Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
News
LongHash Statistics Reveal Over 26000 Blockchain Companies are Running in China
Recent statistics provided by LongHash says that more than 26000 blockchain firms are operating in the country, and close to 80000 are legally registered companies. Guangdong province has the most blockchain companies, having 22 636 registered and operating firms in the province. Recently, the government of Guangdong province adopted a blockchain-based financing system. Additionally, there are over 5300 and 5000 blockchain firms registered and operating in Yunnan and Guangxi provinces. More Statistics on Crypto-Related Firms in China In 2018, the…
5 years ago
Bitcoin Experiences a New Surge as Bulls Focus on $9.5K
Bitcoin just found a powerful buying interest of over $8.2k, resulting in a rise above $8.5k. Currently, the price is above $8.6k, and buyers expect a further upsurge to above $8.8k and $9k. Yesterday, the $8.2k level played well, resulting in a fresh incline in the price over the barrier at $8.4k. The price formed a modest support base, near $8280, and at the moment, the price established above the 100 hourly SMA. Analyzing the BTC/USD Hourly Chart The BTC/USD…
5 years ago
An Indian Lawyer Wants Fintech Regulations In the Country Eased
Recent reports pointed out several court cases on cryptocurrency in India’s supreme court. These court cases support the prohibition of crypto-related services by banks and financial institutions. However, India’s Reserve Bank supports crypto-related services. Several cryptocurrency supporters, such as Prathiba Jain, want the easing of regulations in India’s Fintech. During the World Economic Forum in Davos, Jain, the founder and head of New Delhi, Nishith Desai Associates, talked about Anti-Money Laundering and Counter-Terrorist Financing (AMLCTF) system in the nascent Fintech…
5 years ago
Analyzing the Bitcoin Price Fluctuation
At the start of 2020, the BTC/USD price turned to the downside from its high at $9191. However, the bitcoin price remains tuned to the upside and may secure the bulls close to $8k or $7670. The price formed a short term top close to the $9191 level before it commenced a downside retracement. It plunged below $9k and $8.8k to get to a declining area. Moreover, the price closed on the day under the support at $8.5k. There are…
5 years ago
Ethereum May Further Decline to Under $155
Recently, ETH/USD price declined hence breaking the support at $160. Additionally, there is a likelihood of the ethereum price to keep moving to the downside, under the supports at $158 and $155 in the short term. Ethereum failed to rise over the barrier at $170, and declined steadily, thereby breaking below the support at $165 and the 100 hourly SMA. A further decline led to a break of the $162 support below the support at $160. The price formed a…
5 years ago
Tim Draper Encourages Millennials to Invest in Bitcoin
Recently, FOXBusiness interviewed Tim Draper, a renowned American venture capital investor. Draper advised Millenials to put their money in Bitcoin to secure their future. He also said that a financial system that is not working anymore got introduced to the millennials from past generations. Draper also mentioned what Bitcoin could do towards solving their retirement difficulties. He also noted his early investment with Tesla. Tim Draper on How Millenials Should Invest Tim Draper, advising millennials how to invest and plan,…
5 years ago
XRP is Prone to Plunge Soon
The XRP/USD pair failed to rise above the barrier at $0.2400. The pair's price is dropping at the moment, and it appears at risk of falling below $0.2300 and $0.2240. Currently, the price rose over the barriers at $0.2320 and $0.2350. However, the price could not secure a momentum and topped close to the $0.2420 zone. It did not form a high close to $0.2415 and started inclining. The XRP/USD pair surged past $0.2380 and $0.2350. At the moment, XRP…
5 years ago
Tether Payments Now Available on PornHub
On the 22nd January 2020, Pornhub announced the addition of two new payment options. USDT is one of the options added, a cryptocurrency stablecoin, and is the sixth-largest market cap. Paypal halted supporting Pornhub two months ago due to issues concerning regulatory compliance. In return, cutting off the Paypal payroll of the models and actors on its website. Some time ago, nations banned banking services in facilitating porn websites to stop human and drug trafficking. Nevertheless, the industry continues to…
5 years ago
Hong Kong and Thailand to Pilot CBDC Project for Cross-border Payments
Cross-border CBDC payments could soon be a reality. This follows the announcement by The central banks of Hong Kong and Thailand that they were on the cusp of jointly implementing a similar payments system. In an official communique released on 22 January, the two banks disclosed the results of Project Inthanon-Lionrock, a CBDC research project the two are cooperating in. The banks issued a joint press release and availed a 90-page report detailing the pros and cons of CBDC on…
5 years ago