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On the 2nd of January 2020, the Bitcoin price rose by 3.5% to 6850. Nevertheless, it staged a robust retracement and gained $ 400, representing a 6% upsurge to $7250, before returning to $7200. Bitcoin is trying to stabilize its level at $7.2k since that time. A crypto research and data market known as Skew Markets noted the liquidation of a minimum of $16 million worth of short positions on BitMEX in the colossal upsurge. Bitcoin’s surge caught traders off-guard, as analysts…

In December of 2018, Bitmain reduced its workforce by almost 50%. The firm claimed it is because it focused on developing a sustainable business and that it would keep doubling down on hiring the best talent from different backgrounds. Recently, there are claims that Bitmain is planning to lay off 50% of its current workforce. On the 2nd of December 2019, a Chinese news media outlet report said that the company introduced a personnel optimization plan to significantly reduce its…

Several Central Banks are showing interest in exploring the likelihood of issuing their Central Bank Digital Currency (CBDC). China’s Central Bank seems close to launching its own known Digital Currency Electronic System. Central banks are seriously looking into digital currencies; however, some of these banks’ officials resist digital assets. Regardless, there is increasing cryptocurrency adoption, which is fueling the possible issue of CBDCs by Central Banks. The US Fed Exploring the Likelihood of Launching a CBDC Recently, James Powell of…

Following the comments by the European Central Bank policymaker, Jens Weidmann, the ECB has no urgent needs in the creation of a digital currency at the current moment. Based on the reports of the ECB in December 2017, "Exploring anonymity in central bank digital currencies," a new report explained the primary functions of the Central Bank Digital Currency.  Its research focuses on contribution motive towards the border discussions of the ECB chains. The Accenture and R3 features presented in the…

Following the current bearish signals indicated by the bitcoin prices that estimate between $7,300 to $7,260, concerns are raised regarding the fall below $7,000. The bitcoin value has been declining steadily within the past sessions under support at $7,320 value, which also settled the 100 hourly simple moving average.  Concerning the BTC value within the past days, the value transaction could not surpass $7,320. Although the price tried to increase and stabilize above the $7,300 value, the prices could not…

Following laws and amendments made by the United States regarding bill preparation on stablecoins, concerns related to various technologies and firms interested in cryptocurrency creation are raised.  The House committee drafted legislation proposed on 15th of July 2019, focuses on Libra by Facebook, and primarily restricts these large technology firms from operating practices similar to financial institutions. The large technology firms implied in the draft legislation are majorly the online platform service providers who are minimum annual revenue earnings approximate…

At the start of the year 2020, Ripple unlocked funds valued at $192 million from its escrow. Whale Alert caught the recent XRP tokens consignment by scanning data from the XRP. Consignment refers to an installment of a pre-planned release plan that Ripple started in 2017. Ripple officials revealed in a blog post that the firm’s plan to lock up 55 million XRP, releasing funds every month within 55 months. The plan aims at incentivizing investors to maintain interest and…

Through academic essays, Konrad S. Graf tries to make Bitcoin known worldwide. On the 1st of January 2020, Korad, in an interview with Eurasia Review, noted that the future of Bitcoin as a model is highly possible because of its ease of succeeding over other cryptos in various aspects. Konrad highlighted the following four competitive advantages intrinsic to Bitcoin as below: Bitcoin Scarcity and Apolitical Value BTC is scarce and, therefore, ahead of every form of money due to fixed supply.…

At the beginning of the year 2020, the BTC/USD is trying to maintain major supports. However, the price is still at risk of a further downward move to $7000 and $6880, before a modest upward move. Bitcoin’s price has been dropping steadily under the support at $7320 within the previous few weeks. Eventually, it settled under $7320 and the 100 hourly SMA. The decline in recent times brought the price levels under the support at $ 7200 and $ 7150.…