Month: July 2020

The flagship cryptocurrency continues to disappoint investors while lower-cap coins are running the show. Indeed, Bitcoin has been flat for over the past month without providing a clear roadmap of where its price could be headed next.  The ongoing consolidation period forced the Bollinger bands to squeeze on BTC’s 1-day chart. Squeezes are indicative of low volatility periods that tend to be succeeded by wild price movements. The longer the squeeze, the higher the probability of a strong breakout.  Bollinger Read more …

Advertisment In today’s article, we will be reviewing BTC’s past prices and market predictions so that we can develop a Bitcoin price prediction for August 2020. Bitcoin Overview Bitcoin is the number one crypto according to a market cap of $167,951,637,379 and a trading price of $9,110.46. There are currently 18,435,037 BTC in circulation out of a total of 21.000.000 BTC. $14,861,431,650 worth of Bitcoin has been traded in the last 24 hours. You want the latest news about Crypto? Read more …

From June 25 to July 1, the Russian government held a public vote with the goal of finding out whether the country’s constitution should be amended. Part of the vote was held on blockchain to “ensure security and transparency,” according to the government, making it the country’s most extensive DLT project to date. But this didn’t stop independent researchers from registering over 20 million “abnormal” votes and arguing that it was one of the most falsified voting events in the Read more …

Onchain data shows that bitcoin miners are hoarding despite the 50% loss in revenue that started on May 11, during the third reward halving. The seven-day average of bitcoin miners’ outflow volume and mining funds sent to exchanges remains significantly low. Roughly four weeks ago on June 19, the total amount of BTC transferred out of miners’ addresses saw a significant low not seen in over a decade. At the time, miners transferred 987 BTC that day, but six days Read more …

During a webinar on July 17, the former Finance Secretary of India, Subhash Chandra Garg, discussed cryptocurrencies with Indian industry leaders including Nischal Shetty, the CEO of Indian crypto exchange WazirX, and Siddharth Sogani, the founder of blockchain research company Crebaco. In 2019, Garg along with his secretariat drafted a bill that proposed a ban on cryptocurrencies along with a 10-year jail term and a fine of up to 25 crore rupees (~$3.3 million) for anyone who issued, used or Read more …

Aave, an Ethereum-based peer-to-peer lending platform, has emerged as one of the top investments in 2020. On Friday, the project’s native token, LEND, was trading 1,500 percent higher on a year-to-date (YTD) timeframe. Its parabolic rally appeared following a long string of positive fundamentals, including a $3 million inbound investment. Aave has reached the moon before its top cryptocurrency rival, Bitcoin. The Ethereum-based peer-to-peer lending platform allows users to earn interest on deposits and borrow assets with a stable or Read more …

A report by Flipside Crypto states that investors are liquidating their Compound (COMP) holdings as soon as the opportunity presents itself; with major exchange listings acting as catalyst. COMP flows. Source: Flipside Crypto. Exchange listings led to dumps The report states that as soon as COMP was getting listed on major exchanges like Binance (BNB) or Coinbase, there were observing major flows from the investors to exchanges. In addition, there was allegedly a larger transfer made from “the Compound team Read more …

As the launch of Bancor V2 draws close, the team is inviting the community to take a look at its code and report any vulnerabilities they may find. On Friday, the project released the code for the Bancor V2 smart contracts, which feature a variety of improvements that help both the users and liquidity providers of the protocol. At the same time Bancor is also launching a bug bounty program to incentivize the community to find bugs ahead of the Read more …

Multinational banking giant Banco Santander and four Spanish banks have successfully finalized a proof-of-concept for payments using smart contracts. The PoC was coordinated with IberPay, the company that oversees the Spanish Payment System. Trial confirms blockchain’s feasibility for payments In a statement on July 15, IberPay said the PoC had “confirmed the feasibility of applying blockchain technology to the field of payments” and its successful connection to the national payment system. Using smart contracts automates the execution and settlement of Read more …

Despite Bitcoin’s strong bounce from the March lows of $3,700, some remain decisively bearish on the leading cryptocurrency. Take Peter Schiff, for instance. The prominent gold bull and cryptocurrency skeptic recently wrote that he thinks the asset will soon break below $9,000, arguing that Bitcoin remains in the midst of a brutal bear market. “Gold seems to be chipping away at resistance just below $1,800 while BTC is simultaneously chipping away at support just above $9,000. I expected both resistance Read more …

At the same time that volatility and short-term implied volatility have been sucked out of the market, longer dated options (six months or so until expiration) are still pricing closer to their historical average volatility in the 70% range. This steepness in implied volatility term structure suggests one of two things: Investors expect that this period of low volatility will be transitory and that a catalyst in the next couple of months will once again rock markets, or perhaps sellers Read more …

Bitcoin’s (BTC) active supply has hit a 19-month low of just over one million Bitcoin. This could signal a potential strong price increase if it plays out in line with the findings of a report from asset manager Stack Funds earlier this month.  Bitcoin active supply. Source: Glassnode Consistent with the 2017 bull run The active supply saw a sharp increase earlier this year with a 16% increase in less than three weeks to over 1.3 million Bitcoin. Looking at Read more …