Month: August 2020

The blockchain surveillance firm Ciphertrace claims to have created the “world’s first” monero tracing tools for law enforcement. According to the company announcement, Ciphertrace developed forensic tools for the U.S. Department of Homeland Security (DHS) in order to track illicit monero transactions. Despite the firm’s claims, there is zero evidence provided that prove the company actually has such tools. Since the open-source cryptocurrency was first invoked in 2014, the Monero (XMR) project has been heralded for privacy-centric techniques. The digital Read more …

Bitcoin could be in for a “massive” and “devastating” correction ahead, according to the author of Mastering Elliott Wave Theory. The long-time market analyst and expert on the subject sees potentially a couple more months to years of rally in crypto, followed by a “potentially massive change in conditions for Bitcoin.” As wild as it sounds, he even calls for the leading cryptocurrency by market cap to drop to as low as $150 after the current corrective wave is finished. Read more …

Cryptocurrency wallet platform Klever will allow users to stake Bitcoin (BTC), Ether (ETH), Tron (TRX) and other cryptocurrencies in Cred’s staking programs from within the wallet. Cred is a cryptocurrency staking and lending platform that allows users from across 190 countries to lend their cryptocurrency funds in return for monthly rewards in stablecoins, cryptos and fiat currencies.  The new feature will allow Klever users to opt for any of the staking programs listed on Cred in return for monthly rewards. Read more …

Bitcoin mining rig manufacturer Canaan on Aug. 31 released its unaudited financial results for the second quarter of 2020. While gross profit was up both year on year and quarter on quarter, the company still posted a net loss, albeit one which has narrowed significantly in the last twelve months. The amount of computing power sold in its application specific integrated circuit (ASIC) hardware was 2.6 million THash/s. This represents an increase of almost 200% on Q1 figures of 0.9 Read more …

As the price of Ethereum’s native digital currency Ether (ETH) has been showing massive strength recently, the path seems to be continuing toward new highs. Ether price ran from $220 to $445 in the previous five weeks and this is one of the biggest surges for the altcoin in the past 18 months.  However, as the rally didn’t provide many opportunities for laggards to hop on the train, is $500 the next target for Ether? Let’s examine the technical setup.  Read more …

It has been a rocky past couple of weeks for Bitcoin and the aggregated crypto market. Despite some turbulence, BTC bulls have been able to guard against it seeing any significant near-term downside. Late last week, the crypto started gaining some momentum that sent it to highs of $11,600, at which point it faced an influx of selling pressure that caused its price to decline to lows of $11,100. Bulls were able to guard against any further downside and have Read more …

Hacktivist Bitcoin developer Amir Taaki took aim at Ethereum co-founder Vitalik Buterin on Twitter recently for essentially writing off smart contracts inventor Nick Szabo as a right-wing crank. Taaki wrote that this sort of attitude was typical of an “Eth[ereum] culture which is about sparkling burner parties, privileged digital nomads, microdosing LSD, sex orgies and ‘social-justice’ / vague doing-good.” Pretty much everyone had the same initial thought: “Why aren’t I getting invited to these parties?” But Taaki’s comments also highlighted Read more …

Both Bitcoin and altcoins have enjoyed a near-perfect environment for them to thrive, all based on the dollar’s weakness and decline. It has allowed these digitally scarce assets to rise significantly in 2020. However, a rare signal suggesting that the dollar will soon reverse could put an end to the recent crypto bull rally. Here’s why. You want the latest news about Crypto? Then follow us on Google News! The Dollar Isn’t Dying, And A Day Of Reckoning May Be Read more …

Since the beginning of the month, Ethereum has been consolidating within a narrow range. Its price has been mostly contained between the $372 support and the $445 resistance level, without providing any clear signals of where it is headed next. The stagnant price action caused the Bollinger bands to squeeze within the same time frame, indicating that a period of high volatility is underway. Only a daily candlestick close above $445 or below $372 will determine the direction of Ether’s trend. Read more …

Venezuelans have become increasingly interested in cryptocurrency as their country faces dire economic crisis and hyperinflation, a new study by blockchain data analytics firm Chainalysis shows. The firm’s Global Crypto Adoption Index ranks Venezuela third as “The country has reached one of the highest rates of cryptocurrency usage in the world.” Cryptocurrency Adoption Soars in Venezuela Chainalysis published its study of Venezuela’s bitcoin usage Thursday, which is part of its upcoming 2020 Geography of Cryptocurrency Report. “Venezuela is suffering through Read more …

Venezuelans have become increasingly interested in cryptocurrency as their country faces dire economic crisis and hyperinflation, a new study by blockchain data analytics firm Chainalysis shows. The firm’s Global Crypto Adoption Index ranks Venezuela third as “The country has reached one of the highest rates of cryptocurrency usage in the world.” Cryptocurrency Adoption Soars in Venezuela Chainalysis published its study of Venezuela’s bitcoin usage Thursday, which is part of its upcoming 2020 Geography of Cryptocurrency Report. You want the latest Read more …

The U.S. dollar is getting so weak that even Warren Buffett is getting out and Bitcoin (BTC) will see all-time highs, says Max Keiser. In his latest forecast for macro, the RT host warned that safe havens would seriously outperform fiat. Buffett, he implied, knew what was coming. Keiser: Buffett “getting out of USD” “Buffett’s move into Japan, along with his GOLD investment, confirms he’s getting out of USD BIGLY,” Keiser wrote on Twitter Monday.  “USD is trending lower today, Read more …