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Major Markets Spell Trouble For Bitcoin

Bitcoin price action will continue to be boring for the next few days. Until we have a retest of the top of the symmetrical triangle, BTC/USD will continue to linger on and slowly make its way towards the retest. However, this is a time to look at the big picture and see what we can expect next and how...

Theft Of 100 BTC Isn’t A Crime Because Bitcoin Isn’t Property

On June 30, a Russian criminal court denied a motion to provide restitution to a victim of what would in many jurisdictions be a felony, arguing that Bitcoin (BTC), as a virtual currency, does not enjoy the same property protection as other assets.The case goes back to 2018, when the two men impersonating Federal Security Service (FSB) agents and their accomplices kidnapped the victim and forced him into giving them 5 million rubles...

Beijing Plans to Foster DLT Unicorns Through New Blockchain Investment Plan

The municipal government of Beijing has unveiled a 20-point plan to accelerate the development and deployment of distributed ledger technologies (DLT) and turn Beijing into both a global and national hub for blockchain tech.According to an announcement published on July 1, the plan seeks to “promote theoretical innovation, technological breakthroughs, talent cultivation,” and “create new economic growth.”The government will provide continued financial support for the plan throughout its course.Beijing wants to host...

Bitcoin Bulls Have Lost The Momentum

Bitcoin has been struggling to break towards the trend line resistance to test it again before the subsequent decline. However, it does not have enough bullish momentum for me to decide to be bullish on the market even near-term. The conditions are ripe for a major downtrend from this point forward but we just need to sit this out...

3 Reasons Why Bitcoin Price Recorded Its Third Best Q2 Performance Ever

The price of Bitcoin (BTC) recorded its strongest Q2 performance in history following a massive plunge on March 13 when the price dropped below $3,600 before eventually pushing above $10,000 over the next three months.Researchers at Skew said:“Bitcoin is having today its third best quarterly close in its young history.”Quarterly performances of Bitcoin throughout the past 6 years. Source: SkewThree key catalysts that fueled the historic Bitcoin rally from April to June were:...

Bitcoin’s ROI Since 2015 Outperforms Five Major Indices by 70X

Bitcoin had a nearly 3,500% return on investment since 2015, 70 times that of five traditional stock markets.According to a June 29 article at investor website Buy Shares, data analyst Justinas Baltrusaitis says from June 26, 2015 to June 26, 2020, the return on investment (ROI) for Bitcoin was more than 70 times higher when compared to the Financial Times Stock Exchange 100, NASDAQ, Nikkei, S&P 500, and Dow Jones markets. “During the period...

Bitcoin Might Retest Trend Line Resistance One Last Time

Bitcoin is ready to test the previously tested trend line resistance one last time before the downtrend begins. This happened the last time as well when BTC/USD ended up testing the top of the symmetrical triangle for the fourth time before it crashed below it. This time it appears to be doing the same as the price action is...

Compound’s COMP Token Takes DeFi by Storm, Now Has to Hold Top Spot

When Compound launched its governance token, COMP, on June 16, few in the crypto space could have predicted how rapidly it would rise to the top. As Cointelegraph reported at the time, it only took a single day of trading for COMP to become the leader of the decentralized finance rankings. It was a historic moment for any fans of DeFi, marking the first time that Maker (MKR) had been toppled from its...

BTC/USD Mending from a Multi-Week Low: Sally Ho’s Technical Analysis 29 June 2020 BTC

Bitcoin (BTC/USD) continued to orbit the 9000 figure early in today’s Asian session as the pair continued to recover from its move to the 8815.01 area during Saturday’s North American session, its weakest print since late May.  Stops were elected below the 8993.44 area during the descent lower, a retracement level that represents the 61.8% retracement of the appreciation...

BitMEX Launching Services for Corporate Customers

Hong Kong-based cryptocurrency derivatives exchange BitMEX is launching a new program with benefits for its corporate clients including enhanced security service, and accounting.According to a June 22 announcement on BitMEX’s support page, the exchange is launching a new program for corporate customers, BitMEX Corporate. Accounts on the crypto exchange that are not owned and operated by an individual can now ensure their BitMEX holdings are the legal property of a corporation.BitMEX said the...
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