Bitcoin Price Analysis: Range-Bound Market Tests Macro Milestones

Summary: Amid an otherwise uneventful market structure, bitcoin seems to be making a consolidation pattern known as a “head and shoulders bottom.” The pattern is still forming and is not yet actionable, but if it manages to break to the upside, it could push the market to retest its $12,500 high.   The bulls really want to see a weekly close above the $10,300 level outlined in this video because that represents a strong weekly/monthly level. A close below this level would be a sign of potential bullish weakness and an…

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Bitcoin Price Remains Uninspired at $10,200, Altcoins Go Into Red

Bitcoin fails to impress while it is back at trading sideways at $10,200, as most of the altcoins experience a red candlestick day. Friday, Sept. 20 — The price of Bitcoin (BTC) remains largely uninspired and is once again trading sideways around the $10,200 price mark. Market visualization. Source: Coin360 Although BTC is back at trading sideways, Fundstrat Global Advisors co-founder Tom Lee expects this to change with the coming launch of Bakkt and is positive on its ability “to improve trust with institutions to crypto.” The world’s largest cryptocurrency…

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Discovering Bitcoin Part 5: Digital Scarcity

This is the fifth installment of bitcoiner Giacomo Zucco’s series “Discovering Bitcoin: A Brief Overview From Cavemen to the Lightning Network.” Read the Introduction to his series, Discovering Bitcoin Part 1: About Time, Discovering Bitcoin Part 2: About People, Discovering Bitcoin Part 3: Introducing Money and Discovering Bitcoin Part 4: A Wrong Turn (New Plan Needed)! Next in the “Discovering Bitcoin” series, we will build on the previous events of money virtualization, establishment of dangerous monopolies and emergent needs for decentralization, to explore concepts of scarcity in the “virtual” world,…

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Bitcoin Price Analysis: Deep Shakeout Rallies Off Strong Support

Summary: A deep test of support pushed the bitcoin market down $600 over the course of an hour. Ultimately, after testing weekly support, the market managed to retrace the entire drop and push a new high. At the moment, we are retesting macro support/resistance at $10,300 and if we can manage to close our weekly candle back above the support, it will be a strong bullish signal that we are likely in for a  continuation of our uptrend. Trading and investing in digital assets like bitcoin is highly speculative and comes…

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How Cryptocurrencies Can Mitigate Some of Brexit’s Negative Effects

Brexit, the European divorce saga that has been going on for years, has created a lot of headaches for politicians and ordinary people on both sides of the Channel. The process of Britain leaving the European Union is now heading towards another one of its deadlines while London and Brussels are trying to separate with an agreement. U.K. Prime Minister Boris Johnson vowed there will be an exit on October 31, deal or no deal. Brits and their Euro neighbors are bracing for another jolt in the continent’s economic and…

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Upbit Exchange Delists Privacy Coins Due to Money Laundering Concerns

South Korean exchange UpBit has announced the delisting of certain privacy coins, citing money laundering concerns South Korean cryptocurrency exchange Upbit announced that it will cease trading support for six cryptocurrencies, including some so-called privacy coins. Block the possibility of money laundering In a Sept. 20 notice, UpBit announced that the exchange will delist and cease trading support for Monero (XMR), DASH, ZCash (ZEC), Haven (XHV), BitTube (TUBE) and PIVX by Sept. 30. The exchange added that it will no longer support deposits in these cryptocurrencies and will cancel orders…

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Malaysian Ministry of Education Fights Fake Degrees With Blockchain Tech

The Malaysian Ministry of Education has introduced a blockchain platform to tackle the rampant use of fake educational certificates. The Malaysian Ministry of Education has introduced E-Skrol, an application built on the NEM blockchain to deal with the issue of certificate fraud through the use of blockchain technology. In a Sept. 19 article by local news agency Bernama, the Ministry of Education in Malaysia announced that the previously introduced E-Skrol blockchain application, which makes it possible to verify the authenticity of Maylaysian educational degrees, will now be available for all…

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Bitcoin Is Not Anonymous and Tor Users Are Forgetting This

Bitcoin is not an anonymous payment network. However, in practice, many people still appear to be forgetting this, even the most privacy-minded. A research paper from the University of Qatar reminds us that Bitcoin alone isn’t private. In fact, it can even deanonymize users seeking privacy from the anonymous communication network, Tor. This indicates a clear vulnerability or potential information leakage for people who already take active measures to remain private online.  “In a real-world experiment, we were able to link many users of Twitter and the BitcoinTalk forum to…

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Major Middle Eastern Bank’s Swiss Subsidiary Offering Bitcoin Services

Arab Bank (Switzerland), a subsidiary of major financial services provider Arab Bank, is opening up full brokerage and custody services for Bitcoin and Ethereum. Originally founded in 1930, Arab Bank is the largest financial institution in the Middle East, and the first one to open serious economic ties with Europe and the world at large through subsidiaries such as its branch in Switzerland. Although hardly a significant financial institution on the scale of Wall Street’s largest banks, Arab Bank still holds some $50 billion in various assets and a large…

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Former Iced Tea-Turned-Blockchain Company Sells Beverage Subsidiary

Former iced tea-turned-blockchain company Long Blockchain Corp. has sold its beverage subsidiary. Long Blockchain Corp., previously named Long Island Iced Tea, has reached a definitive agreement to sell its beverage subsidiary, Long Island Brand Beverages. Lemonade company adds blockchain to its name In a Sept. 20 press release, Long Blockchain announced the sale of its beverage subsidiary to Canadian firm ECC2 Ventures.  Andy Shape, CEO of Long Blockchain stated that this transaction will allow the company to concentrate its efforts on the underlying loyalty operating business, adding:  “Our loyalty platform…

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