Senin, 22 Februari 2021

Three Reasons Why Metadata Privacy Is the Next Level Evolution Towards Data Privacy

Most people think metadata is something you only have to worry about if you are running an SEO campaign. However, most people do not realize that every task you perform creates metadata that contains every piece of information about the task you just performed. Even if you click a picture, the photo will have a metadata file that will contain all your personal information such as your location, device information, date and time information, etc.

Someone can misuse this information in more ways than you might realize. Therefore, only protecting your data is not enough if you want to stay completely secure. You have to protect your metadata as well. Here are a few reasons why protecting your metadata privacy will make you completely protected.

  • The most important step of ensuring your privacy is encrypting the information you are transferring, and you can do that by protecting your metadata.
  • Metadata privacy secures not only the information you are sending but also the information of the sender.
  • As metadata files contain information about the sender, it also includes information on the receiver. By ensuring the privacy of metadata, you can ensure the privacy of the receiver as well.

Whatever you do online, sending & receiving any data, HOPR provides the tools and framework for a privacy-first layer zero of the Web3 ecosystem, ensuring everyone has control of their privacy, data, and crypto assets.

Why is the DeFi world waiting for HOPR?

HOPR provides complete network-level metadata privacy, which is extremely important in the digital age. Metadata is one of the crucial yet elementary parts of totally anonymous financial transactions. In the Decentralized Finance space, all the transactions take place over the internet. While the platforms encrypt these transactions, they can create caches and metadata that contains detailed information about the transactions.

HOPR understands the importance of total metadata privacy and provides complete network-level metadata privacy. The HOPR networks transfer all the data via multiple “hops” to eliminate any prying eyes and encrypt the transaction in the process. This way, the metadata is hidden that helps in masking the origin and destination, as well as size, sender & recipient of the data transaction.

Another advantage of using the HOPR network is its custom-made second-layer scaling based on probabilistic payments that immediately give a value to the HOPR token. This helps in avoiding high transaction fees on the blockchain.

The outstandingly strong & huge community of HOPR and what this means?

HOPR rewards its community members for helping others to transfer data private & secure. This decentralized network, which in testnets already had up to 3’000 nodes running, has a unique proof-of-relay mechanism that rewards every node runner with HOPR tokens. The platform incentivizes the community members to run HOPR nodes in exchange for HOPR tokens while contributing to online data privacy.

HOPR is launching the HOPR tokens in a matter of a week, and there is an exciting buzz going around the community. Even before the token launch, more than 20’000 members have already subscribed to TG channels in 11 different languages.

HOPR has always prioritized its community members by rewarding their efforts on several HOPR testnets.

The token launch comes after a first-of-its-kind DAO (decentralized autonomous organization) experiment. The timings and logistics of the token launch were decided by the HOPR Genesis DAO, a community of more than 3,000 HOPR testnet participants, independent of the project team itself.

More than 1,500 votes were cast on the final proposal that is an unprecedented level of turnout in the DeFi space. The DAO voted for a community presale, followed by a public distribution on the decentralized finance platforms Balancer.finance and Uniswap.exchange that are two popular DeFi tools for providing decentralized liquidity. In total, 85m HOPR tokens will be distributed.

The high involvement of the core community shows passion and great interest in the meaning of the project. Therefore, long-term growth can be expected for the project. By incentivizing the collective efforts of their community members, HOPR shows endless gratitude and appreciation towards them.

Why is Meta Data Privacy the next big thing?

The exponential global data traffic growth has led to an increase in security risk, due to the many webpages grabbing all kinds of data to find the right clients, grow and serve customers with matching desires. What sounds like a great customer serving is at the same time a big risk, as everybody might be influenced, based on the profile of others.

Data privacy is just not enough. HOPR is about to revolutionize how we will send data in the future. Similar to TOR but incentivized so that everybody can earn a token when supporting the HOPR network. Every community member that runs a HOPR node will be rewarded for their efforts and contribution to digital privacy.

The company even offers a dedicated HOPR hardware node in order to relay more data and earn more tokens. Anyone can easily run the HOPR node on their own hardware by using HOPR’s easy-to-install software. And it is open-source, so the installation is totally free. You only pay when you use it with HOPR token. These HOPR tokens will be given to the HOPR Node runners, as they will send your data, in a private & secure manner.

With ever-increasing security risks, we have to ensure our digital privacy is as good as possible. We have been focusing on securing the data, but metadata privacy is the next level important if not a larger security concern. As metadata contains information about the data, sender, and receiver, it is vital to keep it secure from any vulnerabilities.

Just 1 funny example so you understand the difference between data privacy & metadata privacy:

Here you see:

Sender / receiver / weight of the item / time sent / and the form

If this would be split into all equally looking HOPR balls – and they all would be sent through different delivery channels … the data & the metadata would be protected.

Image by ElasticComputeFarm from Pixabay


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Leading DeFi Projects to Follow in 2021

Without a doubt, dApps will continue to disrupt the crypto world as companies are investing heavily in the development of the DeFi ecosystem. Likewise, investors are willing to earn more returns by plowing various cryptocurrencies back into DeFi, which in a way is also responsible for the growth.

Decentralized Finance, or DeFi, is gaining more credence from crypto enthusiasts daily with the development of dApps, which utilize the Ethereum blockchain. The blockchain’s smart contract eliminates the need for middlemen during transactions, therefore, creating secure, efficient and fast transactions.

DeFi Projects You Should Follow in 2021

Following the rise in popularity of DeFi in 2020, many crypto users are on the lookout for projects that can help them maximize profits this year. Some of the projects you can follow in 2021 include:

Aave

Aave is built on the Ethereum blockchain and is best described as a lending pool that gives both lenders and borrowers access to 17 different cryptocurrencies including ETH, SNX, YFI and stablecoins like DAI.

To incentivize users and facilitate lending and borrowing, the platform has two types of tokens; the aTokens and AAVE tokens. The aTokens are issued to lenders who deposit to the liquidity pool so that they can earn interest on their deposits. The AAVE token, which is the native coin, offers more benefits such as discounted fees when borrowers use AAVE as collateral.

A phenomenal attribute of the Aave protocol, which is why crypto users are crazy about it, is the “flash loan” feature. This provides an avenue for advanced crypto users to have access to flash loans, borrow as much money and repay within the same transaction very fast. Users can profit from this through arbitrage, collateral swapping and wash trading.

Just recently, on the 26th of January, AAVE reached a new all-time high at $278. 90 with its TVL (Total Value Locked) reaching a new high of $3.75 billion. This is a result of the spike in demand for flash loans by investors. Thus, making Aave a great project to follow this year.

Compound

Compound is simple and user-friendly for both beginners and advanced traders alike.

It is a money market protocol that lets users deposit cryptocurrencies to earn interest, or borrow other crypto against the deposited tokens.

Lending and borrowing on Compound is easy, as transactors do not have to hassle with the interest rate. The interest rates for lending and borrowing are automatically fixed and adjusted algorithmically based on supply and demand. A great attribute of Compound is that it requires only a crypto wallet and internet connection to participate in lending and borrowing on the platform.

Nimbus 

It is definitely a game-changer in the DeFi space. After more than a year of delivering blockchain-based tools to 50,000 users, Nimbus has shifted to DeFi. The launch of their DeFi platform and native utility token NBU on the 27th of January shows the potential of their new DeFi functionality as a market cap of $35 million was reached just within 2 days after the launch.

Nimbus aims to become a one-stop-shop for those willing to diversify their portfolio without having to switch between multiple native tokens of different projects. On their new platform, Nimbus is set to launch four different decentralized apps in 2021: a peer-to-peer lending dApp, crypto Arbitrage-Trading dApp, IPO Hub dApp, and Crowdfunding dApp.

One advantage of the bold unprecedented move by Nimbus is that individual investors can now access shares at traditional IPOs as well as take part in start-up equity and crowdfunding, which before now was restricted only to institutional investors and finance hoarders.

The DeFi community keeps a close eye on the project in anticipation of their NBU token listing on Uniswap scheduled for February 24. This will likely give a new boost to the already successful Nimbus DeFi Platform launch.

Curve Finance

Curve Finance is also an automated market maker where anyone can add their assets to the various liquidity pools to earn profits. Curve runs on the Ethereum blockchain and is a decentralized exchange liquidity pool for efficient stablecoin trading.

The design of Curve finance allows for swapping stablecoins with low fees and slippage. Also, due to the dynamic system of Curve, it can also be used to swap tokenized versions of coins that are in a relatively close price range.

This is amazing because users can swap between tokens, such as swapping the various versions of bitcoin, like sBTC, renBTC, WBTC. This feature on Curve offers more options for its users, making it a great platform to follow this year.

Synthetix

Simply put, Synthetix is a protocol that issues synthetic assets on the Ethereum blockchain. Synthetic assets are instruments in the form of ERC-20 contracts called “Synths” that return interest on another asset, without the need to hold the asset.

The platform helps in the maturity of decentralized finance by introducing non-blockchain assets such as synthetic commodities, synthetic cryptocurrencies, synthetic inverse cryptocurrencies, synthetic fiat currencies into the crypto ecosystem.

On January 15, Optimism, an Ethereum scaling company, soft-launched Optimistic Virtual Machine (OVM) to solve Ethereum’s transaction problems. As a result, Synthetix co-founder, Kain Warwick announced that staking SNX, the platform’s native token, on OVM is now possible.

Final thoughts

Although, the mentioned projects are not the only ones available in the crypto world. However, they exhibit great potentials that can help improve the crypto ecosystem for all users.

 Image by Tumisu from Pixabay


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A 15 y.o. boy Earns 0.5 BTC in One Day!

An American teenager from Miami, Florida earned 0.7 BTC in one day. His name is Karl Miller and he is a Miami Country Day School student.

A local media asked him several questions.

The boy says that he stumbled upon an article about the RJVX12 algorithm on the Internet. The company mentioned there offered passive income on cryptocurrency up to several percent a day, but the teenager didn’t have any money to invest. The company suggested that he use their affiliate program, where you can invite your friends and colleagues as investors and get a percentage of the transaction.

According to Karl, he sent out his partner link to a dozen boards and told hundreds of people about the possibility of investing. For several weeks every night after school, he was working with this affiliate program and when the quarantine began, he started dedicating almost his whole day to it.

As the teenager told us, he has already begun to earn at least $200-300 per day when one of the investors who went through his referral link on the 10th of February made a deposit of 10 bitcoins. That’s how Karl immediately received a commission of 0.5 BTC (at the rate of that date it was more than $ 20000).

Right now Karl wants to give some of the money to his parents and set some of it aside for college. He plans to continue working as a partner of the company and keep earning money from the affiliate program.

The RJV12X algorithm is a way of analyzing and predicting the cost forecast of securities, shares, and cryptocurrencies. It was developed in the summer of 2020 by a group of scientists from Oxford University along with analysts from FBC Limited.

At first, the goal of the joint action was to create an AI that would independently predict the situation, but after several years of failed affords, the project team rethought their actions.

It was decided not to teach AI to make decisions on its own, but to set the goal of developing a universal algorithm for predicting the cost forecast, based on which the analysts themselves would predict the “bullish” or “bearish” scenario of a particular security.

In summer 2020, a team of scientists and financial analysts successfully completed the work on the algorithm and managed to achieve phenomenal results. Based on the RJVX12 algorithm, the accuracy of the analysts’ forecasts from FBC limited reached an incredible 97.6%.

 

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Ethereum (ETH/USD) Falls 26% From Historic High; What’s Next?

Ethereum fell Monday in sync with the cryptocurrency market’s other top assets, including Bitcoin, Binance Coin, Polkadot, and Cardano.

The second-largest cryptocurrency touched a record high of $2,041 during the weekend session that prompted daytraders to secure their profits. That led to a considerably larger sell-off throughout the weekend and Monday session, taking the ETH/USD exchange rate lower by as much as 26.11 percent to $1,508.

Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency
Ethereum slips amid broader crypto market sell-off. Source: ETHUSD on TradingView.com
Ethereum slips amid broader crypto market sell-off. Source: ETHUSD on TradingView.com

Elsewhere in the cryptocurrency market, almost every high-cap asset suffered major intraday losses.

Bitcoin, the flagship digital asset having an extremely high positive correlation with Ethereum, plunged up to 19.99 percent from its session peak above $58,000. Likewise, Binance Coin, which notched closed the previous weekly session 171 percent high, dropped by 44 percent on Monday.

On the whole, the cryptocurrency market wiped off $149 billion off its valuation.

Support Held

Bulls were able to offer support as Ethereum continued its plunge into the US session Monday. So it appears, they capped the cryptocurrency from falling below its 50-day simple moving average (the blue wave). The ETH/USD rate fell towards it briefly before pulling itself back upward by 13 percent.

Meanwhile, the bounce-back attempt took the pair close to another support wave (the green one) called the 20-day exponential moving average.

Both the curves have limited Ethereum’s downside corrections in the past. In January, traders attempted to break the 20-EMA about nine times—and each attempt took the ETH/USD rates to a fresh high. Meanwhile, any slipover below the 20-EMA had bulls treat the 50-SMA as support.

Meanwhile, Teddy Cleps, an independent market analyst, noted that the ETH/USD rates could still achieve a new all-time high, providing it maintains support above a so-called cloud price floor.

Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency
Ethereum eyes $5,000, as per Teddy Cleps. Source: ETHUSD on TradingView.com
Ethereum eyes $5,000, as per Teddy Cleps. Source: ETHUSD on TradingView.com

“Ethereum getting squeezed between $2,000 and the cloud,” Mr. Cleps said. “[The] same exact price action that we had a few weeks back, when price was getting squeezed between the cloud and the 2017 all time high. Have patience, $5,000 is coming.”



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Bitcoin Drops After Record-Setting Rally; Is Bearish Bias Returning?

Key Bitcoin Takeaways

  • Bitcoin plunged by almost 5.5 percent on Monday after setting up a record high in the previous session.
  • The one-day drop is the largest since February 10, pointing to extended intraday declines as the European session matures.
  • Long-term sentiment remains bullish on growing corporate adoption against the US dollar depreciation.

Bitcoin (BTC/USD) sold off heavily throughout the Asian and early European session on Monday after achieving a new record high of $58,367 in the previous session.

The flagship cryptocurrency was down by up to 5.5 percent after the London opening bell, flirting with short-term technical support near $55,550 for an extended bearish breakout move. In doing so, BTC/USD targets the $52,000-54,000 as its next downside target.

Looking from a broader perspective, the pair appeared to have been testing an upward sloping trendline that acts as a price floor to a Rising Wedge pattern. Technically, a break lower risks sending the Bitcoin price lower by as much as the Wedge’s maximum height (which is about $10,000-long).

That puts the cryptocurrency on a corrective course to $45,000—about 20 percent lower from the latest peak.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin’s Rising Wedge pattern points to a 20 percent correction ahead. Source: BTCUSD on TradingView.com
Bitcoin's Rising Wedge pattern points to a 20 percent correction ahead. Source: BTCUSD on TradingView.com

Nevertheless…

…rising wedges have failed previously while determining Bitcoin’s short-term bias.

There is a massive possibility that Bitcoin locates a support area above $50,000 before it resumes its upward momentum. The reason remains its corporate/institutional adoption against the long-term risks brought by inflation and fiat depreciation.

Tesla, MicroStrategy, Square, Stone Ridge Holdings, and many other corporate firms have added billions of dollars of combined Bitcoin worth to their balance sheets in the last few months.

Crypto economist Ben Lilly noted in his latest report that the bitcoin accumulation spree among Wall Street firms outran the cryptocurrency’s supply. That led to a liquidity crisis, which persisted amid higher exchange BTC withdrawals and upped retail demand.

Mr. Lilly added that investors have flocked into the Bitcoin market as a means to escape the falling US dollar market. He further noted that those investors would not need to sell the cryptocurrency to realize their profits. Instead, they would collateralize their BTC holdings via decentralized finance services to earn yields.

“In doing so, investors can potentially side-step capital gains tax on their bitcoin while enjoying its price appreciation,” said Mr. Lilly. “And when bitcoin is six figures, it begs the question.”



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Minggu, 21 Februari 2021

Charted: Ripple (XRP) Rallies 20%, Why Dips Could Be Attractive

Ripple remained stable above $0.5000 and rallied above $0.6000 against the US Dollar. XRP price tested $0.6500 and it is likely to continue higher in the near term.

  • Ripple started a fresh increase above the $0.5500 and $0.6000 resistance levels against the US dollar.
  • The price is now trading well above $0.5800 and the 100 simple moving average (4-hours).
  • There was a break above a crucial contracting triangle with resistance near $0.5480 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair is trading nicely above $0.6000, and it is likely to continue higher towards $0.6500 and $0.6800.

Ripple’s XRP Price is Gaining Bullish Momentum

Recently, there was a sharp decline in ripple’s XRP price below the $0.5000 support zone. The price even spiked below $0.4500, but there was a quick recovery from $0.4326.

It started a strong increase above the $0.5000 resistance, outperforming bitcoin and ethereum. There was a clear break above the 76.4% Fib retracement level of the retracement level of the downward move from the $0.5842 high to $0.4326 low.

There was also a break above a crucial contracting triangle with resistance near $0.5480 on the 4-hours chart of the XRP/USD pair. The pair rallied above the $0.6000 resistance and it settled above the 100 simple moving average (4-hours).

Ripple (XRP)

Source: XRPUSD on TradingView.com

It spiked above the 1.236 Fib extension level of the downward move from the $0.5842 high to $0.4326 low. It tested the $0.6450 resistance zone and it is now trading nicely in a positive zone.

A clear break above the $0.6450 and $0.6500 resistance levels could pump the price further towards the $0.6880 level. The next major resistance on the upside is near the $0.7200 level. Any more gains could lead the price towards the $0.7500 level.

Dips Limited in XRP?

If ripple fails to continue higher above $0.6500, it could correct lower. An initial support on the downside is near the $0.5840 and $0.5800 levels.

The main support is now forming near the broken triangle and $0.5500. A downside break below the $0.5500 support zone could lead the price towards the $0.5200 zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now well above the 50 level.

Major Support Levels – $0.5850, $0.5650 and $0.5500.

Major Resistance Levels – $0.6200, $0.6500 and $0.7000.



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An Internet Free of Ad Cookies Is Now Closer Than Ever

Fractal Protocol offers a better experience for users and a fairer market for content creators

When you visit a website you will these days have to give consent for cookies, which are used to identify users as a returning visitor, analysing their use of any specific website, giving them access to third-party services and building a profile of their particular interests in order to show them relevant adverts on other websites.

Cookies cannot be processed if the user doesn’t consent for them and users can withdraw their consent and cancel the processing of cookies by removing them from their device, but most popular web browsers are set to allow the storage of cookies. Whilst the cookies by themselves can’t research user information, they do store personal information that is input into websites’ order forms, registration pages, payment pages and more.

The good, the bad, and the invasive

Having played a role in our browsing experiences for over 25 years, cookies collect and share both personal and browsing data of web users and, as the duopoly of Google and Facebook has grown, third-party cookies, in particular, have meant that security vulnerabilities have become more prevalent. On any one website a user could be exposed several times to potentially malicious cookies that collect their personal information without their knowing and with the eyes of the world locked more onto the screens of their devices than ever before, this is more of a concern than ever before for anyone that values their privacy.

But at the same time, online advertising remains to be one of if not the most effective ways for brands and businesses to reach their target audience, and third-party cookies have been a major way for these businesses to continue reaching pertinent consumers. Accurate, cost-effective targeting of potential consumers browsing the web is what is keeping many businesses around the world profitable in an uncertain economic climate, but with Google announcing that it plans to get rid of third party cookies entirely by 2022, e-commerce and web-based businesses that have previously relied on the siloed data of one the internet’s biggest giants are going to lose a powerful tool for data collection.

With both Firefox and Safari, the world’s two major web browsers, also announcing that their software would block third-party cookies by default, this spells a troubling time for the majority of publishers, content creators and digital marketers that have been forced to rely on Facebook and Google’s behemoth datasets. What’s even more is that although third-party cookies may be gone by next year, the Universal IDs that are being introduced as first-party counterparts will most likely still result in privacy issues for end-users.

A better way

So what is the solution? As content creators and digital marketers decide on how to approach the impending data drought, Fractal Protocol has emerged with a solution that looks to benefit all parties involved. Fractal Protocol looks to replace the ad cookie and give users back control over their data by creating data commons that will enable fair competition against the currency ad market duopoly.

Built as an open-source zero-margin protocol, Fractal Protocol defines a basic standard for exchanging data in a fair and open way, with an incentive system for the sale and purchase of ad inventory built on a transparent and trustless infrastructure. With the introduction of an ecosystem that rewards users for sharing and verifying their data, Fractal Protocol also democratizes the access and availability of data for both publishers and advertisers, giving them tools and methods to leverage valuable and verified user data.

“We believe that content creators should get paid for what they do and users should have self-sovereignty over their own data; simply because the infrastructure is open, free, and accessible.” – Julian Leitloff, Co-Founder & CEO Fractal Protocol

Having raised over $2m in a private round led by a variety of reputable blockchain, ad market and venture capital funds, the project this week announced its plans to launch a public investment round on the popular decentralized fundraising platform Polkastarter on Thursday, 25th February 2021.

Evolving privacy legislation and platform changes by the duopoly of Google, Facebook and also Apple means that very soon there will be less data available not only to brands but to the entire online advertising ecosystem – Fractal Protocol marks an exciting change in the way data can be collected, shared and earned without compromising the privacy of the end-user.

Image by Bernadette Wurzinger from Pixabay


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TA: Why Ethereum Could Correct To $1,750 Before A Fresh Increase

Ethereum failed to stay above $1,900 and corrected lower against the US Dollar. ETH price is correcting gains and it seems like to might test $1,750 before a fresh increase.

  • Ethereum is correcting lower from the $1,975 swing high and trading below $1,900.
  • The price is now testing the $1,850 support, but it is below the 100 hourly simple moving average.
  • There is a major bullish trend line forming with support near $1,850 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could dip further, but the bulls are likely to remain active near $1,750.

Ethereum Price is Correcting Gains

Ethereum made another attempt to settle above $2,000, but it failed. The recent swing high was formed near $1,976 before ETH price started a fresh decline.

There was a break below the $1,950 and $1,900 support levels. Ether price even tested the $1,850 support level and it is now trading well below the 100 hourly simple moving average. A low is formed near $1,853 and the price is currently consolidating losses.

An initial resistance on the upside is near the $1,880 level. It is close to the 23.6% Fib retracement level of the recent drop from the $1,976 high to $1,853 low.

Ethereum Price

Source: ETHUSD on TradingView.com

The first major resistance is near the $1,910 level or the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the recent drop from the $1,976 high to $1,853 low. The main resistance is now forming near the $1,940 level and a connecting bearish trend line on the hourly chart of ETH/USD.

To start a fresh increase, the price must settle above $1,910 and then gain momentum above the $1,950 level. In the stated case, the price could easily clear the $2,000 level.

Dips Supported in ETH?

If Ethereum fails to extend its rise above the $1,950 level, it could continue to move down. The first major support is near the $1,850 level.

There is also a major bullish trend line forming with support near $1,850 on the same chart. A clear break below the trend line support and $1,830 could open the doors for a move towards the $1,750 support zone in the near term.

Technical Indicators

Hourly MACD The MACD for ETH/USD is slowly gaining momentum in the bearish zone.

Hourly RSI The RSI for ETH/USD is now well below the 50 level.

Major Support Level – $1,850

Major Resistance Level – $1,950



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TA: Bitcoin Price Climbs Above $58K, Why Bulls Could Aim $60K

Bitcoin price remained in a positive zone and it traded to a new all-time high above $58,000 against the US Dollar. BTC is now correcting gains, but it is likely to continue higher towards $60,000.

  • Bitcoin extended its rise above $57,000 and it traded to a new all-time high at $58,350.
  • The price is still well above $55,000 and the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $55,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could continue higher and the bulls are likely to aim a test of $60,000.

Bitcoin Price Remains In Strong Uptrend

After a strong close above the $55,000 level, bitcoin price extended its upward move. BTC broke the $56,000 and $57,000 resistance levels. It even cleared the $58,000 level and traded to a new all-time high at $58,350.

Recently, there was a minor downside correction below the $57,500 level. There was a break below the 23.6% Fib retracement level of the upward move from the $54,000 swing low to $58,350 high. The price even spiked below the $57,000 level, but dips were limited.

Bitcoin found support near the $56,200 level. The 50% Fib retracement level of the upward move from the $54,000 swing low to $58,350 high is acting as a support. There is also a key bullish trend line forming with support near $55,000 on the hourly chart of the BTC/USD pair.

Bitcoin Price

Source: BTCUSD on TradingView.com

On the upside, the price is facing a short-term resistance near the $57,500 and $58,000 levels. A clear break above the $58,000 resistance could open the doors for a new all-time high. In the stated case, the bulls are likely to aim a test of $60,000.

Dips Limited in BTC?

If bitcoin fails to clear the $58,000 resistance zone, it could correct lower. An initial support on the downside is near the $56,000 level.

The first major support is near the $55,000 level. If there is a downside break below the trend line, $55,000, and the 100 hourly simple moving average, there could be a drop towards the $52,000 support.

Technical indicators:

Hourly MACD – The MACD is slowly gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is close to the 50 level.

Major Support Levels – $56,000, followed by $55,000.

Major Resistance Levels – $57,500, $58,000 and $60,000.



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A Review of BTCGOSU — Reviewer of Crypto Casinos

Gambling is one of the oldest pastimes that has evolved along with mankind. As humans continue to crave for the risk-reward rush, the simple guessing game that gambling was, is now technology-heavy. Offline gambling is now mostly confined to casinos at popular tourist destinations as more people flock to online casinos and gambling platforms that are dime-a-dozen.

The evergreen demand for gambling opportunities means companies offering products and services in this multi-billion-dollar industry continue to innovate by adopting the latest technologies.  The introduction of Bitcoin over a decade ago and the adoption of cryptocurrency’s underlying blockchain technology in the gambling industry are milestone achievements that brought about a drastic change in how majority of enthusiasts gamble online.  However, like all industries, there are bad apples in the online gambling sector too, making it particularly important to find the right platform where one can place bets and maybe even win a fortune.

BTCGOSU is a comprehensive Bitcoin Casino Guide that offers users independent assessment and reviews of crypto casino platforms, gambling games, ongoing promotional campaigns, along with the latest news updates and provably fair verifier tools. Created by a well-known BitcoinTalk.org user, BTCGOSU takes pride in being an unbiased and objective platform that puts the interests of the cryptocurrency gambling community on top of everything else.

The people behind BTCGOSU bring in over a decade of experience in the sector to act as the ideal watchdogs against fraudulent crypto gambling practices in the industry. In their words, “Rest assured we will never promote shady gambling website, and should any casino listed on BTCGOSU take the wrong route, we will be the first ones to fight for your right while of course stop promoting them.”

BTCGOSU derives its name from the Korean word “GOSU” commonly used in the context of e-gaming, which refers to veteran gamers. In essence, the people behind it as well as a significant portion of their userbase. For new gamers, it is a treasure trove with in-depth details of platforms and games that known to be fair and trustworthy.

Casino Reviews

The BTCGOSU team reviews hundreds of crypto casino platforms in various categories. The platforms are listed based on the features and ideal target audience. They are classified as

  • Anonymous Bitcoin Casinos
  • High Roller Bitcoin Casinos
  • Mobile Bitcoin Casinos
  • Provably Fair Casinos

Additionally, BTCGOSU also maintains a list of blacklisted casino platforms that are found to have indulged in fraudulent and unfair practices.

Bonuses

The online cryptocurrency casino market is crowded, and each platform wants to capture a bigger share than its neighbor. In order to do that, each casino runs its own promotional campaigns, predominantly comprised of various bonuses, followed by affiliate marketing and more.

BTCGOSU has turned itself into a one-stop spot for users to identify trusted platforms and all the different bonuses and other benefits offered by them. The various bonuses listed on the website include:

  • Cashback Bonus
  • Deposit Bonus
  • Exclusive Bonus
  • Free Spins
  • No Deposit Bonus
  • Referral Bonus
  • VIP Bonus
  • Welcome Bonus

A Long List of Games

BTCGOSU features an exhaustive list of popular online gambling games, offered on each of the platforms reviewed and published on the platform. Among this list includes numerous game titles across over 20 different game types like Baccarat, Bingo, Blackjack, Craps, Crash Games, Dice, HiLo Game, Keno, Live Dealer Games, Lottery, Minesweeper, Plinko, Poker, Roulette, Rummy, Scratch Cards, Sic Bo, Slots, Sports Betting, Table Games and Video Poker.

Apart from the game listing, BTCGOSU also provides a detailed review of gambling titles created by some of the leading developers, which are widely available on online casino and gambling platforms across the world.

Provably Fair Verifier

A very important tool in BTCGOSU’s arsenal, the Provably Fair Script Verifier is the biggest third-party utility in the market. Using it, players can verify the legitimacy of the bets placed on any of the supported platforms. Currently, BTCGOSU’s Provably Fair Script Verifier supports 27 casinos with 51 games and to verify the outcome of any bet, users will have to just enter the server seed, client seed and nonce into the tool.

Even though BTCGOSU doubles up as an affiliate website, it is transparent about the arrangement and also its commitment to safeguarding the community’s interests. The platform works only with reputable casinos and is prepared to take appropriate actions in case of any questionable activities by any of these casinos. Taking it a step further, it also offers has a Dispute Resolution and Mediation service that gives a voice to affected players who have failed to receive a satisfactory response from the casino operator. Furthermore, BTCGOSU also has a Deposit Guarantee option for those signing up on any online casino using affiliate links featured on the platform, offering them coverage of $500 in case of any disputes.

Overall, BTCGOSU strikes a fine balance between monetization and fair reviews as it serves as an industry watchdog that keeps most of the crypto casinos in line while keeping its community engaged with lots of giveaways, events, challenges and competitions. Meanwhile, people can stay up to date by checking the blog and joining the Telegram group.



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Today 11:40 am EST : First Bitcoin Elite NFT Art Drop

Tonite is a special drop, as it is the launch of The Bitcoin Elite NFT series, which starts with a new creation via a VESA piece titled The Foundation.

You can still join the session via https://www.thebitcoinelite.com/

Alternatively, follow the live feed of purchase and the auction of the 1/1 special at Nifty.show/YouTube


The piece is called “The Foundation”.

It’s a 20-second mixed media artwork, made to honor Satoshi Nakamoto and the invention of Bitcoin. You can see the 21 version from the link below.

http://https://twitter.com/BitcoinNFTs/status/1362911199017402372

This is a promo video about the whole Bitcoin Elite concept

NFT idea:

The universe is born out of the “genesis egg” concept in the Finnish mythology of Kalevala. This work, called The Foundation, dropping as the first piece with the Bitcoin Elite launch tomorrow, explores the forever tension of creation, value, the inevitable ensuing corruption, and return to value. In our recently passed time of postmodernism, we tried to distort everything to be about language, in an attempt to manipulate universal law to suit our perception of it. Due to the invention of Bitcoin, we returned to the construction phase after deconstruction atomized us in the recent decades. A new era began for art then, too, which we might call Integralism.

The work stands with the origin innovation discovery of mathematics, that math always existed, and we just learned its language. In other words, math is not fiction, it’s a tool of discovery. In the same vein, Bitcoin repels corruption by being protected by a decentralized mathematic protocol, more powerful than a single point of idealistic failure.
As Bitcoin is likely to go down in history as one of the greatest inventions of humanity, the piece attempts to not only pay homage to Satoshi Nakamoto but the path now possible because of this genesis.
The work will drop as an edition of 21 and a special 1/1 version.

See you there,

V E S A
Crypto Artist
All links to physical, NFTs, and more below
http://linktr.ee/ArtByVesa



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On-Chain Data: The Last Time This Happened, Bitcoin Rose Another 2x

According to Glassnode’s Bitcoin MVRV Z-Score indicator, Bitcoin is about to cross the red zone. The last time BTC saw this trend, it rallied two times more from its current price.

What is the Bitcoin MVRV Z-Score and why is this important?

The Bitcoin MVRV Z-Score indicator is typically used to measure whether an asset is undervalued or overvalued.

When this indicator reaches the top of the red zone shown below, it indicates that the market is likely overvalued.

Currently, the BitcoiN MVRV Z-Score indicator is about to enter the red zone. When it did in previous cycle, BTC rallied more than two-fold thereafter.

bitcoin price
The Bitcoin MVRV Z-Score. Source: Glassnode

Researchers at Glassnode explains:

“The MVRV-Z Score is used to assess when an asset is overvalued or undervalued relative to its “fair value”, as underlined by the deviation between its market cap and realized cap. When market value is significantly higher than realized value, it has historically indicated a market top (red zone), while the opposite has indicated market bottoms (green zone).”

This trend occurs because during a bull cycle, Bitcoin becomes overbought. But, it often extends after reaching the overbought territory because fear of missing out (FOMO) resumes.

If BTC follows previous cycles, then the price of the dominant cryptocurrency could reach $100,000 by the year’s end, which is the price prediction of most prominent investors.

A pseudonymous trader known as “LilMoonLambo” wrote:

“$BTC crosses into red territory for the first time since December 2017 The first time we tested the red territory in 2017 we pumped another 2x. Could we see something similar again?”

What happens next?

In the short term, it is key for Bitcoin to remain above the $54,000 level which has turned into a support area.

The price of BTC dropped to $54,000 overnight, tapping a liquidity area. Its strong recovery from that region indicates that there is strong buyer demand in the market.

Stablecoin inflows are rising and the Coinbase premium has returned. The combination of these two factors signal that the Bitcoin bull trend is intact.

bitcoin price
The price of Bitcoin. Source: BTCUSD on TradingView.com

When the premium disappeared, BTC saw pullbacks in the past month. As long as the premium remains high, which indicates U.S. buyers are accumulating, the bull trend would likely resume.

BTC is currently in price discovery, which means it is continuing to make new all-time highs. When it forms a top, then it is important that BTC defends the $54,000 level and $50,000 as key macro support areas.



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Sabtu, 20 Februari 2021

Ethereum Retreats From $2K, Why ETH Remains Strong Above $1,850

Ethereum traded to a new all-time high near $2,040 before correcting lower against the US Dollar. ETH price is trading nicely above $1,850 and it is likely to continue towards $2,000.

  • ETH price climbed higher steadily and it surpassed the main $2,000 resistance against the US Dollar.
  • The price is trading nicely above the $1,850 level and the 100 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $1,860 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is likely to continue higher above the $1,980 and $2,000 levels in the near term.

Ethereum is Gaining Momentum

This past week, bitcoin and ethereum saw a steady increase above $1,900 and $50,000 respectively against the US Dollar. ETH even cleared the key $2,000 resistance level to move further into a positive zone.

It traded to a new all-time high near $2,040 and settled well above the 100 simple moving average (4-hours). Recently, there was a short-term downside correction below the $2,000 and $1,950 support levels. Ether price even spiked below the $1,850 support level.

Ethereum Price

Source: ETHUSD on TradingView.com

However, the bulls were active near the $1,820 level. A low is formed near $1,813 and the price is currently rising. There was a break above the 50% Fib retracement level of the recent correction from the $2,040 high to $1,813 low.

There is also a key bullish trend line forming with support near $1,860 on the 4-hours chart of ETH/USD. An immediate resistance on the upside is near the $1,950 level. It coincides with the 61.8% Fib retracement level of the recent correction from the $2,040 high to $1,813 low.

A clear break above the $1,950 and $1,980 levels will most likely open the doors for more gains. Besides, a daily close above $2,000 will most likely pump the price towards $2,150 and $2,200.

Dips Supported in Ether (ETH)?

If Ethereum struggles to gain pace above the $1,950 level, it could correct lower. The first major support on the downside is near the trend line support and $1,850.

A downside break below the trend line support may possibly call for an extended decline below the $1,813 low. The next major support is near the $1,760 level or the 100 simple moving average (4-hours).

Technical Indicators

4 hours MACD – The MACD for ETH/USD is slowly gaining momentum in the bullish zone.

4 hours RSI – The RSI for ETH/USD is still above the 50 level.

Major Support Level – $1,850

Major Resistance Level – $2,000



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Why Bitcoin Price Rally Could Extend To $60K, Uptrend Seems Intact

Bitcoin price gained bullish momentum above $50K and traded to a new all-time high at $57,500 against the US Dollar. BTC remains supported and it is likely eyeing a test of $60,000.

  • Bitcoin climbed above the $50,000 resistance and traded to a new all-time high near USD 57,500.
  • The price is trading nicely above the $55,000 level and the 100 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $54,000 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
  • The pair is showing a lot of positive signs and the bulls seems to eyeing a test of $60,000.

Bitcoin Price is Gaining Traction

This past week, bitcoin price extended its rise above the key $50,000 resistance zone against the US Dollar. The BTC/USD pair even broke the $55,000 level and settled well above the 100 simple moving average (4-hours).

It traded to a new all-time high near $57,500 and recently started a downside correction. There was a sharp dip below the $56,000 and $55,000 levels. The price broke the 23.6% Fib retracement level of the upward move from the $50,634 swing low to $57,500 high.

However, the bulls were active near the $54,000 support level. The 50% Fib retracement level of the upward move from the $50,634 swing low to $57,500 high also acted as a decent support.

Bitcoin Price

There is also a key bullish trend line forming with support near $54,000 on the 4-hours chart of the BTC/USD pair. The pair is also recovering and trading nicely above $55,000. An initial resistance is near the $57,000 level. The first major resistance is near the $57,500 high.

A clear break above the $57,500 resistance is likely to open the doors for more upsides. The next major resistance for the bulls sits at $60,000.

Dips Supported in BTC?

If bitcoin struggles to clear the $57,500 resistance level, there are chances of a downside correction. The first major support is near the trend line and $54,000.

The next major support is near the $52,500 level (a multi-touch zone). If there is a clear break and close below the $52,500 support, the price could decline towards the $50,000 level in the near term.

Technical indicators

4 hours MACD – The MACD for BTC/USD is showing positive signs in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is still above the 60 level.

Major Support Level – $52,500

Major Resistance Level – $60,000



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Jumat, 19 Februari 2021

Overheard On CNBC: If It Wasn’t For Bitcoin, Gold Would Be $3K

Bitcoin is making headlines left and right on media outlets everywhere, but none more so than CNBC. According to a well respected journalist, during a segment on CNBC it was said that gold would be trading at $3,000 an ounce if it wasn’t for Bitcoin.

Here’s why that statement is probably true, and why the cryptocurrency will continue to take market share away from the aging shiny rock.

Gold Would Trade At $3K If It Wasn’t For BTC

The digital narrative worked like a charm, and Bitcoin is now stealing any capital looking to park somewhere resistant to inflation.

Gold has traditionally served that purpose, and as the economy first began treading on thin ice, the ages old asset that was once the “standard” began to uptrend again.

Related Reading | Seller’s Remorse: Day Trader Dave Portnoy Swears Off Bitcoin

Gold eventually reached more than $2,000 an ounce at the height of its bull market. Natural profit-taking caused the price per ounce to pull back, but rather than go for another leg higher, capital well suited for gold made its way into Bitcoin instead.

Because Bitcoin exists, and money is pouring into the scarce cryptocurrency instead of gold, has prevented gold from trading at $3,000 an ounce, according to a statement overheard on CNBC today.

The statement was shared in a tweet, fingering the blame on Bitcoin as the culprit for gold’s lack of price appreciation.

How Bitcoin Makes Metals Seem a Lot Less Precious

Charts don’t lie, fortunately, and comparing gold against Bitcoin definitely shows a correlation between when gold peaked and the cryptocurrency really took off.

The change took place just days after gold had topped, and publicly traded companies began buying BTC to add to company reserves.

bitcoin btc xau

Gold's value has been diminishing while Bitcoin's rises. Coincidence? | Source: BTCUSD on TradingView.com

That trend has now extended into the likes of Tesla, and more corporations are expected to follow suit and could be responsible for Bitcoin’s price appreciation.

Other reasons, however, are undeniably due to gold outflows from hedge funds and other investors. Even retail are now getting back into crypto, but are focused more on altcoins as the price per BTC becomes out of reach for the average person.

Related Reading | Chart Comparison Demonstrates Effectiveness Of Bitcoin Digital Gold Narrative

But even altcoins absorbing some of the capital that could have made its way into gold, is ultimately Bitcoin’s doing. It is because of the first ever cryptocurrency that the rest of the market exists, and according the the statement made on CNBC, is responsible for gold trading at under $2,000, let alone the $3,000 it would be otherwise.

Featured image from Deposit Photos, Charts from TradingView.com


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Binance Coin (BNB) Overtakes Tether For Third-Ranked Crypto Asset

Yesterday, Binance Coin closed at around $200 a coin, and within another 24 hours, the exchange token is already trading at another $100 higher.

The surge in price and corresponding FOMO has also caused the cryptocurrency token to climb the top ten assets by market cap, making it to the number three spot. Here’s why this is such a big deal for Binance and its native token.

Binance Coin Takes Third Rank in Crypto Top Ten

Binance Coin is having a record-setting month so far. February still has around a third of it left to go, and already the month is the largest candle in the asset’s history dollar for dollar.

Related Reading | Binance Coin (BNB) Sets Record For Largest Monthly Candle Ever

The rally keeps on going, taking the price per BNB token to a high of over $300 per token as of today. At the 154 million and some odd BNB tokens in circulation, this has resulted in a $48 billion market cap, now nearly $15 billion ahead of the next closest crypto asset – the stablecoin Tether.

binance coin bnb

BNB surpasses Tether and several other coins | CoinMarketCap

Tether’s market cap is solely supply based, as its price is tied to the dollar and doesn’t fluctuate significantly. Tether has had the number three spot for some time, taking from XRP as it sinks ever deeper down the list of top cryptocurrency by market cap.

XRP enjoyed the third rank for years once it got there, and only recently began its descent due to an ongoing lawsuit filed by the SEC against Ripple.

Binance Coin, however, was barely cracking the top ten before this month, and is now right behind only Ethereum and Bitcoin in terms of total capital.

What Is Behind The Exchange Token’s Unprecedented Comeback

As for why the token is performing so well, it is a sign of the overall demand for the crypto market as a whole. Bitcoin taking off helped propel altcoins back into an uptrend, which is now making investors money once again.

binance coin bnb

blah | BNBUSDT on TradingView.com

Chatter about coins making small fortunes, is once again luring more and more investors to altcoins. And there’s no platform that’s more so associated with altcoins, than Binance.

Binance was the place to be during the last major altcoin season, which saw Binance Coin also jump in demand. The latest monthly candle is the largest since then, suggesting that lightning is striking the exchange and related token twice.

Related Reading | An SEC Ripple Effect Leaves XRP Sliding the the Crypto Top 10

And because the exchange is so active and relies heavily on the token to underpin its massive and ever-expanding ecosystem, Binance Coin is one of the more valuable cryptocurrency tokens in the market. It is only now the market is realizing this value, and price is catching up accordingly.

Featured image from Deposit Photos, Charts from TradingView.com


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Binance Coin Spikes 100% After Threatening Ethereum’s Dominance

This week, transaction fees on the Ethereum blockchain grew to a level that made the decentralized applications (dapp) operating atop it practically unusable. In some cases, transferring as little as $5 across the second-largest public chain started costing as high as $300.

With no choice left, many of the dapp developers decided to run the same operations on a rivaling blockchain network, the Binance Smart Chain, a public ledger that offered to do the same tasks Ethereum does at 99 percent lesser costs. On Wednesday, the BSC blockchain processed about 2.12 million transactions compared to 1.26 million on Ethereum.

The strong shift also appeared as PancakeSwap, a UniSwap ripoff launched atop the BSC blockchain, rivaled Ethereum-based decentralized exchanges, driving a 1,000 percent-plus liquidity surge this year, accompanied by strong volumes—from $37 million on Jan. 1 to $1.68 billion on Feb. 19.

Meanwhile…

…Binance Coin (BNB/USD), a native token in the Binance’s ecosystem, was always at the center of BSC’s developments. Its prices in the US dollar market surged from $42 on January 1 to as high as $291 on January 19. Traders merely saw holding opportunities by taking cues from the Binance’s expansion into Ethereum’s turf.

The last five days saw BNB/USD surging by more than 100 percent. Ethereum remained pressured under the $2,000-level in the same period.

Binance Coin, BNBUSD, BNBBTC, BNBUSDT, cryptocurrency
Binance Coin hit new all-time highs on booming BSC adoption. Source: BNBUSD on TradingView.com
Binance Coin hit new all-time highs on booming BSC adoption. Source: BNBUSD on TradingView.com

Analysts now anticipate the BNB/USD rally to fly further upward, with the next primary targets sitting above the $300-level.

Bitcoin’s Role in Pushing Binance Coin Upward

More tailwinds for Binance Coin also come from the prospect of an overall crypto boom, led by Bitcoin’s meteoric rise in the last eleven months. The flagship cryptocurrency surged by more than 1,200 percent from its mid-March nadir of $3,858 as institutions realized its safe-haven credentials amid an uncertain global economic outlook.

Corporate houses, including Tesla, MicroStrategy, Square, and Bitwise, bought billions of dollars worth of Bitcoin to diversify their balance sheets with cash alternatives. Meanwhile, billionaire investors such as Paul Tudor Jones and Stan Druckenmiller also promoted cryptocurrency as digital gold— a hedge against a depreciating US dollar.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin hits an all-time high. Source: BTCUSD on TradingView.com
Bitcoin hits an all-time high. Source: BTCUSD on TradingView.com

As crypto adoption surges, it increases sign-ups across all the cryptocurrency exchanges. Meanwhile, that boosts Binance Coin’s adoption against its depleting supply rate.



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Bitcoin’s Liquidity Crisis Leads to Another Demand-Driven Record High

Bitcoin bulls are not running out of fuel.

On Friday, traders once again raised their bids for the world’s leading cryptocurrency, sending its prices to another record peak after Grayscale Investments, a New York-based crypto investment vehicle, added 1,672 BTC to its already-ballooning bitcoin stockpile. The firm now holds 655.44 BTC, worth almost $33.5 billion.

Grayscale’s accumulation spree removed more bitcoin from circulation against its rising demand among retail and institutional investors.

In a note published Thursday, analyst Ben Lilly highlighted that bitcoin investment made by Grayscale, Tesla, MicroStrategy, Ruffer Investments, Square, Bitwise, and other firms sucked more of the cryptocurrency out of supply than produced. Meanwhile, retail traders withdrew Bitcoin en masse from exchanges, adding further to the brewing liquidity crisis.

“It means bitcoin is in fact becoming scarce,” Mr. Lilly stated. “If this continues, a liquidity crisis will transpire pushing prices considerably higher.”

Bitcoin At Another Top

The BTC/USD exchange rate topped at $52,875 during the early London session after rallying 2.48 percent into the day.

The pair pared a modest portion of its gains later, falling to as low as $52,619 but maintained its upside bias above crucial technical supports. That, coupled with falling Bitcoin reserves across all the exchanges, raised the cryptocurrency’s potential to log an extended bull run in the sessions ahead.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin forms another frothy top amid an institutional-led price boom. Source: BTCUSD on TradingView.com
Bitcoin forms another frothy top amid an institutional-led price boom. Source: BTCUSD on TradingView.com

The spike already led BTC/USD up by 85 percent this year. Meanwhile, the move extended the pair’s net rebound from the March 2020 lows of $3,858 by more than 1,260 percent, making Bitcoin one of the world’s best-performing global assets during the coronavirus pandemic.

But…

…Ki-Young Ju raised some red flags.

The CEO of CryptoQuant—a South Korea-based blockchain analysis firm, noted that the latest Bitcoin bull run appeared despite a negative Coinbase premium. It means that stablecoin whales and retail investors drove the prices upward, which tends to have shorter risk timeframes than institutional investors.

“Not a healthy bull without USD spot inflows,” said Mr. Ju.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Coinbase Premium acts as a benchmark to gauge institutional interest in the spot bitcoin market. Source: CryptoQuant
Coinbase Premium acts as a benchmark to gauge institutional interest in the spot bitcoin market. Source: CryptoQuant

Nevertheless, analysts with a bias towards technical patterns believed Bitcoin would continue its upside. A pseudonymous trader noted that the cryptocurrency could hit $60,000 in the near-term after breaking out of a bull flag. It is a bullish continuation pattern.

“It seems BTC has more gas left in the can. Bull flag breakout target around $60k being given added confluence by BPRO TP2 also given around there.”

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin bull setup, as highlighted by Trading Tank. Source: BTCUSD on TradingView.com

BTC/USD was trading at $52,811 at the press time.



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