Archive for October 2020
Kylin Launches Oracles to Protect DeFi Against Bad Actors
Kylin Network, a platform developing a cross-chain data infrastructure and the Data Economy 3.0, announced the release of decentralized oracles as part of the first applications of its technology for providing the DeFi market with an accurate, reliable, and cost-effective source of external information. The oracles developed by the Kylin Network can remove the risks…
Read MoreDouble Top Warning in S&P 500 Pressures Bitcoin Lower
Bitcoin is entering a period of uncertainty amid a growing conflict between its fundamental bullish mood and bearish technical setup. The benchmark cryptocurrency has attracted hundreds of millions of dollars worth of capital from corporations that see it as a hedge against a potentially weaker US dollar. At the same time, Bitcoin’s erratic positive correlation with…
Read MoreRising Coronavirus Cases, Lack of Stimulus, US Election
The US dollar dropped on Tuesday amid concerns of the rising coronavirus cases in Europe and the US, and uncertainties surrounding the US election. How will it move against the Japanese yen in the coming weeks? On Monday, the USDJPY gained slightly amid the US, Russia, and France seeing a second wave of coronavirus infections.…
Read MoreBitcoin Holds Above Critical Support Level as Bulls Target $14,000
Bitcoin has seen some further upside today despite the intense selloff seen in the stock market This confirms the narrative regarding it now being fully decoupled from traditional assets It has also been able to set new yearly highs this morning when it rallied towards $13,500 If it continues holding above its near-term resistance-turned-support at…
Read MoreBitcoin Escapes Stock Market Sell-Off on Booming Safe-Haven Appeal
An overnight attempt to crash Bitcoin alongside the US stock market met with extreme resistance as the cryptocurrency bounced back handsomely. The BTC/USD exchange rate lost $465, or 3.51 percent, after the New York opening bell Monday. The pair fell to as low as $12,785, only to find a considerably higher buying sentiment. As a…
Read MoreBitcoin Expected to Rocket Higher as “Strong Close” takes Place Above $13k
Bitcoin printed a massive weekly close on Sunday evening after a strong rally. The weekly close was the highest since January 2018. One analyst thinks that this close will send Bitcoin much higher in the months ahead. Bitcoin Expected to Rocket Higher on Close Above Resistance Bitcoin printed a massive weekly close on Sunday evening…
Read MoreEthereum Prints Pivotal Bullish Signal as It Holds $390 Region
Ethereum is expected to move much higher in the months ahead as the leading cryptocurrency prints a bullish technical signal. Ethereum Bounces Cleanly Off $390 Horizontal Region in Bullish Move As the chart shared below shows, ETH recently bounced off the $380-390 horizontal region, which marks a win for bulls. The chart shows that over…
Read MoreThe Number of Bitcoin Whales Has Never Been Higher
Bitcoin has been seeing some strong price action throughout the past few days Bulls have been in firm control, with bears struggling to gain any ground as they fail to spark any meaningful selloffs This price action has allowed BTC to form a market structure that is arguably the strongest seen since before the late-2017…
Read MoreEthereum Expected to Bounce as Price Cleanly Bounces Off $385
Ethereum has undergone a 6% drop over the past 24 hours in the face of the stock drop. The Dow Jones is down 3% during Monday’s trading session. Analysts think ETH could bounce, though, as the coin has recovered to $390. One analyst noted that the coin is now trading above the pivotal swing level…
Read MoreBitcoin and Cryptocurrency Market Analysis – 26.10.2020
In a week where equity markets have stagnated, bitcoin bucked the trend as it pushed through the $12,000 resistance level, as well as touching and seeing some resistance at $13,000. Altcoins were buoyed by bitcoin’s rise, with ETH, XRP, LTC, and chainlink all showing upward trajectories too. Simon Peters, Analyst, eToro Shares His Opinion On…
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