Financial Industry News
Bitcoin (BTC) price had a relatively muted day as the digital asset traded between $8,700-$8,885. Currently, the price remains below the ascending channel trendline and the daily candle closed as a neutral doji, showing bulls and bears are in contention on the direction Bitcoin will take over the short-term. Crypto market weekly price chart. Source: […]
Continue ReadingChinese tech giant Tencent Holdings will allocate nearly $70 billion (500B yuan) over the next five years in fintech development, including blockchain, cloud computing, and artificial intelligence (AI). Reuters reported on May 26 that the company, which is behind the WeChat messaging app, hopes to strengthen the development of fintech across the country, following the […]
Continue ReadingIt’s been an interesting past few weeks for Bitcoin. First, there was the halving. Then an early miner from 2009 initially believed to be Satoshi Nakamoto moved 50 Bitcoin, 10 of which were distributed amongst wallets, one of which purportedly belongs to Coinbase. Most recently, another early Bitcoin miner from 2009/2010 with access to tens […]
Continue ReadingBitcoin has once again found itself caught within a bout of sideways trading as it struggles to garner any momentum as it hovers around the $8,800 region. This is around the price point at which it has been trading at throughout the past couple of days, and it does appear to be a critical support […]
Continue ReadingAfter two years of uncertainty since 2017’s mega bull run, the signs are looking promising for a big crypto rally, says the co-founder of market analytics company Digital Assets Data. “I believe a major crypto bull cycle is inevitable,” CEO Mike Alfred told Cointelegraph. Coronavirus shakes up the global economy Several months of coronavirus prevention […]
Continue ReadingEthereum has been underperforming Bitcoin and many of its other peers over the past couple of months, with its sharp decline from yearly highs of $290 doing some damage to mid-term market structure. It now appears that Ethereum could be positioned to gain some ground against the rest of the market, as its technical outlook […]
Continue ReadingBitcoin has been finding some slight support at $8,800 throughout the past day, but the buying pressure here appears to be quickly degrading The crypto is also on the cusp of breaking below a technical formation that could spark some serious downside If it bears are able to shatter the slight support that has been […]
Continue ReadingA senior figure at the International Monetary Fund (IMF) believes a digital currency backed by a central bank would open the door to much greater innovation in retail payments. Tommaso Mancini-Griffoli, the IMF’s deputy division chief in the Monetary and Capital Markets Department, said synthetic CBDCs – digital currencies backed by the liabilities of a […]
Continue ReadingThe equities markets far outpaced cryptocurrencies Tuesday on optimism that economic restrictions put in place to help slow the spread of the coronavirus are easing. Bitcoin (BTC) poked its head above the $9,000 level briefly during morning trading in New York but fell to below $8,700 on selling. As of 20:35 UTC (4:35 p.m. ET), […]
Continue ReadingKnown for their regulation-friendly outlook within the crypto industry, Gemini exchange founders Tyler and Cameron Winklevoss hold a hybrid approach to privacy and government rules. The twin brothers explained in a May 22 podcast interview with Peter McCormack that crypto adoption comes a need for some degree of regulation. Cameron added: “The independence and sovereignty […]
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