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Ethereum struggled to continue higher and declined below $400 against the US Dollar. ETH price is consolidating losses and it must surpass $395 for a fresh rally. ETH price corrected lower below the $400 and $392 support levels against the US Dollar. The price is trading near the $385 zone and the 100 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $395 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is likely to rally if it clears the $392, $395 and $396 resistance levels. Ethereum Price is Facing Key Hurdles This past week, Ethereum started a downside correction from well above $400 against the US Dollar. ETH price even traded below the $392 support level and the 100 simple moving average (4-hours). A swing low was formed near $373 and ether price started an upside correction after bitcoin’s sharp increase towards $14,000. There was a break above the $380 and $382 levels. The price even climbed above the 23.

via Bitcoin News https://ift.tt/3mGmODQ While bitcoin has run-up to all new price highs in 2020, a great number of crypto supporters have been complaining about the mempool backlog and the high fees needed to send a transaction. Meanwhile, the Lightning Network is far from seeing widespread adoption, and a number of attack vectors have been revealed this year. At the time of publication, the Bitcoin ( BTC ) mempool (backlog of transactions) shows 113,000+ unconfirmed transactions and the backlog hasn’t been this high since 2017. When the bull run took place three years ago, transaction fees and unconfirmed transactions shot through the roof. Currently, according to bitcoinfees.cash data on October 31, the next BTC block fee is $10.77 and the current median fee is $6.43. Even with the high fees and the mempool clog , the greater bitcoin community is still transacting mostly onchain. The Layer 2 protocol built on top of Bitcoin called the Lightning Network (LN) was supposed to eas

Bitcoin price traded to a new monthly high at $14,081 before starting a downside correction against the US Dollar. BTC is now approaching the $13,600 and $13,500 support levels. Bitcoin extended its rise above the $13,500 and $13,800 resistance levels. The price traded as high as $14,081 and settled well above the 100 simple moving average (4-hours). There is a key rising channel forming with support near $13,600 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could resume its rise as long as it is trading above the $13,600 and $13,500 support levels. Bitcoin Price Correcting Gains This past week, bitcoin followed a bullish path above the $13,000 resistance against the US Dollar. The BTC/USD pair broke many hurdles near $13,500 and $13,800 to move further into a positive zone. It traded as high as $14,081 and settled well above the 100 simple moving average (4-hours). Recently, the price started a downside correction and traded below $14,000 and $13

Bitcoin is censorship-resistant… The hashtag #Bitcoin is not. Over the past days, Facebook has been busy censoring all posts that include the #Bitcoin hashtag in the description. There are no distinctions: Videos, photographs, and even messages have been censored, blocking the public from accessing any information related to the cryptocurrency. Upon entering the hashtag, users in different parts of the world are confronted with a censorship screen in which Facebook ensures that posts are “temporarily hidden” in order to keep the community safe, according to its policies . Facebook has hidden search results for #Bitcoin. Image: Facebook   Several users went on Twitter (where it is possible to talk about Bitcoin) to denounce the ban. Twitter, unlike Facebook, has a pro-bitcoin point of view. Not only it allows the hashtag, but the cryptocurrency also has its own emoji . Its CEO, Jack Dorsey, has talked about Bitcoin on numerous occasions, saying it will play a significant role in

Yearn.finance (YFI) underwent a strong bounce on Friday after the coin hit multi-week lows of $9,800. The cryptocurrency surged around 20% from $9,800 to $11,900 over the span of eight hours. But unfortunately for buyers of the cryptocurrency, it has continued to decline. Yearn.finance’s governance token currently trades for $10,500, failing to hold the aforementioned highs despite strength in the Bitcoin price. Related Reading : Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Yearn.finance Drops Toward $10,000 YFI currently trades for $10,500, down over 10% from the local highs of $11,900. Market data suggests that this continued sell-off is a byproduct of futures short selling. Mechanism Capital’s Andrew Kang shared the tweet seen below on October 30th, noting that YFI’s recent downward price action has been predicated on the open interest of Binance’s YFI futures market rising. This indicates that investors may be increasingly shorting the asset, resulting in downward

Chainlink’s price action has been rather lackluster as of late, with its price lacking a clear trend as it consolidates alongside Ethereum and the rest of the crypto market. However, there’s a strong possibility that this will soon shift as Bitcoin’s ongoing uptrend will eventually lead to a capital rotation even that causes significant inflows of capital to move from BTC and into higher-risk assets like altcoins . Once this occurs, LINK will likely be one of the first altcoins to gain some serious momentum due to its tendency to post parabolic movements. Not only is Chainlink bullish from a technical standpoint, with strong support below $11.00 sparking rebounds with every attempted selloff, but the cryptocurrency also has some fundamental factors playing in its favor. According to one analytics firm, the top 100 Chainlink holders have been aggressively accumulating at these price levels, providing it with strong buy-side support and showing that large investors are confident tha

Top coins in the decentralized finance (DeFi) space such as Uniswap’s UNI and AAVE have slipped lower even as Bitcoin inches higher. Most top DeFi coins have dropped approximately five percent in the past 24 hours as per CoinGecko while Bitcoin has gained over 2%. The leading cryptocurrency briefly traded above the pivotal $14,000 resistance level today but has since dropped due to large sell orders in the $14,000 range. Related Reading : Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Strong Fundamentals Contadict Drop in Coins Such Uniswap, Aave, & More The strong decline in the coins of top DeFi players such as Uniswap, Aave, Synthetix, and Yearn.finance is contradicted by fundamentals. The fundamentals of the decentralized finance space have only strengthened over recent weeks and months, confusing investors in the space. Head of DTC Capital Spencer Noon  noted that while top coins are down by over 60% from their highs, the “most important indicators” of the health

Bitcoin (BTC) Price Prediction – October 31, 2020 BTC/USD now trades below the $14,000 resistance. The king coin pulls back each time it retests the current resistance.  The crypto has continued to sustain above the simple moving averages. This is responsible for the upside momentum. Resistance Levels : $13,000, $14,000, $15,000 Support Levels : $7,000, $6,000, $5,000 BTC/USD – Daily Chart On October 21, after breaking above the $12,000 and $12,460 resistance, the upside momentum was maintained consistently on the 4-hour chart. At that point, the price is making a series of higher highs and higher lows. Today, because of the rejection at the $14,000 resistance, the price has fallen to the range-bound zone of $13,060 and $13,800. BTC price was earlier struggling to break the resistance at $13,800. After that, the range-bound movement narrowed to $13.060 to $13,600. At this narrow range, a breakout occurred to clear the resistances at $13,600 and  $13,800. The bullish momentum

via Bitcoin News https://ift.tt/3mIAluG Cryptocurrency supporters all around the world are celebrating the fact that today is the 12th anniversary of the Bitcoin white paper, a summary of the invention created by the pseudonymous inventor Satoshi Nakamoto. Bitcoin’s inventor published the paper on metzdowd.com’s Cryptography Mailing list and ever since then, the financial world hasn’t been the same. 12 years ago, Satoshi Nakamoto decided to let the world in on Bitcoin, the peer-to-peer electronic cash system that took the world by storm. The very first time Nakamoto published the paper was at 2:10 p.m. Eastern Standard, on metzdowd.com. There’s a lot we don’t know about Bitcoin’s inventor and to this day the anonymous creator’s identity is still unknown. However, we do know that Nakamoto was a legendary genius and could have been a single person or even a group of people. Bitcoin’s inventor specifically chose to publish the “ Bitcoin P2P e-cash paper ” paper on metzdowd.com mainl

One of the biggest Bitcoin stories of the year was the news that MicroStrategy , a business services company, had deployed $425 million into BTC. The move garnered much attention within the cryptocurrency space, with many seeing this as validation of Bitcoin’s store of value properties. But outside of crypto, few knew about this purchase. The move was widely covered by industry media like NewsBTC , but coverage about this move by mainstream media was somewhat scarce. At least until recently. Related Reading : Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Hits Front Page of the WSJ On Friday morning, the Wall Street Journal published an article covering MicroStrategy’s half-a-billion Bitcoin bet and about the space as a whole. As noted by Su Zhu, CIO of Three Arrows Capital, the story about the investment hit the front page of the Wall Street Journal’s online edition. front page of WSJ $BTC https://t.co/zsUIcAMsc2 — Su Zhu (@zhusu) October 30, 2020 While th

For all we don't know about Satoshi, we can tell he loved a touch of theatricality Satoshi Nakamoto announced the Bitcoin whitepaper on a cryptography mailing list on Halloween 2008. It could be the case that this was a meaningless coincidence, but when we take into account the meticulous planning behind Bitcoin’s launch party, the chosen date begins to look more meaningful. Halloween is the carnival time, a ritual day when one can pretend to be someone or something else, whether a comic book superhero like Batman or Superman, or another eternally popular choice for Halloween, a Ghost — a spirit, much like Satoshi, that is neither dead nor alive.  The carnival tradition goes back hundreds, even thousands of years, and there is no more apt day for the creator of Bitcoin to reveal the persona of Satoshi Nakamoto than Halloween. “The mystery and the paradox of it” Whoever created the pseudonym Satoshi Nakamoto, they likely came from the cypherpunk community, a variegated bunch

China's president said the nation should proactively participate in setting the international framework. from CoinDesk https://ift.tt/2GiE4PW via IFTTT

The Breakdown weekly recap looks at bitcoin buying by Iran, JPM Coin and the latest round of lockdowns coming to Europe. from CoinDesk https://ift.tt/322cCgV via IFTTT

via Bitcoin News https://ift.tt/2TCT9yM The acting director of the U.S. Office Comptroller of Currency (OCC) Brian Brooks says the creation of the U.S. digital dollar is a terrible one because the government is not good at building things. Instead, Brooks believes tech companies, which already possess the know-how, to be in a better position to issue stable digital currencies. He says the U.S. government needs to focus on doing what it does best-regulation. Growing Stablecoin Supply The acting comptroller of currency’s comments come as reports suggest the US is currently working on a digital dollar. However, the U.S. digital dollar can only be issued in four years’ time. Speaking in an interview , Brooks, who uses analogies to support his stance on stablecoins, believes the United States can only flourish when the government allows the private sector to innovate. Expounding on this belief, Brooks says U.S. government regulatory agencies should instead be concerned with the protect

via Bitcoin News https://ift.tt/3epeOUV PRESS RELEASE. Yield Trust Team from Stockholm, Sweden is ready to launch their new DeFi protocol for public access, providing users exciting and unique technologies to finally beat market manipulation and reduce market affection by the whales. The protocol is going to grow all around starting it’s move to Polkadot after releasing all significant features and might become one of the biggest multichain DeFi projects in the industry. What makes Yield Trust so unique? Yield Trust is part of the large Yield Trust protocol which will include way more features in future to build around the main governance which will control the whole ecosystem of dApps. It is built for people not users implying a trust score system to treat everyone as a person. Main Yield Trust advantage is that it is not another compilation project from the others or copycat or fork. It brings absolutely new features to decentralized finance scope. Upcoming Features of Yield

Bitcoin’s roller-coaster continued in the past 24 hours with significant fluctuations resulting in a few $500 moves and it finally breaking the previous 2019 high. The altcoins have taken a breather with some green charted, and the market capitalization has increased by around $15 billion. Bitcoin Goes On A Wild 24H Ride It’s safe to say that Bitcoin’s dull days are behind the cryptocurrency. As CryptoPotato reported yesterday, ECB’s announcement drove the asset to nearly $13,700 before losing about $450 rather rapidly. The price drop resulted in BTC’s intraday low of about $13,150. Since then, though, the primary cryptocurrency has been gradually increasing. Just a few hours ago, this materialized in a daily high of about $14,100 on Binance, which is a price point that we haven’t seen since January 2018. Since then the cryptocurrency retraced to about $13,900 where it currently trades. It’s interesting to see whether BTC will be able to keep up with its bullish momentum. BTC/U

The price of Bitcoin has surpassed the critical $14,000 mark, the highest level since January 2018. The price of Bitcoin ( BTC ) surpassed $14,000 on Oct. 31, the day Satoshi Nakamoto released the Bitcoin whitepaper in 2008. Since then, the world's biggest cryptocurrency has seen remarkable and exponential growth across various areas. The daily price chart of Bitcoin. Source: TradingView.com Fast forward 12 years, since the October 31, 2008 release of the whitepaper, Bitcoin is in a different growth trajectory. An institutional craze is leading the BTC rally, major financial institutions are supporting crypto assets, and the market has become increasingly liquid. Post-halving bull cycle meets Bitcoin 12-year anniversary The 12-year anniversary of the Bitcoin whitepaper is particularly special for Bitcoin because it marks the third post-halving cycle. Every four years, Bitcoin undergoes a block reward halving , which cuts the rate at which new BTC is mined by half. This ha

DistX has just launched its token sale platform, where projects can quickly raise funds. Users of the new exchange can now find all past, present, and upcoming token sales in one convenient location. Users can also view the smart contract guaranteed settings designated by the token sale teams and contribute straight from the DistX site. What’s more, DistX offers rewards for contributors via a unique DISTXR redemption token. This non-fungible token (NFT) is redeemable for the token sale tokens at any time, and to any address, after the completion of the token sale. DistX Project Updates Following the DistX platform’s launch in Oct.28, the project has continued reaching out to token sales teams everywhere. Plenty of promising projects have expressed their desire to run their sale on DistX. Following the massive influx of teams, DistX has now mandated KYC to deter those who might attempt to rug pull. The token sale platform announced the Never Sellephant NFT give away on Oct. 14,

China’s appreciation of blockchain technology is a well-established fact by now. As the country comes closer to launching its CBDC across the entire nation, other firms are preparing for it too. The latest example of this is Huawei , which just announced that its new line of smartphones will come with an integrated wallet for digital yuan. A new wallet comes with Huawei’s new phone series The new series of Huawei smartphones, known as the Mate40 series, will include an integrated wallet for China’s upcoming central bank digital currency (CBDC). The company announced this only yesterday, October 30th, on the local microblogging platform, Weibo. The announcement revealed that users will have the ability to protect their anonymity, and control the level of it. Not only that, but they will also be able to perform dual offline transactions. Such transactions allow smartphone users to transfer funds by touching another device, despite the fact that neither of the devices is connected to

It was earlier this month when Shenzhen, China’s government officials had announced that it would enact a pilot program dedicated to the promotion of the Digital Yuan. This promotion came by way of a public giveaway, done in collaboration with the People’s Bank of China (PBoC). Ten million Digital Yuan, worth around $1.5 million, was distributed to 50,000 respective winners, having been distributed by way of a lottery. This comes according to Sina Finance, a local news agency that reported about the matter. Digital Yuan Expanding Through Giveaway The Luohu Digital RMB Red Envelope event distributed 200 Renminbi per lottery winner. The money itself could be spent from the 12th and 18th of October, 2020, and can be used by any of the merchants within the Luohu District of Shenzhen, some 3,389 in total. Of course, there are rules to this giveaway, with the rules of use stating that this grant money cannot be redeemed in their own bank accounts, nor can it be transferred to another per