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Bitcoin just hit a new all-time high on top exchanges such as Binance and Bitstamp. This was marked by an influx of retail interest in the cryptocurrency, as many mainstream media outlets reported on BTC hitting new all-time highs. Many see this as validation of Bitcoin’s use case as a store of value. The cryptocurrency managing to bounce so hard from its March lows has satisfied many bulls that think the coin was then undervalued. Related Reading : Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Trends on Twitter Bitcoin temporarily trended on Twitter during this strong surge higher. For some, it continues to trend on the social media platform, though it seems to depend on which region you are based in. Most of the top posts pertained to the all-time high. Many tweeted their excitement that the coin had hit its all-time high, with many referencing how this was a long-time coming for Bitcoin and those who had followed the coin . Many that tweeted are involved in

Decentralized finance, or DeFi, has become one of the year’s most remarkable growth stories. As millions of users converge on this new paradigm-shifting technology, questions surrounding the legitimacy and accountability of DeFi platforms are becoming more critical. Although there are hundreds of companies in the DeFi sector, only one is backed by an SEC-regulated, publicly listed enterprise—xSigma Corporation. Founded in 2018 as a blockchain research and development lab, xSigma is a subsidiary of ZK International Group (NASDAQ: ZKIN), a multinational manufacturing and technology company with a presence in Asia, Europe and North America. Through the support of its parent company, xSigma is building a decentralized marketplace that will allow for the proliferation of affordable financial services, payment solutions and custody. XSigma’s public backing and world-class development team bring a new level of transparency, accountability and legitimacy to the DeFi sector. Through ZK Inter

A surge of validators awaiting Eth2 staking has pushed Ethereum’s node count to 11,259 — surpassing Bitcoin by more than 100. Ethereum 2.0 genesis stakers have pushed the total number of Ethereum nodes past the number of Bitcoin nodes for the second time this year. According to Ethernodes.org, 11,259 Ethereum nodes are currently active, giving it a roughly 1% lead over Bitcoin’s 11,136 . Ethereum’s node count last surpassed Bitcoin’s in early September. The number of Ethereum nodes has increased by more than 50% in the past two weeks or so, spiking from 8,086 on Nov. 15 — 11 days after the Eth2 deposit contract went live. Ethereum’s node count overtook Bitcoin’s on Nov. 30. Ethereum historic node count: Ethernodes.org According to Blockchain Center’s “Flippening” index — which seeks to track the strength of Ethereum’s network relative to Bitcoin — the surge in node counts has seen the index gain from 50.5% to 62.4% over the course of November. The Flippening Index: Blockchai

Ethereum started a strong increase and broke the $600 resistance against the US Dollar. ETH price is up over 4% and it could even surge above $625. Ethereum remained in a positive zone and climbed above the $600 resistance level. The price traded close to the $620 level (as discussed yesterday) and settled above the 100 hourly simple moving average. There is a key rising channel forming with support near $595 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher above the $620 and $622 levels in the near term. Ethereum Price is Showing Positive Signs Yesterday, we discussed the chances of more upsides in Ethereum towards the $620 resistance . ETH price did gain bullish momentum above the $585 and $600 resistance levels. It traded close to the $620 resistance and settled above the 100 hourly simple moving average. A high is formed near $618 and ether is showing positive signs similar to bitcoin . It is currently consolidating gains and tra

Bitcoin price is up over 5% and it is trading above the $19,500 level against the US Dollar. BTC bulls seem to be aiming a new all-time high above the $20,000 resistance. Bitcoin is rising steadily and it broke a major hurdle at $19,500. The price traded as high as $19,860 and it is now well above the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $19,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong surge once it clears the $19,800 and $19,850 levels. Bitcoin Price is Approaching $20K Yesterday, we saw the start of a decent increase in bitcoin price above the $18,500 resistance. BTC remained in a positive zone and cleared the $19,000 resistance. The price even climbed above the $19,500 resistance and traded to a new 2020. Bitcoin price traded as high as $19,860 and it is now well above the 100 hourly simple moving average. There was a minor downside correction recently below

Amid ongoing legal action from U.S. authorities, the company behind Bitmex — 100x — has announced a new CEO. 100x — the holding group for Bitmex’s parent company — has announced the appointment of a permanent new CEO in the wake of charges filed in Octob against the exchange’s co-founders, including former CEO of both 100x and Bitmex, Arthur Hayes. On Dec. 1, 100x announced that the former chief executive officer of German stock exchange Borse Stuttgart GmbH, Alexander Hoptner, will take over as CEO during January 2021. Hoptner will also join 100x’s board of directors, and will report directly to the group’s chairman, David Wong. 100x’s new CEO stated: “I am proud to join 100x Group because I share the global ambition and audacity of its founders and employees to create an ecosystem of cryptocurrency technology that will improve lives. The future of this industry will increasingly belong to those who provide a regulated trading environment that is innovative, liquid, and fair for

Local media reports indicate electricity producers in Yunnan, China’s fourth-largest province by Bitcoin hash rate, have been ordered not to provide power to crypto mines. Local sources report that authorities from the city of Baoshan in the Chinese province of Yunnan are escalating efforts to crack down on Bitcoin miners, ordering electricity producers to cease supplying power to the city’s miners. On Nov. 30, Chinese crypto reporter Colin Wu tweeted that several miners had informed him of the ban, sharing what appear to be scanned copies of official documents issued to power producers: Several miners told Wu that Baoshan, Yunnan, where China’s crypto mines are located, received a ban on November 30, requiring the power station to stop supplying power to the miners. Yunnan is the third largest mining place in China after Sichuan and Xinjiang. pic.twitter.com/1zAhcTLmXi — Wu Blockchain（Chinese Crypto Reporter） (@WuBlockchain) November 30, 2020 However, Wu added that the ban was

Bitcoin price just set a new all-time high today, and then immediately dropped $500 and is trading below the former peak once again. Murmurs of a “double top” scenario have been making rounds across the speculation-driven crypto community. However, one well-known crypto trader and analyst explains why such a scenario is nearly impossible, due to the requirements involved in confirming the technical chart pattern. Bitcoin Sets New All-Time High, Drops $800 Immediately After Bitcoin price set a new all-time high of $19,863 on Binance and beat the former peak on other spot crypto exchanges like Coinbase and Bitstamp, certifying the historic moment. Within minutes of the achievement, however, the leading cryptocurrency by market cap plunged by $800 and is back holding onto $19,000 as support. The rejection here after a new peak was set, and even before as Bitcoin has previously stopped short of a new high, sparked discussion and wild speculation over a possible “double top” scenario

Key derivatives indicators show pro traders remain strongly bullish even as Bitcoin price continues to reject at $19,800. Most investors that follow Bitcoin will have recently heard about the growing impact Bitcoin (BTC) futures and options markets have on Bitcoin price. The same can be said for the price swings caused by liquidations at OKEx and Huobi exchanges. Considering that derivatives markets are now playing a much bigger role in Bitcoin price fluctuations, it is becoming increasingly necessary to review some of the key metrics professional traders use to gauge activity in the markets. While reviewing futures and options contracts can be quite complicated, the average retail trader can still benefit from knowing how to properly interpret the futures premium, funding rate, options skew and put-call ratio. Futures remium The futures premium measures how expensive longer-term futures contracts are to the current spot at traditional markets. It can be thought of as a relative

XRP has surged 10% higher in the past 24 hours as Bitcoin has begun to consolidate in the mid-$19,000s. The crypto market saw a strong surge higher seemingly as a result of new institutional inflows, which were previously absent as a result of the Thanksgiving holiday weekend. BTC is up around 6% in the past 24 hours, having pushed to $19,500. The coin traded as high as $19,900 on some top exchanges, though there is some mispricing as a result of some discrepancies between futures and spot markets. XRP is expected to move higher in the days ahead if Bitcoin continues its ascent. There are some divided over BTC’s short-term prospects, though, as the coin faces extremely high funding rates on top futures platforms. Related Reading : Here’s Why Ethereum’s DeFi Market May Be Near A Bottom The XRP Outlook Analysts are bullish on XRP as the coin manages to consolidate despite an extremely strong rally last week. XRP has begun to hold a key resistance level on a short-term basis, whi

He believes that investors will eventually send Bitcoin’s price over $500,000. Not one to mince words, Tyler Winklevoss reportedly  told the business network CNBC that “Cash is trash.” In his view, it’s only a matter of time before investors dump the dollar and other fiat currencies for BTC: “At some point, it is hard to look at those data points and say that Bitcoin isn’t an incredible store of value.” His twin brother Cameron Winklevoss also said that Bitcoin ( BTC ) “just needs to be better than gold” to see its value rise to remarkable levels. The twins, who run the United States-based cryptocurrency exchange Gemini, believe BTC will eventually hit $500,000 — mirroring a recent forecast from Catherine Wood, CEO of ARK Investment Management. Crypto enthusiasts believe Bitcoin’s recent run-up is different from previous market cycles because of the influx of institutional investors into the space. Bitcoin’s maturation leap also suggests that the digital currency is carving ou

A likely "stop-loss run" triggers a one-minute candle to more than $3,000 lower than Bitcoin spot price before a rebound, in extreme volatility. Bitcoin ( BTC ) reached a new all-time high on various exchanges on Nov. 30, but one record, in particular, hit the headlines for a different reason. Data from cryptocurrency exchange Kraken shows BTC/USD hit its highest ever price on its order book — then dove to $16,600 in seconds. Kraken BTC price dumps $3,000 The reason for the crash, which will have liquidated a large number of positions and caused considerable pain for many a speculator, was likely what is known as a "stop-loss run." Stop-loss runs involve large-volume traders who intentionally place large sell orders at a specific price point, then target where they think a large number of stop-loss positions reside. In this case, the target was around $16,600, near the location of last week's local bottom. The result is a cascade of selling pressure that

AirBit Club's leadership have been gathered in New York City and will face charges for stealing "membership dues" to finance massive marketing events and lavish personal lifestyles. Per a Monday announcement , the U.S. Department of Justice and the Southern District of New York have extradited a leader of alleged ponzi scheme AirBit Club from Panama.  Gutemberg Dos Santos is one of six operators of AirBit Club indicted, and the last to come into the U.S. to face trial before the SDNY. Dos Santos is a dual citizen of Brazil and the U.S. Authorities initially apprehended five  of the six back in August, with a sixth avoiding authorities until October.  The DoJ alleges that AirBit Club sold "memberships" that promised guaranteed returns. The six operators marketed their returns as being the product of the club's mining operations and trading strategies. Per the DoJ, those operations didn't exist. Instead, membership dues went to funding further marketin

The concept of a DeFi ETF sounds promising, but it’s not without pitfalls. Index investing in the stock market has become extremely popular thanks to the proliferation of exchange-traded funds, or ETFs, which often track popular market indices like the S&P 500 or the Nasdaq-100. Investing in the entire market can be a simple but effective strategy. Instead of spending energy and time in trying to beat it — often unsuccessfully — investors are guaranteed average returns, which in the past 10 years have been more than respectable both in stocks and in crypto. The rise of decentralized finance in the summer of 2020 seems to have reinvigorated the concept of passive investment in crypto. In addition to creating a new well-defined category of crypto assets, it has boosted the infrastructure required to create something analogous to a crypto-native ETF. Several projects and platforms launched their own DeFi indices in 2020. Some, such as the FTX DeFi perpetual contract or Synthetix

Cybercriminals may favor a different cryptocurrency in the coming months, however. Cryptocurrency-related fraud and theft are likely to grow in the post-COVID-19 world, according to a new report by cybersecurity and anti-virus provider, Kaspersky Lab. Securelist, Kaspersky’s cyberthreat research arm, published a report on cyberthreats to financial organizations, forecasting some specific types of financial attacks that are likely to surge in 2021. Securelist has predicted that a wave of poverty fueled by the COVID-19 pandemic will inevitably lead to “more people resorting to crime including cybercrime.” That could also mean a rise in crimes related to Bitcoin ( BTC ). According to Kaspersky’s research arm, Bitcoin is likely to be the most attractive asset for cybercrime because it is the most popular digital asset. The report reads: “We might see certain economies crashing and local currencies plummeting, which would make Bitcoin theft a lot more attractive. We should expect mor

Following what is described as an “epic bear trap” to $16,400, Bitcoin has officially set a fresh all-time high. The benchmark digital asset has never traded as a price this high on the spot market before, with bulls now trying to push it above $20,000. It does appear to be facing some resistance as it navigates into this price region, with bears ardently attempting to fade the movement. Regardless of whether they are successful, the cryptocurrency’s historic move higher this morning will likely market a macro turning point for BTC and the entire crypto market. Once $20,000 is broken above, there’s a strong likelihood that it will enter price discovery mode and see some serious upside. Parabolic advances like the one it is currently caught within often end in an asset’s price multiplying, which could mean that this is just the beginning of a much larger move. One trader is now noting that BTC could be well-poised to see some immense upside in the near-term, with the latest declin

XRP price must break a key resistance level before $1.00 becomes a real possibility. While Bitcoin ( BTC ) is facing a potential new all-time high, other coins are showing strength as well. One of those coins is XRP , which has been going vertical in the previous weeks.  XRP’s price surged from $0.22 to a high of $0.78 during the month of November, which immediately ended up in a massive correction towards $0.45. Let's take a look at the XRP price charts to determine whether this was an entry opportunity before the next leg up. The crucial zone around $0.45 holds as support XRP/USDT 1-day chart. Source: TradingView The daily chart of XRP is showing clear support and resistance zones. Within such a heavy pump, the levels to watch can be derived from the daily timeframe. In this case, the first massive support zone is around the $0.45 barrier. XRP corrected toward this zone as the price of Bitcoin dropped to $16,200 on Thanksgiving day .  The chart shows a clear support b

Nobody seems to be in a rush to digitize the euro, but that could change given increasing global competition. Several experts from various European banks agreed that even a proof of concept for a digital euro is four or five years away. In a panel on Monday called "Upgrading Money to the Digital Age: Introducing Digital Euro," participants agreed that the current task was primarily one of getting everyone onboard with the specifics of a digital euro, putting any real implementation well into the future.  Central bank digital currencies, or CBDCs, have been an extremely popular topic of debate in recent years, but especially since the beginning of the COVID-19 pandemic.  Austėja Šostakaitė of the European Central Bank said that the ECB wouldn't even be making a decision on whether to pursue a digital euro in earnest until the middle of 2021, which contradicts an estimate of January that the ECB's president made earlier this month. For now, Šostakaitė said, the

Akropolis says calling it a merger “is a bit of a misnomer.” Yearn Finance announced on Monday yet another merger with Akropolis, a multi-product DeFi protocol featuring yield optimization and under-collateralized loans. Like the Cream Finance merger announced last week  the two ecosystems will remain largely independent in terms of their tokens and overall product lines, a shared announcement clarifies. However, like with Pickle Finance , Akropolis will now integrate Yearn vault technology and will publish its yield farming strategies on its Vault V2 platform. The two development teams will combine and benefit from each others’ expertise. Akropolis developers will be able to build their strategies using tools from the expanding Yearn ecosystem, including Cream’s lending platform. For the Yearn protocol, Akropolis will offer its business development expertise and institutional contacts, the announcement says. Akropolis will also deprecate AkropolisOS and Sparta, its two other pro

The price of Bitcoin has surpassed $19,300 once again, after dropping to as low as $16,200 on November 26. Following BTC’s surprising intraday rally, analysts say it is preparing for an all-time high. There were convincing arguments for both bearish and bullish short-term projections for BTC. Most notably, when BTC dropped down to $16,200, it broke out of the recent parabola. This meant that BTC was at risk of either a large correction or beginning a new uptrend. So far, based on the strength of BTC’s upward movement, market trends show that it could begin a new parabolic rally. The daily price chart of Bitcoin. Source: BTCUSDT on TradingView.com What Happens When Bitcoin Breaks $19,400? There are two main scenarios for Bitcoin in the near term. First, BTC breaks $19,400, head towards the all-time high, and test the $20,000 level. Second, BTC rejects $19,400 again, it ranges in the near term and consolidates, as it attempts to break out once again But, if Bitcoin surges past $1

Despite 15% gains coming during a weekend, Monday simply delivers more of the same upside for Bitcoin prior to the Wall Street opening. Bitcoin ( BTC ) returned to $19,000 on Nov. 30 as a weekend surge continued to produce fresh gains for investors and hodlers. BTC price up 18% against weekly lows Data from Cointelegraph Markets and TradingView showed BTC/USD retaking another key psychological level during Monday trading. The weekend had already produced major upside for the pair, which late last week dived to $16,300 . By the start of Monday, $18,600 had appeared, with Bitcoin going on to deliver returns of at least 17% versus those lows. As Cointelegraph reported , a giant $1,300 CME futures gap threatens to take the market lower, but buyers so far remain unfazed. At press time, highs above $19,200 were in progress with around half an hour to go before the start of trading on Wall Street. BTC/USD 1-day hourly chart. Source: TradingView "Leveling up. The crucial area

According to a textbook bullish indicator, Yearn Finance’s governance token YFI is preparing to target its all-time high. Dubbed as “Ascending Triangle,” the pattern envisions YFI/USD just shy of $44,000 , a record high achieved mid-September following the pair’s supersonic bull run. It anticipates YFI/USD to hold support near its ascending trendline while testing its horizontal base level as resistance. Later, the pattern expects the pair to attempt a breakout move above the resistance level. Yearn Finance Ascending Triangle pattern (in black). Source: YFIUSD on TradingView.com In retrospect, the Ascending Triangle is a continuation pattern that appears in the middle of a trend. Traders anticipate the market to continue in the direction of its previous trend. Therefore, they develop their trade setups accordingly. YFI is in an uptrend . And it is now forming a rising lower trendline and a flat upper trendline. It indicates that the buyers — at present — are more aggressive than