Monthly Archives: November 2020

Bull flag breakout will decide whether Bitcoin price goes to $16K or $14K

Bitcoin’s bull flag will determine whether bears push the price to $14K or if bulls finally take the $16K mark. Bitcoin price (BTC) appears to be taking a short breather after reaching a new 2020 high at $15,960 on Nov. 5. The 1-hour and 4-hour timeframe show the price compressing within a flag and throughout the majority of the trading day, the $15,500 level has held as support. $15,750 is the level Bitcoin needs to break in order to pursue another stab at $16,000.  BTC/USDT 4-hr chart. […]

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Netherlands registers first consumer-facing crypto platform since AMLD5

Everyday investors in the Netherlands can now invest in crypto, thanks to company’s new registration. Crypto exchange BLOX received the go-ahead to operate in the Netherlands, making it the first platform to do so since the country implemented the European Union’s 5th Anti-Money Laundering Directive, or AMLD5. “BLOX is the first consumer-focused cryptocurrency company that will be included in the registry of the Dutch Central Bank,” the company said in a blog announcement today. “This registration is mandatory in the Netherlands for every company that allows its […]

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OKEx denies rumblings of founder’s criminal detainment, withdrawals still closed

After weeks of little information, digital asset withdrawals remain closed on crypto exchange OKEx while the entity denies rumors of arrest of leader. After closing digital asset withdrawals in mid-October, Malta-based crypto exchange OKEx still remains tight-lipped about an unspecified on-going investigation. OKEx claims detainment chatter as simply rumors, although customers are still left without withdrawal access on the exchange, even after three weeks, hearing no palatable details around the scene.  “Claims that a concerned party related to OKEx is under criminal detention have been refuted — […]

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Only 4% of Norway uses cash as country evaluates CBDC, Norges Bank exec says

Cash usage has declined in Norway since COVID-19, but physical currency also carries strengths that CBDCs may lack. Speaking at an event on Thursday, Ida Wolden Bache, deputy governor at Norway’s central bank, described a decline in cash payments while elaborating on Central Bank Digital Currencies, or CBDCs.  “Only 4% of payments are now made using cash,” Bache said in her speech during Finance Norway’s Payments conference. “This share is approximately the same as in spring, and considerably lower than before the pandemic,” she added. “To our knowledge, […]

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Following One Decade Of Growth, DeFi Could Guide Bitcoin’s Next

Since 2009, Bitcoin has come a long way while proving its worth, improving its regulatory standing and raising interest globally through media and the internet. From having zero relative value to fiat as a currency in its early days to being valued at $19,783.06 in December 2017, bitcoin has shown immense power. Today, nearly everybody, whether or not they know about blockchain technology, has at least heard of Bitcoin.  Below is a timeline meant to express how far Bitcoin has come in such a relatively short amount […]

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Law Decoded: New administration and the DoJ’s continued flex in crypto, Oct. 30–Nov. 6

With the election taking all the air out of the room, we look at what new appointments at the DoJ could mean. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law.  Editor’s note Are you over the election? I’m over the election. But you can bet that as soon as I finish writing this week’s Law Decoded, I will compulsively check up on what’s happening in Georgia and Pennsylvania. And it seems that I’m not alone. Despite […]

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Price analysis 11/6: BTC, ETH, XRP, BCH, LINK, BNB, LTC, DOT, ADA, BSV

Bitcoin price looks slightly overextended in the short-term and may take a break while altcoins play catch-up. The United States Federal Reserve Chair Jerome Powell recently said that additional fiscal stimulus could result in a stronger recovery. He also emphasized that the Fed had enough tools to support the economy. After the winner of the U.S. election is announced, the focus of lawmakers could shift to the next stimulus package. However, additional money printing will only worsen the existing national debt which is currently at $27.2 trillion. […]

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Video: Open Timestamps: Leveraging Bitcoin’s Security For All Data

Listen To This Episode: Apple Spotify Google Libsyn Overcast In this episode of The Van Wirdum Sjorsnado, Aaron and Sjors discuss Open Timestamps, a Bitcoin-based time stamping project from applied cryptography consultant and former Bitcoin Core contributor Peter Todd. Open Timestamps leverages the security of the Bitcoin blockchain to timestamp any type of data, allowing for irrefutable proof that that data existed at a particular point in time. Aaron and Sjors explain that virtually any amount of data can, in fact, be timestamped in the Bitcoin blockchain […]

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Interview: Is the stock-to-flow model flawed?

According to crypto analytic firm ByteTree, the popular stock-to-flow model is not a reliable indicator for Bitcoin’s long term price action. The stock-to-flow model is flawed, says Charlie Morris, co-founder and CIO of crypto data firm ByteTree.  According to the popular theory developed by quantitative analyst Plan B, Bitcoin’s capped supply is the key feature that will bring its price over $100K in 2021, and beyond. However, as explained by Morris in a recent report, a progressive squeeze of new supply won’t be enough to cause Bitcoin’s […]

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Government Seizes 69,730 Bitcoin ($1 Billion) Tied To Silk Road

On November 5, 2020, federal prosecutors filed a civil complaint describing the seizure of 69,370 bitcoin (worth about $1.06 billion at the time of this writing) from an individual who was able to steal the funds from darknet marketplace Silk Road. According to the complaint, the funds were stolen from Silk Road across 54 previously undetected bitcoin transactions in 2012 and 2013. As Ars Technica reported, earlier this year, federal authorities commissioned the blockchain analysis firm Chainalysis to investigate these transactions. It found that the stolen BTC […]

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