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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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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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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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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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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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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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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