Category: Cryptocurrency News

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I've read a few things in github about "sync committees" in Eth 2.0 Altair hard fork. For example: https://github.com/ethereum/annotated-spec/blob/master/altair/beacon-chain.md#sync-committee allow light clients to easily sync up with the header chain with very low computational and data cost. The goal is to make a light client easy and efficient enough that it can be run inside…
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Kim Kardashian has been singled out by the U.K.’s Financial Conduct Authority (FCA) for pumping a crypto token that could put investors at risk. With 250 million Instagram followers, the FCA chairman said that Kardashian’s cryptocurrency promotion “may have been the financial promotion with the single biggest audience reach in history.” Kim Kardashian Promotes Crypto […]

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Bitcoin has broken out of its range for the second time in the past month. The first cryptocurrency by market cap is making its way up from its yearly low, $29,900, after a season trending to the downside. At the time of writing, BTC trades at $52,333 with a 1.4% and 7% profit in the daily and weekly charts, respectively. Bitcoin smashed the major resistance at $52,000, as news about El Salvador buying its first BTC came out of that country’s presidential office. The bulls are back in control, it would seem, and Bitcoin could potentially rise to its next resistance level at around $56,000, for the first time since May. If it does break that resistance, the bulls could attempt a move into the $60,000 area. This could put BTC’s price in the “path of least resistance”, as Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone said. The price target for that path is $100,000 by the end of 2021 for the first cryptocurrency by market cap, and $5,000 for the second, Ethereum. McGlone noted: After enduring a gut-wrenching correction, we see the crypto market more likely to resume its upward trajectory than drop below the 2Q lows. What could stop Bitcoin and Ethereum from achieving record highs in 2H may be the more elusive question. Increasing demand and adoption are facing diminishing supply. A report by Glassnode support the bullish thesis for the short term. The firm records a recovery in the mining sector after these operators were forced to move from China and relocate to other regions. The recent appreciation in the crypto market has allowed BTC miners to secure profits, the report claims. Thus, the Miner Net Position Change “has returned to a neutral area”. Institutions Back On Bitcoin, Indicators Suggest More Profits This Glassnode indicator has been used to measure the correlation between the number of coins accumulated or sold by miners and the price of Bitcoin. Therefore, the selling pressure that drove down BTC’s price during May and June seems to be out of the picture. In addition, Glassnode records a permanent rise in the transaction size made by BTC users. This has created a contrast from the current market cycle to the previous one and suggests institutions have stayed on the network despite the 50% decline in the price of Bitcoin during May. As seen below, the transaction size has experienced an important increase reaching a peak during that month. Glassnode added: This has largely cooled off from July onwards, with the current average transaction size between $30k and $36k. Relative to the 2019-20 period, this represents a significant 370% increase, despite the recent correction, reflecting continued and sticky institutional sized interest. In addition, Glassnode claimed that investors have high levels of conviction to hold their Bitcoin, as suggested by the Spent Volume Age Band, a metric used to classify the proportion of daily coin volume by coin-age. In other words, the number of BTC being sold on the market and how long have investors have held on to those coins. At moment, the BTC traded is part of the “younger coins”, while “old coins remain dormant”. Bitcoin could once again be impacted by a domino effect caused by the derivatives sector. As the price tries to reclaim previous highs, speculators and short-term investors turn to futures contracts to amplify their gains. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course This is causing the funding rates for this product to rise. The research firm records a 0.03% for this metric across exchange platforms, levels “seen prior to the May sell-off”. So, investors remain cautious and keep an eye on the Bitcoin futures. Glassnode added: The combination of positive funding rates and high open interest can be an important indicator set for assessing a shorter term risk of cascading long liquidations.

before i get the fud comments or whatever negative intent, I just want to say that this is a neutral statement. i'm still holdiing. but I know things can rocket or crater at the flip of a switch. just looking for some "I feel you bro" from the troops. whatever happens, I believe in the…
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Bitcoin price recently broke past $50,000 as the entire crypto market experienced a surge. Investor sentiment has been greatly skewed into the positive with this break of the $50K resistance point, increasing the buy pressures all around the market. There are various tools used to measure how investors are currently feeling towards a particular asset. In this case, the Fear & Greed Index helps to measure the general sentiments around the top coins in the crypto market. The week has started on a high note with the Fear & Greed Index index at a score of 79 today. Putting sentiments around top coins like bitcoin in the region of extremely positive. Fear & Greed Index goes into extreme greed | Source: Fear & Greed Index from alternative.me Market Turns To Extreme Greed The market has spent the last week in greed according to the Fear & Greed Index. Now, following bitcoin going to $52K, the pin has now moved straight into “Extreme Greed.” This is a result of investors, both old and new, clamoring to get their hands on as much bitcoin as possible. At this point in time, accumulation looks to be the name of the game. Related Reading | These Three Lagging Altcoins Are Poised For A Breakout, Says Crypto Strategist The Fear & Greed Index jumped six points in the span of 24 hours to land at 79 on the index, which put it directly in the “Extreme Greed” territory. Measuring emotions and sentiments in the market have shown that investors have gotten into the phase where they want to get their hands on the top cryptocurrencies in the market. For Bitcoin, this means that the asset is nowhere near being done with its current rally. Testing above $52K earlier, the digital asset had been thrown back downwards as the price mounted a resistance at this point. But this dip would not last long as bitcoin promptly found its footing above $51K again. With investors buying back into cryptos, the price of bitcoin looks set to mount another rally from its current point. BTC expected to hit $100,000 by year-end | Source: BTCUSD on TradingView.com Market analysts have put the price of the digital asset at $100,000 by the end of the year. While this may seem ambitious, accumulation patterns continue to point towards this being the most likely endpoint for the asset. September has historically been one for the bears, so the dips at this point are understandable. With the market picking up momentum after each dip, a price surge towards $60K looks imminent. Good News Around Bitcoin Tomorrow will see the first country in the world to accept bitcoin as legal tender. The country of El Salvador had announced earlier in the year that it was accepting BTC as a legal tender alongside the dollar. The set date for this law to go into effect was put at September 7th, which has sparked a lot of interest in the digital asset. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course With the adoption less than 24 hours away, the market has responded quite positively to this news. Today, the price of bitcoin broke $52K for the first time since May, marking the continuation of the current bull market. And as El Salvadorans get ready to use BTC as a legal means of exchange, the world watches in anticipation of how the implementation will go. Featured image from CryptoPotato, chart from TradingView.com

I did some brief research on r/CryptoCurrency and found that only about 4% of posts on here are actually worth paying attention to if you are actually looking for information that will help you. I looked at the past 100 top posts for the month, sorted through news articles about celebrities opinions, reddit users "hodl"…
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