Why an Analyst Isn’t Convinced Bitcoin Established a Top at $10,500

Many traders have argued over recent weeks that Bitcoin’s recent price action resembles a textbook top. As NewsBTC has covered extensively, there are a number of signs to corroborate this sentiment: Yet a trader has argued that Bitcoin topping at current prices doesn’t make any sense to him. Here’s why. Related Reading: Nearly Half of Crypto Twitter Doesn’t Think Bitcoin Will Hit $50k in 2021 Did Bitcoin Really Establish a Top at $10,500? A cryptocurrency market technician shared the image below on July 5th, showing that if Bitcoin tops here,…

Enterprise Friendly Blockchain Tapping Into Wine Supply Chain Business

Tampering, theft and counterfeiting have caused the wine industry millions of dollars in lost revenue. Symbol, an enterprise-friendly blockchain project from the NEM ecosystem is now providing blockchain technology amid further frauds in wine productions, according to a blog post published by NEM on July 4.   Symbol reportedly developed a blockchain solution that can trace and verify a large number of transactions per second. This can help wine growers and producers keep track of what’s happening with their raw materials and products at every stage of production and distribution.  Data…

The Options Market Expects Bitcoin’s Consolidation to Persist; Why They’re Wrong

Bitcoin has been caught in the throes of an unrelenting bout of consolidation throughout the past several days and weeks, struggling to garner any clear trend. Although it has technically been ranging since the start of May, its trading channel has been narrowing over the past month, with it now trading between $9,000 and $9,300. It does appear that the cryptocurrency is growing weak, however, as it has flashed some bear-favoring signs over the past few days. Currently, BTC is at risk of breaking below the lower boundary of this…

Bitcoin Just Plunged Under $9,000: Here’s What Analysts Are Saying

Bitcoin has collapsed under $9,000 for the umpteenth time in the past few weeks. Minutes ago, the leading cryptocurrency slipped under $9,000 for the second time in the past week. As of the time of this article’s writing, BTC trades for $8,960, having bounced $50 or so from the daily lows. Bitcoin price chart from TradingView.com Bitcoin slipping under $9,000 comes ahead of the weekly candle close and a few days after the monthly candle close. Considering the timing of this drop, it may suggest that investors expect the S&P…

Hodler’s Digest, June 29–July 5

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bored with Bitcoin? This price level is key for a big breakout It has been a sleepy week in the crypto markets — and there’s barely been any movement in Bitcoin. At the time of writing, BTC is down 0.75% compared with where it was…

3 Reasons Why Bloomberg Calling Bitcoin a ‘Resting Bull’ Is Inaccurate

Bloomberg senior commodities strategist Mike McGlone recently released a midyear crypto outlook, which states that Bitcoin volatility should continue to decrease as the asset behaves more like gold. The report also says that primary demand and adoption indicators remain positive. The report concludes that Bitcoin is set for a breakout with a target at the $13,000 resistance. Although this perspective is defensible, the arguments presented in the article seem flawed. Correlation metrics for the past six months have drawn Bitcoin away from gold’s hedge status, as it has been trading…

Bitcoin Surged 150% After This Signal Last Appeared. It’s Almost Back Again

It’s been a slow past few weeks for the Bitcoin market. After hitting $10,500 at the start of June, the cryptocurrency has entered a short-term downtrend. While some say that this price action is a precursor to a steep correction, a key trend indicator is about to print a bullish sign. This is important as this indicator has been rather accurate in predicting rallies and corrections over recent months. Related Reading: Here Are 2 Ways to Benefit From the Impending Bitcoin Volatility Spike Bitcoin’s Stochastic RSI Is About to Print…

Smart Vending Machine Maker Popcom Crowdfunds $1.3M

Smart vending start-up Popcom raised millions to bring more of their vending machines as the demand for more contact-less retail solutions rises. Popcom, led by Dawn Dickson and one of the few Black women-owned blockchain companies, crowdfunded $1.3 million in its latest funding round, according to Black Enterprise. So far, the company has raised a total of $2.3 million with the majority of investments done through Regulated CF security token offerings. The company aims to grow its operations, build its team and add more of its vending machines. Popcom provides…

What’s Fueling DeFi Token Compound’s Powerful 20% Intraday Rally

One of the crypto market’s hottest DeFi tokens, Compound (COMP) has gone on an over 20% intraday rally. Meanwhile, the rest of the market is seeing red due to overall Bitcoin weakness. What’s causing Compound to stand out and surge while the rest of the crypto market tanks? Compound Becomes Breakout Superstar in Already Red Hot DeFi Space The cryptocurrency known as Compound has had an incredible ride over the last month. Decentralized finance along with crypto Twitter hashtag emoji, are all the rage right now. The former of the…

Brock Pierce Jumps Into 2020 Presidential Elections Last Minute

Brock Pierce, entrepreneur, crypto venture capitalist and child star, has announced his USA Presidential run on Twitter July 5. His tweet stated that: “I, Brock Pierce, am running for President of the United States of America.” Pierce’s campaign site states that he is a pioneer digital currency and has raised more than $5 billion for the companies he has founded. Pierce is the Chairman of the Bitcoin Foundation and co-founder of EOS Alliance, Block.one, Blockchain Capital, Tether, and Mastercoin (first ICO). His website, sparse on details, does not say if…