Why Analysts Think Bitcoin Corrects After Surge to $15,000

Bitcoin has undergone a strong surge since the lows of the week around $13,200. As of this article’s writing, the leading cryptocurrency trades for $15,100, slightly below the $15,300 daily highs but far above the aforementioned weekly lows. The leading cryptocurrency is up around 6% in the past 24 hours as the U.S. dollar continues to tumble lower. The U.S. Dollar as the election has swung in Biden’s way, which many believe will lead to a further devaluation of the currency that if President Trump was re-elected. Despite this underlying…

US Government Now a Bitcoin Whale Thanks to $1 Billion Silk Road Seizure

Key Takeaways The U.S. has seized 69,370 Bitcoin (BTC) and its equivalent in hard forked tokens held in a previously dormant wallet. The wallet address and the held assets were traceable to the infamous Silk Road marketplace. Share this article The United States Department of Justice (DoJ) has seized cryptocurrencies from an anonymous person called Individual X, including 69,370 Bitcoin. The assets are worth over a billion dollars and belonged to this address: 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbh.  This was the network’s fourth-largest Bitcoin address, and up until a few days ago had been…

Ethereum Could Trigger a Massive “Altseason” Once It Taps This Key Level

Ethereum’s price action has been rather lackluster as of late, which has been surprising considering the deployment of the ETH 2.0 deposit contract and Bitcoin’s immense strength. Many analysts pinpoint the weakness seen by Ethereum as the sole reason why altcoins have been bleeding out against both USD and BTC as of late. Until Ethereum can surmount its resistance at $420, there’s a strong possibility that it will continue seeing signs of weakness and struggling to gain ground against Bitcoin. One trader is now noting that ETH is approaching a…

Leading Brazilian soccer team to tokenize FIFA player transfer fees

Vasco da Gama, one of the leading teams in Brazilian football, and Mercado Bitcoin, one of the largest cryptocurrency exchanges in Latin America, have announced plans to tokenize the rights of the solidarity mechanism of FIFA. The FIFA Solidarity Mechanism is a part of the FIFA Transfer Regulation, which acts as a selling right for a player and encourages clubs to develop young players. Through this mechanism, up to 5% of the total value of each international transfer of an athlete can be shared with all the clubs that an…

Coinbase Lists Three New Ethereum Tokens With More on the Way

Coinbase announced support for three new cryptocurrency listings today on its official blog. The company also extended trading for three other cryptocurrencies to New York investors. Coinbase’s Latest Additions Beginning today, the exchange will allow users to trade three tokens: Civic (CVC): A decentralized ID protocol token. Decentraland (MANA): A virtual real estate token. District0x (DNT): A decentralized marketplace token. All three cryptocurrencies are based on Ethereum’s ERC-20 standard, and all three have been supported on Coinbase Pro since 2018. Coinbase’s decision to list these coins on its retail exchange…

Brazilian gov’t gets help from US Justice Department to seize $24M in crypto

According to a Wednesday filing, the U.S. Justice Department seized $24 million in virtual currency pursuant to an official request from the Brazilian government. The Department of Justice, or DoJ, said that the government of Brazil requested its assistance in connection to a crypto fraud scheme called “Operation Egypto.” Authorities in the South American nation reported that more than 10,000 Brazilians may have been defrauded from the scheme, in losses estimated at roughly $200 million. The department seized funds connected to Brazilian national Marcos Antonio Fagundes, one of the individuals…

Yearn.finance (YFI) Sees Disastrous Performance; Here’s What’s to Blame

Yearn.finance’s YFI governance token has seen its first relief rally in ages, with bulls moving to form a bottom following a multi-week period of seeing relentless losses. The cryptocurrency reeled as low as $7,500 earlier today, at which point bulls stepped up and sent it surging up to highs of $10,000. It did face an influx of selling pressure at this price, with buyers unable to flip this historically significant level. If broken above and confirmed as support, $10,000 could eventually act as a strong base for growth that could…

Up 42% in Q4, Bitcoin price outperforms top bank stocks

Historically, traditional market analysts and old school investors tend to look at Bitcoin and other cryptocurrencies with a wary eye, and when crypto pundits attempt to make comparisons between the two these investors say it’s an apples to oranges argument. Take, for example, Warren Buffett, who many a time has said Bitcoin is nothing more than a Ponzi scheme as it does not produce anything and therefore has no value. According to these traditionalists, comparing Bitcoin to Apple, Tesla, or a bank stock like JPMorgan is irrational as the latter…

Chainlink Bounces Off Crucial Support, LINK Aims for $12

Key Takeaways Chainlink is up more than 10% over the past few hours after bouncing off a channel’s lower boundary. Based on historical data, LINK could advance towards $12 or even $14.5. The bullish outlook will prevail as long as the $10.4 support holds. Share this article LINK went through a 64% correction after rising to an all-time high of over $20 in mid-August. Despite the losses, the so-called “Chainlink marines” have been reluctant to sell. And now, multiple technical indexes suggest that they may be rewarded for their strong…

When Crypto’s Most Reliable Sell Signal Fails, The Bitcoin Bull Run Is On

Crypto traders rely on several tools to help predict future Bitcoin price action and trend changes. Few tools have been as reliable over the years as the TD Sequential indicator, created by market timing expert Thomas Demark. The few times this tool has failed on the highest timeframes, Bitcoin has absolutely exploded in the months following. Is this time different and the sell signal its giving will be reliable? Or will this be the last chance to buy Bitcoin below its former all-time high of $20,000? Bitcoin Triggers Rare Sell…