Analyst Who Called March’s V-Shaped Reversal Says Bitcoin Dip Is Inevitable

Bitcoin has undergone a strong rally over the past few days as the coin has continued to see vast buying interest. The coin pushed as high as $18,500 last evening, though quickly dipped back into the $17,000 region as selling pressure suddenly appeared. There was a vast amount of selling pressure on the order books of top exchanges at $18,500. Analysts believe that a deeper drop for Bitcoin is on the horizon, even as it manages to hold the low $17,000s. Bitcoin should hold $17,100 on a daily basis to…

Analyst Targets Yearn.finance (YFI) Move to $27,000 as Bulls Take Charge

It has been a wild past few days and weeks for the Yearn.finance governance token. YFI bulls attempted to spark a strong uptrend earlier this week when they surmounted the $18,000 level, as this has long been a macro resistance level for the cryptocurrency. The break above this level was technically significant, which seems to be confirmed by the subsequent rally that sent the crypto surging up towards the mid-$20,000 region. Despite the intense selloff seen yesterday by both Ethereum and Bitcoin, YFI has remained strong and is entering what…

Bitcoin Buying Pressure at Record Highs as Billionaires Search for Dollar Hedge

Key Takeaways A massive influx of institutional capital into the cryptocurrency industry seems to be pushing Bitcoin’s price up. Given the lack of resistance ahead, it is likely that BTC will revisit previous all-time highs. Nonetheless, historical price data shows that the flagship cryptocurrency may soon suffer a steep correction. Share this article Bitcoin appears to have entered a new parabolic advancement. Its price has risen more than 80% since late September without any significant pullbacks. However, a particular technical indicator estimates that steep correction is underway. Strong Fundamentals Behind…

HODL your horses, Bitcoin options data says $18.5K is not a local top

Earlier today, Bitcoin (BTC) price peaked at $18,476 after an impressive 35% bull run that appears to have started in early September.  This powerful movement was followed by a correction to $17,000, a natural pullback. This adjustment led some investors to question whether the current formation resembles the $13,850 top formed in July 2019. BTC/USD, July 2019. Source: TradingView Back then, a 30% drop followed a similar-sized rally, and afterwards it took Bitcoin 14 months to regain the $13,850 level. Coincidently, an intense flash crash happened right after that local…

Binance hires Trump lawyer who helped put Gawker Media out of business

In a lawsuit filed today in the U.S. District Court of New Jersey, Binance alleged that an article published by Forbes was defamatory and caused “millions of dollars” in damages. While there are already questions forming around the merits of the lawsuit, one thing is no longer in doubt: Binance is getting serious. Binance has retained the services of Charles Harder, the attorney best known for representing Hulk Hogan (Terry Gene Bollea) in a suit against Gawker Media. He procured an award of $115 million in compensatory damages and a…

World’s dominant crypto futures market could face regulatory shake-up

Proposed regulations targeting Hong Kong’s blockchain industry could have far-reaching consequences for the crypto derivatives market, according to new research from Messari.io.  In a report published on Wednesday, researcher Mira Christanto said the Special Administrative Region of Hong Kong, which happens to be the dominant market for crypto futures trading, could be clamping down on unregulated exchanges as part of a broader push for more governance. The researcher cited a recent proposal from the Hong Kong Securities and Futures Commission, or SFC, that would require all crypto businesses to fall…

Deloitte includes BitPay on top 500 tech companies list

As cryptocurrencies continue gaining mainstream attention, some of the industry’s native companies have also joined the spotlight. Bitcoin payment processing company BitPay joined the ranks of 499 other important technology companies today. Big Four accounting firm Deloitte sees BitPay as one of North America’s top 500 leading-edge technology outfits, as shown by its Technology Fast 500 list, BitPay announced in a public statement on Wednesday. BitPay sits in 341st position, beating social media powerhouse Pinterest, which holds the 348th spot. “The ranking is compiled based on submitted applications and public company…

Binance Sues Forbes and Two Journalists Citing “Millions of Dollars” in Damages

Key Takeaways Binance has filed a suit in the state of New Jersey against Forbes, Michael del Castillo, and Jason Brett. Forbes alleged that Binance had hatched an “elaborate scheme” to evade Bitcoin regulators in the U.S. Binance cites Forbes’ allegations that it sought to “undermine the ability of anti-money laundering” enforcement in the lawsuit. Share this article On Oct. 19, Forbes published an article accusing Binance of establishing a legal entity to “surreptitiously profit from crypto investors in the United States.” The article claimed that Binance had “funneled” money…

Here’s Why Bitcoin Won’t Ever See Another March-Style Selloff Event

Bitcoin has come a long way from where it was just under one year ago, with the March 12th selloff sending the cryptocurrency to lows of $3,800 – from which point it has seen exponential upside growth. One analyst is now noting that BTC’s days seeing sharp selloff events like this one are over, with its underlying market structure maturing at a rapid pace throughout the past several months. The recent exodus away from BitMEX may be contributing to its stability, as the market is now being primarily driven by spot…

SEC leader touts record on digital assets on his way out the door

Bill Hinman, outgoing director of the Division of Corporation Finance at the U.S. Securities and Exchange Commission chose to focus one of his last speeches on the commission’s achievements in regulating crypto during his tenure. In remarks published on the Securities and Exchange Commission, or SEC, website on Nov. 18, Hinman cited the SEC’s record as being open to technologies like cryptocurrencies and blockchain without the need for overhauling the existing regulatory framework. “Being able to apply the federal securities laws to new and emerging technologies like digital assets without…