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The price of Bitcoin is at a crucial point, while crypto traders are split over the short-term future of BTC

 

The Bitcoin price (BTC) has been stuck in the $9,300 to $9,500 range for seven days with low volatility. Traders expect that the major crypt-currency will see a large price movement in the short term. However, major traders are divided on whether Bitcoin Future will see a resumption of the downward trend by checking the $7,000 mark in the coming weeks or whether it will finally break the $10,500 mark.

Due to the uncertainty in the market since mid-May, various data and technical analysis present sufficient arguments for both bullish and bearish scenarios. For example, cryptomoney trader Satoshi Flipper said that in a highly indeterminate price range like this, balanced trading should remain neutral and prepare for either scenario:

„Everyone seems to be confident about the next direction of BTC. Many think we are aiming for a high 9.8k range, others are convinced we are going down. Some think about consolidation, others about distribution. Only one thing is certain: no one knows in which direction. I prepared for both.

Many traders seem to be taking a similar approach, especially in the futures market, by remaining net neutral with hedge positions. This shows that Bitcoin is at a crucial point, and investors are preparing for a spike in volatility after nearly 45 days of low-volatility trading.

The Bitcoin bullish scenario

The main short-term bullish scenario for Bitcoin is a break above $10,500, as has been the case since May. BTC risks seeing a triple peak, with two previous peaks in October 2019 and February ending at $10,500.

The case for the triple peak is invalidated if Bitcoin remains above the key support levels of $9,400 and $9,000. Therefore, whether or not Bitcoin remains in the $9,300 to $9,500 range over the next few weeks may decide the medium-term price trend for BTC. Michael van de Poppe, a full-time trader at the Amsterdam Stock Exchange and a contributor to Cointelegraph, explained:

„The crucial level was maintained and we are back in a narrow range. As long as the $9,200-9,250 remains, I suspect it will continue. Next job; to break through and pass the $9,550-9,600. If we do, the road to peak prices can begin. Acceleration above $10,250-10,500 to $11,500.

But Bitcoin has struggled to break above $9,550 after four attempts in the last six days. Declining spot market volume along with decreased volatility remain the biggest obstacles to a proper breakout. A Bitcoin trader known as Ethereum Jack said they have been waiting for Bitcoin to recover since early June. He explained that the absence of a rally increases the likelihood that a large price movement is imminent:

„Looking closely at the market today. A few weeks ago I believed that the market would recover and if so, in the next few days there would be a cap on BTC. In the absence of a rally, I do not rule out the idea that it is a continuation pivot and either way the market seems poised for a move.“

Bullish traders are leaning towards last week’s range as a „continuation pivot“. The term is often used to describe a phase before a prolonged rally occurs. If the stability of the Bitcoin market is a continuation pivot, then BTC could see a recovery above $10,500 to higher resistance levels such as $11,500. A key factor amplifying Bitcoin’s upward argument in Q3 2020 is its most recent difficulty adjustment.

Bitcoin investors are up even when the price of Bitcoin is below $10,000

On June 17, Cointelegraph reported that Bitcoin’s mining difficulty increased by 14.95% – the largest margin since January 2018 and the first increase in more than two years. When the difficulty of mining Bitcoin increases substantially in a short period of time, it can shake up over-leveraged miners. It makes it more expensive to mine BTC overnight, typically causing a drop in the hash rate and an increase

Bitcoin-Zahlungen, Krypto

Cambio en la trama: El famoso podcaster que perdió 12 BTC por error desapareció de Twitter

El anfitrión del Podcast de Protocolo, Eric Savics, se convirtió en una sensación de Twitter de la noche a la mañana al publicar un video explicando cómo perdió sus 12 BTC. Supuestamente, estos eran sus ahorros con los que esperaba poder comprar un apartamento y ha estado guardando el dinero durante los últimos siete años.

Ahora, sin embargo, su cuenta de Twitter no existe.

Cómo Eric Savics perdió sus Bitcoins

El 10 de junio de este año, el anfitrión del Podcast de Protocolo, Eric Savics, dijo que perdió todos sus Bitcoin Code en un trágico error.

Como CryptoPotato informó, explicó que ha utilizado por error un falso plugin de Google Chrome en el que introduce su frase mnemotécnica sólo para descubrir más tarde lo que hizo. En ese momento, era demasiado tarde ya que su 12 BTC, que ha estado ahorrando durante siete años, se había ido.

En uno de los hilos que hizo, dejó su dirección BTC, pidiendo a los autores que devolvieran al menos parte del dinero. Lo que pasó, sin embargo, fue algo que puede o no haber esperado.
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Solidaridad de Crypto: Perdió 12 BTC en un error de clic de ratón, y obtuvo 6500 dólares en donaciones de la comunidad.

La comunidad donó un poco más de 1 BTC a su cuenta. Varias transacciones vinieron de varias personas, mostrando la generosidad de los involucrados con Bitcoin.

Pero así como había mucha gente que era compasiva y solidaria, también había muchos que no compraban la historia de Savics, afirmando que era un estafador.

Uncategorized

A digital euro has just been successfully tested at the Bank of France

 

According to a May 20 announcement by the Bank of France, France has become the first country to successfully test a digital euro, operational in a blockchain, after a call for new technologies to support such a development at the end of March.

The bank says it tested a sale of securities for the central bank’s digital currency (CBDC) on May 14, signaling the beginning of more robust testing.

Blockchain advances push banks toward digital currencies, Bank of Korea says

A wholesale rather than retail CBDC
Although the bank’s announcement did not go into detail, it did indicate that the current pilot programme focuses on wholesale rather than retail uses for a digital euro. Retail came down hard, unveiled earlier this year, a complex area for, business was great, filed in january, checkpoint on the network, used bitcoin to fund activities, rattled hyperledger participants, alternative trading system, doesn’t believe the decentralized web would operate open to regular consumers in the form of Bitcoin or Apple Pay.

The main barrier for CBDCs is their philosophy, not the technology, according to the European Central Bank representative
A wholesale CDB would be in the realm of banks and institutional players, as the French central bank says, „inter-bank regulations“.

This recent pilot of a securities issue in exchange for one digital euro was based on the software received after the bank’s call for applications on 27th March. According to today’s announcement the bank will spend the next few weeks running similar tests on other files received as part of the same initiative.

Consensus 2020 starts with a formal ECB debate on CBDCs

France and the drive for a digital euro
The Bank of France is known to be particularly active in the development of a digital euro. Pending the departure of the United Kingdom, France will become the second largest economy in the euro area after Germany.