These 4 Trends Show That Bitcoin’s Likely to Move Higher After 20% Drop

Bitcoin is technically in no man’s land a number of analysts have said after the crypto’s recent drop. The cryptocurrency, in fact, is below the $11,000 resistance, where BTC was rejected last week. Bitcoin is also above the support of the low-$10,000s, where a number of bounces have taken place over recent weeks. Four key market data points suggest that BTC will soon resume its ascent, though. There are also on-chain trends observed by a number of analysts that suggest Bitcoin’s prevailing trend is a bullish one. The 4 Reasons…

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Here’s the Crucial Level Bitcoin Needs to Close Above to Kick Off Its Uptrend

Bitcoin’s price action has not been encouraging for bulls as of late Following a short-lived bout of trading above $11,000, the cryptocurrency ultimately faced a harsh rejection at $11,200 The decline from these highs has been intense, leading the cryptocurrency to slide down to lows of $10,400 that were revisited this morning BTC now appears to be caught within a trading range with a lower boundary at $10,400 and an upper boundary around $10,600 Traders are now noting that where the market trends next may depend entirely on whether Bitcoin…

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Analyst: Ethereum May Grind to $280 Before ETH 2.0 Hype Propels It Higher

Ethereum and other altcoins have been struggling to garner any strong momentum following the massive declines posted earlier this week This weakness came about as a result of Bitcoin’s rejection at $11,200, which is a level analysts have been watching Until BTC’s macro outlook begins growing more positive, Ethereum will likely continue struggling as well That being said, some positive technical developments in the coming months could help boost its outlook One analyst is noting that he expects ETH to drag down towards $280 before it finds any significant support…

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Bitcoin’s realized cap is now $43 billion above the 2017 all-time high

Bitcoin’s realized capitalization has soared above its 2017 record high, but Ethereum’s has struggled to reclaim its former highs Crypto market data aggregator Glassnode has published data indicating that Bitcoin’s (BTC) realized capitalization has increased by more than 50% since tagging its all-time high of $20,000 at the end of 2017. The realized capitalization metric measures the value of each BTC when it was last moved on-chain, which enables analysts to estimate the aggregate cost-basis of market participants. However, coins on centralized exchanges are absent from the metric, indicating the…

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Bitcoin bull Tim Draper reveals the secrets of his altcoin portfolio

Tech billionaire, Tim Draper, has revealed he owns a myriad of altcoins in addition to his 30,000 BTC. Tim Draper, the prominent venture capitalist and tech billionaire who purchased nearly 30,000 Bitcoins (BTC) that were seized from the Silk Road, has revealed his digital currency holdings span at least half a dozen different crypto assets.   Speaking at a recent investment conference, Draper revealed that his holdings include Bitcoin Cash (BCH), Ripple (XRP), Tezos (XTZ), and Aragon (ANT), adding: “I’m a believer. I think it’s happening – [adoption] it’s coming. It’s…

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DeFi projects rush towards Layer 2 as Ethereum clogs up

Leading DeFi protocols are rushing to implement Layer 2 to ease the burden of high gas fees. Decentralized finance (DeFi) protocols are racing to implement Layer 2 scaling solutions as Ethereum gas fees skyrocket and the network struggles under the demand. Popular DeFi platforms including Uniswap, Aave, and Synthetix are gettin closer to rolling out the scaling solutions. Synthetix, an on-chain synthetic assets protocol that tracks the value of real-world assets, is upgrading September 24 to a primitive version of L2 scaling. According to a blog post by founder Kain…

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BCH Hash Watch: Majority of Miners Signal BCHN, Coinex Exchange Announces Futures

Bitcoin Cash proponents have recently noticed that the last 612 blocks or more than 61% of the last 1,000 blocks have been mined using BCHN, according to Coin Dance statistics. Moreover, data also shows that 82% of Bitcoin Cash hashpower is signaling BCHN, as the prominent miners Btc.com and Antpool have started signaling. BCH fans are patiently waiting as there’s 53 days left until the November 15th Bitcoin Cash upgrade. News.Bitcoin.com reported on September 1, on how there’s a high chance the BCH blockchain will bifurcate into two networks. At…

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Bears reign as 86% of September’s $284M CME Bitcoin options are worthless

Bears lurk as Bitcoin price is down and $284M in CME BTC options are set to expire on Friday. As of now, the $622 million total open interest for BTC futures expiry on Friday seems quite relevant.  This Friday, a total of $100 million in CME Bitcoin (BTC) options are set to expire. 58% of these are call (buy) options, meaning buyers can acquire BTC futures at a fixed price. As the expiry draws near, call options 10% or higher above the current BTC price are deemed worthless. Therefore, there’s…

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Revealing crypto exchange’s physical location was not harmful, court rules

A former employee’s actions did not cause ‘damage or loss, in any amount’ to the exchange. A federal judge has ruled that an employee who revealed the location of a major crypto exchange did not violate its trade secrets. According to court records filed Sept. 22, U.S. District Judge Maxine M. Chesney has dismissed a lawsuit filed by Payward Inc. — the owner of Kraken — against former employee Nathan Peter Runyon for misappropriating “trade secrets” by publicly disclosing the exchange’s physical address in San Francisco and accessing one of…

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12 Peers Capital Markets Purchases DigitalBits XDB Token

12 Peers Capital Markets , a broker-dealer and capital markets firm has announced its support for DigitalBits, a blockchain protocol focused on consumer digital assets such as loyalty points, rewards, and branded stablecoins.  The traditional market brokerage firm has purchased the DigitalBits XDB token, after recently announcing “a new found investment thesis focused on identifying blockchain projects that improve efficiencies across global markets,” it said in today’s announcement. DigitalBits is an enterprise-grade blockchain protocol for supporting consumer digital assets, specifically branded currencies.  The company believes that branded currencies play an…

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