Bitcoin Tech
ByAuthor J.D. SmithPosted on
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Bitcoin Poised for Short-Term Gains Past $51K as MicroStrategy Upsizes Debt Deal

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Bitcoin’s rally could continue in the short term, analysts and traders said, after the largest cryptocurrency by market cap surged on Wednesday to a new all-time-high price above $51,000. 

At press time, bitcoin’s price is above 10-hour and 50-hour moving averages on the hourly chart, a bullish signal for market technicians. 

“On the hourly time frame, bitcoin has a short-term support in the zone between $50,000 and $50,600 and an immediate resistance at $51,600,” Hunain Naseer, senior editor at OKEx Insights, told CoinDesk.

Ki Young Ju, CEO of South Korea-based cryptocurrency data firm CryptoQuant, said the Coinbase premium, which measures the price difference between Coinbase Pro’s BTC/USD pair and Binance’s BTC/USDT pair, has flipped positive, an indication of institutional inflows.

“Bitcoin has upheld positive short-term momentum since breaking out above January’s high,” Katie Stockton, a technical analyst for Fairlead Strategies, said. “There are no signs of short-term upside exhaustion with the psychologically significant $50,000 level having come and gone.”

Bitcoin’s total market capitalization is now approaching $1 trillion. 

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Bitcoin Opinion
ByAuthor J.D. SmithPosted on
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Bitcoin price eyes $63K next as rising BTC dominance puts altcoins at risk

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The current Bitcoin (BTC) price bull run seems almost unstoppable right now as BTC has just notched another new high on Feb. 17.

The psychological barrier of $50,000 finally broke yesterday after multiple tests of this level in the previous week. In addition, banks are revealing their interest in BTC and more public companies are starting to hop on the Bitcoin bandwagon as the first German company revealed its position today.

This rally could now extend to $63,000. Meanwhile, altcoins are feeling some pain in their BTC pairs as a result while Bitcoin dominance is crawling back up. The primary question is whether Bitcoin sustains this run and if altcoins will drop in their BTC pairs.

Bitcoin crushes further after holding critical levels

XBT/USD 4-hour chart. Source: TradingView

Bitcoin’s price has been grinding up in the past few weeks, establishing some…

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Bitcoin Blockchain Investment Policy & Regulation Tech
ByAuthor J.D. SmithPosted on
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What are privacy coins and how do they differ from Bitcoin?

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Cryptocurrencies are typically pseudonymous, but not necessarily private. Bitcoin (BTC) and other assets run on blockchains, with each transaction posted publicly online. During a transaction between two or more parties, assets move to different wallets, each represented by a string of characters. 

With these addresses and transactions visible to all, however, a certain level of trackability exists, especially if a wallet transfers funds to an exchange requiring Know Your Customer verification.

Certain crypto assets, which are often referred to as privacy coins, private coins or anonymous coins, attempt to hide information about transactions, giving users more privacy. Why might someone need privacy if they are not doing anything illegal? It could be preference or a view of privacy as a basic human right could be two reasons. Cash is largely private. Every transaction is not recorded somewhere for all to see with the click of a button.

A number of possible…

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Investment Latest Tech
ByAuthor J.D. SmithPosted on
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Ethereum’s Favorite Lossless Lottery Will Airdrop Its POOL Token Today

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The leader of lossless lotteries on Ethereum, PoolTogether, is airdropping a new token to all its users who have joined it for the ride so far: POOL.

“I’m really excited about the potential for a consumer financial primitive rather than a financial financial primitive,” PoolTogether founder Leighton Cusack told CoinDesk in a phone call. “This is a much more approachable product to people and therefore I think the idea of user ownership becomes much more approachable too.”

Launched in 2019, PoolTogether is a lottery where there is no risk. Users put in assets that are sent to other decentralized finance (DeFi) apps in order to earn yield. Depositors get tickets that correspond to their deposits. One ticket from a given pool earns all the yield on everyone’s deposits. That…

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Bitcoin Blockchain Investment
ByAuthor J.D. SmithPosted on
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Goldman Sachs, JPMorgan, UBS Are Trading an ETP Tied to Polkadot’s Crypto

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Traditional finance is going further down the crypto rabbit hole than you might think.

Goldman Sachs, ICAP, JPMorgan, and UBS have bought the first exchange-traded product (ETP) that offers exposure to Polkadot’s DOT cryptocurrency for clients, according to Bloomberg terminal data reviewed by CoinDesk.

These banks and brokerages purchased small amounts of shares in Switzerland-based 21Shares’ ETP, the data shows. The shares debuted Feb. 4 on the SIX Swiss Exchange at a price of $22-23 and have since climbed to $30.

The purchases suggest institutional investors’ appetite for crypto exposure in the current bull market goes beyond the market bellwether bitcoin, or even its closest rival ether. The DOT token’s market capitalization is currently over $19 billion, making it the fifth-largest crypto, according to CoinGecko data. The brainchild of Ethereum co-founder Gavin…

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Investment Tech
ByAuthor J.D. SmithPosted on
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DOJ Charges 3 North Korean Hackers With Stealing $100M+ From Crypto Firms

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The U.S. Department of Justice (DOJ) has charged three North Korean computer programmers with theft and extortion on various allegations, including stealing over $100 million in cryptocurrencies between 2017 and 2020.

The thefts are part of a broader conspiracy in which the alleged hackers steal over $1.3 billion, the DOJ announced Wednesday. In a related second case, a Canadian-American was charged with participating in a money laundering scheme.

In a statement, Assistant Attorney General John Demers said, “as laid out in today’s indictment, North Korea’s operatives, using keyboards rather than guns, stealing digital wallets of cryptocurrency instead of sacks of cash, are the world’s leading bank robbers.”

Jon Chang Hyok, Kim Il and Park Jin Hyok have been charged with criminal hacking and other crimes, and are allegedly a part of the…

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Bitcoin Tech
ByAuthor J.D. SmithPosted on
2
0

Bitcoin Poised for Short-Term Gains Past $51K as MicroStrategy Upsizes Debt Deal

BY

Bitcoin’s rally could continue in the short term, analysts and traders said, after the largest cryptocurrency by market cap surged on Wednesday to a new all-time-high price above $51,000. 

At press time, bitcoin’s price is above 10-hour and 50-hour moving averages on the hourly chart, a bullish signal for market technicians. 

“On the hourly time frame, bitcoin has a short-term support in the zone between $50,000 and $50,600 and an immediate resistance at $51,600,” Hunain Naseer, senior editor at OKEx Insights, told CoinDesk.

Ki Young Ju, CEO of South Korea-based cryptocurrency data firm CryptoQuant, said the Coinbase premium, which measures the price difference between Coinbase Pro’s BTC/USD pair and Binance’s BTC/USDT pair, has flipped positive, an indication of institutional inflows.

“Bitcoin has upheld positive short-term momentum since breaking out above January’s high,”…

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