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Cryptocurrency News Roundup for August 18, 2020

Source Node: https://beincrypto.com/cryptocurrency-news-roundup-for-august-18-2020/
Time Stamp: August 18, 2020 4:45 PM - Modified On: May 21, 2021 - Published By:
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Since the start of 2020, the net worth of assets locked in DeFi smart contracts have increased nearly 10x from $680 million to more than $6 billion. BeInCrypto covered it in-depth here, in case you missed it earlier. To bank in on that phenomenal growth and encourage greater cooperation among industry stakeholders, Huobi DeFi Lab has launched a new initiative called the Global DeFi Alliance. Several major players in the DeFi space have already joined the initiative to create a united front and pave the way for mainstream adoption in

Binance Coin (BNB) Struggles to Sustain Higher Prices After Breakout

Source Node: https://beincrypto.com/binance-coin-bnb-struggles-to-sustain-higher-prices-after-breakout/
Time Stamp: August 18, 2020 11:25 AM - Modified On: May 21, 2021 - Published By:
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Binance Coin (BNB) has broken out from an important resistance level and validated it as support afterward. Some technical indicators, however, suggest that a bearish reversal could transpire soon. BNB Makes a Double-Top The BNB price has been gradually increasing since March 13. The rally stalled near the end of July when the price reached the $21.50 area and was rejected. On Aug × BeInCrypto Premium - Register for FREE now. Want to know more? Join our Telegram Group and get trading signals, a free trading course and daily communication

Bitcoin Bull Market ‘Confirmed’ Says PlanB as RSI Repeats 2016 Halving

Source Node: https://cointelegraph.com/news/bitcoin-bull-market-confirmed-says-planb-as-rsi-repeats-2016-halving
Time Stamp: August 18, 2020 10:24 AM - Modified On: May 21, 2021 - Published By:
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The creator of arguably the most famous Bitcoin (BTC) price forecasting tool has declared that the largest cryptocurrency is in a bull market.In a tweet on Aug. 18, quant analyst PlanB, creator of the Stock-to-Flow series of Bitcoin price models, said that with a relative strength index (RSI) of 64, the bull market was “confirmed.”PlanB: BTC “looking strong”RSI is used to determine whether Bitcoin is overbought — or oversold — at a specific price point.Current behavior mimics that of previous halving cycles, with 2012 and 2016 both seeing solid RSI

Weekly Bitcoin and Cryptocurrency Market Analysis

Source Node: https://bitcoinist.com/weekly-bitcoin-and-crypto-market-analysis/?utm_source=rss&utm_medium=rss&utm_campaign=weekly-bitcoin-and-crypto-market-analysis
Time Stamp: August 18, 2020 4:28 AM - Modified On: May 21, 2021 - Published By:
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Simon Peters, market analyst: Bitcoin Teases Us At $12,000  Suffice it to say, it was a busy week, with mixed performance in equity markets and odd – but not unpromising – movements for bitcoin. The FTSE All-Share index and the STOXX600 both recorded steady rises, while the S&P500, which started the week at 3,352, took a turn for the worse on Wednesday. After its drop to 3,335, it has since recovered to 3,372. Bitcoin broke through $12,000 on Monday, only to suffer a significant fall to $11,275 by Wednesday morning.

Bitcoin and Cryptocurrency Market Roundup, and the Week Ahead

Source Node: https://bitcoinist.com/bitcoin-and-cryptocurrency-market-roundup-and-the-week-ahead/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-and-cryptocurrency-market-roundup-and-the-week-ahead
Time Stamp: August 18, 2020 4:10 AM - Modified On: May 21, 2021 - Published By:
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Leading cryptocurrency Bitcoin is cementing its position as a mainstream macro asset. As cryptocurrency was advertised on TV screens nationwide last week, and in the pages of the Financial Times, the bitcoin adoption rush has intensified. Day trading social media mogul Dave Portnoy is dabbling in cryptocurrency, and MicroStrategy, a listed company with over $1 billion in revenue, has chosen bitcoin as a reserve asset. Even former skeptic George Ball, chairman at investment firm Sanders Morris Harris, has advised investors that Bitcoin is a safe bet. These fundamental developments have

What is Bancor Protocol? A DeFi Guide to BTN

Source Node: https://www.asiacryptotoday.com/bancor-protocol-guide/
Time Stamp: August 18, 2020 3:10 AM - Modified On: May 21, 2021 - Published By:
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Bancor Protocol takes advantage of smart contracts to build a decentralized, interoperable, and highly-liquid token exchange protocol. It became popular in the decentralized finance (DeFi) space shortly after having introduced smart tokens that facilitate instant exchange between different ERC-20 tokens in the market, regardless of their volume. Such development has opened a lot of other opportunities to users without having to involve third-party financial service providers in the scenario. Table of Contents Background The Team The team consists of five members of the Bancor Foundation, based in Zug, Switzerland. Bernard

Here’s Why Bitcoin Is Primed to Move Towards $13,000

Source Node: https://bitcoinist.com/heres-why-bitcoin-primed-move-towards-13000/?utm_source=rss&utm_medium=rss&utm_campaign=heres-why-bitcoin-primed-move-towards-13000
Time Stamp: August 18, 2020 1:00 AM - Modified On: May 21, 2021 - Published By:
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Bitcoin is surging higher after holding in the high-$11,000s for a number of days. As of this article’s writing, the leading cryptocurrency trades for $12,150. Although this is not much higher than the breakout zone at $12,000, analysts are optimistic about what’s next for the market. This rally was predicated on a surge of spot market volume, adding fuel to the case for upside. BTC is expected to move to $13,000 next, which is around where the next level of macro resistance lies. Bitcoin’s ongoing rally seems to be influenced

Here are the Levels Analysts are Watching That Will Determine Bitcoin’s Future

Source Node: https://bitcoinist.com/here-are-the-levels-analysts-are-watching-that-will-determine-bitcoins-future/?utm_source=rss&utm_medium=rss&utm_campaign=here-are-the-levels-analysts-are-watching-that-will-determine-bitcoins-future
Time Stamp: August 17, 2020 7:00 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin has been trading within a large  range throughout the past several weeks This has done little to offer investors with insights into the cryptocurrency’s mid-term trend That being said, bulls are now striving to break above the upper boundary of this range, with a confirmed and sustained break being an incredibly bullish sign for BTC Top traders are still expressing caution when it comes to the cryptocurrency’s short-term outlook One trader is noting that a failure for BTC to post a new high above $12,000 would be a grim

Will Ethereum’s Strong Weekly Close Be Enough to Propel It Higher?

Source Node: https://bitcoinist.com/will-ethereums-strong-weekly-close-be-enough-to-propel-it-higher/?utm_source=rss&utm_medium=rss&utm_campaign=will-ethereums-strong-weekly-close-be-enough-to-propel-it-higher
Time Stamp: August 17, 2020 4:00 PM - Modified On: May 21, 2021 - Published By:
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Ethereum has been hovering between $420 and $430 for the past few days, with the resistance found around $450 sparking a prolonged consolidation phase The cryptocurrency has been unable to extend its recent upwards momentum after facing a rejection at this level This has pointed to some underlying short-term weakness, although its long-term outlook remains incredibly bright Analysts are now noting that the token may be well-positioned to see significantly further upside after it sees a low-time-frame dip This potential strength comes after it closed its daily and weekly candle

Cryptocurrency News Roundup for August 17, 2020

Source Node: https://beincrypto.com/cryptocurrency-news-roundup-for-august-17-2020/
Time Stamp: August 17, 2020 2:30 PM - Modified On: May 21, 2021 - Published By:
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More than nine out of ten bitcoins in supply are currently in the money, meaning they have yielded a higher return-on-investment for their owners over time. And this profitability is not just confined to the alpha-crypto. According to new data from cryptocurrency analytics firm, IntoTheBlock, nearly 95% of all Chainlink (LINK) and 94% of all VeChain (VET) addresses are currently in profit. In fact, barring a few exceptions such as Litecoin (LTC), most of the major wallet-bound altcoins are earning sizeable profits for their holders. More on that and other

Bitcoin is Poised to Push Towards $14,000 After Posting Bullish Weekly Close

Source Node: https://bitcoinist.com/bitcoin-is-poised-to-push-towards-14000-after-posting-bullish-weekly-close/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-is-poised-to-push-towards-14000-after-posting-bullish-weekly-close
Time Stamp: August 17, 2020 2:00 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin has continued consolidating within the upper-$11,000 region overnight This extended period of sideways trading has come about despite it facing multiple recent rejections at $12,000 Its inability to break above this level has so far not led it to see any notable near-term downside, with $11,700 becoming a strong level of support This support level was previously a crucial resistance that it was struggling to close above Yesterday marked the first daily – and weekly – close that the cryptocurrency had been able to post above this crucial level

Bitcoin Blasts Back Above $12,000, Sets New High For 2020

Source Node: https://bitcoinist.com/bitcoin-blasts-back-above-12000-sets-new-high-for-2020/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-blasts-back-above-12000-sets-new-high-for-2020
Time Stamp: August 17, 2020 11:04 AM - Modified On: May 21, 2021 - Published By:
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Bitcoin’s price this morning blasted clean above $12,000 for yet another attempt to hold above the key level. The latest move also has set a new high for the year. Will this latest performance from bulls lead to a much stronger push higher to retest $14,000, or after so many weeks of positive momentum, is the trend started to near its end? New 2020 Record High Set For BTCUSD After Monday Morning Mayhem This morning, to start off the week with as Monday morning trading activity started across the US,