Analyst Who Predicted Bitcoin’s $3,000 Bottom & More Thinks This Is Next

Analysts in the Bitcoin market are dime a dozen, but good analysts are hard to come by. One of these “good” analysts is PenarthUdi — a pseudonymous TradingView user who few know nothing about, other than the fact that his calls have been amongst some of the most accurate in the industry. In December 2018, he made the linked infamous call on TradingView, on a chart depicting that he expected for Bitcoin to bottom around $3,000 by the end of 2018, then rally to a price between $10,000 and $20,000…

US State Reps Submit Bill Spurring Blockchain Innovation in Rhode Island

Two state representatives in Rhode Island introduced a new bill promoting blockchain and technology adoption in the state.  Rhode Island representatives David Place and Blake Filippi introduced a new bill on March 11 known as the “Rhode Island Economic Growth Blockchain Act.” The motion aims to provide green pastures for blockchain innovation growth, ensuring Rhode Island’s ability to keep up with the times.  The bill’s new regulation  The new proposal aims to give blockchain regulatory parameters within Rhode Island. The bill reads: “The state of Rhode Island understands that to…

DeFi Giant MakerDAO Avoiding Shutdown in the Face of Tanking ETH — For Now

As Ether’s price sees record losses, MakerDAO, the biggest player in decentralized finance (DeFi) on the Ethereum network, is looking at responses including a shutdown — though that possibility remains unlikely at this point. Markets clobber DeFi Per a March 12 call in response to “Black Thursday” losses, developers and MakerDAO Foundation members weighed the damage that the drop in Ether’s price had done to MakerDAO’s lending protocol.  MakerDAO lends DAI for collateral in the form of Ether. As the market for ETH drops, MakerDAO’s protocol automatically sells. The recent…

Binance Doubles ETH Withdraw Fees, Firing Up Crypto Traders

Binance announced in a tweet on March 12 that it is doubling fees for ETH withdrawals. The company cited network congestion as the reason for the decision. The tweet specified:  “To better facilitate ERC20 and ETH withdrawals during this period of high congestion on the $ETH network, we are making the following temporary adjustments: ETH withdrawal 0.003 ETH is now 0.006 ETH ERC20 withdrawal 0.006 ETH is now  0.01 ETH Withdrawals will re-open shortly.” Binance Crypto Traders are not happy with the news This decision angered some members of the…

In Echo of 2008, Fed Pledges $1.5 Trillion Injection to Aid Reeling Markets

U.S. central bankers pledged Thursday to inject some $1.5 trillion into the financial system in an effort to calm panicky markets after the spreading coronavirus triggered steep price declines on everything from stocks to bitcoin. The move by the Federal Reserve Bank of New York comes as investors in traditional Wall Street markets have rushed to snap up U.S. Treasury bonds, historically viewed as a “safe haven” asset in times of turmoil. The flight to safety has pushed down the 10-year note’s yield, which moves in the opposite direction from…

Amid Market Downturn, Number of People Owning 1 BTC Hits New Record

Amid the ongoing crypto market decline, the number of crypto wallets containing one Bitcoin (BTC) or more continues to rise. According to major blockchain analytics firm, Glassnode, the number of Bitcoin addresses holding one or more bitcoins has been steadily growing and reached a new all-time high (ATH) On March 11. On that day, the amount of hodlers owning one Bitcoin or more reached an ATH of 795,630, crossing a previous ATH of 795,300 observed on March 10, Glassnode tweeted. Since March 2019, the number of Bitcoin wallets holding one…

US Fed Unveils $1.5T Rescue Injection But Will Bitcoin Price Rebound?

Equities markets and the crypto market continue to struggle as Europe and the United States enact increasingly drastic measures to ward off the spread of the Coronavirus. Among the general public and investors, there is a feeling that world governments have drug their feet in responding to what is clearly an urgent crisis, thus major markets continue to tumble.  The Dow opened sharply down, triggering the circuit breaker which halted trading for 15 minutes. Despite the intervention and a live statement from President Trump, the Dow is down 7% and…

$135B Injection from European Central Bank Dwarfs BTC Market Cap

After similar efforts from the U.S. Federal Reserve on March 10, the European Central Bank, or ECB, announced a $135 billion stimulus — a number that dwarfs Bitcoin’s (BTC) entire market cap. The ECB, in an effort to combat struggling markets, decided not to cut interest rates further. Instead, the central bank announced the allocation of 120 billion Euros, or $135.28 USD, to its asset purchase program, a CNBC report detailed on March 12.  The ECB decided not to cut rates, but inject massive capital Amid recent interest rate cuts…

Fintech in the United Kingdom After Brexit

The first round of negotiations between the United Kingdom and the European Union to determine their future, post-Brexit relationship took place between March 2 and March 5 in Brussels, Belgium. The outcome of these negotiations will shape the way the two work together following the end of the transition period, currently scheduled to extend through Dec. 31. For the financial technology sector, the discussions surrounding the future U.K.–EU regulatory relationship as it relates to financial services will be particularly important to watch, as the outcome will determine how fintech services…

Blockchain Technology Program Aims to Fight Violence Against Women and Children

The Inter-American Development Bank (IADB) has launched a competition which invites projects to propose blockchain-based solutions for preventing violence against women, children and the elderly. Companies, entrepreneurs, startups, and NGOs are all invited to submit their ideas. The challenge, called “Blockchangel“, was proposed in a joint alliance between the LACChain group’s innovation laboratory and the Everis Foundation. Incorporating a Blockchain is a requirement of the competition, and proposals must be applicable anywhere in Latin America and the Caribbean. According to the rules of the challenge, the following criteria must be…