Bitcoin Closing the May Candle Above $9,360 is Crucial For Bulls: Here’s Why

In just a few minutes’ time, Bitcoin will close May’s price candle. Analysts say that this close will be crucial for indicating in which direction the cryptocurrency market heads next. A region of importance that many analysts are eyeing is the low-$9,000s. As one analyst explained: “We’ve not had a Monthly close above 9360 in nearly 12 months. Rejections from this level have led to tests of $6k and eventually $3k.” Indeed, when Bitcoin failed to surmount this level in February, prices dove to $3,700 during March’s capitulation. And when…

Goldman Scandal, BTC Bull Trap Fears, How Libra Will Make Money: Hodler’s Digest, May 25–31

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Goldman Sachs butts heads with Bloomberg over Bitcoin One of the world’s biggest investment banks caused a stink this week when it declared cryptocurrencies are not an asset class. In a leaked PowerPoint presentation, Goldman Sachs warned Bitcoin doesn’t provide diversification benefits, dampen volatility in…

Trading Bitcoin Vs. BTC Futures — Which Is Best for You?

There’s an increasing number of exchanges offering futures contracts trading. So far there’s Binance, FTX, Bitfinex, Bybit, and Kraken, to name just a few. Volumes are also picking up across the board and it appears that retail traders are growing more interested in experimenting with these complex instruments.  As recently reported by Cointelegraph, there are multiple benefits to using futures trading. Traders using them can hedge and maintain peace of mind during periods of high volatility. Futures contracts can be used to reduce risk and leverage bets when the appropriate…

Key Indicator: Bitcoin and Other Top Cryptos Are Printing “Perfect Sell Setups”

After plunging last week, the Bitcoin market has mounted a hefty recovery over the past week. The leading crypto asset traded as high as $9,700 on Saturday evening — just a few percentage points shy of the monthly high. Ethereum has fared even better, with the asset pushing 10% higher within a 24-hour time period this weekend. This recovery has convinced many traders that the crypto market is on the verge of a full-fledged bull run, but a key indicator is suggesting a “perfect sell setup” has formed. Bitcoin &…

Regulator and Industry Coordination Key to Swift Implementation

“Coming together is a beginning, staying together is progress, and working together is success” — the words of Henry Ford give expression to the spirit of collaboration that defines human progress. His ethos around unity extends to many societal strands, including endeavors of profit, community initiatives and far-reaching government policies. When navigating uncharted territory, such as the handling of technological innovation from a regulatory perspective, different stakeholder groups must resist the urge to remain siloed in their strategies and lean into Ford’s vision for shared success. The art of enacting…

John McAfee Calls His Own 1$M Bitcoin Price Prediction ‘Nonsense’

John McAfee, an eccentric cryptocurrency advocate and British-American entrepreneur, in a tweet called his own previous prediction of Bitcoin price hitting $1 million a total “nonsense” adding that people who believed his “absurd” forecast should “wake up”.  McAfee used the whole North America continent GDP as a comparison reference to explain why his call was just a joke, stating that:  “If Bitcoin ever hit $1 mil, it’s market cap would be greater than the GDP of the entire North American Continent.” McAfee moved on from Bitcoin  In his recent tweet,…

For the Blockchain Industry, the COVID-19 Clock Is Ticking

Blockchains reached a feverish level of hype following the ICO mania of 2017. Peddled as the panacea to the world’s ills, many of such promises ill-intentioned, initial coin offerings raised enormous sums of funds within minutes as the public’s focus shifted to the wild world of cryptocurrencies. Once the hype faded, the emerging narrative surrounded enterprise blockchains and the vast potential of the nascent technology to lead businesses into the next generation of the internet. However, much of the original vision of blockchain technology and crypto was lost amid the…

Crypto Funds in Demand, Institutions See Bitcoin as Alternative Hedge

While the theater world has Waiting for Godot, the crypto sphere has its own drama: Waiting for the Institutional Investor. Recently, there have been some promising sightings. Grayscale Investments has been buying up Bitcoin (BTC) at a great rate in recent months.  Indeed, since the May 11–12 rewards halving event, the fund has been accumulating BTC at a rate equivalent to 150% of all the new Bitcoin mined, Cointelegraph reported on Thursday. The firm now has $3.2 billion in assets under management, or AUM, in its Grayscale Bitcoin Trust. Significantly,…

Conquering Decentralized Finance: Enter the Custodians

The future of finance is decentralized. Striving to facilitate that prognosis, decentralized finance — or DeFi — is quickly shaping into an alluring prospect for investors and companies alike. Looking to harness this decentralized ideal, rivals to the Ethereum-centric sector are feeling the fear of missing out and leveraging their own blockchains in order to gain dominance. Reaching an early climax this year, DeFi breached $1 billion in locked assets. For the Ethereum ecosystem, this stood as a significant boon, drastically increasing its value proposition — and leading competitors to…