Bitcoin Price Bounces at Key Trendline Support 1 Day Before BTC Halving

In the last 3 hours Bitcoin (BTC) price gained 2.63% after dropping to $8,256 earlier in the day. With just less than 24-hours before the block reward halving is scheduled to take place, traders are likely biting their nails and anxious to see if the top ranked crypto-asset on CoinMarketCap will be able to reclaim $9,000.  Crypto market weekly price chart. Source: Coin360 Today’s drop to $8,256 brought the Bitcoin price below the ascending channel trendline for the second time in 24-hours and traders again purchased into the dip, allowing…

Bitcoin Goes Viral on ‘Chinese Twitter’ for the Third Time in 2 Weeks

While trading Chinese yuan through Bitcoin may technically be banned in China, that hasn’t stopped the country’s citizens from talking up a storm about cryptocurrency. This much was made clear on Sunday when Samson Mow, CSO of Blockstream, noted that according to data from Weibo (‘Chinese Twitter’), Bitcoin was a trending topic. This is the third time this has happened in the past two weeks. Bitcoin Trends on Weibo, “China’s ‘Twitter’” According to a screenshot of Weibo’s trending list from May 10th shared by Mow, a search term mentioning Bitcoin’s…

Loom Network Responds to Rumors of the Project’s Demise

On May 9, we wrote that the Loom Network, a platform-as-as-service blockchain project, appeared to no longer be active. Representatives from the platform have since responded publicly to Cointelegraph, indicating that the project is, in fact, alive and well. Communication in stasis Following the departure of the network’s CEO, the project announced that it would be pivoting away from its original business model into an enterprise-facing solution. In the weeks that followed, a number of the Loom Network’s validators abandoned the project, with one calling the network dead in a…

$270M in Longs Liquidated as Pre-Halving Hype Backfires

Yesterday’s sudden crash saw the price of Bitcoin (BTC) fall 14% from roughly $9,450 to $8,101 in less than 15 minutes. This appears to have shaken out over-exuberant margin traders who longed near $10,000 on heavy margin. According to market data aggregator, Cryptometer, over $295 million worth liquidations occurred on BitMEX alone — 98% of which were long positions. By contrast, liquidated shorts totaled $5.7 million. $290M liquidated on BitMEX in 24 hours Roughly 93% of yesterday’s liquidations took place in BitMEX’s XBT/USD markets, with Ripple (XRP) liquidations representing 4.1%…

Bitcoin Price Volatile 24 Hours Before Halving, Key Indicators Bullish

With Bitcoin’s (BTC) third mining rewards halving just over 24 hours away, mainstream market hype surrounding the event has grown exponentially, especially after balancing on the $10K threshold for some time. On May 9, BTC dropped to the $8,100 mark before making a small recovery to around $8,800. Nevertheless, the fact that BTC has overall been able to stave off bearish market pressure instilled a certain amount of confidence in the hearts of investors all over the globe — despite Bitcoin facing a 15% value slip on May 9. Additionally,…

Bitcoin Tests $10,000, ‘Halving Dump,’ $1M BTC Predicted: Hodler’s Digest, May 4–10

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 Three reasons for the Bitcoin “halving dump” from $10,000 to $8,100 We’re less than 48 hours away from “the halvening” — and there’s been no end of drama over the past week. Initially, there was hype as Bitcoin soared, with the world’s biggest cryptocurrency testing…

Bitcoin Miners Sell BTC Months After Halving, On-Chain Data Suggests

Bitcoin’s third halving is less than a day away and the cryptocurrency community remains divided on whether the price will rise or drop after the event. Interestingly, on-chain data from previous halvings suggests that after the halving Bitcoin price may not see an immediate drop. Google Trends data shows that searches for the halving have already surpassed previous all-time highs, and the crypto community has been issuing a variety of price estimates for the post halving price. Some analysts have pointed to the Efficient Market Hypothesis to support their view…

Jenny Ta on Transitioning From Wall Street to Crypto

In an exclusive interview with Cointelegraph, Jenny Ta, the former CEO of multiple investment firms and founder and chief executive of crypto-powered social marketplace, CoinLinked, discussed her journey transitioning from Wall Street to the decentralized economy. The serial entrepreneur and self-made millionaire emphasized the challenges of seeking sound legal advice for an emerging sector that is subject to rapidly evolving regulation. However, Ta predicts the increasing maturation of blockchain regulation will drive widespread adoption of crypto assets. From Wall St to crypto Ta recounts first hearing about Bitcoin (BTC) through…

Celsius Targets New Users With Tokenized Gold and Commodities

In an exclusive interview with Cointelegraph, Alex Mashinsky, the chief executive of pioneering decentralized finance, or DeFi, platform Celsius, and an inventor of the voice-over-internet-protocol, or VOIP, discussed the platform’s recent introduction of support for Tether Gold, or XAUT. Mashinksy described its support for tokenized gold as offering a bridge for users from the fiat currency into non-correlated and decentralized assets. Celsius creates history with gold support “For the first time in history, gold is earning interest in gold,” Mashinsky stated. “Every week we give you a small nugget of…

Halving Hype Drives Second-Strongest Spot Volume on Record

Pre-halving speculation has driven historic volumes of crypto trade, with April 30 producing the second-strongest single day for volume on record according to a report published by market data aggregator, CryptoCompare. Notional volume for BTC options on Chicago Mercantile Exchange, or CME, also tagged a new record in recent days, with 202 contracts changing hands on May 5. April 30 posts historic volume $66.2 billion worth of crypto assets changed hands on April 30 as Bitcoin (BTC) rallied above $9,000 — comprising the second-largest daily volume behind the $75.9 billion…