Echo Launches Bitcoin Sidechain, a Weighted Approach to More Functionality

In late November 2019, the Bitcoin-based DApp network Echo announced the launch of a Bitcoin sidechain on its blockchain testnet. It framed the release as a critical step in its mission to establish decentralized financial applications that leverage BTC as a native asset for lending, trading and more.  “The launch of the Bitcoin sidechain on Echo testnet is the first step towards building the most trust-minimized sidechain for Bitcoin in existence,” Alexei Dulub, founder and CEO of PixelPlex, the blockchain development firm behind Echo, told Bitcoin Magazine. “Getting BTC into…

Bitcoin Addresses With Any Balance Hit All-Time High

According to data compiled by Coin Metrics, a crypto asset market analysis firm, the number of Bitcoin addresses that hold any amount of satoshis reached a new all-time high between October and November 2019. According to the data, more than 28,393,045 addresses held some balance of bitcoin in that period, eclipsing a previously achieved all-time high of 28,384,557 accounts in January 2018. Shared on Twitter by Avon Ventures investor Alex Thorn, this graph hints at a rise in Bitcoin popularity in terms of actual use. Shared on Twitter by Avon…

Bitcoin Eyes Crash Towards $6K as Market’s Distress Grows

Bitcoin opened on a faint note this Monday as the market showed a lack of sense of direction owing to low volatility. The world’s leading cryptocurrency was trading at around $7,575.27 as of 1429 UTC after rising by 0.8 percent since the market open. The move upside brought the asset’s net month-to-date gains up by 0.4 percent. It additionally revealed traders’ fear of making big moves after bitcoin established its seven-month low in November, followed by an alarming pump-and-dump behavior on spot exchanges in the first week of December. The…

Bitcoin Price Fills $7.5K Futures ‘Gap’ as Trader Weighs $8K Potential

Bitcoin (BTC) fluctuated around $7,500 on Dec. 9 after a weekend of range-bound movement reduced volatility concerns for traders. Cryptocurrency market daily overview. Source: Coin360 Bitcoin delivers classic futures “bounce” Data from Coin360 and Cointelegraph Markets showed the largest cryptocurrency trading in a $250 corridor since Friday, marking local highs of $7,604 before briefly reversing to $7,395 on Sunday. Since then, the $7,500 boundary has acted as a centerpiece for Bitcoin, which comfortably filled the latest “gap” in futures markets once again as the week began. An increasingly common feature,…

Bitcoin Charts First Weekly Golden Cross in 3.5 Years

Bitcoin violated the falling trendline resistance on Dec. 4. So far, however, that has failed to invite buyers in numbers. A UTC close above the Nov. 29 high of $7,870 is needed to invalidate the lower-highs set up and confirm a bullish reversal. That will likely yield a quick move higher to $8,500–$8,672 (61.8 percent retracement of the drop from $10,350 to $6,511).  Source link

Bitcoin News Summary – December 9, 2019

   Ethereum successfully upgraded to its latest version, dubbed “Istanbul” over the weekend. The update contains numerous improvements that address Ethereum’s security against DDoS and spam attacks, gas usage costs, and smart contract flexibility. Istanbul also makes Ethereum interoperable with Zcash. While the fork was highly anticipated, the effect on the price of ETH has thus far proven mild. $8.9 billion was moved over Bitcoin’s blockchain within the span of one hour, setting a new hourly record in terms of value transferred. The amount was moved by the Bittrex…

Bitcoin (BTC) Target Fresh Monthly High or Even $8K

Bitcoin price is showing positive signs above the $7,400 resistance area against the US Dollar. The price is likely to clear the $7,560 and $7,600 resistances to continue higher. There is a major bullish trend line forming with support near $7,490 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rally once there is a successful close above $7,600 and $7,700 in the coming days. Bitcoin price is trading in a positive zone above $7,400 against the US Dollar. BTC is likely to test…

Bitcoin And Crypto Market Rising: BCH, Litecoin, EOS, XLM Analysis

The total crypto market cap is slowly rising and it is currently near the $200.0B resistance. Bitcoin price is up close to 2% and it is now trading above the $7,500 resistance. Litecoin (LTC) price is now trading above $45.00, but it is still facing a lot of hurdles. Bitcoin cash price is climbing higher towards the key $220 and $225 resistance levels. EOS price is trading above the $2.700 resistance and it could climb above $2.850. Stellar (XLM) price is slowly rising towards the $0.0585 resistance level. Bitcoin (BTC)…

Ripple (XRP) Price Poised For Further Gains, Bitcoin Rising

Ripple price is gaining momentum and it is rising above $0.2250 against the US dollar. The price is likely to continue higher above the $0.2320 and $0.2350 resistance levels. There is a key bullish trend line forming with support near $0.2265 on the hourly chart of the XRP/USD pair (data source from Kraken). Ethereum is approaching the $152 resistance, above which it could rally. Ripple price is showing a lot of positive signs against the US Dollar, similar to bitcoin. XRP price remains well supported and it could rally above…

No More Bitcoin for Nordea Bank Employees, Experts Question the Motive

An act of paternalism or a case of generic Bitcoin (BTC) distrust? It is hard to make out the exact reasons for Nordea Bank’s ban on its 31,500 employees trading in Bitcoin or other cryptocurrencies — even on their own time — a prohibition that was upheld on Dec. 2 by a Danish court. In a press release posted by the court following its ruling, Nordea Bank noted that, “Employees are permitted to keep any existing [crypto] holdings,” though it added that they were encouraged to sell them. As reported…