Sirwin
Sirwin

🗞 Daily Crypto News, May, 24th💰


  • Bitcoin Price Ping Pong Within Tighter Range Hinting at $8.5K Next;
  • CZ Believes Steem Users Should Launch (Another) Counter-Fork ;
  • 7 Main Post-Halving Bitcoin Narratives ;
  • Central Bank Digital Currencies Need Decentralization ;
  • Colombia, Deloitte, ConsenSys Sign On to WEF’s ‘Blockchain Bill of Rights’
  • 🗞 Daily Crypto Calendar, May, 24th 💰

 

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

 

🗞 Bitcoin Price Ping Pong Within Tighter Range Hinting at $8.5K Next

The price of Bitcoin (BTC), the top-ranked cryptocurrency by market capitalization, has seen a spike towards $10,500 before the halving took place on May 11. However, the price of Bitcoin has been having problems since the halving and is currently showing more signs of weakness.

On the other hand, altcoins have been starting to show signs of life with the BTC market dominance index sliding from 67% to 65% after the halving. Is the momentum now shifting towards altcoins from Bitcoin as the most anticipated event is behind us?

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Bitcoin price is hovering inside a wide range as volatility drops

The price of Bitcoin is stuck inside a wide range as the next chart shows. The resistance area in the red zone between $9,800 and $10,100. At the same time, the price is finding support in the $8,250-8,500 area.

Additionally, BTC is moving above the 100-day and 200-day moving averages (MA), a bullish sign for the markets.

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🗞 CZ Believes Steem Users Should Launch (Another) Counter-Fork

Changpeng Zhao, or CZ, the chief executive of top crypto exchange Binance, has issued a statement regarding the recent Steem hard fork that sought to freeze 23.6 million STEEM tokens associated with 64 wallet addresses.

Binance will support the fork, however, indicating that they will support future forks executed by those affected within the Steem community.

Steem fork attracts controversy

The latest fork was ostensibly intended to protect against malicious actors in the Steem network, however, critics have accused the project of seeking to punish proponents of the Hive hard fork and detractors of Steemit’s owner as of February, Justin Sun.

Binance previously was criticized for aiming Sun in a hostile ousting of the network’s former validators via fork during early March, however, CZ quickly withdrew support for the fork claiming that Sun and Steem had misled him as to the nature of an ‘update’.

🗞 7 Main Post-Halving Bitcoin Narratives

  • Decentralized digital gold campaign
  • More institutional investors, more derivatives
  • Bitcoin scaling up, green mining
  • Regulation and CBDCs

The third Bitcoin (BTC) halving has finally happened, hashrate dropped less than estimated, fees skyrocketed, but, contrary to the doom mongers, the bitcoin price hasn’t fallen.

What happens next? What will become the next talk of the town as the “priced in/not priced in” debate has now disappeared together with 50% of the block subsidy on May 11?

According to industry figures interviewed by Cryptonews.com, a number of key narratives and trends are likely to dominate Bitcoin’s fate over the coming 12 months.

...

🗞 Central Bank Digital Currencies Need Decentralization

Igor Mikhalev is an expert principal at BCG helping clients develop business models with blockchain technologies and digital currencies. Kaj Burchardi is a Managing Director with BCG and leads the blockchain practice of BCG/Platinion globally.

Digital currencies hold a long-term promise to change the way nations, corporations, and people transact value. Some of them – combining both cryptocurrency benefits (disintermediation, high speed, and low cost of transactions) as well as qualities of traditional currencies (e.g. price stability and being able to act as legal tender) – challenge traditional financial systems at the core. While first-generation digital currencies deployed by consortia of industry players may only deliver incremental changes such as the reduction in money movement prices and lowering the cost of capital for unbanked, adoption across nations through CDBC 2.0 holds the potential to unlock significant value available for first-movers to capture.

Exhibit-1-775x428.png?format=webp

Throughout our analysis, we have developed and applied the Total Social Impact framework (see exhibit 2) to understand the societal value chain impact of the introduction of digital currencies as well as potential effects of adoption by nations, central banks, corporations, and individual users. Specific underlying drivers have been defined and evaluated for each TSI dimension.

Exhibit-2-775x436.png?format=webp

🗞 Colombia, Deloitte, ConsenSys Sign On to WEF’s ‘Blockchain Bill of Rights’

The token economy just gained an organized structure for collaborating with world leaders.

The World Economic Forum revealed its Presidio Principles on Friday, a “blockchain bill of rights,” according to the nonprofit focused on fostering diplomacy and international business partnerships. The document includes signatories from the Government of Colombia, Deloitte Consulting LLP, ConsenSys, Electric Coin Company, CoinShares and the United Nations’ World Food Program, just to name a few.

“We supported the creation of the Presidio Principles – as well as guidelines and design principles for public institutions – because we wanted to ensure that progress can continue rapidly and responsibly, ensuring that basic characteristics like security and data privacy are secured for our citizens,” Victor Munoz, Colombia’s presidential advisor on economic affairs and digital transformation, said in a press statement.

🗞 Daily Crypto News, May, 23rd💰

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  • Conceal (CCX)

For the first time ever in English, we'll be doing a YouTube live stream with @SavageMine on Saturday, May 23, 2020 (at 14:30-15:30 UTC).

  • Rapids (RPD)

"The Rapids Network Consensus change and updates will occur at Block 793850, 14 days from now [May 8th]."

  • TigerCash (TCH)

"We are pleased to announce upcoming AMA with CoinTiger Exchange @CoinTigerEX On 14:00 PM..."

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Crypto_Lemon
Crypto_Lemon

Entrepreneur 🤵 , Writing about Blockchain, Cryptocurrencies 🚀, & Technology🕹


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