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Bitcoin Price Rejected at $10.8K as Crypto Market Braces for Bakkt [cointelegraph.com]
Bitcoin 7-day price chart. Source: Coin360
The 12% seven-day gains excited analysts, who abandoned bearish sentiment to forecast a continuation of upward momentum. A subsequent slowdown in growth has tempered those aspirations, however, with markets now waiting for outside events to sway the mood.
For Filb Filb, a popular Bitcoin trader, the launch of institutional trading platform Bakkt later in September is the closest such deciding moment.
“Bitcoin continues to consolidate above $10k,” he summarized in private comments, adding:
“A lot of people are hoping to get bids filled below $9k; the market rarely gets what it wants and I wouldn’t be surprised if they are forced to buy higher. But let’s see what happens with the launch of Bakkt.”
Bitcoin price cautious as investors weights the potential of renewed US-China trade talks | Image Credits: TradingView.com
Bitcoin, which many analysts projected as a speculative hedge against the US-China trade dispute, saw its uptrend coming to a halt. The benchmark cryptocurrency was trading 0.47 percent higher to trade at $10,623.99 as of 1100 UTC, hinting a slowdown in otherwise winning streak noted earlier this week – of up to 16.1 percent in the positive territory.
As seen above, BTC prices have formed a bullish pennant indicating a possible bullish breakout on the shorter time frame of one hour. The pennant is seen to be preceded by a flag pole, which has a steep rise, further confirming the pattern. |Source: TradingView
Bitcoin’s bull run seems to have become constricted after it hit a peak of $13,800 on June 26, 2019. The price has been consolidating ever since, trying to breakout. The interesting thing to watch out for is the direction of the breakout. So far, there are two obvious predictions; one faction believes that the consolidation is a continuation pattern and will continue trending higher, while the other faction believes that the consolidation pattern is a descending triangle and that the price might dip to as low as $8,100 in the near future.
New York regulators have approved the launch of a new cryptocurrency developed by global exchange Binance. A collaborative effort between Binance and digital asset infrastructure developer Paxos, the stablecoin, Binance USD (BUSD), will be pegged to the US dollar.
According to today’s announcement, consumers will be able to buy BUSD and redeem the stablecoin 1:1 for the US dollar on the Paxos platform. Users will also be able to buy BUSD on Binance.com for trading against three initial pairs: BUSD-Bitcoin (BTC), BUSD-Binance Coin (BNB) and BUSD-XRP.
Apple first got into mobile payments in 2014 with the launch of Apple Pay with the promise to “transform” the mobile payment market. Apple Pay processes nearly one billion transactions a month.Last month, the company also launched its first credit card, the Apple Card, built into the iPhone’s Apple Wallet App.
This Goldman Sachs card, however, restricts the purchase of cryptocurrencies using the card, as per its customer agreement guidelines.
The Abyss will use Waves’ blockchain technology for building a universal marketplace of all tradable goods and in-game items offered by its partner game developers through their games. This is the first platform of its kind. Users will also be able to buy available items with Abyss tokens and sell it to others. This will help game developers to be able to have another channel of monetization for their game projects on The Abyss.
BTC/USD 4-hour chart by Tradingview
Bitcoin’s correction hits pause at $10,800 as buyers lose traction against the bears.
Bitcoin long-term technicals suggest a looming upward correction that could test $11,200 level.
Bitcoin is dragging the entire market into indecision after the second rejection from $10,800 in the same week. The coming sessions on Thursday are likely to determine the next direction. However, at the moment we will have to get accustomed to a ranging trend between $10,500 and $10,600.
Speculative price predictions always draw a lot of attention. Over the past two years, they have ranged from a crash to zero from the hard-line hecklers to a million dollars from a certain cybersecurity tycoon. The latest is an analytical piece from entrepreneur Harold Christopher Burger who looked into bitcoin’s natural long-term power-law corridor of growth.
Emergent Coding, Adoption Incentives and Practical Use – Bitcoin Cash City, Day 2 [thebitcoinnews.com]
Speaker Dao Zhou laments his recent frustration at waiting in a long line at a bar, and points to the Cashbar app as a solution. (photo by @kilrcola)
Morning session speakers on day two included seasoned crypto entrepreneur David R. Allen, Lead Developer at Bitcoin ABC Amaury Séchet, Bitcoin Cash App explorations and applications by Dr. Saad Butt, Dao Zhou and Ethan Cannon, CEO at Echt Fin, Jeanette Murphy, Sr. Software Engineer at Code Valley, Mark Fabbro, International Public Relations at Bitmain, Nishant Sharma, and Director at BCH.Club, Hongli Wang.
Bitcoin continues to set new records for dominance, as altcoins fall behind. On Thursday, BTC eked out a slight 0.37% price gain over the day before. But most altcoins continued the trend of two-to-three percent daily losses – which means that Bitcoin is now at 71% dominance.
In a blog post dubbed “Some Thoughts On Crypto” and published on September 4, Venture Capitalist Fred Wilson, who is also the co-founder and managing partner at Union Square Ventures, expressed disapproval for Vitalik’s project. He, however, had some nice words to say about the king crypto.
BTC/USD BitStamp 1-Day Chart | Cryptocurrency charts by TradingView.|
Technical analysis tools by Coinigy.
This is the bigger picture, and the chances are equal in my opinion. Some indicators are pointing up while some other – down. What is for sure is since the Bitcoin dominance had broken above 70% (for the first time since March 2017), the altcoins seem more like a falling-knife than projects competing with Bitcoin.
In an interview with The Australian Financial Review, Dorsey explained how mass adoption of bitcoin and other digital assets have the potential to reshape Square's business model.
He said that aside from the current payments and money transfer focus, the company would expand into areas such as "hardware, analytics and payroll and lending". Furthermore, cryptocurrencies will enable users easier access to services. He added:
As of 11:30 am ET, the Dow Jones Industrial Average had climbed an astounding 442.57 points. The rally launched the DJIA to 26,798.04 for a session gain of 1.68%.
The Dow surged within striking distance of the 27,000 mark, which it hasn't closed above since July. | Source: Yahoo Finance
The Dow was already primed for a colossal rally on Thursday after US and Chinese officials set a date for the next round of trade war negotiations.
But when the editor of a Communist Party mouthpiece teased that he expects to see a “breakthrough” when the two economic superpowers resume negotiations in October, the stock market went absolutely berserk.
코인데스크코리아와 부산광역시는 오는 9월3일 해운대 파크 하얏트 호텔에서 디지털 자산 거래소 박람회 ‘DAXPO2019’를 연다. 각 분야 전문가들을 초청해 다양한 관점에서 디지털 자산 생태계가 맞이한 새로운 국면을 진단할 예정이다.
블록체인 기술과 산업에 전문성을 인정받는 미디어 5사가 공동으로 아시아 최대 규모 블록체인 컨퍼런스 ‘코리아블록체인위크 2019(KBW2019)’를 오는 9월 27일부터 10월 4일까지 개최한다.
9월30일부터 10월1일 양일간 그랜드 인터컨티넨탈 서울 퍄르나스에서 팩트블록의 ‘코리아블록체인위크(KBW) 2019’ 주간(9월27일~10월4일) 중 메인 행사로 열리는 디파인 컨퍼런스에는 국내외 주요 기업들과 블록체인 프로젝트들이 대거 참여할 예정이다.