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70% Chance Bitcoin Reclaims $11.8K by July 2020; Here’s Why

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  • Bitcoin rallied Friday, reversing a minor portion of its losses incurred during the yesterday’s sell-off.
  • The cryptocurrency retraced upward from a convincing support trendline.
  • It now appears to be trending inside a technical pattern, which has a 70 percent success rate in sending prices higher.

Bitcoin rallied a day after experiencing a significant sell-off that sent its price down by 6.33 percent.

The benchmark cryptocurrency surged 1.96 percent to $9,449 as traders bought the intraday dip. The pullback move appeared near a short-term ascending trendline: this upward slope has repeatedly capped bitcoin’s downtrend attempts from flourishing into more massive breakdown actions.

bitcoin, btcusd, xbtusd, btcusdt, btcusd, cryptocurrency, cryptoBTCUSD jumps after testing a short-term technical support | Source: TradingView.com, Coinbase

Earlier this week, the bitcoin price was looking to break above the horizontal trendline (red) in the chart above. That price ceiling sits roughly near $10,000, a level that has stopped bitcoin from attaining a full-fledged breakout since February 2020.

Looking at both the rising and the horizontal trendline together makes an Ascending Triangle. Technically, the pattern forms during an asset’s uptrend continuation. It is typically a bullish indicator, with a 70 percent success rate in sending the asset’s price higher.

Bitcoin Retesting $10,000

Bitcoin’s latest retracement from $10,000 landed the price right near the Ascending Triangle support. Traders convincingly validated the trendline as their place of accumulation as the price rose higher. The price action overall raised bitcoin’s possibility of retesting the horizontal resistance at $10,000.

At least that is what an Ascending Triangle indicates. The asset fluctuates between its ranges unless it nears or hits the pattern’s apex – where the trendlines converge. Then, 7 out of ten times, it breaks bullish above the resistance.

ascending triangle, bitcoinExample of Ascending Trendline breakout | Source: StockCharts.com

Bitcoin’s current moves fit the description of an Ascending Triangle so far. Meanwhile, its daily volume is falling as price rises overall, which further hints at a potential breakout as the cryptocurrency nears the Triangle’s apex.

bitcoin, btcusd, xbtusd, btcusdt, btcusd, cryptocurrency, cryptoBTCUSD breakout targets | Source: TradingView.com, Coinbase

Under ideal circumstances, Bitcoin should break to the upside by as much as the maximum height of the Triangle. That is roughly $1,800. It means Bitcoin could go as far as $11,800 should the Ascending Triangle stays true to its technical description.

Meanwhile, the pattern could also lead the price down below the Triangle support. Such a breakdown move would land the price down by at most $1,800. That roughly puts Bitcoin’s downside target between $7,352 and $8,185, measured from the point of negative breakout.

The Fundamental Mix

Bitcoin’s short-term price actions are also mirroring moves of the U.S. stocks. Its sell-off on Thursday coincided with similar drops across the Dow Jones, the Nasdaq Composite, and the benchmark S&P 500.

The U.S. stock market suffered because of the Federal Reserve’s warning about a slower-than-expected economic growth, bulldozed further with slower recovery in the job sector. Both stocks and Bitcoin were rallying since March, buoyed by Fed’s aggressive stimulus measures.

On Friday, the U.S. stocks pared part of its recent losses, with the S&P 500 futures hinting to open the day 1 percent higher. Bitcoin, like a true correlated asset, surged in tandem.

bitcoin, btcusd, xbtusd, btcusdt, btcusd, cryptocurrency, cryptoCorrelation between Bitcoin and the S&P 500 | Source: TradingView.com, Coinbase

The mounting influence of Wall Street on Bitcoin could spoil the Ascending Channel narrative. Nevertheless, the correlation could break if the market decides to hedge into bitcoin against the stock market. Some investors, including veteran hedge fund manager Paul Tudor Jones, have followed a similar strategy lately.

Source: https://www.newsbtc.com/2020/06/12/70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why/?utm_source=rss&utm_medium=rss&utm_campaign=70-chance-bitcoin-reclaims-11k-by-july-2020-heres-why

Blockchain

Blockchain.com erhält die bisher größte Einzel-Investition von 100 Mio. USD

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Die in Edinburgh ansässige Baillie Gifford & Co. hat 100 Millionen US-Dollar in Blockchain.com investiert.

Der 110 Jahre alte Vermögensverwalter ist bekannt für seine frühen Investitionen in Tech-Firmen wie Amazon, Google und – besonders aktuell – Tesla. Laut Peter Smith, CEO von Blockchain.com, ist dies eine der ersten Investitionen von Baillie Gifford in ein Krypto-Unternehmen. Er sagte auch, dass diese Investition eine weitere Befürwortung von Kryptowährungen von institutionellen Investoren darstellt. Dies ist die größte Einzel-Investition des Blockchain-Startups bis heute (Stand: 21. April 2021).

Bisherige Finanzierung von Blockchain.com

Letzten Monat gab Blockchain.com bekannt, dass das Unternehmen in seiner Series-C-Finanzierungsrunde 300 Millionen Dollar eingenommen hat. Damit lag die Bewertung des Unternehmens bei 5,2 Milliarden US-Dollar. Dies folgte nur einen Monat, nachdem das Unternehmen 120 Millionen Dollar eingenommen hatte. Während dieser Runde kamen Louis Bacon und Kyle Bass als Investoren hinzu. Zu diesem Zeitpunkt wurde das Unternehmen mit 3 Milliarden US-Dollar bewertet. In diesem Zeitraum trat auch der ehemalige stellvertretende Stabschef von Präsident Barack Obama, Jim Messina, dem Vorstand des Unternehmens bei.

Die jüngste 100-Millionen-Dollar-Investition trägt zu den 1,5 Milliarden US-Dollar bei, die Blockchain.com seit seiner Gründung im Jahr 2011 eingenommen hat. Nachdem das Unternehmen während seiner ersten Series-A-Finanzierungsrunde im Jahr 2014 30 Millionen US-Dollar eingenommen hatte, kämpfte es nach dem Zusammenbruch von Bitcoin im Jahr 2017 mit der Kapitalbeschaffung. Aber bereits in diesem Jahr konnte das Unternehmen mehr Kapital aufbringen als im gesamten Jahr 2020.

Blockchain.com hat weltweit über 31 Millionen Nutzer in über 200 Ländern und unterhält 70 Millionen Wallets. Im vergangenen Jahr konnte das Unternehmen seine aktive Nutzerbasis um das Dreifache steigern.

Ein Bild von BeInCrypto.com
Ein Bild von BeInCrypto.com

Erwägung eines Börsengangs

Die Investitionen in Krypto-Unternehmen haben in diesem Jahr ein Rekordniveau erreicht. Dazu gehört vor allem der Börsengang von Coinbase an der Nasdaq. Am ersten Handelstag lag die Bewertung des Unternehmens damit bei über 100 Milliarden Dollar.

Je nachdem, wie sich die Aktien der Krypto-Börse weiter entwickeln, könnten andere Krypto-Unternehmen diesem Beispiel folgen. Dies ist etwas, von dem der CEO von Blockchain.com sagte, dass sein Unternehmen darüber nachdenkt. Smith erklärt:

„Das Unternehmen erwägt seine Public-Market-Optionen sorgfältig.“

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Alle auf unserer Website enthaltenen Informationen werden nach bestem Wissen und Gewissen recherchiert. Die journalistischen Beiträge dienen nur allgemeinen Informationszwecken. Jede Handlung, die der Leser aufgrund der auf unserer Website gefundenen Informationen vornimmt, geschieht ausschließlich auf eigenes Risiko.

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Nick is an Oral Communication Skills Professor and Data Science Specialist in Budapest, Hungary with an MSc in Business Analytics. He is a relative latecomer to the field of cryptocurrency and blockchain technology, but is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.<a href=”mailto:editorinchief@beincrypto.com”>Email him!</a>

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Playboy betritt den NFT-Markt

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Das Playboy-Magazin, eine Ikone der Männerunterhaltung, ist wieder da. Das Unternehmen wird bald seine ersten NFTs auf den Markt bringen.

Der Playboy möchte wie auch zahlreiche andere Unternehmen und Künstler von dem lukrativen und boomenden NFT-Markt profitieren. Darüber hinaus plant das Unternehmen, mit aufstrebenden Künstlern an neuen, originellen Kunstwerken zu arbeiten.

Playboy geht wieder an die Börse

Wie auch viele andere traditionelle Verlage litt der Playboy unter dem starken Rückgang der Nachfrage nach klassischen Printmedien. Im Jahre 2011 verließ das Unternehmen aufgrund von fehlenden Werbeeinnahmen die Börse. Allerdings ist der Playboy im Februar 2021 wieder an die Börse gegangen und möchte nun mit einem neuen Businessplan die Zukunft verändern.

Anfang April 2021 kündigte das Unternehmen Playboy an, dass Nifty Gateway nun ein offizieller Partner von ihm ist.

„Bei unserem Eintritt in die NFT-Branche können wir auf unsere lange Geschichte aufbauen. Wir haben zahlreichen Künstlern eine Plattform geboten, auf der sie sich selbst ausdrücken können.“

Playboy möchte NFT-Archiv erstellen

Der Playboy kooperiert mit Nifty Gateway, um mit seinem extrem großen Archiv, das zahlreiche Fotos, Interviews und andere Kunstwerke enthält, weitere Profite zu erwirtschaften. Außerdem plant das Playboy-Team, gemeinsam mit bekannten und talentierten Künstlern NFTs auf den Markt zu bringen.

Für einer der ersten NFT-Kollaborationen arbeitet der Playboy mit der Künstlerin Blake Kathryn zusammen. Sie wird extra für den sogenannten „Pride Monat“, der im Juni jeden Jahres stattfindet, Content erstellen.

Die Chief Brand Officer von Playboy, Rachel Webber, äußerte sich positiv über Krypto, als die Partnerschaft bekannt gegeben wurde: 

„Wir glauben von ganzem Herzen an die Zukunft einer Blockchain- und Krypto-betriebenen Kunstwelt, die den Schutz von Künstlern und Sammlern, eine kontinuierliche Kompensation der Künstler und die Demokratisierung des Vertriebs und des Sammelns gewährleisten kann.“

Ein Bild von BeInCrypto.com
Ein Bild von BeInCrypto.com

Aktien Preis geht durch die Decke

Der Aktienkurs des Unternehmens (PLBY Group) konnte im letzten Monat um 83 % zulegen. Insgesamt ist der Kurs seit dem Wiedereintritt in den öffentlichen Markt um 173 % gestiegen. Die Modernisierungsmaßnahmen und das geschickte Marketing des Playboys sind wahrscheinlich die Hauptgründe dafür.

NFT BIC
Ein Bild von BeInCrypto

Übersetzt von Maximilian M.

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Alle auf unserer Website enthaltenen Informationen werden nach bestem Wissen und Gewissen recherchiert. Die journalistischen Beiträge dienen nur allgemeinen Informationszwecken. Jede Handlung, die der Leser aufgrund der auf unserer Website gefundenen Informationen vornimmt, geschieht ausschließlich auf eigenes Risiko.

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Savannah Fortis is a multimedia journalist covering stories at the intersection culture, international relations, and technology. Through her travels she was introduced to the crypto-community back in 2017 and has been interacting with the space since.

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Source: https://de.beincrypto.com/playboy-nft-markt/

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Bitcoin correction looms as 4-hour death cross beckons

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Bitcoin is on the brink of a macro reversal in terms of price action having slumped dramatically from its all-time high of $65,000 just one week after the Coinbase’s share went live on Nasdaq.

The world’s largest cryptocurrency is currently consolidating in the $55,000 region following a sharp rejection from the $57.2k level of resistance on Tuesday evening.

Whilst several analysts are predicting that this is the final pullback before another charge to a new all-time high, the four-hour exponential moving average formation demonstrates a severe lack of momentum.

The four-hour 50 EMA crossed the 200 EMA to the upside on October 9 when Bitcoin was worth $11,150 in what is called a “golden cross”. Since then, Bitcoin has embarked on a quite incredible bull market with a 480% rally to the upside.

During which the 50 EMA has failed to cross back below the 200 EMA as the uptrend continued to form new highs at $40,000, $58,500, $61,800 and more recently $65,000.

BTCUSD chart by TradingView

However, the 50 EMA is now aggressively angled to the downside, with it being just $600 away from the 200 EMA at $57,550. A cross will likely take place today unless Bitcoin can surge to above $57,500 before the next two candle closures.

Previous four-hour death crosses have led to a series of major corrections in the price of Bitcoin, with a cross in November 2019 preceding a 25% pullback while the subsequent cross in February 2020 came before a 63% correction.

It’s worth noting that the death cross is not confirmed until the 50 EMA has closed a four-hour candle below the 200 EMA, with a potential move expected to happen over the coming weeks.

For more news, guides and cryptocurrency analysis, click here.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinrivet.com/bitcoin-correction-looms-as-4-hour-death-cross-beckons/

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New Discovery Conference Scheduled for SEC v. Ripple

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One of the lawyers representing Ripple (XRP) in their ongoing lawsuit with the United States Securities and Exchange Commission (SEC) announced that a new discovery conference is to take place.

Defense attorney James K. Filan announced on Twitter that a telephone conference is scheduled for April 30. 

Reports indicate that the conference is about the SEC’s attempts to contact and acquire documents from Ripple’s foreign regulators. These are documents that the plaintiff could use against Ripple in their lawsuit.

In the last of the series of four Tweets, Filan states that the SEC is seeking discovery “outside the Rules of Federal Procedure and the Hague Convention.”

Filan, a former federal prosecutor, invited members of the public to listen in on the conference. He was quick to remind them, however, that recording and rebroadcasting the proceedings is strictly prohibited.

The latest developments

The conference follows a written request to U.S. Magistrate Sarah Netburn filed on April 16.

Ripple’s lawyers issued this request on behalf of Ripple’s CEO, Brad Garlinghouse, and executive chairman Chris Larsen. The letter asked the judge to stop the SEC from trying to acquire information about the defendants from their foreign regulators.

Furthermore, the letter also asserts that the SEC’s action is an intimidation tactic. One that the Ripple execs believe could affect their business relationship with the regulators. 

The lawsuit stems from the SEC’s assertion that, since 2013, Ripple Labs raised over $1 billion with the sale of XRP. The SEC alleges that the tech company violated the United States Securities Act of 1933 in doing so.

Earlier this month, the courts ruled in Ripple Labs’ favor in a dispute with British company Tetragon.

The suspected outcome

On Twitter, James Filan states it is likely that the court will support Ripple Labs. When asked for his opinion on the outcome of the conference, the lawyer shared a two-part tweet, which read:

“I think there is a decent chance the Court will order the @SEC_News  to stop using the MOU requests to get discovery and withdraw any that might be pending,” he writes.

“I also think the Court will order the @SEC_News to turn over to #Ripple everything it collected using […] the MOU process since the lawsuit was filed. Otherwise, the Court will be sending the message to the @SEC_News and everyone else that it’s okay to not follow the Court’s rules and that’s not something a court will normally do,” he concludes.

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All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Dale Hurst is a journalist, presenter, and novelist. Before joining the Be In Crypto team, he was an editor and senior journalist at a news, lifestyle and human-interest magazine in the UK.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/new-discovery-conference-scheduled-for-sec-v-ripple/

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