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Donald Trump calls Bitcoin a scam again

TL;DR Breakdown Trump says he hates Bitcoin once again Trump’s previous positive impact on Bitcoin The immediate past president of the United States of America, Donald Trump, has voiced his skepticism again about Bitcoin. He reiterated he is not a fan of cryptocurrency because of the threat it poses against the U.S. dollar. The ex-president […]

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TL;DR Breakdown

  • Trump says he hates Bitcoin once again
  • Trump’s previous positive impact on Bitcoin

The immediate past president of the United States of America, Donald Trump, has voiced his skepticism again about Bitcoin. He reiterated he is not a fan of cryptocurrency because of the threat it poses against the U.S. dollar.

The ex-president said this during an interview on Monday by Fox TV. Trump called bitcoin a scam because he did not like that the biggest cryptocurrency by market capitalization was competing against the U.S. dollar.

“Bitcoin just seems like a scam…I don’t like it because it is another currency competing against the dollar. Essentially it’s a currency competing against the dollar. I want the dollar to be the currency of the world. That is what I have always said.”

This is not the first time Donald Trump would openly say he hates Bitcoin. He has always been of the opinion that BTC and other crypto-assets should not be regarded as money.

In 2019, when he was still president, he said Bitcoin was highly volatile, and its value was based on thin air.

How Donald Trump made Bitcoin surge in 2019

In 2019, when Donald Trump voiced his hate for Bitcoin, it led to a surge in the price of the cryptocurrency.

Following Trump’s tweet, all major cryptocurrency markets experienced an uptrend, with BTC gaining over $400 in three hours after a significant downturn. The biggest winners from Trump’s bashing back then were Stellar, Cardano, and Binance Coin, which gained 8.1 percent, 4.7percent, and 8.3 percent in 24 hours, respectively.

Furthermore, according to Google Trends, U.S. searches for the term “Bitcoin” significantly increased from 41 to 100 – after Trump’s tweets in 2019.

Despite Trump’s crypto bash, the predominant sentiment within the cryptocurrency community is that his words were actually good news.

Donal Trump unknowingly made Bitcoin more popular back then as his tweet got 12,300 retweets, 41,000 likes, and 12,600 comments among his almost 62 million followers.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptopolitan.com/donald-trump-calls-bitcoin-a-scam-again/

Blockchain

DeFi Yield Farming is Brilliant Says Legendary Investor Mark Cuban

American billionaire entrepreneur and television personality Mark Cuban has been extolling the virtues of decentralized finance (DeFi) and yield farming on his personal blog.

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The billionaire owner of the Dallas Mavericks has gone big into crypto and DeFi. In a blog post titled “The Brilliance of Yield Farming, Liquidity Providing, and Valuing Crypto Projects,” he has simplified the process of liquidity provision and yield farming.

DeFi yield farming exploded onto the scene in mid-2020 when the Compound Finance protocol launched its governance token, becoming the first platform to do so.

Cuban has been bullish ever since and kicked off his appraisal of DeFi with:

DeFi Rocks

Naturally, Cuban highlighted the Layer 2 aggregator Polygon first as he is heavily invested in it. His analysis approached the protocol from a business angle, explaining what it does and why it is worth investing in.

He compared it to Amazon’s cloud services which are highly centralized and designed to increase profits for the company and its shareholders.


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“But blockchain based businesses diverge quickly from traditional software and the difference is where the brilliance of crypto based businesses like Polygon/Matic and their competitors, from BTC to ETH and even to Doge coin come in.”

Cuban added that if DeFi protocols took a centralized business path where they controlled and owned everything, they would have had to raise not just millions but potentially much more.

“Instead, they create a near zero cost token that they distribute in accordance with the tokenomics they defined to their community.”

The entrepreneur then goes on to explain decentralized exchanges, automated market makers, and how liquidity provision works. Cuban concluded that DeFi rocks because it does not focus on profits for the company:

“But their mission is not to maximize profits because in almost every crypto based organization, they are decentralized. Every token is created equal. No matter who owns it.”

Cuban’s 2021 in Crypto

Mark Cuban has made the headlines a number of times so far this year. In February, he said that the HODL ethos of Bitcoin traders helped him support the Reddit group that took a stand against the Wall Street whales.

In March, the Dallas Mavericks stated that it will accept Dogecoin payments for game tickets and merchandise, and in April, Cuban hinted at how much BTC he actually holds.

In May, Cuban went bullish for Ethereum, giving his reasons why it could eventually ‘dwarf Bitcoin.’

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Source: https://cryptopotato.com/defi-yield-farming-is-brilliant-says-legendary-investor-mark-cuban/

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Bitcoin price analysis: Bitcoin still trades around $40,000, reversal incoming? 

TL;DR Breakdown BTC traded sideways overnight. Further upside is still rejected. BTC likely to retrace to $37,000 Bitcoin price analysis is bearish for today as further upside was rejected overnight and the market moved sideways to prepare a base from which to push lower overnight. Therefore, we expect BTC/USD to retrace over the next 24 […]

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TL;DR Breakdown

  • BTC traded sideways overnight.
  • Further upside is still rejected.
  • BTC likely to retrace to $37,000

Bitcoin price analysis is bearish for today as further upside was rejected overnight and the market moved sideways to prepare a base from which to push lower overnight. Therefore, we expect BTC/USD to retrace over the next 24 hours and set another higher low around $37,000.

Bitcoin price analysis: Bitcoin still trades around $40,000, reversal incoming?  1
Cryptocurrency heat map. Source: Coin360

The overall market trades in the green today. Bitcoin has gained 2 percent, while Ethereum 4.2 percent. Polkadot is among the best performers with 15 percent gain.

Bitcoin price movement in the last 24 hours

BTC/USD traded in a range of $39,072 – $40,978, indicating a moderate amount of volatility. Trading volume has increased by 7.46 percent and totals $46 billion. Meanwhile, the total market cap trades around $749 billion, resulting in a market dominance of 43 percent.

BTC/USD 4-hour chart – BTC prepares to retrace

On the 4-hour chart, we can see the Bitcoin price action failing to move higher overnight and establishing a reversal point from which to retrace later this week.

Bitcoin price analysis: Bitcoin still trades around $40,000, reversal incoming?
BTC/USD 4-hour chart. Source: TradingView

The overall market structure has turned slightly bullish overnight after several weeks of sideways movement. Therefore, we can see that Bitcoin starts to reverse from the severe retracement seen in May, which resulted in a loss of over 50 percent overall.

Last week, the Bitcoin price action established a low at $31,000, which indicated that bears have regained momentum. However, after a lower high was set around the $38,000 mark, BTC/USD retested $35,000 support and spiked higher once again.

Bitcoin quickly reached the $40,000 mark, indicating to traders that BTC/USD looks to turn bullish again. However, both a higher high and a lower low were set over the past week, meaning that the trend direction is unclear.

If BTC/USD retraces to $37,000 mark and sets another local swing higher low, we can expect another movie higher later this week. The $42,000 mark would now serve as a resistance, meaning that once it is broken, the overall Bitcoin price action would turn even more bullish.

Bitcoin Price Analysis: Conclusion 

Bitcoin price analysis is bearish as the market could not move any higher overnight. Therefore, we expect BTC/USD to retrace towards the $37,000 mark over the next few days and establish a higher low, from which to push higher later this week.

While waiting for further Bitcoin price action development, read our guide on Cardano staking, how to cash out Bitcoin, and how to buy Bitcoin stock.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptopolitan.com/bitcoin-price-analysis-2021-06-15/

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Blockchain

Bitcoin price analysis: Bitcoin still trades around $40,000, reversal incoming? 

TL;DR Breakdown BTC traded sideways overnight. Further upside is still rejected. BTC likely to retrace to $37,000 Bitcoin price analysis is bearish for today as further upside was rejected overnight and the market moved sideways to prepare a base from which to push lower overnight. Therefore, we expect BTC/USD to retrace over the next 24 […]

Published

on

TL;DR Breakdown

  • BTC traded sideways overnight.
  • Further upside is still rejected.
  • BTC likely to retrace to $37,000

Bitcoin price analysis is bearish for today as further upside was rejected overnight and the market moved sideways to prepare a base from which to push lower overnight. Therefore, we expect BTC/USD to retrace over the next 24 hours and set another higher low around $37,000.

Bitcoin price analysis: Bitcoin still trades around $40,000, reversal incoming?  1
Cryptocurrency heat map. Source: Coin360

The overall market trades in the green today. Bitcoin has gained 2 percent, while Ethereum 4.2 percent. Polkadot is among the best performers with 15 percent gain.

Bitcoin price movement in the last 24 hours

BTC/USD traded in a range of $39,072 – $40,978, indicating a moderate amount of volatility. Trading volume has increased by 7.46 percent and totals $46 billion. Meanwhile, the total market cap trades around $749 billion, resulting in a market dominance of 43 percent.

BTC/USD 4-hour chart – BTC prepares to retrace

On the 4-hour chart, we can see the Bitcoin price action failing to move higher overnight and establishing a reversal point from which to retrace later this week.

Bitcoin price analysis: Bitcoin still trades around $40,000, reversal incoming?
BTC/USD 4-hour chart. Source: TradingView

The overall market structure has turned slightly bullish overnight after several weeks of sideways movement. Therefore, we can see that Bitcoin starts to reverse from the severe retracement seen in May, which resulted in a loss of over 50 percent overall.

Last week, the Bitcoin price action established a low at $31,000, which indicated that bears have regained momentum. However, after a lower high was set around the $38,000 mark, BTC/USD retested $35,000 support and spiked higher once again.

Bitcoin quickly reached the $40,000 mark, indicating to traders that BTC/USD looks to turn bullish again. However, both a higher high and a lower low were set over the past week, meaning that the trend direction is unclear.

If BTC/USD retraces to $37,000 mark and sets another local swing higher low, we can expect another movie higher later this week. The $42,000 mark would now serve as a resistance, meaning that once it is broken, the overall Bitcoin price action would turn even more bullish.

Bitcoin Price Analysis: Conclusion 

Bitcoin price analysis is bearish as the market could not move any higher overnight. Therefore, we expect BTC/USD to retrace towards the $37,000 mark over the next few days and establish a higher low, from which to push higher later this week.

While waiting for further Bitcoin price action development, read our guide on Cardano staking, how to cash out Bitcoin, and how to buy Bitcoin stock.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptopolitan.com/bitcoin-price-analysis-2021-06-15/

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Bware Labs Launches MVP of High Performance Decentralized Node Network

[PRESS RELEASE – Bucharest, Romania, 14th June 2021] Bware Labs, a startup developing a decentralized API platform that aligns incentives between end-users and node providers, has released the MVP, or functional prototype, of their platform to the public. Users can now set up a dedicated node endpoint with just four clicks, obtaining access to blockchain […]

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[PRESS RELEASE – Bucharest, Romania, 14th June 2021]

Bware Labs, a startup developing a decentralized API platform that aligns incentives between end-users and node providers, has released the MVP, or functional prototype, of their platform to the public. Users can now set up a dedicated node endpoint with just four clicks, obtaining access to blockchain data through RPC or WSS APIs.

As part of this release, the end-user will be able to connect to the app through a MetaMask wallet and generate dedicated endpoints allowing them to interact with Avalanche, Binance Smart Chain, or Ethereum mainnets, all in just four clicks and less than 30 seconds. Although free to use, a maximum of three endpoints (one Avalanche, one BSC and one Ethereum ) can be generated for each MetaMask wallet.

In the MVP release, nodes are provided by Bware Labs to ensure smooth user onboarding and established performance standards. Once the platform reaches maturity, Bware Labs aims to create a two-sided market of node providers and consumers, creating a decentralized alternative to Infura or Alchemy. While requests are currently limited to 25 per second, Bware boasts half the latency of equivalent free plans by competitors and offers a choice from more supported blockchains.

In order to guarantee reliability in the Bware Labs ecosystem, node providers will be asked to stake native tokens which will be susceptible to slashing, if the node underperforms. To reach the required stake, node providers will have the option to accept delegations and share reward fees with delegators, the only decentralized API platform to do so. Node users will pay the operators with a subscription model delivered through the MetaMask wallet. This realigns incentives between node operators, who are often conducting an altruistic task at no gain, with the node data users who are unwilling to host their own infrastructure.

“Running blockchain nodes is critical to ensure the security of the network, but without a proper incentive structure in place, especially in the PoW-based Ethereum, centralization occurs naturally as only major ecosystem players are able to devote resources for hosting nodes,” said Flavian Manea, Bware Labs Co-Founder and CEO.

“As an advisor of Bware Labs, I am very pleased with the progress the team is making towards releasing a fully decentralized API platform. But, more importantly, I am very eager for the Avalanche ecosystem to have this easy to use and extremely convenient option of gaining access to blockchain data. I truly believe this will streamline development efforts on various blockchains, which ultimately will lead to increased adoption.” said Nicholas Mussallem, Ava Labs Head of Product.

About Bware

Bware Labs provides an interface between Blockchain APIs, consumers, and node providers, with integrated payment options and verified reliability all embedded within our platform and protocol service. The Bware Labs team boasts a rich experience in blockchain and tech companies, including Ankr, Intel, Fitbit, Google, and Ericsson.

MVP: app.bwarelabs.com

Documentation: docs.bwarelabs.com

Plans after MVP: https://medium.com/bware-labs/from-mvp-to-public-sale-and-beyond-60cdbc5bfd29

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Source: https://cryptopotato.com/bware-labs-launches-mvp-of-high-performance-decentralized-node-network/

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