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Bitcoin News Summary – June 15, 2020

The post Bitcoin News Summary – June 15, 2020 appeared first on 99 Bitcoins.

 Lichtenstein’s Bank Frick is using Circle exchange’s USDC stablecoin instead of SWIFT for transferring …

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Lichtenstein’s Bank Frick is using Circle exchange’s USDC stablecoin instead of SWIFT for transferring money internationally. Bank Frick is a leader in integrating crypto services, and claims USDC is significantly faster than SWIFT. If this trend continues as expected, SWIFT technology, first implemented in the 1970’s, could soon be replaced.

Soft drink vending machines across Australia and New Zealand will now accept Bitcoin, as part of a collaboration between Coca Cola Amatil and crypto services company, Centrapay. To use the new payment methods, the Sylo Smart Wallet app is required. The new move is cited as a way to make real-world payments in a more hygienic, hands-off way.

The bestselling book about the Winkelvoss twins and their investment into Bitcoin, “Bitcoin Billionaires”, will be made into a feature film. The book is a follow up to “The Social Network” and it picks up after the twins’ exit from Facebook. The movie will likely lead to a lot of positive exposure for Bitcoin.

A new type of Exchange-Traded Product, called the Bitcoin Exchange Traded Crypto, will be launching on the Deutsche Borse trading market. Clients will be able to gain exposure to Bitcoin’s price via a regulated security with the added ability to convert their holdings into real Bitcoin.

Bakkt, the ICE-owned Bitcoin futures trading platform, has teamed up with Mike Novogratz’s Galaxy Digital. The joint project will aim to provide both Bitcoin trading and custody services for institutional-grade investors.

Before we conclude, this week’s “Bitcoin quick question” is can I make money with an airdrop?

An airdrop is a free distribution of cryptocurrencies, and it is mainly used as a marketing maneuver by projects who wish to grow their community and coin holders. 

Usually, in order to participate in an airdrop, users need to register by providing personal details, or are requested to hold a different type of cryptocurrency such as Ethereum in their wallet at a specific time – thereby using the coin’s reputation to promote the airdrop project.

While it seems to be “free money”, nobody can guarantee that the freely distributed coins will have value, or will even be listed for trading on a cryptocurrency exchange. Most importantly however, airdrops have hidden risks such as privacy leaks, and volatility exposure to the cryptocurrency users must hold in order to participate in the airdrop itself.

Therefore it is important to assess and manage the risks properly: if you are seeking short-term gains, consider what happens if the value of the base cryptocurrency drops further than the value of the airdropped token. And if you are seeking long-term gains make sure you have properly researched the project.

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That’s what’s happened this week in Bitcoin. See you next week.

Source: https://99bitcoins.com/bitcoin-news-summary-june-15-2020/

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Cardano must remain above this level to revive from current lows or else…

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Cardano, following the lead of Bitcoin and Ethereum was falling today. In fact, in some ways, the third-generation coin has been following the second-generation coin. ADA’s price movement has been imitating ETH’s price action. It is important to consider what this means for the investors. We know they are hit by losses but how bad is that hit? Can they recover from it?

Cardano following Ethereum?

The coin has seen a consistent price fall in the same 5 day period as Ethereum did, falling by 15.08% at press time. At $2.12, things do not look good for ADA holders.

Cardano’s 15.08% drop | Source: TradingView – AMBCrypto

Those who bought ADA for around $2.41, are presently struggling to sell their holdings. As mentioned due to the price falling to $2.14 these people are dealing in losses. At the moment they represent 67% of all ADA investors.

The addresses in profits did not suffer much, however, but those at break-even did. These addresses went into losses and the total number of addresses in loss rose by 4%.

4% Cardano addresses move into losses | Source: Intotheblock – AMBCrypto

These losses further led to the average balance on every Cardano holders’ address dropping from $40k to $37k.

Cardano addresses’ average balance falls | Source: Intotheblock – AMBCrypto

So are there any hopes of recovery?

Hopes of recovery are alive but for that Cardano will have to maintain its strength somehow. Already its correlation to Bitcoin has dropped to 0.71. 

But that hasn’t stopped bullish investors from trying to gain as much profit as possible. The market books show a 16 million ADA worth $34.2 million higher demand for buying even during such a market.

Cardano continues to be bought | Source: Intotheblock – AMBCrypto

At present, $2 is the immediate and critical support. To minimize losses Cardano must remain above it as a fall from it could lead to further downfall.

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Source: https://ambcrypto.com/cardano-must-remain-above-this-level-to-revive-from-current-lows-or-else

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Webcams Site, BongaCams, Becomes Next Major Player to Accept Dogecoin

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The success and popularity of the cryptocurrency asset, Dogecoin, continues to trend upward as BongaCams has just become the next on a growing list of market-leading companies announcing their adoption of the digital currency as a payment option.  Dogecoin, now the world’s 8th largest digital asset, is surging once again and continues to enjoy support from investors and celebrities alike, including Tesla CEO Elon Musk, who has tweeted favorable comments about the currency on multiple occasions, even calling Dogecoin the “future currency of Earth.”

BongaCams, the biggest webcam site on the web, and recipient of multiple industry awards, has formally announced that they will be the next major name to begin accepting Dogecoin.  BongaCams has built a reputation for being closely aligned to the needs of their customers and the company has made extensive efforts to provide an accessibility experience that is fast, easy, and comfortable.  When it came to offering payment options that customers wanted BongaCams couldn’t ignore all that DogeCoin had to offer in terms of fast and anonymous payment options for their customers, and broad market acceptance.

And what’s not to love about Dogecoin?  After soaring 15,000% in value and reaching a market cap of $88 billion, the cryptocurrency has built one of the largest and most active communities in the cryptocurrency world and is now considered a great alternative for payment options.  Dogecoin’s popularity along with the abundant praise from research analysts who expect the ascent to continue have helped Dogecoin succeed where other cryptocurrency coins have struggled.

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Source: https://www.livebitcoinnews.com/webcams-site-bongacams-becomes-next-major-player-to-accept-dogecoin/>

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XRP, EOS, Chainlink Price Analysis: 20 September

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Broader crypto market sentiments remained quite bearish over the last 24 hours. The likes of XRP, EOS and Chainlink registered substantial losses.

XRP was trading below a dollar’s mark after over a month’s time. EOS lost 15.4% of its valuation and inched closer to its immediate support level. Lastly, Chainlink declined by 13.5% and was oversold after a gap of multiple months in between. 

XRP

XRP, EOS and Chainlink Price Analysis: 20 September

XRP/USD, TradingView

XRP depreciated 14.6% over the last 24 hours and was trading at $0.90. Immediate support level for the coin was at $0.77. 

Technical outlook suggested negative price action. MACD displayed red bars on the histograms. The Relative Strength Index was near the 20-mark indicating that XRP was oversold. Bollinger Bands diverged, suggesting that price volatility might be on the rise.

Conversely, if XRP’s buying pressure finds its way back, then the first resistance point stands at $1.06. Other price ceilings awaited the alt at $1.20 and $1.31 respectively. 

EOS

XRP, EOS and Chainlink Price Analysis: 20 September

EOS/USD, TradingView

EOS recorded a 15.4% fall over the last 24 hours and was trading at $4.26. The token had last traded around this price level over a month ago. A dip below the current price level could push EOS to trade at $3.90 support line. 

On the four-hour chart, the price of EOS was below the 20-SMA line. This reading meant that momentum belonged with the sellers. The Relative Strength Index was positioned inside the oversold territory.

Chaikin Money Flow was below the half-line as capital inflows also declined. MACD displayed red bars on the histogram. On the flipside, the first resistance mark for the coin was at $4.54. Additional price ceilings were at $5.10 and $5.48. 

Chainlink (LINK)

XRP, EOS and Chainlink Price Analysis: 20 September

LINK/USD, TradingView

Chainlink was priced at $24.07 after it plunged by 13.5% over the last 24 hours. Immediate support line was at $22.50, a price level it last touched on 11 August. The price of LINK was seen below the four-hour 20-SMA, indicating that price momentum belonged to the sellers. 

The Relative Strength Index was on a multi-month low. It was parked near the 20-mark signifying an oversold state. Awesome Oscillator displayed red signal bars. MACD flashed red bars on the histogram. 

In the event of a price reversal, LINK’s immediate resistance was at $27.78. Other resistance lines awaited LINK at $32.37 and $35.83.

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Source: https://ambcrypto.com/xrp-eos-chainlink-price-analysis-20-september

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