Connect with us
[crypto-donation-box]

Blockchain

Bitcoin Won’t Crash Below $28,000 According To Analyst

Bitcoin won’t crash below $28,000 according to one on-chain analyst, despite the strong downside correction on the market that was seen earlier this week which is threatening to become a bear-trend as the coin has a hard time moving past the technical resistances as we are reading more in today’s Bitcoin news. Many traders agreed […]

Republished by Plato

Published

on

ADVERTISEMENT

Bitcoin won’t crash below $28,000 according to one on-chain analyst, despite the strong downside correction on the market that was seen earlier this week which is threatening to become a bear-trend as the coin has a hard time moving past the technical resistances as we are reading more in today’s Bitcoin news.

Many traders agreed that the pair will continue lower and will form a head and shoulders pattern which is a bearish reversal structure. The pattern’s technical downside target is below $20,000 which is a move that will take BTC down by more than 50% from the record high of $42,000 that was established back at the beginning of January. Other bearish indicators come from the macroeconomic landscape and the US growth prospects challenged opinions about a longer US dollar bear market. After finishing 2020 down by about 6% the dollar recovered by 1.2% in the first week of this year which forced analysts to rethink their long-term bearish bias.

btc/usd
Bitcoin struggles to move past $35,000. Source BTCUSD on TradingView.com

The bearish bias stopped the BTC bull run midway as the traders decided to secure their profits at the local tops but now a stronger price correction is witnessing limited over-the-counter deals and low stablecoin inflow into exchanges which points to a bearish continuation in the market. However, one analyst believes that this is not the case and that Bitcoin won’t crash below $28,000. Ki-Young Ju who is the chief executive officer at CryptoQuant in South Korea asserted that the BTC/USD pair will not fall below $28,000. He said:

 “There are many institutional investors who bought BTC at the 30-32k level. The Coinbase outflow on Jan 2nd was a three-year high. Speculative guess, but if these guys are behind this bull-run, they’ll protect the 30k level. Even if we have a dip, it won’t go down below 28k.”

btc trade setup
Bitcoin trade setup, as presented by Rekt Capital. Source BTCUSD on TradingView.com

More seasoned analysts supported a potential BTC price pullback as the cryptocurrency traded 16 percent higher from the local lows of $30,000 and another chartist even said that the BTC/USD exchange rate will not slip below $32,000 based on the technical support which lingers at the same level. The analyst presented the pair in a Symmetric Triangle pattern which confirms two reactive tops on a downward sloping trendline and two lows on the upward slowing trendline:

ADVERTISEMENT

 “Bitcoin isn’t going any lower than $32,000 as long as the uptrend line continues to hold.”

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/bitcoin-news/bitcoin-wont-crash-below-28000-according-to-analyst/

Blockchain

ConsenSys-Backed Virtue Poker to be Launched on Superstarter, SuperFarm’s Launchpad

Republished by Plato

Published

on

Virtue Poker, the decentralized poker platform built on top of the Ethereum blockchain, will hold an initial DEX offering (IDO) on SuperStarter. The announcement follows a successful round in which VP closed funding worth $5 million.

Virtue Poker to Hold an IDO

Founded in 2016 within ConsenSys, Virtue Poker is an Ethereum-based decentralized poker platform enabling peer-to-peer networking aiming to operate as an “online poker site that’s safe, honest, and fund.”

After a few years of development, the project announced the upcoming IDO in a press release shared with CryptoPotato earlier. The statement reads that VP has partnered with SuperFarm’s recently released launchpad SuperStarter.

Apart from handling the IDO procedures, SuperFarm will be involved in other initiatives following the event, such as integrating non-fungible tokens into Virtue Poker.

“We are excited to be helping spread NFT adoption to new types of ecosystems and use cases. Virtue Poker makes for an excellent partner for our recently introduced SuperStarter platform, showcasing its enormous benefits to the SuperFam community and the high caliber of projects wishing to integrate NFTs in their stack.” – commented Elliot Wainmann – Founder of SuperFarm.

According to the announcement, VP will put a small portion of its native coin (VPP) for sale on SuperStarter. Future token holders can stake their assets to run Justice Nodes and earn 50% of the platform’s fees.

Additionally, they will access marketing initiatives, save on fees, and “shape the development of the Virtue Poker platform.”

Ryan Gittleson, Founder and CEO of VP, noted that his project was built on Ethereum because the latter enables the creation of a “provably fair and easy-to-access poker platform,” which could be “revolutionary for the multi-billion-dollar online poker industry.”

Securing $5M Funding

Before the IDO announcement, Virtue Poker completed a strategic investment round of $5 million in April 2021. Apart from Consensys, other prominent names that took part included Pantera Capital and DFG Group.

Furthermore, the statement highlighted that the Poker Hall of Famer Phil Ivey is a stakeholder and a spokesperson for the project.

Virtue Poker also touched upon the license it received from the Malta Gaming Authority. After working together for “nearly two years in establishing a regulatory framework,” VP became the “first and only blockchain-based company” to receive such a license from MGA.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/consensys-backed-virtue-poker-to-be-launched-on-superstarter-superfarms-launchpad/

Continue Reading

Blockchain

MoneyGram to Enable Users to Buy Bitcoin and Withdraw it From Birck-and-Mortar Locations

Republished by Plato

Published

on

In yet another move of further Bitcoin adoption, the American money transfer giant, MoneyGram, will allow users to buy and withdraw bitcoins from various brick-and-mortar locations.

  • Cryptocurrencies continue to occupy the center stage of the fintech industry following a massive rally in both prices and popularity.
  • Plenty of blue-chip and publicly traded companies have begun accepting bitcoins for their services, and some have even added it to their balance sheet, Tesla and MicroStrategy included.
  • Now, it appears that the latest company to jump on the bandwagon with a move towards serious mass adoption is MoneyGram.
  • The money transfer mogul has partnered up with the cryptocurrency exchange Coinme.
  • The fruit of this collaboration is a feature that allows people to buy bitcoin and withdraw it from brick-and-mortar locations within the US.
  • According to a CNBC report, in the coming weeks, existing and new Coinme users will be able to buy crypto with cash and withdraw it from MoneyGram’s conventional locations.
  • Speaking on the matter was Alex Holmes, MoneyGram’s CEO and Chairman, who said:

This innovative partnership opens our business to an entirely new customer segment as we are the first to pioneer a crypto-to-cash model by building a bridge with Coinme to connect bitcoin to local fiat currency.

  • The move comes soon after PayPal made its foray into the market, allowing millions of merchants to accept crypto for payments.
SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/moneygram-to-enable-users-to-buy-bitcoin-and-withdraw-it-from-birck-and-mortar-locations/

Continue Reading

Blockchain

Craig Wright Allowed to Serve 16 Bitcoin Developers Over $4B of Stolen BTC

Republished by Plato

Published

on

Craig Wright’s legal attempts to sue a dozen developers working on the networks of Bitcoin, Bitcoin Cash, Bitcoin Cash ABC, and Bitcoin SV have been approved. By tapping a law firm called ONTIER, the self-proclaimed Satoshi Nakamoto will go after the developers to make them recover over $4 billion of BTC supposedly stolen from his computer last year.

CSW Granted Permission to Go After Bitcoin Developers

CryptoPotato reported in late February when Wright and ONTIER announced plans to pursue legal action against the developers of Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), and Bitcoin Cash ABC (BCH ABC).

The firm acted on behalf of Tulip Trading Limited (TTL) – a Seychelles-based entity with Wright being the primary beneficial owner. In the statement, both parties claimed that Wright’s computer was hacked in 2020, and the perpetrators somehow stole his private keys to two addresses, which held over $4 billion in bitcoin.

Consequently, the law firm requested that the developers “enable TTL to regain access to and control of its bitcoins on the grounds that they owe Bitcoin owners both tortious and fiduciary duties under English law.”

Although their claims seemed a bit controversial, to say the least, the firm has been allowed to go forward and serve the developers, according to a statement made by ONTIER on May 12th.


ADVERTISEMENT

It reads that the firm has “commenced the process of serving legal proceedings on 16 Bitcoin developers.” The company was granted permission to serve them out of the jurisdiction by the Business and Property Courts of the High Court in London after 145-page application submission.

The statement highlighted once again that “Dr. Wright is the inventor of Bitcoin” and described TTL as the real victim in this case.

“Tulip Trading is, purely and simply, a victim of theft. The hacking was first reported to the police in February last year. TTL has not been granted permission to seek recovery of its access to and control of its digital assets from those in a position to remedy its loss. The fact that someone has stolen TTL’s digitally-held, encrypted private Bitcoin keys does not prevent developers from deploying code to enable the rightful owner to regain control of its bitcoin.”

To Help the Masses

As with the first statement in February, ONTIER and Wright asserted that if this case succeeds, it could help numerous others victims that have been hacked in the past.

“In what may prove to be a huge relief to many, a ruling in Tulip Trading’s favor would have considerable implications for those who have lost access to their Bitcoin or had coins stolen.”

This is far from being Wright’s first controversial legal endeavor related to the cryptocurrency industry. After claiming, without conclusive evidence, though, that he is indeed Satoshi Nakamoto, his lawyers recently warned two bitcoin-related websites to remove the asset’s whitepaper as he supposedly owns legal rights to the document and the Bitcoin name.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/craig-wright-allowed-to-serve-16-bitcoin-developers-over-4b-of-stolen-btc/

Continue Reading
Blockchain5 days ago

Crypto Market Cap Added $300B in 7 Days as Altcoins Explode: The Weekly Recap

Blockchain4 days ago

Ray Dalio’s Bridgewater CFO leaves to work on Bitcoin full-time

Blockchain4 days ago

Ethereum price closes in on $4K as Shiba Inu (SHIB) steals Dogecoin’s thunder

Blockchain4 days ago

CFO of World’s Largest Hedge Fund Joins Institutional Bitcoin Firm NYDIG

Blockchain4 days ago

Ethereum (ETH) Hits $3800 ATH As Coinbase Premium Shoots With Institutional Interest

Blockchain4 days ago

Why Andre Cronje Believes DOGE Is Good For Crypto

Blockchain4 days ago

Analyst who predicted ETH to reach mid-$3K now says $10K the next destination

Blockchain4 days ago

Crypto Banter Will Give Away Over $500K To 10 Eligible Community Members

Blockchain4 days ago

Legendary Pelé NFT Set to Drop on Ethernity May 8

Blockchain4 days ago

JOSÉ FONTE AND EDER BECOME THE FIRST FOOTBALLERS IN THE WORLD TO LAUNCH NFTs

Blockchain4 days ago

GBTC discount presents a unique challenge for Grayscale and investors

Blockchain4 days ago

XRP, Dogecoin, Cardano Price analysis: 08 May

Blockchain3 days ago

Dogecoin Plummets 30% From Highs Following Elon Musk’s SNL Appearance 

Blockchain3 days ago

Dogecoin dumps following mention from Elon Musk on Saturday Night Live

Blockchain5 days ago

Bridgewater Associates CFO heads to Bitcoin-focused firm

Blockchain4 days ago

What Edward Snowden Thinks “Dragon Level” Wealth Will Do To Bitcoin

Blockchain5 days ago

Crypto staking platform provider Moonstake adds support for IOST

Blockchain4 days ago

Bank of England Governor Andrew Bailey is Giving Crypto a Thumbs Down — Here’s Why

Blockchain5 days ago

Crypto.com unveils EVM blockchain functionality and related fund

Blockchain4 days ago

BSCTrades Introduces Limit Order Tool and Token Launch Snipper

Trending