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Paddy Power Betfair researching Blockchain?

Flutter Entertainment, the parent company of high street betting behemoths Paddy Power and Betfair have posted an interesting new job recently. The analyst position job spec outlines that they’ll be investigating a range of new technologies such as AI but specifically mentions blockchain as well. With betting and gambling being one of the notable uses of cryptocurrencies pretty much since it’s inception, and provably fair being one of the USP’s of certain betting sites that use bitcoin and other cryptos, it would be interesting to see how this evolves, especially as the run a portfolio of brands including many popular online

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Flutter Entertainment, the parent company of high street betting behemoths Paddy Power and Betfair have posted an interesting new job recently. The analyst position job spec outlines that they’ll be investigating a range of new technologies such as AI but specifically mentions blockchain as well.

With betting and gambling being one of the notable uses of cryptocurrencies pretty much since it’s inception, and provably fair being one of the USP’s of certain betting sites that use bitcoin and other cryptos, it would be interesting to see how this evolves, especially as the run a portfolio of brands including many popular online casinos.

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Source: https://bitcoinsinireland.com/paddy-power-betfair-investigating-blockchain/

Blockchain

AurusGOLD returns to New to the Street

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AurusGOLD (AWG) is a gold-backed token independently minted by participants of the Aurus ecosystem. Each token represents full ownership and can be redeemed for 1 gram of 99.99% gold, sourced from LBMA-accredited refineries. Managing Director Guido van Stijn returns to New to the Street to discuss the latest developments.

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ABOUT US
Exploring the Block profiles Blockchain Technologies and Companies. Exploring the Block produces multi-part series following the goals and achievements of the companies we follow and invite our audience to track the growth and challenges these companies face. Each series provides personal look at the company through the eyes of the CEO or company executive as they discuss their goals, roots and products with our experienced team of anchors/journalists to provide our viewing audience with who, what, where, when and why about the companies you want to learn about.

New To The Street profiles public companies, advertises and markets their products and services, and provides business news. New To The Street paves the way to the latest financial issues, offering a blend of business and financial services news reporting and in-depth interviews relating to new products, economic analysis and public company profiles. New to the Street is produced by FMW Media Works Corp.

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FMW Media Corp. operates one of the longest-running U.S and International sponsored programming T.V. brands “NewToTheStreet,” and its blockchain show “Exploring The Block.” Since 2009, these brands run shows across major U.S. Television networks. These TV platforms reach over 540 million homes both in US and international markets. Developing 2-additional shows “TheBestinNY” and “The Ultimate Listing”

Source: https://exploringtheblock.com/aurusgold-returns-to-new-to-the-street/

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Blockchain

Should You Buy The Bitcoin Dip? Analysts Weigh In On Bear Market

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Should You Buy The Bitcoin Dip? Analysts Weigh In On Bear Market

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Bitcoin broke many crucial support levels and ended up trading close to $28,500, from where it began correcting losses. On the upside, the $30,800 and $31,000 resistance levels are significant for continuous correction. Failure to break resistance at the aforementioned levels could open room for more losses around the nearest support levels of $28,800 and $25,800.

Should You Buy The Bitcoin Dip? Analysts Weigh In On Bear Market
BTCUSD Chart By TradingView

At press time, Bitcoin bulls are facing rejection as the $31,700 price mark continues to drop, alongside daily losses which are now totaling 11% at the time of this report. Market sentiments are mixed and analysts have continued to weigh in on the bear market, which they already term necessary for an unmatched bullish takeover. 

On-chain indicators like the SOPR (spent output profit ratio), a signal which accesses long-term investors’ behavior is declining as less Bitcoin is being moved for extreme profits. This signal which had previously surged by 13% in December, indicating that a complete 100% upsurge could send Bitcoin to a never-before-seen price of $328,000 may not be in its most bullish state, yet investor and CTO of Glassnode Analytics reveals his readiness to buy the dip, perhaps in hopes that a correction in price is just around the corner.

Meanwhile, speculations that the Bitcoin blockchain was disrupted and Bitcoins were stolen has been making rounds on crypto-twitter. This kind of Bitcoin theft known as “double spending’ happens when a copy of the currency transaction is sent by the Bitcoin thief to prove legitimacy or the entire transaction is cleared altogether. These were quickly debunked by analysts who noted that a double-spending did not trigger the bear market, adding that there was no double-spending at all. 

Furthermore, the historic pattern of Bitcoin losing 80% of its value after an all-time-high has been causing FOMO in the community. However, it is important to note that the 80% downward price correction usually happens after a 20x upsurge in current price.

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Should Bitcoin follow this pattern, a 77.86% price increase (over $50,000) must be recorded before the major price decline happens. Overall, analysts hint that buying the dip could potentially pay off, seeing as whales are also awaiting a correction in the near term. Alternatively, others look to altcoins for shelter. Although altcoins attained gains from last weekend, these gains were not sustained over the week.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/should-you-buy-the-bitcoin-dip-analysts-weigh-in-on-bear-market/

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Why the Asian session holds the key to Bitcoin’s price drop

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Bitcoin’s price seemed to have recuperated as it bounced off the yearly open at $28,956. However, on-chain indicators are suggesting that this expansion was a fluke. In fact, buyers with no real volume or momentum are trying to push the price higher on the charts.

The first sign of resistance weakened these buyers’ already weak momentum, with the same contributing to a continuation of the downtrend. More of these sell-offs might be on their way due to two reasons,

  1. On-chain indicators
  2. The start of the Asian session

Bitcoin’s On-chain indicators

As mentioned in yesterday’s article, Bitcoin was due for a correction and retest of the yearly open. Now, on-chain indicators, more specifically, CryptoQuant’s Coinbase Premium indicator, is pointing to more drops for the market’s pioneer cryptocurrency.

“Coinbase premium” is an on-chain metric that is the ratio of Coinbase’s BTC/USD price and Binance’s BTC/USDT price. This ratio helps determine if BTC is trading at a premium or not.

Source: CryptoQuant

A high premium highlights high spot inflows and suggests that investors want to buy, thus, it is a bullish sign. At press time, despite bouncing off the yearly low, this premium hadn’t increased and was still in the negative, hinting that the sellers were still in control of the market and that the drop wasn’t done yet.

CryptoQuant CEO Ki Young Ju commented on this premium too, stating,

“Was always above +$50 when BTC was about to break 20k, 30k, and 40k, meaning there were huge spot inflows from high net-worth individuals and institutional investors in Coinbase.”

Bitcoin: Technical point of view

Source: BTCUSDT on TradingView

As mentioned above, the first sight of resistance was the middle-line of the parallel channel. A rejection here sets up the price for another tap of the yearly open at $28,956. This further supported the on-chain metric’s bearish view.

A bearish case will be the breach of the immediate support at $28,956, which would open up the price to drops to $20,000 in an extremely bearish scenario.

Other supports that can prevent the price from dropping to $20,000 include the liquidity pocket ranging from $29,800 to $27,600. Following this range is the 50% Fibonacci level at $25,850, a level that seems to be the major area of support and the next destination for Bitcoin’s drop.

The Asian session

Asian sessions ranging from 23:00 GMT to 8:00 GMT is when traders in the east start trading. Hence, high volatility is usually experienced during this time. Moreover, the Asian session is known for being extremely bearish and most drops occur during this session.

In light of the fact that yesterday’s drop came accompanied the U.S session, Bitcoin can be expected to drop more as the Asian session is in full swing, further supporting the bearish outlook on the charts.

Source: https://ambcrypto.com/why-the-asian-session-holds-the-key-to-bitcoins-price-drop

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