A four-day winning streak brought the Bitcoin (BTC) prices closer to testing its 50-day exponential moving average (~$35,115) as resistance. The wave, which was instrumental in strengthening Bitcoin's bullish bias across 2020 as support, flipped to become a resistance during the May 2021 sell-off. In doing so, it capped the cryptocurrency from extending its upside rebound moves many times. For instance, Bitcoin's drop from $56,900 to $30,000 in mid-May prompted bulls to buy the dip. As a result, the cryptocurrency shot back above $40,000 but found its bullish momentum exhausting right near the 50-day EMA. The scenario repeated multiple times …

Jeffrey Gundlach, the CEO of investment management firm DoubleLine, implied that Bitcoin could see more favorable activity in the long term than that of the U.S. dollar. In a Wednesday interview on CNBC’s Halftime Report, Gundlach said he believed people would be able to purchase Bitcoin (BTC) for under $23,000 soon given the likelihood of the crypto asset forming a head-and-shoulders trading pattern. He was seemingly referring to a "head" when the BTC price peaked at more than $64,000 on April 13 and the shoulders as the early January surge to more than $40,000 and the recent drop to the …

Amid a massive spike of the United States’ Consumer Price Index (CPI), the cryptocurrency community has been divided on whether Bitcoin (BTC) is really a hedge to inflation. The CPI, an indicator measuring the average change in prices that consumers pay for a basket of goods and services, saw its largest one-month increase in June over the past 13 years, Business Insider reported Tuesday. The inflation surge reportedly started in March, when CPI rose by 2.6%, followed by subsequent increases in April of 4.2% and eventually 5.4% in June. But despite the recent growth in CPI-measured inflation, Bitcoin has allegedly …

Bitcoin (BTC) prices steadied on Tuesday after closing the previous session at a 3.41% loss, supported by a weakening United States dollar sentiment ahead of a key U.S. inflation report due later on Tuesday. The spot BTC/USD exchange rate rose by a modest 1.31% to $33,096 after bottoming out on Monday at $32,996 on Coinbase. The CME Bitcoin Futures was up 1.64% from its previous session’s low of $32,600. Meanwhile, the USD index was down about 0.03% ahead of the London opening bell. The index represents the greenback’s strength against a basket of top foreign currencies. Inflation data awaited Bitcoin …

The world runs on consumer spending and consumer saving. It is everyday people who actually power the most important parts of the global economy and the global financial system. For consumers, this system runs through their retail bank. It is where most people save, spend and pay their taxes. This is the battleground for the coming fight: the battle for global consumer deposits. Make no mistake, this will be the fight of the century. It will change the shape of the world more fundamentally than the internet has already. The internet was about information. DeFi is about capital — and …

All eyes are on Bitcoin (BTC), with the largest cryptocurrency shooting up past $40,000 on Monday. Unsurprisingly, the price increase happened shortly after Tesla CEO Elon Musk tweeted that the electric-car company would potentially accept BTC payments once more miners confirm green energy initiatives. Yet, while Musk’s tweet may have driven the price of Bitcoin up, some industry experts believe that Bitcoin is not a cryptocurrency that should be leveraged. For example, during an exclusive interview with Cointelegraph at Bitcoin 2021 in Miami, Caitlin Long, founder and CEO of Avanti Financial, said that unlike other cryptocurrencies, solvency matters more than …

The cryptocurrency community has donated over $2.2 million to help India battle a resurgence in COVID-19 cases that has gripped the South Asian country over the past month. Polygon co-founder Sandeep Nailwal established the COVID-19 relief fund to get more food, vaccines and medicine to those in need. On Saturday, Nailwal called on his Twitter followers to chip in by donating tokens to a multi-sig ERC-20 address. “Can’t take this sitting down anymore, I am going to run a Covid relief campaign in lieu of what’s going on in India,” Nailwal said. “Need help from the Global crypto community.” Can't …

Venture capitalist Tim Draper is continuing his bullish talk on Bitcoin in some investment tips for those new to the crypto space. Speaking at the Collision web summit on Thursday, Draper said Bitcoin (BTC) could incentivize governments around the world to compete for the attention and devotion — and seemingly, money — of its citizens. According to the venture capitalist, crypto levels the playing field, so lawmakers will have to choose if they want to make people’s lives better, otherwise they will simply move to somewhere that will. “People are already realizing that they would rather have Bitcoin than fiat …

A decentralized sharing economy protocol that’s home to a vibrant eports platform has announced that it is planning to roll out DeFi and NFT functionality. The flagship DApp on TimeCoinProtocol is eSportStars — a platform that unites professional players with fans. A plethora of top games are supported… including Fortnite, Call of Duty Mobile, and Counter-Strike: Global Offensive. Through eSportStars, enthusiasts can participate in tournaments for all of these games — and the alpha version of the DApp has already attracted 10,000 users. A flurry of new features will be added in the coming months to make the platform a …

Sometimes, “stablecoins” and variants such as “algorithmic stablecoins” function like historical names, as they refer to projects that call themselves stablecoins, such as Basis Cash, Elastic Set Dollar, Frax and their clones. The word "stablecoin" can be used as a logical description for “a cryptocurrency designed to have low price volatility” and has “stores of value or units of account,” or “a new type of cryptocurrency that often have their value pegged to another asset… designed to tackle the inherent volatility seen in cryptocurrency prices,” or a currency that can “act as a medium of monetary exchange and a mode …

In an exclusive interview with Cointelegraph, Pomp reaffirmed the Bitcoin price prediction he made back in 2019. “It’s going to be pretty aggressive. I am pretty confident in Bitcoin to $100K by the end of 2021." Together with favorable macroeconomic conditions, Pompliano sees the after-halving effect as one of the main catalysts that could drive Bitcoin toward that potential target. Pomp believes that Bitcoin’s diminishing supply coupled with increased demand from institutional investors will drive Bitcoin’s price to new highs. Even though there are around 18.5 million Bitcoin currently in circulation, he acknowledged that this number does not take into …

Gary Cohn, the former president of Goldman Sachs and former chief economic adviser to Donald Trump, believes that Bitcoin may not hold long-term prospects for investors. In an interview with Bloomberg released today, Cohn said that the crypto asset “lacks some of the basic integrity of a real market” due to its lack of transparency. He said that investors might question a system “that does not have an audit trail.” “For all the reasons it’s a strong developing asset class, it may fail,” said Cohn regarding Bitcoin. “Part of the integrity of a system is knowing who owns it and …