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Bitcoin News Roundup for March 6, 2020 [Updated Mar 6, 2020 at 17:00 UTC] [coindesk.com]
Price Analysis Mar 6: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK [cointelegraph.com]
Roughly 42% of the total Bitcoin supply has not moved in the past two years. This shows that the investors are holding on to their Bitcoin as they expect the price to rally further. Lesser quantity of Bitcoin in circulation increases scarcity and with the upcoming halving, the supply is only going to decrease further, which could boost prices.
Bitcoin’s $9,000 Price Stays Steady as Sentiment Stays Positive [coindesk.com]
After sharp gains in price Thursday, bitcoin (BTC) has been trading steadily in a range between $9,000 and $9,200. For the past 24 hours, bitcoin’s price change has been minimal, down half a percent as of 18:00 UTC (1 p.m. ET).
Traders see bitcoin’s jump back into the $9,000 range as another sign bitcoin is trending upward in 2020 while traditional markets stumble. Year to date, bitcoin is up over 26 percent while the S&P 500 stock index is down 9 percent. Cryptocurrency sentiment appears bullish as prices remain above significant moving averages.
Bitcoin’s recent decline from its recent highs of $9,200 has done some damage to its market structure, as one prominent cryptocurrency analyst is now noting that he is watching for BTC to confirm a potentially bearish “tweezer top” formation that it has been forming on its daily chart.
Big Cheds, a popular cryptocurrency analyst on Twitter, spoke about this possibility in a recent tweet while referencing a chart showing the emerging formation.
Coronavirus Uncertainty Creates Short-Term Trading Opportunities [bitcoinmarketjournal.com]
The first Friday of every month has been a day of celebration for the last few years, when investors get together to talk about how great the economy is and analyze exactly how the numbers coming from the Beuru of Labor Statistics can be interpreted in the most bullish way possible. That won’t be the case today.
French Commerce Court Classifies Bitcoin as Currency in Recent Trial [cryptoglobe.com]
According to a report by French news outlet Les Echos on Mar. 5, the Commercial Court of Nanterre likened bitcoin to fiat money in a Feb. 26 ruling. The court classified bitcoin as a fungible interchangeable asset that is not individualized, putting the crypto-asset in the same category as regular fiat.
HERE ARE THE 7 MISTAKES MADE BY NEW BITCOIN TRADERS [bitcoinist.com]
- Entering a trade without a plan in place could get you liquidated.
- Don’t FOMO.
- Don’t trade using too much leverage, don’t trade what you can’t afford to lose.
- Don’t let fear or greed cause you to make bad decisions
- Watching the market 24/7 will make you stressed out, and it won’t make you any richer.
- Be Patient. “The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffett
- Trade with the trend, not against it.
This week has been somewhat positive for the cryptocurrency community. Starting with Bitcoin’s price, which began trading at $8,600 but, since then, it has risen to the current stance of above $9,000.
Following its increase, Bitcoin is starting to escape the correlation it recently demonstrated with the traditional financial world markets.
Bitcoin Gold Whale Allegedly Controls Half the BTG Supply [bitcoin.com]
According to a recent study, bitcoin gold (BTG) market prices are being manipulated by a single whale who holds a significant portion of the bitcoin gold in circulation. The Bitcoin Gold network was recently hit with a 51% attack that caused two blockchain reorganizations. The team of BTG developers introduced a new soft fork concept called a “Cross-Chain Block Notarization Protocol” (CCBN) in order to thwart any 51% attacks going forward.
Ripple Partner MoneyGram Turns to Amazon and Google to Power Faster Payments [dailyhodl.com]
“MoneyGram is integrating with the leader in cloud-based applications, AWS, to bring scale to the company’s transaction processing engine. Additionally, MoneyGram is using Google Cloud as its data and analytics engine to better understand customer behavior and deliver a more personalized experience.”
Ethereum, XRP, and Litecoin Seem Ready for Lift-Off [cryptobriefing.com]
Following a steep downturn in the crypto market, Ethereum, XRP, and Litecoin appear to be regaining some of the losses incurred over the past month. Different technical indexes and on-chain metrics project that a bullish impulse is underway.
In a bid to boost its mainstream appeal, distributed ledger technology-based (DLT) web browser, Brave has introduced, what it calls, a new form fingerprinting protection that will not only provide the strongest fingerprinting protections of any popular browser but also ensure that it doesn’t bother users by popping on their screen.
Per the official announcement, Brave claims that its new type of fingerprinting defense will be “uniquely effective.” The add-on essentially makes use of a privacy-through-randomization algorithmic approach that has been studied by various esteemed computer scientists. Notably, this is only the first time that those approaches are being implemented in a mainstream browser.
Top Social Media Platforms are Less Favored Among Tech Users [nulltx.com]
A lot of companies rely on public perception to remain profitable and valued highly on stock exchanges. A recent survey shows that social media platforms are losing clout pretty quickly, for fairly obvious reasons.
The recent survey conducted by The Verge paints a very interesting picture.
Telegram’s GRAM sale found politicians, billionaires per new documents [coingeek.com]
As the U.S. Securities and Exchange Commission (SEC) and Telegram continue their fight over whether or not Telegram offered unregistered securities with its GRAM cryptocurrency, new information is being brought to light on an almost constant basis. The latest discovery unveils part of the group that helped support the billion-dollar sale, and shows that, from politicians to billionaires, there was no shortage of interest in supporting Telegram as it prepared to introduce the Telegram Open Network (TON).
Verizon Boosts Security Portfolio With Blockchain Technology [cointelegraph.com]
A Verizon study entitled “Verizon’s 2019 Data Breach Investigations Report,” showed that 29 percent of the breaches investigated involved the use of stolen credentials.
On the other hand, the Verizon Machine State Integrity will obtain operational data from fully decentralized environments, to offer a broader picture of potential security issues.
The system continually monitors a structure of machines composed of servers, routers, gateways, among others, to create a verifiable chain of events based on the state of the machine, instead of just logs.
More news and community @Publish0x
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