Cryptocurrency News Roundup for Sept 3, 2020

Cryptocurrency News Roundup for Sept 3, 2020
фото показано с : beincrypto.com

2020-9-4 00:00

The Bitcoin price dropped more than $400 early on Thursday, 3 Sep, triggering alarm among the bulls who were already struggling against a two-day sell-off.

The steep drop was somewhat expected, though, considering that there was an inflow of more than 90,000 BTC from whales to some of the largest crypto exchanges just a day prior.

Data from blockchain analytics platform Chainalysis suggests that it was the highest single-day rise in more than a month, thus giving the impression that many traders were keen on selling at near $12,000.

BeInCrypto technical analyst Valdrin Tahiri delved into the possible causes that may have triggered today’s sharp drop of the BTC/USD pair (along with the possibility of further price drops). Continue reading for more on that and other big stories from the day in BeInCrypto’s cryptocurrency news roundup for Sept 3.

What Caused Bitcoin to Drop so Quickly? [Analysis]

On Sept 2, the price created a bearish engulfing candlestick that took the price back to the support area around $11,200. The decline took place with significant volume, increasing the legitimacy of the move. If the price were to decrease from this support area, the next would be found near $10,800.

This area contains multiple low wicks from the beginning of August. On the daily time-frame, technical indicators do not show signs of a reversal yet.

The bitcoin price has returned to the $11,200 support area. Technical indicators are neutral. The price is likely to still be in wave 4 of a five-wave impulsive formation.

Read the Full Analysis

Compound (COMP) Drops Sharply After Reaching All-Time High

The COMP price has been increasing at an accelerated rate since Aug 25 when it reached a low of $161. The rally continued until Sept 1, where COMP reached an all-time high of $272.61.

The price dropped sharply the next day and is now nearing the minor support area at $205. If this level fails, the next support would likely be found at $160. Technical indicators provide a mixed outlook.

Read the Full Analysis

Dutch NGO is Sending Bitcoin Aid to Protestors in Belarus

A Netherlands-based NGO is reportedly using bitcoin to support protesters in Belarus in their struggle against the controversial Belarusian government. Yaroslav Likhachevsky and Alexey Kuzmenkov, the tech entrepreneurs who founded the NGO, are themselves of Belarusian origin.

The duo is part of a group that fears that the Aug 9 presidential elections were rigged. Newly elected leader Alexander Lukashenko appears to be suppressing any voice of dissent using police brutality.

Read the Full Article

Hedge Asset Prices Don’t Predict Inflation, Says BOE Analyst

Gertjan Vlieghe, an analyst at the Bank of England, has taken a contradictory stand on the widespread perception that gold prices can serve as a reliable indicator of future inflation.

Vlieghe, who previously served as a bond expert at Deutsche Bank AG, argues that any increase and decrease in hedge assets reflects investors’ sentiment regarding the potential for inflation.

Vlieghe is part of a group of analysts representing the Bank of England who have been assigned the responsibility to study the impact of COVID-19 on the economy to determine future stimulus measures. Their testimony also revealed that the U.K.’s gross domestic product (GDP) would likely fall at least 9.5% this year.

Read the Full Article

EOS Seeks Continuation Rally Above $3

For EOS, the $3 area is an important support level on the daily time-frame since it previously acted as resistance and has acted as support four times after. However, technical indicators do not indicate that a reversal is near: the MACD was increasing, but failed to cross into positive territory and has fallen once again.

The Stochastic RSI is oversold but rejected a bullish cross. The RSI is below 50 and has not generated any bullish divergence.

Read the Full Analysis

Australian BitConnect Promoter Banned From Financial Services

Former BitConnect promoter John Bigatton has been banned by the Australian Securities and Investment Commission (ASIC) from offering or aiding in any financial services for seven years.

The ban is for Bigatton’s role in encouraging investors to put their money into the famous Ponzi scheme. Criminal investigations and lawsuits focused on BitConnect remain ongoing.

Read the Full Article

The post Cryptocurrency News Roundup for Sept 3, 2020 appeared first on BeInCrypto.

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cryptocurrency sept → Результатов: 106


Фото:

Malaysian Police Shut Down Crypto Mining Operation for $600k Electricity Theft

Sept 1, 2020 — Two Malaysian cryptocurrency mining facilities have been raided by law enforcement for an alleged electricity theft totaling more than $600k. According to reports by local news outlet The Star, the raids were conducted as a joint operation between Malaysia’s Energy Commission, the Tenaga Nasional Berhad (TNB) power utility firm, and local […] The post Malaysian Police Shut Down Crypto Mining Operation for $600k Electricity Theft appeared first on BeInCrypto.

2020-9-2 12:50


US Space Authority, NASA, to Hire Data Scientist with Blockchain and Crypto Asset Knowledge

The new data scientist position published on LinkedIn on Sept 21 terms having blockchain and cryptocurrency knowledge a ‘plus’. As the world moves towards new technologies, there seems to be an increasing interest in blockchain-based skills in the hiring departments of traditional heavyweight companies in various industries. The latest job listing from NASA shows an affinity […]

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CMCC Global Launches the Liberty Bitcoin Fund, Aims to Help Accredited Crypto Investors in Asia

Hong Kong based fund management firm sets its goals on providing Bitcoin investment services including buying and custody of the pioneer cryptocurrency. On Sept 18, the venture capital group CMCC Global announced their latest single asset fund, Liberty Bitcoin Fund to enhance BTC adoption and trading amongst accredited investors. ‘Launch is Demand Driven’ Since the […]

2019-9-19 19:39


277 Chinese Arrested for Crypto Scam in Philippine Special Economic Zone

277 Chinese Nationals have been arrested following a raid led by the Philippine Bureau of Immigration in Pasig city on Sept. 11. Crypto Scam Targets Philippines The agents were acting on a tip received from the Chinese government last week, who suspected that a cryptocurrency scam being promoted to Chinese investors was operating from one […] The post 277 Chinese Arrested for Crypto Scam in Philippine Special Economic Zone appeared first on CCN.com

2019-9-17 16:03


CoinLogiq, Paxful P2P Exchange Partner to Launch 20 New Bitcoin ATMs in Colombia, Peru is next

Peer to peer cryptocurrency exchange, Paxful, partners with Colombia based, CoinLogiq, to launch Bitcoin ATMs across Colombia and Peru. A press release on Sept. 5 from Paxful confirmed the opening of 20 new Bitcoin kiosks across Colombia with 25 more expected to be opened in Peru ‘soon’. The partnership with CoinLogiq is expected to ease […]

2019-9-6 19:05


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Chinese Investors Keen on Cryptocurrencies Despite Government Ban

Although the Chinese government is clamping down on cryptocurrencies, Chinese investors remain keen on owning digital assets and tokens. The Asia Times reported on Sept. 28 that the Chinese people have grown accustomed to the strongly interventionist communist government and have looked to peer-to-peer cryptocurrency trading approaches to gain access to these digital assets.

2018-10-2 13:49