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First Mover Asia: Bitcoin Sees No October Rise Yet; the Dollar as the Protocol in the Future of Money?
Bitcoin James Rubin is CoinDesk’s U.S. news editor based on the West Coast. Michael J. Casey is CoinDesk’s Chief Content Officer. Good morning. Here’s what’s happening: Prices: Bitcoin started what has historically been a strong month about where it ended a dismal September, holding over $19K. Insights: USDC’s stablecoin-fueled model of money, in which the dollar functions as an open “protocol,” could allow innovation to flourish. But healthy competition is a prerequisite. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. And sign up for First Mover, our daily newsletter putting the latest […]
Sorry, Ether: Sound Money Doesn’t Exist and Neither Does ‘Ultra’ Sound Money
Some Ethereum proponents sport a bat and speaker emoji in their name on Twitter. This means they support the idea that the Merge will make Ethereum “ultra sound money.” It’s sort of clever I guess, because bats use ultrasound to help them fly in the dark. But what does that even mean? To answer this, we first need to answer the question: What is ultra sound money? But before we can even begin thinking about ultra sound money, we need to start with just plain sound money. It is worth adding that sound money is sometimes referred to as hard […]
Bitcoin Providing Historical Buying Opportunity – Here’s The Best Entry Levels To Watch
Cryptocurrency The price of bitcoin (BTC) has been moving sideways for the second week in a row due to the persistence of two bearish caps and the lack of new lows being made by the price action itself. Is now the ideal moment to accumulate Bitcoin, nevertheless, given all the price drops? The historically ideal times to purchase long-term BTC positions were noted by a cryptocurrency analyst on Twitter. The timeframes, “12-15 months before the Bitcoin halving and 12-15 months after previous ATH, which is November 2022 – May 2023,” according to user MCP, are the best times to accumulate […]
Will October bring the Much Needed Rally for Bitcoin Price? Here’s what Traders Can Expect in First Week
Even if Bitcoin ended September with a loss, previous good rallies in October may encourage bulls. Only twice since 2013 has BTC ended the month of October in the negative, according to data from coinglass: in 2014 and 2018. This makes a recovery in October more likely. Since last week, the price of BTC has been hovering around the June low of $17,550. The lengthy wick on the candlestick indicates that bears are still selling on rallies despite the bulls’ attempts to begin a recovery this week. The S&P 500 (US500) has decreased for six straight days, according to TradingView. […]
MicroStrategy Wants to Hire Bitcoin Lightning Software Engineer
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Ethereum Classic (ETC) Sheds 30% In Last 2 Weeks – More Pain Ahead?
Ethereum Classic (ETC) has been in the clutch of the bears as it has shaved off as much as 30% in the past two weeks. Ethereum Classic price down 30% in the past two weeks ETC trading at $27.69 as of press time ETC’s downturn opens up opportunities for short-term positions ETC has dropped below the $33.9 zone barely two weeks ago and it seems Bitcoin is suffering the same fate as it failed to barrel past the key resistance of $19.7k. The selling pressure has been intermittently high in the crypto market. Coming from the larger Ethereum, ETC is […]
