Connect with us

Blockchain

A review of Dublin’s latest Southside Bitcoin & Ethereum ATM

Published

on

So following on from the recent annoucement of new bitcoin and ethereum ATM’s in Dublin and Cork as well as the closure of GSM Solutions which hosted the only other ATM in the city, I’ve been meaning to try out the latest (and as far as I’m aware only) crypto ATM in Dublin. So on a recent visit to town, I swung by Pair Mobile which is located on 32 Wicklow Street (close to Brown Thomas) to try out their ATM. Walking into the bright and clean store, I was greeted by friendly staff who pointed me to the Being Source: https://bitcoinsinireland.com/a-review-of-dublins-latest-bitcoin-ethereum-atm/

Blockchain

The Biggest Concern of Bitcoin Investors Until The End Of 2020: Will Trump Get Reelected (Survey)

Published

on

Bitcoin’s price is undeniably affected by many factors. Throughout its nascent history, it has displayed continuous correlation with the performance of gold, although, at times, it’s moving hand-in-hand with the stock market.

The overall macroeconomic landscape has also proven to be a factor for Bitcoin’s price. For example, it saw a 40% decrease in March when the world declared a state of global pandemic induced by the outbreak of the novel coronavirus COVID-19.

The 2020 US Presidential Elections are closing in on November 3rd, and this is no doubt an event that will have an impact on the world’s economy not only for this year but for the next four.

With all of the above in mind, we at CryptoPotato decided to ask our newsletter subscribers – what would have the highest impact on Bitcoin’s price, as we are getting to the end of 2020?

Trump’s Reelection a Top Concern for BTC Investors

A total of 500 participants took part in our survey. Below is a graphic representation of their answers.

You Might Also Like:

cryptopotato_survey_btc

39% of the respondents think that whether Trump gets reelected or not will be the deciding factor for Bitcoin’s price going forward. More interestingly, 20% of all the people who took the survey were Americans, and 43% of them voted for the same answer, giving even more strength to the notion.

32% of participants believe that the stock market’s performance will be a driving factor, while 16% believe gold’s price will have the highest impact on the price of Bitcoin. Only 13% of the respondents voted for the ongoing DeFi hype, which had decreased over the past month.

The results are somewhat unambiguous – investors are concerned with the upcoming elections and the stock market. Those two things, however, are tightly connected, and the stock markets are also likely to react to the outcome of the elections.

Trump: Catalyzing More Increase in Bitcoin’s Price

When trying to figure out what would happen in the future, it’s always a good idea to remind ourselves what happened in the past. For this particular event, we even have a reference point – Trump’s 2016 election.

Donald J. Trump became the 45th President of the United States on Tuesday, November 8th, 2016, after winning the race against his opponent Hillary Clinton.

At the time, Bitcoin was trading at around $700 but almost immediately after the news broke out, the cryptocurrency started increasing. In fact, it managed to gain about 40% by the end of the year, marking an impressive 2-month climb.

btcusd_Chart
BTC/USD Chart. Source: CoinMarketCap

It’s unlikely that the elections were the only factor for this move, but it’s also unreasonable to rule them out.

It’s also worth noting that during Trump’s presidency and the outbreak of the novel coronavirus, the Fed issued the COVID19 stimulus packages aimed at helping American citizens and even more so at bailing out large corporations.

This is something that Biden, Trump’s Democratic opponent, has criticized openly on more than one occasion.

During their first Presidential Debate last month, Biden said that “this country (read the US) wasn’t built by Wall Street bankers and CEOs and hedge fund managers. It was built by the American middle class.”

He also said that millionaires and billionaires did very well during the crisis because of the bailouts and the tax cuts. Moreover, he also plans to increase the corporate income tax rate from 21 to 28 percent, should he be elected, as part of his Tax Plan.

These are likely to be developments that Wall Street won’t welcome lightly and could prompt a sell-off or at least a halt to the stock market’s performance. It’s unlikely that this would turn out great for Bitcoin as well.

Featured image courtesy of FT

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/the-biggest-concern-of-bitcoin-investors-until-the-end-of-2020-will-trump-get-reelected-survey/

Continue Reading

Blockchain

Traders’ Digest: After $12K, Bitcoin Is Heading To $14,300 Before 2021

Published

on

Characterized by an explosive rally in the last 24 hours, bitcoin just took back this year’s high again. But a popular TradingView-based analyst is calling for BTC to hit $14,300. This is based on the ‘Underlying Trend-line’ analysis, which, according to him, is the “the most consistent trend-line since March.”

Bitcoin Testing The Underlying Trendline Again, Next Stop $14,300

As per TradingShot(TS), a widely popular bitcoin analyst, all the signs are pointing to BTC rallying to higher price points. How high? Well, the ‘Underlying Trend-line’ that TS published in June this year suggests a climb to the $14,300 mark.

bitcoin us dollar 4h chart
Bitcoin Underlying Trendline Source: Trading Shot, TradingView

TS says that bitcoin’s current underlying trendline has been the most consistent one since March. BTC is testing it again.TS reminded readers of the same and mentioned the culmination of the price action into strong rallies whenever there’s an ‘upward breach’ of the trendline.

The bitcoin price observer and chartist commented that similar to April, BTC is undergoing a heavy bout of accumulation.

As back in April, BTC has again formed a Channel Up on its 1D RSI , which represents accumulation on the actual price action. It is probably a matter of time before this breaks upwards.

Talking about the technical setup in detail, TS considers bitcoin’s price action within the above mentioned ‘Channel Up’ and one of its crucial aspects, the Fibonacci extension. Extrapolating the 3.000 Fibonacci extensions ‘from the 3rd high after the previous top’ gives us an idea about the next local top. 

You Might Also Like:

If the calculation works out this time as well, the bitcoin price may be heading towards $14,300.

Bloomberg’s Analysis Also Points To A $14,000 BTC by 2020 End.

As reported by CryptoPotato earlier during this month, Bloomberg’s senior commodity strategist Mike McGlone also suggested that bitcoin’s price could hit $100,000 by 2025. However, it is also important to note that Mike made a pretty resounding case for a $14,000 BTC by year-end.

While talking further about his Bitcoin price forecast this year, Mr.McGlone included the ’30-day average of Bitcoin active addresses from Coinmetrics’. He said that BTC’s active addresses were ‘a leading indicator of the recovery in 2019’.

Looking at the current trend of Bitcoin wallet addresses, he said that the trend points to a price point that is closer to the $15,000 mark than $10,500 (as of October 2).

Unless these gauges reverse, it’s unlikely the price will decline. – The BI commodity strategist said.

Crypto Exchange Kraken Had Predicted The Same Earlier In September

Citing its August 2020 Bitcoin Volatility Report, cryptocurrency exchange Kraken had pointed out that according to past trends, September always has been a lackadaisical month for bitcoin. But from October onwards, BTC will be in for an ‘incremental volatility’ ride and a price movement to the upside.

The exchange considered bitcoin’s historical 94-day year-end trend. As per the calculations, Kraken said bitcoin has almost 2 months to register fresh gains for investors and surpass the 315-day volatility moving average.

A look at the last nine years of data confirms the occurrence of a rally into the year-end and ‘incremental volatility’. – The exchange said.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/traders-digest-after-12k-bitcoin-is-heading-to-14300-before-2021/

Continue Reading

Blockchain

Bitcoin Just Tapped $13,000 as Buyers Continue to Rush In

Published

on

It’s been quite the past few days for the Bitcoin price. After trading as low as $11,200 last week, the cryptocurrency has rocketed higher. BTC now trades for $12,940 as of this article’s writing, just shy of the $13,000 daily highs it reached just hours ago.

Source of BTC's price action over the past few days. Chart from TradingView.com
Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom

Bitcoin Taps $13,000

Bitcoin just tapped $13,000 as buying pressure continues to erupt across the industry. Analysts think that Bitcoin is poised to squeeze higher despite already gaining almost 9% in the past day’s trading session.

Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin

Analysts note that Bitcoin’s funding rates on leading futures markets are currently negative to barely positive. This suggests that the cryptocurrency has room to squeeze higher as there remain short holders.

“The other times that BTC tried to break $12k, funding and premium were positive. They are neutral/negative now. So yeah, this time is different.”

Bitcoin

Image Courtesy of il Capo of Crypto. Source: BTCUSD on TradingView.
Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Bitcoin Just Tapped $13,000 as Buyers Continue to Rush In

Source: https://www.newsbtc.com/analysis/btc/bitcoin-just-tapped-13000-as-buyers-continue-to-rush-in/

Continue Reading

Trending