Kategorie-Archiv: Bitcoin

Bitcoin.com Exchange om de Ethereum-naar-Cardano Cross-Chain-brug van Occam onder te brengen

Occam.fi, de eerste full-stack DeFi-laag voor Cardano, kondigt een strategisch partnerschap aan met de toonaangevende handelsplatform Bitcoin.com Exchange. OccamRazer, de eerste volledig beschikbare functie van het Occam.fi-ecosysteem, wordt de komende dagen gelanceerd. Maar tot op heden heeft geen adequate cross-chain liquiditeitsbrug het Cardano-ecosysteem gediend – een probleem dat Occam.fi en zijn partners nu kunnen oplossen.

OccamRazer biedt nieuwe kansen voor projecten die voortbouwen op Cardano om op een gedistribueerde manier kapitaal aan te trekken, mogelijk gemaakt door gedecentraliseerde liquiditeitspools. Een belangrijk onderdeel van het ontsluiten van Cardano’s liquiditeitspotentieel op de keten om deze oplossing aan te drijven, is de mogelijkheid om liquiditeit van andere blockchains naar Cardano te verplaatsen.

Om Cardano-naar-Ethereum-interoperabiliteit mogelijk te maken, zal Bitcoin.com zijn bewaarfaciliteiten uitbreiden naar het Occam.fi-ecosysteem, waardoor de eerste Cardano-naar-Ethereum cross-chain liquiditeitsbrug mogelijk wordt.

De Deense Chaudry, CEO van Bitcoin.com Exchange, zei:

“We zijn verheugd om samen met het Occam.fi-team de opkomende Cardano DeFi-markt te betreden. Cardano en zijn gemeenschap hebben lang gewacht op de komst van geavanceerde DeFi-tools en liquiditeitsoplossingen, en via de volgende generatie Bitcoin.com Exchange en OccamRazer zijn we eindelijk klaar om te leveren. “

Mark Berger, voorzitter van de Occam Association, zei:

“Dit is een van de eerste stappen in onze visie om een ​​echt bloeiend DeFi-ecosysteem te creëren voor de Cardano-blockchain. We leggen de basis voor een zelfvoorzienend platform dat de gemeenschappen van Occam.fi en Cardano nog vele jaren van dienst zal zijn. Essentieel voor het realiseren van deze visie zijn strategische partnerschappen met providers zoals Bitcoin.com Exchange, met wie we ernaar uitkijken om de eerste cross-chain bridge voor Cardano te leveren. “

Elke native token die op Cardano is uitgebracht en via het OccamRazer-platform wordt gelanceerd, kan worden overgeschakeld naar ERC-20 en vice versa met behulp van de intuïtieve en gebruiksvriendelijke interfaces van de Bitcoin.com Exchange. Dit biedt vergelijkbare functionaliteit als die van Binance Smart Chain, waar de bestemmingsketen Cardano is, waardoor gemakkelijke asset swaps en de naadloze overdracht van liquiditeit van de ene blockchain naar de andere mogelijk zijn.

SkyBridge Capital on uusin Bitcoin ETF -sovellus US SEC: llä

SkyBridge Capital on hakenut Bitcoin ETF: ää yhteistyössä First Trust Advisorsin kanssa.

New Yorkissa sijaitseva sijoituspalveluyritys SkyBridge Capital on hakenut Bitcoin ( BTC ) -pörssissä käyvää rahastoa eli ETF: ää Yhdysvaltain arvopaperimarkkinakomissiolle

SkyBridge toimitti hakemuksen 19. maaliskuuta yhteistyössä sijoitusneuvojan First Trust Advisorsin kanssa. First Trust toimii rahaston neuvonantajana ja Skybridge alineuvonantajana.

Asiakirjoissa todetaan, että First Trust SkyBridge Bitcoin ETF pyrkii listaamaan osakkeitaan New Yorkin pörssissä Arca. Rahastolle ei ole vielä ilmoitettu tunnussymbolia.

Arkistoinnissa korostetaan, että luottamus tarjoaa säännellyn tavan sijoittajille altistua Bitcoinille tarvitsematta säilyttää digitaalista omaisuutta, ja antaa sijoittajille mahdollisuuden suorittaa kauppoja välittäjiensä kautta.

First Trust SkyBridge ETF Trust on nyt yksi monista Bitcoin ETF: n sovelluksista, joka odottaa tällä hetkellä SEC: n tuomiota

New Yorkissa toimiva varainhoitaja WisdomTree toimitti 11. maaliskuuta viimeisimmän hakemuksensa Bitcoin ETF: lle sen jälkeen , kun yritystä saada hyväksytty rahasto, jolla olisi enintään 5% sen salkusta Bitcoin-futuureissa huolimatta keskittymisestä energiaan ja metalleihin -2020.

Johtava yhdysvaltalainen sijoituspankki Morgan Stanley haki Bitcoin ETF: ää yhteistyössä kryptoon keskittyvän rahoituspalveluyrityksen NYDIGin kanssa 16. helmikuuta. Ehdotettu rahasto olisi yksinomaan sijoittajien käytettävissä, joilla on vähintään 2 miljoonan dollarin varallisuus yrityksen kanssa.

Tammikuussa SEC sai myös erilliset hakemukset Bitcoin ETF: ille tärkeimmiltä pörssissä käydyiltä tuotteiden liikkeeseenlaskijoilta VanEckiltä ja Texasissa sijaitsevilta Valkyrie Digital -varastoilta .

Pörssissä käydyn rahaston puuttuessa säänneltyjen sijoitustuotteiden puute, joka tarjoaisi altistumisen Bitcoinin hinnalle, näyttää ajavan yhdysvaltalaisia ​​sijoittajia spekuloimaan digitaalisen omaisuuden alalla toimivien merkittävien yritysten osakkeista.

Fundstratin digitaalisten omaisuusstrategioiden varapuheenjohtaja Leeor Shimron paljasti 22. maaliskuuta, että neljän suurimman julkisesti noteeratun Bitcoin-kaivosyrityksen osakkeet olivat ylittäneet Bitcoinin keskimäärin 455% viimeisten 12 kuukauden aikana. Kommentoidessaan tiedot CNBC, Simron, sanoi :

„Siihen saakka, kunnes Bitcoin ETF on hyväksytty, sijoittajat voivat pitää julkisia kaivosyhtiöitä yhtenä ainoista tavoista saada altistuminen Bitcoinille.“

Polkadot continues to grow

Polkadot continues to grow

Polkadot, the heterogeneous multi blockchain whose main goal is to facilitate the interoperability of parachains and non-native blockchains, continues to score milestones.

In addition to being the first blockchain by value locked in staking with its more than USD 10 billion, Polkadot continues to attract projects and developers. Its native DOT token has had a very good 2020 in terms of price, and has marked an increase of over 100% since the beginning of 2021 reaching almost $20.

Developers on Polkadot

Developers on Polkadot are steadily growing as are the lines of code being added to the project. The development activity of a project is its first indicator of health, and Polkadot’s Github repository shows an extremely active picture, with Gavin Wood, founder and lead developer, as the first Bitcoin Trend app contributor ahead of a large crowd of programmers. Substrate, the framework for building interoperable blockchains on Polkadot, has almost tripled its number of developers to 2600.

As with all projects with intense development activity, it is almost impossible to follow all the news related to the Polkadot ecosystem. In his post at the end of 2020, Gavin Wood explains how more than 200 projects were funded in 2020 thanks to Polkadot’s grant programmes and treasury, in addition to the $4.1 million granted to 145 proposals made as part of the Web3 Foundation’s ongoing funding programme. Wood says there are another 10.4 million DOTs sitting in the treasury waiting to be spent on new proposals, and that number will increase to 11.6 million due to the DOT’s 10 percent annual minting rate.

Last June Gitcoin, too, signed a deal with Polkadot. The crowdfunding platform, which works with a hybrid public funding mechanism based on both community contributions and rich donors, became famous in 2020 for its „quadratic founding“.

December also saw the launch of Rococo, a network whose aim is to test the consensus process of parachains. Plasm Network, a project that aims to bring smart contracts to Polkadot and the ability to further scale the blockchain, was the first parachain to be launched on Rococo.

Plasm is expected to soon enable the use of MetaMask on Polkadot, thus increasing its adoption and making Polkadot a real competitor to Ethereum.

Major exchanges have already listed DOT

Major exchanges have already listed Polkadot, with Bitfinex among the latest arrivals, and daily trading volumes of the DT coin are currently around $3 billion. Last but not least, Polkadot has made its way up the market capitalisation rankings to 4th place, overtaking Ripple.

Binance, one of the largest exchanges, has already included several tokens linked to the Polkadot ecosystem, and on 20 January it also launched a perpetual futures contract called DOTECOUSDT. This composite index is structured from a basket of Polkadot Ecosystem (DOTECO) protocol tokens listed on Binance such as and Kusama (KSM), Reef Finance (REEF), Akropolis (AKRO) and Dock (DOCK), and allows users to choose leverage from 1 to 20x.

What’s new for 2021

The Polkadot community now consists of over 100 teams and projects ranging from DeFi to Gaming, Supply Chain to Storage, IoT, Robotics etc. etc. China alone has over 30 teams building systems, projects and components for the Polkadot ecosystem such as Acala, Phala, Crust, Darwinia and ChainX. There are already more than 50 parachains ready to compete for slots.

Bluzelle, a project aiming to use blockchain for data storage (like Filecoin), has announced the launch of its mainnet on 3 February 2021. The protocol developed with Cosmos SDK will begin to actively integrate with some Polkadot-based projects, which will then be able to use large-scale data without relying on centralised servers.

Polkastarter (POLS), a cross-chain token pool and auction protocol built on Polkadot (DOT), was launched in October 2020 and is proving to be a way for projects to raise capital in a decentralised environment. Thanks to its IDOs (Initial Decentralized Offering) Polkastarter is reviving the period of ICOs on Ethereum.

Among the more than 20 projects that have raised funding thanks to Polkastarter are Nord Finance, a DeFi project built on Ethereum that aims to expand to other blockchains via Polkadot, and Polkacover, a multichain insurance protocol for crypto, DeFi, NFT and everything else related to the cryptocurrency industry.

Substrate version 3.0 is also expected to see the light of day in the first half of 2021, with some features such as Ethereum compatibility and a faster database thanks to a new backend.

Thanks to its unique design Polkadot offers more options for projects than previous blockchains, and this could lead to a large adoption.

If 2020 was a busy year for Polkadot, 2021 is set to increase its potential as a heterogeneous platform by welcoming more and more users and projects.

Litecoin Briefly Outperforms XRP Market Cap To Become 4th Cryptocurrency On The Market

Litecoin was briefly the fourth largest cryptocurrency by market cap, surpassing XRP.

XRP has faced major problems since the SEC filed charges against Ripple.

The price of XRP has fallen more than 50% since the charges were filed.

Litecoin, a cryptocurrency commonly referred to as digital „money“ while Bitcoin is said to be „gold,“ has taken over as the fourth largest cryptocurrency in terms of market capitalization.

According to CoinGecko , XRP has since regained its place, but it’s impossible to say how this battle with Litecoin is going .

Why has the price of XRP gone down?

For years, XRP had established itself as the third most dominant cryptocurrency in the blockchain space, but a lot has changed since then.

Last December, the Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs and two of its executives for the sale of more than $ 1 billion in unregistered securities.

The SEC alleges that XRP is a security, not a currency, and therefore Ripple Labs has not complied sufficiently with the current regulations. The Ripple team argues that XRP is a digital asset and a currency like Bitcoin or Ethereum, and therefore should not be under the jurisdiction of the SEC. The SEC has already clarified its views on Bitcoin and Ethereum , but never gave an outlook on XRP until the charges were filed.

Since the charges were filed, Ripple has received a terrible blow. Ripple Network’s native cryptocurrency, XRP , has gone from a three-month high of $ 0.71 per unit to a current price of $ 0.22.

This is at a time when other cryptocurrencies made massive gains. Many have more than doubled their market capitalization over the same period.

Recently, investors in XRP filed a petition with the SEC stating that the charges against Ripple are not in the best interest of investors and have caused property damage to the company and the cryptocurrency.

If this petition is accepted by the SEC, it is possible that it will reject the charges, although this does not appear likely.

What is litecoin?

Litecoin is a cryptocurrency created by Charlie Lee in order to make faster cryptocurrency payments. Similar to Bitcoin in terms of function but having a different blockchain protocol, Litecoin claims faster transaction times than Bitcoin as well as lower fees due to its mining algorithm .

Knowing that there are many characteristics shared between the two cryptocurrencies, many consider Litecoin to be a secondary asset of Bitcoin.

„Bitcoin é o ‚pano de fundo‘ para um dólar americano em falta“, diz o Wyoming Senator-Elect

O Senado americano de Wyoming elege Cynthia Lummis como a retaguarda de um dólar falido.
Ela ainda procura educar outros membros do Senado sobre a inovação.
Wyoming é o estado de referência na adoção da cadeia de bloqueio e criptografia em todos os Estados Unidos.
As economias globais continuam lidando com o evento do cisne negro, a pandemia do vírus Corona, que tem visto governos bombeando trilhões de dólares na economia para mantê-los à tona. Entretanto, analistas e especialistas na área estão preocupados com o efeito que isto poderia ter sobre as moedas fiat em uso em todo o mundo, à medida que a inflação aumenta.

Caso os sistemas falhem, Cynthia Lummis, a primeira mulher a ser eleita para o Senado do Wyoming, acredita que Bitcoin será o „pano de fundo“ para a economia dos EUA e está pronta para educar o Senado sobre a tecnologia.

Em uma recente entrevista sobre Peter McCormack’s What Bitcoin Did? Podcast, disse Lummis,

„Se chegarmos ao ponto em que gastamos tanto que as coisas começam a cair, o evento do cisne negro ocorre com relação a qualquer moeda fiduciária – seja nossa ou sua, ou da China ou do Japão – que há um „backstop“ disponível para todos os governos do mundo, e esse „backstop“ é o Bitcoin“.

A eleição de um Bitcoiner para o Senado é apenas parte dos passos do Estado para promover a adoção do criptograma e da cadeia de bloqueio. Em setembro, os reguladores do Wyoming aprovaram a licença estadual bancária Kraken, tornando-o o primeiro banco criptográfico em todos os Estados Unidos, e logo depois acrescentou Avanti como o segundo banco criptográfico a ser proibido em outubro.

Não obstante, os reguladores estaduais também permitiram que as seguradoras começassem a investir em Bitcoin Profit e outras moedas criptográficas em 1º de julho, estabelecendo uma referência para outros estados nos EUA, disse o Lummis no podcast,

„Não deve surpreender ninguém que o Wyoming tenha se tornado o líder na política para Bitcoin e criado políticas estatais que alimentaram nossa capacidade de realmente fretar bancos que podem fazer transações bancárias em Bitcoin“.

Ela quer ainda divulgar o evangelho de Bitcoin para outros membros do Senado uma vez que os senadores tomem posse em janeiro deste ano. Lummis pretende educar os outros senadores sobre como o Bitcoin pode ser usado junto com o dólar na recuperação da dívida e qualidades para tornar o dólar mais forte. Com a dívida nacional dos Estados Unidos disparando além dos 27 trilhões de dólares, desde que foi escrito, Lummis acredita que poderia ser insustentável no futuro próximo, mas Bitcoin poderia oferecer uma solução. Lummis disse,

„Eu realmente quero usar meu tempo no Senado dos EUA em parte para ajudar a introduzir o tema Bitcoin“.

„Aumentar a compreensão no Senado sobre Bitcoin, o que é, o que faz, como pode ser um ativo que pode crescer e se desenvolver como coadjuvante, então basicamente se desenvolver ao lado de nossa moeda fiat“.

Ela afirma que as políticas estabelecidas pela Bitcoin poderiam fazer um trabalho melhor do que o Fed está fazendo à medida que a inflação aumenta, matando o poder de compra do dólar. Ela afirmou no podcast,

„No caso da moeda americana, a inflação está embutida no plano do Federal Reserve para o dólar americano. Portanto, não é de se admirar que nosso poder de compra esteja corroído“.

Em sua busca para levar a adoção de Bitcoin ao Senado e ao povo, Lummis nomeou o ex-Representante Estadual de Wyoming e co-presidente da Força-Tarefa de Bloco de Wyoming, Tyler Lindholm, como diretor de política estadual de Wyoming.

Bitcoin miners from Bitmain sold out by spring 2021

Bitmain and MicroBT report that several of their miners will be sold out by spring 2021 due to high demand.

In the meantime, search Bitmain’s official websiteaccording to the miners Antminer S19 Pro and T19, you will find out that all pre-orderers have to wait for their orders until May next year

But not only Bitmain is currently in trouble when it comes to the procurement of mining equipment. The company’s main competitor, Bitcoin Method, reported that the WhatsMiner M30 was sold out.

A company spokesman spoke out about the product shortageThe Block:

We continue to work hard to get more chip capacity from Samsung to accommodate more pre-orders for future inventory.

The sold out miners can only be purchased directly from the manufacturer, but only with a significant price premium. The Antminer S19 was originally priced at $ 3,000. This has now leveled off at US $ 3,800-4,100. Pre-orderers were able to purchase the miner for 2,684 US dollars.

The currently soaring Bitcoin price triggered a real hype. It sometimes happens that customers want to buy 1,000 miners at once, explained Mike Colyer, CEO of Foundry, a subsidiary of the Digital Currency Group .

Nok en mystisk Satoshi-Era Bitcoin Move – $ 30 millioner overføring

Store mengder Bitcoin som tidligere hadde vært uberørt, flyttet nettopp. Dette fortsetter å skje.

Kort fortalt

Bitcoin fra 2010 ble nettopp flyttet til en annen adresse.
Bitcoin har økt i verdi siden den sist ble flyttet — og er nå verdt $ 15,5 millioner.
Det er ikke klart hvorfor myntene ble flyttet – men det er sannsynlig at eieren ville ha vært i kontakt med Bitcoins skaperen.

Redaktørens merknad: Denne artikkelen er oppdatert for å inkludere tre andre Bitcoin „oppvåkning“ som skjedde i løpet av helgen, og for å legge til kommentarer fra Kirill Kretov.

Bitcoin verdt over $ 30 millioner som tidligere hadde sittet i tomgangslommebøker, „vekket“ denne helgen i fire transaksjoner.

Satoshi-epoken Bitcoin flyttet for første gang fredag ​​- da 50 mynter nå verdt over $ 700 000 flyttet til en enkelt adresse. Det hadde ikke blitt berørt tidligere siden 2010.

Det samme skjedde i går kveld, da en annen tidligere urørt „sovende“ 50 Bitcoins ble flyttet.

Lytt til The Decrypt Daily Podcast
Din daglige dose med kryptovaluta-nyheter, læring, sladder og diskusjoner.

Bare syv timer senere flyttet 20 lommebøker til sammen 1000 Bitcoin – verdt $ 15,5 millioner – til en enkelt adresse.

Og i dag skjedde nøyaktig det samme: 20 lommebøker med 1000 Bitcoin flyttet til en enkelt adresse, noe som førte til at den totale „Bitcoin“ ble vekket til 32,6 millioner dollar.

Det er ikke klart hvem som flyttet Bitcoin eller hvorfor de bestemte seg for å overføre den til en annen adresse, men myntene fra Satoshi-tiden ble utvunnet tilbake i 2010 – da valutaen var verdt peanøtter.

Kryptohandler Kirill Kretov markerte trekket på LinkedIn. Han fortalte Decrypt at Bitcoin muligens flyttet fordi den nåværende prisen på Bitcoin „er god nok til å selge en del av beholdningen.“

Han la til: ”Men jeg kan absolutt ikke vite hva som er i hodet på en slik sann holder. Jeg antar at det er vanskelig for dem å reise på grunn av forskjellige metalldetektorer. ”

„Satoshi era“ Bitcoin refererer til mynter som ble utvunnet da Bitcoins pseudonyme skaper, Satoshi Nakamoto, fremdeles kommuniserte med kryptoverdenen. Nakamotos identitet er fortsatt ukjent, og ingen har hørt fra ham siden 2010.

Hvis eieren av myntene som flyttet i går, skulle selge dem nå, ville fortjenesten være astronomisk: i 2010 var 1 Bitcoin verdt mindre enn 0,10 dollar. I dag handler kryptovalutaen for $ 15,342,56, ifølge CoinMarketCap.

  • BTC
  • + 32,98% $ 15028,31
  • 24H7D1M1YMaks
  • 10. okt 14. okt 18. okt 22 okt 30 30. nov 7110001200013000140001500016000
  • BTC-pris

Dette er ikke første gang i år Bitcoin som tidligere hadde samlet støv, er flyttet.

Bare forrige måned ble $ 11,4 millioner verdt Bitcoin flyttet. Den hadde også sittet i en tomgangslommebok siden 2010.

ANALYST: ALTCOIN-ABWÄRTSTREND EXTREM BEGRENZT, DA BITCOIN STABIL BLEIBT

  • Bitcoin war in der Zeit nach seiner Ablehnung von 13.800 $ stabil, wobei die Bullen etwas an Schwung gewannen, als die Krypto-Währung aufblitzt und weiterhin Zeichen der Stärke zeigte
  • Obwohl es derzeit keine offensichtlichen Anzeichen von Schwäche zeigt, haben die Altmünzen in den letzten Tagen und Wochen kapituliert, wobei viele von ihnen immense Verluste verzeichneten
  • Analysten stellen nun fest, dass Altcoins dabei sein könnten, mittelfristige Tiefststände zu bilden
  • Ein Händler stellt fest, dass die Verluste bei kleineren Marken derzeit „extrem begrenzt“ sind.
  • Dies bedeutet, dass der heutige heftige Altmünzenverkauf viele von ihnen in überverkauftes Gebiet geführt haben könnte, was bedeutet, dass eine starke Erholungsrallye unmittelbar bevorsteht.

Bitcoin hat in letzter Zeit aufgrund seiner offenkundigen Stärke die Aufmerksamkeit von Investoren und Finanzmitteln in erheblichem Maße auf sich gezogen.

Dies geschah größtenteils auf Kosten der Altmünzen, die in einem unerbittlichen Abwärtstrend gefangen sind, der die Investoren zu intensiven Verlusten geführt hat.

Es besteht die Möglichkeit, dass ein weiterer Abwärtstrend bevorsteht, wenn BTC weiterhin die Dominanz über den Markt gewinnt, aber ein Analyst ist nicht allzu besorgt über diese Möglichkeit.

Er stellt fest, dass die Altcoin-Abwärtsbewegung jetzt begrenzt ist, und fügt hinzu, dass er vor allem in naher Zukunft mit Ausbrüchen nach oben rechnet.

BITCOIN KÄMPFT DAMIT, AN DYNAMIK ZU GEWINNEN, ABER ALTCOINS SETZEN DEN AUSVERKAUF FORT

Immediate Edge und Bitcoin befand sich in den letzten Tagen in einer festen Konsolidierungsphase und handelte nach der Ablehnung bei 13.800 $ im unteren Bereich von 13.0000 $.

Die Bullen haben es seit dieser Ablehnung langsam nach oben getrieben.

Er wird jetzt bei seinem derzeitigen Preis von 13.330 $ geringfügig höher gehandelt, während der Rest des Marktes nach unten driftet.

Diese Stärke war brutal für Altmünzen, insbesondere für neuere Münzen, die durch den DeFi-Bullenlauf Aufmerksamkeit erregten.

ANALYST: ALTCOIN-ABWÄRTSTREND NACH BRUTALEM AUSVERKAUF JETZT BEGRENZT

Die letzten Wochen waren brutal für Altmünzen, von denen viele um 50% oder mehr zurückgegangen sind, da sich der Schwerpunkt auf Bitcoin verlagert hat.

Ein Investor erwartet nicht, dass dieser Trend noch allzu lange anhält. Er stellt nun fest, dass die Altcoin-Abwärtsentwicklung äußerst begrenzt ist.

„Ich könnte mich definitiv irren, aber ich denke, dass der Abwärtstrend bei Altcoins von hier aus tatsächlich begrenzt ist. Ich glaube immer noch, dass es nach oben geht. Obwohl der Löwenanteil meiner Exponierung in letzter Zeit BTC war, halte ich immer noch eine Handvoll Alts, die mir lieb und teuer sind, und ich bin optimistisch bei Altmünzen.

Wobei der gesamte Markttrend als nächstes etwas von Bitcoin abhängt, aber es scheint, dass auf den heutigen intensiven Altmünzenverkauf ein ernsthaftes Aufwärtspotential folgen könnte.

This one factor could give new impetus to the Bitcoin rally

Bitcoin has seen immense volatility in the past few days. The coin is currently trading for $ 13,800 – above the lows of $ 13,200 on Monday, but below the daily highs of $ 14,100 and the weekend highs at the same level.

Bitcoin is up about 1.5% in the past 24 hours – and some analysts think that because of the futures market, BTC is poised to move higher.

An analyst has shared data that the cryptocurrency futures markets are clearly declining right now.
The problem, the analyst said, is that many of these shorts are bearish, while the funding rate is also negative.

This could lead to what is known as a short squeeze, which is driving Bitcoin high.

Futures data shows: Bitcoin could move even higher

Bitcoin has seen immense volatility in the days leading up to and during the US presidential election. The leading cryptocurrency is currently trading for $ 13,800, above Monday’s lows of $ 13,200 but below the daily highs at $ 14,100 and weekend highs at the same level.

Bitcoin has risen slightly over the past 24 hours, while volatility has left the cryptocurrency fluctuating between $ 13,000 and $ 14,000.

Analysts say Bitcoin is likely to continue to rise in the coming hours and days. A crypto asset analyst shared the chart below, according to which the futures markets of the crypto currency are clearly declining at the moment.

The problem, the analyst said, is that many of these shorts are in bearish while the funding rate is also negative. This greatly increases the chances of Bitcoin being subject to a short squeeze, which drives prices up quickly.

“In the meantime, Binance’s funding has been consistently negative for the past few days, and the L / S ratio has also decreased (more shorts). It looks to me like a pile of over-indebted shorts is under water. “

Chart of the price development of BTC in the last few weeks with analysis by the crypto trader Byzantine General (@ByzGen on Twitter). Source: Byzantine General: BTCUSD from TradingView.com
The funding rate is the fee with which long positions regularly pay short positions in order to maintain the future price of the spot market. Negative refinancing rates combined with rising prices increase the chance of a short squeeze.

Post-election uncertainty could spur correction

The election uncertainty could mean that this scenario does not come to fruition.

Several analysts have noted how uncertainty surrounding the US election due to different economic and financial policies could lead to movements in markets like the dollar and bitcoin.

For one thing, BTC has already risen by $ 400 from the election – but also crashed by $ 300.

A court in China sentenced the organizers of the crypt currency pyramid to $1 billion in prison.

On 27 October, a court in Yancheng City, Jiangsu Province, China, sentenced the organizers of the WoToken crypt currency pyramid to prison terms ranging from 2.5 to 8.8 years. The court rejected the appeal filed by the organizers of the scheme and also ruled that 425 million yuan ($60 million) of illegal income would be confiscated by law enforcement agencies. This was reported by The Block.

According to the court’s decision, Gao Yudong, Li Qibing, Wang Xiaoying and Tian Bo managed the WoToken trading platform with WOR token, which was a financial pipidu, from August 2018 to October 2019.

The organizers argued that the platform could generate revenue from a non-existent trading algorithm that could take advantage of arbitration opportunities on global crypto exchanges. In fact, according to court documents, the organisers were paying the promised revenue at the expense of new users.

As of 8 October 2019, WoToken had 715,249 users in China.

The court also cited data from the Blockchain, which shows that the organisers had attracted 46,050 BTCs, 286 million USDTs, 2 million ETHs, 292,590 LTCs and 6,841,797 EOS, which together were valued at 7.7 billion RMB ($1.1 billion).