The Bitcoin bull has celebrated recent wins after succeeding in pushing prices above $ 9600, surpassing the resistance of the downtrend and closing weekly and monthly upwards candles.
Due to the fact that margin exchanges often dominate the cryptocurrency market, sometimes what happens on these platforms can manipulate or at least seriously impact Bitcoin price volatility.
Funding for BitMEX can affect the number of traders occupying a certain position and OI (open interest rate) on the platform reaches key levels that often cause volatility booms.
With the funding ratio remaining active throughout most of Bitcoin's recent rally, there is a large number of long traders on BitMEX trading with high leverage and the hope that Bitcoin will explode into an bull market. new price.
#Bitcoin is looking a bit scary for the bulls at the moment.
The extends positive funding could be setting up for a pretty big long squeeze to the downside.
If support breaks, it will most likely be a violent squeeze as longs cover their positions
Watch for support reactions pic.twitter.com/KmSWKlGOaB
– Jacob Canfield (@JacobCanfield) February 3, 2020
With long positions superior to short on all exchanges, the abundance of long positions can be used as a fuel to drive Bitcoin prices lower.
After the Bitcoin price surged more than 40% in the past six weeks, many investors who bought low lows are enjoying significant profits. And with the belief that the bull market is so close, traders can be overused and stubbornly leveraged to make their sense of obscure risk management strategies.
Source: Blockchain Whispers
Bitcoin whales believe that Bitcoin does not rise in the long term
A Bitcoin whale doesn't believe that BTC is about to enter the new long-term bull market.
The anonymous whale, known as Joe007, has been the leading trader on Bitfinex for the past two months – earning $ 20 million in profits made from December to January.
Although some cryptocurrency analysts said Bitcoin could break the ATH this year, Joe is refuting the claim that BTC will 'to the moon' if it can surpass the resistance of $ 10,000.
Trends don't magically “happen” – they are based on supply / demand imbalances and backed by fiat in / out-flows. Anyone who doesn’t understand this and sees BTC as some black box that magically “does what it always does” has no business trading.
– Joe007 (I identify as overweight dolphin) (@ J0E007) February 2, 2020
According to data provided by cryptocurrency research firm Skew, the price of Ethereum rose by more than 14% last week. Top altcoins significantly outperform Bitcoin, having increased by 8% in the same time period.
Bitcoin + 8%, ether + 14% last week
With the bitcoin halving upcoming, ether to outperform bitcoin in 2020 remains a big contrarian call pic.twitter.com/XdxA6yC8hj
– skew (@skewdotcom) February 3, 2020
Initiative promoting adoption of ETH
Public blockchain projects, like Bitcoin and Ethereum, are open source. That means any individual can test the code for vulnerabilities.
Even so, not everyone can really understand it. Moreover, those who can understand the purpose of an application from code may still not fully grasp the meaning of different lines of code.
To address major smart contract vulnerabilities, such as the DAO, the Ethereum Trust Alliance (ETA) was born.
– Ethereum Trust Alliance (@ethtrustorg) February 3, 2020
Such a system will allow Ethereum users to quickly know whether a smart contract knows the flaw that makes its use potentially risky.
Ethereum Classic's online mining activity has witnessed a significant growth. Its hashrate has beaten all expectations and has now surpassed its all-time highs.
Hashrate is a metric to assess the health of the network. The higher the hashrate, the more secure the network. Accordingly, the ETC network is said to be safer than ever. The development was particularly shocking when the fact that ETC was rumored to have suffered a 51% attack just last month. Complaints about an attack proved to be false, since then hashrate has increased significantly.
– Ethereum Classic (@eth_classic) February 3, 2020
Handshake, a Proof-of-Work DNS protocol led by Bitcoin's Lightning Network co-founder, launched the mainnet in an attempt to decentralize Certificate Authorities and replace authorities such as ICANN to dominate top-level domains like “.com” and “.org”.
The project has maintained a low profile since its launch in August 2018, when it was reported that Handshake had raised $ 10.2 million secretly from a16z Crypto, Draper Associates, Founders Fund. , Sequoia Capital and other big names. Handshake's mainnet officially ran from 1700 UTC on Monday.
At the same time, Namebase, a domain name registrar, cloud wallet, and an exchange for Handshake, also supported by a16z Crypto, launched a trading service for Handshake token (HNS). Namebase users will eventually be able to purchase domain names on Handshake and use email-style cryptocurrency addresses to send and receive Bitcoin and other tokens.
RT, like, and follow if you can’t wait till then📈 pic.twitter.com/uKMJnS3ADe
– Namebase (@NamebaseHQ) February 3, 2020
The Handshake blockchain can currently mine its original HNS tokens, however, full transactions and functionality will not be activated until February 17. At the same time, the protocol will distribute HNS worth 115 million. dollars (85% of supply) for open source developers in a long-term decentralized airdrop.
Matic had a hefty price hike last year, tripling its original token price and rising to 0.04 cents in a rally. However, it was battered 50% in December when the Matic team unlocked 248 million tokens (2.5% of the total supply) from the Foundation's wallet.
A false rumor spread on Twitter that 15% of the supply was sent to Binance for liquidation, which some investors thought it was the beginning of a exit scam. According to the group's feedback, they only issued 3% that they said would be used to place bets and compensate mentors. The token then returned to the range bound below the 230 Sats level.
For now, however, it seems that momentum is returning to the assets when staking finally appears on Matic's testnet. The announcement quickly pushed prices up 22% to 240 Sats, before retreating back to the current 220 Sats (at the time of writing). The 240 Sats level is a strong resistance for MATIC to return on December 22, and abruptly end for a relief rally after a sharp decline. Therefore, this level will be an important resistance for MATIC to break if the asset continues to rise.
– MaticMad 🏴 (@ScotchGaz) February 3, 2020
Although the project development orientation for 2020 has not been finalized, Dr. Guil Sperb Machado has introduce Some features have been conceptualized for development.
Among these tools is a new compiler to convert .class (JVM bytecode) files to NeoVM bytecode, improving support for Java smart contracts on Neo. The team also expressed interest in developing a plugin for javac, the main Java compiler, which allows the neow3j compiler to be enabled automatically.
Follow Press Release On February 3, the open-source blockchain platform Waves established a non-profit organization called the Waves Association in Frankfurt, Germany to provide effective governance for its own ecosystem, Web3, and to promote DLT development, including public and private blockchain protocols.
The Waves Association will be represented by ten community members from six different countries: Portugal, Spain, Switzerland, Germany, the Netherlands and Russia. Waves founder Alexander Ivanov, also a member of the association, called the launch of the Waves Association an important step for the company's ecosystem.
ICX prices have been rising rapidly since January 16. While the up move has yet to show any significant weakness, the price has reached some very reversible levels. Reaching a high of 4,000 satoshi seems to be within its power.
Trader Posty outlined the ICX price chart that says the price is still around 50% until the previous breakdown level is reached, potentially providing significant resistance.
$ ICX Weekly
Price has another 50% to go until it reaches any significant level of resistance * this is not a buy signal *
Healthy correction would be ideal. 3k sats is what I would look for.
However, FOMO doesn’t always want to see healthy corrections … pic.twitter.com/HcWjmdGv9F
– Posty (@PostyXBT) February 3, 2020
News Cardano and Tezos
Weiss Crypto Ratings recently mentioned the smart contract platforms that made the top 5 on its list.
Obviously, the struggle for supreme power abounds in the cryptocurrency world. All crypto projects strive to be identified with leading industry activists.
Weiss mentioned that Ethereum, Tezos and Cardano are smart contract platforms in the top 5. In fact, almost all three crypto projects in question have great plans and projects to bring about the transition. big this year.
One of the biggest contests in #crypto world right now is who’s going to be the next smart contract leader. Out of all smart contract platforms the world finds useful, in our the top 5 are #Ethereum, #Tezos and #ADA. Who do you think other leading smart contract platforms are?
– Weiss Crypto Ratings (@WeissCrypto) February 3, 2020
On January 23, the price of Wanchain broke above the long-term downside resistance, signaling that the downtrend may have ended. After a short pullback, price is expected to reach the first target at the nearest resistance area.
Trader Johnny Woo tweeted a price chart combining WAN and ICX, saying that WAN price fluctuations would soon reflect ICX – achieving a significant increase in the process.
– Johnny Woo (@ j0hnnyw00) February 2, 2020
Last week, research firm Messari observed that the amount of value moved by stablecoins now exceeds the amount of value moved by ETH on the Ethereum network.
Mainly there are two types of stablecoins, bank stablecoins like Tether, Paxos, TUSD and USDC are pegged in dollars and protocol stablecoins like Dai are pledged with cryptocurrencies. They represent $ 3.2 billion in assets on Ethereum – a growing number for DeFi when the total value reaches nearly $ 1 billion.
Mythos Capital's founder, Ryan Sean Adams, went into the stablecoin situation and concluded that they are not parasitic with Ethereum.
Are stablecoins parasitic to ETH?
They quite one of the biggest reasons to be bullish on ETHhttps://t.co/Ffmbc0cB7V
– Ryan Sean Adams – rsa.eth (@RyanSAdams) February 3, 2020
In an exclusive interview with Cointelegraph, BitPay CEO Stephen Pair said the platform would soon add support for more cryptocurrencies, along with the ability to integrate the Lighting Network.
Although Pair cannot disclose which cryptocurrencies will be added to the next platform, he mentioned focusing on top-performance blockchains with the highest market capitalization.
According to Pair, the company makes payment volume of more than one billion dollars a year and has about 30,000 active merchant accounts. Large businesses like AT&T and Microsoft also use BitPay to allow customers to make transactions with cryptocurrency.
Although BitPay is well known for accepting Bitcoin, Bitcoin Cash and Ether for online and in-store payments, Pair has noticed that customers are requesting different cryptocurrencies to be used for transactions.
Coinbase is being accused of not allowing some users to withdraw more than $ 10 per day.
On February 2, a Redditor and Coinbase user reported that the exchange had set a daily withdrawal limit of $ 10 for some users. Reddit user Unholy_Crab1 claimed that his request for a higher withdrawal limit was rejected by Coinbase.
Hackers demand a ransom in Bitcoin after stealing encrypted data from 5 U.S. law firms
Hackers hacked data from 5 U.S. law firms and requested two sums of 100 Bitcoin (over $ 933,000 at the time of writing) from each company: one to restore access to the data, one to Delete copies if they do not want them to be sold.
According to data from cybersecurity firm Emsisoft, the hackers group – called Maze – have begun publishing part of the stolen data from the said companies. Two out of five law firms were hacked within 24 hours to February 1.
First, the Maze team lists the names of the hacked companies on its website and – if they don't pay for it – will publish a small portion of the stolen data as evidence and continue to release more and more pieces. sensitive over time. When a company pays, the group will remove its name from the site.
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