Monthly Archives: September 2020

Jameson Lopp, co-founder and CTO of Casa, a crypto custody firm has released a test result report on Bitcoin multi-signature hardware signing performance on the Casa blog on Sep. 13.

The result shows that hardware crypto wallet devices can handle small, simple transactions well. However, they have trouble performing once the transaction becomes complicated. Casa is said to be built upon geographically distributed multisig, dedicated hardware devices to secure keys, designed user experience, and client services.

Lopp pointed out that while the company has no control over the hardware devices, the goal is to support any device at the end of the day. Thus, he decided to conduct research and hoped to draw some conclusions and help multisig software providers better understand the limits of hardware and customize wallet software for better performance.

Casa is currently compatible with six hardware including Trezor, Ledger, Coinkite and Coldcard The test was done on all the supported hardware devices and also BitBox.

Lopp set up the test by leveraging Electrum's 4.0.2 appimage on Debian Linux and created a variety of P2WSH (native segwit) multisig wallets that use Bitcoins testnet and with the hardware devices plugged in via USB. In each wallet, there was a deposit of 100 UTXOs.

Lopp created a series of tests to determine these hardware wallet capabilities when signing multi-signature transactions of varying complexity. He repeated these tests and concluded that its better and more secure if hardware devices can show progress indicators for loading and signing. He added that:

I came to really dislike hardware devices that don't show progress indicators for loading and signing. As such, I highly prefer Coldcard and Trezor in this respect. BitBox and Ledger are anxiety-inducing because you have no idea if anything is actually happening.

When it comes to overcoming transaction size limitation and delay of transaction processing time, Lopp suggested that hardware wallets could try to break up a send into multiple smaller transactions that are below its limits.

When the transaction process takes too long, some devices will lock itself from inactivity. Lopp suggests that the least device manufacturers could do to avoid such inconvenience is to disable the screen lock timeout while the device is still working on the transaction.

According to Lopp, hardware devices should also support Partially signed Bitcoin transactions (PSBT) and all possible valid multisig transactions. He added that:

I believe it's time for hardware manufacturers to start acting like platform providers and ensure that they are providing robust platforms that can be used to build a wide variety of solutions.

There are two steps for hardware devices to follow when signing a Bitcoin transaction, according to Lopp:

First, The transaction gets loaded onto the device, it parses the details and displays them on the screen for user confirmation. These details are generally the address(es) to which funds are being sent, the amount(s) being sent, and the fee being paid. Then, Upon user confirmation, the device signs each transaction input and then returns the signed transaction to the wallet software.

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Bitcoin hardware devices need to improve to handle complex transactions - Cointelegraph

Its been a tough week for Bitcoin. The price has fallen more than 8 percent and dipped below $10,000 on three consecutive days. Analyst Willy Woo, though, thinks its all looking good. He believes that on-chain indicators, such as the NVT ratio, suggest a bullish outlook, while Su Zhu of Three Arrows Capital believes that a surge to $100,000 is more likely than a fall to $5,000.

The son of gold investor and Bitcoin critic Peter Schiff is convinced. The 18-year-old college freshman just bought some more Bitcoin, against his fathers advice. Asked whether they want to follow the student whos never had a job or the 30-year investment professional, Twitter picked the Bitcoin fan.

At least the young Schiff will be set for the end of the world. Podcaster Adam Curry has told comedian Joe Rogan that the apocalypse is coming, and as you hide in your bunker and battle the zombies, youre going to need a Bitcoin. Its no wonder that Bitcoin is now the worlds sixth-largest currency. And thats despite dying again. As the cryptocurrency lost value this week, the Bitcoin Obituary got to add another eulogy to its list.

As youre mourning the 382nd death of Bitcoin, you might want to hold off on loading up on Bitcoin Cash, though. It turns out that Tim Draper didnt recently buy some or thank Roger Ver. It looks like his Twitter account was hacked or a paid ad went wrong.

But if the apocalypse does come, maybe the GoodDollar will save us. The eToro token will set aside a daily amount as a basic income for the platforms participants. Andrew Yang would like it. Or alternatively, you could just hack a wallet. Crypto Twitter user Alon Gal has declared that he has a wallet containing 69,000 Bitcoins. He just doesnt have the password. Hackers have been trying to crack it for two years with no luck. Did they try password123?

The number of active decentralized autonomous organizations, or DAOs, has jumped over the last year. Its up 660 percent, from ten a year ago to 76 now. At the same time, thefirst phase of the MakerDAO debt auction is reaching its final stages. Bidders have already committed to buying $2 million worth of Maker tokens using Dai.

Its not only DAOs that are on the up, though. Starbucks is now getting ready to deploy a blockchain to trace its coffee beans and enable greater product transparency. Chinas Hainan Wenchang International Aerospace City will use a blockchain to support its Smart Brain Planning and Design Institute. And Bangladesh is about to get its first blockchain-powered remittance service. The service will let Bangladeshi expats in Malaysia send their money home.

There have been a few setbacks too this week. The Texas State Securities Board has detected some more cryptocurrency scams. Texas Securities Commissioner Travis J. Ilesnamed Kumar Babu Bondesi and Darwin Eric Balusek as the alleged operators of the Forex Birds and PEK Universe scams. They could face up to ten years in jail. Balusek is also known as Bitcoin Pope.

And YouTube pulled the plug on Sunny Decrees crypto livestream. The platform said the video violated its policy against harmful and dangerous content.

Finally, Jay Cassano, Cointelegraphs editor-in-chief, has been promoted to CEO. His position will be taken by Jon Rice, previously the managing editor of Cointelegraph Magazine. Congratulations to them both.

Check out the audio version here:

Joel Comm is an internet pioneer, New York Times best-selling author, futurist speaker and co-host of The Bad Crypto Podcast. Thats a fancy way of saying he writes words, says things and loves to play with cryptos.

The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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Bitcoins obituary and a Starbucks blockchain: Bad crypto news of the week - Cointelegraph

On September 16, the Bitcoin Unlimited development team launched a new application called Votepeer. The software is powered by the Bitcoin Cash network and allows anyone to set up a transparent two-option voting process.

This week a couple of Bitcoin Unlimited (BU) developers released a new voting protocol called Votepeer. BU software engineers, Dagur and Jrgen Svennevik Notland, revealed the initial version of Votepeer, which can be located at the website voter.cash.

Votepeer is powered by Bitcoin Cash and allows anyone to easily set up a two-option vote using the simple and transparent voting protocol, the project announcement details. Participating, verifying, and tallying can be done through the SPV (Simple Payment Verification) technology in use in most bitcoin cash wallets and therefore does not require a full node.

The announcement published on the bitcoin cash (BCH) powered blogging platform read.cash, explains that the new release concludes the initial phase of BUIP129. During the second phase, BU developers will study more in order to make anonymous voting possible.

The third phase of the project is to build the technology into an easy-to-use app and release it publicly for general use, the announcement notes.

Hopefully, we can make online elections safer, Jrgen Svennevik Notland said. We are currently in research and development mode, open-sourcing our tools and apps as they mature, and a paper. Our current research item is to figure out how to make the election process in the two-option Voterpeer smart-contract anonymous.

The developer also detailed that individuals who are interested in contributing to Votepeer can reach out via Keybase.io. The engineers also said that the team released voter.cash now so the project can locate partners who will benefit from this type of voting technology.

We look forward to all the interesting ways the cryptocurrency community can use this technology to supercharge their governance processes, the BU devs concluded.

On social media and crypto oriented forums, BCH proponents seemed to like the Voterpeer project and the blockchain voting concept. The release comes 47 days prior to the U.S. Presidential election between Donald Trump and Joe Biden on November 3. Already, thanks to the vast number of mail-in ballots this year due to Covid-19, many Americans think the vote will be an utter calamity.

A few members of the BCH community discussed governments leveraging a platform that utilizes blockchain technology. Meanwhile, a few other crypto supporters recommended ideas to the BU team that could allow the protocol to execute building out a multi-choice voting process.

What do you think about the Votepeer project released by BU software developers? Let us know what you think about this subject in the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Bitcoin Unlimited Launches Two-Option Voting App Powered by Bitcoin Cash | Technology - Bitcoin News

ENCINITAS, Calif., Sept. 16, 2020 /PRNewswire/ --Glen Oaks Escrow, one of Southern California's largest independent escrow companies, recently announced that it closed its second Bitcoin transaction.

The organization shared that the homebuyer contacted the Glen Oaks Escrow office in San Diego to inquire about using Bitcoin after hearing about previous Bitcoin transactions that were administered within the organization.

"We're thrilled that our organization has closed another transaction with Bitcoin. We made the decision in 2018 to start accepting Bitcoin payments, and we are glad that we did, given that consumers see the value and are taking advantage of this payment method. This transaction exemplifies that, while a young technology in our industry, blockchain, and cryptocurrencies have the potential to become a bigger part of real estate transactions. And, given the current economic climate, some experts are predicting that real estate, gold, and Bitcoin will perform strongly over the long-term. We look forward to being there for our clients and are very proud to be at the forefront to enable transactions in this way," shared Joe Curtis, COO of Glen Oaks Escrow.

Glen Oaks Escrow accepts Bitcoin payments through BitPay, which acts as the payment processor in the transaction and is used to verify the funds. The escrow company then sends out an invoice to the buyer, similar to wire instructions in a fiat currency transaction.

The buyer then has a fixed window of time to remit payment using Bitcoin or another accepted cryptocurrency. The funds go to escrow through BitPay, which converts the Bitcoin into cash and wires US Dollars into the escrow account. In summary, BitPay takes the Bitcoin and converts it to cash for the seller, so the seller never actually sees the Bitcoin payment, just the cash.

"While some people and companies are still trying to understand how cryptocurrencies fit into the real estate industry, we continue to see the growth of usage in other markets. From Crypto Startup Schoolsto large banks getting involved with cryptocurrencies, we are confident that this new way of doing business will increase in our industry. We're proud to be paving the way for this technology," explained Curtis.

About Glen Oaks Escrow

Glen Oaks Escrow is part of the Pango Group, a family of companies that include American Trust Escrow, CV Escrow, Escrow Trust Advisors, AV Escrow, VOI Insurance Solutions, and Document Archive Solutions.

Pango Group has been one of the leading independent escrow resources in California for over 20 years with locations from Los Angeles to Orange County to the Coachella Valley and San Diego and owns and manages over 30 offices and 300 employees.

The company's mission of running exceptional real estate service businesses that enhance the lives of the people, partners, and communities we serve has been an integral part of its success. It was recently named one of the Best Places to Work for the 5th year in a row in Los Angeles.

CONTACT:Lucia Asbury(760) 697-9146[emailprotected]

SOURCE Glen Oaks Escrow

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Glen Oaks Escrow Announces It Assisted With Yet Another Bitcoin Transaction - PRNewswire

Today we consider bitcoin.

I found myself writing the following phrase to begin this mornings missive.

Bitcoin has been stuck in the $8,000-$12,000 range since May.

Then I thought that, while true, its kind of insane...

Bitcoin has been trading between about $8,000 and $12,000 per coin since May.

Using the mid-price of that range $10,000 as the base price, I am effectively saying that bitcoin has been stuck in a 40% ($4,000) range.

Imagine my saying that gold, or the Dow or the housing market was stuck in a 40% range. It takes several years, a global pandemic and an extraordinary amount of financial intervention to move any of those markets by as much as 40%.

Yet so normalised is bitcoins volatility, that Im now describing the cryptocurrencys 40% range trading as stuck.

Who needs leverage when youve got bitcoin?

In any case, bitcoin is by its own standards if nothing elses quiet at the moment. It began the year at $7,000, enjoyed a great run into February, taking it north of $10,000, collapsed with the coronavirus panic, and lost nearly 50%.

The rebound took it from below around $5,000 in March to north of $12,000 come August, since when the market has pulled back and found support around $10,000.

And this feels like a quiet year.

I guess thats because, for all the volatility, the 200-day moving average is as flat as a pancake, indicating that on this timeframe at least the market is going nowhere. The 50-day moving average is rising.

Quite interesting is that since February, bitcoin has been behaving like its a tech stock listed on the Nasdaq. You could pretty much overlay the bitcoin chart over the Nasdaq and see that whither one, thither the other. Theyve both been going the same way.

On a long- and intermediate-term basis, the Nasdaq is in an uptrend, on a short-term basis the picture is less clear. Its fallen a bit, then rallied.

For all their bubblicious qualities, Id be very careful shorting tech stocks because they have the ability to go so much higher. Its a scalability thing. Anything digital is so much more rapidly scalable than anything analogue. You can design a really good app, stick it in the app store and it can be sold anywhere in the world, pretty much instantly, a billion or more times over.

Lets say on the other hand you design a really good dog lead or a picture frame or a sandwich. To sell a billion units, you have to somehow make and distribute a billion dog leads, picture frames or sandwiches. Its a lot harder.

Im convinced scalability is the reason that so many Nasdaq stocks have been so unstoppable.

The same logic applies to bitcoin. The US dollar or the pound any fiat currency has limited scalability because of national borders. No such limitations affect bitcoin. It was designed to be cash for the internet and the internet is, effectively, borderless.

You can send and receive bitcoin to anyone anywhere as long as you both have an internet connection. As such it has the potential and I dont say this will happen, just that it has the potential to become the default cash system for the internet. The scalability of that is just too great to ignore.

Then, on the other side of the coin, it is almost infinitely divisible, yet in limited supply, so the potential for gains is so enormous that I say you just have to own some whether its having a quiet year or not.

In fact, quiet years in bitcoin are generally a good time to stake a position. Bitcoin has this tendency to go quiet for a couple of years, then go bananas. You want to buy it when its quiet.

As things have evolved, bitcoins purpose as cash for the internet has sort of disappeared. 31% of bitcoins have been inactive for at least three years, says Guy Hirsch, US managing director for multi-asset brokerage eToro. Some of those bitcoins will have been somehow lost, but a large portion will belong to people who do not see them as cash, but more like digital gold as something to hoard. Hodlers, as they are known.

Bitcoin has become the backbone of the cryptoverse, rather like gold was to the monetary system of the 19th century. Most peoples route into the booming and ever-expanding crypto economy from fiat is via bitcoin. It has a sort of portal status.

The latest craze to have gripped the crypto economy is defi decentralised finance. There are now over 100,000 bitcoins, worth over $10bn, locked up in it.

In theory, defi is the self-sovereign future. Its accessible to anyone in the world with a smartphone and internet connection. And you will find every type of financial service available interest-paying savings accounts, lending, trading, insurance, betting, prediction markets, even a lottery. You name it, therell be an app for it. Actually a dapp decentralised app.

You can use some apps in conjunction with each other hence it being called Lego money. For example, you could buy a stablecoin with one app, then lend it on another to earn interest, all using your smartphone.

Its the usual story: rather than being set by institutions, the rules of each dapp are set in code, and the code can be read on the blockchain for you to audit. Assuming you are capable of such a thing, which few are.

Normally the apps are built on the ethereum blockchain which is why the ethereum cryptocurrency has woken up over the last six months as the defi craze has spread. (Though the ethereum platform is notoriously rickety and it is kind of crucial to the whole thing.)

Its a full-time job trying to track and understand the whole sector, and to keep your finger on the pulse. I poke my head in and just feel like grandad.

If you dont have the time or the inclination to get involved, and most of us dont, yet you can sort of feel the whole thing has immense potential and is tremendously scalable the easiest way to get exposure is simply to own bitcoin.

So, theres yet another reason, as if you needed it.

Daylight Robbery How Tax Shaped The Past And Will Change The Future is available at Amazon and all good bookstores with the audiobook, read by Dominic, on Audible and elsewhere.

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Heres why you really should own at least some bitcoin - MoneyWeek

Despite much anticipation, the Indian cryptocurrency bill is not included in the list of bills to be introduced in the current session of parliament. Meanwhile, a new report of Indias government planning to ban cryptocurrency trading has emerged.

The Indian government has been deliberating on how it will treat cryptocurrencies in the country after a draft crypto bill was submitted by an interministerial committee headed by former Finance Secretary Subhash Chandra Garg last year.

The government originally said that it planned to introduce this bill in the Winter session of parliament last year. When that did not happen, there were reports suggesting that the crypto bill could be introduced in the Monsoon session, which started Monday and will continue through Oct. 1.

Tanvi Ratna, CEO of blockchain policy and regulatory advisory firm Policy 4.0, explained on Twitter Sunday that the Monsoon session of parliament was disrupted due to the covid-19 pandemic, adding:

Cryptocurrency ban legislation does not appear in the list of 45+ bills on the agenda for the 18-day session. This is big news, though this could change & there are other routes for govt.

The Indian government has not made any announcement regarding its plans for cryptocurrency, which has led to rumors and speculation. Several reports indicate that the government is planning to ban cryptocurrencies as outlined in the draft bill submitted by the Garg committee.

The latest crypto ban news was published by Bloomberg on Tuesday. The publication claims that India is planning to introduce law to ban cryptocurrency trading. Citing people familiar with the development who asked not to be identified, citing rules on speaking with the media, the publication wrote:

The bill is expected to be discussed shortly by the federal cabinet before it is sent to parliament.

The federal government will encourage blockchain, the technology underlying cryptocurrencies, but is not keen on cryptocurrency trading, according to two people, the news outlet added.

Since this is not the first time the Indian crypto community has had to deal with ban rumors, many people on Twitter were quick to point out that the sources of the news are anonymous, and previous ban rumors never materialized.

Blockchain lawyer Varun Sethi commented: Words like federal cabinet suggest its inspired from some western country. In India, we generally use central government. Also, no sources or quotes raise doubts.

Furthermore, Crypto Kanoon co-founder Mohammed Danish previously explained that if the Indian government decides to pass a law to ban cryptocurrency in some ways, this law can be challenged by crypto business, traders, or enthusiasts based on various rights available to them under the Constitution.

Despite multiple ban reports, the cryptocurrency community in India firmly believes that the government will not impose a full ban on cryptocurrencies since much has happened since the Garg committees bill was drafted.

Earlier this month, Begin India Think Tank founder Deepak Kapoor explained that bitcoin and other cryptocurrencies could have the same legal status as stocks. In July, Garg himself said that Crypto assets as commodities should be allowed, even though he stood by his recommendation that cryptocurrencies should be outlawed. He has since retired from government service.

Do you think India will ban or regulate cryptocurrency? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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India's Crypto Bill Omitted From Parliament Agenda While New Ban Report Appears - Bitcoin News

It is a question that many in the crypto community must have asked themselves at least once. The news ofWladimir van der Laan taking a temporary hiatus, prompted us to explore what some might consider to be an improbable, yet highly impactful situation.

A Bitcoin Core developer that is also a maintainer of the project's GitHub account (i.e., someone who can merge code into the master branch)is a rare commodity. To put this in perspective, if a Bitcoin Core developer is a black belt, then someone like van der Laan is a third-degree black belt.

To set the record straight we interviewed the well-known sensei and master of the Blockstream dojo, Adam Back. He said that neither Laans departure, nor the disappearance of all the maintainers in the event of a potential catastrophe, would present a challenge to Bitcoin (BTC):

Back also opined that most in the crypto community do not truly understand the role of Core developers in the ecosystem and tend to overestimate their importance. In his view, the changes that Bitcoin Core developers can introduce are bound by being backward compatible and should not change the key properties of the protocol like finality, censorship resistance, or rate of inflation. He also noted that changes should preserve or improve privacy. Back believes if the developers tried to introduce ideals outside of this paradigm, they would be rejected by the ecosystem:

Back is also against any sort of on-chain governance as he believes that this would lead to the centralized lobbying groups taking control of Bitcoin, noting that this is a problem inherent to proof-of-stake protocols. We parried that with the current system, some believe that organizations like Backs Blockstream, Lightning Labs, Chaincode Labs and others that support Bitcoin Core developers, have a disproportional amount of influence in the ecosystem. Back replied that Blockstream purposefully does not take a position on Bitcoin proposals. At the same time, Core developers under the companys employ can quit Blockstream if they believe they are being pressured to do something bad for Bitcoin and the company would have to pay their salary for another year.

We asked the Hashcash inventor why, if the decision-making process within the Bitcoin ecosystem is so harmonious, do debates sometimes become so heated? It is well known that some have even lead to schisms, like in the case of the block size debate. In his view, this happened because some participants were trying to force their way to a change:

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Would Bitcoin suffer if the lead maintainers were kidnapped by aliens? - Cointelegraph

Aberdeen, Hong Kong, September 16, 2020. More than 10 years after the first cryptocurrency was successfully mined, the mining space is more controversial than ever. The process was created to be democratic; to allow any PC with spare computing resources to contribute the surplus to help maintain the cryptocurrency network and earn rewards in return.

The prospects of the mining prize mentioned here led entrepreneurs to innovate ways to make mining more profitable. In the process, they have fabricated specialized mining devices that do not only do the activity faster, but also improves the profitability of the exercise while at it. The said changes now mean that anyone who wants to earn from Bitcoin and cryptocurrency mining must put in a colossal amount of capital to afford the expensive devices. Besides, the cost of electricity required to sustain the process is extortionate.

The incredible pace of change in the industry, notwithstanding, an innovative entrepreneur and his unique startup are prepping the industry for major changes. The individual, Thomas Norberg, is a Russian-born businessman with a vision to make Bitcoin and cryptocurrency mining more user-friendly and less costly to join.

Thomas was born in Russia. After attaining elementary education in his native country, he set sail for oversees, landing in Sweden where he enrolled for a Masters degree in International Business Management, which he completed successfully.

Upon completing his graduate studies, Thomas joined the corporate world earnestly. It was while here that he stumbled upon the novel blockchain technology. Having been in the industry for more than 8 years, he can now talk authoritatively about the successes of the space as well as the issues and challenges ailing the industry.

Thomas has seen it all, or at least most of it. He started as a crypto trader back when not many people knew about virtual currencies. Between 2016 and 2018, when initial coin offerings (ICOs) were all the rage, Thomas dived in and backed several projects with the proceeds from his trading days.

However, technology is dynamic and there is no space where this statement is truer than the blockchain industry. Watching the comings and goings of the space, it did not take Thomas long to see the folly and lopsided aspect of the industry that crypto mining had become. Baffled by the cost of hardware and the runaway power tariffs, Thomas joined hands with some entrepreneurs he came to know in the industry. Together, they came up with the idea of a cloud mining platform that has a unique yet friendly approach to the undertaking. And, the process gave forth to Miny.cc.

Miny is primarily a cryptocurrency wallet infrastructure. If a user creates an account on the platform, he or she also gets a secure cryptocurrency wallet by default. The multi-coin wallet can store Bitcoin, Ethereum, Litecoin, and MINY tokens.

However, the platforms shining star is its cloud mining plan. The plan is simple and easy to use. All a user needs to do is create an account, deposit crypto into the wallet provided and convert the virtual currency into MINY tokens. Once the platform verifies the deposit, the user will be included in the mining pool where he or she will begin getting a share of the platforms mining proceeds. Overall, the platform pays out between 10% and 19% of the amount a user invests, per month.

Aside from cloud mining, users can make money on the platform through several means. The platforms native token, MINY, for instance, is a revenue earner. The cryptocurrency is made such that for every successful transaction completed on the platform, a portion of it burns. In doing so, the platform ensures that the number of MINY tokens in circulation reduces over time.

Since the demand for the coins is set to increase over time while the amount in circulation reduces, the value of the coin, as such, will appreciate. Users who hold the coins for an extended period can exchange them for other cryptocurrencies or cash them as fiat and enjoy their profits.

Still, users who have extensive following online can cash in on this resource. The platform has an elaborate affiliate program that pays commissions for the referrals a user brings up to the 20th downline.

The above narrative shows that Thomas Norberg is in the game for more than just profits. The Russian entrepreneur and his band of associates want to make Bitcoin mining worth considering again. Besides, they want to see it become an undertaking that is environment friendly and Sustainable. This reason is why Minys mining farm is located in Hong Kong. The regions endeavor to go green makes its power cheap and attractive.

More information about Thomas Norberg and his unique project is available here.

Press Contact Email Addressinfo@miny.cc

Supporting Linkhttps://www.youtube.com/watch?v=zlocB2BEKNg

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Miny.CC Innovation in the Cryptocurrency Mining Sphere | Press release Bitcoin News - Bitcoin News

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Bitcoin was able to continue the upward trend of the last few days and briefly rose to $11,090. Thus, BTC broke through the important $11,000 mark for the first time in 4 weeks. At the time of going to press, the Bitcoin price has stabilized at $10,890 and thus recorded a plus of 0.97 % in the last 24 hours. The market capitalization is still $201 billion and the Bitcoin dominance stands at 57.5 %.

According to the news and media company Bloomberg, Bitcoin shows the first clear buy signal since the start of the corona pandemic in March. This is the conclusion of a new report considering the GTI (Global Strength Indicator). Further indicators also show that Bitcoin could reach a new annual high if it rises above the USD 12,000 mark. Nigel Green, Chief Executive and founder of the deVere Group, states in this sense that Bitcoin lives up to its reputation as digital gold:

It has already earned it the label digital gold and I believe its status in this regard will grow exponentially over the next year or two.

Other price drivers are the entries and developments of institutional investors. For example, in August, financial giant Fidelity Investmens launched its first institutional Bitcoin fund, which has continued to attract other financial heavyweights to date. Steve Ehrlich, Chief Executive Officer and co-founder of Voyager Digital, is also extremely bullish for BTC:

The price of Bitcoin is reflective of the belief that Bitcoin is a hedge against the overall global economy.

Other analysts, including Josh Rager, are bullish about Bitcoin and the further price development. Nevertheless, Bitcoin must close above the $11,000 mark on the daily chart and continue to break through the next resistance along the $11,200 mark. Rager does not rule out a correction below the $10,000 mark. In this case, the remaining CME gap of $9,600 could be closed.

So-called CME gaps occur when Fridays closing price on the Chicago Mercantile Exchange (CME) deviates significantly from Mondays opening price. Since the CME is always closed on weekends, such gaps can occur, which can then be closed by Bitcoin. The last CME gap stands at $9,600 and has not yet been closed. In the community, this technical indicator is regarded as another tool, but is also controversial in terms of its informative value.

Big Chonis Trading states that Bitcoin has been testing the last resistance level of mid-August at $11,100 in the last few hours, but was rejected in the first attempt. In his opinion, Bitcoin will rise above the $11,900 mark in the coming days, laying the foundation for a new Bull Run by the end of the year.

The Bitcoin TraderCRYPTOIRB has shared a chart with his followers that shows that the basic mood is rather bearish. According to current data from the analysis platform Santiment, the community currently expects a significantly lower price in the range of $8,000 to $9,000. However, the analyst also pointed out that this indicator has not always been true in the past.

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Bloomberg: Bitcoin shows first buy-signal since start of Corona - Crypto News Flash