With worsening economy Venezuelan brake all previous Bitcoin Trade records

The previous record set in June broken during the opening week of when forty- billion Venezuelan bolivars were traded against the cryptocurrency Bitcoin. The current scenario indicates that, as, the political instability, social unrest, uncertainty increases, Venezuelans tend to accumulate more and more bitcoin. This unprecedented in Bitcoin may be […]
Source: bitcoinwarrior
With worsening economy Venezuelan brake all previous Bitcoin Trade records

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Ripple Announces Notable Investment in XRP Projects

Ripple

Ripple’s XRP is the world’s third-biggest cryptocurrency in terms of market capitalization, and over the past few years, the company has been engaged in extensive deal-making in order to make the cryptocurrency go mainstream in a way.

The company has up a wide range of products in its ecosystem that seeks to make the usage of XRP more prevalent in the global economy, and one of those products is Xpring. The Xpring initiative is aimed at building is called the ‘internet of value’ and making the participants in the ecosystem use XRP …

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Source: cryptocurrencynews
Ripple Announces Notable Investment in XRP Projects

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Australia’s Top Banks Move to Blockchain, as Crypto Threatens a Parallel Economy

Australia’s largest banks have agreed to and banking guarantees digitally on the blockchain. , they have entered into a with IBM and Scentre Group to start testing the technology to digitize bank guarantees. The three banks which formed the are, Australia and New Zealand Banking Group, Westpac Banking Corp, […]
Source: bitcoinwarrior
Australia’s Top Banks Move to Blockchain, as Crypto Threatens a Parallel Economy

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Bitcoin (BTC) In A Pole Position To Soar After Trump’s Recent Remarks

  • (BTC) bulls are firm, adds 4.2 percent
  • Slashing rates and weakening the USD is bullish for BTC

Because of Trump’s pressure on the Federal Reserve, the central bank could end up cutting interest rates. According to Pompliano, such a lax monetary policy could see capital flow to Bitcoin. In turn that will lift prices toward $100,000 by 2021.

Bitcoin Analysis

Fundamentals

There is a direct correlation Bitcoin price expansion and global economic turmoil. A slip in the latter causes a sporadic rise in the other, and there is evidence.

With different jurisdictions applying different monetary policies fitting for the stability of their economy and fiat currencies, President Trump is concerned about the US position when it comes to protecting the greenback.

While the USD is a reserve currency influenced mostly by supply-demand forces, he claims otherwise for the Euro and the Chinese Yuan.

In a tweet, he calls for the US to “match the currency manipulation ”:

and Europe playing big currency manipulation game and pumping money into their system in order to compete with the USA. We should MATCH, or continue being the dummies who sit back and politely watch as other countries continue to play their games – as they have for many years.”

No doubt, should there be punitive tariffs imposed on the while the Federal Reserve slash fund rates, Bitcoin stands to gain as a safe haven. If anything, that would be the perfect primer for a bullish run that could see the asset blast to $100,000 by 2021 as per Pompliano projection:

“In August of last year, I predicted Bitcoin would go down to $3,000 before returning to $10,000. It essentially did that […] now I think it’s going to $100,000, but […] there will be more volatility: there will be runs like we saw in June and then there will be 20-30 percent drawdowns from that.”

Candlestick Arrangement

Bitcoin BTC

At the time of writing, BTC is down 9.2 percent from last week’s close. However, gains in the past 24 hours are modest to say the least. Building on the double bar bull reversal pattern from the middle Bollinger Band (BB), bulls have a chance.

Although a conservative approach will be to initiate long positions once prices rally above $14,000, aggressive traders can buy the dips. All this is thanks to yesterday’s upswing confirming bulls of 1st and 2nd.

Unless otherwise there is a counter candlestick wiping out gains of July 3, buyers are in pole position to build on April through to June momentum.

Technical Indicators

Even if June 27 candlestick is visible, June 26 bull bar leads this trade plan. Any form of price volatility forcing BTC prices above $14,000 and June 26 high be with high trade volumes exceeding 82k. Similarly, a counter candlestick wiping out gains of July 3 as BTC crumble below $9,500 ideally be with high participation.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

The post Bitcoin (BTC) In A Pole Position To Soar After Trump’s Recent Remarks appeared first on NewsBTC.


Source: newsbtc
Bitcoin (BTC) In A Pole Position To Soar After Trump’s Recent Remarks

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Cuba Reportedly Evaluating Crypto in the Wake of Sanctions

When the U.S. imposes economic sanctions, the effects can be crippling for the affected countries.

One such country to come under the United States’ fire is , whose economy is crippled in large due to the economic war that’s intensified under President Trump. And is reportedly studying as an alternative to its devalued fiat currency as a method of evading these sanctions and boosting its dying economy, according to SBS News.

Besides the sanctions from Washington, D.C., Cuba’s economy has also suffered from a reduction in the aid it used to receive from Venezuela, which is dealing with its own hobbled economy, as as dwindling exports. However, of letting his country spiral into economic turmoil, it that President Miguel Díaz-Canel is taking proactive steps to ensure his country’s economic viability. 

In his announcement, Canel reportedly said that the government’s crypto plan will boost national production, which in turn will catalyze economic growth for as long as the sanctions persist.

The post Cuba Reportedly Evaluating Crypto in the Wake of Sanctions appeared first on Bitcoin Magazine.


Source: bitcoinmagazine
Cuba Reportedly Evaluating Crypto in the Wake of Sanctions

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Crypto Ambitions Rise in Cuba to Curb Economic Crisis

The number of countries facing economic woes is rising dramatically. In order to mitigate the impact of inflation, nations are looking towards cryptocurrency as one possible solution and Cuba is the latest to turn to digital assets.

Cuba Crypto

As part of a series of measures to boost its economy the Cuban government said that it was looking into the use of cryptocurrencies. The move comes amid a deepening crisis exacerbated by US sanctions which appear to be spreading across the globe as Trump deepens economic embargoes.

The island nation’s state run economy is crumbling due to a decline in Venezuelan aid, lower exports, and tightening of sanctions to a Reuters report. President Miguel Diaz-Canel announced the measures on state-run TV this which will also raise income for around a quarter of the population and deepen market reforms.

Economy Minister Alejandro Gil Fernandez said:

“We are studying the potential use of cryptocurrency … in our national and international commercial transactions, and we are working on that together with academics,”

There were no further details or specifics on whether Cuba would be developing its own state crypto, similar to Venezuala’s Petro, or would be looking towards existing digital currencies.

Venezuela is facing a similar problem as hyperinflation is devaluing the national currency on a daily basis. Just last week the Banco Central de Venezuela printed more new notes in 10,000, 20,000 and 50,000 bolivar denominations. The state announced the launch of a new re-denominated Bolivar which shaved five zeros off the national currency during last year’s monetary reform.

Venezuelans has flocked to Bitcoin as an alternative hedge according to Coin Dance. Volumes have surged to all- highs of over 46 billion in weeks as bitcoin hit new highs for fifteen months.

McAfee to the Rescue

Crypto warlord John McAfee was quick to offer his services to the Cuba government if and when it proceeds with its crypto ambitions.

“Cuba is planning to use Cryptocurrency to get around the 63 years of economic strangulation imposed upon 14 million Cuban people by the insanity of the US Government. Finally, a large scale, real world application for Cryptocurrencies. If Cuba wants my help, I am .”

McAfee is currently holed up somewhere in Havana, on the run from the far reaching tendrils of the US tax department. US regulators are still wary of nations attempting to evade sanctions by using crypto currencies and may well look unfavorably upon them at home.

As president Trump continues to flex his economic muscles the number of nations looking to distance themselves from America and its dollar is growing. Cuba is the latest and it joins the ranks of Russia, Venezuela, Iran and China in the ever expanding list of sanctioned countries.

Image from Shutterstock

The post Crypto Ambitions Rise in Cuba to Curb Economic Crisis appeared first on NewsBTC.


Source: newsbtc
Crypto Ambitions Rise in Cuba to Curb Economic Crisis

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As Brazil’s Economy Risks Recession, Regulators and Banks Implement Blockchain

loves crypto, regulators and banks are looking toward understanding and regulating it


: cointelegraph
As Brazil’s Economy Risks Recession, Regulators and Banks Implement Blockchain

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As Brazil’s Economy Risks Recession, Regulators and Banks Implement Blockchain

Brazil loves crypto, so and banks are toward understanding and regulating it


Source: cointelegraph
As Brazil’s Economy Risks Recession, Regulators and Banks Implement Blockchain

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French Minister of Economy to Ask for Guarantees From Facebook In Regards to Its Forthcoming Coin

n Minister of the Economy and Finance, Bruno Le Maire has raised concerns about Facebooks forthcoming stablecoinn
Source: cryptscout
French Minister of Economy to Ask for Guarantees From Facebook In Regards to Its Forthcoming Coin

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