Price analysis 9/16: BTC, ETH, XRP, DOT, BCH, BNB, LINK, CRO, LTC, BSV

Bitcoin and a few altcoins have broken above key resistance levels, which suggests that the bulls are attempting to take control of the market. This week MicroStrategy, a Nasdaq-listed company, announced that it had added 16,796 Bitcoin (BTC) to its existing holding of 21,454 Bitcoin. This means in less than a year the firm has amassed 38,250 Bitcoin. This is a defining moment as MicroStrategy becomes the first public company to adopt a Bitcoin standard.  Other large companies may follow in MicroStrategy’s footsteps but they are likely to purchase at…

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Hydra’s ‘Complex Drug Delivery System’ in Russia Overshadows Western Darknet Markets

On September 14, the blockchain analysis firm Chainalysis reported on the infamous Russian darknet marketplace (DNM) known as Hydra and noted the DNM is Eastern Europe’s “sixth-largest service by volume in the region.” Moreover, the report also reveals that Hydra has created a “complex drug delivery system” inside Russia and throughout various countries in Europe as well. Russia’s Hydra Market: The 6th Largest Crypto Service by Volume in Eastern Europe At the end of August, the darknet marketplace (DNM) community said goodbye to the Empire Market, which unexpectedly decided to…

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Fed expects near 0% interest rates for years, potentially boosting BTC’s value proposition

Bitcoin keeps looking better and better each time the U.S. devalues its own currency. The U.S. Federal Reserve’s game plan going forward includes short-term interest levels between 0% and 0.25%, as decided by Fed brass in a Sept. 15 and 16 gathering.  The independent body plans to maintain low interest rates in order to increase inflation, based on a Sept. 16 report from CNBC. Such news shines a light on Bitcoin as a store of value. The blockchain-based currency is largely immune to such actions, as it is protected against…

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Programmable money: How crypto tokens could change our entire experience of value transfer

Covid-19 stimulus payments “could have been done in a few seconds, at no (distribution) cost. It would have been a no-brainer.” Programmable money (PM) is in the air. It may be the next stage in the evolution of money. And it could be as disruptive as any financial technology in development today. Yes, China is close to launching the first central bank digital currency (CBDC) at scale perhaps within the next 12 months but if so it will be eclipsed before the decades end by CBDC 2.0, i.e., digital currency…

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Bitcoin will continue appreciating, although at a slower pace than in the past, Bloomberg analyst explains

According to senior commodity strategist at Bloomberrg Mike McGlone, Bitcoin’s limited supply and increasing adoption will lead to steady, although gradual, appreciation. Mike McGlone, Senior Commodity Strategist at Bloomberg, is convinced Bitcoin will continue to appreciate thanks to its fixed supply coupled with increasing demand.  “I don’t see what [could] make it stop doing what [it’s] been doing for the last 10 years. And that’s going up”, he told Cointelegraph in a recent interview.  McGlone sees Bitcoin’s capped supply as the main feature. He said that this potentially makes it…

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MicroStrategy’s now-bullish CEO explains why he bashed Bitcoin back in 2013

He was shocked that the comment had been uncovered at all. Back in 2013, Michael Saylor, CEO of business intelligence giant MicroStrategy, posted a tweet against Bitcoin (BTC), forecasting a grim future for the asset. Fast-forward to 2020, during which Saylor’s company now holds a major bullish position in BTC. #Bitcoin days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling. — Michael Saylor (@michael_saylor) December 19, 2013 “I literally forgot I ever said that,” Saylor told Morgan Creek Digital co-founder…

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Kind of a big dill: Pickle.Finance TVL exceed $347M in 4 days

Investors are salivating for pickles after DeFi protocol Pickle.Finance locked $347 million in it’s liquidity pools. Food-related DeFi projects have slowly taken over crypto in the last quarter, with many of these projects suffering from contentious issues, like the Uniswap fork, SushiSwap’s vampire attack, and the market dump of $13 million worth of Ether (ETH) by lead developer Chef Nomi.  Then there’s the infamous Hotdog DeFi meme coin which dumped 99.9% hours after listing. These quick pump and dump style projects have the capacity to give DeFi a bad name…

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New US Treasury sanctions on Russian hackers hit Monero address

The U.S. government is charging ahead in its pursuit of privacy tokens, according to its latest sanctions. Per its Wednesday additions to its list of sanctioned individuals, the United States Treasury Department is targeting Monero (XMR) addresses. Russian nationals Dmitriy Karasavidi and Danil Potekhin have become the newest names on the specially designated nationals list. According to the Treasury’s announcement on the subject, the two engineered an elaborate phishing campaign targeting U.S. citizens in 2017 and 2018. Both parties had a number of cryptocurrency addresses including Bitcoin (BTC) and Ether (ETH), as well…

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49 US States Unveil Unified Regulation for Cryptocurrency Firms

The Conference of State Bank Supervisors, representing regulators from all U.S. states and territories, has launched a new regulatory framework for payments and cryptocurrency companies. One Set of Rules for All US States Regulators in 49 U.S. states have agreed to a single set of supervisory rules for money services businesses, including cryptocurrency service providers. State regulators supervise 79% of all U.S. banks. The new regulatory regime for money services businesses launched by the Conference of State Bank Supervisors (CSBS) on Tuesday will help companies expand across U.S. states and…

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Bitcoin price finally breaks $11K as traders assess BTC’s next move

The price of Bitcoin surged past $11,000 for the first time in 13 days as traders discuss where BTC is headed next. The price of Bitcoin (BTC) broke above $11,000 at last, after 13 days within a tight range. But this time, the market dynamic is different because Ether (ETH) and most decentralized finance tokens are declining.  As Bitcoin rose to as high as $11,024 on Coinbase on Sept. 16, Ether, DeFi tokens and the majority of altcoins stayed stagnant. The contrasting performances between Bitcoin and the rest of the…

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