Bitcoin price is proving nothing but the roller coaster in last 24 hours. Earlier in the week, BTC swiftly dropped by 10% after failing to hold above the $8,000 support.
By Thursday, BTC/USD was sitting on the bottom trendline of the descending channel and many investors and analysts were calling for a drop to $7,000.
$6,500 was predicted by few traders, despite this fluctuations in Bitcoin price, traders like Scott Melker and Michaël van de Poppe spotted a series of bullish divergences on the 4-hour and daily time-frame and by Friday morning (Oct. 25) the chart and various indicators on the hourly and 4-hour time-frame were flashing bullish.
Surprisingly, Bitcoin bulls gathered up enough steam and towards the evening of the U.S. trading session bulls pressed Bitcoin price far above the $8,800 resistance to set a higher high at $10,540.
Currently, the crypto community is pointing to Chinese President Xi Jinping’s call for the development of blockchain technology throughout the country. Bakkt’s Bitcoin futures back to back all-time high volume achievements are also being cited as a reason for Bitcoin’s surge.
On Sept. 24. French crypto news outlet Cryptoglobe reported the development during Paris Retail Week, By the year 2020, More than 25,000 major retail stores in France, including sportswear giant Decathlon and cosmetics store Sephora will accept Bitcoin.
The new cryptocurrency payments system is launching via a partnership between point-of-sale technology provider Global POS, the EasyWallet application and payments platform Easy2Play. At the moment of sale, Bitcoin (BTC), funds will be automatically converted into euros.
There are few others who have joined in this initiative. Well-known retailers signing on to the initiative include Boulanger, Foot Locker, World House, Intersport, Cultura, Maisons du Monde, and Norauto.
Stéphane Djiane, CEO and founder of Global POS, has given a statement proposing that:
“This is an important symbolic step in the evolution of payment methods in France. However, more than a symbol, what we bring to 25,000 outlets is the ability to safely enter the world of Economy 3.0.”
According to Forbes, China’s central bank is ready to launch a state-backed cryptocurrency and hand it out to several major institutions in the country.
Some of the Institutions are Commercial Bank of China, Alibaba and Tencent to help distribute the cryptocurrency into the country’s economy.
According to Forbes‘ sources, the plan is to launch the digital currency as soon as Singles Day on November 11, China’s busiest shopping day.
China’s central bank is hoping to eventually spread the currency to the West through participating banks — but it’s unclear if and when that will occur.
Cryptocurrency and telecommunications company Telx Technologies announced the launch of the first crypto SIM card wallet that enables transactions via SMS.
On Aug. 22, The company published a post explaining how this will work, the card allows its users to send cryptocurrencies via SMS with their dedicated crypto phone number. The thing to note here is, these transactions do not require a smartphone or an active Internet connection. On the other hand, the system also offers no control over a user’s crypto wallet.
Telx also mentioned this in its announcement: “At Telx our goal is to make transacting digital currency as easy and accessible as possible. This means creating solutions that technical and non technical people alike can adopt. We believe there is tremendous synergy between payments and messaging.”
According to the post, the crypto SIM card is available in over 180 countries, allows unlimited SMS messaging and supports Bitcoin (BTC), Litecoin (LTC), DASH, Zcash (ZEC) and Bitcoin Cash (BCH). To execute a crypto transaction via this service, its user can send an SMS to any phone number.
The company promises to prevent SIM swapping and phone number porting, to accept transactions originating only from the proper SIM card, to protect the wallet with a dedicated PIN number and to provide backup keys in case of a theft or loss.
Binance recently revealed it’s open blockchain project “Venus” focused on developing localized stablecoins worldwide.
In an announcement on Aug 19, Binance argues it is well-positioned to launch such a currency ecosystem in light of its existing public chain technology, Binance Chain, wide user base and already established global compliance measures.
Binance is looking out for partnerships with governments, corporations, technology firms, and other cryptocurrency and blockchain projects in order to develop a new currency ecosystem that will empower both developed and developing countries.
As per the report, Binance’s vision for the project, is to “build a new open alliance and sustainable community” that enlists partners who wield influence on a global scale.
With its choice of name, “Venus,” Binance is also stepping into the astrological waters of both Facebook’s Libra project and the Winklevoss Twins’ Gemini exchange and Gemini dollar.
While Donald Trump is busy bashing Bitcoin, New Zealand’s tax authorities have ruled that income in cryptocurrencies is legal and provided guidance on how exactly it should be taxed.
In a tax information bulletin published on July 4, the New Zealand Inland Revenue Department summarized the provisions of the public ruling, made under s 91D of the country’s Tax Administration Act 1994.
This doesn’t applies to self-employed taxpayers, it only applies to salary and wage earners, covering both remuneration for services and bonuses, commissions and gratuities.
“In the current environment where crypto-assets are not readily accepted as payment for goods and services, the Commissioner’s view is that crypto-assets that cannot be converted directly into fiat currency on an exchange are not sufficiently ‘money like’ to be considered salary or wages.”
As reported, tax authorities and lawmakers globally are increasingly turning their attention to cryptocurrencies. Last week, crypto industry sources claimed that the United Kingdom’s tax authority was allegedly requesting that digital currency exchanges provide it with information about customers’ names and transactions aiming to identify cases of tax evasion.
Bitcoin miners earned up to four times the revenue accrued by their counterparts on the Bitcoin SV and Bitcoin Cash networks combined in one day!
Bitcoin miners earned $540,000 in transaction fees. This figure is more than four times the $130,000 earned by miners on the BSV and BCH chains combined over the past 12 months, According to August 2, 2019 tweet from “Shakepay.”
BCH miners see under $200 in transaction fees per day and Bitcoin regularly posts $500,000 in transaction fees alone on a daily basis. BSV miners were still running at a loss, five months after the chain split, Back in April 2019.
The top-ranked crypto is still some way off from the likes of Visa in terms of the daily transaction load. Thus, for BCH and BSV, the distance to the pinnacle of global payments appears even more insurmountable.
This is a very good news for bitcoin traders and crypto investors! Tech Retailer Newegg Expands Bitcoin Payments to Another 73 Nations.
They made an announcement this Wednesday regarding their expansion of Bitcoin payment. They stated it will accept bitcoin in 73 additional of its country-specific stores. The news means that the cryptocurrency can be used to pay for purchases in nearly all of its 80 served nations.
They have started acception Bitcoin in 2014, soon after expanding the option to Canada.
Anthony Chow, Newegg President Global Sales said, “Five years ago, we were one of the first major online shopping destinations to accept Bitcoin, and our early-adopter customers were quick to embrace this new payment option.”
The bitcoin payments are made possible through Newegg’s partnership with blockchain payments provider BitPay.
Sonny Singh, chief commercial officer at BitPay, said in the announcement:
“Bitcoin allows users to send and receive money just as easy as sending an email, opening up opportunities for businesses and consumers globally as a secure, low-cost transactional option for the merchants. Newegg was among the first companies to see this opportunity and has continued to expand its Bitcoin acceptance to nearly all of its customers around the world.”
Starting today The blockchain ready Opera Touch browser for iOS is available for download. This follows Opera’s addition of Crypto Wallet support on Android and PC, that means Opera is now Web 3 ready across all major platforms.
“I am happy to let you know that the award-winning Opera Touch browser for iOS now features crypto wallet integration and Web 3 support. This completes our efforts to offer Web 3-ready browsers with built-in Crypto Wallet on Android, Windows, Mac, Linux and now iOS. Opera Touch for iOS lets you seamlessly interact with the next generation of Web 3 applications on the Ethereum blockchain.”
Opera has won couple of awards the Red Dot Design Award and Gold IF Design Award. Opera Touch is an innovative web browser which is used by millions.
Opera supports all ERC-20 tokens, stablecoins and non-fungible tokens (NFT). Ethereum is a popular and quickly growing protocol that allows people to make transactions and enables developers to create decentralized apps (dApps) which provide practical use for this technology.
Opera Touch for iOS with Crypto Wallet, like the Opera browser for Android, supports the Ethereum Web3 API, making interacting with dApps seamless, without the need for browser extensions.
If you wish to buy Bitcoin on Binance, then you’ll need to create an account on Binance. Binance is the most famous Cryptocurrency in the world and widely used, because of it’s extensive selection of Altcoins, which continues to grow with frequent additions. You can withdraw 2 BTC per day without any verification, it’s also supports mobile app for both iOS and Android devices.
You can get started by purchasing some BTC on Binance with a credit or debit card if you don’t own any Cryptocurrency yet.
The most convenient cryptocurrency to deposit if you want to purchase Bitcoin (BTC) is Ethereum. Once your purchase is complete, you can also use the Bitcoin you bought for trading with a big selection of other coins.
Now if you want to make a deposit, head to the navigation bar at the top, click Funds – Deposits. Search for ETH for Ethereum and select it. The website will provide you with a deposit address for the cryptocurrency you selected. The address will be alpha numeric and all lowercase. Copy the address and go to your wallet of choice. Send the amount you wish to deposit to the address you copied. The process won’t be instant, it will take upto an hour for the funds to show up on your Binance account.
If you wish to check your balance, go to Funds – Balances in the navigation bar at the top of the website. Now Exchange – Basic, if you want to place an order. Let’s assume you’ve deposited Ethereum, On the top right corner, select BTC and search for ETH, which is the ticker for Ethereum. The ETH/BTC trading pair should appear.
You can only buy BTC by placing a sell order for ETH. In this case, you will be selling your ETH for obtaining BTC.
That’s how you buy Bitcoin on Binance.
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