🗞 Daily Crypto News, February, 24th 💰

in #bitcoin • 4 years ago (edited)

  • Bitcoin Price Grapples With $10K — 2 Scenarios for the Week Ahead ;
  • In Defense of Justin Sun ;
  • On EOS Blockchain, Vote Buying Is Business as Usual ;
  • Central Bankers From Canada, Netherlands, Ukraine Call Blockchain Unnecessary for Digital Fiat;
  • How Traders Can Use Twitter to Anticipate Bitcoin Price Moves, Volume ;
  • 🗞 Daily Crypto Calendar, February, 24th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Bitcoin Price Grapples With $10K — 2 Scenarios for the Week Ahead

Bitcoin (BTC) bears took their pound of flesh last Wednesday. However, was this simply a long-overdue correction that was needed for Bitcoin to continue to rally to fresh highs?

Today I’m going to look at the two scenarios that could play out next week.

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The bearish scenario for Bitcoin price

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The bullish scenario for Bitcoin price

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🗞 In Defense of Justin Sun

Alexander S. Blum is Chief Operating Officer of Two Prime. He has led blockchain projects and startups for more than seven years, including at Atomic Capital, crypto hedge funds, and consulting projects at Fortune 500s, the World Economic Forum and prominent blockchain start-ups.

I recently had the good fortune to attend the 2020 Satoshi Roundtable in Playa Del Carmen, Mexico. While there, I met TRON Founder and CEO, Justin Sun. I also witnessed the social media feeding frenzy that ensued as prominent crypto Twitter influencers posted trolling tweets with him. It was really fun. To many, Justin and TRON epitomize a class of useless altcoins – superficial marketers perverting crypto’s “true” purpose. There are oft-repeated claims that Justin and his team plagiarized their white paper and that TRON has no value as a technology. Yet, TRON currently hovers around a $1.3 billion market cap, already acquired BitTorrent and Steemit, and Justin and friends recently palled around with Warren Buffet. What the hell?

I’ve seen a wide breadth of this industry after seven years, working at traditional and blockchain VC funds, leading security token business Atomic Capital, and now as the COO of crypto finance firm, Two Prime. It may seem baffling that this 29 year old wunderkind leads one of the largest blockchain networks in the world. However, when you approach the spectacle of TRON and Justin Sun with a traditional financial lens, you start to see that maybe all the flack TRON receives points to something else – an industry lost in theoretical achievements to the detriment of practical ones.

🗞 On EOS Blockchain, Vote Buying Is Business as Usual

Buying votes is a big no-no in traditional democracies, but on the world’s eighth-largest blockchain it’s become an accepted way of doing business.

A new service makes it easier for EOS block producers, the nodes elected by holders of the cryptocurrency to validate transactions on the network, to share their block rewards with those who voted for them. The service, known as Genpool, was introduced this month by GenerEOS, which itself is a block producer candidate.

Back when EOSIO, the software powering the $3.7 billion EOS chain, was just an idea, the crypto community debated whether delegated proof-of-stake, or DPoS, would lead to validation candidates effectively bribing users to support them. (DPoS is a consensus mechanism that limits the number of node validators to a fixed set.) Early on, the EOS community believed it could prevent such activity.

🗞Central Bankers From Canada, Netherlands, Ukraine Call Blockchain Unnecessary for Digital Fiat

KYIV, UKRAINE — Central bank digital currencies (CBDCs) have been a hot topic in blockchain circles recently, but central banks are lukewarm about blockchains.

Representatives of a number of the world’s central banks discussed their CBDC projects last week in Kyiv, Ukraine. The one-day conference was arranged by the National Bank of Ukraine, or NBU, which itself is a CBDC pioneer, having run its own digital currency pilot in 2018.

The central bank wanted to test its ideas and conclusions with the banking community and stimulate the discussion, the head of its innovative development department, Roman Hartinger, told CoinDesk. The speakers included representatives of NBU’s peers from Canada, Japan, Lithuania, Finland, Netherlands, Belarus, Uruguay and South Africa.

The discussion comes at a time when the world's two largest economies, are each seriously exploring the possibility of issuing a CBDC, although China appears to be much further down the road than the U.S.

🗞 How Traders Can Use Twitter to Anticipate Bitcoin Price Moves, Volume

Bitcoin (BTC) price has been testing the $10,000 mark this month as online metrics like the number of tweets and Google searches mentioning Bitcoin show a two year-high.

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Several relationships have been established between external factors and Bitcoin price evolution. Most notably, social media metrics like the number of tweets mentioning a particular cryptocurrency, the number of comments or posts in a cryptocurrency dedicated subreddit, the number of daily search volume for a specific crypto theme, or even the mentions of “Lambos” on Reddit.

Sentiment analysis from this kind of data can help investors attempting to predict returns, thus making it a novel approach for traditional investors.

Looking at the daily number of tweets mentioning Bitcoin since 2017, there is a clear spike during the 2017 bull-run. On Dec. 7, 2017, there was a record-high of 155,600 tweets mentioning Bitcoin. Following that spike, throughout 2018 and 2019 the average number of tweets reduced substantially, although there was a small spike on June 26 during the peak of Bitcoin’s smaller bull run in 2019.

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🗞 Daily Crypto News, February, 24th💰

  • General Event (CRYPTO), Pundi X (NPXS), Pundi X NEM (NPXSXEM), XRP (XRP)

MWC Barcelona from February 24 - 27 in Barcelona, Spain.

  • Azbit (AZ)

"The next burn is scheduled for February 24, 2020."

  • Vexanium (VEX)

Vexanium Goes to Campus visit Yogyakarta and deliver a topic about Industrial Revolution 4.0.

  • Ocean Protocol (OCEAN)

"Legal Design and Token Engineering" in Berlin from 6:30 PM - 8:30 PM.

  • HedgeTrade (HEDG)

"We'll be doing a scheduled maintenance on Monday, February 24th at 7:00 am MST."

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

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Here is the current chart :

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We are staying inside the trading range between the resistance line around 0.23$ and the support line at 0.21$. I love this kind of pattern where we are consolidating between 2 lines like that after some nice moves. Be sure that when we will go out of that range, we will for sure have the start of another nice move. Let's just hope it will be a UP move.

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Last Updates

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4 years ago in #bitcoin by
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     4 years ago 

    @tipu curate

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     4 years ago 

    Thank you ! I am glad you liked it.

    Best,

    @vlemon

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       4 years ago 

      Oh yes! Good job! 😉

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        [-]
         4 years ago 

        Hi @vlemon!

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        Your UA account score is currently 4.820 which ranks you at #1469 across all Steem accounts.
        Your rank has dropped 1 places in the last three days (old rank 1468).

        In our last Algorithmic Curation Round, consisting of 92 contributions, your post is ranked at #10.

        Evaluation of your UA score:
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