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🗞 Daily Crypto News, February, 9th💰

76
5 years ago
in#bitcoin

  • Bitcoin Breaks Above $10,000 in Spot Market;
  • FAANG Stocks Provide a Better Risk-Adjusted Performance Than Bitcoin;
  • Anthony Pompliano Believes Bitcoin Price Climb to $100K Has Started ;
  • Beware! CBDC Has Serious Privacy Implications ;
  • BSV and BCH Are Surging With Their Halvings a Month Before Bitcoin;
  • 🗞 Daily Crypto Calendar, February, 9th 💰
  • STEEM Trading Update

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

🗞 Bitcoin Breaks Above $10,000 in Spot Market

The top cryptocurrency crossed above $10,000 at 04:10 UTC and printed a high of $10,176 during the early European trading hours. That was the highest level since Oct. 26, according to CoinDesk’s Bitcoin Price Index.

At press time, bitcoin is changing hands at $10,130, representing 3 percent gains on a 24-hour basis.

The move above $10,000 is accompanied by an improvement in the on-chain fundamentals and looks sustainable. “This breakout is the real deal. Fundamental investment activity is backing this $10k breakout,” Willy Woo, partner at Adaptive Capital, tweeted early Sunday.

🗞 FAANG Stocks Provide a Better Risk-Adjusted Performance Than Bitcoin

Bitcoin (BTC) and other cryptocurrencies have been compared to FAANG (Facebook, Apple, Amazon, Netflix and Google) companies due to their network effects, as reported by Cointelegraph. The rationale that the increase in people using a platform makes its value increase exponentially — as it happens with Facebook or the App Store — is applied to cryptocurrencies at large: The more people that hold a crypto asset, the bigger increase in market value.

Further reports have suggested that these companies intend to launch their coins after Facebook’s Libra introduction to the market. Some of these companies have been the darlings of the stock market, but recent shifts in consumer preferences show that a segment of the population (i.e., millennials) already prefer investing in Bitcoin instead of FAANG stocks like Netflix. While this is intriguing, the question is: Are investors better off investing in Bitcoin and other cryptocurrencies than in FAANG stocks?

🗞 Anthony Pompliano Believes Bitcoin Price Climb to $100K Has Started

Bitcoin price has surpassed $10,000 on Feb. 9, breaking its key psychological level and in doing so reached its highest point since October last year.

But to many, $10,000 is just the beginning before the top cryptocurrency reaches a much higher level. Anthony Pompliano, co-founder & partner at Morgan Creek Digital believes that Bitcoin’s price can hit $100,000 at the end of 2021 due to limited supply and increased demand:

“Bitcoin just hit $10,000. I still think that Bitcoin will hit $100,000 by end of December 2021.

Fixed supply. Increasing demand. Time will tell.“

This has been significant news to the Bitcoin holders as crypto analyst Willy Woo commented earlier today on Twitter:

“This breakout is the real deal. Fundamental investment activity is backing this $10k breakout.”

🗞 Beware! CBDC Has Serious Privacy Implications

The widespread use of cryptocurrency as an alternative method of payment has led to a growing digital ecosystem over the years. Governments are behind the curve, continuing to wrestle with how to develop effective public policy measures to regulate its use.

The Bank of Canada has been actively exploring the option of a central bank digital currency (CBDC) to address the perceived threat of cryptocurrency for several years. This national digital currency would be centralized, meaning that the bank would be able to monitor and regulate the transactions within that network.

Cryptocurrency is a decentralized digital currency that relies on the application of cryptography to conduct financial transactions and protect against counterfeit and fraud. Cryptocurrency is an alternative to sovereign currencies that are issued by state governments, like the Canadian dollar.

🗞 BSV and BCH Are Surging With Their Halvings a Month Before Bitcoin

Recently, Bitcoin (BTC) has been picking up momentum as the halving in May 2020 moves closer. However, large-cap Bitcoin forks namely, Bitcoin SV and Bitcoin Cash, will have their own halvings in April and the effects are already showing. This year, they gained 270% (BSV) and 132% (BCH) already, compared to Bitcoin’s 40%.

Bitcoin SV breaks out of downtrend

https://s3.cointelegraph.com/storage/uploads/view/8ea4123b2525fba2e6a67db92a5215f6.

🗞 Daily Crypto News, February, 9th💰

  • nDEX (NDX)

"... Old NDX to new NDX swap is started. Daily we do 100 acc swap at a time."

  • GoByte (GBX)

GoByte Mixing Sunday, where community gathers on GBX Discord and Telegram groups to mix GBX funds.

  • Digitex Futures (DGTX)

"Today's AMA with our CEO Adam Todd will be rescheduled for tomorrow 9th Feb at 4 pm GMT."

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

Yesterday, I was talking to you about a possible bull flag, it has been invalidated today but we are still in a descending triangle which is not a so bad pattern. We should have the decision from the market very soon as we are approaching of the appex so let's see in which direction the break out will take place.

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Last Updates

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5 years ago
vlemon76
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