Day: May 18, 2021

1.1M noobs panic sell, but Bitcoin hodlers DGAF

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While new entrants to Bitcoin markets have been panic selling at a loss, the recent market slide has not vexed the old hands. Heavy selling in response to hints from Elon Musk that Tesla may soon sell its BTC stash saw Bitcoin prices tumble to their lowest levels in 20 weeks as the markets found support near $42,000 on Monday, May 17. According to on-chain analytics provider, Glassnode, the crash predominantly saw newer traders exiting from their positions at a loss while long-term hodlers stood their ground. Glassnoded noted Bitcoin’s…

Bitcoin Aims Strong Recovery, Here’s A Key Pattern For Short-term Bottom

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Bitcoin price is likely forming a double bottom pattern near the $42,150 zone against the US Dollar. BTC is showing positive signs and it could climb towards $47,000. Bitcoin is finding a strong buying interest above the $42,000 and $42,150 support levels. The price is still trading well below $47,000 and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $44,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely forming a short-term…

EY invests $100 million to expand blockchain product suite, launches DeFi contract simulator

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“Big Four” accounting firm, Ernst & Young Global Limited, or EY, is continuing to invest heavily in blockchain, investing $100 million into engineering and developing distributed ledger technologies for a range of enterprise applications. On May 17, EY revealed its second-generation of Smart Contract & Token Review tools through its EY Blockchain Analyzer product suite, including a testing studio allowing simulated smart contract execution for complex decentralized finance, or DeFi, applications. “The new iteration supports multiple new capabilities that are expected to be used in complex DeFi contract ecosystems,” EY…