Archiv der Kategorie: blockchain sectors

Bitcoin price falls below USD 9,000 amid heavy losses in the futures market

The Bitcoin price (BTC) fell below USD 9,000 on June 15, while a new week produced new selling pressure on macro assets.

Cryptocurrency market daily overview

Bitcoin price tests resistance level of USD 9,000
Data from Cointelegraph Markets and CoinMarketCap showed that the BTC/USD entered the $8,000 range in Monday’s trading for the first time since May 28.

It doesn’t matter, Coinbase, Big Brother’s already looking at your coins

The latest downward movement follows a difficult week for Bitcoin in which the markets almost recovered the $10,000 level before losing $800 in a matter of hours on Thursday.

After spending the weekend around the $9,400 level, the support level dropped once again as the outlook for the week in the stock markets seemed bleak.

At the close of this edition, the BTC/USD traded around USD 9,000 in an attempt to reset the support level.

Someone is buying Grayscale Ether Trust shares for over $2,000

Bitcoin 1-day chart

Bitcoin price chart for 1 day Source: CoinMarketCap

Stocks wobble before the prediction of the „fall“
On Sunday, only Dow Jones futures fell 900 points, although the US markets were equally uncertain before the opening.

As reported by Cointelegraph, Bitcoin has become increasingly resistant to the impact of dramatic stock rises or falls, a process that has become known as „decoupling.

In 2020 alone, Tether created $5 billion and most of its tokens went to China
However, there are still signs of correlation, and Corona Millionaire is now at its lowest point in more than two weeks. A warning came last week that traditional markets should have a drop-style correction in the next three weeks.

At the same time, Cointelegraph analysts suggested that the USD 10,000 level would continue to evade the market in the short term, and perhaps even longer.

The Gold Rush of the Blockchain Hackathons

Hackathons and incubators, which were originally reserved for up-and-coming tech entrepreneurs, are now opening their doors to blockchain projects.

Bitcoin and Blockchain fanboy market and the news spy

Of course, the blockchain sector is still in its infancy. Nevertheless, the advent of blockchain hackathons and startup incubators has brought about a major change in the adoption of this technology.

The previous strategy of many Bitcoin companies was the news spy to first address the Bitcoin and Blockchain fanboy market. The hope in this business strategy is to gain enough momentum to be accepted by the mainstream.

Scott Robinson, Vice President of Plug and Play Fintech, Scott Robinson, as the founder of an incubator, has met a number of startups who want to revolutionize existing technologies based on the blockchain. He believes that this strategy will not work:

„Ultimately, the channel through which a novel financial application reaches many customers is through the major players in the financial landscape.

The Accelerator Plug and Play

Entrepreneurs in the Bitcoin and blockchain sectors have recognized these problems. They hope that hackathons, which are often organized by large companies in the financial sector, can be used to build networks with them.

The fact that hackathons are helpful in building such networks has long been recognized by startups in other industries.

The Accelerator Plug and Play helps startups to do this and has been working in this context since 2014 with 96 very young companies, many of which are still in the start-up phase.

However, the work of the Accelerator is also worthwhile for large companies: cooperation with hackathons and incubators helps them to come into contact with a new type of technology without having to make large investments of their own. This also allows their established business to grow.

More and more large companies are taking advantage of this opportunity. Capital One, to give one example, organized a hackathon in San Francisco in July 2015 together with Chain. At this event, 70 employees were flown in to work together with Blockchain experts on blockchain-based solutions.

Hackathons like Capital One’s „bring those who know a lot about finance, but little about the blockchain, together with their counterparts, the blockchain experts without a large financial background,“ says Robinson.