Bitcoin’s Safe Haven Status Now More Relevant Than Ever

Bitcoin has consolidated its safe-haven status especially amid the mass demonstrations in Hong Kong and global uncertainty, Circle CEO Jeremy Allaire hinted in an interview with CNBC’s Squawk Box. Circle CEO Sees Increased Demand from Holders On August 19, Circle’s Allaire said that investors were still attracted by non-sovereign digital assets such as Bitcoin. The coin’s safe-haven status becomes more evident despite the recent bearish mood. Last week, Bitcoin broke below the $10,000 on Thursday and again on Friday. The coin hit the weekly low on August 15 at $9,685,…

Bitcoin Price Analysis: BTC Rally Set For $12,000 Next Week

Over the last 5 days, Bitcoin has bounced off the 0.382 Fibonacci level as mentioned in my previous analysis. Since then price levels have risen sharply testing resistance just shy of $11,000. An influx of new volume could propel price levels to $12,000 next week. Bitcoin 1-Hour Analysis On the 1 hour chart for XBT/USD, we can see the formation of the recent ascending wedge. Similar to a rising wedge, however different in the sense that ascending wedges form prior to a down-trend and rising wedges form prior to an…

Another Case For Bitcoin as Billions Vanish From Savings Accounts Ghana

As many as 70,000 people could be facing financial ruin as a massive crackdown sweeps across Ghana’s banking system. It serves as yet another stark warning that governments and banks are in full control of people’s money. Only decentralized assets such as bitcoin would be immune from such monetary madness. State ‘Cleanup’ Wipes Out Billions According to reports a massive ‘cleanup’ of Ghana’s banking system has left tens of thousands of people wondering where their savings have gone. The crackdown has reduced the number of lenders by a third, and…

Ethereum ‘Almost Full’ Says Vitalik Buterin As Bitcoin Dev Slates Supporters

Ethereum naysayers were out in force as the week began after co-founder Vitalik Buterin warned that the network’s blockchain was “almost full.” Buterin: ETH ‘Already Expensive’ In an interview with Canadian mainstream news outlet The Star, Buterin, discussed the future of Ethereum, along with the problems cryptocurrency faces on the path to broader adoption.  Using his project as an example, Buterin said that capacity on the Ethereum network was nearing its maximum, and that continued new users would push up fees.  “Scalability is a big bottleneck because the Ethereum blockchain…