Cryptocurrency News Cast For July 11th 2020 ?

Cryptocurrency News Cast ๐Ÿ“ฎ 11-07-2020


๐Ÿ“ˆMarketCap:                     $272 B
๐Ÿ“Š24h Mcap %:                     0.35%
⚠️Bitcoin Dom:                    62.50%
๐Ÿ“ŒActive Coins:                   3,304
๐Ÿ“24h Vol %:                        -5.80%
๐Ÿ’ฒ24h Vol:                            $50 B

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- Malaysian Shariah Council Permits Crypto Investing and Trading

The Shariah Advisory Council of the Securities Commission Malaysia (SC) reportedly revealed its position on cryptocurrency trading in the country at the Invest Malaysia 2020 event this week. SC chairman Datuk Syed Zaid Albar has advised that it is permissible to invest and trade cryptocurrencies on registered crypto exchanges. About 60% of the country’s population are Muslims, many of whom have been reluctant to trade crypto in fear that it might not be Sharia-compliant. Read Full on Bitcoin News.

- Plan B Analysis: 84% Poll Respondents Holding Or Buying Bitcoin

The prominent analyst and the Bitcoin stock-to-flow analysis creator Plan B has stated that 84% of respondents in his recent poll said they have been buying or holding Bitcoin. The analyst reveals that only 3.9% have been selling BTC and a little over 12% do not have a Bitcoin position. Plan B shared that the number of those who are bullish on Bitcoin among his followers (i.e. buying and holding) is much larger than those who are selling or do not have any Bitcoin positions. Read Full on twitter.

- Mike Novogratz: Every Major Bank Will Have Crypto Trading Desk

Mike Novogratz, the CEO of Galaxy Digital, predicts that every major bank is going to have a crypto trading desk. He claims that the likes of Goldman Sachs, Barclays, and Deutsche Bank will be forced to embrace Bitcoin due to growing demand from their customers. He told, "At one point, these guys will get squeezed in the market, cause the clients will demand it." Novogratz notes that Bitcoin is still being dominated by the retail sector even though institutional investors are slowly dipping their toes into it. Read Full on U.Today.

- Tuur Demeester Goes Long On Ethereum

Prominent Bitcoin advocate Tuur Demeester has changed his mind on the merits of holding Ethereum (ETH) and has bought in after five years of slamming Bitcoin’s closest rival. Demeester, an analyst and co-founder of crypto investment fund Adamant Capital, told “ETH/BTC technicals are looking bullish so I’m long". His recent statement doesn’t mean he's shifting wholeheartedly from Bitcoin to Ethereum. He emphasized that he’s still a Bitcoin believer, and retains plenty of reservations about Ethereum. Read Full on Decrypt.

- Kraken: Bitcoin’s Correlation With Gold Is Weakening

Kraken’s June 2020 Bitcoin Volatility Report posits that bitcoin (BTC) annualized volatility crashed to a 6-month low of 51 percent and a reversal in the coin’s bullish trend increased its correlation with the S&P 500. The report shows that the lackluster market activity of bitcoin in June increased the digital asset’s correlation with traditional investment vehicles like the S&P 500 from 0.13 to 0.52, while bitcoin's correlation with gold has lightly decreased from 0.50 to -0.49. Read Full on kraken.

- New Investors Buying Ethereum As Number Of Wallets Increases

As per the recent data of Glassnode, the amount of non-zero ETH wallets has risen by 1,069 in less than one day. The number of ETH wallets has hit an ATH of 43,176,135 as compared to previous high of 43,175,066 registered earlier. Glassnode also revealed that new ATHs value of 1,079,632 have been reached in the number of wallets holding 1+ ETH, which shows that new investors are buying Ethereum in small amounts and ETH adoption is expanding. Read Full on U.Today

- Bitcoin App Bottlepay Relaunching With a New Lightning App

The social Bitcoin payments app Bottlepay aims to relaunch in the next few weeks, after shuttering due to regulations in December 2019. Bottlepay remodeled its whole product to comply with EU regulations. Roughly 1,000 people are now on the waitlist for the app's relaunch. Bottlepay co-founder Pete Cheyne said, “We’re also adding in the ability to have scheduled payments to buy more bitcoin and Lightning works in the background, without users having to manage channels”. Read Full on CoinDesk.

- Over 13,000 Bitcoin Addresses Hold Over $1 Million in Bitcoin

According to data from Glassnode, there are over 13,000 Bitcoin (BTC) addresses that are worth at least $1 million. At the current prices, it takes about 107 BTC for an address to become a dollar millionaire. The number of addresses with balances of over $1 million hit a record high during the 2017 bull run. Since this metric is tied to the dollar value of Bitcoin, it has a lot of fluctuations. For comparison, there is very little volatility in the number of addresses with at least 100 BTC. Read Full on cointelegraph.

- Mountain Bike Race Winners Will Be Rewarded In Bitcoin

Around 150 mountain bikers will compete at this year’s edition of the Munga MTB race backed by Bitstamp Bitcoin Exchange that will begin in the first week of December in South Africa. The top three finishers in each category - men, women and non-white bikers - will share the 1.5 bitcoin in prize money. Each category is awarded 0.5 bitcoin that will be split between the top three finishers. The 1.5 bitcoin goes to a Munga Bitstamp account. The prize winners can choose to hold their bitcoin, or instruct them to sell. Read Full on Bitcoin News.

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