This week Digital Assets Data CEO Mike Alfred told Cointelegraph that mainstream investors are still “skeptical of Bitcoin and the ecosystem." However, Alfred believes that this “skepticism and disbelief” will turn out to be a positive for Bitcoin (BTC) because when the “traditional folks capitulate, they will be forced by their clients and partners to get involved at significantly higher prices." While Bitcoin has struggled to start a sustained uptrend in the past few weeks, select altcoins and tokens in the DeFi space have been in a strong bull run. This shows that traders attention has shifted away from Bitcoin. …

What are the most popular DeFi protocols running oracles? Open lending/borrowing protocols such as MakerDAO, Compound and Aave use oracles to fetch external data while running on the Ethereum blockchain. MakerDAO is among the most popular DeFi open lending protocols, and its Dai token is pegged to the U.S. dollar and backed by crypto assets. MakerDAO utilizes an oracles module to determine the real-time price of assets. The module is composed of whitelisted addresses of oracles and an aggregator contract. The oracles send periodic price updates to an aggregator that determines a median price, which is then used as a …

The President of the European Central Bank (ECB) Christine Lagarde said that the coronavirus pandemic has acted as a catalyst in boosting the adoption of digital payments in the European Union. Lagarde expects the majority of the consumers to continue using digital services even in the future. In order to support the digitalization, the ECB has formed a task force, which is “exploring the benefits, risks and operational challenges” of developing a digital euro and is expected to announce its findings within the next few weeks. While a central bank digital currency might build up consumer interest in the short-term, …

Dave Portnoy, the founder of Barstool Sports, is coming back to Bitcoin (BTC) after abruptly abandoning trading digital currencies when his Chainlink (LINK) investment went belly up. In a recent video, Portnoy said his “heart is crypto” and would make a return to the cryptocurrency market soon. The internet personality, who became a popular day trader after the coronavirus pandemic, entered the Bitcoin market on Aug. 14 after meeting with avid billionaire Bitcoin investors Cameron and Tyler Winklevoss. After receiving a quick refresher on what crypto is and how to trade it, Portnoy reportedly bought a significant amount of Bitcoin …

The short-term gyrations in crypto and stock prices are usually based on sentiment and technicals, while the long-term trends generally follow stronger underlying fundamentals. Therefore, if the fundamentals do not weaken, smart investors view short sharp corrections as a buying opportunity. Data suggests that large investors, oftentimes dubbed ‘whales’, have been accumulating Bitcoin (BTC) since March. Along with them, several new small traders have also been buying Bitcoin and this suggests that retail and high net worth traders believe that Bitcoin will work as a store of value during the next crisis. Daily cryptocurrency market performance. Source: Coin360 Morgan Stanley’s …

Corrections are healthy for the strength of an uptrend because they shake out the excess exuberance and provide an opportunity to the traders who missed the bus earlier to make an entry at lower levels. About 68 crypto investors did the same thing when they used the recent dip to purchase anywhere between 1,000–10,000 Ether (ETH). Buying against the prevailing short-term negative sentiment during a correction is not an easy task but it is generally the right thing to do if the medium-term trend is bullish. Daily cryptocurrency market performance. Source: Coin360 Tops and bottoms are confirmed only in hindsight, …

The U.S. stock markets, gold, crude oil, and crypto markets have all corrected in the past week, which shows that traders booked profits in most asset classes. The total crypto market capitalization corrected from a high of above $394 billion to a low of about $313 billion, which is roughly a 20% correction. This decline also led to a sharp fall in Bitcoin (BTC) futures open interest, which was down by $653 million on Sep. 3, suggesting squaring up of positions by a few professional short-term traders. However, even after the fall, the trend in several major cryptocurrencies has not …

The Nasdaq, S&P500 and Dow all corrected sharply on Sep. 3 and opened today with additional downside, suggesting that traders are rushing to the exit. Bitcoin (BTC) and several other major altcoins have also witnessed a strong bout of profit booking that has pulled down the total crypto market capitalization from $394 billion on Sep. 2 to about $339 billion today. Even gold, which is a traditional safe haven asset, has not been spared and lost ground in the past two days. This shows that traders are booking profits in every asset class that has run-up in the past few …

"I’m begging my crypto friends to get involved in the stock market," Portnoy, also known as Davey Day Trader, said in a Sept. 2 tweet. "Bitcoin is stuck in the mud," he explained, adding: "Let me lead you. We will get back to crypto later. The time to strike is now! No time for weak hands! Make the move!" Included in the tweet, Portnoy posted a scene from the movie "Captain America: The First Avenger" — the scene in which the main character, Steve Rogers, outsmarts his military team, pulling the pin on a flag pole to reach the flag …

The U.S. stock market continues to hit new all-time highs while gold, which acts as a safe haven asset has retreated from it's all-time highs. This suggests that there sentiment is to own risky assets. Meanwhile, Bitcoin (BTC), which at times behaves as an uncorrelated asset, remains stuck in a range. However, with the U.S. presidential elections approaching, the volatility in all the markets is likely to pick up. If President Donald Trump is re-elected, then there is unlikely to be a huge change in the current economic policies. If Joe Biden wins the election, then economists, traders and corporations …

Band is one of Chianlink’s main competitors in the oracle space that is based on Cosmos technology. In a recent Cointelegraph interview, Soravis Srinawakoon, the CEO of Band Protocol, said: “If you look at Chainlink, one data request right now can take almost $450 because someone needs to submit the request data to ask for the data. Let's say 20 data providers need to receive that, respond to that with 20 transactions, and then the aggregation contract to do all the computation before returning the final result, all of these require a lot of gas.” Srinawakoon also provided a link …

The U.S. stock market is on track to clock its best August performance since 1984. Meanwhile, Bitcoin (BTC) is attempting a positive close for the month after having declined consecutively in August 2018 and August 2019. However, gold futures and the U.S. dollar index (DXY) have not been in favor, as both could end the month in the red. Berkshire Hathaway disclosed a 5% stake each in five leading Japanese trading companies, and just a few days back, the company announced that it had a stake in a gold mining company. Daily cryptocurrency market performance. Source: Coin360 Max Keiser of …