‘You OK Boomer?’ Gold Sees Biggest Loss Since 2013 as Bitcoin Steadies

'You OK Boomer?' Gold Sees Biggest Loss Since 2013 as Bitcoin Steadies

Image courtesy of CoinTelegraph

            FEB 29, 2020

Bitcoin (BTC) saw a difficult week as it hit one-month lows, but on gold markets, traders were nursing the biggest daily falls in over seven years.

According to data tracking XAU/USD on Feb. 29, Friday saw the precious metal's worst 24-hour drop since 2013.

Gold drops 7% in 5 days after coronavirus sell-off

Over the past five days, gold broadly succumbed to the sell-offs affecting traditional markets due to the ongoing coronavirus outbreak. Between Feb. 24 and Feb. 29, XAU/USD lost a total of 7.3% before a slight rebound.

The fragile performance puts gold roughly on par with "digital gold," Bitcoin, the weekly losses for which currently stand at around 9%.

Gold year-to-date chart
Gold year-to-date chart. Source: TradingView

As Cointelegraph reported, after rebounding from 4-week lows of $8,450, the largest cryptocurrency returned to its forecast average price and has since attempted to reclaim its 200-day moving average near $8,800.

While gold remained steadfast in a plummeting stock market, its proponents had cause for celebration. Gold bug and infamous Bitcoin skeptic, Peter Schiff, took the opportunity to rubbish those who believed BTC could act as a safe haven.

Schiff: gold "not invalidated"

Following the U-turn in its fortunes, Schiff remained convinced in gold's promise, while acknowledging such drops were "very rare."

"Today's 4% drop in gold is a very rare move in a single day. But it does happen occasionally," he wrote in a tweet on Friday.

"However a 4% drop in @Bitcoin is quite common, which often posts daily declines much larger. Today's move doesn't invalidate gold's safe haven or long-term store of value status."

Bitcoin figures, notably Schiff's sparring partner Morgan Creek Digital co-founder Anthony Pompliano, had wryly suggested that someone should "check on" him as gold's own health waned.

Stock market misery meanwhile continues after the Dow Jones suffered its own record-breaking daily loss on Wednesday. Traders have since overwhelmingly bet on the United States Federal Reserve cutting its short-term interest rate target significantly in 2020.

Original article posted on the CoinTelegraph.com site, by William Suberg.

Article re-posted on Markethive by Jeffrey Sloe

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Mediterranean Diet Yields Gut-Linked Health Lifts

Mediterranean Diet Yields Gut-Linked Health Lifts

Clinical study sees immune, brain, bone boosts from gut biome benefits

02/24/2020   By Craig Weatherby

People across the globe are projected to live longer than ever before.

So, it’s important to find ways of lengthening their “healthspan” — in other words, to help people maintain good health throughout their lifespan.

Exercise and diet are key to healthy aging, but researchers have begun to look at the role played by people’s gut microbiomes.

Now, the encouraging results of a clinical trial show that closely following a Mediterranean-style diet changes the microbiome in ways that should promote wellness and healthier aging.

Specifically, the Mediterranean diet change people’s biomes in ways previously linked to reduced risk for frailty and to better thinking, memory, immunity, and bone strength.

Before we get to the intriguing results of this Europe-based trial, let’s quickly review what the microbiome is all about.

A briefer on the microbiome
The microbiome of an organ such as the skin or gut is the community of trillions of microbes that live within it.

Although these terms are often used interchangeably, a person’s gut microbiome is the genomes (e.g., DNA) of all the microorganisms living in their intestines, while their gut microbiota is the roster of microbes — mostly bacteria, viruses, and fungi — dwelling there.

Most of the microbes in your gut are either harmless or they benefit us by producing vitamins and fibrous, metabolically beneficial compounds like inulin, arabinoxylan, and resistant starch — while helping keep unfriendly microbes from becoming problematic.

The makeup of your microbiome is partly influenced by your personal genetics, and changes constantly in response to diet, physical activity, inflammation, medications, and more.

In addition to a person’s genetics diet, and lifestyle, the composition of their microbiome can either help prevent or promote physical disorders like diabetes and obesity as well as anxiety, depression, and other mood disorders.

Accordingly, an international team — led by Prof. Paul O’Toole of Ireland’s University College Cork — wanted to see if diet can make microbiome changes known to discourage chronic disease and promote healthy aging (Ghosh TS et al. 2020).

“Mediterranean microbiome” exerted healthful effects
For their year-long study, the international team recruited 612 people aged 65-79 — including 286 men and 326 women — living in the UK, France, the Netherlands, Italy, and Poland.

The scientists randomly assigned the participants to one of two groups:

  • Maintain their usual diet.
  • Switch to a Mediterranean diet (MD), which meant eating more vegetables, beans, lentils, fruits, nuts, olive oil, and fish, but less red meat, dairy, and saturated fats (e.g., butter).

After one year, people in the Mediterranean diet group displayed microbiome changes linked to better cognitive function [thinking/memory], less inflammation, better bone strength, and reduced risk of frailty.

Overall, the Mediterranean diet group enjoyed several benefits:

  • Greater microbial diversity (more species — a good thing).
  • Fewer pro-inflammatory compounds produced in the body.
  • More microbes linked to sharper thinking and better memory.
  • More microbes linked to signs of reduced frailty, such as faster walking speeds and stronger hand grips.

At the outset of the study, many of the participants were considered pre-frail — meaning their bone strength and density would likely start decreasing.

And people in the Mediterranean diet group showed fewer signs of risk for frailty while those assigned to the regular-diet group showed more microbiome-related signs of risk for frailty.

What changed in the microbiomes of the Mediterranean diet group?
At the outset of the 12-month trial, the participants’ microbiomes varied by country, but one year later the microbiomes of the Mediterranean diet (MD) group had undergone significant changes:

  • More “MD-positive” microbes — in other words, ones that flourished on the diet.
  • Fewer “MD-negative” microbes, which either didn’t flourish on the diet and/or couldn’t compete with the MD-positive microbes.

Critically, the MD-positive microbes were types previously linked to less frailty and inflammation, and higher levels of cognitive (thinking/memory) function — benefits that also grew as the number of MD-negative microbes shrank.

Importantly, the extent of beneficial microbiome changes reflected how closely a person followed the Mediterranean diet — the closer their adherence, the bigger the benefits.

Why are the microbiome changes from a Mediterranean diet beneficial?
A closer look revealed that the benefits of the microbiome changes seen in the Mediterranean diet group likely stemmed from two things:

  • The MD-positive microbes produce short chain fatty acids that exert effects known to benefit several body systems.
  • The MD-negative microbes produce certain bile acids known to raise the risk of bowel cancer, insulin resistance, fatty liver, and cell damage.

Based on prior evidence, the beneficial microbiome changes among the Mediterranean diet group were likely caused — at least in part — by greater intakes of fiber and certain micronutrients: especially vitamins C, B1 (thiamine), B6 (pyridoxine), and B9 (folic acid), copper, potassium, iron, manganese, and magnesium.

Although the team linked negative changes in the control groups’ microbiomes to an increase in fat intake — primarily saturated and mono-unsaturated fats — relative to the Mediterranean diet group, the available evidence does not suggest that relatively high-fat diets are inherently unhealthful.

The trial’s results also showed that the microbiome changes seen in the Mediterranean group occurred regardless of a person’s age or body mass index, both of which can impact the microbiome.

Conclusions and next steps
Although the diet-driven microbiome changes seen in the Mediterranean group were relatively small, they produced big effects in just one year — and the researchers speculate that continuing the Mediterranean diet longer might further enhance the microbiome.

Future studies will need to focus on what key ingredients in a Mediterranean diet — other than the fiber and micronutrients mentioned above —were responsible for these positive microbiome changes.

Other possible microbiome-influencers in a Mediterranean-style diet include specific types of protein, fat, carbohydrates, and antioxidants.

Overall, the encouraging results of this study suggest that the closer you can stick to a Mediterranean-style diet, the more your gut microbiome will shift to a healthful, anti-aging mode.

They also suggest that you don’t necessarily need probiotic supplements to make significant, beneficial changes in your gut — ones likely to benefit mind and body alike.



  • De Filippis F, Pellegrini N, Vannini L, Jeffery IB, La Storia A, Laghi L, Serrazanetti DI, Di Cagno R, Ferrocino I, Lazzi C, Turroni S, Cocolin L, Brigidi P, Neviani E, Gobbetti M, O’Toole PW, Ercolini D. High-level adherence to a Mediterranean diet beneficially impacts the gut microbiota and associated metabolome. Gut. 2016 Nov;65(11):1812-1821. doi: 10.1136/gutjnl-2015-309957. Epub 2015 Sep 28.
  • Ghosh TS et al. Mediterranean diet intervention alters the gut microbiome in older people reducing frailty and improving health status: the NU-AGE 1-year dietary intervention across five European countries. Gut. 2020 Feb 17. pii: gutjnl-2019-319654. doi: 10.1136/gutjnl-2019-319654. [Epub ahead of print]

Original article posted on the VitalChoice.com site, by Craig Weatherby.

Article re-posted on Markethive by Jeffrey Sloe

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Nick Chong   •   February 25, 2020

Over the past few hours, Bitcoin (BTC) has started to tank lower once again, reaching $9,350 just an hour or two ago on some exchanges. The asset has since seen a slight bounce, returning to $9,400.

This means that in the past 24 hours, the price of the leading cryptocurrency has fallen by 3.25%, crushed after reaching $10,000 on the weekend for just a brief moment.

Bitcoin’s weakness comes amid similar weakness in the traditional stock market, with the leading indices in the Dow Jones, S&P 500, and Nasdaq 100 recently selling off amid fears of the coronavirus spreading into the West and having a substantial economic impact.

Yesterday, the Dow Jones lost 1,000 points, plunging by 4%. It just so happened that BTC fell by a similar amount. Today, the same index is down 1%, while Bitcoin is also down.

Some have suggested that despite the cryptocurrency being classified by “digital gold” as many economists, it remains an asset that performs well in risk-on environments, meaning the stock sell-off hasn’t been conducive to the success of Bitcoin.

Not All Hope Is Lost for Bitcoin

While the recent drop obviously isn’t good for Bitcoin investors, for it liquidated over $40 million worth of BitMEX long positions, some are hopeful that a bullish bounce may soon be in store for this nascent market.

Quantum Economics’ Mati Greenspan remarked that BTC is currently trading in a symmetrical triangle-esque formation, with prices consolidating towards the apex. Symmetrical triangles are often seen as continuations higher when the leading price action is an uptrend (and vice-versa).

There’s also this chart from chartist Nunya Bizniz, which shows BTC’s price action on a weekly basis over the past four years. It suggests that Bitcoin has been trading in a clear logarithmic uptrend the entire time, with the asset bouncing off the support depicted on at least seven separate occasions.

History repeating will see BTC bounce at the uptrend, which is currently around $8,800-$9,000, depending on how fast the price gets there. This is important as bounces off this growth level are historically what led the asset into bull markets.

There have been some fears of a deeper correction though, with some analysts eyeing $8,500, as there exists a CME futures gap at that price, and some targeting even lower prices.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

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5 Best Ways To Ramp Up Your Mobile Marketing

5 Best Ways To Ramp Up Your Mobile Marketing

Written by: Syed Balkhi February 26th, 2020

Are you on track to creating marketing strategies just for mobile? Today, there are 5.11 billion unique mobile users in the world. Mobile phones are affordable, convenient to use, and, well, mobile! Meaning that more and more interactions are going to happen on your audience's phones than their desktop computers.

You need to get in the game and focus on your mobile marketing to get more engagement and drive conversions.

It's important to remember that people interact with their phones differently. Mobile platforms offer tremendous opportunities to win customers but they also come with challenges. You can't approach marketing on mobile the same way as you do marketing for your desktop website.

The unique features that mobile phones offer means that you have to understand what works and what doesn't. Let's look at a few key ways that you can ramp up your business's mobile website experience to improve your marketing outcomes.

Boost Your Site Speed

Improving your mobile site speed is very likely the most important step you can take to support your mobile marketing efforts. Over 40% of users will abandon a site if it takes more than 3 seconds to load. Improving your site speed will create benefits in two significant ways:

  1. Improved user experience: Visitors will stay on your site longer and have a better experience when your site is quick to load and navigate
  2. Better SEO: Search engines prefer to give users websites that create a positive experience. A longer load time does not meet users' expectations and as a result, it also affects site ranking. You can boost your mobile site SEO by simply improving the load time

Here are a few easy ways you can manage your mobile site's speed.

  • Start by testing your current mobile site speed. You can use free tools to test site speed and learn if you have any load time issues
  • Bring down the size of your site page weight or overall size to less than 1000kb
  • Reduce image sizes and remove carousels

Improving your mobile site speed will ensure the success of your mobile marketing. Make it a priority and keep testing it over time.

Write Content for Mobile

Since mobile screens are smaller, reading content on them can strain the eye. It's essential to optimize your content and make it easier for people to consume it. You can optimize your website for mobile phones with a few key changes.

  • Break text into small paragraphs consisting of 3-4 sentences
  • Use conversational or a casual way of speaking that is easy to read and engages people
  • Structure your content using headings, bullet points, and number lists so that it is easy to scan content
  • Create more video content as it is easy to consume on a mobile screen and is very engaging

Optimize for Voice Search
Along with the content suggestions just mentioned, you need to optimize your mobile site content for voice search. People use voice search and voice commands to interact with their mobile phones. Getting your site to appear as a result for specific voice queries will boost traffic and conversions to a greater degree. Here are a few ways you can build content for voice search.

  • Provide information such as store timings, location, store holidays, and other business details. People often look for location-specific and local information when using their phones. Adding appropriate business information helps search engines to pull up the answers when such queries are made.
  • Answer questions and create an FAQ page. Your audience will ask questions and expect clear and specific answers when they use voice search to get information. Your website can appear as a result if you provide helpful answers to user questions related to your business or industry.
  • When writing answers or creating content, keep it to fewer than 30 words as it's the ideal number of words when giving an answer.
  • Use long-tail keywords and phrases in your mobile content. This is because people will use a natural way of speaking and will express their queries as full questions. Your answers need to be prepared to answer such questions and should include relevant long-tail keywords

In these ways, you'll have your content optimized to bring in more engagement, traffic, and better search rankings.

Leverage Social Media Stories

Stories on social media are said to be the first true content format that's created for the mobile phone. They are short videos or images that people create – adding emojis, text, and hashtags. Stories last for just 24 hours and then they disappear, making it a way to share more personal and interesting information.

The vertical format is engaging and popular with users on social media, especially the newer generations.

Stories generate high levels of engagement and many brands today use it as a regular part of their social media marketing.

When creating stories, it's important to focus on building a relationship than promoting yourself. Your content should not be over-promotional and instead, should offer users entertaining and helpful information.

Use Call-to-Action Buttons

People are prone to make mistakes in typing and navigating when interacting with mobile sites. You can boost user experience and improve engagement by giving people the ability to perform actions with minimal effort.

Add call-to-action buttons as a way to help your site visitors use your pages easily. If you've listed your phone number, add a button that allows users to call you with one click. Include share buttons with your posts and add visible call-to-action buttons to subscribe. Create simple registration forms and sign up buttons that allow people to sign up to your membership site.

In short, help people to minimize the number of steps they have to take to accomplish a task on mobile. You can also improve user-experience by adding wallets to make the checkout process on your website faster.

Grow Your Business with Better Mobile Marketing

The widespread use of mobile phones and platforms gives your business many opportunities to engage your audience. It's vital to create content and leverage the right features and platforms that cater especially to mobile. Use the tips given here to give your mobile marketing a boost in the right direction, and you'll see great returns over time.

Syed Balkhi is an award-winning entrepreneur and online marketing expert. He is the co-founder of OptinMonster, WPBeginner, MonsterInsights, and WPForms.

Original article written by: Syed Balkhi and posted on JohnChow.com.

Article reposted on Markethive by Jeffrey Sloe

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Shopify Joins Libra Association

Shopify Joins Libra Association

By RTTNews Staff Writer | Published: 2/24/2020 9:25 AM ET

Amid a slew of major companies abandoning the association, Canadian e-commerce giant Shopify has joined the Libra Association, a consortium of major financial partners of Facebook’s Libra cryptocurrency project. Shopify will now become the 21st member of the association.

Shopify intends to build a payment network that makes money easier to access and supports its more than one million merchants and global consumers of the platform.

It wants to create an infrastructure that advocates transparent fees and easy access to capital, and ensure the security and privacy of its merchants’ customer data.

The Libra Association was formed as an independent not-for-profit organization by the initial 28 financial backers of the Libra cryptocurrency project in June 2019 to oversee the cryptocurrency’s creation and eventual consumer roll-out. These 28 companies were to invest around $10 million each in the consortium to fund the development of the stablecoin.

However, seven of the 28 initial members, including most of the payment firms, backtracked as they did not want to be publicly seen to be backing the project, fearing regulatory scrutiny.

The companies who withdrew support for the project include Visa, MasterCard, PayPal, Stripe, eBay, and Booking Holdings. PayU was the only payments firm left in the association. Telecom giant Vodafone became the eighth firm to pull out of the Libra Association last month.

The member organizations who have already signed onto the Libra Association charter include Coinbase, Lyft, Spotify, PayU, Xapo, Anchorage, Kiva Microfunds, Andreessen Horowitz, Uber and Calibra, which is a Facebook subsidiary formed to run the Libra network, powered by blockchain technology.

The Libra project has been raising many serious concerns regarding privacy, money laundering, consumer protection and financial stability. Apart from being subject to significant regulatory and political scrutiny in the U.S., France and Germany also have recently pledged to block Libra from operating in Europe.

The news about Facebook’s planned cryptocurrency had come in early March 2019. In May, there were also reports about the social media giant’s plan to launch the cryptocurrency-based payments in many countries by the first quarter of 2020. Facebook then confirmed in June its plans to launch cryptocurrency Libra in 2020.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

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How to Become an Influencer on LinkedIn

How to Become an Influencer on LinkedIn

            JAN 2020

LinkedIn is already huge, and it's growing bigger every year.

In fact, it has 660 million users across 200 countries.

And while it's not like Facebook and Instagram, which each have billions of users, LinkedIn is special to marketers.

This is because LinkedIn's focus is on business, jobs, and networking.

In fact, 80% of B2B leads come from LinkedIn, the highest for any social platform!

It's easy to see why you should market your brand on LinkedIn.

But it's not as simple as creating a profile and advertising your brand on the platform.

First, you need to gain trust by becoming a LinkedIn influencer.


Here are five things you can do.

5 Easy Steps to Follow to Become a Trusted LinkedIn Influencer

You might have heard that LinkedIn invites popular influencers to become part of a special group on the platform.

These influencers include huge names like Bill Gates, Mary Barra, and Arianna Huffington.

Hoping to get an invitation from LinkedIn to join this special group feels like reaching for the stars.

The good news?

You don't have to be in this group to become an influencer in your own right.

All you need to do to gain attention for your brand is to prove your expertise and offer value to other users.

Step 1: Know Your Goals

Trying to achieve influencer status on LinkedIn will feel like going in circles if you don't first define your goals.

For instance:

  • Do you want to get more followers on the platform?
  • Do you want other LinkedIn users to visit your blog?

To begin, make a list of all the possible goals you can achieve through gaining influencer status on LinkedIn.

Once you've selected the right ones, it'll be easier to build your strategy around these goals.

For example, you want to become an influencer on LinkedIn to get clients for your freelance writing business.

Once you've listed this goal, you go on to take steps that'll make you the best choice for people looking for a freelance writer.

  • You post exceptional content to show readers your writing skills.
  • You make a list of your writing experience and expertise.
  • You share rich media related to your profession.

Knowing your goal is the first step on the path to achieving it.

Step 2: Create a Superstar Profile

When people click on your profile, they don't want to see a blank photo and little to no information.

They want to be impressed by who you are.

You don't want your profile to appear like this.

Instead, you want to capture your unique personality in a vibrant profile photo.

Describe yourself, your passions, and accomplishments.

Use stunning graphics.

Here's what an attractive LinkedIn profile looks like.

Although LinkedIn focuses on B2B and jobs, this doesn't mean you should be impersonal and overly formal.

In business as in life, it's about making real connections with real people.

And your profile should show that, highlighting who you are and what your brand can do.

Step 3: Create & Curate Standout Content

Once your profile is ready, it's time to prove your expertise in your industry.

One excellent way to do it is through posting content.

What kind of content should you post?

Content That Speaks to Your Specific Audience

Before you even start writing, chalk out an audience persona.

You want to hit all your audience's hot buttons with your content.

For example, you own a copywriting service. You want to attract clients who understand that paying for quality copy is a smart investment.

To address these people, you wouldn't write content on a topic like "Five reasons to invest in quality copywriting." Instead, you'd do something like, "Five standout elements to look for when selecting the best copywriting agency."

Knowing exactly who you're speaking to will help you create consistent content.

Spectacular Content

The content you create should be uniquely yours.

It should enrich readers so they'll feel they've gained something priceless each time they consume what you've written.

To do this, learn about your readers.

Understand what they're trying to achieve.

Then, go online and read blogs on your topic.

How can you improve what's already been written?

Make your content stand out.

Also, be trustworthy.

Back up facts with stats, use charts and graphs, and cite reliable sources.

You want everything you write to be solid.

Media-Rich Content

Content doesn't only mean articles and posts.

It also means photos, videos, GIFs, and even memes.

As a general rule, it's a good idea to add a photo to every article you write.

Look at this post:

It's not only attractive because of its data-backed facts, but also because of its crisp, candid photo.

Curated Content

You don't have to squeeze yourself dry for enough time to publish a post on LinkedIn every single day.

For the days when you're loaded with work, you can post curated content.

Curated content is valuable to your readers.

What's more, it'll make you a trustworthy figure in their minds because they're connecting you with powerful influencers whose posts you share.

So, how do you find content from excellent sites and influencers in your niche?

It's easy.

You can use software like Instapaper and Listly.

Step 4: Invest Time in Networking

On any social media platform, it's not all about getting attention.

It's about giving attention as well.

Make time to comment on stellar posts from other influencers.

Build relationships based on trust.

It won't be long before you find your list of followers growing.

Step 5: Promote Your Content Across Channels

As a marketer, you want all your marketing channels to work together seamlessly.

You want them to be part of the whole story of your brand.

To do this, promote your LinkedIn profile on your blog. On Facebook. On Instagram. And vice versa.

The more exposure you get, the faster you'll reach your goals.

Are You Using LinkedIn to Grow Your Business?

LinkedIn is a powerful tool you can use to grow your business.

But to succeed on the platform, you first need to build credibility.

Remember, always focus on the value you can give prospective clients.

If you keep doing this and follow the five steps listed above, it won't be long before you're considered an influencer on LinkedIn.

Image Credits

All screenshots taken by the author, January 2020

Article written by Julia McCoy, and posted on the Search Engine Journal website.

Article reposted on Markethive by Jeffrey Sloe

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Coinbase Becomes Visa Principal Member

Coinbase Becomes Visa Principal Member

By RTTNews Staff Writer | Published: 2/20/2020 9:37 AM ET

US-based cryptocurrency exchange Coinbase has become the first pure-play crypto company to be approved as a Visa principal member. This membership will enable Coinbase to issue Visa debit cards directly without depending on third-party issuers.

This move comes about ten months after Coinbase teamed up with Visa to launch the Coinbase Card, a Visa debit card that lets customers spend their crypto balances direct from their Coinbase account. It is currently available in the U.K. and some other European countries such as Italy, Spain and France.

The cards were initially being issued by a third party, Paysafe Financial Services Limited, which is authorized by the Financial Conduct Authority. Coinbase is the first debit card to link directly with a major cryptocurrency exchange in the UK and EU.

The Coinbase card, which can be used globally, is currently allowed only to be used in countries where the card is supported. It is available to customers in 29 markets who are able to spend 10 cryptocurrencies in millions of merchant locations.

The card can be used as easily as a debit card is used to spend money in their bank account.

The cryptocurrencies in your Coinbase account can be spent using the card for funding holidays abroad to trips on public transport, making their crypto work for them in everyday situations. The Card supports all crypto assets that are available to buy and sell on the Coinbase platform.

Coinbase said more than 50 percent of customers who have a Coinbase Card use it regularly, with its maximum usage in the UK, followed closely by Italy, Spain, and France.

When customers use their Coinbase Card, crypto will be instantly converted to fiat currency, such as GBP, which is then used to complete the purchase.

The company has also launched the Coinbase Card app to help customers chose their particular crypto wallets to fund their Coinbase Card spending.

In mid-March last year, banking startup 2gether had announced a similar launch of a prepaid Visa debit card that allows users to spend cryptocurrencies in any of the 19 eurozone countries.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

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Bitcoin Bursts Past 10000 Again: Will Bulls Keep Up?

Bitcoin Bursts Past $10,000 (Again): Will Bulls Keep Up?

After reaching as low as $9,500 on Monday, Bitcoin started to trend higher. As of the time of this article’s writing on Tuesday, the cryptocurrency has reached as high as $10,300 — 8% higher than the local bottom but a few percent below the local top at $10,500.

The strong recovery from the key $9,500 level is bullish, for it confirms the uptrend structure of Bitcoin remains intact. Indeed, a number of analysts have said that the price of BTC’s recovery is a likely precursor to yet another thrust higher, a thrust that will bring this market to new multi-month highs.

Bitcoin’s Outlook Turns Positive Again Amid Recovery

The recent move higher has convinced many that Bitcoin is ready to move even higher.

Gerald Walker, who has a moniker “The Wolf of All Streets,” remarked that Bitcoin remains in an ascending channel and is forming a wave pattern that will take it past $11,000 in the coming days.

The channel and wave he was referring to can be seen in the tweet below, which shows that Bitcoin bouncing off a crucial horizontal and diagonal support around a Fibonacci Retracement is priming the asset for a thrust to $11,000.

Walker added that as long as the $9,060 level stays intact, he expects to see “higher prices.”

Indeed, Bitazu Capital’s Mohit Sorout remarked that despite the retracement seen over the weekend, Bitcoin’s “market structure” remains intact, referencing the existence of a bull trend and the bounce off a key horizontal level.

Not to mention, the long-term uptrend remains decisively intact.

On Monday, analysts observed an extremely positive technical analysis signal: the 50-day simple moving average and the 200-day simple moving average crossed, with the former moving over the latter for the first time in nearly a year. This is called a “golden cross.”

Analysts have said that this validates the uptrend in the price of BTC, for it shows that a strong uptrend is forming.

Not to mention, Bitcoin’s holding above its 200-day moving average has always boded well for the cryptocurrency. An analysis from market research firm Fundstrat Global Advisors found that the average six-month gain for Bitcoin after it retakes its 200-day moving average is 197%, implying a price of over $20,000 by the middle of this year.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

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Bitcoin Price Fights to Hold 95K to Stave Off a Trend Reversal

Bitcoin Price Fights to Hold $9.5K to Stave Off a Trend Reversal

Image courtesy of CoinTelegraph

            FEB 20, 2020

On Feb. 20 Bitcoin (BTC) price surprisingly dropped 8.85%, a move which caught many investors off guard as up to that moment the digital asset had recovered well from the President’s Day weekend correction and was trading sideways in the $10,200 range. Citing data from CoinMetrics, ARK Invest crypto analyst Yassine Elmandjra tweeted that the $1,000 price drop was the fifth largest USD correction to occur on the hourly time frame since 2017.

Since the sharp downside move, traders, analysts, and crypto-Twitter have been attempting to pinpoint the source of the flash crash and a handful of theories have arisen. Some have attributed the volatility to the consecutive unplanned Binance exchange outages which halted trading on the platform and prevented many traders from being able to log into their accounts.

Others, like, Cointelegraph contributor and Bitcoin trader filbfilb speculated that a shortage of Tether (USDT) at Binance could possibly have contributed to the current market conditions.

In his Telegram-based trading channel filbfilb explained that the USDT shortage possibly shows that the majority of traders were in long positions, an observation further supported by the decreasing pace of Bitcoin’s momentum and the liquidation of $120 million leveraged longs at BitMex.

BitMEX XBTUSD Liquidations. Source: Skew.com

Regardless of the reason, the drop to $9,346 shook a lot of investors from their Bitcoin and altcoin positions and the current state of the market is negatively impacting investors’ bullish sentiment as they are choosing to wait on the sidelines for a clearer signal that a bottom has been reached.

Crypto Fear & Greed Index. Source: Alternative.me

Is the current price action a buy the dip opportunity or is Bitcoin on the verge of a significant trend change? Let’s check the charts to see.

Excited traders overlooked the tweezer top

BTC USDT daily chart. Source: TradingView

As shown by the daily chart, Bitcoin formed a tweezer top candlestick pattern at $10,250 after recovering from the previous weekend’s drop to $9,450. This should have been a signal that the likelihood of a pullback could occur but traders were probably feeling bullish after Bitcoin’s quick recovery from $9,450 placed the digital asset back above key support levels.

Despite the shock caused by yesterday’s correction Bitcoin price still found support at the high volume node of the volume profile visible range (VPVR) at $9,300 to $9,438. While this is reassuring, some cautionary notes are low purchasing volume which highlights a lack of buyers interested in stepping into the current dip and the state of the two most frequently referenced oscillators by traders not yet registering oversold conditions.

BTC USDT 6-hour chart. Source: TradingView

On the 6-hour timeframe, the relative strength index (RSI) has yet to manage an oversold bounce and the moving average convergence divergence (MACD) line continues to plummet, pressing on -100 at the time of writing.

Traders will also notice that the MACD histogram bars continue to elongate in negative territory (below 0) and the pattern of lower highs in the 6-hour chart is unbroken.

Bearish scenario

If buyers continue to believe the current price action is not a ‘buy the dip’ opportunity the price could drop below the VPVR high volume node ($9,438) and the 200-day moving average at $8,800 where there is another VPVR high volume node.

The shorter timeframe shows the price slowly making higher lows but the purchasing volume is not significant enough to hold the price above $9,600. Over the short-term, bulls need to defend the $9,500 support (black arrow on chart below) as the daily and weekly timeframe shows it to be a key level. A more significant trend change could push the price lower to $8,800 to $8,400.

Bullish scenario

If we zoom out to assess Bitcoin’s price action since reaching its 2019 top at $13,800 on June 26, 2018, we can see that the 38.2% Fibonacci Retracement level has been a frequent area where the price has bounced after strong corrections.

BTC USDT daily chart. Source: TradingView

Since June 26, 2018, the price has bounced here more than 10 times and yesterday’s pullback brought the price to the 38.6% level again. It’s crucial that the price stays above this level because the 38.6% Fibonacci retracement has also functioned as a strong resistance once the price dips below it.

On the flip side, assuming the price breaks out, we can also see that the last three Bitcoin rallies on October 12, 2019, February 12, 2020, and February 18, 2020, have failed to break above the 50% Fibonacci Retracement level. Thus, Bitcoin price needs to secure a few daily closes above $10,250 (50% Fibonacci retracement) before any calls for $11,000 can be seriously considered.

For the short term, Bitcoin price needs to knock out $9,630 and above this price, $9,750 is likely to function as a level of resistance. A more convincing maneuver would be to see Bitcoin price overtake the 20-MA of the Bollinger Band indicator and sustain above $9,850.

Original article posted on the CoinTelegraph.com site, by Horus Hughes.

Article re-posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

CFTC Charges Denver Resident With Running Fraudulent Crypto Scheme

CFTC Charges Denver Resident With Running Fraudulent Crypto Scheme

By RTTNews Staff Writer | Published: 2/17/2020 9:10 AM ET

The U.S. Commodity Futures Trading Commission (CFTC) has charged Denver resident Breonna Clark and Colorado-based Venture Capital Investments Ltd. with running a fraudulent scheme.

The regulator has filed a civil enforcement action in the U.S. District Court for the District of Colorado against Clark and Venture Capital, charging them of soliciting U.S. residents to trade foreign currency contracts as well as Bitcoin and other digital assets through a commodity pool operated by the defendants.

The two defendants are also charged for fraudulently soliciting prospective pool participants by misleading customers about their experience, expertise, and investment track record, the complaint alleges. They promised future profitability trading forex and digital assets.

They are alleged to have collected $534,829 from about seventy-two individuals. Out of this, at least $418,000 is believed to have been used for personal expenses, including buying a BMW vehicle and to make Ponzi-type payments to other pool participants.

Further, the complaint alleges that the defendants sent pool participants false account statements, which purported to show trading gains, to conceal their misappropriation. They also failed to appropriately register with the Commission pursuant to the Commodity Exchange Act and regulations.

The CFTC seeks “restitution to defrauded customers, disgorgement of ill-gotten gains, civil monetary penalties, permanent registration and trading bans, and a permanent injunction against future violations of the Commodity Exchange Act.”

The agency was assisted in its investigations by the Financial Supervision Commission of Bulgaria, Financial Markets Authority of New Zealand, Seychelles Financial Services Authority, St. Vincent and the Grenadines Financial Services Authority, and the United Kingdom Financial Conduct Authority.

The CFTC strongly urges the public to verify a company’s registration with the Commission before committing funds.

For comments and feedback contact: editorial@rttnews.com

Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe