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Bitcoin Price Below $11,800 Now, BTC Still Looking for Support

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On Thursday, August 20th, BTC is falling while investors are looking for reasons to resume buying. The asset is mostly trading at $11,755.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex.

  • Analysis of Bitcoin price movements now.
  • Climate in China is against BTC.
  • Over 5 months, BTC added 225% but Buffett is not buying it.

As we can see in the weekly chart, now Bitcoin price is correcting within the uptrend. At the moment, the asset continues growing towards the resistance area, which is close to 100% fibo. The MACD histogram is above 0 – this might be a response to a huge amount of purchases, which forced the asset growth. After forming a “Black cross”, the indicator’s signal lines continue crossing, thus hinting at a possible correction before further growth. The Stochastic indicator continues its slow growth towards the “overbought area”, which is another signal for further increase of the digital coin.

Photo: RoboForex / TradingView

The daily chart is almost identical to the weekly one: BTC/USD continues the correction within the ascending tendency. The downside correctional target is the support area and the rising channel’s downside border. The MACD histogram is above 0, thus raising the prospect of further ascending movement after the correction. The indicator’s signal lines are rising, which is one more signal for further uptrend. Taken together, weekly and daily charts are still indicating further growth after the pullback.

Photo: RoboForex / TradingView

In the H4 chart, the situation is quite similar. The cryptocurrency is forming a correction towards the horizontal support level. The Stochastic indicator has formed a “Black cross” inside the “overbought area”, which is another signal in favor of the correction.

Photo: RoboForex / TradingView

Rainstorms in China, Sichuan to be specific, made the BTC network hash rate fall and resulted in a 20% drop of Major Chinese bitcoin mining pools. Due to heavy rains, this region is experiencing difficulties with the electricity supply and, as a result, massive drops in mining productivity. Floods in Sichuan are not a surprise to anyone because they are pretty common for this region. By the way, it’s a rainy season there now, so one should ready for it.

A world-famous investor, Warren Buffett will start buying BTC when it reaches $50,000 – said Max Keiser, гthe head of Heisenberg Capital. His words don’t look too reliable because Buffett didn’t have a taste for risky ventures and never bought assets at their highs. However, the recent BTC dynamics make very few people feel no concern for it and force many emphatic public statements. Over the last 5 months, the BTC rate expanded by 225% and its share on the cryptocurrency market is almost 60%. This week, BTC reached the highest level since July 2019 at $12,257.

Disclaimer: Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

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Kseniia Klichova
Author: Dmitriy Gurkovskiy

Dmitriy Gurkovskiy is a senior analyst at RoboForex, an award-winning European online foreign exchange forex broker.



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Priority Queue for CoinList Token Sales Revealed

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According to CoinList, the Priority Queue is a scheme that seeks to reward validators, stakers, miners and other registrants, and other people who could have helped with the growth and success of the token.

The Priority Queue for CoinList imminent token sales has been revealed by the company. The Priority Queue is an invite-only queue that consists of invitees with a higher chance of securing an allocation over the normal or regular invitees, even though allocation is not automatically guaranteed. The Priority Queue will also be significantly shorter than that of the main token sale queue (which reportedly will be hundreds of thousands) and will run in parallel to the main queue

According to CoinList, the Priority Queue is a scheme that seeks to reward validators, stakers, miners and other registrants, and other people who could have helped with the growth and success of the token. Most of these people are normally turned away in a token sale by missing out on an allocation. “This is a lost opportunity for token networks seeking to grow strong communities,” CoinList stated in an official statement on their website.

“To address this, we’re rolling out a Priority Queue feature that allows token networks to give priority to their core group of contributors as well as to CoinList community members, who have demonstrated a long-term commitment to token networks,” the statement reads.

According to CoinList, the Priority Queue invites for CoinList community members are based on a points system that recognizes value-add activities. The greater your contributions are to token networks on CoinList, the more points you earn. However, not all users will receive an invite to the Queue. “At this time, we’re limiting invites to those with the most points so that the Priority Queue is less than 1% of the total number of sale registrations,” the statement said.

According to CoinList, their Value-add activities fall into three categories or tiers, with Tier 1 weighing the most points, while tier 3 yields the least. To be in the Tier 1 class, an invitee would have to have participated in a validator/miner/grant program or a hackathon on CoinList.

Tier 2 users would have to have participated in early CoinList token sales (before 2021), worklocks, lending programs, and staking whiles Tier 3 consists of users that have traded on CoinList through CoinList.co, CoinList Pro, CoinList Mobile app, OTC, and WBTC conversion.

CoinList added that they will continue to improve on the Priority Queue and plans to add more features to the points system as time goes on as the firm will get to learn about what works best for the token network teams and their sale participants.

Read more news from the crypto industry here.

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Crypto fanatic, writer and researcher. Thinks that Blockchain is second to a digital camera on the list of greatest inventions.



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Chainalysis Raises $100 Million at $4.2 Billion Valuation

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As outlined by Chainalysis, the latest cash injection will be used to deepen its data advantage by covering more cryptocurrencies, and focusing on emerging niches including decentralized finance (DeFi). 

Blockchain analysis company Chainalysis has announced the completion of its Series E funding round in which it secured an additional $100 million from investors. According to the official announcement Chainalysis, the Series E funding round was led by Coatue and brings the company’s total valuation to $4.2 billion.

As revealed, previous backers including Benchmark, Accel, Addition, Dragoneer, Durable Capital Partners, and 9Yards Capital added to their stake in the company. Accordingly, the funding round also saw participation from other investors including Altimeter, Blackstone Group Inc (NYSE: BX), GIC, Pictet, Sequoia Heritage, and SVB Capital.

The use of blockchain technology and its attendant innovations particularly cryptocurrencies is growing. While there has always been a sustained retail adoption of the emerging monetary innovation, institutions are beginning to show interest in the growing asset class. However, the rate of adoption is marred by the lack of transparency in using Bitcoin (BTC), and other altcoins, as well as the potential risks of being used for illicit transactions. These fears are compounded by regulators, who often warn against the integration of this tech.

Chainalysis is building the technology to allay the fears of usage of crypto on the part of investors, and to aid regulators to track illicit transactions accordingly. The company is building compliance software that enable government agencies and private sector businesses across the world to detect and prevent cryptocurrency crime and money laundering. The invaluable nature of Chainalysis’s product has drawn in over 300 clients, spanning both government, businesses, and general crypto users.

“Chainalysis’s data platform is core infrastructure which helps to create a safe and thriving cryptocurrency market,” said Kris Fredrickson, Managing Partner at Coatue. “As cryptocurrency adoption grows, we believe that financial institutions, government agencies, and cryptocurrency businesses will increasingly deploy Chainalysis’s platform to make important decisions – from figuring out the best way to dismantle the operations of a threat actor to deciding which new cryptocurrency products are likely to drive the most demand.”

Chainalysis to Build Out and Focus on Its Expansion Following the Funding Round

As outlined by the company, the latest cash injection will be used to deepen its data advantage by covering more cryptocurrencies, and focusing on emerging niches including decentralized finance (DeFi).

Additionally, it noted the readiness to develop collaboration tools in its suite of software solutions so that public and private sector teams can work together from the same data set with a consistent, shared understanding. The firm is also seeking to provide direct access to Chainalysis data through APIs so that government agencies, financial institutions, and cryptocurrency exchanges can combine Chainalysis data with information from within their enterprises to make better decisions.

Beyond the product development, the company says it will hire hundreds of positions to promote its global expansionary drive. In all, Chainalysis is set to foster the speedy embrace of crypto and blockchain through the provision of data that can help eliminate threats in all forms.

“The future of finance and national security will be based on blockchain data-driven decisions,” said Michael Gronager, Co-founder and CEO, Chainalysis. “We’ve harnessed the transparency of blockchains to provide actionable insights into markets, threats, and business opportunities.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



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Microsoft’s Satya Nadella Unveils Windows 11, Here’s Everything You Need to Know, MSFT Stock Slightly Up

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Here’s a look at all the interesting features that Microsoft introduced with the announcement of Windows 11 on Thursday.

During an online event on Thursday, June 24, software giant Microsoft Corporation (NASDAQ: MSFT) announced the latest iteration of its Windows operating system aka Windows 11. The latest Windows version comes six after the previous Windows 10 which Microsoft claims at the world’s most widely used computing OS with over 1.3 billion users. Microsoft CEO Satya Nadella kickstarted the event stating:

“Today marks a major milestone in the history of Windows. It’s the beginning of a new generation. With Windows 11, we have a renewed sense of Windows’ role in the world. Operating systems and devices should mold to our needs, not the other way around. That’s why we’re making it easy to connect with the people you want, the content you want, the apps you want, across all devices you want.”

Thus, let’s take a look at some of the most interesting things that Microsoft announced at yesterday’s Windows event.

The Windows 11

Microsoft’s chief product officer Panos Panay called the new OS “the Windows that brings you closer to the things you love”. Windows 11 hosts a centered Start Menu featuring applications and recently used files across Windows devices.

Besides, it also brings a repackaged Windows Widgets that show news, weather, and other information. Windows Widgets uses an AI-based mechanism to deliver relevant and personalized information. These widgets will appear on the entirety of the screen just with a swipe from the left to right.

Windows 11 also brings “snap layouts” This allows users to move application windows to preset configurations. A feature called “snap groups” was a group of apps that people were using previously.

Panay also said that Microsoft will be incorporating its Teams productivity app directly into Windows. This comes soon after Microsoft added quick video calls to Windows directly through its Skype app.

While unveiling a revamped app store, Panay called it “the safest and most secure way for you to get your apps on Windows”.

Getting Xbox Features to Windows 11

Microsoft announced that it will be bringing some of its Xbox features to Windows 11. The Windows 11 OS comes with automatic HDR for in-gaming adjustments with lighting and color thereby making the images more vivid.

Microsoft also announced direct storage with Windows 11. Thus, large game worlds can be loaded quickly using speedy hard drives. Additionally, Microsoft is also promoting its gaming subscription dubbed Xbox Game Pass. The subscription gives access to different titles including the likes of Bethesda. “If you’re a gamer, Windows 11 was made for you,” Panay said.

Microsoft Teams Gets a Social Media Touch

Microsoft Teams, the popular chat and videoconferencing software, gets a major makeover thereby making it more like a systemwide messaging app. With Microsoft Teams, the company presented an interface that puts chats in standalone windows.

Frequent contacts will appear as a pop-up at the start. Microsoft Teams also gets better video conferencing features making it easy for users to jump into a video call similar to FaceTime and Messages on Mac.

Support for Android Apps

The computing giant announced support for Android apps on windows 11 via Amazon’s app store. It means all popular apps used by Android users will be available on desktop, directly in the Start Menu. However, users first need to sign in to their Amazon.com Inc (NASDAQ: AMZN) account to download these apps. Additionally, the Amazon App Store doesn’t offer Google’s popular Android apps like Gmail, Maps and other Google services.

But this is a big move for Microsoft’s ARM-based Windows efforts since these apps can work on all mobile processors. This is similar to Apple Macs with an M1 chipset offering support to iPhone and iPad apps.

Microsoft Store Competing with Apple Store

Taking potshots at the Apple Store for charging the developers with high fees, Panay said that the Windows Store will give developers an option to either select Microsoft’s payment processor (that charges 12% fee) or use their own payment processor and keep 100% of the purchases.

This is clearly a shot at Apple Inc (NASDAQ: AAPL) and Google LLC (NASDAQ: GOOGL) who charge a 15-20% fee from developers on their application stores. Over the fee structure, Apple has been facing developer and regulatory scrutiny. “Today this world needs a more open platform,” Microsoft CEO Satya Nadella said.

Amid the news, MSFT stock was 0.53% up yesterday and today in the pre-market is 0.25% up, trading at around $267.37.

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.



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