Image Of The Weekend, 8-9 of December: Blokt, Yahoo.Finance, The Daily Hodl and Others
We're presenting "image of the weekend". Bitnewstoday.com has chosen the most important news about the digital economy and virtual currencies. Only the most valuable stories from only the trusted sources. Each and every event from this list will change the world of the digital economy either way. The most important stories of this weekend in the most indicative quotes are below!
1. A HONEYPOT FOR BEARS (Blokt)
Is a bear flag forming for Bitcoin’s price after a bearish week?
Bitcoin ended the week on an extremely bearish note with a 2018 low formed on Friday around $3200. The price has since recovered to around $3400, but the prospects look dim from here.
The price has been trading sideways since the drop. The longer it trades sideways, the more likely a bear flag is being formed.
A bear flag is where price undergoes a drop and trades sideways or in a range before dropping significantly to the downside again. The sideways price action we are seeing increases the likelihood that the next significant movement for Bitcoin will be to the downside.
2. THAT ESCALATED QUICKLY (The Daily Hodl)
Bitcoin trading skyrockets on Bitmex, BTC wallets hit new record
The current number of blockchain wallet users has surpassed 30 million, up from 28 million since September, despite the market downturn. The number of blockchain wallet users worldwide has been growing steadily ever since Bitcoin’s inception in 2009 with no signs of fatigue.
Meanwhile, Bitcoin reached another milestone on Reddit. The active Bitcoin subreddit community r/bitcoin has reached one million subscribers. On Google Trends, Bitcoin searches worldwide within the past 30 days have maintained their edge over pop stars Ariana Grande and Beyoncé.
3. HOT STUFF (Market Watch)
The No.1 item on teens’ holiday wish lists
For the first time, teenagers said they wanted cryptocurrency like Bitcoin and Fortnite “V-Bucks” virtual currency instead of cash, gift cards and gas money, according to the “Holiday 2018” consumer report released this month by investment bank and asset management firm Piper Jaffray.
Like many virtual currencies, V-Bucks doesn’t always feel like real money. Fortnite players can buy 1,000 of the V-bucks virtual currency for $9.99. They can use it to purchase items while they’re playing the wildly popular video game, including the “Battle Pass” for 950 V-bucks, and outfits and “skins” for their characters for between 500 and 2,000 V-Bucks.
4. GOOD VIBES (Yahoo.Finance)
Bitcoin price recovers 12% in 72 hours while traders remain cautious in short-term
Since December 8, the Bitcoin price has increased from $3,210 to $3,588, by just about 12 percent against the U.S. dollar. In the same time frame, the cryptocurrency market added $11 billion to its valuation, avoiding a further drop below the $100 billion mark, which could have been critical for the short-term trend of the market.
Most major cryptocurrencies including Ethereum (ETH) and Bitcoin Cash (BCH) also have been able to rebound from low double digits, as technical indicators started to demonstrate extremely oversold conditions. But, traders and technical analysts remain cautious towards the short-term price trend of cryptocurrencies until major resistance levels are broken.
5. CLICK OF A BUTTON (The Daily Hodl)
Ripple powers cross-border transactions ‘in a matter of seconds’
American Express is revealing the results of a pilot test of Ripple’s xCurrent solution for cross-border payments. At the Wings of Change Europe conference in Madrid, Amex general manager of corporate payments Carlos Carriedo said Ripple’s technology has the potential to dramatically improve the sluggish status quo of international payments.
“We did a pilot. We did a test, partnering with Santander locally, and with Ripple to just do cross-border transactions. Cross-border transactions continue to be complex and slow. And in a matter of seconds, through this test, our clients were able to transfer funds in a very transparent and seamless way, from one part of the world, to the other one.”