Half of Predictions Are Right Half the Time — BTC’s Halving Divides Opinions

As the Bitcoin halving approaches, analysts are guessing whether Bitcoin’s price will actually increase after it goes through the halving event. The renowned Mike Novogratz, founder of digital assets merchant bank Galaxy Digital, has once again voiced his predictions on the price of Bitcoin (BTC) in light of the impending Bitcoin halving set for May 2020. According to Novogratz, the inceptive cryptocurrency will likely breach the $20,000 benchmark in 2020. The prediction comes a couple of months after Novogratz stated that BTC would reach $12,000, right before the latest rally.…

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Are the BZx Flash Loan Attacks Signaling the End of DeFi?

Following two significant attacks on lending protocol bZx, what are the potential ramifications for the DeFi sector? Earlier this week, the decentralized lending protocol bZx was exploited in back-to-back “flash loan” attacks. While the two exploits were distinct, the end results remained the same. In total, $954,000 was gleaned from the platform. But what exactly happened? Was it an exploit, a simple case of arbitrage or a malicious attack? And where does decentralized finance go from here? It hasn’t been a good PR week for the DeFi sector. For some,…

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BTC Crash, Fraud and Anti-Hodling: Bad Crypto News of the Week

This week’s crypto and blockchain news in audio format. The Bitcoin community collectively facepalmed after BTC fell back below $10,000. It was the result of an $800 crash that took place over the course of one hour, the fifth-largest one-hour drop ever recorded. But some analysts are calling for an unprecedented rally ahead of the pending halving. This is largely due to the appearance of a “golden cross,” when the 50-day moving average crosses the 200-day moving average. In today’s market terms, that calls for a BTC price of $26,000…

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FCoin Blames Poor Auditing for Shutdown, but Others Suspect Exit Scam

Regular, non-random Bitcoin outflows from FCoin’s cold wallet point to an exit scam amid the crypto exchange platform’s shutdown. Less than two years after bursting onto the scene, Chinese crypto exchange FCoin has shut down its operations. The platform, founded by Zhang Jian, also says it may be unable to pay the 7,000 to 13,000 Bitcoin (BTC) — about $67 million to $125 million — that is owed to its customers. Jian, the former chief technology officer of Huobi, tried to explain the reasons for the platform’s insolvency, identifying poor auditing…

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Bitcoin Dominance 6-Month Low Doesn’t Mean Price Is ‘Ultra-Bearish’

This week’s 8% tumble and subsequent failure to recoup gains is no cause for worry, says Cointelegraph’s Michaël van de Poppe. Bitcoin (BTC) continued trading in a narrow corridor on Feb. 22 as markets awaited fresh action after last week’s sudden 8% price drop. Cryptocurrency market daily overview. Source: Coin360 BTC “correcting in an uptrending market” Data from Coin360 and Cointelegraph Markets showed BTC/USD spending another day in a stable zone between $9,500 and $9,800, having stayed there since Thursday. Previously, traders had reacted with bewilderment as the pair dumped…

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Bitcoin Price Bullrun May Last 1000 Days as 2020 Now Best Average Year

Volume-weighted average price hits a new record this year as other data implies that Bitcoin is 400 days into a 1,000-day bull cycle. Bitcoin (BTC) is worth more in 2020 than any other year it has existed — and historical data suggests that its price will continue climbing for another 19 months. Data uploaded to Twitter by fund partner James Todaro on Feb. 21 reveals that in terms of volume-weighted average price, 2020 is Bitcoin’s best year ever. BTC volume-weighted average: 2020 biggest year The volume-weighted average calculates the Bitcoin…

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Bitcoin Cash Faces ‘Slow Death’ After Alleged $30M Hack — Commentator

A SIM card attack reportedly sees a total of $45 million stolen, while the consequences for Bitcoin Cash will be severe, warns Dovey Wan. Altcoin Bitcoin Cash (BCH) has become the subject of intense speculation after a major investor claimed he lost $30 million in a wallet hack.  In a now-deleted Reddit post from Feb. 22, the investor, who appears to be Dreamhost founder Josh Jones, said the attacker also stole 1,500 Bitcoin (BTC) worth $14.4 million.  Hacker steals reported $45M  The hack came in the form of Jones’ SIM…

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NBA & NFL Believe in Non-Fungible Tokens, But Not Contract Tokenization

NBA and NFL embrace new technology such as Non-Fungible Tokens that allows greater fan engagement, but no player contract tokenization any time soon. Cointelegraph was on the ground for NFT NYC, event taking place a couple of hundred feet from Times Square dedicated to non-fungible tokens. While most of the companies at NFT NYC are early-stage startups still looking for their users, two attending organizations have hundreds of millions of fans around the world. Adrienne O’Keeffe, associate vice president of partnerships at the NBA, and Sophie Gage, counsel at the…

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Calibra Technical Lead Tells Why Facebook Built New Language for Libra

Digital lead for Calibra explains why Facebook has built a new programming language called Move to power the Libra blockchain. Digital lead for Calibra Ben Maurer gave a presentation on Facebook’s Move programming language at the Stanford Blockchain Conference on Feb. 19. Move was created by Facebook to provide a safe and programmable foundation for the Libra blockchain. Maurer explained that Move will make it easier and more secure to program financial applications that run on Libra. He said: “Move is a new smart contract language built into the core…

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No Bitcoin ETF Yet: A Deep Dive Into the Situation in the US

Several entities with pending crypto ETF proposals in the U.S. give their thoughts as to why no such crypto product has yet passed the test with the SEC. Over the past several years, many entities have submitted proposals for regulated Bitcoin (BTC) exchange-traded funds, or ETFs in the United States. So far, the Securities and Exchange Commission, or SEC, has not approved any official Bitcoin ETF product for the mainstream public. What is an ETF and what is the holdup when it comes to BTC? As crypto gains increased trust…

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