Bitcoin (BTC) is an uptrend as the price seems to have entered a new ascending channel that can be seen on the 4H chart for BTC/USD above. This channel has held so far since the last few weeks of August and can be seen as the gateway to a trend reversal. However, the price seems to have lost the bullish momentum that kicked in soon as Bitcoin (BTC) closed last month above 21 EMA on the monthly time frame.
During a recent conference in South Korea, Binance CEO Changpeng Zhao responded to questions about the company’s relationship with controversial stablecoin Tether. He acknowledged that “concern is always there,” according to regional reporting. Binance is one of the largest holders of Tether.
Binance CEO Voices Concern Over Tether
According to Anca Faget of Romania-based Coindoo, the CEO of Binance, Changpeng Zhao, responded to questions about the company’s relationship with controversial stablecoin Tether. One question came from Ran Neu-Ner who asked about the impact a Tether crash would have on Binance.
The number of Bitcoin ATMs worldwide has surpassed the 3,000 milestone in the month of May at an accelerating pace of 6 new installations daily.
Bitcoin ATM Count Breaks 3,000
Despite the lackluster price action of Bitcoin and cryptocurrencies in recent months, the Bitcoin ATM industry appears as healthy as ever.
The latest data from CoinATMradar shows that the number of Bitcoin vending machines has passed the 3,000 milestone in mid-May and is currently at 3,125 machines worldwide.
On the subject of Bitcoin’s viability, there seem to only two conclusions. Either the number one crypto is either here to stay or it is just a fad. Thus, whether you support the “bubble” argument, the “currency of the future” notion or any other position, it all inevitably leads to the “boom or bust” conclusion or at least, so says Grayscale Investments managing director Michael Sonnenshein.
Two Mutually Exclusive Bitcoin Future Outcomes
According to Sonnenshein, there is no middle ground as far as Bitcoin is concerned. Speaking during a recent interview with Fortune, the cryptoanalyst said:
Will Bitcoin bore traders with a second day of sideways trading or are we bracing for the long-awaited breakout over $ 10k?
Bitcoin and other cryptocurrencies have ascended at a steady pace over the last 3 weeks and it appears that Bitcoin has developed an impressive immunity against the usual correction triggers of tax selling, regulatory fears, exchange hacks and other FUD that have plagued crypto-markets since Q1 2018. In fact, at the moment there appears that positive cryptocurrency stories outweigh the negatives.
Anyone swiping through the tech news on their tablet this week may have been startled by an unsavory story. Child pornography (CP) is permanently encoded in the bitcoin blockchain accoriding to mainstream media reports, making anyone who downloads the blockchain guilty of accessing CP. Not only is this old news, but it’s fake news. Understanding why calls for taking a quick dip into bitcoin’s code.
**On today’s episode of The Cryptoverse:**
There’s only one story worth talking about today, one story the dwarfs all others…. The IndaHash ICO! Just kidding, the Segwit2x hard fork has been cancelled which yes, means you won’t get free money but this has much wider implications.
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