Nick Chong

Blog Info Bitcoinist.com
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Blog website Link
Stats Has written 351 posts about cryptocurrency

Dec 03 2020

This DeFi app based on Ethereum just stole $12 million from its users

Dec 03 2020 Published at CryptoSlate under tags  altcoins defi ethusd

The Ethereum decentralized finance (DeFi) space was just hit with a "rug pull," with unknown developer(s) dragging in $12 million in what seems to be the biggest ostensible scam in recent weeks. Here is that story. What is Compounder Finance? Late last month, anonymous developers rolled out a project called "Compounder Finance" and a native token with the ticker...

Why This Trader Will Be Bullish as Long as Bitcoin Holds $17,800

Dec 03 2020 Published at Bitcoinist.com under tags  bitcoin price btcusd btcusdt xbtusd

Bitcoin has begun to show signs of weakness after a strong drop last week The coin currently trades for $19,000, below the $19,900 year-to-date highs but above the $18,200 local lows Some think Bitcoin remains in a bull trend as long as it holds the $17,800 region One analyst pointed to this region as a level of key technical importance due to the...

Dec 02 2020

Bitcoin’s rally from $12,000 has been mostly driven by “institutional hunger”: data

Dec 02 2020 Published at CryptoSlate under tags  adoption btcusd

Bitcoin has undergone a strong surge over the past two months that has brought it from the $11,000-12,000 range to new all-time highs just shy of $20,000. The strength of the rally is almost on par with the rally at the end of 2017. According to market data, this more than 65 percent rally has almost been solely driven by one group of...

On-Chain Analyst Says Bitcoin Could Hit $200,000 in 2021

Dec 02 2020 Published at Bitcoinist.com under tags  bitcoin price btcusd btcusdt xbtusd

According to Willy Woo, a prominent on-chain analyst, Bitcoin is likely going to move toward $200,000 to $300,000 in the coming year. He cited a technical price model that has accurately predicted some key inflection points in Bitcoin's price history. Bitcoin Could Hit $200,000 in the Coming Year: Willy Woo...

Breaking Down the Key Statistics of the Ethereum 2.0 Launch Date

Dec 02 2020 Published at Bitcoinist.com under tags  ethbtc ethereum ethusd

Ethereum 2.0 finally launched yesterday after months and even years of waiting. According to data from Dune Analytics, more than 900,000 ETH, worth over $500 million, was locked into Ethereum 2.0's Beacon Chain. This is 166% more than the threshold of 524,288 coins required to launch the upgrade. There were 2,700 unique depositors running over 20,000 validator nodes. Ethereum 2.0 Launch Stats...

Why one analyst is concerned after Bitcoin tapped new all-time highs yesterday

Dec 02 2020 Published at CryptoSlate under tags  analysis btcusd price watch

Bitcoin tapped new all-time highs on top exchanges yesterday, reaching $19,950 in some markets. The CME's Bitcoin futures market also saw a strong surge amid institutional buying activity. There has since been a $1,000 retracement to the high $18,000s. Some analysts are worried that this is the start of a wider correction....

Dec 01 2020

SUSHI surges 30% to multi-week highs after massive Yearn.finance (YFI) partnership

Dec 01 2020 Published at CryptoSlate under tags  altcoins defi sushiusd yfiusd

While many expected Bitcoin to steal the show as it has set a new all-time high, this has not been the case: unlike in October, altcoins have matched BTC's rapid ascent over recent days, moving in tandem with the lead cryptocurrency. No coin has shown this quite as well as SushiSwap's native SUSHI token. As...

Bitcoin Still Has Potential to Run 2,500%: Tyler Winklevoss

Bitcoin recently set a new all-time high just shy of $20,000 on some top exchanges. Despite the strong rally from the March lows, analysts think there is further room for a rally. Speaking on CNBC on Monday, Tyler Winklevoss of Gemini said that Bitcoin could rally 2,500% from current levels. BTC rallying 2,500% would mean it moves to $500,000....

Top Technical Analyst Says Bitcoin Is Forming a “Classic” Top Setup

Dec 01 2020 Published at Bitcoinist.com under tags  bitcoin price btcusd btcusdt xbtusd

Bitcoin has undergone an extreme rally over the past few days After bottoming in the $16,100 region last week, the coin has rocketed higher to $19,600 as of this article's writing The coin traded as high as $19,900 earlier today. John Bollinger is warning that Bitcoin could soon find a short to medium-term high. Bitcoin Could Soon Find a Top, Analyst Says Bitcoin...

Yearn.finance (YFI) “acquires” yet another DeFi protocol amid massive expansion plans

Dec 01 2020 Published at CryptoSlate under tags  altcoins defi yfiusd

Yearn.finance (YFI) is in the midst of massive expansion plans, acquiring Ethereum-based protocol upon Ethereum-based protocol to achieve its ambitions in the DeFi space. It began last week with Pickle Finance, the yield aggregator that underwent an immense hack of $20 million just days before the news of the acquisition broke. The acquisition...

Nov 30 2020

Community reacts to new Bitcoin all-time high on top exchanges

Nov 30 2020 Published at CryptoSlate under tags  analysis btcusd culture price watch

There it is, a new Bitcoin all-time high. Well, kind of. On at least two top exchanges Bitstamp and Binance, the price of the leading cryptocurrency passed its 2017 highs, reaching the $19,800 region. BTC has yet to surpass the $20,000 price point that many affiliate with "all-time highs" for the coin. Still, everyone is celebrating. Bitcoin erupts to new all-time highs Most...

Analysts Think Bitcoin is Running Up Against a Key Resistance Level

Nov 30 2020 Published at Bitcoinist.com under tags  bitcoin price btcusd btcusdt xbtusd

Bitcoin has finally begun to strongly recover since last week's lows near the $16,200 region. In the past 48 hours, the coin surged from the $17,000 region to $18,500 — the highest the coin has traded at in many days. Analysts are mixed over what comes next for Bitcoin. Some think that this rally is a precursor to new...

Ethereum DeFi space faces three notable bugs in the span of a Sunday morning

Nov 30 2020 Published at CryptoSlate under tags  defi ethusd sushiusd

The Ethereum DeFi space is scrambling this Sunday morning as this space has faced a series of bugs. Fortunately, it appears that all three are going to be solved without too many issues. Still, these bugs once again show how nascent this space is, and the importance of managing risk when dealing with these new and sometimes unaudited protocols. Let's break down what...

Nov 29 2020

Bitcoin returns to $18,000 as investors are mixed over what’s next for the bull run

Nov 29 2020 Published at CryptoSlate under tags  analysis btcusd price watch

Bitcoin is finally showing some strength after a brutal correction to $16,200 earlier this week. The leading cryptocurrency has bounced to $18,000 as of this article's writing, around 11 percent above the local lows....

Nov 28 2020

Analyst Who Predicted Bitcoin’s 2018 Lows Says Another Drop Is Likely

Nov 28 2020 Published at Bitcoinist.com under tags  bitcoin price btcusd btcusdt xbtusd

Bitcoin has undergone a strong drop since the highs of $19,500 seen last week A historically accurate analyst says that further losses are likely for the cryptocurrency The analyst shared a chart showing that Bitcoin is likely in the midst of trading in a dead cat bounce prior to further losses He cited the Elliot Wave form of technical analysis, which predicts that...

Nouriel “Dr. Doom” Roubini lambasts Bitcoin in 12-part Twitter thread: “it is worth $0”

Nov 28 2020 Published at CryptoSlate under tags  analysis btcusd people

A few weeks ago, some thought that Nouriel "Dr. Doom" Roubini was changing his tone on Bitcoin. After the 2008 Recession predictor lambasted the cryptocurrency for years, Roubini said in an interview with Yahoo Finance that he thinks BTC is a "partial" store of...

Crypto bull run returns with 25% Cardano (ADA) rally

Nov 28 2020 Published at CryptoSlate under tags  adausd altcoins price watch trading

It seems that the crypto bull run may be returning as Bitcoin, Ethereum, and altcoins mount a strong recovery from their lows. BTC is currently in the midst of pushing $17,700 as of this article's writing, which is a key resistance level that bulls should hope to hold. ETH is pushing past key resistances as well, moving to $540. Some altcoins...

Chinese reporter: China likely sold the $3+ billion in Bitcoin, Ethereum affiliated with PlusToken

Nov 28 2020 Published at CryptoSlate under tags  analysis btcusd ethusd

This morning, news broke that there has been a massive development in the PlusToken case. PlusToken was a 2019-era crypto Ponzi scheme that managed to trick mostly users in Asia into depositing billions worth of Bitcoin, Ethereum, EOS, and a number of other digital assets. The news released today by The Block found that $4.2 billion worth of...

Ethereum-based token of new DeFi trading platform surges 1,000% in two weeks

Nov 28 2020 Published at CryptoSlate under tags  defi ethusd

Bitcoin and Ethereum may be crashing but this hasn't stopped DeFi projects from gaining traction. While decentralized spot exchanges such as Uniswap and SushiSwap have gained much traction over their centralized competitors, there remain few platforms through which crypto users can obtain leverage on these volatile markets in a decentralized manner. SynLev launched just weeks ago, giving users the opportunity to short and...

Breaking Down the Effect of Bitcoin’s $3,000 Drop on the Futures Market

Nov 28 2020 Published at Bitcoinist.com under tags  bitcoin price btcusd btcusdt xbtusd

Bitcoin has undergone a strong drop since peaking at $19,500 just days ago The coin currently trades at $17,000 as of this article's writing Analysis compiled by Coinalyze found that over the course of the past few days, $1 billion worth of open interest has been wiped from leading Bitcoin futures exchanges This was accompanied How the Strong Bitcoin Drop Affected the Futures...

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