TOP 10 crypto world news for September 28, 2020Colin Baseman
Forex Signals about Employment in the USA
Markets keep on pushing higher and their mission now is to end the trading week in the country. At the same time, analysts state that the commodity currencies brought plenty of selling pressure again. There are two names that seem to be leading the charge and those are NASDAQ and SPX. Specialists refer to the latest charts to analyze the trend and see that it started to turn, and yet the price is still soft, according to traders.
Crypto Exchanges’ Vulnerability by Design
It’s not surprising that nowadays the crypto market faces and copes with hundreds of hack attacks. There are plenty of scams and fraud in the crypto space and many specialists agree that most crypto exchanges are weak by design. All these platforms act as a single point of failure and they are as sensitive to security issues as any other website. However, here security is more important since participants take exchanges to protect their funds.
Projects May React to KuCoin Attack in a Different Way
KuCoin’s official representatives announced that at least one hundred and twenty-nine million USD of the funds that got affected are safe. However, the news made many projects react in due time to protect participants’ holdings and won’t let them be moved off to other platforms. Most of the affected wallets can be recovered, according to specialists. Luckily, even though the attack was unexpected, many projects quickly reacted to the breach.
Signals for Crypto Pairs and Technical Outlook
EUR/USD dropped last Friday. The pair remains below both fifty MA and two hundred MA. All this may serve as a bearish signal. GBP/USD did all possible to break below the 1.27 level a few days ago. Yet, its attempts were vain. The pair remained above fifty MA, and yet below two hundred MA. As experts state, this is a sign of relative uncertainty. BRN/USD is still inside the narrow range for the last four days while BTC/USD shows signals of the bullish trend.
More than 17K BTC in the Past Week
Grayscale investments reportedly managed to scoop up more than seventeen thousand BTC in the past week. The company purchases almost one hundred and eighty-two million USD worth of top-ranked cryptocurrency. BTC dominance is around sixty percent again. All in all, the company’s BTC position is worth about four billion seven hundred USD. Also, the team demonstrates its position on the official website to make its activities transparent.
KuCoin Hack May Lead to ETH Price Drop
Some specialists claim that the recent KuCoin hack may lead to the ETH’s price drop. On the other hand, traders d not seem to feel worried about that. News reports announce that the unidentified cybercriminal is now selling the assets on Uniswap. All transactions are traceable – for this purpose, the system employs blockchain explorers. The stolen amounts will leave traces and the platform will suspend addresses linked to the tainted funds.
EOS, TRX, and Lumen Give Daily Analysis
The majors are likely to start the day with bullish trends. EOS rose yesterday, although that was a mixed start – it rose before hitting reverse. Lumen fell by 0.49% a day ago. That move followed the loss faced on Saturday. The start to the day is bullish and sees a rise. The asset left the major support and resistance levels untested. TRX seems to have slid yesterday by 2.32%, then it reversed again. A bullish start to the day faced a high before hitting reverse.
BTC Shows More Upside Than Precious Metals
Experts admit that it is too dangerous and risky to be in stocks. They explain it by the top-ranked crypto having more upside than gold. Analysts who are bearish on the U.S. dollar are usually bullish on BTC. Moreover, there’re plenty of professionals who predict that the cryptocurrency has more upside than the precious metal. Volatility is likely to stay high and that is when the market can experience the risks. Many will continue to sell the dollar.
Users Employ Bots to Hit Volatile Trading
Investors might flock to bot trading. This will be done to capitalize on the price swings in the three hundred billion USD crypto market. More than eighty percent of BitUniverse’s users choose to run a grid trading algorithm on a daily basis. They use the automated buy and sell tools to capitalize on normal price volatility. The mentioned platform belongs to a new wave of startups that welcome regular individuals to trade ETH and BTC.
What Happens After BTC Coins Are Mined?
Recent data proves that the top-ranked cryptocurrency only has two million and five hundred thousand coins left to mine. Now many crypto market analysts are trying to predict what happens next. Half of the coins that the crypto has will be mined in the nearest four years. The last BTC is said to be mined in 2140 while the first coins were mined eleven years ago. The halving makes the benchmark crypto a store of value like gold. Prominent firms buy BTC as a hedge against inflation.
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