Why Breaking $49K Is Important For Bitcoin To See Another All-Time High

Bitcoin has once again dipped back down below its $47K resistance point. This time, the price of the digital asset looks to have turned its attention downwards. While this downward correction continues, it is important to know where this correction might lead. Price dips are not a novel concept in bull markets. In fact, price dips are often expected following a rally in the price of any digital asset. Related Reading | Why An 18% Drop In Bitcoin Could Still Be Bullish This drop in price is usually the market taking…

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Analysts say Bitcoin price pullback and profit-taking at $50K ‘was expected’

The euphoria seen across the cryptocurrency ecosystem over the past couple of weeks was tampered down on Aug. 26 as an early morning attempt by bulls to push the price of Bitcoin to $50,000 was soundly rejected.  Data from Cointelegraph Markets Pro and TradingView shows that following its rejection, the price of Bitcoin slid to a low of $46,457 before bulls managed to regroup and put a halt to the downturn. BTC/USDT 1-day chart. Source: TradingView Here’s what analysts are saying about Thursday’s price action for Bitcoin and a few…

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Altcoins sell off while exchange listings boost COTI and Conflux Network

Bears pressed harder on the market on Aug. 26 after Bitcoin (BTC) continued its pullback to an intra-day low at $46,250 and altcoins nursed near double-digit losses. While most of the market is seeing red, a few altcoins managed to notch notable gains due to exchange listings and new staking opportunities. Top seven coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were COTI, XYO Network (XYO) and Conflux Network (CFX).…

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Coinbase hires former Facebook exec as chief marketing officer

Kate Rouch will be joining major cryptocurrency exchange Coinbase after more than 11 years in various positions at Facebook.  In a Thursday blog post, Coinbase chief operating officer Emilie Choi said the company had hired Rouch as its new chief marketing officer, responsible for overseeing the exchange’s global brand, as well as product and performance marketing. Until recently, she was the global head of brand and product marketing at social media giant Facebook, but now aims “to bring millions more people into the cryptoeconomy.” “I am so inspired by what…

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Major hotel in Swiss Alps now allows crypto payments

After four years of debate, a five-star hotel in a luxurious area of the Swiss Alps is prepared to accept Bitcoin (BTC)  and Ether (ETH) as payment from guests. According to an Aug. 26 report from Swiss news outlet Blick, guests at the Chedi Andermatt hotel are now allowed to settle bills of more than 200 Swiss francs — roughly $218 — using Bitcoin or Ether. Prices are still seemingly set in fiat to reduce any risk of volatility, with the hotel converting any cryptocurrency received immediately into francs. “We have long…

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Chainlink (LINK) looks for momentum while pro traders target $40

Chainlink (LINK) is the leading oracle provider, and the project has onboarded over 281 crypto projects in 2021. Some of these include heavyweights like Huobi’s ECO Chain, the Hedera Governing Council, and Alchemix.  Launched in Oct. 2020, Chainlink’s verifiable randomness function, or VRF, has also gained notoriety among decentralized applications (dApps). VRF provides an automated source of randomness to ensure prizes and rewards are issued in a verifiably fair fashion. For example, on Aug. 13, Arbitrum — a layer-two Ethereum scaling solution — launched a beta mainnet service integrated with…

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Will Polkadot save decentralized finance from Ethereum’s scaling problem?

Web3, interoperability, and layer 0 are all terms tossed around when describing Polkadot. But what do they mean, and how will they impact the Internet and cryptocurrency market? Cointelegraph Research’s new report explores how Polkadot is tackling distributed ledger scalability and centralization of the web simultaneously.  For starters, imagine a world where Facebook is replaced by a decentralized social media application built on Polkadot. This is what projects like Subsocial are building in their platforms, which lets users determine what data to keep private and to share. Users can profit…

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‘Don’t kill crypto’ billboard goes up in Alabama in advance of House tackling infrastructure

Digital rights advocacy group Fight for the Future has publicly called out Alabama lawmaker Richard Shelby for preventing an amendment clarifying the role of crypto in the infrastructure bill to be addressed in the United States Senate. Fight for the Future has used donations it received in cryptocurrency to place a billboard in Birmingham, Alabama asking lawmakers not to support measures it believes would harm crypto and blockchain firms. Shelby, one of two senators representing Alabama since 1987, objected to the introduction of a crypto amendment to infrastructure bill HR…

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Cointelegraph’s The Market Report is now live

Following an impressive run, the Bitcoin (BTC) price was firmly rejected at $50,000 this week, casting some doubts about the resumption of the bull market. Cardano’s ADA, meanwhile, is finally showing signs of slowing down after doubling in two weeks.  Resident experts Jordan Finneseth and Marcel Pechman take a deep dive into where we are in the Bitcoin cycle and what we could expect heading into September, which is traditionally a volatile month for crypto. We also welcome Dan McDermitt from The Chart Guys to share some technical analysis on…

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3LAU introduces blockchain music platform Royal with $16M raise

Electronic dance music producer and DJ Justin Blau, better known by his stage name 3LAU, has officially announced the launch of a blockchain-based music investment platform Royal. The announcement comes in conjunction with the platform raising $16 million in a seed funding round led by crypto-focused investment firm Paradigm and Peter Thiel’s Founders Fund, Forbes reported on Aug. 26. Founded by 3LAU and his college friend JD Ross, Royal is a new platform aiming to enable fractional music ownership through Royal’s own version of nonfungible tokens, or NFTs, referred to…

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