Bank of America outlines 4 potential benefits of El Salvador’s Bitcoin strategy

Bank of America, one of the nation’s largest financial institutions based on total assets, believes El Salvador could have a lot to gain with its latest foray into Bitcoin (BTC). In a report published last week, analysts at the bank said El Salvador’s decision to recognize BTC as legal tender could streamline remittances, promote financial digitization, provide consumers with greater choice and open up the country to American firms and digital currency miners. The bank noted that remittances account for a staggering 24% of El Salvador’s gross domestic product, but…

PayPal reportedly assembling crypto team in Ireland as Bitcoin adoption grows

Global payments provider PayPal is in the process of recruiting for several cryptocurrency-related positions at its Ireland offices, further highlighting the company’s ambitions in the rapidly growing digital asset market.  The Dublin-based Irish Independent, one of the country’s most popular news outlets, reported Sunday that PayPal is looking to fill various crypto-focused roles in compliance, anti-money laundering and business development for its Dublin and Dundalk offices. Related: PayPal set to launch crypto trading in the UK and may embrace DeFi PayPal launched a dedicated crypto and blockchain business unit earlier…

Bitcoin sellers in ‘disbelief’ or BTC price wouldn’t still be at $41K — Analyst

Bitcoin (BTC) closed July above $41,000 in a “bullish engulfing” candle that dramatically upends its previous downtrend. In a tweet on Aug. 1, investor and entrepreneur Alistair Milne joined many celebrating a classic return to form for BTC price action. Bitcoin refuses to flip bearish After seeing three straight monthly red candles in a row, BTC/USD held onto late gains to post a monthly close that few had anticipated. Despite the dip to $29,000, bears failed to stay in the driving seat as July drew to a close as resistance…

Pro traders look for this classic pattern to spot Bitcoin price reversals

Every trader aims to buy low and sell high, but only a few are able to muster the courage to go against the herd and purchase when the downtrend reverses direction.  When prices are falling, the sentiment is negative and fear is at extreme levels, but it’s at times like these that the inverse head and shoulders (IHS) pattern can appear. The (IHS) pattern is similar in construction to the regular H&S top pattern, but the formation is inverted. On completion, the (IHS) pattern signals an end of the downtrend…

Amazon rumored to be accepting Bitcoin, MicoStrategy pledges to buy more BTC, Bitcoin struggles at $40K: Hodler’s Digest, July 25-31

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week   Amazon plans to accept Bitcoin payments this year, claims insider The crypto community was going wild at the beginning of this week after rumors circulated that Amazon was planning to accept Bitcoin payments.  The rumors started after Amazon posted a job opening for a…

Bitcoin ‘supercycle’ sets up Q4 BTC price top as illiquid supply hits all-time high

Bitcoin (BTC) is gearing up for a comeback which should lead it to repeat classic bull run years 2013 and 2017, analysts are arguing. As $42,400 local highs appeared on July 31, narratives around the market are flipping back to a bullish Bitcoin “supercycle.” Bulls come out for 2021 close Bitcoin has been busy repairing the impact of the China miner rout since mid May, but last week’s price advances were stronger than most anticipated Related: Bitcoin open interest mimics Q4 2020 as new report ‘cautiously optimistic’ on BTC rally Rather…

If you have a Bitcoin miner, turn it on

In the last few weeks, the Bitcoin (BTC) mining market has experienced a black swan event, leading to a lot of uncertainty and confusion surrounding the future of the market. This is why I felt it was right to give the public a quick update and explain why it’s a fantastic time for Bitcoin mining in the United States. Bitcoin miners are rewarded Bitcoin for securing the network and for each block they mine. As more miners participate, the difficulty rate increases and the reward for each individual miner’s security…

Bitcoin records rare 10-day winning streak as BTC price taps $42K ceiling

Bitcoin (BTC) shot to new highs of $42,400 on July 31 in a surprise attack on range resistance which sellers failed to squash. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin seals 10 green candles in first since 2012 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining for a tenth straight day across exchanges, reaching $42,420 on Bitstamp. A subsequent cooling-off preserved most of the gains, with Bitcoin circling $41,900 at the time of writing, still up over 8% over the past 24 hours. In trading circles, talk focused…

Five Bullish Monthly Charts That Suggest Bitcoin Will Blast Off

Tomorrow is the last day of the month of July, and Bitcoin is at a pivotal moment in its lifetime. The crossroads of a possible bear market or bullish continuation is here, and the path chosen will dictate the trend for potentially months or years to come. The monthly timeframe could provide clues as to what might be next, and we’ve got five ultra bullish technical charts and reasons why Bitcoin is more likely to blast off than fall further from here. Critical Monthly Close Could Determine Crypto Cycle Crossroads…

GoldenTree Asset Management is reportedly investing in Bitcoin

New York-based asset management firm GoldenTree has reportedly added Bitcoin to its balance sheet, though the amount of this supposed investment remains unknown. According to a Friday report from financial news outlet The Street, the firm with roughly $45 billion in assets under management has purchased some Bitcoin (BTC) but has seemingly shied away from other cryptocurrency investments. Citing two sources with knowledge of the matter, the publication reported the BTC purchase followed discussions between executives regarding hiring staffers familiar with crypto investments. Executives at the firm, including founder Steven…