Coinspeaker TSLA Stock Jumps 6.61%, Tesla Preferred Choice for Investors over Toyota, General MotorsThe global automobile industry looks well poised for a technological revolution and America’s electric-car giant Tesla Inc (NASDAQ: TSLA) seems well-poised for it. Tesla (TSLA), which has been hated and ridiculed in the past for its ambitious projects, is now the preferred choice for investors. Also, the CNBC report shows that investors are showing more confidence in Tesla over other traditional giants like Toyota Motor Corporation and General Motors (NYSE: GM). The recent coronavirus pandemic has completely changed the dynamics of the automobile industry.Investors feel that in the post-COVID-19 economy, Tesla can lead the industry with its robust manufacturing facilities. Besides, Tesla has much-advanced technology at play for next-generation electric and autonomous cars. Being an early entrant in the game of electric and autonomous vehicles, Tesla has huge leverage in comparison to other giants.While other companies stayed in denial about the consumer acceptance of electric cars, Tesla worked on accelerating its growth. Tesla came out as a clear winner after its Q4 2019 results released earlier this year. Just before the Coronavirus pandemic hit the global economy, Tesla (TSLA) shares surged a whopping 100% in the first 40 days.By mid-February, Tesla’s share price climbed all the way to above $900 taking the company valuations over $150 billion. However, with the pandemic situation, the TSLA stock price remained largely volatile. But over the last month, Tesla’s stock has yet-again surged 60% from the low of $400 and around. At press time, the Tesla (TSLA) stock is trading at $732 with a market cap of $134 billion.Morgan Stanley Survey Bring the Disclosure: Tesla, General Motors or Toyota StockTo get the pulse of the market, Morgan Stanley conducted a survey among a group on investors associated with them. They asked them that if they have to invest $10 billion over the next five years, which of the top automobile companies would they choose. 56% of them selected Tesla, 24% of them selected Toyota, and 20% selected General Motors.Apart from Morgan Stanley, several other analysts have vouched for buying Tesla in the long run. The company’s positive cash flow, robust technological prowess, can be some of the key factors for Tesla stock to perform well over the next five years.However, there are still a few analysts who are not much confident about Tesla in the short term. After the recent price rally in TSLA stock, Bank of America downgraded its to underperform from neutral. According to BoA, the recent rally has pulled Tesla’s valuation way over its justification.Similarly, analysts at BofA Securities have given a sell cal for Tesla in the short term. These analysts have predicted several challenges for Tesla in the near future majorly involving production challenges. This could ultimately impact the company’s cash flow ultimately affecting its revenue cycle.TSLA Stock Jumps 6.61%, Tesla Preferred Choice for Investors over Toyota, General Motors
If you reside in a country where sports betting is illegal, then it is impossible to place a bet regardless of how advanced the website of your preferred sportsbook is. The reason this happens is because you will eventually need to stake using the country’s currency. Fortunately, this needs not to be an issue ever again, thanks to cryptocurrency. This blockchain technology has transformed the gambling industry, and it is no surprise these two industries are experiencing exponential growth over the last few years. Consequently, there has been an increased emergence of crypto bitcoin bookmakers in an attempt to allow everyone the opportunity to place a bet.
Furthermore, this blockchain technology has further revolutionized the gambling space by making it safe, fairer as well as more competitive. This has been made possible by the removal of the previous restrictions traditional operators held on players such as banks or other intermediaries while guaranteeing complete anonymity. With more users opting for cryptocurrency such as bitcoin to place their bets, then this blockchain technology will undoubtedly have a tremendous impact on the gambling industry in the years to come. Therefore, the combination of gambling and cryptocurrency is, without a doubt, a match made in heaven.
What is a Blockchain Gambling website?
Blockchain gambling sites are online sports betting platforms or casinos which specialize wholly in the use of cryptocurrency when making deposits and withdrawals. Therefore, this means you need not use the conventional methods of payment such as the e-wallet or credit/debit card, when funding your account. In contrast, you use some of the popular cryptocurrency options such as Ethereum, Bitcoin, just to mention a few.
However, every other basic concept, the blockchain gambling website, is similar to the traditional platforms. This means you still have access to the numerous conventional casino games such as live dealers, slots, table games like roulette, keno, and progressive jackpots by clicking a button. There are also other blockchain gambling websites that provide you access to all the different sports betting facilities and have over 25 digital currencies. Some of the sports available include tennis, cricket, football, soccer, rugby, and even the less popular events such as badminton and darts. Additionally, you also get the option of placing a bet either as the game is being played or a pre-match bet just like conventional platforms.
Why is the popularity of Crypto Bitcoin Bookmarkers increasing?
There are numerous reasons as to why cryptocurrency bookmakers are increasingly becoming preferred among most players. These include;
When opening an account with a blockchain betting website, you are not required to give out your details. Because of this, your identity is guaranteed and can go on the place your bets without having any unwarranted concerns bias. This is primarily an appealing idea since, on the traditional betting platforms, you are required to provide some personal information. It includes uploading either a copy of your driving license or passport as well as proof of address. Conversely, this is not a requirement when opening an account on a blockchain gambling website.
Account opening is easy and straightforward
Creating an account on a blockchain website will only take you a couple of seconds. This process is simple and straightforward since the only necessary information is your username, email address, plus a strong password. Traditional betting websites, on the other hand, need you to provide lots of details, including your first and last name, date of birth, nationality, home address, among many more.
Blockchain gambling sites, including bitcoin bookmakers, make use of a decentralized structure, hence ensuring you enhanced security. Thus, when using this blockchain technology, you, too, become a casino member. In addition to this, some bitcoin casinos permit you to fund the casino and later on take a slice of its profits. The same can be seen in various other transactions, for instance, some types of betting having a unique kind of transaction.
Provably fair games
One of the primary concerns you must-have when playing software-games online, including video poker, slots, and blackjack, is the legitimacy of the game’s result. It is due to these fears that have seen the introduction of the “Provably Fair” concept by the blockchain gambling sector. Thanks to this concept, you are ensured integrity as well as fairness in all the games.
This is done by not only taking a seed from both the player as well as the casino and then the following gaming result generated through cryptography. Therefore, this leaves you 100% confident that all the games are true and fair, plus you can choose to confirm the data if you wish to use the explorer. This explorer usually performs the role of a publically provable ledger to ensure each bet that is logged in remains indisputable. With this in place, blockchain gambling websites make sure you never need to harbor any concerns about its credibility.
Simple withdrawal process
A complex withdrawal process is one of the most irritating things you will encounter when using traditional betting websites. This is because you will have to give the operators about one or two days to process your withdrawal request. Consequently, you also need to wait for another one to five working days for the funds to be disbursed by the payment issuer. Nevertheless, this is not an issue you will have to deal with when withdrawing from a blockchain website since the funds get sent directly to your private wallet within a couple of minutes.
Every transaction completed through cryptocurrency creates a record that can neither be deleted nor changed. Thus, it is easy to verify whenever a transaction has taken place. This then further improves the transparency and honesty of blockchain gambling websites as you can easily access your money and see your winnings.
More competitive odds
Traditional gambling websites usually go through a lot of regulation, especially due to the use of the fiat currency when depositing and withdrawing funds. Subsequently, this leads to higher operational costs for these gambling websites, thereby making the house-edges to rise and the sport betting odds to reduce and become less competitive.
Conversely, blockchain gambling websites do not go through a similar level of regulatory restrictions since they do not use fiat currency. This translates to reduced house-edges on casino games as well as the posts betting having more competitive odds.
How do you bet with Bitcoin?
In the recent past, the popularity of crypto bitcoin bookmakers such as stakehunters.com has soared incredibly. All this has been aided by the quick rise of bitcoin technology to place bets on the various blockchain betting platforms. With their trademark traits of guaranteed anonymity as well as low fees, it is clear why these websites are experiencing a rapid increase in usage.
In this section, you will be taken through essential things to know when looking to start placing bets using bitcoin bookmakers, and these include;
Bitcoin betting exchange
Steps of creating a bitcoin wallet
How to deposit funds into your bitcoin account
Bitcoin Betting Exchange
You should understand two essential components when looking to understand the concept of bitcoin betting exchange. The first element is comprehending the bitcoin and the second to understand betting exchanges.
So, what exactly is bitcoin betting exchange? This concept is similar to that of any other betting exchange, but in this particular scenario, bitcoin is used as the currency. All this rather straightforward, so what is the difference between the traditional bookmaker to the bitcoin betting exchange?
The bitcoin betting exchange is similar to the standard betting exchange, but in this case, the accepted currency is Bitcoin. Is there any difference to the traditional bookmaker?
Well, yes, there is a difference between these two. The primary difference lies in the fact that the use of bitcoin characterizes the bitcoin betting exchange as its currency, unlike the standard betting exchange. Other than that, all other operations are similar to the standard betting exchange, whereby you place bets between each other. Furthermore, you can choose to either provide odds that other users should back or back the odds other players offer. This approach is referred to as “laying odds,” and it enables the parties involved in the exchange to perform the duty similar to that of a bookmaker.
How does the betting exchange then get to make money varies depending on the betting exchange? However, when playing, you always pay a commission on all your betting activities, with this the main method through which betting exchange gets to make money. This commission usually varies from one betting exchange to another.
How do you place a bet at a Bitcoin sportsbook?
Once you have your bitcoins, you should proceed and look for a good bookmaker to then start placing your bets. There are many crypto bitcoin bookmakers to choose from, including stakehunters.com. Nevertheless, you should always remain cautious during your search since there are also cons on the market that are always ready to steal your hard-earned money.
After choosing a suitable bitcoin bookmaker, you should then proceed and register, and the sign-up process is as follows;
Step 1: Create an account with the bitcoin bookmaker
This registration step is similar to that seen on the regular bookmakers, meaning you should start by choosing your preferred bitcoin bookmaker. However, the information required is very minimal since all that is necessary is the date of birth, email address, and password. Therefore, you can open an account and remain throughout the globe, even in countries with strict restrictions such as the United States.
Step 2: Fund your bitcoin account
The process of funding your bitcoin bookmaker’s account is the same across the different bitcoin operators. You should then proceed and take your bitcoin address from your crypto bitcoin bookmaker, head over to your wallets and then send money to it. After that, log in to your wallet, and when looking to send money, simply click the Request/Send button.
You will then be directed to another page showing the recipient address at the top where you can send funds. To do this, you just need to paste the bitcoin address copied from the bitcoin bookmaker and then enter the amount you want to deposit and then click “Send Funds.” A confirmation message will appear on the screen to confirm whether you are sure about proceeding with the payment or to cancel the transaction in case there is an issue.
This transaction is virtually instantaneous, meaning you will have the funds available to stake when you log in to your bitcoin bookmaker account.
Step 3: Select the market and proceed to place a bet
This step is relatively straightforward and similar to that usually seen on the traditional bookmakers. Therefore, you will see a list of events and sports after logging in to the bitcoin bookmaker’s website and pick the one you want. Consequently, the markets, as well as the odds, will be displayed, and you can then proceed and stake your bets in a few clicks.
Steps of withdrawing funds from a bitcoin bookmaker
Here comes the fun part, and this entails the withdrawal of funds from your account. The steps to follow during this process are;
Step 1: Withdraw from your bitcoin bookmaker to your wallet
You should start by moving your bitcoins to your wallet from the bookmaker using your bitcoin email address. This is usually seen at a noticeable area in the bitcoin wallet. Subsequently, copy this email since it will be used by the crypto bitcoin bookmaker when sending the bitcoins there.
Once you are through, head over to the cashier section of the sportsbook and select withdrawal, then a simple form will open and then proceed to fill in the details. This form is the same as that of many bitcoin gambling companies, and it contains the amount you want to withdraw, the fee incurred as well as the bitcoin address.
You should complete all these fields and then proceed to cash out your winnings to the bitcoin wallet. For many of the bitcoin bookmakers, this takes not more than an hour to reach your account.
Step 2: Withdrawing your funds from the bitcoin wallet
Once the money reaches your wallet, you will get bitcoins that you can choose to either concert to the conventional currency and get deposited into your bank account or use to purchase items online.
The process of converting your bitcoins into your preferred currency, for instance, EUR or USD, starts with you selling the bitcoins. To do this, you need to click on the “Buy/Sell” button and proceed to enter the required information for the bitcoin conversion process to be initiated. You can then withdraw the money from your bank account that has been linked to your bitcoin wallet. To complete this process, you should press the “Withdraw” button on the USD/EUR wallet section and enter the amount you want to be transferred into your bank account.
Despite all these steps seeming somewhat complicated, they are not, and you will eventually have an easier time after getting used to the procedure.
After reading through this article, you now have an idea about how cryptocurrencies such as bitcoin have revolutionized the gambling industry. Furthermore, you also understand the steps on how to go about withdrawing and depositing funds into your preferred bitcoin bookmaker’s account. Consequently, you can proceed with your betting activities without having to worry about the strict restrictions put in place thanks to the decentralized system of the cryptocurrency as well as guaranteed anonymity. Therefore, you can go ahead and enjoy betting and withdrawing your winnings peacefully without any worry in the world.
Image by Gianni Crestani from Pixabay
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EOS price is trading nicely above the $2.365 and $2.330 support levels against the US Dollar.
The bulls are likely to gain strength if there is a clear break above $2.800.
There is a crucial bullish trend line forming with support near $2.480 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).
Dips remain well supported on the downside as long as the price is above $2.280.
EOS price is showing a few positive signs against the US Dollar, similar to bitcoin. However, the bulls need to surpass $2.700 and $2.800 for a strong rally in the near term.
EOS Price Analysis
In the past few days, there were mostly broad range moves in EOS price below $2.800 against the US Dollar. The price declined a couple of times, but dips remain well bid above the $2.300 support area.
The recent swing low was formed near $2.439 before the price jumped above the $2.500 resistance. It even surpassed the $2.600 level and the 55 simple moving average (4-hours). A high is formed near the $2.657 level and the price is currently correcting lower.
There was a break below the $2.600 level. The price even traded below the 23.6% Fib retracement level of the recent rise from the $2.439 low to $2.657 high.
It is now approaching the $2.580 support level and the 55 simple moving average (4-hours). The first key support is near the $2.550 level. It is close to the 50% Fib retracement level of the recent rise from the $2.439 low to $2.657 high.
Moreover, there is a crucial bullish trend line forming with support near $2.480 on the 4-hours chart of the EOS/USD pair. If the price fails to stay above the $2.550 support and the trend line, it could decline towards the main $2.350 and $2.300 support levels.
Conversely, the price might continue to rise above the $2.650 and $2.680 levels. The first key barrier is near the $2.750 level. The main resistance for a larger upward move is seen near the $2.800 levels. Above $2.800, the bulls are likely to aim a test of the $3.000 resistance.
Looking at the chart, EOS price is currently trading in a bullish zone above the $2.550 and $2.500 support levels. As long as there is no close below $2.500, the bulls are likely to eye a break above the $2.800 resistance.
4-hours MACD – The MACD for EOS/USD is slowly losing pace in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is now correcting lower towards the 50 level.
Major Support Levels – $2.255 and $2.350.
Major Resistance Levels – $2.750 and $2.800.
The post EOS Price Analysis: Bulls Eyeing Larger Bullish Breakout appeared first on Live Bitcoin News.
Litecoin price is trading higher after it formed a support base near $40.0 against the US Dollar.
LTC price is now facing a couple of key hurdles near the $42.50 and $42.60 levels.
There is a key bearish trend line forming with resistance near $43.05 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
The pair must surpass the $43.00 and $44.50 resistance levels to start a strong uptrend.
Litecoin price is facing a couple of key hurdles against the US Dollar, similar to bitcoin. LTC price might struggle to continue higher above $43.20 and $44.50 in the near term.
Litecoin Price Analysis
This past week, there was a bearish reaction in bitcoin, Ethereum, ripple, and litecoin against the US Dollar. LTC price declined below the $40.50 support level, but it remained well bid above the $39.50 and $38.00 support levels.
A low is formed near $39.54 and the price is currently rising. It surpassed the $41.00 resistance area and the 55 simple moving average (4-hours). Besides, there was a break above the 23.6% Fib retracement level of the downward move from the $44.53 high to $39.54 low.
However, it is currently facing hurdles near the $42.00 and $42.05 levels. The 50% Fib retracement level of the downward move from the $44.53 high to $39.54 low is also acting as a strong resistance.
There is also a key bearish trend line forming with resistance near $43.05 on the 4-hours chart of the LTC/USD pair. Therefore, litecoin price must surpass the $42.00 and $43.00 resistance levels to continue higher.
The main resistance is still near $44.50, above which the price is likely to start a strong rise in the coming sessions. In the mentioned case, the price is likely to surge towards the $47.50 and $48.00 levels in the near term.
Conversely, the bulls might fail to gain strength above the $43.00 resistance area. In the mentioned case, the price could retreat lower towards the $40.00 level. The main supports are near the $39.50 and $38.00 levels, below which there could be a sharp decline to $35.00.
Looking at the chart, litecoin price is clearly facing a few important hurdles near $42.00 and $43.00. It could either start a strong rally above $43.00 or it might dive back towards $38.50 or even $35.00.
4 hours MACD – The MACD for LTC/USD is slowly losing momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is now just below the 50 level.
Key Support Levels – $39.50 and $38.00.
Key Resistance Levels – $43.00 and $44.50.
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The price of bitcoin – the world’s number one cryptocurrency by market cap – has fallen to just over $6,800 at the time of writing following news that the oil market in America tanked two days ago.
Bitcoin Takes Another Tumble
Despite spending the last several days trading above the $7,000 mark – which it had crossed for the second time in a month – the digital asset that everyone has come to know and love is once again being affected by outside market commodities and has taken a turn for the worse. The good news is that the drop isn’t huge; while BTC had fallen to $6,700, it has since recovered more than $100.
An expiring oil futures contract set for May delivery ultimately fell into negative territory, marking the first time in history that such a contract has done so. Oil has been hit hard over the past month following an all-out war between OPEC and Russia after the latter nation said it was reluctant to potentially lower its daily oil barrel production rates.
Both parties have since come to an agreement, but now it’s looking like the damage was done, as bitcoin wasn’t the only asset in need of medical care. Other cryptocurrencies, such as Ethereum, dropped by more than ten dollars in the span of an hour, leading to widespread uncertainty throughout the space.
On top of that, stocks also took a tumble with the Dow Jones collapsing by nearly 600 points. The fact that everything ultimately fell together raises more evidence of a longstanding argument: that bitcoin moves in correlation with stocks and other tradeable assets. When they drop, it drops, and when they spike, bitcoin will follow suit.
What are serious traders and analysts to think? As it turns out, the world’s primary cryptocurrency is experiencing very shaky conditions following the spread of the coronavirus pandemic, which first poked its ugly head out from beneath the rubble in late 2019. Since then, bitcoin has been on something of a roller coaster ride, at first spiking like nobody’s business. The asset drove itself into the $10,300 range, reaching a high for the year and giving many people a lot of hope about the future.
How Long Is This Going to Last?
Sadly, this wasn’t meant to be. COVID-19 has seemingly continued to exacerbate market conditions, driving stocks, oil and crypto into the ground and leading many people to seek out cash as protection against failing market conditions. To obtain that cash, many have sold other assets to ensure they can maintain a certain level of wealth.
Despite showing strength and resilience over the past few weeks, bitcoin is still enduring a hard time, and it looks as though it will continue to do so granted other assets remain in the dark.
The post Bitcoin Sheds Another $200 Off Its Price appeared first on Live Bitcoin News.
It’s not uncommon to see sports players and crypto working together, and in the case of offensive tackle Russell Okung of the Carolina Panthers, bitcoin is something he’s crazy about.
Russell Okung Loves His BTC
After shooting out a tweet last year that read “Pay me in bitcoin,” it can’t become any clearer than it already is that Okung is looking for additional ways to grow the crypto industry and his digital wealth. Recently, the NFL player announced he would be investing in a company called Fold, which is joining hands with Visa to unveil a new line of crypto-based debit cards that will allow users to make purchases using digital assets.
He’s convinced the company will push mainstream adoption closer towards reality. In an interview, he explains:
I believe bitcoin is the best way to empower people with control over their own value, and so my main criteria for investing in bitcoin companies is that they simplify the onboarding process for bitcoin rookies. The Fold Visa card creates a totally new way to participate in the bitcoin economy which doesn’t require people to change their spending behavior or even take any financial risks before they can start accumulating bitcoin.
Crypto and sports first began integrating with each other about six years ago. The Sacramento Kings were the first team to ever accept bitcoin as a method of payment for tickets and team-related merchandise. From there, other teams – such as the Dallas Mavericks, owned by billionaire Mark Cuban – have followed in their footsteps to accept crypto for ticket purchases.
But this goes well beyond just accepting bitcoin because it’s popular. Okung is convinced that crypto is going to revolutionize the finance industry in ways nobody is predicting and that it could give users more power than they ever thought possible. He explains:
Most people don’t have the time or energy to research all the possible implications of sound money, but you start offering them free money every time they shop at Amazon and Uber like Fold does? Now we’re talking… Bitcoin changes everything. As economic uncertainty continues to take its toll on our everyday lives, I believe we’ll see more and more people experience a shift in how they relate to money. Bitcoin offers us a practical solution to overcome the imminent demise of the legacy financial system.
It’s Going to Change Everything
One of the things he’s really excited about regarding Fold is that it provides bitcoin rewards, rather than airline miles or loyalty points. He describes this fact as a real gamechanger, and believes it’s going to get everyone curious, which will in turn lead to higher usage and stronger legitimacy for the entire space. He comments:
I believe finding more ways to earn bitcoin is just as important as getting more people interested in buying bitcoin.
The post Russell Okung: BTC Is the “Best Way” to Empower People appeared first on Live Bitcoin News.
Coinspeaker Meet rICO: German Regulators Approved Reversible ICOUnlike the regular pattern of Initial Coin Offerings (ICO), German regulators are begging to change the order by giving the green light to reversible ICO (rICO). rICO is regarded as an advancement to ICO structure with a more secure system that guarantees investors of their investment through blockchain.The ICO upgrade (rICO) was created by Fabian Vogelsteller, who also developed ERC-20, Ethereum standard. The new rICO allows investors to reserve tokens in the first phase of the offering and purchase them during the second phase.Also, with rICO, if an investor is no longer interested in supporting the project, the reserved token they have left can be refunded in its Ethereum corresponding value.Reversible ICO UnveilingLUKSO was to be the first project to get fundraising through reversible ICO set for next month. However, since it has been scheduled, Vogelsteller had to make public his conclusion with BaFin, Germany’s security regulator, similar to SEC. He asked BaFin if rICO was legal or not and got a response in January that its approval was not necessary. Which means Vogelsteller could go ahead.He believes that BaFin fancies the rICO because their main function is keeping people safe, which is the primary purpose of the rICO.rICO, unlike the traditional ICO, exists to protect investors further and get them involved in knowing how a project works. At the same time, rICO eliminates investors’ fear of missing out, giving the right faithful inducement to observe developers and how successful they are after several months.The entire rICO project was partly inspired by Vitalik Buterin‘s proposal for a DAO-like ICO that enables DAO partakers to vote on milestones and continued funding for a project.rICO addresses problems of low voting or participation experienced by DAOs. Investors in rICO only have their investment to bother about and are free to pull out at any point.BaFin’s Opinion about Novel rICOBaFin has been at the front line overtime for tokenized asset sales, and even beating US regulators by approving Germany’s first security token offering last year.“The interesting thing is that in the approval, they said that as long as we don’t get ownership on our side before the investors buy (tokens) over time, it’s fine,” Vogelsteller said.Vogelsteller believes that’s BaFin is impressed with the reversible ICO project so far.Owing to the nomenclature of Germany’s economy, as the biggest economy in Europe, it is not sure if other regulators would rICO for investors’ protection within smart contracts.Meet rICO: German Regulators Approved Reversible ICO
Coinspeaker Virgin Galactic Chairman Chamath Palihapitiya Raises $720 Million in IPO for a New CompanyVirgin Galactic Holdings Inc (NYSE: SPCE) chairman Chamath Palihapitiya, raised $720 million on Tuesday for a new company. He was able to get 20% more than the original target after the coronavirus crisis disrupted the event which was scheduled for March. The IPO was one of a kind, as only two others have happened so far in April according to IPO Boutique. Whereby they were biotechnology firms, a sector that is thriving with the ongoing coronavirus.How Virgin Galactic Chairman Chamath Palihapitiya Managed to Raise $720MThe company that Palihapitiya raised the capital for Social Capital Hedosophia Holdings Corp III IPOC_u.N. It is a special purpose acquisition company (SPAC), which will utilize the $720 million for buying a tech company outside the United States.Initially, Palihapitiya was anticipating to raise around $600 million, however, due to the increased demand from investors, he was compelled to increase and accommodate them.The whole hype with the company which saw investors flock is because such companies are flexible in their investments. Investors are constantly searching for places to put their money and get hefty returns in these times of coronavirus pandemic.Special purpose acquisition companies are more resilient to market volatility than most traditional stock markets. Investors only deposit their money while the management team constantly searches for a profitable investment.Palihapitiya has been involved in similar deals in the past whereby his first SPAC merged with Virgin Galactic in October to allow the company to go public and acquire $2.3 billion. All this was done without the company launching an IPO itself.On the Flip-sideVirgin Galactic shares are up 45% so far this year, despite the negative impact of the coronavirus pandemic. Since the company relies on people touring the space to make profits, and the social distancing is prevailing in most places, its operations are bound to be hit hard if the virus is not tamed soon.The fund raised by Palihapitiya showed the extent to which most investors out there are willing to go to make an extra dollar. This is due to the increased job loss and unemployment which is as a result of most businesses counting losses amid the ongoing coronavirus outbreak.According to Reuter, the IPO was priced at %10 per share, whereby the company sold 72 million shares. The debut price of the shares is the standard rate mostly in special purpose acquisition company listings.The shares are set to be listed on the New York Stock Exchange under the symbol (IPOC).Virgin Galactic Chairman Chamath Palihapitiya Raises $720 Million in IPO for a New Company
Coinspeaker Crypto Price Analysis April 22: BTC, ETH, LTC, EOS, BCHDmitriy Gurkovskiy, a senior analyst at foreign exchange broker RoboForex, provides his vision of the possible tendencies in price changes for Bitcoin as well as for other major cryptos.Cryptocurrencies continue to correct without any significant fluctuations in either direction. A lot of assets are stuck inside their respective “Triangle” patterns, thus indicating an extremely low volatility. If such a pattern is broken, it may force a strong movement in the direction of a breakout. In the daily charts, many assets may yet continue trading downwards. However, to confirm a potential downward movement, the assets must break the above-mentioned pattern on shorter timeframes. After that, one may expect the formation of proper patterns in favor of a new growth to break the highs.BitcoinIn the daily chart, BTCUSD is rebounding from another resistance level near $7,500. The RSI indicator is also moving very close to the descending trendline, thus indicating a potential rebound from the line after testing it. As a result, one shouldn’t exclude a possible growth and test of $8,000, which is not far from the descending channel’s upside border. After that, Bitcoin is expected to continue falling. The downside target may be at $5,700 and there are risks of seeing a test of the local low at $4,030. However, this scenario may no longer be valid if the pair breaks the channel’s border and fixes above $9,200. In this case, the asset may continue trading upwards and test $10,635.Photo: Roboforex / TradingViewAs we can see in the H4 chart, the price is stuck inside a “Triangle” pattern, thus indicating a low volatility. If the pair breaks the pattern’s upside border and fixes above $7,500, the instrument may continue growing to test $8,320 and then resume trading downwards. However, if the asset breaks the pattern’s downside border and fixes below $6,415, the market may continue falling with the target at $5,710 and then $4,975.Photo: Roboforex / TradingViewEthereumAs we can see in the daily chart, Ethereum is rebounding from the Ichimoku Kinko Cloud’s upside border. Bulls managed to get back inside the cloud, which indicates a sideways movement. If the pair breaks the upside border and fixes above $200, it may continue growing towards the descending channel’s upside border at $240. However, the RSI indicator is testing the descending resistance line and there are risks of seeing a further decline in the nearest future. To confirm this scenario, the instrument must break the cloud’s downside border and fix below $144. In this case, the asset may continue falling towards $98.Photo: Roboforex / TradingViewOn shorter timeframes, the price is growing inside the rising channel. As soon as ETHUSD falls lower than $167, it may start a new decline with the target at $118 or lower. However, before starting this decline, the pair may yet update its local high. The bearish scenario may be canceled if the asset grows and breaks $208. In this case, the instrument may continue growing to reach $240, which is not far from the descending channel’s upside border from the daily chart.Photo: Roboforex / TradingViewLitecoinAs we can see in the daily chart, LTCUSD has rebounded from the upside border of Bollinger Bands. In case the pair continues falling and breaks $35, one can expect further decline with the target in the area between $27 and $16. Another signal in favor of further growth will be a rebound from the resistance line at the RSI. However, this scenario may be no longer valid if the instrument breaks the descending channel’s upside border and fixes above $65. In this case, the asset may continue growing with the target at $81 and then $105.Photo: Roboforex / TradingViewIn the H4 chart, the asset is rebounding from Moving Averages, thus indicating the descending tendency. Moreover, it is forming a “Head & Shoulders” pattern. If the price breaks the support level and fixes below $36, it may complete the pattern at $27. A strong signal in favor of this idea is will be a rebound from the trendline at the RSI. However, the bearish scenario may be canceled if the instrument skyrockets and fixes above $47. In this case, the pair may cancel the pattern and continue growing with the target at $55.Photo: Roboforex / TradingViewEOSIn the daily chart, EOS is rebounding from a quick Moving Average for the second time, thus indicating a bearish pressure. One can expect an attempt to test the descending channel’s upside border and a new decline towards $1.66 and $1.22. A strong signal in favor of this idea will be a rebound from the resistance line at the RSI. At the same time, this scenario may be no longer valid if the instrument skyrockets and breaks $3.29. In this case, the asset is expected to continue growing with the target at $4.72.Photo: Roboforex / TradingViewOn shorter timeframes, the asset is stuck inside a “Triangle” pattern. If the pair breaks the pattern’s downside border and fixes below $2.28, it may start a new decline with the first target at $2.02. Another signal to confirm this scenario will be a rebound from the trendline at the RSI. However, this scenario may be canceled if the price breaks the pattern’s upside border and fixes above $2.85. In this case, the instrument may continue trading upwards to reach $3.29.Photo: Roboforex / TradingViewBitcoin CashAs we can see in the daily chart, Bitcoin Cash has rebounded from a quick Moving Average, thus indicating a bearish pressure. Moreover, there is a potential for the materialization of a “5-0” descending pattern. In most cases, after rebounding from the descending channel’s upside border, the pair falls towards the local low, which here is not far from $136 and $80. However, this scenario may be no longer be valid if the price skyrockets and fixes above $285. In this case, the instrument may continue growing with the predicted target at $450 and then $495.Photo: Roboforex / TradingViewIn the H4 chart, the pair is forming a “Head & Shoulders” reversal pattern with the target at $136. To confirm further decline, the price must break the support level and fix below $200. However, if the asset skyrockets and breaks $252, the pattern will be canceled and the instrument will continue growing with the first target at $285.Photo: Roboforex / TradingView Crypto Price Analysis April 22: BTC, ETH, LTC, EOS, BCH
It’s rare when a black hat hacker fixes the wrongs that he or she commits. It’s even rarer when they return the money they’ve stolen, but that appears to be the case this time around. Recently, Live Bitcoin News reported that roughly $25 million was stolen from Lendf.me, though now it appears that money has been returned.
Lendf.me Gets Its Money Back
Lendf.me is part of a larger organization called DForce. The company recently earned more than $1.5 million in seed funding led by Multicoin Capital. However, it wasn’t long before this money disappeared into thin air, and executives were left thinking this was money they would probably never see again. However, at the time of writing, the money appears to have been returned with an attached note reading, “Better luck next time.”
What does that mean, exactly? Are the hackers saying that for one reason or another they were unable to keep the money and thus had to make a return? Or are they saying that DForce needs to up the ante on its security protocols and this was part of an attempt to warn them? While these words may not be fully understood at press time, DForce is celebrating its potential gains over what could have been very huge losses.
It’s very rare that something this noble occurs. When a malicious actor in the crypto space seeks to steal funds, they usually keep them. Look at some of the biggest exchange thefts in history. Mt. Gox – which occurred in Japan in February of 2014 – saw more than $400 million in BTC vanish overnight. The event took place six years ago, and yet very little money has been refunded to customers.
Coincheck – the largest crypto theft in history – took place in January of 2018. More than half-a-billion in altcoin funds disappeared and none of that money has been returned to exchange executives. Nine times out of ten in the crypto space, when hackers take, they don’t give back.
Several different cryptocurrencies were taken from DForce, including about $10 million in Ethereum funds. Another $10 million in stable currencies were taken, while about $4 million in assorted, smaller altcoins also found themselves missing. Leaders of DForce say the hackers have reached out and are eager to talk.
Time to Negotiate
Mindao Yang – the founder of the company – explained in an interview:
The hackers have attempted to contact us, and we intend to enter into discussions with them. This attack not only harmed our users, our partners and my co-founders, but also me personally. My assets were stolen in this attack, too.
As it stands, while the money has indeed been returned, it has not been given back in original form. For example, the $10 million in ETH that was stolen has been given back, but in assorted altcoins instead.
The post Hackers Show Heart as Lendf.me Gets Its Stolen Crypto Back appeared first on Live Bitcoin News.