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[NEWS BLOG]: How Close Are We to Hyperbitcoinization – Total Bitcoin Dominance?
Experts believe that bitcoin still has a long way to go before it gains mainstream global acceptance – but believe that the token could become a global mainstay, and even eclipse the dollar by 2030.
Industry insiders call the phenomenon “hyperbitcoinization” – the widespread, global adoption of Bitcoin that will see it eventually surpass conventional fiats like the dollar, the euro or the yen.
But what do experts mean when they talk about hyperbitcoinization – and can industry players do anything to help speed it up?
What is Hyperbitcoinization?
Hyperbitcoinization is not just a matter of bitcoin becoming more popular. It - read more.
OTHER RELATED NEWS
Ripple Price Signaling More Upsides
Recently, there was a steady increase in bitcoin and Ethereum, which helped ripple in recovering above the $0.2250 resistance. XRP price followed a decent bullish past and surpassed the $0.2300 resistance.
Moreover, there was a close above the $0.2320 resistance and the 100 hourly simple moving average. A new weekly high is formed near $0.2359 and the price is currently correcting lower.
It traded below the 23.6% Fib retracement level of the recent wave from the $0.2259 low to $0.2359 high. An immediate support is near the $0.2310 level.
Besides, there is a major bullish trend line forming with support near $0.2305 on - read more.
K-Pop Music Giant SM Entertainment Is Planning Its Own Cryptocurrency
SM Entertainment, one of Korea’s top-three pop talent agencies, is planning to build its own blockchain network with a native cryptocurrency as it battles a shareholder revolt and a falling stock price.
Joo Sang-sik, director of the company’s technology arm, CT-AI Labs, made the announcement at the Upbit Developer Conference in Incheon on Sept. 4, according to a report from local media outlet IT Chosun.
Joo said the company is aiming to develop a blockchain network that would allow fans to be more engaged with the entertainment ecosystem by investing in artists’ work through cryptocurrencies.
The director provided few specifics about - read more.
Bitcoin Is Looking at a Short-Term Bull Reversal if Prices Pass $7,400
- Bitcoin has created a hammer candle on the three-day chart, a warning of an impending bull reversal. However, a break above the candle's high of $7,380 is needed to confirm the short-term trend change.
- A move above $7,380 would activate twin bullish cues on the 4-hour chart and allow a rally to $8,000.
- Acceptance below Monday's low of $6,515 would imply a continuation of the sell-off from recent highs above $10,000.
Bitcoin needs to break above $7,380 to confirm a short-term bull reversal and invite stronger buying pressure, the three-day chart indicates.
Specifically, the top cryptocurrency by market - read more.