🗞 Daily Crypto News, May, 17th 💰

Bitcoin Price Consolidates Below $10,000 After Halving: What’s Next? ;
P2P Bitcoin Trade Volumes and Inflation in Latin America Are on the Rise ;
JK Rowling Asks About Bitcoin. Accursed Crypto Twitter Scares Her Off ;
Podcast: Where Bitcoin Fits in the New Monetary Order ;
Europe Heats Up Competition in Bitcoin Mining, Layer1 Plans Bold Move in US ;
🗞 Daily Crypto Calendar, May, 17th 💰
Bitcoin Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Bitcoin Price Consolidates Below $10,000 After Halving: What’s Next?

The halving is over, which means that the hype and FOMO around the halving are slowly fainting away. The price of Bitcoin (BTC), the top-ranked cryptocurrency by market capitalization, rallied towards $10,000 pre-halving, but also produced a 15% crash pre-halving.

While the majority expected a drop post-halving to occur, the price rallied from $8,400 to $10,000. What can be expected with the price of Bitcoin in the coming period?

Bitcoin price rallies to $10,000 to close the CME gap post-halving

The price of Bitcoin crashed by $2,000 to $8,100 pre-halving, which created a CME gap over the weekend. While the majority of the investors and traders anticipated a drop to occur post-halving, the opposite happened.

🗞 P2P Bitcoin Trade Volumes and Inflation in Latin America Are on the Rise

During the last two months since the March 12 crypto market rout, otherwise known as ‘Black Thursday,’ demand for cryptocurrencies seems to be on the rise in certain regions in Latin America. Various reports published this week have noted that countries like Colombia, Venezuela, Argentina, Chile, Brazil, and Mexico have seen significant bitcoin trade volumes. However, other reports show that even though the volumes are high in these specific countries, they are hard to measure due to inflation or hyperinflation.

Trade Volumes Spike in Countries Like Brazil, Mexico, Venezuela, and Argentina, But the Region’s Fiat Currencies Are Also Stricken by High Inflation

🗞 JK Rowling Asks About Bitcoin. Accursed Crypto Twitter Scares Her Off

JK Rowling probably wasn’t expecting to unleash the bitcoin community’s pent up passion and imagination when she tweeted two sentences asking about bitcoin.

But the author of the Harry Potter series did. Responding to a tweet from CoinDesk senior reporter Leigh Cuen, Rowling tweeted: “I don’t understand bitcoin. Please explain it to me.” In just two hours her tweet had spawned 1,300 replies.

It took less than three hours for her to follow up with, “I don’t think I trust this.”

<In response to a request from Rowling for Twitter to explain Bitcoin to her, Musk emphasized that “massive currency issuance by govt central banks is making Bitcoin Internet money look solid by comparison.” Musk added:

"I still only own 0.25 Bitcoin btw."

🗞 Podcast: Where Bitcoin Fits in the New Monetary Order

The third part of The Breakdown’s Money Reimagined series looks at the role of bitcoin and USD stablecoins in the new global monetary order.

One of the unique features of this moment is the experiments are not limited to the traditional actors. It is not just nation-states trying to elevate their currencies in the face of the global dominance of the dollar, but non-sovereign monies born of decentralized networks that are plausible contenders in this game of currency thrones.

Bitcoin was a byproduct of the last financial crisis. This connection was immortalized in the message embedded in the genesis block: “Jan 03/2009 Chancellor on the brink of a second bailout for banks.”

Link to the Podcast here

🗞 Europe Heats Up Competition in Bitcoin Mining, Layer1 Plans Bold Move in US

As China’s dominance in Bitcoin (BTC) mining has already decreased this year, Europeans are taking even more steps to become more attractive to crypto miners. At the same time, BTC miners in the US also have ambitious plans.

While Ukraine plans to offset the financial chaos of the coronavirus pandemic with nuclear-powered crypto mining, the most recent move has been made in Scandinavia.

Norway’s government has proposed to reintroduce an important incentive that directly impacts the profitability of mining operations in the country.

Asked if she expects to receive any criticism on the reintroduction of incentive this time around, Minister of Regional Development and Digitalisation Linda Hofstad Helleland told E24.no:

“It [the criticism] will probably come, and I am ready for that. In this case, there are multiple considerations that need to be balanced, and we have concluded that the most important thing is that we continue to facilitate the establishment of data centers in Norway.”

🗞 Daily Crypto News, May, 16th💰

*Transcodium (TNS)

"TNS burn event Phase 3 is scheduled to take off on 17th May, 2020, to burn 600,000 TNS to reduce the total supply."

Bitcoin Trading Update by @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

The last hours confirms the pattern Double Top which is a bearish pattern. It looks like we are having a little bounce now on the support line around 9350$ but till we don't break the previous high around 9800$, it doesn't invalidate the bearish pattern of the double Top.

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