🗞 Daily Crypto News, May, 21st 💰

Bitcoin Price Drops 5% After Rejecting at Key $9,900 Resistance ;
50 BTC Just Moved for First Time Since 2009 – But It Doesn’t Look Like Satoshi ;
Steem Hard Fork Confiscates $6.3M, Community Immediately Takes It Back ;
Bitcoin Use on Darknet Markets Jumps 65% in First Quarter ;
👑 Why Bitcoin will be crowned the global reserve currency 👑 ;
🗞 Daily Crypto Calendar, May, 21st 💰

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

🗞 Bitcoin Price Drops 5% After Rejecting at Key $9,900 Resistance

Within the last hour Bitcoin (BTC) price abruptly dropped 4.9% from $9,800 to $9,324. The sharp correction came after the top ranked digital asset on CoinMarketCap failed to push through the $9,900-$10,000 resistance zone.

At the time of writing traders appear to be viewing the pullback as a dip buying opportunity, possibly due to the boost in bullish sentiment brought about by yesterday’s golden cross between the 50 and 200-day moving averages.

Interestingly, prior to the 5% correction, crypto-Twitter was abuzz with discussion over the transaction of 50 Bitcoin that hadn’t moved wallet addresses since 2009. Some traders speculated that the coins were possibly from Bitcoin creator Satoshi Nakamoto.

🗞 50 BTC Just Moved for First Time Since 2009 – But It Doesn’t Look Like Satoshi

The bitcoin market sold off more than 7% Wednesday, according to Bitstamp market data, after a Twitter bot alleged a recent bitcoin transaction came from a wallet possibly belonging to Satoshi Nakamoto, the protocol’s creator.

But almost nothing supports the rumor the coins indeed belong to Nakamoto.

“Whale Alert,” a popular Twitter bot account that tracks on-chain transactions for multiple blockchains, tweeted that 40 BTC were transferred from a “possible Satoshi owned wallet.” The price dipped as the tweet quickly went viral.

Commenting on the market’s reaction, Hunter Merghart, head of U.S. operations at Bitstamp, said sellers on the exchange “got good fast liquidity and buyers were there to fill it. Everything worked as designed.”

🗞 Steem Hard Fork Confiscates $6.3M, Community Immediately Takes It Back

The Steem blockchain has just split, or hard forked, controversially seizing the tokens of key community members who opposed TRON's recent acquisition of the ecosystem's biggest dapp, Steemit.

At 14:00 UTC on Tuesday, Steem implemented hard fork 0.23, significantly codenamed "New Steem," shunting some of the former Steem "witnesses" – blockchain validators – and stakeholders who created a splinter group called HIVE out of the ecosystem, it seems for good.

New Steem, which was only announced on Monday, will "seize some user accounts that participated in criminal activities by actively contributing to the threat against the Steem blockchain and/or to the theft of STEEM holders' assets," said a Steemit blog post, announcing the fork.

🗞 Bitcoin Use on Darknet Markets Jumps 65% in First Quarter

Bitcoin transactions on darknet markets jumped 65% in value during the first quarter, according to research by a blockchain analytics firm. The amount of bitcoin sent from darknet entities to mixers also grew rapidly as exchanges with verification requirements became less popular among darknet users.

Growing Bitcoin Use on Darknet Markets

Crystal Blockchain’s analytics team published on Tuesday an analysis of the use of bitcoin on darknet markets. The researchers analyzed darknet interactions with exchanges and “other entities” throughout Q1 2020. The data obtained were then compared to historical darknet activity from the past three years. Other entities include “payment processors, gambling services, illegal services, miners, marketplaces, online wallets, ransom extortioners, scams, stolen coins, and/or others,” the team clarified. Crystal Blockchain is a crypto analytics platform developed by the Bitfury Group.

🗞 👑 Why Bitcoin will be crowned the global reserve currency 👑

This blog will be the 1st part of a 3-blog story focusing on why as many other (very smart) people 😅, I believe Bitcoin is set to thrive in the coming months and years.

I will try to develop the economic theories and explain why Hedge Fund managers and economists now see some utility for Bitcoin in our current world.

If you read this, you are probably one of the early adopters of this massive transformation. Whether you realize the underlying forces at work is not the question, but you saw something different in this “Orange digital gold” a.k.a Bitcoin !

USD & EUR currencies dominate the world

In terms of value, the US dollar is ranked first, and its share of worldwide currency usage has grown from 47.6% in 2012 to 51.9% in 2014. The euro ranks second with a 30.5% share in 2014.

This means that Dollar & Euro represented 82.5% of worldwide currency usage in 2014.

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