Point Roberts, WA and Delta, BC – September 4, 2020 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.
Listen to today’s Crypto Corner Podcast:
Crypto Corner Episode 447: Bitcoin Tumbles After Meeting $12K Resistance, SBI Holdings (OTC: $SBHGF) to Launch Blockchain-Powered Securities Exchanges
Crypto Corner Episode 447: Bitcoin Tumbles After Meeting $12K Stocks discussed: (OTC:SBHGF)
Despite briefly poking its head above $12,000 earlier this week on Tuesday (Sept 1), Bitcoin (BTC) quickly retreated to a trading price of about $11,300 by Wednesday before tumbling dramatically yesterday to a low of about $10,180, according to data from CoinMarketCap. A report from Cointelegraph cites: increased selling pressure brought on by miners “sending higher-than-normal amounts of BTC to exchanges,” a rally in the USD, $12,000 acting as a strong resistance for BTC as key reasons for the drastic drop in trading price. On the connection with miner outflow, the piece quotes Ki Young-Ju, the CEO of CryptoQuant, who wrote:
“Miners send a certain amount of BTC to exchanges periodically, so they already have a large amount of BTC in the exchange. Whenever they decided to sell, it seems they move a relatively significant amount of BTCs to other wallets, and some of them are going to exchanges.”
Regarding the connection with the USD rally, the article points out the similarly steep decline witnessed in the price of gold concurrent with Bitcoin’s fall.
Japanese financial giant SBI Holdings, Inc. (OTC:SBHGF) plans to launch blockchain-powered digital securities exchanges, according to a report from Crypto News. The company’s President and CEO, Yoshitaka Kitao, said the exchanges will be located in two new “smart city” fintech hubs in Kobe and Osaka. Kitao also announced plans for “digital stock exchange based on blockchain (distributed ledger) technology” launched at the sites, with the aim of attracting fintech companies.
Brazilian outlet Correio Brazilienese reports that Brazil’s central bank is eyeing a CBDC (central bank digital currency) for 2022. Chief central banker Roberto Campos Neto said:
“To have a digital currency, you need an instant payment system that is efficient and interoperable; an open system, where you can create competition; and a currency that has credibility, is convertible and international. After that, I think you have all the ingredients to have a digital currency. We think we will have this in 2022.”
Campos Neto said digital currency was a consequence of the “process of digitization and modernization of the financial system,” and the central bank said that the issuance of a CBDC “may be a possibility to improve the current model of commercial transactions between people and even between countries.”
Sam Mowers, Investorideas
For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory
About Investorideas.com – News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea’s original branded content includes the following podcasts and columns: Crypto Corner, Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change, Exploring Mining the AI Eye.
The Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio and Google Play Music.
Visit the Podcast page at Investorideas.com:
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.
Copyright and ownership: Crypto Corner is an Investorideas.com content brand
Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Download our Mobile App for iPhone and Android