#CryptoCorner: BTC Denied $10K Over Weekend, Hut 8 (TSX: HUT) Finalizes Amendments to Bitfury Agreements, Shopify (NYSE: SHOP) Joins Libra (NasdaqGS: FB)

Point Roberts, WA and Delta, BC – February 24, 2019 (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 the cryptocurrency market.

Listen to today’s Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2020/022420-CryptoMarket.mp3

#CryptoCorner: BTC Denied $10K Over Weekend, Hut 8 (TSX: HUT) Finalizes Amendments to Bitfury Agreements, Shopify (NYSE: SHOP) Joins Libra (NasdaqGS: FB)

SHARE PODCAST:
 
 
 

Get the Crypto Corner Podcast on iTunes

Stocks discussed: (TSX:HUT) (NYSE:SHOP) (NasdaqGS:FB) (NYSE:JPM)

As we open another week, Bitcoin (BTC) is trading for $9,770, not too far off from the $9,670 we left it at last Friday’s Crypto Corner. Over the weekend, however, Bitcoin got as high as $9,950, according to data from CoinMarketCap, being denied the $10K support level. An analysis on CoinDesk by writer Omkar Godbole stresses the bullish significance of crossing $10K and the consequences of bear trends prevailing:

  • A sustained break above $10,028 would invalidate that pattern and revive the bullish view, opening the doors for resistance at $10,300 and $10,500.
  • On the downside, key average support at $9,508 is the target for the bears. A violation there would likely bring a deeper drop to $9,075 (Feb. 4 low).

Hut 8 Mining Corp. (TSX:HUT) has announced the finalization of amendments to key agreements with Bitfury Holding BV. Hut 8 paid debt and interest to Bitfury through a $5 million loan from Genesis Global Capital, LLC as part of the transaction. According to the press release:

The amendments to key agreements allow for increased autonomy for Hut 8 and a reduction of costs up to $2 million annually, while still maintaining Bitfury as a key strategic partner and shareholder.

E-commerce firm Shopify (NYSE:SHOP) has joined the Libra…

Source Link