Saudi Arabia Partners with Tech Giants in $14.9B AI Expansion
Saudi Arabia has pledged $14.9 billion toward AI investments through global tech collaborations with companies.
Data shows that a Bitcoin whale investor has just sold off after buying nearly 9,000 USD 22 months ago.
As reported by cryptocurrency trader Byzantine General, the whale stuck with the market through two major declines before selling Bitcoin around the $12,000 USD mark.
This whale is a legend.
See that big bubble around 6k in 2018?
That’s almost 9k BTC that was accumulated there.
He finally took profit, after 2 years and 2 major capitulation events. pic.twitter.com/JXhlAxmIlo— Byzantine General (@ByzGeneral) August 23, 2020
Bitcoin price, sentiment-driven and volatile in nature seem like it might be sitting at the precipice of either a major bull run or a dip. Several traders consider that this time is going to be remarkable for the cryptocurrency, given its recent break in trading resistances. This, coupled with the global pandemic and concern about the fiat economies, could point towards mass adoption.
As reported, the market sentiment in general is high at the moment, with traders and investors expecting a rally. While this is never a guarantee and analysis can be speculatory, the cryptocurrency market is often influenced by sentiment. Furthermore, financial experts and economic influencers such as Rich Dad, Poor Dad author Robert Kiyosaki encouraging investors to add Bitcoin to their portfolios is likely to have a positive impact on the token’s direction of value.
Not all traders are so positive, however. Michael van de Poppe, full-time trader at the Amsterdam Stock Exchange believes that Bitcoin risks dropping back down to levels around $10,000 USD if Bitcoin hits below $11,450 USD.
Pretty easy going here as there’s a rejection at $11,600.
If we hold the $11,450-11,500 area I think we’ll have a breakout towards $12,000 in the coming week.
Losing the green zone and I’m targeting $10,700 or even $10,000. pic.twitter.com/icCCUIZpwk
— Crypto Michaël (@CryptoMichNL) August 23, 2020
Saudi Arabia has pledged $14.9 billion toward AI investments through global tech collaborations with companies.
A Welsh landfill site in Newport, where a hard drive allegedly holding 8,000 Bitcoin is buried, is set to close.
The university’s endowment fund plans to adopt a BTC holding strategy for at least five years, emphasising its long-term growth potential.
Kraken co-founder Jesse Powell has filed a lawsuit for housing discrimination because of his connections to the cryptocurrency industry.