Hello and welcome to News BTC’s Market Outlook September 5. BTC/USD Bitcoin fell again on Monday, as the markets have learned that China has outlawed ICOs. This is a significant attempt by a government to step into the crypto currency arena, and that of course frightens a lot of traders. As you can see, the entire weekend was negative as we had reached to almost $5000, and have fallen to $4300. Because of this, now is not the time to get Read more …
According to a recent interview with the Deputy Prime Minister of Russia, Yury Trutnev, Russia’s central bank has approved the country’s first cryptocurrency exchange, called “Voskhod.” Russian Bureaucrat Claims the Central Bank Has Approved a Cryptocurrency Exchange Minister, Alexei Moiseev’s proposed bitcoin regulation, and the possibility of digital assets being listed on Moscow’s stock exchange. Now the country’s Deputy Prime Minister, Yury Trutnev claims the Russian Federation Central Bank has approved the first cryptocurrency trading platform for private investors. Read more …
Key Highlights ETH price fell hard and traded below the $300 handle against the US Dollar. There are two bearish trend lines forming with resistance near $320 on the hourly chart of ETH/USD (data feed via SimpleFX). The price might correct higher, but likely to face sellers near $300, $320 and $330. Ethereum price made a sharp downside move against the US Dollar and Bitcoin. ETH/USD is now bearish and looking to extend declines below $280. Ethereum Price Decline It Read more …
The stock price of chipmaker Nvidia and the value of Bitcoin continue to skyrocket almost in sync. These two technology disruptors, in their respective fields, are propelling amazing technological and economic changes. Their significance is being clearly reflected in the financial markets, as the values of both NVDA and BTC reach all-time highs. Also read: Another All Time High – Bitcoin Breaks Through 5,000 USD on Asian Exchanges Bitcoin and Nvidia’s Impressive Price Trajectories Nvidia products and Bitcoin seem to Read more …
After the long-awaited activation of the Bitcoin network’s upgrade SegWit many questions quickly arose about when and how bitcoin users would start to enjoy its benefits. Once wallets and users employ the new SegWit format, blocks can theoretically grow as large as four megabytes each. In practice, however, developers have stated that they’ll be more likely to see 1.7 to 2.1 megabytes blocks. 80 wallet developers, exchanges, pools, and other Bitcoin projects indicated that they were ready for Segwit prior Read more …
“The longest day.” That’s how James Gong, founder of ICOage, described Monday, the day on which seven China-based regulators took sweeping action against domestic initial coin offerings (ICOs), the nascent funding mechanism his startup was founded to enable. In a broad series of releases unrivaled so far globally, China’s regulators took aim at all aspects of the market, calling on exchanges cease the trading of ICO tokens and demanding that platforms issue refunds to select customers. At the request of regulators, ICOage Read more …
Key Points Bitcoin cash price declined sharply and broke a major support near $560 against the US Dollar. Yesterday’s highlighted a contracting triangle pattern with support at $580 on the hourly chart of BCH/USD (data feed from Kraken) was broken. The pair is now looking to settle below the $500 level, which would be a strong bearish sign. Bitcoin cash price tumbled along BTC against the US Dollar. BCH/USD is now attempting a break below a major support of $500. Read more …
OmiseGo has moved to stamp out rumors about the company possibly being impacted by China’s crackdown on ICOs. Through a Reddit post OmiseGo reassured everyone that China’s ban on ICOs will not necessarily harm the OMG network. On the post, OMG said China’s prohibition only refers to decentralized currencies, meaning it doesn’t necessarily affect the OMG network: “The OMG network is currency-agnostic and the open-source, white-label digital wallet framework we provide will allow financial service companies to select what services Read more …
Latin American social site Taringa, often called ‘Latin America’s Reddit’, has suffered a massive breach of user data. Login details for nearly all of the site’s users were compromised. The social site had instituted a system in 2015 to pay users for content production using Bitcoin. The site partnered with Xapo to create digital wallets for content producers, and then began funding them with Bitcoin for participation. Wallet balances of the individual users will likely be low, but the massive Read more …
Bitcoin appears to be moving into a new period of price discovery. Following a new ruling that finds China’s regulators moving to outlaw initial coin offerings (sales of new cryptographic tokens often exchanged for bitcoin), the bitcoin price fell to its lowest total since August 22 today. At press time, bitcoin had declined to just above $4,000 – halting at $4,037.50 across global exchanges – a 20% decline from its all-time high of $5,013 observed on September 1. Of the Read more …