Key Points Bitcoin price declined further and broke the $3,295 and $3,200 supports against the US Dollar. There was a break below a major contracting triangle with support at $3,355 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price traded to a new weekly low at $3,150 and it is currently correcting losses. Bitcoin price declined below the $3,200 support recently against the US Dollar. BTC could continue to face a lot of selling interest Read more …
The government of Venezuela has reportedly started converting pensioners’ monthly payments from the country’s fiat currency, the bolivar, to its oil-backed cryptocurrency Petro, without giving them a choice. According to the Caracas Chronicles, a politics and economics-focused website based in Venezuela, the country’s pensioners are notified every time their monthly payments arrive, but this time received a second notification informing them the funds were “for the concept of Savings in Petro.” Per the website, pensioners have started depending on government Read more …
On December 14, following a fairly large sell-off from the $3,400 region, the Bitcoin price dropped to a new yearly low at $3,200. As Bitcoin (BTC) declined in value, other major cryptocurrencies including Ethereum (ETH), Stellar (XLM), and Bitcoin Cash (BCH) experienced large losses against the U.S. dollar, with BCH falling by more than 11 percent. Within a seven-day period, the Bitcoin Cash price` has fallen from $116 to $89 by more than 25 percent despite dropping nearly half of Read more …
Dovey Wan is a founding partner of Primitive Ventures, a global venture investment firm with a focus on blockchain. You can follow her on Twitter at @doveywan. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review. While emerging assets are always turbulent, 2018 has been an especially violent year for the crypto markets. Many investors who entered during the bull market of 2017 got badly burned during this year’s prolonged crash because they were deluded into believing that market Read more …
Key Highlights Ripple price seems to be struggling to clear the $0.3100 resistance area against the US dollar. There is a key bearish trend line formed with resistance at $0.3025 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could decline heavily if there is a break below the $0.2900 and $0.2880 supports. Ripple price is under pressure against the US Dollar and Bitcoin. XRP/USD failed to move past $0.3100 and now it could decline Read more …
Exchanges Monex Group, a major Japanese financial services company and the parent company of cryptocurrency exchange Coincheck, has unveiled its plan to launch a crypto exchange in the U.S. next quarter. The company has also shared its expansion plans for Coincheck in Japan. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations U.S. Expansion Tokyo Stock Exchange-listed Monex Group (8698.T) held a business strategy briefing session on Wednesday to outline its U.S. expansion plan through its subsidiary Tradestation. Read more …
Some blockchain token projects may be allowed to bypass U.S. securities registration requirements by obtaining so-called no-action letters from the Securities and Exchange Commission (SEC), an agency official said. Speaking at a gathering in New York Thursday evening hosted by the Wall Street Blockchain Alliance (WSBA), Valerie A. Szczepanik made it clear that such letters would be rare. Nevertheless, they are not unheard-of. “I think that’s a way forward for a lot of people who want to implement some of Read more …
Key Highlights ETH price failed to recover above the $90 resistance and declined recently against the US Dollar. There is a new connecting bearish trend line formed with resistance at $89 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to decline further below the $83 and $80 support levels in the near term. Ethereum price declined further below key supports against the US Dollar and bitcoin. ETH/USD could accelerate losses if there is a Read more …
Israeli hybrid blockchain platform Orbs has announced that it is entering an investment partnership with the venture arm of South Korean internet group Kakao. Created to serve as a pioneering public blockchain system offering unprecedented flexibility and utility, Orbs permits business dApp developers to deploy over a highly secure and liquid network that comes with production-ready scalability. Kakao, on its part, is an internet business giant that has made headlines for pushing to integrate crypto payment solutions across its range Read more …
Allianz CEO has called on global regulators to outlaw cryptocurrency, contradicting the company’s chief financial advisor, who said Bitcoin would be a good buy under $5,000 earlier this year. ‘You Should Outlaw It’ The Chief Executive of Europe’s biggest asset manager Allianz Global Investors Andreas Utermann expressed his thoughts on the regulation of digital assets, holding that global legislators should ban it completely, New York Times reports. He reasons that crypto-assets have wiped out people’s savings this year amid a year-long bear Read more …
Nvidia’s share price has fallen 48 percent since October. Now, rumors have surfaced that SoftBank plans to sell its 4.9 percent share in the leading graphics chip maker. Bloomberg reporting has cited anonymous sources who allege that SoftBank, which through its Vision Fund acquired around $3 billion in Nvidia shares in 2017, could sell all or part of its stake early next year. Japan’s SoftBank bought its stake in the American technology company in May 2017, and it later transferred Read more …
News The Gitcash project has re-launched this week after taking a brief hiatus following the Bitcoin Cash hard fork. After returning, the Github tipping application has released a new splitting application for pre-fork bitcoin cash and this past ‘Tipping Tuesday’ the Gitcash crew “made it rain” BCH on unsuspecting Github projects. Also Read: Digital Currency Platform Revolut Receives European Banking License Gitcash Returns to the BCH Community With a Splitting Tool In June, news.Bitcoin.com reported on the Gitcash.io platform, an application Read more …