Month: October 2019

Ethereum (ETH) has been closely tracking Bitcoin’s price action over the past several days and weeks and was able to incur some bullish momentum this past Tuesday separate from Bitcoin, although this movement was short-lived and was closely followed by a retrace back towards its current price levels. Analysts are now nothing that Ethereum may currently be positioned for a noteworthy bullish movement in the near-term, as it is currently trading just above a region with massive support. Ethereum Finds Read more …

Thursday Oct. 31 — Cryptocurrency markets are largely trading sideways with most changes among the top-20 coins not exceeding 1% on the day. Cryptocurrency market daily overview. Source: Coin360 Bitcoin (BTC) has been trading sideways for the better part of the day and continues to circle around the $9,100 price mark. The coin bounced off a local low of $8,960 earlier today before moving to its current trading price at $9,149, showing a small loss of 0.74% on the day. BTC Read more …

Major crypto exchange Binance may be returning to China, with a planned office to open in Beijing, sources say. Binance in exile Binance, which left China in September 2017 in response to the country’s ban on crypto trading, is looking to open a new office in Beijing to accompany one operating in Shanghai, two unnamed sources told Coindesk, Oct. 31.  As of press time, sources at Binance had not confirmed to Cointelegraph plans to establish a new Beijing office, but Read more …

A group of “very powerful nations” is increasingly making moves to reduce their dependence on the US dollar according to a global security analyst. Traditionally a planetary store of value, will Bitcoin benefit from such a global exodus from the dollar? Anne Korin of the Institute for the Analysis of Global Security identifies strong motives inspiring China, Russia, and Europe to ditch the dollar as the asset favoured for global trade. She describes the situation as “unsustainable”. Could Nations Turning Read more …

Bitcoin might become “digital gold,” but first it needs to be used more in everyday business, Intercontinental Exchange’s chief executive said. During a quarterly earnings call Thursday, ICE head Jeffrey Sprecher said that he sees use in transactions as the prerequisite to bitcoin becoming a long-term store of value. The company’s Bakkt subsidiary, which runs a bitcoin futures market, announced this week that it is developing an app for consumers to buy goods from merchants, beginning with Starbucks. A number of Read more …

In the next few hours, Bitcoin will see its monthly candle for October close. As the cryptocurrency has been subject to immense volatility over recent weeks, this close will be immensely important for Bitcoin’s directionality for the next few months. Related Reading: Bitcoin Holds Above $9,000 as Buyers Look to Extend Its Upwards Momentum So, with BTC seemingly poised to close October around $9,300, what are analysts saying? Bitcoin Looking Relatively Strong Stackin’ Bits posted the chart below recently, with Read more …

Victims of the Mt. Gox hack will have to keep on waiting for the next step in their long journey toward reimbursement.  Nobuaki Kobayashi, trustee for the defunct cryptocurrency exchange, announced that the deadline to form a concrete plan to compensate defrauded customers has been extended to March 31, 2020. The Tokyo District Court has agreed to his request just as the previous deadline of October 28, 2019, was about to expire. The announcement states that a large number of Read more …

According to new data from marketing analysis firm SEMRush, Bitcoin (BTC) is the third-most preferred online payment method in Italy. Bitcoin comes in third place On Oct. 31, the Italian news outlet La Stampa reported that the Boston-based marketing analysis company, it was stated that in the list of the most used methods of online payment systems in Italy, Bitcoin comes in a strong, third place, just behind PayPal and the Italian reloadable prepaid card service PostePay. The data further Read more …

Malta-based cryptocurrency exchange Binance is opening an office in Beijing, two sources with knowledge of the matter told CoinDesk. The new outpost will join Binance’s current mainland China office in Shanghai. It’s not clear what exactly the office will do or when it will open, but the move follows a slew of announcements from Chinese authorities, including President Xi Jinping outlining China’s new blockchain ambitions. Relations between Binance leadership and Chinese authorities appear to have warmed recently, with the exchange publishing a Read more …

After hovering just above $9,250 for an extended period of time, Bitcoin (BTC) has now been able to climb slightly, signaling that buyers did not want to lose this level to sellers, who had been building significant strength over the past couple of days. Analysts are now noting that the cryptocurrency may be positioned for further continuation as it nears a newly established support level that could bolster its price action in the near-term. Bitcoin Bounces from Daily Lows as Read more …

The Bitcoin white paper was published 11 years ago today, on Oct. 31, 2008, meaning that Bitcoin (BTC) is celebrating its 11th year of existence. From its humble beginnings to over a $300 billion market capitalization in 2017, the success of Bitcoin is truly a remarkable accomplishment.  What is Bitcoin? A question with many answers. Digital gold, magic internet money, a hedge against macro risk, tulip mania? One thing is for certain, Bitcoin found a product–market fit as a new Read more …

A study by Bitcoin mining firm Genesis Mining has shown that a startling number of US citizens have no idea about how their financial system works. A whopping 29 percent of respondents said they thought the US dollar is still backed entirely by gold. The study’s findings highlight just how little is really known by the general public about the nature of modern banking. If education about finance proliferates, the value of Bitcoin as these hardest form of money in Read more …