Month: January 2020

The Bitcoin (BTC) record is showing one indicator of extreme growth this year – the count of Unspent Transaction Outputs, or UTXO. This growth points to several potential explanations. UTXO Growth May Signal Coin Mixing Activity Each bitcoin transaction has the potential to generate UTXO, or “change”, which is then redistributed to a change address. Jameson Lopp showed that UTXO transactions are now happening more often, with a clear growth trend in 2019. Bitcoin's UTXO set rose from 49.6M to Read more …

The US Coast Guard has issued a security warning following a ransomware attack on a federally regulated maritime facility. The intrusion at the unnamed facility, caused a 30+ hour shutdown of primary operations while a response was conducted. Coast Guard Caught Phishing The Ryuk ransomware is believed to have gained access to the facility’s IT network when an employee opened a malicious link in a phishing email. It encrypted a significant number of critical files, and disrupted camera and physical-access Read more …

CoinMarketCap, one of the central crypto price listing websites, has been used as a vehicle to present newly arrived exchanges. Usually, those new markets show up with immense volumes, rising to the top while aiming to become industry names. LAToken’s Crypto Volumes Once Again in Spotlight LAToken, one of those exchanges, has caught attention for its specific brand of shady activity. The market operator looks undercapitalized while reporting disproportionately high volumes. CryptoTwitter is currently lambasting LAToken, for reporting volumes on Read more …

Bitcoin (BTC) easily succeeds over other cryptocurrencies in multiple key areas, which all but guarantee its future as the standard, noted academic Konrad S. Graf has concluded. In the second installment of a two-part interview with Eurasia Review published Jan. 1, Graf highlighted a plethora of “competitive advantages” inherent to Bitcoin.  Graf has sought to gain exposure for Bitcoin through academic essays, which expand beyond its mechanism of action to situate it within the broader economic system. Scarcity  Bitcoin wins Read more …

Over the holiday season, Bitcoin (BTC) has stalled in the low-$7,000s, finding itself stuck between a rock and a hard place. Although some say that this is indicative of an impending return to the $6,000s, then the $5,000s, a growing sentiment suggests the leading cryptocurrency could trade in the $8,000s and $9,000s in the coming 30 days. Related Reading: Why Bitcoin Network’s Record 2019 Is Bullish For the Crypto Market Bitcoin to Top $9,000 By End of January? Without fail, the first Read more …

KuMEX, the Bitcoin futures platform developed by KuCoin, today announced the launch of a Lite version, which not only focuses on core trading experience by simplifying the overall interface but also provides analytic tools such as a long-short ratio and revenue calculator to help newcomers to the crypto futures market better predict market trends and improve their investment strategies. KuMEX Lite introduces three major simplifications. The first is the market interface, which is simplified by switching from candlestick charts to Read more …

Price-wise, Ethereum hasn’t had the best of years. The second-largest cryptocurrency, according to an analysis by Bitcoin educator Jimmy Song, has lost 18% against the U.S. dollar year to date, which comes in stark contrast to Bitcoin’s approximately 85% gains in 2019. Related Reading: Why Prominent Crypto Analyst Believes XRP’s Trajectory is Positive While Ether’s performance has been harrowing at best, especially considering the fact that effectively all asset classes have seen near-record gains in the past 12 months, analysts are expecting Read more …

Bitcoin closed 2019’s final fiscal quarter in losses. The benchmark cryptocurrency is down by circa 21.5 percent on a quarter-to-date basis. The move downhill has extended its half-yearly losses to 33.35 percent. Bitcoin in a deep downtrend since July 2019 | Source: TradingView.com Nevertheless, exponential gains during the first two quarters have kept bitcoin inside positive territory. From January 1 until the time of this writing, the cryptocurrency has gone up by more than 95 percent. The long-term performance is Read more …

Bitcoin (BTC) traded broadly sideways on the first day of the 2020s as consensus swirled ever stronger around a Q1 breakout.  Cryptocurrency market daily overview. Source: Coin360 BTC in line for uninspiring January Data from Coin360 and Cointelegraph Markets showed Bitcoin making a decisively calm start to its third decade, with volatility staying away from markets into Wednesday. At press time, BTC/USD traded at just under $7,200, cementing a week in a narrow corridor between $7,090 and $7,495. Bitcoin 7-day Read more …

The China Foreign Exchange Trade System (CFETS) announced that effective January 1, 2020, the system “will adjust weights for CFETS RMB Index,” decreasing the weighting of the USD for the second time in the currency basket’s history from 22.40% to 21.59%, and increasing the Euro from 16.34% to 17.40%. The change could signal further disassociation with USD due to ongoing U.S./China trade difficulties. Also, reports of increased trade with the EU over 2019 and the fact that both China and Read more …

Bitcoin price is slowly declining and recently tested $7,100 against the US Dollar. The price is currently recovering, but likely to face hurdles near $7,280 and $7,320. There was a break above a major bearish trend line with resistance near $7,185 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might slide further towards $7,000 unless there is a break above the $7,320 resistance. Bitcoin price is struggling to hold key supports against the US Read more …

Ethereum is slowly moving lower towards the $125 support area against the US Dollar. The price is likely to extend losses as long as it is below the $132 resistance. There is a key declining channel forming with resistance near $131 on the hourly chart of ETH/USD (data feed via Kraken). ETH could decline in the near term before it starts a strong rally towards $150 and $175. Ethereum price is correcting lower versus the US Dollar, while bitcoin is Read more …