Category: Cryptocurrency News

The Bitcoin price continues to suffer as the week progresses, losing another 2 percent in USD terms to trade below $3400 January 29. ‘D-Day’ For Bitcoin Price Trend? Bitcoin’s 3-day losses now surpass 7 percent as analysts describe what they see as a decisive trading period which will determine the broader trend for BTC/USD 00. “Today is D-Day for down-trend confirmation,” analytics website Woobull creator Willy Woo wrote on Twitter late Monday. Woo was monitoring accelerating Bitcoin trading volumes for Read more …

Since Bitcoin garnered traction in 2016/2016, the crypto & blockchain industry has been overtly lauded as a catalyst behind a “brain drain” on Wall Street, Main Street, and even Silicon Valley. Case in point, notable talents from the legacy industries’ most preeminent conglomerates, like Starbucks, Google, PayPal, amongst others, have flocked to this firms investing in this space, including Facebook. While copious amounts of time, capital, experience, and knowledge have been dedicated to the good word of cryptocurrency in recent months, Read more …

View Bitcoin is again closing on the 200-week moving average, which served as strong support in December. The weekly RSI is more bearish this time round, though, and is reporting undersold conditions. A weekly close below that level could be followed by a slide back to September 2017 lows near $2,970. A failure to push prices below the 200-week SMA support would weaken the bears. A bullish reversal, however, would be confirmed only above $3,658 – the high of gravestone Read more …

Featured 22 months since Wells Fargo suspended the processing of withdrawals sent by four Taiwanese banks that service Bitfinex, the platform remains among the top 20 exchanges by adjusted volume. While Bitfinex hosted more than $5 billion in trade this past month, the exchange has struggled to establish reliable banking partners, with traders seeking to deposit fiat currency having been instructed to send funds via at least seven different banking institutions since the Wells Fargo suspension. Also Read: Van Eck Associates Read more …

Two groups alone are responsible for a majority of hacks at cryptocurrency exchanges to date, new research suggests. Chainalysis, a blockchain analysis software provider, published a report on Monday indicating that two “prominent, professional” criminal groups are behind at least 60 percent of all publicly reported crypto exchange hacks, netting around $1 billion in total. “On average, the hacks we traced from the two prominent hacking groups stole $90 million per hack. The hackers typically move stolen funds through a Read more …

In the last 24 hours, the Bitcoin price has dropped from $3,505 to $3,322 by more than five percent against the U.S. dollar. The abrupt decline in the Bitcoin price led the valuation of the crypto market to plunge by over $10 billion in a three-day span. Major crypto assets such as Bitcoin Cash (BCH) and EOS (EOS) recorded large losses throughout the past week and was surpassed by Tether (USDT) in market valuation. Dropping Below $3,000 is a Possibility Read more …

French cryptocurrency hardware wallet manufacturer Ledger has released a dedicated mobile app for some of its products, the company confirmed in a blog post Jan. 28. Dubbed Ledger Live, the app previously available for desktop is now available for Android and iOS mobile devices, the company reports. According to the blog post, the app allows users of Ledger Nano X wallets to use their wallet without the need for a cable via their mobile device and a Bluetooth connection. The Read more …

The US Securities and Exchange Commission took a fairly harsh view on ICOs, judging almost all to be undeclared securities. But isn’t that response just reactionary, over-broad and perhaps even a little bit lazy? Canadian messaging company, Kik, are fighting back, and the industry as a whole should be glad that they are. The Promise Of Untold Wealth Initial Coin Offerings (or token sales) appeared on the cryptocurrency scene in 2013, with notable offerings from Ethereum (raising $16m) and Stellar ($39m) the following Read more …

Bob Summerwill, a former ethereum core developer, is taking over as executive director for the Ethereum Classic (ETC) Cooperative. Founded in April 2017, the ETC Cooperative is a non-profit organization created “to financially support the growth and development of the Ethereum Classic protocol,” as stated on the official website. Although having worked primarily in the ethereum community as a developer for the Ethereum Foundation and lead architect for ethereum venture studio Consensys, Summerwill is by no means bullish on any one Read more …

By many accounts Bitcoin is not out of the woods and has a lot further to fall before any glimmer of a recovery or trend reversal is to be seen. A number of indicators have been used to get as accurate a price prediction as possible but the overall trend line is usually the most reliable. Bitcoin Bears Will Lurk For Longer Yesterday’s $7 billion dump has strengthened the long term trend and its downward march will continue into 2019. Read more …

Blockchain analysis firm Chainalysis has disclosed that just two groups benefited from the majority of cryptocurrency hacks that have occurred to date. Per The Wall Street Journal, the two hacking groups could have obtained as much as $1 billion in cryptocurrencies. Since bitcoin came into being, over $1.7 billion worth of cryptocurrencies are estimated to have been stolen. According to Chainalysis’ chief economist, Philip Gradwell, the two hacking groups are most likely still active. While disclosing that tracking the funds Read more …

Banks in India are collaborating on a new blockchain platform to remove financing hurdles for micro, small and medium size businesses (MSMEs), local daily news outlet Economic Times reported Jan. 28. A total of eleven banks — including second-biggest lender Kotak Mahindra Bank, State Bank of India and ICICI Bank — are already meeting to discuss the implementation of a platform that will make it easier for businesses with smaller turnover to raise funds transparently. The move is being organized Read more …