December 16, 2019

Bitcoin Drops Below $7,000 as Market Struggles

Bitcoin broke below $7,000, dropping over 3% in the last 8 hours. The move proceeds a drop three weeks ago that had BTC touch $6,500⁠—does the market have more legs down? Bitcoin lost 3.4% of its value in 8 hours, dropping from $7,092 to $6,852 on Coinbase. The dip was accompanied by a substantial increase...
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Here’s What Burst Bitcoin’s $14,000 Yearly Top and May Lead it Even Lower

Bitcoin has faced turbulence throughout 2019, with the first half of the year being firmly controlled by bulls that sent it as high as $13,800, while the second half of the year played to the favor of BTC’s bears who were able to push it as low as $6,500.The downtrend that was first sparked this...
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Coincheck Will Remove Margin Trading Features in March 2020

Leveraged trading, or margin trading, has always been rather controversial in the cryptocurrency industry. Japan’s Coincheck exchange is ending this functionality in the next few months.  It is rather uncommon for cryptocurrency exchanges to end margin trading out of the blue. Coincheck Ends Margin Trading For most service providers, this is one of the primary...
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Ethereum Classic activates Kotti testnet as it nears Agharta hard fork

Ethereum Classic’s developers had previously revealed the roadmap for the much-awaited Agharta hard fork, which is touted to be the second half of the recently executed Atlantis hard fork. According to a recent development, ETC core developers and stakeholders participating in the ecosystem on 12 December have agreed on a target block number for mainnet...
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Two Reasons Why Ethereum Crashed 10% in a Matter of Minutes

The second most popular digital asset by market capitalisation led a crypto industry wide plunge in prices today. Ether (ETH), the native cryptocurrency on the Ethereum network, fell by around 10 percent in just a matter of minutes.The market wide dump follows a Chainalysis report referenced by Bloomberg earlier today. It claims that PlusToken, a...
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Mystery Surrounds DDoS Attacks That Have Downed the Darknet

If you’ve been struggling to access your favorite darknet market lately, you’re not alone. Ongoing DDoS attacks have rendered marketplaces, forums and other onion sites inaccessible for weeks. Speculation surrounds the attacks, with some blaming law enforcement and others attributing a DDoS war between rival markets. Also read: The Darknet Just Had One of Its...
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Blockstream’s upcoming c-lightning version to include multi-part payments

Blockstream recently revealed its plans to make multi-part payments interoperable on the Lightning Network, a development which essentially means that sending large Bitcoin transactions on top of the layer 2 network would be possible in the future. This development is instrumental in terms of the Bitcoin network which has been plagued with scalability woes for...
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Bitcoin Says Goodbye To $7K: Those Are The Next Possible Targets – BTC Price Analysis

After two weeks of consolidation steadily above the $7000, Bitcoin broke below. If you were following the recent price analysis posts here, you would not be surprised. Bitcoin was showing weakness, not being able to overcome the mid-term descending trend-line (shown both on the following 4-hour and 1-day charts). Aside from this, the long positions...
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Prominent Trader: Intense Bitcoin Bear Market Will Continue Unless This Happens

Bitcoin’s bulls have continued to hold Bitcoin’s price above its key near-term support level at $7,000 and defended this level from some heightened selling pressure yesterday that came about just prior to BTC’s weekly close.The ardent defense of this level comes about as Bitcoin shows signs of having a bearish market structure, and there are...
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Ethereum devs move ProgPoW into ‘Eligible for Inclusion’ list

A lot has been going on with the Ethereum network lately, with the Istanbul hard fork recently going live on the network and Muir Glacier expected to be rolled out by New Year’s Eve. Amid these updates, the Ethereum Core Developers in their 77th meeting discussed several other EIPs, along with Eligible for Inclusion [EFI]...
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Was Bitcoin Brought Down by a Chinese Ponzi Scheme?

The Chinese PlusToken scam may have influenced Bitcoin’s price, Chainalysis hypothesizes in a blog post. Though it’s unlikely to be the main factor, movements of stolen funds correlate very well with market downturns. What is PlusToken? PlusToken was a classic Ponzi scheme similar to BitConnect or countless others. The founders promised monthly returns from 9...
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Introducing Portfolios on Coinbase Pro

By Maggie Henry, product manager, Coinbase Pro. Customers can now trade out of multiple sub-accounts on Coinbase Pro. Portfolios allows traders to segregate trading strategies or operate multiple managed client accounts (if a fund of funds or asset manager). Volume-based pricing is calculated at the account level, so all your trading contributes to your 30-day...
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Obscure Cryptocurrency Mindol Pumps its Way Up Market Cap Rankings, But Why?

CoinMarketCap is suddenly showing a little-known cryptocurrency as the 17th largest by market capitalisation. Mindol (MIN) is an obscure project apparently aiming to promote Japanese “geek culture”.There has been little news reported that might account for the epic price gains the digital asset has seen over the last few weeks. This has caused market observers...
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This Cryptocurrency Could Boom Following Bitcoin’s Next Drop

Bitcoin has plunged by approximately 50 percent from its 2019 peak. And the cryptocurrency is hinting to continue trending downwards before the year’s close. The negative sentiment in its market, nevertheless, is benefiting rival cryptocurrencies.That is particularly true for XTZ, the native asset of Tezos, a proof-of-stake blockchain project whose market valuation has grown twofold across...
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$20K Day: A Look Back At Bitcoin’s Two-Year Rise and Fall

It was two years ago today, that Bitcoin price reached its all-time high value of $20,000, and just one year ago that it reached its current bear market low of $3,100.The post appeared first on NewsBTC
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Bitcoin Transactions on the Decline Since June This Year

The level of Bitcoin on-chain activity has declined since June, sliding just as market prices sank from their yearly peak. Transactions also saw a spike in October when BTC touched $10,000 again briefly. On-Chain Bitcoin Transactions Correlate with Exchange Price Action On-chain transactions for BTC often coincide with heightened trading interest. This led to slowing...
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Why Bitcoin Just Dropped Below $6900 in Abrupt Drop, Risking a Big Fall

Bitcoin (BTC) has just lost the key support of $7,000 after trading above this level for over a week. This marks the first bout of volatility the cryptocurrency market has seen in weeks and, as such, may imply that a larger move in the downward direction may take place in the coming days.Bitcoin Drops Below...
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Poles Hit With Backdated Tax on Crypto Trades

Crypto traders in Poland have been unpleasantly surprised with a controversial tax they thought they wouldn’t have to pay. The Civil Law Transactions Tax (PCC) is applicable to digital asset trades conducted before the introduction of last year’s moratorium on its collection, the Polish tax administration recently clarified. The matter has been discussed on European...
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Why Crypto Companies Must Go Bankrupt Before Next Bull Market Begins

When Bitcoin broke out from the $4,000 range and went on a parabolic run around mid-year, the crypto market breathed a collective sigh of relief as they said goodbye and good riddance to the bear market.The post appeared first on NewsBTC
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Blockstream planning Liquid update to reduce transaction fees

In a recent video, VP of Products at Blockstream, Allen Piscitello, spoke about stablecoins, the platforms they use, and how they compare to Blockstream’s own Liquid network. During the presentation, Piscitello spoke about how Tether exists on multiple blockchains, but represents the same asset in a bank account. He also spoke about the pre-requisites of...
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Kaspersky Confirms Ransomware Attacks on Municipal Institutions Increased by 60%

New findings by research firm Kaspersky paint a worrisome outlook. Dozens of municipal institutions have dealt with ransomware attacks throughout 2019. The rise of malware and ransomware attacks has been well documented in recent years.  The Ransomware Industry Keeps Growing One would expect institutions and corporations to smarten up after so many years. That is...
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IMF Cautiously Approves Central Bank Digital Currencies

The IMF has recently recommended to central banks worldwide to explore the introduction of Central Bank Digital Currencies, but to proceed with caution. CBDC Could Prove Useful to Central Banks In its most recent weekly blog post, the IMF has suggested that CBDC have a number of benefits. These include reducing the cost of managing...
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New Bitcoin.com CEO Lists HEX Scam Token ‘Just Out of Spite’

Newly appointed exchange CEO lists controversial scam token. The move stems from long-running tensions between rival factions within the cryptocurrency world – namely Bitcoin (BTC) and Bitcoin Cash (BCH) supporters. BCH supporters worry associating with HEX will come back to bite them. The CEO of Bitcoin.com decided to list the controversial HEX (HEX) token “just...
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Bitcoin UTXOs created found to have been slashed since June

After maintaining its position above $7000 over the past 2 weeks, Bitcoin briefly breached its support on 14 December. At press time, Bitcoin was above $7000 again, but the difference was very slim. Its valuation remained at $7068.67 as the market continued to consolidate under $7500. However, according to data released by glassnode, the community...
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Bitcoin Hedge Narrative Strengthens as Fed Plans More Fiat Injection

Bitcoin can still be a hedge against failing fiat. This is especially true in the face of the latest fiat injection plans put forward by the Fed.  FED to Inject Double Crypto Market Cap by Year-End The US central bank is ramping up is repo operation efforts with billions more planned to enter the financial...
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Crypto Traders Be Aware: Another Cryptocurrency SIM Swap Theft In The US

Another case of SIM swapping has reportedly been recorded in the U.S., as a 23-year-old has attempted to steal cryptocurrencies. This type of fraud appears to be growing as a significant issue worldwide, especially within the community with many previous similar cases. SIM Swapping To Steal Cryptocurrencies A young man from Pennsylvania has been implicated...
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Deribit exchange reports ‘unusual proportion’ of puts trading

Recently on Twitter, Bitcoin and ETH derivatives data analytics firm, Skew, reported an unusual proportion of puts trading on the Deribit exchange over the last two days. Generally, put options become more valuable as the price of the underlying asset depreciates in value relative to the strike price set on the contract. An increase in...
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Bank of Canada Governor Still Backs Cash Over Crypto

During the presentation, given to The Empire Club of Canada, Governor of the Bank of Canada, Stephen S. Poloz laid out some interesting reasons why he believes cash is better than crypto. Modernising Canada’s Ageing Payments Systems Poloz spoke about the role of technology in affecting how Canadians made payments. He suggested that the majority...
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Low volatility in BTC, ETH, and XRP could signal the next move

The top three cryptocurrencies by market cap, Bitcoin, Ethereun, and XRP, entered a stagnation phase that extended for the past 24 days. The low levels of volatility could be a signal that these cryptocurrencies are due for some price action. The following technical analysis will explore where BTC, ETH, and XRP could be heading next....
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Bitcoin (BTC) $ 63,026.89 3.19%
Ethereum (ETH) $ 3,050.32 2.53%
Tether (USDT) $ 0.999617 0.01%
BNB (BNB) $ 548.54 2.99%
Solana (SOL) $ 139.87 6.36%
USDC (USDC) $ 0.999297 0.08%
Lido Staked Ether (STETH) $ 3,051.29 2.76%
XRP (XRP) $ 0.499285 1.10%
Toncoin (TON) $ 6.48 7.55%
Dogecoin (DOGE) $ 0.150809 2.51%