Day: November 8, 2017

Having refused to succumb to bearish technical pressures yesterday, the world’s largest cryptocurrency moved back above $7,500 this morning.

After a few very difficult days, it seems the Bitcoin price is finally heading back to where it belongs at this point in time. Thanks to a solid 3.95% gain over the past 24 hours, the Bitcoin price has risen to almost $7,500 again. At this rate, it seems to be just a matter of time until the price surpasses $7,600 again. An interesting few hours are ahead, that much is rather evident.

Bitcoin Price Moves Up Again

It is always interesting to see how the Bitcoin price evolves over time. While many people would have expected the proverbial top to have been reached back when the Bitcoin price hit $5,000 a few months ago, things have certainly turned out very differently. That is a good thing, mind you, as no one likes to see the Bitcoin price go down whenever there is no reason for it whatsoever.

Over this past few days, we have seen multiple days of a standstill as far as the Bitcoin price was concerned. More specifically, after a very strong uptrend earlier in the week, the market started heading south when we lost the $7,500 level. At one point, the Bitcoin price was very close to dropping below $7,000 but that never effectively materialized. A positive sign, as there is no reason to think the Bitcoin price will go in the deep red before the SegWit2x hard fork occurs.

These past few hours have been rather interesting, to say the very least. With the value per Bitcoin surpassing $7,400 and then $7,480 in quick succession, the next run up is building. While it remains to be seen how fast things will go in this regard, it is not unlikely there will be a new all-time high Bitcoin price by the end of the day. Assuming that will effectively happen, the question becomes how high it can go.

With almost $2.6bn worth of trading volume, things are looking pretty solid for the Bitcoin price right now. If this volume keeps up or even manages to increase in any significant manner, reaching a Bitcoin price of $8,000 is not entirely impossible either. it is still far too early to make any accurate predictions in this regard, though. While many people predict Bitcoin will hit $8,000 before the year is over, today may not necessarily be the day on which it happens.

Bitfinex is still leading the list of exchanges ranked by trading volume. Their BTC/USD trading market generated $327.5m worth of volume over the past 24 hours. Bithumb and bitFlyer are still close together ins second and third place respectively. It will be pretty interesting to see how things evolve in this regard, as GDAX and Bitstamp are generating over $100m in trading volume as well. Only fiat currency pairs are welcome in the top five right now, and that is exactly what we are getting.

There is plenty of reason to be excited about the Bitcoin price right now. The year 2017 has been pretty spectacular already and there is no reason to think a major correction will occur before next week at the earliest. Even then, the SegWit2x hard fork may not disrupt things in a meaningful manner either. Only time will tell what lies ahead for the Bitcoin price, but for now, setting a new all-time high later today is extremely likely.

Tether is one of the most remarkable companies in the cryptocurrency space so far. Their business model revolves around issuing digital tokens pegged to fiat currency. Especially the USDT token is often used on cryptocurrency exchanges. Big was people’s surprise when the company introduced another 20 million USDT out of the blue. This move coincides with the Bitcoin price retracing over the past two days. It is not the first time we see these “coincidences” become apparent either.

There have been some questions regarding the behavior of Tether as of late. All of their digital tokens need to be backed up by the same amount of fiat currency. According to their latest financial report, things seem to add up. That was somewhat surprising, considering the company issued a few million new tokens in the same period. At that time, some people assumed it was done to prop up the Bitcoin price. Whether or not that is the truth or not, remains to be determined.

More Suspicious Behavior by Tether

Just last night, another 20 million USDT were brought into circulation. Once that happened, the Bitcoin price immediately recovered by $150. All of this seems to be somewhat “too convenient” to be a coincidence. Then again, if the financial statements add up, there is nothing to be concerned about. The bigger question is why these “cycles” seem to repeat itself during times at which the Bitcoin price is struggling. Right now, the price has recovered most of its losses sustained over the past 48 hours.

All of this makes Tether look pretty suspicious, to say the least. Moreover, Bitfinex isn’t entirely without blame in this regard either. Both companies seem to be working together quite well in an effort to pump the Bitcoin price. Creating artificial demand and trading volume isn’t an acceptable course of action, though. Sooner or later, things will effectively fall apart. Bitfinex will exit the US market very soon as well. There are far too many coincidences to think this is not coordinated in one way or another.

Rest assured a lot of people will keep a very close eye on Tether moving forward. There are a lot of concerns regarding their company and the rate at which they issue USDT these days. While it may be doubtful we will see another Gox affair, things aren’t looking that positive either. It will be interesting to see how all of this plays out in the coming weeks and months. New USDT in circulation always leads to a Bitcoin price push. It may be a coincidence if you believe in that kind of thing.

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New crypto trading platform begins to accept CNY. A new era of Bitcoin in China is coming?

Covesting, a fintech startup is creating a platform to bring copy-trading and professional asset management to the cryptocurrency world. Copy-trading has been wildly popular in traditional financial markets, but it has yet to be implemented in the crypto-industry. Professional and amateur cryptocurrency traders can create a “Model” where they allow other investors to “subscribe”. When investors subscribe to a Model, all the traders the Model Manager executes, are also performed in the account of the investor in real-time. The Covesting platform was built to monitor the performance of traders, allowing investors to evaluate the traders they subscribe to, and offers transparency and security to investors who are not comfortable trading cryptocurrency on their own.

Exact details and screenshots of the platform have been limited until this week. Covesting released screenshots and details of how their platform will work on their Medium blog, giving investors and the crypto community some insight ahead of the MVP release coming in late November.

A sneak peak at the Covesting platform’s dashboard gives unique insight on how the platforms main page where investors are able to track their historical performance, see the top coins they are invested in, view their transactions, as well as the latest feeds from Model Managers they are linked to.

The Pre-ICO has been live for just over two weeks, and has been wildly successful despite very limited marketing. Over 100% of their goal has already been raised as they approach the 50% of the Pre-ICOs hard cap milestone. The presale is limited to only 5,000 ETH and will run until November 19^th, or until the cap is reached. Over 1100 investors have taken the opportunity to participate in the Pre-ICO as many expect the MVP release prior to the public ICO to attract a lot of interest and drive prices higher.

Covesting CEO Dmitrij Pruglo: “The MVP development phase has gone well in line with our expectations. We are creating a really cool product for investors and traders. By continuously adding features, building a strong community, and aggregating data, Covesting is about to become a leading blockchain based peer-2-peer asset management and trading platform for cryptocurrency markets.”

A look at the Model Manager profile page allows us to see all the information that Covesting will present about each Model that is offered for subscription on the platform. A small profile about the trader, as well as detailed and filterable statistics on their past performance and current holdings is all displayed in a beautiful UI.

Interested in learning more about the platform or participating in the pre-ICO? Visit covesting.io where you can access the full white-paper, see the brilliant team, and learn more details about the project roadmap.

You can also find Covesting on social media:

Telegram: https://t.me/covesting
Facebook: https://www.facebook.com/covesting/
Twitter: https://twitter.com/covesting?lang=en
Medium: https://medium.com/@Covesting

The post Sneak Peek into the first peer-2-peer Asset Management Platform for crypto currencies– Covesting appeared first on NEWSBTC.

How interesting could be Blockchain for the Russian tourism industry?

While the crypto boom has taken the financial world by storm, with investors seeing gains they would never have realized in traditional markets; there is a lot of volatility that many do not seem to acknowledge until they experience the downside. Investing in the gold-rush mentality is what happened back in the dotcom bubble, and the same may happen in the crypto boom as well.

What if there was a low-risk, high-return investment option that capitalized on the crypto market as well as hedging against volatility by tapping into one of the most stable markets, i.e. real estate?

Caviar.io is a project that aims to do exactly that by creating data-driven, dual-purpose model that takes advantage of crypto-assets as well as U.S. real estate by the tokenization of assets. The reason why Caviar is in a solid position to make this a reality is because it is the successor to a company with a proven track record in real estate financing services and short-term loans – Caviar Capital LP.

With Caviar’s business model, investors get to hold diversified portfolios that leverage both cryptos (high-risk) and real estate (low-risk) for more balanced returns. Additionally, Caviar, given its track record and experience in real estate markets, is in the best position to manage such portfolios – moving investments from crypto-assets to real estate and back in order to manage risk and maximize profits.

The platform is further aided by Caviar’s Intelligent Predictive Model (IPM), which takes multiple data streams, analyses them and provides future predictions; allowing for better asset allocation.

In terms of real estate lending, Caviar will allocate some of the funds to be loaned out to entrepreneurs and real estate developers, especially the state of Connecticut, where Caviar already has an established presence and a network that can be leveraged.

Profits from the whole venture will be shared with Caviar token holders. Running on the Ethereum blockchain, Caviar is going to be an ERC20 token and profits will be distributed quarterly, using smart contracts.

The percentage of profit distribution is as under:

-75% goes to token holders
-20% is reinvested back into the fund
-5% is reserved for buying back tokens and burning them to increase value

The token sale aims to generate $25 million with 375,000,000 tokens, priced at 10 cents each. Presale begins on November 28, 2017, after which the crowdsale date will be announced.

Overall, Caviar aims to solve multiple problems in a market that is poised to attract capital but is not stable enough. By hedging investments between a very high-risk crypto market and a low-risk real estate market, the platform can deliver optimal returns without over-exposing investors.

The Caviar pre-sale begins on November 28, 2017. To contribute visit: caviar.io

Company name: Caviar
Official website : www.caviar.io
Whitepaper: English
Telegram : t.me/caviar0x
Twitter: @caviar0x
Reddit: Caviar0x

The post Caviar: Crypto & Real Estate In One Token appeared first on NEWSBTC.

The security lead for the Ethereum Foundation has said a hard fork will be required to free up funds frozen in a hack yesterday.

Expensive problems at Parity reemerge as the wallet provider says it is working to “confirm details.”