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Emerging market currencies have plunged this week, Local Bitcoins transactions have hit an all-time high in Argentina and there is some evidence of premium being paid in India for USD Tether.
Emerging market currencies have plunged this week, Local Bitcoins transactions have hit an all-time high in Argentina and there is some evidence of premium being paid in India for USD Tether.
Ethereum World News (blog)Andreas Antonopoulos: A Bitcoin ETF is a “Terrible Idea”Ethereum World News (blog)Andreas M. Antonopoulos, one of the most respected and active personalities within the Bitcoin ecosystem, shared his impressions this week regar…
Ethereum World News (blog) |
Andreas Antonopoulos: A Bitcoin ETF is a “Terrible Idea”
Ethereum World News (blog) Andreas M. Antonopoulos, one of the most respected and active personalities within the Bitcoin ecosystem, shared his impressions this week regarding the consequences that an approval of a Bitcoin ETF could have for the crypto ecosystem. In his popular … Will the First Bitcoin ETF Make the Crypto Market Even More Volatile? Bitcoin History: Timeline, Origins and Founder Bets Against Bitcoin Grow Since Start of August |
Apart from IOTA which on paper seems to be outperforming peers adding 15 percent in the last days, other coins as Tron, Litecoin and Stellar Lumens are up roughly two percent on average. Of all coins though, Stellar Lumens (XLM) is the most stable as they consolidate horizontally along our previous buy trigger line at…
The post Litecoin, Stellar Lumens, Tron, IOTA, EOS Technical Analysis: At 90% From ATHs, Altcoins are almost “Free” appeared first on NewsBTC.
Apart from IOTA which on paper seems to be outperforming peers adding 15 percent in the last days, other coins as Tron, Litecoin and Stellar Lumens are up roughly two percent on average. Of all coins though, Stellar Lumens (XLM) is the most stable as they consolidate horizontally along our previous buy trigger line at 22 cents. On the other hand, Litecoin, EOS and Tron prices are still oscillating inside Aug 17 high lows but are likely to follow through and retest immediate resistance lines at $70, $7 and 2.5 cents respectively.
Let’s have a look at these charts:
The withdrawal of EOS, ADD and IQ have resumed. We apologise for any inconvenience caused.#HuobiGlobal $EOS $ADD $IQ @EOS_io https://t.co/zY8qRMBof4
— Huobi Global (@HuobiGlobal) August 19, 2018
Two days after the conclusion of that three-bar reversal pattern we mentioned in our last EOS trade plan, upsides are unexpectedly limited.
Notice that EOS prices are still consolidating inside Aug 17 bullish engulfing high low but are likely to edge higher this week providing opportunities for short traders to load up positions at $7, our immediate resistance line and previous break out level.
Remember, despite these higher highs, bears are overwhelmingly in charge considering the last two or three months trend.
Even after a three percent addition in the last 24 hours, it’s safe to say that Litecoin is ending the week on a high but still sellers dominate proceedings. At current spot prices, LTC is trading inside Aug 17 high lows providing a perfect opportunity for long traders to add on to their positions with stops at $50 or Aug 14 lows.
In my view, I recommend aggressive traders to take small position longs with stops as suggested while conservatives and risk on traders can wait for rejection of higher highs anywhere between $65 and $70 on the upside. In line with our previous LTC trade plan, sellers are in charge and since price action is trading inside a bear break out pattern set in motion by June 10 bear candlestick and confirmed by Aug 7 break below main support at $70, any form of price resurgence will be treated as retest.
As such, should there be rejection at our immediate resistance line with a bear engulfing pattern printing, then sellers would better sync with price by placing shorts with stops at $70 and first targets below $50.
Though Stellar Lumens is up two percent in the last 24 hours ending the week on the highs, price is still moving horizontally in a consolidation along 22 cents. With this movement, our previous XLM trade position holds true and we shall retain a neutral overview until our trade conditions are met.
This means once prices are above 26 cents, recommend taking longs on dips while any dip below 18 cents-20 cents support line means sellers should sync with trade and initiate trades on pull backs with first targets at 8 cents.
Like most coins under our review, the trend is overwhelmingly bearish but even in the midst of these bears, there were buy attempts towards the end of last week.
At the moment though, buyers are finding resistance and as common with such revivals, we expect higher highs towards our first resistance level at 2.5 cents.
However, should sellers overcome these buyers and push prices below Aug 14 pin bar lows at 1.5 cents, this short-term pull-backs and buy attempts would be null.
Accordingly, we shall recommend selling at the close of that break out candlestick and maintain targets of our last Tron trade plan.
Statistics indicate that IOTA is up 15 percent in the last 24 hours at the time of press. However, another glance in the chart and it’s easy to see that price movements are limited to say the least.
Not only are IOTA prices moving inside Aug 17 bullish candlestick high lows but yesterday’s bulls did fail to clear recent highs at 60 cents. In any case, our position is bearish and for buyers to cement their intention then we must see high volume gains above 70 cents.
If not and sellers continue to clip bullish momentum reversing the last four-five days gains then we shall sync with the main trend and sell after the asserting candlestick with first targets at 30 cents.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
The post Litecoin, Stellar Lumens, Tron, IOTA, EOS Technical Analysis: At 90% From ATHs, Altcoins are almost “Free” appeared first on NewsBTC.
The Bitcoin Tracker One Exchange Traded Note (ETN) has become the first fully regulated financial instrument tied to actual bitcoins that are available for purchase by traders and investors in the United States. It is listed under the ticker symbol CXBTF on NASDAQ Sweden, but is available via OTC Markets to United States investors. Now …
The post Fidelity Offering Bitcoin ETN to Clients appeared first on BitcoinNews.com.
The Bitcoin Tracker One Exchange Traded Note (ETN) has become the first fully regulated financial instrument tied to actual bitcoins that are available for purchase by traders and investors in the United States. It is listed under the ticker symbol CXBTF on NASDAQ Sweden, but is available via OTC Markets to United States investors. Now Fidelity, one of the biggest stock trading firms with USD 2.4 billion of assets, is offering easy CXBTF access to their customers.
This is major news, since Bitcoin has a market cap of USD 110 billion and the overall cryptocurrency market cap is USD 215 billion. Now Bitcoin has direct exposure to investors who own and trade orders of much higher magnitude i.e. 1000% more, than the current amount of money invested in the Bitcoin market. Buying Bitcoin via CXBTF is just as easy, safe, and regulated as buying any other stock on the Fidelity platform. Eventually, due to customer demand CXBTF will likely be available on every major stock trading platform in the United States.
This is the news the entire crypto market had been waiting for since this is a way institutional investors can buy Bitcoin via the stock trading platforms they are used to. The crypto space had been hoping for a Bitcoin Exchange Traded Fund (ETF), and when the Winklevoss Bitcoin Trust ETF and the VanEck SolidX Bitcoin ETF were rejected and stalled respectively it caused the global price of Bitcoin to decline. This Bitcoin ETN is essentially just as good as an ETF, since it provides a way for institutional investors to diversify into Bitcoin on the same channels they use to trade stocks.
Bitcoin is an excellent way to diversify a portfolio, since it is an extremely unique asset class that has been showing strong long-term growth, and it is inevitable that institutional investors will invest a small fraction of their portfolio into Bitcoin in the future.
Currently, XBT Provider, a CoinShares company, is holding USD 334 million of Bitcoin for Bitcoin Tracker One and Bitcoin Tracker Euro, and USD 109 million of Ethereum for Ether Tracker One and Ether Tracker Euro. This is not an insignificant amount relative to the total Bitcoin and crypto market caps, and now that it’s available in the United States these numbers should surge.
One very important thing to note is that XBT Provider backs the Bitcoin Tracker One ETN with actual bitcoins, so as investors buy CXBTF, XBT Provider buys actual bitcoins. Therefore, CXBTF has a direct impact on spot markets and therefore the global Bitcoin price. This is much better than the Bitcoin futures in Chicago on CME and CBOE, which are backed by cash and don’t directly influence global Bitcoin price.
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Chinese artist and activist Ai Weiwei has joined with artist Kevin Abosch who is continuing his ongoing relationship with cryptocurrency through artistic project labeled “priceless”. Abosch, is an Irish conceptual artist and photographer based in New York City. His last project explored cryptocurrency in a unique way. Apart from owning the most valuable piece of …
The post New Ethereum-Based Tokens for Artistic Expression of Value appeared first on BitcoinNews.com.
Chinese artist and activist Ai Weiwei has joined with artist Kevin Abosch who is continuing his ongoing relationship with cryptocurrency through artistic project labeled “priceless”.
Abosch, is an Irish conceptual artist and photographer based in New York City. His last project explored cryptocurrency in a unique way. Apart from owning the most valuable piece of art ever stored on a blockchain, earlier this year he created 10 million IAMA Coin tokens using the Ethereum ERC-20 protocol and drew six vials of blood from his own body and used it to stamp 100 blockchain addresses where the IAMA Coins reside, onto 100 separate pieces of paper.
Other projects involving crypto are fast making him the go-to artist for crypto enthusiasts.
Ai Weiwei, artist and highly critical defender of human rights in China and son of Chinese poet Ai Qing, is also interested in blockchain, and with Abosch’s knowledge of the industry, is collaborating on the new project.
Together the two artists have created two tokens in an attempt to show to the world how value is perceived by society. One token is highly unattainable and the other is available to all, in the sense that anyone is able to own a fraction of it. As Ali explained:
“It’s not about a potential for creating art, but, rather, to question the existing system and the potential to create a new system outside of the established one,”
Abosch commented:
“From the moment we’re born, people try to ascribe value to us — ‘Oh, that boy is so full of potential, or oh, that girl is worthless’ — it’s something society does to us and it’s something we do to ourselves … Our project is just another thing to engage people in the hope that they will spend a little bit more time reflecting on the perversity of how most of us ascribe value to things.”
The wallet addresses containing PRCLS tokens are printed and then sold to buyers. Each address represents “priceless moments” shared between the two artists, intended to demonstrate how a token can represent value, such as human life and human interaction. Cryptocurrency critics have long contested that tokens have no actual value.
Ali says that blockchain is an opportunity for change, bringing down an old system in order to “at least offer a new possibility for communication.”
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CCNWill the First Bitcoin ETF Make the Crypto Market Even More Volatile?CCNAntonopoulos said that while ETFs have the ability to open the Bitcoin market to a group of institutional investors and retail traders that have not been able to trade the domin…
CCN | Will the First Bitcoin ETF Make the Crypto Market Even More Volatile? CCN Antonopoulos said that while ETFs have the ability to open the Bitcoin market to a group of institutional investors and retail traders that have not been able to trade the dominant cryptocurrencies due to issues pertaining to regulation, they also ... Andreas Antonopoulos: A Bitcoin ETF is a “Terrible Idea” Bitcoin History: Timeline, Origins and Founder Bets Against Bitcoin Grow Since Start of August |
Bitcoin News (press release)Three Hackers Held in China Over $87 million Crypto TheftBitcoin News (press release)Three suspects have been detained by Chinese police in connection with an alleged cryptocurrency theft. The supposed hackers stole bitcoin …
Bitcoin News (press release) | Three Hackers Held in China Over $87 million Crypto Theft Bitcoin News (press release) Three suspects have been detained by Chinese police in connection with an alleged cryptocurrency theft. The supposed hackers stole bitcoin and other digital assets worth an estimated $87 million USD. Authorities say this is the biggest heist of this ... |
Three suspects have been detained by Chinese police in connection with an alleged cryptocurrency theft. The supposed hackers stole bitcoin and other digital assets worth an estimated $87 million USD. Authorities say this is the biggest heist of this type in the People’s Republic so far. Also read: South African Tax Authority Going After Crypto […]
The post Three Hackers Held in China Over $87 million Crypto Theft appeared first on Bitcoin News.
Three suspects have been detained by Chinese police in connection with an alleged cryptocurrency theft. The supposed hackers stole bitcoin and other digital assets worth an estimated $87 million USD. Authorities say this is the biggest heist of this type in the People’s Republic so far.
Also read: South African Tax Authority Going After Crypto Traders
Police in China have arrested three men suspected of stealing approximately 600 million yuan (over $87 million USD) worth of cryptocurrency through hacking. The presumed criminals targeted personal and corporate computers, local media reported.
The case has been described by law enforcement officials in Xian, capital of the northern Shaanxi province, as the “highest value cryptocurrency criminal investigation” in the country to date. An officer quoted by the South China Morning Post, commented:
Our bureau has not dealt with this kind of case before. It’s the first virtual currency-related case in Shaanxi.
The investigation was initiated in March, this year when one of the victims, a resident of Xian, notified local police that his computer had been hacked. He complained that the unknown attackers had appropriated 100 million yuan (almost $15 million) in bitcoin core (BTC) and ethereum (ETH).
According to investigators, the men had been employed by leading internet companies and had extensive tech background. No details about the firms were revealed, however. After taking hold of the virtual funds, they sold the coins by splitting the digital cash into small amounts and conducting multiple transactions in order to cover their tracks.
Police analyzed enormous amount of collected data with the help of experts from the IT sector before identifying the first suspect, a resident of the central Hunan province named Zhou. Two months later they were able to find the other two supposed accomplices – Cui, a man from Beijing, and Zhang from Jilin province.
Security services put the men under around-the-clock surveillance before detaining them in coordinated raids this past Wednesday. Chinese authorities and media note that the investigation is still ongoing.
The popularity of cryptocurrencies in the People’s Republic has led to a significant increase in both crimes and disputes related to digital assets. According to a recent report, Chinese courts are overwhelmed by a growing number of such cases. With unclear regulations and an ambiguous ban on ICOs and cryptocurrency trading, Chinese judges find it hard to resolve many of them.
Do you think Chinese police have the capacity to investigate crypto-related crimes? Share your opinions on the subject in the comments section below.
Images courtesy of Shutterstock.
At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.
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At press time, bitcoin is trading for just over $6,400. This is about $50 higher than where it stood yesterday. It’s easy to jump into the fray and assume that maybe, just maybe the market is improving once again, but we’ve seen this too many times to enter this conclusion so suddenly. Sadly, bitcoin – […]
At press time, bitcoin is trading for just over $6,400. This is about $50 higher than where it stood yesterday.
It’s easy to jump into the fray and assume that maybe, just maybe the market is improving once again, but we’ve seen this too many times to enter this conclusion so suddenly. Sadly, bitcoin – like all cryptocurrencies – is volatile; it moves up, it moves down, and before you know it, everything is a mess. We think it’s ascending, and right when we assume things are about to reach a new level or strike new rungs on the financial ladder, the currency falls again. Confusing? Yes. Annoying? Definitely…
So, before we automatically assume that this $50 addition to bitcoin’s price is anything special or indicative of new market trends, we need to examine bitcoin carefully and realize that volatility – as always – is a consistent problem in the bitcoin and cryptocurrency spaces. One that isn’t likely to disappear anytime soon. Cryptocurrency needs to garner a little more legitimacy and maturity if it’s going to see volatility vanish once and for all.
One source mentions that there is some good news ahead. For now, bitcoin is staying above the $6,400 line, while the main support point of $6,000 is remaining sturdy. The positive thing is that bitcoin isn’t likely to slink back to this region for some time, so perhaps a few upswings are set to occur soon.
Still though, we must remain cautious, especially considering there isn’t a huge abundance of bitcoin left. In fact, most of the currency that has yet to be mined is “already spoken for.” According to the CEO of UK-based cryptocurrency investment firm CoinShares Ryan Radloff, a series of surveys conducted in the US, Australia and Europe suggest that many residents have not only heard of cryptocurrency but intend to own it in the future.
Taking all the figures into account, the number of people who “intend” to own crypto comes out to approximately 99 million people, and even if they only purchase a small sum of newly-mined cryptocurrency, this would result in approximately 1.9 million bitcoins alone being extracted and purchased upon release.
“These demand numbers indicate that almost half of the remaining non-minted bitcoin supply is ‘spoken for,’” Radloff writes in a Medium post.
In addition, he suggests that bitcoin and most major forms of crypto are so developed now that their growth and expansion is harder to see. Bitcoin, for example, isn’t necessarily growing in price, but rather is expanding via market dominance. We recently reported that roughly half of the crypto market is bitcoin, and that more people are turning to bitcoin over altcoin experimentation. While this is no doubt indicative of bitcoin’s power, one questions how solid an investment the currency will make granted its price doesn’t reflect the change.
Listen to the 18 August 2018 Bitcoin News Radio Show below. In this edition of the BitcoinNews.com daily radio show, we start with a market analysis, and then discuss how each Bitcoin is worth 60 billion Bolivar Fuerte in Venezuela. Hear about why Bitcoin is the future of currency in the world. Learn about how …
The post Bitcoin News Radio Show, 18th August 2018 appeared first on BitcoinNews.com.
Listen to the 18 August 2018 Bitcoin News Radio Show below.
In this edition of the BitcoinNews.com daily radio show, we start with a market analysis, and then discuss how each Bitcoin is worth 60 billion Bolivar Fuerte in Venezuela. Hear about why Bitcoin is the future of currency in the world. Learn about how Fidelity will give clients access to their Bitcoin ETN, and how Bitcoin has a transaction volume of USD 1 trillion worldwide so far in 2018.
Follow the Bitcoin News Radio Show on Anchor, Spotify, Google Podcasts, Stitcher, Overcast, Radio Public, Pocket Casts, and Breaker. We broadcast a new episode every day, covering the most important topics in the crypto, Bitcoin, and blockchain world!
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The post Bitcoin News Radio Show, 18th August 2018 appeared first on BitcoinNews.com.
CCNValuation of Crypto Market Slightly Declines But Bitcoin Price Shows StabilityCCNIn the past 24 hours, the valuation of the crypto market has dropped slightly by $2 billion, from $215 billion to $213 billion, as the Bitcoin price and Ethereum price …
CCN | Valuation of Crypto Market Slightly Declines But Bitcoin Price Shows Stability CCN In the past 24 hours, the valuation of the crypto market has dropped slightly by $2 billion, from $215 billion to $213 billion, as the Bitcoin price and Ethereum price demonstrated stability. Most major cryptocurrencies including Bitcoin Cash, Ripple ... |
The U.S. Department of Justice has indicted Jacob Burrell Campos, a Mexican resident, for his Bitcoin dealing operation that spanned across international borders. The Assistant United States Attorney General says “Burrell’s activities ‘blew a giant hole’ through the legal framework of U.S. anti-money laundering laws by soliciting and introducing into the U.S. banking system close …
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The U.S. Department of Justice has indicted Jacob Burrell Campos, a Mexican resident, for his Bitcoin dealing operation that spanned across international borders. The Assistant United States Attorney General says “Burrell’s activities ‘blew a giant hole’ through the legal framework of U.S. anti-money laundering laws by soliciting and introducing into the U.S. banking system close to $1 million in unregulated cash”. Campos is being held without bail. Due to his residency in multiple countries, disdain towards the United States, and large amounts of cash, he is considered a flight risk.
Bitcoin dealing used to be one of the most popular ways to purchase Bitcoin before the proliferation of Bitcoin ATMs and exchanges. Essentially, Bitcoin dealing is peer to peer trading, but some of the traders become big and start trading large amounts of Bitcoin, and assume the title of Bitcoin dealer. Due to the ease of access to Bitcoin ATMs and exchanges in the United States at this time, it is an unfortunate fact that anyone paying an extra premium of 10-20% and spending extra time to buy Bitcoins from a Bitcoin dealer is probably doing something illegal with the Bitcoins. The United States is aggressively cracking down on Bitcoin dealers, what was once an honorable position has become a crime.
Campos sent USD 1 million from Mexico into the United States to avoid reporting his earnings, which is what specifically got him busted. He transacted USD 3 million of Bitcoin over the course of thousands of transactions, USD 900,000 of which was sent to Bitfinex in Taiwan after his Coinbase account was closed. It is quite common for Bitcoin dealers to be banned from exchanges and platforms for sending and receiving money; ironically this leads to a Bitcoin dealing operation being even harder to trace and harder to stop.
Campos accepted cash for Bitcoins without asking any questions, which is a common and respectable way for Bitcoin dealers to operate. He says he only charged 5%, but this seems too low, Bitcoin dealers can easily charge up to 30% especially since most people using a Bitcoin dealer instead of a Bitcoin ATM are criminals.
The Department of Justice has hit Campos with 31 charges, including operating an illegal money transmitter business, not maintaining an anti-money laundering program, international money laundering, and conspiracy to structure monetary transactions, which means breaking up transactions to avoid reporting. Overall he will probably lose all the money he has and spend several years in prison. Campos is in a very bad position since he can’t bail out, which will make him desperate to cut a deal as fast as possible.
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Playboy has entered litigation in order to get its blockchain payment services up and running, and Joseph Lubin sees crypto bubbles as bringing more developers into the space
Playboy has entered litigation in order to get its blockchain payment services up and running, and Joseph Lubin sees crypto bubbles as bringing more developers into the space
Cointelegraph |
Despite Market Gains on the Day, Bitcoin Remains Below $6500, Ethereum Loses $300 Support
Cointelegraph Bitcoin (BTC) is currently seeing almost no change over the past 24 hours at press time, trading at around $6,380, according to Cointelegraph’s Bitcoin price index. Yesterday’s bullish but short-lived spike upwards towards the $6,500 mark has failed to … |
Cointelegraph |
Despite Market Gains on the Day, Bitcoin Remains Below $6500, Ethereum Loses $300 Support
Cointelegraph Bitcoin (BTC) is currently seeing almost no change over the past 24 hours at press time, trading at around $6,380, according to Cointelegraph's Bitcoin price index. Yesterday's bullish but short-lived spike upwards towards the $6,500 mark has failed to … |
Market momentum builds amongst top altcoins, but Bitcoin slips below $6,500 and Ethereum fails to hold $300 support
Market momentum builds amongst top altcoins, but Bitcoin slips below $6,500 and Ethereum fails to hold $300 support
