Month: June 2018

UK’s FCA | Issues Letter to Banks Over Crypto Risks

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The UK’s Financial Conduct Authority (FCA) issued a letter on Monday to bank CEOs over the potential risks that they face when dealing with cryptocurrencies. A Letter from the FCA Criminal activities are synonymous with cryptocurrency use and the letter is said to suggest “good practice” that banks can follow to be vigilant against these activities. According to the FCA, the letter details how firms should handle financial crime that may occur as a result of “cryptoassets,” which the FCA defines as cryptocurrencies or any type of “publicly available electronic medium of…

Bitcoin Price Watch | BTC/USD Crashes Below $7,000

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Bitcoin price crashed down below $7,000 after the South Korean cryptocurrency exchange Coinrail was hacked over the weekend. The cyber attack sent BTC/USD down by approximately 10%. Currently, the digital currency is trading at close to $6,730, near its two-month low. BTC/USD Crashes Below $7,000, On Bearish Trend On Monday morning, Bitcoin price continued to trend downward following the latest cyber intrusion, which caused a loss of about 30% of the coins traded on the Coinrail exchange. Bitcoin price fell more than 10% as a result, now trading near a…

$6K Next? Bitcoin Bear Market Back After 10% Drop

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The bitcoin market has come alive in the last 36 hours, with the bears gaining the upper hand and now aiming for fresh 2018 lows below $6,000. The cryptocurrency dropped nearly 10 percent on Sunday, hitting a two-month low of $6,619 on Bitfinex, having spent the last two weeks trading in the narrow range of $7,000–$7,800. Across the media, the price drop has been put down to a hack on South Korean exchange Coinrail, revealed Sunday, and renewed concerns regarding security at cryptocurrency exchanges. However, a big move was expected…

Bitcoin Price Dips to Two-Month Low Below $7K

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The price of bitcoin dropped $500 in a single hour Sunday to hit a two-month low below $6,700. According to CoinDesk’s Bitcoin Price Index, the world’s largest cryptocurrency by market capitalization is now changing hands at $6,718, up slightly after reaching a daily low of $6,647, its lowest total since April 10. Indeed, data shows that over the last 24-hours bitcoin failed to find solid support in the $7,470 zone, before plummeting 11 percent to $6,647. For traders, this means bitcoin’s two-month uptrend appears to be in question. Trading at…

The Yes Votes Are In: EOS Blockchain to Launch Imminently

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The launch of the EOS blockchain has been a giant experiment in remote self-organization. Tonight, it took a big leap forward. As anticipated, candidates for the role of validators or “block producers” (EOS’s equivalent of bitcoin miners) located all over the world voted “Go” to take the mainnet live. EOS is a distributed proof-of-stake blockchain created by Block.One, whose co-founder, Dan Larimer, has pioneered similar systems with BitShares and Steem. The company raised $4 billion to develop the open source software over a year-long initial coin offering. No one really…

Bitcoin Cash Price Watch | BCH/USD Heads For Upside Break

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Key Highlights: Bitcoin Cash price held steady for the past few days, trading in the $1,050-1,150 range throughout most of the week. BCH/USD is heading for an upside break, now on a bullish trend line testing a major resistance of $1,125. A major support level has been established at $1,080. BCH/USD Heading For Upside Break For the past week, Bitcoin Cash remained steady as price volatility began to decrease. BCH/USD mostly stayed between the $1,050-1,150 range, though it did surpass the $1,200 level briefly earlier this week. At the moment,…

Codius to be Launched Soon

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By now, most people are aware that Codius is coming back. This in itself is big news, but the relaunch of the smart contract platform is making waves for two other reasons. First, people are talking about it because the product will not be launched through Ripple, but rather by Coil. Second, there is speculation that Codius is going to kill Ethereum (ETH).  In this article, we’re going to be dissecting both of those headlines.  Codius is Back! But It’s Not Ripple’s Product Anymore In May, Stefan Thomas departed from…

Bitcoin Price Watch | BTC/USD Holds Support, Volatility On The Decline

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Bitcoin price hovered around the $7,550-$7,650 territory on Friday morning. Volatility has declined since the beginning of the week, as BTC/USD has been largely trading in this range for the past seven days. BTC/USD also struggled to move past the $7,700 price point earlier today. BTC/USD Holds Support At $7,550 For most of Friday morning, Bitcoin price stayed steady in the $7,550-$7,650 range, with the lower limit being its major support level. Bitcoin has been trading in an increasingly narrow range for the past week, and volatility is on the…

Bitcoin, Ethereum, Ripple Drop 3% in $9 Billion Crypto Market Retreat

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The valuation of the cryptocurrency market has dropped by more than $9 billion over the past 24 hours, as major cryptocurrencies such as bitcoin, Ethereum, Ripple, Bitcoin Cash, and Cardano declined in the range of 2 to 5 percent. Minor Movement Yesterday, on June 7, CCN reported that the cryptocurrency market has stabilized to an extent, as both major cryptocurrencies and minor tokens remained in the same region for over a week, struggling to initiate movements on the upside. Short-term stability in the cryptocurrency market often lead to two outcomes:…