Day: July 8, 2018

Finland Calls Bitcoin a ‘Fallacy,’ While EU Warns Against BTC Pessimists Like Robert Shiller

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Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link.   Top Stories This Week Vitalik Buterin Rails Against Centralized Cryptocurrency Exchanges Vitalik Buterin, the co-founder of Ethereum, said this week that he hopes centralized exchanges will “burn in hell” due to their ability to determine which cryptocurrencies “become big” by charging “these crazy ten to fifteen…

Bank of Korea Says Crypto Investment Poses ‘Insignificant’ Risk to Local Financial Market

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According to South Korean central bank the Bank of Korea (BOK), the outstanding balance of virtual currency accounts in domestic banks totalled $1.79 billion as of Dec. 2017, local news outlet Yonhap reported Friday, July 5. The BOK’s report considered the $1.79 billion (2 trillion won) figure to be relatively low, as it is equivalent to around 8 percent of the total deposits operated by the country’s brokerage houses -–– reportedly worth 26 trillion won ($23.27 billion).The report therefore suggested that crypto markets do not pose a threat to traditional…

Crypto Markets Rally, With Bitcoin Pushing $7K, Ethereum Close to $500

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The crypto markets are on a strong upswing today, July 8, as data from Coin360 shows, with with Bitcoin (BTC) pushing the $7,000 price point. Virtually all of the top 100 coins by market cap are green on the day to press time. The markets have seen just over a week of solid consolidation of gains first claimed in their late June rebound, and today appear to be pushing even higher resistance levels. Market visualization from Coin360 Bitcoin is trading around $6,752 to press time, up 3 percent over the…

‘Everyone Is Smart Enough to Lose or Make Money’ in Crypto

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This interview has been edited and condensed. Ameer Rosic, serial entrepreneur and founder of online blockchain hub Blockgeeks, goes into why he thinks investing in crypto should be open to the masses and what it will take to induce widespread blockchain adoption during an interview at this year’s BlockShow Europe 2018. Molly Jane: First off, how did you get interested in the crypto and blockchain space? Ameer Rosic: I’ve been a serial entrepreneur for my all life. I’ve been involved in the blockchain space way before any of this ICO…

$150 Billion Ant Financial Sees Blockchain as the Future Technology, Big Investment

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Jack Ma-led Chinese e-commerce giant Alibaba’s fintech conglomerate Ant Financial considers blockchain technology as one of the five key technologies that will dominate every industry in the long-term. Ant Financial Hopes to Use Blockchain in its Core Businesses At the TechCrunch International City Event held in Hangzhou this week, Zhang Hui, the director of Blockchain Department at Ant Financial, stated that alongside AI, Security, IoT, and computing, blockchain is a key technology the company is actively developing and testing to implement it at a large commercial scale. Zhang noted that…

Despite Low Volume, Crypto Market Rebounds by $11 Billion, Ethereum Sees 5% Rise

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The valuation of the crypto market increased by around $11 billion over the past 24 hours, triggered by the short-term momentum of bitcoin, Ethereum, and Bitcoin Cash. Ethereum / Bitcoin Volume Still Low On yesterday’s report, CCN noted that a downtrend in the short-term is expected due the relatively low volume of digital assets including bitcoin, Ethereum, and Bitcoin Cash. Currently, as of July 8, the daily volume of Tether (USDT), a stablecoin whose value is hedged to that of the US dollar, is nearly two times larger than the…

Bitcoin Price Weekly Analysis: BTC/USD Could Break $7,000

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Key Points Bitcoin price formed a strong support base near $6,450 and jumped higher against the US Dollar. There is a major ascending channel in place with support at $6,600 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair remains supported and it is likely to move further higher above the $7,000 level in the near term. Bitcoin price is gaining momentum above $6,600 against the US Dollar. BTC/USD could accelerate gains above $7,000 to target the $7,250 level. Bitcoin Price Trend This past week,…

Ethereum Price Weekly Analysis: ETH/USD Eyeing Further Upsides

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Key Highlights ETH price traded higher recently and broke the $470 resistance zone against the US Dollar. There is a key connecting bullish trend line formed with support at $465 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is likely to move above the $490 and $500 resistance level to gain upside momentum. Ethereum price is placed in a bullish zone versus the US Dollar and Bitcoin. ETH/USD remains supported on the downside near the $470 and $462 levels. Ethereum Price Support This past week, there…

Bitcoin Cash Price Weekly Analysis: Can BCH/USD Recover Further?

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Key Points Bitcoin cash price found support around the $700 handle and recovered against the US Dollar. There is a major bullish trend line formed with support at $730 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair may dip a few points, but it remains supported near the $730 and $710 levels. Bitcoin cash price is placed nicely above the $700 pivot level against the US Dollar. BCH/USD could accelerate gains above the $780 level in the near term. Bitcoin Cash Price Support This…