Day: July 22, 2018

Bitcoin Breaks $7,500 Point After a Week of Solid Growth, BTC Dominance Goes Up

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Crypto markets are experiencing a mix of green and red today, July 22, with some of top 20 altcoins by market cap seeing a slight dip of around 1 percent over the past 24 hours, while Bitcoin (BTC) has reclaimed the $7,500 price point, according to Coinmarketcap. Following a week of solid upswing, none of the top 20 coins by market cap are up or down by more than about 1 percent, showing relatively static growth. Market visualization from Coin360 Bitcoin broke the $7,500 barrier today, up about 1 percent…

Central Bank Digital Currencies ‘Will Reshape Competition’ in Crypto Market

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A study on issues of competition in fintech, commissioned by the European Parliament Committee on Economic and Monetary Affairs (ECON), was published July 20. It found that central bank-issued digital currencies could be a “remedy” for a lack of competition policy in the crypto sector: “The arrival of permissioned cryptocurrencies promoted by banks, even by central banks, will reshape the current competition level in the cryptocurrency market, broadening the number of competitors.” The study mentions cryptocurrencies like Bitcoin (BTC) as “technological and operational paradigms that are a source of disruption…

Asian Asset Manager Focusing on Family Offices to Launch Crypto-Custody Solution

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The Fusang Investment Office, an Asia-based fund management firm focusing on family offices, is planning to launch a crypto-custody service in Hong Kong, local news outlet the South China Morning Post reports Sunday, July 22. The custody service, Fusang Vault, will hold digital assets for clients as well as provide periodic audits, according to the company’s CEO Henry Chong. The service’s launch is planned for the fourth quarter of 2018. Comparing digital assets to financial bonds, Chong noted the increasing need to provide an independent third party that would hold…

Augur Surges 35%, Low Volume of Bitcoin May Lead to Short-Term Drop

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Over the past week, the volume of bitcoin has dropped from $5.5 billion to $3.5 billion, subsequent to a surge in the bitcoin price from $6,800 to $7,500. 36% Drop in Volume In seven days, the volume of bitcoin has dropped by 36 percent, by more than $2 billion. The volume of ether, the native cryptocurrency of Ethereum, and Tether (USDT), the most widely utilized stablecoin in the global crypto market, have also declined by a similar margin. A drop in the volume of bitcoin supplemented by an increase in…

Bank of Canada Study Finds Double Spending in Blockchain is ‘Unrealistic’

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The Bank of Canada (BoC) has published a study on the “incentive compatibility” of blockchain technology this week, finding that double spending is an “unrealistic” outcome. The new BoC study focuses on a proof-of-work (PoW) protocol for blockchain technology, modelling the behaviors of a “honest miner” and a “dishonest miner.” The Canadian bank’s researchers modelled a system to check whether a digital ledger like blockchain was immune to types of “cheating” such as double spending, when users change records in the ledger for their own gain. The study writes that…

Bitcoin Price Booms, App Launches and Acquisitions: This Week in Crypto

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Make sure you check out our previous edition here, now let’s go over what happened in crypto this week. Also, make sure you subscribe for this week’s edition of The CCN Podcast on iTunes or wherever you get your podcasts. Also make sure you check out last weeks interview with Bridge CEO Stephen Hyduchak. Price Watch: Bitcoin increased nearly 18% this week after months of slow decline. The price peaked at just over $7,500 Opinions are mixed on wether or not this trend will continue. BitMEX CEO Authur Hayes said in an interview with CNBC this week that prices would…

Coinbase Backpedals on Regulatory Approval and Switzerland Becomes Even More Crypto Friendly

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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 Crypto Exchange Coinbase Retracts Announcement Of Getting Regulatory Approval Major U.S. crypto exchange and wallet Coinbase has retracted their previous announcement that they had secured approval from U.S. regulators to list digital tokens considered to be securities. According to comments sent to Bloomberg,…

Reserve Bank of India Urges Supreme Court to Regulate Crypto

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India’s central bank, the Reserve Bank of India (RBI), has urged the country’s Supreme Court to regulate cryptocurrencies, local news outlet the Financial Express reports July 21. In April of this year, the RBI announced it will stop providing services to businesses or persons dealing with cryptocurrencies, citing high risks. The RBI’s senior advocate Shyam Divan told a bench led by Chief Justice Dipak Misra that it is necessary to regulate Bitcoin (BTC) and other cryptocurrencies since these “particular means” will “encourage illegal transactions.” Divan also pointed out that the…

Crypto Trading 101: Stochastic Oscillators and Price Momentum

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You may have heard of a lagging or leading indicator before. Maybe your friends have tossed around terms like bullish or bearish divergences, oversold or overbought conditions and what signals you should use to enter or exit the market. While there are many tools that can assist with this, one often overlooked indicator is called the stochastic oscillator. Nothing unique to the world of blockchain, the stochastic is a momentum indicator that compares the closing price of the asset with its high-low range over a certain period of time, it’s…

Five Questions to Ask Before Investing in a Blockchain Company

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As interest in blockchain continues to gain traction, the importance of investor education is at an all-time high. With hundreds of new projects popping up every week, it may be hard to separate the wheat from the chaff. Not every project can be or will be successful. To further complicate matters, some come with a cryptocurrency token used to raise funds. How do you protect yourself prior to investing? Educate, educate, educate. I always advocate for researching the project’s team, the industry they are trying to disrupt, and reading the…