Day: August 5, 2018

Bitcoin Hovers Near $7,000, While Altcoins Show Marked Signs of Recovery

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August 5: After yesterday’s market nosedive, Bitcoin (BTC) is up just slightly, hovering around the $7,000 mark. All major altcoins are however showing marked signs of recovery, up between one and seven percent, as data from Coin360 shows. Market visualization from Coin360 Bitcoin (BTC) is trading around $7,040 to press time, holding ground on the day after its rapid tumble yesterday back to a price point not seen since July 17. The leading cryptocurrency could now be eyeing $6,800 as a short-term support, after several faltering pushes above the $7,000…

‘No Coffee for Bitcoin,’ Starbucks Clarifies as Media Misrepresent Its New Crypto Venture

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Starbucks has clarified that it will not be accepting Bitcoin (BTC) or other cryptocurrencies as payment, despite misleading reports from mainstream media, a spokesperson told Motherboard Friday, July 3. Earlier on Friday, New York Stock Exchange (NYSE) operator the Intercontinental Exchange (ICE) announced plans to create a new “global platform and ecosystem for digital assets,” dubbed “Bakkt,” alongside a group of big name enterprises including Starbucks, BCG and Microsoft. Following the major announcement, a number of mainstream media outlets, including Bloomberg and CNBC, ran misleading headlines –– such as CNBC’s…

Both Kim Kardashian and the Operator of the New York Stock Exchange Get Into Bitcoin

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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 New York Stock Exchange Operator Announces Digital Assets Platform, BTC Futures Intercontinental Exchange, the operator of 23 global exchanges including the New York Stock Exchange (NYSE), has announced plans to launch an “open and regulated” global digital asset ecosystem, as well as one-day…

Jamie Dimon Says JPMorgan Will Use Blockchain ‘for a Whole Lot of Things’

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JPMorgan Chase’s Jamie Dimon was bullish on blockchain tech, but shied away from commenting on cryptocurrency, saying fiat payment apps are “the biggest potential disruption to our business” in an interview published in the July-August issue of the Harvard Business Review. When asked about his company’s chief competitive threat, Dimon, chairman and CEO of JPMorgan Chase — the largest of America’s Big Four banks — singled out what he called “new forms of payment.” Specifically naming PayPal, Venmo and Alipay, Dimon said that “these companies are doing a good job…

Crypto Market Valuation Drops Back to $250 Billion, Volume Declines Substantially

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The valuation of the crypto market has dropped by $50 billion within a week, from $300 billion to $250 billion, led by the fall of Bitcoin. In the past 24 hours, the Bitcoin price fell from $7,250 to $6,950, extending its loss on August 4 and recording another 4 percent loss on the day. Volume is Tanking Last week, the volume of Bitcoin hovered around at $5.5 billion while the volume of the entire crypto market exceeded $18 billion. As of August 5, the volume of Bitcoin remains below $4.1…

What Has Caused the Bitcoin Price to Drop Below $7,000 in the Past 48 Hours?

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Over the past 48 hours, the Bitcoin price has dropped by more than eight percent from $7,500 to $6,890, despite having seen some of the most positive developments in the history of the crypto market. Bitcoin 1-day price chart, provided by Cryptowat.ch OTC Sell-Off The vast majority of short-term traders and casual investors utilize cryptocurrency exchanges such as Coinbase, Bitfinex, Binance, OKEx, Huobi, and UPbit to buy and sell major digital assets. Developments in the cryptocurrency sector pertaining to merchant adoption, institutionalization of cryptocurrencies, and technical breakthroughs can have a…

Money or Assets? How World Governments Define Cryptocurrencies

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Cryptocurrencies — what are they? Money? Commodities? Securities? Utility tokens? Or something else? Few national governments seem to be in any kind of agreement on this question, and for now, at least, their divisions have given such currencies as Bitcoin and Ethereum a floating, indeterminate status on the global stage. As a result, cryptocurrencies lack a single, definite existence, with some nations treating them as money (e.g., Japan, Germany) and others treating them as an unregulated, speculative asset (e.g., Mexico, Denmark), making them the financial equivalent of Schrödinger’s cat. However,…

Bitcoin Price Weekly Analysis: BTC/USD Remains Sell on Rallies

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Key Points Bitcoin price declined below $7,260 and moved into a bearish zone against the US Dollar. There is a major bearish trend line formed with resistance at $7,320 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $7,260 and $7,320 resistances to move back in a positive zone. Bitcoin price tuned bearish with a close below $7,260 against the US Dollar. BTC/USD’s upsides remain capped near the $7,260 and $7,320 levels in the near term. Bitcoin Price Upside Hurdles This past…

Ethereum Price Weekly Analysis: ETH/USD Facing Uphill Task

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Key Highlights ETH price is under a lot of bearish pressure below the $430 and $410 levels against the US Dollar. There are two bearish trend lines in place with resistance at $432 and $412 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair needs to settle above $432 and the 100 SMA (4-hours) to move back in a positive zone. Ethereum price is trading with bearish moves versus the US Dollar and Bitcoin. ETH/USD is facing major hurdles near $732 for a recovery in the near…

Bitcoin Cash Price Weekly Analysis: BCH/USD Bearish Below $730

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Key Points Bitcoin cash price declined and broke the $730 and $705 support levels against the US Dollar. There is a major bearish trend line formed with resistance at $710 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair has to move above $710 and $730 to start a decent recovery in the near term. Bitcoin cash price is under pressure below the $730 pivot level against the US Dollar. BCH/USD may perhaps recover, but upsides could be capped. Bitcoin Cash Price Resistance There was…