Day: August 30, 2018

Bitcoin must hold $7k in order to rally expert says

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Bitcoin surged in the price on Monday night after the Securities and Exchange Commission (SEC) rejected nine exchange-traded fund (ETF) applications last week. Michael Moro, CEO of Genesis Trading, told CNBC: “Once the news broke about the SEC rejection, the price actually held. We didn’t see the five, 10, 15 percent sell off that you’ve seen in previous reductions and that the technicals right around 5,800 and 5,900 levels held. “I think the bears have realised that they have run out of steam.” The cryptocurrency trader explained what will need to be…

Research Firm Satis Group Predicts Bitcoin at $144,000 in 10 Years, Bitcoin Cash at $180

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Research firm Satis Group has released a new report making bold price predictions about the current leading cryptocurrencies on the market. It is attempting to create accurate valuations based on real-world data. Individual Crypto Asset Valuations As an emerging, disruptive technology that’s value isn’t yet fully understood or demonstrated, it’s increasingly difficult to give each individual crypto asset a valuation. This creates wild price volatility led by speculators working through natural price discovery. The report, penned by researchers Sherwin Dowlat and Michael Hodapp, is a deep dive into cryptocurrency market valuations.…

Monero Headed to $18k, Ripple Price Primed for 97% Crash: Research

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Anonymity-centric cryptocurrency monero may be the best buy in crypto right now, and bitcoin’s not far behind. The ripple price (XRP), on the other hand, could be primed for a historic crash. Bitcoin, Monero Have Bright Futures That’s according to a new report from initial coin offering advisory and research firm Satis Group, which attempts to forecast what shape the cryptocurrency market will take over the next decade. The real winner from the analysis is monero, currently the 11th-largest cryptocurrency, which Satis predicts could be worth $18,000 within the next…

Bitcoin Loses $7K Footing Amid Market-Wide Price Correction

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Thursday, August 30: following the week’s brief uptick, crypto markets are today seeing widespread corrections, with the top ten coins by market cap losing between 1.5 and 5 percent on the day. All but 13 minor alts among the top 100 ranked cryptos are in the red, as Coin360 data shows. Market visualization from Coin360 Bitcoin (BTC) is trading at around $6,942 at press time, down1.52 percent on the day, according to Cointelegraph’s Bitcoin price index. Having broken through the much-fêted $7,000 threshold earlier this week, the top coin has…

Walmart Wants to Build a Robot Army Controlled by Blockchain

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Retail giant Walmart has a plan to build an army of autonomous robots controlled and authenticated through a blockchain network. Documents published on Thursday by the US Patent & Trademark Office (USPTO) show that the Walmart has applied to patent a system that oversees the “in-field authenticating of autonomous robots.” The Bentonville, AR-based firm submitted the patent application in Jan. 2018. The patent title immediately conjures up visions from the Terminator franchise, but the retail empire claims it’s not building Skynet. Rather, Walmart says that it plans to use its…

If You Give A Mouse a Bitcoin…

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Ethereum’s biggest test is fast approaching, and an important decision regarding issuance is up in the air. -AND- Secret contracts provider Enigma has signed eight partners to test its service at launch. -ALSO- Bitcoin mining juggernaut Bitmain is coming to Ethereum, and possibly other blockchains. -DON’T MISS- CoinDesk researcher Peter Ryan joins host Nikhilesh De to discuss forks, airdrops, and the five possible forks heading for Bitcoin Cash. Recorded August 30, 2018 in New York, NY. Thanks to our sponsors! Said Business School, University of Oxford Oxford Fintech Programme Oxford…

Reserve Bank of India Confirms It Is Looking Into Making a Central Bank Digital Currency

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India’s central bank, the Reserve Bank of India’s (RBI), has confirmed the creation of an inter-departmental group tasked with analyzing the feasibility of issuing a rupee-backed central bank digital currency (CBDC), the Economics Times reports August 30. The group’s establishment and focus was detailed in the bank’s Annual Report 2017-18, confirming earlier details that followed a meeting of India’s Monetary Policy Committee (MPC) in April. The impetus for investigating the issuance of a fiat-tethered CBDC reportedly derives in largely from cost considerations: the Economic Times cites statistics that suggest the…

Mystery and Confusion Besets Venezuela’s Crypto ‘Revolution’

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Reuters has today, August 30, published an investigative report into Venezuela’s national oil-backed cryptocurrency, the Petro (PTR), attempting to square government claims with facts on the ground and evidence of the Petro’s transaction history to date. Reuters dispatched reporters to the central Venezuelan hamlet of Atapirire, which sits at the heart of the 380-square-kilometer territory that the president has said can provide the 5 billion barrels of petroleum needed to back the new cryptocurrency. Amid rampant hyperinflation in the Venezuelan economy, President Maduro last week introduced a rebranded fiat currency…

Venezuelan President Maduro Orders Banks to Adopt Crypto ‘Petro’

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The president of Venezuela, Nicolas Maduro, has reportedly ordered banks in the South American country to adopt the oil-backed state cryptocurrency, the petro, as a unit of account, according to Agence France-Presse. Per a resolution passed by Sudeban, Venezuela’s banking sector regulator, financial institutions in the country will now be required to ensure that their financial information is reflected in the petro cryptocurrency besides the bolivar, the country’s fiat currency. Sudeban instruye a la banca adoptar el “Petro” como unidad de cuenta #AhorroEnOro @NicolasMaduro @minecofinanzas @SimonZerpaD (2) pic.twitter.com/rqbrHrJPL5 — SudebanInforma…

France’s Interrogation of Alleged BTC-e Owner Alexander Vinnik Was ‘Fake’, Says Attorney

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Alleged former owner of crypto exchange BTC-e Alexander Vinnik was indicted and subjected to a “fake” interrogation by French prosecutors on Tuesday, August 28, his attorney Timofey Musatov told Russian news outlet Izvestiya Thursday, August 30. Musatov claims that his client Vinnik was brought to a court in Greece where he is currently awaiting extradition and then informed about official charges in France. Musatov also told Izvestiya that French prosecutors attempted to hold a “fake” interrogation without informing his lawyers, which he insists was a violation of Vinnik’s rights. He…