Bitcoin News Summary – September 17, 2018

Here’s what happened this week in Bitcoin in 99 seconds.  Coinbase announced the doubling of its February staff count, to 500 permanent members. Coinbase CEO, Brian Armstrong, predicted 1 billion crypto users within 5 years. The SEC suspended the Swedish Bitcoin and Ethereum ETFs within America known as “Bitcoin or Ethereum Tracker One”. On the other hand, a regulated Bitcoin ETF was launched on Canadian markets. Known as the FBC Bitcoin Trust, the ETF will allow accredited Canadian investors exposure to Bitcoin’s performance through their bank account or pension…

Samsung SDS to Power World’s First Exports Customs Clearance Blockchain in Korea

The Korea Customs Service (KCS) has entered an agreement with Samsung SDS to implement the latter’s blockchain technology for an export customs clearance system. Samsung SDS, the IT subsidiary and technology provider of Korea’s largest conglomerate Samsung, will develop the world’s first blockchain-based export customs logistics service for the Korea Customs Service to enable efficiency and curb fraud in the industry. A memorandum of understanding between the two entities also sees 48 other organizations and companies including relevant government authorities, shipping operators, logistics firms and insurance providers join the agreement,…

Binance is ready to launch a beta Crypto-Fiat Exchange in Singapore

The CEO of the world’s largest cryptocurrency exchange Binance, Changpeng Zhao is in the cryptocurrency industry conference “Cumberland Summit” (September 14th – 16th) in Singapore. The summit consists of major names of crypto space like Thomas Lee from Fundstrat, Tyler Winklevoss, representatives from Binance and many more. On Saturday, 15th Sep, CZ announced on Twitter that Binance is going to launch a “live money beta testing” of Singapore FIAT exchange, starting from Sept 18th. He tweeted on the second day (out of three) of Cumberland summit, occurring in Singapore: I…

Gas Ain’t Gold: Why Ether’s Price Could Tank Even If Ethereum Succeeds

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. The virtuous circle that saw buyers of ethereum-based ERC-20 tokens drive ether’s price above $1,400 mid-January has morphed into its diametric opposite. The initial coin offering boom has fizzled and the price has sunk to just above $200. This new phase, a vicious cycle downturn that has exposed the ether…

Gas Ain’t Gold: Why Ether’s Price Could Tank Even If Ethereum Succeeds

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. The virtuous circle that saw buyers of ethereum-based ERC-20 tokens drive ether’s price above $1,400 mid-January has morphed into its diametric opposite. The initial coin offering boom has fizzled and the price has sunk to just above $200. This new phase, a vicious cycle downturn that has exposed the ether…

Litecoin (LTC) Price Watch: Is That a Double Bottom?

Litecoin Price Key Highlights Litecoin price could be done with its drop as a double bottom may be forming on the 4-hour chart. Technical indicators are showing mixed signals at the moment as selling pressure remains present. A break past the neckline at $70 could lead to a rally that’s the same height as the chart formation. Litecoin could be in for a reversal from its slide as a double bottom can be seen on its 4-hour chart, awaiting confirmation. Technical Indicators Signals The 100 SMA is above the longer-term…

Bitcoin (BTC) Price Watch: Bullish Reversal Pattern Forming?

Bitcoin Price Key Highlights Bitcoin price appears to be gaining some traction off its recent bounce, possibly forming another double bottom. This is a classic reversal formation, so a rally could be due once price breaks past the $7,400 neckline. Technical indicators, however, are suggesting that the selloff might still resume. Bitcoin price might be ready to form another double bottom pattern, but technical indicators suggest that bearish pressure is still here. Technical Indicators Signals The 100 SMA is still above the longer-term 200 SMA for now but it looks…

Draghi: No plans for European digital currency

The European Central bank has no plan to issue a digital currency because the underlying technology is still fragile and the use of physical cash still high in the euro zone, the ECB president said on Friday. The sudden proliferation of cryptocurrencies such as Bitcoin, essentially a privately created online token, has sparked a global debate over whether central banks should also launch their own digital money. This would give holders a direct claim on the central bank, bypassing the banking system and potentially revolutionising the way monetary policy is…

At $6,500, Bitcoin Prices are Under-Priced

A combination of over-the-tops Bitcoin price predictions by Tim Draper and favorable developments in the crypto-verse could cement our previous Bitcoin price forecasts. Further strengthening this position is news that Morgan Stanley plans on creating their Bitcoin derivatives. Coincidentally, and more positive for Bitcoin and other cryptos, more hedge funds are looking to funnel their capital into this nascent field. Bitcoin Latest News Tim Draper is a Bitcoin perma-bull and that’s a relief for investors who bought at the top and have to contend with 75 percent losses. According to…

Google Security Expert Warns Against Bitcoin Bragging Online

Mark Risher, Google’s director of product management, Google Identity, account security, and spam & abuse, recently urged cryptocurrency investors not to brag about their virtual currency holdings online. Also Read: Netherlands’ Largest Bank ING Group Fined $900M for Money Laundering Google Security Expert Cautions Traders Against Boasting Online In a recent interview with CNBC, Google security lead, Mark Risher, cautioned crypto traders against boasting of their cryptocurrency portfolio on the internet. Mr. Risher warned that gloating of one’s virtual riches risks attracting malicious actors such as cyber attackers, citing an uptick…