Day: September 19, 2018

Central Bank Refutes Fake Articles Claiming its Chairman Invested $1 Bln in BTC

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Singapore’s de facto central bank issued two warnings over two fake news websites Tuesday, September 18, after articles were published with “fabricated comments” about crypto from Chairman and Deputy Prime Minister Tharman Shanmugaratnam. The sites, Gulf Weed Crab and Positive Bath Hour, which feature hoax news stories on seemingly random topics, had claimed Shanmugaratnam was behind both a state-sponsored $1 billion investment in Bitcoin (BTC) and a “Hi-Tech Digital Project” for Singaporeans. The websites have since appeared to withdraw the articles. Gulf Weed Crab’s headline, according to a screenshot reproduced…

Bitcoin Price Lacks Direction After Defense of $6,200

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Bitcoin (BTC) is trapped in a no man’s land between $6,200 and $6,600, technical charts indicate. The bear flag breakdown witnessed on Monday was supposed to yield a drop to $6,000 (February low). However, the trendline connecting the June low and Aug. 11 low spoiled the bear party. The leading cryptocurrency bounced off the trendline support of $6,202 on Monday and rose back above $6,350 in the last 24 hours, neutralizing the immediate bearish outlook. At press time, BTC is changing hands at $6,320 on Bitfinex – up 1.23 percent…

Cardano, Ripple 10% Surge, Bitcoin Volume up 26% to $4 Billion

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Cardano (ADA) and Ripple (XRP) have surged by more than 10 percent in the past 24 hours while Bitcoin maintained stability, leading the recovery of the crypto market. Earlier this week, the valuation of the crypto market dropped to $190 billion, which led investors to worry about a potential fall to the market’s yearly low point at $185 billion. Bitcoin has remained relatively stable in the $6,300 region as it has been throughout the past few weeks. Gradual Recovery On September 16, when the Bitcoin price was hovering at around…

The Prime Minister of Czech Republic has accused the opposition of Bitcoin mining 

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Prime Minister of Czech questions the bitcoin mining operations  The mining of bitcoin and other cryptocurrencies have become a huge topic in the Czech Republic politics. There has been an unexpected political discussion between the Prime Minister of Czech, Andrej Babis and a few oppositions from the Czech Pirate Party and is now the center of attention. The Prime Minister has accused the opposition of pushing the mining of bitcoins which serves no real functionality to what is currently needed in society. The Czech publication that goes by the name Hospodarske Noviny…

Upbit Crypto Exchange Operator to Open Singapore-Based Crypto Exchange Next Month

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Kakao-affiliate Dunamu, the operator of major South Korean crypto exchange Upbit, plans to open a Singapore-based exchange next month, local news outlet Yonhap News reports September 19. According to Yonhap, Dunamu already set up a branch in Singapore this February as part of its active push to expand across the Asian market. While the exact date of the Singapore exchange launch remains to be finalized, the firm told Yonhap that the service will go live as of early October. Kim Kook-hyun, head of Upbit’s existing Singapore branch, is quoted as…

Bitcoin Price Watch: BTC/USD Facing Crucial Resistances

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Key Points Bitcoin price started an upside move after trading as low as $6,202 against the US Dollar. There was a break above a key bearish trend line with resistance at $6,340 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move higher, but it is facing many hurdles near $6,390 and $6,400. Bitcoin price recovered nicely from the $6,200 support against the US Dollar. BTC/USD is now above $6,300, but it could struggle near the $6,370, $6,390 and $6,400 levels. Bitcoin…

XRP Price Surge upon speculation on xRapid release

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XRP prices rose sharply today, climbing more than 20% in less than 12 hours as traders responded to speculation surrounding the Ripple network. The price of this digital currency, which was created by the founders of Ripple, spiked roughly 22% from $0.2723 to $0.3327 on CoinMarketCap. When explaining the digital currency’s recent price rally, analysts pointed to rumors surrounding the Ripple network. xRapid Release Date A perfect example is the speculation surrounding xRapid, a digital currency product that could be available soon. This product, which reduces liquidity costs and makes it easier for banks to make transactions, should be online…

Ethereum Price Analysis: ETH/USD Consolidating Above $200

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Key Highlights ETH price recovered nicely and moved above the $210 level against the US Dollar. There is a key bearish trend line in place with resistance at $216 on the hourly chart of ETH/USD (data feed via Kraken). The pair must break the $216 and $220 resistance levels to move further higher in the near term. Ethereum price is mostly consolidating against the US Dollar and bitcoin. ETH/USD is likely to decline a few points towards $205 before moving higher. Ethereum Price Support After a major downside correction towards…

Trading Legend Don Wilson: Asian Demand High for Bitcoin Futures

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Don Wilson, founder of high-speed trading firm DRW, said bitcoin derivatives trading in Asia hours is almost equal to the volume he’s seen in the U.S., something he says is an anomaly when compared to other financial instruments. In a fireside chat at the CoinDesk Consensus Singapore 2018 conference with Quartz’s John Detrixhe, Wilson discussed his observations on cryptocurrency trading trends and his view on the future for the technology. Referencing bitcoin futures trading data on U.S. exchanges provided by CME and CBOE, Wilson went so far as to suggest…

How Blockchain Can Help Both Refugees and Host Nations

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As the United Nations Refugee Agency warned in the first days of September, the death rate for refugees attempting to reach Europe has risen. That sounds even more cruel considering that the numbers trying to make the crossing has fallen. For every 18 people crossing to Europe over the central Mediterranean between January and July 2018, one person died. This is twice more than over the same period in 2017, when there was one death for every 42 refugees and migrants attempting the crossing. Summer in the United States brought…