Day: September 27, 2018

Argentinean Investors Favor Bitcoin As Peso Plummets

boss

Argentina is going through an economic crisis, which is why many Argentineans favor Bitcoin (BTC) over the Peso to store capital. The intention is to protect their wealth. However, the heavy rush to secure money by buying Bitcoin has led to a rise in the prices of cryptocurrencies. Interestingly, there are some positive developments in favor of the virtual currencies. To meet the growing demand for Bitcoin, 12 BTC ATMs started their operations in a mall in Buenos Aires recently. Even the number of stores ready to accept cryptocurrency as…

Japan Gov’t Outraged by $60m Crypto Hack of Zaif, Regrets no Suspension

boss

Earlier this month, major Japanese crypto exchange Zaif was hacked, losing $60 million worth of crypto in user funds. The Financial Services Agency (FSA), the main financial watchdog of Japan, has stated that it regrets allowing Zaif to continue its operation after the exchange was given two warnings to drastically improve its system. “It is extremely regrettable that such an incident happened when (Tech Bureau) was given two business improvement orders,” an FSA official said. Two Warnings on System Failures and Fraudulent Withdrawals On September 24, the Japanese government officially…

BitTorrent ‘Project Atlas’ Integration With TRON Moving Forward, Says CEO Justin Sun

boss

Decentralized internet startup TRON announced fresh details of its bid to integrate with torrent client BitTorrent in a press release Thursday, September 27, two months after the first plans went public. TRON, which acquired BitTorrent in July for an undisclosed amount, is now seeking to use its TRX token within the platform’s user base to create a hybrid content sharing ecosystem which leverages cryptocurrency. Dubbed “Project Atlas,” the changes will come in the form of a series of “backward-compatible protocol extensions,” the release shared with Cointelegraph now confirms. “To start,…

North and South Korean Approaches Compared

boss

South and North Korea may be separated by a border that’s only 2.5 miles wide, but the two nations couldn’t possibly be more different, at least when it comes to crypto. South Korea has emerged over the past few years as one of the world’s major crypto-trading centers, with the BTC-KRW (Korean won) market being the fourth biggest among national fiat currencies. By contrast, most North Koreans have almost zero knowledge of cryptocurrencies, even though their government has been engaging in Bitcoin mining and the hacking of crypto exchanges in…

Bitcoin cash bulls aim at $600 after gaining 20% in the last 24 hours

boss

Bitcoin cash gained 20% in the last 24 hours as one of the best performing digital currencies. In just a few hours, the coin’s price moved from $440 to $550 and is currently aiming at $600 by the looks of it. These gains have been attributed to some positive developments which will be discussed below. Price Analysis After under performing in the recent weeks, Bitcoin cash made a sharp move gaining 20% in the last 24 hours. Additionally, the coin’s price managed to break out of the 50-day SMA and…

Bitcoin Price Watch: BTC/USD is Following Bearish Bias Below $6,540

boss

Key Points Bitcoin price recovered recently, but it failed to break the $6,540-50 resistance zone against the US Dollar. There is a crucial hurdle formed near $6,540 and two bearish trend lines on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair needs to break the $6,540 resistance and the 100 hourly SMA to gain momentum. Bitcoin price is trading below key resistances against the US Dollar. BTC/USD could retest the $6,400 and $6,350 supports before an upside move. Bitcoin Price Analysis There was a solid…

US Judge Rules to Bring Alleged Cryptocurrency Scam Under CFTC Oversight

boss

A U.S. federal district judge has ruled that an allegedly fraudulent crypto token meets the definition of a commodity, bringing the case under regulators’ purview, Finance Feeds reports September 27. Judge Rya W. Zobel of the Massachusetts District Court ruled Sept. 25 against a motion to dismiss a case that had been launched by the Commodity Futures Trading Commission (CFTC) against an allegedly fraudulent crypto scheme known as “My Big Coin Pay Inc.,” reported to have been based in the state of Nevada. The CFTC had sued tech entrepreneur Randall…

Crypto Market Eyes Rebound at $115 Billion, Short-Term Rally Unlikely

boss

Over the past 24 hours, Bitcoin Cash initiated a 20 percent rally fueled by the initial public offering (IPO) of Bitmain but the rest of the crypto market remained relatively stable at a low price range. The valuation of the cryptocurrency market has maintained its position in the $114 to $115 billion range, as Bitcoin and ETH, the native cryptocurrency of Ethereum, both recorded a slight increase in price of 0.5 percent. Is a Short-Term Rally Next? Crypto Dog, a respected technical analyst in the cryptocurrency community, stated that if…

Ripple Price Analysis: XRP/USD Remains Supported Near $0.4920

boss

Key Highlights Ripple price struggled to move above the $0.5700-0.5750 resistance area against the US dollar. There is a major bearish trend line formed with resistance at $0.5700 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could find a strong buying interest near the $0.5080 and $0.4920 levels in the near term. Ripple price remains supported on dips against the US Dollar and Bitcoin. XRP/USD could test $0.5000 and $0.4920 where buyers are likely to emerge. Ripple Price Analysis There was an upward move…

Trader Shorted Bitcoin to $5,950 on CNBC, Now $6,500

boss

Scott Nations, the president and chief investment officer of NationsShares, a division of Fortress Trading, shorted Bitcoin through the Cboe futures market live on CNBC on September 26. Since then, the price of Bitcoin has slightly increased to $6,500. “I want to be a seller of the October contract. The Cboe Bitcoin futures, that is a single Bitcoin in a futures contract. My targeted downside is $5,950 and my stop to the upside is $6,600. Why do I want to short? Because it is Bitcoin. It has no fundamental value.…