Month: September 2018

Bitcoin Cash Price Weekly Analysis: BCH/USD Sighting Further Upsides

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Key Points Bitcoin cash price gained traction and moved above the $500 barrier against the US Dollar. There is a key contracting triangle in place with support near $510 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair is likely to break higher towards the $575 and $600 levels in the near term. Bitcoin cash price is trading in a bullish zone above $500 against the US Dollar. BCH/USD may continue to find buyers on the downside near $500 and $480. Bitcoin Cash Price Decline…

Bitcoin is Reversing, 2 Catalysts Will Drive it Higher in 2018

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Throughout 2018, Bitcoin has continued to record lower highs, testing major resistance levels at $10,000, $8,000 and $7,000. According to Fundstrat’s Tom Lee, the stability of Bitcoin at $6,000 regardless of its lower highs is optimistic. In early 2018, Fundstrat emphasized in a report that the $6,000 level will likely be held by Bitcoin in the mid-term because it is the breakeven point for miners. That means, miners that utilize electricity and mining equipment to verify transactions on the Bitcoin network can still generate some profit if the price of…

U.S SEC File Charges against Bitcoin-linked Firm, 1pool Ltd and its Founders

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The United States Securities and Exchange Commission (SEC) has filed charges against 1pool Ltd, a securities dealer registered in the Republic of the Marshall Islands and its founders for allegedly selling unregistered security-based swaps to U.S residents, according to statements from the commission on September 27, 2018. SEC Crushes another Bitcoin-based Business According to an SEC statement, international securities dealer registered in the Republic of the Marshall Islands, 1pool Ltd. and its Austria-based chief executive Patrick Brunner, have violated the U.S securities laws by selling security-based swaps to U.S investors…

Arrests Making Headlines Across the Globe

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Gone are the days when shady dealings in crypto were perceived as immune to the clutches of law enforcement. Illicit crypto proceeds can be shuttled between wallet addresses at the click of a mouse, and their obfuscation behind the multiple strings of numbers and letters of wallet addresses can create a dizzying — if not impenetrable — cryptographic maze for authorities to navigate. But the criminals themselves present a more concrete target, and as they interface with everything from crafty code to unwieldy hardware to ‘traditional’ firearms, there has been…

New Pos by Pundix Allows Nigerians to Make Payments in Bitcoin

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Indonesian cryptocurrency and payments company Pundix has introduced a point of sale terminal at a shop in Nigeria, allowing people in the West African country to make purchases using cryptocurrency, including bitcoin. The move is seen as key to scaling up cryptocurrency adoption and development in Africa’s biggest bitcoin market. Also read: Payments Platform Wirex Launches Iban For Spanish and French Users, Doubles Account Limits Payments Go Crypto With ‘a First for Africa’, in Nigeria, by Pundix A Nigerian importer and distributor of agriculture products has installed a point of sale…

Fidelity Expressing Further Interest in the Cryptocurrency and Blockchain Industry

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Fidelity Investments is a 72-year company with more than $7 trillion in investor’s funds under management, and despite their well-established position within the traditional retail markets, they are incredibly open to nascent technologies, like cryptocurrency and blockchain. Fidelity’s openness to blossoming new technologies is setting themselves into a unique niche. In certain ways, it is making itself as much of a technology company as they are a finance company, positioning themselves to compete with Silicon Valley giants like Google and Nvidia. Fidelity Has a Long History of Interest in Revolutionary…

Bitcoin Price Rally Inbound in Q1 2019

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Perennial bitcoin bull Mike Novogratz, founder and CEO of Galaxy Digital, claims bitcoin is positioned for major growth now that institutions are investing in it and big compananies are starting to accept it. Novogratz told CNNMoney’s “Markets Now” that big companies like Microsoft and Starbucks are allowing customers to use bitcoin and that, in the short term, more institutions will invest for fear of missing out (FOMO). Novogratz, a former principal at Fortress Investment Group, last week said bitcoin would post a 30 percent increase by the end of the year…

SEC, CFTC, FBI Take Action Against Bitcoin-Funded Securities Dealer 1Broker

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Three U.S. agencies have taken action against international bitcoin-funded securities dealer 1pool Ltd., aka 1Broker. The Securities and Exchange Commission (SEC) says 1Broker violated federal securities laws. The Commodity Futures Trading Commission (CFTC) says it violated the Commodity Exchange Act. Meanwhile, the company says it is working on letting customers withdraw their funds. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals SEC’s Action The SEC announced Thursday that it has filed charges against Marshall Islands-registered 1pool Ltd., aka 1Broker, and its Austria-based CEO, Patrick Brunner, “for allegedly…

Ripple Leads Crypto Coalition Seeking Gov’t Oversight Encouraging Crypto, Blockchain

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Ripple will lead a group of crypto startups to lobby lawmakers and financial regulators in D.C. to support crypto and blockchain innovation, Bloomberg reported on Thursday, September 27. According to the report, the coalition of San-Francisco-based crypto firms is planning to pay Klein/Johnson Group, a bipartisan lobby group, to assist the crypto and blockchain community in conveying to regulators that the industry needs support from the government. The new group, called the Securing America’s Internet of Value Coalition, aims to soften the government’s stance in order to encourage innovation and…

Leading Analyst: $6,000 Is Key For Bitcoin (BTC), Momentum Is Reversing

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Despite Lower Highs, Bitcoin May Be Bottoming On Friday, Tom Lee, who recently revealed that he expects for Ethereum to eclipse $1,900 by year’s end, made an appearance on Bloomberg to discuss Ethereum’s cousin or near relative, so to speak. Opening the cryptocurrency segment, the Bloomberg host, highlighting the fact that Bitcoin has found some support in the $6,000 range, asked Lee what Bitcoin’s current price level indicates. Lee, who is currently Fundstrat Global Advisor’s head of research and its in-house cryptocurrency advocate, first jokingly pointed out that Bitcoin’s lack…