Day: October 3, 2018

Stellar Lumens and Litecoin Stabilizing the Altcoin Ship

boss

In the last day, altcoin prices were stable. Gains or losses were within a one percent range as sellers begin to clip back gains. The fact that there is failure by Cardano and EOS bulls to close above key resistance lines at 12 cents and $7 backs our bearish forecast. On the other hand, Litecoin and Stellar Lumens prices continue to trend inside Sep 27 and 23 bull bars underlining our upbeat stand. Let’s have a look at these charts: EOS Price Analysis At the face of block producer corruption,…

Bitcoin Investment Trust Shares Down 80 Percent, Investors Cite Low Prices, High Fees

boss

The “lone” Bitcoin (BTC) investment trust in the U.S., Grayscale Bitcoin Investment Trust (GBTC),  has seen its net asset value hit the lowest point since the BTC price surge of 2017, Bloomberg reported October 2. Grayscale Investments Inc., the company behind GBTC, reportedly has $1.5 billion in assets under management, and is one of the largest cryptocurrency asset managers in the world. GBTC is an open-ended grantor trust, the purpose of which is to track BTC market price. According to Bloomberg, shares of GBTC have dropped by around 80 percent…

Coinbase Valued at $8 Billion Following Hedge Fund Investment: Report

boss

Tiger Global, a U.K. hedge fund that invests mainly in global consumer brands, is reportedly considering a $500 million investment in Coinbase, which would boost the startup’s valuation close to $8 billion and strengthen the cryptocurrency market’s legitimacy, according to sources that spoke to Recode. The investment would make Coinbase one of the highest valued U.S. startups. The investment in part would buy out existing shareholders, although the specific numbers have not been determined. Valuation More Than Quadrupling Last summer, Coinbase was valued at close to $1.5 billion. The valuation…