Day: October 11, 2018

Bitcoin Price Intraday Analysis: BTC/USD Bottom in Sight

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The Bitcoin-to-USD exchange rate is trading lower on Thursday, on track to restest its bottom area below 6000-fiat. The pair is trading down 5.05 percent to 6195-fiat, after recovering from its intraday low near 6045-fiat, after spending two weeks in a sideways consolidation range, awaiting breakout. Bitcoin’s inability to breach through a medium-term descending trendline, coupled with International Monetary Fund’s negative stance on digital currencies, could have attributed to the losses. So far, Bitcoin price action is still in sync with its medium-term descending triangle, which is getting the status of…

Coinbase Adds Its First Ethereum Token to Professional Trading Platform

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Crypto exchange Coinbase just added the 0x protocol token to its professional trading platform, Coinbase Pro. Announced Thursday, the exchange said in a blog post that it had begun accepting deposits for ZRX, and would enable trading around 5:00 A.M. UTC, or after at least 12 hours after the initial announcement. The move represents the first time the platform has added support for an ERC-20 token that runs on the ethereum network. “Once sufficient liquidity is established, trading will begin on the ZRX/USD, ZRX/EUR and ZRX/BTC order books. ZRX trading…

Traders Expected Bitcoin to Rise as Stock Market Fell, What Went Wrong?

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The sudden plunge in the price of Bitcoin has demonstrated that while it lacks correlation with the broader financial market, it is not inversely correlated with the global market. Bitcoin and major cryptocurrencies are considered as a robust store of value for investors to hedge against the broader financial market because of its lack of correlation with equities, stocks, currencies, and bonds. Lack of Correlation is not Inverse Correlation In an interview, Matt Hougan, the vice president of research and development at Bitwise Asset Management, stated that the fundamental drivers…

Nearly $1 Billion Stolen In Crypto Hacks So Far This Year: Research

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The losses related to crypto hacks continue to rise sharply, with nearly $1 billion stolen so far this year, new research suggests. In the first nine months of 2018, hackers stole $927 million from the cryptocurrency exchanges and other platforms, according to a recent report from blockchain security firm CipherTrace. The document, titled “Cryptocurrency Anti-Money Laundering 2018 Q3,” indicates the losses are 3.5 times higher than the levels seen in 2017, which came to $266 million. CipherTrace estimates the total figure will reach over $1 billion by the end of 2018.…

Crypto Markets Shed Almost $20 Billion as Major Coins See Double-Digit Losses

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Thursday, Oct. 11: markets have taken a steep downturn, even as onlookers had lately been pointing to a period of stable price action in the crypto sphere. Virtually all of the top 100 cryptocurrencies are in the red, with several top-market altcoins losing double-digits in percentage value. Market visualization by Coin360 Bitcoin (BTC) has shed 4 percent in value on the day, and is trading at $6,309 as of press time. Ater a strong week trading sideways to consolidate a higher price point – trading as high as almost $6,670…

A bright online gambling future for bitcoin and other cryptocurrencies

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The combination of gambling and cryptocurrencies The Benefits that cryptocurrencies bring to society can no longer go unnoticed, which is why Poker Networks has become one of the organizations that have benefited greatly from supporting this new form of money through the past few years. The fact that you can now play a game and get paid for it, is a revolutionary idea in itself. This is why Winning Poker Networks and Bitcoin have been doing really well these past few years. There are numerous online betting and gambling sites…

Crypto Market Loses Nearly $16 Billion amid DJI and Nasdaq Slump

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All top ten cryptocurrencies and stocks from Dow Jones, S&P 500 and Nasdaq, are in the red on Thursday. A Deadly Crypto Dive The price of significant cryptocurrencies dived with nearly $16 billion of value being swept out in a matter of three hours. Source: CoinGecko At the time of this writing, Bitcoin had dropped 4 percent to $6,294, while Ethereum and EOS dived over 10 and 8 percent, respectively, according to the data on CoinGecko. XRP and Tron, which had an overall bullish September, too fell drastically – by…

The Daily: Whales Join China’s Richest Ranks, Seniors Take a Swing at Bitcoin

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In today’s edition of The Daily, we look at the cryptocurrency entrepreneurs who now rank among the richest people in China, the limited return to operations of 1Broker, and a rather amusing attempt to explain Bitcoin to older folks by the AARP. Also Read: London’s LBX Launches Solution for Bank-Shunned Crypto Companies China’s Wealthiest Whales The Hurun China Rich List 2018, the Chinese answer to the Forbes 400, was released on Wednesday and for the first time includes a total of 14 people working in the cryptocurrency space. This is…

Crypto Exchange Bitfinex Suspends Fiat Deposits, Expects to Resume ‘Within a Week’

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Major crypto exchange Bitfinex has temporarily suspended all fiat wire deposits for the Euro, U.S. Dollar, Japanese Yen and Pound Sterling. This is according to several reports today, Oct. 11. While the exchange has not specified a reason for the suspension, it states that deposits are “expected to resume within a week.” As reported Oct. 8, the exchange has recently been prompted to officially respond to online rumours that claimed Bitfinex was insolvent and/or facing banking issues. As part of its recent statement, the exchange acknowledged that “complications continue to…

Crypto Exchange Huobi’s ‘Strategic Partner’ HBUS Hires Ex-PWC and Intuit Compliance Director as CCO

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HBUS, the U.S.-based “strategic partner” of sixth largest crypto exchange Huobi, has hired a new Chief Compliance Officer (CCO). The company has revealed this in a press release shared with Cointelegraph Oct. 11. The new CCO, Megan Monroe-Coleman, was formerly MTL Compliance Officer at U.S. software giant Intuit, following the company’s acquisition of financial software firm Mint, where Monroe-Coleman had also served as a compliance officer. Before her work at Intuit, she worked over seven years at “Big Four” auditor PricewaterhouseCoopers (PwC), five years of which she spent as compliance…