Bitcoin Volume Approaching Yearly Low Once Again, Market Bear Biased

Earlier today, on October 14, the price of Bitcoin experienced an abrupt increase from $6,300 to $6,410 within minutes. The unexpected rise in the Bitcoin price led traders to be optimistic about the short-term trend of the crypto market, as analysts previously stated that for the dominant cryptocurrency to demonstrate signs of recovery, it will need to first rebound to the range of $6,350 to $6,400. However, in the past 12 hours, the price of Bitcoin fell back to $6,300, falling below the $6,300 mark to around $6,220. Tether-Enabled Exchanges…

Hacker Livestreams 51% Attack on Bitcoin Private

On Oct. 13, ethical hacker “Geocold” followed through on his promise to 51 percent attack an altcoin. He eventually settled on Bitcoin Private (BTCP), and quickly gained majority hashrate control, but the spectacle was fraught with setbacks, including censorship from two streaming services that pulled the plug. Also read: Mischief-Maker Promises to Livestream a 51% Altcoin Attack Censorship, Denial of Service and Revenge Attacks – and That Was Just for Starters Geocold promised he would 51 percent attack an altcoin to prove how easy it was, and he did, but…

Bitcoin Fully Bottomed Out at $6k? Bears Struggle to Justify Stability

The question of whether Bitcoin has bottomed already has again surfaced following the latest drop in the digital currency price. Bears have no explanation as to why BTC has been holding this price for so long… as if it were forming a floor. Those bullish can explain this – BTC has fully corrected… and equal to the previous corrections of 0.236 [23% in real value]. pic.twitter.com/8brzXRxBsJ — dave the wave (@davthewave) October 13, 2018 The BTC/USD pair last week fell 7 percent to near 6222 after pursuing a sideways consolidation…

Not So Safe Haven? Signs Suggest Bitcoin Might Still Be a Risk Asset

Volatile price swings and plummeting valuations have been a reality for bitcoin investors of late, but those who own traditional equities haven’t been immune either. In fact, bitcoin and the S&P have correlated on and off for almost a year, each taking turns as the leading indicator. Bitcoin, the cryptocurrency advertised as digital gold due to its difficult means of production and limited supply, is expected by some to act as a “safe haven asset,” one that rises or remains stable in times of economic turmoil (just as its metal…

Crypto Week In Review: Coinbase Drops Index Fund, “Dr.Doom” Bashes Crypto

Despite Nouriel “Dr.Doom” Roubini’s cries that the crypto market is on its last legs, this week’s crypto- and blockchain-pertinent developments indicate that this industry is still booming. Nouriel “Dr.Doom” Roubini Takes To Twitter, US Senate To Bash Crypto Dr.Nouriel Roubini, one of NYU Stern’s economics professors, recently bashed the cryptocurrency and blockchain world through a series of scalding comments and rants. Speaking in front of the U.S. Senate Committee on Banking, Housing, and Community Affairs, Roubini, dubbed “Dr.Doom” by some, made a series of comments against cryptocurrencies. From calling Bitcoin…

Crypto Reckoning? Industry Vets Strike Humble Tone in San Francisco

Many at San Francisco Blockchain Week 2018 are warily reflecting on the lessons of the 2017 token sale boom, the pride that came before this current bear market fall. Veteran investor and AngelList co-founder Naval Ravikant told conference goers on Monday the last “hype cycle” was a “coming of age” for many cryptocurrencies such as ethereum, the second largest crypto by market cap. “We almost got Wall Street completely involved, but we didn’t quite get there,” Ravikant said, adding that although some of the world’s leading financial institutions are tiptoeing…

Study Argues Chinese Mining Centralization Threatens Bitcoin Network

A joint study conducted by Princeton University and Florida International University has found three-quarters of Bitcoin mining is based in China and warned of the potential risks that could result from the significant geographical centralization of the mining network. Also Read: Worst Cryptocurrencies of 2018 Have Left Some Heavy Bagholders  Researchers Argue China is the “Most Powerful Adversary to Bitcoin” The study, titled “The Looming Threat of China: An Analysis of Chinese Influence on Bitcoin,” seeks to “explore how China threatens the security, stability, and viability of Bitcoin through its dominant…

BCH Devcon Streamlines Bitcoin Innovation in San Francisco

Last week, on Oct. 10-11, Bitcoin Cash developers gathered in San Francisco for the first of many BCH Devcons hosted by Bitmain’s blockchain development fund Permissionless Ventures. A slew of teams participated in the three-day hackathon resulting in two big winners who took home 15 BCH worth of winning prizes. Also read: Russian Crypto Groups in Telegram Increase Membership Despite Ban Three Days of Bitcoin Cash Development and Innovation San Francisco hosted the first BCH-centric developer hackathon hosted by Permissionless Ventures. Fifteen teams gathered to the city for the BCH…

The European Blockchain Partnership Finds Europe Getting Serious About Distributed Ledger Technology

On April 10, 2018, 21 EU member states and Norway signed up to create the European Blockchain Partnership. Including the UK, France, Germany, Sweden, the Netherlands and Ireland, they committed themselves to “cooperate in the establishment of a European Blockchain Services Infrastructure (EBSI) that will support the delivery of cross-border digital public services, with the highest standards of security and privacy.” Since April, a further five nations have joined the Partnership, with Italy becoming the latest to do so after it signed the Partnership’s Declaration in September. As a member,…

Bitcoin Price Weekly Analysis: BTC/USD Could Test $6,390 Before Lower

Key Points Bitcoin price found support near the $6,100 level and corrected higher against the US Dollar. There is a major bearish trend line in place with resistance at $6,325 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair must break the $6,325 and $6,390 resistance levels to move into a positive zone. Bitcoin price is currently correcting higher against the US Dollar. BTC/USD is likely to face a strong selling interest near the $6,380-6,390 resistance area. Bitcoin Price Analysis This past week, bitcoin price…