Month: October 2018

Bitcoin Price Analysis: Weekly Consolidation Hints Toward Sustained …

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Another week has passed as bitcoin continues to coil in a tighter and tighter consolidation. Both price and volume continue to consolidate as bitcoin decides where the next major move will be. A trend of higher lows and lower highs shows a balance of both supply and demand, but ultimately one will win out: Figure 1: BTC-USD, Daily Candles, Macro Consolidation To gain a perspective of *just* how tightly wound the market is, a great tool analysts often use are Bollinger Bands (bbands). Bbands are a visual representation of forecasted…

Is Bitcoin Mining Causing Too Much Global Warming? The Debate Is HOT

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While Bitcoin remains at the top of the charts as the most popular and largest cryptocurrency by market cap, a recent study by some scientists doesn’t paint it as exactly cool. The study argues that Bitcoin mining could actually cause global warming to increase by 2 degrees (2C). On the other hand, a group of other scientists don’t think the mining of the valuable crypto is as dangerous as portrayed by the study. Could Bitcoin Mining Lead To A Bad Place? – The “YES” Party According to the said study…

Bitstamp Is Looking Towards ‘Global Expansion’ After Being Acquired by South Korean Investors

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On October 29, the cryptocurrency exchange, Bitstamp, was acquired by Belgium-based investment firm NXMH, which in turn, is owned by South Korean media conglomerate NXC Corp. The Luxembourg-registered exchange is now controlled by the same company that bought the majority stake in the South Korean crypto exchange, Korbit, last year, while its CEO remains in office to continue with Bitstamp’s “global expansion.” Brief history of Bitstamp, Europe’s oldest and most legally compliant crypto exchange Bitstamp was launched in August 2011 by Nejc Kodrič and Damijan Merlak in their native Slovenia.…

Microsoft to Integrate Blockchain Offering Into Nasdaq Services Following New Partnership

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American software corporation Microsoft will integrate its Azure Blockchain technology into stock exchange Nasdaq Inc.’s Financial Framework (NFF), according to an Oct. 30 press release. Per the recent announcement, Microsoft will integrate its Azure blockchain service with NFF, a technology which provides software for trading infrastructure and operations outsourcing, and fulfills Nasdaq’s risk and surveillance technology offering. Within the collaboration, the parties will reportedly develop a “ledger agnostic blockchain capability” that will allow for operability across multiple ledgers. The new product will purportedly facilitate easier buyer and seller matching, management…

Bitcoin Price Intraday Analysis: BTC/USD Expecting More Losses

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Bitcoin on Tuesday remained calmer compared to the action noted at the beginning of this week. The bitcoin-to-dollar exchange rate moved sideways above its newfound support at 6212-fiat as volume dipped once again. The pair is now more than a percent down from its yesterday’s high at 6288-fiat, trading at 6211-fiat at this moment. The sideways action is not yielding any intraday opportunity but is further intensifying the current bearish bias. There is a lack of upside correction sentiment in the bitcoin market. One could expect the BTC/USD pair to…

Ripple Exec Claims XRP is ‘Bitcoin 2.0’

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Ripple’s New Chief Market Strategiest, Cory Johnson, is certainly a known quantity in the traditional financial world. He co-founded TheStreet.com with CNBC’s Jim Cramer – that guy who’s always freaking out over charts and events on Wall Street – and worked with a number of different start-ups over the years before eventually finding himself at Bloomberg. Before all that, though, he was a cab driver in New York City, an occupation that makes around $35-50,000 per year, depending on a lot of things, not including tips. In a recent podcast…

Slight Slump in Markets Continues, Ethereum Trades Below $200

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Tuesday, Oct. 30: Crypto markets are mostly trading sideways after the recent drop-off that took place on Monday, Oct. 29. The top 20 cryptocurrencies by market cap are seeing mixed signals with insufficient fluctuations, with total market capitalization hovering around $203 billion. Market visualization from Coin360 After dipping below the $6,400 threshold yesterday, Bitcoin (BTC) has been trading around $6,330 for the most part of the day. As of press time, the major cryptocurrency is slightly down 0.13 percent, and is trading at $6,299, with an intraday high of $6,364.…

Data Shows Millions Leaving Crypto Wallets Tied to Long-Troubled Exchange

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The world’s largest cryptocurrency exchange Binance has frozen accounts that received more than 93,000 ether from two wallets indirectly linked to the troubled Russian exchange WEX. The accounts were frozen on October 25, Leah Li, a spokeswoman for Binance, told CoinDesk. The action was taken in response to pleas from WEX users who have been watching the ethereum blockchain, the known location of a public wallet belonging to the WEX exchange, uneasily in recent months while they have been unable to withdraw their funds off the exchange. These users traced…

Crypto Exchange Service Helps Bithumb Recover 1 Million XRP After Massive June Hack

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Prague-based crypto exchange service Changelly has announced that it helped South Korean exchange platform Bithumb recover 1,063,500 Ripple (XRP) in stolen assets following a massive hack in June, a press-release stated, Oct. 26.    In June 2018, hackers attacked South Korea’s leading crypto exchange Bithumb. As soon as security specialists had detected the theft, the exchange temporarily suspended all deposits and withdrawals, and moved its customers’ funds to a cold wallet. Bithumb initially lost over $30 million worth of cryptocurrencies due to the hack. Four months after the incident, Bithumb…

A Korean court accuses a major bank of breach of contract against a crypto exchange

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The Seoul District Court has today accused Nonghyup, a major bank, of breach of contract against a crypto exchange after the bank abruptly prohibited the exchange from getting deposit and withdrawal services. Nonghyup, a leading commercial bank in South Korea, terminated, without consultation, the banking privileges enjoyed by Coinis, a cryptocurrency exchange in the country. The decision by the bank made Coinis unable to handle withdrawals and deposits. The exchange went to the Seoul District Court to protest the decision and hopefully regain its partnership with the bank. The court…