Day: November 1, 2018

Bitcoin Price Intraday Analysis: BTC/USD Recovers amid Vulnerability

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Twitter Facebook Bitcoin on Thursday is trending inside a narrow trading channel, sustaining the 1 percent gain it made the previous day. The BTC/USD instrument is rebounding from the highs made during the Wednesday trading session, now 0.67 percent down at 6307-fiat. The high ticks in bitcoin’s volume index somewhat explain how new money has entered the bitcoin space in the past 24 hours. On the other hand, the US Dollar Index was on a downside corrective path on Wednesday, validating investors’ inclination towards redistributing their greenbacks back to markets…

Bitcoin ATM Operator Coinsource Gets New York Regulator’s Green Light With ‘Bitlicense’

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Bitcoin ATM operator Coinsource has been granted a virtual currency license, or ‘Bitlicense,’ from the New York State Department of Financial Services (NYDFS), according to a press release published Nov. 1. The regulator has thus given its formal seal of approval for New Yorkers to use cash to buy or sell Bitcoin (BTC) using Coinsource’s “Bitcoin Teller Machines (BTMs).” The Texas-based operator already deploys 40 such machines across the state – in New York City, Westchester and Nassau County – and is the first BTM operator to receive a NY…

Popular Ethereum DApp Browser MetaMask to Launch Mobile App Version

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The mobile app version of the currently most-downloaded Ethereum Chrome browser extension MetaMask was revealed during Ethereum’s annual Devcon conference Oct. 31, according a tweet from the CEO of ConsenSys Joseph Lubin. Lubin, whose New York-based Ethereum blockchain software firm and incubator ConsenSys has been working on MetaMask since 2016, stated in the tweet: “Everyone’s favorite Ethereum browser extension is coming to your phone. The team is focusing on not being ‘just a wallet,’ but a portal to the world of all things blockchain.” MetaMask, an extension available for Chrome,…

170,000 Shops Globally to Sell Bitcoin, Altcoins

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While the number of people who want to use Bitcoin or Ethereum for their daily purchases is growing, one of the most confusing aspects for beginners is still how to actually buy and sell crypto. Online peer-to-peer exchanges may look questionable or too complicated for some users. Purchasing altcoins may be even more complicated – in order to buy many of them, users have to purchase major cryptocurrencies first. Netcoins Inc. is one of the companies that aims to offer a solution for those who prefer to buy Bitcoin and…

Bitcoin Depot Launches Affiliate Program as Part of Cryptocurrency ATM Offering

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Photo: Bitcoin Depot / Twitter As the cryptocurrency industry progresses, cryptocurrency ATMs are beginning to surge in popularity thanks to their developing services and convenience of converting cash into crypto. Bitcoin Depot – a leading U.S. cryptocurrency ATM service – has launched an affiliate program for its leading multi-cryptocurrency ATM network to help onboard more users and generate growth in the sector. The Bitcoin Depot Affiliate Program Bitcoin Depot’s affiliate program allows new users to sign up and earn a $15 credit for each friend they refer to Bitcoin Depot.…

Controversial Stablecoin Tether Confirms New Banking Partner Deltec After Weeks of Rumors

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The issuer of cryptographic stablecoin Tether (USDT) announced it had found a new banking partner in a statement Nov. 1, confirming rumors it would use Bahamas-based Deltec Bank & Trust. Tether, which had suffered from mixed publicity after allegations it had parted ways with previous financial institution Noble Bank, also noted in the statement that its full money supply was backed by US dollars. “USDT in the market are fully backed by US dollars that are safely deposited in our bank accounts,” the statement reads. Despite the deal being de…

Crypto Analyst Ran NeuNer Retracts His Claim That Bitcoin Will Hit $50K in 2018

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Ran NeuNer, the host of CNBC’s CryptoTrader show, has rescinded his earlier prediction that Bitcoin (BTC) will reach $50,000 by the end of 2018, in a tweet Thursday, Nov. 1. NeuNer’s original prediction post from Feb.1, 2018 stated: “For the record, I am pinning this tweet. Bitcoin will finish 2018 at $50 000.” In his tweet today, the analyst stated the exact opposite of his original prediction, without providing an updated alternative price range: “For the record, I am pinning this tweet. Bitcoin will not finish 2018 at $50,000.” The…

Updated Morgan Stanley Report Hails Cryptocurrency as ‘New Institutional Investment Class’

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Bitcoin and altcoins has been a “new institutional investment class” since 2017, U.S. multinational investment bank and financial services company Morgan Stanley claims in a new report released Oct. 31. The document, titled “Bitcoin Decrypted: A Brief Teach-In and Implications,” sees the newly-bullish Morgan Stanley weigh in on the “surprising” developments in cryptocurrency that continue to the present day. According to its latest findings, the “surprises” to come from crypto in 2018 are a “strong” formation of new funds targeting the sector, as well as the “growth” of cryptocurrency-tied futures.…

Coinbase Token Attracts Capital But PAX Leads Trading

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Twitter Facebook It’s now been nearly two months since Winklevoss-led cryptocurrency exchange Gemini fired the first shot in the stablecoin wars through the launch of its USD-pegged crypto token, the eponymous Gemini Dollar. That same day, Paxos — like Gemini an NYDFS-regulated firm — made a similar announcement, and before long, crypto unicorns Circle and Coinbase revealed that they had partnered to co-issue a consortium-led, fiat-backed token, USD Coin. These three tokens, along with fellow “regulated” stablecoin TrueUSD (TUSD), which launched earlier in the year, have collectively attracted more than…

Morgan Stanley Is Still Struggling to Understand Bitcoin

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Like many late arrivals to cryptocurrency, Morgan Stanley doesn’t quite know what to make of bitcoin. The investment bank understands money, unless that money is peer-to-peer digital cash, in which case it struggles. Its latest report into the cryptocurrency ecosystem reveals its shifting stance on bitcoin. Also read: Bitcoin.com Store Now Offers Hundreds of Top-Branded Gift Cards Morgan Stanley’s ‘Morphing Thesis’Is Code for ‘We Were Wrong’ Investment banks, while less risk-averse than their central banking peers, still take a conservative stance on cryptocurrencies. It’s only now, a decade on from Bitcoin’s…