Day: November 16, 2018

Bitcoin Price Decline Will be a Short-Term Event

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Twitter Facebook LinkedIn For the first time in three months, Bitcoin initiated its first major move. Unfortunately, for investors in the crypto market, BTC plunged by more than 11 percent, engaging in one of the most intense sell-offs in a 24-hour period in all of 2018. Bitcoin Price Tumbles BTC/USD | Coinbase On CNBC Fast Money, BKCM founder and CEO Brian Kelly stated that the recent drop of BTC and the rest of the crypto market could be mainly attributed to the civil war of Bitcoin Cash (BCH), wherein two…

Application for Chinese Crypto Miner Canaan’s $400 Mln IPO Lapses

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Cryptocurrency mining equipment producer Canaan’s Initial Public Offering (IPO) application has lapsed, Reuters reported Nov. 15. The offering was set to take place on the Hong Kong Stock Exchange (HKEX). Founded in 2013 in China, Canaan manufactures application-specific integrated circuits (ASICs) for digital currency mining. Canaan is the world’s second largest cryptocurrency hardware maker, collecting a revenue of 1.3 billion yuan ($187 million) in 2017. The company’s profit in the same year was 361 million yuan ($52 million), which is a 230 times increase from 2015, per business news outlet…