Day: November 17, 2018

Crypto’s Too Expensive? Binance Sent $600 Million in Bitcoin for Just $7

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Twitter Facebook LinkedIn Crypto exchange Binance has been moving bitcoin funds to cold storage the past couple of days, and, of course, such large transfers don’t go unnoticed. Two transactions destined for Binance’s cold wallet come to the fore and demonstrate both the power and irony of the blockchain. A transaction in block 550211 was a transfer of just over $1 million. For this transaction, Binance paid just over $8 in fees. The “high” amount of the fee is probably a matter of convenience, as the transaction was not particularly large…

Ripple Continues to Rebound, While Most Major Cryptocurrencies See Mild Wave of Red

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Saturday, Nov. 17: crypto markets have seen another mild decline, with losses across the top 20 coins by market cap reaching 4 percent over the past 24 hours. In contrast, Ripple (XRP), which is still holding strong as the second coin by market cap, continues to see sufficient gains as of press time, according to data from Coin360. Market visualization from Coin360 After seeing a small rebound yesterday, the largest cryptocurrency Bitcoin (BTC) is very slightly down over the past 24 hours. As of press time, Bitcoin is down less…

Bitcoin “Isn’t Boring”: Bloomberg Analyst Makes $1,500 BTC Call

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Crypto Investor On Bitcoin: “I Didn’t Sleep Well Last Night” “Bitcoin [is] no longer boring,” declared Bloomberg analysts/journalists Vildana Hajric and Olga Kharif in a recent piece on the crypto market. And, taking a look at the current state of cryptocurrency prices, it would appear that this is the case… unfortunately. As reported by Ethereum World News on multiple occasions in recent days, BTC fell hard on Wednesday, quickly moving under the levels of support at $6,000 and $5,800 due to a number of purported catalysts and an influx of…

Switzerland’s SIX Exchange, Amun To Launch Bitcoin, XRP, Ethereum ETP

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The Amun Crypto ETP — Bitcoin, XRP, Ethereum, Bitcoin Cash, Litecoin Included The so-called “SIX Swiss Exchange,” Switzerland’s foremost equity market, has just revealed that it will be giving a green light to the crypto industry’s first exchange-traded product (ETP) that tracks multiple cryptocurrencies (XRP included), Financial Times reports on Saturday. The product, dubbed the “Amun Crypto ETP,” is backed by Amun, a London-based financial technology firm. Jane Street and Flow Traders, two market makers, have revealed that they have provided the seed funding for the ETP. Interestingly, unlike other…

96 Percent of Companies That Exist Today Will Fail in 10 Years

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Anyone involved in marketing knows the adage as old as advertising itself: “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” The reality may be worse though – not just a half, but an absolute majority of marketing budgets is wasted on customers that don’t generate enough profitability, says Peter Fader of the Wharton school of economics at the University of Pennsylvania. The rise of big data and analytics technology promises to change that situation. Today, decision-makers are increasingly able to tell…

‘Bitcoin’s No Longer Boring,’ Price Heading Towards $1.5K, Say Bloomberg Analysts

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Analysts at Bloomberg Intelligence predict that Bitcoin (BTC) “has further to fall,” Bloomberg reported Nov. 16. “Bitcoin’s no longer boring” declares Bloomberg, before stating that analysts predict the price could fall as low as the $1,500 point, a further 70 percent drop in the coin’s price. Bloomberg cites hedge fund founder Travis Kling saying that he “didn’t sleep well” because of the potential turmoil in wider crypto markets due to the recent Bitcoin Cash hard fork: “There’s a small chance that, it’s difficult to estimate, that something really bad could…

The recent crypto market dip opened investors to safer options

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In mid this week, the cryptocurrency market spiraled to new 2018 lows wiping approximately 30 billion U.S dollars along the way. This crypto market dip opened investors to safer options in the market. With Bitcoin and most other digital currencies dropping in price, coins pegged to the United States dollar saw an increase in market capitalization and a surge in their trading volumes within 24 hours. Some even witnessed an increase in trading volume of up to 400 percent. Surprisingly, Tether was not among the most traded stable value coins…

Fundstrat’s Tom Lee Predicts Bitcoin Recovery, But Lowers End-Year Target to $15K

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Wall Street analyst and cryptocurrency bull Tom Lee has nearly cut his end-year Bitcoin (BTC) price target in half from $25,000 to $15,000, CNBC reported Nov. 16. According to Lee – the co-founder of market advisory firm Fundstrat Global Advisors – the key factor behind his new target is Bitcoin’s “break-even point,” or the level at which the cost to mine Bitcoin matches its trading price, as CNBC reports. According to Fundstrat’s data, this point is at around $7,000. Bitcoin is currently trading well below this value – $5,550 at…

Bloodshed Continues As Crypto Market Weakness Persists

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Bloodshed Continues As Crypto Market Weakness Persists November 17, 2018 by Paul de Havilland Bloodshed continues in cryptocurrency, with the sell-off triggered on November 14th, 2018, sparking persistent crypto market weakness. At press time, most major currencies continued their slide, dragging the total market cap down to around $182 billion USD, per CoinBillboard. Also see: Perry Farrell Talks About Kind Heaven, a Mythical and Immersive Arts Experience Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Pace of Decline Slows, But Market Remains Weak The November 14th flash…

How Stable Could Russian National Stablecoin Be?

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On November 7, the chairman of Russia’s State Duma Committee on Financial Markets announced details of the “CryptoRuble,” a long-discussed government cryptocurrency project.   Specifically, the official said that a state-backed stablecoin would be a complete equivalent to the Russian fiat ruble, but in a digital space. Russian authorities have now ended up with this concept after years of contradicting statements, and still, a ruble-pegged stablecoin might not turn out stable in the end. Long and complex history of national cryptocurrency in Russia Russian national cryptocurrency was originally referred to…