Day: November 20, 2018

Singapore’s Central Bank Finalizes Regulatory Framework for Crypto Payment Services

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The Monetary Authority of Singapore (MAS), the country’s central bank, has broadened its regulatory regime for payment providers to bring certain cryptocurrencies under its jurisdiction. The development was reported by English-language local broadsheet The Straits Times Nov. 19. The new Payment Services Bill (PSB), submitted by MAS board member and education minister Ong Ye Kung before parliament, is set to replace two existing pieces of legislation, the Payment Systems (Oversight) Act (PS(O)A) and the Money-Changing and Remittance Businesses Act (MCRBA). The new bill, which has passed through two public consultations…

Ethereum Classic Price Analysis: ETC/USD Sellers Next Target $5.00

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Key Highlights Ethereum classic price tumbled recently below the $7.00 and $6.00 supports against the US dollar. There is a short term bearish trend line formed with resistance at $6.00 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is likely to extend the current decline towards the $5.20 and $5.00 support levels. Ethereum classic price fell significantly against the US Dollar and Bitcoin. ETC/USD could continue to move down below $5.50 to test $5.00. Ethereum Classic Price Analysis After dropping to the $7.00 level,…

Crypto Market Suffers From Large Sell-Off

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Twitter Facebook LinkedIn Over the past 24 hours, another $25 billion has been wiped out of the crypto market as major digital assets fell sharply in value. Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Stellar (XLM) recorded a loss of 14 percent, 14.5 percent, 45 percent, and 10 percent respectively, demonstrating a large decline in both volume and momentum. Bitcoin Cash Dropping More Than Any Asset As expected, Bitcoin Cash SV, a hard forked cryptocurrency created by the Craig Wright, Coingeek, and Calvin Ayre camp, fell from $170 to…

Ripple Price Analysis: XRP/USD Outperforms Bitcoin And Ethereum

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Key Highlights Ripple price is holding the $0.4600 support area with no bearish pressure against the US dollar. There is a short term bearish trend line formed with resistance at $0.4850 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could retest the $0.4600 or $0.4520 support level before a fresh upward move. Ripple price is trading with a positive bias against the US Dollar and Bitcoin. XRP/USD did not decline more than 1% whereas BTC/USD and Ethereum fell more than 10%. Ripple Price Analysis…

Ethereum Price Analysis: ETH/USD Nosedives Below $150 Support

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Key Highlights ETH price failed to recover and declined below the $150 level declined against the US Dollar. There is a short term bearish trend line in place with resistance at $150 on the hourly chart of ETH/USD (data feed via Kraken). The pair traded to multi month low and it could continue to move down below $140. Ethereum price fell sharply against the US Dollar and bitcoin. ETH/USD broke the $150 support and it is currently consolidating losses. Ethereum Price Analysis Yesterday, we saw a major decline below $175…

Top 15 Crypto Kings [Infographic]

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Back when Satoshi Nakamoto first introduced the concept of decentralized and self-regulated money in 2009, many considered it an unrealistic idea that would die down after a short period of time. Well, as it turned out, this was not the case. Fast forward ten years after Bitcoin was created and cryptocurrencies have totally invaded popular culture while showing potential to completely disrupt the financial world as we know it. In the meantime, the value of cryptocurrencies literally skyrocketed, to no one’s surprise. Naturally, the rise in awareness and popularity led…

U.S. Authorities Sentence Bitcoin Criminal to 15 Months Imprisonment

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Joseph Kim, a 24-year old Phoenix, Arizona resident has been sentenced to one and half year in jail for defrauding his former employers, Consolidated Trading and friends over $1 million in bitcoin (BTC) and litecoin (LTC), using the funds for his personal enrichment, reported Finance Magnates on November 18, 2018. Another Bad Actor Goes Down According to sources close to the matter, Joseph Kim, a 24-year old former assistant trader at Consolidated Trading, a Chicago-based firm that initially deals on currencies and commodities trading, has been sentenced to a 15-month…

Analyst “Incredibly Bearish” On Bitcoin (BTC), $1,000 Possible

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Regulators Will “Undoubtedly Burst Bitcoin, Crypto’s Balloon” After a multi-day bout of non-action, which followed Bitcoin (BTC)’s unexpected foray under $5,800 to establish a new year-to-date low, BTC and its altcoin brethren continued to sell-off into Monday. In a matter of hours, trading volume ramped up (yet again), with crypto investors rushing en-masse to liquidate their holdings. This, as you are likely aware of, catalyzed a further move lower, sending BTC under $5,000 in a frenzied move lower, even though short-term trend indicators pointed to the fact that the asset was drastically…

Bitcoin Cash Price Analysis: BCH/USD Tumbles, $220 Next?

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Key Points Bitcoin cash price declined heavily and traded below the $300 and $280 levels against the US Dollar. Yesterday’s highlighted key bearish trend line is intact with resistance at $315 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently trading near the $250 level and it could decline further towards $220. Bitcoin cash price is under heavy selling pressure against the US Dollar. BCH/USD could continue to move down and it may test the $220 level in the near term. Bitcoin Cash…

Crypto bull still believes Bitcoin can reach $15,000 by EOY

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Despite the current ongoing market slump that has seen Bitcoin break below $5,000, Crypto bull Thomas Lee still believes BTC will achieve $15,000 by the end of the year. Yesterday saw BTC break below $5,000 for the first time since October 2017. The ongoing market correction follows rumors that increased regulatory scrutiny will prompt issuers of ICOs to liquidate holdings. The crypto market has lost over $660 billion in market cap Yesterday BTC fell for an eighth consecutive day to mark the longest string of losses on record since its…