Day: November 24, 2018

Below $4k: Bitcoin’s Price Drops to a 420-Day Low

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The price of bitcoin fell below $4,000 for the first time today since September 27th of last year. At around 16:20 UTC Saturday, the world’s largest cryptocurrency by market capitalization sank to an average price across exchanges of $3,970.43, a figure 7.5 percent lower than the day’s opening price of $4,298.83, according to Coindesk’s Bitcoin Price Index.  At $3,745.89 as of press time, BTC’s price is now down more than $1,700, or 30 percent, in the past seven days alone and 81 percent from its all-time high of roughly $20,000,…

Below $4k: Bitcoin’s Price Drops to a 420-Day Low

boss

The price of bitcoin fell below $4,000 for the first time today since September 27th of last year. At around 16:20 UTC Saturday, the world’s largest cryptocurrency by market capitalization sank to an average price across exchanges of $3,970.43, a figure 7.5 percent lower than the day’s opening price of $4,298.83, according to Coindesk’s Bitcoin Price Index.  At $3,745.89 as of press time, BTC’s price is now down more than $1,700, or 30 percent, in the past seven days alone and 81 percent from its all-time high of roughly $20,000,…

XEM, Ripple, EOS, Bitcoin, IOTA

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. At the start of the year, the total market capitalization of cryptocurrencies was above $828 billion and many expected it to touch $1 trillion. However, after the hype of last year, the current bear market has been bone-crushing with no end in sight.…

Tether Refutes Bloomberg, Reassures Investors Crypto Isn’t Manipulated

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Twitter Facebook LinkedIn Leonardo Real, the chief compliance officer of Tether LLC, believes an organized campaign established by many publications is targeting crypto token Tether (USDT) and its partner banks. In an interview with Cryptonews, the Tether executive reaffirmed that its stablecoin known as USDT is fully backed by the US dollar, citing the attestation reports released by Friedman LLP and Freeh Sporkin & Sullivan, two US-based accounting firms based in New York and Washington. Crypto is Not Manipulated Throughout the past six months, Bloomberg and independent researchers have reported…

Breaking: Bitcoin (BTC) Falls Under $4,000, Bottom Calls Ramp Up

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BItcoin (BTC) Falls Under $4,000 Support On A Dime After days of stagnating at the $4,200 price level, on Saturday afternoon (EST), Bitcoin (BTC) suddenly fell under $4,000, a highly-touted level of support for the cryptosphere’s foremost asset. It wasn’t clear why this bout of selling pressure occurred, but within minutes, sell-side orders pushed BTC (on Coinbase) under $4,200, then $4,100, then $4,000, all the way to $3,800, where the digital asset is situated at the time of writing. Although this is worrying, in the short-term, it seems that a…

No, Governments Can’t do a Better Job Developing Crypto

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Would a state-backed cryptocurrency be better than its decentralized counterpart? International media has already rolled out their opinions on the matter. It’s a YES-IT-CAN. The opinions find their inspirations in comments made by Christine Lagarde last week. The head of the International Monetary Fund (IMF) said that a government-backed cryptocurrency would eliminate the issues of trust that have clogged the decentralized cryptocurrencies like Bitcoin. New York Times reacted to the IMF chief’s remarks, calling it “a hopeful sign for digital tokens,” while predicting it could “have a chilling effect on existing, nongovernmental…

Bitcoin Price Crash Forces the Chinese Miners to Sell Their Equipment As Junk

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It is not only the HODLers who are affected by the recent dip in the price of bitcoin, as a report by International Times, published November 23, 2018, posits that cryptocurrency miners in China are selling their expensive mining rigs at giveaway prices. Bitcoin Miners Not Able to Breakeven It appears that shine associated with cryptocurrency mining is steadily waning off, as a recent report states the crypto market slump has forced miners in China to sell their expensive machines in second-hand markets to realize their scrap value. The reason…

Crypto Markets See Mild Volatility on The Day, Fail to Hold Sharp Rebound Trend

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Saturday, Nov. 23: crypto markets have seen some volatility on the day, but failed to hold a sharp rebound attempt. The top 20 cryptocurrencies by market cap are seeing their prices stabilize after another sell-off yesterday, according to CoinMarketCap. As of press time, the major 20 crypto markets are seeing a mix of red and green, with most gains fluctuating around 1-2 percent. Market visualization from Coin360 Bitcoin Gold (BTG), ranked 20th by market cap, has seen the biggest growth on the day, spiking almost 10 percent over the past…

Alleged Bitcoin Launderer Vinnik Announces Hunger Strike to ‘Get a Fair Trial’

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The lawyer for Alexander Vinnik, the alleged former operator of defunct cryptocurrency exchange BTC-e, said his defendant will go on a hunger strike this Monday, Russian state-owned news outlet TASS reported Nov. 23. According to Timofey Musatov, the head of the lawyers representing Vinnik, the reason given for the hunger strike is that “he [Vinnik] was stripped of the right for defense in France and, consequently, in Greece.” The lawyer also noted that “it became clear that the [French-issued] European arrest warrant expired.” In 2017, Greece’s supreme court ruled to…

Bitcoin BTC to 50k in 3 Years. Chinese Billionaire Zhao Dong Predicts

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Zhao Dong, one of China’s most influential “Bitcoin Billionaires,” recently addressed his followers on Weibo (better known as the “Chinese Twitter”), to convey his optimism about the future price of Bitcoin. Being Bullish in Bearish Times Zhao Dong explained that even though the cryptocurrency can touch even lower prices, his mind is highly bullish and he is convinced that now is an excellent time to buy and hold Bitcoin (BTC). For the founder of Dfund, the right occasion to persuade the community to buy is precisely in bearish times as…