Day: December 14, 2018

Crypto Bull Tom Lee is Sure that Bitcoin Fair Price Makes at Least $13,800

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According to cryptocurrency bull Tom Lee, Bitcoin is underestimated, and its fair price should be about $10,000 above where it is trading now. The digital market is very volatile, but some outstanding crypto bulls are hazarding guesses about the price of Bitcoin. One of them is Tom Lee, co-founder of Fundstrat Global Advisor, who at the beginning of 2018 predicted Bitcoin would hit a $25,000 benchmark this year. Later, he updated his Bitcoin price forecast for this year, predicting that it would reach $22,000 instead of $25,000. Unfortunately, Lee’s lofty price predictions have fallen short,…

Bitcoin Price Showing Signs of Weakness, Loses $100 to Slip Below $3300

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Bitcoin price continues to slip further making new lows. On Friday, Bitcoin corrected over 3.5% to go below $3300 levels. After showing a minor price rally upwards earlier this weak, the Bitcoin price continues to move sideways. Today itself, December 14, in the early hours, Bitcoin lost $100 to slip below $3300 levels. According to the chart on CoinMarketCap, Bitcoin made a low of $3284, but quickly recovered above $3300. At the press time, Bitcoin is trading at a price of $3314 with a market cap of $57 billion. The…

Nowhere Left To Go: The Crypto Safe Haven

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Photo: QuoteInspector After the economic plunge in October, the economy is looking like it might finish out 2018 down 1.2 percent. A loss on the year would make 2018 the worst year for the S&P 500 in a decade. Investors are desperate for any signs of improvement, but 2019 does not look promising either. A troubling geopolitical climate paired with massive corporate debt and rising interest rates could further drag down the economy in the new year. The current instability has investors scrambling to find somewhere safe to store their…

PayPal Gets into Blockchain, But Only Internally Among Employees for Now

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Payments platform PayPal has so far avoided Bitcoin acceptance and, at least visibly, not considered blockchain for its platform. Now, it has launched an internal blockchain-based employee incentive program. A production of PayPal’s innovation lab, in San Jose, California, the platform took 25 strong team six-months to build and went live this November, according to reports by Cheddar and the lab’s director of innovation Michael Todasco. He says the platform is a: “Venmo-like feed people can like and comment on and see all the activity going on within PayPal related…

Saudi Monetary Authority (SAMA) & UAE Central Bank, to launch cross-border cryptocurrency

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Reports coming from the United Arab Emirates’ say the UAE Central Bank and Saudi Arabian Monetary Authority (SAMA) will jointly issue cryptocurrency for use in cross-border transactions. “This will be the first time ever to witness the cooperation of monetary authorities from different countries. We hope this achievement will foster similar collaboration in our region,” UAE Central Bank Governor Mubarak Rashid al-Mansouri was speaking to Gulfnews. The Saudi and UAE central banks will rely on blockchain technology to develop the new cryptocurrency, though it will ultimately be limited to inter-bank…

Trump ‘advised’ to embrace cryptocurrency funding model for the Mexican border wall

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A lawmaker in the United States is of the opinion that, Donald Trump, the U.S president, should embrace cryptocurrency funding for the building of the Mexican border wall. The lawmaker, Ohio Congressman, Warren Davidson, was speaking to NPR concerning Trump’s latest comments that he wants to build a border wall at the Mexican border and the Congress needs to meet the budget. Instead of going hard on Congress, Davidson has a better way of raising the funds: “You could do with this sort of, like, a crowdfunding site. Or you…

Bitcoin Price Watch: BTC Sellers Target Breakdown Below $3,000

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Key Points Bitcoin price declined further and broke the $3,295 and $3,200 supports against the US Dollar. There was a break below a major contracting triangle with support at $3,355 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price traded to a new weekly low at $3,150 and it is currently correcting losses. Bitcoin price declined below the $3,200 support recently against the US Dollar. BTC could continue to face a lot of selling interest near the $3,350 and $3,375 levels. Bitcoin Price Analysis Yesterday,…

Venezuela Starts Converting Pensioners’ Payments to Crypto ‘Petro’: Report

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The government of Venezuela has reportedly started converting pensioners’ monthly payments from the country’s fiat currency, the bolivar, to its oil-backed cryptocurrency Petro, without giving them a choice. According to the Caracas Chronicles, a politics and economics-focused website based in Venezuela, the country’s pensioners are notified every time their monthly payments arrive, but this time received a second notification informing them the funds were “for the concept of Savings in Petro.” Per the website, pensioners have started depending on government bonuses after years of hyperinflation saw their savings become worthless.…

Venezuela Starts Converting Pensioners’ Payments to Crypto ‘Petro’: Report

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The government of Venezuela has reportedly started converting pensioners’ monthly payments from the country’s fiat currency, the bolivar, to its oil-backed cryptocurrency Petro, without giving them a choice. According to the Caracas Chronicles, a politics and economics-focused website based in Venezuela, the country’s pensioners are notified every time their monthly payments arrive, but this time received a second notification informing them the funds were “for the concept of Savings in Petro.” Per the website, pensioners have started depending on government bonuses after years of hyperinflation saw their savings become worthless.…

Ripple Price Analysis: Break Below $0.2900 Could Speed Up XRP Losses

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Key Highlights Ripple price seems to be struggling to clear the $0.3100 resistance area against the US dollar. There is a key bearish trend line formed with resistance at $0.3025 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could decline heavily if there is a break below the $0.2900 and $0.2880 supports. Ripple price is under pressure against the US Dollar and Bitcoin. XRP/USD failed to move past $0.3100 and now it could decline further towards $0.2650. Ripple Price Analysis There was a decent…