Bitcoin Up 7% in Minutes, Ethereum Rises 13% From Day’s Low

Within nine minutes, the Bitcoin price surged from $3,625 to $3,900, by 7.5 percent. Other crypto assets like Ethereum (ETH) followed, recording a 13 percent upswing from the day’s low. Although Bitcoin and the rest of the crypto market only recovered to Thursday levels, the unforeseen turnaround of the short-term trend of crypto assets led traders to regain confidence in the market. In the grand scheme of things, the increase in the Bitcoin price from mid-$3,000 to $4,000 will realistically have little to no impact on the short-term trend of…

The Three Watershed Moments in Crypto in 2018–And No, They’re Not What You Might Think

The Three Watershed Moments in Crypto in 2018–And No, They’re Not What You Might Think December 28, 2018 by Paul de Havilland 2018 was a hellish ride for crypto, but it did see three watershed moments. After the jubilation and talk of lambos and moons during the ICO-infested 2017, the past year ushered in an era of greater price restraint, hype restraint, and a toning down of the borish “when lambo” talk. Also see: How a Swiss Watch Giant Copied a Bitcoin Startup’s Idea and Claimed It as Its Own Subscribe…

The Three Watershed Moments in Crypto in 2018–And No, They’re Not What You Might Think

The Three Watershed Moments in Crypto in 2018–And No, They’re Not What You Might Think December 28, 2018 by Paul de Havilland 2018 was a hellish ride for crypto, but it did see three watershed moments. After the jubilation and talk of lambos and moons during the ICO-infested 2017, the past year ushered in an era of greater price restraint, hype restraint, and a toning down of the borish “when lambo” talk. Also see: How a Swiss Watch Giant Copied a Bitcoin Startup’s Idea and Claimed It as Its Own Subscribe…

Asian crypto routes preferred by money launderers

The United States Drug Enforcement Agency (DEA) has revealed that organized multinational drug dealers are now using Chinese crypto routes to move funds around the world especially to and from Mexico. Paul Knierim, the deputy chief of operations at DEA’s office of global enforcement, said that: The shift towards Chinese and Asian money launderers is believed to be, in part, due to the natural relationship created by the large volume of both licit and illicit trade goods and chemicals imported from China. The use of an Asian money broker simplifies…

Single Global Currency Like BTC Faces Insurmountable Obstacles, Argues Payments Firm CEO

Scott Galit, CEO of New York-headquartered payments processing firm Payoneer, says a single global, non-fiat currency such as Bitcoin (BTC) is unrealistic. Galit made his remarks during an interview with CNBC published on Dec. 28. Payoneer is a financial services company that provides cross-border money digital payment support for businesses and professionals across 200 countries, and was named CNBC’s thirteenth most disruptive company of 2018. Galit built his argument against frictionless commerce, money and avoiding fiat currencies becoming a reality on two main points — the opposition of national governments…

Institutional money is finding its way into the Crypto Space

According to multiple sources, institutional money is finding its way into the Crypto Space. These influential enterprises, financial institutions, or government agencies are entering the digital currency market in hopes of not merely making a quick profit, but to  acquire and adopt the nascent technology – Blockchain as primary movers. Despite the ongoing bear market, many in the Cryptocurrency space have been waiting with baited breath for the “entry of institutional money” to trigger the next bull run as more HNWI’s (high-networth investors) are taking keen interest in the $126…

Bitcoin Trading at Strong Correlation with Gold as Traditional Investors Step In

A Wall Street Journal (WSJ) article published today, Dec. 28, suggests that Bitcoin (BTC)’s correlation with traditional assets markets has been high in recent days. Citing data from research firm Excalibur Pro Inc., the WSJ states that the top cryptocurrency has traded at a 0.84 correlation to gold over the past five days, where -1 indicates complete inversion and +1 perfect correlation. Moreover, Bitcoin has traded at a 0.77 correlation to the Chicago Board of Options Exchange’s Volatility index (VIX), a benchmark index for the United States equity market volatility.…

Daily Traded Volume on Huobi’s Crypto Derivatives Platform Breaks $1 Billion

Daily traded volume of cryptocurrency contracts on the Huobi Derivatives Market (DM) has broken past $1 billion, according to a press release shared with Cointelegraph on Dec. 27. Huobi Global — which operates the world’s third-largest largest crypto spot market trading platform — launched Huobi DM last month. The new platform allows traders to trade Bitcoin (BTC) and Ethereum (ETH) contracts that aim to allow for arbitrage, speculation, and hedging. Having reportedly broken past $1 billion in daily trades on Dec. 25, Huobi DM is today expanding its crypto contracts…

Daily Traded Volume on Huobi’s Crypto Derivatives Platform Breaks $1 Billion

Daily traded volume of cryptocurrency contracts on the Huobi Derivatives Market (DM) has broken past $1 billion, according to a press release shared with Cointelegraph on Dec. 27. Huobi Global — which operates the world’s third-largest largest crypto spot market trading platform — launched Huobi DM last month. The new platform allows traders to trade Bitcoin (BTC) and Ethereum (ETH) contracts that aim to allow for arbitrage, speculation, and hedging. Having reportedly broken past $1 billion in daily trades on Dec. 25, Huobi DM is today expanding its crypto contracts…

Italy Unveils ‘High-Level Experts’ to Help Develop Its Official Blockchain Strategy

The Italian government has published its list of 30 blockchain high-level experts to further its integration of the technology at state level, Cointelegraph Italy reported Dec. 27. The result of a four-month hiring and consultation process, the group will work for free advising authorities how to create a “national strategy on distributed register and blockchain technologies.” The project is being convened by the Italian Ministry of Economic Development (MSE). “Emerging technologies such as Artificial Intelligence (AI) and blockchain are intended to radically change our lives, the society in which we…