Day: January 22, 2019

VCs are Expecting Crypto Market to Deliver Massively in 2019, Will Price Reflect it?

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To many onlookers, the crypto market is unpredictable as the weather. No one expected the jaw-dropping Bitcoin price rally in late-2017, nor what played out afterward. Yet, a recent quip from a leading cryptocurrency investor claims there may be an underlying rhythm to this industry — a multi-year heartbeat, if you will, that is slow but consistent. As the old adage goes, “history doesn’t repeat itself, but it does rhyme.” Related Reading: Will History Repeat? Bitcoin Price Patterns Repeating Previous Market Cycle Crypto Industry May Move In Four Year Cycles After a…

New Analysis Suggests $16 Million in Crypto Stolen in Cryptopia Hack

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As much as $16 million worth of Ethereum (ETH) and ERC20 tokens were stolen in the recent hack of New Zealand exchange Cryptopia, according to an analysis from blockchain infrastructure firm Elementus, Jan. 20. Elementus’ findings and analysis were published under a week after Cryptopia first publicly announced its detection of the breach. As reported, the exchange had initially informed the public that the platform was undergoing unscheduled maintenance, before avowing that a hack incurring “significant”— but unspecified — losses had occurred. According to Elementus, data on the Ethereum public…

Bitcoin Has All the Chances to Become the New ‘Digital’ Gold, and Here’s Why

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Despite the bear trend the influence of which was extremely noticeable in 2018, according to the official data the volume of Bitcoin payments processed on the public blockchain network the previous year amounted to over $3.2 trillion. Such an incredible sum can be considered to be a proof of the efficiency of the asset as one of the most popular and highly-demanded international payment means. Given this fact it can be viewed as an alternative to traditional settlement systems for cross-border payments. Bitcoin and Gold Bearing in mind the nature…

Bitcoin to Bottom Out At Below $3,000 But Could Easily Achieve 6-Figure Price

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Crypto’s most fervent diehards have often been lambasted for their Bitcoin (BTC) price forecasts. Blockchain project promoter John McAfee, the eccentric millionaire behind the cybersecurity company that shares his surname, called for BTC to surpass $1 million by 2020’s end, claiming that he would consume his family jewels if the prediction doesn’t come to past. And while there’s a lot on the table — literally — his irrational claim, not backed by any form of technical or fundamental analysis, has put the now-crypto insider in a tough spot. Yet, there are…

London Stock Exchange’s Trading Tech to Power New Crypto Exchange

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The London Stock Exchange (LSE) is providing the trade-matching technology for an upcoming cryptocurrency exchange in Hong Kong. The LSE Group announced Tuesday that its Millennium Exchange matching engine has been chosen to power AAX, a new exchange platform being launched by Hong Kong-based fintech firm ATOM Group. AAX is scheduled to be launched in the first half of this year and will be the first crypto exchange to use the matching engine product, according to the LSE. According to a separate statement from the ATOM Group on Tuesday, the LSE…

S. Korean Exchange Accidentally Sends $5 Million Worth of Bitcoin (BTC) In Error During Airdrop

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An airdrop mishap worth $5 Million in Bitcoin (BTC) and other cryptocurrencies was sent to customers of the South Korean exchange of CoinZest. The exchange was meant to send an airdrop of We Game Tokens (WGT) but a computer error resulted in users not only getting BTC and other cryptocurrencies, but deposits in the fiat currency of the Won. The exchange posted the following notice on its website as soon as the incident was identified: The WGT token airdrop process caused a computer error that incorrectly reflected the deposit details…

Crypto Exchange Huobi to ‘Likely Launch Its Own Stablecoin in 2019,’ Says CFO

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Top 5 Cryptocurrency exchange Huobi has plans to launch its own stablecoin this year as part of its 2019 road map, according to a press release shared with Cointelegraph Jan. 22. During a presentation in Singapore today, Huobi’s CFO said the company will also update its trading platform and continue its international expansion. “2018 brought us huge challenges but I’m personally optimistic about the crypto market. I do think we’ll see things get better this year,” CFO Chris Lee told the audience at the members-only event. Reportedly after his speech,…

Bitcoin Hovers Over $3,550 as Top Cryptos See Slight Losses

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Tuesday, Jan. 22 — most of the top 20 cryptocurrencies are seeing slight to moderate losses on the day to press time. Bitcoin’s (BTC) price is still hovering over $3,550, according to Coin360 data. Market visualization from Coin360 At press time, Bitcoin is down just a fraction of a percent on the day, trading at around $3,580. Looking at its weekly chart, the current price is about $100 lower than $3,682, the price at which Bitcoin started the week. Bitcoin 7-day price chart. Source: CoinMarketCap Ripple (XRP) is down just over 1…

Figurehead in Bitcoin Miner Heist Jailed for More Than Four Years

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An Icelandic man has received a four-and-a-half-year prison sentence for stealing Bitcoin mining equipment, local English-language news outlet Iceland Monitor reported Jan. 17. Sindri Þór Stefánsson, who in April 2018 boarded a flight to Stockholm from Reykjavik reportedly with a stolen passport, was subsequently arrested in Amsterdam and returned home. Stefánsson claimed he legally fled custody to Sweden. In court, Stefánsson, along with six accomplices, received a lengthy jail term. The proceedings relate to thefts of Bitcoin mining equipment reportedly worth $2 million, and two other attempted heists that took…

Obscure Problems Crypto Users Can Face, Explained

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2. Policies will vary depending on the exchange you’re using. While you might face exorbitant “cross-chain recovery fees” on some platforms, others will be unable to assist you in the quest to recover the tokens transferred. Let’s take a look at the policies of the two largest exchanges to give you a flavor of what to expect: Binance, by far the biggest crypto exchange by trade volume, has bad news for those who have made an honest mistake. The platform warns that, in such a scenario, it “does not know who…