Day: January 23, 2019

Would Crypto Markets React if Bithumb Went Public in The US?

boss

One of the world’s largest crypto exchanges could soon be publicly traded in the US through a reverse merger. A Singapore based holdings company which has a majority stake in one of Korea’s top exchanges is looking to get listed by acquiring an already publicly trading company. Bithumb Could Get Listed Without an IPO A few hours ago CNBC reported that Blockchain Exchange Alliance, which holds a majority stake in Bithumb, has ambitions to go public in the US. Furthering those goals, the Singapore based alliance signed a binding letter…

McAfee to Lead 2020 Presidential Campaign ‘in Exile’ After Alleged IRS Indictment

boss

United States entrepreneur and serial cryptocurrency advocate John McAfee has fled the country to conduct his 2020 presidential campaign, he said in a video statement Jan. 22.  McAfee claims he has been indicted by U.S. tax authorities and plans to run his campaign from a boat in international waters. The controversial crypto community figure, who plans to run for president of the U.S. next year, said he had learned that a grand jury had been convened against him by the Internal Revenue Service (IRS). While he said he did not…

Coinbase Targets Whales in Europe and Asia With New Trading Services

boss

As the crippling US government shutdown rolls into its fifth week major crypto exchanges are looking at alternative markets. They don’t come much bigger than Coinbase which has just expanded trading options for big traders in Europe and Asia. High Volume Traders Only The new options are not available to everyone though as only Coinbase Pro and Prime customers have been selected. The biggest improvement is the ability to use cross border wire transfers to fund Coinbase accounts. Previously the bank had to be in the same country as the…

Asian Crypto Exchange Huobi is Tightening its Belt in the Bear Market, Plans to ‘Spend Money Carefully’

boss

From CCN.com: Have you ever heard the expression ‘hope for the best and prepare for the worst’? Chinese cryptocurrency giant Huobi, a former ‘big three’ exchange, is doing exactly that. Although the exchange is a profitable business that still makes money every month, they are laying off staff and preparing for the worst amidst this current bear market. Just in case! CCN reported in December that both Huobi and the Chinese crypto mining equipment manufacturers Bitmain Technology were laying off staff, but at the time, Huobi remained relatively silent on…

Asian Crypto Exchange Huobi is Tightening its Belt in the Bear Market, Plans to ‘Spend Money Carefully’

boss

Image: Shutterstock From CCN.com: Have you ever heard the expression ‘hope for the best and prepare for the worst’? Chinese cryptocurrency giant Huobi, a former ‘big three’ exchange, is doing exactly that. Although the exchange is a profitable business that still makes money every month, they are laying off staff and preparing for the worst amidst this current bear market. Just in case! CCN reported in December that both Huobi and the Chinese crypto mining equipment manufacturers Bitmain Technology were laying off staff, but at the time, Huobi remained relatively…

Bitcoin Price Watch: BTC Runs Into Crucial Resistance, What’s Next?

boss

Bitcoin price climbed higher sharply after diving below the $3,480 support level against the US Dollar. Yesterday’s highlighted key bearish trend line is intact with resistance near $3,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is facing a crucial resistance near $3,600, above which it could rally towards $3,700 or $3,750. Bitcoin price is showing positive signs above the $3,520 level support against the US Dollar. Having said that, BTC is struggling to clear the key $3,600 resistance level. Bitcoin Price Analysis Yesterday,…

Crypto Exchange Bithumb Seeks US Listing via Reverse Merger Deal

boss

Bithumb, one of the largest cryptocurrency exchanges by trading volume, is looking to go public in the U.S. through a reverse merger. Blockchain Industries, an investment firm focusing on the crypto and blockchain industry and traded on the U.S over-the-counter markets, announced Tuesday that it had signed a binding letter of intent (LoI) agreement with Singapore-based BTHMB Holdings, the holding company of Bithumb, for the reverse merger deal. A reverse merger is also known as a reverse initial public offering (IPO), wherein a private company acquires a publicly-listed company to bypass the lengthy…

Ripple Price Analysis: XRP Buyers Target Fresh Weekly Highs

boss

Ripple price tested the $0.3050 support level and later bounced back above $0.3120 against the US dollar. There was a break above a major bearish trend line with resistance at $0.3160 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently placed nicely above $0.3160, but it must break the $0.3220 resistance for more gains. Ripple price started a decent recovery against the US Dollar and Bitcoin. XRP/USD is now facing a major hurdle near $0.3220 and the 100 hourly simple moving average. Ripple…

Ethereum Price Analysis: ETH Staging Decent Comeback, Could Test $125

boss

ETH price tested the $110-111 support area and later bounced back above $116 against the US Dollar. This week’s followed key bearish trend line was breached with resistance at $118 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now placed above the $116 resistance and it could continue to move higher towards $125. Ethereum price started a decent upside recovery against the US Dollar and bitcoin. ETH/USD could gain momentum once there is a break above the $121-122 resistance zone. Ethereum Price Analysis Recently, there…

Bloomberg: Bitcoin (BTC) Gearing Up For “Short-Term Rally” After Market Turmoil

boss

Oversold Bitcoin (BTC) Could Rally, Claims Bloomberg Analyst Bitcoin (BTC) has struggled in recent days, that’s no secret. Case in point, the value of cryptocurrencies has undergone drastic price fluctuations in recent days, with assets gaining and losing a handful of percentage points in a few hours’ time. And while all this may be disconcerting, a recent report from Bloomberg has revealed that BTC may be nearing a local bottom, and could move higher from current price levels. The outlet’s Olga Kharif, citing a number of technical measures, noted that…