Day: January 24, 2019

Beware Delawarification: Is Wyoming Treading the Right Path?

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Beware Delawarification: Is Wyoming Treading the Right Path? January 24, 2019 by Paul de Havilland Wyoming has made crypto headlines recently as a result of its apparently sudden “crypto-friendly” status. On January 16th the state House of Representatives presented a bill that would allow companies to issue tokenized stock certificates. But before anyone gets too excited, a dose of reality is in order. Also read: Lightning Network Goes to Congress as Specter of Crypto Policy Grows Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Wyoming’s Game Changer…

StanChart’s Singapore Unit Completes First Blockchain-Powered Trade Finance Deal

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The Singapore unit of London-headquartered multinational banking and financial services firm Standard Chartered has completed its first blockchain-powered trade finance deal. The news was reported by Singapore’s English-language financial daily The Business Times on Jan. 24. The bank reported that the blockchain solution — developed by blockchain startup Distributed Ledger Technologies — had enabled an agri-business supply chain deal to be completed within just one day, instead of the typical five to seven days. As of 2017, trade finance transactions were worth over $9 trillion, and the industry remains heavily…

Bitcoin, Ether, and XRP Weekly Market Update: January 24, 2019

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The global market cap is down $2 billion since January 17, 2019, and now stands at $119 billion. Bitcoin lost 1.7 percent for the seven-day period while ether and XRP declined 5.7 percent and 4.2 percent respectively. BTC/USD Bitcoin closed its second day of gains on January 17 and moved north to $3,720. However, it could not keep the momentum and retreated on January 18 sliding back to $3,675. Generally, the BTC/USD pair has been moving indecisively within the $3,650 to $3,750 range for four days in a row. On…

OKCoin Founder Buys Hong Kong-Listed Firm in $60 Million Deal

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Mingxing “Star” Xu, the founder of cryptocurrency exchange OKCoin, has become the largest individual shareholder of a public company listed in Hong Kong via a $60 million acquisition. LEAP Holdings Group, the construction engineering firm acquired, announced the competed deal on Wednesday. OKC Holdings Corp, the parent company of OKCoin, purchased about 3.2 billion shares of the company for HK$0.15 (around $0.02) per share to achieve the takeover, it said. OKC Holdings is now the largest shareholder of LEAP Holdings, owning 60.49 percent of its stock and having the same percentage of…

Fractal Pattern Analysis Indicates Bitcoin Could Fall to $2,500 Before Recovery

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Chart and pattern analysis has been widely used to try to predict when Bitcoin and crypto markets will hit the bottom. A huge range of technical indicators combined with historical snapshots are put to work in order to tell us when the optimum time to get back in is. The latest price prediction tool is a fractal which is when a pattern repeats itself on a smaller scale. Fractals can be seen in all forms of nature and are repeated in financial markets. Mathematical patterns and an element of chaos…

Hong Kong Stock Exchange Head Hints at Incompatibility of Bitmain IPO

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The head of the Hong Kong Stock Exchange (HKEX) has addressed queries about initial public offering (IPO) listings amid confusion over Bitcoin mining giant Bitmain’s application. English-language newspaper South China Morning Post (SCMP) reported the comments on Jan. 24. Speaking at the ongoing World Economic Forum (WEF) in Davos, Switzerland, HKEX CEO Charles Li Xiaojia said that it was important IPO candidates were consistent about their business offerings. “If a company made billions of US dollars through Business A, but suddenly said it will do Business B without showing any…

New Hampshire Bill Aims to Legalize Bitcoin for State Payments in 2020

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Lawmakers in the U.S. state of New Hampshire are currently considering a bill to legalize payment of fees and taxes in Bitcoin (BTC), documents originally published on Jan. 3 reveal. NH HB470 is currently making its way through chambers of the local government, with a public hearing to introduce having took place yesterday, Jan. 23. A subcommittee is due to examine it on Jan. 29, with a due date for a decision set for Mar. 14, a summary of the bill’s passage confirms. Sponsored by Republicans Dennis Acton and Michael…

CBOE Announces Temporary Withdrawal of Its VanEck-SolidX Bitcoin ETF

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Citing the U.S. government shutdown, the VanEck executives said that the decision to withdraw the Bitcoin ETF came as there was no one to talk around from the government. In what might have come as a major setback to the Bitcoin community, CBOE has withdrawn its Bitcoin ETF proposal. The fate of CBOE’s VanEck SolidX Bitcoin ETF approval was awaiting a decision from the SEC. Furthermore, the final deadline for the approval was by the end of February 2019. However, it seems that the ongoing U.S. government shutdown has been a…

Bitcoin Price Watch: BTC At Risk of More Losses Until It Breaks $3,600

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Bitcoin price failed near key resistances at $3,600 and $3,620 against the US Dollar. This week’s followed key bearish trend line is in place with resistance near $3,570 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price may continue to move down unless buyers gain strength above the $3,600 and $3,620 levels. Bitcoin price struggled to surpass the $3,600 pivot zone against the US Dollar. BTC is currently at a risk of more losses towards $3,480 as long as the price is below $3,620. Bitcoin…

Crypto Trader “Senses Bottom,” Says Bitcoin (BTC) Could Rally In May

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Bitcoin (BTC) Could Rally One Year Away From 2020 Halvening Crypto is just three weeks into 2019, but the price predictions and forecasts are already well underway. On Wednesday, as news broke that CBOE, VanEck, and SolidX had effectively retracted their Bitcoin (BTC) exchange-traded fund (ETF) proposal, crypto analyst Moon Overlord took to Twitter to paint a bull case for the flagship cryptocurrency. Moon Overlord, known for his astute bits of analysis, first remarked that the fact that BTC barely moved off the ETF news made him “sense” that a…