Month: January 2019

JPMorgan Claims Bitcoin is No Longer Profitable to Mine

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Photo: Marco Verch / Flickr Some time ago, it could seem that almost everyone went crazy about crypto mining. People were actively building their private farms investing quite impressive sums in powerful equipment but it could really bear fruit. But is there any sense to enter the sphere of Bitcoin mining now? According to analysts from JPMorgan Chase & Co., the American multinational investment bank and financial services company, it is not feasible at all. After having conducted a throughout research, the experts found out that the production-weighted cost to create…

Bitcoin Falls Below $3,500 as Fresh Downturn Hits Cryptocurrency Markets

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Monday, January 28 — Bitcoin (BTC) lost 3 percent and altcoins shed up to one tenth of their value as bearish moves returned to cryptocurrency markets. Market visualization from Coin360 Data from Cointelegraph’s price tracker and Coin360 shows a downtrend at the start of the week, with BTC/USD losing support at $3,500. A sudden dip ended what had been a quiet week for the pair, which had remained range bound between $3,500 and $3,670. At press time on Monday, Bitcoin hovered around $3,460, its lowest price since Dec. 16. Bitcoin…

Iran Soon to Unveil Cryptocurrency With Aim to Skirt US and SWIFT: Source

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Iran could unveil its state-backed cryptocurrency at the Electronic Banking and Payment Systems conference in Tehran this week, local English-language news outlet Al Jazeera reported on Jan. 27. Iran, which has faced fresh sanctions from the United States since November, had previously planned to use blockchain-based financial tools as a way of sidestepping restrictions on its economic growth. Though a central bank-issued digital currency (CBDC), which could be a rial-backed crypto, it was thought Tehran could forge an alternative to SWIFT, the global settlements system that some Iranian banks cannot…

Bitcoin Price Analysis: BTC/USD Trends of January 28–February 03, 2019

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Photo: PEXELS Key Highlights: Bitcoin price broke out of the ranging movement; the Bulls lost the momentum on the 4-Hour chart; there is a probability for further declination of BTC price. BTC/USD Long-term Trend: Ranging Resistance levels: $3,679, $4,237, $4,692Support levels: $3,247, $2,765, $1,956 BTC/USD continues in a ranging phase on the long-term outlook. The strong bearish daily candle that broke down and closed below the $3,679 price level on January 20, followed by another bearish candle turned to doji candle prevented Bitcoin price to find support at the previous…

Bitcoin Price Watch: BTC Could Extend Decline To $3.2K-3.0K

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Bitcoin price failed to stay above the $3,520 and $3,480 support levels against the US Dollar. There is a strong resistance formed near $3,500 and a bearish trend line on the hourly chart of the BTC/USD pair (data feed from Kraken). The price tested the $3,400 support and it remains at a risk of more losses towards $3,200 or $3,000. Bitcoin price moved into a bearish zone below $3,500 against the US Dollar. BTC might extend the current decline towards the next key support at $3,200 or even $3,000. Bitcoin…

Bitcoin Adoption: Coinbase Pops Up Donut Shop To Bolster Crypto Usability

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Coinbase Looks To Bolster Bitcoin (Cash) Adoption It isn’t a secret that cryptocurrencies, like Bitcoin (BTC) and Ethereum (ETH), have struggled to gain steam in traditional, brick & mortar retail outlets. In fact, per a recent article series from Vitalik Buterin-founded Bitcoin Magazine, use of digital assets in the real world was just as difficult three to four years ago than it is now. Yet, Coinbase, the Silicon Valley’s crypto & blockchain darling, has sought to change this. Well, that’s according to Brian Armstrong, an Airbnb software developer turned Coinbase founder…

Don’t Throw the Crypto Tokens Out With the Bathwater

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Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. ___________ A year into the crypto market meltdown, we’ve gone from one extreme to the other. Where investors and commentators were once consumed with the naïve belief that ICO-funded startups would quickly usher in a new token-driven decentralized economy and unlock untold wealth, we’re now at a point where any idea…

Crypto Traders Optimistic About Bitcoin (BTC) Price, Expect Bottom

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Bitcoin Price Gets Hammered, Traders Optimistic In the past hours (per the time of writing), the value of cryptocurrencies across the board have fallen dramatically. Bitcoin (BTC) is currently posting a 2.3% loss, falling to the $3,500 price level for the umpteenth time in weeks. Altcoins, interestingly, have had it much worse. XRP and Ethereum (ETH) have seen their values been pared by 4.2% and 5.8% respectively, with the former approaching the all-important $0.30 price level, and the latter collapsing under $110. The digital assets on the lower rungs of…

Ripple Price Analysis: XRP Could Accelerate Losses Below $0.3000

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Ripple price declined recently and broke the $0.3100 and $0.3070 supports against the US dollar. There is a major bearish trend line in place with resistance at $0.3030 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair remains at a risk of more losses below the $0.3000 support area in the near term. Ripple price tumbled and broke key supports against the US Dollar and Bitcoin. XRP/USD could accelerate losses towards the $0.2920 support in the coming sessions. Ripple Price Analysis This past week, there…

Ethereum Price Analysis: ETH Breaks Down, Turned Sell on Rallies

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ETH price traded below the $114 and $112 supports levels to move into a bearish zone against the US Dollar. There is a major bearish trend line formed with resistance at $112 on the hourly chart of ETH/USD (data feed via Kraken). The pair may correct higher a few points, but it likely to face sellers near the $112 or $114 level. Ethereum price made a sharp bearish turn against the US Dollar and bitcoin. ETH/USD is now trading in a bearish zone and it could continue to move down…