Bitcoin Price Plunge to $3,700 Expected; Retreat is a Blessing For Crypto

Following a rapid surge in the Bitcoin price from $3,614 to $4,000 within a span of three days, traders are expecting BTC to retrace by around 7 percent to $3,700. The cautious projection on the price trend of the dominant crypto asset comes after the failure of BTC to climb beyond the crucial $4,000 resistance level. On February 19, BTC achieved $4,000 across major crypto exchanges including Bitstamp and Binance. Shortly thereafter, it fell to the low $3,900 region and today, below the $3,900 level. What does Will Bitcoin Pullback…

US Decision on Bitcoin ETF Will Set Tone for Local Crypto Market

An official at South Korea’s sole securities exchange operator, the Korea Exchange (KRX), says the bourse is closely eyeing developments from United States regulators in regard to Bitcoin (BTC) exchange-traded funds (ETFs). The official, reportedly speaking on condition of anonymity, was cited by local English-language daily The Korea Herald on Feb. 20. ETFs are securities that track a basket of assets proportionately represented in the fund’s shares. They are seen by some as a potential development that would herald the widespread adoption of crypto as a regulated and passive investment…

Tesla Creator Elon Musk Reveals His Crypto Holdings

Photo: Web Summit / Flickr Recently, we reported that Tesla CEO Elon Musk believes cryptos are much better than traditional money and sees Bitcoin as a currency with “quite brilliant structure”. He said that cryptos provide a better alternative to conventional money. However, despite his enthusiasm, Musk himself owns a very little amount of cryptocurrency, all of which is denominated in Bitcoin. Musk wrote about that on his Twitter: That said, I still only own 0.25 BTC, which a friend sent me several years ago. Don’t have any crypto holdings. — Elon Musk…

University of Michigan Endowment Ups Investment in Andreessen Horowitz Crypto Venture Fund

The University of Michigan’s $12 billion endowment plans to bolster its investment in a “cryptonetwork technology fund” (CNK Fund I) managed by American venture capital firm Andreessen Horowitz. The development was revealed in the agenda for the university’s Board of Regents meeting on Feb. 21. According to the document, the endowment had already committed $3 million to CNK Fund I in June 2018 and has now included it as an approved partnership for a follow-on investment, amount unspecified. The agenda states that the fund — created by the Menlo Park,…

Craig Wright Bitcoin SV Group Controversially Rebrands as ‘Bitcoin Association’

nChain CEO Jimmy Nguyen’s bComm Association, an organization which actively promotes Bitcoin SV for merchants, has rebranded itself to the “Bitcoin Association.” While the organization has no members from the wider Bitcoin community but instead lists people like Craig Wright, Calvin Ayre, and David Li, the step signals the belief that “Bitcoin SV is the true Bitcoin.” The new Bitcoin Association, which acquired the handle “BitcoinAssn” on Twitter, offers free membership to businesses and enterprises: If you are a #Business or #Enterprise sign up to The #Bitcoin Association for freehttps://t.co/6kFUt3QEdV@BitcoinAssn…

Craig Wright Bitcoin SV Group Controversially Rebrands as ‘Bitcoin Association’

nChain CEO Jimmy Nguyen’s bComm Association, an organization which actively promotes Bitcoin SV for merchants, has rebranded itself to the “Bitcoin Association.” While the organization has no members from the wider Bitcoin community but instead lists people like Craig Wright, Calvin Ayre, and David Li, the step signals the belief that “Bitcoin SV is the true Bitcoin.” The new Bitcoin Association, which acquired the handle “BitcoinAssn” on Twitter, offers free membership to businesses and enterprises: If you are a #Business or #Enterprise sign up to The #Bitcoin Association for freehttps://t.co/6kFUt3QEdV@BitcoinAssn…

FBI Solicits Information From Bitconnect Investors With Voluntary Questionnaire

The United States Federal Bureau of Investigation (FBI) is seeking to contact investors in alleged ponzi scheme Bitconnect (BCC) that collapsed in January last year, a news statement confirmed on Feb. 20. As part of ongoing investigations into the activities of the well-known but shadowy scheme, the Cleveland branch of the U.S. law enforcement agency appealed to ex-investors to give information about their interaction with Bitconnect. A dedicated questionnaire is already available online, Special Agent Vicki D. Anderson explaining that responses would assist investigators in identifying those affected by monetary…

Bitcoin Price Watch: BTC Bulls And Bears Lock Horns For Next Break

Bitcoin price spiked towards the $4,000 resistance, but failed once again versus the US Dollar. The price traded lower and broke the $3,950 and $3,940 support levels. There was a break below a connecting bullish trend line with support at $3,925 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains well supported above $3,860 and the 100 hourly simple moving average. Bitcoin price is still facing a strong resistance near the $4,000 zone against the US Dollar. BTC bears and bulls locked horns as…

Crypto Market Targets Fresh Highs: Bitcoin Cash, EOS, XLM, TRX Price Analysis

The total crypto market cap declined recently, but it found support near the $126.5B level. Bitcoin cash price corrected lower and declined below the $146 and $145 support levels. EOS price is currently consolidating gains above the $3.85 support area Stellar (XLM) corrected higher, but it struggled to break the $0.0920 resistance area. Tron (TRX) is confined in a range below the $0.0255 resistance area. The crypto market is holding a crucial support and it could bounce back. Bitcoin (BTC), BCH, Ethereum, EOS, ripple, stellar (XLM), tron (TRX) and other…

Ripple Price Analysis: XRP Signaling Bearish Extension In Short Term

Ripple price failed to stay above the $0.3250 and $0.3200 support levels and declined against the US dollar. This week’s followed major bullish trend line was breached with support near $0.3245 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair declined below $0.3200 and tested the next key support near the $0.3140 level. The current price action is slightly bearish, suggesting more losses towards the $0.3050 support area. Ripple price failed to hold gains and declined recently against the US Dollar and bitcoin. XRP/USD could…