Day: February 15, 2019

Bitcoin’s Sideways Drift Has Shifted Price Recovery Target to $3.7K

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View Bitcoin’s six-day-long consolidation near $3,600 has neutralized the bullish view put forward by a falling wedge breakout confirmed on Feb. 8. The follow-through to that bullish breakout has been extremely weak with prices unable to challenge the highs above $3,700 hit last Friday. A move above $3,711 (Feb. 8 high) would validate the bullish outside reversal candle seen in the 3-day chart and open the doors to the psychological hurdle of $4,000. That looks likely as BTC has witnessed another falling wedge breakout on the 4-hour chart. Bitcoin risks…

Institutional Investors Provide 66% of Capital Inflow

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Digital asset management fund Grayscale Investments latest crypto investment report released on Feb. 14 reveals that capital inflow from institutional investors is on the rise. For Q4 2018, Grayscale reports that institutions accounted for the majority of investments — at 66 percent. As well, investors were almost exclusively based in the United States (99 percent), although full year statistics indicate a more distributed geography, with 33 percent offshore investors to 67 percent U.S.-based. In its more detailed analysis of investor profiles, Grayscale notes that the protracted bear market has drawn…

‘Joker-Printed Money’ — JPMorgan’s JPM Coin Is Not an Irony. It’s a Joke.

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‘Joker-Printed Money’ — JPMorgan’s JPM Coin Is Not an Irony. It’s a Joke. February 15, 2019 by Paul de Havilland The creation of the JPM Coin, a new stablecoin issued by JPMorgan Chase, has been announced by the major American bank. But can it be taken seriously? Also read: Fight or Flight? How Laws and a Lack of Trust Affect Bitcoin Trading We love hearing from our readers. Sound off on our Twitter or Facebook pagesCheck out our insights & interviews with influential insiders on the Bitsonline YouTube channelAnd for the only source of UNFILTERED trading…

‘Joker Printed Money’ — JPMorgan’s JPM Coin Is Not an Irony. It’s a Joke.

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‘Joker Printed Money’ — JPMorgan’s JPM Coin Is Not an Irony. It’s a Joke. February 15, 2019 by Paul de Havilland The creation of the JPM Coin, a new stablecoin issued by JPMorgan Chase, has been announced by the major American bank. But can it be taken seriously? Also read: Fight or Flight? How Laws and a Lack of Trust Affect Bitcoin Trading We love hearing from our readers. Sound off on our Twitter or Facebook pagesCheck out our insights & interviews with influential insiders on the Bitsonline YouTube channelAnd for the only source of UNFILTERED…

Argo Blockchain Plans to Terminate Mining Contracts, Cut Costs by 35 Percent

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United Kingdom-based cryptocurrency mining provider Argo Blockchain announced it was refocusing its business as part of a major cost-cutting exercise, according to a strategy update published on Feb. 15. Argo, which is headquartered in London with facilities in Quebec, said it would terminate its Mining-as-a-Service (MaaS) operations by April, focusing solely on direct mining. MaaS operators facilitate cryptocurrency mining on borrowed hardware remotely. Explaining its decision, Argo said the ongoing suppression of Bitcoin (BTC) prices and associated reduced profitability of mining had caused it to slim down its expenses sheet.…

Russian Tech Giant, Blockchain Platform Sign Agreement to Improve Operational Systems

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A subsidiary of Rostec, a Russian state-owned high-tech conglomerate, has partnered with blockchain platform Vostok, major Russian news agency Tass reports on Feb. 14. The joint agreement was signed by Rostec subsidiary National Center for Informatization (NCI) and tech company Vostok, which provides a blockchain platform combining its own private blockchain and the Vostok system integrator. Global blockchain platform Waves raised $120 million in December 2018 for the Vostok platform, which uses Waves technology for both commercial and government IT systems. According to the agreement, Vostok will be responsible for…

Coinsquare Acquires Decentralized Cryptocurrency Exchange StellarX

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Canada-based cryptocurrency exchange Coinsquare has acquired decentralized exchange (DEX) StellarX. Announcing the news on Thursday, the firm said the purchase comes it acquired stellar wallet BlockEQ last December. That product will be rebranded to become the “anchor wallet” for the StellarX platform going forward. Coinsquare did not disclose the cost of the acquisition. StellarX is a “full featured” decentralized exchange app native to the stellar protocol and offering trading in a range of cryptocurrencies and fiat currencies – the latter being unusual for a DEX, allowing users to fund with fiat…

Nvidia Reports Full-Year Revenue Increases But Q4 Losses After Cryptocurrency ‘Hangover’

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United States gaming and computer hardware manufacturer Nvidia has reported full-year revenue gains, the company confirmed in a press release about its Q4 earnings published on Feb. 14. Nvidia, which was one of the companies worst hit by the cryptocurrency market downturn and associated lack of demand of mining components, said its total 2018 revenue climbed 21 percent from 2017 numbers to $11.72 billion. The growth was driven by all-time high sales of its gaming, datacenter, professional visualization and automotive products. Nvidia’s shares jumped 8 percent this week on the…

Hungry Users of the New Lightning App Can Now Buy Pizza Using Bitcoin

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Photo: Pixabay You definitely have heard about the man who made a history paying 10,000 Bitcoins for two pizzas. It was in 2010. But it’s not the end of the relationship between pizza and Bitcoin. This week more than 150 people have bought pizza with Bitcoin. No, it’s not a flash mob. It’s a new opportunity available in the Lightning Network app. Domino’s Enters the Crypto World Domino’s Pizza, a pizza restaurant chain that was founded in 1960 in the US,  has seriously expanded since that time. But now it…

Crypto Diehard Novogratz: Big Brother’s Presence Is Bullish For Bitcoin (BTC)

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Big Brother Is Here, And That’s Good For Crypto Bitcoin’s value proposition has taken a number of forms over the project’s decade-long lifespan. While theses regarding the de-facto “digital gold” status of Bitcoin (BTC) have become popular, what has slipped under the radar is the value that the cryptocurrency poses in a digitized authoritarian society. Mike Novogratz, the chief executive of crypto merchant bank Galaxy Digital, touched on this subject matter on Wednesday, as he released a tweet touching on the importance of Bitcoin in a Big Brother-run state. This…