Day: February 20, 2019

Bitcoin Price Looks North As Trading Volumes Hit 9-Month Highs

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View Bitcoin witnessed an inverse head-and-shoulders breakout on Monday and rose to $4,000 yesterday, confirming a bullish reversal on the daily chart. The trend change is backed by a jump in trading volumes to levels last seen in May 2018. The rally, therefore, looks to have legs and December highs above $4,200 could come into play, albeit after a minor bout of consolidation or pullback, as the indicators on the 4-hour chart and daily charts are reporting overbought conditions. A break below Monday’s low of $3,614 would invalidate the bullish…

Japan’s Second-Largest Securities Brokerage Daiwa Completes Blockchain Pilot

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Daiwa Securities Group, Japan’s second largest securities brokerage, has announced the completion of a blockchain proof-of-concept (PoC) in a press release shared with Cointelegraph on Feb. 19. The PoC implemented blockchain in the trade matching of post-trade processing. The blockchain pilot project, dubbed “JPX Proof-of-Concept Testing for Utilization of Blockchain / DLT in Capital Market Infrastructure,” involved 26 companies, including financial institutions, system providers and institutional investors. The reported goal of the pilot — which just completed the second of two phases — was to increase the efficiency of blockchain…

Bitcoin Chart Has All Signs of a Bottom, Surging Past $4,200 May Trigger Big Move

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In the past 48 hours, the valuation of the crypto market increased by $13 billion as Bitcoin moved rapidly from $3,600 to $3,900 by 10 percent. Traders are expecting a near-term pullback following a strong movement in the cryptocurrency market. The overall cryptocurrency market cap is continuing to make robust gains. Source: Coinmarketcap.com But, economist and analyst Alex Krüger foresees the Bitcoin price surging fast beyond key resistance levels if the dominant cryptocurrency is able to break out of the crucial $4,200 mark in the weeks to come. The time…

Bitcoin Price to Explode at $4,200, Chart Shows Bottom Reached

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In the past 48 hours, the valuation of the crypto market increased by $13 billion as Bitcoin moved rapidly from $3,600 to $3,900 by 10 percent. Traders are expecting a near-term pullback following a strong movement in the cryptocurrency market. The overall cryptocurrency market cap is continuing to make robust gains. Source: Coinmarketcap.com But, economist and analyst Alex Krüger foresees the Bitcoin price surging fast beyond key resistance levels if the dominant cryptocurrency is able to break out of the crucial $4,200 mark in the weeks to come. The time…

45 Days Left for SEC to Decide on CBOE-VanEck Bitcoin ETF

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Photo: SEC_News / Twitter The VanEck/SolidX proposal will join one filed by Bitwise Investment Management and NYSE Arca, which was published in the Federal Register on Feb. 15, meaning the SEC has until the beginning of April to decide on it or postpone the decision. The VanEck/SolidX proposal was filed last year, and was widely expected to be the first proposal to be approved by the U.S. securities regulator. However, this proposal was withdrawn during the longest U.S. government shutdown in history and re-filed at the end of January. If…

SEC Set to Begin Fresh Consultation Period on CBOE-VanEck Bitcoin ETF

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United States regulator the Securities and Exchange Commission (SEC) says it will shortly commence the countdown period to approval or disapproval of the VanEck/SolidX Bitcoin exchange-traded fund (ETF). The news was announced in an unpublished notice that was filed on Feb. 19. The move is the latest in a series of back-and-forth exchanges between the SEC and ETF sponsors. The Chicago Board Options Exchange (CBOE) — the exchange applying with the SEC to list the Bitcoin ETF — had withdrawn its application for a rule change on the ETF in…

Bitmain Announces Its Next Gen Bitcoin and Bitcoin Cash Mining Chip

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Photo: Bitmain Blog The Chinese-based mining giant and ASIC hardware manufacturer, Bitmain, unveiled a new 7-nanometer Bitcoin mining processor. The new ASIC (application-specific integrated circuit), will offer new levels of energy efficiency according to the company. This new mining hardware, BM1397, features an excellent design for mining cryptos that use the SHA256 algorithm for their proof-of-work (PoW). Some of the major digital tokens that use the SHA256 algorithm include Bitcoin Cash (BCH) and Bitcoin (BTC). Bitmain announced the updates in a blog post published on February 18, 2019. The new…

Tesla Founder Elon Musk Believes that Bitcoin is Better than Paper Money, and Here’s Why

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The community of those predicting great future of cryptos has welcomed a new member. Elon Musk, founder and CEO of Tesla and SpaceX, has officially confirmed his belief in digital currencies and said that cryptos provide a better alternative to conventional money. On February 19, Musk had a podcast interview with investment firm ARK Invest. He spoke about future plans and strategies of his companies, discussed the development of virtual coins and shared his own view on cryptos, Bitcoin in particular. According to Musk, Bitcoin has “quite brilliant structure”. He said: “It [crypto]…

Another Major Bank Ordered Closed for Money Laundering

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Danske Bank has been ordered to close up in Estonia following another money laundering scandal. It is not the first time a major bank has been involved in money laundering and it will not be the last, which is all good news for crypto. One of the most commonly spouted reasons that crypto is bad is that criminals use it for money laundering. But the bottom line is the US dollar is still the currency of choice for washing money, and banks are the vehicle. As more bank scams get…

Apple Taps Blockchain to Ethically Manufacture Your iPhone, Macbook

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When you think of Apple, you think iPhone, iPad, or even privacy concerns. You probably don’t think conflict minerals used in the manufacturing of its devices or how blockchain could prove the cure for an ethical supply chain. Well, you should. The tech giant has filed a report with the U.S. Securities and Exchange Commission indicating it is studying ways to implement Blockchain in some form or fashion. Reading Between The Lines Apple submitted a filing called the “Conflict Minerals Report; Summary of Apple’s Commitment to Responsible Sourcing.” In the…