Day: March 21, 2019

Cryptocurrency Price Correlations in Bitcoin, Dollar Flipped in 2018, Binance Finds

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Price correlations among major cryptocurrencies increased against the U.S. dollar (USD) but fell in Bitcoin (BTC) terms, a new report from cryptocurrency exchange Binance revealed on March 20. Part of an investigation into price trends within crypto markets since 2017, Binance found that behavior among assets is diverging depending on whether returns are denominated in USD or BTC. Specifically, USD returns from holdings were more correlated among cryptocurrencies within the three months of 2019 ending March 1 than in 2017. BTC returns, by contrast, are less correlated in current conditions…

Bitcoin, Gold Strongly Correlated in 3-Week High to Spell Stock Market Disaster

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Bitcoin and gold both hit three-week highs on Thursday after a period of highly correlated trading. It comes as the dollar crashes and warning signs flash on the stock market. The correlation strengthens bitcoin’s case as “digital gold” and proves that traders are beginning to treat cryptocurrency like a traditional asset. As the dollar crumbles and whispers of recession grow, bitcoin could spike alongside gold as a hedge against a future bear market in stocks. Bitcoin and Gold Strong Correlation As you can see in the chart below, both bitcoin…

Why This Investor Says Ethereum is Positioned to Become a Store of Value

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It isn’t a secret that when crypto investors mention a “digital store of value,” they are decidedly referring to Bitcoin (BTC). But, as emission (supply output) rate of Ethereum (Ether/ETH) has dwindled over its nearly four years in existence, commentators have begun to evaluate the cryptocurrency’s status. Although some are sure that Ether is gas through and through, giving users the ability to issue transactions, execute smart contract commands, and issue digital tokens, many have begun to fit the asset into different categories. And somehow, some way, one investor managed…

Cryptopia exchange back in business but in safe mode

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A New Zealand-based crypto trading company that was shut down following a major hacking is now open for trading again, but has advised its customers not to make withdrawals or deposits as it is risky. Cryptopia, based in Christchurch, had lost 9.4 percent of its total holdings after suffering a security breach in January. The exchange has not disclosed the value of the losses, the tokens, and currencies affected or any measures to refund users. But after decoding data stored on the Ethereum blockchain public database, data company Elementus said…

Top 3 Blockchain-Based Companies Making a Difference in The Gaming Space

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Video games have been a source of amusement since 1958 when William Higinbotham created “Tennis for Two”. Using just a knob and a button, this game provided a new form of entertainment for the lucky few to have visited the Brooklyn National Laboratory open house, the venue of the game’s initial release. Unbeknownst to Higinbotham at the time, his creation would pave the way for the complex and highly engaging video games of today. Over the past couple of decades, video games have been popular among children and adults alike.…

Ontology’s ONT Crypto Surges 74.5% in March

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Another seemingly original blockchain project is looking at its valuation going up this March. Ontology, backed by a Chinese blockchain development firm OnChain, experienced a 74.5-percent surge in the value of its native token ONT. Between March 5 and today, the ONT-to-dollar rate jumped from 0.80 to 1.40. In the last 24-hours alone, the rate appreciated 24.46%. It is now trading at $1.38. Join CCN for $9.99 per month and get an ad-free version of CCN including discounts for future events and services. Support our journalists today. Click here to…

Ontology’s ONT Crypto Surges 74.5% in March

boss

Another seemingly original blockchain project is looking at its valuation going up this March. Ontology, backed by a Chinese blockchain development firm OnChain, experienced a 74.5-percent surge in the value of its native token ONT. Between March 5 and today, the ONT-to-dollar rate jumped from 0.80 to 1.40. In the last 24-hours alone, the rate appreciated 24.46%. It is now trading at $1.38. Join CCN for $9.99 per month and get an ad-free version of CCN including discounts for future events and services. Support our journalists today. Click here to…

Binance Lite Will Allow Australians to Purchase Bitcoin for Cash from over 1,300 Stores – BTCMANAGER

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Cryptocurrency fans down under will soon be able to buy bitcoin (BTC) from their nearest newsagent, thanks to Binance’s newly launched service called “Binance Lite,” reports The Next Web, March 19, 2019. Australians Can Now Buy Bitcoin for Cash Malta-based cryptocurrency exchange Binance has quickly cemented itself as one of the strongest forces helping increase the footprint of digital currencies the world over. Per sources close to the matter, the exchange’s latest service offering called Binance Lite will provide a fiat gateway to Australian crypto-enthusiasts to purchase bitcoin from over…

Ex-NATO Secretary General Bullish on Blockchain as He Partners With Swiss Startup

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Swiss blockchain identity network Concordium has hired former Danish prime minister and NATO secretary general Anders Fogh Rasmussen as a strategic advisor, the company confirmed in a press release on March 20. The Concordium Foundation, the controlling entity behind the Concordium Network that launched a proof of concept in January, aims to tackle blockchain deployment in certain fields with Rasmussen’s expertise. The former politician currently heads Rasmussen Global, a consultancy firm active in diverse fields including democracy, transatlantic relations and security policy. “Given the enormous scope and far-reaching potential of…

Bitcoin Price Charts Echo Pattern Seen Before 2015 Bull Market

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View Bitcoin’s drop from a record high of $20,000 clocked in December 2017 has ended up creating a falling channel similar to the one created in the 18 months leading up to the long-term bullish reversal seen in October 2015. If the same sequence of events unfolds, BTC could see a channel breakout later this year. An early move out of the falling channel cannot be ruled out, but may not yield stronger rally while the crucial 21-week moving average is trending south. The short-term bullish view put forward by…