Day: April 1, 2019

Bitcoin Price Posts Biggest Quarterly Gain Since Late 2017

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View Bitcoin closed the first quarter of 2017 with 10.91 percent gains – the biggest quarterly gain since the fourth quarter of 2017. While bearish exhaustion is evident, a bullish reversal above $4,236 still remains elusive. A sustained break above that level may not happen in the next few months, as the price seems to be mimicking the bottoming pattern seen in nine months leading up to the October 2015 bull breakout. Bitcoin’s short-term outlook remains bullish as Friday’s close above $4,055 bolstered the bullish setup on the daily chart.…

U.S. SEC Delays Its Decision on Bitwise/VanEck Bitcoin ETF Application

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The never-ending uncertainty on the arrival of Bitcoin ETF to the market continues further! On Saturday, March 30, the U.S. Securities and Exchange Commission (SEC) announced the delay of Bitcoin ETF proposal filed by Bitwise and VanEck. Last month on February 15, Bitwise filed its application with NYSE Arca. Also, Bitwise was hopeful that the SEC will decide on their ETF proposal within 45 days of the filing i.e. April 1. However, the SEC has now decided to take the privilege of extending the period, with a maximum permissible extension…

Decentralized Platform Launches New Features as Demand for Crypto Lending Increases

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A decentralized peer-to-peer network says it is well placed to cater to the growing demand for crypto lending, and has unveiled new tool that allows users to borrow USD-backed stablecoins against cryptocurrency collateral. Nitrogen cites research from Bloomberg that shows how demand for loans backed by crypto collateral soared in 2018, as the price of Bitcoin and other coins began to decrease. It says its service enables users to “borrow and lend in a safe and transparent way” — with a range of intuitive features targeted at them on both sides…

Indian Crypto Exchange Coindelta Shutters Services, Citing Adverse Regulatory Conditions

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Indian cryptocurrency exchange Coindelta is terminating its services in light of the adverse operating climate for crypto businesses in the country. The development was announced in an official blog post on March 30. Eighteen months after its first launch, Coindelta has told users that severe restrictions on banking services for crypto-related firms in India has caused its operating costs to escalate, and that therefore it is not economically viable to continue operations. The post notes: “It has been really difficult for us to operate Coindelta exchange for the last 6…

A Brief History of the SEC’s Reviews of Bitcoin ETF Proposals

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It may span only a couple of years, but the history of Bitcoin exchange-traded funds (ETFs) and the United States Securities and Exchange Commission (SEC) is already a long one. Back in March 2017, the SEC rejected the application for a Bitcoin ETF put forward by the Winklevoss twins, claiming that the underlying Bitcoin market was still too manipulable, volatile and resistant to surveillance. Fast forward to March 2019 and the SEC has still yet to approve a single Bitcoin ETF, with the comments to its latest public consultation remaining largely negative.…

Bitcoin Cash, Litecoin Futures Volumes Top $150 Million at Kraken Exchange

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It’s not just bitcoin futures products that are becoming popular with investors, at least according to one U.K.-based crypto derivatives provider. Crypto Facilities, a subsidiary of the San Francisco-based exchange Kraken that provides bitcoin and ether reference data for CME Group and has offered its own derivatives products for years, has seen trading volume in its altcoin futures markets jump dramatically in recent weeks – in particular, its litecoin and bitcoin cash futures contracts, said head of indices and pricing products Sui Chung. He told CoinDesk that the company had…

Privacy Service for XMR-Enabled Bitcoin Transfers Removes Support for US Residents

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XMR.to —  a service that allows users to increase the privacy of their Bitcoin (BTC) transactions by using Monero (XMR) as an intermediary currency — has announced it will not be serving United States-based clients for the time being. The news was revealed in a post from a member of the site’s core team to a Reddit thread on March 30. The brief statement gives little information, indicating only that: “XMR.to will for the time being not be serving customers in the US. We are working with our legal team…

Bitcoin Price Analysis: BTC/USD Price Targes $4,254 Price Level

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Photo: QuoteInspector Key Highlights: Consolidation is over in Bitcoin market; the Bulls dominate the BTC market; the coin may find its resistance at $4,254 price level. BTC/USD Medium-term Trend: Bullish Resistance levels: $4,254, $4,385, $4,454Support levels: $4,130, $4,050, $3,961 On the Medium-term outlook, BTC/USD is Bullish. Last week, BTC/USD bottomed at $3,961 and the Bulls rejected a further reduction in the price of BTC by gathering the momentum and pushed up the BTC price. As predicted before, the Bulls were able to break up the $4,050 price level and extended…

Pakistan Plans New Digital Currency Regulations Following FAFTA’s Urging

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Pakistan is implementing new cryptocurrency regulations in an effort to improve its track record fighting financial crime, English-language Pakistani news outlet The Express Tribune reported on April 1. Pakistan, which is seeking to reduce perceived levels of crime such as money laundering and terrorist financing, will now introduce a licensing scheme for electronic money institutions. According to Pakistani news outlet Dunya News, cryptocurrency trading has been banned in the country since April last year. “These regulations will help combating money laundering and terrorism financing while it will also help regulation…

Coincheck Launches Bitcoin OTC Trading Desk for Large-Scale Clients

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Disclaimer: this article previously stated that Coincheck’s new product was aimed at institutional clients. It has been updated for accuracy. Japanese cryptocurrency exchange Coincheck has launched a Bitcoin (BTC) over-the-counter trading desk for large-scale investors. Cointelegraph Japan reported the news on April 1. The Coincheck OTC trading desk will enable clients to directly trade large volumes of Bitcoin — starting from 50 BTC ($207,000 to press time) — between each other using a web interface hosted by Coincheck. Opening hours will be limited to weekdays 10:00-15:00 (JST) and overtime trading…