Day: April 2, 2019

Bitcoin Price Races Toward Wildly-Bullish ‘Golden Cross’

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Bulls finally got the better of stubborn bears as they smashed the $4,200 resistance level to see a sharp 20% Bitcoin price increase. The surge occurred at 07:00 UTC+1 on April 2 and managed to reach $5,000, marking the flagship cryptocurrency’s highest level in 2019. Bitcoin Price Jumps Above 200-Day Moving Average Today’s closing price will be a key indicator for where things move from here. Should Bitcoin close above the 200-day moving average, which seems likely given that the price increase has held steady above $4,700, this brings the…

Bitcoin Price Races Toward Wildly-Bullish ‘Golden Cross’

boss

Bulls finally got the better of stubborn bears as they smashed the $4,200 resistance level to see a sharp 20% Bitcoin price increase. The surge occurred at 07:00 UTC+1 on April 2 and managed to reach $5,000, marking the flagship cryptocurrency’s highest level in 2019. Bitcoin Price Jumps Above 200-Day Moving Average Today’s closing price will be a key indicator for where things move from here. Should Bitcoin close above the 200-day moving average, which seems likely given that the price increase has held steady above $4,700, this brings the…

Andreessen Horowitz Restructures, Registering Entire Staff as Financial Advisors

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American venture capital firm Andreessen Horowitz is restructuring by registering all of its employees as qualified financial advisors, Forbes reported on April 2. Andreessen Horowitz — a Silicon Valley company specializing in investing mostly in technology and financial services startups, having raised $1.7 billion across seven funds — told Forbes that it is registering their all 150 employees as financial advisors, which renounces the company’s status as a venture capital firm entirely. The restructuring will purportedly enable Andreessen Horowitz to take riskier bets on certain business areas, including digital currencies.…

Coinbase Reveals Hot Wallet Coverage Up to $225 Mln Via Lloyd’s of London Broker

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Major American cryptocurrency exchange Coinbase has revealed details of its insurance coverage for its hot wallet crypto holdings, reportedly covering a $255 million limit via a Lloyd’s of London-registered broker. The details were disclosed in an official blog post from Coinbase’s Chief Information Security Officer (CISO) Philip Martin on April 2. According to Martin, Coinbase has held an insurance policy covering its hot wallet crypto holdings since mid-November 2013, in particular to protect against what the exchange identifies as being the highest-risk consumer loss scenario in the crypto space —…

A Guilty Verdict, Impatient Creditors and a Resurrecting Movement: Mt. Gox Saga Continues

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It is one of the biggest cryptocurrency hacks of all time and still remains the biggest Bitcoin (BTC) hack the world has ever seen. The 2011, a security breach on Mt. Gox’s platform, the now-defunct Japanese cryptocurrency exchange, saw 850,000 Bitcoin stolen. Although 200,000 BTC have since been recovered, the subsequent closure of the exchange in 2014 left 24,000 creditors in its wake. Eight years later, the story continues with its villainized ex-CEO, Mark Karpeles, at the forefront and creditors still in the dark as to what a payout agreement…

Brian Kelly Says Next Target for Bitcoin is $6,000, With Crypto Markets Bottoming

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Brian Kelly, the founder and CEO of digital currency investment firm BKCM LLC, said that the next Bitcoin (BTC) target is going to be $6,000, CNBC reported on April 2. During an interview on CNBC’s “Futures Now” show, Kelly stated that “probably a reasonable target [for Bitcoin] is close to $6,000 for this move.” Kelly’s statement comes in the wake of a price surge elast night when the leading coin skyrocketed by over 15 percent and broke the $5,000 price mark for the first time since last November. Kelly suggested…

‘We Do Not Need Regulation for Blockchain’

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Austrian Minister for Digital and Economic Affairs, Margarete Schramboeck said that “we do not need regulation for blockchain,” technology-focused media outlet Trending Topics reported on April 2. Schramboeck — who previously served as CEO of major Austrian fixed and mobile network operator A1 Telekom Austria — delivered her comments during the ANON Blockchain Summit discussion panel dedicated to “The role of government in the age of blockchain”. Speaking about the development of appropriate regulations towards blockchain, the Minister said that “Europe has a strong tendency to overregulate. […] And then…

Global Blockchain Applications in Telecoms to Generate $1.37 Billion by 2024: Report

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Global blockchain applications in telecom will generate $1.37 billion in revenue by 2024, according to a press release by Research and Markets published on April 2. The report, dubbed “Global Blockchain in Telecom Market Forecast up to 2024,” Irish global market research store Research and Markets forecasts blockchain adoption in telecoms to grow at a compound annual growth rate (CAGR) of 77.9 percent during the forecast period. According to the report, blockchain growth in telecoms will be based on a number of key factors including rising security concerns, demand for…

Global FOMO Primes Bitcoin for 40% Surge

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Bitcoin is primed for a bull run to $7,000 later this year, says a major global asset management and financial advisory company in comments early Tuesday morning. DeVere: Crypto Winter is Over & Bitcoin Will Boom Nigel Green, founder and chief executive of DeVere Group, a $10 billion financial advisory and wealth management firm for high net worth individuals, says crypto winter is over: “I’m now calling that the market has bottomed and the so-called crypto winter has come to an end. I believe Bitcoin will now move higher over…

Ernst & Young Argues That Crypto Exchange QuadrigaCX Should Be Placed in Bankruptcy

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Big Four audit firm Ernst & Young (EY) has argued that the now-shuttered Canadian crypto exchange QuadrigaCX should be placed in bankruptcy instead of being restructured as part of ongoing creditor protection proceedings. EY proposed the course of action in its “Fourth Report of the Monitor” filed with the Supreme Court of Nova Scotia on April 1. As previously reported, QuadrigaCX reported it had lost access to its cold wallet holdings following the death of its founder, Gerald Cotten, in December 2018 — Cotten having ostensibly been the sole person…