Day: May 9, 2019

Bitcoin Price to Hit $7,200 After Demonstrating Bullish Signs?

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Yesterday crypto markets dropped following reports that leading cryptocurrency exchange Binance had been hacked. However, the impact of the developments is minimal, and Bitcoin price managed to hold steady at more than $5,800, continuing the upwards trend towards the $6,000 mark. BTC Holds Above $5,800 A popular analyst has projected that if BTC continues with the upward momentum, its price could soon hit $7,000—a definitive sign that the bullish run has already begun. Currently, Bitcoin price is up marginally at $5,980 after the daily low of $5,800 occurred moments before…

FinCEN Clarifies Money Transmission Regulations Pertaining to DApps

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The United States Financial Crimes Enforcement Network (FinCEN) has issued new guidance that contains its financial regulation policies concerning Decentralized Applications (DApps) on May 9. In the introduction to the guide, FinCEN notes the guide serves to clarify and provide examples to make compliance easier for entities whose activities fall under the purview of the Bank Secrecy Act (BSA). FinCEN defines Dapps as, “Decentralized (distributed) application software programs that operate on a P2P [peer-to-peer] network of computers running a blockchain platform.” FinCEN notes that any DApps which “accept and transmit…

Suspicious Bitcoin Cash Data Points to Volume Manipulation

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By CCN: A single address has sent over 674,000 transactions on the Bitcoin Cash blockchain. The address was just created last month, on April 9th, and is one of a handful of addresses that account for the vast majority of transactions on the fourth-largest cryptocurrency’s blockchain. A Minecraft Mix-Up or Something More Sinister? The address is believed to belong to the owners of Craft.cash, who support both Bitcoin Cash and Bitcoin SV. All of the transactions it sends are functionally worthless, a couple of hundred Bitcoin Cash satoshis. One dollar…

Crypto Mining App Honeyminer Now Available on MacOS

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New Jersey-based cryptocurrency mining startup Honeyminer has made its mining app available on the Apple Macintosh operating system, the firm announced in a blog post on May 9. The Honeyminer app runs in the background, using the central processing unit (CPU) and graphics processing unit (GPU) of users’ computers for mining bitcoin (BTC). The startup claims to include app features such as mining while users’ computer is idle, an activity log with current mining statistics, currencies, and hardware utilized, and withdrawals, among others. While Honeyminer is expanding its offerings, other…

Analyst: Bitcoin Rally Likely to Continue Accelerating as BTC Breaks Above $6,000

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Bitcoin has been able to continue surging higher today and has now broken into the $6,000 region, which many analysts believe is a key region that the cryptocurrency must gain a solid footing within if the notion of an imminent bull run is to be validated. Although the surge above $6,000 was certainly bullish, analysts generally agree that BTC is likely to incur some resistance around $6,400, which may prove to be a difficult level to break above. Bitcoin Climbs to $6,100 as Upwards Surge Continues At the time of…

Overstock’s Blockchain Arm Receives $5 Mln From Chinese Firm Following Delays

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Overstock’s blockchain subsidiary tZero has finally secured a $5 million investment from Chinese investment firm GSR Capital, Overstock announced on its latest earnings conference call on May  9. Following an investment in cash and marketable securities, Overstock evaluated tZero’s worth at $1 billion, which is $500 million less than the company initially projected in August 2018. The new funds represent around 2% of the originally projected investment of $404 million from GSR Capital and Singaporean private equity firm Makara Capital. The initial sum included $270 million for up to 18%…

Is Ripple (XRP) the Liquid alternative of Tether or USDC?

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Ripple (XRP) prices slide 1.7 percent The rollout of xCurrent 4.0 is an opportunity for banks to upgrade and even adopt xRapid That the World Bank and the IMF have Ripple Inc in their reports is bullish. At the core, Ripple Inc is introducing speed, efficiency and cost savings in the fund remittance sector searching for alternatives. Even so, the unregulated nature of XRP is slowing down adoption as prices range within a 4 cents zone. Ripple (XRP) Price Analysis Fundamentals For the extended consolidation, Ripple (XRP) is said to…

PayPal CFO Says Firm Not Interested in Crypto Sector Right Now

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The chief financial officer (CFO) of major payment system PayPal said that the firm is hesitant about getting involved in the cryptocurrency sector in an interview with Yahoo Finance on May 7. Speaking about the company’s future cryptocurrency plans, PayPal CFO John Rainey pointed out that the firm previously allowed its merchants to accept bitcoin (BTC) as a form of payment, but subsequently saw the instability and volatility of the currency. “If a merchant accepted that they would quickly convert it to a more stable currency like the euro or…

Weekly Bitcoin Price Indicator Prints Strongest Bull Signal Since Early 2018

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A technical indicator used to identify the momentum behind asset prices is registering its highest value since the beginning of 2018 when applied to bitcoin, a possible positive sign for the cryptocurrency’s market.  The relative strength index (RSI) takes into account the speed and change in price movements, i.e. momentum, to reveal when the trend of the underlying asset is shifting from bearish to bullish market conditions and vice versa, as well as when it has become overextended. Traditionally, an RSI value above 70 is considered to be “overbought” and…

Ethereum (ETH) Decoupling, Project Has More Monthly Active Developers

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Ethereum (ETH) up 5.3 percent Monthly active developers in Ethereum high at 216 On average there are 216 monthly active developers working on improving Ethereum (ETH) better. That is bullish now that the aim is to transition from Proof-of-Work to a staking system in Serenity. In the long term, ETH is bullish. Meanwhile, prices must close above $190 in a breakout trade. Ethereum Price Analysis Fundamentals The crypto space is vibrant and back to green. Even so, we should note that there is a degree of decoupling between Bitcoin, the…