Day: May 26, 2019

Bitcoin Dips Below $8K Again as Top Altcoins See Mild Losses

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Sunday, May 26 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) falls under the $8,000 mark again. Market visualization courtesy of Coin360 Bitcoin is down less than one percent on the day, trading at $7,990 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin has seen almost no net change, up about a fraction of a percent. Bitcoin 7-day price chart. Source: CoinMarketCap Ether (ETH) is holding onto its position as the largest altcoin by…

Institutions, Politics, Business and Society

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Between May 23 and 26, 2019, the European Union’s citizens are renewing their continental parliament. Among the countries that will participate in the poles is Italy (voting on May 26) — one of the founding members of the EU, alongside France, Germany, Belgium, Netherlands and Luxembourg. Due to the very nature of cryptocurrencies, it’s tough to get a correct figure of the actual penetration of these technologies in a single country. However, relying on some proxies — as in the chart below — it is likely that the Bel Paese…

Fund Manager Discusses Three Factors that Will Trigger Next Bitcoin Rally

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The bitcoin price has slipped by almost 5.5 percent from its yearly high at $8,388 and could be in for a massive downside correction. But that has not deterred a prominent fund manager from projecting a bullish case for the world’s largest cryptocurrency. Brian Kelly, the founder of BKCM, LLC, a New York-based digital currency investment firm, said in an interview that bitcoin is ready for another breakout action owing to three three core fundamentals: institutional adoption, retail anticipation, and supply cut. He explained that people were bullish because big financial…

BCH May Have Sustained $1.3 Million+ Double Spend: BitMex Research

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Following its hard fork on May 15, bitcoin cash (BCH) appears to have experienced a two-block chain reorganization resulting in a 3,392 BCH (about $1.35 million at press time) double spend. The claim was made in a report released by the research arm of cryptocurrency derivatives exchange BitMex on May 24. Per the report, the recent BCH hard fork experienced three interrelated issues. Firstly, an apparent bug evidently exploited by an attacker right after the hard fork. The attacker was able to “broadcast transactions which met the mempool validity conditions…

Franck Muller Releases Luxury Watch With Bitcoin Cold Wallet Functionality

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High-end Swiss watchmaker Franck Muller has partnered with alternative assets investing firm Regal Assets to release the bitcoin (BTC) storage watch “Encrypto,” according to a report by Cointelegraph Brasil on May 23. In addition to being a high-end fashion accessory, with a price ranging from $9,800 to $50,600, the watch reportedly also functions as a cold wallet for BTC. The watch is reported to be engraved with a public address on its dial and comes paired with a private key on a USB drive. According to the firm, the “deep…

What Will It Take to Regulate Crypto Exchanges?

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Konstantinos Stylianou is an assistant professor at the University of Leeds School of Law, and a visiting scientist at the Brown University Department of Computer Science. Shortly after Bitcoin SV was delisted from Binance, CoinDesk advisor Michael Casey published an insightful op-ed discussing whether the delisting amounted to censorship (it doesn’t), whether exchanges should be held to high standards of neutrality (they should) and whether regulation is necessary to achieve this result (it is). The idea is that because major exchanges play such a crucial role in the industry (Casey…

Will Bitcoin’s Volatility This Month Hinder the Future of an ETF?

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On May 17, bitcoin’s (BTC) price experienced a “flash crash,” dropping to $6,400 within minutes, which was triggered by a 5,000 BTC sell-off — equivalent to around $35 million at the time. An individual investor, speculated to be a whale — an investor holding a significant amount of bitcoin — is said to have placed a massive sell order on Bitstamp, a major bitcoin exchange based in Europe. The sell order caused the price of bitcoin on Bitstamp to briefly drop to $6,400, which then led contracts on BitMEX, popular…

Florida Creates a Task Force to Investigate Blockchain’s Economic Benefits

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Florida Creates a Task Force to Investigate Blockchain’s Economic Benefits May 26, 2019 by Art Rozenbaum The State of Florida will establish a state task force charged with investigating the benefits and costs of blockchain technology, as well as “requiring the task force to develop a specified master plan for fostering the expansion of the blockchain industry in the state”. Also read: Blockchain ‘Re-orgs’ – Are They Good or Bad for Bitcoin Security? Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts The state legislature set the scene for…

Bitcoin (BTC) Price Weekly Forecast: Bulls Preparing For Larger Rally

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There is a strong resistance forming for bitcoin near the 8,200-8,300 area against the US Dollar. The price is placed nicely above the $7,840 and $7,600 support levels. There is a crucial contracting triangle forming with resistance near $8,200 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is likely to break higher and surge once it clears the key $8,300 resistance area. Bitcoin price is holding gains above $7,800 and $8,000 against the US Dollar. BTC seems to be setting up for a monster…

Ethereum (ETH) Price Sighting Significant Bullish Break Above $265

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ETH price seems to be trading in a broad range below the $265 resistance against the US Dollar. The price recently recovered after testing the $230-231 support area. There is a major contracting triangle forming with resistance at $260 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair remains well supported on dips and it is likely to break the $265 and $270 resistances. Ethereum price is preparing for the next big move versus the US Dollar, similar to bitcoin. ETH could rally strongly once it clears…