Day: May 27, 2019

Bitcoin Price Backs Off 12 Month Highs, But Bias Remains Bullish

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View Bitcoin has retraced slightly from the one-year high of $8,940 reached earlier today. Any pullbacks could be short-lived, however, as buying pressure is currently the strongest in over five months, according to a weekly chart indicator. A pennant breakout on the daily chart indicates scope for a rally to $10,000 in the near-term. On the way higher, BTC may encounter resistance at the key Fibonacci level of $9,442. The bullish case would weaken if prices fall back below $8,000 in the next day or two. Bitcoin (BTC) has pulled…

Bitcoin Hits Highest Price Point in Over a Year, Pushing Toward $9,000

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Monday, May 27 —  following a mild correction yesterday, the crypto markets have seen strong positive momentum today, with bitcoin (BTC) soaring to its highest price point in over a year. Virtually all of the top 50 cryptocurrencies are seeing solid green, as Coin360 data shows. Market visualization courtesy of Coin360 Bitcoin has reported over 9% in growth on the day and is trading at $8,727 by press time. Having briefly dipped below $8,000 yesterday, May 26, the top coin saw a sharp rally kick in towards the evening. Bitcoin…

Cryptopia Liquidator Files for User Data Protection at US Court as Process Continues

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Liquidators of defunct New Zealand cryptocurrency exchange Cryptopia have applied to secure user data stored in the United States as part of refund proceedings, a statement confirmed on May 27. Cryptopia, which suffered a hack in January, has spent months cooperating with law enforcement worldwide in an effort to control stolen funds worth around $16 million. The exchange appointed Grant Thornton to lead the liquidation, which confirmed it had applied for urgent interim relief at the Bankruptcy Court in the Southern District of New York on May 24. The filing…

India’s First Blockchain Powered VoD Platform ‘myNK’ Launches At Cannes Film Festival

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MinersINC unveiled India’s first blockchain powered film VOD platform ‘myNK’ at the Cannes Film Festival on Saturday, May 18, 2019. myNK comprises of a curated library currently consisting of 200+ films and growing – most of which have never before been released into India. Content includes critically acclaimed and award-winning films from festivals including Cannes, Tribeca, Sundance and Berlinale for Indian world cinema lovers for whom the realm of cinema goes beyond Hollywood and Bollywood. The mobile app will officially launch in June.  myNK’s unique blockchain enabled business model will unveil new,…

Bitcoin Whales Making a Splash: Did 9 Transactions Valued at $236m Spark the Market?

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Over the weekend, seemingly for no real reason, Bitcoin took off sharply and started rising towards $9,000 after struggling to break through and stay above $8,000 in recent days and weeks. However, preceding this, a Twitter account known as ‘Whale Alert’ started picking up some major movement on the Bitcoin network as a cumulation of about 9 transactions saw  27,029 BTC worth $236 million get moved. Mostly the moves were between wallets, but one of the transfers was onto an exchange, which gives some interesting insight into what those with…

The Bank-Backed Japanese Exchange With Big Plans

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Japan has been a land of firsts when it comes to crypto, even if “Satoshi Nakamoto” isn’t really Japanese. It’s the country where Mt. Gox — the first major crypto exchange — was based, as well as the first nation to accept bitcoin as legal tender. And last July, it became the first country to host a bank-owned cryptocurrency exchange, when financial services giant SBI Holdings launched the SBI Virtual Currencies (SBIVC) platform. At the time of its launch, SBIVC — called VCTRADE at the time — enabled trades in only XRP, bitcoin…

Public Perceptions of the Bitcoin Spot Market Are Wrong, Says Bitwise

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Today’s bitcoin spot market is “significantly smaller and significantly more efficient” than is generally perceived, argues Bitwise Asset Management. In a white paper presented as comment to the U.S. Securities and Exchange Commission (SEC) on Friday, Bitwise said the quality of the bitcoin spot market and the strength of arbitrage in that market has “improved dramatically” since the start of 2018. The average deviation of bitcoin’s price on the 10 “real” bitcoin exchanges, as measured against the consolidated price, shows a downward trend, indicating increasingly efficient arbitrage between the various…

Bitcoin Price Analysis: BTC/USD Broke Out at $8,233 Level

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Photo: QuoteInspector.com / Flickr Key Highlights: Bitcoin price broke out of the consolidating zone at $8,233 level; BTC is under bullish control; the Bears may pull back the price to reach $8,608 level. BTC/USD Medium-term Trend: Bullish Resistance levels: $9,007, $9,480, $10,014Support levels: $8,608 $8,233, $7,812 BTC/USD is Bullish on the medium-term outlook. Within the period of May 19 and May 26 the crypto was range–bound at $7,812 to $8,233 levels. The momentum of the Bears and the Bulls were at equilibrium. On May 26, the Bulls gained more momentum;…

Bitcoin SV (BSV) Price Gains $1 Billion From a $55 Copyright Application

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By CCN: The holders of Bitcoin SV tokens looked like they were going to have a difficult time after correcting as much as 56-percent to the downside last week. But the price rallied and produced up to 34.76-percent gains in a pump that began on Sunday at 1300 UTC. The asset’s recovery brought its net market capitalization close to $2.08 billion, noting almost a 100-percent growth in a week. Meanwhile, the BSV-to-dollar exchange rate too established a fresh intraday high at $121 on Huobi, up 28.2-percent on a 24-hour adjusted…

Bitcoin, Ether, and XRP Weekly Market Update May 27, 2019

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The total crypto market cap is $22 billion up for the seven-day period and now stands at $269 billion. The top ten currencies are mostly in green for the same time frame with Binance Coin (BNB) and Litecoin (LTC) leading the pack with 18.1 and 19.3 percent of gains respectively. By the time of writing bitcoin (BTC) is trading at $8,764 while ether (ETH) stands at $268. Ripple’s XRP is at $0.412. BTC/USD Bitcoin added $940 to its value on May 19, 2019, and broke above the $8,000 level in…