Day: May 29, 2019

Bitcoin and US Stock Market Both See Minor Losses

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Wednesday, May 29 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) still holds over the $8,000 mark, with minor gains on the day. Market visualization courtesy of Coin360 Bitcoin is over .5% down on the day, trading at $8,658 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up about 8.55%. Bitcoin 7-day price chart. Source: CoinMarketCap As Cointelegraph reported earlier today, the number of wallets holding between 1,000 and 10,000 bitcoin (BTC) has…

Bitcoin Price Eyes Longest Monthly Winning Run Since 2017

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View With 63 percent month-to-date gains, BTC looks set to register its longest monthly winning run since August 2017. The falling channel breakout seen on the monthly chart favors a rally to key Fibonacci resistance of $9,442. BTC has pulled back from one-year highs hit earlier this week. The cryptocurrency, however, remains on the hunt for a near-term move above $9,000, as the daily chart pennant breakout confirmed on Sunday is still valid. The short-term bullish case would weaken if the price drops below $8,000. Bitcoin (BTC) is on track…

Bitcoin Valued for $11,600 on Grayscale Bitcoin Investment Trust

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Bitcoin has gone through a mild decline throughout the past 24 hours, losing about $200 of its value. However, the Grayscale Bitcoin Trust (GBTC) still trades at $11.44 per share, putting the price of Bitcoin upwards of $11,600. Even though Bitcoin price went through small decline throughout the past 24 hours, it seems that it didn’t bother Grayscale Bitcoin Trust (GBTC) that currently trades at $11.44 per share, putting the price of Bitcoin upwards of $11,600. Is this a signal that institutional interest is mounting up or just a coincidence?…

Bitcoin Price to Explode Violently Rushing Past $20,000

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Photo: Unsplash Current Bitcoin price rally could soon retest the all-time high of $20,000. The head of operations at OKEx, a Malta-based cryptocurrency exchange called $20,000 a “conservative prediction.” According to him, a majority of the speculators will hold their long positions now that Bitcoin is rising. The token has rebounded by at least 180% from its bottom of $3,120 in just 163 days. He explained: “$20,000 is a conservative prediction for Bitcoin price this year, as I said last year. The rally won’t stop here since more institutional investors…

Big Business The Answer to Bitcoin Price Boom and Adoption: Bitpay CCO

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The price of Bitcoin may be creeping up to the heights last seen in December of 2017, however, the belief of Bitpay’s chief commercial officer, Sonny Singh, is that the value of the major cryptocurrency will really start to soar when big businesses gets fully involved. Unlike the speculative rally that was seen in 2017, this latest rebound from a bearish market has a much stronger institutionalized base with adoption from regulators, companies and governments in much more abundance. Singh is of the opinion that business interest and endorsement of…

Rakuten Brings in Compliance Partner for New Crypto Exchange

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Japanese e-commerce giant Rakuten, has partnered with blockchain analytics firm CipherTrace to help ensure compliance for its soon-to-go-live cryptocurrency exchange. CipherTrace announced Wednesday that it will help ensure sound anti-money laundering (AML) processes are in place for the firm’s Rakuten Wallet exchange platform, which is based in Tokyo. Rakuten Wallet started accepting account registrations last month from those who have an account at Rakuten Bank or who already have a Rakuten member ID. It is yet to open the platform for the wider public. “Regulatory compliance and anti-money laundering protections…

Rakuten Wallet Partners With CipherTrace to Assure Safety of Its Upcoming Crypto Exchange

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A subsidiary of Japanese e-commerce giant Rakuten, Rakuten Wallet, has partnered with blockchain security firm CipherTrace to assure Anti-Money Laundering (AML) compliance for the company’s upcoming crypto exchange. The development was announced in a press release shared with Cointelegraph on May 29. CipherTrace — which develops cryptocurrency AML, forensics and regulatory monitoring solutions — will work on improving the safety of Rakuten Wallet’s investors as well as the protection of the integrity and compliance of the exchange. Dave Jevans, CEO of CipherTrace, commented on the cooperation: “We have made significant…

BitPay CCO Believes Big Business Will Push Bitcoin’s Price Even Higher

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A senior executive at cryptocurrency payments processor BitPay told Bloomberg on May 29 that bitcoin (BTC) will only expand higher from its current price. Speaking in an interview with Bloomberg TV, the company’s chief commercial officer, Sonny Singh, said it was business interest and endorsement of cryptocurrency that was fuelling the current market-wide bull run. “You’re starting to see that these currencies have real use cases around the world, and it’s making people really excited now because they can see the light at the end of the tunnel for these…

Proposal to Lower DAI Stability Fee by 2% Executed

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The decision to lower the so-called stability fee for MakerDAO’s Ethereum blockchain-based decentralized stablecoin DAI by 2% has been executed on May 28. The original vote for Maker (MKR) token holders was announced on the organization’s blog on May 17, with a proposal to decrease the stability fee by 2% to 17.5% per year. According to the announcement, the need to decrease the fee was discussed during the MakerDAO governance call that took place on May 16. However, the proposal originally failed, as it did not get the number of votes required to reach…

U.K. Exchange Coinfloor Is Getting Paid to Help Crypto Firms Access Banking

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Coinfloor, the U.K.’s longest-running crypto exchange, has teamed up with electronic money institution (EMI) Enumis to deliver bank-like accounts to crypto firms, a perennial pain-point across the industry. Under the partnership, Enumis will pay Coinfloor a fee for referring reputable crypto-facing businesses that successfully set up current accounts (the U.K. equivalent of checking accounts). “Being insiders in the crypto space we are aware of crypto companies operating as good and compliant custodians and so now we will vet and review these and recommend them to Enumis for onboarding,”  Obi Nwosu,…