Day: May 31, 2019

BTC Will Consolidate in $7,000-$10,000 Range

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Michael Novogratz, founder and CEO of cryptocurrency merchant bank Galaxy Digital, has said that he expects bitcoin (BTC) to consolidate in the $7,000-$10,000 range, Bloomberg reports on May 30. Per the report, during a conference call discussing his company’s quarterly earnings, he noted that “on a go-forward basis, bitcoin probably consolidates somewhere between $7,000 and $10,000.” Novogratz also added: “If I’m wrong on that, I think I’m wrong to the upside, that there’s enough excitement and momentum that it could carry through.” Bloomberg reports that Novogratz credits this year’s rally…

Bitcoin Starting to Show Signs Of Local Peak, Crypto Collapse Inbound

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Bitcoin (BTC) may have tapped $9,100 on Thursday, rallying by 5% within minutes, but analysts are starting to fear that the crypto market is cooling… rapidly. The cryptocurrency is now down by 5% in the past 24 hours, finding itself at $8,250 after bouncing off $8,000 in a characteristic bout of volatility. This, in the eyes of countless traders, lends to the conclusion that Bitcoin is peaking in the short-term, and may be poised to collapse. Bitcoin May Be Topping Out Last week, Bitcoin Bravado’s lead analyst, Jack, suggested that…

Global Securities Regulator Seeks Public Feedback on Regulating Crypto Trading Platforms

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Global securities regulation standard setter, the International Organization of Securities Commissions (IOSCO), has published a consultation paper on regulating crypto asset trading platforms (CTPs). IOSCO publicized the paper in an official news release on May 28. According to the news release, IOSCO’s membership regulates over 95% of the world’s securities markets in more than 115 jurisdictions. The activities of the organization aim to develop and promote adherence to an internationally recognized, consistent standard for regulatory oversight and enforcement within the global securities sector. The new consultation paper — entitled “Issues,…

UpBit Exchange Phishing Email Scam Came From North Korea, Source Claims

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Hackers from North Korea were behind a phishing scam targeting users of South Korean cryptocurrency exchange UpBit, Korean-language cryptocurrency news outlet CoinDesk Korea reported on May 29. According to findings by local cybersecurity firm East Security, the scam came in the form of an email sent to UpBit users requesting account information. The pretence was a fake giveaway, with the emails also containing a file called “Event Winner Personal Information Collection and Usage Agreement.hwp,” which would run malicious code when opened. UpBit had alerted traders a day before, warning anyone…

Wei Liu Registered Bitcoin White Paper Copyright

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Photo: The Blue Diamond Gallery Who is Wei Liu? That is probably the question Craig Wright is asking himself every day since second copyright registration for the Bitcoin white paper has appeared on the public catalog of the United States Copyright Office, indicating that a certain Wei Liu is also claiming to have originated the work under the pseudonym Satoshi Nakamoto. The filing is dated May 24, 2019, while Wright’s is dated April 11, 2019. However, we found out who Wei Liu is. CEO of Coinsummer, a crypto market research…

Bitfinex CTO Reveals Stablecoin Tether is Launching on EOS

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By CCN: Speaking to CCN, Bitfinex CTO Paolo Ardoino stated that Tether, the world’s largest stablecoin in market valuation, is launching on the EOS blockchain protocol. The launch of Tether on EOS follows its release on the TRON blockchain network in April. Why tether is operating on EOS In an interview, Ardoino stated that the key motive behind the team’s decision to push for the release of Tether on EOS is to supplement eosfinex. In February, Kasper Rasmussen, the marketing head at Bitfinex, announced the launch of eosfinex, a decentralized…

Japan Officially Approves Bill to Amend National Legislation Governing Crypto Regulation

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The Japanese House of Representatives has officially approved a new bill to amend national laws that govern crypto regulation, Cointelegraph Japan reported on May 31. The bill — which had been prepared by Japan’s Financial Services Agency (FSA) and accepted by the House in mid-March of this year — has been passed by a majority in the House of Councilors plenary session, according to an update today on the FSA’s website. The bill seeks to introduce amendments to two national laws that apply to crypto assets — the Act on…

Collapsed Crypto Exchange Cryptopia Owes Creditors $2.7 Million: Liquidators

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The liquidators of failed New Zealand crypto exchange Cryptopia have released their first report on the firm’s financial situation, revealing that it owes over US$2.738 million to creditors. The appointed liquidator Grant Thornton New Zealand published its report Friday, saying that 69 unsecured creditors are owed at least $1.37 million and secured creditors over $912,000, with an expected deficit of $1.63 million. Secured creditors include Dell NZ and Coca Cola Amatil (NZ). Staff at the firm are owed $207,000 for outstanding salaries and holiday pay, as well as $177,000 in unsecured debt. Grant Thornton…

Bitcoin Price Briefly Hits $9,000 Before ‘Fakeout’ Dump to $8,000 in Minutes

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By CCN: On May 31, the bitcoin price briefly hit $9,000, achieving a new 2019 high in a powerful recovery from around $8,500. Within minutes, the bitcoin price crashed from $9,000 to $8,200, falling as low as $8,000 on Bitstamp. The bitcoin price briefly dropped to $8,000 on Bitstamp, a strictly regulated European exchange (source: cryptowat.ch) Technical analysts generally consider the sudden rally of the bitcoin price and its abrupt dump to be a case of a fakeout breakout fueled by the liquidation of contracts on BitMEX. Was it a…

Bitcoin on Course for Highest Monthly Gain Since November 2013

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Bitcoin (BTC) could close trading in May 2019 more than 70 percent up from the start of the month, surpassing its second-best ever monthly performance. Meanwhile, the top-ranked cryptocurrency continues to enjoy improved technical and market fundamentals with experts calling another bull run to a new all-time high (ATH) in 2019. Bitcoin Could End May 2019 70 Percent in the Green According to a May 30, 2019 tweet by bitcoin trader Josh Rager, BTC ending the month at $8,975 or higher would correspond to its second-best monthly performance in history.…