Day: June 26, 2019

Above $13K: Bitcoin’s Price Extends 2019 Gains to New 17-Month High

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Bitcoin’s price has refreshed 17-month highs in the U.S. trading hours with a move above $13,000. CoinDesk’s Bitcoin Price Index is currently trading at 13,020, the highest level seen since mid-January 2018, having surpassed the Asian session high of $12,919 at roughly 17:30 UTC. With the rise above $13,000, bitcoin has taken the cumulative month-to-date gains to 50 percent and the cryptocurrency now looks set to log double-digit gains for the third straight month. Further, BTC is on track to end higher for the fifth straight month – the longest monthly…

Swiss Stock Exchange Asks Central Bank to Issue Stablecoin

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Principal Swiss stock exchange SIX asked the country’s central bank to issue a stablecoin, local media SwissInfo reports on June 26 Per the report, the crypto asset would be used to settle payments on its new digital securities trading platform. The exchange reportedly announced during the Crypto Valley Association conference this week that users of its upcoming SDX platform will be able to swap fiat currency for a new stablecoin. The exchange explained that “SDX member banks will be able to settle their trades and other obligations against tokenised CHF…

What Disney’s Frozen Tells Us About This Mammoth Bitcoin Price Rally

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As the Great Bitcoin Price Rally of 2019 grows even more parabolic, investors and analysts alike are left scrambling for answers. What’s triggering the mammoth recovery? Will this rally end like the 2017 bubble did? Most importantly, where’s the bitcoin price headed next? According to eToro Senior Market Analyst Mati Greenspan, the answer might lie in an unlikely place: Disney’s blockbuster animated feature film “Frozen.” Crypto Analyst: Investors Need to Rewatch ‘Frozen’ Writing in daily market commentary made available to CCN, Greenspan warned that the speed of the bitcoin price’s…

Oxfam Trials Aid Distribution With DAI, Future Use ‘Highly Likely’

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Throughout May 2019, United Kingdom-based nonprofit organization Oxfam International executed a month-long trial that saw MakerDAO’s DAI stablecoin distributed as a means of exchange among citizens of Vanuatu. The Oxfam initiative, named UnBlocked Cash, was conducted in partnership with MakerDAO, ConsenSys and Australian tech startup Sempo. The Australian government also supported the program. Tsunamis, cyclones and volcanic eruptions comprise a constant concern for the citizens of Vanuatu, with WorldRiskReport describing it as the world’s most at-risk nation to natural disaster for five consecutive years. The month-long program saw 200 residents…

Oxfam Trials Aid Distribution With DAI, Future Use ‘Highly Likely’

boss

Throughout May 2019, United Kingdom-based nonprofit organization Oxfam International executed a month-long trial that saw MakerDAO’s DAI stablecoin distributed as a means of exchange among citizens of Vanuatu. The Oxfam initiative, named UnBlocked Cash, was conducted in partnership with MakerDAO, ConsenSys and Australian tech startup Sempo. The Australian government also supported the program. Tsunamis, cyclones and volcanic eruptions comprise a constant concern for the citizens of Vanuatu, with WorldRiskReport describing it as the world’s most at-risk nation to natural disaster for five consecutive years. The month-long program saw 200 residents…

‘Aggressive’ Central Banks Making Bitcoin More Attractive

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The potential interest rate cut by the United States central bank is apparently one of the reasons for the recent surge of bitcoin (BTC), Deutsche Bank exec Jim Reid said in an interview with CNBC on June 26. Reid, the head of global fundamental credit strategy at Deutsche Bank, stated: “if central banks are gonna be this aggressive, then alternative currencies do start to become a bit more attractive.” Reid referenced a recent speech by Fed’s chairman Jerome Powell, who said yesterday that the central bank is considering a cut…

Everything You Need To Know About Cryptocurrency Business In Hong Kong

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Hong Kong is one of the Asian countries that has shown openness towards development of the fintech industry in the country. Cryptocurrency and blockchains are benefiting from the favorable business regime and the number of start-up companies in this field has grown in the country in recent years. What makes Hong Kong stand out from other Asian countries is its favorable regulatory regime and its flexible policies for blockchain and cryptocurrency providers. Some of the crucial points that one needs to know about the cryptocurrency business in Hong Kong are…

Kraken CEO Sees Bitcoin Price at $100K-$1M as Bears Cry Correction

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The price of bitcoin on Wednesday came close to hitting the $13,000 level for the first time since January 2018. While the cryptocurrency could be on its way to reclaim its all-time high of $20,000, its wild bull run is also increasing the probability of an equally primitive bear correction. But that does not concern Jesse Powell of US-based cryptocurrency exchange, Kraken. The chief executive officer said today that he is not anchoring his thoughts on an imminent bitcoin correction. Instead, he is looking at a big picture, wherein the…

Cortex Launches Deep Learning and AI Network for Decentralized Apps

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Cortex has launched a network for decentralized apps powered by artificial intelligence (AI,) according to a news release published on June 26. The company claims this is the first time that AI has been introduced to a crypto network at scale. It is hoped the technology will be used to generate credit reports for the decentralized finance industry and facilitate anti-fraud reporting for exchanges — and Cortex believes the gaming and eSports sector could also benefit from a “diverse range of use cases.” Cortex CEO Ziqi Chen said: “In the near future, we expect to…

Bitcoin (BTC) Crosses $12,000; Market Dominance Hits Two-Year High at 62 Percent

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As Bitcoin (BTC) surged past $12,000 on the morning of June 26, 2019, the proportion of BTC to total cryptocurrency market capitalization rose to a two-year high of 61.9 percent.  Resurgence of Bitcoin The current bull cycle is continuing with extended upward waves with no end in sight. As reported by BTCManager, the current outlook for Bitcoin is vastly different from the previous bull market. Rather than retail hopium, this run is being driven by larger institutions operating in and around the space. Bitcoin’s ability to absorb capital far exceeds that…