Day: June 28, 2019

Crypto Trader Warns of 40% Bitcoin Price Drop Before Monster Bull Run

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Bitcoin was on a massive tear and the parabolic run was unstoppable as the crypto reached $13,000. It has declined since but is up on the weekly timeframe. While many long-term investors are euphoric over this juggernaut ascent, some experienced traders are starting to feel anxious. The trend reversal is so strong that a significant retracement is currently lurking. One popular day trader has a resounding argument that supports this bias. Analyst Opinion on Bitcoin Pullback A respected figure in the CryptoTwitter community named Trader X0 who boasts 13,000 Twitter…

Crypto Markets Are Green Across the Board as Bitcoin Crosses $12,000

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Friday, June 28 — Top cryptocurrencies bitcoin (BTC), ether (ETH), and ripple (XRP) are all in the green, a total turnaround from the sea of deep red on Thursday. Market visualization. Source: Coin360 Bitcoin is currently trading at $12,316 again, around the levels it sank to following the sudden $1,400 flash crash on Wednesday. Bitcoin had continued to sink all the way to $10,380 on Thursday, but is now seeing strong recovery on the day, trending up by around 14%. Bitcoin 7-day price chart. Source: Coin360 The top altcoin and second…

Iranian Authorities Impound 1,000 Bitcoin Mining Machines

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Power officials in Iran have seized 1,000 bitcoin mining machines in two abandoned factories turned into mining farms in the central province of Yazd, Iran. The officials claim the cryptocurrency mining equipment was seized because their operators illegally made use of government-subsidized electricity, according to a Tech2 report on June 28, 2019. Illegal Bitcoin Miners Nabbed  Per sources close to the matter, Iranian officials have impounded at least 1,000 bitcoin mining machines in two abandoned factories that have been turned into makeshift bitcoin mining facilities in the central province of…

Kik Hands Off Defend Crypto Frund to The Blockchain Association

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The Blockchain Association, a collective of advocates involved with the blockchain industry, has taken over the Defend Crypto fund set up by Kik According to an official blog post on June 28, Kik — the company behind Kik Messenger and the kin (KIN) cryptocurrency — believes that the Blockchain Association “will be in the best position to objectively allocate the resources to the highest impact initiatives” and has chosen it to lead Defend Crypto. The announcement also stresses that it will allocate resources for legal initiatives not just for Kik,…

Only 30% of Known Stablecoins Are Live and Operational

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Only 66 stablecoins — 30% of total announced tokens — are actually live and operational, according to a study published by the blockchain research group Blockdata on June 26 The remaining 70%  are either still in development or have shut down entirely. Researchers from Blockdata believe that one consequence of this is that 2019–2020 may see a record high of new stablecoins going live, with 119 estimated to launch in 2019. Researchers also examined possible factors may have led to the closure of failed stablecoins. Failed stablecoins, according to the…

Craig Wright Does Not Have Access to Bitcoin Fortune

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Craig Wright said that he cannot comply with a court order to provide a list of all his early bitcoin (BTC) addresses, Bloomberg reported on June 28  The Australian computer scientist and self-proclaimed Satoshi Nakamoto said that he may not be able to access the coins at all. As previously reported, the United States District Court of the Southern District of Florida issued an order on May 3 requiring Wright to produce a list of his public bitcoin addresses. Wright, however, failed to disclose his bitcoin holdings per court order.…

Michael Novogratz Wishes He Sold More Bitcoin (BTC) 2019 High, But Parabolic Movements are Far From Over

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After bitcoin (BTC) topped out at $13,900, Michael Novogratz of Galaxy Digital revealed he sold a little but wishes he had sold a lot. In an article from Bloomberg, Novogratz is reported to have predicted a $7000-10,000 trading range for BTC, calling a $14,000 top a few days later owing to excitement in the market, June 27, 2019. Sell High, Buy Low Michael Novogratz’s desire to sell his BTC and re-enter at $10,000 is something all investors try to do, but is it wise to predicate an investment strategy? Predicting key…

Binance in Discussions with Facebook Over Libra Coin

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According to CoinTelegraph, one of the world’s largest crypto exchanges, Binance, is in “official” talks with Facebook regarding the latter’s new Libra coin. The exchange’s strategy officer, Gin Chao, told BlockTV yesterday that the company is “very excited” about the Libra project. What we know so far, according to Chao, is that the talks “have largely focused on dealing with infrastructure.” Binance and Libra Coin While the pair’s discussions are in the early stages, it seems Binance is not holding back its desire to work with Libra “as much as…

Golem Launches New Entity Based on Its 2016 Crowdfunding

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Decentralized CPU power developer Golem is spinning off a new entity using funds of the original capital raised in its crowdfunding back in 2016 In a blog post on June 28, Golem Factory CEO Julian Zawistowski announced the launch of a new division called the Golem Foundation, which will purportedly allow Golem to expand its solutions and “potentially increase the value of the entire project.” The Golem Foundation intends to develop some new approaches for its Golem Network Token (GNT), Zawistowski wrote in the post, adding that the initiative includes…

Ethereum Classic Hard Fork and What Will Change

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On June 19, the Ethereum Classic (ETC) community announced that the Atlantis hard fork is now in its testing stage. As Cointelegraph previously reported, the update is scheduled for Sept. and will take place on the block 8.75 million.  Also, as Cointelegraph reported, ETC Labs, which actively contributed to the Atlantis project, will soon introduce another solution for Ether (ETH)/ETC interoperability being part of Metronome Validator Network. This move brings transparency on certain aspects of the upcoming upgrade.  ETC itself was introduced after the DAO attack back in 2016, when 3.6…