July 2, 2019

Tether Print Hints Bitcoin to Bounce Back After $4,000 Fall

July 2, 2019 boss

That’s right ladies and gentlemen, Bitcoin (BTC) has fallen to $9,800. This marks a 30% decline from the asset’s year-to-date high of $13,800 — a key technical resistance and support on Bitcoin’s long-term chart. Related Reading: Edward Snowden on Crypto and Privacy: Bitcoin is Freedom Because It’s Permissionless As analyst Teddy Cleps points out, this foray under $10,000, the first of its kind in about ten days, puts BTC under an array of key supports: the 21-day exponential moving average (EMA), the $11,700 support, the 89-day EMA, and arguably most…

Bitcoin Price Sharp Drops 30% from 2019 High to Land Near $9,700

July 2, 2019 boss

Since June 23, within a two-week span, the bitcoin price fell from $13,868 to $9,711, demonstrating a sharp correction of nearly 30 percent. The “Real 10” volume of bitcoin, which refers to the total verifiable volume of the dominant crypto asset taken from ten exchanges verified to have real volume above $1 million by Bitwise Asset Management, remains above $2.9 billion, a high figure compared to March. In March, the Real 10 volume was hovering at $300 million with the majority coming from the CME bitcoin futures market and Binance.…

Bitcoin Mining Profits Skyrocketed 24% Last Month, Argo Blockchain Reports

July 2, 2019 boss

United Kingdom bitcoin (BTC) mining operator Argo Blockchain surpassed its own expectations in Q2, the company said in a new report released on July 2. Argo, which previously said it had benefited from the upturn in bitcoin prices, said revenues would continue to improve over previous estimates. “The Company now expects to generate 161 BTC, or GBP1.38m of cryptoassets, in June based on a BTC price of $10,817.16 USD as of 30 June 2019,” the report confirmed. “This is an increase of approximately 101% from the Company’s May mining results…

No, Bitcoin Isn’t Really Selling for $76,000 in Zimbabwe: Analysts

July 2, 2019 boss

Bitcoin traders in Zimbabwe and South Africa are seeing skyrocketing premiums on their bitcoin (BTC), according to a report from financial news outlet Fxstreet on July 2. Amid new capital controls in South Africa and Zimbabwe’s recent ban on local trading in foreign fiat currencies, local traders have reportedly seen asking prices of as high as $50,000 per 1 BTC if they attempt to purchase the coin from abroad. At press time, bitcoin is trading above $10,915 on South African crypto exchange Luno, according to CoinMarketCap data — 10.5% above…

Is Bitcoin Really Selling for $76,000 in Zimbabwe?

July 2, 2019 boss

Bitcoin Price Dips Below $10K With Deeper Losses Likely

July 2, 2019 boss

View Bitcoin has dropped below $10,000 for the first time in 11 days, reinforcing the buyer exhaustion signaled by the weekly chart, as discussed yesterday. The daily chart indicators have turned bearish, while the 4-hour chart is reporting a bearish lower-highs, lower-lows pattern. As a result, the price could slip further toward the former resistance-turned-support of $9,097 (May 30 high) in the next couple of days. A UTC close below $9,097 would invalidate the bullish setup on the daily chart. A high-volume break above the falling trendline on the 4-hour…

Binance to Launch Bitcoin Futures as LedgerX, ErisX Snag CFTC Licenses

July 2, 2019 boss

Binance to Launch Futures In a recent keynote, Binance chief executive Changpeng “CZ” Zhao unveiled a surprising tidbit of news. Speaking to the crowd at the Asia Blockchain Summit in Taipei, which is soon expected to see a monumental debate between BitMEX’s Arthur Hayes and staunch Bitcoin critic Nouriel Roubini, the exchange head revealed that his firm would soon be launching cryptocurrency futures. A slide from Zhao’s keynote can be seen below. The slide shows a preliminary version of the trading platform, which may purportedly allow for up to 20…

More Tether ‘Reflective’ of Real Dollars Coming Into Bitcoin, Says Kraken CEO

July 2, 2019 boss

Bitcoin (BTC) is benefitting from inflows of fiat currency as stablecoin Tether (USDT) increases its supply, the CEO of cryptocurrency exchange Kraken told finance news channel TD Ameritrade Network on July 1. In an interview, Jesse Powell took issue with suspicions about tether due to its ongoing legal battle with the New York Attorney General. “Historically, when you’ve seen growth in the supply of tether, we’ve seen growth in the supply of U.S. dollars coming onto Kraken,” he said. “…I think what you’re seeing with tether is just a very…

Binance Breaks Ground to Announce 20x Leverage Bitcoin Futures Trading

July 2, 2019 boss

Binance will add leveraged futures trading to its cryptocurrency exchange platform within weeks. That’s according to a keynote speech delivered by CEO Changpeng Zhao at the Asia Blockchain Summit on Tuesday. The new feature will allow users to open long and short positions on bitcoin’s price movements with up to 20x leverage. The market for bitcoin derivatives and leveraged trading is clearly exploding. As CCN reported yesterday, crypto derivates platform BitMEX recorded $1 trillion trading volume in the last 365 days. Binance is hoping to muscle in on this demand…

Blockstream Enables Atomic Swaps for Liquid Sidechain Assets

July 2, 2019 boss

Blockchain infrastructure firm Blockstream has launched a new tool that allows users to execute atomic swaps for all assets supported by the Liquid network, according to an announcement published on July 1. The Liquid Network is a federated sidechain on the bitcoin (BTC) blockchain that functions as a settlement and payments network for crypto exchanges, market makers, brokers, and other financial institutions. In addition to its support for privacy features such as Confidential Transactions, the network aims to combat delayed transaction finality on the bitcoin (BTC) network and allow for…