Day: July 11, 2019

Litecoin Co-Founder Expects A Difficulty Readjustment, LTC Down 14.5%

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Litecoin (LTC) is down around 15% in the past two days. But, LTC is effectively flat in the past 24 hours.  The block reward reduction event, dubbed a “halving”, is rapidly approaching.  After a brutal crash earlier this week, Litecoin has stabilized, finding itself just over $100 at $103 despite an anti-crypto and -Bitcoin tweet from Donald Trump. Its price action has mostly been a byproduct of Bitcoin’s movements, which have been rather bearish after Tuesday’s blow-off top. Litecoin Price Analysis Fundamentals Litecoin is about to experience its next halving…

Litecoin Co-Founder Predicts Doom In August, LTC Down 14.5%

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Litecoin (LTC) down 14.5 percent Halving will see prices drop and miners crashed Charlie Lee is predicting doom. Because of August halving and a high possibility of low prices, many miners will shut down due to losses. In the meantime, LTC is down 14.5 percent. Litecoin Price Analysis Fundamentals Like any other network where consensus is via a proof-of-work algorithm, Litecoin is secure because of miners. Miners, according to many textbook definitions, have the sole purpose of confirming transactions and fortifying the network by committing their computational power. Since gear…

Here’s Why Bitcoin Price Cratered After Smashing Beyond $13,000

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Bitcoin was about to break out to a new high on Wednesday at $13,200, but then suddenly sold off 10 percent in about 90 minutes. What was behind this sudden sell-off? What Goes Up Must Come Down There is a fundamental rule in physics known as gravity. What goes up must come down. There is a corollary to this principle in the securities markets. Securities that rise in a parabolic fashion will fall in a parabolic fashion, and it will be even worse when it comes to bitcoin. The reason…

Bitcoin Price (BTC) Tumbles $2,000 In Few Hours: $10,800 Holds Key

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Bitcoin price started a significant decline from the $13,200 swing high against the US Dollar. The price is down more than $2,000 and it even broke the $11,800 support area. There was a break below a major bullish trend line with support near $12,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The next important supports on the downside are near $11,000 and $10,800. Bitcoin price nosedived by more than $2,000 from well above $13,000 against the US Dollar. BTC is now approaching the next important…

Crypto Market Cap & Bitcoin Down 10%: BCH, Litecoin, ADA, TRX Analysis

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The total crypto market cap failed to continue above $350.0B and declined sharply. Bitcoin price failed to accelerate above $13,000 and declined nearly 10%. Litecoin (LTC) price is down more than 11% and it broke the $110 support area. BCH price declined heavily and broke the $400 and $390 support levels. Tron (TRX) price broke the $0.0320 support and traded close to the $0.0315 support. Cardano (ADA) price is down around 8% and it could soon test $0.0700. The crypto market cap is down more than $30.0B, with strong bearish…

Ripple Price (XRP) Down 10%: Primed For More Losses

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Ripple price started a major decline after it failed to stay above the $0.4000 support against the US dollar. The price declined heavily and broke the $0.3850 and $0.3750 support levels. There is a new connecting bearish trend line forming with resistance near $0.3850 on the hourly chart of the XRP/USD pair (data source from Kraken). The price is currently consolidating and remains at a risk of more losses below $0.3500. Ripple price declined sharply below $0.3750 against the US Dollar and down around 10% similar to bitcoin. XRP price…

Ethereum Price Holding Key Support: ETH, BTC Down 10% From Highs

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ETH price failed to hold gains above the $310 level and recently declined heavily against the US Dollar. The price declined below the main $300 and $295 support levels to enter a bearish zone. There was a downside break below a contracting triangle with support at $308 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now trading above the next major support near the $280 level. Ethereum price declined sharply below the $300 support versus the US Dollar, along with bitcoin. ETH price could recover…

Austria’s FMA Warns Against Unlicensed Bitcoin Investment Scheme

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The Austrian Financial Market Authority (FMA), the nation’s financial watchdog, has warned investors to be wary of Bitcoin Trader, an unlicensed bitcoin investment scheme that promises investors huge profits of $1,460, according to reports on July 10, 2019.  FMA Warn Investors  Per sources close to the matter, Austria’s financial watchdog, the FMA, has made it clear to potential investors of Bitcoin Trader that the platform is yet to obtain a banking license and as such, the project is an illegal cryptocurrency investment scheme. Reportedly, Bitcoin Trader is a crypto investment…

Crypto Exchanges Must Register With Financial Watchdog Next June

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Cryptocurrency exchanges in Canada will be legally required to register with the Financial Transactions and Reports Analysis Centre of Canada (FinTRAC) as of June 1, 2020, according to a notice published on July 10. This requirement will come into effect along with other amendments to Canada’s new anti-money-laundering (AML) laws next year. Crypto exchanges will also reportedly be required to observe Know Your Customer policies and report any suspicious transactions to the Canadian watchdog; this also includes keeping records of their clients and hiring a compliance officer for their platform.…

US SEC Approves Blockstack Token Offering Under Regulation A+

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The United States Securities and Exchange Commission (SEC) has given blockchain-based startup Blockstack the go-ahead to run a $28 million public token offering under Regulation A+, according to a report by The Wall Street Journal (WSJ) on June 10. Blockstack will reportedly launch its token offering online tomorrow, July 11. While other firms have previously taken advantage of Regulation A+ funding, this marks the first time that investors will receive a token, rather than shares in the company. Regulation A+ is an initial public offering (IPO) alternative geared towards startups…