Day: July 19, 2019

Bitcoin Mining Helps Oil Companies Reduce Carbon Footprint

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Natural gas acquired as a byproduct of oil extraction has become synonymous with wasted energy. In certain areas, drilling companies are unable to find a profitable market for the excess fuel. It’s often vented into the atmosphere. Startups are now offering on-site systems that utilize the surplus to mine cryptocurrencies. This new business is growing in regions where shale oil and gas extraction are major industries. Also read: Georgia Exempts Bitcoin From VAT to Become the Next Country to Affirm Its Currency Status Fossil Fuels Aren’t Going Anywhere At least…

$8,000 BTC a Buy with $20,000 Bitcoin Price Boom in Play, Says Analyst

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The price of bitcoin has been see-sawing since hitting the $13,000-mark in late June as traders believe that the cryptocurrency could witness a significant pullback in the 30 percent to 40 percent range. But one analyst believes that it would be a good idea to buy bitcoin futures if the crypto asset witnesses such a major pullback. BTC’s pullback will be followed by an upswing John Kolovos, chief technical strategist at New York-based Macro Risk Advisors, told Bloomberg in an interview that bitcoin is currently undergoing a correction, but not…

Bitcoin an ‘Unstoppable Force,’ US Congressman Tells Crypto Hearing

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Bitcoin’s (BTC) plight in Congress has seen attention focus mainly on naysayers, but this week’s hearing also saw United States politicians accept it was always beyond their control. ‘Governments cannot stop this innovation’ During testimony on July 17, U.S. Congressman Patrick McHenry, who represents North Carolina’s 10th District, told lawmakers directly that attempts to stop Bitcoin were futile. “The world that Satoshi Nakamoto, author of the Bitcoin whitepaper envisioned, and others are building, is an unstoppable force,” he said. McHenry runs in sharp contrast to other Congressmen making the headlines…

Binance Jersey Lists Exchange’s New UK Pound-Backed Stablecoin

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The Jersey arm of Binance has listed the cryptocurrency exchange’s own British pound-backed stablecoin. Binance announced Friday that Binance GBP (BGBP) is being offered on the fiat-to-crypto platform due to trader demand for more stablecoin options. “There has been an overwhelming demand in the market and Binance community for more stablecoin diversification, including a GBP-pegged stablecoin, and listing BGBP is in response to it,” said Binance CFO Wei Zhou. Binance Jersey launched back in January to offer trading in bitcoin and ethereum against the British pound and the euro. Jersey is a a British self-governing dependency.…

US Regulator to Probe BitMeX Cryptocurrency Exchange: Bloomberg |

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The US Commodity Futures Trading Commission is going to investigate cryptocurrency derivatives exchange BitMEX, according to sources cited by Bloomberg. The regulator would focus on whether or not BitMEX, a Seychelles-based firm, has been offering services to the American citizens. The exchange lets people make big bets on the cryptocurrencies with as much as 100-times margins. The CFTC considers cryptocurrencies like bitcoin as commodities, which brings companies like BitMEX – that offers futures and other crypto-based derivatives trading services – under its jurisdiction. Bloomberg reached BiMEX for further clarification and received…

Bundesbank Head Says Don’t Suppress ‘Innovative Concepts’ Like Libra

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The head of Germany’s central bank Jens Weidmann spoke in favor of Facebook’s Libra during a recent G7 event. Bundesbank head warns against suppressing innovation Weidmann, Bundesbank President and the Governing Council member of the European Central Bank, argued that global regulators should not suppress the project in its infancy, according to an email newsletter in a shared by eToro senior market analyst Mati Greenspan on July 19. According to the letter, Weidmann reportedly supported the Libra project during a recent G7 meeting, arguing that digital currencies such as Libra…

Crypto Exchange BitMEX Under Investigation Over US Users: Bloomberg

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The US Commodity Futures Trading Commission (CTFC) has launched an investigation against the cryptocurrency exchange BitMEX, Bloomberg reported today. Probe on US customers According to Bloomberg, BitMEX is not registered in the United States, and the CFTC is probing whether the Seychelles-based crypto exchange has broken the rules by giving access to US users to trade on its platform. As the regulator considers cryptocurrencies like Bitcoin as commodities and the CFTC has jurisdiction over futures and derivatives based on them, crypto exchanges have to comply with the country’s regulation to…

Bakkt Will Finally Start Bitcoin Future Testing! Will It Impact Bitcoin Price?

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Bakkt has announced that already on Monday they will launch user acceptance testing for its Bitcoin Futures. The crypto community is wondering whether it will impact Bitcoin price. The crypto community has been waiting for Bakkt‘s Bitcoin Futures long enough. After many delays and uncertainty, finally, the company has revealed that on July 22, two days after the Apollo 11’s 50 year anniversary, it will launch the user acceptance tests. Recently in a blog post, Bakkt’s COO Adam White explained how Bakkt along with ICE have come to this uneasy…

Short of Target: Bitcoin’s $1K Rally Still Leaves Bear Bias Intact

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View Bitcoin’s short-term outlook will remain bearish as long as prices remain below $11,080 resistance. A break above that level would invalidate bearish lower-highs setup. The bulls may have a tough time forcing a break above $11,080 amid news of BitMEX exchange facing a regulatory probe and talks of harsher crypto regulation. Prices could drop below $10,000 in the next 24 hours with daily chart indicators continuing to report bearish bias. A weekly close (Sunday, UTC) above $12,000 is needed to revive the bullish view. Bitcoin (BTC) has rallied sharply…

$10,800 Now Crucial as Multiple Death Crosses Appear

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Bitcoin (BTC) was coming down from a fresh uptick on July 19 amid rumors United States authorities were preparing to investigate derivatives giant BitMEX. Market visualization. Source: Coin360 Politics and investigations weigh on Bitcoin Data from Coin360 showed BTC/USD targeting $10,000 support at press time Friday, having risen as high as $10,750 in the past 24 hours. On Thursday, as the U.S. Congress met to debate the impact of Facebook’s Libra digital currency, the focus shifted briefly to differentiating Bitcoin from Libra on a technical level. This appeared to boost…