Day: July 20, 2019

$85M of Bitcoin Leaves BitMEX in Single Day in Wake of CFTC Rumor

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BitMEX Sees Massive Bitcoin Outflow Users of BitMEX seem to be running scared. According to a Bitcoin blockchain analysis by TokenAnalyst, $85 million worth of BTC has left the exchange in the past 24 hours, while a relatively mere $12 million worth of the cryptocurrency came in. This implies a negative $73 million flow. To put this in perspective, around half of the days that TokenAnalyst posted “24-hour BTC exchange on-chain flows” for BitMEX, the in and outflows were close to equal, much closer than $12 million and $85 million…

Bakkt Futures to Launch in the Current Quarter

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Managing director and quant strategist at Fundstrat Global Advisors Sam Doctor suggested in a Twitter post published on July 19 that Bakkt’s Bitcoin (BTC) futures contracts will launch this quarter. According to the post, which includes a summary of Fundstrat’s takeaways from the Bakkt Digital Asset Summit held on July 18, the firm’s futures will launch in the current quarter. The launch is set to follow tests announced last month, which are scheduled to start next week. The firm believes that the launch will be a catalyst to accelerate entry…

Bitcoin (BTC) Holding Above $10,800 May Set Stage for Boom

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Bitcoin Spikes 4% in Minutes Out of nowhere, Bitcoin (BTC) has surged higher over the past couple of hours, catching many traders with their pants down as normal. As of the time of writing this piece, BTC trades at $10,900, just shy of the key resistance of $11,000, but located slightly above another important level, $10,800. According to Financial Survivalism, a prominent analyst, the next 24 to 48 hours will be essential to watch for Bitcoin and the broader cryptocurrency market. If we can breakthrough $10,800 & stay there for…

Another Indian Crypto Exchange Shuts Down Operations

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Founder of Indian cryptocurrency exchange Cryptokart Gaurang Poddar announced that his company is shutting down in a LinkedIn post published last week. In his post, Poddar described the shutdown of the exchange as “difficult, given the hard work we’ve put in” but concluded that overall the experience was positive and that he was proud of the platform and seemed intent on remaining in the field, asking “If you know anyone interested in launching their own exchange, please let me know.” Poddar announced that he was looking for opportunities in product…

Bitcoin Buoyed By Free Marketing, Will BTC Prices Double By 2020?

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Bitcoin (BTC) consolidating below $11,200 Iranians turning to Bitcoin Despite deliberate attacks from politicians, Bitcoin as an innovation is an “unstoppable force”. Fearing the unknown, they are unknowingly marketing BTC as an alternative. For now, BTC is steady, but bears are firmly in control. Bitcoin Price Analysis Fundamentals Cryptocurrency investors and traders are in the space to make money, then later for the technology. At least that is what statistics reveal. Bitcoin may be the first of its kind -and a genuinely successful digital asset that continues to transform lives.…

Bank of Thailand Is Open to Discuss Libra, Concerned Over Security

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Bank of Thailand governor Veerathai Santiprabhob said that the institution is open to discussing Facebook’s Libra stablecoin with the company, local media Xinhuanet reported on July 19. Per the report, Santiprabhob made his remarks at the Bangkok FinTech Fair on July 19, pointing out that Facebook had already contacted the central bank many times. He also noted that the institution had established a new team to study Libra’s whitepaper, but their analysis will take time. “We are not going to rush into a decision of Libra as yet,” Santiprabhob reportedly…

Binance’s Boost, BNB Ready for $43 After July 18 Signal

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Binance Coin (BNB) is up 7.1 percent Free airdrop for XLM owners in Binance Binance, amassing $775k after unknowingly staking XLM, will continue staking. Preparing to boost XLM accounts with free airdrops, BNB prices are up 7.1 percent in the last day. Binance Coin Price Analysis Fundamentals Trading in some periphery exchanges can not only be a source of headache because of liquidity issues, but there is also the risk of being swept clean. In H1 2019 alone, losses resulting from cryptocurrency exchange hacking exceeded $210 million. The majority is…

Ethereum (ETH) Bulls Slow Down, Ceiling At $230

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Ethereum (ETH) is down 18.2 percent Set Labs launching an ETH trading robot As a reputable smart contracting platform striving to improve, it’s token, ETH, is technically bullish. Regardless, with dropping BTC prices exacerbated by their direct correlation, the former could drag ETH prices lower. Even so, that is not stopping Set Labs from launching a trading bot. Ethereum Price Analysis Fundamentals Blockchain is an emerging, multifaceted sub-sector. As a conflation of different fields, it is both inspiring and exciting meaning related startups will almost always attract capital. Of the…

Alleged Silk Road Drug Dealer Arrested in the United States

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United States Attorney for the Southern District of New York Geoffrey S. Berman announced the arrest of alleged dark web drug dealer Hugh Brian Haney in a press release published on July 18. Per the release, Haney has been charged with money laundering. He allegedly used cryptocurrency to launder more than $19 million of profits earned selling illegal drugs on the now-defunct darknet market Silk Road. Berman commented to the development: “Today’s arrest should be a warning to dealers peddling their drugs on the dark web that they cannot remain…

Virgin Bitcoin — Most In-Demand Crypto That Is Regulated Differently?

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In a world where the global crypto community continues to face a growing number of regulatory hurdles with each passing day, the term “virgin Bitcoin” is starting to become more common among digital currency enthusiasts. However, it is of utmost importance to clarify what this term actually means and the significance it carries.  According to Dave Jevans, the CEO of CipherTrace, virgin Bitcoins are essentially BTC tokens that do not have a transaction (TX) record associated with them. As a result of this, coins lack a defined attribution history, making…