Day: July 29, 2019

Bitcoin Price Dusts Off Sunday’s Flash Crash to Recover Near $9,500

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Overnight, the bitcoin price flash crashed to $9,100 across major crypto exchanges in the likes of Bitstamp and Coinbase, dropping by nearly seven percent against the U.S. dollar. The bitcoin price flash crashed to $9,100, recovered beyond $9,500 within minutes (source: coinmarketcap.com) The bitcoin price flash crashed to $9,100, recovered beyond $9,500 within minutes (source: coinmarketcap.com) Within minutes, however, the bitcoin price surged from $9,100 to over $9,500, rebounding beyond $9,700 at the day’s peak. Flash crash and quick recovery, what’s next for the bitcoin price? Throughout the past week,…

Bitcoin Eyeing Deep Downside Correction Below $7k: Analyst

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Bitcoin is one step away from testing $6,700 as support, according to prominent analyst DonAlt. The crypto trader on Monday measured the current bitcoin bias on a three-day timeframe, believing it gave better clarity about the cryptocurrency’s expected price behavior. He noted that bitcoin earlier broke out of a 3-D pennant structure – which also appears like a descending triangle pattern – to the downside. The cryptocurrency’s inability to reenter the range, as shown in the chart below, increased its probability to extend its downward trend. Bitcoin Price Eyes mid…

ICO selects first participants for data protection Sandbox

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The use of biometrics to speed up airport passenger journeys, innovations in crime prevention and technological advances in the health sector are among the first projects selected to take part in the ICO Sandbox. Other products and services which will be tested and scrutinised for compliance with data protection law will include innovations in housing, road traffic management, student welfare and tackling bias in artificial intelligence. The sandbox is a new ICO service which will support organisations which are developing innovative products and services using personal data with a clear…

$30M Fortnite Tourney Bodes Well For Future of Bitcoin & Crypto: Analyst

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Bitcoin and Fortnite don’t seem to be a match made in heaven. But, according to one prominent analyst and investor, the success of one will dramatically help the other. Related Reading: Bitcoin Weekly Close Nears as Bears Maintain Control; Will BTC Soon Drop Below $9,000? Fortnite Holds Massive Tourney The seeming Bitcoin- and crypto-curious Epic Games recently conducted one of the largest eSports events to-date. The Fortnite World Cup, sponsored by FIFA, saw tens of thousands descend on massive tennis arena, Arthur Ashe Stadium, to watch hundreds of gamers duke…

Ripple CEO Tells Congress to Avoid XRP From Facebook Libra Smear

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Ripple CEO, Brad Garlinghouse, and its executive chairman, Chris Larsen, posted an open letter to congress on Sunday asking authorities not to paint their company with a “broad brush”. The executive duo paid careful attention to emphasize that while bad actors exist in the cryptocurrency space, many are, in fact, doing their bit to stay compliant: “Many in the blockchain and digital currency industry are responsible actors. We are responsible to U.S. and international law. We are responsible to serving the greater good.” Ripple has so far avoided the long arm of…

Despite Bitcoin Price Correction, Crypto Analysts Hold a Bullish Outlook

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Crypto analysts and experts expect a bright show for Bitcoin price in the future amidst the growing uncertainty in the global economy and several other factors. Over the last two weeks, Bitcoin has been consolidating for most of the time around $10,000. But last week, it dropped this crucial support and dropped below $9600 levels. The Bitcoin price correction looks somewhat imminent as this could further tailspin to even lower levels. At the press time, Bitcoin is trading at $9604 with a market cap of $171 billion. Over the last…

Australia’s Curtin University Launches Cryptocurrency PhD Scholarship Fund

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Curtin University in Australia has introduced a new ‘Cryptocurrency Ph.D. Scholarship Fund’ designed by Curtin data scientists. Through this program, people will be able to donate cryptocurrency to fund Ph.D. students who want to pursue a degree in the fields of crypto blockchain technology, cybersecurity, data analytics etc. This program uses a Web 3.0 payment platform, which will enable real-time payments from donors to the university on both Bitcoin and Ethereum blockchains. The platform has been developed in partnership with Nelnet International and Centrality. Centrality will also let students use…

Bill Miller’s Hedge Fund Floats on the Amazon, Bitcoin Wave Surging 46%

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Bill Miller’s Hedge Fund gained 46% with many attributing the success to the recent surges by Amazon and Bitcoin, as well as strategic investments in other high-performing stocks like Avon Products and ADT. Bill Miller, the legendary investor is bringing his winning experience to the hedge fund business. According to an investor document published by Bloomberg, Miller’s fund that launched three years ago gained 46% in the first six months of 2019. That is enough to make heads turn in the hedge fund industry. A while back, we reported that…

Bitcoin, Ether, and XRP Weekly Market Update July 29, 2019

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The total crypto market cap lost 23.4 billion of its value during the last seven days, and now stands at $267.4 billion. The top 10 currencies are all in red for the same time frame with Bitcoin SV (BSV) and Litecoin (LTC) being the worst performers with 14.7 and 9.1 percent of loses respectively. By the time of writing bitcoin (BTC) is trading at $9,649 while ether (ETH) stands at $213. Ripple’s XRP is at $0.311. BTC/USD Bitcoin closed the trading session on Sunday, July 21, at $10,598 with a…

Bitcoin Flash Crash Proves Whales Are Messing With Us

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The bitcoin price dropped almost $400 in a matter of minutes on Sunday evening before immediately paring losses. The flash crash and quick recovery is an obvious sign of bitcoin whales playing mind games.  While it’s impossible to know exactly what happened, the price action looks like a classic bear trap. A handful of large players initiated a sharp selloff, luring other traders into opening short positions. The whales then immediately started buying, forcing traders to close out those positions at a loss. It’s a game. In this volatile range…