Day: July 30, 2019

CNBC Host Goes Full Bitcoin Maximalist With $55K Forecast After Halving

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Former Bitcoin (BTC) bear Joe Kernen has predicted that the coin could hit $55,000 by May 2020, the date of Bitcoin’s next halving. The Squawk Box co-host appears to have undergone a full conversion to Bitcoin maximalism, surprising his show guest — Fairlead Strategies managing partner Katie Stockton — on July 29 with his forecast that the coin could well see a 500%+ price surge by the time of its next halving. Bitcoin’s planned halving in May 2020 will mean that mining rewards will be reduced by half — from…

Judge Locks Tether Funds from Cryptocurrency Exchange Bitfinex as NY Lawsuit Advances

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The cryptocurrency exchange owned and operated by iFinex Inc, Bitfinex, is still blocked from all monetary transactions with regard to its Tether (USDT) stablecoin reserves due to the ongoing lawsuit led by New York Attorney General. Letita James, the state’s top prosecutor, has accused both the cryptocurrency exchange Bitfinex as well as the stablecoin Tether for violating New York’s law through activities that have allegedly swindled many crypto investors in the State. The Attorney General sued the company in April, claiming that Bitfinex held access to a sum amount of…

Even Bitcoin Bears Think the BTC Price Could Hit New Record in 2020

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Despite the lack of decisiveness in the bitcoin market following the dominant crypto asset’s abrupt drop from $14,000 to $9,500, many analysts – even bearish ones – generally remain confident that the bitcoin price is heading towards a new record high in 2020. The bitcoin price has dropped nearly $5,000 from its yearly high. | Source: CoinMarketCap On CNBC’s Squawk Box, as CCN reported, prominent news anchor Joe Kernen emphasized the imminence of the next halving of the Bitcoin blockchain protocol, suggesting that it could act as a major catalyst…

Bitcoin’s Biggest Wallet Provider, Blockchain, Launches Own Exchange Platform

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Photo: Blockchain / LinkedIn The Blockchain Company popularly known for its services as a Bitcoin wallet provider and blockchain access has just announced the creation of its own exchange platform called The Pit. The platform will enable sales and purchase of cryptocurrency without the need for a third-party exchange. Purported as “the world’s fastest crypto exchange” according to the official website, The Pit is primarily dedicated to the push for global cryptocurrency adoption and is doing this by making sure the use of crypto is as uncomplicated as possible. The…

Countries will Adopt Bitcoin at Some Point: Pompliano

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Countries that embrace bitcoin would be frontrunners in the financial technology space, according to Anthony “Pomp” Pompliano of Morgan Creek Digital Assets. The co-founder & partner told CNBC Squawk Box during a panel discussion that some nation would one day decide to adopt bitcoin. He cited Game Theory, a study of strategic interactions between rational decision-makers. In the case of bitcoin, those decision-makers are the countries that compete with each other to gain an advantage in a particular area. Pomp believes bitcoin is quite like an industry that creates regulatory…

Crypto, Blockchain Hearing at US Senate Banking Committee

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During today’s United State Senate Banking Committee hearing on the regulatory framework for cryptocurrencies and blockchain, Cointelegraph will be updating live with the most important developments.  The July 30 hearing, titled “Examining Regulatory Frameworks for Digital Currencies and Blockchain,” follows the previous hearings in mid-July that examined the regulatory hurdles surrounding Facebook’s Libra. Circle CEO Jeremy Allaire will be a witness today in front of the Senate Committee on Banking, House, and Urban Affairs on behalf of The Blockchain Association, along with Rebecca M. Nelson, a specialist in international trade…

Kraken Rolls Out New Funding Options for 5 Major Fiat Currencies

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United States-based crypto exchange Kraken has partnered with Estana Custody to offer new options for fiat deposits and withdrawals in five major currencies.  New funding options for USD, EUR, CAD, GBP, JPY According to an official announcement from the exchange on July 29, the partnership will bring Kraken’s global customer base access to new funding options for U.S. dollars, euros, Canadian dollars, British pounds sterling and Japanese yen. While the new onramps are not available for “Starter” Kraken accounts, “Intermediate” and “Pro” level traders can access the fiat funding options…

US Congress Holds Hearing on Crypto: Witness Profiles

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Today, on July 30, United States lawmakers will once again gather to debate cryptocurrency and blockchain policy in a hearing dubbed “Examining Regulatory Frameworks for Digital Currencies and Blockchain.” The hearing is scheduled for 10 a.m. EST and will be broadcast live. This time, the U.S. Senate Banking Committee is planning to hold a broader discussion on crypto following the intense, Libra-focused testimony earlier this month. The witness panel will be represented by Jeremy Allaire, co-founder and CEO of payments company Circle, who will speak on behalf of the Blockchain…

Former Wall Street Execs Unveil ‘The PIT’ Exchange to Take on Binance

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Major crypto wallet and blockchain data provider Blockchain.com has launched its own crypto exchange to compete with popular platforms such as Binance. The PIT was built by former execs from Google and Goldman Sachs Named The PIT, the new crypto exchange was reportedly set up by former executives from the New York Stock Exchange, TD Ameritrade, Google and Goldman Sachs, CNBC reports July 30. According to the announcement, The PIT will be available in more than 200 countries, initially supporting 26 trading pairs. Customers will be reportedly able to link…

Bitcoin Price Technical Analysis (July 30): Stuck Between Support and Resistance

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Bitcoin (BTC)trade is currently is trading at $9,565. Although the trend appears to be a downtrend, when looking closely it actually can be seen that the price is stuck in a sideways trend. Resistance level is at $9,627 and support and support is at around $9,400. It is suggested not to take a long position at this price as it is stuck in indecision mode. Wait for the price to either break the resistance or support. Dow Theory According to Dow Theory, the Bitcoin price is in the panic phase.…