Bitcoin Falls 30% from Highs

Regardless of a 30% price correction on Bitcoin, analysts are still bullish on the coin. On Saturday, BTC dropped 8%, and cynics believe that the rally towards a record all-time high is now over. Bitcoin surged over the past two weeks, establishing an M-top at $13,177 and $13,739 before dipping to $9,600. Despite the drop, the majority of traders are expecting the digital assets to retrace to the 50% and 61.8% Fib retracement level, which is close to the CME futures gap. Equally, the coin has dipped out of the…

Central Banks to Hedge Dollar Risks with Bitcoin, Pompliano Predicts

Every central bank will be buying Bitcoin (BTC) to hedge risks to the United States dollar, according to a forecast by major crypto bull Anthony Pompliano. In a tweet on Aug. 1, Pompliano, co-founder of asset manager firm Morgan Creek Digital Assets, noted the recent news that central banks made the largest historical acquisition of gold. As reported by The Financial Times, global central banks purchased a record of $15.7 billion in the first half of 2019 in order to diversify their reserves from the U.S. dollar amid global trade…

ICE CEO Reveals Bakkt Bitcoin Futures Launch is Just Around the Corner

According to the CEO of ICE, Bakkt’s parent company, the launch of the firm’s physically settled Bitcoin futures, is on the horizon. The CEO has said that they are waiting for NYFDS approval. Bakkt, a Bitcoin futures provider, is currently concluding plans to officially launch its operations very soon. This was revealed by the firm’s leadership on Thursday, the 1st of August, 2019. Jeffrey Sprecher, the CEO of Intercontinental Exchange (ICE) – Bakkt’s parent company – disclosed this during a quarterly earnings call. According to him, one of the reasons…

Celsius Is the Fastest Growing Crypto Lender — $2.2B in Loans

Cryptocurrency lending and borrowing platform Celsius Network has topped $300 million in coin deposits in the course of 12 months and completed over $2 billion in coin loan origination, according to a press release published on Aug. 1. “Fastest growing lending platform” Since July 2018, when the Celsius started lending operations, it has originated more than $2.2 billion worth of coin loans and surpassed $300 million AUM in customer deposits and collateral from loans under management. In total, Celsius has completed over 160,000 coin loans trades and distributed over $3…

Andorra Telecom Inks New Partnership to Run Blockchain Node

Andorra Telecom has entered into partnership with Spanish digital economy-focused non-profit Alastria to integrate blockchain technology into its internal processes, Spanish-language news outlet Diari d’Andorra reported on Aug. 1. Alastria is a consortium of over 800 non-profit organizations that launched Spain’s first national multi-sector blockchain network in a bid to facilitate the development of digital economy through blockchain. “To reinforce technological pillar” Alastria will enable Andorra Telecom to deploy its blockchain network with its own node. Jordi Nadal, director general of Andorra Telecom, said that “the agreement with Alastria allows…

Blockchain Adoption Takes Off in Airlines, Aviation Industry

In an era in which catching a flight is easier than renting a car, and an estimated 40 million flights will occur this year alone, it is understandable that competition is fierce, and even the smallest advantage may be the difference between leading the industry and being forced into an unwanted merger. Last year, Cointelegraph discussed the potential benefits the blockchain industry can have for airlines. Fast-forward 12 months and the waves this technology is making not only for airlines but also air travel and the aviation industry as a…

Driven by Market Demand, UltrAlpha Introduces Professional Asset Management Services to Digital Asset Space

UltrAlpha, a professional digital asset management service platform, announced the public sale of its native platform token (UAT) starting from August 12, 2019. With Han Liu, former VP at a $200B+ hedge fund giant as CEO, and Christina Jin, Co-founder of Ankr Network as CMO, UltrAlpha is designed to leverage the deep experience from both traditional finance and blockchain industries, and bring in a broad range of investment/trading products as well as fund admin services to different participants in the digital asset management market. Asset Management – Increasing Market Demand…

Bitcoin Price Holds $10,000 as US Stock Market Sees Minor Uptick

Bitcoin (BTC) price climbed back above the $10,000 mark again while the top 20 are seeing mostly red on Aug. 1.   Market visualization courtesy of Coin360 Bitcoin price is currently up by 1.06% on the day, trading at around $10,034 at press time, according to Coin360. Looking at its weekly chart, the coin is up by about 2.68%. Bitcoin 7-day price chart. Source: Coin360 As Cointelegraph reported earlier today, Raoul Pal, a former head of equities and equities derivatives at Goldman Sachs UK office and the founder of Global Macro…

Hong Kong’s Flagship Airline Cathay Pacific Uses Blockchain in ULDs

Hong Kong’s flagship airline Cathay Pacific has introduced the first blockchain project to manage unit load devices (ULDs). Cathay plans to roll out the tech across the entire network The new project intends to eliminate paper-based processes by implementing a blockchain application that allows to instantly manage ULDs through a smartphone, according to a report by air cargo publication Air Cargo News on Aug. 1. Cathay, a founding member of major global aviation alliance Oneworld, reportedly launched its blockchain ULD project in July, targeting first transactions in Hong Kong and…

BitPay Says It Has ‘Paused’ Processing Bitcoin Payments in Germany

Bitcoin (BTC) and Bitcoin Cash (BCH) payment processor BitPay confirmed that it suspended its operations in Germany in an email sent to Cointelegraph on Aug. 1. BitPay: “We have paused operations in Germany” In the aforementioned email, a BitPay PR rep. Jan Jahosky cited regulation coming into force next year in Germany as the reason why the company decided to suspend its services in the country.  The firm added that it is currently evaluating adding support for Germany again in the future. BitPay spokesperson told Cointelegraph:  “Germany has publicly stated…