Day: August 1, 2019

U.S.: Legislation Realizes Bitcoin Is Harder To “Ban” Than They Thought

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Despite the fears of some that regulations would be the reason why cryptocurrency falls, and the “bubble” pops, an article by Forbes published on July 30th, 2019 reports that U.S. lawmakers have finally concluded that this wouldn’t be possible. Even with various governments around the world expressing their disapproval, or straight up making trading illegal, these attempts at restriction have typically proved to be ineffective. Conclusion Made During Congressional Hearing The realization that trying to ban bitcoin would be easier said than done was made earlier this week on Tuesday…

Fed’s Rate Cuts Likely to Affect Bitcoin Price, Here’s How

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Weaker USD may be good news for Bitcoin price which could pick up more because of the quarter-percent rate cut. The move has been seen as preventative by economists but could also be a catalyst for the next financial crisis. Bitcoin price has been pretty much steady ever since it posted its 2019 high of $13,880 on June 26. From that point, the market has been on a recession with some short-termed jumps. This kind of market is not really interesting for day traders because there are no wild jumps to…

As Bitcoin Price Soars, Some Say It’s Time for Satoshis to Get a Symbol

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While there are many upsides to Bitcoin’s bullish price momentum, its impact on the coin’s denomination as a currency unit may not be one of them. As a Quartz article published on August 1 notes, with Bitcoin (BTC) currently circling $9,950, retail buyers are faced with the prospect of forking out a figure such as 0.0009950 BTC for their deli sandwich.  Satoshi: an easier unit to deal with? With Bitcoin trading at such a high price, the cryptocurrency’s potential use for everyday retail payments faces not only the often-discussed quandary…

Bitcoin Price on the Rise After First Fed Rate Cut Since 2008

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View Bitcoin could rise to $10,500 in the next 24 hours or so, as the 4-hour chart is looking more bullish. A break above $11,120 is needed to revive the short-term bullish outlook, though. Some expert believe the just-announced U.S. Fed interest rate cut could bode well for BTC in the long-run. Bitcoin (BTC) has eked out moderate gains amid the U.S. Federal Reserve’s announcement of its first rate cut in over a decade. The top cryptocurrency by market value is currently trading at $9,950 on Bitstamp, representing a 2…

Malta Business Registry Will Adopt Blockchain, Gov’t Official Confirms

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Junior Minister for Financial Services, Digital Economy and Innovation in the Government of Malta Silvio Schembri announced that the nation’s business registry (MBR) will employ blockchain, local financial service firm Zeta reports on July 31. First blockchain-based government agency? Per the report, when making his remarks at the Prime Minister Dr. Joseph Muscat’s inauguration of the new premises of the MBR on June 28, Schembri also claimed that the initiative will create the first government agency to be run on a blockchain-based system and artificial intelligence.  The news has been…

Bitcoin and Ether Market Update: August 01, 2019

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Total crypto market cap added $11 billion to its value since Monday, July 29 and now stands at $274.9 billion. Top ten coins registered mixed results for the last 24 hours with Litecoin (LTC) being the best performer with 5.9 percent of gains while Bitcoin Cash (BCH) lost 2 percent. At the time of writing bitcoin (BTC) is trading at $9,989 on the Bitstamp daily chart, while ether (ETH) stands at $213 and Ripple’s XRP moved to $0.315. BTC/USD Bitcoin almost broke below the $9,000 support line on Sunday, July…

Adult Entertainment Platform SpankChain Launches Crypto Payments Processor

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Ethereum-based adult entertainment platform SpankChain has launched a cryptocurrency payments processor together with two new partners. An announcement published on July 31 reveals that the new service — dubbed SpankPay — is being launched with its first two integration partners: the adult entertainment industry fan platform JustFor.Fans and SkypPrivate, an anonymity-focused service that connects models and their clients via Skype and Discord. The Adult Entertainment Space Goes Blockchain SpankPay will enable users to use a host of cryptocurrencies — including BTC, ETH, LTC, Zcash, Monero and others — for instant…

Huobi Announces Its Wallet Be ‘Baking’ Tezos With XTZ Support Coming

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The wallet provided by cryptocurrency exchange Huobi will support Tezos (XTZ) native tokens and baking, the wallets official Twitter account announced on July 31. Huobi Wallet to support Tezos In the aforementioned tweet, Huobi Wallet announced that it will support the Tezos native token and its Proof of Stake (PoS) staking counterpart — baking — in the near future. Part of the announcement reads: “Thrilled to announce that Huobi Wallet will be a #Tezos baker and support #XTZ soon.” A self-amending PoS blockchain The tweet also explains that Tezos is…

Samsung Galaxy S10’s Blockchain Wallet Incorporates Pundi X’s XWallet App

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Samsung Galaxy S10 users will now be able to integrate Pundi X’s XWallet app with their Samsung Blockchain Wallet. Users will be able to shift their crypto holdings from Samsung Blockchain Wallet to XWallet which they can use as a direct mode of payment with Pundi X’s global payment ecosystem. Samsung has recently rolled out its latest Galaxy S10 with built-in Blockchain Wallet and XWallet will become the first Fintech app of Samsung’s blockchain ecosystem. “We’re excited to be part of Samsung’s growing adoption of blockchain technology into their products,”…

Bitcoin Price On Its Way to Recovering, Similar Situation Paved a Way to $20k

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Even though yesterday Bitcoin passed its psychological level of $10k, it seems that it is still too early to celebrate. The price tested again the $10,200 resistance area and it is currently correcting lower. However, at the time of writing the price went up again for 2.23% to $9,981.72. And while a negative monthly close looks likely, the long-term outlook will remain bullish as long as prices are held above the 200-day moving average (MA), currently at $6,417. Also, despite the monthly loss, the bullish structure on the long-term chart…