Day: August 13, 2019

SEC Postponing Decisions on Three Bitcoin ETF Rule Change Proposals Again

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The Securities and Exchange Commission (SEC) again delayed their decisions on all three Bitcoin exchange-traded fund (ETF) proposals that have been waiting for its approval. Two of the three ETF proposals have been filed earlier this year. First is by Bitwise Asset Management under NYSE Arca and second is VanEck/SolidX under Cboe BZX Exchange. To those two, joined Wilshire Phoenix Funds in June, with proposing a fund that shields Bitcoin with Treasury bills. The new deadline for the SEC to make a decision on Wilshire Phoenix is now Sept. 29,…

Currency Wars Bullish for Bitcoin Price? Optimistic Investor Thinks So

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While Bitcoin (BTC) in the wake of the Great Recession, the cryptocurrency has never lived through a macroeconomic imbroglio or geopolitical spats. Related Reading: Goldman Sachs Predicts US-China Trade War to Continue into 2020, Will It Benefit Bitcoin? But, ten years after the recession that shocked the world, Bitcoin is about to experience all the motions of a global crisis. And according to a number of prominent investors and analysts, this can only be good for the price of a decentralized, scarce, digital asset like BTC. Bitcoin to Gain Steam…

Bitcoin Sees 4% Premium in Argentina as Peso Plummets 30%

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Bitcoin (BTC) continues to trade at a premium in Argentina after a sharp currency devaluation sent investors running for a safe haven.  Argentine peso plunges 30% Data from local cryptocurrency exchange Buenbit put Bitcoin trading around $11,750 at press time Aug. 13, compared to around $11,330 on major global exchanges. When a shock defeat of incumbent president Mauricio Macri in the primary elections sparked the rout in the Argentine peso (ARS) on Monday, the Bitcoin premium was higher, implied BTC/USD passing $12,300 on Buenbit.  In USD terms, the peso’s collapse…

Bitcoin is in the Ascending Triangle Shock? Guide to Analyze BTC K-line and Make Profits

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K-line, found by a Japanese rice trader Munehisa, Honma is also known as candlestick, a technical analysis method about the price prediction of financial products like stock, gold, etc. in Asia. K-line consists of three parts: body, upper shadow and lower shadow. The part between open price and close price, drawn into a rectangle, is the body of K-line.   What is Ascending Triangle Pattern? Price bounces between two converging trendlines, the top one is horizontal and the bottom one slopes upward. It is also known as the bullish triangle…

Mining Giant Bitmain Accuses Mangocoin of Exploiting its Brand Name

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Bitmain, the Beijing-based major cryptocurrency mining company, has recently published in an official blog post a the little-known cryptocurrency ‘Mangocoin’ (MGC) has frequently used the ‘Bitmain’ brand name. This was apparently intended to sale the so-called product ‘Bitmain Cloud Miner’ and to promote Mangocoin on its website and applications. Bitmain has formally declared that the company has no affiliation whatsoever with Mangocoin. Bitmain confirmed that the mining hardware development company in no way associated with any of the Mangocoin projects or with the mining devices on its website it is…

Gold Breakout Could Jolt BTC Above $12K, Say Analysts

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Bitcoin (BTC) price remained fairly buoyant on Aug. 13 despite a fresh delay of an exchange-traded fund (ETF) by United States regulators.  Market visualization. Source: Coin360 Bitcoin price unfazed by Bitcoin ETF delay Data from Coin360 showed BTC/USD clinging to support above $11,000 Tuesday, as the fallout of another delay to a Bitcoin ETF hitting the market appeared to impact markets less than ever before. Bitcoin was down 0.22% at press time, while 7% weekly losses contrasted with the cryptocurrency’s best weekly close of 2019 set over the weekend. Bitcoin…

60 Latin American Banks Can Now Use Bitcoin for Cross-Border Payments

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A leading bank technology provider in Latin America is partnering with cryptocurrency exchange Bitex to facilitate cross-border payments over the bitcoin blockchain. “The integration of Bitex into Bantotal program represents a major step in the breakthrough of blockchain technology in banking,” said Bitex Chief Marketing Officer Manuel Beaudroit. Bantotal is a core banking service provider based in Uruguay that services over 60 different financial institutions across 14 different countries. According to a Bantotal spokesperson, an estimated 20 million people use Bantotal’s money management services. “Bantotal is one of the biggest…

Bitcoin Will Never Be a Store of Value. Here’s Why

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Bitcoiners claim that BTC is a store of value, but it doesn’t meet the requirements, according to one fund manager. Source: Shutterstock As the resident bitcoin skeptic at CCN.com, it’s my job to make logical and reasoned arguments against holding bitcoin. Today I argue that bitcoin is not a store of value as some claim, and never will be. It’s not even a hedge. “Store of Value” Does Not Mean What You Think It Means The concept of a “store of value” means that a given object can be exchanged…

China’s State-Controlled Cryptocurrency Is About to be Launched

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China is finally ready to roll out its official virtual currency which is believed to be some middle ground answer to the state’s anti-crypto crusade. Having been on the anti-crypto end for a while now, it might come as a shock to hear that the Chinese government is actually for crypto after all – just not the conventional crypto coins. The China Crypto project started some years back, just when the crypto craze was at its peak. Cryptocurrency had just started gaining wide recognition and so were the illegal activities…

XRP Price Crashes by 40% on Beaxy Exchange After Coordinated Sell-Off

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Newly-launched cryptocurrency exchange Beaxy has suspended trading after some users deliberately crashed the price of altcoin Ripple (XRP).  XRP/BTC dips 40% According to a blog post and social media messages, beginning on Aug. 12, Beaxy experienced a sudden surge in XRP trading volumes, with a huge sell-off reducing XRP/BTC to 40% of its price on other exchanges. “As a result and precaution, we are temporarily halting all trading activity and withdrawals across the exchange as we investigate,” the blog post reads. XRP/BTC 3-day trade volume on Beaxy. Source: Beaxy Beaxy…