Day: August 21, 2019

Ethereum in Its First Big Bear Market Like Bitcoin in 2015, Analyst Says

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Cryptocurrency investor and Placeholder partner Chris Burniske has argued that Ether (ETH) is enduring its first mainstream bear market, just as Bitcoin (BTC) did back in 2014-15. In a tweet posted on Aug. 20, Burniske noted that in retrospect, 2014-15 revealed itself as having been the best risk/reward period for investors to get Bitcoin exposure. He added: “To objective observers, the network’s momentum was clear despite the bearish price action; those predisposed to dislike based on perceived vested interests, were blinded by biases & missed the bus. What happened to…

Youngest Bitcoin Millionaire Upgrades Crypto-Payments App to Depose Libra Cryptocurrency

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The self-acclaimed youngest bitcoin millionaire is seemingly ambitious and confident that a newly upgraded payments app would depose Libra even before the Facebook cryptocurrency has launched. In a Twitter post on August 19, 2019, the young cryptocurrency investor announced the launch of Metal Pay, which is touted to reach a large number of people in ways only imaginable to Libra. Metal Pay – “The Libra Killer” Erik Finman, who became a millionaire at 18 by investing in bitcoin, collaborated with Marshall Hayner, Founder, and CEO of Metal Pay, a peer-to-peer (P2P)…

Crypto Giant Binance Introduces New Stablecoin Development Project: Venus

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The crypto exchange giant Binance is here to make good of its goal to push forward the crypto world yet again through the launch of a new blockchain project dubbed Venus, which is touted the “independent regional version of Libra.” Yi He, Binance co-founder, stated: “We believe that in the near and long term, stablecoins will progressively replace traditional fiat currencies in countries around the world, and bring a new and balanced standard of the digital economy.” Explaining the project further, Binance asserted that Venus isn’t here to compete with…

Bitcoin Will Be In Every Institutional Investor’s Portfolio

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American investor and Morgan Creek Digital Assets co-founder Anthony Pompliano says that Bitcoin will end up in every institutional investor’s portfolio. In an interview with CNBC on Aug. 20, Pompliano said that every single week more infrastructure is being built around Bitcoin (BTC) and the crypto markets more broadly. “We’re at a tipping point” In making the case for Bitcoin’s bullish prospects, Pompliano highlighted recent developments, such as the coin’s serial record-breaking hash rate this summer, which points to continual improvements in the network’s security and support. He also took…

Saudi Arabia Warns of Crypto Scammers Posing as Gov’t Projects

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Saudi Arabia’s Finance Ministry has warned against crypto tricksters using the kingdom’s official emblem to promote tokens that purport to be tied to government projects. Arab News reported on Aug. 21 that the ministry has identified a Singapore-based company promoting two fraudulent cryptocurrencies, dubbed “CryptoRiyal” and “SmartRiyal.”  Fraud alert: hype and pump CryptoRiyal and SmartRiyal’s promoters are reportedly claiming that their cryptocurrency project’s ultimate goal is to finance NEOM — a smart city and tourism hub currently under construction in the north of Saudi Arabia.  The report cites an official…

Bitcoin Price ‘Will Struggle’ in Big Financial Crisis, Says Investor

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Spencer Bogart, a general partner at venture capital firm Blockchain Capital, thinks that Bitcoin (BTC) will be a safe haven in the long term. However, he has a nuanced view of how BTC price will play out with respect to various economic events. Bogart shared his views during an interview with Bloomberg on Aug. 20. According to him, risks of monetary devaluation can drive Bitcoin’s price up. Bogart commented: “I think longer term Bitcoin will absolutely be a safe haven […] I think that when you have looming risks of…

bitFlyer Partners with Tpoint Japan to Launch Bitcoin Loyalty Program

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bitFlyer, a leading Japanese bitcoin exchange with a presence in Europe and other parts of the globe, has joined forces with Tpoint Japan, a technology services firm. The partnership will see them launch a bitcoin-powered loyalty program, according to a press release, August 20,  2019.  Bitcoin Rewards As stated in its press release, bitFlyer has inked a partnership deal with Tpoint Japan, to unveil an innovative bitcoin-based loyalty scheme dubbed “T-POINT Program,” to enable users of both firms to receive exciting rewards in bitcoin when they make payments with the…

Bitcoin (BTC) Price Recent Breakdown Could Accelerate Decline

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Bitcoin price failed to surpass the $11,000 resistance and recently declined against the US Dollar. The price is currently trading below the key $10,600 and $10,500 support levels. This week’s followed crucial bullish trend line was breached with support near $10,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently at a risk of more downsides below the $10,250 support area. Bitcoin price is currently facing an increase in selling below $10,500 against the US Dollar. Therefore, BTC could accelerate its decline if…

Ripple Price (XRP) Breaks Key Support: More Downsides Likely

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Ripple price started a fresh decrease after it failed to break the $0.2920 resistance against the US dollar. Bitcoin price is struggling to hold the main $10,500 support area. This week’s followed bullish trend line with support near $0.2740 was breached on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently trading below the key $0.2700 support and it might accelerate its decline. Ripple price is showing bearish signs below key supports against the US Dollar and bitcoin. XRP is currently at a risk…

Crypto Market & Bitcoin Remain Supported: BCH, Litecoin, ADA, TRX Analysis

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The total crypto market cap failed to surpass the key $280.0 resistance area. Bitcoin price started a downside correction and traded below the $10,800 support. Litecoin (LTC) price is struggling to correct higher and is testing the $75.00 support. BCH price is currently correcting lower and it might test the $305 support area. Tron (TRX) price is extending losses and it remains in a strong downtrend below $0.0185. Cardano (ADA) price broke the key $0.0500 support level to extend its slide. Bitcoin (BTC) and the crypto market cap are currently…