September 23, 2019

Int’l Accounting Standards Body Defines Bitcoin as ‘Intangible Asset’

September 23, 2019 boss

The International Financial Reporting Interpretations Committee (IFRIC) has ruled that cryptocurrencies, including Bitcoin (BTC), are neither financial assets nor legal tender. The Korea Times reported the development on Sept. 23, citing the Korea Accounting Institute’s briefing in regard to an IFRIC meeting held in London this June. Cryptocurrencies neither financial assets nor currencies According to the report, the IFRIC has ruled that cryptocurrencies are “not cash nor an equity instrument of another entity,” but rather “intangible assets” — defined as “identifiable non-monetary assets without physical substance.” In the IFRIC’s definition,…

Bitcoin Price Sitting Still at $10K – What Could Make It Move?

September 23, 2019 boss

Bitcoin Price Sitting Still at $10K – What Could Make It Move? September 23, 2019 by Ramiro Burgos The bitcoin price has hovered around the $10,000 USD level for so long we’re running out of headlines. No amount of news, spin or events seems able to budge it from that position. What do the charts say? Read our weekly technical analysis to find out. Also read: Is the Bitcoin Price Leaving the Bears Behind? Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Bitcoin Price Technical Analysis Long-Term…

Bitcoin Price Sitting Still at $10K – What Could Make It Move?

September 23, 2019 boss

OKEx Slams New Wash Trading Allegations as ‘Inaccurate and Misleading’

September 23, 2019 boss

Cryptocurrency exchange OKEx has refuted fresh allegations of manipulative practices such as wash trading on its platform. In a statement shared with Cointelegraph on Sept. 23, the exchange wrote that the wash trading allegations made in a recent report from the Blockchain Transparency Institute (BTI) were “not accurate and misleading.” “An apple-to-orange comparison” As reported, the BTI published its latest report on Sept. 19, in which it claimed to have identified what it deems to be the cleanest exchanges in the industry, as well as those with the allegedly highest…

Global Interest Rate Reduction Will Push Bitcoin Price to a New High

September 23, 2019 boss

While more than 30 major economies around the world have announced interest rate cuts this year, it seems that Bitcoin, as well as other major cryptocurrencies, set to prosper. On September 18, the Federal Reserve announced another 25 basis point interests rate cut, bringing interest rates down to 1.75% to 2%. This is the second rate cut by Federal Reserve since 2008. The last rate cut was on August 1 this year, with an interval of only 48 days. Notably, at least seven of 17 fed members think they will…

Venezuela to Finance Housing Projects through Petro Cryptocurrency

September 23, 2019 boss

Venezuela has decided to use its state-backed cryptocurrency, the Petro, to fund its ambitious housing scheme. Ildemaro Villarroel, the country’s Minister of Habitat and Housing, confirmed this news in an announcement made on a government website. The minister agreed confidently that by funding the project through the country’s pet cryptocurrency, Petro, there are more guarantees that the initiative will be completed as per its defined agenda. The minister also noted that the decision will allow private investors to contribute to the housing scheme by financing the project through the stock…

Trading for Bakkt Bitcoin Futures Go Live But Bitcoin Price Tanks Below $10k

September 23, 2019 boss

ICE‘s Bakkt platform has finally announced its Bitcoin Futures contracts going live today, September 23. Bakkt‘s Bitcoin Futures launch comes as per its earlier announced schedule after the U.S. Commodities and Futures Trading Commission (CFTC) gave the exchange a green signal last month. We’re live! The first Bakkt Bitcoin Futures trade was executed at 8:02pm ET at a price of $10,115 — Bakkt (@Bakkt) September 23, 2019 As part of the announcement, Bakkt provides two contracts – Bitcoin Daily Futures Contracts and Bitcoin Monthly Futures contracts. Bakkt’s Bitcoin Futures contracts…

Bakkt Trades 18 BTC in First 7 Hours as Bitcoin Price Falls Below $10K

September 23, 2019 boss

18 Bitcoin (BTC) in volume has been traded since the launch of Bitcoin futures on the Intercontinental Exchange (ICE)’s Bakkt platform yesterday, Sept. 22. The much-anticipated contracts — the first of their kind to be physically settled in Bitcoin — went live at 8 PM EST on Sept. 22 (00:00 UTC Sept. 23). The first hours Bakkt ™ Bitcoin (USD) Monthly Futures Contract. Source: ICE As of the most recently available data at the time of writing, 18 BTC has been traded, with a last recorded trading price of $10,…

VanEck, SolidX Drop Bitcoin ETF Race, SEC Approval Until 2020 Unlikely

September 23, 2019 boss

On Sept. 17, the Chicago Board Options Exchange’s BZX Equity Exchange withdrew its VanEck/SolidX Bitcoin exchange-traded fund (ETF) proposal a month ahead of the review deadline. The United States Securities and Exchange Commission (SEC) — the regulator on the matter — had until Oct. 18 to greenlight or reject the financial product. As a result, the race for the first Bitcoin (BTC) ETF seems to be postponed once again. While the SEC is still reviewing two other proposals of this kind, the VanEck/SolidX Bitcoin ETF was generally perceived as the…

Bitcoin Price (BTC) Watch: Here Is Why Bulls Must Be Careful

September 23, 2019 boss

Bitcoin price is currently trading below the $10,080 resistance area against the US Dollar. The price is facing many hurdles on the upside near $10,080 and $10,100. There is a short term breakout pattern forming with resistance near $10,060 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could either climb towards $10,400 or it might extend its decline below $9,850. Bitcoin price is under pressure below $10,200 against the US Dollar. BTC remains at a risk of more losses until it settles above $10,100…