Day: September 26, 2019

Bitcoin Price Could Test $7,500 Support, Are Institutional Investors Behind the Plunge?

boss

Reports show some evidence, though not conclusive, that institutional investors may have played a role in the recent Bitcoin price drop with many expecting it to test the $7,500 support before recovering. Bitcoin and the entire crypto markets arena are in chaos currently after an abrupt drop in Bitcoin network’s hash rate that resulted in heavy losses on September 24. Some analysts also believe that eh recent drops are as a result of a disappointing launch of the much-anticipated Bakkt platform. On that day, Bitcoin price dropped sharply, losing up…

Bitcoin and Ether Market Update: September 26, 2019

boss

Total crypto market cap lost $42.4 billion of its value since Monday, September 23 and now stands at $221.78 billion. Top ten coins are mostly in green for the last 24 hours with XRP (XRP) and Cardano (ADA) being the best performers with 2.6 and 2 percent of gains respectively. At the time of writing bitcoin (BTC) is trading at $8,390 on the Bitstamp daily chart, while ether (ETH) stands at $169 and Ripple’s XRP dropped up to $0.244. BTC/USD Bitcoin lost 2.7 percent of its value during the previous…

Coinbase Now Supports Stellar and Chainlink Cryptocurrencies in New York

boss

Cryptocurrency exchange Coinbase has announced that New York residents now have access to two cryptocurrencies launched for other jurisdictions months ago. In two tweets late on Wednesday, the exchange said customers based in New York state can now hold, buy, sell, send and receive both Stellar lumens (XLM) and Chainlink’s LINK token. The cryptos will now be available on Coinbase.com and the exchange’s iOS and Android apps in the state. XLM had previously been launched in most jurisdictions on Coinbase back in March, while LINK followed in June. The high regulatory…

Bitcoin Price Must Break $8.8K Level for Bullish U-Turn, Says Analyst

boss

Bitcoin (BTC) lingered around $8,400 on Sept. 26 as relative stability returned to markets after their tumultuous fall earlier in the week.  Cryptocurrency market daily overview. Source: Coin360 Bitcoin price ponders resistance at $8.5K Data from Coin360 showed sideways behavior for BTC/USD on Thursday, with only a brief move to $8,600 disrupting the trend.  24-hour lows for the pair currently sit around $4,235, while overall, markets remained 15% down versus their levels before the drop on Tuesday.  Bitcoin seven-day price chart. Source: Coin360 As Cointelegraph reported, attitudes about Bitcoin’s health…

We’ll Fight SEC ‘Until We Don’t Have a Dollar Left’

boss

The CEO and founder of Canadian social media and messaging app Kik has vowed to fight U.S. regulators over the future of the native Kin (KIN) cryptocurrency “no matter how hard it is.” According to a Sept. 25 report from Global News, Kik CEO Ted Livingston told an audience the Elevate Conference in Toronto on Wednesday: “We have to keep going. Until that’s it, we don’t have a dollar left, a person left. We will keep going no matter how hard it is.” Taking on the SEC As reported, Kik…

H&R Block Wants to Help Crypto Holders Who Received Letters from the IRS

boss

H&R Block, a global consumer tax services provider, warns taxpayers that the increased volume of letters and notices sent by the Internal Revenue Service (IRS) indicates the possibility of cryptocurrency holders interacting with the tax agency would become much more difficult compared to what it used to be. And the company offers solutions to this growing predicament. The IRS has started sending letters to 10,000 taxpayers associated with cryptocurrencies and potentially failed to pay the necessary taxes or unreported or misreported taxes on their cryptocurrency holdings, as well as to…

Tron’s Justin Sun to Reschedule Warren Buffett Lunch ‘Very Soon’

boss

Tron founder and CEO, Justin Sun, says he’ll reschedule his charity lunch with Berkshire Hathaway chairman and billionaire Warren Buffett “very soon.”  The CEO announced the news during a live stream on Tuesday, Sept. 24. An open invitation to the leader of the free world As reported, Sun had won a charity auction on eBay in June to have lunch with Buffett and his own choice of guests, with a winning bid of $4,567,888 — the highest bid in the event’s 20-year history. Yet just days ahead of the much-anticipated…

Repo Market Meltdown Shows Bitcoin’s ‘Systemic’ Stability: Caitlin Long

boss

Wyoming Blockchain Coalition president Caitlin Long has responded to the recent unrest in the money markets by analyzing the systemic fragility of the traditional financial sector as compared with Bitcoin (BTC). In a Medium blog post published on Sept. 25, Long made the argument that “at a systemic level, the traditional financial system is as fragile as Bitcoin is antifragile.” Damage “control” Writing in the wake of last week’s weakness in the repo markets — which prompted the Federal Reserve to temporarily inject $75 billion in cash to keep rates…

Bitcoin Price ‘Manipulated’ Before Futures Settlement Dates: Research

boss

New research this week has added to suspicions that futures settlement dates end up manipulating the Bitcoin (BTC) price. Bitcoin drops 75% of the time before futures expire According to findings from Arcane Research reported by Norwegian crypto news outlet Kryptografen on Sept. 24, CME Group’s Bitcoin futures settlement dates, in particular, appear to negatively influence BTC markets. Analyzing price behavior from January 2018 to August 2019, the company found that 75% of the times immediately before CME issued payouts, Bitcoin fell.  CME was one of the first operators to…

SoFi Introduces Crypto Trading for Bitcoin, Ethereum, Litecoin

boss

California-based financial firm SoFi has added BTC, ETH and LTC trading to its platform SoFi Invest. Crypto trading on SoFi Invest joins the list of previously introduced trading of stocks and exchange-traded funds. California based financial company SoFi announced it added crypto trading to its fast-growing SoFi Invest platform and that the live trading will begin on next Tuesday. Among the first cryptocurrencies that will be added for trade on SoFi Invest platform are Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC). As per the announcement, the idea came as a…