Day: October 5, 2019

Bitcoin Price Pinned Below $8,200 as Bulls and Bears Fight for Control

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  Weekly crypto market data. Source: Coin360 As the weekly close approaches Bitcoin remains pinned in the $8,300 to $7,800 range. For the past few days, the digital asset has made lower daily highs and it no longer rides along the 20-MA of the Bollinger Band indicator on the 4-hour chart.  Basically, Bitcoin is losing steam and now struggles to pierce $8,200 as trading volume dries up and the Bollinger Bands tighten. All of this suggests a move is imminent.  BTC/USD 2-hour chart. Source: TradingView Multiple indicators suggest a move…

Sept. 30 – Oct. 5 in Review

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The German-speaking world has experienced another week full of exciting developments in the crypto industry, with Liechtenstein approving the new Blockchain Act, Iota Foundation joining the European climate research community and Germany taking a firm stand against stablecoins. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph auf Deutsch. Liechtenstein approves new Blockchain Act On Oct. 3, the Parliament of Liechtenstein approved the Token and TT Service Provider Act, also known as the Blockchain Act, which aims to improve investor protection, combat…

Liechtenstein’s Parliament Unanimously Approves New Blockchain Act

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Liechtenstein’s Parliament has unanimously passed the Act on Tokens and Entities Providing Services Based on Trusted Technologies (TVTG), also known as the Blockchain Act. Pioneer in comprehensive regulation On Oct. 3, the Parliament of Liechtenstein approved the Blockchain Act, which aims to improve investor protection, combat money laundering and establish clarity. The new law will enter into force on Jan. 1, 2020. The parliament’s announcement claims that this act will make Liechtenstein the first country to have comprehensive regulation of the token economy. The newly approved law will regulate civil…

Former US Army Interpreter Gets 30 Years for Dark Web Fentanyl Trade

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A former interpreter for the United States military forces was sentenced to 30 years in jail for dealing fentanyl, which led to the death of a U.S. Marine. Drugs paid for with cryptocurrencies According to a Reuters report from Oct. 3, a former Iraqi U.S interpreter was sentenced to 30 years in federal prison without the possibility of parole for using the darknet to sell fentanyl.  Alaa Mohammed Allawi pleaded guilty to the drug charges and acknowledged using the now-defunct online darknet market Alpha Bay to sell a variety of…

Tether and Bitfinex Expect a Market Manipulation Lawsuit: Official

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Stablecoin firm Tether and its affiliate exchange Bitfinex anticipate a lawsuit alleging that Tether token (USDT) is involved in market manipulation as the result of an unpublished paper. Tether and Bitfinex to defend its position On Oct. 5, both Tether and Bitfinex published statements claiming that they had become aware of an unreleased paper “falsely positing that Tether issuances are responsible for manipulating the cryptocurrency market.”  Both firms argued that findings and conclusions claimed by that unpublished source relies on “flawed assumptions, incomplete and cherry-picked data, and faulty methodology.” Both…

What’s Next for the Industry as ‘Crypto Winter’ Thaws?

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It’s hard to tell who was the first to coin — if you’ll forgive the pun — the name for the dramatic price drop of Bitcoin (BTC) and altcoins as the “crypto winter.” But the name accurately captures the simultaneous collapse of around 2,000 global cryptocurrencies that lost a total of 80% of their aggregate market cap.  The term “crypto winter” probably came into more widespread use after BTC’s price drifted south to around $3,000 per Bitcoin in December of 2018, it’s lowest price in more than a year. For…

Most Top-20 Coins See Slight Red as Bitcoin Price Slips Below $8.1K

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Saturday, Oct. 5 — crypto markets are trading sideways today, with most of the top 20 coins by market cap seeing losses and Bitcoin (BTC) dipping below $8,100. Only three coins out of the top 20 cryptos are up over the past 24 hours at press time, with Iota (MIOTA) seeing the largest gains of over 2.3%. In contrast, Algorand (ALGO), the 17th crypto by market cap, is down the most, sliding nearly 2.7%. Market visualization. Source: Coin360 Despite volatility, Bitcoin is almost flat over the past week After hovering…

Multiple Traders Predict an Incoming Altseason in Crypto

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Most cryptocurrencies other than bitcoin have been languishing in crypto winter for over two years. This is particularly true for alternative coins, or altcoins, in their bitcoin (BTC) pairs. Most have lost over 90 percent of their value from their peak. However, the winds appear to be changing. Many altcoins have lost so much value that they look ready to start a new market cycle. This prompted a handful of reputable traders on Crypto Twitter (CT) to start feeling bullish about the prospects of these coins. They believe that an…

Crypto Insurance a Promising Sector Despite Caution of Major Players

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The growth in popularity of cryptocurrencies has, in many ways, outpaced the infrastructure built to support it. In terms of security, cryptocurrency exchanges that serve both as a marketplace and a store of the digital assets have become a hacker’s favorite target. Now that the cryptocurrency market has grown to its current capitalization of more than $200 billion, demand for crypto insurance is gaining traction. Already, big-time insurers are emerging as major players in the market: Lloyd’s of London, a centuries-old insurer with a net worth of $45 billion, partnered…

Tom Lee: Bitcoin’s Price Moves in Tandem With S&P 500

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Fundstrat Global Advisors co-founder Tom Lee has stated that Bitcoin (BTC) is positively correlated with the S&P 500 market index and is not a hedge against macro turmoil. Lee voiced his opinion during an interview with industry news outlet The Block published on Oct. 1. Bitcoin moves according to macro factors During the interview, Lee admitted that his opinion is unpopular given that many believe Bitcoin to be a hedge against macroeconomic turmoil. That being said, while he agrees that some crises can have a positive influence on Bitcoin’s price…