Day: October 24, 2019

Bitcoin Is Messing Into the Fed’s Territory

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Robert Kiyosaki — author of the 32 million-copy bestseller Rich Dad Poor Dad — has taken a coy stance on Bitcoin’s David and Goliath-like battle with the Fed. Kisoyaki — whose book has reportedly sold 32 million copies across 40 countries and has a reported net worth of $80 million — made his remarks during an interview with Bloomberg on Oct. 22. Bitcoin taking on “one of the most powerful banks ever created” Kosayaki is no stranger to controversy: his bestseller remains one of the most well-known personal finance books…

Crypto Winter Is Here? Bitcoin Treads Trading Range Bottom After Crash

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Bitcoin price (BTC) hovered near widely-predicted support levels on Oct. 24 after a day of carnage sent markets tumbling to five-month lows. Cryptocurrency market daily overview. Source: Coin360 Bitcoin battles fresh Congressional criticism Data from Coin360 showed Bitcoin stabilizing on Thursday following its sudden downturn a day previously, during which BTC/USD lost $500 in just five minutes. Bitcoin seven-day price chart. Source: Coin360 As Cointelegraph reported, the losses had long been anticipated, with analysts almost exactly predicting the floor lying at Bitcoin’s 200-day moving average — approximately $7,400. The bottom…

Ripple Scales Up Global Lobbying Efforts in Washington D.C.

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Ripple to become the first big blockchain firm with a dedicated global regulatory office in Washington D.C. The blockchain firm announced the expansion of its global regulatory team as part of the efforts to educate lawmakers across the globe by uniting industry leaders with global policymakers. In addition to it, Ripple has also joined the Blockchain Association, a non-profit organization that promotes blockchain technology by empowering individuals and organizations to connect, communicate, and collaborate. Ripple, the parent of the Ripple (XRP)trade cryptocurrency, states in the announcing post: “Not unlike the…

Bitcoin Price Lost $500 within Minutes to Settle Below $7,500

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Photo: Tim Reckmann / Flickr Bitcoin had experienced low volatility consolidation in recent weeks. However, the consolidation phase was ended abruptly with a violent drop of almost 10% on October 23 to fall near a 5-month low. At 12:50 UTC, the flagship cryptocurrency plunged by around $500 in 15 minutes to hit a low of $7,500. Bitcoin price reached the lowest level since June 10 as recorded by Bitstamp. After showing mild signs of an upward trend above $8,000, the leading digital token dropped steeply to just below $7,500 where…

Opera Browser Introduces Enhanced Support for Bitcoin in Built-In Digital Wallet

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In a major shift in its design philosophy, the mobile/desktop browser application Opera has revamped its UI and UX for its android mobile platform; and more importantly, it has improved the cryptocurrency integration with its digital wallet. Only Ethereum (ETH)trade had been supported by the browser but with the newer version, 54, Bitcoin(BTC)trade can also be added to the digital wallet. Additionally, the company has also added support for the Tron blockchain and Tron DApps. It is noteworthy that of the five most popular browsers – Chrome, Safari, Samsung Internet,…

We Need Centralized Entities to Support Crypto

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Zeeshan Feroz, United Kingdom CEO of Coinbase, has argued that we need centralized entities like central banks and Facebook to support the crypto ecosystem. In an interview with CNBC published on Oct. 24, Feroz said he saw two ways for cryptocurrency to go mainstream: central bank digital currency (CBDC) issuance and Facebook’s Libra. Central banks will catalyze adoption better than Silicon Valley As distinct from cryptocurrencies, a CBDC is a digital currency issued by a central bank, whose legal tender status depends on government regulation or law. CBDCs such as…

Bitcoin Hash Rate Record Highs Show Miners Are Long-Term Bullish

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Bitcoin (BTC) continues to set new records for its network hash rate this month, a sign that miners have shaken off weak price performance. Hash rate hits all-time highs in October Data from monitoring resource Blockchain confirmed hash rate hit 114 quintillion hashes per second on Oct. 23.  Bitcoin network hash rate (12 months). Source: Blockchain This is the largest reading ever and echoed by others such as BitInfoCharts, which recorded an all-time high of just over 110 quintillion at the same time. Coin Dance numbers put the all-time high…

Telegram’s TON Investors Vote Against a Refund Amid SEC Probe

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Investors in the Telegram Open Network (TON) and $1.7 billion Gram token sale have voted against the return of their funds, Forbes Russia reported on Oct. 23. Two sources close to the Telegram team told reporters that a majority vote — with the inclusion of investors in both rounds of the offering — had agreed to a postponement of the TON network until April 30 and to uphold their investment in the project. SEC Action As previously reported, TON’s anticipated launch on Oct. 31 has been delayed in the wake…

Bitcoin and Ether Market Update: October 24, 2019

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Total crypto market cap lost $18.7 billion of its value since Monday, October 21 and now stands at $203.8 billion. Top ten coins are all in red for the last 24 hours with Binance Coin (BNB) and Bitcoin SV (BSV) being the worst performers with 7.2 and 7.3 percent of losses respectively. At the time of writing bitcoin (BTC) is trading at $7,419 on the Bitstamp daily chart, while ether (ETH) stands at $160 and Ripple’s XRP dropped to $0.269. BTC/USD Bitcoin recovered above $8,000 on Sunday, October 20 and…

Bitmain Builds the Largest Crypto Mining Farm Globally in Rockdale, Texas

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Back on its feet, the world’s largest crypto chip maker Bitmain has made good of its promise to the people of Rockdale, Texas, and the global crypto community at large. You will recall the chip maker promised to create a crypto mining farm in Rockdale last year. Just when hopes were running high and Texas locals were looking forward to the positive influence of such a huge project, the hammer came falling. The crypto community experienced a bad year that saw prices of crypto coins crumbling to their feet. Like…