Day: October 28, 2019

Bitcoin’s Four-Month Bear Trend Intact Even After 16% Price Rise

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View Bitcoin remains trapped in a four-month falling channel despite registering double-digit gains last week. Prices could pull back to former resistance-turned-support of $8,800 in the next 24 hours. The bearish case would be invalidated above $9,730. A weekly close or two consecutive daily closes (UTC) above the falling channel hurdle at $9,730 are needed to confirm a resumption of the bull rally from April lows around $4,000. Bitcoin (BTC) eked out double-digit gains last week, but failed to invalidate a four-month bearish trend. The top cryptocurrency by market capitalization closed…

Bitcoin’s Four-Month Bear Trend Intact Even After 16% Price Rise

boss

View Bitcoin remains trapped in a four-month falling channel despite registering double-digit gains last week. Prices could pull back to former resistance-turned-support of $8,800 in the next 24 hours. The bearish case would be invalidated above $9,730. A weekly close or two consecutive daily closes (UTC) above the falling channel hurdle at $9,730 are needed to confirm a resumption of the bull rally from April lows around $4,000. Bitcoin (BTC) eked out double-digit gains last week, but failed to invalidate a four-month bearish trend. The top cryptocurrency by market capitalization closed…

EOS Holds Top Spot, Bitcoin 11th in China’s Latest Crypto Rankings

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China’s state-backed tech workgroup has released its fourteenth crypto rankings report, with Bitcoin (BTC) ranked 11th and EOS (EOS) retaining the top spot as of the end of September 2019. The listings rank 35 assets in total, as reported on Sep. 29 by the Center for Information and Industry Development (CCID)’s online information portal.  Reshuffles Compared with the last instalment of the rankings this July, Bitcoin has held its position while altcoin Tron has dislodged Ether (ETH) from the second spot. XRP is up from 30th to 20th-ranked asset. CCID…

Crypto Irony? Bitfinex Claims It Is “the Victim of a Fraud” by Crypto Capital

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In an effort to set the records straight, the controversial crypto exchange Bitfinex released a statement on Friday, attempting to disengage itself from the Crypto Capital money laundering saga. The Hong Kong-based cryptocurrency firm made it crystal clear that it is, in fact, a victim of the money laundering case. This is in contrast to what the public thought earlier (and some might still believe). Backtrack a little to last week, the police scored yet another one for the good guys when it apprehended the top executive of Crypto Capital,…

Blockchain Startup Raises $5M to Automate Airport Security Checks

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Blockchain startup Zamna raised $5 million to automate airport security checks using blockchain and biometrics technology, tech news outlet Silicon Republic reports on Oct. 28. The startup plans to use the funding to deploy its Advance Passenger Information platform. Zamna also said that International Airlines Group (IAG), Emirates Airlines and United Arab Emirates’ General Directorate of Residency and Foreigners Affairs are now among its clients. According to company data website Crunchbase, the seed round was reportedly led by venture capital firms LocalGlobe and Oxford Capital partners alongside IAG, one of…

Dorsey Has Spoken: Twitter CEO Declares “Hell No” on Joining Libra Association

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When asked if he ever considers joining the Libra Association, Jack Dorsey, the chief executive officer of Twitter gave a resounding “hell no.” Facebook Libra has raised a ton of dust since its announcement, and somehow it keeps finding its way into major headlines across the globe. The highly criticized virtual coin is now being disassociated from Facebook (maybe a bid to save it from the standing credibility troubles of Facebook). During the last congressional hearing about Libra, Facebook’s boss Mark Zuckerberg continuously stressed that the Libra Association is independent…

Forex Regulator Warns Against Illegal Crypto Cross-Border Flows

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China’s foreign exchange regulator has warned that emerging markets need to muscle in on cryptocurrency-enabled illegal cross-border capital flows. Sun Tianqi, the chief accountant of China’s State Administration of Foreign Exchange (SAFE), made the remarks at a forum today in Shanghai, according to an Oct. 28 report from Reuters. China has shuttered over 2,000 forex trading platforms Tianqi called for global regulators to cooperate on countering illegitimate cross-border transactions, underscoring the risks that fintech innovation poses to foreign exchange control. He revealed that the Chinese state had closed over 2,000…

At Last, the Bitcoin Price Hits $10K Again! But Can It Hold?

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At Last, the Bitcoin Price Hits $10K Again! But Can It Hold? October 28, 2019 by Jon Southurst Some good news at last: the bitcoin price has returned to its $10,000 USD axis lateral market, but volatility is increasing at the same time. Removing all emotion from the process and looking at the charts, read our weekly technical analysis to see what the data says could happen in the coming months. Also read: Despite Bitcoin Price Blues, Hope of $10K Springs Eternal Bitcoin Price Technical Analysis Long-Term Analysis After the trend…

Bakkt’s Bitcoin Futures Volume Explodes 260% to Trade $11M in 24 Hours

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Institutional Bitcoin (BTC) trading platform Bakkt is on course to treble its all-time high for trade volume after hitting new records last week.  Bakkt Frontruns China Hype According to data from Twitter-based monitoring resource Bakkt Volume Bot on Oct. 26, Bakkt traded 1,183 Bitcoin futures contracts, or 1,183 BTC ($11 million) on Friday.  Compared to just 331 contracts ($3.1 million) on Thursday, the increase in just 24 hours was 257%, dwarfing previous jumps, which themselves had resulted in all-time highs earlier in October.  Bakkt Bitcoin futures trading volumes. Source: Bakkt…

Bitcoin Price Chart Now Looks ‘Ridiculous’ After Record Gains: Analyst

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Bitcoin (BTC) held above $9,000 on Oct. 28 as a weekend of bullish madness continued to captivate markets. Cryptocurrency market daily overview. Source: Coin360 Bitcoin price mulls next move amid $8.8K warning Data from Coin360 showed volatility remaining elevated for Bitcoin on Monday, with swings between $9,100 and $9,900 characterizing the past 24 hours.  On Friday, news that China was officially embracing blockchain technology appeared to reawaken enthusiasm across cryptocurrency markets. After trailing at $7,400 for several days, BTC/USD suddenly exploded, hitting local highs of nearly $10,500 early Saturday morning.…