Day: October 30, 2019

UK Bitcoin Miner Eyes 240% Capacity Boost With New $10M Hardware Order

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United Kingdom-based mining firm Argo Blockchain has doubled its order of new cryptocurrency miners as it eyes “significant expansion” of its capacities. An Oct. 30 report from Proactive Investors revealed that the firm — which is listed on the main market of the London Stock Exchange —  is poised to increase its current hash power by 240%. Poised for 17,000 miners in operation In lieu of a prior order for 5,000 new Antminer S17s at a cost of $13.09 million, Argo Blockchain has reportedly now placed an order for 10,000…

Bitmain Quietly Files for Deutsche Bank-Backed IPO in the US: Report

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China-based mining titan Bitmain Technologies has discreetly filed an application for an Initial Public Offering (IPO) with the United States Securities and Exchange Commission (SEC). According to an Oct. 29 report from Tencent News citing anonymous “informed sources,” German multinational Deutsche Bank is sponsoring the application. The amount sought to be raised by the offering has not been specified. Deutsche Bank reportedly sponsoring the application Tencent News further reports that the IPO plans have been dominated by Bitmain co-founder Jihan Wu and Chief Financial Officer Liu Luyao.  To bolster chances…

CoinList Launching Crypto Exchange After Jack Dorsey Investment

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Bitcoin-friendly Twitter CEO Jack Dorsey has made a direct investment in a fledgling cryptocurrency company as part of its latest funding round.  CoinList to launch crypto exchange and wallet Dorsey, who has become increasingly well known for his support of Bitcoin (BTC), injected an undisclosed amount in token sales startup CoinList, the Wall Street Journal reported on Oct. 30. CoinList serves as a platform for other startups to raise capital via tools such as token sales, airdrops and hackathons.  The company raised a total of $10 million in the latest…

Johannesburg Authorities Refuse to Pay Hackers’ Bitcoin Ransom

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Authorities in Johannesburg are holding firm in their refusal to pay a ransom of 4 Bitcoin to hackers who targeted municipal systems last week. In a statement posted to its official Twitter handle on Oct. 28, the Johannesburg city council confirmed the attack had affected services that included billing, property valuation and land information systems, as well as its eHealth and Libraries services.  The breach, which occurred on Oct. 24, was accompanied by a ransom demand of 4 Bitcoin (BTC) — worth close to $37,000 to press time — payable…

Will Bakkt’s Bitcoin Options Change the Cryptocurrency Industry?

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To refresh our memory, Bakkt, which is backed by New York Stock Exchange (NYSE) and the Intercontinental Exchange (ICE), recently in late September launched its long-awaited Bitcoin Futures platform, where investors and traders can physically exchange Bitcoin. Now, after the exchange has hit new record volumes, Bakkt announced that they will be offering Bitcoin options by December 9, 2019.  “Options allow investors and traders to do different things, and will facilitate new and important approaches to investing,” commented Matt Hougan, director of research at Bitwise Asset Management. These Bakkt Bitcoin…

Will Bakkt’s Bitcoin Options Change the Cryptocurrency Industry?

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Since Bakkt has launched its physically settled Bitcoin futures platform, it has opened new landscapes for investors. What will BTC options change? To refresh our memory, Bakkt, which is backed by New York Stock Exchange (NYSE) and the Intercontinental Exchange (ICE), recently in late September launched its long-awaited Bitcoin Futures platform, where investors and traders can physically exchange Bitcoin. Now, after the exchange has hit new record volumes, Bakkt announced that they will be offering Bitcoin options by December 9, 2019.  “Options allow investors and traders to do different things,…

Peter Schiff Blames ‘Whales’ After Bitcoin Gains 30% Against Gold

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HODLer of a bygone era, Peter Schiff has argued that retail investors are getting squeezed by whales’ tactics on the cryptocurrency markets. In a tweet posted on Oct. 29, Schiff — a diehard gold proponent — said: “Bitcoin hodlers won’t sell as they believe they’ll get rich when #Bitcoin moons. Bitcoin whales get rich by selling now to realize their paper gains before a market crash wipes them out. The whales must make sure the hodlers don’t lose faith and cash out so that they can cash in!” Gold recent tumble…

Bitcoin (BTC) Price Could Dip Further Before Fresh Rally

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Bitcoin price is currently correcting lower and is trading below $9,500 against the US Dollar. The price is likely to decline further towards $8,700 before it could rise again. Yesterday’s highlighted key bearish trend line is intact with resistance near $9,460 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price must surpass the $9,460 and $9,500 resistance levels to start a fresh increase. Bitcoin price is facing a few key hurdles near $9,500 against the US Dollar. Therefore, BTC could dip a few points before…

Bitcoin And Crypto Market Remain In Uptrend: BCH, EOS, TRX, ADA Analysis

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The total crypto market cap is consolidating below the $245.0B and $250.0B resistances. Bitcoin price is facing a strong resistance near the $9,400 and $9,500 levels. EOS price is currently trading in a range above the key $3.300 support area. BCH price rallied recently and tested the main $300 resistance area. Tron (TRX) price is extending gains and it is trading nicely above $0.0200. Cardano (ADA) price is now trading above the key $0.0420 resistance area. Bitcoin and the crypto market cap positioned nicely in a bullish zone. Ethereum (ETH),…

Ripple (XRP) Following Uptrend, BTC & ETH Remain Well Supported

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Ripple price is trading above the $0.2980 and $0.2950 support levels against the US dollar. The price is likely to break the $0.3060 and $0.3080 resistance levels in the near term. There is a major rising channel forming with support near $0.2990 on the hourly chart of the XRP/USD pair (data source from Kraken). Ethereum is also rising steadily and it is likely to break the $200 resistance. Ripple price is showing positive signs above $0.2850 against the US Dollar, while bitcoin is trading sideways. XRP price must break $0.3100…