Day: November 21, 2019

German Bank Boosts Bitcoin — Negative Interest Rates Hit Every Account

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Bitcoin-cautious Germany has seen its first bank demand that ordinary savers pay it to hold their money — even as little as €1. According to multiple local press outlets including the Süddeutsche Zeitung on Nov. 19, the Volksbank Raiffeisenbank Fürstenfeldbruck (VRF) in Northern Bavaria is now charging 0.5% negative interest rates on the smallest deposits. Bank on negative interest rates: “We had to” “We had to do it,” the publication quoted the bank’s management as saying.  The reason, they said, was the cost of “parking” money at the European Central…

Bitcoin Price Loses $8,000 Support as Bears Drive Market to 4-Week Low

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Bitcoin (BTC) fell below $8,000 on Nov. 21 after several days of downward price pressure finally cost the cryptocurrency a major support level. Data from Coin360 showed BTC/USD finally reentering the $7,000 range on Thursday, marking its lowest since the last week of October. $7,880 was met by an immediate bounce to $7,940.  Bitcoin daily price chart. Source: Coin360 Analysts eye $7,500 and $6,500 floors for BTC Analysts had widely predicted the bearish move, with regular Cointelegraph contributor Michaël van de Poppe recently eyeing $7,400 as a realistic new support…

Here Are Some Fun Things to Do With Bitcoin Cash

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The best use for any currency would be to spend it on things you need or even better, enjoy. And spending has to be easy and inexpensive too. Bitcoin cash has these characteristics and brings them to the digital money world. They have been acknowledged by crypto users who appreciate fast and low cost transactions. There’s a bunch of interesting things you can do with bitcoin cash today. Also read: These Debit Cards Will Help You Spend Your BCH Anywhere Camping at Norway’s ‘Private City’ You can, of course, travel…

South Africa’s FirstRand Bank Terminates Accounts Related to Crypto

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FirstRand Bank has notified some of the most major cryptocurrency exchanges in South Africa about the closure of their accounts. These crypto exchanges include VALR, Luno and ICE3X. The decision came out after the bank reconsidered its risk factor when it comes to digital currencies and decided to discontinue working with companies that it considered to increase the risk factor. The decision, however, can be revised. According to the bank’s statement, it might change its decision if the rules and regulations involving the cryptocurrency industry are clarified. Marius Reitz, Luno…

Bitcoin and Ether Market Update: November 21, 2019

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Total crypto market cap lost $14.2 billion to its value since Monday, November 18 and now stands at $220.1 billion. Top ten coins are mostly flat for the last 24 hours with Binance Coin (BNB) losing 2.6 percent of its value. At the time of writing bitcoin (BTC) is trading at $8,095 on the Bitstamp daily chart, while ether (ETH) stands at $174 and Ripple’s XRP moved down to $0.25. BTC/USD Bitcoin was trading in the $8,636-$8,376 area on Sunday, November 17 and closed with a small increase to $8,504.…

Bitcoin Miner Canaan’s IPO Nets Just $90M After Losing Banking Partner

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Bitcoin (BTC) mining giant Canaan Creative has raised $90 million in its initial public offering (IPO) — over 75% less than expected.  According to Bloomberg, which quoted filings from United States regulator the Securities and Exchange Commission (SEC) on Nov. 20, Canaan sold 10,000,000 shares for $9 each. From $400M to $90M Previously, the company looked to raise considerably more. Having failed to secure an IPO in Hong Kong last year, Canaan looked to the U.S., with a funding figure of $400 million circulating prior to the event. A setback…

Bitcoin (BTC) Price Hesitates But Further Downsides Seem Likely

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Bitcoin price is consolidating losses above the $8,000 support area against the US Dollar. The price is likely to struggle near the $8,150 and $8,220 resistance levels. There is a key rising channel or a bearish flag pattern forming with support near $8,060 on the hourly chart of the BTC/USD pair (data feed from Kraken). An upside correction towards the $8,220 and $8,280 levels could face a solid selling interest. Bitcoin price is consolidating losses with corrective moves against the US Dollar. However, BTC remains sell on rallies if it…