Day: November 22, 2019

Altcoins See Red as Bitcoin Capitulation Drags Down Market

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Almost all the leading altcoins are shrinking in value today after Bitcoin (BTC) crashed below the $7,000 mark earlier on Friday before recovering to around $7,300 at the time of writing. The sizeable decline in BTC sent crypto investors scrambling as altcoins followed suit, with Ethereum (ETH), Ripple (XRP), and Binance Coin (BNB) leading the way. Ethereum, the largest of the altcoins, dropped nearly 10% earlier today to below the main $165 USD support area. Bitcoin Cash nosedived below $210, while XRP is currently worth just $0.23. Interestingly, Tether actually…

Friday Shows Bloodbath for Crypto Markets, Bitcoin Price At $7,300

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Friday, Nov. 22 — Cryptocurrency prices are bleeding heavily, with some of the top-20 coins showing losses of close to 10% on the day. Cryptocurrency market daily overview. Source: Coin360 Bitcoin (BTC) started the day just above the $7,600 price mark, when it suddenly started on another sell-off towards the $7,000 price level. The coin bounced off a local low of $6,800 in recent hours, before moving up to its current trading price at $7,300, showing a loss of close to 4% on the day. The world’s largest cryptocurrency is…

Finland Prepares For Bitcoin Ransomware Attack With Cyber Fire Drill

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The Finnish Population Register Centre is coordinating a simulated ransomware cyberattack on more than 200 Finnish cities and public organizations. On Nov. 22, Finnish news outlet Yle reported that participating cities and organizations are rehearsing how to respond when a group of hackers demands the participants pay ransomware during a series of simulated cyberattacks. As part of the operation, 235 public organizations were faced with an activist hacker group that threatened to carry out cyberattacks unless it was paid a ransom fee in Bitcoin (BTC) by a certain date. According…

Bakkt Will Offer Cash-Settled Bitcoin Futures This December

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Blockchain activists used to praise Bakkt for introducing Bitcoin-settled futures. From the “OG” standpoint, any Bitcoin-alike asset looks somewhat shady if it is not backed by a government or a company with astronomical budgets and shiny names in the board of directors. But “Bitcoin free” trading is considered normal among many of the crypto activists. However, the recent announcement made by ICE regarding the Bakkt futures made traders wonder. They took an aggressive approach and asked ICE and Bakkt via social networks about the necessity of the offer. For instance,…

Global Debt Reaches New Highs — Is BTC a Solution or a Beneficiary?

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Global debt has surpassed $250 trillion. That’s 320% of gross domestic product, announced the Institute of International Finance on Nov. 14. Emerging market debt also hit a record $71.4 trillion, 220% of GDP. This has set off alarm bells. After all, the projected year-end amount of $255 trillion is equal to $32,500 for each person on the planet, or $12.1 million per Bitcoin (BTC), as Cointelegraph reported. But, as mind-boggling as it may appear, is this total debt really so bad? Debt, after all, can stimulate growth, enabling a country…

Cardano Creator Sets $100K Price Target for Bitcoin

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Charles Hoskinson remains ultra bullish on bitcoin. FUD takes over the cryptocurrency markets. Now might be a good time for long term BTC acquirers. Despite a recent bout of fear, uncertainty, and doubt within the cryptocurrency community, Charles Hoskinson – the creator of Cardano – has set a bullish $100,000 price target for BTC. Bitcoin is dying, or so it would appear if you lurk around any corner of Crypto Twitter. This dour sentiment is somewhat understandable given the current price performance of BTC. In the space of a month,…

Bitcoin.com Accelerates Cryptocurrency Adoption With Racer Endorsement

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Luke Vanna and the Bitcoin.com car are competing for top honors in the Australian Toyota 86 Racing Series. Sports partnerships like this can introduce cryptocurrency to new audiences as well as attract more businesses to join the ranks of the many merchants already accepting bitcoin cash across the country. Also Read: Bitcoin.com to Launch $200 Million BCH Ecosystem Investment Fund Bitcoin.com in Australian Toyota 86 Racing Series This weekend, Luke Vanna will be competing in a car exclusively branded with Bitcoin.com’s logo and colors in the final round of the…

After Testing $7K — Is Bitcoin Price Finally Close to the Bottom?

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Bitcoin (BTC) opened the day at $7,600 and began a sharp decline to find lows of $6,800 — a loss of just over 10%. Price has since been pushed back across $7,000 with buyers showing interest in prices below the $7K handle. The loss in Bitcoin valuation has dragged the entire market down with notable loser being Ether (ETH), which has lost support at $150 and printed lows of almost -15% at $137. Bitcoin dominance is up for the week at 69%, meaning that BTC has outperformed the remainder of…