Day: November 22, 2019

Crypto Markets Head for Worst Day in Two Months as Bitcoin Sentiment Shifts to ‘Extreme Fear’

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Bitcoin plunges to six-month low. Crypto markets fall below $200 billion for the first time since the spring. Bitcoin’s Fear & Greed Index prints “extreme fear.” Crypto markets plunged anew on Friday and are on track for their worst performance in two months, as bitcoin’s fear and greed index flipped “extreme fear” following China’s stern warning targeting digital currency traders. The selloff that hit bitcoin has quickly spread to alternative cryptos, with the total market cap hemorrhaging $28 billion over the past 14 hours. Crypto Markets Crash The total value…

Bitcoin Price Due For a Bounce According to ‘Nokia Curse’

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It’s not uncommon for technical crypto analysts to compare Bitcoin price charts with that of other assets hoping to draw some comparisons that an actionable strategy can be derived from. The leading crypto asset by market cap has been closely following the price action of early Nokia stocks, and if Bitcoin continues to follow the pattern closely, a bounce is due in the near term. Bitcoin Price Ready to Bounce If Nokia Curse Fractal Is Followed In recent weeks, analysts trying to find meaningful comparisons to Bitcoin price charts have…

Price Analysis 22/11: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

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Several top cryptocurrencies have broken below their critical support levels, suggesting that this could be the start of a deeper correction. Fear gripped the markets on the news that Chinese authorities had raided the offices of the leading cryptocurrency exchange Binance. This negated all the positive effects that had accrued following President Xi Jinping’s endorsement of blockchain technology. Though Binance denied reports of any raids, price action within the sector has remained subdued. Daily cryptocurrency market performance. Source: Coin360 Naysayers will use these bearish moments to further spread panic among…

Grayscale to Launch Diversified Crypto Fund for Public Trading in Apparent 1st in US

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American digital asset management fund Grayscale Investments is soon launching its diversified cryptocurrency investment product for public trading. Dubbed Grayscale Digital Large Cap Fund (DLC), the product includes five major cryptos including Bitcoin (ETH) and Ether (ETH), and will soon be available to trade on the over-the-counter (OTC) share trading marketplace OTCQX Best Market, the firm announced Nov. 22. Launched in 2018, DLC is an open-ended fund that provides market cap-based exposure to the upper 70% of the digital currency asset class. It will now be publicly traded under the…

Crypto Raises Questions on Self-Government

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The United States Deputy Treasury Secretary argued that decentralized privately-issued digital currencies can shift some functions from the state to the private sector. Deputy Secretary of the Treasury Justin Muzinich presented his view on the emerging ecosystem of financial intermediation and digital currencies at an annual banking and payments conference in New York on Nov. 21. The keynote by Muzinich was published on the official website of the United States Department of the Treasury. The recent conference was co-hosted by the U.S. Clearing House and Bank Policy Institute. Illicit uses…

Bakkt to Launch Cash-Settled Bitcoin Futures on December 9

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The cryptocurrency industry has come a long way from the days when it used to be tough for people to buy tokens online and hence, the emergence of Bitcoin futures did not come as a massive surprise for most market watchers. So what does newly-created crypto exchange Bakkt have in store? Let’s dig in. Key Expansion A few months back, Bakkt announced that it was going to launch a Bitcoin future product that could be settled in cash. That announcement naturally caused a lot of enthusiasm in the crypto sphere,…

Morocco Plans to Expand Access to Financial Services With Fintech

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Morocco is looking to expand access to financial services through the integration of blockchain technology in the country’s financial sector. Speaking at the Africa Blockchain Summit in Morocco’s capital of Rabat, the country’s central bank governor Abdellatif Jouahri said that Morocco will deploy financial technology to enhance access to financial services, Morocco World News reported on Nov. 21. This fintech implementation will come as part of the country’s financial inclusion strategy and especially targets underserved citizens. To reach the unbanked Jouahri further elaborated that the application of fintech, including blockchain…

Bavarian Government to Issue Blockchain-Based Training Certificates

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The Chamber of Industry and Commerce of Munich and Upper Bavaria, Germany, will issue its first blockchain-enabled training certificates next spring in cooperation with the Digital Ministry. In the future, employers will be able to determine whether the certificates are genuine with the help of an electronic key.  Authentication Stamp “Made in Bavaria” According to a press release from Nov. 20 from the Minister of State for Digital Affairs, employers will use an electronic key to verify the authenticity of certificates using blockchain technology.  The Digital Ministry will create a…