Day: November 27, 2019

Price Analysis 27/11: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

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Was the current pullback an opportunity to go long or will the relief rally reverse direction and catch many aggressive bulls off guard? The theft of 342,000 Ether (ETH) from South Korean cryptocurrency exchange Upbit could have halted the current relief rally taking place in the crypto market. However, Lee Seok-woo, the CEO of Upbit’s operator, Dunamu said that the company will cover for the losses. This erased some of the initial concerns of the market participants and improved sentiment. When sentiment is negative, the markets fall quickly but take…

Skrill Doubles Down on Crypto? Offers New Crypto-to-Crypto Conversion Feature

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Online payment services firm Skrill has announced the expansion of its cryptocurrency offering. With its crypto-to-crypto buy and sell service, Skrill users will now be able to use Bitcoin to buy other cryptocurrencies, making transactions on the platform faster and lower-cost. It comes after the UK-based firm first introduced its Cryptocurrency Service last year. Before this change, Skrill customers could use their fiat account balances to purchase any of nine different cryptocurrencies, including Bitcoin, Ether, Litecoin, and XRP, among others. However, if they wanted to exchange one cryptocurrency for another,…

Afghan Government to Apply Blockchain in Country’s Healthcare Sector

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The Afghan Ministry of Public Health has signed a Memorandum of Understanding (MoU) with blockchain firm FantomOperations to integrate blockchain technology into the country’s healthcare sector. As Afghan Voice Agency reported on Nov. 27, the terms of the MoU would apply blockchain to identify counterfeit medicines, create medical registries in hospitals and digitize patients’ files. Commenting on the initiative, Afghan Public Health Minister Ferozuddin Feroz said: “The Ministry of Public Health is committed for the institutionalization of electronic government in the health sector and the blockchain technology would help the…

HSBC to Digitize Private Placement Records to Track $20B in 2020

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British banking giant HSBC plans to move $20 billion worth of assets to Digital Vault, a new blockchain-based custody platform by March 2020. By deploying the platform, the global investment bank aims to digitize paper-based records of private placements in order to increase standardization and speed up processes in the growing industry, Reuters reports Nov. 27. HSBC reportedly expects the global volumes of private placements to surge 60% from 2017 to hit $7.7 trillion by 2022. The bank could not estimate how much the platform will save for the company…

Institutional Investors Are Pouring Into Bitcoin Derivatives

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Institutional investors are pouring into bitcoin. Trading volume across top U.S.-regulated BTC futures markets is skyrocketing. Retail investors are losing interest in the pioneer cryptocurrency. The massive downturn that the cryptocurrency market experienced over the last week sent retail investors into “extreme fear,” according to the Crypto Fear and Greed Index (CFGI). Even Mark Dow, a former U.S. Treasury and International Monetary Fund economist, boasted on Twitter that bitcoin was “dying” after the sell-off. But data shows otherwise. As bitcoin plummeted below $8,000, U.S. regulated BTC futures markets saw their…

Bitcoin Price Blasts Through Key $7.4K Resistance – Next Target $8.1K

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Since dropping below the descending channel on Nov. 25, Bitcoin (BTC) has reclaimed $7,000, cleared some hefty resistance at $7,400 and now made its way up to above $7,500 by press time. Crypto market daily performance. Source: Coin360 The 111-day moving average (DMA) and the 128-DMA are currently in the process of converging to form a bear cross, an occurrence which last happened on Apr. 30 when the moving averages crossed at $5,150. BTC USD daily chart. Source: TradingView Investor sentiment remains muted as traders are unsure whether Bitcoin price…

Bitstop Installs New Bitcoin ATMs in Partnership with Simon Malls

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As the cryptocurrency community grows in leaps and bounds, Bitstop which is one of the largest Bitcoin ATM operators in the world has installed five Bitcoin ATMs for starters across several locations of America’s largest retail mall operator Simon Property Group. This comes at a time when the cryptocurrency space is looking for ways to bring adoption to everyday people in a way that they can appreciate how the technology works. Sources indicate that the locations of the ATMs have already covered the following areas: locations in Carlsbad, California, Mall…

Crypto-Related Fraud and Theft Resulted in $4.4B Loss in 2019

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In 2019, the total volume of cryptocurrency-related fraud and theft resulted in losses worth $4.4 billion, according to CipherTrace’s report for the third quarter of 2019. In its “Cryptocurrency Anti-Money Laundering Report, 2019 Q3,” security research firm CipherTrace delved into the 120 most popular cryptocurrency exchanges’ compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements and analyzed patterns in crypto-related crimes. Decline in crypto crime volume and weak KYC standards Per the report, Q3 2019 saw a notable reduction in total cryptocurrency crimes as compared with previous quarters,…