Day: December 8, 2019

EU Council and Commission Say No to Stablecoins Until Regulation Is Clear

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A truckload of risks and concerns still lurk around stablecoins, this supposed stable form of cryptocurrencies, leading to concerns in the EU and other countries. The EU council and Commission took their press section to release a joint statement, clearly proclaiming their take on stablecoins and what must be done before any of such digital coins are traded in any EU country. In the joint statement, the Council and Commission acknowledge the benefits virtual assets such as stablecoins bring with them; nonetheless, they quickly added the risks associated with holding…

$10K Bitcoin Price Again? Let’s Look at the Charts

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$10K Bitcoin Price Again? Let’s Look at the Charts December 8, 2019 by Ramiro Burgos The Bitcoin price could end its current sideways movement at $7,000 USD to go higher than $10,000… but as usual, there are many external factors at play. Read our weekly technical analysis report to see what could be coming in the near future. Also read: Bitcoin Price Sits on $7K, Gathers Steam for Upward Move Bitcoin Price Technical Analysis Long-Term Analysis Prices seem to be ending their lateral market, recognizing the ascending curve of a Rounded…

Outrageous Predictions: New Asian Virtual Currency Will Counter Dollar’s Dominance

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According to the new release of ‘Outrageous Predictions’ by the banking fintech company Saxo Group, The United States dollar’s long-lived reign as the main reserve currency might soon meet its end, especially as China has started working on the creation of a new digital currency that is driven by blockchain technology. The prediction alleges that after its long history of funding itself in the US dollar, China has been a main constituent for the staggering growth of the USD in captivation of global capital across the world. However, as political…

Decentralized Liquidity Is the Backbone of DeFi

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StarkDEX, on the other hand, uses state-of-the-art cryptographic STARK proofs to take on-chain transactions, process them off-chain, and then batch them back on-chain in order to increase throughput. The challenges of this method are purely technical, rather than social, as with Unipig (where you just have to get others to supply more liquidity over time). Running on testnet it appears to increase transaction volumes by more than 100x versus the main chain, with correspondingly decreased gas costs. Source

U.S. SEC Gives Consent to Bitcoin Futures Fund

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After in September, Bakkt’s physically-backed Bitcoin futures platform finally started its work, a lot of crypto believers wondered what is next. Well, there is something. The U.S. Securities and Exchange Commission (SEC) recently approved a new investment fund that will invest in Bitcoin futures contracts. The registration statement filed by Stone Ridge Trust VI for the NYDIG Bitcoin Strategy Fund began with its work on Monday after the company, already in October filed Form N-2 with the SEC. Actually, the company amended N-2 two times. The first time was on…

The First Bitcoin-Featured Commercial Advertised on French Television

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Bitcoin has enjoyed its first television commercial on free-to-air station across France. The 30-second video promotes Keplerk, a financial-technology firm based in Paris, and its services. Currently, the ad is running on TF1, France’s national on-air station. Keplerk provides a virtual platform for consumers to exchange traditional fiat money for the digital currency Bitcoin(BTC)trade through exchange services in 6,500 different locations. The commercial features different functions offered by the company where customers can purchase vouchers of various values. Currently, three different packages of vouchers are available, 50 euros, 100 euros…

Bitcoin Cash Represents 93% of November’s Crypto Spending in Australia

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News.Bitcoin.com recently reported on web portal Bitcoinbch.com’s in-depth report, which detailed BCH outshining BTC retail spending in Australia by a wide margin during the month of September. The next month, BCH captured 90% of October’s crypto spending in the country. Now the website has published its November report that discloses all the crypto-based expenditures at retail businesses and once again, BCH is “dominating the Australian retail scene.” Also Read: Bitcoin Cash Captured 90% of October’s Crypto Spending in Australia October’s Crypto Retail Expenditure in Australia Bitcoinbch.com’s Hayden Otto has published…

Ethereum Price Weekly Forecast: ETH Reversal Could Unfold Above $158

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ETH price is struggling to gain pace above the $152 and $158 resistance levels against the US Dollar. The price is currently holding the main $144 support area and breakdown zone. There is a key contracting triangle forming with resistance near $150 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair could start a strong upward move once it surpasses $152 and $158. Ethereum price is trading above a few important supports against the US Dollar, similar to bitcoin. ETH price needs to settle above $158 for…

Bitcoin Weekly Forecast: BTC Won’t Go Quietly, Risk of Bounce Grows

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After forming a base above $7,000, bitcoin price climbed above the $7,500 resistance against the US Dollar. The price is currently correcting gains and it is trading below the $7,440 level. There is a major contracting triangle forming with resistance near $7,520 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The price is likely to stay above the $7,220 support and it could rally above the $7,500 resistance. Bitcoin price is trading above a couple of important supports against the US Dollar. BTC is likely to…

Death Spirals and BTC — What Happens When Miners Capitulate?

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The stagnation of the cryptocurrency market has put Bitcoin’s (BTC) price at risk of further decline, as it struggles to recover beyond key resistance levels. A descending price increases the probability of the so-called “miner capitulation” occuring, which is said to have triggered the major BTC drop in December 2018. Late last year, the Bitcoin price fell to around $6,000 following three months of stability in a tight range between $6,000 and $6,500. The subsequent drop to the $3,000s happened within the span of just one month. Why miner capitulation…