Day: December 11, 2019

FinCEN Director Notes Improved Oversight of Cryptocurrency Industry

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The director of the Financial Crimes Enforcement Network (FinCEN) says the cryptocurrency industry has begun to fall in line with the agency’s regulations on money transmission services. In a speech delivered at the American Bankers Association/American Bar Association Financial Crimes Enforcement Conference on Dec. 10, Kenneth A. Blanco claimed that FinCEN’s May 2019 guidance was having a marked and positive impact on its oversight of the crypto space. Crypto reporting has significantly increased since May In May, FinCEN published guidance for crypto businesses that clarified how its regulations relating to…

Crypto Scam Coinjer Attracts Victims by Promoting Free Bitcoin Reward

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A user on Reddit recently shared his experience with Coinjer, calling it an elaborate cryptocurrency scam that has recently surfaced on the internet. The user, @m3l0n, shared that he received a message on Discord, a platform for video gaming communities, advertising that users could win 0.25 Bitcoin, almost equivalent of $1,830 based on the current Bitcoin price. The requirement for receiving the 0.25 BTC was to be a member of one of the cryptocurrency affiliate discords run by the network, and an article regarding the giveaway was also attached. The…

Bitcoin (BTC) Price Downside Thrust Underway, Bulls Struggling

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Bitcoin price failed to stay above the $7,400 support and declined recently against the US Dollar. The price is trading below $7,280 and it could even decline below the $7,160 support. There is a major declining channel forming with resistance near $7,240 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains at a risk of a downside thrust below $7,160 and $7,040 in the near term. Bitcoin price is showing a few bearish signs below $7,280 against the US Dollar. BTC is likely to…

Bitcoin And Crypto Market Cap Turn Red: BCH, Litecoin, XTZ, TRX Analysis

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The total crypto market cap is declining and struggling to stay above the $188.0B support. Bitcoin price is down more than 2% and it broke the $7,320 support area. Litecoin (LTC) price is sliding and it may soon test the $42.20 level. BCH price is struggling and it seems like it could break the $200 support area. Tron (TRX) price is currently consolidating near the main $0.0140 support area. Tezos (XTZ) it outperforming and it is now trading nicely above $1.500. The crypto market cap and bitcoin (BTC) are declining…

Ross Ulbricht Uses Elliot Waves to Predict Bitcoin’s Trajectory From Behind Bars

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Ross Ulbricht, serving life without parole for allegedly running the Silk Road marketplace, hasn’t allowed his detention to deprive him from monitoring bitcoin’s price action. In a new blog series titled Bitcoin by Ross, Ulbricht reveals that he is closely attuned to BTC’s price movements, and shares some suggestions as to where the market might be headed next. Also read: Film Reveals Never-Before-Seen Information About the Silk Road Case Bitcoin Analysis Without the Noise There are few advantages to being locked up in a maximum security facility, but one unexpected…

Ripple (XRP) Price Turned Sell On Rallies: BTC & ETH Down

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Ripple price declined recently below the $0.2240 and $0.2220 support levels against the US dollar. The price is currently correcting higher, but facing resistance near $0.2240 and $0.2260. There is a key bearish trend line forming with resistance near $0.2240 on the hourly chart of the XRP/USD pair (data source from Kraken). Ethereum is facing an increase in selling pressure below the $148 and $150 levels. Ripple price is back in a short term bearish zone against the US Dollar, similar to bitcoin. XRP price could correct higher, sellers remain…

Ethereum (ETH) Holding Uptrend Support But For How Long?

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Ethereum is holding the main $144 support, but also struggling to rise against the US Dollar. The price is now trading below the previous support (now resistance) near $148. There is a key bearish trend line forming with resistance near $147 on the hourly chart of ETH/USD (data feed via Kraken). The price is likely to struggle near the $147 and $148 resistance levels in the near term. Ethereum price is facing an increase in selling versus the US Dollar, similar to bitcoin below $7,400. ETH price could even struggle…

Ethereum Ice Age May be Imminent If Miners Withdraw From Network

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The Ethereum block difficulty began to grow back in November 2016. Since then, developers have been constantly forced to carry out hard forks to keep the network up until the transition to a proof-of-stake algorithm takes place. In the lead-up to the Istanbul upgrade, implemented on Dec. 8, the Ethereum team decided again to postpone the explosion of a so-called “difficulty bomb,” which some believe may lead to the onset of an Ice Age. How can this happen and what would be the consequences if the Ethereum network froze? Difficulty…

World’s 2nd-Largest Bank CCB Launches Blockchain Refactoring: Report

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China Construction Bank (CCB), the world’s second-biggest bank by operated assets, has officially launched its blockchain-based refactoring platform. Targeting commercial factoring business, CCB aims to bolster operations and reduce major risks in its refactoring business while providing shared data access by multiple participants, Chinese news outlet Sina Tech reports Dec. 6. As reported, factoring firms represent third parties that buy businesses’ invoices at a discount in order to help those businesses raise funds. CCB’s blockchain trading platform reached $50 billion in cumulative volume in October The news comes after CCB…