Day: December 23, 2019

Mixed Outlook Looms as Bitcoin Rally Attempts to Get Closer to $8000

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The weekend was positive for Bitcoin with another batch mimicking up during late U.S. trading and early Monday morning in Asia. BTC/USD is currently trading at $7,521 (+ 5.4% on the daily chart). The coin has been recovering since Sunday. During the early Asian hours, the cryptocurrency attempted the area above $7,600. Sentiment among traders and analysts altered back up again as optimism for “a year-end rally” returned to cryptocurrencies. Analysts maintained their range during the sudden Bitcoin correction from $6,500 to levels close to $7,500 last week. Majority doubt…

Why the SEC Asked Blockforce Capital to Pull a Bitcoin ETF Proposal as Soon as It Was Filed

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When Reality Shares ETF Trust, a branch of Blockforce Capital, pulled its filing of a proposed exchange-traded fund made up of 15 percent bitcoin and 85 percent global currencies, many observers assumed the company made a mistake. It turns out the U.S. Securities and Exchange Commission previously told the asset management firm that it could file the proposal  — only if it pulled it immediately afterward, according to Blockforce’s CEO.  The proposal was filed under the Investment Company Act of 1940, which would have resulted in it becoming automatically approved…

Bitwise Expresses Commitment to Bitcoin ETF in a New Letter to the SEC

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The Bitwise digital asset management is still very much interested in creating a Bitcoin exchange-traded fund (ETF). On Wednesday, the firm sent a new letter to the United States Securities and Exchange Commission (SEC), responding to the earlier published 112-page rejection letter it received from the SEC back in October. Published by the SEC on Friday, the new letter addressed the SEC’s manipulation fears. According to the SEC, one of the reasons the Bitcoin ETF could not be approved was the risk of market manipulation. The SEC specified that since this was a potent…

Trust, technology and slippers with torches

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Much has changed since Jonathan Bamford, (former)  Director of Strategic Policy  (Domestic Policy),  joined the Information Commissioner’s Office, but as he comes to retire, he reflects on 34 years in data protection.   Jonathan Bamford holds up a tatty bundle of papers. They’re scrumpled, time worn, ripped and held together with yellowing Sellotape, but with the Royal coat of arms crown still proudly visible on the cover. It’s Jonathan’s copy of the UK’s first data protection act, issued to him when he joined the ICO 34 years ago. “It’s well worn…

Hackers Grab Nearly $480K From Blockchain Platform Nuls

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Blockchain platform Nuls has lost almost $480,000 worth of NULS tokens due to a hack, according to a security update tweeted on Dec. 22. In its tweet, Nuls said it had detected that 2 million tokens had been transferred, of which 548,354 tokens — worth roughly $131, 600 — had entered the trading market and were now untraceable.   Mandatory hard fork upgrade to be released ASAP In response to the theft, Nuls has decided to hard fork the blockchain at block height 87,800: “After the hard fork, the remaining 1451645.65303905…

Bitcoin Price Surges 5% to Move above $7600 in the Crypto Market Rally

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It’s a good start to the week as Bitcoin and the majority of altcoins have turned green in the crypto market rally. In the last 24-hours, the overall cryptocurrency market added $10 billion. Simultaneously, the BTC price has surged nearly 5% moving above $7600. Bitcoin is currently leading today’s market rally with Ethereum posting under 3% gains. Last week, Bitcoin was struggling to cross $7000 and instead went all down below $6600 levels. However, it quickly managed to cover its lost ground and surge above $7000 levels. Today’s BTC price…

Coinbase Phases Out Earn.com, Doubles Down on Coinbase Earn

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Cryptocurrency exchange Coinbase plans to shut down cryptocurrency learning platform Earn.com in favor of its in-house developed counterpart Coinbase Earn. Industry news outlet The Block reported on Dec. 22 that Coinbase announced in an email to its customers that the exchange plans to only focus on Coinbase Earn and will be “sunsetting Earn.com.”  Earn.com and Coinbase Earn are platforms that compensate their users with crypto assets for learning about them and completing educational tasks. Coinbase had initially acquired Earn.com in April 2018. Earn.com users are advised to withdraw their balances…

SEC Will Rule on Wilson Phoenix Bitcoin ETF Proposal By Feb. 2020

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The United States Securities and Exchange Commission (SEC) has earmarked a longer period for considering an updated Bitcoin (BTC) and U.S. T-Bills exchange-traded fund (ETF) proposal by Wilshire Phoenix Fund. In a notice published on Dec. 20, the regulator indicated it would come to a decision on approval or disapproval of the fund by Feb. 26, 2020 — 240 days after the publication of Wilshire Phoenix’s last proposed rule change to its filing. Fund would have two constituent assets, Bitcoin and U.S. T-Bills As previously reported, Wilshire Phoenix’s proposal has…

Bitcoin Price Gathering Pace: $8K or More by Christmas?

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Bitcoin Price Gathering Pace: $8K or More by Christmas? December 23, 2019 by Ramiro Burgos The bitcoin price is still stuck in the $7,000 USD range despite its bump over the past 24 hours. A bit of Christmas cheer is always welcome, but is it temporary or a sign of better things to come? Read our weekly technical analysis to find out. Also read: Bitcoin Price: It’s $7K for Now, but Hope Is on the Horizon Bitcoin Price Technical Analysis Long-Term Analysis A lateral market is recognizing the ascending curve of…

Bitcoin Just Spiked to $7,600 and It’s Showing 2 Big Signs of a Real Recovery

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Overnight, the bitcoin price rose to as high as $7,642 and is up by more than $1,200 within five days. With the reversal, the dominant cryptocurrency crucially avoided miner capitulation and retest of an ascending channel dating back to 2015. #1: No bitcoin miner capitulation, at least for now As reported by NewsBTC, the capitulation of small bitcoin miners or “miner capitulation” is no longer ongoing. The Bitcoin network achieved a new record high hashrate this week, squashing speculation of miners selling off equipment and their holdings of BTC amidst…