As per reports from Forbes on January 27, 2020, Bitcoin (BTC), the world’s largest cryptocurrency experienced a 5% rise, briefly climbing as high as $9,142.80 per Bitcoin on the Luxembourg-based BitStamp exchange before slightly falling back afterward. At the moment of writing, Bitcoin price is $9,017. However, this price still demonstrates a more than 4% growth over the last 24 hours. Since Bitcoin enjoyed a tremendous boost in 2017, it has struggled to reach a similar height. The crypto is still half its all-time high. It suffered a huge setback…
Month: January 2020
Bitcoin Rallies to Near $9,150 as Stocks Drop Over Coronavirus Fears
Bitcoin is maintaining its upward trajectory as coronavirus-led risk aversion hits the traditional markets. The top cryptocurrency by market value crossed the 200-day moving average at $9,000 during Tuesday’s Asian trading hours and rose to a high of $9,150, pushing the cumulative month-to-date gains to over 25 percent. At press time, bitcoin is changing hands at $9,061. Despite the minor pullback from the morning’s high, the cryptocurrency is still reporting a 4.8 percent gain on a 24-hour basis, and is up roughly $700 from lows near $8,250 observed over the…
Oil Giant Saudi Aramco Buys Into Blockchain Trading Platform Vakt
Saudi Arabia’s state oil company, Saudi Aramco, has bought into the blockchain-based oil trading company Vakt, Reuters reports on Jan. 28. Saudi Aramco’s Energy Ventures branch has bought $5 million in new shares, according to Vakt’s press release. The investment will be used to develop the platform, with a focus on expansion into the Asian market. In addition to investment, the oil conglomerate’s trading subsidiary Aramco Trading is set to use the Vakt platform. The platform is currently live in the North Sea Brent, Forties, Oseberg, Ekofisk and Troll crude…
BTC Price Back at $9,000 But No, Coronavirus Isn’t ‘Good for Bitcoin’
Bitcoin (BTC) may be gaining thanks to “economic fear” over coronavirus — but only up to a point, analysts are concluding as the disease spreads. The cryptocurrency hovered at around $9,000 on Tuesday, capping 4% gains for the week in which coronavirus sent China into partial lockdown. Coronavirus uncertainty creeps into markets Fears are now surfacing about the impact on Chinese economic growth, while global signals also suggest investors are more cautious about the short term. For Cointelegraph Markets analyst Mati Greenspan, the sentiment is already palpable. Uploading a chart…
One of World’s Richest Firms Joins Blockchain Trade Platform Vakt After $5M Investment
The investment arm of one of the biggest firms in the world by revenue – oil giant Saudi Aramco – has made a $5 million investment in Vakt, a commodities post-trade processing platform based on blockchain tech. Announced in a press release Tuesday, Saudi Aramco Energy Ventures (SAEV) now joins 11 other investors in Vakt. The oil giant also intends to become a user of the Vakt platform via another subsidiary, Aramco Trading Company. SAEV parent firm Saudi Aramco, according to Wikipedia, has the second biggest daily oil production and…
One of World’s Richest Firms Joins Blockchain Trade Platform Vakt After $5M Investment
The investment arm of one of the biggest firms in the world by revenue – oil giant Saudi Aramco – has made a $5 million investment in Vakt, a commodities post-trade processing platform based on blockchain tech. Announced in a press release Tuesday, Saudi Aramco Energy Ventures (SAEV) now joins 11 other investors in Vakt. The oil giant also intends to become a user of the Vakt platform via another subsidiary, Aramco Trading Company. SAEV parent firm Saudi Aramco, according to Wikipedia, has the second biggest daily oil production and…
Bitcoin Beats Gold as Coronavirus Death Toll Rises to 107
The spread of the coronavirus in China has really shaken the world. On Tuesday, January 28, the Chinese authorities said that the coronavirus outbreak has infected over 4000 individuals with over 100 deaths registered. Moreover, the global markets have already reacted to this alarming situation as we saw global stock plunging on Monday. At this time, Bitcoin and other cryptocurrencies are showing upward movement. The Bitcoin price surged nearly 5% today climbing above $9000 levels. At press time, the world’s largest cryptocurrency is trading at $8987 with a market cap…
Singapore Act to License Cryptocurrency Firms Comes Into Effect
Legislation regulating the operations of cryptocurrency firms in Singapore comes into effect today, Jan. 28. The new Payment Services Act will regulate cryptocurrency payments and trading enterprises under some aspects of the regulatory regime that currently governs traditional payment services and require them to hold a license. Crypto payment services must also comply with the Financial Advisers Act, Insurance Act, Securities and Futures Act and the Trust Companies Act. The new rules place crypto services under the oversight of the Monetary Authority of Singapore. The regulator announced in a press…
British Court Freezes $860,000 in Bitcoin Linked to Ransomware Payout
A U.K. court has ordered Bitfinex to freeze bitcoin worth $860,000 after the crypto exchange and blockchain sleuthing firm Chainalysis traced the funds to a ransomware payment. The victim of the ransomware attack had paid $950,000 in bitcoin to the perpetrator through an insurance company, according to a filing published last week by the England and Wales High Court (Commercial Court) and first reported by New Money Review. While some of the bitcoin was converted into fiat currency, the remainder appears to have been sent to an address on the…
Bitcoin Must Hold $9K for 2-3 Days to Secure Bull Market
Bitcoin (BTC) rising above $9,000 has turned heads amid fresh uncertainty in China but has yet to convince one of its best-known traders. In the latest episode of his Trading Bitcoin YouTube series on Jan. 28, Tone Vays said that despite the past week’s upward price momentum, he was not yet bullish on Bitcoin. Vays: BTC has not confirmed the bull market “Am I ready to declare a bull market? No,” he summarized. Famously cautious about overly enthusiastic price forecasts, Vays previously warned markets were giving mixed signals and that…