Most major cryptocurrencies have risen sharply from their recent lows which shows that bulls are building positions on every dip. Investors are rushing into various safe haven assets as the coronavirus death toll in China rises and the virus spreads in various Asian countries, the US, parts of Europe and Australia. Usually, the initial reaction to any crisis is to dump all asset classes but gradually, the investors start to differentiate between asset classes as they analyze the effect the crisis can have on them. After the initial sell-off in…
Month: January 2020
Israeli Regulators Request Feedback to Foster Blockchain Innovation
The Israeli Securities Authority (ISA) has issued a Jan. 20 Request For Information to identify potential regulations that prevent the development of blockchain-based ventures in the country. In addition, the regulator seeks to find out the practical applications of Digital Ledger Technology (DLT). As Israel’s financial watchdog, the ISA formed a committee to promote the development of the blockchain industry in the country. The regulator focused on platforms that issue and trade blockchain-based securities and their properties, including the use of tokens and smart contracts. This initiative builds from the…
Ukraine Plans to Track Suspicious Crypto Transactions Above $1,200
Ukraine’s financial watchdog intends to track crypto transactions exceeding $1,200, according to the head of the country’s Ministry of Finance, Oksana Makarova. For the first time, Ukrainian anti-money laundering law includes crypto as an asset to be monitored, among others. The threshold for triggering the scrutiny process is 30,000 Urkainian hryvnia (UAH), or US$1,200. “If exchanges, exchangers, banks or other companies make payments in cryptocurrencies worth more than UAH 30,000 in equivalent, they must verify such transaction and collect detailed customer information,” Makarova said in the interview. “The customer must…
Heated Debate Continues Over Bitcoin Cash Infrastructure Funding Plan
Last Wednesday, the founder of the mining operation Btc.top announced a proposal that would fund Bitcoin Cash (BCH) development over the course of six months. Over the last five days, the funding plan has been the most dominant conversation within the BCH ecosystem, as supporters debate the merits of the miner’s proposal. This week, BCH community members heard from the developer Imaginary Username, Bitcoin Unlimited’s Peter Rizun, and an opposing mining operation that dislikes the funding plan’s details. Also Read: Bitcoin Cash Miners Plan $6M Development Fund by Leveraging Block…
Crypto News Roundup for Jan. 27, 2020
Whether you’re a first-time listener or you’ve heard every episode, we’d like to know what you think about the show. What do you like? What don’t you like? What do you think we’ve totally missed but should be talking about every day or at least every week? Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and…
Bitcoin Breaks 7-Month Downtrend But Must Clear These Hurdles to $10K
The price of Bitcoin (BTC) found strong support at $8,200 last week, after which it started to rally toward $8,800 earlier today. Alongside with that, the total market capitalization of crypto found a support at $215 billion and starting to look bullish. Will this mean that the correction is over, and crypto is trending upwards? Crypto market daily performance. Source: Coin360 Bitcoin still in an uptrend since the low at $6,500 Bitcoin is still trending upwards since the low at $6,500, as previous resistance zones have become support. A recent…
Twitter’s Jack Dorsey May Help Bitcoin Price Drive to $100,000
Engineers from Square Crypto want to build a product that will make LN integration easier for the wallet developers. Whether Lightning Network is a good scaling solution or not is defined by adoption rates. So far, it is used mostly by the exchanges and people directly supporting Bitcoin Core. However, Twitter CEO Jack Dorsey thinks that development (and adoption) must flow faster. His revolutionary solution is called Lightning Development Kit (LDK) and is a creation of Jack’s new company. It has already obtained a license on operating as a crypto-to-fiat…
Russian State-Run Tech Firm to Decrease Spending on Blockchain by 50%
Russian government-backed corporation Rostec intends to cut spendings on the blockchain development in the country by at least 50%. According to Rostec’s roadmap, the organization is planning to spend 28.4 billion rubles ($453.2 million) on the development of blockchain technologies in Russia by 2024, instead of initial 55 billion ($877.8 million) to 85 billion rubles ($1.3 billion). The news was reported by domestic news outlet Kommersant on Jan. 27. The corporation detailed that the introduction of blockchain tech into the product labeling system will require 650 million rubles ($10.3 million),…
If You’re a Millennial, Buy Bitcoin
Billionaire investor Tim Draper recommended millennials buy Bitcoin (BTC) during an interview with FOX Business published on Jan. 22. Per the report, Draper believes that Bitcoin is of particular importance to millennials that are looking to set aside enough capital for retirement. He suggested that the traditional banking system is outdated: “You look at Bitcoin and you say ‘Hey, this is great because it’s not my father’s Oldsmobile. Our banking system is the Oldsmobile, is the old Oldsmobile.’” The faults of the banking system Draper also blamed traditional finance for…
Bitcoin Halving Is Getting Closer Boosting Interest, Will BTC Price Rise?
Set for 12 May 2020, the Bitcoin halving is just 105 days away. Bitcoin price is steady at 8K-9K level. However, we should note that the same figure was named last week. Despite the fact that time is going forward, the halving event is not getting closer according to popular countdowns. It may be evidence of the decreased hash rate. Arcane Research, a Norwegian Cryptocurrency analytics company, published a study showing the growing demand among people who search in Google for ‘bitcoin halving’. Google Trends shows that people are doubling…