Day: February 3, 2020

Bitcoin Usage Among Merchants Is Up, According to Data From Coinbase and BitPay

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Although bitcoin adoption may move at a glacial pace, merchants are seeing sustained traction regardless of market dips.  According to BitPay CMO Bill Zielke, the payment processor facilitated $1 billion worth of cryptocurrency transactions in 2019, with bitcoin leading the pack. Likewise, a Coinbase spokesperson said Coinbase Commerce processed $135 million worth of cryptocurrency payments for thousands of merchants in 2019, which represents a 600 percent increase in the number of unique transactions via Coinbase Commerce since 2018.  Ether and various stablecoins make up a small percentage of both of…

Reginald Fowler Rejects Plea Deal in Crypto ‘Shadow Bank’ Case

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Reginald Fowler, a former investor of the U.S. football team Minnesota Vikings, has rejected a plea deal with the U.S. government in an ongoing case that accuses him of operating “shadow bank” services tied to crypto exchanges. According to a letter submitted by the prosecutor of the case on Jan. 31, Fowler “rejected the current plea offer” on Jan. 30 and the U.S. government “has formally withdrawn that offer.” As such, the parties will move to trial as scheduled on April 28. Fowler was indicted in April 2019, along with…

Reginald Fowler Rejects Plea Deal in Crypto ‘Shadow Bank’ Case

boss

Reginald Fowler, a former investor of the U.S. football team Minnesota Vikings, has rejected a plea deal with the U.S. government in an ongoing case that accuses him of operating “shadow bank” services tied to crypto exchanges. According to a letter submitted by the prosecutor of the case on Jan. 31, Fowler “rejected the current plea offer” on Jan. 30 and the U.S. government “has formally withdrawn that offer.” As such, the parties will move to trial as scheduled on April 28. Fowler was indicted in April 2019, along with…

Bitcoin Verde’s New Project Aims to Promote Bitcoin Cash Node Diversity

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Software developer Joshua Green announced Friday via the read.cash blog that the Bitcoin Verde team is launching a project to increase mining diversity. Green believes all the Bitcoin Cash implementations should “strive to be viable mining alternatives” and he’s encouraging full node developers to focus on this goal. Additionally, the engineer disclosed Bitcoin Verde will be constructing a block template validation system that removes the risk associated with miners running different implementations. Also read: How to Obscure Bitcoin Cash Transaction Data by Leveraging Cashfusion Bitcoin Verde Announces the Construction of…

Bitcoin Defies Gravity: Failed Head And Shoulders Could Trigger Massive Rally

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Bitcoin price jumped above the $9,550 resistance to invalidate a key head and shoulders pattern against the US Dollar. It seems like BTC is primed for a massive rally above $10,000. Bitcoin bears failed to push the price below the main $9,150 support against the US Dollar. The bulls gained control, resulting in a fresh increase above $9,500. There is a connecting bullish trend line forming with support near $9,280 on the hourly chart of the BTC/USD pair (data feed from Kraken). On the upside, the $9,500 and $9,580 levels…

Winklevoss Patents Tout Use Case for Gemini Stablecoin Tech in Banking

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The owners of the Gemini cryptocurrency exchange, the Winklevoss brothers, have won a flurry of U.S. patents for stablecoin technology they say could be issued by commercial banks. Six patents, awarded between August 2019 and January 2020 to Tyler and Cameron Winklevoss’ intellectual property company, outline a system, similar to the collateralized token model already used by tether and the brothers’ Gemini dollar (GUSD), that allows users to directly swap fiat currency for their digital equivalents. The stablecoin system needs “trusted entities” charged with generating, exchanging and destroying the stablecoins,…

Ripple (XRP) Smashes $0.25 To Open Doors For $0.30: Key Levels To Watch

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Ripple gained recently and broke the $0.2450 and $0.2500 resistance levels against the US Dollar. XRP price is currently correcting, but it is likely to continue higher towards $0.3000. Ripple price climbed higher and traded to a new monthly high at $0.2616 against the US dollar. The price is currently correcting lower, but dips remain supported near $0.2480 and $0.2450. There is a short term declining channel or a bullish flag forming with resistance near $0.2580 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair…

$220: Ethereum Bulls Aim Big After Recent Bearish Rejection

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Ethereum price is trading with a positive bias above the $180 and $185 levels against the US Dollar. ETH is likely to continue higher towards $200 or $220 in the near term. Ethereum is trading in a bullish zone above the $180 pivot area against the US Dollar. The price climbed higher recently and revisited the $194-$195 resistance area. There was a break above a major contracting triangle with resistance near $182 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is still struggling to stay above…

Here’s Why a Bigger Price Explosion Is Expected

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In the past 20 minutes, Bitcoin has finally exploded higher out of the weekend range, breaking above $9,500 for the first time since the strong top seen on January the 30th. Per data from TradingView, the cryptocurrency just minutes ago hit $9,620 — rallying 2.3% higher in the span of about 10 minutes. The timing of the surge was eerie: in the same five or ten minutes, Bitcoin surged 2% out of left field as the Shanghai Stock Exchange Composite dropped 8% on the fear of the coronavirus outbreak affecting…

Why is the Crypto Market Up 35% In a Month? Analysts Tell All

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In December, crypto analysts across the board were almost certain that Bitcoin was poised to fall to the $5,000s and maybe even lower; after surging to $14,000 by June 2019, the cryptocurrency had entered a steep downtrend, marked by successive lower lows and lower highs. But, this changed at the turn of the year. After showing signs that it was going to head lower in 2020, the crypto market saw a massive bullish reversal in the month of January, with the market cap rallying from $185 billion to $250 billion,…