Day: March 13, 2020

The World Gold Miner Tokenizes Assets and Opens Trading on Coinsbit, Simex and P2PB2B Exchanges

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Recently, in search of easy and big profits, to the crypto market have come many new investors who thoughtlessly invested money and manipulated the price of cryptocurrencies, as a result of which this Big Bubble burst. The great and terrible “Crypto-disaster of 2018” happened during which many coins either lost their entire price or still have not regained their position. And although some projects were fraudulent, most startups only too late realized the importance of creating a truly viable, crisis-resistant management system. Now the situation has changed a lot. Investors…

How North Korea Laundered $100 Million of Stolen Crypto

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Blockchain forensics firm CipherTrace has published a detailed analysis of how two Chinese nationals. associated with North Korea. laundered tens of millions of dollars worth of stolen cryptocurrency. The pair are believed to be associated with the shadowy Lazarus Group, which was behind the Sony breach in 2014, the WannaCry ransomware epidemic in 2017, and a $7 million attack on Bithumb (also in 2017). They used ‘peel chains’ to hide the size of deposits to avoid unwanted attention, and doctored photographs to fool KYC verification processes, among other tricks. On…

Bitcoin Is Carving Short Term Bottom Near $4K After A Massive 50% Decline

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Bitcoin is down more than 50% and broke many key supports such as $5,000 against the US Dollar. BTC price seems to be forming a short term bottom near $4,000 and it could recover. Bitcoin tumbled below many important supports and tested $4,000 against the US Dollar. The price is currently recovering from a major technical level near the $3,900 area. There was a break below a key bullish trend line with support at $8,480 on the daily chart of the BTC/USD pair (data feed from Kraken). A short term…

The Real Reason Why Bitcoin Had Its Worst Crash in 7 Years

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Bitcoin plunged by nearly 40% in the last 24 hours. The brutal stock market selloff is killing other asset classes. Bitcoin’s safe-haven and uncorrelated asset narratives have been thrown out of the window. Bitcoin has a history of heart-stopping volatility but they all pale in comparison to what happened in the last 24 hours. The king cryptocurrency bowed down to macro forces as it lost nearly 40% of its value in yesterday’s trading. The last time something similar happened was back in 2013 when bitcoin plummeted by close to 50%…

Bitcoin Under $1K is Possible Warns Veteran Trader Peter Brandt

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Bitcoin dipped below $4000 today, for the first time since the depths of crypto winter — and one veteran market analyst believes it could have even further to fall. Crypto markets have been in freefall following the announcement of travel bans yesterday between the U.S. and Europe, and ongoing volatility in all financial markets.  Veteran trader Peter Brandt — who is famous for correctly predicting the market crash from the all time high — today tweeted an answer that no one wanted to hear in response to an inquiry about the…

Ripple (XRP) Could Recover From $0.12 After A Massive 50% Drop

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Ripple is down more than 50% in a day and broke the $0.1500 support against the US Dollar. XRP price tested the $0.1200 support area and it is currently showing a few recovery signs. Ripple price is down more than $0.1000 and it recently tested the $0.1200 support against the US dollar. The price is currently correcting higher from the $0.1174 swing low. There is a major bearish trend line forming with resistance near $0.1900 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The price might…

South Africa Looks to Blockchain to Reduce Unemployment

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The South African Presidential Commision on the Fourth Industrial Revolution believes that blockchain technology and Artificial Intelligence could help reduce unemployment in the country. Commissioner Mpho Dagada told the Blockchain Africa Conference in Johannesburg this week that blockchain could bring important economic benefits. “We face two significant challenges in the country: reducing unemployment and increasing our Gross Domestic Product (GDP),” he said. “[The] Fourth Industrial Revolution policy creation can create economic growth in the country.”  Dagada said that South Africa’s mining sector in particular could benefit from forward thinking solutions…

Ethereum Bears Are Not Done Yet, Here’s Why ETH Could Test $68

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Ethereum is down more than 50% in a day against the US Dollar. ETH price broke many crucial supports and it is now approaching the $78 and $68 support levels. Ethereum collapsed below $150 and $100 in a harsh market crash against the US Dollar. The price is forming a huge bearish candle on the daily and weekly chart. There was a break below a major bullish trend line with support at $183 on the weekly chart of ETH/USD (data feed via Kraken). Bitcoin price is down more than 45%…

Bitcoin Price Drops to $3,637, Rebounds Above $5,200 Within Minutes

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Within the last hour Bitcoin price dropped below $4,000 after abruptly plummeting 11.24% to a new yearly low at $3,782. The sharp downside move seems short lived as the price quickly rebounded to $5,260. BTC USDT 1-hour chart. Source: TradingView On the 1-hour timeframe traders will notice that a strong oversold bounce took place after the relative strength index dipped to 8.45, a low not seen since November 23, 2018.  For the time being, traders will closely watch to see if the current oversold bounce leads to a more sustained…

MEW App Allows You to Buy Crypto Instantly — But There’s a Catch

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MyEtherWallet has released a mobile app called MEWconnect that allows users to buy crypto in under 15 seconds — but there’s a catch. Users need to have Apple Pay and face fees of 3.99% in the United States, and 5.25% in the rest of the world. Google Pay is not yet supported. Still, this is the first mobile app and fiat onramp for MEW — one of the widely used cryptocurrency wallets in the world. The fiat on-ramp is provided through a partnership with blockchain money transfer company Wyre. MEW…