Day: April 3, 2020

Is China Losing Its BTC Mining Monopoly?

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This week the price of Bitcoin (BTC) surged more than 15%, reaching a high at $7,200 before pulling back into the $6,800 range. Despite the recovery, Bitcoin still has a way to go in order to reach the $8,000 level seen before the coronavirus-triggered selloff on March 12. Cryptocurrency market performance. Source: Coin360 The drop had several consequences on the Bitcoin network. Having reached the $3,800 price range, the accentuated drop forced some Bitcoin miners to throw in the towel and shut down their operations due to mining becoming unprofitable.…

BRI Remittance Brings Digital Identity to Banking With Blockchain Partnership

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Digital identity solutions are on the rise as consumers seek security and accessibility in a digitized world. A new report from 360iResearch shows that the global digital identity market is expected to have reached about $37 Million by the end of 2025. As COVID-19 continues to wreak havoc, this number could grow even larger.  Unsurprisingly, the trillion-dollar banking industry has already expressed interest in digital identity solutions. For example, Everest, a blockchain-based digital payments provider, has recently formed a partnership with BRI Remittance, a subsidiary of one of Indonesia’s largest…

Despite Coronavirus, Spain’s Tax Authority Shows No Mercy to Bitcoin Holders 

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The Agencia Estatal de Administracion Tributaria (AEAT), which is Spain’s tax agency, has announced plans to send out more letters to holders of bitcoin (BTC) and other blockchain-based cryptocurrencies in the nation in spite of the current global economic downturn caused by the coronavirus pandemic, according to reports on April 3, 2020. AEAT Puts Spanish Read MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News Original

Binance Shelters Against Job Losses During Global Pandemic

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While global unemployment continues hitting new highs amid the coronavirus pandemic, the cryptocurrency industry is stepping in to shelter job losses, with some of the biggest companies in the space announcing their intention to hire new employees. Binance, the world’s largest cryptocurrency exchange, has just announced that it is seeking to hire more than 100 new employees, despite the ongoing economic downturn. In an April 3 tweet, Binance invited people around the world to build a career in the Blockchain space, offering a crucial opportunity to “work from home” as…

2 Reasons a Deeper Correction in Stocks May End Bitcoin’s Rally to $8K

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The Bitcoin price (BTC) rallied to around $7,300 on April 3, and BTC is still holding onto the $6,700 support level, meaning the price could push the dominant cryptocurrency to the $8,000 area. But, a highly accurate hedge fund manager’s stock market warning could rattle the cryptocurrency market in the short-term. Dan Niles, the founding partner of Alpha One Capital Partners, said in a note to clients that the dire economic consequence of the coronavirus pandemic could lead to a steeper correction in the U.S. stock market. With Q2 earnings…

Exchange CEO Forecasts Crypto Market Uptick in Coming Weeks

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As the world sits in flux between coronavirus and financial market concerns, AAX crypto exchange CEO, Thor Chan, thinks cryptocurrencies will ultimately make out ok. “During a period of intense panic, many investors fled the markets in search of cash, or to defend their positions elsewhere,” Chan told The Merkle in a March 30 interview, referencing recent plunging crypto and mainstream markets. “Cryptocurrency markets suffered together with all other markets,” he continued, adding: “But over the coming weeks and months, as governments cut interest rates, I think we will see…

Blockchain Startup Bridging the Gap Between Bitcoin and Ethereum With tBTC

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U.S.-based entrepreneur, Matt Luongo has launched a blockchain protocol dubbed Keep, which aims to bridge the gap between the Bitcoin and Ethereum distributed ledgers through the tBTC altcoin. With tBTC, holders of bitcoin (BTC) will now be able to access Ethereum-based DeFi solutions without having to sell off their BTC for ETH, reports Bloomberg on Read MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News Original

Malaysian Securities Regulator Approves Crypto Trading Platform

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Following a nine-month-long probationary period, Malaysia-based cryptocurrency trading firm, Tokenize Malaysia, has received full approval from local securities watchdog. With the approval to operate a Digital Assets Exchange, the company’s cryptocurrency trading platform, Tokenize Xchange, became legally approved and regulated by the Securities Commission (SC) of Malaysia, local news outlet, SoyaCincau, reported on April 3. The exchange offers fiat-to-digital asset pairings. Malaysian laws require that local cryptocurrency exchanges register with the SC, after which they have up to nine month to achieve compliance with the SC’s regulation standards. Commenting on…

John McAfee Offers $500 in ETH-based DAI for Corona Apocalypse Pics

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Famed altcoin advocate, John McAfee, has put up a $500 reward in the Ethereum based stablecoin, DAI, for the best original photo taken in the midst of the coronavirus lockdown. The sea-bound computer programmer asked for pictures of vacant highways and cities from people who are still able to leave their homes for essential supplies and activities. McAfee tweeted: “Those able to leave your homes during quarantine … (to buy food or get medical care, etc.) … Take photos of interesting aspects of your vacant cities, highways, etc. $500 in…

Price Analysis April 3: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LEO

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Bitcoin price continues to push higher but major cryptocurrencies should sustain above their 20-day EMA to confirm that the downtrend might be over. On April 2 the U.S. Labor Department reported that the U.S. weekly jobless claims skyrocketed to 6.6 million. In the previous week, the claims stood at 3.3 million, meaning over the past two weeks the number of laid off American workers seeking unemployment benefits has reached 10 million. If the numbers continue to grow, the government and Federal Reserve is likely to announce another round of stimulus…