May 11, 2020

There’s a 77% Chance Bitcoin Trades At $10,000 This Week

May 11, 2020 boss

Just 72 hours ago, Bitcoin was trading at $10,100, but the cryptocurrency has since sustained a strong drop. This culminated on Saturday evening and Sunday morning, when Bitcoin crashed from the $10,000 highs to $8,100 within the span of a few hours. It was a strong drop that liquidated over $200 million worth of long positions on BitMEX, as reported by NewsBTC previously. Chart of Bitcoin’s price action from May 6 to 11 from TradingView.com. Bitcoin’s stark reversal from the highs has convinced many of a bearish case. One prominent…

4 Things to Know for BTC Price This Week

May 11, 2020 boss

Bitcoin (BTC) has delivered awe-inspiring volatility in the days before its third block reward halving — but what should traders look out for as the event hits? Cointelegraph takes a look at what factors to consider for traders and hodlers in one of the top-ranked cryptocurrency’s most important weeks so far. A record Bitcoin futures gap hits Monday is on track to open with seemingly the largest Bitcoin futures gap in history — over $1,200. Futures gaps occur when the start of one weekly trading session on futures markets is…

Croatia: Financial Regulator Approves First Regulated Bitcoin Fund

May 11, 2020 boss

In a significant development for the global cryptocurrency space, the Croatian financial regulator Hanfa has approved a Bitcoin (BTC) investment fund for the public to invest in. The fund is Croatia’s first regulated, crypto alternative asset fund. Croats Gain Access to Regulated Bitcoin Fund Just days before the highly-anticipated Bitcoin halving, the Croatian financial watchdog Hanfa has approved Griffon Asset Management’s Passive Digital Asset fund. Per sources close to the matter, the regulator has also approved Croatian state-owned bank HPB to serve as the Bitcoin fund’s depository. Notably, the newly…

DBS Bank Joins Global Blockchain Network to Digitize Trade Settlement

May 11, 2020 boss

Singapore-based multinational banking firm DBS Bank has joined the blockchain trade-finance network Contour, which is built over R3’s Corda. Contour is due for a main-launch later this year. According to a May 11 report by the business news outlet The Business Times, DBS Bank is the first bank from Singapore to join the network. Major institutions such as BNP Paribas, Bangkok Bank, ING, HSBC, Standard Chartered and Citi Ventures founded Contour. Digitizing for efficiency DBS looks forward to digitizing its end-to-end letters of credit settlement process through the platform’s blockchain…

Ripple (XRP) Turned ‘Sell’ on Rallies: $0.18 and $0.17 Are Likely Targets

May 11, 2020 boss

Ripple declined heavily from well above the $0.2200 resistance against the US Dollar. XRP is currently recovering, but upsides are likely to remain capped near $0.2080 and $0.2100. Ripple is trading in a bearish zone below the $0.2000 pivot level against the US dollar. The price traded as low as $0.1872 and it is currently correcting higher. There is a short term bearish trend line forming with resistance near $0.19855 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could correct higher towards $0.2080, but…

Average BTC Transaction Fees Increased 300% Days Before Halving

May 11, 2020 boss

With the third Bitcoin rewards halving scheduled in approximately 14 hours at the time of press, the average value of transaction fees has surged more than 300%. According to data available on Bitinfocharts, the average transaction fees for Bitcoin (BTC) on May 8 peaked at $3.19, an increase of over 300% from the average fee on April 26, $0.62. The last time the average BTC transaction fee was over $3.00 was in July 2019. Source: Bitinfocharts Historically, Bitcoin transaction fees prior to a halving event have increased markedly. The last…