May 12, 2020

Analysts Fear “Extreme” Post-Halving Bitcoin Capitulation: Why That’s Good

May 12, 2020 boss

On Monday, the Bitcoin block reward halving finally came to pass. It was an exciting event celebrated by tens of thousands of cryptocurrency investors, with thousands packing into celebratory live streams, tens of thousands liking halving tweets, and hundreds of thousands hearing about Bitcoin via the news. The halving was so popular that at one point, the topic trended on Twitter in the U.S., the U.K., and Canada (and maybe other countries). This came shortly after it did the same in China. We got Bitcoin halving trending!!! — Tim Copeland…

Analysts Fear “Extreme” Post-Halving Bitcoin Capitulation: Why That’s Good

May 12, 2020 boss

South Korea Sees Surge in New Blockchain Platforms for Trading of Unlisted Stocks

May 12, 2020 boss

South Korea’s progressive-thinking and liberal attitude on blockchain technology and cryptocurrencies recently got another boost. Industry sources revealed the upcoming launch of two new blockchain-based exchanges to bolster the financial trading of unlisted equities. Korea turns to blockchain According to a report, Dunamu and PSX will see the launch of blockchain-enabled services for the traditional finance sector. The two firms currently operate trading and investment platforms for users and are backed by Korean giant Kakao’s venture arm. The launch means three blockchain-based trading platforms will exist in Korea by 2021.…

Riot Blockchain’s Bitcoin Mining Revenues in Q1 Rise 70% Year-on-Year

May 12, 2020 boss

Biotech firm-turned-Bitcoin miner Riot Blockchain disclosed strong results for Q1 2020 in its latest quarterly report filed with the United States Securities and Exchange Commission (SEC). Published May 8, the report revealed the firm’s cryptocurrency mining revenue for the three months ending March 31, 2020 (Q1 2020) had hit $2.4 million — up from $1.4 million for Q1 in 2019. This represents a 70% increase in year-on-year revenue. Riot revealed that it had not, however, mined more cryptocurrency, stating that “Bitcoins produced in 2020 totaled 280 as compared to 330…

Bitcoin Advocates Cry Foul as US Fed Buying ETFs for the First Time

May 12, 2020 boss

Bitcoin (BTC) has only just completed its “hardening” — but fiat currency is already getting even “easier” as money after a historic move by the United States central bank. As the Federal Reserve confirmed in a press release on May 11, the bank is about to finally launch its corporate debt exchange-traded fund (ETF) buying programs. ETF buys to start imminently Known as the Secondary Market Corporate Credit Facility (SMCCF) and Primary Market Corporate Credit Facility (PMCCF), the two vehicles will start work “in the near future.” Announced in March…

Bitcoin Could Fall Another $1,000 According to This Textbook Indicator

May 12, 2020 boss

Bitcoin plunged by 18.79 percent after closing above $10,000 late Friday. The cryptocurrency found a short-term support area above $8,000, prompting traders to predict a $10,000-top retest. But a conflicting technical indicator sees bitcoin continuing its bearish correction. The “Bitcoin Halving” euphoria helped the cryptocurrency rise from its mid-March low of $3,858 to as high as $10,079 this Friday. But the so-called bullish event failed to convince traders about sustaining the price above the market’s latest top. The benchmark cryptocurrency fell by 18.79 percent less than a week after closing…

UAE Bank Opens Bangladesh Remittance Corridor using Ripple’s Blockchain Tech

May 12, 2020 boss

United Arab Emirates-based retail and business bank, RAKBank, is expanding its remittance routes using Ripple’s blockchain technology. Ripple, which provides distributed ledger payments products for financial institutions, was selected to help the UAE’s 9th largest bank provide quick cross-border payments in a new Bangladeshi corridor. A partnership, announced Sunday, between Bangladesh-based Bank Asia and RAKBank will allow users to transfer money between accounts at the two institutions within 24 hours, RAKBank said. RippleNet’s blockchain technology has been integrated with the bank’s own RAKMoneyTransfer service for the initiative. RippleNet is a…

UAE Bank Opens Bangladesh Remittance Corridor using Ripple’s Blockchain Tech

May 12, 2020 boss