Located at the intersection between Europe and Asia, Georgia is a small country with a big mission to drive blockchain adoption and education. In February 2017, the government of Georgia made a bold move by signing an agreement to use the Bitcoin blockchain to record land titles, making it the first national government to use blockchain for authenticating state operations. Georgia’s innovation didn’t stop there, rather continuing to grow as the country became a powerhouse for mining crypto. Then, in June 2019, the government of Georgia signed a memorandum of…
Day: September 5, 2020
Bitmex Launches its Highly Anticipated Mobile App
Quick take: Bitmex has finally launched a mobile app Bitmex had long been without a mobile app and users had requested it for quite some time The mobile app will provide users with a full range of innovative products It is currently available on the Google Play Store and Apple Store Moments ago, the team at Bitmex has announced the release of its highly anticipated mobile trading app. The exchange had hinted about launching a mobile app back in June and this move is in line with Bitmex providing users…
This Simple Chart Shows Why Bitcoin Remains Bullish on a Macro Scale
Bitcoin has sustained a strong drop over the past few days as legacy markets have undergone a strong correction after a record rally. The leading cryptocurrency traded around $9,800 on Friday morning as bears sent the cryptocurrency lower. This is a stark correction from the $12,000 local highs seen just days ago and the $12,500 seen in August. Bitcoin remains bullish on a macro scale, though, as analysts note that the asset’s long-term chart and fundamentals remain skewed to appreciation. Related Reading: These 3 Trends Suggest BTC Is Poised to Bounce…
South African Man Charged in U.S. Court for Fraud Involving $28 Million in Bitcoin and Forex
A South African man has been charged with fraud in the Maryland District Court for allegedly scamming $28 million from over 1,000 investors. Dennis Jali, a former resident of Maryland, targeted church-going African immigrants, promising them guaranteed returns on his supposed bitcoin (BTC) and foreign currency investment pool. In a press statement, the U.S. Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) said it jointly charged Jali and two accomplices for orchestrating the “Ponzi scheme”. Arley Ray Johnson and John Frimpong, both of Maryland, fraudently solicited…
Long-Term Bitcoin Investors Hold Steady Despite $2,000+ Plunge
After a prolonged period of stability and sideways trading within the $11,000 region, Bitcoin finally witnessed an influx of selling pressure that put an end to this consolidation. This caused the cryptocurrency to plummet down to lows of $9,900 earlier today, at which point buyers stepped up and slowed its descent. From here on out, where it trends in the near-term should depend largely on whether or not the $10,000 region is defended. Data shows that a good portion of this selling pressure came from recent buyers who panic sold…
Tim Draper Heaps Praise on Bitcoin Cash
Billionaire and venture capitalist Tim Draper has praised bitcoin cash after recently purchasing the coin. Lauding the ease of use as well as buying it, Draper encourages his followers to do likewise. Draper’s endorsement comes as the Bitcoin Cash (BCH) community braces for a fork instigated by Bitcoin ABC’s infrastructure funding proposal (IFP). Yet despite the ongoing split reports, Tim Draper, the crypto supporting billionaire, still praises BCH and gives thanks to Roger Ver “for this innovation.” Although Draper’s tweet does not provide specific reasons for the praise, it would…
Crypto Market Collapse Was “Profit-Taking” and “Rebalancing”
After reaching a point of extreme greed, the crypto market in a flash turned to fear. But investors shouldn’t panic––according to stock market analysts, the recent crash was normal profit-taking and portfolio rebalancing. Could that also be the case with crypto, and the market will soon recover after what is a normal and healthy correction? Is The Current Market Correction Healthy, Or A Sign Of A Deeper Drop Developing? Across all markets this week, there’s been a massive selloff across the board. Among the hardest hit, were overvalued tech stocks…
Apple stock market cap shows just how small crypto still is
While the crypto space has seen tremendous growth over the past decade, the asset class still holds a tiny amount of value compared to mainstream markets, especially when pitted against giants such as Apple. Apple stock (AAPL) holds a staggering $2 trillion market cap, dwarfing all the speculative capital held within the entire crypto space, which, at press time, totals a mere $342.8 billion according to CoinMarketCap. The crypto industry has grown from simply a concept in 2008, with the inception of Bitcoin’s white paper, to hosting billions of invested dollars. Bitcoin…
Trader That Predicted Bitcoin’s Plunge Under $10,000 Thinks This Comes Next
Few expected Bitcoin to be in the position it’s in now just days ago. Just earlier this week, the leading cryptocurrency was riding high, trading above $12,000 as investors thought the rally to new all-time highs had begun. There were reasons to believe this: gold was surging, the U.S. dollar was crashing, increased inflation was hinted at, and altcoins were surging. But one trader, the whole time, was predicting a strong move lower under $10,000 to $9,755. With Bitcoin having traded under $10,000 twice in the past few days, he’s…
Bitcoin May Plunge to $8,000 If It Breaks Below One Crucial Level
Bitcoin has been facing immense turbulence throughout the past several days, with sellers forcing its price down to lows of $9,900 this morning following yesterday’s ardent defense of the upper-$9,900 region. It now appears that the cryptocurrency is at risk of seeing further downside in the near-term, as the multiple attempts to shatter its $10,000 support seem to indicate that bears are building momentum. One analyst is noting that the cryptocurrency’s pivotal price region to watch in the near-term sits at $8,140, which could mean that a decline to this…