Day: August 7, 2018

Bitcoin (BTC) Price Watch: Aiming for Wedge Bottom?

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Bitcoin Price Key Highlights Bitcoin price is on another day of declines, possibly setting its sights on longer-term support zones. Price has already closed below the 50 SMA to reflect a pickup in selling pressure. The next downside target might be the yearly lows or the bottom of the falling wedge on the daily chart. Bitcoin price appears to be setting its sights on the bottom of the falling wedge pattern visible on the daily time frame. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to…

Crypto Markets Slump Following SEC Bitcoin ETF Delay

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After solid growth to break above the $7,000 mark earlier today, Bitcoin (BTC) saw a loss of around $500 in six hours. At press time, all of the top ten cryptocurrencies other than Tether (USDT) are in the red, according to Coin360. Market visualization from Coin360 BTC is trading around $6,598 at press time, dropping 5.29 percent over the last day and bringing a new weekly low. The decline follows today’s news that the U.S. Securities and Exchange Commission (SEC) postponed its decision on the listing and trading of a…

Bitcoin the ‘Best House in a Tough Neighborhood’: Wall Street Strategist

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Despite the positive news seen in the crypto space recently with ICE, the owner of the world’s largest stock exchange, setting up a new bitcoin market, the rumors that bitcoin ETFs are on the way (but maybe not in 2018), and the classification of bitcoin as a commodity by the SEC, the price of bitcoin and altcoins has been steadily dropping in the current downward trend, with bitcoin sliding back below the $7,000 mark once again. CCN reported yesterday that despite a $5 billion rebound in the crypto market, low…

UK Financial Regulator Warns Investors About ‘Clone Firm’

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The U.K. Financial Conduct Authority (FCA) has warned investors about a so-called “clone’ company of investment firm Fair Oaks Capital Ltd., in a statement published Aug. 7. Clone firms are companies that carry out business activities under the pretense that they are a firm registered by the FCA. Almost all legal entities involved in financial services in the U.K. must be authorized or registered by the FCA. In the statement, the FCA outlines a fraudulent company targeting people in the U.K. using registration data of firms authorized by the regulator.…

West Virginia to Offer Blockchain Voting for This Year’s Midterm Elections

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West Virginia is rolling out a blockchain based mobile voting app so American troops overseas can cast their votes in the upcoming elections, CNN reports. The state had previously used the mobile voting platform, called Voatz app, in a pilot for deployed troops and their dependents in two counties for the state’s primary elections. Secretary of State Mac Warner at the time said the plan was to extend the pilot to the state’s 55 counties for the midterms in November once the pilot was successful. According to Warner’s office, “four…

U.S. SEC Postpones Decision Regarding Bitcoin Exchange Traded Fund

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The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the listing and trading of a Bitcoin exchange-traded fund (ETF) until September 30, according to an official document released by the SEC August 7. ETFs are securities that track a basket of assets proportionately represented in the fund’s shares. They are seen by some as a potential step forward for the mass adoption of cryptocurrencies as a regulated and passive investment instrument. The fund under consideration is powered by investment firm VanEck and financial services company SolidX, and…

Another Major Investment Firm Says Bitcoin ETF Not Likely in 2018

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Canaccord, the biggest investment firm in Canada, has said that the approval of a Bitcoin exchange-traded fund (ETF) is highly unlikely in 2018. In an official report entitled “Blockchain and Digital Assets: US Equity Research” Canaccord researchers Michael Graham and Scott Suh wrote: “And although the VanEck SolidX Bitcoin Trust, seen by many as the most formidable candidate for a potential approval, is due for a potential decision as early as this month, it is largely believed that the SEC will extend its deadline, in which case a decision may…

Bitcoin Price Slips Below Crucial $6,800 Support Level

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The worst does not appear to be over for the bitcoin price, as the flagship cryptocurrency on Tuesday slipped below $6,800, a mark that many analysts had pegged as a critical support level for BTC’s short-term prospects. Bitcoin had spent the majority of the day trading above the $7,000 mark. However, as CCN reported, the market has been plagued by low volume in recent days, which is often an indication of a short-term bearish trend. At 19:30 UTC, the bitcoin price took a major downward pivot, falling from $7,100 to…

Omniex Appoints Former SEC and FDIC Execs to Board of Advisors

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Institution-oriented crypto trading platform Omniex has expanded its staff with high profile experts, including former execs of major U.S. financial regulators, according to a press release Aug. 7. Omniex has appointed former U.S. Securities and Exchange Commission (SEC) chairman Arthur Levitt and Federal Deposit Insurance Corp (FDIC) chair Sheila Bair as members of the board of advisors. The cryptocurrency trading firm also announced that Maartje Bus, former head of capital markets at Thomson Reuters, has joined Omniex as director of strategic partnerships, while Tom Eidt, former head of KCG’s regulatory…

Crypto Daily News | Barclays Denies Cryptocurrency Projects & BTC ATMs

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In today’s edition of Crypto Daily News, we’ll cover Barclays’ denial of any form of cryptocurrency projects, the number of Bitcoin (BTC) ATMs currently distributed around the world, and Ethereum Classic’s status on Coinbase Pro. Crypto Daily News: August 7th, 2018 Barclays’ Crypto Denial Large UK-based bank Barclays has just denied that it is working on any cryptocurrency products. Business Insider reported yesterday that two of its employees via LinkedIn have listed crypto-related duties on their profiles. Both Matthieu Jobbe Duval and Chris Tyrer have digital assets in their titles…