Day: August 15, 2018

Bitcoin (BTC) Price Watch: Trend Line Break and Correction

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Bitcoin Price Key Highlights Bitcoin price recently broke above a short-term descending trend line as an early reversal signal. Price reached the $6,650 level then made a pullback to the broken resistance, which lines up with the Fibs. Technical indicators also suggest a continuation of the reversal. Bitcoin price broke above its descending trend line and is making a retest of this area before heading further north. Technical Indicators Signals The 100 SMA is still below the longer-term 200 SMA to indicate that the path of least resistance is to…

Coinbase to Pursue Decentralized Form of Identification Following Acquisition

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Cryptocurrency exchange and wallet service Coinbase has acquired San Francisco-based startup Distributed Systems Inc., which works on decentralized identity solutions, according to an August 15 announcement. In the blog post, B Byrne, project manager for Identity at Coinbase, said Distributed Systems will help the exchange work on new ways to validate and verify identity within its plans to develop an open financial system. The blog post says: “Blockchain technology that powers cryptocurrencies offers a new way to let us all be “verified” everywhere we go on the internet, feeling safer about…

Ripple Considering Chinese Market to Speed Up Payment Solutions

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Ripple is considering breaking into the Chinese market to apply its distributed ledger technology (DLT) to cross-border payments, a Ripple executive told CNBC August 15. Jeremy Light, vice president of European Union strategic accounts at Ripple, said in a phone interview that the company is looking to enter the Chinese market to speed up international payments with its DLT. Light said that “China is definitely a country and region of interest.” While blockchain is the technology that underpins cryptocurrencies, Ripple’s blockchain was initially designed to accelerate payments processing, which subsequently…

Coinbase Signed Up 50,000 Users per Day in 2017

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Cryptocurrency exchange Coinbase CEO Brian Armstrong said in an August 14 interview with Bloomberg that it was signing up 50,000 users per day in 2017. Speaking at the Bloomberg Players Technology Summit in San Francisco on Tuesday, Armstrong said that the “technology [Bitcoin] is going through a series of bubbles and corrections, and each time it does that, it’s at a new plateau.” He added that “people’s expectations are all over the map, but real-world adoption has been going up,” stating that he sees “real world adoption pretty steadily increasing…

Cryptocurrency Markets Maintain Momentum Despite Slight Retracement

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The cryptocurrency markets continued their positive momentum on Wednesday evening as most of the coins held on to the double-digit gains achieved over the past 24 hours. Most importantly, altcoins acted independently of the bitcoin price, with several performing significantly better than the largest cryptocurrency by market cap. As of press time on Wednesday, BTC was trading at around $6,350, having briefly even crossed $6,600 during the day before falling back. Ethereum roared back to the $300 mark, as noted earlier, although it had gone down slightly to the $286…

If Bitcoin is Rat Poison, the Banks Are the Rats: Pantera Capital CEO

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Pantera Capital officials continue to maintain an upbeat outlook for cryptocurrency amidst the current market downturn. In an ICO and digital asset funds conference call Tuesday, CEO and chief investment officer Dan Morehead said blockchains are the next step in the evolution of equity, while cryptocurrency is a superior form of currency. He called bitcoin the biggest disruption of this generation. Morehead has been a perpetual crypto optimist, having stated that the cryptocurrency market cap could one day be worth $40 trillion. In April, Pantera prematurely said that the market…

Over $2 Million Lost to Crypto Scams in Second Quarter of 2018

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A recent report from Russia-based antivirus and cybersecurity firm Kaspersky Labs states that in the second quarter of 2018, cybercriminals stole over $2.3 million dollars via crypto scams. The report, entitled “Spam and phishing in Q2 2018,” notes so-called “crypto giveaways” as a pervasive example of phishing, wherein cybercriminals dupe individuals into giving up sensitive information as part of a too-good-to-be-true promotion giving away popular cryptocurrencies. In these crypto phishing scams, unsuspecting individuals are fooled into voluntarily giving up important information on convincing but malicious copies of popular crypto wallets…

Y Combinator Reveals Ex-Baidu Blockchain Bull Qi Lu as CEO of New China Division

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The Ex-COO of ‘Chinese Google’ Baidu and blockchain bull Qi Lu has joined Y Combinator (YC) to run the company’s new China-based division, according to a blog post August 14.   Y Combinator –– the major Silicon Valley-based entrepreneurial accelerator that funded such startups as Dropbox, Airbnb, Coinbase, Reddit, among others –– announced that is has officially entered the Chinese market, launching a new division of the company there. The company also announced that the new division will be launched and run by ex-Baidu exec Qi. In the announcement, YC president…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, August 15

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. Panic has set in the cryptocurrency markets as investors dump their holdings at every opportune moment, fearing even larger losses. Usually, such selling sprees end with a bottom formation. The current sentiment in the crypto space is exactly the opposite to what it…

Bank of Montreal, Teachers’ Pension Fund Trial Canadian Dollar Debt Deal via Blockchain

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The Bank of Montreal and Ontario Teachers’ Pension Plan have tested a Canadian-dollar debt deal using blockchain, Bloomberg reports August 15. In the pilot transaction, the bank is said to have sold $250 million Canadian dollars (around $190 million) of one-year floating rate deposit notes to the teachers’ pension fund, implementing blockchain tech to mirror the transaction. This is reportedly the first use of the technology for a Canadian dollar “fixed-income issue.” Bloomberg notes that the Bank of Montreal’s BMO Capital Markets unit has built a prototype blockchain-based settlement system,…