Month: October 2018

Bitcoin Cash Could Disintegrate ahead of Nov 15 Hard Fork

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Roger Ver’s Bitcoin Cash is at a precipice. It could fall apart if there is no consensus draining with it millions in investment and propelling Bitcoin higher. The standoff between Craig Wright of Bitcoin SV and Jihan Wu’s Bitcoin Cash ABC could be damaging. Since price relies on the outcome, traders should remain neutral ahead of the upgrade knowing that breaks below $400 could usher a wave of unrelenting bears eyeing $250. Latest Bitcoin Cash News So far, the US Federal Reserve is on an interest rates spiking spree and…

Bitcoin Bear Market Could Last 18 More Months: BitMEX CEO

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Twitter Facebook Bitcoin prices and trading volume might keep plummeting, and the current bear market could last another 18 months. That’s the sobering assessment of Arthur Hayes, the CEO of the Bitcoin Mercantile Exchange (BitMEX), the world’s largest bitcoin derivatives trading platform. “My view is the volatility environment that exists right now could persist for another 12 to 18 months, the flatness,” Hayes told Yahoo Finance. “I’m just basing it off my previous experience.” Hayes started trading crypto full-time in 2013 after losing his job as an equities trader at Citibank.…

IOT/USD, EOS/USD, XLM/USD, TRX/USD, LTC/USD Register Mild Gains

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Overly, most coins are in range mode with the exception of LTC/USD and TRX/USD which are bearish. This is after unexpected losses below $50 and 2.3 cents on Oct 29 igniting sellers. But still, EOS/USD and XLM/USD are holding on with minor losses. All things constant, we shall retain a neutral approach waiting for moves below or above important levels before initiating trades. Let’s have a look at these charts: EOS/USD Price Analysis Countering Oct 29 losses, EOS/USD did print respectable volumes yesterday. However, this is not a call for…

‘Big Four’ Firm EY Builds DLT Product on Public Ethereum Blockchain

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Twitter Facebook The big four accounting firms are pouring more resources into blockchain technology now more than ever, and now Ernst & Young (EY) has just deepened its commitment. The global professional services firm has unveiled a Public Edition (PE) prototype of its EY Ops Chain, using the public Ethereum blockchain to deliver what the company describes as the “world’s first implementation of zero-knowledge proof (ZKP) technology.” The technology offers the best of both worlds, giving businesses the opportunity to securely issue and sell ICO-like tokens tied to payments or…

Tether’s Price Has Stabilized, But the Stablecoin’s Supply Is Still Shrinking

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In what’s become a rarity over the past month, the price of the tether (USDT) stablecoin temporarily regained parity with the U.S. dollar Wednesday. The token traded in the $1.00-$1.01 range for the better part of an hour, according to CoinMarketCap. At the time of writing, it is trading around $0.987. The exchange rate has been steadily climbing towards its $1.00 target since the stablecoin – by far the most popular among a slew of rivals – dramatically lost parity with the dollar in mid-October, falling as low as $0.85…

Tether’s Market Cap Has Dropped by More than $1 Billion in October

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Twitter Facebook Tether (USDT), the embattled cryptocurrency token whose value is purportedly backed by US dollars, continues to see massive outflows as it struggles to maintain USD parity amid rising competition from other stablecoins launched by some of the crypto industry’s biggest names. Blockchain data from Omni Explorer shows that yesterday, on Oct. 30, Tether Limited redeemed another 100 million units of USDT, reducing the outstanding supply to about 1.8 billion. Source: Omni Explorer Since the beginning of October, Tether has redeemed a staggering 990 million tokens, more than double…

Bitcoin Bull Tom Lee ‘Pleasantly Surprised’ by Drop in Crypto Volatility

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Twitter Facebook Over the past several weeks, the bitcoin price has been uncharacteristically stable, even as equities have lost their footing and the global stock market has flirted with corrective territory. Tom Lee, the founder of Fundstrat Global Advisors and one of Wall Street’s most well-known bitcoin bulls, said that he was pleasantly surprised by the drop in crypto volatility, particularly when juxtaposed with the stock market’s recent swings. He told CNBC: “It’s surprising given how small bitcoin is in terms of market cap. The total crypto market cap is…

Coinbase’s Head of Trading Resigns After Six Months on Job

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The head of trading at Coinbase, Hunter Merghart, has resigned from the U.S. crypto exchange and wallet provider after just six months on the job, CoinDesk has learned. Merghart made the decision to leave the company last week and is now exploring other opportunities, according to people familiar with the situation. Coinbase declined to comment on the move when reached. His departure follows that of the executive who hired him, Adam White, who left Coinbase earlier this month to become the chief operating officer of Bakkt, the new institutional crypto trading…

Bitcoin Could Hold $6,300 For Another Month Due to Low Volume

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Twitter Facebook Over the last 24 hours, Bitcoin has slightly recovered from $6,230 to $6,260, unable to breakout of the $6,300 mark. Throughout the upcoming days, if Bitcoin fails to stabilize in the $6,300 to $6,400 range, the price of BTC is at risk of dropping to the lower region of $6,000 and possibly below the $6,000 mark. Major cryptocurrencies like Ethereum (ETH), Ripple (XRP), and Bitcoin Cash (BCH) have prevented extended losses below their low price range. But, ETH still remains below $200 and BCH is still at $416,…

XRP Makes a 23% Monthly Decline, Among the Biggest in October

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Twitter Facebook Ripple’s XRP was among the best performing cryptocurrencies in September. But the bullish sentiment hasn’t sustained well this month. The XRP-to-USD pair has recorded a 24 percent monthly loss as October heads to a close, falling from 0.5831-fiat to 0.4400-fiat. The coin got sold off to the tune of over $7 billion, despite being surrounded with strong fundamentals all month long. That includes the launch of the xRapid system, new partnerships with Viamericas, Moneytenint, and National Bank of Kuwait, and the release of Ripple’s Q3 report that showed XRP sales doubled…