Month: November 2018

Capitulation? Bitcoin’s Price Dropped 36% in November

TradingBTC

Bitcoin (BTC) tanked in November on the back of high volumes, raising the possibility that the market has, to some extent, capitulated. The largest cryptocurrency by market capitalization is currently trading at $4,000 – down 36 percent from its monthly opening price of $6,318 – according to CoinMarketCap data. That drop marks the biggest monthly loss of the year so far. Amid the losses, trading volumes jumped by 33 percent month-on-month to $158.48 billion – the highest level since May. It is worth noting that, at the start of the…

Crypto Startup Uses Surveys to Build Exchange Based on ‘Emotions and Thoughts’ of Traders

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A new crypto exchange says it offers “bells and whistles” compared with rivals – and argues that most of the market leaders are failing to provide investors with the technical analysis tools they need to make informed decisions. In a break away from confusing user interfaces, Encrybit wants to help traders that it says have been pushed to use third-party software because exchanges have let them down. It claims many crypto enthusiasts have no choice but navigate between multiple exchanges – remembering seemingly endless passwords and withdrawals fee in order…

Microsoft Japan Partners With Startup to Increase Domestic Blockchain Uptake

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The Japanese arm of computer giant Microsoft has partnered with nascent blockchain startup LayerX to “accelerate” uptake of the technology, Cointelegraph Japan reported Nov. 30. LayerX, which formed in August as a joint venture from news curation app Gunosy and advisory service AnyPay, oversees blockchain integration for enterprise, including areas such as smart contracts and general consulting. Using Microsoft’s Azure Blockchain-as-a-Service (BaaS) solution, the companies will seek to promote the technology further in the domestic economy. “We will support the introduction process in its entirety, even down to technical support…

Russian Economic Minister Says BTC Is ‘Soap Bubble’ But Lauds Crypto’s Influence on Tech

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The Minister of Economic Development of Russia referred to Bitcoin (BTC) as a “soap bubble” that has has led to investors’ losses, Russian informational agency RBK reported Nov. 28. Minister Maksim Oreshkin, speaking in an interview with RBK, noted how the the cost of Bitcoin (BTC) has decreased dramatically, referencing the coin’s rise to $20,000 in December 2017: “When Bitcoin’s price jumped up to $20,000, and now it is lower than $4,000, we said very simple things: Bitcoin itself is a soap bubble, it deflated, that’s what happened” However, Oreshkin…

Cardano Price Analysis: ADA/USD Could Climb Above $0.045

TradingBTC

Key Highlights ADA price started a decent recovery after forming a support at $0.0350 against the US Dollar (tethered). There is a short term bullish trend line formed with support at $0.0410 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is likely to climb further higher and it may even break $0.0450 in the near term. Cardano price recovered recently against the US Dollar and Bitcoin. ADA/USD may accelerate gains above the $0.0440 and $0.0450 resistance levels. Cardano Price Analysis After forming a support…

Bitcoin Price Watch: BTC/USD Could Extend Correction Below $4,100

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Key Points Bitcoin price struggled to break the $4,400-4,440 resistance and declined against the US Dollar. There was a break below yesterday’s bullish trend line with support at $4,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently at a risk of more losses below the $4,100 and $4,080 support levels. Bitcoin price formed a short term top near the $4,440 level and declined against the US Dollar. BTC/USD is likely to correct lower towards the $4,000 support in the near term. Bitcoin…

UBS Executive Paul Donovan Blasts Bitcoin Again, States Cryptos Are ‘Fatally Flawed’

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Swiss bank UBS’ Wealth Management Global Chief Economist and infamous Bitcoin skeptic Paul Donovan doubled down on his distrust of cryptocurrency Nov. 29, calling it “fundamentally flawed.” Speaking to CNBC’s Fast Money segment, Donovan, who earlier this week released an internal blog post titled “I come to bury Bitcoin, not to praise it,” repeated his criticism of the innovative financial instrument. “I think anyone with a high school education in economics has been a Bitcoin skeptic right from the start,” he told the network, adding: “These things were never going…

Bears in Control ahead of Cardano 1.4 Update

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Latest Cardano News The good thing about Cardano is their regular update which in turn gives a clear picture on the development progress of Byron and Shelly. Days after Michael Person resigned and Paul Schmid given the task of leading the foundation and promoting their peer-reviewed platform and technology, ADA prices have been on a free fall—sinking to new 2018 levels. Read: Cryptocurrency Prices Hold Steady, Could Be More Losses Ahead Nevertheless, floors are now visible thanks to a wave of bull pressure that swept the market across on Nov…

BP And Shell’s Blockchain-Based Oil Trading Platform Goes Live

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Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. A blockchain-based trading platform that could assist oil majors and trading firms to drastically reduce costs is now operational. Known as Vakt, the platform which was created last year by a consortium consisting of Anglo-Dutch oil giant Shell and British Petroleum (BP), went live on Wednesday, according to Reuters. Other members of the consortium include global commodity trading firm Gunvor Group, Norwegian energy firm Equinor and energy…

Price Stall at $4,300 as The US OFAC “sanction” Bitcoin Addresses

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Latest Bitcoin News In a laughable move, the United States Treasury Department Office of Foreign Assets Control has issued “sanctions” against two Bitcoin addresses–149w62rY42aZBox8fGcmqNsXUzSStKeq8C and 1AjZPMsnmpdK2Rv9KQNfMurTXinscVro9V—belong to two Iranians–Ali Khorashadizadeh and Mohammad Ghorbaniyan, accused on assisting hackers launder their Bitcoin proceeds. The Bitcoins obtained from victims of a SamSam ransomware scheme were converted to Iranian Rial. With the ban, the OFAC said that users from the US who send any amount of BTCs to the said address will be liable to secondary sanctions. Furthermore, they are calling for individuals within compliance and…