Ethereum Price Analysis: ETH Holding Key Support, Could Bounce Soon

Key Highlights ETH price corrected lower recently and traded below the $150 support against the US Dollar. There is a major bullish trend line formed with support at $145 on the hourly chart of ETH/USD (data feed via Kraken). The pair seems to be preparing for an upward move above $152 and $156 in the near term. Ethereum price is holding key supports against the US Dollar and bitcoin. ETH/USD is likely to bounce back above $155 as long as it is above $140. Ethereum Price Analysis Yesterday, ETH price…

Overstock Will Pay Some of Its 2019 Taxes in Bitcoin

Digital retail giant Overstock.com plans to pay at least some of its taxes using bitcoin this year. The company announced on its investor portal Thursday that it would pay some of its state commercial activity taxes in Ohio using bitcoin, becoming the first major business to do so. Ohio announced last year that it would allow businesses to pay taxes in bitcoin, though the payments would be converted into dollars by a third party before the state accepted them. In a statement, Overstock CEO and founder Patrick Byrne said the…

Proof of Keys Explained: Bitcoin’s First Planned ‘Bank Run’ Is Today

Do your bitcoins really exist? The answer might seem like an obvious “yes,” but the brewing “Proof of Keys” movement, launching today, argues the answer is not so clear. How in control a person is of their coins depends on where and how the bitcoin is stored. So participants will be taking their money out of third-party bitcoin services, moving it to accounts only they themselves control. “We’re going to withdraw all our bitcoin from any third party services just to prove that they’re there,” said Trace Mayer, Proof of…

The Map Is Not the Territory: Rethinking Crypto as an Asset Class

Sid Kalla, CFA and Bradley Miles are co-founders of Roll, an open standard for social money on the ethereum blockchain. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review.  Over long time periods, bitcoin’s returns have been uncorrelated to the stock, bond or commodity markets. Even though bitcoin has been highly volatile, adding a small amount of bitcoin to a portfolio of stocks and bonds can actually improve its risk-adjusted returns (improve the Sharpe ratio). The drivers of bitcoin’s returns are very different from those of the other…

Circle Executed $24 Billion in OTC Trades in 2018

The over-the-counter (OTC) trading desk at cryptocurrency finance firm Circle had a notional volume of $24 billion in 2018, according to an official Medium blog post on Jan. 3.   Per the statement, Circle executed 10,000 OTC trades with 600 different counterparties, at $24 billion in volume. As such, the company claims to have become a “core liquidity provider to the entire crypto ecosystem.” According to Circle, the firm now partners with over 1,000 institutional clients such as exchanges, token projects, OTC desks, asset managers, and other global endowments. Circle…

Anti-monopoly Court Rules to Keep Crypto Exchanges’ Bank Accounts Open

The Chilean anti-monopoly court has again granted protection to local cryptocurrency exchanges by forcing banks to keep their accounts open, financial news outlet Diario Financiero reported Jan. 2. According to a recent statement from Buda.com — one of the crypto exchanges affected by previously upheld banking restrictions — the anit-monopoly court known as the Tribunal de Defensa de la Libre Competencia (TDLC) has held a poll, and most of its members voted in favor of the crypto firms. The next few hearings are scheduled for February, when the TDLC will…

Irish Gov’t Approves Anti-Money Laundering Bill Affecting Cryptocurrency

The Cabinet, the executive organ of the government of Ireland, has approved a bill that would give effect to the European Union (EU) Fifth Anti-Money Laundering (AML) Directive, the Irish Times reported Jan. 3. The directive — which came into force on July 9, 2018 — sets a new legal framework for European financial watchdogs to regulate digital currencies in order to protect against money laundering and terrorism financing. Specifically, the directive will extend the scope to crypto platforms and wallet providers, end the anonymity of bank and savings accounts,…

Bitcoin ATM Producer Moves to Switzerland Due to Regulatory Difficulties

Bitcoin (BTC) automated teller machine (ATM) manufacturer Lamassu has moved to Switzerland due to regulatory difficulties in other countries, according to a blog post published Jan. 1. Lamassu — now called Lamassu Industries AG — has moved to the Swiss canton of Lucerne, because the firm wants “to be in a place where rules are well defined and regulators are pro-innovation.” Lamassu revealed in the post that its applications to open an account were rejected by 15 banks because it produces terminals for Bitcoin, while not taking part in trading…

Bitcoin Price Analysis: Range-Bound Market Coiled for Next Move

For the better part of a month and a half, bitcoin has been fairly range-bound and unable to establish new lows or new highs. There are some bullish and bearish setups on the horizon for bitcoin, so let’s check out both sides of the argument because currently the market is sitting in the middle of Indecisionville — the most immediate sign of which is this glaringly obvious head-and-shoulders bottom reversal pattern: Figure 1: BTC-USD, Daily Candles, Head-and-Shoulders Bottom This current pattern is nothing more than a setup at the moment,…

BitTorrent Launches Native TRON-Based Token

Peer-to-peer torrent client BitTorrent has launched a native token, BitTorrent (BTT), based on the TRON protocol, according to a press release shared with Cointelegraph Jan. 3. The token can be exchanged between users to optimize their network speed and attain faster downloads, according to the press release. BitTorrent’s first full-fledged move to begin to tokenize its content sharing ecosystem — which reportedly serves over 100 million users — comes around six months after the company was acquired by decentralized internet startup TRON for an undisclosed amount. BTT tokens, which are…