Ethereum Price Analysis: ETH Remains Buy On Dips, 100 SMA Holds Key

ETH price started a downside correction after testing the $149-150 resistance area against the US Dollar. There was a break below a key bullish trend line with support at $146 on the hourly chart of ETH/USD (data feed via Kraken). There was an increase in selling pressure and the price tested the $139-140 support area. A few important supports are in place near the $141, $140 and $136 levels. Ethereum price started a short term correction against the US Dollar and bitcoin. ETH/USD must stay above $136 and the 100…

Bitcoin Has ‘Quite Brilliant’ Structure, Paper Money is Going Away

Technology entrepreneur and Tesla CEO Elon Musk said that Bitcoin’s (BTC) structure is “quite brilliant” and that digital currency is “a far better way to transfer value than pieces of paper.” Musk made his remarks during an interview on advisory services firm ARK Invest’s podcast on Feb. 19. In response to a question about whether Bitcoin becomes the only native cryptocurrency of the Internet, Musk said that “the Bitcoin structure was quite brilliant,” and that he thinks that “one of the downsides of crypto is that computationally it is quite…

Canadian Judge Appoints Legal Representatives for QuadrigaCX Customers

The Supreme Court of Nova Scotia has ordered Canadian law firms Miller Thomson and Cox & Palmer to represent customers of cryptocurrency exchange QuadrigaCX in upcoming proceedings. The ruling was announced in a court filing published on Feb. 19. On Tuesday, Justice Michael Wood rendered a decision that Miller Thomson and Cox & Palmer will act as lead counsel to represent the representative committee of users of Canada’s major cryptocurrency exchange Quadriga. Specifically, the representative counsel will be responsible for “managing communications with users; acting as user liaison for the…

New Survey Indicates Businesses Unprepared to Deploy Blockchain Technology

A new study has revealed that, while businesses are considering blockchain adoption, overall they do not feel ready to implement the technology. The survey was conducted by software development firm Globant and published on Feb. 19. The report says that 64 percent of organizations are intent on investing in blockchain solutions to improve their internal operations, while only 46 percent of respondents feel ready to deploy the technology. Out of 61 percent of organizations that are already researching blockchain, only 28 percent have chosen a blockchain provider. According to the…

Cryptocurrency Bull Run | An Improving Economy Encourages Gains

A cryptocurrency bull run has taken hold of the entire crypto market. Digital coins have been rallying back (and then some) in recent days. The gains continue today as, according to CoinMarketCap, all the top 20 coins stay in the green. Cryptocurrency Bull Run At the time of writing, Bitcoin—the largest coin by market cap—is valued at $3,982, up 1.8% on the day. Today’s gains continue a bull run that has seen Bitcoin pack on roughly 9% in the last seven days. Now, BTC looks set to test the new price…

Crypto Expert Warns Not to Trust the Bitcoin Rally

The bitcoin price has not bottomed yet, but it’s close — and the sooner it tanks, the better. That’s the assertion of Alex Sunnarborg, a founding partner of New York crypto hedge fund Tetras Capital. “Calling [the bitcoin bottom] is very difficult,” Sunnarborg told Forbes. “That’s part of the reason I’m really thankful that we’re in the position we are right now. “We can hedge ourselves, remain more neutral, and not have to call that exact price or timing bottom. I’m not confident right now. Our portfolio is relatively neutral. We…

Half of Millennial Investors Trust Crypto Exchanges More Than Stock Exchanges

Nearly half of millennial traders have more trust in digital currency exchanges than in United States (U.S.) stock market exchanges. Data regarding millennial investment attitudes was collected in a new study from investment platform eToro and published on Feb. 19. Per the report, 43 percent of the surveyed millenial online traders demonstrate less trust in the traditional stock market, while having more faith in cryptocurrency exchanges. 93 percent of millennial cryptocurrency traders reportedly said that they would invest more in digital currency if traditional financial institutions proposed such an option.…

Countdown Restarts Tomorrow for SEC Decision on CBOE-VanEck Bitcoin ETF

The U.S. Securities and Exchange Commission (SEC) may make an initial decision on not one, but two different bitcoin exchange-traded fund (ETFs) proposals by April 5. A bitcoin ETF proposal submitted (for a second time) by VanEck, SolidX and the Cboe BZX Exchange is expected to be formally published in the Federal Register Wednesday, kicking off the initial 45-day clock for approval, rejection or extension. The proposal was first posted on the SEC’s website on Feb. 13. Once the proposal is officially published, the general public will have three weeks from…

Crypto Financial Services Firm to Offer Crypto Insurance Through Lloyd’s of London

Blockchain security firm and crypto wallet service BitGo has revealed plans to offer crypto insurance through Lloyd’s of London, according to a press release on Feb. 19. BitGo Business Wallet clients will be able to acquire insurance for their digital assets held on BitGo’s Business Wallet service and Custodial offering Assets held by either BitGo or BitGo Trust Company can insured for up to $100 million by global insurance and reinsurance market Lloyd’s, the release says. Lloyd’s had nearly $43.8 billion in gross written premiums in 2017, and has insured…