Bitcoin Price Dips Back Under $8K as Top Cryptos See Moderate Losses

Saturday, June 8 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) falls under the $7,900 mark. Market visualization courtesy of Coin360 Bitcoin is down nearly 3% on the day, trading around $7,870 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is down over 8%. Bitcoin 7-day price chart. Source: CoinMarketCap As Cointelegraph reported yesterday, cryptocurrency investment products and research firm CoinShares estimates that 74.1% of bitcoin mining is powered by renewable energy in…

Money Laundering and Crypto Discussion

One of the main themes to be discussed at the G-20 Financial Ministers and Central Governors Meeting this weekend has to do with money laundering and cryptocurrency. What kind of agreement would be a surprise? Even for the purpose of introducing Anti-Money Laundering (AML), should we allow our financial privacy to be compromised? Alexander Zaidelson, the CEO of Beam, shared his views with Cointelegraph. A new agreement on crypto and AML? Jiji Press, a major Japanese publication, recently reported that there will be “a new kind of agreement as to…

Polish Cryptocurrency Exchange Shuts Down Overnight, Taking Funds With It

A polish cryptocurrency exchanged called Coinroom shut down on April 2, 2019, taking multiple customer accounts worth up to $15,000. The site is currently down and there is no way to contact the founders. “We don’t know how much they took,” said one user named Maciej. “But it is definitely a lot of cash.” Polish news site Money.pl first discovered the exit scam on May 31. “Coinroom registered as a business in 2016 and a year later opened its website. Clients could deposit, buy, and sell cryptocurrencies. They could also…

If Bitcoin Hits This Key Level, It’s Going to Make a Run for $40K: Tom Lee

By CCN Markets: The bitcoin price might have slipped below $8,000 for now, but it could be headed much higher in the near future. Fundstrat Global Advisors Co-Founder Thomas Lee is willing to put it on the line for bitcoin once again, making an aggressive short-term prediction on where the cryptocurrency could be trading if it can capture enough momentum. In an interview with Binance CFO Wei Zhou, Lee laid out his bullish case. Lee and Zhou agree that once bitcoin regains the $10,000 level, it will be “fast and…

Weiss Crypto Ratings Downgrades EOS Due to Centralization Concerns

United States-based financial research firm Weiss Ratings announced that it has downgraded its rating of cryptocurrency EOS because of the blockchain’s “serious problems” with centralization. Weiss announced the report in a tweet published on June 7. In the tweet, Weiss Ratings claims that the cryptocurrency in question has severe centralization issues and that “their event last week did anything to alleviate that,” evidently referring to an event hosted by EOS developer, Block.one on June 1. Weiss decided to lower EOS’ technology score, given the development. The tweet also hinted that…

Life of Luxury: Fashion Turns to Blockchain

Although once confined largely to agriculture, blockchain technology is now making major inroads into the luxury goods supply chain market. Thus, Consensys recently announced a new platform with French multinational luxury goods conglomerate LMVH and the technology behemoth Microsoft to verify the authenticity of luxury goods. Luxury brands trial blockchain Although many products in the luxury goods market are renowned status symbols found in expensive city center stores the world over, the components of their products can originate in the most far-flung corners of the globe. The nature of globalized…

Crypto Analytics Firm Coin Metrics Acquires Bletchley Indexes

Cryptocurrency analytics company Coin Metrics announced that it has acquired digital asset index firm Bletchley Indexes and plans to launch crypto smart beta indexes. The announcement was made in a blog post published on June 7. Per the announcement, the acquired company will be rebranded to Coin Metrics Bletchley Indexes (CMBI). The newly acquired firm — following the relaunch — “will leverage Coin Metrics’ on-chain and market data expertise to expand the family of indexes to include such smart beta indexes based on key network metrics.” Furthermore, all of Bletchley’s…

Is It A Case Of Murphy’s Law For BTC Supporters?

Bitcoin drop 7.4 percent Reserve Bank of India could get a boost with the latest draft bill proposing more stringent measures against crypto investors and developers. Yesterday’s FUD that India’s legislators are proposing a ban of cryptocurrency mining, trading or holding did expose RBI’s underbelly. Such punitive steps often trigger rebellion in a Streisand effect, popularizing Bitcoin and cryptocurrencies. All in all, BTC is down 7.4 percent from last week’s close. Bitcoin Price Analysis Fundamentals The prospect of another “private currency” surpassing government issued fiat is a nightmare for central…

XRP Down 7.5%, Prices Could Freeze Because Of Ripple’s Goals

XRP falls 7.5 percent week-to-date Ripple game plan demands stable prices Behind Ripple is a drive to change the status quo. Their goal is to dislodge SWIFT and improve livelihoods through cheaper transactions with XRP as a tool. Therefore, it means XRP must be affordable, pouring cold water on the $579 talk. At the time of writing, XRP is down 4.5 percent. Ripple Price Analysis Fundamentals It promises to be another display. An extravaganza where innovation shapes the sphere, ten years after Bitcoin became a breather. Bitcoin is, well, fair.…

Dutch Billionaire Yet Another Victim of Deceptive Crypto Ads, Sues Facebook

Earlier this week, Dutch billionaire John De Mol launched a lawsuit against Facebook over crypto ads using his image without permission. De Mol claims that consumers have lost as much as 1.7 million euros (over $1.9 million) due to the ads, and his reputation was damaged as a result. It is not the first time the California-based media giant is being sued over fake bitcoin ads — and, despite Facebook’s efforts to eliminate the problem, it seems that the issue persists. Brief introduction to Facebook’s relationship with crypto ads In…