Day: July 3, 2019

Ethereum (ETH) Price Primed For More Gains, Bitcoin Up 6%

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ETH price made a few attempts to settle above the $300 resistance area against the US Dollar. It is currently consolidating near $300 and it might rise above $305 and $306 in the near term. There is a new connecting bullish trend line forming with support near $297 on the hourly chart of ETH/USD (data feed via Kraken). If there is a downside break below $295, the price could revisit the $285 support area. Ethereum price is showing positive signs above $295 versus the US Dollar, but struggling vs bitcoin.…

Bitcoin Price Surges Toward $11,500 as Trump Eyes USD Manipulation

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Don’t look now, but the bitcoin price is already surging back from its early July lows to trade comfortably above $11,000. And one fundamental catalyst might have come from an unlikely ally: US President Donald Trump. Trump: Let’s Join the ‘Big Currency Manipulation Game’ Earlier on Wednesday, Trump accused China and Europe of playing a “big currency manipulation game,” debasing the yuan and euro by pumping large amounts of cash into the market to make their exports more attractive. But then the president went a step further, calling for the…

Blockchain Firm AmaZix is Tackling Crypto Scams on Telegram

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When something becomes popular, illegal activity tends to follow. The cryptocurrency market knows this all too well, which is why AmaZix this week opened up its “moderation bot” so crypto scams can be booted from Telegram, a popular messaging app. Here’s what we know. Telegram Crypto Scams On Wednesday, AmaZix, a blockchain advisory firm, said it was opening up access to its “moderation bot,” in an attempt to boot the crypto scams that have found their way to the Telegram app. For the past two years, AmaZix has used the…

FCA’s Ban on Crypto Financial Instruments Affects UK Retailers

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Earlier today, the UK’s market regulator, the Financial Conduct Authority (FCA), announced a proposal that would ban financial instruments linked to digital cryptocurrencies. The regulator has warned that such instruments using cryptocurrencies could incur huge losses for retailers who don’t understand the great risks associated with using them. The FCA’s Ban Proposal The FCA is targeting products such as derivatives and exchange-traded notes (ETNs), in particular, but it is also suggested that crypto-assets themselves simply didn’t suit small investors. It cited cryptocurrencies’ “extreme volatility,” ambiguous value, and the lack of public knowledge…

Bitcoin (BTC) Price Rally And Recent Influx of USD Directly Correlate

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Bitcoin (BTC) adds 8.1 percent USDT minting correlates with USD expansion says, Jesse Powell Kraken CEO, Jesse Powell, is confident that there is no link between BTC prices and USDT minting. At the time of press, BTC is up 8.1 percent in the last day. Bitcoin Price Analysis Fundamentals Differentiating between “true demand” and speculation is hard. Critics are adamant that crypto assets are speculative and highly volatile. Although Bitcoin can be a perfect hedge against faltering traditional asset and increasingly embraced by fund managers, rapid price changes present a…

Tron (TRX) May Flourish In July Thanks To BitTorrent Developments

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Tron (TRX) flat-lining, stable at 3.1 cents BitTorrent Speed launching on July 8. Tron’s dApp ecosystem is growing, reaching 500, which is a milestone. Meanwhile, the BitTorrent test net is live, and the launching of BitTorrent Speed is significant for Tron and BTT owners. Tron Price Analysis Fundamentals Boasting of superior throughput and scalability, Justin Sun is not afraid to brag about Tron achievements. Notwithstanding possible damage to his reputation, he continues to execute an aggressive marketing strategy. From making announcements encouraging front running to securing a $4.6 million lunch…

$515 Million in Bitcoin Spent on Illicit Activity This Year

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Recent research by Chainanalysis suggests that the amount of bitcoin (BTC) spent on illegal transactions this year could hit a record high of $1 billion, even as the ratio of illegal to legal transactions is shrinking, according to a report by Bloomberg on July 1. As per the report, the total flat value of BTC spent on illegal activity so far this year is thought to be $515 million. The research suggests that by the end of the year, this figure will double to reach $1 billion. However, the amount…

Advocacy Groups Call on Congress to Stop Libra Development Until July Hearings

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Over 30 advocacy groups have appeared as signatories on a request that Congress and regulators implement an official moratorium on Libra development, as per the letter published on July 2. The letter was also addressed to Facebook, with Mark Zuckerberg himself cc’d, and asked that the social media giant wait until Congress and regulators have scrutinized a detailed presentation of the proposed stablecoin-esque virtual currency. The letter includes a number of questions that the signatories say need answers before Libra can proceed, including the following: “The plan for Libra makes…

Bitcoin Price ‘Extremely Bullish’ Again After 20% Pump to Over $11,000

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Bitcoin (BTC) surprised markets and and the media alike on July 3, jumping over 20% in 24 hours to overcome resistance at $11,000. Market visualization courtesy of Coin360 Data from Coin360 put BTC/USD firmly in the green Wednesday, following a turbulent few days which saw the pair drop as low as $9,688. As of press time, bitcoin traded around $11,300 having set a local high of $11,525 earlier in the day.  Bitcoin 7-day price chart. Source: Coin360 The sudden reversal immediately rubbished the theories emerging in the mainstream press and…