Day: July 22, 2019

Ethereum Price (ETH) Turns Bearish Below $220, Bitcoin Breaks $10.5K

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ETH price failed to continue higher above the $230 and $240 resistance levels against the US Dollar. The price started a fresh decrease and broke the key $220 and $218 support levels. Yesterday’s highlighted breakout pattern was breached with support near $222 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now trading below the $220 support and it might decline further towards the $207 support. Ethereum price is struggling to gain bullish momentum versus the US Dollar and bitcoin. ETH price remains at a risk…

Bitfinex Claims ‘New York’ Customers Cited by NYAG Are Foreign Entities

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Arguments that Bitfinex and Tether served New York residents through 2018 are misleading, new legal filings by the companies claim. A new affirmation by Bitfinex and Tether general counsel Stuart Hoegner says a previous filing by the New York Attorney General’s office claiming that Empire State residents used the companies’ platforms for far longer than previously stated “contain a number of inaccurate and misleading assertions.” According to Hoegner, some documents presented as evidence by the NYAG which appear to outline how New York residents could trade on Bitfinex “make clear that…

Tron’s Justin Sun Postpones Lunch With Warren Buffet

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Justin Sun’s hotly-anticipated lunch with billionaire investor Warren Buffett has been postponed, the Tron Foundation announced Monday. Sun has fallen ill with kidney stones, the foundation said on Twitter. The parties have “agreed to reschedule at a later date.” The lunch, scheduled for July 25, was the prize for winning a charity auction. Sun bid $4.6 million earlier this year and seemingly intended to introduce the notoriously crypto-skeptical Buffett to a number of influential figures in the space. As of Monday, Sun had lined up Circle’s Jeremy Allaire, Huobi’s Chris…

Bakkt Begins Testing Bitcoin Futures Platform Following Hype and Delays

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Bakkt, the long-awaited Bitcoin (BTC) futures platform from the Intercontinental Exchange (ICE), has begun testing the delivery of BTC futures, according to an official tweet on July 22. Per the tweet, user acceptance testing for Bitcoin daily and monthly futures began today with participants from around the world. The platform initially announced the launch of futures testing in June, when Bakkt COO Adam White stated, “On July 22, two days after Apollo 11’s 50th anniversary, Bakkt will initiate user acceptance testing for its Bitcoin futures listed and traded at ICE…

Swedish Crypto Exchange QuickBit Announces User Data Breach

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Database issues at the Swedish digital currency exchange QuickBit resulted in a breach of sensitive user data, according to an official announcement published on July 22. In the announcement, QuickBit revealed that personal data such as names, addresses, email addresses and card information of 2% of its customers was exposed. QuickBit said that no passwords or social security numbers, complete account or credit card information, cryptocurrency or private keys, or financial transactions were exposed or affected. QuickBit initially published its suspicions about the data incident on July 19, stating that…

How Will the Crypto Markets Perform in Coming Years?

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The crypto markets roared back to life at the beginning of 2019 after having a poor year previously, but many concerns remain despite the impressive show in the first half of the year so far. In an interview, the Managing Director of the advisory firm PFYN Advisory, Patrick Franz, spoke broadly about the range of changes that could eventually propel the crypto space even further in the years to come. PFYN wishes to eventually harness a crypto markets ecosystem in which traders from all over the world can buy and…

Bitcoin (BTC) Bulls Unconvincing, Over $1 Billion Lost To Hackers

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Bitcoin (BTC) prices are steady Over $1 billion lost to hackers Hacking is forcing thoroughness in cryptocurrency exchanges. Determined hackers have seen exchanges lose over $1 billion with Bitpoint the latest victim. At the time of writing, BTC is stable, but bears have the upper hand. Bitcoin Price Analysis Fundamentals There is always a risk when trading. Unlike trading traditional securities like bonds or Forex, the cryptocurrency space is unregulated. That is perhaps the reason why government representatives are drumming up for proper regulation. Furthermore, Bitcoin and digital assets are…

Monero (XMR) Capped at $100 Despite Szabo’s Advocacy

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Monero (XMR) steady in the last 24 hours Nick Szabo is advocating Monero Privacy is the future, and Monero is well-positioned. Despite their reliance on developers, Monero as a network is resilient, rebuffing miner centralization attempts. Thus far, like most coins, XMR is vulnerable. Even so, it is trading within a bullish breakout pattern against the USD. Monero Price Analysis Fundamentals The future is, indeed, private. Affirming this is a conscious campaign by citizens against behemoths keen on collecting and processing personal data for their benefit. Social media giant Facebook…

Ripple (XRP) Expansion, Up 4% After Bitso’s Licensing and BoA Citation

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Ripple (XRP) adds 4.3 percent The Mexican exchange, Bitso, has a license from Gibraltar Financial Services Commission (GFSC) Bitso is the first exchange from Latin America to comply with the Gibraltar Financial Services Commission (GFSC) regulations. While at it, the citation of Ripple in a patent by Bank of America is bullish for XRP. At the time of writing, it is up 4.3 percent from last week’s close. Ripple Price Analysis Fundamentals The debate on whether or not Bitcoin is a tool for money laundering and funding terrorism is dominating…