Bitcoin Jumps 12% as China’s Xi Embraces Blockchain, Boosting Crypto Sentiment

View Bitcoin prices are rebounding from a five-month low touched earlier this week. Chinese President Xi Jinping said his country should seize opportunities afforded by blockchain, the technology that underpins bitcoin. Despite China’s ban on cryptocurrency exchanges in 2017, the comments from the leader of the world’s second-largest economy could boost sentiment toward digital assets in general, providing a positive market backdrop for bitcoin, says eToro’s Mati Greenspan. Bitcoin prices shot up 12 percent Friday, climbing off a five-month low touched earlier this week, after Chinese President Xi Jinping said…

Bitfinex Denies Laundering, Says It’s a Victim of ‘Fraud’ by Crypto Capital

Bitfinex says it was conned. The crypto exchange and sister company of Tether claimed Friday that it was the “victim of a fraud” at the hands of Crypto Capital, a payment processor that allegedly lost $880 million of Bitfinex’s money. Crypto Capital’s president, Ivan Manuel Molina Lee, was arrested Thursday by Polish police on charges of money laundering. Authorities had written that Molina Lee’s crimes included “laundering dirty money for Columbian drug cartels using a cryptocurrency exchange.” In a statement released Friday, Bitfinex said it will “make its position clear”…

Bitcoin Transferred a Giant $11 Trillion Since 2009, New Data Reveals

Bitcoin (BTC) has transferred $11 trillion in wealth since its blockchain first went live in 2009, according to the fresh calculations. Bitcoin “going strong” at $9.6 billion per day Uploaded to social media by analyst PlanB on Oct. 24, the latest buoyant statistics for Bitcoin show the largest cryptocurrency is still beating out fiat competitors.  At present, the network is processing around $9.6 billion every day. At that rate, Bitcoin passes PayPal’s annual transaction volume — $578 billion for 2018 — in just two months. PlanB used his Bitcoin full…

New York Watchdog Extends Window for Bittrex Users to Withdraw Funds

Crypto exchange Bittrex will once again extend its deadline for New York customers to withdraw funds from their accounts following approval from the New York Department of Financial Services (NYDFS). Announced Friday by Bittrex, the extension is the second since the Seattle-based exchange was denied a regulatory license to operate in the state in early April, colloquially called the BitLicense. Originally, Bittrex customers were given until June 8 to withdraw deposits on the exchange which was bumped to Oct. 24 with permission from the DFS The state regulator had withheld licensing…

Bitcoin (BTC) Price Primed For Additional Losses Below $7.2K

Bitcoin price is showing bearish signs and still trading below $7,500 against the US Dollar. The price is facing a lot of hurdles on the upside near $7,500 and $7,600. There is a major bearish trend line forming with resistance near $7,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could decline further below $7,300 if it continues to struggle near $7,500. Bitcoin price is facing an uphill task near $7,500 and $7,600 against the US Dollar. BTC could decline below $7,300 and $7,200…

Crypto Market And Bitcoin Remain In Downtrend: BNB, BCH, LTC, EOS Analysis

The total crypto market cap declined heavily and settled below the $205.0B support area. Bitcoin price is trading in a bearish zone and facing hurdles near $7,500 and $7,600. Litecoin (LTC) price is correcting higher, but it could face resistance near $50.00 and $51.00. BCH price is slowly moving closer towards the $220 resistance area. EOS price is correcting higher, but the $2.850 area is likely to prevent gains. Binance coin (BNB) is holding the $16.20 support area and it could recover towards $17.20. Bitcoin (BTC) and the crypto market…

Ripple (XRP) Price Rebounding Nicely While BTC & ETH Continue To Struggle

Ripple price is currently correcting higher after a sharp decline to $0.2500 against the US dollar. The price is showing positive signs and is trading nicely above the $0.2720 level. Yesterday’s highlighted key bearish trend is active with resistance near $0.2780 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could correct higher towards the main $0.2850 and $0.2880 resistance levels in the near term. Ripple price is correcting higher nicely above $0.2700 against the US Dollar, while bitcoin and Ethereum are struggling. XRP price…