After Dip of $500, Bitcoin Price Back to Trading Sideways at $10,200

Thursday, Sept. 19 — Bitcoin (BTC) price is back up and seems to be stabilizing just above the $10,200 price mark after experiencing a sudden drop of $500 in minutes earlier today. Market visualization. Source: Coin360 Bitcoin is trading sideways again Bitcoin’s sideways trading behavior has become standard operating procedure in recent months, with long periods of sideways action giving way to sudden drops in prices, only to shoot back up to previous price levels. Bitcoin price has started to trade sideways once again, currently at around $10,290 per coin, according…

Bitcoin Price (BTC) Trading Near Make-or-Break Levels

Bitcoin price is trading in a range below the $10,300 and $10,400 resistances against the US Dollar. The price is struggling to gain momentum above $10,300 and the 100 hourly SMA. There is a key breakout pattern forming with support near $10,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could either rally above $10,400 or it might extend its decline towards the $9,900 support. Bitcoin price is trading below key resistances and hurdles against the US Dollar. BTC is likely to make the…

Japanese Messaging Giant Line Rolls Out Crypto Trading Platform Bitmax

Japanese messaging giant Line launched its new crypto trading platform Bitmax on Sept. 17, Cointelegraph Japan reports. FSA approval received Following regulatory approval to operate a crypto exchange in early September, Line’s blockchain arm LVC Corporation officially introduced its newly launched crypto platform today. In accordance with previous announcement, Bitmax will initially allow users to trade five major cryptocurrencies including Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH) and Litecoin (LTC). Small transactions for newcomers With exposure to 81 million users in Japan, Line now accepts deposits and withdrawals through…

Coinbase Pro to Add Support for DASH Trading

United States-based major cryptocurrency exchange Coinbase announced that its professional trading platform Coinbase Pro will launch support for DASH token next week. According to a Medium post published by Coinbase on Sept. 12, Coinbase Pro will start accepting DASH deposits starting Monday “for at least 12 hours prior to enabling full trading.” The launch of DASH trading, on the other hand, is planned for 9 AM Pacific Standard Time on Sept. 17. The company also noted: “Once sufficient supply of DASH is established on the platform, trading on the DASH/USD,…

Square’s Cash App Is Testing a Stock Trading Feature

Square’s cryptocurrency-friendly payment app Cash App is reportedly testing a new feature allowing customers to buy and sell stocks. Expanding Cash App Citing a source familiar with the matter, Bloomberg reported on Sept. 12 that the San Francisco-based startup’s employees began testing the new feature in recent weeks. Once released, it will allow Cash App users to make free stock trades. Square has reportedly not yet determined the exact date of the new option launch. Cash App and crypto Square made Bitcoin (BTC) deposits available on Cash App in late…

New Bitcoin Trading Record as Biggest Bank Embraces Petro

Venezuela’s largest bank, the Bank of Venezuela (BDV), has added support for the country’s controversial Petro digital currency.  Bank of Venezuela hints at crypto wallet As cryptocurrency news outlet Decrypt reported on Sept. 13, BDV clients have discovered a new section in their online banking account dedicated to cryptocurrencies.  At present, the crypto wallet only caters to Petro, but as the section appears to be still under development, speculation suggests more tokens may follow. Petro, launched by the Venezuelan government, is notionally pegged to the country’s oil reserves. The United States…

CME Seeks to Double Monthly Bitcoin Futures Trading Limit to 10K BTC

The Chicago Mercantile Exchange (CME Group) wants to let futures traders make even bigger bets on bitcoin. CME announced its intention to increase in the so-called spot month position limit for its bitcoin futures contracts in a letter to the U.S. Commodity Futures Trading Commission (CFTC) Thursday. The limit would jump from 1,000 contracts per month to 2,000 for any single investor. Since each contract is for five bitcoin, the change means a trader’s maximum exposure would double from 5,000 bitcoin (worth about $50 million at current prices) to 2,000…

Crypto and the Latency Arms Race: Towards Speed Bumps and OTC Trading

Max Boonen is founder and CEO of crypto trading firm B2C2. This post is the first in a series of three that looks at high-frequency trading in the context of the evolution of crypto markets. Opinions expressed within are his own and do not reflect those of CoinDesk.  The following article originally appeared in Institutional Crypto by CoinDesk, a free weekly newsletter for institutional investors focused on crypto assets. You can sign up here. Matthew Trudeau, chief strategy officer of ErisX, offered a thoughtful response last month to a CoinDesk article about high-frequency trading in crypto. In short,…

Turkish Takasbank Announces Blockchain Platform for Gold Trading

Turkey’s Istanbul Clearing, Settlement and Custody Bank (Takasbank) has announced its blockchain-based platform for trading physical gold. Dubbed BiGA, Takasbank’s new project aims to enable people to transfer physical gold stored at the Borsa Istanbul Stock Exchange (BIST), Turkey’s sole exchange entity, through digitized gold units on a blockchain, the bank announced on Sept. 6. The  units, which are similar in form and function to physically-backed stablecoins, have their value tied to the traded gold. As “BiGA” is the Turkish abbreviation for one gram of gold, one BiGA is equivalent…

OKCoin’s Fiat-to-Token Trading Now Available in 7 More US States

San Francisco-based cryptocurrency exchange OKCoin will now offer fiat-to-token and token-to-token trading services to residents of seven more US states. OKCoin expands services in the United States of America On Sept. 5, OKCoin, one of the top cryptocurrency exchanges by adjusted volume, announced that its trading services are now available in 7 new US states: Arkansas, Iowa, Kentucky, Mississippi, Pennsylvania, Utah and Wisconsin, which are added to an already extensive list of areas of operation in the US. Expanding into Europe Cointelegraph reported in early June that OKCoin had decided…