Bitcoin Indicator That Predicted March’s 60% Drop Is Bearish Again

Bitcoin is seemingly stuck in no man’s land. As this outlet has covered extensively, the cryptocurrency has been caught between a crucial support and a crucial resistance; every time BTC attempts to break past $8,500 or $10,000, it is rejected. There is a growing sentiment that down will be the direction that Bitcoin eventually breaks, though, with new analyses. There Are Multiple Similarities Between Bitcoin in March and Now According to one trader, there’s a […]

As Altcoins Rally, Blockstream CEO Says Bitcoin Is the Only Crypto

Even compared to Bitcoin, altcoins have done well for themselves over recent months. As one crypto data analyst observed early last month, BTC has actually underperformed small cap, medium cap, and large cap altcoins. Some argue that this a byproduct of better technology; others say that altcoins were oversold and are seeing a needed relief rally. Despite their outperformance, a prominent industry executive has reminded investors that he thinks there’s only one crypto. And that’s Bitcoin. […]

UK Bitcoin Firm to Sell $30M Stake to Financial Conglomerate SBI

London-based bitcoin firm B2C2 announced on Wednesday that it is selling stakes worth $30 million to SBI Holdings, Inc. The FCA-approved crypto business confirmed that it would provide liquidity to SBI. The fintech giant wants to expand its cryptocurrency offerings to its millions of customers. The partnership also expects to assist B2C2 as the award-winning bitcoin business builds an automated financing facility. B2C2, a London-based bitcoin firm, is partnering with financial giant SBI Holdings via a […]

Lithuania’s Central Bank to Fully Deploy its Blockchain Platform By Year-End

The Bank of Lithuania announced that it had completed the research phase of its blockchain project called LBChain. The central bank now plans to deploy the platform by the end of 2020 and expand its use cases beyond the financial sector. Bank of Lithuania to Expand its Blockchain Capabilities Beyond Financial Sector Earlier this week, the central bank of Lithuania successfully completed its third and final stage of the LBChain project. During the three phases, […]

Federal Judge Merges Two Cases Against Ripple

Earlier this week, a federal judge ordered a case against Ripple and its CEO Bradley Garlinghouse be consolidated with a class action led by Bradley Sostack. In civil law, consolidation involves the merger of two or more cases that are similar in nature in order to optimize the judicial resources. BMA’s Suit Merged with Class Action At the beginning of May, Puerto Rican company Bitcoin Manipulation Abatement (BMA) filed a suit against Ripple and its […]

French Competition Watchdog Mentions Rapid Development of Crypto Assets

The French Competition Authority, called Autorité de la concurrence, is looking for feedback from the public and fintech industry executives on the evolution of the payments industry. The regulator wants to understand the latest developments of blockchain, cloud, cryptocurrencies, digital wallets, and their impact on payments. Competition Watchdog Notes Rapid Development of Crypto Assets and Blockchain Last week, the competition regulator launched a survey with a focus on the fintech industry. Specifically, the agency is […]

JPMorgan to Pay $2.5M to Settle Crypto Fee Class Action

JPMorgan Chase Bank NA, the consumer and commercial branch of US banking giant JPMorgan, agreed to pay $2.5 million to settle a class action lawsuit. The suit is related to its previous decision to consider purchases of cryptocurrency with its credit cards as cash advances. Plaintiffs to Receive 95% of Damage For years, Chase processed credit card crypto payments as purchases. In 2018, the bank unexpectedly started to consider such operations as “cash advances,” which […]

Here’s Why a Lawyer Thinks Russia’s Cryptocurrency Ban is Unconstitutional

Recently, NewsBTC reported that Russia planned to criminalize the use of cryptocurrency, as stipulated in the latest draft bill “on digital currency.” However, Russian lawyer Maria Agranovskaya told local media agency ForkLog that the bill limits the rights of cryptocurrency holders to judicial protection, which is against the country’s constitution. Russian Expert Says Draft Bill to Ban Cryptocurrency Has Many Problems The draft bill, titled “On Digital Currency,” says that those who hold Bitcoin or other […]

Gold and 5 Crypto Assets Comprise New Index Listed on Bloomberg

Many gold investors are not endorsing Bitcoin as an investment option. Nevertheless, digital asset manager CoinShares launched an index that tracks gold and five crypto assets. CoinShares’ CGCI is EU BMR Compliant Earlier on Tuesday, CoinShares launched CoinShares Gold and Cryptoassets Index (CGCI). It is promoted as the first EU Benchmark Regulations (EU BMR) compliant index for the crypto industry that merges gold and crypto assets. The index can be monitored on Bloomberg Terminals and […]

Study: Bitcoin’s Use in Remittances, FX Boosts Crypto Adoption in India

India is one of the fastest-growing cryptocurrency markets in the world, according to a recent report by Coinpaprika and OKEx. The trend will likely continue as the government has recently made a u-turn by endorsing crypto operations. Immigrants, Govt Policies Are Driving Cryptocurrency Market’s Growth in India The report cites three main factors that are driving the crypto market – immigrants, finance, and government policies. The former two are supporting the demand side of the […]

China’s Civil Law Could Enable Citizens to Inherit Bitcoin

China’s Inheritance Law might soon be updated to include internet property and cryptocurrency, including Bitcoin. The draft bill is currently being reviewed by the government. New Inheritance Law to Be Part of China’s First Civil Code, and It Could Impact Bitcoin Recently, the Chinese parliament revealed the draft of its first civil code, which includes the protection of civil rights like property, personality, contract, marriage, infringement, and inheritance. The wide-ranging package of laws is expected […]

Crypto Traders Took a Massive $1.2B Hit During Yesterday’s 15% Crash

Few expected the crypto market crash that transpired yesterday. At times, Bitcoin was so volatile that the services of leading cryptocurrency exchange Coinbase temporarily went down, their status page suggests. No group felt the volatility as much as traders, which are especially vulnerable drops due to their utilization of leverage. Leverage allows traders to borrow money from exchanges, thus increasing potential returns but also increasing the risk. Crypto Traders Lost Over $1 Billion Worth of […]

Altcoins Surged After Bitcoin’s Last Halving: Here’s Why This Time is Different

Because we lack knowledge of the future, we look into the past to gain knowledge of what lies ahead. Bitcoin investors are no exception to this rule, often observing historical trends as a way to predict what comes next for cryptocurrency. Zack Voell, a market analyst at CoinDesk, made this much clear when he published tweet below. Per the data from TradingView, Voell noted, Bitcoin dominance — the percentage of the cryptocurrency market made up […]

Chainlink Cryptocurrency is Up 100 Percent YTD; What’s Behind the Intense Rally?

Chainlink has beaten bitcoin while emerging as one of the most profitable assets in the cryptocurrency, as well as the traditional market, in 2020. Demand for Chainlink’s LINK token has gone up after a US-based venture capital firm has backed its use to offer collateral to dwindling stablecoin DAI. LINK has broken above crucial resistance areas and is looking to extend its uptrend. However, there are some risks. Chainlink’s native cryptocurrency LINK has rebounded by […]

Bitcoin Could Hit $9k in Q2 as Price Jumps Short-Term Moving Average

Key Bitcoin takeaways: Bitcoin opened this week in positive territory, unfazed by the growing Coronavirus pandemic that crashed its prices by over 50 percent in March. The cryptocurrency remains trapped under the $7,500-resistance but is holding above a crucial medium-term technical support. It could pursue a bull run towards $9,000 in the current quarter as a string of bullish fundamental and technical factors converge. Bitcoin has been recording back-to-back weekly gains ever since its grim […]

Bloomberg Ironically Makes the Best Case For Crypto by Condemning the Fed

Bloomberg may have just made the best possible case for crypto. In an opinion piece for the mainstream news outlet, the writer points out that, “by throwing trillions of dollars at the coronavirus problem, governments risk undermining trust in currencies.” Doing ‘Whatever It Takes’ May be Good for Crypto As the Bloomberg piece points out, governments pledging to do “whatever it takes” is “going to cost a lot of money.” This is extremely concerning as […]

5 Key Fundamental Factors Suggest Bitcoin is Gearing Towards a Monumental Recovery

The wider economic outlook is extremely uncertain right now. But even as unemployment rises and fiat continues to debase, there are plenty of reasons to be bullish on Bitcoin. Let’s take a look at the top five today. 1. Bitcoin Price to 10x 1-2 Years After Halving Despite some uncertainty surrounding the upcoming Bitcoin Halving and whether the lower-than-expected Bitcoin price may result in miner capitulation leaving the network vulnerable, investor and analyst PlanB is […]

5 Years Ago Bitcoin Was Worth This Much. It is Now Up 3,300% Since

Are you ready for your daily dose of random facts and hopium? Good, because here it comes. Five years ago, one Bitcoin was worth just $200. Now it’s around $6,800. That’s a staggering 3,300% increase despite the current economic turmoil. You Could Buy 1 Bitcoin with $200 in 2015 Okay, okay. So, this is a little like one of those Facebook posts from an unwaveringly optimistic friend trying to cut through the doom and gloom […]

China Crypto Insider Releases More Details About PBOC’s Digital Yuan Project

Yesterday, the crypto community was shocked when local reports suggested that the Agricultural Bank of China — one of the nation’s biggest commercial banks, which is coincidentally state-owned — has begun to test a national digital currency project. The reports cited images leaked through WeChat that showed a new application by the Agricultural Bank of China. They specifically depict a beta version of an application branded with the logos of the Agricultural Bank of China. […]

What Shrinking Crypto Communities Mean for the Prices of Bitcoin & Altcoins

Every notable Bitcoin bottom has been marked by a bout of capitulation in the crypto industry; at the end of 2018, BTC fell from $6,200 to $3,150 within two weeks, the 2015 bottom was marked by a more than 50% decline in three days, and so on. But, it isn’t just rapidly-falling prices that suggest a market has capitulated, it’s the health of the industry too, with new data showing that the size of crypto […]