Bitcoin Price Breaks Medium-Term Resistance after Surging 8% Near $4,000

The Bitcoin market came back on its bullish track during the February 18’s trading session. The Bitcoin-to-Dollar rate (BTC/USD) on Monday established an intraday high towards 3917, up 8.08% since the open. The pair rallied through the Asian session and continued its upside momentum after the European market opened. Around 1600 UTC, BTC/USD also broke through a strong resistance trendline of the medium-term triangle pattern discussed in our Bart Simpson analysis. Have a look: Last week, we had left the Bitcoin market in a bias conflict. The cryptocurrency was forming what looked like a bull flag. Nevertheless, as the flag

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Bitcoin, Ethereum Rally as Market Gains Over $5 Billion in a Day; Crypto Bulls Returning?

Cryptocurrency market started the week with an impressive rally, rising from $120.91 billion to as high as $126.391 billion in a day. At 0900 UTC, the global crypto market cap was valued at 126.30, up 4.45% from Sunday’s low, with all the top 10 coins trending into their green territories. Bitcoin, the index’s leading cryptocurrency, posted 3.01% gains according to 24-hour adjusted timeframe calculated by TradingView.com. Ethereum, the second largest cryptocurrency, did better by surging 10% within the same time. Bitcoin Cash, the Bitcoin-clone project led by Roger Ver, was the second-best performing cryptocurrency in the top ten. It rose

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Even Bitcoin-Bashing ‘Dr. Doom’ Roubini isn’t Buying JP Morgan’s Ridiculous Cryptocurrency

“S**t f**k, I agree with Nouriel,” said one cryptocurrency enthusiast in reference to NYU economist and vocal bitcoin bear Nouriel Roubini. Agreeing with Nouriel Roubini for a cryptocurrency lover was an unbelievable thing. The global economist called bitcoin “a mother of all scams and bubbles” before the US senators. He wrote elaborative anti-cryptocurrency reviews for mainstream media. He celebrated when the prices of leading top coins fell drastically. In short, no cryptocurrency supporter should have agreed with the “Dr. Doom.” Not unless JP Morgan came into the picture. The American multinational bank on Thursday announced that it had created “JPM Coin,”

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US Regulators File Charges Against Apple Insider Trading Lawyer, for Insider Trading

The job of a top lawyer at Apple Inc. was to ensure that no employees violate the company’s insider-trading policies. It turned out that he was the one who was trading Apple Shares illegally, according to US regulators. The US Securities and Exchange Commission (SEC) filed a lawsuit against Gene Daniel Levoff, who served as Apple’s senior director of corporate until September 2018 and was also a part of the company’s disclosure committee. According to the filing, Levoff exploited his well-placed position to manage his Apple shares trading privately. He would gain access to the company’s periodic earnings results and draft public

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Ripple’s Brad Garlinghouse Explains Why He’s Not Scared of JP Morgan’s ‘Bank Cryptocurrency’

Three MIT students in their early 20s created a technology that could draft predictive responses to emails. In May 2018, they proceeded to raise funds for their startup – EasyEmail. Around the same time, Google held its annual conference in which it announced a feature similar to that of EasyEmail. The startup’s founder, Filip Twarowski, expressed his shock, fearing that competing with Google would scare off venture capitalists. The history of entrepreneurship is full of stories in which more prominent corporations try to squash young companies by copying them. Or, they acquire them completely to eliminate a threat. In the case

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Here’s Why the Bitcoin Price Has Crypto Traders Railing at Bart Simpson

Bitcoin’s recent price movements have crypto traders everywhere railing at Bart Simpson for roiling the market. Below, we’ll explain why, but first, let’s take a look at the flagship cryptocurrency’s movements today. Bitcoin Price Trades Sideways Bitcoin price action has not changed much since our previous analysis. The digital currency continues to trend inside a narrow channel. Whether or not this channel is a bull flag cannot be determined just yet. The only positive thing in the current trend is bitcoin’s ability to hold onto gains it made during February 8’s impressive bull run. As of Thursday afternoon, the bitcoin-to-dollar rate

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Japanese Giant GMO’s Bitcoin Exchange and Mining Venture Lost ¥1.3 Billion in Bear 2018

Japan-based GMO Internet Inc. (TYO: 9449) incurred an operating loss of ¥1.3 billion (~$11.75 million) in the fiscal year 2018. The IT company published its financial performance on Tuesday, saying that its cryptocurrency verticals, including a bitcoin exchange and mining business, posted circa $74.44 million worth of net sales. The report clarified that while its exchange business was able to build a revenue base, the mining side fared poorly. In total, the firm’s mining business structure recorded a standalone loss of circa $18.3 million in 2018. $319.2 million in Extraordinary Losses Excluded GMO financial report also clarified that its mining output

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MasterCard, Ripple, Barclays Fund US XRP Remittance Firm in $1.7 Million Seed

Global remittance startup SendFriend has raised $1.7 million in pre-seed funding by 13 participants. The US company announced Monday that it had received support from MIT Media Lab, Barclays, the Mastercard Foundation, Ripple, TechStars, Mahindra Finance, 2020 Ventures, and 8 Decimal Capital. Other companies that joined the round at an earlier stage include Deloitte and New York Angels. Thanks to @BuiltInNewYork for including us on their list of 50 Startups to Watch in 2019. Excited for a fun year ahead! #fintech #sendfriend #nyctech https://t.co/9OxD8xIQVG — SendFriend (@sendfriendinc) February 5, 2019 Partnership with Ripple Labs Launched in May 2017 by a

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This Uber Co-Founder’s Bitcoin Brokerage Just Went Public in Canada

Voyager, a brokerage startup that helps users easily find the best prices for Bitcoin and other crypto assets, has gone public in Canada on the Toronto Venture Exchange (TSX-V) through a reverse merger reportedly worth $60 million. The privately-held company co-launched by ex-Uber CTO Oscar Salazar acquired publicly-traded company UC Resources Ltd. Voyager entered a share-purchase agreement with the former mineral exploration company, which led to the formation of a newly merged venture, dubbed Voyager Digital (Canada) Ltd. Voyager is now trading on the TSX Venture Exchange. For us, going public just made sense to bring transparency to our business and

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Why This Technical Analyst Says the Bitcoin Price Rally isn’t Over Yet

The bitcoin price on Monday showed no significant movements after posting an impressive rally early Friday. That doesn’t mean the flagship cryptocurrency’s rally is over, however. As of the time of writing, the bitcoin-to-dollar exchange rate (BTC/USD) was trading at $3,598, up 0.05 percent since the Asian session open. The pair consolidated sideways ahead of the US trading hours inside a narrow – and a rather weak – downward channel. From a broader perspective, this channel gave a hint of a near-term bull flag formation. Bitcoin’s Bull Flag – and What it Means Technically, a bull flag formation is a

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California Engineer Loses $422,000 in Life Savings after Using QuadrigaCX; Is Help Coming?

A California-based engineer lost the entirety of his life savings after using QuadrigaCX’s cryptocurrency exchange for remittance. Tong Zou, 30, said in an interview to Bloomberg that he had opened a withdrawal request at QuadrigaCX in October 2018. According to his statements, he was planning to move to Canada at that time. Zou thought using a cryptocurrency exchange for remittance would save him money. So, he purchased bitcoins in the US and transferred them to his Canada-based Quadriga CX exchange account for a quick fiat withdrawal. “I wasn’t using it for trading — I just wanted to move my money

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The Bitcoin Price is Booming, But Here’s Why You Shouldn’t Get Too Excited [Yet]

The bitcoin price on Friday posted one of its most robust bullish sessions in weeks as it rose as much as 10.5 percent in just twelve hours. The bitcoin-to-dollar exchange rate (BTC/USD) established a higher high towards $3,710, up 10.38 percent from the Asian session open. It was not a matter of technicals only; the fundamentals also played an important role in catalyzing the ongoing bitcoin bull run. Robert J. Jackson Jr., a commissioner at the US Securities and Exchange Commission (SEC), said in an interview that the regulatory agency would eventually approve a bitcoin ETF. The news, it seems, helped

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A Central Bank Digital Currency May Lead to All Kinds of Monetary Chaos, says Korea’s Central Bank

A Central Bank Digital Currency (CBDC) is not good for a country’s financial stability, said the Bank of Korea in its latest report. Dubbed as ‘Central Bank Digital Currency and Financial Stability,’ the study found that the introduction of CBDC deposits would radically decrease the supply of private credit by commercial banks. As a result, those banks will likely increase their interest rates which will further lead to a decline in their reserve-deposit ratio. CBDC Promotes “Bank Panic” Authors Young Sik Kim and Ohik Kwon reached the said conclusion after considering that central banks will work as account holders. In

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Bitcoin Bull Tom Lee Predicted a $25,000 Milestone in December. His Firm Just Set a Target of $2,270 in Q1 2019

Fundstrat’s Tom Lee had predicted Bitcoin price to touch the $25,000-mark by the end of 2018. The November crash prompted the crypto bull to lower his prediction to $15,000. However, against the projections, the digital currency closed the year just shy of $3,800, according to CoinMarketcap.com. The new year also did not bring much relief to the bitcoin and the rest of the cryptocurrency market. The industry entered its most extended bear cycles in February 2019 and, according to Fundstrat, it is heading lower shortly. The bullish-turned-bearish market research firm said in an email to Bloomberg that bitcoin could now fall

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Bitcoin SV Leaps 13.62%, Rooting Itself Among Billion-Dollar Cryptos but Fails to Make Top 10

The Bitcoin SV posted an impressive rally during the trading session on Thursday but found enough resistance at a higher high formation. The coin briefly surpassed Binance Coin to claim its 10th top cryptocurrency spot but retraced back to 11th position due to weak upside momentum with a current market cap of $1.1 billion. Deja Vu Trading The Bitcoin SV-to-dollar exchange rate (BSV/USD) established a new intraday high at 70.526, up 13.62% from the day’s open. However, the pair remained on the defensive as the continuation of a long bearish move prompted a downside correction action. It revisited 62.131, a

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Why the Latest Bitcoin Dump Could Actually Launch the Crypto Market into Bullish Territory

The bitcoin price on Wednesday depreciated as much as 2.56 percent on the back of a stronger US dollar. Paradoxically, that might not be such a bad thing for the crypto market. The bitcoin-to-dollar exchange rate (BTC/USD) bottomed at $3,340 on an intraday basis, while retesting the low of January 29 trading session. There was a little attempt from bulls to reverse the price action with the bearish bias intact. Nevertheless, the pair consolidated above $3,340, which served as an opportunity to reclaim $3,400 in the near-term. Bitcoin’s Six Triangles In our previous analysis published Monday, we had predicted a

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Binance Coin (BNB) Leaps with 22% Gains after Unveiling Project ‘Launchpad’

Binance Coin (BNB), the native token of Binance crypto exchange, posted up to 22% gains Tuesday as it entered the top ten crypto index. The Binance-to-Dollar rate (BNB/USD) established its intraday high at 8.788 at the European session open. Earlier today, the pair opened at 7.158 as a part of its previously ongoing rally. On January 31, the BNB/USD was trading as low as 6.079, which brings the pair’s weekly gains up to 44.5%. From a technical perspective, BNB/USD was previously trending lower inside a falling wedge formation. Ideally, as the wedge contracts and volume begins to go down, the

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Mining Bitcoin or the ‘Crypto-Ruble’ Just Another Form of Counterfeiting, Claims Russian Banking Chief

The head of VTB Bank, a major Russian financial institution that sees the government as its majority shareholder, has compared bitcoin mining with counterfeiting. Andrei Kostin, who serves as the president and the chairman of the management board of VTB Bank, said Monday during an event that any person who prints digital money to replace Russian Ruble was counterfeiting the state-backed fiat. According to Russian news agency TASS, the 62-year old banker also declared that he put central bank digital currencies in the same basket of decentralized cryptocurrencies, adding that: “I’m not a big supporter of crypto-ruble. For me, this

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Why the Bitcoin Price Will Reject the Bulls and Crash Even Lower

While financial forecasters are predicting a bullish 2019 for the bitcoin price, the cryptocurrency first needs to fight strong technical barriers in the near-term. It is becoming difficult for bitcoin bulls to initiate a substantial push towards the $3,480-barrier and beyond. At the same time, their presence at the support area above $3,371 is stopping the price from further downside action. The situation has led bitcoin to remain rangebound, which is increasing the bearish sentiment in the near-term scenario. On the intraday/weekly level, bitcoin could now pursue another selling action thanks to two pressing issues: lower volatility and volume. Let’s

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How Tron (TRX) Outperformed Top Cryptocurrencies on Bear Monday to Jump 16%

Tron (TRX) opened this week in positive territory in an otherwise bearish day for cryptocurrency market. The Tron-to-dollar exchange rate (TRX/USD) surged as higher as 0.029, a 16% up from the Monday’s open. However, the pump followed a correction action, setting lower highs on every downside move in an hourly chart. TRX/USD located interim support at 0.026. As of 1300 UTC, the pair was attempting a pullback action while forming lower highs towards 0.027. It had brought Tron’s 24-hour adjusted performance to +3.26%. In comparison, Bitcoin, Ethereum and Ripple posted modest losses ranging between 0.5-to-1.5%. Other top cryptocurrencies also traded

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Indian Telecom Operator RCom Shares Crash 50% after Racking Up $7 Billion Phone Bill

Shares in debt-laden Reliance Communications (RCom) fell close to 50% on Monday as the Anil Ambani-owned company announced that it would seek bankruptcy protection from India’s insolvency tribunal. At 0345 UTC, the company’s stock fell to an intraday low of 6.01 rupees a piece in Bombay Stock Exchange trading, bringing its annual downside rate to 19%. The stock chart formed three large red candlesticks consecutively, in which more than 120 million RCom shares exchanged hands in just one hour. Anil Ambani Reaches Bankruptcy Court RCom said Friday that it would shift its debt resolution plan to National Company Law Tribunal (NCLT). The company

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Multi-Billion Malaysian Scandal Could See Goldman Sachs’ Top Executives Lose $40 Million in Pay Backs

Goldman Sachs will cut back its top executives’ compensations depending on the consequence of investigation into the bank’s role in a multibillion-dollar Malaysian fund scandal. In a regulatory filing, Goldman announced that its board could reduce or forfeit the stock-based awards granted to its tier-one executives in 2018. Such a scenario could affect former CEO and Chairman Lloyd Blankfein and current CEO David Soloman. While Blankfein was guaranteed to receive $18.5 million in annual variable compensation, which included $14.245 million in the form of restricted stock units (RSU), Soloman was promised circa $15.4 million in RSU as a part of his 2018’s

Multi-Billion Malaysian Scandal Could See Goldman Sachs’ Top Executives Lose $40 Million in Pay Backs by CCN

7 Cryptocurrencies that Surprisingly Outperformed Bitcoin in January

Seven cryptocurrencies performed way better than Bitcoin during January’s market volatility. HOT, the native token of Holochain project, surprised the cryptocurrency community with a 178% price surge. Augur’s REP followed by posting a 51.50% monthly gain. Chainlink’s LINK came third after rising 39%, while Numeraire’s NMR became the fourth most profitable crypto asset after ballooning 35%. Tron’s TRX, Loopring’s LRC, and OAX’s token of the same name swelled between the range of 31-33% in the same time. In contrast, Bitcoin had lost close to 10% of its value by January’s close. However, the digital currency still fared better than a

7 Cryptocurrencies that Surprisingly Outperformed Bitcoin in January by CCN

Bitcoin Price in Recovery Mode – Will it Close the Week on a High Note?

The bitcoin price on Friday posted a modest 0.9 percent surge as it corrected from its ascending channel support level and sought to climb back into bullish territory. Bitcoin Price Charges Back Toward $3,500 The bitcoin-to-dollar exchange rate (BTC/USD) established its intraday low at $3,371 right at the beginning of the Asian session. The pair consolidated until the European trading hours kicked in, after which it underwent a modest correction. The positive sentiment rippled through the US trading session, during which BTC/USD established an intraday high at $3,458. The upside correction appeared despite a shocker from Canada. QuadrigaCX, the region’s

Bitcoin Price in Recovery Mode – Will it Close the Week on a High Note? by CCN

Ripple (XRP) in Pump-and-Dump Scenario, Sinks 12% from Weekly High

A substantial Ripple rally fizzled as the asset’s value fell as much as 12% from its weekly high. The XRP-to-USD exchange rate (XRP/USD) dropped to an intraday low at 0.3003 this Friday. Earlier yesterday, the pair had established a new weekly high at 0.3429 owing to global banking giant Swift’s announcement of integrating R3 Corda, which supports XRP as its native token. Traders treated the event as the sign of the next bull wave. The price surged impressively but found its upside momentum capped on a higher high formation towards $0.3429. A correction ensued and spent its Thursday maximizing. At

Ripple (XRP) in Pump-and-Dump Scenario, Sinks 12% from Weekly High by CCN

Will Fidelity’s Impending Bitcoin Custody Launch Turn the Crypto Market Bullish?

The bitcoin price on Wednesday recovered as much as 2.45 percent after reports indicated that Fidelity would launch its crypto custody service as soon as March. Fidelity Crypto Launch Brings out the Bulls At 18:00 UTC, the bitcoin-US dollar exchange rate (BTC/USD) was trading at $3,443 on crypto exchange Coinbase, down 0.6 percent from its intraday high at $3,459. Earlier today, the market had opened at a lower rate at $3,337 during the Asian session, while trending lower inside a descending channel formation. The positive sentiment kicked in after Fidelity Investments, a renowned capital management firm, announced that it would launch

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What Made Ripple’s XRP Gain 9% Against the US Dollar in Just 3 Hours?

Ripple on Wednesday posted 9% gains soon after Swift announced a partnership with R3, a blockchain consortium. At 0800 UTC, the XRP/USD was trading at 0.2934 on Binance. As the market sentiment kicked in, the pair posted three consecutive hourly sessions in green, taking the value to as high as 0.3292. By 1300 UTC, Ripple had risen to 12.2%. In comparison, Bitcoin surged at a modest 1.29%, and Ethereum gained 2.65% against the US Dollar. Swift Brings the Bulls Brussel-based global banking giant Swift today announced that it would integrate R3’s trade finance platform with its own Global Payments Innovation solution

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Iran Pitches ‘Crypto Rial’ to 8 Countries for Transactions, Avoiding US-Dollar Led Global Commerce Altogether

Sanction-hit Iran is negotiating the use of its state-backed cryptocurrency with eight foreign countries, according to a Tehran Times report. The Middle Eastern nation had its representatives met with their counterparts from Switzerland, South Africa, France, England, Russia, Austria, Germany, and Bosnia. According to Mohammad-Reza Modoudi, the acting head of Iran’s Trade Promotion Organization, the meeting took place in hopes to lure foreign investors into the country. At the same time, the representatives also discussed how Iran would settle its global trades while hit by an international banking sanction. Digital Rial, as Tehran Times reported, was Modoudi’s response. Circumventing US

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How Traders Can Make the Most of the Bitcoin Price’s Bearish Turn

The bitcoin price on Tuesday continued to pursue its downward trajectory, albeit finding decent support at one of the downside targets. The climate is not favorable for establishing long-term positions, but a few well-timed day trades can help you make the most out of the market’s recent bearish turn. Bitcoin Price Not Favorable for Long-Term Trades BTC/USD opened the Asian trading hours at $3,433, down 0.43 percent from yesterday’s high. The pair fell as much as 2.87 percent as the session matured. It established an intraday low at $3,337 before correcting higher during the European trading session. As of 19:00

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Bitcoin Price Analysis: Buckle up Bulls, More Losses Lie Ahead

The bitcoin price on Monday depreciated as much as 4.74 percent against the US dollar after breaking out of its two-week long consolidation period. At 20:00 UTC on Coinbase, BTC/USD was trading at $3,415, down 3.31 percent from today’s opening rate. The pair confirmed a downside break of its near-term bearish pennant formation. As it did, it also broke below a crucial support level at $3,460, which had capped a strong downside action on November 25, 2018. Bitcoin’s Technical Outlook Remains Weak Technically, the breaking of a bear pennant formation to the downside signals an extended selling action. It eventually

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