South Korean police have reportedly raided Bithumb cryptocurrency exchange offices again in an additional seizure search according to The Seoul Newspaper. Much like the first raid that took place on 2 September, this second raid was also connected to seizing evidence for fraud allegation. However, this time the raid was conducted at the Bithumb Holdings...Read More
Customers in France can now pay in Bitcoin when they order from Just Eat France which is an online food ordering company and a part of the UK based Just Eat group. Moreover, the platform announced on its website that it would use Bitpay as its BTC payment provider. There was no official announcement about...Read More
Former project manager at now defunct crypto investing firm Bitsonar, Yaroslav Shtadchenko, has filed a complaint with the U.S Federal Bureau of Investigation (FBI) accusing his former employer at Bitsonar of fraud. The accused, Bitsonar’s founder, Alexander Tovstenko, who was also a former clerk at the Ukrainian government hired Shtadchenko in 2018 “to provide consulting...Read More
Argentina’s official immigration agency suffered a ransomware attack with hackers demanding $4 million in Bitcoin, according to reports. The immigration agency otherwise known as the Dirección Nacional de Migraciones (DNM) suspended border crossings for four hours until officials revived the systems again from the attack, according to local reports. The cyberattack was first reported by...Read More
Bitcoin’s 2020 rally is stalled, for now. However, throw some liquidity and bullish trading sentiment in the mix and you have a winner. In fact, an in-depth look at Bitcoin Futures’ charts suggests that the cryptocurrency’s price may bounce back soon. A reason why this may be the case is that Open Interest and daily...Read More
Bitcoin’s latest price drop below its crucial support level of $11500 has once again re-ignited the question of ‘buying the dips’. However, not all dips are alike, and buying the dip may not always be your best bet. @CryptoWhale was among those who recently commented on the narrative of “buying the dip.” Source: Twitter Some...Read More
As is often the case in the digital asset market, an altcoin may perform extremely well over the course of a bull rally. In fact, it may even outperform Bitcoin, which is why in the eyes of many, such tokens might even look like the real thing. However, many of these would soon crumble under...Read More
It feels weird writing about Bitcoin’s drop to $10,000 since usually, the headlines are all about Bitcoin’s rise above $10,000. However, with the market as bullish as it is now, a drop to $10,000 seems to be much worse than it actually is, compared to a rise over it. Even so, how bad is it?...Read More
The descent in Bitcoin’s price has been drastic but at the time of writing, it was holding steady above the $10,000 level, something that, as we all know, is ephemeral. Bitcoin’s price wants to dip to the low-$9,000s and the same will happen eventually, however, until then, keeping your hands off trading would be good...Read More
Any bitcoin drops under $10,000 are being bought up quickly leading to long bottom wicks. This shows that there are a lot of bidders under $10,000 waiting eagerly to buy bitcoin. At press time, however, on a lower time frame, Bitcoin formed a bullish pattern; hence, in the short term, we can expect bitcoin to...Read More
Over the past few weeks, the hype around a supposed altseason seems to have died down. I mean, sure, DeFi is still what one would characterize a “booming space.” But, many of the market’s altcoins have fallen on the charts lately, especially since Bitcoin dipped under $11,000 a few days ago. Thus, the question arises...Read More
Bitcoin has crashed from $12,000 to below $10,000 all in under a week. Six months after suffering a brutal crash, bitcoin is crashing yet again and unlike the last time, the reason is slightly different. The blame is in part on miners who seem to be selling off their holdings rapidly. How do miners fit...Read More
Ever since the largest cryptocurrency in the world began its bullish swing a month ago, it has breached the $12,000 mark a few times with each attempt succeeded by a big push down and thus placing Bitcoin into a FUD-feedback loop. FUD stands for fear, uncertainty and doubt, and it’s quite a common occurrence in...Read More
The Times, They are a-Changin…. The same is also true for Bitcoin and the rest of the crypto-market. The world’s largest cryptocurrency has been facing a lot of turbulence over the last few days, with BTC finally plunging to its July levels. In fact, since the beginning of September, Bitcoin has lost over 12.06% of...Read More
Bitcoin’s recent price action triggered a cascade of sell liquidations on BitMEX. In fact, a total of $264 million sell orders were liquidated following Bitcoin’s price drop below $11,500. Interestingly, the U.S stock market also suffered a similar fate. However, perhaps the reactions of traders on derivatives exchanges are most important since those reactions influence...Read More
Bitcoin’s price has been increasingly volatile over the past few days. However, despite its most recent fall, the cryptocurrency has been able to maintain its position above the key $10,000-mark. While growing uncertainty in the global markets has followed the fiat printing spree governments undertook to keep the economy alive, Bitcoin’s value proposition as a...Read More
In light of the short-term memory span of most people in the cryptocurrency space, it’s easy to forget just how bullish Bitcoin has been, despite its drop from $12,000. For over a month, Bitcoin has been trading in five-digits, and most of that time was spent over $11,000. The largest cryptocurrency in the world was...Read More
A judge in the Seoul Central District Court today announced a ruling regarding a lawsuit filed by three users of Bithumb Korea who claimed $126,000 and $38,000 for damages citing data leaks during a 2017 Bithumb hack. The ruling is said to hold Bithumb partially liable for the damages claimed by the users. Local news...Read More
In a panel discussion with the Brooking Institution, Governor of the Bank of England, Andrew Bailey said that stablecoins, Bitcoin, and other cryptocurrencies are difficult and unsuitable for the public to use for traditional payments as he believed that the majority of the retail public still does not understand the usage of digital currencies. According...Read More
Companies and individuals in Switzerland can now pay taxes up to 100,000 Swiss francs (about $110,000) paid in Bitcoin or Ether. Authorities in Switzerland announced today that it planned to accept premier cryptocurrencies Bitcoin (BTC) and Ether (ETH) for tax payments from February 2021 onwards, according to a report from the Associated Press. The decision...Read More
Disclaimer: The findings of the following article should not be taken as investment advice, with the same deduced based on the immediate price activity of Bitcoin amidst strong bearish pressure in the market Between 25 August and 2 September, Bitcoin managed to re-test its support level at $11,150 thrice, with the resistance level at $12,000...Read More
Being one of the most powerful men in the world offers no immunity from the tricks and wits of scamsters. This was evidenced a few hours ago after the Twitter account of Indian Prime Minister Narendra Modi’s website was hacked by “John Wick,” a few weeks after a wider attack was orchestrated against the likes...Read More
The California based financial services company, Robinhood Markets Inc faces a civil fraud investigation by the U.S Securities and Exchange Commission over its deals with high-speed trading firms, according to a report in the Wall Street Street Journal. Robinhood allegedly failed to fully disclose its practice of selling clients’ orders to high-speed trading firms, the...Read More
The U.S Commodity Futures Trading Commission (CFTC), which regulates virtual currency derivatives, today announced that it has approved cryptocurrency exchange LedgerX’s requests to remove the “digital currency” limitation. Under this new amended order, LedgerX is now authorized to clear products not directly connected to cryptocurrencies. According to the release: Under the amended order, LedgerX is...Read More
Bitcoin witnessed a crash from $11,700 to $11,100 in less than an hour and has taken down a lot of altcoins with it. As seen below, most of the altcoins are bleeding red. CoinGecko showed that almost all coins in the top [excluding stablecoins] are all down by 2-6% in the last hour, with the...Read More
Bitcoin and cryptocurrency research development group, Chaincode Labs has hired developer and co-founder of Blockstream, Pieter Wuille, who will now work on protocol improvements to Bitcoin. The coder and engineer posted a tweet in which he said he would continue to collaborate with the research team at Blockstream. Very excited to announce I’m joining Chaincode...Read More
Canaan Inc, a leading Chinese Bitcoin mining hardware manufacturer published its unaudited second quarter (2020) financial results. As per the report, the company’s gross profit increased year over year and quarter over quarter, but Canaan still suffered a net loss. However, the firm’s gross margin expanded significantly last year as well as in the first...Read More
Institutional investors and their interest in Bitcoin Futures are driving growth on derivatives exchanges like the CME and Bakkt. In fact, just recently, Bakkt Bitcoin Futures volume hit a new high of $167M, while the CME clocked in a volume upwards of $930M on the same day, the 25th of August. Source: Skew Source: Skew...Read More
Daemon Technologies, a firm based in Hong Kong, will now drive the adoption of Stacks technology to support cryptocurrency mining communities in Asia according to its launch tweet. Excited to announce my next chapter in the @blockstack and #stacks ecosystem! https://t.co/JRdZPeDwhi — Xan Ditkoff (@XanDitkoff) August 31, 2020 The firm stated that Asian mining communities were...Read More
For the longest time, trust has always been missing from the digital asset industry. 2017’s ICO boom, during which innumerable altcoins and shitcoins were shilled, did little to reverse this sentiment in the minds of many. In fact, now, there is a common consensus that suggests that the industry has put the crypto-demons of 2017...Read More
