Bitcoin Price Spikes to 3-Month High as Bull Cross Approaches

By Omkar Godbole Bitcoin printed a three-month high on major exchanges early Monday with key indicator eyeing its first bullish turn in 11 months.  Prices rose to $9,615 on Luxembourg-based Bitstamp exchange during the Asian trading hours. That was the highest level since Oct. 28. The top cryptocurrency also hit a three-month high of $9,628 and $9,615 on Bitfinex and Coinbase, respectively.  Meanwhile, bitcoin’s global average price, as calculated by CoinDesk’s Bitcoin Price Index (BPI), fell $30 short of Friday’s high of $9,633 – the highest level since the end of October.  Notably, the move higher happened as China’s stock market fell 8 percent in early trading – likely due to the coronavirus outbreak and its potential impact on the nation's economy. The Chinese equity markets were closed last

Bitcoin Highlighted as Lebanese Banks on Brink of Insolvency

By  Julian Thomas With the global health of banks not in a good space thanks to a potential financial crisis looming, some countries have essentially thrown in the towel sending their economies into a tailspin. Lebanon is one such country that is facing a banking crisis that is not only damaging its economy but also looks as if the only outcome will be total collapse. Bitcoin has been and could continue to serve as an alternative. Inside the country, citizens are being faced with an extreme devaluation of the local currency to its USD peg, $300 weekly cash withdrawal limits, empty ATMs and extreme difficulty accessing their money at the banks. As a total collapse approaches, Bitcoin again shows its value in

Bitcoin a Step Closer to Taproot, the Biggest Upgrade Since SegWit

By Sead Fadilpašić World's most popular cryptocurrency, Bitcoin (BTC), is one step closer to seeing it's largest change since 2017. Developer and Bitcoin Core contributor Pieter Wuille, has submitted a "pull request," which lets others know that a code change is ready for reviews, discussions, suggestions, etc. by the community, in order to add more commits if needed, and get the changes ready to be merged into the base branch upon a decision to do so. The pull request concerns a significant code change that is designed to increase privacy of the coin, called Taproot. "What is taproot? Trying to make all output scripts and most spends indistinguishable," said Wuille. As previously reported, Taproot soft fork comes together with more upgrades, complementary to each other. There are three BIPs (Bitcoin

BITCOIN FUND NOW ALLOWS 300K AUSTRALIANS TO INVEST IN BTC

By OSATO AVAN-NOMAYO Australia’s financial regulator has given its approval nod to fintech startup Raiz to offer its Bitcoin investment retail fund. The news marks a watershed moment for the Australian crypto space with regulators previously keen on strict oversight of the industry. ASIC OKAYS RAIZ RETAIL BITCOIN INVESTMENT PRODUCT According to the Australian Financial Review, the Australian Securities and Investment Commission (ASIC) has granted approval for Raiz to offer its Bitcoin investment retail fund. With the ASIC approval secured, Raiz can now go ahead with its planned launch of the product before the end of Q2 2020. Once launched, the Raiz Bitcoin investment retail fund will see 95 percent of customers’ investments placed in ETFs. The remaining 5 percent will be directly invested in

“The Next Bitcoin Bull Run Will Be Different,” Crypto Analyst Says

By  Lujan Odera  Bitcoin is currently on the verge of a mega move in the coming year – whether bullish or bearish – as it sits comfortably on the $8,700 support/resistance level. While the technical and fundamental prospects points to a potential bullish run, given the upcoming block reward halving in May, there remains doubts on whether the retail market will react similar to the two previous halving periods or take a completely different route. In this debate, two schools of thought take precedence – those who believe a similar bullish run to previous halvings will occur and those who believe the market has matured enough to avoid the euphoria that follows the natural supply decrease. To read more:

US Judge Rules That Craig Wright Won’t Forfeit Bitcoin In Kleiman Case

By Jack Martin A United States District Judge has ruled that a previous sanction ordering Craig Wright to give up half of his Bitcoins to the estate of Dave Kleiman will not stand. U.S. Magistrate Judge Bruce Reinhart’s delivered the sanction ruling last August in the long-standing court battle over an alleged 1.1 million Bitcoins which were mined by Wright and Kleiman in partnership in the early days of Bitcoin, shortly after Wright claims he invented it. According to court documents filed with a U.S. district court in Florida on Jan. 10, Judge Beth Bloom ruled that Reinhart’s earlier sanction order was not proper. To read more:

What the booming stock market means for bitcoin

By Matthew De Silva With the US stock market humming along, the investment landscape is starting to feel a bit frothy. The four largest tech companies—Apple, Microsoft, Amazon, and Alphabet—are now worth a combined $4 trillion. And in the last couple weeks, the Nasdaq and Dow have set record highs. The strong market is delightful, but to the intelligent investor, the fresh highs mean something else entirely: Everything is going right all at once, so now it’s more expensive to invest than ever before. How long can this euphoria continue? Especially in this climate, it’s tempting to throw caution to the wind and pursue high-risk investments. Volatile stocks are soaring and so are alternative financial instruments. Over the last year, Tesla shares rose 33% and bitcoin’s price

Bitcoin Follows Gold Sharply Higher After Iran Attacks U.S. Forces In Iraq

By Billy Bambrough Bitcoin, perhaps finally finding its place as a so-called safe haven asset, has moved sharply higher after Iran retaliated for the U.S. killing of Iranian general Qassem Soleimani. The bitcoin price, now up 15% so far this year, has added 5% to its value in the last 12-hour trading period. The jump in the bitcoin price came shortly after news of Iran’s missile attack on U.S.-led forces in Iraq early on Wednesday. To read more:

Why Fears of Correction Still Dominate the Bitcoin Market Despite Big Rally

By Yashu Gola Bitcoin staged a sharp price rally this Tuesday as speculators continued to assess the likelihood of a full-blown military conflict between the US and Iran. The benchmark cryptocurrency established a seven-week high of $8,000 on Coinbase, its best level in seven-weeks. The move upside brought its weekly gains up by 10.27 percent. The bitcoin futures trade, too, noted moves towards $8,100 after the price rally in the spot market. To read more:

Bitcoin is Laundered, Cash Isn’t — Claims Treasury Secretary Mnuchin

By Jon Buck United States Secretary of the Treasury Steven Mnuchin recently raised some eyebrows this week during a CNBC interview, commenting that cash isn’t laundered or used for nefarious activities, but Bitcoin definitely is. The interview, on CNBC’s Squawkbox, also included comments regarding President Donald Trump’s negative view of cryptocurrencies, of which Mnuchin shares similar concerns. To read more: