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:

Why Bitcoin Is The Answer To Central Bank Monetary Madness

By: Martin Young Bitcoin is many things to many people, for some it is a way to make a quick buck day trading, for others a hedge against political and economic adversity and a failing banking system. Regardless of its price fluctuations, BTC does something banks never can, it empowers the people that hold it. Bitcoin Beats Banks Another week goes by and billions more get injected back into the US financial system by its central bank. According to the WSJ the FED added another $57.5 billion in temporary liquidity to financial markets Thursday. The central bank has been meddling in markets since September and plans to increase repurchase operations over the holiday period. More than triple the current Bitcoin market capitalization will be pumped back

Bitcoin Eyes Minor Price Bounce After Hitting Two-Week Low

By: Omkar Godbole Bitcoin has fallen to two-week lows near $7,070. Intraday charts suggest scope for a minor bounce to $7,300. A UTC close above $7,870 is needed to confirm a short-term bullish reversal. Acceptance below support at $7,087 would bolster the short-term bearish setup and open the doors for a re-test of recent lows near $6,500. Bitcoin has potential for a small price bounce after hitting two-week lows early on Thursday. The top cryptocurrency by market value fell to a two-week low of $7,072 during the Asian trading hours and was last seen changing hands at $7,160 on Bitstamp, representing a 0.8 percent drop on a 24-hour basis. The week began on a negative note with the cryptocurrency registering a 2.4 percent drop on Monday

Asia’s Grayscale? Two new bitcoin trust products get launched, with Coinbase as custodian

By: Yogita Khatri QUICK TAKE Asset management firm IDEG Investment has launched two new bitcoin trust productsThe products – Asia Bitcoin Trust I and Atlas Mining Trust I – claim to have a total size of $200 million A Coinbase spokesperson separately confirmed to The Block that Coinbase Custody is the custodian for both the products  Asset management firm IDEG Investment has launched two new bitcoin trust products - Asia Bitcoin Trust I and Atlas Mining Trust I - claiming to have a total size of $200 million for both the products. Announcing the news on Sunday, Hong Kong-based IDEG said unlike passively-managed products like Grayscale Bitcoin Trust (GBTC), Asia Bitcoin Trust I is an actively-managed product. IDEG will apply “hedging and arbitrage strategies” to

Ethereum Gets Another Big Development Boost From Ernst & Young

By: Martin Young Accounting giant Ernst & Young has just released open source code that vastly improves privacy and transaction efficiency for Ethereum. The news comes just days before the network undergoes an upgrade that further reduces costs and increases security. EY Supercharges Ethereum Privacy From a technical standpoint Ethereum is constantly strengthening, but that has not been reflected in token prices. There are some huge companies working with the platform and EY is among them. The accounting firm is using the public Ethereum blockchain to reinvent how businesses work together, it aims to bring ETH to enterprises. In April this year, EY released a small development in Ethereum technology called Nightfall, which was designed for making private Ethereum transactions. According to a recent announcement, Nightfall has

Bitcoin Holders Stay Strong as 11 Million BTC Remain Dormant in 2019

By: Christian Gundiuc While bearish sentiment is setting in, the Bitcoin network’s metrics paint a more optimistic picture. An eye-catching 11 million Bitcoins haven’t been moved over the past year, hinting that holders were not ready to sell at 2019’s bottom nor at its highs. No Movement for 11 Million Bitcoins in 2019 According to data provided by BitInfoCharts, over 11 million Bitcoins haven’t moved wallets over the past year. This is seen as a signal of strong confidence from long-term investors regarding the largest cryptocurrency, especially when Bitcoin’s price oscillated from the lows of $3000 to $14000 during 2019. To read more:

Do Bitcoin Trend Lines Indicate a Possible Thanksgiving Rally?

By: Martin Young Talking Bitcoin Trends Following its big dump to $6,550 earlier this week, Bitcoin has returned to its consolidation zone in the low $7,000s. The asset has moved back above the 50 hour moving average and has been sideways for a couple of days facing resistance above $7,200. Since the same time last week BTC has lost 12% and the charts are still looking ugly. The 200 day moving average appears to be leveling out and could start to turn south if the down trend continues. The last time it did this was in May 2018 and a year of losses followed. To read more:

All you want for Christmas is Bitcoin? GiveBitcoin has good news

By: Nicholas Marinoff The crypto market might be filled with anxiety at the moment over the rapidly declining price of Bitcoin and massive selloffs, but there’s at least one new startup in cryptoland that wants to help you give those bitcoins away—just in time for the holidays. GiveBitcoin.io, which just launched last Thursday, aims to enable people to give the gift of Bitcoin to friends and family on holidays, birthdays and special occasions. The company boasts an impressive list of investors and advisors, including Dr. Saifedean Ammous, economist and author of The Bitcoin Standard; Bitcoin entrepreneur Matt Odell; Coinshares CSO Meltem Demirors; and Funstrat cofounder the aforementioned Tom Lee. To read more:

As Bitcoin, Ethereum, Ripple’s XRP, And Litecoin Lose Billions, This One Small Coin Has More Than Doubled

By: Billy Bambrough The bitcoin and cryptocurrency market has lost a combined $170 billion since its year-to-date high set in June, with major tokens ethereum, Ripple's XRP, and litecoin all falling steeply. The bitcoin price has almost halved, dropping from almost $14,000 to trade at around $7,600 today (though some heavyweight crypto investors remain upbeat). However, one relatively minor cryptocurrency, chainlink, has more than doubled since June, jumping from around $1 to $2.55 after the company behind the token revealed a raft of partnerships and deals to use its technology. To read more: