Bitcoin Price Shows Remarkable Correlation with Offshore RMB Futures

Bitcoin’s price has seen a dramatic resurgence of bullish support over 2019, which has allowed it to decouple away from a vast majority of traditional financial markets. But when we compare its performance to the Offshore RMB Futures market, however, we can see a striking resemblance between the two trends. Let’s take a look. What is the Offshore Renminbi Market Exactly? Renminbi (RMB) in Mandarin translates to ‘the people’s currency’, and has been officially recognized as the currency of the People’s Bank of China (PBoC) since 1948. The Chinese Yuan…

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CME’s Bitcoin Futures Hit New Records

Ever since the Chicago Board Options Exchange (Cboe) announced it was ending its bitcoin futures products back in March, the Chicago Mercantile Exchange (CME Group) has seen a huge influx of bitcoin derivatives volumes. During the second week of May, CME’s bitcoin futures touched a milestone when it surpassed 33,000 contracts ($1.3 billion notional value) in one day. In another instance, CME’s open interest for its bitcoin derivatives positions smashed an all-time record high of 5,190 contracts on May 28. Also Read: Our Value of Money Is Subjective But That…

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Bitcoin Price: Does New Tether Market Cap ATH Suggest BTC is Next?

It’s common knowledge in the crypto market that the circulating supply of Tether (USDT) has a direct impact on Bitcoin price. So with Tether’s market cap spiking to a new YTD-high right now, should we expect BTC to follow closely behind? Let’s take a look. Bitcoin/ Tether Analysis In the chart above drawn by Bitcoinist’s senior analyst, Filb Filb, we can see a direct relationship between Bitcoin’s price and Tether’s market capital – particularly over the last 10 months (blue and green lines respectively). On several occasions, Tether’s circulating supply…

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Top 10 Biggest Cities Now Googling For ‘Bitcoin’

Bitcoin economist, Tuur Demeester, has been Googling Google for the cities where ‘Bitcoin’ was Googled the most. Thankfully, he tweeted the results on Twitter. Top 10 Cities Googling Bitcoin Right Now 1. Lagos, Nigeria The top city when it comes to interest in Bitcoin is Lagos. This should really come as no surprise. Nigeria has longstanding economic woes and has consistently been one of the top countries for Google searches. Use of Bitcoin as a hedge against rampant inflation is well documented. Interestingly, adding ‘Buy’ to make the search term…

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Telegram Set to Go Ahead With ICO on This Crypto Exchange

Telegram has reversed its earlier decision to not carry out a public sale of its native token Gram by announcing a listing on the Liquid cryptocurrency exchange. U-Turn for Telegram? In a press release issued on Tuesday (June 11, 2019), the messaging platform declared that it would be going forward with a public initial coin offering (ICO) for its Gram token. The private phase of the sale garnered significant attention back in 2018, raising $1.7 billion. According to the statement, the first phase of the ICO involves a limited listing…

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Bitcoin People Directory Lists Crypto-Friendly Merchants

The number of businesses accepting cryptocurrencies for goods and services has been growing, particularly for P2P coins such as bitcoin cash. Finding places where you can spend your digital cash is easy thanks to platforms such as Bitcoin People. Also read: How to Buy a Cryptocurrency Hardware Wallet With Bitcoin Cash Find Products and Services You Can Buy With BCH Bitcoinpeople.online is a merchant directory listing companies that support payments in bitcoin cash (BCH) and several other major coins and tokens. It’s useful for both potential customers who want to…

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South Korea’s Biggest Bank U-Turns on Crypto With Custody Service

South Korea’s largest bank by assets, KB Kookmin, has partnered with a cryptocurrency startup to develop custody solutions. South Korea’s Kookmin U-Turns on Crypto Reported by local media outlet Business Korea June 11, Kookmin will now work with local company Atomrigs Lab, which is active in digital asset protection. The move marks a decisive change of tack for Kookmin, which until recently appeared to have a hands-off stance on cryptocurrency in general. South Korea continues to be a hotspot for cryptocurrency activity in areas such as trading, with mixed regulatory…

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Female Engagement in Bitcoin Hits New High as Adoption Grows

Great news in terms of girl power and the growing number of women in Bitcoin. Female adoption is at an all-time high. Although, it’s still woefully dwarfed by men, who make up over 90%. More Women in Bitcoin Shows Adoption Is Spreading The slice of the pie taken up by women may look a little measly at 9.1%. But, let’s celebrate the small victories. This time last year, women in Bitcoin made up just 3% of all users. The times are definitely changing, despite the lengthy bear market. There may…

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Warren Buffett Will Face ‘All Blockchain Leaders’ At $4.6M Crypto Lunch

Tron CEO Justin Sun will seek help from “all the leaders” in cryptocurrency when he has lunch with infamous Bitcoin naysayer Warren Buffett. Sun: Lunch To ‘Bridge Crypto And Traditional Investors’ Speaking to Yahoo! Finance in an interview June 11, Sun, who paid $4.56 million in an annual charity auction to dine with Buffett, said his own project should not form the sole focus of the meeting. “…We want this lunch to be a bridge between the cryptocurrency community and the traditional investor, so that’s why I will bring all…

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Leaked Details of India’s Supposed New Cryptocurrency Bill Analyzed

Excerpts from what could be India’s new cryptocurrency bill have been leaked. While local media have made outrageous claims about the details of the bill, industry experts have pointed out numerous flaws and inaccuracies. Meanwhile, the country’s finance secretary has confirmed that the crypto regulation is ready to be submitted to the finance minister for approval. Also read: Indian Cryptocurrency Regulation Is Ready, Official Confirms Indian Cryptocurrency Bill The Indian government has been working on a regulatory framework for cryptocurrency for over a year. Last week, Finance Secretary Subhash Chandra…

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