Contrary to popular belief, retail investors are still playing a major role in directing Bitcoin’s price action, says Binance CEO in a recent interview with Bloomberg. Who’s Really in Charge? As Bitcoin briefly touched $20,000 in early 2018, market analysts forecasted that the impending arrival of Bitcoin futures products, a Bitcoin exchange-traded fund (ETF), and the infusion of institutional funding would drive Bitcoin towards $30,000 and possibly $50,000. Of course we all know how that story ended, and the start of 2019 has provided a well-needed respite from the 15-month-long…
Read MoreDay: July 13, 2019
Binance Coin Price Analysis: Bulls Eye Reversal on 4-Hour Chart
Since the 13th of June bears have caused Binance Coin to pull-back down from the highs of 0.044 sats down to visible lows around 0.024 sats, resulting in a 45% correction. Short-term timeframes are starting to indicate that a potential reversal could play out over the coming days. BNB/BTC 4 Hour Analysis On the 4 Hour chart for BNB/BTC we can see a wedge has formed around current market price as MACD re-tests median levels for the fourth time during the recently formed down-trend. A small bullish flag has formed…
Read MoreSouth African Payment Gateway Drops BTC Over Fees and Network Congestion
On July 12, South African payment gateway service Payfast announced the company is dropping bitcoin core (BTC) payments due to network congestion and high fees. Payfast emphasized that BTC has a number of limitations and design flaws which makes it an “impractical substitute for cash.” Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments Network Congestion and High Transaction Fees Force Payfast to Drop BTC Support According to a blog post written by Payfast, one of South Africa’s largest online payment gateways, BTC payments…
Read MoreBinance Adds Margin as Exchange Competition Heats Up
This week, the world’s largest exchange by trading volume, Binance, launched margin trading. In doing so, it made the elite group of exchanges that offer crypto derivatives less exclusive than it once was. Binance, Kucoin, and Bitmax have all rolled out margin products this year, in a bid to give market leaders Bitmex and Deribit a run for their money. Also read: Miners Flock to Iran Where Bitcoin Mining Is Set to Be Sanctioned Binance Leverages Margin to Woo the Bitmex Brigade To celebrate its second birthday, Binance has been…
Read MoreA Bumper Bullish Week For Bitcoin
You know those weeks when the world just seems to be on your side. Everything goes right, and even seemingly unrelated events conspire to work out in your favour? Well Bitcoin just had one of those weeks. Bitcoin Gets The Recognition It Deserves One sign that things are going your way is people saying nice things about you. Or renowned figures of ridicule saying bad things about you. Bitcoin had both this week. First, the US Federal Reserve Chairman, Jerome Powell, described Bitcoin as a ‘store of value‘ like gold.…
Read MoreJoe Squawk Could Convince Trump To Become A Bitcoin Supporter
The crypto community is still talking about US president Trump’s bitcoin comments as we enter the weekend. Most are of the opinion that the sentiment is positive while the actual comments may not have been. Bitcoin Negativity Expected Bitcoin is now a household name and even if Donald Trump is not a fan, he has certainly increased the awareness of the nascent industry. Many of the major industry players reacted yesterday with some stating that Trump’s comments were ‘wildly bullish’. CNBC Squawk Box anchor, Joe Kernan, reckons he could convince…
Read MoreThailand Approves 4 New Cryptocurrency Service Providers
The Thai Securities and Exchange Commission has approved four new crypto business operators to legally operate in the country. In addition to licensing a new crypto exchange, the government has officially approved the country’s first three digital token portals. Meanwhile, new rules, conditions, and procedures have been introduced for digital asset businesses. Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments Digital Asset Business Operators Thailand’s Securities and Exchange Commission (SEC) has officially approved four new digital asset business operators. Under the country’s current…
Read MoreGeorgia Exempts Bitcoin From VAT to Become the Next Country to Affirm Its Currency Status
Cryptocurrency taxation is a subject that concerns a growing number of users, traders and investors. An area that creates a lot of confusion among taxpayers is the application of VAT, or the value-added tax most countries levy on the sales of goods and services. Georgia has become the latest nation to free crypto-fiat transactions from VAT, a decision that affirms Bitcoin’s status as a currency. The same has already happened in many other jurisdictions, despite the absence of comprehensive regulations. Also read: Money Laundering Scandals Bring Court Charges and Record…
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