Day: July 17, 2019

Data analysts at Longhash found that Bitcoin’s price action fluctuates most from midnight to 1 a.m. UTC. Could this present an opportunity for day traders?  Does the Early Bird Get the Worm? A recently published report from Longhash found that Bitcoin’s most volatile trading hours occur between midnight and 1 a.m (UTC). The data analytics collective used Crypto Data Download to analyze Coinbase trading data from July 6, 2017, to July 2, 2019. The team observed hourly high and low prices for each hour of each day and then compared…

During the second day of congressional hearings, New York Representative Alexandria Ocasio-Cortez (AOC) grilled Facebook executive David Marcus over Libra’s centralization. The 29-year-old congresswoman went directly at Facebook for calling Libra a decentralized project. She questioned Marcus over the procedure using which they handpicked 27 founding members for the Libra Association, a so-called nonprofit backing Facebook’s cryptocurrency. Realizing that Facebook had installed principal founders using a $10 million investment as one of the criteria, AOC said that the social media giant backed crypto would become “a currency controlled by an…

Bitcoin daily trading volume hit the record high on June 26. However, the indicator is still maintaining the record level in terms of monthly volume. Bitcoin 30-Day Volume Benefits from June High While Bitcoin is heading towards breaking the support level at $9,000, the trading volume is keeping at a decent level. This suggests that bears are strong and the largest coin by market cap hasn’t found its temporary low yet. According to Coinmarketcap historical data, Bitcoin’s trading volume from June 17 to July 16 was 769.8 billion – the…

Bitcoin takes another step toward mass adoption as a Toronto suburb favorably votes to accept Bitcoin for property tax payments. Cash, Credit or BTC? Canadians living in the Toronto suburb of the City of Richmond Hill can now pay their property taxes in Bitcoin thanks to a partnership between the municipality and Coinberry. Coinberry is a Toronto-based crypto-solutions provider and trading platform. Its partnership with the City of Richmond Hill is the second contract the company has inked for processing property taxes. Coinberry’s second client is the Town of Innisfil…

Based on the legal precedence surrounding cryptographic communication, it is highly unlikely that the U.S. government can ban bitcoin. ‘Uncle Sam’ Can’t Shut Down Bitcoin With the storm of attention being paid to Facebook’s Libra project, there has been some talk of whether such attention could spill over to BTC in the form of a government-sanctioned bitcoin ban. On Tuesday (July 16, 2019), redditor ‘MarsWalker69’ opened a thread on the Bitcoin subreddit seeking reasons why the U.S. government can ban bitcoin. In response, fellow redditor ‘nowitsalllgone’ provided legal precedence to…

Grayscale recently released its Digital Asset Investment Report for the second quarter of 2019. The company marks a notable increase in the investment into its products, the majority of which are coming from institutional players.  Institutions Are Here According to the new Q2 report of Grayscale, the company’s assets under management nearly tripled from $926 million to $2.7 billion. The cause of this is the resurgence of the cryptocurrency market which has had a blast in 2019. Per the report, the quarterly returns for industry benchmark products, namely the Grayscale…

Ethereum is gaining significant new attention in China right now, causing some to believe that a 50% surge in price could take place over the rest of the this week. China Ranked #3 for Ethereum Searches A Twitter account by the name of @Journeyto100K_ has picked up on a significant surge in interest around Ethereum recently. According to Data from Google Trends, searches for ‘Ethereum’ have skyrocketed in China over the last 2 days, leading the tweeter to believe that ETH’s price 00 will rocket soon. “I would be surprised…

Over the last 7 days Bitcoin price has plunged from highs of $13,200 to the current market price at $9,300. This drop has resulted in a clear descending channel forming on intra-minute timeframes. Current market price sits at visible range lows, so the question remains as to whether bears have enough control of the market to break the strong support around $9,000? Bitcoin Price Analysis 30 Minute Chart On the 30 Minute chart for BTC we can see the newly formed descending channel that price levels have dropped to over…