Initial coin offerings have seen a significant decline in popularity, but they are not to be written off completely. Although you don’t hear the term “ICO” so often nowadays, some recent regulatory developments indicate they have a place in the digital economy realm. Crowdfunding through token sales has a chance of becoming a mainstream instrument for raising capital. Also read: The Next Big Financial Meltdown Is Around the Corner, Many Voices Warn Germany’s Financial Regulator Approves €250M Coin Offering As if to prove coin offerings are not a dying genre,…
Read MoreMonth: July 2019
Market Outlook: Crypto Prices Consolidate as Economic Uncertainty Looms
Digital currency markets have been meandering sideways for a few days as most of the top crypto prices have been consolidating. Some traders believe there will be a big bullish rise after the current slump, while others think crypto prices may sink even lower. Amidst the crypto market uncertainty, economists worldwide are predicting a great recession looming in the backdrop. Also Read: 10,000 American Cryptocurrency Owners Will Receive Warning Letters From the IRS Persistent Consolidation On Sunday, July 28 the entire market capitalization of digital assets is around $263 billion…
Read MoreUnbanked for Buying Bitcoin: How the Financial System Criminalizes Crypto
When we think of the unbanked, we envisage citizens of developing nations who lack the means and documentation to obtain access. But you don’t have to be a Mongolian goat herder to find yourself financially excluded. In the West, relatively affluent citizens are having their banking services withdrawn suddenly and without warning. Their ‘crime’? Buying and selling bitcoin. Also read: 10,000 American Cryptocurrency Owners Will Receive Warning Letters From the IRS A 20-Year Banking Relationship Broken by Bitcoin Banks, like politicians, are a necessary evil. Few people wax lyrical about…
Read MoreWeekly Digest: Bitcoin Price Inaction, India Ban, and Sanction Busting
The United Kingdom gained a new Prime Minister this week, voted for by Conservative party members. But will Boris be bad for Bitcoin? Or perhaps cause prices to rise? Maybe Boris isn’t the answer to all our questions and we should be looking elsewhere… like the rest of the weeks news, for instance. Bitcoin Price: Down But Not Out It would be hard to argue that bitcoin has had a great week price-wise, but neither has it been a total disaster. According to many analysts, the longer time spent in consolidation, the…
Read MoreFive of the Most Important Use Cases for Cryptocurrency
Crypto assets have come a long way since Bitcoin. What started out as a P2P payment system has spawned an array of use cases that extend far beyond the original designation of cryptocurrency. While the primary function of crypto assets such as ETH and BTC is a matter of some debate, what’s indisputable is that digital currencies can now be used for more than merely paying for goods and services. Here are five use cases for crypto assets that demonstrate the extent of the fintech revolution taking place. Also read:…
Read MoreBitcoin Price Analysis: BTC Plummets Towards $9k Support
Bearish divergence as mentioned in my previous analysis on Bitcoin has successfully played out over the last 24 hours, resulting in price levels plummeting towards $9,000 support. Bitcoin 30 Minute Chart Analysis On the 30 Minute chart for XBT/USD, we can see the three higher highs price action has developed over the last week. A clear break-down has taken place within the last few hours to complete the bearish divergence. It’s likely price levels will continue to drop further and test $9,000 support over the coming days. There’s clear rising…
Read MoreBtc.top CEO Highlights the Benefits and ‘Golden Mean’ of Bitcoin Cash
On July 23, the CEO of Btc.top, Jiang Zhuoer, debated Nchain’s chief scientist Craig Wright in regard to the civil war between BCH and BSV that took place in November. Amid the debate hosted by Bitkan, Zhuoer highlighted the top three advantages tied to the Bitcoin Cash ecosystem. During the dialogue, Zhuoer also emphasized that the infrastructure Satoshi Nakamoto left behind is very advanced and can “achieve very high performance” rate using the BCH network. Also Read: SLP Developers Publish Specs for a Unique Type of Non-Fungible Tokens Btc.top CEO…
Read MoreTom Lee Expecting Bitcoin Bull Run as USD Weakens
Bitcoin has been consolidating for most of the week, range bound between $10.2k and $9.6k. The monthly trend is still down but some industry experts foresee renewed action this weekend as fundamentals in the US could play a part. Bitcoin Back Over Five Figures BTC has made a few gains to keep it back about five figures, but only just. From an intraday low of around $9,700, BTC spiked in another ‘Bart like’ pattern back up to reach $10,230 where the 200 hour moving average sits. Tradingview charts show a…
Read MoreBitcoin Boosted By Boris and Brexit
This week saw a new prime minister take over the helm in Britain. Boris Johnson has been handed the unenviable task of guiding the UK through Brexit, coincidentally the economic unrest has caused a spike in the interest for bitcoin according to Google. Bitcoin Searches Spike Ahead of Brexit Google searches have risen to their highest levels in England for a year according to reports. The term ‘bitcoin’ has generated more interest on Google Trends recently as Britain barrels towards a long awaited exit from the European Union. Fresh in…
Read MoreU.S. Tax Collector Is After Thousands of Bitcoin Holders
U.S. tax authority, the Internal Revenue Service (IRS) has already begun sending letters to thousands of bitcoin and crypto holders who have failed to report cryptocurrency transactions. The IRS letters include instructions to pay taxes, interest, and penalties. IRS: Review Tax Filings to “amend past returns and pay back taxes, interest, and penalties.” The IRS started sending educational letters to taxpayers in mid-July 2019. The agency estimates that by the end of August 2019, more than 10,000 taxpayers will receive these letters. On July 26, 2019, IRS through Statement R-2019-132…
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