Month: July 2019

Bitcoin is not the asset of crypto experts and blockchain enthusiasts anymore. It is slowly but steadily infiltrating into the pop culture, with many sportsmen, actors, singers, media persons, and politicians discussing it. Celebrities Endorsing Cryptocurrency Many celebrities are sharing favourable opinions about the oldest cryptocurrency out there. One of the reasons is that they have benefited from the coin’s bullish rallies on different occasions. Last year, Rapper Soulja Boy boasted about his BTC gains in a track titled just like that – “Bitcoin.” Actor Hugh Laurie, who gained popularity…

Everyone wants to know what direction bitcoin prices will go next. Crypto analysts are constantly scrambling to find new technical indicators to give them the heads up but new data suggests there could be other influences that are affecting the price too. Bitcoin Store of Value or Speculation Vehicle? Analysis of different trading patterns around the world could offer insights as to what direction bitcoin prices will take next. That is according to new research from crypto-centric financial data firm, Digital Assets Data. BTC prices are currently up 170% since…

New Jersey resident William Green faces up to 5 years in prison and a $250,000 fine for selling $2 million worth of Bitcoin online. The Justice Department Lays Down the Hammer On Wednesday the U.S. Department of Justice charged a 46-year-old New Jersey man with running an unlicensed Bitcoin exchange. William Green of Monmouth County New Jersey is alleged to have operated Destination Bitcoin, a website that allowed users to turn fiat into cryptocurrency. According to the New Jersey Attorney’s Office, Green processed more than $2 million in cash and…

Verifying the existence and value of digital-assets in the custody of various crypto-businesses just got a bit easier thanks to a unique cloud-based auditing system created by Grant Thornton LLP.  System Audits More than $10 Billion worth of Crypto in 3 Months During the first three months of 2019, auditing firm Grant Thornton LLP audited more than $10 billion worth of crypto assets. According to the firm, the audits encompassed 40 different cryptocurrencies spread across 100 million addresses. As the cryptocurrency sector continues to expand, companies are confronted with the…

The Chicago Mercantile Exchange (CME) claims its bitcoin futures has hosted $70 billion worth of trading volume since its inception. The derivatives marketplace said in a tweet Wednesday that it traded over 2 million contracts – which equals more than 10 million bitcoins – from December 2017 until July 21. It believably attracted clients as interest in bitcoin climbed higher after its 200 percent climb this year. That also coincided with the decision of Chicago Board Options Exchange (Cboe) – a competition –to stop offering bitcoin futures contracts. Volume update: As of…

Since the 10th of July price levels have broken down out of the ascending channel as mentioned in my previous analysis to key support around $190. Ethereum price looks poised for a reversal at this key level as we near the month of August. Ethereum Price Analysis 4 Hour Chart On the 4 hour chart for ETH/USD we can see the breakout from the ascending channel on the 10th of July that has resulted in a 15-day downtrend. 50 MA appears to have caught up with the current market price…

The latest decentralized finance (DeFi) aims at creating new business solutions built on distributed, permissionless networks. A Binance Research study shows that DeFi has grown spectacularly in less than a year. Ethereum-Based Defi Apps Are Worth over $500 Million On June 6, 2019, Binance Research released a study focusing on platforms and lending and borrowing protocols that intend to radically change the financial industry, such as DeFi. Researchers define DeFi, as follows: An ecosystem comprised of applications built on decentralized networks, permissionless blockchains, and peer-to-peer protocols for the facilitation of…