Crypto Markets Turn Bearish as Bitcoin Bulls Weaken

All appears quiet on crypto social media channels today as the China fervor abates and Bitcoin starts losing steam. $5 billion has left the space over the past 24 hours as altcoin losses accelerate and the bears reemerge from the digital woods. Bitcoin Hanging by a Thread BTC is clearly struggling to stay above $9,000 at the moment. Bearish sentiment has returned to crypto twitter and analysts are all painting downward looking charts. The China bulls have run for the hills leaving the bears to feast on those monumental gains.…

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CRYPTOTAG Zeus Starter Kit Review: Is It Worth The Hype?

CRYPTOTAG, a company that specializes in high-end crypto backup solutions, has just launched its new compact Zeus Starter Kit product for serious crypto hodlers. Here at Bitcoinist, we were lucky enough to get our hands on one, and it does not disappoint. Design As with all CRYPTOTAG products, the first thing you notice when you pick up the Zeus Starter Kit is the weight. Even for such a compact design, the quality certainly feels as solid and heavy-duty as the other much larger products in the range. The kit itself…

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What Another Fed Rate Cut Means For Crypto?

For the third time this year, the US Federal Reserve has cut interest rates amid a global economic slowdown. Crypto markets did not react to the news but the outlook for the global economy is darkening as another recession looms. What does all of this mean for crypto though? Third Cut This Year This week the central bank dropped the benchmark federal funds rate by one-quarter point to a range between 1.5% and 1.75% according to reports. At a news conference on Wednesday, Fed Chairman Jerome Powell said he would…

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The Xi Effect – Chinese Government to Fund Blockchain Projects

Chinese President Xi Jinping’s announcement that the country would invest heavily in blockchain technology – coupled with a sweeping move to remove online posts suggesting such technology is a scam – has nourished optimism long-held by crypto advocates. Of course, the reality is that China’s marked shift towards pro-blockchain policies is part of a much wider trend which has seen Asian multinationals and governments embrace the considerable potential of distributed ledger technologies. Also read: China Ranks 35 Crypto Projects as President Xi Pushes Blockchain A Two-Year Turnaround President Xi’s announcement…

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Big Name Announcements Will Not Save Your Blockchain Project

At the peak of the ICO bubble it was a common tactic for project promoters to use big name announcements to pump their tokens. Every day we would hear about a new venture that supposedly signed a partnership with a global brand such as Microsoft or Google, to make us think that these tech giants were backing the idea. In reality most of the time it was just a trivial matter such as allowing the project to use free services from the tech giant, as countless other startups do. The…

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Mining Giant Bitmain Confidentially Files for U.S.-Based IPO

According to reports, bitcoin mining manufacturer Bitmain Technologies confidentially filed for a U.S.-based initial public offering (IPO) with the Securities and Exchange Commission. The news follows the alleged removal of cofounder and executive director Micree Zhan and the recent announcement of a facility in Texas with the capacity to house 300MW of hashpower. Also read: Avalon Mining Rig Maker Canaan Files for $400M IPO on Nasdaq Bitmain Secretly Files for U.S. Initial Public Offering The U.S. Securities and Exchange Commission (SEC) currently has two mining manufacturers to approve for IPO…

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Satoshi’s Final Messages Leave Tantalizing Clues to His Disappearance

As Jameson Lopp once quipped, the smartest thing Satoshi did after creating Bitcoin was to disappear. The question isn’t ‘why did Satoshi disappear?’ but rather ‘why then?’ Was Satoshi’s departure in early 2011 scheduled long in advance, or did unforeseen events compel Nakamoto to pack his bags and flee the community he had founded, never to return? Several credible theories abound. Also read: Why a VPN Is the First Layer You Should Pull On When Browsing the Web Theory 1: It Was Planned All Along Satoshi Nakamoto was a methodical…

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Elon Musk SpaceX IEO Appears On Suspicious LAToken Exchange

Increasingly questionable cryptocurrency exchange, LAToken, is currently listing an IEO purportedly run by Elon Musk for SpaceX. Although this would be many a tech-fan’s dream, closer inspection reveals that this is completely false. No, Elon Musk Is Not Launching A SpaceX IEO The offending Initial Exchange Offering was highlighted in a tweet by Cointelligence CEO, On Yavin. On LAToken’s IEO Launchpad, the relevant page features an embedded YouTube video of the SpaceX Falcon Heavy, along with further details of the IEO. According to @latokens exchange it seems Elon Musk is doing…

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Who Caused the 42% Bitcoin (BTC) Rally?

The Bitcoin rally late last Friday added a dramatic 42% gain to its peak at above $10,000. The days before that saw seemingly disconnected “whale” transactions going to exchanges. Chinese Traders Not the Whole Story But then, the markets were on fire, with the common cause seen as “the Xi Effect”. The recent statement by Chinese president Xi Jinping that the country was taking a pro-blockchain stance, seemed to spark a market rally. The most active traders, however, were not the Chinese, but Western markets, according to research by TokenAnalyst.…

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Argentina’s Example Shows That You Don’t Own Your Money

Cash shortages, bank closures and ATMs running out of funds seems to be the new norm for many countries, and recently increased capital controls in Argentina are further testament to this unsettling trend. Sunday’s election of president Alberto Fernández has resulted in Argentine account holders being limited to USD purchases of $200 via bank account and $100 via cash monthly. As protests continue to mount worldwide, the signs don’t look good for fiat money or the people who hold it. Also Read: Low Interest Rates Are Crushing Young People and…

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