Month: November 2019

Even with the recent correction, Bitcoin market prices are at a moon-like level in comparison to prices just eight years ago. Back in 2011, BTC was a niche asset with trading just starting off, conquering the $1 for the first time, after climbing from a few cents. BTC Crashed 94% in 2011, Still Brought Astronomical Returns to Holders The returns for the money invested in Bitcoin across all bull and bear markets have been extremely high. Some periods were extremely profitable, especially when taking into account the bear market in…

China’s recent crackdown on cryptocurrencies may have caused Bitcoin whales to move huge quantities of BTC.  China’s recent praises of blockchain technology do not seem to extend to Bitcoin and cryptocurrencies, as the country’s central bank launched another crackdown on crypto. The People’s Bank of China warned that ‘illegal actions’ involving digital assets would not be tolerated, and noted that investors should not mistake crypto with blockchain. Only hours after the move, a Bitcoin whale made their move in a single, massive transaction. Bitcoin Whale Moves Over $300 Million in…

During a movie piracy setup crackdown, Hamilton Police seized $6.7 million in cryptocurrency from a software programmer.  According to recent reports, law enforcement officers in Hamilton, New Zealand successfully arrested a 31-year old programmer and movie pirate Jaron David McIvor. During the arrest, the police also managed to seize around $6,7 million worth of crypto — as well as $1.1 million in bank funds. The arrest comes as a result of an investigation into online movie piracy. As per reportings, McIvor’s residence did not have much stored wealth, despite major…

The Bakkt Bitcoin (BTC) futures set a daily trading record, just as the leading coin crashed from $8,000 to under $7,000 within a 24-hour period. Bakkt Activity Shot Up on Day of Rapid Losses for BTC Activity shot up on the Bakkt exchange, from the usual daily interest above 1,400 traded contracts. Open interest exceeded the equivalent of $1.75 million. Daily summary of Friday’s Bakkt Bitcoin Monthly Futures: Traded contracts: 2728 ($20.30 million, +66%) (New ATH ) All time high: 2728 (11/22/2019) Open interest: $1.75 million (+29%) Follow @BakktBot for…

The Ethereum (ETH) network still experiences random days of congestion. This led to transactions requiring significantly high fees, as much as $30. High Competition for Some Blocks Led to Exorbitant Fees Transaction fees for sending ETH rose to as high as $30, on separate anomalous blocks, users reported. The spike in fees was random and rare, with current fees returning below $0.10. 1/ Just tried to make an Ethereum transaction and suggested fees were over $40. Looks like mean block fees shot up to over $30 for some blocks earlier…

Binance CEO, Changpeng Zhao, stated on Twitter that the exchange would sue The Block for false news reporting pertaining to a Chinese ‘police raid’ on the exchange’s Shangai office. The Block’s recent report claimed that Binance’s China office got raided by the police, which never happened according to the exchange’s CEO. Now CZ called out the crypto media outlet on Twitter, demanding an apology for the egregious mistake. Instead of apologizing to the community for the fake headline news of the non-existent “police raid”, which damaged our reputation, and $btc…