Bitcoin has continued its cataclysmic November, with price dropping further overnight to levels not seen since this May. Although it is little consolation, it never hurts to examine potential reasons following a crash, so without further ado… 1. BitMEX Dumping On The Market Yes, we’ve said it before, but that doesn’t make it less true. One entity that gains whichever way the market goes is BitMEX. Liquidated positions on the futures exchange lead to huge fees collected, which BitMEX has no qualms about dumping straight back onto the market. According to…
Read MoreMonth: November 2019
Libra Testnet Fails to Impress as New Legislation Looms
A November 15 blog post by Libra project developers detailing testnet developments has apparently failed to impress government regulators and influential voices in the space alike. CEO of blockchain company R3, David Rutter, commented at a London conference last week that “what they did was ridiculously stupid,” going on to call the announcement and approach of the project “naive.” The U.S. Congress is concerned as well, with members proposing a new bi-partisan bill Thursday, which seeks to classify the asset as a managed stablecoin security. Also Read: Paypal CEO Admits…
Read MoreThai SEC Mulls Tweaking Existing Crypto Regulations to Boost Growth
Asian nations such as Thailand are wasting no time in preparing their economies for a future that involves crypto assets. China is full steam ahead on blockchain technology, and Thailand is making plans to open up further to the digital asset industry with amendments to existing regulations. Paving The Way For Thai Crypto Industry According to reports in local media today, Thailand’s Securities and Exchange Commission plans to amend its digital asset business regulations next year. The overall aim is to facilitate the growth of crypto assets while protecting investors…
Read MoreHow Bitcoin Applies to The Sovereign Individual Thesis
Just before the internet became a massive display of human ingenuity and networking, a few individuals anticipated the emergence of tools that would help progress the end of politics and the nation states. 22 years ago, much like Nostradamus, Isaac Newton, Gerald Celente, and Carl Jung’s forecasts, a book called “The Sovereign Individual” predicted the growing autonomy of the individual but also noted the development of the world’s largest economy flourishing in cyberspace. Also read: Bitcoin Is a Viable Way to Remove the State From Your Life Cryptologic Methods Will…
Read MoreBitcoin Outperformed 85 Percent of Top 50 Altcoins YTD
Bitcoin outperformed 85% of the top 50 digital coins and tokens based on market capitalization. Altcoins also split ways, with a handful of top assets surviving, with smaller coins and tokens virtually disappearing. Bitcoin Bets Also Faced Volatility in 2019 BTC at one point had grown more than 400% between the market bottom and the June-July top. Even at $7,200, where the recent slide ended, the coin brought significant gains to recent buyers. ALT/BTC pairs since bitcoin peaked on June 26th (top 10). pic.twitter.com/kVSVVI8VZS — Ceteris Paribus (@ceterispar1bus) November 23,…
Read MoreNew Siberian Bitcoin Mining Farm is Russia’s Largest
BitRiver, the newly launched mining farm in Siberia, is now Russia’s largest bitcoin (BTC) mining facility. Mining billionaire Oleg Deripaska’s venture is already attracting large-scale clients, reports Bloomberg. Bitcoin Mining Farm Churns out BTC with Hydroelectric Power Deripaska has combined BTC mining and a data center with one of the largest Soviet-era aluminum plants. The power-hungry business of running a data center transformed the former industrial city of Bratsk into one of the largest post-Soviet data centers. Russia is a hotspot of crypto activity, supplying both developers and amateur miners.…
Read MoreAfter Blockstack’s Regulated Offering, Where Now For US Token Sales?
When Blockstack announced the first Reg A+ token sale, many believed it would open the floodgates for a spate of similar offerings. Reg A+ has long been the Holy Grail of token offerings in the U.S., with a host of companies pursuing the only SEC exemption that allows the inclusion of unaccredited investors. Despite Blockstack winning significant praise and plaudits for securing the exemption where so many had failed, and despite the hope that others would follow where Blockstack has led, the predicted stampede of new Reg A+ offerings has…
Read MoreSunday Digest: Bitcoin Price and Other Crypto News
Tesla launched its pick-up truck with a bang this week, and then a crash, as its windows were smashed in a demonstration to show that they were unbreakable. Tesla has still received 150,000 pre-orders, despite the gaffe, although the company does not currently accept direct payment in Bitcoin. Bitcoin Price Well, there hasn’t been a lot to cheer about when it comes to bitcoin price this week. Gains made in the last month were steadily trickling away, until Thursday, when they started to gush. Price fell below $8k for the first…
Read MoreDespite Market Turbulence, Bitcoin’s Support Lines Remain Intact
Technical analysis of price trends is a topic ever electrifying the world of crypto investment with, dynamic debate on social media and beyond. While there are no guarantees, there are fundamental methods for looking at data which can provide valuable insights, such as analysis of price support lines and resistance, as well as proposed approaches for making the most of bear markets such as the Mayer multiple. Also Read: Bakkt’s Bitcoin Futures Shatters Records Amid Spot Market Turmoil Support and Resistance “The voyage of the best ship is a zigzag…
Read MoreSurvey: 58% of German Banks Charge Negative Interest Rates
Germany’s central bank, the Deutsche Bundesbank, has conducted a survey of banks charging negative interest rates on customer deposits. Some are charging retail customers as well as corporate clients. An independent price comparison portal shows which banks are currently charging for deposits and how much they are charging. Also read: 23 Central Banks Divulge Their Digital Currency Requirements Central Bank Survey A growing number of German banks are passing on the burden of negative interest rates to their customers as the European Central Bank (ECB) continues to maintain a negative…
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