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https://www.coindesk.com/bitcoin-drops-back-to-5k-support-after-failed-breakout-2Bitcoin (BTC) has fallen back to support at $5,000 after a failed breakout Wednesday. The number one cryptocurrency by market valuation made a strong bullish break from an ascending triangle pattern yesterday evening at 18:00 UTC, reaching a peak of $5,488 on the Coinbase exchange. However, that move was quickly rejected and an increase in selling pressure on today’s open laid the pathway for bitcoin to slide, first to $5,200 overnight, then quickly to $5,018 soon before press time.
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https://www.ccn.com/moon-brian-kellys-jaw-dropping-bitcoin-price-predictionPay no attention to today’s pullback in the crypto markets. With the bitcoin price expanding as much as 30% in April so far to hover above the $5,000 level, it’s brought out the perma-bulls. Crypto fund manager Brian Kelly is among them. Now that bitcoin is seemingly back from the abyss, he is no worse for the wear from the crypto winter. In fact, he’s returned with his boldest prediction yet — the bitcoin price will surpass its previous high of nearly $20,000. But you’re going to have to wait for it. Kelly on CNBC suggests a new peak for the bitcoin price is a no-brainer, saying in response to a question about whether we’ll see record highs: “Without question this next cycle. You’re talking probably a two-year cycle.” There’s a method to his madness. Kelly points to the upcoming halving of the bitcoin supply, which is planned for 2020.
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https://www.coindesk.com/new-york-rejects-bittrex-exchanges-bitlicense-applicationThe New York Department of Financial Services rejected Seattle-based crypto exchange Bittrex’s application for a BitLicense Wednesday. In a letter published by NYDFS, the NY regulator explains that a number of factors contributed to the rejection, the first such action in two years. “Throughout Bittrex’s application process, the Department worked steadily with Bittrex to address continued deficiencies and to assist Bittrex in developing appropriate controls and compliance programs commensurate with the evolving nature of the sector,” wrote Daniel Sangeap, deputy superintendent and deputy counsel at NYDFS. The regulator “issued several deficiency letters” since the exchange first submitted an application, addressing Bittrex’s anti-money laundering procedures, Office of Foreign Assets Control compliance and its coin listing process.
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Bitcoin Futures Exchange Bakkt Hires PayPal, Google Vet as Product Chief Bitcoin futures exchange Bakkt has hired a PayPal and Google veteran as its new chief product officer. The firm announced Thursday that it had hired Mike Blandina, who at various points in his career served as head of payments and credit engineering at PayPal and director of engineering for Google Wallet. Most recently, Blandina was chief technology officer and head of product and engineering at OneMarket, Bakkt CEO Kelly Loeffler wrote in a blog post. “As our CPO, Mike will lead our efforts to converge a trusted ecosystem for digital assets with payments use cases, two elements of Bakkt that help bring real world applications to bitcoin and other cryptocurrencies,” she wrote. https://www.coindesk.com/bitcoin-futures-exchange-bakkt-hires-paypal-google-vet-as-product-chief |
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The Takeaway: * A draft proposal from China’s economic planning commission labels bitcoin mining as an industry that needs to be “eliminated.” But even if finalized in its current form, this would not automatically amount to an outright mining ban. * While local governments are supposed to follow the commission’s guidance, to take action against an industry they need a basis in the laws of the state, not industrial policy. * Further, there are past examples of “undesirable” industries that were eventually recategorized because phasing them out was found to conflict with local interests. * Seizing on this, miners are arguing that eliminating their industry would also conflict with local interests, in part because they soak up excess electricity that would otherwise go to waste. https://www.coindesk.com/chinas-new-policy-isnt-an-automatic-bitcoin-mining-ban-heres-why
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Crypto trader Mike Novogratz fails to see the value in Litecoin. Novogratz, who is at the helm of crypto merchant bank Galaxy Digital, blasts Litecoin’s size and in doing so seems to comes across as threatened by the fifth-biggest cryptocurrency. The Litecoin price has seen its value expand by 40% in April alone, gains that if you ask Novogratz would be better served by bitcoin. The former Fortress hedge fund manager capitalized on Litecoin’s reputation as being digital silver to bitcoin’s gold, comparing the size of the respective precious metal and crypto markets. While silver’s market cap is a mere fraction of gold’s, Litecoin’s value is more than 6% that of bitcoin. https://www.ccn.com/litecoin-glorified-testnet-for-bitcoin-mike-novogratz |
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The bitcoin cash (BCH) price endured a significant correction on Thursday as the fifth-largest cryptocurrency dropped 10.7-percent from its session high. Top Cryptocurrencies Pull Back from Recent Highs The BCH-to-dollar rate had surged around 100-percent since Monday morning, leaving its top rival bitcoin behind in terms of overall gains. The pair extended its rally towards $341.66 after the US market open yesterday. Later, it corrected to circa $280 in just two hours – its intraday low. The next BCH flight was not much impressive, as it recovered a mere 8-percent against an overall 22-percent downside correction. As of 16:30 UTC, bitcoin cash was trading at $285.37. Crypto exchanges posted BCH volumes worth about $3.89 billion, calculated in real-time per a 24-hour adjusted timeframe. Tether’s stablecoin USDT seized a majority of BCH spot trades, followed by South Korean Won and bitcoin. https://www.ccn.com/bitcoin-cash-price-drops-10-7-has-the-massive-crypto-rally-stalled |
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As the bitcoin price slightly retraced below $5,000, the valuation of the crypto market dropped by $9 billion in the past 24 hours. However, based on technical indicators, analysts remain convinced that the $5,000 to $6,000 range will be broken by bitcoin in the near-term and $7,000 is the next reasonable step for the dominant cryptocurrency. The valuation of the crypto market dropped by $9 billion but in the past seven days, even with today’s drop, the market has added $28 billion.
Why $7,000 For Bitcoin?According to technical analyst Todd Butterfield, the bitcoin price is likely to gradually climb to the $7,000 resistance level in the months to come, possibly by the end of May. The analyst presented positive indicators shown by Elliot Waves, which show that with several minor retracements and small rallies, the asset is en route to reach the $7,000 mark by the second quarter of 2019. https://www.ccn.com/bitcoin-analysts-bullish-technicals-breach-7000 |
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Despite the 82 percent drop in the valuation of the crypto market in the past year and the inability of bitcoin to recover beyond $4,000 in the past three months, one analyst sees the dominant cryptocurrency surpassing $150,000 by 2023. Josh Rager, a cryptocurrency technical analyst and investor, said that based on the price trend of bitcoin since 2011 and the pattern of bitcoin rebounding from a correction following an all-time high, he sees bitcoin achieving a new peak price in 2,051 days, by 2023. The next Bitcoin cycle should peak out in July 2023 and could reach a price at $150,000 or more per Bitcoin Cycle Peak Prices: 2011: $31 2014: $1,177 2017: $19,764 2023:  ($150,000+ projected) 10:51 PM - Mar 31, 2019 - twitter: https://twitter.com/Josh_Rager/status/1112472531049553920https://www.ccn.com/bitcoin-150000-2023-next-cycle-analyst |
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Global debt now stands at a terrifying $243 trillion according to a report by the Institute of International Finance this week. That’s quarter of a quadrillion. We’re in the realms of the absurd. This is unsustainable. And it’s the fault of a broken and irresponsible monetary system, addicted to printing money and issuing credit. It’s time to admit we need a new alternative. While it’s far from perfect, bitcoin offers a viable solution with its fixed supply and regulated output. It’s time for a revolution. $243 Trillion Debt BombThe record figure stands at three-times the world’s total gross domestic product (GDP). In other words, it’s three times larger than the value of all products and services on the planet. The figure peaked in the first quarter of 2018 when it hit $248 trillion. It has since fallen back slightly. The US is among the biggest offenders. As CCN reported, total US national debt hit $22 trillion this year. https://www.ccn.com/terrifying-243-trillion-global-debt-bomb-is-a-disaster-only-bitcoin-can-fix |
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This week is looking to end on a positive note for bitcoin, as the cryptocurrency clawed its way above $4,100, adding $1 billion to its market cap in the process.
Bitcoin Price Cracks $4,100 as Bullish Sentiment GrowsThe bitcoin-to-dollar rate established an intraday high at $4,103, up 2.24-percent since Friday’s opening price. The session peak also marked bitcoin’s highest mark since February, leading many to believe that the cryptocurrency was finally breaking out of its prolonged bearish bias. The shift in sentiment has been building since bitcoin’s sharp reversal from the $3,100-3,200 range last December, which recovered the asset’s price by as much as 34.23 percent. Nevertheless, the upside push looked attractive only from the intraday perspective, for it lacked the volume required to declare a breakout action. We covered our view elaboratively here, discussing three converging bearish factors that could withhold bitcoin gains from flourishing any further. https://www.ccn.com/this-bitcoin-price-rally-is-masking-a-serious-problem |
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Bithumb, the exchange recently hacked last week to the tune of around $20 million, sent out an e-mail this morning asking customers to cease making deposits until further notice. The exchange reiterates its claim that no customer funds are lost. Instead, the request is to help investigators. It reads, in part: We would like to ask you to stop making deposits of cryptocurrency in order to check our member’s assets through external organization and to cooperate with the investigating agency in connection with an accident that is supposed to be an internal embezzlement that occurred on March 29th. Inside Job is a Centralized Concern“Internal embezzlement” is the fundamental risk with centralized exchanges, of course. Just as banks and armored vehicles are never entirely safe, keeping millions of dollars within reach of humans will always present the risk of fraud. In this case, the attacker, who is roundly believed to be a Bithumb employee, chose not to take from the customers. But it’s certainly imaginable that he or she could have. https://www.ccn.com/hacked-bitcoin-exchange-bithumb-tells-traders-to-halt-deposits |
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Tron (2010) is my favorite movie what's yours?
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Where are the real bikers or even sport bike fans? I know there are several sport bikes out there from Ducati to Honda, Kawasaki, KTM, and many more. Which one among the world's renown superbikes is your dream bike?
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Is Ripple XRP a good altcoin to invest into? Recently, XRP gained nearly 50% of it original value. Is it a good idea to invest in to ripple maybe there is a chance the value of XRP will get to 100% or more.
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I just want to ask for the best bitcoin wallet for the beginners. I mean the bitcoin wallet that is user-friendly, easy to use and also very secure because I don't want to risk my coins just because of simplicity.
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I know there are several sport cars out there from Ferrari to Pagini, Nissan GTR, and Mercedes AMG sport. So which among the following is your dream car?
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I've been hearing many versions of stories of the world's largest crypto-ponzi scheme ever called BitConnect Coin BCC. Would you like to share your own story or what you know about Bitconnect coin?
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Which one among these two highly anonymous coins is more reliable, efficient, more secure to use. in fact, which one is your take and why?
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Binance CEO: ‘I Don’t Understand Why the Bitcoin Price Isn’t Shooting Through the Roof’ Changpeng “CZ” Zhao quietly offered a utopian forecast for the cryptocurrency industry and his ubiquitous cryptocurrency exchange, Binance–which he revealed is becoming increasingly institutionally oriented and will launch five to 10 fiat-to-crypto operations in nearly every continent. Speaking at Consensus Singapore, the Binance chief whip suggested that the regulatory breakthroughs seen last week have now provided an onramp for institutional entrance to cryptocurrency and that the market may have greener pastures ahead. Zhao was presumably giving the nod to Gemini’s new regulated stablecoin and BitGo’s approval to operate as a qualified custodian, both of which have been widely heralded as pivotal pieces of infrastructure for institutional participation in cryptocurrency. He stated: “Custodian solutions, insurance, are very important, and stablecoins are very, very important—actually all of those things happened in the last week—I don’t understand why the Bitcoin price isn’t shooting through the roof.” Where such comments would seem bullish, the Chinese-Canadian billionaire noted that price predictions were not his forté—a foreseeable disclaimer, given his position as chief executive of the world’s largest cryptocurrency exchange by daily volume. Zhao did go on to offer a data-driven bull flag of sorts, explaining that Bitcoin has exhibited unrelenting growth on weekly, monthly and yearly time scales. There may be little certainty found in Zhao’s obligatory projections; however, the executive explained at length Binance’s devotion to fueling market growth. Continue @ https://cryptoslate.com/binance-ceo-i-dont-understand-why-the-bitcoin-price-isnt-shooting-through-the-roof/ |
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