Bitcoin 

Are Bitcoin and Other Cryptos Back in a Bear Market After Latest Drop?

On Nov. 8, Bitcoin corrected from $9,200 to $8,650, causing the market sentiment to shift from greed to fear once more.  The correction came after one of the biggest surges in the history of Bitcoin (BTC), which makes the sentiment shift curious. Let’s take a look at the market overview and analyze the charts. Crypto Market Daily Data View. Source: Coin360 Bitcoin loses 200-Day Moving Average as a key indicator The recent correction made Bitcoin price lose the 200-Day Moving Average (MA), which is a key indicator for many traders…

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Bitcoin 

EOS Holds Top Spot, Bitcoin 11th in China’s Latest Crypto Rankings

China’s state-backed tech workgroup has released its fourteenth crypto rankings report, with Bitcoin (BTC) ranked 11th and EOS (EOS) retaining the top spot as of the end of September 2019. The listings rank 35 assets in total, as reported on Sep. 29 by the Center for Information and Industry Development (CCID)’s online information portal.  Reshuffles Compared with the last instalment of the rankings this July, Bitcoin has held its position while altcoin Tron has dislodged Ether (ETH) from the second spot. XRP is up from 30th to 20th-ranked asset. CCID…

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Cryptocurrency 

BUSD — Binance and Paxos Stablecoin Latest to Get US Regulator Consent

Over the course of the past few weeks, the global cryptocurrency community bore witness to two major announcements related to stablecoins — with the first being the launch of Paxos’s gold-backed Ethereum token, PAX Gold (PAXG), and the other being the release of Binance’s cryptocoin backed by the United States dollar (BUSD).  Paxos, a global digital asset trust firm, announced the launch of its PAXG token via a press release a few days back. In the document, the firm claims that its product is the world’s first crypto asset to…

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Cryptocurrency 

Binance Announces Galileo, the Latest Version of Its Mainnet

Major cryptocurrency exchange Binance has completed an upgrade to its mainnet. The latest iteration is called Galileo — v.0.6.0 — as announced by Binance on July 15. According to the announcement, there are four major changes implemented in Galileo: the matching engine has been revised with “Taker” and “Maker” matching logic, trading pairs on Binances decentralized exchange, Binance DEX, can be delisted, Binance Chain token assets can now be time-locked and state sync options have been enhanced. For Binance DEX, validators can now reportedly make a proposal to vote on…

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Bitcoin 

Kraken Raises Over $13 Million In Its Latest Fundraising Round

San Francisco-based cryptocurrency exchange Kraken has raised over $13 million in financing on online investment platform BnkToTheFuture. Kraken has raised $13.5 million from 2264 investors, surpassing its initial target of $10.2 million purportedly due to popular demand. The fundraising campaign of Kraken — which has over four million clients in nearly 200 countries — is the most successful funding round by individual contributors on BnkToTheFuture. As previously reported, Kraken raised over $6 million in the first day of the campaign from almost 300 investors. On BnkToTheFuture, Kraken describes itself as…

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Cryptocurrency 

Japan Hopes to Set Global Crypto Law Benchmark With Latest Regulatory Update

On May 31, the Japanese House of Representatives amended two cryptocurrency-related laws, the Payment Services Act and the Financial Instruments and Exchange Act, which will come into effect in April 2020. Most Japanese crypto exchanges have welcomed the changes, since they expect more institutional investors to join the crypto industry. However, others voiced their concerns that the changes may bring some uncertainty to custodians and wallet service providers. The two documents outline several specific changes, which can be discussed separately. The Payment Services Act (PSA) Virtual currency to crypto assets…

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Bitcoin 

Bitcoin Breaks $9,000 In Latest Landmark Price Point

Thursday, May 30 —  in the latest milestone of its renewed bull run, bitcoin (BTC) today broke past $9,000, soaring to its highest price point in over a year. Most of the top 50 cryptocurrencies are seeing solid green, as Coin360 data shows. Market visualization courtesy of Coin360 Bitcoin broke the psychological price point of $9,000 earlier today, hitting a high last seen in early May 2018. To press time, the top coin is up 1% on the day and is trading at $8,802, according to CoinMarketCap data. In recent…

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Bitcoin 

Bitcoin Has Soared Above Intrinsic Value During Latest Rally, JPM Strategists Claim

Strategists from United States banking giant JPMorgan Chase (JPM) have argued that bitcoin (BTC)’s recent rally has ostensibly soared past what they calculate to be its intrinsic value. Their analysis was reported by Bloomberg on May 20. The strategists — who reportedly include JPMorgan global market strategist Nikolaos Panigirtzoglou —  judge that the top coin has recently been trading in a way that mirrors its late 2017 rally, which preceded a protracted price slump. To ascertain the coin’s intrinsic value, the strategists reportedly analyzed bitcoin as a commodity and calculated its…

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