Tag: Markets

One Month Later, Which Crypto Is Winning the Bitcoin Cash Split?

BITCOIN CASH, Coin Desk
One month has officially passed since the bitcoin cash blockchain underwent a hard fork on November 15, resulting in the creation of two distinct networks. They’re now commonly referred to as Bitcoin Cash ABC and Bitcoin SV. Yet in the weeks that followed the mid-November fracture, there is still no favorite in terms of overall price. Bitcoin cash is designed in such a way that, every six months, its users must ‘fork’ the blockchain and adopt a software upgrade with changes determined by the project’s open-source software developers. If the developers and miners reach consensus as to what the upgrades should be, the main chain stays intact and simply adopts the software upgrade known as a ‘soft fork’. All bitcoin cash forks had fallen under the ‘soft’ category, but circumstances were di

When There’s Blood in the Street (Why It’s Not Quite Time to Be Long Crypto)

BITCOIN, Coin Desk
Timothy Enneking is the founder and the primary principal of Digital Capital Management, LLC (DCM). ——————- Two members of the Rothschild family are credited, perhaps incorrectly, with the (in)famous quote regarding investing: “When there is blood in the street” (James in the mid-19th century and Nathan, after the battle of Waterloo). The family has been one of the richest in the world for over 200 years, so there’s something to be said for following the advice of its members… In the crypto space, therefore, the question becomes, Is there enough blood in the streets now that it’s the time to buy? I would argue no. Or, more precisely, not quite yet. The basis for this conclusion is the past behavior of bitcoin (which, for the purposes of this article, I will use as a proxy for the entire
Ethereum-Based Chat Platform Lays Off 25% of Staff Due to Crypto Market Decline

Ethereum-Based Chat Platform Lays Off 25% of Staff Due to Crypto Market Decline

COINTELEGRAPH, CRYPTOCURRENCY, ETHEREUM
Ethereum (ETH)-based chat platform Status is laying off 25 percent of its staff due to the recent cryptocurrency market decline, according to a post published Dec. 11.Founded in 2017 in Switzerland, Status is an open source Ethereum-based mobile app that enables its users to chat, transact, and access decentralized applications (DApps).In the announcement, the startup's co-founder Jarrad Hope said that Status is “much larger than we can sustain” in the environment of the declining market, wherein the company was not prepared for scenarios of ETH dropping over 80 percent since August.“This was compounded by not having solid banking partners due to the difficulty in opening banking accounts for crypto projects until Q2 of this year, and have been hedging since then accordingly,” the announce
Blockchain Incubator Binance Labs Releases First ‘Batch’ of Blockchain Projects

Blockchain Incubator Binance Labs Releases First ‘Batch’ of Blockchain Projects

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY
Binance Labs, the venture wing of the largest cryptocurrency exchange Binance, has released its first “batch” of blockchain projects from its Incubation Program, according to a press release shared with Cointelegraph on Dec. 14.Binance Labs is an initiative that seeks to help early-stage blockchain and digital assets projects and entrepreneurs through direct investments and technical assistance. The Binance Labs Incubation Program is an onsite program that was launched in August 2018.Following a try-out tour with over 500 applicants, Binance Labs selected only eight projects, each of which received $500,000 in seed funding and access to necessary resources and mentors. Over the course of the 10-week program, seven projects have shipped working products and signed on users, while three of t
Bitcoin to Be Worth ‘Great Deal More’ in Three Years, Circle Co-Founder Says

Bitcoin to Be Worth ‘Great Deal More’ in Three Years, Circle Co-Founder Says

BITCOIN, COINTELEGRAPH, CRYPTOCURRENCY
Jeremy Allaire, co-founder of crypto finance company Circle, told CNBC in an interview Friday, Dec. 14, that Bitcoin (BTC) will be worth “a great deal more” than it is now.When asked about the Bitcoin price in three years, Allaire told Squawk Box host Andrew Ross Sorkin that he does not make “significant price predictions,” while adding, “I think it is certainly going to be worth a great deal more that it is today.”Allaire also stated that while Bitcoin is attractive as a non-state store of value, a slew of other tokens will enter the space, and the bases of their valuations will be diverse. He further explained:“I do not think it's a winner-take-all [situation]. We have the phrase ‘the tokenization of everything,’ and we think cryptographic tokens are going to represent every form of fina
Bitcoin Cash Tanks 13 Percent as Major Cryptocurrencies All Fall Hard

Bitcoin Cash Tanks 13 Percent as Major Cryptocurrencies All Fall Hard

BITCOIN CASH, COINTELEGRAPH, CRYPTOCURRENCY, ETHEREUM
Friday, Dec. 14 — Bitcoin Cash (BCH) led fresh losses across cryptocurrency markets as investors in the top twenty assets by market cap shouldered new lows.Market visualization from Coin360Data from Cointelegraph’s own price index, Coin360 and Coinmarketcap painted a gloomy picture at press time Friday, with Bitcoin (BTC) dropping about 3.5 percent in 24 hours.Having staved off a move below last week’s current “bottom” around $3220, BTC/USD has failed to find support much higher, now circling $3300 to cap almost 50 percent monthly losses.Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price IndexWorries over the fate of a Bitcoin exchange-traded fund (ETF) gaining United States’ regulators’ approval in February have combined with uncertainty over when the 2018 bear could end to li
Bitcoin Price Defies Oversold Conditions to Hit 15-Month Low

Bitcoin Price Defies Oversold Conditions to Hit 15-Month Low

BITCOIN, Coin Desk
Bitcoin (BTC) tumbled to 15-month lows earlier today, dashing hopes of a rally signaled by current extreme oversold conditions. The world’s largest cryptocurrency by market capitalization fell to $3,200 on Bitstamp at 00:15 UTC – the lowest level since September 2017. BTC was trapped in a five-day-long narrowing price range 24 hours ago and showed signs that it might break upwards with a strong move toward the crucial resistance at $3,633. These bullish expectations were based largely on a premise that the sellers are facing exhaustion, as indicated by the 14-week relative strength index (RSI), having engineered a 49 percent price drop in the last four weeks. Further, evidence of bargain hunting had emerged earlier this week in the form of a three-day inverted hammer candle. Even so, BTC d
Fundstat’s Tom Lee Says Fair Value of Bitcoin to Reach $150K Per Coin

Fundstat’s Tom Lee Says Fair Value of Bitcoin to Reach $150K Per Coin

BITCOIN, COINTELEGRAPH, CRYPTOCURRENCY
Cryptocurrency bull and co-founder of Fundstrat Global Advisors Thomas Lee said that the “fair value of Bitcoin (BTC) is significantly higher than the current price,” Bloomberg reported on Dec. 13.In a note delivered on Thursday, the veteran market analyst reportedly said that Bitcoin’s fair value is between $13,800 and $14,800, considering the number of active wallet addresses, usage per account and factors influencing supply. Lee attributed the divergence to last year’s meteoric rise, a macroeconomic “meltdown” and treasury sales during initial coin offerings (ICOs). Lee stated:“In fact, working backwards, to solve for the current price of Bitcoin, this implies crypto wallets should fall to 17 million from 50 million currently.”Among key drivers that would drive the value of BTC upward,
Bitcoin Price Near $3,400, Wider Crypto Markets See Another Mild Slump

Bitcoin Price Near $3,400, Wider Crypto Markets See Another Mild Slump

BITCOIN, COINTELEGRAPH, CRYPTOCURRENCY, ETHEREUM, RIPPLE
Thursday, Dec. 13: after seeing a small rebound yesterday, crypto markets are experiencing another mild decline, with 19 out of the top 20 cryptocurrencies by market cap in red.Market visualization from Coin360Top cryptocurrency Bitcoin (BTC) has not managed to hold $3,500 support, dropping to as low as $3,406 earlier today. As of press time, the coin is trading at $3,417, down about 2 percent over the past 24 hours. The leading coin is down about 6.5 percent over the past 7 days by press time.Bitcoin 24-hour price chart. Source: CoinMarketCap Bitcoin Price IndexRipple (XRP), the second largest cryptocurrency by market cap, is down 1.4 percent over the 24-hour period, and is trading around 0.30 at press time.Ripple 24-hour price chart. Source: CoinMarketCap Ripple Price IndexAfter growing ...
Bitcoin Price Consolidates Sub-$3.5K With Bulls and Bears in Stalemate

Bitcoin Price Consolidates Sub-$3.5K With Bulls and Bears in Stalemate

BITCOIN, Coin Desk
Bitcoin (BTC) is consolidating below $3,500 for the third day straight. The challenge now is to gauge whether the bulls or the bears will win out in the coming days. As discussed yesterday, the leading cryptocurrency could soon see a corrective rally if prices manage to clear the crucial resistance at $3,633 (the high of an “inverted hammer” candle on the 3-day chart) by Friday’s UTC close. The bull case is also bolstered by bitcoin’s 14-week relative strength index, which is reporting oversold conditions for the first time since January 2015. A corrective rally, therefore, looks overdue. The odds of a move above $3,633 would rise if BTC’s five-day-long narrowing price range ends with a bullish breakout. As of writing, the upper edge of the price range is located at $3,456 and the lower ed