Tuesday, December 1

Crypto

Facebook-led digital currency Libra could launch in January
Crypto

Facebook-led digital currency Libra could launch in January

Dive Brief:The Facebook-back digital currency Libra could launch as early as January, although in a scaled-down format, according to a report by the Financial Times. The Libra Association, a 27-member consortium created by the social media giant, announced in April it planned to launch digital versions of several currencies. However, a source told the Financial Times on Friday the association plans to launch a single dollar-backed coin in January. Other currencies, as well as a "digital composite" of all its coins, could come at a later date. The timing of the launch depends on when the project receives regulatory approval from Finma, the Swiss Financial Market Supervisory Authority, sources said. The agency did not comment on Libra's application, which was initi...
Whales Dump Ahead Of Bitcoin ATH, More Than 93K BTC Sold Since Peak
Crypto, Crypto News

Whales Dump Ahead Of Bitcoin ATH, More Than 93K BTC Sold Since Peak

Bitcoin price is now trading at roughly 15% less than it was just days ago, falling short of setting a new all-time high by just a few hundred dollars.A new record was so close bulls could taste the victory, but the achievement was blocked by massive whales who reloaded centralized crypto exchanges with a flood of BTC to be dumped, stopping the rally in its tracks. Here’s what this could mean for the crypto market over the next few weeks.Whales Flood Crypto Exchanges With 93K BTC, Bring Bitcoin Rally To Abrupt EndBitcoin was moments away from making history, setting a new all-time high in price and breaking the 2017 crypto bubble record. New BTC addresses are at record highs, as is hash rate, and even the cryptocurrency’s market cap. But so far, price couldn’t yet follow.A new all-...
Cryptocurrency and Safety Money, Bitcoin Vault Breaks Stereotypes
Crypto, Crypto News

Cryptocurrency and Safety Money, Bitcoin Vault Breaks Stereotypes

Cryptocurrency theft has boomed over the past couple of years and this is no hoax. Over USD 1.40 billion was stolen in the first five months of 2020. If thefts continue to rise at this rate, 2020 may well become the second-costliest year in the history of crypto – lagging slightly behind last year’s record of USD 4.5 billion.Hackers Continue To Outpace DefendersAccording to CipherTrace, although cryptocurrency developers, wallets, and exchanges are working hard on strengthening their defenses, hackers continue to outpace them with their innovative tricks and tactics.Take what happened with Binance, the world’s largest exchange, back in May 2018. Over USD 40 million worth of crypto assets were stolen by hackers who used a lethal cocktail of phishing, viruses, and other attack ve...
A BTC Signal With 100% Accuracy
Crypto, Online Trading, Trading Tips

A BTC Signal With 100% Accuracy

 Welcome to this update analysis on Bitcoin! Looking at the daily chart , we can see that BTC has smashed through the pivot high resistance level at 17115 (yellow trendline) like it didn't even exist. While BTC is currently showing no signs of slowing, the parabolic nature of this rally has me anticipating a pullback. With that said, a pullback is technically not guaranteed. In fact, if you look back at previous instances where BTC took out old all time highs, there are several examples where BTC continued a meteoric rise, without pulling back much at all. So, we can't forget the extreme performance of this asset, especially when it was in similar technical situations. Let's look at a few things to assess where a pullback could occur, and why BTC appears to be due for one.Firstly, we'...
Genesis – What is Bitcoin?
Crypto, Videos

Genesis – What is Bitcoin?

https://youtu.be/OjMapgj-O0kInside the Cryptokingdom - Episode 1: Genesis - What is Bitcoin? We go back to the day Satoshi Nakamoto proposed a radical new form of electronic money. In the wake of a devastating financial crisis, an ecosystem would soon emerge across the globe.Storyline: The current hype about bitcoin and other cryptocurrencies as millions are made and lost make for great headlines, but misses the far more interesting story about the technology that allows them to exist blockchain.This series dives into the crypto-kingdom to understand the technology, and why we should all care about how it develops. Just as it’s difficult to do anything without the internet today, in 10 years we might very well be saying the same thing about blockchain.Some see it as a re...
How Bitcoin Could React To Promising Moderna Vaccine
Crypto, Crypto News

How Bitcoin Could React To Promising Moderna Vaccine

This morning, news broke that Cambridge, Massachusetts-based biotech firm Moderna, had reached 94.5% efficiency in preventing the onset of COVID with their in-the-works vaccine. Bitcoin responded with a rally, but the last time around when Pfizer revealed their success rate, the cryptocurrency plummeted by over $1,000.With the likelihood of an effective vaccine growing, and uncertainty surrounding the pandemic and its impact on the economy beginning to fade, how might this impact Bitcoin’s recent bullishness?Bitcoin Rallies On Moderna Vaccine News, Plummets On PfizerBitcoin price action has been unstoppable since the start of November. Only two instances since the month began, did the cryptocurrency experience a pullback of any significance.The second of two more than 6% correction...
PayPal Just Officially Launched Its Cryptocurrency Buying Service
Crypto, Crypto News

PayPal Just Officially Launched Its Cryptocurrency Buying Service

In October, PayPal made waves when it revealed that it would support the buying and selling of crypto assets like Bitcoin and Ethereum within its own application.This was a large reversal from the comments made by the company’s former CEO, who called Bitcoin one of history’s biggest scams. There are also anecdotal stories told by investors in the space like Erik Voorhees of ShapeShift of PayPal employees laughing at Bitcoin.After weeks of beta testing, the service has finally rolled out to all of its customers in the U.S.PayPal Launches Crypto-Asset Purchases and SalesAnnounced today, PayPal has confirmed that all “eligible PayPal account holders in the U.S. can now buy, hold and sell cryptocurrency directly with PayPal.” This comes after a waitlist and weeks of beta testing.To...
As US election dust settles, crypto traders and analysts eye new administration
Crypto, Crypto News

As US election dust settles, crypto traders and analysts eye new administration

While some in the community continue to question the outcome of the US Presidential election, mainstream media outlets and the Associated Press have definitively called the race for former Vice President and current President-Elect Joe Biden.But with uncertainty out of the way, traders and analysts are now looking to determine what a Biden administration will mean for cryptocurrencies — and they appear to have come to a loose consensus that a President who says nothing about crypto is preferable to a president who actively disparages it.Qiao Wang, the lead at decentralized finance accelerator DeFi Alliance, cheered Trump’s loss, noting that the President had tweeted negatively about Bitcoin and Libra in the past:The fact that Trump and Mnuchin are hostile towards BTC makes a Trump...
Top 5 cryptocurrencies to watch this week: BTC, ADA, XMR, ATOM, VET
Crypto, Suggested

Top 5 cryptocurrencies to watch this week: BTC, ADA, XMR, ATOM, VET

Investors are concerned about the stability of the cryptocurrency market after it was faced with a flurry of adverse news in the past few days.Fortunately, the markets have matured to the extent that negative news no longer provokes wild price swings like they once did in crypto’s early days.The current stability shows that institutional investors do not consider the recent KuCoin hack, CFTC and DOJ charges against BitMEX, or even President Donald Trump being diagnosed with coronavirus as serious enough events to crash the crypto markets.Therefore, there was no panic liquidation in Bitcoin (BTC) futures after the news broke and the open interest remained stable.Crypto market data daily view. Source: Coin360In a bullish trend, traders use price weakness caused by knee-jerk react...
FinCEN director warns banks about cryptocurrency risk exposure
Crypto, Crypto News

FinCEN director warns banks about cryptocurrency risk exposure

The U.S. Financial Crimes Enforcement Network (FinCEN) director Kenneth Blanco has warned banks to think seriously about their cryptocurrency risk exposure.During the virtual 2020 ACAMS anti-money laundering Conference in Las Vegas this week, Blanco discussed the obligations of banks in implementing effective anti-money laundering (AML) policies.Current FinCEN regulations (FIN-2019-A003) state that it is the responsibility of all financial institutions to identify and report suspicious activity concerning how criminals and other bad actors exploit card verification checks for money laundering, sanctions evasion, and other illicit financing purposes. For many banks, it is still unclear how virtual currencies affect their institutions.The director emphasized the need for banks to hav...