Monday, December 9Your Daily Bitcoin & Altcoin News Portal
Bitcoin Eyes Crash Towards $6K as Market’s Distress Grows

Bitcoin Eyes Crash Towards $6K as Market’s Distress Grows

PRICE ANALYSIS
Please share if you find this article interesting. Bitcoin Eyes Crash Towards $6K as Market’s Distress Grows Bitcoin opened on a faint note this Monday as the market showed a lack of sense of direction owing to low volatility.The world’s leading cryptocurrency was trading at around $7,575.27 as of 1429 UTC after rising by 0.8 percent since the market open. The move upside brought the asset’s net month-to-date gains up by 0.4 percent.It additionally revealed traders’ fear of making big moves after Bitcoin getting closer to the apex of its interim symmetrical triangle | Source: TradingView.com, BitStampWith volumes going down and bitcoin inching towards the apex of the Triangle, there is a strong likelihood of a breakout in the direction of the previous trend. Such a move could cra
A Reality Check: Blockchain and DLT in International Trade

A Reality Check: Blockchain and DLT in International Trade

BITCOIN
Please share if you find this article interesting. A Reality Check: Blockchain and DLT in International Trade Distributed ledger technology, colloquially termed “blockchain,” is making a bold promise to help bring the trade industry into the digital age. To help shed light on the intricate workings of the technology and the role that it is playing in the international trade industry, Trade Finance Global partnered up with the World Trade Organization earlier this month to produce a 56-page report titled “Blockchain & DLT in Trade: A Reality Check,” endorsed by the International Chamber of Commerce. David Bischof, deputy director at the ICC’s finance for development hub, shared in a private interview: “This ‘Blockchain & DLT in Trade’ report is not only an indispensable tool for t
US SEC Seeks to Reopen Case Against Bitcoin Fraudster, Seeks Penalties

US SEC Seeks to Reopen Case Against Bitcoin Fraudster, Seeks Penalties

BITCOIN
Please share if you find this article interesting. US SEC Seeks to Reopen Case Against Bitcoin Fraudster, Seeks Penalties The United States Securities and Exchange Commission (SEC) has filed to reopen a case against Bitcoin (BTC) fraudster Renwick Haddow as he has not resolved the regulator’s claims for monetary relief against him. On Dec. 6, The agency submitted a letter to Judge Lorna G. Schofield of the New York Southern District Court requesting to reopen the case against Haddow. Last year, the SEC accused Haddow of defrauding Bitcoin investors out of over $37 million. The court found him guilty in June of 2019. Claims against Haddow In the letter, the SEC notes that the court gave a partial consent judgment on Haddow on Sept. 10, 2019, after which Judge Schofield closed the
Bakkt Launches 1st Regulated BTC Options as CEO Enters US Senate

Bakkt Launches 1st Regulated BTC Options as CEO Enters US Senate

BITCOIN
Please share if you find this article interesting. Bakkt Launches 1st Regulated BTC Options as CEO Enters US Senate The Intercontinental Exchange (ICE)’s digital asset platform Bakkt has launched the first regulated Bitcoin (BTC) options and cash-settled futures in the United States. According to an announcement on Dec. 9, Bakkt is now using its physically settled Bitcoin contracts as a benchmark to build complementary products. Bakkt’s monthly futures contract will be a benchmark for other new products The news was announced in a blog post by Bakkt COO Adam White. The post reads: “By starting with the physically delivered Bakkt Bitcoin (USD) Monthly Futures, we have a benchmark contract that provides the foundation for us to develop complementary products based on the needs of
Lithuanian Central Bank Announces Blockchain Collector Coin

Lithuanian Central Bank Announces Blockchain Collector Coin

BITCOIN
Please share if you find this article interesting. Lithuanian Central Bank Announces Blockchain Collector Coin The Bank of Lithuania announced that it will release a digital, blockchain-based collector coin in the spring of 2020, according to a press release on Dec. 9. The coin is dedicated to the Act of Independence of Lithuania on Feb. 16, 1918, and its 20 signatories. In homage to the year of the act, the coin will bear a denomination of 19.18 euros, while its size and form will resemble a credit card. Bank of Lithuania board member Marius Jurgilas said they chose the theme because of the significant role the Act played in Lithuania’s history.  Blockchain technology will be the layer hosting the 24,000 tokens that the institution plans to release to the public, each featuring
Bitcoin Price Fills $7.5K Futures ‘Gap’ as Trader Weighs $8K Potential

Bitcoin Price Fills $7.5K Futures ‘Gap’ as Trader Weighs $8K Potential

BITCOIN
Please share if you find this article interesting. Bitcoin Price Fills $7.5K Futures ‘Gap’ as Trader Weighs $8K Potential Bitcoin (BTC) fluctuated around $7,500 on Dec. 9 after a weekend of range-bound movement reduced volatility concerns for traders. Cryptocurrency market daily overview. Source: Coin360 Bitcoin delivers classic futures “bounce” Data from Coin360 and Cointelegraph Markets showed the largest cryptocurrency trading in a $250 corridor since Friday, marking local highs of $7,604 before briefly reversing to $7,395 on Sunday. Since then, the $7,500 boundary has acted as a centerpiece for Bitcoin, which comfortably filled the latest “gap” in futures markets once again as the week began. An increasingly common feature, futures gap-filling refers to BTC/USD targeting a z
Japan’s 2nd-Largest Utility Trials Blockchain for Renewable Energy Credits

Japan’s 2nd-Largest Utility Trials Blockchain for Renewable Energy Credits

BITCOIN
Please share if you find this article interesting. Japan’s 2nd-Largest Utility Trials Blockchain for Renewable Energy Credits The second-largest power utility in Japan is extending its trial of a blockchain-powered system for transacting renewable energy credits. According to a press release shared with Cointelegraph on Dec. 9, the Kansai Electric Power Co Inc (KEPCO) is extending its trial of a blockchain-enabled renewable energy trading platform developed by Australian tech firm Power Ledger. Decentralizing, decarbonizing In 2018, Japan was the world’s fifth-largest consumer of electricity, yet produced only 17.5% of its energy from renewable sources. In May of this year, the country’s Ministry of Economy, Trade and Industry decided to continue its sale of non-fossil fuel value
Regulatory Roundup: Bitcoin Futures Fund Approved, India’s RBI-Backed Digital Currency – Bitcoin News

Regulatory Roundup: Bitcoin Futures Fund Approved, India’s RBI-Backed Digital Currency – Bitcoin News

BITCOIN
Please share if you find this article interesting. Regulatory Roundup: Bitcoin Futures Fund Approved, India's RBI-Backed Digital Currency - Bitcoin News In this regulatory roundup, we cover the U.S. SEC approving a bitcoin futures fund, the new IRS tax form targeting crypto owners, and several more steps taken by the U.S. government toward crypto regulation. We also cover India’s central bank digital currency plan, South Korea’s crypto taxation plan, and the European Commission’s announcement regarding stablecoins. Also read: Regulatory Roundup – Germany to Let Banks Sell and Store Crypto, Laws Changing in Asia SEC, IRS, Financial Stability Council, Senate Several U.S. regulators took some notable steps pertaining to their cryptocurrency oversight last week. In the financial se
Cryptocurrency Exchange OKEx to Launch Options Trading This Month

Cryptocurrency Exchange OKEx to Launch Options Trading This Month

BITCOIN
Please share if you find this article interesting. Cryptocurrency Exchange OKEx to Launch Options Trading This Month Malta-based cryptocurrency exchange OKEx announced that it will launch crypto options trading on Dec. 27. In a press release on Dec. 9, the exchange said that the addition of options makes OKEx the “first crypto exchange to offer C2C, spot, futures, perpetual swap, and options trading under the same roof.”  The options will allow the platform’s users to buy or sell an underlying asset after paying a premium. While real options trading will begin on Dec. 27, simulated trading is scheduled to start in just three days, on Dec. 12. A major upgrade for OKEx To implement options, the firm reportedly upgraded its entire system and infrastructure, including the addition of
Bitcoin Charts First Weekly Golden Cross in 3.5 Years

Bitcoin Charts First Weekly Golden Cross in 3.5 Years

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bitcoin Charts First Weekly Golden Cross in 3.5 Years View Bitcoin’s weekly chart is reporting a bullish golden cross of the 50- and 100-period moving averages. The widely followed, but lagging, indicator may fail to attract buyers as broader market conditions are currently bearish.  A UTC close above $7,870 is needed to confirm a short-term bullish reversal, according to the daily chart.  The cryptocurrency risks falling to key support at $7,087, having faced rejection at bearish weekly average resistance during the Asian trading hours. Bitcoin’s longer duration chart is flashing a specific bull market signal for the first time in over three years.  On the weekly chart, the cryptocurrency’s 50-period moving average (MA) ha