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NYMEX Trader: Bitcoin Soon to Move Back to $7,000, Markets to Consolidate

NYMEX Trader: Bitcoin Soon to Move Back to $7,000, Markets to Consolidate

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Please share if you find this article interesting. NYMEX Trader: Bitcoin Soon to Move Back to $7,000, Markets to Consolidate A cryptocurrency trader at the New York Mercantile Exchange (NYMEX) said that bitcoin (BTC) will likely move back to $7,000 and consolidate soon in an interview with CNBC on May 21. Delivering his comments on CNBC’s Trade Alert show, Anthony Grisanti of NYMEX said that he thinks the price of bitcoin will get back to $7,000 in a short period of time, meaning that the market will consolidate. “I think it consolidate a little bit … I think consolidation for this market is very healthy,” Stutland stated. The trader further noted that over the last few sessions, volumes have come back down, which indicates that buyers are not returning to the market with the sam
Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 22

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 22

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Please share if you find this article interesting. Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 22 The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. Analysts believe that the rally in Bitcoin might witness a short-term blip but is likely to resume its up-move and reach $9,659 by year’s end. The reason for the rise can be attributed to various positive developments in the crypto field and also to the ongoing trade war between the top two economies of the world, China and the United
Bitfinex and Tether Obtain Stay of Demands From New York Supreme Court

Bitfinex and Tether Obtain Stay of Demands From New York Supreme Court

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Please share if you find this article interesting. Bitfinex and Tether Obtain Stay of Demands From New York Supreme Court Cryptocurrency exchange Bitfinex and its affiliated stablecoin issuer Tether have been granted its stay of demands for which they applied yesterday May 21, according to a blog post published on May 22. Per the post, Justice Joel M. Cohen of the New York Supreme Court (NYSC) ruled to grant the companies their motion for an immediate stay of the document demands. The court thus only requires the parties to produce documents and information related to whether there is personal jurisdiction over the companies in New York, while staying the document order in all other regards. In yesterday’s motion, law firms representing the two companies specifically argued that
Coinbase Payment Processing Service Now Supports Circle’s USDC Stablecoin

Coinbase Payment Processing Service Now Supports Circle’s USDC Stablecoin

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Please share if you find this article interesting. Coinbase Payment Processing Service Now Supports Circle’s USDC Stablecoin Major United States-based cryptocurrency exchange Coinbase announced that its cryptocurrency payment processor Coinbase Commerce now supports Circle’s stablecoin USD Coin (USDC) in a blog post on May 20. Per the announcement, Coinbase Commerce users can now accept USDC payments with no transaction fees. The announcement specifies that “unlike accepting credit card payments, merchants can accept USD Coin without geographical limitations or the need for a traditional bank account.” Additionally, Coinbase states that accepting stablecoins allows merchants to benefit from cryptocurrency transactions while avoiding the volatility characteristic of un-pegged digi
Multicurrency Crypto Wallet Integrates Apple Pay, With Google Pay to Follow Within Weeks

Multicurrency Crypto Wallet Integrates Apple Pay, With Google Pay to Follow Within Weeks

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Please share if you find this article interesting. Multicurrency Crypto Wallet Integrates Apple Pay, With Google Pay to Follow Within Weeks A multicurrency digital wallet that enables consumers to store crypto and spend their funds at more than 40 million outlets worldwide has fully integrated Apple Pay. Spend says the latest version of its Spend Wallet app unlocks instant access to the popular iPhone feature, meaning that more than 20 supported cryptocurrencies can be instantly converted to fiat and used to complete a mobile transaction on demand. The platform says its priority has been ensuring that users can access all of these features instantly. An emphasis has been placed on streamlining the Know Your Customer process, and once this is complete, eligible consumers can immed
Cryptopia Cracked: Are Centralized Exchanges the Way to Go?

Cryptopia Cracked: Are Centralized Exchanges the Way to Go?

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Please share if you find this article interesting. Cryptopia Cracked: Are Centralized Exchanges the Way to Go? It goes without saying that exchanges command significant influence over the cryptocurrency market, being the exclusive portals for fiat into the world of blockchain. Exchanges are also the most significant winners of the cryptocurrency craze, and bank billions by raking in fees and maintaining custody over sizeable crypto wallets comprised of their own funds but also those of the customers. In a largely unregulated environment, the latter idea comes with its own set of implications and risks. Not every exchange uses its capital to reduce these risks adequately. Instead of reinvesting in a more secure custody service or establishing carefully administered audits, some ex
Europol Shuts Down $200 Million Crypto Mixing Service Bestmixer

Europol Shuts Down $200 Million Crypto Mixing Service Bestmixer

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Please share if you find this article interesting. Europol Shuts Down $200 Million Crypto Mixing Service Bestmixer Dutch, Luxembourg authorities and Europol have shut down one of the three largest cryptocurrency tumblers, Europol reported on May 22. A cryptocurrency tumbler, also known as a cryptocurrency mixing service, is an anonymity tool that claims to transform transactions of non-private coins to private ones by mixing crypto funds with others, which makes it difficult to track the funds’ original source. According to the report, the Dutch Fiscal Information and Investigation Service (FIOD) has now seized six servers of major crypto tumbler Bestmixer.io, which had a reported turnover of at least $200 million since its launch in May 2018. The service was purportedly one of t
Four Banks Successfully Test New Blockchain Platform for Processing Promissory Note Loans

Four Banks Successfully Test New Blockchain Platform for Processing Promissory Note Loans

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Please share if you find this article interesting. Four Banks Successfully Test New Blockchain Platform for Processing Promissory Note Loans A group of four banks have successfully issued a promissory note — a type of legally binding loan agreement — through a new blockchain platform, a news release on May 21 announced. The financial institutions used finledger to complete the transaction. According to Helaba, one of the banks involved, the platform reduces the steps involved with issuing such a note by more than 50%. As well as eliminating the need for lenders to hold documents or for borrowers to send valuables, the banks claimed the technology helps cut the risks and costs associated with the process. DekaBank, dwpbank, DZ Bank and Helaba were involved in the pilot transaction
Upcoming Supply Cut Will See Bitcoin Prices Rise Further, Brian Kelly Predicts

Upcoming Supply Cut Will See Bitcoin Prices Rise Further, Brian Kelly Predicts

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Please share if you find this article interesting. Upcoming Supply Cut Will See Bitcoin Prices Rise Further, Brian Kelly Predicts An upcoming supply cut could help bitcoin (BTC) prices rise further in the coming months, crypto fund manager Brian Kelly told CNBC on May 21. Speaking to the Fast Money program, he explained that “the halvening,” next due to take place in 2020, will see mining rewards cut in half. With many miners now hoarding BTC, Kelly predicted that prices will rise as increased demand — tied to increasing industrial adoption and retail uses — competes with diminished supplies. Describing the four-year cycle that leads up to “the halvening,” Kelly added: “You generally have a rally a year into it, and a year out of it. And so we’re just at the beginning of that st
Ripple Escrow Reporting: Creative Accounting or Much Ado About Nothing?

Ripple Escrow Reporting: Creative Accounting or Much Ado About Nothing?

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Please share if you find this article interesting. Ripple Escrow Reporting: Creative Accounting or Much Ado About Nothing? On May 16, 2019, Coin Metrics released a report detailing discrepancies in Ripple’s escrow reporting system. The Blockchain analysis firm described these discrepancies as contradictions that required some explanation. As per usual, any story concerning Ripple is going to come in for some polarizing viewpoints, with strong opinions on both sides of the matter. On the one hand, Ripple says the discrepancies aren’t so much a financial issue as they are a timeline adjustment. Critics of the company, on the other hand, see it as a further ground for criticism of Ripple’s operations. How Ripple escrow works Back in mid-December 2017, Ripple published a document det