Tuesday, November 20Your Daily Bitcoin & Altcoin News Portal

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Capitulation? This Bitcoin Sell-Off Still Isn’t as Extreme as 2015’s

Capitulation? This Bitcoin Sell-Off Still Isn’t as Extreme as 2015’s

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Capitulation? This Bitcoin Sell-Off Still Isn’t as Extreme as 2015’s A total of $60 billion has been erased from the value of all cryptocurrencies over the last week, a decline that has many wondering if the ongoing bear market for the asset class has finally come to an end. Defined as a period of depressed activity and sentiment, the bear market has seen the price of bitcoin, the world’s largest cryptocurrency, decline more than 75 percent from all-time highs set in January. Further, as bitcoin makes up more than 50 percent of the entire market in terms of total capitalization, it’s safe to say the bear market may end when bitcoin bulls refuse to cede more ground. But in order for a true ‘bottom’ to be found, many figure a “capi
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Bitcoin Price Drops to $4,200 Despite Record Low On RSI

Bitcoin Price Drops to $4,200 Despite Record Low On RSI

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Please share if you find this article interesting. Bitcoin Price Drops to $4,200 Despite Record Low On RSI Bitcoin’s price continues to slide despite the oversold conditions signaled on the technical charts for the last six days. The leading cryptocurrency by market capitalization fell to $4,200 soon before press time – a price low not seen since Oct. 5, 2017 – and was last seen trading at $4,484, according to CoinDesk’s Bitcoin Price Index (BPI). Notably, the 14 percent drop witnessed in the last 24 hours has pushed the widely followed 14-day relative strength index (RSI) below 10.00, its lowest reading on record. An asset is considered to be oversold and due for a corrective bounce when its RSI is below 30.00. BTC’s RSI fell into oversold territory on Nov. 14, but a strong reco
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Alabama: The Unlikely Frontline for America’s Crypto Fraud Crackdown

Alabama: The Unlikely Frontline for America’s Crypto Fraud Crackdown

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Please share if you find this article interesting. Alabama: The Unlikely Frontline for America’s Crypto Fraud Crackdown “Of the states, I think we’ve got about 20 percent of all the active cease-and-desists.” That’s Greg Bordenkircher, the chief litigator at the Alabama Securities Commission, describing the extent to which his state, just the 24th largest by population, has nonetheless come to play a leading role in the ongoing fight against U.S. crypto fraud. “We’ve issued nine orders shutting down businesses that are advertising in Alabama,” he told CoinDesk. “We have another 20, 22 that we are looking at right now.” But Bordenkircher’s agency is hardly alone. As a member of the North American Securities Administrators Association (NASAA), it’s part of a coalition that’s been c
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Below $5K: Bitcoin Drops $500 to Set New 2018 Low

Below $5K: Bitcoin Drops $500 to Set New 2018 Low

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Please share if you find this article interesting. Below $5K: Bitcoin Drops $500 to Set New 2018 Low Bitcoin dropped below $5,000 for the first time in over 13 months on Monday. CoinDesk price data reveals the world’s largest cryptocurrency by market capitalization fell to $4,981 shortly after 16:30 UTC on Monday, signifying a dollar-decline of more than $500 for the day when the move occurred. That’s the lowest figure since Oct. 12, 2017, and as of press time, the price has recovered somewhat to $5,048 – still signifying a decline of more than 9 percent.  The broader cryptocurrency market accompanied BTC in its steep sell-off and has shed more than $15 billion in total market capitalization in the last 24 hours. Many cryptocurrencies are faring worse than BTC, including the lik
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Bitcoin Price Hits 13-Month Low as Crypto Market Slumps

Bitcoin Price Hits 13-Month Low as Crypto Market Slumps

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Please share if you find this article interesting. Bitcoin Price Hits 13-Month Low as Crypto Market Slumps Bitcoin (BTC) dropped to its lowest level since October 2017 on Monday, as losses are seen across the broader crypto market. The leading cryptocurrency fell to $5,165 earlier today – the lowest level since Oct. 18, 2017 – having breached the crucial support of $6,000 last week. As of writing, BTC is changing hands at $5,283 – down 5 percent on a 24-hour basis and 16 percent week-on-week – according to CoinDesk’s Bitcoin Price Index (BPI). Further, the year-on-year loss now stands at 32 percent, as prices were trading well above $7,600 on Nov. 19, 2017. Elsewhere, ethereum’s ETH token, cardano and Tron are also flashing double-digit losses on a 24- hour basis. Notably, ETH fe
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Beyond Price: Why We Need a Better Way to Value Crypto Assets

Beyond Price: Why We Need a Better Way to Value Crypto Assets

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Please share if you find this article interesting. Beyond Price: Why We Need a Better Way to Value Crypto Assets Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly,  a custom-curated newsletter delivered every Sunday exclusively to our subscribers. The most commonly cited number for comparing the worth of different crypto projects is market capitalization. It is an extremely flawed metric. Critics note, for example, that poor liquidity, combined with lax rules at many exchanges, let founders and large holders easily manipulate market cap quotes at sites such as CoinMarketCap. This made for all sorts of abuses during the ICO man
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7 Facebook, Amazon, Apple, Netflix and Google Staffers That Went Full Crypto

7 Facebook, Amazon, Apple, Netflix and Google Staffers That Went Full Crypto

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Please share if you find this article interesting. 7 Facebook, Amazon, Apple, Netflix and Google Staffers That Went Full Crypto “Follow the talent.” It’s a maxim investor Chris Burniske tweeted recently to underscore another tweet from AngelList co-founder Naval Ravikant when he wrote back in March: “Blockchains are now sucking in top-tier Silicon Valley tech talent faster than any boom since the Internet.” Yet, as the first flurries of crypto winter blow, this narrative has hardly cooled. We heard it echoed again most recently in October when we spoke to Tinder exec and venture investor, Jeff Morris, Jr., who started Chapter One Ventures to back crypto projects he finds exciting. But, who are these professionals leaving good companies to take a chance on the world of crypto? Coi
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Crypto Job Interest ‘Still Strong’ Despite Decline, Says Indeed

Crypto Job Interest ‘Still Strong’ Despite Decline, Says Indeed

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Please share if you find this article interesting. Crypto Job Interest ‘Still Strong’ Despite Decline, Says Indeed Interest from both employers and job seekers in blockchain and cryptocurrency-related jobs has declined in the past year, new data indicates. According to figures provided to CoinDesk from one of the largest jobs sites, Indeed.com, searches for roles involving bitcoin, blockchain and cryptocurrency dropped by 3.06 percent from October 2017 to October 2018 (blue line on graph below). Meanwhile, employer interest in such jobs – that is, the number of job postings – increased by 25.49 percent over the same period (red line on graph). The statistics paint a “very different” picture than that seen last year, Indeed said. In the year from October 2016 to October 2017, job
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Bitcoin Price Pattern Suggests a Bounce May Be Coming

Bitcoin Price Pattern Suggests a Bounce May Be Coming

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Please share if you find this article interesting. Bitcoin Price Pattern Suggests a Bounce May Be Coming If past events are a guide, bitcoin (BTC) could in for a recovery rally in the short-term. Following Wednesday’s 10 percent slump, the leading cryptocurrency printed an intraday low of $5,188 on Thursday, before closing largely unchanged on the day (as per UTC) at $5,580. The price swing formed what’s termed a “long-tailed doji” candle on the daily chart, which is usually taken to represent indecision in the marketplace. The fact that the candle appeared at the bottom of the recent sell-off indicates the indecision is predominantly among the sellers and could be considered a sign of bearish exhaustion. Potentially more interesting, though, is that throughout 2018, BTC has witn
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Bitfinex’s Parent Company Has a New Offshore Services Provider

Bitfinex’s Parent Company Has a New Offshore Services Provider

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bitfinex’s Parent Company Has a New Offshore Services Provider iFinex, the parent company of controversial cryptocurrency exchange Bitfinex, appears to have hired a new offshore corporate services provider. A trademark application dated Oct. 31 gives iFinex’s address as care of SHRM Trustees (BVI) Ltd., marking a change from prior trademark applications – including one filed in June 2017 – which gave the address as care of Estera Corporate Services (BVI) Ltd. Both SHRM and Estera, the filings show, are located in Road Town, the capital of the British Virgin Islands. Recent trademark application showing iFinex’s address as “c/o SHRM Trustees (BVI) Ltd.” Older trademark application showing iFinex’s address as “c/o Estera Corporat