Please share if you find this article interesting. 'Fans' Build Controversial ICO Around Chinese Pop Band Self-proclaimed fans of a popular Chinese boy band have built an initial coin offering (ICO) around their idols, amid controversy over the project's legitimacy. At the heart of the project is a well-known home-grown pop band named The Fighting Boys (or TFBoys), formed by three teens – Karry Wang, Roy Wang, and Jackson Yi – in 2013. Notably, last year, Roy Wang was featured by Time as one of the 30 most influential teens of 2017. Amid the band's overwhelming popularity in China, an unnamed group of fans have just launched an ICO to raise funds, supposedly aimed to build a blockchain ecosystem around the teen trio. The project is notable, not only because it sets out on a missi
Please share if you find this article interesting. Bullish Signs Above $8K: Has Bitcoin Turned the Corner? Bitcoin clocked six-day highs above $9,000 over the weekend, but a long-term bull market revival may not be on the cards, yet. Having clocked a high of $9,070.64 on Saturday, prices again fell back below $8,000 briefly on Sunday before climbing again. CoinDesks's Bitcoin Price Index (BPI) was last seen at $8,772. The cryptocurrency has appreciated by 9.70 percent in the last 24 hours, as per data source CoinMarketCap. Bitcoin (BTC) is also close to 40 percent above last week's low of $5,947.40. So has the cryptocurrency bottomed out? BTC has a history of rallying to fresh record highs after the relative strength index (RSI) has bottomed out at, or below, 30.00 (oversold reg...
Please share if you find this article interesting. Bitcoin Sets Six-Day High Above $9K (Then Dips Again) Bitcoin (BTC) is trimming gains, having set a six-day high above the $9,000 mark early Saturday, according to CoinDesk's Bitcon Price Index (BPI). The cryptocurrency ran into bids at $8,608.62 at 00:14 UTC and jumped to $9,070.64 at 07:17 UTC – the highest level since Feb. 4. As of 12:00 UTC, the BPI is at $8,650 levels. Bitcoin has appreciated by roughly 5 percent in the last 24 hours, according to CoinMarketCap. Still, it's the broader context that might be most important in understanding why these small gains might tell a bigger story – BTC has now rallied more than $2,300 from Tuesday's low below $6,000. Meanwhile, other crypto market leaders have also witnessed solid gain
Please share if you find this article interesting. Lesser-Known LSK Was Crypto's Big Weekly Winner The cryptocurrency markets are at last witnessing solid two-way business after a rough week across the markets. The market capitalization of all cryptocurrencies fell 40 percent to $276 billion on Feb. 6 – the lowest since Nov. 26. However, the value has recovered over the last seven days of trading to $400 billion, a figure that, while not quite the weekend low, is still 13 percent below weekly highs. Despite the turmoil, a few names (from the top 25 currencies as per market cap) like bitcoin cash, lisk, and litecoin managed to etch out gains on the back of the upbeat fundamental news. Meanwhile, the losers are dominated by small caps like populous and ICON. Let's look at the numbe
Please share if you find this article interesting. Bitcoin Price Looks North as Stock Market Falls Again BTC looks set to make further gains amid mixed action in the crypto markets. Having hit a four-day high of $8,621.27 yesterday, CoinDesk's Bitcoin Price Index (BPI) fell to $7,754.67 at 05:29 UTC today. As of writing, BPI is at $8,246. The cryptocurrency has depreciated by 1 percent in the last 24 hours, according to data source CoinMarketCap. Meanwhile, bitcoin (BTC) offshoot bitcoin cash has strengthened by 25 percent in the last 24 hours, while Ripple's XRP token is reporting a 3 percent rise. The losing side includes names like Ethereum's ether token, Cardano, Stellar and NEO, which are all showing slight dips. Bitcoin's retreat from $8621.27 to $7,754 coincided with a 100...
Please share if you find this article interesting. $1,700? Why Even Bitcoin's Bear Case Is Still Bullish Catherine D. Wood is the chief executive and chief investment officer at ARK Investment Management in New York. As the first public asset manager to gain exposure to bitcoin at $250 through the Bitcoin Investment Trust (GBTC), ARK Invest faced a number of questions and much ridicule in September 2015. Given our research-based conviction, and the knee-jerk reaction of skeptics, we knew we were on to something big. Ending a near-cataclysmic slide from roughly $1,250 in November 2013 to $175 in January 2015, bitcoin’s price stabilized around its 200-week moving average for the next nine months, as shown by the green line below. At that time, the European sovereign debt crisis w
Please share if you find this article interesting. Bull Case Strengthens? Bitcoin Stays Bid Above $8K Bitcoin's quick recovery from the minor wobble seen in Asian hours has strengthened the bull case scenario, technical charts indicate As of writing, CoinDesk's Bitcoin Price Index (BPI) is at $8,165 – up 3.9 percent from the overnight low of $7,573. That said, the cryptocurrency is still down 3.7 percent from the previous day's high of $8,582. On Coinbase's GDAX exchange, BTC clocked a high of $8,650 yesterday before a technical failure at key trendline resistance pushed prices back to $7,535. However, the dip was short-lived and the cryptocurrency moved back above the $8,000 mark this morning and was last seen changing hands at $8,280. The positive price action indicates the inv
Please share if you find this article interesting. CoinDesk Releases 2018 Bitcoin and Blockchain Industry Report If bitcoin is in a bubble, it is one of the few in the history of finance – if not the first – that expanded with negligible use of credit. That's just one of the unique takeaways from CoinDesk's State of Blockchain 2018 report, the latest in the quarterly series setting out our in-depth research on the rapidly evolving world of cryptocurrencies and the technologies they've inspired. Released Wednesday, the report provides a 160-plus slide analysis of some of the data points propelling this story forward. The report covers public blockchains, DLT, consortium chains, initial coin offerings (ICOs), trading and investments, and regulation, and also features the results of
Please share if you find this article interesting. Floor Found? Strong Volumes Push Bitcoin Above $8K Bitcoin is rallying today, having bottomed out below the $6,000 mark yesterday. As of writing, global average prices on CoinDesk's Bitcoin Price Index (BPI) are around $8,120. On Coinbase's GDAX exchange, bitcoin (BTC) moved above $7,944 – the confluence of 200-day moving average (MA) and 5-day MA – earlier today and was last seen changing hands at $8,200 The cryptocurrency has appreciated by 26 percent in the last 24 hours, according to CoinMarketCap. Also, prices are up 38 percent from the previous day's low of $5,947.40, as per the BPI. Across social media, the sharp rise in BTC is being attributed to the U.S. Securities and Exchange Commission's (SEC) and the Commodity Future
Please share if you find this article interesting. Bitcoin's Price Has Nearly Unwound Its Futures Boost Bitcoin's drop to 3-month lows below $6,000 could be seen as the completion of a round trip. On Nov. 1, bitcoin (BTC) prices received a shot in the arm on news that derivatives marketplace operators CME Group, Cboe and Cantor Fitzgerald were considering launching futures for the market in December. It was widely believed that BTC would zoom to dizzying heights as a move to the mainstream would open doors for a bigger kind of whale. The speculation drove prices higher to $10,000 in November, and the sharp rise and resulting fear of missing out established a positive feedback loop, one that sent prices to $20,000 by mid-December. However, since then, the BTC has been steadily los...