Monday, November 19Your Daily Bitcoin & Altcoin News Portal

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

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

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
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

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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
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What We Know About Bitcoin Cash’s Two Blockchains

What We Know About Bitcoin Cash’s Two Blockchains

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Please share if you find this article interesting. What We Know About Bitcoin Cash’s Two Blockchains At 18:02 UTC, the bitcoin cash blockchain officially split in two. With one iteration of the bitcoin cash protocol called Bitcoin “Satoshi’s Vision” or Bitcoin SV directly opposing the upgrades introduced through another implementation called Bitcoin ABC, the blockchain forked into two distinct networks. And while a so-called “hash war” had been greatly anticipated, for now – at least – the two chains are steadily mining blocks on their respective networks. Threats of cross-chain sabotage hinted at by Bitcoin SV proponents have yet to materialize. Initially, the Bitcoin ABC network was the only bitcoin cash platform to successfully create new blocks and validate transactions after
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Bitcoin Price Eyes $5K Defense as RSI Hits 4-Year Low

Bitcoin Price Eyes $5K Defense as RSI Hits 4-Year Low

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Please share if you find this article interesting. Bitcoin Price Eyes $5K Defense as RSI Hits 4-Year Low Bitcoin is looking oversold after a drop to 13-month lows Wednesday and could defend immediate support at $5,000 in the next few days. The world’s top cryptocurrency by market value fell to $5,324 (price via Bitstamp) in a matter of hours yesterday, reaching its lowest level since Oct. 18. The average price across major exchanges, as calculated by CoinDesk’s Bitcoin Price Index fell 10 percent – the biggest single-day drop since March 30. While BTC had supposedly carved out a long-term bottom around $6,000, the convincing break below that level indicates a resumption of the sell-off from the record high of $20,000 reached last December. As a result, a deeper drop looks likely,
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Buy or Sell? What Traders Think About Today’s Bitcoin Cash Fork

Buy or Sell? What Traders Think About Today’s Bitcoin Cash Fork

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Please share if you find this article interesting. Buy or Sell? What Traders Think About Today’s Bitcoin Cash Fork All eyes are on the bitcoin cash (BCH) blockchain ahead of a scheduled technical upgrade tomorrow.  While it’s a process that the world’s fourth-largest blockchain by market capitalization undergoes every six months, at which point it asks all users operating the software to upgrade to a newer version, there’s a twist this time around. Specifically, a deep contention over the cryptocurrency’s technical direction. While previous forks have been supported en masse by bitcoin cash developers and miners, there are now marked differences of opinion between supporters of two main versions of the software – Bitcoin ABC and Bitcoin SV – over the future the direction of the c