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Prepping for a Pullback? Bitcoin Price Drops Below $6,000

Prepping for a Pullback? Bitcoin Price Drops Below $6,000

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Prepping for a Pullback? Bitcoin Price Drops Below $6,000 After rallying to a new record high, bitcoin is once again trending down. According to Coindesk's Bitcoin Price Index (BPI), bitcoin prices dipped below $5,800 this morning – prices first passed the $6,000 mark on Friday and set the new all-time high (of $6,148) at 15:00 UTC on Saturday. That figure takes the cumulative returns from the September low of $2,980 to more than 100 percent. The record rally indicates that the regulatory crackdown in China, and subsequent fears of similar restrictions across the globe, have failed to dampen investor sentiment. Meanwhile, the potential benefits of holding bitcoin ahead of another hard fork (in November) – which promises the creat
CryptoGirl
Dilbert Comic Strips Lampoon Blockchain and Initial Coin Offerings

Dilbert Comic Strips Lampoon Blockchain and Initial Coin Offerings

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
With the enterprise business world moving closer to launching blockchain-based products and services, it's no surprise that the popular comic Dilbert would tackle the subject. In the past week, comic artist Scott Adams has put out two strips related to blockchain, including one wherein the eponymous Dilbert floats the idea of launching an initial coin offering (ICO). After Dilbert lays out the basic gist of the use case – through which funds are raised via the sale of cryptographic tokens issued on a blockchain – his boss gets lost in the minutiae of the model. A day later, the comic strip featured another segment related to blockchain, this time referring to the marketing hurdles of explaining what is still a niche technology application. The topic of cryptocurrency itself has been rai
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Bitcoin Breather? Higher Price Push Still Possible on Search Demand

Bitcoin Breather? Higher Price Push Still Possible on Search Demand

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
The price of bitcoin may have hit a new all-time high above $6,000 today, but it's already showing signs it may be primed to push higher. At press time, the bitcoin-US dollar (BTC/USD) exchange rate was roughly $5,950, down slightly from the day's high, but up 9 percent on the week amidst what proved to be strong demand for bitcoin in the $5,000-to-$5,500 range. Week-on-week, bitcoin is up 9 percent, while on a monthly basis, it is up a staggering 53.66%. Looking ahead, however, at least two underlying trends suggest it may trace higher in the days or weeks ahead. Search volumes rise On the back of the all-time high, Google search volume has notably shot up in the last 4 hours. Long an indicator of potential buying (the internet-based asset is bought online mostly after all), this trend s
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Ether Prices Hold Above $300 as Fork Fears Fade

Ether Prices Hold Above $300 as Fork Fears Fade

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Ether prices continue to hold strong despite technical headwinds. At press time, the ether-US dollar (ETH/USD) exchange rate is roughly $305, up from a low of $287 in the wake of a recent software upgrade. And while the price may be down from a peak of $350 in the run-up to the release, the relative price stability may be impressive due to the supposedly shaky state of the code. Of note is that ethereum's new blockchain has still yet to be deemed stable by its developer team. Ethereum founder Vitalik Buterin informed markets this week that one or two months of further testing may be required before it can be declared as fully secure. Still, as the blockchain continues to run without issue, concerns about the possibility of a harmful security bug in the new code appear to be fading. As per
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Cautiously Bullish? $6,000 in Play as Bitcoin Price Stages Sharp Recovery

Cautiously Bullish? $6,000 in Play as Bitcoin Price Stages Sharp Recovery

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Having witnessed a solid recovery from the low of $5,100 in the last 24 hours, bitcoin is once again trading on the front foot and looking northwards. At press time, the bitcoin-US dollar (BTC/USD) exchange rate was roughly $5,700. As per CoinMarketCap, the cryptocurrency has gained 6.47 percent in the last 24 hours. Week-on-week, BTC is up 4.77 percent, and on a monthly basis, it is carrying 45.7 percent gains. So, is the bitcoin price eyeing $6,000? Strong dip demand would seem to suggest so. The drop to $5,100 witnessed yesterday turned out to be healthy correction as expected, and the subsequent 'V' shaped recovery could be taken as an indication cash is waiting on the sidelines for a good opportunity. Further, the potential (or perceived) benefits of holding bitcoin ahead of the hard
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Odd Bedfellows? Blockchain Developers Can Learn to Love the World Bank

Odd Bedfellows? Blockchain Developers Can Learn to Love the World Bank

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Michael J. Casey is the chairman of CoinDesk's advisory board and a senior advisor for blockchain research at MIT's Digital Currency Initiative.  In this opinion piece, one of a weekly series of columns, Casey assess the unorthodox role that multilateral organizations can play in developing blockchain technology. At first glance, the World Bank looks like an ill-suited partner for any self-respecting blockchain developer intent on disrupting the financial order. This isn't just a bank, it's one that’s owned by the world's governments. It would seem the very embodiment of the centralized third party that Satoshi Nakamoto sought to disrupt. But working with the World Bank's new Blockchain Lab offers more opportunities for change than it sounds. And the bank is not the only strange bedfello
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Healthy Pullback? Bitcoin Price Dips Back Below $5,300

Healthy Pullback? Bitcoin Price Dips Back Below $5,300

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Bitcoin may be witnessing a healthy pullback. After having rallied more than 90 percent from a September low of $2,980, the bitcoin-US dollar (BTC/USD) exchange rate is trading at $5,240 today, a figure that, at press time, marks a new daily low. As per CoinMarketCap, the cryptocurrency has shed 7.37 percent in the last 24 hours. Week-on-week, BTC is up 9.9 percent, while month-on-month it is flashing 29 percent gains. Still, with prices having jumped above $5,000 (the previous all-time high) on Oct. 12, what we are witnessing today might be best considered a healthy correction, courtesy of overbought technical indicators. For example, demand for bitcoin jumped last week, reportedly on speculation that the hard fork in November may benefit buyers with the creation of new cryptocurrency (as
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Central Bank of New Zealand Rejects Call for Enhanced Cryptocurrency Regulations

Central Bank of New Zealand Rejects Call for Enhanced Cryptocurrency Regulations

ADOPTION, FINANCE
In recent statements addressing contemporary cyber threats, including those pertaining to cryptocurrency cyber crime such as ransomware, the New Zealand Reserve Bank has rejected calls for enhanced and intrusive regulations. Organisations Have to Be Swift Against Cyber Threats The New Zealand Reserve Bank has rejected calls for enhanced regulations designed to target contemporary cyber threats, including ransomware and other challenges associated with virtual currencies. In a speech which has been published on the New Zealand Reserve Bank’s website, Reserve Bank representative Toby Fiennes articulates the bank’s position on contemporary cyber threats. “The dynamic cyber environment means that organisations have to be nimble in their approach to cyber security – focused on outcomes
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Former Morgan Stanley Head is Backing a Crypto Assets Company

Former Morgan Stanley Head is Backing a Crypto Assets Company

FINANCE
As the market matures and lures more traditional finance professionals, investors like John Mack see a gap in accessibility. Mack is putting money down in what he believes to be the right places – expect ICO later this year. Digital Currency Ventures John Mack, once served as Chief Executive Officer for Morgan Stanley is now setting his crosshairs on digital currency. The banker claims to have been investing in digital currencies for years. John points out in an email statement: I have been watching and investing in the cryptocurrency market over the last several years… We think Omega One is going to be transformative because it benefits the entire ecosystem – making crypto assets cheaper and easier to access. His investments were made via Venture One, a portfolio company in wh
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Digital Currency Tokens are Allowing the Creation of ‘Private Economies’, According to Vinny Lingham

Digital Currency Tokens are Allowing the Creation of ‘Private Economies’, According to Vinny Lingham

FINANCE
In a Medium post Monday, Civic CEO Vinny Lingham said that tokens released by companies as value assets are becoming “yet another killer app.” “We are now entering a realm where its (sic) possible for applications to be built on top of Blockchain technology, and this is enabling new use cases and, more importantly, the ability to create ‘private economies,” he surmised. Lingham received praise for the distribution methods of Civic’s CVC token last month as other ICOs, and token sales gained criticism for their perceived lack of technical robustness and impact on the Ethereum network. Currently trading on Bittrex, EtherDelta and COSS as well as ShapeShift, the average cost of CVC is now just over 20 cents – already double that of the token sale price. “When we look at Civic,