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Bitcoin Price Tumbles 10% as Crypto Markets Flash Red

Bitcoin Price Tumbles 10% as Crypto Markets Flash Red

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bitcoin Price Tumbles 10% as Crypto Markets Flash Red The price of bitcoin fell more than 10 percent during Thursday’s trading session as the cryptocurrency erased a large portion of its recent gains. At 6:00 UTC, bitcoin opened the trading hour at a price of $4,018, but fell to $3,748 before the hour was complete. After trading sideways until 16:00 UTC, the sell-off accelerated to a low of $3,570, according to CoinDesk pricing data. Bitcoin’s current price of $3,610 reflects a $367 difference and more than 9 percent drop from its 24-hour opening price of $3,995, CoinDesk data further reveals. In the last 24-hours, a total of $6.4 billion of bitcoin was traded across exchanges as its total market capitalization fell roughly 7 pe
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Bitcoin Price Slips Below $3.8K as Bullish Bets Tank

Bitcoin Price Slips Below $3.8K as Bullish Bets Tank

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Please share if you find this article interesting. Bitcoin Price Slips Below $3.8K as Bullish Bets Tank Bitcoin is losing altitude as an unwinding of bullish bets is creating downward pressure on prices. As of writing, BTC is changing hands at $3,780 on Bitstamp – down 5 percent on a 24-hour basis – having found offers above $4,000 at 06:00 UTC. Notably, the price drop is accompanied by a decline in the bullish bets. For instance, the BTC/USD long positions on the Bitfinex exchange fell to an eight-day low of 31,237 earlier today and are currently down 8 percent at 31,255 – the biggest single-day drop since Dec. 19. Further, the long-short ratio has pulled back to 1.35 from the five-month high of 1.5 reached yesterday, indicating waning bullish sentiment. What’s more interesting
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Crypto Mining Malware Has Netted Nearly 5% of all Monero, Says Research

Crypto Mining Malware Has Netted Nearly 5% of all Monero, Says Research

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Please share if you find this article interesting. Crypto Mining Malware Has Netted Nearly 5% of all Monero, Says Research Monero (XMR) is by far the most popular cryptocurrency among criminals deploying mining malware, according to a new study. Two researchers, Sergio Pastrana and Guillermo Suarez-Tangil, from Universidad Carlos III de Madrid and King’s College London, respectively, published their report last week, estimating that hackers have mined at least 4.32 percent of the total monero in circulation. Pastrana and Suarez-Tangil write: “Overall, we estimate there are at least 2,218 active campaigns that have accumulated about 720K XMR (57M USD). Interestingly just a single campaign (C#623) has mined more than 163K XMR (18M USD), which accounts for about 23% of the total es
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Bullish Sentiment for Bitcoin Is at a 5-Month High

Bullish Sentiment for Bitcoin Is at a 5-Month High

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Please share if you find this article interesting. Bullish Sentiment for Bitcoin Is at a 5-Month High The ratio of long-to-short positions placed on bitcoin (BTC) has reached its highest level in over five months on cryptocurrency exchange Bitfinex. At press time, the BTC long positions placed on the exchange total 33,750 units, worth $137.3 million at current market prices, whereas the number of short positions is roughly 11,000 units less at just 22,787 – now worth just under $93 million. This creates the long-to-short ratio of nearly 1.5:1 – its highest since August 6th of last year. Bitcoin longs and shorts (Bitfinex) The drop in short positions is not exactly surprising, considering the price of bitcoin fell roughly 50 percent between Nov. 14 and Dec. 14, giving traders amp
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Bitcoin Price Faces Minor Pullback as Indecision Creeps into Market

Bitcoin Price Faces Minor Pullback as Indecision Creeps into Market

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bitcoin Price Faces Minor Pullback as Indecision Creeps into Market With the bitcoin (BTC) market showing signs of indecision, prices could soon retreat back below $4,000. The world’s largest cryptocurrency by market capitalization witnessed two-way business yesterday before ending largely unchanged on the day (as per UTC) at $3,995 on Bitstamp. Worryingly for the bulls, BTC created a doji candle on Tuesday – widely considered a sign of indecision in the market – even though a bull flag breakout, witnessed yesterday, had seemingly set the stage for a move above $4,300. Notably, the candlestick pattern appeared at the top of the recent recovery rally and near crucial resistance above $4,100, representing bullish exhaustion. The be
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Decentralized Exchanges: 2019’s Key to a Dapp Comeback

Decentralized Exchanges: 2019’s Key to a Dapp Comeback

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Please share if you find this article interesting. Decentralized Exchanges: 2019’s Key to a Dapp Comeback David Lu is a partner at 256 Ventures where he focuses on partnering with early stage blockchain companies and a venture partner at Virgil Capital, a quantitative cryptocurrency hedge fund. Find David on Twitter. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review. Ethereum and EOS, the two major platforms on which decentralized applications (dapps) are built, have market capitalizations of $15 billion and $2 billion, respectively. But, unfortunately, the number of dapp users simply fails to correlate with the market capitalization or valuations of these projects, with figures ranging in the thousands at best. Whilst it is impressive observing dapps
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Security Token Offerings: A Way Past the SEC’s Incomplete Crypto Guidance?

Security Token Offerings: A Way Past the SEC’s Incomplete Crypto Guidance?

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Please share if you find this article interesting. Security Token Offerings: A Way Past the SEC’s Incomplete Crypto Guidance? Chi-Ru Jou is a partner in the Blockchain Technology & Digital Currency Group of CKR Law LLP, a global law firm with approximately fifty offices worldwide and more than forty attorneys contributing to the blockchain group. The views offered in this article are her own only. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review. 2018 has been a tumultuous year on the regulatory front for the blockchain industry. The year began with news that the SEC had issued dozens of subpoenas for blockchain startups that had issued unregistered token offerings, spreading alarm throughout the crypto world. These investigations have recently result
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The Case for a 2020 Bitcoin Bull Run

The Case for a 2020 Bitcoin Bull Run

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Please share if you find this article interesting. The Case for a 2020 Bitcoin Bull Run Christopher Brookins is the founder of Pugilist Ventures, a quantitative crypto fund founded out of Carnegie Mellon. ———————————————————————————————— Since the end of 2018, price action has been demonstrably negative, which surprised many expecting the end of Q4 historical “pump” in prices. The price plummet appears largely driven by negative sentiment and swathes of selling pressure after the 2018 support level of $6,000 finally broke (dashed black line). This selling pressure kept prices well into the oversold range (using RSI and SWTO) for several weeks. Only recently, has price begun to rebound. Even so, RSI and SWTO are still trending downward (black arrows), which may point to further pr
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Africa Needs Open Currency Competition. It Needs Cryptocurrency

Africa Needs Open Currency Competition. It Needs Cryptocurrency

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Please share if you find this article interesting. Africa Needs Open Currency Competition. It Needs Cryptocurrency Terence Zimwara is a cryptocurrency enthusiast and economic analyst from Zimbabwe, with firsthand experience of his country’s record hyperinflation. Terence also likes to share his views via his blog. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review. As digital currencies gradually gain traction, a counter narrative emerged as the year progressed: central banks that belatedly acknowledged the value of cryptocurrencies now want to launch their own. However, some want the prerogative to issue this currency assigned to them and only them, because central banks ‘enjoy the confidence’ of the public. Speaking at a Brookings Institute organized d
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Looking North? Bitcoin Price Dip Forms Bull Flag Pattern

Looking North? Bitcoin Price Dip Forms Bull Flag Pattern

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Looking North? Bitcoin Price Dip Forms Bull Flag Pattern Bitcoin’s (BTC) minor pullback from two-week highs could end up fueling a breakout above the key hurdle of $4,140. The world’s largest cryptocurrency by market value jumped to $4,090 at 17:15 UTC on Sunday – the highest level since Dec. 24 – validating the short-term bullish reversal confirmed on Dec. 20. Even so, the positive momentum has weakened slightly in the last 36 hours. As of writing, BTC is changing hands at $3,995 on Bitstamp, having clocked a low of $3,934 earlier today. The 3 percent correction from two-week highs, however, has carved out a bull flag on the technical charts. Put simply, the pattern often represents a pause in a rally and can accelerate the prec