Saturday, July 4Your Daily Bitcoin & Altcoin News Portal
Bitcoin Falls to Lowest Prices in 1 Month

Bitcoin Falls to Lowest Prices in 1 Month

BITCOIN
Bitcoin falls to near one-month low with $12 billion wiped off value since record high 30 days ago. Bitcoin hit a near one-month low on Wednesday and has seen more than $12 billion wiped off its value in the last 30 days, amid nervousness in the cryprocurrency market. The price of bitcoin fell to $2,272.32, its lowest level since June 15, when it slumped to $2,185.96, according to data from CoinDesk. The price did recover on Wednesday slightly to a high of $2,354.41. It’s also significantly off the $3,025.47 all-time high reached on June 11, just over a month ago. In this timeframe, its market capitalization or value has fallen by $12.2 billion. A major pullback is taking place at the moment in the cryptocurrency world after huge rallies. When bitcoin hit its record hi
Experts Believe Cryptocurrencies Still Have Unprecedented Returns to Offer

Experts Believe Cryptocurrencies Still Have Unprecedented Returns to Offer

ALTCOINS
Investors are still forging ahead with digital currencies such as Bitcoin and Ethereum despite the recent volatility. Many experts and professional investors still believe that there are unprecedented returns on offer. New Heights Investors in traditional markets are not used to seeing swings of 50 percent in a month for an asset, such as what happened to Ethereum which dropped from nearly $400 to just over $200, as well as experiencing a flash crash. There has also been a huge correction in Bitcoin price that has seen it fall from its high of $3,000. Despite this though, predictions for digital currency are still aimed astronomically skyward. It is because of the popularity and huge increase in uptake that these digital currencies are on the rise, but also due to companies looking
South Korea Will Allow Bitcoin Companies to Perform Cross-Border Payments

South Korea Will Allow Bitcoin Companies to Perform Cross-Border Payments

FINANCE
The South Korean government will issue permits to FinTech firms including bitcoin mediated foreign currency transfer services to enable international money transfers for small funds. Come August 15, about 40 FinTech firms are expected to launch international money transfer services after receiving permits from the Financial Supervisory Service, South Korea’s financial regulator. According to the Korea Herald, the permitted amount for a one-off transfer via a FinTech firm will be $3,000 or less. The annual limit for a single account will be capped at $20,000 for transfers through FinTech firms. In early May, the South Korean government moved to lower the regulatory burden for foreign money transfer startups. There are at least 20 FinTech companies in Korea who use bitcoin for fore
Ethereum Classic Trading is About to Start on Chinese Exchange Huobi

Ethereum Classic Trading is About to Start on Chinese Exchange Huobi

EXCHANGE
Cryptocurrency exchanges always have to keep meeting market demand. In most cases, this means increasing the number of listed currencies. Huobi, one of China’s largest exchanges, plans to introduce Ethereum Classic trading later today. This is a major boon for all ETC users, to say the least. It is not the first platform to recently add ETC trading either, which is rather interesting. Huobi is one of the leading Chinese exchanges. Even though they may not generate the volume OKCoin.cn does, they are still an important platform. So far, they focus on three main cryptocurrencies, all of which are trading against the Chinese Yuan. Bitcoin, Litecoin, and Ethereum are all supported as we speak. Adding Ethereum Classic to this small and illustrious list is quite interesting, to say the le
US Accounting Board is Considering New Standards for Bitcoin Companies

US Accounting Board is Considering New Standards for Bitcoin Companies

FINANCE
The Financial Accounting Standards Board (FASB), a financial accounting standards body in the US, is reportedly considering whether to undertake a new initiative on digital currencies. According to Reuters, the FASB – which sets accounting standards for publicly traded US firms – hasn’t yet decided if it will develop new guidelines for companies dealing with bitcoin and other cryptocurrencies. However, the non-profit is apparently assessing whether it should begin that process following a request from the Washington, DC-based Chamber of Digital Commerce (CDC) – a trade organization for companies and groups working in the digital currency and blockchain space. In a letter to the board, dated June 8, CDC founder and president Perianne Boring argued that the lack of standards is cre
Ethereum Classic Price Technical Analysis: $15 Support Turns into Resistance

Ethereum Classic Price Technical Analysis: $15 Support Turns into Resistance

PRICE ANALYSIS
Ethereum classic price followed ETH’s declining path versus the Bitcoin, and ETC/USD is currently facing a tough barrier near $15.00. Key Highlights Ethereum classic price followed ETH and declined heavily to trade near $12.00 against the US Dollar. There is a major bearish trend line with resistance at $14.50 formed on the hourly chart of ETC/USD (Data feed via Kraken). The price is currently correcting higher, but facing a major resistance near $15.00. Ethereum Classic Price Continued to Decline This week turned out to be super bearish for ETC price as it moved below a major support area of $15.00 against the US Dollar. The downside move was sharp, as the price declined towards $12.00 and traded as low as $11.95. It seems like the recent pressure on ETH/USD and BTC/US
Ethereum Price Technical Analysis: Many Hurdles Ahead

Ethereum Price Technical Analysis: Many Hurdles Ahead

PRICE ANALYSIS
Ethereum price remains in a downtrend against the US Dollar and Bitcoin, and a recovery in ETH/USD won’t be easy in the near term above $210. Key Highlights ETH price declined further and moved below the $180 level against the US Dollar. Yesterday’s highlighted two bearish trend lines with current resistances as $190 and $210 on the hourly chart of ETH/USD (data feed via SimpleFX) are intact. On the downside, the recent low at $168 may provide support in the short term. Ethereum Price Resistance There was no relief for buyers as ETH price continued to move down and traded below $180 against the US Dollar. A new weekly low was formed at $168.58 from where a minor recovery was started. The price traded above the 23.6% Fib retracement level of the last decline from the $23
Bitcoin Price Technical Analysis: Might Be Due for Another Pullback

Bitcoin Price Technical Analysis: Might Be Due for Another Pullback

PRICE ANALYSIS
Bitcoin price is testing recent lows after its brief correction, signaling that bearish momentum is still in play. Bitcoin Price Key Highlights Bitcoin price resumed its selloff after completing a quick pullback off its recent slide. Applying the Fibonacci extension tool on the correction move shows the next downside targets. Price is currently bouncing off the 50% extension and might be due for another pullback. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA so the path of least resistance is to the downside. The gap between the two is widening to reflect stronger selling pressure. In addition, the 200 SMA lines up with a descending trend line connecting the highs since the start of the month, and this could act as the last line of defense in...
Cryptocurrency Bloodbath! Sell Everything We Were Totally Wrong!

Cryptocurrency Bloodbath! Sell Everything We Were Totally Wrong!

THE DOLLAR VIGILANTE
Just kidding. The cryptocurrencies have taken a big hit in the last few weeks, however, just as we said they would. On June 11th, bitcoin stuck its nose just above $3,000 and is currently near $2,377 for a pullback of 20%. Ethereum, which I warned on numerous occasions had gone way too high, way too fast, touched $400 on June 13th and fell below $200 this morning. On June 26th I wrote, “Vitalik Buterin Death Hoax Brings To Light Risks In Ethereum”. In that article I said how we had been telling subscribers to take profits on all cryptocurrencies, especially the altcoins, and Ethereum. Another call that turned out to be very prescient. The total market cap of all cryptocurrencies, including bitcoin, hit a high of $112 billion on June 11th and is currently near $82 billion
Major Chinese Exchange BTCC CEO Address the Need for Cryptocurrency Regulation

Major Chinese Exchange BTCC CEO Address the Need for Cryptocurrency Regulation

ADOPTION
The BTCC CEO Bobby Lee addresses the need for cryptocurrency regulation saying it could “run amok from society” if measures are not implemented. In an interview with CNBC’s “Squawk Box”, Bobby Lee, CEO of BTCC, one of China’s primary cryptocurrency exchanges, explained that a well thought out regulatory approach is needed to address exactly where Bitcoin and the rest of cryptocurrency stands. “I think regulation is much needed for this new asset class because otherwise, it’ll run amok from society,” warned Lee. The challenge is how to craft the rules around this new technology, it’s taking the lawmakers and regulators some time to wrap their minds around it, and to come up with the appropriate rules and laws to govern companies, how we do business, to govern individuals (and) ho