Please share if you find this article interesting. Twitter Reacts to 'Black Tuesday' The cryptocurrency market took an absolute hammering on Tuesday, Jan. 16 in what is being described as ‘Black Tuesday.’ Bitcoin and various altcoins suffered over 40 percent losses in market capitalization on Tuesday amid regulatory uncertainty in South Korea and China. The FUD led to a black day for cryptocurrency markets - arguably worse than the massive price correction that hit Bitcoin in the lead up to Christmas, after it had hit an all-time high of $20,000. As per usual, crypto enthusiasts from all walks of life took to social media to share their thoughts, hopes and fears amid another shaky day in the world of cryptocurrencies. Calls of #HODL ring clear Canadian twitter user Armin van Bitc
Please share if you find this article interesting. Despite Regulations, One South Korean Crypto Exchange Rises to the Global Top - Bitcoin News Featured Amid regulatory uncertainty, South Korean cryptocurrency exchange Upbit has grown rapidly, offering 121 cryptocurrencies and over 200 trading pairs. Backed by Kakao Corp, the platform is now the largest crypto exchange by volume globally. Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading Upbit Tops the Chart South Korean cryptocurrency exchange Upbit provided its trading data to Coinmarketcap for the first time on Tuesday. The Kakao-backed exchange debuts as the world’s largest crypto exchange by volume. Upbit’s 24-hour trading volume at the time of writing for all coins is $6.43
Please share if you find this article interesting. Venezuela Considers Selling Its ”Oil-Backed” Cryptocurrency With a 60% Discount - Bitcoin News Featured The advisors of the Venezuelan government have recommended that the country’s oil-backed cryptocurrency, the petro, be sold in private placements at a discount of up to 60 percent. 38.4 million petros, with a face value of around $2.3 billion, could go on sale starting on February 15. Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading Private Placements of Discounted Petros The newly-formed advisory group to the Venezuelan government, VIBE, has reportedly provided a recommendation on how to start selling the country’s oil-backed cryptocurrency, the petro. The group consists of c
Please share if you find this article interesting. As Bitcoin's Slide Continues, Prices Look Towards $8K Bitcoin looks like it might soon test near-$8,000 levels, as December's record-breaking rally continues to unravel. With major losses over the last few days seemingly brought about by negative regulatory news from China and South Korea, bitcoin (BTC) is trading at $10,280 levels at time of writing, according to Coindesk's Bitcoin Price Index. A slight recovery from the 1.5-month low of $10,064 hit yesterday ran out of steam at $11,698 at 00:20 UTC today, and price once more started to drop. The cryptocurrency has depreciated by 14.35 percent in the last 24 hours, according to data provider CoinMarketCap. With the indicators still all in bearish territory, the technical charts ...
Please share if you find this article interesting. South Korean Petition Against Crypto Regulation Gets 200K Signatures, Government Must Respond Tuesday morning, Jan. 16, a South Korean petition against the regulation of virtual currency reached the amount of signatures required to compel a response from the government. The online petition calling the government to reconsider its stance on cryptocurrency regulation was started on the website of the South Korean presidential office on Dec. 28. On January 16, the petition obtained more than 212,700 signatures. According to the website of the presidential office, the minimum required for a government response is 200,000, thus officials are expected to react to the requests listed in the petition in the next 30 days. The petition ask...
Please share if you find this article interesting. World’s Fourth Largest Bank MUFG To Launch Own Cryptocurrency In 2018 Japan’s Mitsubishi UFJ Financial Group (MUFG), the fourth largest bank in the world, will launch its own digital currency MUFG coin, local news publication Mainichi.jp reported Sunday, Jan. 14. MUFG is the largest financial company in Japan and is set to become the first Japanese bank to issue a virtual currency, Mainichi.jp reports. The bank had plans to develop a cryptocurrency as far back as 2016. According to Mainichi.jp, the launch date has now been finalized and is intended to take place in the FY 2018. Based on Blockchain technology, MUFG coin will allow users to conduct instant person-to-person transactions as well as shop with lower fees. MUFG stated t
Please share if you find this article interesting. Crypto Bloodbath Leaves Altcoins Swimming in a Sea of Red - Bitcoin News Markets and Prices Anyone glancing at their Blockfolio app on Tuesday morning would have been in for a rude awakening. With every single cryptocurrency drowning in a sea of red, newcomers could have been forgiven for feeling a little queasy. A drama-filled day, dominated by negative news from South Korea and China, saw bitcoin fleetingly kiss four figures on some exchanges before rebounding sharply. On Wednesday, BTC fell to $10k once again, joining altcoins that are mired in the red. Also read: Markets Update: The Top 68 Cryptos Dive During the January Slump Bitcoin Hits Rock Bottom 2018 is scarcely older than a fortnight and already it’s shaping up t
Please share if you find this article interesting. Bitcoin Declined by 30% Five Times in 2017, Recent Correction is Tolerable As CNBC Africa’s CryptoTrader host and producer Ran Neuner noted, bitcoin declined by 30 percent on five different occasions in 2017. This month’s 20 percent correction in bitcoin is tolerable, given the major corrections it had experienced in the past 12 months. Major Correction Other major cryptocurrencies such as Ethereum and Bitcoin Cash also recorded corrections in the 50 percent range last year, with the price of Ether, the native cryptocurrency of Ethereum, dropping from $360 to $130. Since then, Ether has surpassed $1,000, and surpassed $2,000 in the South Korean cryptocurrency exchange market. Ethereum co-founders Vitalik Buterin and Charles Hosk
Please share if you find this article interesting. Bitcoin Gold Price Technical Analysis – Can BTG/USD Hold $150? Key Points Bitcoin gold price declined further and it failed to stay above the $200 level against the US Dollar. There is a short-term connecting bearish trend line forming with resistance at $185 on the hourly chart of BTG/USD (data feed from Bitfinex). The pair is currently holding $150, but it is struggling to stay above the mentioned support. Bitcoin gold price broke a major support area at $150 against the US Dollar. BTG/USD could correct higher, but upsides remain capped by the $200 level in the near term. Bitcoin Gold Price Resistance There was no major recovery above $220 in bitcoin gold price against the US Dollar. The price faced a lot of selling pressure an
Please share if you find this article interesting. Ripple Price Technical Analysis – XRP/USD Struggling to Hold $1.00 Key Highlights Ripple price made a sharp downside move and broke the $1.00 support against the US dollar. There is a crucial bearish trend line forming with resistance at $1.50 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently struggling to hold the $1.00 level and it may decline back towards $0.8500. Ripple price is struggling a lot against the US Dollar and Bitcoin. XRP/USD might decline further and it could retest the $0.8500 support area. Ripple Price Trend There was no respite for buyers as Ripple price extended its decline from the $1.2000 swing high against the US Dollar. After a minor correction towards the $1.50 leve