Bitcoin

Germany Enters Recession as Over 100 Banks Charge Negative Interest Rates

May 18th, 2020

Germany has plunged into a recession with the worst quarterly contraction since the global financial and economic crisis of 2008, according to official data. Over 100 banks in the country are now charging customers negative interest rates. Germany Enters Recession The German economy is now in a recession according to data released Friday by the…

Visa Files Patent for Cryptocurrency System to Replace Cash

May 15th, 2020

Visa International has filed for a cryptocurrency system patent that is meant to replace physical currency. The system, which utilizes both central banks and commercial banks, leverages a private blockchain to improve the payment ecosystem. Visa’s Cryptocurrency Patent Filing The United States Patent and Trademark Office (USPTO) published on Thursday a patent application entitled “digital…

Bitcoin Price Analysis: BTC/USD $10,000 Beckoning But Be Aware Of This Rising Wedge Pattern

May 14th, 2020

Bitcoin price draws near to $9,500 but stalls under $9,400 to gather strength for the next run tom$10,000. If Bitcoin stays under $9,500 longer sellers could take advantage of the rising wedge patter to force a reversal. After Bitcoin was rejected from the levels above $10,000 last week, it embarked on a crucial journey in…

$2 Billion Cryptocurrency Hedge Fund Industry Set to ‘Grow Significantly’

May 13th, 2020

Cryptocurrency hedge funds’ assets under management have been increasing significantly, rising to more than $2 billion at the end of last year, according to a recent survey. The crypto hedge fund industry is expected to “grow significantly” along with the price of bitcoin. Hedge Funds’ AUMs Doubled in 2019 Cryptocurrency hedge funds’ assets under management…

Up to 30% of Bitcoin Miners Close Shop as Business Turns Unprofitable After Halving

May 11th, 2020

About a third of Bitcoin (BTC) mining firms may already be switching off their machines as the business becomes unprofitable due to a reduction in mining rewards. The third Bitcoin halving – consummated earlier today – reduced supply of the pioneering cryptocurrency, cutting the bonus paid to miners for solving mathematical puzzles that underpin the…

Bitcoin Price Analysis: Did Investors Get The Reversal They Wanted? – Will BTC/USD Rally After Halving?

May 11th, 2020

Bitcoin pre-halving selloff allows more investors to join the market to capitalize on a possible post halving rally. BTC/USD technical picture hints that consolidation is likely during the halving process. Bitcoin price plunged from levels around $10,000 over the weekend session. While most traders were bullish on the largest cryptocurrency being able to sustain gains…

Scam Exchanges Haunt Short and Long-Term Price Action

May 11th, 2020

The sudden crash in Bitcoin [BTC] on Saturday shook out many over-leveraged perpetual swap positions with over $250 million in long liquidation on BitMEX alone. Since the crash occurred 2 days prior to the Bitcoin halving, most suspect front running of the halving sell-off. Nevertheless, the magnitude of the drop was significant in a very…

Coinbase Down As Bitcoin Crashes Towards $8,000, Halving Fears?

May 10th, 2020

It has happened again. The skyrocketing price of Bitcoin (BTC) to $10,000 has been halted less than 48 hours to the halving leading to the collapse in Coinbase servers as an influx of sell orders floated on the platform. This is the second time in less than a fortnight that the exchange is fumbling the bag in…

Bitcoin Mining Markets Heat Up: Ebang’s $41M Deficit, Bitmain’s Alleged 2020 Revenue

May 10th, 2020

The Chinese ASIC mining rig manufacturer Bitmain reportedly pulled in $300 million in revenue during Q1 2020. Meanwhile, as Bitmain claims to be regaining market share, the firm Ebang recently applied with the U.S. Securities and Exchange Commission (SEC) for initial public offering (IPO) status. However, the prospectus sent to SEC shows that while Ebang…

Cointext CTO Reveals a New Protocol That Aims to Bolster a Censorship-Resistant Economy for Bitcoin Cash

May 8th, 2020

On May 7, the Cointext CTO and cofounder of Countermarkets, Vin Armani revealed a new project he’s been working on called “Signal, Watch, and Pay Protocol” (SWaP). Armani’s published specification and reference code of SWaP indicates that the platform allows “onchain, peer-to-peer negotiation and execution of ‘collaborative transactions.’” SWaP: Onchain, Trustless, and Collaborative Transactions Vin…