Singapore’s Central Bank, JP Morgan To Develop Blockchain-based Cross-Border Payments System

November 11th, 2019

Singapore’s Central Bank, the Monetary Authority of Singapore (MAS) has partnered with investment banking giant JP Morgan and developed a blockchain prototype for cross-border payments.  Payment Settlements Using Different Currencies On Single Network The prototype will enable payment settlements using different currencies on the same network. For the same, Temasek, an investment firm owned by…

Bitcoin Price Fails to Hold Above Weekly Close, $5 Mln Longs Liquidated on BitMEX

November 11th, 2019

Bitcoin rose $200 on Sunday as price broke above $9000. The psychological positive move along with green across the entire crypto market raises the sentiments of most traders towards the year-end. However, it fails to hold the bullish psychological as the price has fallen back to $8950 levels. The price of Bitcoin [BTC] at 4: 30 hours…

China’s State Newspaper Recognizes ‘Bitcoin’ in a Bittersweet Symphony

November 11th, 2019

The most prominent and influential state-run news agency in China, Xinhua (‘New China’), just published an article on Bitcoin and blockchain. The title of the article, Bitcoin: The First Successful Application of Blockchain, looks positive. However, when one goes through the material, it leaves a bitter after taste. Xinhua article on Bitcoin: The First Successful…

Is Bitcoin Running Out of Bullish Arguments Due to Stock Market Rally?

November 9th, 2019

Bitcoin price plunged below $9000 mark yet again. What looked like a possible break above $10,000, has turned into longer days of consolidation. The narrative for Bitcoin [BTC] investment has taken many shapes and forms over the years. After its failure as a payment mechanism in 2016-2017, the ‘safe haven‘ narrative has become wildly popular….

Bitcoin Price Goes South of this Critical Level, but Traders Expect a Bounce Soon

November 9th, 2019

Bitcoin price dipped below $9000 and the 200-Day Moving Average yesterday. Bulls, however, seem unnerved by the dip. The fear and greed index dropped slightly on the decline. However, unlike last time when BTC dipped below $9000, the sentiments seem more in the neutral range. Bitcoin Fear and Greed Index (Source) The price of Bitcoin…

Bitmain Civil War: Expelled Co-Founder Sends Open Letter to Bitmain Employees; Planning a Comeback Soon

November 7th, 2019

The Bitmain civil war continues. Ousted co-founder of the company, Micree Zhan has responded to the event with an open letter to the employees, sharing that he will return to the company soon and restore “normal order in the company”.  Micree Zhan is Embarrassed The Bitmain drama came to light in the last week of…

Hong Kong’s Securities and Futures Commission (SFC) to Set a New Regulatory Framework For Crypto

November 6th, 2019

In late 2018, the Hong Kong Securities and Futures Commission (SFC) introduced licenses to cryptocurrency funds and related investment managers allowing them to sell digital asset products to their customers. One year in since the announcement, a number of fund managers have complained that the authorities are frustrating their efforts to carry out their businesses….

Ray Dalio’s Warning of Economic Crisis like 2008 Echoes with every Bitcoin Investor

November 6th, 2019

Ray Dalio, leading economist and founder of the world’s largest hedge fund, Bridgewater Associates, recently published his views on the current global economy. The title of the article was alarming enough – The World has Gone Mad, and the System is Broken. He raised critical economic issues in the world that “is unsustainable and certainly can…

Ethereum Co-Founder Joseph Lubin Explains Why Facebook Should Not Lead Libra

November 5th, 2019

Joseph Lubin, co-founder of Ethereum in a recent interview commented that Facebook should not lead the Libra cryptocurrency project.  Facebook’s Past – A Major Roadblock for Libra’s Success In an interview with CNBC, he said that with all concerns regarding trust and personal identity, Facebook should not be spearheading the Libra project. Lubin further said that…

XBT Analysis: Bitcoin Stopped Short Of $9,600 Is $9,200 Still A Buy Zone For BitMEX Margin Trading

November 5th, 2019

Bitcoin reacted incredibly well in the American session on Monday. The price action jumped above several key resistances, some of which I discussed yesterday. The initial step above $9,200 encouraged Bitcoin longs’ traders to bet on a higher price. Bitcoin scaled the resistance at $9,400 and $9,400 respectively. However, liquidations could not allow the contract…