The central government initially wanted to regulate the bitcoin sector but changed its stand due to objection from the Reserve Bank of India (RBI), reports Business Standard. The Indian daily claimed that Economic Affairs Secretary Subhash Chandra Garg, who was heading the interministerial committee to study cryptocurrencies, favored regulating them. He looked at bitcoin as an…
The bitcoin price on Tuesday slipped below the psychological support level of $10,000. But according to market analyst Jacob Canfield, the asset is still inside a strong bullish bias. The TradingView author said bitcoin’s reversal from the $11,000 level on Saturday was a sign of a bull trap. Technically, a Bull Trap is a false…
The fallout from last week’s US senate hearings on Facebook’s Libra project is still being felt across the crypto ecosystem. Many are blaming the social media giant for Bitcoin’s recent correction but in reality it is just part of the natural rhythm of the market. Bitcoin Back at Four Figures Following a week of consolidation…
Bitcoin price failed to accelerate above $10,700 and declined recently against the US Dollar. The price broke the key $10,500 and $10,400 support levels to move into a short term bearish zone. There is a new bearish trend line forming with resistance near $10,350 on the hourly chart of the BTC/USD pair (data feed from…
According to a survey produced by financial services firm BankRate, Bitcoin and crypto do not represent a popular choice of investment vehicle for a decade or more amongst the US public. The findings show that just four percent of respondents preferred digital currencies over other more traditional investments. Beating Bitcoin, crypto assets, and everything else…
Bitcoin (BTC) prices are steady Over $1 billion lost to hackers Hacking is forcing thoroughness in cryptocurrency exchanges. Determined hackers have seen exchanges lose over $1 billion with Bitpoint the latest victim. At the time of writing, BTC is stable, but bears have the upper hand. Bitcoin Price Analysis Fundamentals There is always a risk…
Three days after Bloomberg published a report about BitMEX facing a regulatory investigation, the crypto derivatives exchange is still without an explanation. A quick look at the Seychelles firm’s official social media handles, including an otherwise active Twitter page of founder & CEO Arthur Hayes, shows no response about the current scandal. As BitMEX goes…
In around 300 days, Bitcoin (BTC) will experience what is known as a “halving” or “halvening”. This event, which occurs in predictable four-year cycles, sees the amount of the cryptocurrency issued every ten minutes halve, this time from 12.5 coins to 6.25 coins per block. Related Reading: Bitcoin Bears Ramp Up Selling Pressure as Weekly…
There is a growing trend across the world for nations to stock up on reserves of assets as a hedge against fiat and influences beyond their control. Gold is the standard but Bitcoin is rapidly catching up and one nation now has reportedly more BTC than their gold reserves. As further investigation reveals, however, this…
With a neutrally closing weekly candle traders and analysts are expecting this week to be a little livelier for Bitcoin. The weekend saw a little action but gains could not be maintained as BTC and altcoins fell back into their channels. No Progress Over $11k For Bitcoin Late Saturday/early Sunday saw BTC rise back to…