Key Points Bitcoin price is still struggling to clear the key $6,520 resistance zone against the US Dollar. There is an important bullish trend line in place with support at $6,430 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently at a risk of a bearish reaction towards…
A new report reveals that the majority of cryptocurrency and blockchain projects are centralized. Majority of Cryptocurrencies Can Be Classified as Centralized, Securities Cryptocurrency research firm CryptoCompare released its annual Cryptoasset Taxonomy Report, and their findings reveal that only 16% of cryptocurrencies are fully decentralized. The remaining cryptocurrencies reviewed are either centralized, or only semi-decentralized,…
The discussion of an existing correlation between stocks and Bitcoin continues. Having been found to move in tandem during short periods, both asset classes have experienced gains in 2017 and losses in early 2018. Their common ground, however, may boil down to sentiment. Correlation Between Stocks and Crypto Only Found over Short-Term Traditional assets, such as stocks,…
An oversold market makes the best time to enter. And experts believe it is happening with crypto industry as it retains a yearly bearish bias. The significant dip seen in 2018, followed by consecutive strong rebounds from a specific bottom area has upped medium-term bullish sentiments in the crypto market. Bitcoin, the cryptocurrency with the highest dominance,…
Key Points Bitcoin price revered yesterday’s gains and traded below the $6,500 support against the US Dollar. There is a short-term ascending channel in place with support at $6,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could dip towards the $6,340 or $6,320 support before moving back higher.…
Despite recently retracting his bullish claims that Bitcoin will surpass $10,000 by year’s end, Mike Novogratz still expressed that institutions are still poised to enter the crypto industry. Fidelity, BitGo, Bakkt Custody Solutions Will Bolster Adoption Per previous NewsBTC reports from Monday, Fidelity Investments, a financial giant with over $2.5 trillion worth of client assets under…
In 2014, a group of developers launched a cryptocurrency with the ambitious aim of solving the problem of price volatility. Tether was the first so-called 'stablecoin', with the idea being that each token issued would be backed by one US dollar. For a while it seemed to work. Major cryptocurrency exchanges like Bitfinex adopted tether as a medium of…
The U.K.’s oldest cryptocurrency exchange has become the first company to be licensed by Gibraltar’s progressive blockchain legislation. The rules are a first for Europe and highlight the British Overseas Territory’s commitment to exploring technological innovations. Gibraltar Focusing on “Quality Not Quantity,” Coinfloor Proves Itself Worthy According to a report in the Financial Times, Coinfloor…
Fidelity Investments has announced that it’s launching a new cryptocurrency trading arm, called Fidelity Digital Asset Services, that will handle cryptocurrency custody and trading for its customers. Fidelity Investments Announces Fidelity Digital Asset Services Today, Boston-based asset manager responsible for $7.2 trillion in customer assets, Fidelity Investments, revealed a separate new branch focusing on cryptocurrencies…
A mass exodus from the most popular dollar-pegged stablecoin Tether (USDT) has led to its devaluation against peer stablecoins. USDT on Monday broke away from its historically tight link with the US Dollar to touch 85 cents across multiple crypto-exchanges. As a result, a substantial USDT volume shifted to other cryptocurrencies, including Bitcoin, raising their…