According to Shanghai Hongkou District Court’s statement in a recent crypto-related case, Ethereum and other virtual currencies are not considered as money. However, they are still protected by the law which views them as “property.” Old Case Brings New View on Cryptos in China One of the attempted crypto transaction between an individual investor and…
Bitmain, the world’s largest crypto mining equipment manufacturer, has filed for an initial public offering (IPO) with the Hong Kong Stock Exchange (HKSE) after recording staggering year-on-year growth. In 2017, the Chinese firm brought $2.5 billion in revenues and in the first half of this year, the revenue reached $2 billion. Ideally, Bitmain should appeal…
Key Points Bitcoin price surged higher and broke the $6,540-50 resistance area against the US Dollar. Yesterday’s highlighted important bearish trend line was breached with resistance at $6,495 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now placed well above the $6,580 pivot level and it could accelerate…
Crypto analysts and investors have established the $8,800 resistance level as a short-term target for Bitcoin, based on the optimistic technical indicators of the dominant cryptocurrency. Bitcoin Rally Ahead? Most of the predictions on the short-term rally of Bitcoin originated from data provided by RIG trend lines — an indicator that combines the Relative Strength…
A federal judge stated yesterday that digital currencies should be viewed in a legal capacity as commodities. This will continue to give the U.S.’s CFTC the right to police accusations of fraud in the cryptocurrency space. Bitcoin’s Futures Contracts Make All Virtual Currencies Commodities in the US The decision was made on Wednesday in a…
Key Points Bitcoin price recovered recently, but it failed to break the $6,540-50 resistance zone against the US Dollar. There is a crucial hurdle formed near $6,540 and two bearish trend lines on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair needs to break the $6,540 resistance and the 100…
With the recent increase in popularity of the blockchain technology, many believe that it is only a matter of time before this tech enters the mainstream. However, to do that, it will first need a catalyst, and many have been wondering for a while just what that might be. According to Loom Network’s recent Medium…
With Bitcoin and other cryptocurrencies making huge sums of money for those adept at timing the market, the U.S. Internal Revenue Service (IRS) is keen to make sure it receives its cut of the profits. However, a lawyer from Morgan Lewis & Bockius states that many users do not realise that even when they have…
It doesn’t matter if you are a Grammy Award-winning musician or a video producer with less than a hundred followers. The moment you publish your work – it starts getting segregated. Content creators have been silently siphoning off a huge part of their earnings to several sets of hands. When an individual watches or purchases their…
A Queensland Univerity professor has attempted to debunk the theory which accused stablecoin Tether issuance model of manipulating the Bitcoin value. Tether Not Responsible In his report, Dr. Wang Chun, Ph.D., Finance, discussed how he constructed a Vector Autoregression, or VAR, model to prove that Tether never played a catalyst to Bitcoin’s super-normal rally towards…