After a precipitous Bitcoin (BTC) price drop to $7,800 — a level which analysts have said will make or break the cryptocurrency bull run — on the weekend, investors were running scared. Related Reading: Bitcoin Price: Reclaiming Important Moving Average Could Lead to Retest of Highs But at the 11th hour, when all seemed lost,…
While Bitcoin has assumed many mantles over the years — digital gold, magical internet money and a currency for criminals, just to name a few — it has always been seen as a way out of the corrupt facets of the traditional world, be that overreaching governments or fraudulent economies. Related Reading: Novogratz: Billionaires Disappearing…
PayPal has withdrawn its support for Facebook‘s Libra cryptocurrency, following significant regulatory scrutiny of the project. The online payments firm was part of the Libra Association - a 28-member nonprofit organisation set up to oversee the roll-out of the cryptocurrency next year. Without elaborating on why PayPal had withdrawn its support, a spokesperson for PayPal said…
Another week, another of Crypto Tidbits. After last week’s collapse, Bitcoin (BTC) took some time to settle, finding itself trading in the low-$8,000s for an extended period of time. Analysts are currently divided over what this consolidation means for the cryptocurrency market’s short-term future, with some even arguing that this is a precursor to another bear…
European NGOs have launched a petition against Facebook’s recently-detailed crypto asset-like digital currency, Libra. The effort seeks to make EU policy makers aware of apparent public resistance to the plans. So far, more than 55,000 individuals have signed the petition. However, any attempt to outright ban an entirely voluntary alternative to a jurisdiction’s official currency…
In a letter to Jerome Powell, two congressmen have asked the Federal Reserve chairman to consider developing a US-backed cryptocurrency. In short, they believe this is necessary to keep pace with the rest of the world. However, Powell has previously poured cold water on the idea of a digital dollar. And he’s not alone in…
After last week’s bloodbath, it seems that the Bitcoin price has started to settle. As of the time of writing this (Thursday morning), BTC has found some stability around $8,350, trading up 2% on the day. Altcoins have also started to stabilize and flip green, following in the footsteps of the market leader. Analysts say…
Facebook’s plan to launch its own cryptocurrency next year is under threat after key partners shed doubt on the project. Mastercard, Visa, PayPal and Stripe are reconsidering their involvement with the Libra cryptocurrency, according to various reports, due to the significant regulatory scrutiny it has attracted from around the world. Since first announcing the Libra cryptocurrency earlier this year alongside a…
A fire at a major bitcoin mining farm in China has destroyed millions of dollars worth of equipment, according to reports. The incident took place on Monday at a data centre operated by Innosilicon, according to bitcoin mining expert Marshall Long, who posted pictures of the fire on social media. Dovey Wan, a founding partner at cryptocurrency…
Bitcoin has experienced huge price drops in recent days, with the cryptocurrency tumbling by more than $2,000 (£1,600) to take its value below $8,000 for the first time since June. It has since recovered slightly but many investors remain cautious about bitcoin’s short-term prospects. Others, however, remain convinced that the cryptocurrency will continue to see…