Overnight, Bitcoin fell to the bottom of its long-established trading range, finding stability in the mid $6,300s. Bitcoin’s drop is not unexpected, and is far less severe than many analysts had foreshadowed, following a period of incredibly flat trading. Analysts have previously explained that the longer an asset, especially a cryptocurrency, trades flat, the larger the proceeding move will be.
The UK could compromise its fintech sector with “very blunt instrument” regulation currently under consideration, a new report from several industry entities warns. ‘Ashamedly Geared Around Bitcoin’ As local news outlet the Telegraph reports October 29, the report criticizes plans to award more power to regulator the Financial Conduct Authority (FCA) and says treating all cryptoassets in the same way
The conducive developments in South Korean crypto space have boosted fiat influx into the market, reveals this month’s data. eToro eanalyst Mati Greenspan pitted Korean Won against the most volumed bitcoin-quoted assets, including the US Dollar, Euro, the Pound and also Tether. The comparison revealed a dramatic surge in the BTC/KRW trading volume compared to other instruments that remained mostly stable throughout
As Bitcoin (BTC) closes out the week and moves towards the end of October, we take a look at what’s going on with price action in what has been an anticlimactic month. 4 Hour Chart Bitcoin had been firmly locked in a single trading range for over two weeks, with lows of $6450 and highs of $6490. This morning, we
On its birthday, a top exchange executive has wished Bitcoin a long, bullish life. Andy Cheung, the Head of Operations at OKEx, predicted “something good” as Bitcoin market continues to trend calmly amidst a global stock market sell-off. He pointed at two significant events to show the digital currency’s evolution. The first was when an individual had purchased a pizza
Bitcoin’s monetary velocity is at its lowest point in eight years, and investors should be “realistic” about the chances of the 2018 bear market ending in the medium term. Echoes Of The Dawn Of Bitcoin Speculation That was the message from data analyst Willy Woo October 29, who uploaded new data tracking quarterly velocity for Bitcoin versus USD money supply.
Key Points Bitcoin price is trading above the $6,385 and $6,355 support levels against the US Dollar. There is a crucial contracting triangle formed with resistance at $6,420 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could slide towards the $6,355 support if there is a break below $6,400 and $6,385. Bitcoin price is
Gab.ai, the social messaging platform born in 2016 as an answer to the “Big Social Monopoly” of extant social media giants, has lost access to its PayPal account. PayPal: Gab Should ‘Find Alternative’ Gab, which in June saw itself unexpectedly banned from US cryptocurrency exchange and wallet provider Coinbase, did not receive an explanation from PayPal, the company’s decision being
Tom Jessop, President of Fidelity Digital Asset Services says that the asset manager will take crypto to the next level by enhancing the sector and providing a secure Bitcoin custody solution so institutional investors can get a piece of the crypto pie. Bitcoin Custody Solution Will Remove Barrier In the most recent episode of her Unconfirmed podcast, Laura Shin interviewed
LocalBitcoins is a good yardstick for measuring bitcoin usage on a country by country basis. A new analysis dives deeper than ever before into the data, considering metrics that have previously been overlooked. Locally Sourced Produce Though the majority of bitcoin activity occurs via online exchanges, country-specific data is hard to come by. LocalBitcoins does separate trade volume data by country but