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Blockstream launches new premium bitcoin wallet: Blockstream Green

Blockstream, the blockchain, and bitcoin technology company, today revealed the launch of its brand new bitcoin wallet, Blockstream Green. Green is a major update to Blockstream’s GreenAddress wallet. Rebuilt from the...

Analyst: Large Scale Investors Interested in Bitcoin Despite Current Prices

Although Bitcoin is sitting just above its year-to-date low at $6,300, analysts are confident that large scale investors are still interested despite the persisting bear market. Industry sentiment also appears to be near its yearly low, with most investors and analysts calling for pending drops closer to $4,800. Despite there being little hope for another major rally in the foreseeable future, institutional and large-scale investors are still interested in the markets, according to Naeem Aslam, chief market analyst at Think Markets U.K., reports Market Watch. “On the OTC (over-the-counter) front we are still seeing significant demand, many of it large orders, buying both bitcoin and ethereum at these levels. However, on the retail front, they are more in panic mode.” Aslam’s analysis of the institutional demand for cryptocurrency is supported by the sheer number of institutions beginning to offer cryptocurrency products. Recently, reports surfaced claiming that Citigroup was working on a cryptocurrency custodian investing solution that would operate similarly to American depository receipts, allowing institutions to invest in Bitcoin through a fully regulated product that is secure from risk of hacking. Morgan Stanley also announced plans to offer a similar product. Alistair Milne, the chief information officer at Altana Digital Currency Fund, discussed the growing interest in cryptocurrencies by major financial institutions, noting that institutional demand is important for future cryptocurrency prices, saying: “Goldman, Citibank, ICE. Now Morgan Stanley. All launching Bitcoin products and services because there’s no institutional demand. Institutional money took the hedge fund industry from $300 billion to $6 trillion.” SEC Bitcoin ETF Decision the Most Immediate Catalyst for a Major Bitcoin Price Move Bitcoin has been ranging between $6,200 and $6,600 for the past week, following a move down from its previous uptrend, where it rose from $6,300 to $7,300 before falling back to $6,200. Despite the current stability, investors are waiting for the upcoming U.S. Securities and Exchange Commission (SEC) announcement regarding the Bitcoin ETF before placing any major trades. The SEC will be announcing their decision on the CBOE VanEck/SolidX ETF on September 30th, and investors are placing a significant amount of stock on the results of the ruling. Many familiar with the application and the SEC’s approval framework have claimed that the VanEck/SolidX ETF is the most likely of all the previous applications to be approved. If the SEC does approve this Bitcoin ETF, market sentiment will surge on the hopes that institutional and retail investments will rise, leading to a surge in Bitcoin prices and the overall cryptocurrency markets. If their decision is to deny or delay the application, however, the markets will respond negatively, with Bitcoin leading a temporary price crash that will pull the overall markets down. Once institutional products begin being released by the aforementioned banks, they will likely impact the prices as well. Featured image from Shutterstock. The post Analyst: Large Scale Investors Interested in Bitcoin Despite Current Prices appeared first on NewsBTC.

Crisis at Crypto Exchanges? Bithumb Announces Cut in Workforce

Following a series of recent layoffs and closures within the industry, top Korean exchange Bithumb follows suit by announcing it will cut its workforce in half by the end of...

Crypto Market Rebounds: Litecoin (LTC), Bitcoin Cash, Tron (TRX), ADA Price Analysis

The total crypto market cap is showing signs of a recovery above the $108.50B support level.Litecoin (LTC) price is gaining momentum and it could trade above the $35.00 resistance.Bitcoin cash...

3 Technologies Could Shape the Future of Luxury

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As Bitcoin (BTC) Nears Historic Bounce Levels, Could the Crypto Winter Be Coming to...

Bitcoin has now firmly established its position in the low-$4,000 region, which was previously a strong resistance level for the crypto. Although this current stability is certainly positive for investors,...

A Privacy-Focused Bitcoin Cash P2P Exchange Is Coming to Bitcoin.com

Bitcoin.com is always been on a quest to promote Bitcoin...

Bitmain Reportedly Plans to Install 200,000 Crypto Miners in China

Crypto mining hardware maker Bitmain is planning to utilize its inventory devices for mining crypto.According to a Coindesk report published on March 21, the Chinese miner manufacturer will deploy around...

Bitcoin Price Manipulation Steers World’s Top Crypto in Difficult Direction

Bitcoin is a notoriously volatile market. Massive price swings occur on a regular basis and cause a fair bit of negative market pressure. One of the main questions is whether or not there is effectively any degree of Bitcoin price manipulation taking place. The proof is in the pudding, but it remains difficult to say for sure. The Wild Bitcoin Price Swings Over the past nine years, there have been many debates regarding the Bitcoin price. It is an extremely unstable market, which tends to see ups and downs when people least expect it. To some users, this is a clear sign of market manipulation. Others see it as “another day at the office”. In a lot of cases, the BTC price is fluctuating for no apparent reason at all. Financial markets, in general, seem to be prone to manipulation. It has happened before, and it will continue to happen for some time to come. People with a lot of money to spend will look for any way to improve their portfolio. This is no different in the world of cryptocurrency, which is perhaps even easier to manipulate, to a certain degree. More specifically, all cryptocurrencies have a rather low market cap. Albeit $150 billion sounds pretty steep for Bitcoin, it is a small market compared to traditional assets. Anyone looking to influence cryptocurrency prices will effectively manipulate the markets whenever they see fit. Proving this is done on a large scale, however, will always remain rather challenging. The Manipulation Will not Stop The US Justice Department is looking into Bitcoin price manipulation right now. Whether or not they will find anything out of the ordinary, remains to be seen. Even so, indicting anyone for this manipulative behavior will pose another big problem. Large holders of Bitcoin can effectively influence the market with a few clicks of a button, but that isn’t necessarily nefarious intent. Very few people benefit from a lower Bitcoin price. Miners need a specific BTC value to break even, let alone make a profit. Large holders of Bitcoin are not inclined to see their portfolio value drop either. Exchanges have no real benefit from a lower Bitcoin price either. As such, there is plenty of circumstantial evidence regarding cryptocurrency price manipulation. Not enough to effectively change this situation overnight, unfortunately. For the time being, it remains to be seen what the future holds for the Bitcoin price. Rest assured the manipulation will not stop, for better or worse. Those driving the price down will continue to do so until they are satisfied. The ultimate objective of doing so remains a bit unclear at this stage. An uneasy Bitcoin price situation will remain in place for quite some time to come. Image from Shutterstock The post Bitcoin Price Manipulation Steers World’s Top Crypto in Difficult Direction appeared first on NewsBTC.

Seed CX Launches New Currency Pairs for Institutional Clients

Institutional cryptocurrency exchange operator Seed CX announced the launch of several new currency pairs this Tuesday.Traders on the exchange can now access bitcoin cash (BCH) / USD and litecoin (LTC)...

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