Wait for Clear Bull Trend before Buying More Cryptocurrency

Wall Street strategy firm Fundstrat Global Advisors is among the mainstream financial industry’s biggest long-term cryptocurrency bulls. However, the firm is advising clients to hold off on buying more bitcoin — at least for right now. Writing in a recent note to clients, Fundstrat technical strategist Robert Sluymer said that investors seeking to increase their bitcoin holdings should wait for the market to make a clear trend reversal. “Investors should remain patient and wait for evidence of an improvement in ‘trend’ before increasing exposure,” wrote Sluymer in an excerpt of…

Crypto Online Transactions | UTRUST Wants to be the Paypal of Crypto

A Swedish company wants to make crypto online transactions as simple and as safe as using PayPal. But can such a feat be accomplished in such a volatile marketplace? Crypto Online Transactions The cryptocurrency market is still considered to be in its infancy, and many skeptics believe that, as a currency, it is hard to spend it day-to-day. Proof of this issue is that only 2% of online retailers accept crypto despite the increase in adoption for traders and businesses alike. Fear remains surrounding the volatile nature of a crypto’s price.…

Crypto Startup Pundi X Says That it Made the ‘First Blockchain Phone Call’

Having launched a crypto-based Point-of-Sale (POS) device earlier this year with the goal of making cryptocurrency payments easier on the go, Pundi X now claims to have made the first blockchain phone call, according to a recent Medium post by the company co-founder Pitt Huang. The call was made on the startup’s newest device, called the XPhone, at the ongoing XBlockchain Summit two-day event at the Inaya Putri, Bali. The XPhone is a blockchain phone that doesn’t use any centralized mobile carrier to function. It works on the Function X…

Coinbase Japan | Exec Says Crypto Crackdown in Country is Good Thing

Major US cryptocurrency exchange Coinbase said Japan’s tighter regulations towards cryptocurrency would give it an advantage, signaling the company’s confidence in securing the regulatory approval for Coinbase Japan. Japan has been long considered a crypto friendly country, compared to its neighbor China. The country has had a large pool of retail investors interested in blockchain technology and crypto and light-touch government policies. Due to high-profile hacks, Japan has decided to increase its regulatory oversight over the cryptocurrency industry. Coinbase Japan Mike Lempres, Chief Policy Officer at Coinbase, told the NIKKEI…

Ripple (XRP) and TRON (TRX) Prices Slide Despite Major Progress

The cryptocurrency market is trading in the red again today. Bitcoin (BTC) has just dipped below the $6,600 mark and Ethereum (ETH) is trading just above $225. Both Ripple (XRP) and TRON (TRX) are sliding down today, despite both announcing major news regarding their projects recently. Let’s take a closer look at Ripple and TRON and their latest project advancements. Ripple (XRP) Ripple concluded its Swell 2018 conference last week in San Francisco. #SwellbyRipple is a wrap for 2018! Thanks to all those who joined us in SF, and for…

Crypto Assets Pose No Risks to Financial Stability, International Bankers Claim

International central banks and financial officials think that cryptocurrencies pose no significant risks to global economic stability, according to a report published by the Financial Stability Board (FSB) Wednesday, Oct.10. The FSB — an international agency consisting of 68 local institutions such as central banks, watchdogs, and ministries of finance that prepares recommendations for global financial systems  — published a document called “Crypto-asset markets: Potential channels for future financial stability implications” with their findings. As per the report, the bankers see no significant dangers in cryptocurrencies, as their total market…

Bitcoin Price Technical Analysis: BTC/USD Extends Consolidation Action

The Bitcoin’s sideways action is gaining strength in what has so far been a quiet month. However, the digital currency, unlike its mainstream cousins, is displaying adequate volatility for day traders to enter and exit positions on attractive intraday profits. The focus remains firmly on the Securities and Exchange Commission’s take on the nine Bitcoin ETF applications it has received. Speculators believe the US regulator would eventually approve one of these drafts. The factor alone could be influencing traders to hold their aggressive short entries. Significant monies are not going…

BMW-Backed Blockchain Competition Offers Token Prizes for Auto Tech

The Mobility Open Blockchain Initiative (MOBI) has launched a development “tournament” to explore how vehicles will communicate, co-operate and transact in the smart cities of the near-future. The 4-month MOBI Grand Challenge kicks off on October 12, with a public demonstration of winning technologies to be hosted by BMW Group in Munich, Germany on next February. The prizes come in the form of blockchain tokens, which will drive next-generation mobility and data sharing: Ocean Protocol, a blockchain enabled data exchange protocol, has committed $1 million worth of token prize; and…

New Google Joke Advertisement Questions the Validity of Cryptocurrency as Money

Google entered the cryptocurrency-as-money debate on Tuesday, Oct. 9, arguing over its validity during an introductory video for a new feature from its Google Assistant tool. While demonstrating how its Call Screen caller ID function works, two Google presenters enter into a brief discussion about cryptocurrency in a spoof argument. The Call Screen shows the identity of an incoming call as being from the “electric company,” and the call’s purpose — Call Screen’s other feature — as one presenter’s “bill being super high.” “Cryptocurrency mining takes a lot of energy,”…

Gemini Taps Wall Street Exec to Attract Institutional Crypto Investors

Cryptocurrency exchange Gemini has hired another Wall street executive as part of its bid to attract more institutional clients. Announced in a press release, the New York-licensed exchange said that Jeanine Hightower-Sellitto – previously chief operating officer at the Nasdaq-owned International Securities Exchange (ISE) – is joining the firm as managing director of operations on Wednesday. Her role will focus on “supervising Gemini’s institutional onboarding and expanding client services team,” the company said. Prior to the new appointment, Hightower-Sellitto spent 13 years at ISE – a major U.S. options trading…