“99 Percent of Cryptocurrencies are Worth Zero”

The interview has been edited and condensed. Nouriel Roubini is a New York-based economist that famously predicted the 2008 financial crisis when only a few considered there might be a threat to the existing course of events at the time. A Harvard alumnus and now a professor at NYU Stern School of Business, Mr. Roubini has always been critical of the crypto and blockchain industry. Oct.11, 2018 he testified at the Congressional hearing on Capitol Hill, Washington D.C., warning U.S. senators about “the mother or father of all scams and…

Why Mastercard’s Multi-Blockchain Might Be a New Step In the Patent Race

On October 9, American financial services giant Mastercard was granted a patent for a method to partition a blockchain so that it can store multiple transaction types and formats. The filing published by the U.S. Patent and Trademark Office (USPTO) reveals the details of the new system — not the first of the kind for Mastercard. Why would you need to partition a blockchain? Simply put, different blockchains store their transactions in different blocks — say, Bitcoin (BTC) uses one kind of system to record data on its blockchain, while…

China Threatens Overseas Tax Havens, Will Investors Flock to Crypto

Since early 2018, the government of China has tightened policies targeting millionaire investors in the country holding their wealth overseas to avoid large taxes, and it may lead local investors to alternative assets like crypto. Chinese investors rely on the Swiss offshore banking industry, Hong Kong real estate market, and foreign stock markets to hoard millions of dollars worth of properties, assets, and cash outside of mainland China. But, local financial authorities have started to crackdown on investors that amass significant wealth in overseas markets. Will Investors Move to Crypto?…

Bear Market Sees Bitcoin Volume Approaching Yearly Low Once Again

Earlier today, on October 14, the price of Bitcoin experienced an abrupt increase from $6,300 to $6,410 within minutes. The unexpected rise in the Bitcoin price led traders to be optimistic about the short-term trend of the crypto market, as analysts previously stated that for the dominant cryptocurrency to demonstrate signs of recovery, it will need to first rebound to the range of $6,350 to $6,400. However, in the past 12 hours, the price of Bitcoin fell back to $6,300, falling below the $6,300 mark to around $6,220. Tether-Enabled Exchanges…

Bitcoin Fully Bottomed Out at $6k? Bears Struggle to Justify Stability

The question of whether Bitcoin has bottomed already has again surfaced following the latest drop in the digital currency price. Bears have no explanation as to why BTC has been holding this price for so long… as if it were forming a floor. Those bullish can explain this – BTC has fully corrected… and equal to the previous corrections of 0.236 [23% in real value]. pic.twitter.com/8brzXRxBsJ — dave the wave (@davthewave) October 13, 2018 The BTC/USD pair last week fell 7 percent to near 6222 after pursuing a sideways consolidation…

Not So Safe Haven? Signs Suggest Bitcoin Might Still Be a Risk Asset

Volatile price swings and plummeting valuations have been a reality for bitcoin investors of late, but those who own traditional equities haven’t been immune either. In fact, bitcoin and the S&P have correlated on and off for almost a year, each taking turns as the leading indicator. Bitcoin, the cryptocurrency advertised as digital gold due to its difficult means of production and limited supply, is expected by some to act as a “safe haven asset,” one that rises or remains stable in times of economic turmoil (just as its metal…

Crypto Reckoning? Industry Vets Strike Humble Tone in San Francisco

Many at San Francisco Blockchain Week 2018 are warily reflecting on the lessons of the 2017 token sale boom, the pride that came before this current bear market fall. Veteran investor and AngelList co-founder Naval Ravikant told conference goers on Monday the last “hype cycle” was a “coming of age” for many cryptocurrencies such as ethereum, the second largest crypto by market cap. “We almost got Wall Street completely involved, but we didn’t quite get there,” Ravikant said, adding that although some of the world’s leading financial institutions are tiptoeing…

The European Blockchain Partnership Finds Europe Getting Serious About Distributed Ledger Technology

On April 10, 2018, 21 EU member states and Norway signed up to create the European Blockchain Partnership. Including the UK, France, Germany, Sweden, the Netherlands and Ireland, they committed themselves to “cooperate in the establishment of a European Blockchain Services Infrastructure (EBSI) that will support the delivery of cross-border digital public services, with the highest standards of security and privacy.” Since April, a further five nations have joined the Partnership, with Italy becoming the latest to do so after it signed the Partnership’s Declaration in September. As a member,…

Bitcoin Price Weekly Analysis: BTC/USD Could Test $6,390 Before Lower

Key Points Bitcoin price found support near the $6,100 level and corrected higher against the US Dollar. There is a major bearish trend line in place with resistance at $6,325 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair must break the $6,325 and $6,390 resistance levels to move into a positive zone. Bitcoin price is currently correcting higher against the US Dollar. BTC/USD is likely to face a strong selling interest near the $6,380-6,390 resistance area. Bitcoin Price Analysis This past week, bitcoin price…

Ethereum Price Weekly Analysis: ETH/USD’s Bearish Trend Below $207

Key Highlights ETH price declined heavily and traded as low as $184.5 against the US Dollar. There are two important bearish trend lines in place with resistance at $208 and $218 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair may correct higher, but there are many hurdles near $207 and $212 on the upside. Ethereum price is facing many barriers versus the US Dollar and Bitcoin. ETH/USD remains at a risk of more losses as long as it is below $212. Ethereum Price Analysis This past…