Only 19% Chance Bitcoin Price Breaches $10,000 by Q2 2019

Twitter Facebook LinkedIn A drop in the bitcoin price’s daily moves has lowered the market’s expectations of reclaiming a five-figure valuation anytime soon. Options Traders Not Bullish on Bitcoin Skew — a crypto analysis blog authored by two London-based derivative traders — claimed that bitcoin has only a 19 percent chance of breaching the $10,000-mark by June 2019. The report rested their analysis on the expected outcomes of bitcoin futures that are expiring by the third week of the last Q3 month, explaining that the volatility embedded in the price of…

No, Bitcoin Isn’t Secretly Messing with the Mid-Term Elections

Brian Forde most recently ran for U.S. Congress in California’s 45th district and was the founding Director of the Digital Currency Initiative at MIT. Previously, he was a Senior Tech Advisor in the Obama White House. On the eve of the most important election of our time, we’ve seen what misinformation gets us. Fear of the unknown, fear of change. In these times, we need to be vigilant about how we examine what’s new or different. Hundreds of articles have been written about campaign contributions made with cryptocurrencies — and…

Firm Owned by India’s Richest Man Turns to Blockchain for Trade Finance

Oil and gas conglomerate Reliance Industries – owned by India’s richest person, Mukesh Ambani – has used blockchain to conduct its first trade finance transaction. According to a news release from HSBC India shared with CoinDesk on Sunday, Reliance Industries has recently executed a “live” blockchain-powered trade finance transaction in collaboration with US-based global chemical distributor Tricon Energy. The end-to-end transaction was facilitated by banking majors HSBC India and ING Bank, Brussels, and carried out on enterprise consortium R3’s Corda blockchain platform, the release adds. The Corda platform was integrated with…

Bitcoin Futures Volatility Hit Record Low in October: CBOE

Twitter Facebook LinkedIn Bitcoin has been unusually stable in recent weeks, and the decrease in volatility has now reached historic levels in the futures markets. Bitcoin Volatility Hits Record Level in Futures Markets That’s according to Kevin Davitt, senior instructor for The Options Institute at CBOE Global Markets, who said that Chicago-based derivatives exchange saws record low volatility in its bitcoin futures market during the month of October. Speaking on the subject during CBOE’s latest weekly bitcoin futures roundup, he said: “Last week, which ended on October 26, saw the…

Bitcoin Price Broaches New Weekly High But Slips into Bearish Correction

Twitter Facebook LinkedIn On Monday, bitcoin underwent a bearish correction after establishing a new weekly high at 6440-fiat, falling close to 0.8 percent. Bitcoin Hits Weekly High The BTC/USD pair is trading in a bull trend above the 200-period simple moving average on hourly charts. The big move yesterday seems to have appeared more because of Tether, whose USDT token lost its dollar-peg once again, and its holders started jumping towards other coins. Prior to that, the BTC/USD pair was already pursuing a stable uptrend on near-term charts, albeit with…

Platform Pairs Clients With Financial Experts

The Taiwan-based Bincentive project, an innovative crypto trader service provider in Asia, developed the idea of matching their clients with trading experts. On Bincentive’s platforms, clients are matched with trading experts and can follow an experts’ actions in crypto markets. Furthermore, clients have the option of having the expert initiate the same trades simultaneously. These experts receive a pre-deposited compensation that is paid when a trader hits the target and has positive gains. How does financial matchmaking work? Founded in July 2018, Bincentive is aimed at creating a smart mirror…

Deltec Chairman Says Tether Letter on Bank Relationship Is ‘Authentic’

The chairman of Deltec Bank & Trust says a widely scrutinized letter about stablecoin issuer Tether’s  account at the Bahamas-based institution is “authentic.” The letter, which Tether published Nov. 1, stated – albeit with a prominent disclaimer – that the company held an account at the bank, and that the account’s balance as of Oct. 31 was over $1.8 billion, enough to back all the USDT tokens in circulation 1-for-1. However, as CoinDesk and Bloomberg reported, Deltec would not initially confirm the relationship with Tether. As she had in previous…

Platform to Bring Decentralized Economy to Mass Adoption

A new project from Dubai, HetaChain, is developing a universal blockchain platform with “industrial scale computational capabilities.” The project is intended to make blockchain more easy-to-use and flexible for regular users and developers. HetaChain aims to help governmental services, businesses, and organizations create decentralized applications (DApps) and integrate them into different industries, such as banking, e-commerce, robotics, and healthcare. Solving blockchain issues The new Heta Blockchain 3.0 Platform, launched in 2018 by Relam Investment and its founder, Sultan Ali Rashed Lootah, runs a hybrid of the Delegated Proof-of-Stake (DPoS) and…

Brave’s BAT Rallies 26% against USD after Coinbase Pro Listing

Twitter Facebook LinkedIn Basic Attention Token (BAT) on Monday has surged as much as 10.6 percent against the US Dollar from the previous day’s low. The BAT/USD exchange rate today has marked fresh quarterly highs towards 0.322-fiat, totaling the bullish gains to as high as 26 percent since November 2. The pair is also experiencing a quadruple surge in its intraday trading volume, rising from near $8 million to circa $36 million. In long term, however, BAT/USD is still facing a strong pullback sentiment towards the falling trendline which could…

Bitcoin’s True Stress Test Is Yet to Come

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. Rekt? You should see the other guy. For anyone concerned about bitcoin losing another 4 percent in October to post its third straight monthly loss, it’s worth comparing that loss to those seen by traditional financial markets. By standard measures, last month was the worst on Wall Street since the…