The Crypto Market Just Fell to a New 2018 Low

Bitcoin sank to its lowest price in over a year on Wednesday, with the prices of other major cryptocurrencies falling alongside it. As of press time, bitcoin is trading at $5,525.92 – a more than 12 percent decline on the day – in the latest sign that volatility around the world’s largest cryptocurrency by market capitalization has returned with a vengeance. Indeed, bitcoin’s collective market cap dropped below the $100 billion level for the first time since November 12 of last year, according to CoinDesk’s Crypto-Economics Explorer (CEX). In the past 12-hours…

Bitcoin Price Sinks to New Yearly Low as Sell-Off Batters Crypto Markets

Twitter Facebook LinkedIn The crypto market’s extended stable action took its last breath on Wednesday as the bitcoin price dipped to a new yearly low at 5280-fiat. The BTC/USD index fell more than 12 percent ahead of the US trading session, now trading at 5439-fiat on Coinbase. The pair was trading comfortably inside a narrow trading range since September, leading many to believe that it had established a bottom around 6000-fiat. The latest selling action brought BTC/USD to its weakest mark since October 2017. The bitcoin flash-crash cannot be fit…

Bitcoin Hits Lowest Level of the Year Thus Far

Today is a bleak day for cryptocurrencies everywhere as Bitcoin hits the lowest level of the year thus far. Where Bitcoin goes, the rest of the market tends to follow, and indeed, the index shows us all the top-ten coins are experiencing double-digit losses. Bitcoin Hits Lowest Level of the Year Currently, Bitcoin is down over 10% and has touched a low of $5,550 a coin. This price is the weakest the coin has been since October 2017 and also puts an end to what was the steadiest period the coin experienced in months.…

Tokens Continue to Drop, is SEC Preparing to go After Crypto Projects?

Twitter Facebook LinkedIn The price of Bitcoin has dropped by 10 percent over the last 24 hours following a severe sell-off. Yet, several low market cap crypto and tokens have plunged by twice that amount, posting losses in the range of 20 percent. ERC20 tokens launched on top of the Ethereum blockchain network have performed especially poorly against both Bitcoin and the US dollar over the past several days. Waltonchain, Lisk, ICON, Ontology, Golem, VeChain, WanChain, and many other tokens backed by active developer and investor communities declined substantially in…

Kik Selects Stellar Over Ethereum for Token Launch

Messenger app maker Kik is quitting ethereum for good as it continues to develop its cryptocurrency, dubbed kin. Launched on ethereum early in the ICO boom, Kik has now announced that it will close kin’s atomic swap with ethereum. Without specifying a date, the Kin Ecosystem Foundation said Wednesday that it would soon release a tool for kin holdings off of ethereum. Kik’s token has had several homes in its short life. The company raised just shy of $100 million in crypto during a September 2017 initial coin offering. By November,…

Crypto Market Loses over $8 Billion in Market-Wide Selloff, Intense Downtrend

Today is a tough day for cryptocurrencies. A large-scale selloff action has erased over $8 billion off the crypto market. The total market capitalization is $205 billion at the press time, down from $213 billion from yesterday. The market has a record of recovering from anywhere near $186 billion, which could be called the crypto bottom level of this year. The monthly perspective also shows a stable recovery from circa $200 billion, according to data available at CoinMarketCap.com. Source: CoinMarketCap.com | Global Crypto Market Cap A rebound at this point…

Crypto Market Wipes Out $8B, Bitcoin Cash Down 24.4% in 1 Week

Twitter Facebook LinkedIn Over the past 12 hours, more than $8 billion was wiped out from the crypto market, as several major digital assets including Bitcoin Cash (BCH) and Stellar (XLM) suffered. For the first time in the past ten days, the price of BCH has dropped below the $500 mark to $480. Within the past week, after securing a monthly high at $630, BCH has dropped by more than 24.4 percent. What’s Happening to Bitcoin Cash? Prior to a hard fork, especially a contentious hard fork in which a…

Bitcoin Price Charts ‘Death Cross’ In First Since 2014

Bitcoin’s (BTC) price woes may not be over just yet, as a key technical indicator is about to turn bearish for the first time in four years. On the three-day chart, the 50-candle simple moving average (SMA) looks set to cut the 200-candle SMA from above, confirming what is popularly known as the “death cross.” This specific bearish crossover was last seen in December 2014. The onset of a death cross can be a warning that a bear market is looming, according to technical theory. In reality, however, it is…

Bitcoin Price Watch: BTC/USD Remains Sell On Rallies Near 100 SMA

Key Points Bitcoin price declined further and traded below the $6,275 support level against the US Dollar. There are two bearish trend lines formed with resistance at $6,300 and $6,340 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price remains at a risk of more losses below the $6,250 support in the near term. Bitcoin price is placed in a bearish zone against the US Dollar. BTC/USD could recover, but upsides are likely to be capped around the $6,340 level. Bitcoin Price Analysis During the…

Australia’s Science Agency & Commonwealth Bank Trial Blockchain ‘Smart Money’

Twitter Facebook LinkedIn A trial conducted by the Commonwealth Bank of Australia and the Data61 unit of the Commonwealth Scientific and Industrial Research Organisation (CSIRO) has proven that blockchain-powered smart money possesses immense social and economic benefits for Australia’s insurance scheme for persons living with disabilities. In the proof of concept, it was demonstrated that participants in Australia’s National Disability Insurance Scheme (NDIS) benefited from increased choice and control using the smart money that they accessed via a prototype app. Not only were administrative costs reduced but the risk of…