Bitcoin (BTC) | Tom Lee Sticks by His $15,000 Price Prediction

Tom Lee, the long-standing Wall Street crypto bull, is sticking to his $15,000 year-end price prediction for Bitcoin (BTC). The Fundstrat Global Advisor voiced his prediction on CNBC’s ‘Squawk Box’ yesterday. Tom Lee and Bitcoin (BTC) Bitcoin just recently fell to its lowest levels in more than a year yesterday, but Lee remains convinced. Originally, Lee cut his Bitcoin year-end prediction by $10,000—from $25,000 to $15,000. “Days like this, it does make me wonder,” said Lee to CNBC. “These past few days have definitely been a negative development.” The Fundstrat advisor…

Bakkt Looks for Support for Its Next Futures Contract

As Bitcoin continues to slide past the $4,500 mark, bullish investors need something to hold onto. Bakkt is trying to give it to them. Intercontinental Exchange, the owner of the NYSE, is fighting the good fight with a plan to make cryptocurrencies mainstream. Bakkt is its plan. The new platform offers regulated trading, clearing and custody, and security. It is a safe environment for consumers to buy, sell, store, and spend digital assets. Bakkt and Bitcoin The platform’s first futures contract will be a Bitcoin one, as it is “the clear crypto…

3 Major Factors Behind $65 Billion Wipe Out of Crypto Market

Twitter Facebook LinkedIn Chris Burniske, a Placeholder Management partner, said that the US stock market retracement, sell-off of Ethereum, and the Bitcoin Cash hard fork were the three major factors behind the recent crypto wipeout. In the past seven days, more than $65 billion has been deleted from the cryptocurrency market as every major cryptocurrency including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and other digital assets recorded large losses in the range of 10 to 50 percent. Bitcoin Cash Hard Fork Was the Main Catalyst Source: CoinMarketCap…

Bitcoin Price Bounces Back — Sustained Recovery or Dead Cat Bounce?

Twitter Facebook LinkedIn The bitcoin price on Wednesday showed signs of recovery after two weeks of massive selling action. The BTC/USD rate surged as much as 7 percent to establish an intraday high at 4645-fiat. The pair consolidated above 4500-fiat for a brief time but lost steam ahead of the US trading session, creating lower highs towards 4241-fiat. The likelihood of a further bull correction looks meager owing to trading activity at BitMEX. The derivatives platform currently dominates bitcoin trading volume and has processed circa $5.3 billion worth of trades. The…

Bitcoin Usage Shrinks 80% Across Payment Processors as Interest Wanes

As investor confidence in the long-term validity of Bitcoin being adopted by the mainstream as a means of payment and exchange fades, so has its real-world usage as such. Bitcoin’s Real-World Usage as Means of Payment in Decline Bitcoin was created by the mysterious person or group known as Satoshi Nakamoto 10 years ago in the wake of the global financial crisis, as a “peer-to-peer electronic cash system.” Such a system has the potential to disrupt the current fiat-based economy, become a widely used means of exchange and form of…

Bytus Wallet Launched | Instant Conversion of Crypto to Fiat

HomeSponsoredGlobal Digital Payment Launches a Bytus Wallet for Instant Conversion of Cryptocurrency to Fiat Global Digital Payment, a digital solutions provider is launching the Bytus ecosystem to help in crypto conversions and faster transactions through contactless payment modules. Digital assets are gradually dominating the financial scene one currency after another. Financial systems in various jurisdictions in the world have had to adjust their infrastructure and amend some of their laws to accommodate these new age currencies. With that said, crypto still faces major hurdles in its general acceptability as a…

We Won’t Use Blockchain until More Banks Use Ripple

Twitter Facebook LinkedIn Major money transfer service TransferWise has indicated that in spite of excitement over the growth of Ripple’s global payment solution, it has not seen a compelling case for using blockchain technology to carry out its business — yet. Speaking to Fortune recently, TransferWise chairman and co-founder Taavet Hinrikus stated that while there exists a lot of excitement over the possibilities created by the blockchain, its operational realities present a new set of challenges on their own. Excitement Versus Reality Speaking on a new episode of Fortune’s “Balancing the Ledger,” Hinrikus…

Extreme Volatility After Bakkt Delay

Twitter Facebook LinkedIn Over the past 12 hours, the price of Bitcoin, which was dangerously close to breaching the $4,000 support level, surged from $4,050 to $4,560, by more than 12 percent. On Coinbase and major fiat-to-crypto exchanges like Bitstamp and Kraken, Bitcoin dropped to as low as $4,030 for a brief period of time and recovered to $4,200 almost immediately after. Eventually, BTC rebounded to $4,500, showing some resistance in the low $4,000 region. Bakkt Controversy On November 20, ICE, the parent company of the New York Stock Exchange,…

The Crypto Insurance Market May Total $6 Billion. That’s Nowhere Near Enough

As Wall Street raises the stakes around cryptocurrency, large institutional players are circling this new asset class and bringing with them their own set of requirements. For example, there’s a need for qualified custodians to hold the assets these big-money investors will trade, as in the traditional, regulated financial realm. But a less-discussed yet critical condition for making institutions feel at home is providing adequate insurance against theft for all those custodied assets. The problem is that there’s not enough of this insurance to go around. While insurance is an…

$5K Bounce? Bitcoin Price May Have Hit Bottom For Now

Bitcoin (BTC) could be in for a stronger recovery rally in the next few days, having found a temporary bottom near $4,000. The leading cryptocurrency, which hit a 14-month low of $4,048 on Bitstamp yesterday, is now trading at $4,580, representing a 2 percent gain on a 24-hour basis. The $500 recovery seen yesterday indicates that the market is finally paying heed to the record oversold levels reported by the 14-day relative strength index (RSI). Currently, the indicator is still hovering in oversold territory below 30.00. As a result, BTC…