Below $4k: Bitcoin’s Price Drops to a 420-Day Low

The price of bitcoin fell below $4,000 for the first time today since September 27th of last year. At around 16:20 UTC Saturday, the world’s largest cryptocurrency by market capitalization sank to an average price across exchanges of $3,970.43, a figure 7.5 percent lower than the day’s opening price of $4,298.83, according to Coindesk’s Bitcoin Price Index.  At $3,745.89 as of press time, BTC’s price is now down more than $1,700, or 30 percent, in the past seven days alone and 81 percent from its all-time high of roughly $20,000,…

Bitcoin on Track to Transfer More Value Than Mastercard Daily

Twitter Facebook LinkedIn With a daily transaction volume of over $8 billion, Bitcoin (BTC) is on track to overtake Mastercard, the second largest credit card network in the world, in volume. On October 30, Mastercard released its financial results of the third quarter of 2018. Year-to-date, the credit card company has processed around $4.4 trillion. On a daily basis, Mastercard has settled nearly $12 billion per day. Bitcoin, the most valuable cryptocurrency in the global market, has been processing just over $8 billion every day. According to a chart published…

Bitcoin Cash Extends Loss to 7%, at Risk of Dipping to New All-Time Low

Bitcoin Cash (BCH) remains bearish on Friday as the vortex adjoining last week’s controversial hard fork continued to inject the market with negative sentiments. The BCH/USD, after aggregating market cap of the original BCH and the forked Bitcoin ABC, is trading at 206.79, down 6.57 percent from its intraday high at 221.34. The pair in the past hour has corrected higher, but the volume of the small uptrend is dying. What it indicates at it is at most a bearish pennant, forming because of the execution of short positions. It…

US, Korea, China Stock Markets Plummet: is Crypto Correlated?

Twitter Facebook LinkedIn The crypto market is continuing to lose its value as the U.S., South Korea, and China demonstrate record high losses in their respective stock markets. As an alternative store of value, cryptocurrencies are considered as viable long-term investments, especially by millennials, in a period of global financial market instability and volatility. However, recent weeks have shown that cryptocurrencies are still vulnerable to the weakening global economy and the asset class is not able to perform as a hedge against uncertainties in the market. Global Markets Crash A…

Oversold Conditions Show Bitcoin Bottom

Twitter Facebook LinkedIn In the last 24 hours, the valuation of the crypto market increased from $137 billion to $140 billion after a minor recovery of around 2 percent. Both major cryptocurrencies and small market cap tokens have ended the day with relatively minor losses in the range of 1 to 3 percent. Is Bottom Near For Bitcoin? The volume of Bitcoin (BTC) has dropped from $5.5 billion back to $4 billion over the past several days, by more than 27 percent. Given that the value of BTC has not…

Tezos Korea Foundation Joins Forces with Yonsei University to Promote Blockchain

Twitter Facebook LinkedIn The South Korean arm of the Tezos Foundation has signed a Memorandum of Understanding (MoU) with Yonsei University for the development of unique talents and expertise in blockchain technology, according to a press release  published by Tezos. The release reads: “Through this agreement, both sides will strengthen the expertise of the blockchain and education expertise, and discuss various cooperation opportunities to lead the blockchain field.” The new agreement, which is between the Seoul-based Digital Society Research Center at Yonsei University and the Tezos Korea Foundation, will look…

DARPA Hops on the ‘Blockchain Not Bitcoin’ Bandwagon

Twitter Facebook LinkedIn The Defense Advanced Research Projects Agency (DARPA) is seeking to get a better understanding of permissionless blockchains, but Bitcoin does not appear to be invited to the party. To achieve this enhanced insight into blockchain technology, the US Department of Defense agency has sent out a request for information (RFI) on permissionless distributed consensus protocols, specifically touching on aspects that have been inadequately explored. One area DARPA is seeking to get a better handle of is how permissionless blockchains can function in the absence of monetary incentives.…

LTC/USD Set for $20 after Dropping to 8th

Even with listing at Bitex, LTC/USD is facing upside resistance and is now trading below $30. Moving on, this is definitely inviting for sellers just like it is with Monero—XMR/USD and at EOS/USD. All in all, before sharp drops print, it is likely that bears will slow down allowing for minor recovery towards immediate resistances. Let’s have a look at these charts: EOS/USD Price Analysis Price movements are tight and previous EOS/USD trade plans are valid. For all we can draw from the charts, EOS/USD is bearish, down 25 percent…

XRP/USD is Bullish, Coin a Store of Value

Latest Ripple News Considering prevailing market conditions, it is clear that it has been a tough week for market participants. With double digit losses and breaks below important support levels, the meltdown was—and continues to be unforgiving. But even as participants despair, XRP did emerge as the winner of the “store of value” race edging Bitcoin and flipping Ethereum as the second most valuable coin in the space. Read: The Crypto Bubble Hasn’t Burst, It Hasn’t Even Begun Yet Ethereum is teetering and as the gap widen, mainstream hopium is…

Bitcoin Moving in a $400 Range with Resistance at $4,700

The path of least resistance is clear and as long as prices are trading below $4,700 then we could see further declines towards $3,000 or lower. But even as analysts and investors track price, the survival of Bitcoin conjures memories of the dot com bubble. It did burst; birthing Amazon and Google, companies that wield so much control with individual market caps more than triple that of cryptos. Latest Bitcoin News Much has been talked about price, the collapse and the effect of low trading volumes. In fact there has…