Pakistan Uses Blockchain Developed by $150B Alipay, But No Bitcoin

The government of Pakistan is reportedly using a blockchain platform developed by Alibaba’s Alipay. But, cryptocurrencies like Bitcoin remain banned in the country for payments. The initiative of the Financial Action Task Force (FATF) of Pakistan to utilize a blockchain application to combat money laundering demonstrates the typical “blockchain not Bitcoin” narrative pushed by central banks and large financial institutions. Blockchain Not Bitcoin Several months ago, Pakistan established a partnership with Telenor Microfinance Bank, a financial institution owned and operated by Alipay, a $150 billion fintech giant based in China…

China to Enforce Regulation for Blockchain Companies in February

China’s internet regulator, the Cyberspace Administration of China(CAC) in a detailed document outlined a final draft of regulations concerning cryptocurrency and blockchain companies. The rules will come into effect starting February 19, and provide a set of guidelines that blockchain companies are required to follow. According to the CAC’s director: The Regulations on the Management of Blockchain Information Services has been reviewed and approved by the Office of the Internet Information Office of the State Council and is herebypromulgated and will be implemented as of February 15, 2019. According to…

Bitcoin Price Watch: BTC Turned Sell On Rallies Below $3,800

Bitcoin price failed to rally above $4,080 and declined heavily below $3,800 against the US Dollar. There was a break below a key bullish trend line with support at $4,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price tested the $3,550 support and it is currently consolidating losses above $3,600. Bitcoin price made a sharp bearish turn below $4,000 and $3,800 against the US Dollar. BTC is now in a bearish zone and rallies near $3,800 could face a strong selling interest. Bitcoin Price…

Crypto Market Turned Bearish: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis

The total crypto market cap tumbled and declined more than $20.00B in the past 2 hours. Stellar (XLM) price is down more than 15% and tested the $0.1000 support. Bitcoin cash price tumbled 20% and broke the $150 and $140 support levels. Tron (TRX) trimmed most its recent gains and traded below the $0.0280 level. Cardano (ADA) price is down around 20% and traded below the $0.0450 support level. The crypto market turned bearish recently and lost more than $20.00B. Bitcoin, BCH, Ethereum, XRP, Stellar (XLM), Tron (TRX) and Cardano…

Ripple Price Analysis: XRP’s Bearish Continuation Below $0.3200

Ripple price topped near the $0.3820 level and later declined sharply below $0.3500 against the US dollar. There is a short term connecting bearish trend line formed with resistance at $0.3300 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently consolidating losses, but it may soon resume its decline below $0.3200 and $0.3100. Ripple price made a sharp U-turn against the US Dollar and Bitcoin. XRP/USD is placed in a bearish zone and it may accelerate losses below the $0.3200 support. Ripple Price…

Ethereum Price Analysis: ETH Nosedived, More Declines Likely

Key Highlights ETH price failed to stay above the $146 support and declined heavily against the US Dollar. There is a short term bearish trend line formed with resistance at $128 on the hourly chart of ETH/USD (data feed via Kraken). The pair may correct a few points towards $130, but it is likely to extend declines below $120. Ethereum price declined heavily during the past few hours against the US Dollar and bitcoin. ETH/USD could test $110 or $105 if it fails to recover above $128 and $136. Ethereum…

Research Firm Charts Unspent BTC and Calls a Market Bottom in Q1 2019

“How many unspent bitcoins exist?” “How many bitcoins have been lost?” “How many bitcoins are left sitting in wallets, and how does this affect price?” If any (or all) of these questions have ever popped into your head, you’re in good company: They’ve crossed the minds of analysts at Delphi Digital, the self-named “research & consulting boutique specializing in the digital asset market.” The firm just released research on the current state of the bitcoin market, and they believe they’ve forecasted a potential bottom for its declining prices (FYI, they…