NEM Price Rebounds to Two-Month High Following Coincheck Relisting

  Twitter Facebook LinkedIn The price of NEM tokens (XEM) has risen some since Japanese exchange Coincheck announced that it would once again allow trading of the token, which was suspended after a hack at the exchange led to a more than half-billion dollars in tokens being stolen and systematically laundered through other exchanges. The XEM price started picking up momentum just before the announcement. It presently sits at almost 12 cents per token with a market capitalization of nearly $1 billion, a far cry from its January high (which…

BitMEX CEO Affirms Bear Call, Says BTC May Fall to $2,000

  Twitter Facebook LinkedIn What a difference a few months can make. It seems like a lifetime ago that Arthur Hayes, CEO of cryptocurrency derivatives platform BitMEX, predicted that the bitcoin price could reach $50,000 in 2018. In fact, it has been less than six months, though the events that have occurred during that interlude have been sufficient for Hayes to slash his short-term crypto forecast by more than 95 percent. CCN reported earlier this week that Hayes, a former Citigroup trader, is now predicting that the bitcoin downtrend could…

Using ICOs to Maximize ROI

Starting at the beginning of this year: the entirety of the cryptocurrency market has taken a significant hit with regards to coin value, affecting investors and prolonging the expected launch date of many public ICO token-sales. Amongst those cryptos worst hit is Ether (ETH). The second-largest by means of market capitalization lost upwards of 85% of its value YTD and trades at $207.73 at the time of writing. A massive drop in comparison to its peak of $1,400 in January 2018. The overwhelming negative volatility that has dominated the market…

Crypto Market Tumbler Services and Exchanges Used to Launder over $80 Million

This article by Elizabeth Gail  was originally published at CoinCentral.com  A crypto market investigation launched by the Wall Street Journal has revealed that almost $90 million worth of cryptocurrencies has been laundered through cryptocurrency exchanges based in the United States within the past two years. According to the investigative article, tens of millions of dollars worth of ill-gotten Bitcoin and an assortment of other cryptocurrencies have been converted into the Monero privacy coin. This is via 46 cryptocurrency exchanges based in the United States. 2,500 crypto wallets were tracked during the course of the investigation,…

Bitcoin Unexpectedly Rises to $6,600

  Within the past six hours, the cryptocurrency market has added $5 billion to its valuation as Bitcoin demonstrated an unexpected increase in its price. 1-day chart of total crypto market valuation, chart provided by Coinmarketcap.com Throughout the week, Bitcoin struggled to demonstrate recovery in its volume and momentum, as it fell below the $6,500 mark, a level which the dominant cryptocurrency managed to sustain for several weeks. Since August 9, the price of BTC has remained relatively stable in the range of $6,400 to $6,800. Apart from one instance…

Bitcoin is Reversing, 2 Catalysts Will Drive it Higher in 2018

Throughout 2018, Bitcoin has continued to record lower highs, testing major resistance levels at $10,000, $8,000 and $7,000. According to Fundstrat’s Tom Lee, the stability of Bitcoin at $6,000 regardless of its lower highs is optimistic. In early 2018, Fundstrat emphasized in a report that the $6,000 level will likely be held by Bitcoin in the mid-term because it is the breakeven point for miners. That means, miners that utilize electricity and mining equipment to verify transactions on the Bitcoin network can still generate some profit if the price of…

Breakout Zone after 25% Spike from Bitmain IPO Filing

Bitcoin Cash on Thursday jumped more than 25 percent against the US Dollar owing to strong fundamentals. Bitmain, one of the world’s largest digital miners and also the most energetic backer of BCH tokens, yesterday applied for its long-planned IPO round. If accepted, the Beijing company will go public on the Hong Kong Stock Exchange (HKEX). The application, however, is in draft-state. It is unclear whether the Bitmain will receive approval or not. Nevertheless, the mere announcement of the company applying for an IPO has injected upside sentiments among the BCH speculators.…

Did the Mt. Gox Trustee Bitcoin Sell-Off Cause the Crypto Market to Crash?

On September 25, the Mt. Gox trustee released a document entitled “Announcement on Measures to Secure Interests of Bankruptcy Creditors,” disclosing the sale of over $230 million worth of crypto including Bitcoin and Bitcoin Cash. While it still remains unsure whether the decline in the price of BTC and the valuation of the crypto market was triggered by the sell-off of Bitcoin and bitcoin Cash by the Mt. Gox trustee, the recent correction of the market coincided with the release of the document. Since March, within a period of six…

Crypto Market Surges as Ripple Continues Rally

Within the past 48 hours, the valuation of the crypto market has increased from $198 billion to $218 billion in a rally boosted by a surge in Ripple token XRP. XRP, the native cryptocurrency of the Ripple blockchain network, recorded a 40 percent rise on September 21, continuing its momentum that was established earlier this week. Qtum, Stellar, 0x and Cardano were some of the best performing cryptocurrencies on the day, recording 15 percent gains against the US dollar. End of the Bear Market? Throughout this week, Bitcoin recorded a…

Bitcoin Price Intraday Analysis: BTC/USD Wedge Support Broken

Bitcoin price on Monday depreciated against the US Dollar after consolidating sideways for the whole Asian and European sessions. The BTC/USD at the beginning of the US trading hours formed lower lows towards 6239-fiat. Before that, the pair was trading sideways owing to minimal momentum. It kickstarted the Asian session with just shy of 6500-fiat and recorded marginal gains as the day matured. BTC/USD started retracing below 6500-fiat during the early European session, displaying weak pullbacks from the said psychological level. And, right around the time of this writing, and…