Bitcoin (BTC) Price Analysis: Bulls Defend Channel Support Again!

Bitcoin found support at the bottom of its ascending channel previously highlighted as bulls were waiting to buy on dips. This could allow price to climb back to the very top around the $7,000 major psychological mark or at least halfway through until $6,700.

The 100 SMA is slightly above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, the uptrend is more likely to resume than to reverse. However, the gap between the moving averages is still pretty tight so it might be too early to call as the indicators might be oscillating to signal consolidation. These moving averages might also hold as near-term resistance just below the mid-channel area of interest.

Stochastic is moving north so bitcoin might follow suit while bullish pressure remains in play. The oscillator has some room to climb before hitting overbought levels, which suggests that the bounce could still gain some traction. RSI is also just climbing out of the oversold region to indicate that buyers are warming up and could still sustain the rally for a bit longer before overbought conditions are seen.

 

Bitcoin is celebrating its 10-year anniversary but its performance year-on-year has been lackluster. It didn’t help that JPMorgan CEO Dimon once again had negative remarks to say on the cryptocurrency, but bulls didn’t seem to mind.

Instead, the pickup in risk-taking in financial markets and profit-taking at the end of the month likely buoyed some gains. Optimism for a fresh start this November might also be coming to play as some still expect a big rebound to happen before the end of the year.

Expectations for the ICE Bakkt bitcoin futures are also in play, as well as anticipation for Fidelity’s institutional platform to bring in strong volumes early next year.

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Ex-Bitcoin Skeptic Ron Paul Says Crypto Could Prevent Recession

Retired US Congressman Ron Paul, a one-time bitcoin skeptic, called for a tax exemption on all cryptocurrencies, saying the move could prevent an economic recession. Ron Paul, the father of current United States Senator Rand Paul, made the suggestion in a blog post entitled “Trump Is Right, the Fed Is Crazy,” where he blasted the Federal Reserve

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Coming In Hot And Fast: The New XRP Text Instant Payment System Lets You Transfer Cryptos Via Text Message

XRP continues to rock the crypto world as various blockchain and crypto products pop up in its favor. The latest entry is a rather revolutionary system that could spell BOOM for XRP. The name of the new instant payment system is XRP Text, and it works just as the name suggests.

Of late, Ripple has been super active in developing new and better financial solutions products to add to its RippleNet. By all accounts, RippleNet has already attracted quite a following. Over 100 banks and other finance-related institutions from across the world are already members of RippleNet. These include large banks both in the US and Asia.

The recent launching of xCurrent, XPring, and xRapid has made even more difference in attracting more clients for Ripple. That means more acceptance for XRP since the transfers are done with XRP as the base currency. Now, the advent of XRP Text is bound to make the campaign for its mass adoption a whole lot easier.

XRP Text: What Is It?

Basically, the new crypto transfer system uses text messages as transaction triggers. In better words, users can initiate token transfers by just keying in specific commands as text messages on their phones. The user first initiates a token transfer to their personal crypto wallet, from where the tokens are then transferred to the recipient. The fund transfer is instant, and everyone likes that. To make it more user-friendly, the system requires no registration. All it needs is the users’ phone numbers. Also, the recipient doesn’t even need to have used the system before. Below is a sample text screen showing some of its text commands:

Below is another screen-grab showing how the transfer works:

Besides the text-based transfer, there’s also a Telegram version that does just the same. Here is a screen-grab showing the commands usable on the Telegram-based XRP Text version:

The system was developed and launched by an independent developer entity known as WeitseWind. The developer has warned that the system is currently in its beta phase and that there may be some glitches. However, such glitches are easy to fix to perfect the system during the said testing period. As expected, XRP Text will greatly contribute to the mainstream adoption of XRP as a credible and reliable means of fund transfer. That could very possibly drive its price up.

Ripple Mocks Banks

Meanwhile, Ripple has released a hilarious ad depicting banks as too slow and outdated to serve money transfer requests in the digital age. Attaching the ad video in a tweet, Ripple opined that given the sluggish nature of the traditional banking system, banks could as well use aircrafts to move money from senders to recipients. In a sense, the ad drives a very important point in respect to the fast transaction speeds available on the XRP network.

 

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Coinbase Focusing on Token Addition, Not IPO, Is Good News for Users

Coinbase, Cryptocurrency Exchanges–Coinbase has had an interesting news cycle over the last several days. Reports coming out earlier in the week and last had it that the company was planning an Initial Public Offering (IPO), a move that has long been rumored to occur but thus far gained little traction. On Oct. 30, Bloomberg reported that the company was on pace to bring in $1.3 billion in revenue despite 2018 being a near continuous down year for cryptocurrency, a figure that magnifies just how profitable both the industry and well-established exchanges can be (Binance is also projected to rake in over a billion). With the slumping crypto market for Bitcoin and altcoins taking a stranglehold on development for the industry, Coinbase has continued to capitalize on the tug of war in pricing, while doing little in the interim to improve its product.

Now, the company is at least giving the appearance that the lack of coin addition is coming to an end. Since announcing in July that the company was exploring five new cryptocurrencies–Cardano, Stellar, Basic Attention Token, 0x and Zcash–the exchange has managed to only list 0x, with no updates on whether the other coins will still be added to the exchange or a timetable on such on a development. While the spectre of the December 2017 Bitcoin Cash debacle is still looming heavy over the exchange, one which produced class action lawsuits that are still being acted upon by courts, Coinbase has been alarmingly slow in responding to the number one request by its 13 million plus userbase: the addition of more altcoins to compete with the offering of exchanges like Binance, Bittrex, etc.

At present, Coinbase only offers seven currencies: Bitcoin, Ethereum, Litecoin, 0x, USD Coin (only offered to certain customers), Bitcoin Cash and Ethereum Classic, with the latter two largely finding their way onto the exchange due to the nature of their forked origins. Despite the user-friendly appeal of Coinbase and the easy to get started mobile application, the exchange has been far behind in offering a comprehensive selection of coins for investors to build their portfolios. Instead, the exchange has held to a position of being a major supporter of Bitcoin and cryptocurrency, and therefore thoroughly vetting products before releasing them to customers.

However, the company’s President and Chief Operating Officer Asiff Hirji told Bloomberg TV earlier today that the exchange is planning to vastly increase its offering, in addition to squashing rumors about  the IPO.

“There’s not going to be an IPO any time soon; we have so much to do.”

Rather than continuing to focus on pumping the company and its appearance to improve IPO share prices, Hirji states the exchange is focused on improving the product first to the benefit of its userbase. As expected, the company has targeted increasing its selection of currencies as the first step in creating a more competitive and appealing exchange for veteran and new investors alike,

“We offer seven [coins], so you should expect us to go from seven to that total number we think is worth it [200 – 300] over the next year or so…Some things will be offered in the U.S., but more things will probably be offered outside the U.S.”

While an IPO for Coinbase will undoubtedly improve the marketing appeal of the crypto industry by creating another foothold in the traditional markets, the short term move to improve the exchange’s coin selection should greatly enhance the experience of the current customer base.

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Coinbase To List Hundreds and Even “Thousands” of Tokens Soon

After completing its Series E round of financing, Coinbase has reached a value of approximately 8 billion dollars, becoming one of the most important tech startups in the ecosystem of users and traders of cryptocurrencies around the world.

According to a press release published on the company’s official blog, Coinbase managed to obtain 300 million dollars as a result of a round led by the Tiger Fund, a hedge fund sponsor that has been successfully operating in the financial markets for over 30 years:

“Today, we’re pleased to announce that Coinbase will add an additional $300 million of investment at a valuation of over $8 billion to accelerate the adoption of cryptocurrencies and digital assets. The Series E equity round is led by Tiger Global Management, with participation from Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and others.

Coinbase Will Boost the Whole Crypto Movement

This latest round of investments has been crucial for the consolidation of Coinbase’s expansive vision, which now seeks to offer more services to users. The team now hopes to develop the necessary technology to list hundreds of tokens on its trading platform, with the prospect of having “thousands” in the future:

“Coinbase will use this financing to accelerate:
– Offering more crypto assets, quickly – we see hundreds of cryptocurrencies that could be added to our platform today, and we will lay the groundwork to support thousands in the future;”.

In addition to this clear effort to stimulate trading, the company mentioned that they would allocate resources to other critical areas to strengthen the platform and the ecosystem in general: They expect to increase the number of trading options for crypto/fiat around the world, develop more utility applications for crypto and “bringing institutions into crypto”, by adding features and crypto assets to its Custody offering.

According to Bloomberg, the company reported a profit of 380 million dollars in 2017 while the figures point to a gain of 456 million by 2018. Quite impressive results, especially considering the bearish streak of 2018.

After this news spread, people on social networks widely speculated on which tokens might be the first to appear on the platform. Some of those that have sparked more interest are XRP, TRX, and EOS. So far the company has not provided any information on the subject.

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Blockchain Software Firm ConsenSys Acquires Asteroid Mining Company

Blockchain tech company ConsenSys has acquired U.S.-based asteroid mining firm Planetary Resources to bring “deep space capabilities” into the ConsenSys ecosystem


Source: Cointelegraph.com
Original Post: Blockchain Software Firm ConsenSys Acquires Asteroid Mining Company

Could the Bear Market Last 18 Months? The CEO of BitMEX Thinks So

The CEO of popular crypto derivatives exchange BitMEX has stated that he thinks the current bear market could last until spring 2020.

Arthur Hayes has been calling for lower prices for most of 2018, but thinks all-time highs could be easily achieved pending significant news events.

Arthur Hayes Compares Current Bear Market to That of 2013

Arthur Hayes, CEO of BitMEX, has warned the cryptocurrency community to be prepared for another 18 months of the bear market.

The founder of the derivatives trading commented on the current market conditions at a Yahoo Finance U.K. event sponsored by The Spectator magazine held in London.

Hayes stated that he also expects less volatility over the period and said that conditions could certainly get worse:

“We think trading volumes could fall further from where they are now.”

He then recounted his former experience in the Bitcoin space. He said he first got involved in 2013 during the boom to $1,300 and saw the following “nuclear bear market”:

“Price crashed, volume crashed — very, very difficult to make money.”

Hayes is one of a few vocal industry participants who are openly bearish about the Bitcoin market. He previously predicted that Bitcoin would drop to the $3,000 to $5,000 range, but was one regulatory decision away from seeing huge price gains.

He has hazarded that it could be an ETF that would reverse the fortunes of the number one cryptocurrency. This could send the price right up to $50,000 before the end of 2018, he believes.

Mike Novogratz, a Bitcoin bull, has admitted he thought that Bitcoin would struggle to see substantial gains this year. The Fundstrat CEO had previously said he thought the number one digital asset would “easily” reach $40,000 by the end of 2018. At the start of this this month, Novogratz stated that he no longer held such a bullish outlook and instead believed Bitcoin would struggle to reach over $9,000.

Meanwhile, the likes of Tommy Lee has made end of 2018 predictions that are increasingly looking suspect. As recently as September this year, he said he thought $20,000 was still on the cards before the year culminated. RT’s Max Keiser, meanwhile, ominously tweeted that he believes that $28,000 is still in play:

Other commentators on the space believe that the price is less insignificant and the market is just going through familiar patterns. Will Warren, the co-founder of the Ox crypto exchange, commented to Yahoo Finance UK in a phone interview:

“Having followed this space since 2011, we’ve seen a number of different cycles where a large number of people start to get interested in the technology and it kind of winds up and then winds downs again… The market is blowing off some steam right now.”

Featured image from Shutterstock.

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Coinbase will Add Nearly 300 Coins in the Next Year but Won’t IPO

Coinbase

The major US cryptocurrency exchange Coinbase has just announced that it won’t IPO any time soon but will be adding hundreds of more coins in the next year. Coinbase’s President and COO Asiff Hiriji told Bloomberg his company’s plans this morning via Bloomberg TV.

Coinbase Denies IPO

Yesterday, it was announced that Coinbase is now valued at over $8 billion USD after it closed its series E investment last week. This funding round was worth $300 million USD. With its value rising, some began to speculate whether the major cryptocurrency company was eyeing an Initial Public ...

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Bitcoin at 10: CNBC Video from 2013 Shows How Far Crypto Has Come

“You confiscate a few billion dollars out of private bank accounts, and you print a couple trillion dollars, and all of a sudden, you know what happens? People start to worry. So out of this worry, we have something called the bitcoin,” explains CNBC correspondent Jeff Cox in this video from March 2013, as bitcoin

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ICON Collaborates With the Seoul Government On 3 Blockchain Apps

The South Korean blockchain project ICON gains momentum with new projects involving the Seoul Metropolitan Government. This week at…

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Original Post: ICON Collaborates With the Seoul Government On 3 Blockchain Apps

Circle Joins Industry Body for Developing Global Crypto Standards

Circle has joined industry body Global Digital Finance as a founding member to develop an international “Code of Conduct” for crypto firms


Source: Cointelegraph.com
Original Post: Circle Joins Industry Body for Developing Global Crypto Standards

Venezuela Officially Launches State-Owned Petro Coin

Cryptocurrency, Petro Coin–In a move that could have potential ramifications for cryptocurrency and economies around the world, Venezuela has officially launched the first state-backed “cryptocurrency” in the form of the Petro coin. While numerous questions remain surrounding the legitimacy of the currency, a move that many see being carried out in both desperation and an attempt to capitalize on the crypto/blockchain fever that has overtaken fintech markets during the last year–Venezuela’s government will provide a sandbox for how crypto integration should and should not be conducted going forward.

While traditional cryptocurrencies have sought to operate outside of government influence, free of the political and bureaucratic policies that often hamper most currencies operating in free markets, the Petro coin embraces government oversight whole-heartedly, having been spawned from the financial administration that is currently overseeing one of the worst currency inflation crises in modern history. Beginning on Oct. 29 and announced via Twitter, the Venezuelan Economy department has begun offering Petro coins for purchase with fiat through the coin’s official website or from a handful of cryptocurrency exchanges that have been vetted and authorized by the government to conduct sales for the coin.

“The Petro may be acquired by legal and natural persons from its web portal.”

Currently, the coin appears to be for sale via the country’s treasury in exchange for U.S. dollars, Chinese yuan, or euros, in addition to several cryptocurrencies, including Bitcoin and Litecoin, with some confusion remaining about the sale originally allowing for Ethereum and DASH purchases (DASH, in particular, has managed to gain a strong foothold in the country as astronomical inflation has led people to look for alternatives to the bolivar for day to day transactions).

While details about the official launch and developmental support for the coin going forward are rather scant, a surprising move consider the scale of such a project that is the first of its kind, the Venezuelan government has appointed a superintendent of crypto assets and related activities, Joselit Ramirez, who is in charge of overseeing and handling customer services complaints and issues with the coin, as well as helping  transition citizens who are looking to use the coin over the now largely defunct bolivar.

As CoinTelegraph pointed out, while the Venezuelan government has tabbed six cryptocurrency exchanges to officially sell the Petro coin in exchange for fiat and other cryptos, none of the platforms crack the top-100 exchanges by the metrics offered through CoinMarketCap. Considering the decentralization and effective tendered nature of cryptocurrencies, this could become a misnomer in the near future as buyers of the Petro are free to develop their own marketplaces for trading the coin–a move that could provide some relief from the current interference of government influence over the coin and provide an alternative to purchasing directly through the treasury.

While a app-based wallet was also announced to be launched alongside the currency, made specifically for new investors and users of the Petro coin, it has since been pulled from Google Play, leading to even greater uncertainty and doubt into the exact nature and reliability of the coin moving forward.

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Ukraine Moves Towards Legalizing Cryptocurrencies in the Next 3 Years

With the news coming out today that India might ban the use of cryptocurrencies, there are also enough countries with a more positive approach. One of those countries: Ukraine. The government of Ukraine released a press release outlining how it plans to draw a legal framework for cryptocurrencies within the next three years. 

Today, the government of Ukraine released a press release with more information about the future plans of legalizing cryptocurrencies. The purpose of the upcoming regulation is to provide clear conditions to govern activities in the digital asset space and to create a clear stand on cryptocurrencies towards Ukrainian citizens. The government has also realized that the local crypto industry is growing and, therefore, wants to capitalize on it.

Despite the massive growth of the cryptocurrency market in Ukraine, the government has no clear regulation yet. Therefore, the press release also noted that in the absence of a proper regulatory environment:

“The state, in turn, lacks taxes and foreign exchange earnings. It has no opportunity to carry out financial monitoring in this area due to a lack of statistical information. As a result, foreign investments and opportunities for creating new high-paying jobs are lost.”

The government of Ukraine has documented two stages to move the legalization forward. The first stage is slotted for the remainder of 2018 and 2019 and the second stage will run from 2020 – 2021.

In regards to the first stage, the Ukrainian government will look at providing a legal definition of cryptocurrencies; the recognition of cryptocurrency exchanges that facilitate the trading of virtual currencies to fiat currencies (or vice versa); and analysis and monitoring of trends and problems in the crypto market. This will be used to develop proposals for the development of the regulation.

In the second stage, the Ukrainian government will look at the recognition of cryptocurrency exchanges and the “development of special legislative acts on the regulation” of crypto assets and smart contracts.

Overall, it seems that Ukraine is taking a very positive stand towards cryptocurrencies and the blockchain space. And for good reason, Ukraine was among the top 10 countries in the world with the highest number of cryptocurrency users in 2017. The Ukrainian cryptocurrency industry is estimated to be worth around $100 million.

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Bitcoin Turns 10! We’ve Had 10 Years of the Digital Currency

10 Years of Bitcoin

Today marks 10 years of Bitcoin; its original white paper was released onto the internet on Halloween day, 2008.

What began as an idea to challenge the financial establishment, has since grown to become a $110 billion market.

10 Years of Bitcoin: The Whitepaper

The purpose of Bitcoin was straightforward; the digital asset, as a “purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”

By logging every transaction on a distributed ledger called the blockchain, the ...

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Original Post: Bitcoin Turns 10! We’ve Had 10 Years of the Digital Currency

World Crypto Con: Lyn Ulbricht on Freeing Her Son, Ross

World Crypto Con

Welcome to the World Crypto Con Spotlight series. Today’s guest: Lyn Ulbricht.

World Crypto Con

World Crypto Con (WCC) is a platform for industry leaders to share their knowledge of the cryptocurrency and blockchain space, as well as introduce their projects to the world. WCC welcomes both experts and novices to attend; there’s something for everyone.

Our World Crypto Con Spotlight series will be focusing on moments from the conference, speaking to headliners about their experience with WCC.

Thanks to World Crypto Con, we at CryptoCurrencyNews.com had the pleasure of interviewing Lyn ...

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Original Post: World Crypto Con: Lyn Ulbricht on Freeing Her Son, Ross

New Zealand Invests in Crypto Trading Platform, CEO Says Bitcoin Will Be Worth $600,000

The government of New Zealand has backed a local crypto savings and trading platform with $330,000 to expand its reach.

Crypto Savings Firm Vimba Raises $330,000 from New Zealand Government

Vimba, formerly known as MyCryptoSaver, originally founded as MyBitcoinSaver in 2014, is focused on crypto savings with a service that allows users to put their money into Bitcoin in small weekly amounts. Through the government’s innovation arm, Callaghan Innovation, it is backing the Auckland-based startup.

Sam Blackmore, CEO of Vimba, said the government’s investment will be used to build crypto wallets and to expand the digital currency offering on the platform, Scoop reported.

“This is a truly significant investment from Callaghan Innovation and a real show of faith in the future of this very exciting asset class,” Blackmore said. “The money will go towards new key features for our expanding service. We will use it to build secure multi-signature crypto wallets for our users and we’re also looking into expanding the range of cryptocurrencies available to them — beyond Bitcoin and Ethereum.”

Vimba’s long-term approach to cryptocurrency investment has been a success and allowed the business to manage $6.5 million worth of Bitcoin of its 5,616 users. The founders’ belief that Bitcoin will ultimately be worth $600,000 discourages day trading and swing trading.

“Volatile periods are to be expected and have been happening from the genesis of Bitcoin. The long-term trendline has always been up and our outlook is long term. We believe Bitcoin will at least reach the market cap of gold as it is a more efficient, more accessible, more secure version of that rare asset. For it to reach the market cap of gold, one Bitcoin would be worth around $600,000 — more than 60 times what it’s worth today.”

Vimba’s customers share the same long-term view of cryptocurrency and distributed ledger technology, which explains the stability of its user base in times of bear markets. As Bitcoin trades at the $6,300 area in an increasingly boring market, Blackmore is confident the nascent technology will fuel bulls’ bids.

“Some people ask whether the crypto ship has already sailed and whether it’s too late to start investing, but when you take the long-term view, it’s clear this is still just the beginning.”

The New Zealand-based firm will launch its cryptocurrency savings platform in the United Kingdom in the coming weeks. Prior to Callaghan Innovation’s $330,000 investment today, Vimba had raised $400,000 in a seed round in 2017.

Featured image from Shutterstock.

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Original Post: New Zealand Invests in Crypto Trading Platform, CEO Says Bitcoin Will Be Worth 0,000

October Volume Report: Weakest Monthly Trading Activity of 2018

October Volume Report: Weakest Monthly Trade Activity of 2018

On the eve of the 10th anniversary of the initial publication of the Bitcoin whitepaper, the cryptocurrency markets recorded their weakest month for trading volume in all of 2018. Most of the leading markets saw a significant decline in trading activity throughout October, but NEO, TRX, QTUM and ZEC posted month-over-month volume increases.

Also Read: Venezuela Begins Public Sale of National Cryptocurrency Petro

BTC, USDT, ETH and EOS Hit
Lowest Points of the Year

October Volume Report: Weakest Monthly Trading Activity of 2018In the last 30 days, approximately $109.5 billion worth of BTC has changed hands, resulting in an 11.9 percent decline in trading activity from $124.3 billion in September — the weakest monthly volume posted in 2018 thus far. The drop in BTC trading activity coincided with a similar plunge in USDT trading volume. Despite fears of a widespread USDT “untethering,” as well as the eradication of 30 percent of Tether’s circulating supply, the trading volume of USDT fell by just 12.6 percent, from $86.5 billion in September to $69.5 billion.

October saw $41.2 billion in trade for ETH pairings, down 30 percent from the $53.8 billion recorded in the preceding month. EOS, meanwhile, returned to its position as the fourth most-traded cryptocurrency, with a 30-day trade volume of $13.94 billion — down 30 percent from $20 billion in September.

XRP and LTC Hit Second-Strongest Levels Since May

October Volume Report: Weakest Monthly Trading Activity of 2018XRP has held its top-five volume ranking for the second consecutive month, despite seeing a 45 percent reduction in trading activity. October saw $13.6 billion in trade across XRP pairings, down from $24.7 billion in September.

BCH was the sixth most-traded cryptocurrency in October, hitting $9.5 billion in trade volume over the past 30 days. BCH saw a 26 percent reduction in trading volume, down from $12.9 billion in the preceding month.

LTC ranked as the seventh most-traded cryptocurrency for the third consecutive month. About $9.14 billion of LTC changed hands in October, down 4.8 percent from $9.6 billion in September.

DASH posted a 30-day trade volume of 5.16 billion, settling at eighth place for the second consecutive month. Trading of the currency fell 20.6 percent from $6.5 billion in September.

NEO Breaks Into Top 10

NEO saw a massive 76.25 percent increase in trade volume in October, to rank ninth for the month. Approximately $4.6 billion worth of the currency has changed hands in the past 30 days, up from $2.61 billion in September.

ETC fell one position to rank 10th on the list of the most-traded cryptocurrencies in October. It hit a 30-day trading volume of $4.2 billion for the month, down 17.65 percent from $5.1 billion in September.

TRON, QTUM, and ZEC Post Modest Volume Gains

October Volume Report: Weakest Monthly Trading Activity of 2018TRX hit $3.67 billion in trade volume this past month, up 4.25 percent over the preceding month’s 3.52 billion. TRX was the 11th most-traded cryptocurrency in October, moving up one rank from September.

CKUSD posted a 16.5 percent drop in trading volume at $3.4 billion, down from $4.07 billion in September. CKUSD ranked 12th for the month, sliding two positions from the preceding four-week period.

Despite recording a slight 2.5 percent increase in 30-day trade volume, QTUM fell two places to 13th on the list of the most-traded cryptocurrencies in October. About $3.73 billion worth of the currency traded hands for the month, up from $3.64 billion in September.

Trading of ZEC fell 4.16 percent month over month to $3.5 billion. Despite rising slightly by volume from $3.36 billion in September, the currency slid one place to rank as the 14th most-traded cryptocurrency in October.

BIX climbed two places to rank as the 15th most-traded cryptocurrency over the past 30 days. The currency posted a monthly trading volume of $1.42 billion, down nearly 30 percent from $2.02 billion in September.

Stellar recorded a monthly volume of $1.33 billion, sliding one position to rank as the 16th most-traded cryptocurrency for October, following three consecutive weeks during which it ranked 15th. Trading of Stellar fell 42.17 percent by volume from $2.3 billion in September.

New Entrants in Top 20

October Volume Report: Weakest Monthly Trading Activity of 2018The declining trading volume across many leading markets saw several cryptocurrencies sneak into the top 20 rankings for the first time in recent months. ZB, for example, ranked 17th with a 30-day trade volume of $1.16 billion, following by XIN at $988 million.

BTM ranked 19th for the second consecutive month, with $920.8 million traded, despite falling 31.3 percent by volume, from $1.34 billion in September.

BNB, meanwhile, settled at 20th place in October, with $853.6 million worth of the currency changing hands over the last 30 days.

Do you think that the 10th anniversary of the Bitcoin whitepaper will drive greater trading volume across the cryptocurrency markets? Share your thoughts in the comments section below!

Images courtesy of Shutterstock

At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

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Original Post: October Volume Report: Weakest Monthly Trading Activity of 2018

“Bitcoin Is an Intellectual Experiment and Could Fail,” Says Xapo Founder Wences Casares

“Bitcoin Is an Intellectual Experiment and Could Fail," Says Xapo Founder Wences Casares

Wences Casares, the founder of bitcoin custody vault Xapo, believes that the cryptocurrency may take time to be successful, that is if it does. On October 29, 2018, reiterating his previous comments in an interview, Casares stated that the worlds biggest cryptocurrency is an “interesting experiment.” Bitcoin is 1992 of the Internet Casares stated that “Bitcoin was an intellectual experiment” adding...Read More. The post by Pratik Makadiya appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News
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Original Post: “Bitcoin Is an Intellectual Experiment and Could Fail,” Says Xapo Founder Wences Casares

Janet Yellen, Ex-Federal Reserve Chair, Graciously Accepts Gifted Bitcoin

U.S. Federal Reserve Chair Janet Yellen Downplays Bitcoin

A Redditor decided to give the notably crypto-skeptic, ex-chair of the Federal Reserve, Janet Yellen, some bitcoin as a gift. Her gracious and open response may surprise some.

Bah, humbug

As chair of the US Federal Reserve between 2014 and 2018, Janet Yellen’s relationship with Bitcoin was as fractious as one would expect. However, even since vacating the post back in February, she has persisted in her negative stance.

Just a few days ago she gave a five-minute speech at the Canada Fintech Forum, espousing her concerns. Or essentially, wheeling out the same old FUD, as reasons to avoid bitcoin. Not the sort of behaviour which might make one think she would enjoy receiving some as a present.

You’ve Got Mail

But that’s exactly what a Redditor called Raz decided to do. He sent 0.0031642 bitcoin ($20), to Ms Yellen, as a promotional stunt for his Biterica bitcoin gifting service.

With Biterica, anyone can send a gift of bitcoin, quickly and simply, to any email address. Custody of the bitcoin remains with Blockchain and/or Coinbase, who hold the wallet containing the gift.

The service was allegedly set up after Raz’s grandmother send a small gift for his daughter with instructions to set up a bank account for her. Realising that bank charges would consume the gift in under a year, Raz invested the money into bitcoin for his daughter instead.

Biterica (and founder Raz) believe that “the best way to teach others about Bitcoin is by gifting them a taste.”

Taste That

Well it seems that the gift worked, both as a taste of bitcoin 00, and as a publicity stunt.

Yellen’s response to the gift was both courteous, and showed an open-mindedness towards bitcoin which has not previously been revealed.

Raz suggested that she “spend [the gift] however you please” and he “hope[d] you reconsider its merits.”

Yellen replied, ‘Thanks so much for the gift! Maybe “to know it” will be “to love it.”‘

Here’s hoping that turns out to be the case. Each doubter’s mind changed is another step forward.

Is Janet Yellen warming to Bitcoin? Share your comments below!

Images courtesy of Shutterstock, Bitcoinist archives

The post Janet Yellen, Ex-Federal Reserve Chair, Graciously Accepts Gifted Bitcoin appeared first on Bitcoinist.com.


Source: Bitcoinist.com
Original Post: Janet Yellen, Ex-Federal Reserve Chair, Graciously Accepts Gifted Bitcoin

Mainstream: ‘Big Four’ Firm EY Builds Enterprise Product on Public Ethereum Blockchain

The big four accounting firms are pouring more resources into blockchain technology now more than ever, and now Ernst & Young (EY) has just deepened its commitment. The global professional services firm has unveiled a Public Edition (PE) prototype of its EY Ops Chain, using the public Ethereum blockchain to deliver what the company describes

The post Mainstream: ‘Big Four’ Firm EY Builds Enterprise Product on Public Ethereum Blockchain appeared first on CCN


Source: CCN.com
Original Post: Mainstream: ‘Big Four’ Firm EY Builds Enterprise Product on Public Ethereum Blockchain