BitMEX Bitcoin Outflow in July is Worse than Reported

Everybody knows that July was a bad month for one of the world’s largest bitcoin and crypto derivates exchange BitMEX. But they are wrong. July was – evidently – the worst.  New data reveals that the Seychelles-based firm experienced its most damaging net inflows in the said month. Fork Monitor found that BitMEX processed withdrawals of about 50,000 bitcoin, which at currency exchange rate equals $476 million. The statistics appeared distinct from what the Token Analyst had reported earlier this month. The blockchain intelligence group had reported a net outflow…

Blockchain Is Leveraging VR Tech to Its Natural Position

When Facebook bought Oculus Rift in 2014, it seemed to be only a matter of time before the virtual reality (VR) revolution would hit. However, that initial promise from five years ago is now something of an anticlimax. One writer for tech site CNet came away from this year’s consumer electronics show describing how “VR is an idea gathering dust for all the wrong reasons, lost in a sea of strange peripherals and pipe dreams.”  There is some evidence to support this. In March, Google shut down its Spotlight Stories…

Pantera Capital: Bitcoin’s 8-Year-Compound Annual Growth Rate is Massive

Cryptocurrencies like Bitcoin represent a new asset class that has the lowest correlation to traditional assets, as well as one the best annual performance records. This is the conclusion of blockchain-oriented hedge fund Pantera Capital, which recommends investors to diversify portfolios by allocating a share of it to cryptos. Bitcoin Has Almost No Correction to Traditional Assets Pantera CEO Dan Morehead said in a letter published on Medium that Bitcoin and blockchain businesses had almost no correlation to other asset classes. He presented three-year weekly returns and proved that Bitcoin…

‘10K Is The New 6K,’ Says Popular Bitcoin Trader

As bitcoin prices continue to post strong rallies, traders are looking at higher potential valuations for BTC/USD on a long-term trend basis.  Not surprisingly, many of these projections deal with important psychological levels that may be likely to guide market activity. By most accounts, market valuations in BTC/USD have had a strong year.  Bitcoin has already established gains of more than 157% while the benchmark S&P 500 is currently trailing far behind with gains of just 16.6%.  Most interestingly, this BTC/USD outperformance is notable because it has occurred even as…

3 Reasons Why Bitcoin Price Has Crashed Today

Bitcoin has lost almost 7% during the last 24 hours, according to Coinmarketcap data, taking analysts by surprise. Here are main reasons why the cryptocurrency is testing new support levels right now. CME’s Bitcoin Futures Bitcoin’s latest crash, which started on Wednesday afternoon, sent prices below the $9,500 level for the first time since July. While it’s difficult to determine an evident catalyst of the bearish trend, some suggest that we should have a look at CME and other platforms providing crypto derivatives trading. This Friday coincides with the expiration…

QuadrigaCX Update: Accountants Petition to Move Case to Toronto

Court proceedings against defunct Canadian Bitcoin exchange QuadrigaCX will focus on people in Ontario, say liquidators. EY: ‘Few Ties’ Keep Bitcoin Case In Nova Scotia In a court document filed this week, Ernst & Young (EY), the accounting giant acting as the exchange’s bankruptcy trustee, petitioned for a relocation of their case. Currently taking place in Halifax, Nova Scotia, the saga should shift to Toronto, says EY, as the subjects of interest reside specifically in Ontario.  “As the majority of the professionals are located in Ontario, there would be significant…

Bakkt Gains Favor Ahead Of Launch As Bitcoin Users Say Hype Justified

Cryptocurrency figures are putting renewed faith in Bakkt to lift markets after the company announced it was ready to launch Bitcoin storage. Bakkt: Bitcoin Storage Starts Next Week Bakkt, a cryptocurrency ecosystem for institutional investors, is currently testing its first product, physical Bitcoin futures. The main launch will begin next month. As of September 6, the company confirmed on social media this week, clients will be able to deposit their coins.  “On Sept 6, our Warehouse will begin offering secure storage of customer bitcoin to prepare for the launch of…

Bitcoin Approaches Critical Support Level After 9% Slide

As predicted, a big movement came for bitcoin following a week of consolidation. Analysts have been mixed all week but those that leaned towards bearish were right as the king of crypto plunged back into four figures a few hours ago. Bitcoin Nearing New Low A huge red candle resulted in a dump of over 9% for BTC a few hours ago. The pennant that was identified by analysts yesterday reached its conclusion and what appeared to be an upside breakout actually turned into a massive slide. From an intraday…

CoinPayments CEO Alex Alexandrov Talks About His Blockchain and AI Project

Few technologies garner as much attention and enthusiasm as blockchain technology and artificial intelligence (AI). Both technologies are featured prominently in Deloitte’s 2019’s Tech Trends Report, and they are drawing significant investments at the enterprise level.  For instance, PwC’s 2019 Global Blockchain Survey found that 84% of executive-level survey respondents indicated that their companies are “actively involved” in blockchain technology. Similarly, 80% of enterprises are investing in AI.  Of course, the struggle of adoption and usability, especially for blockchain technology, is well documented. Blockchain technology faces challenges associated with centralization,…

Blockchain Revenues and Crypto Education Surges as Industry Gathers Momentum

Looking beyond short term market peaks and troughs paints an entirely different picture for the crypto industry. Doom merchants and mainstream media will have a riot when bitcoin prices plummet ten percent, but they rarely acknowledge industry interest which can be measured in education. Crypto Studies Double in 2019 According to US crypto exchange Coinbase, student interest in cryptocurrencies has doubled in 2019. The San Francisco based firm recently released its second annual report which covers the state of crypto and blockchain in higher education. As part of its recruiting…