Bitcoin Price Analysis: BTC Breaks $11,000 Support

Over the last 48 hours, Bitcoin price has broken support at $11,000 mentioned in my previous analysis and has since dropped back to support around $10,100. High selling volume indicates further downside over the coming days. Bitcoin 2-Hour Price Analysis On the 2 hour chart for XBT/USD, we can see support above $11,000 has been broken convincingly with a clear increase in selling momentum. Bears are in control of the short-term price action as price levels approach key support between $10,170, and $9,890. 50 MA and 200 EMA have yet…

Competition Emerges as BitMEX Goes Mum amidst CFTC Probe

BitMEX, the world’s leading cryptocurrency derivatives exchange, is looking at the prospects of losing its top position to the emerging competition. Gone With The Wind The Seychelles firm took a vow of silence shortly after its name popped up in a regulatory probe. Last month, the Commodity Futures Trading Commission (CFTC) allegedly sent letters to BitMEX for offering services to US customers without obtaining a license. The report visibly prompted the firm’s clientele into panic-withdrawing their cryptocurrencies. As of July 24, BitMEX had withdrawn $125 million worth of money off…

Bitmessage Creator Proves Craig Wright Faked Conversation With Kleiman

Self-proclaimed Bitcoin creator, Craig S. Wright (CSW) is once again being accused of forging documents as part of the Kleiman v. Wright case. Another Forgery Claim Hits Wright Redacted court documents from a hearing held back in late July show Bitmessage developer Jonathan Warren providing testimony which shows Wright forging documents. Back in early 2018, Bitcoinist reported that Dave Kleiman’s estate sued Wright for stealing about 1 million BTC. In response, Wright alleged that Kleiman signed away the sum as part of a blind trust (Tulip Trust). Part of Craig…

How Buying Bitcoin Could Solve the Global Pension Crisis

Amid fears of a world recession, the pension time bomb is ticking louder. Financial experts warn that the coming pension crisis is of such a magnitude that it will eventually affect everyone. Now, some are looking into Bitcoin as a potential savior of pension plans. Pension Funds Investing in BTC Could Achieve Annual Returns of over 19% The deepening of the pension crisis is due to the difference between how much a pension has to pay out versus how much money the pension has available to pay out. Now, this…

Bitcoin Has A Wealth Distribution Problem – Or Does It?

Yesterday saw what was gearing up to be an interesting debate on whether Bitcoin has a problem with wealth inequality. Stemming from a statistic provided by Civic CEO, Vinny Lingham, that 2% of wallet addresses hold 80% of BTC, it was countered by Interchange co-founder, Dan Held, and hosted by former Coinbase engineer, Preethi Kasireddy. So… Does Bitcoin have a wealth distribution problem? Before We Get To That, A Hypothetical Question Before the debate started, the participants introduced themselves and their positions. Lingham questioned whether Bitcoin has lost sight of…

Bitcoin Price ‘Will Fill’ $8.4K Futures Gap, Says Crypto Analyst

Bitcoin may sink to just above $8,000 in the short term in order to keep in line with its historical behavior, new crypto analysis suggests. BTC To Descend Below $9k? Currently circulating on social media are charts of CME Group’s Bitcoin futures performance which traditionally impacts on the Bitcoin price. On these charts it shows a probability of BTC/USD soon hitting $8,400.  The theory emerges on the back of fresh volatility in Bitcoin markets, with the largest cryptocurrency falling away from local highs above $12,000 to lose $11,000 support on…

Bitcoin ETFs Will Either Launch Or Die This October, SEC Confirms

The US Securities and Exchange Commission (SEC) must approve or disapprove at least two Bitcoin exchange-traded funds (ETFs) this October. 2-Month Countdown To Bitcoin ETF Decision In filings released August 12, the SEC chose to postpone final judgement on three ETFs it is currently considering. The offerings, sponsored by VanEck/SolidX, Bitwise and Wilshire Phoenix, all came before the regulator earlier this year.  “The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient…

Analyst Advises Ignoring Short Time Frames as Bitcoin is Going to $100k

Since its epic surge off the floor in early April, bitcoin has reached a level where it appears to be comfortable consolidating. This could continue for quite some time as one prominent analyst suggests. It might be time to ignore these choppy markets and focus on the bigger picture. Bitcoin In Slow Decline Bitcoin is on the slide again during the Asian trading sessioni today. From a touch of support turned resistance at $11,450, BTC turned south and has since declined almost 2% to an intraday low of $11,230 today.…

UN: North Korea Cyberattack Methods Revealed

Following revelations that North Korea amassed $2 billion in cryptocurrency for weapons programs, a new report discloses further details. According to the United Nations, it is investigating a total of 35 North Korean cyberattacks in 17 countries. These reportedly follow one of three key attack vectors.  A North Korea In Cybercrime After last week’s UN report summary, the full version reveals the extent and geographical distribution of North Korea’s cyberattacks. According to the South China Morning Post, hackers targeted South Korea the most, with the UN investigating 10 attacks. India suffered three attacks,…

Barclays Ends Partnership with Coinbase: Where Next for the Exchange?

Once hailed as the most prestigious banking relationship in crypto, Barclays (NYSE:BCS) has today decided that it is no longer working with Coinbase. The relationship between the London-based banking giant and the crypto exchange began in March last year as Coinbase sought to expand into Europe. The aim of the deal was to make it easier for businesses in the UK that handle cryptocurrency to gain access to banking services. Currently, three-quarters of UK businesses that deal with cryptocurrency are forced to look overseas for banking options as the majority…