Bitcoin Hashrate Futures Coming in 2020, Mining Boom Inbound?

Mining companies may benefit from a growing market for Bitcoin (BTC) derivatives to finance and support their power-hungry operations. In 2019, despite price fluctuations, mining activity remains near all-time highs. Bitcoin Mining Turned into Large-Scale Business Mining is becoming large-scale business in 2019, with big pools and ASIC producers once again coming into the spotlight. Canaan Mining even managed to launch its IPO on NASDAQ, selling its shares through a listed shell company. But now, a special product may be created for miners, to directly hedge against the fluctuating Bitcoin…

Bitcoin Ransomware Attack Hits Argentinian Government

The Argentinian government has been hit with a Bitcoin ransomware attack. According to the latest information, the hacker demanded 50 BTC to withdraw the attack. For all the positive changes that cryptocurrencies have brought in the last few years, there are still those who would use them to harm others. A perfect example of this is a hacker that recently attacked a major data center in Argentina, locking away 10 years’ worth of government files. The attack supposedly took place two weeks ago, November 25th, according to Argentina’s Minister of…

What Happened To Bitcoin’s Promised Influx Of Institutional Investors?

The next big bitcoin bull-run was supposed to be led by an incoming swathe of institutional money. Lured in by potential profits unheard of in traditional investment products, and reassured by trusted brands offering institutional-grade custodial solutions. So what happened? Patience Is A Virtue According to Bloomberg, the biggest investors are still on the sidelines biding their time, while crypto-based hedge-funds are closing in droves. Almost 70 have closed this year, which mostly catered to pensions, family offices and wealthy individuals. The number of new funds launching in 2019 was less than…

Coinjer Scam is Making the Rounds, Here’s What You Need to Know

The Coinjer scam is one of the latest cons to hit crypto-related social media recently. The scam primarily operates across Telegram channels and tricks people into coughing up bitcoin in order to receive more.  The Coinjer Scam Promises BTC Rewards The Coinjer scam is a relatively small-scale attempt to syphon away Bitcoin (BTC). The scheme offers a BTC reward, but ends up not paying it, a Reddit thread explains. The messages spreading on Telegram promise that the user has won 0.25 BTC, and that they have to go and claim…

Bitcoin Road to $100K: Peter Brandt Explains the When and How

Bitcoin is heading towards the $100,000 mark, according to veteran commodity trader Peter Brandt, who shared his analysis in a new video clip. However, there is a scenario in which the oldest cryptocurrency turns bearish in the near-term. Bitcoin is at Crossroad Area According to Brandt, Bitcoin is still moving within its historic bull trend, which has seen consecutive higher highs and higher lows. While he believes that the cryptocurrency will stick to the bullish narrative in the coming years until it breaks $100,000, there are two main scenarios to…

Bitcoin Climbs 2 Spots on China’s Latest CCID Ranking

China’s Center for Information and Industry Development once again published a new list of its crypto ranking index, pushing Bitcoin 2 spots higher than its last report. Bitcoin Back in China’s Top 10 China has just released a new CCID Global Public Blockchain Technology Assessment Index. This is the 15th assessment index that’s been released to date, and will likely be the last one that the country will publish in 2019. The index has brought a number of changes from the last ranking of cryptocurrency/blockchain projects, although the top one…

Bitcoin Price Shows ‘Uncanny Resemblance’ to 2018 Breakout Pattern

BTC has hovered between bullish and bearish attitudes. But one chart analyst sees a possible scenario, as the bitcoin price action in the past months recalls the rapid spike of BTC prices at the end of 2018. Bitcoin Price Resembles Last Stretch of 2018 BTC went through its biggest bear market in history in 2018, losing over 84% in value between December 16, 2017, to December 15, 2018. However, after finding the bottom at around $3,120, the price began to recover and eventually returned bullish towards Q2 of 2019. The…

Bitcoin Usage in Nigeria Surging Despite Govt. Caveats

The Central Bank of Nigeria (CBN) has warned that bitcoin and digital currencies are not legal tenders but Nigerians don’t seem to care.  Bitcoin Adoption Rising Despite Apex Bank, Senate Warnings In its December 2019 edition of ‘The Nigerian Banker’, the Chartered Institute of Bankers of Nigeria (CIBN) highlighted how bitcoin is booming in Nigeria, despite the central bank’s anti-crypto stance. As per its report on digital currencies: The CBN has also declared that digital currencies are not legal tender with naira as the sole legal tender. There are concerns…

Korean Government to Tax Crypto Capital Gains from 2020

The Korean government is preparing legal tools to tax capital gains from the sale of crypto assets. Specialized legislation to target digital asset deals is expected to arrive from the tax season for 2020. Korean Authorities Hope to Tax Crypto Capital Gains Until recently, Korea was one of the most active markets for crypto speculation. But there was no direct framework to tax capital gains from the sale of digital assets, reported The Korea Times. The Ministry of Economy and Finance is working on building the measure that will become…

Sunday Digest: Bitcoin, Banks And Bananas

An art lover who paid $120,000 for an installation of an over-ripe banana duct-taped to a wall, had his investment eaten by a performance artist. One hopes that if he has that much money to ‘waste’ on what is now just a banana skin with some tape stuck to it, he’s already filled his bags with bitcoin. Bitcoin Price: Where Next? Bitcoin markets had a fairly uneventful week, with BTC price trading largely sideways, albeit with a few gentle ups and downs. The bigger question on seemingly everybody’s lips was just…