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Bitcoin Price Technical Analysis for 19th September – Can Bulls Keep It Up

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Bitcoin Price Technical Analysis for 09/19/2017 – Can Bulls Keep It Up Bitcoin price seems to have completed a large correction and is ready to resume its long-term uptrend.   Bitcoin Price Key Highlights Bitcoin price has bounced off a long-term area of interest after its recent sharp drop, signaling that the uptrend could still resume. Applying the Fib extension tool on this major correction could indicate how high bulls could take bitcoin from here. Technical indicators on the daily time frame also suggest that the long-term climb could carry on. Bitcoin price seems to have completed a large correction [...]

Bitcoin Price Technical Analysis for 09/18/2017 – Chance to Short?

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Bitcoin Price Technical Analysis for 09/18/2017 – Chance to Short? Bitcoin price is making a correction from its recent selloff, but it might be ready to resume the drop soon. Bitcoin Price Key Highlights Bitcoin price has been selling off in the past few days on reports that China has officially confirmed it would be shutting down exchanges. A bearish channel can be seen on the 1-hour time frame and it’s currently showing a pullback opportunity. Price is stalling at the top of the channel resistance but a higher pullback to the $4000 area of interest might be possible. Bitcoin [...]

U.S. Bill Would Ease Bitcoin Tax Regulations for Small Transactions

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U.S. Bill Would Ease Bitcoin Tax Regulations for Small Transactions Two U.S. congressional representatives have introduced a bill that would reduce bitcoin tax reporting requirements. If the bill is signed into law, U.S. bitcoin users would no longer have to report transactions worth less than $600. The Cryptocurrency Tax Fairness Act of 2017, introduced by Congressional Blockchain Caucus co-chairs Rep. Jared Polis (D-CO) and Rep. David Schweikert (R-AZ) is a bipartisan attempt to reduce the regulatory burden on people who use cryptocurrency to make small, everyday transactions and not solely as an investment vehicle. Unfortunately, current laws classify bitcoin as [...]

$11 Billion – 24-Hour Cryptocurrency Trading Volume Hits New Record

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$11 Billion - 24-Hour Cryptocurrency Trading Volume Hits New Record Cryptocurrency trading volume reached a new milestone on Friday, crossing $11 billion for the first time amid regulatory uncertainty in China. Crypto Markets Post Record Volume According to data obtained from CoinMarketCap, the combined 24-hour trading volume of all cryptocurrencies rose to $11.5 billion shortly after 16:00 UTC. The only other time daily trading volume has surpassed $10 billion was on August 19, when it briefly spiked to $10.5 billion Cryptocurrency Trading Volume & Market Cap Chart from CoinMarketCap Bitcoin topped the charts with $4.2 billion in volume, while ethereum [...]

Bitcoin Price Analysis – A perfect storm

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Bitcoin Price Analysis - A perfect storm Bitcoin has dropped ~USD$400 in the past 24 hours, contributing to a ~USD$1450 drop in the past seven days. The leading cryptocurrency is down ~US$1150 Since the recent high of ~US$4950 on Sept 2nd, or nearly 30%. The lackluster performance can be attributed to both technical and fundamental factors. On September 4th, China announced an outright ban of all ICOs, suggested refunding any collected funds in any ongoing crowd sales, and hinted at the shuttering of exchanges trading ICOs. Earlier today, the oldest Bitcoin exchange in China, BTCC, announced it would end trading [...]

John McAfee challenges Jamie Dimon’s bitcoin skepticism

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John McAfee challenges Jamie Dimon's bitcoin skepticism McAfee challenged Dimon's assertion that bitcoin is a "fraud" that will eventually blow up. Miners invest "massive" amounts of supercomputing power and electricity in creating bitcoins, McAfee on CNBC's "Fast Money." John McAfee on Wednesday challenged JPMorgan CEO Jamie Dimon's skepticism of bitcoin. Dimon on Tuesday called bitcoin a "fraud" that will eventually blow up. McAfee, whose company MGT Capital Investments mines the cryptocurrency, said he respects Dimon and people in his position "are not idiots," but he challenged Dimon's criticism. "You called bitcoin a fraud," McAfee told CNBC's "Fast Money" on Wednesday.…

Bankers’ mistrust of bitcoin is still the greatest argument for it

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Bankers’ mistrust of bitcoin is still the greatest argument for it Earlier on Tuesday, at different conferences around New York, JPMorgan Chase chief executive Jamie Dimon took aim at bitcoin, calling the cryptocurrency “a fraud” and “worse than tulip bulbs.” This skepticism by one of Wall Street’s titans, and its reflection in many offices and hallways in top financial services companies, is perhaps one of the strongest cases for bitcoin’s lasting importance. Let’s be clear, Dimon’s firm is one of the chief architects of the global financial crisis that led to the interest in a somewhat arcane cryptocurrency in the [...]

Bitcoin Finds Bottom at $4,000 as Price Awaits Post-China Breakou

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Bitcoin Finds Bottom at $4,000 as Price Awaits Post-China Breakout The bitcoin-US dollar exchange rate (BTC/USD) may have climbed back above $4,000, but it might be ready to push higher even though China uncertainty reigns supreme. Following reports the country's regulators may be seeking to shut down domestic bitcoin exchanges, the bitcoin price fell to a low of $3,977 on the CoinDesk Bitcoin Price Index (BPI) this weekend. The rumor comes a week after the People's Bank of China (PBOC) banned initial coin offerings (ICO), suddenly outlawing the practice of creating and selling cryptocurrency to investors to finance startup projects. [...]

China Is Said to Ban Bitcoin Exchanges While Allowing OTC Trades

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China Is Said to Ban Bitcoin Exchanges While Allowing OTC Trades Order comes amid a broader clampdown on financial risk China is home to nearly a quarter of world’s bitcoin trades China plans to ban trading of bitcoin and other virtual currencies on domestic exchanges, dealing another blow to the $150 billion cryptocurrency market after the country outlawed initial coin offerings last week. The ban will only apply to trading of cryptocurrencies on exchanges, according to people familiar with the matter, who asked not to be named because the information is private. Authorities don’t have plans to stop over-the-counter trading [...]

Deciphering China’s Central Bank Regulation on ICOs

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Deciphering China’s Central Bank Regulation on ICOs In typical fashion, a Chinese news outlet reported something, no one who could translate it reported on it in the west, and a panic ensued, demonstrating just how much influence governments still have over cryptocurrencies. The Chinese central bank allowed this chaos to reign all week, not issuing an official English notice until Friday afternoon. Our editor Samburaj Das was on the case early in the week, writing: As CCN reported in late August, Chinese authorities held a meeting to discuss regulations of ICOs on August 18 where the possibility of a complete [...]