BitCoin Update


BRAZIL TRADES A RECORD 100,000 BITCOIN IN 24 HOURS

BRAZIL TRADES A RECORD 100,000 BITCOIN IN 24 HOURS

Brazil, the largest Latin American economy, broke a new record when Brazilian exchanges traded over 100 thousand bitcoin within 24 hours. In parallel, Brazil reported that its economic activity in February fell to the lowest level in the last nine months. The battle between Brazil and Argentina for the supremacy of the Bitcoin market in Latin America reached a new dimension. Cointrader Monitor, a monitoring tool that analyzes Bitcoin price movements in Brazil, announced that Brazilian cryptocurrency exchanges traded over 100,000 BTC  on April 10, 2019.
China wants to ban Bitcoin mining because it 'seriously wasted resources

China wants to ban Bitcoin mining because it 'seriously wasted resources

As China tries to cut back on air pollution that has choked cities like Baoding and Shanghai, it's taking aim at cryptocurrency mining. The National Development and Reform Commission (NDRC), the country's chief planning regulator, has unveiled a paper with a proposal to ban Bitcoin mining, saying it has "seriously wasted resources." In a typical Bitcoin mining operation, powerful banks of computers are dedicated to crunching out "blockchain" numbers that serve absolutely no purpose, but have value because people think they do. Nearly three quarters of cryptocurrencies are mined in China, generating anywhere up to 10 million tons of carbon dioxide, according to a recent study in Nature Sustainability.
Bitcoin Briefly Breaks New $5,300 Support as Traditional Markets Grow

Bitcoin Briefly Breaks New $5,300 Support as Traditional Markets Grow

Monday, April 8 — Bitcoin (BTC) and Ethereum (ETH) have continued gaining momentum, while most of the top 20 coins by market cap have plunged in the red today. Ontology (ONT) and Bitcoin Cash (BCH) are seeing the biggest losses out of the top 20 coins, down 7.6 and 6.4 percent over the past 24 hours at press time, according to CoinMarketCap. The largest cryptocurrency, Bitcoin, has continued to climb today, with its price reaching as high as $5,315 earlier in the day. At press time, Bitcoin is slightly up by 0.4 percent, trading at around $5,171. Having continued hitting multi-month highs, Bitcoin is up 24.4 percent over the past 7 days.
Bitcoin Most Overbought Since Record Run, Technical Gauge Says

Bitcoin Most Overbought Since Record Run, Technical Gauge Says

Here’s something for recently emboldened crypto enthusiasts to mull: Bitcoin is now at its most expensive level since just before the spectacular crash of the most widely owned digital currency.As the coin’s price broke above $5,000 for the first time since November this week, the GTI Global Strength Indicator, a technical analysis tool, showed it’s the most overbought since its run-up to nearly $20,000 in December 2017. Similar patterns have in the past presaged multi-week downturns. Bitcoin climbed another 3 percent on Friday.“The market got so compressed, volatility was so low, it just went poof! It broke out. It was released from the cage,” said Bloomberg Intelligence analyst Mike McGlone. “Now it’s a question of duration and I suspect when you have such a massive bubble, you’ll always have an overhang of people who need to sell.”
Bitcoin spike blamed on an April Fools' joke — but that's not why it rallied

Bitcoin spike blamed on an April Fools' joke — but that's not why it rallied

Bitcoin wasn't immune to April Fools' Day jokes.One prank in particular got some credit for boosting the price of the world's largest cryptocurrency. After bitcoin broke above $5,000 on Tuesday, its highest level of the year, some blamed trading algorithms designed to buy or sell based on news. As some speculated, robots triggered a buying frenzy after an April Fools' Day article by Finance Magnates outlined an "emergency meeting" by regulators over the weekend to approve a bitcoin exchange-traded fund.But multiple experts say the buzz was not responsible for bitcoin's recovery. Hunter Horsley, whose company Bitwise was mentioned in the April Fool's Day report, said there was no truth to the ETF rumor.
Up 100%: Litecoin Price Sets Q1 Performance Record

Up 100%: Litecoin Price Sets Q1 Performance Record

Litecoin’s (LTC) price has doubled in the first three months of 2019 to register its best first-quarter performance on record.The fourth-largest cryptocurrency by market capitalization is currently trading at $61, representing a 100 percent gain on January’s opening price of $30. It clocked a six-month high of $64.20 earlier this month, according to Bitfinex data.Last year, prices had dropped 48.5, 30, 24.6 and 49 percent in each quarter, respectively. The four-quarter losing streak was the second largest on record and saw prices fall by 86 percent.
Bitcoin Rallies As EOS Crushes Crypto Market

Bitcoin Rallies As EOS Crushes Crypto Market

Markets are green again, with many leading cryptocurrencies showing double-digit growth. What appears to be an EOS-led movement is putting life back into the market, and some investors are optimistic for a new ‘alt-season.’Almost all of the top hundred cryptocurrencies are making gains. EOS has risen the most, having hopped up from $3.70 to 4.14% since 23:00 GMT last night. It has now pushed past its 200-day moving average, a bullish sign.Another big winner is Cardano (ADA), which recently rejoined the top-ten, replacing TRON (TRX). ADA is currently trading 10% above where it was on Tuesday.
Bitcoin Price Hits 5-Week High With Chart Echoing 2015 Pre-Rally Pattern

Bitcoin Price Hits 5-Week High With Chart Echoing 2015 Pre-Rally Pattern

Bitcoin jumped to a five-week high of $4,100 earlier today, reinforcing the bullish view put forward by the recent bounce from the crucial 30-day moving average support. That, coupled with the flag breakout on the 4-hour chart, indicates scope for a re-test of $4,190 (February high).The short-term bullish case would weaken if prices fail to close today above $4,055 (March 21 high).On the downside, a bearish reversal would be confirmed if and when prices find acceptance below the 30-day moving average, currently at $3,900.Additionally, bitcoin’s 200-candle moving average (MA) on the three-day chart – a lagging indicator – is flatlined for the first time since early 2015. If history is any guide, then BTC could oscillate in the recent trading range of $3,100–$4,300 in the next few months before breaking into a bull market once the 200-candle MA begins trending south.
Louis Vuitton Owner LVMH Is Launching a Blockchain to Track Luxury Goods

Louis Vuitton Owner LVMH Is Launching a Blockchain to Track Luxury Goods

Luxury brand conglomerate LVMH, owner of the iconic Louis Vuitton label, is preparing to launch a blockchain for proving the authenticity of high-priced goods, CoinDesk has learned.Code-named AURA, the cryptographic provenance platform is expected to go live in May or June with Louis Vuitton and another LVMH brand, Parfums Christian Dior. It will then be extended to LVMH ‘s other 60-plus luxury brands, and eventually those of its competitors.  LVMH has enlisted a full-time blockchain team who have been in stealth mode for over a year, working closely with ethereum design studio ConsenSys and Microsoft Azure, according to two people familiar with the project.
Majority of bitcoin trading is a hoax, new study finds

Majority of bitcoin trading is a hoax, new study finds

New research is casting even more doubt on the legitimacy of bitcoin trading.An analysis published by Bitwise this week shows that 95 percent of bitcoin spot trading is faked by unregulated exchanges. The survey, first reported by The Wall Street Journal, echoes concerns by regulators that cryptocurrency markets are still ripe for manipulation.Bitwise, an asset manager in the process of trying to list the first-ever bitcoin exchange-traded fund, said it met with the Securities and Exchange Commission on Tuesday to discuss its application. As a part of the process, it submitted analysis that could help regulators cut through the noise.


Questions?
Click here to chat with us

Live Now
Irine

Live Now : Irine

_