Bitcoin Price Retests $8,000 Following 21.37% Drop – Is $11,000 Next?

Bitcoin has made a come back following three days of depressive price movements that led to a 21.37 percent drop.
The world’s leading cryptocurrency started Sunday while trending in positive territory. The asset’s rate against the US dollar surged by circa 11 percent to settle a session high at $8,041 on Coinbase exchange. The move brought approximately $12 billion to the bitcoin market, with maximum influx coming from Tether’s stablecoin USDT. Nonetheless, the uptrend slowed down ahead of the European session, hinting that a downside correction might still be underway.
Bitcoin Price Revives Bullish Sentiment upon Retesting $8,000 | Image Credits: TradingView.com
Next Upside Target between $9,200-$11,000
Josh Rager, a prominent cryptocurrency analyst, saw the bitcoin price breaking a critical resistance level. The US-based market expert said the asset is looking to close above $8,216 in near-term to validate an extended bullish bias. He predicted that bitcoin would establish an upside target of $9,600 or more.
“Bitcoin certainly looks to be pumping, now over previous resistance,” said Rager. “Price is near $8000 & looks to be heading toward the $8200 1D resistance (might consolidate prior). A close above $8200 on the daily/weekly would be very bullish and would target $9,600 [or beyond].”

$BTC – 1 Hour Chart
Bitcoin certainly looks to be pumping, now over previous resistance
Price is near $8000 & looks to be heading toward the $8200 1D resistance (might consolidate prior)
A close above $8200 on the daily/weekly would be very bullish and would target $9600+ pic.twitter.com/8S1qmjR56e
— Josh Rager (@Josh_Rager) May 19, 2019

Parabolic Trav, a cryptocurrency analyst, known for his graphic market narratives, too noted a strong bullish bias in the bitcoin market. The market expert treated bitcoin’s 2015 parabolic move as a guide for the asset’s ongoing price movements.
“There’s lots of play in the curvature, but this push we’ve had was earlier in the bottoming process than 2015 and pushed it up faster,” said Parabolic Trav.

Using 2015 channel formation as guide for 2019. Something similar? There's lots of play in the curvature, but this push we've had was earlier in the bottoming process than 2015 and pushes it up faster. pic.twitter.com/LTqyQw5wja
— ParabolicTrav (@parabolictrav) May 17, 2019

Crypto investment guru DonAlt predicted a similar future for bitcoin. The analyst noted that the asset was looking to close above a substantial resistance area, as shown in the chart below. Nevertheless, he said the bitcoin market would remain bullish as long as it holds above $6,400, a level with strong credentials as resistance during bitcoin’s uptrend sentiment.
Bitcoin Looking to Extend Bull Bias Towards $10K | Source: DonAlt
DonAlt predicted a bitcoin price rally beyond $9,200 (as far as $11,000, according to the chart above), which also marked as the next potential pullback for the asset. More likely, the analyst proposed upside targets that had earlier served as crucial resistance areas in the market. The ‘Major Resistance’ horizontal in the chart above signified its potential to cap bitcoin’s bullish attempts. The $11,000 price target had also capped similar market movements.
“As long as 6400 holds, I’ll be a better perma-bull than Parabolic Trav ever was. This still looks gorgeous to me, and I won’t touch the red button for quite a while,” said DonAlt.
Below $6,400
Event of bitcoin closing below $6,400 could push the price as low as $5,715, Rager said about the weekly support level. Nevertheless, the psychological support at $6,000 would keep providing a strong accumulation case, as seen between June 2018 and November 2018 price action.
The post Bitcoin Price Retests $8,000 Following 21.37% Drop – Is $11,000 Next? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bank of England’s Chief Economist Thinks Bitcoin Could Replace Cash

It took bitcoin an 85 percent crash followed by a 135 percent recovery to convince a prominent financial expert about its underlying potential.
Andrew G Haldane, the chief economist of the Bank of England, said bitcoin is on its way to replace cash, according to an eyewitness’s account. The 51-year academic made the statement when he was interacting with an audience of students. One of them asked Haldane about his thoughts on the future of cryptocurrencies. Haldane replied that he believed bitcoin, in particular, would become as relevant as cash in the next 20-30 years.
“Mr. Haldane said it [bitcoin] could replace cash, he even joked about us likely having Bitcoin in our wallets,” the witness shared on Reddit. “He said he didn’t think it’d replace cash tomorrow, but he was quite open to the idea 20 or 30 years down the line. He was also quite familiar with cryptocurrencies and joked that there were now thousands of them.”
The Bitcoin Price Recovery
Haldane’s statement appeared in contrast with Haldane’s earlier take on bitcoin. The economist in March 2018 had issued a warning to investors about the dangers of investing in cryptocurrencies. At the same time, he had stated that bitcoin was not a threat to the existing banking system, arguing that the cryptocurrency was not scalable and did not even make 1 percent of the global wealth.
Bitcoin Recovering from a Massive 85% Drop Since December 2018 | Image Credits: TradingView.com
Haldane’s anti-bitcoin statement also came at the time of mass crypto panic. The market was correcting violently to the downside after establishing an overbought peak at $813.87 billion. The bitcoin price, too, dropped by more than 70 percent between January and March 2018 trading session to settle a Q1/2018 low towards $5,873. The rate eventually went as low as $3,100 on December 15, 2018. Nevertheless, it recovered by 135 percent as of May 18, 2019, 1220 UTC.
The 2018’s crash brought the cryptocurrency market on the verge of extinction. Firms fired employees and closed their shutters down permanently, scammers disappeared with massive investments, speculators and investors moved away to focus on the mainstream asset classes, and analysts turned mum on failed bitcoin price predictions. Only true believers continued building and improving the Bitcoin protocol, and attracting mainstream investors. The efforts renewed buying sentiment in the bitcoin market. The result was an astounding price recovery.
The Shifting Sentiments
The bitcoin price rebound helped a few bitcoin skeptics like Haldane realize its long-term potential. The Australian Financial Review reported on March 6, 2019, that a renowned economic historian, Niall Ferguson, turned from a bitcoin agnostic to a bitcoin believer.
“I was very wrong. Wrong to think there was no use for a form of currency based on blockchain technology,” Ferguson told AFR.

Niall Ferguson Says Bitcoin Is "An Option On Digital Gold" https://t.co/cnD0teZCL1
— zerohedge (@zerohedge) February 15, 2019

Nevertheless, there are also many who refused to change their perspective about bitcoin despite its survival as a technology and an asset for over a decade. Legendary investor Warren Buffett thinks Bitcoin is a Ponzi scheme while Nobel prize winner Joseph Stiglitz believes it should be made illegal globally. At the same time, the economist who predicted the 2008 economic crisis, Nouriel Roubini, calls bitcoin “a mother and a father of all scams.”
But the skepticism did not deviate major Wall Street firms to explore bitcoin. Fidelity Investments, a Boston-based asset management firm, announced that it would introduce bitcoin trading services to its institutional clients. TD Ameritrade, another US firm, proposed to trial a similar service, further indicating that investors are willing to explore the vastly unexplored opportunities in the cryptocurrency industry.
The post Bank of England’s Chief Economist Thinks Bitcoin Could Replace Cash appeared first on NewsBTC.
Source: New feedNewsBTC.com

The Man Who Predicted the Crypto Market Bottom Right

It is difficult to accurately predict the price trend of highly volatile assets like cryptocurrencies. One could attempt at least to predict a near-possible scenario based on the cryptocurrency’s valuation based on available financial strategies. It is – though – not clear which theory Joseph Lubin, a prominent blockchain pioneer, applied to the bitcoin market. But what’s evident is that his prediction about the cryptocurrency’s low came to be right.
Lubin, who founded blockchain software firm ConsenSys, on December 21, 2018, called a bottom in bitcoin and the rest of the cryptocurrency market. The prediction-cum-declaration came a week after the bitcoin price had settled 2018’s low at $3,128.89 on San Francisco-based exchange, Coinbase. It also appeared on the date when the cryptocurrency had corrected upwards by 33.40 percent, signaling a strong rebound.
“I am calling the crypto-bottom of 2018,” Lubin had said. “This bottom is marked by an epic amount of fear, uncertainty, and doubt from our friends in the 4th and crypto-5th estates.”

I am calling the cryptobottom of 2018. This bottom is marked by an epic amount of fear, uncertainty, and doubt from our friends in the 4th and crypto-5th estates.
— Joseph Lubin (@ethereumJoseph) December 21, 2018

The well-noted sarcasm in Lubin’s statement towards the “4th and crypto-5th estates” targeted cryptocurrency startups, founded during the 2017’s infamous ICO boom. Analysts believe that it was the failed ICOs that drove bitcoin’s drive to its 2018 low. Lubin, on the contrary, indicated that the time of ICOs was over, which would bring buyers back to the bitcoin and other similar, genuine markets.
The Bitcoin Recovery
Lubin’s statement is now set to go in history as one of the most accurate crypto predictions ever made, especially at a time when bears were predicting that bitcoin will crash to $1,500-and-beyond in 2019. Nevertheless, the reverse happened. Bitcoin surged throughout 2019 to maximize its rebound by as much as 167.52 percent by the time of this writing. In the second quarter alone, the cryptocurrency had jumped more than 102 percent against the dollar owing to improving market fundamentals.
Bitcoin Price Net Rebound Maximized Up to 167.52 Percent | Image Credits: TradingView.com
Altcoins Followed
Bitcoin’s dominance in the crypto market warranted growth trajectory for other similar assets, which – over the years – were tailing its trend. Many of those assets managed to post higher rebounds than that by bitcoin, just what Lubin predicted. While Litecoin recovered by as much as 347.20 percent, Ethereum followed suit with a 186.40 percent surge. But it was Bitcoin Cash that reserved the most significant slice for itself, jumping 442.64 percent from its cycle low.
On the whole, the entire crypto market witnessed its valuation jumping to 244.98 billion, up 141.28 percent from its cycle low established on December 15 last year.
“Best of the season to all of our supporters and detractors out there. Good time to acknowledge that ultimately we are all in this together,” Lubin had said. “Wishing you all a great 2019.”
2019 turned out to be great, indeed.
The post The Man Who Predicted the Crypto Market Bottom Right appeared first on NewsBTC.
Source: New feedNewsBTC.com

Is Ongoing Bitcoin Price Boom a Pump-and-Dump Action?

The bitcoin price on Tuesday clocked a new 2019 high of $8,350 on Coinbase, its highest since July 2018.
The surge came as a part of an extended bullish action that picked momentum particularly after April 2, 2019. The BTC/USD instrument, on the day, rose up to 23 percent, which started a series of similar buying actions throughout April and first half of May. The strengthening bullish bias assisted bitcoin in breaking above crucial resistance areas, such as the ones lurking near $6,000, $6,400, and $7,500. As a result, the world’s leading cryptocurrency had brought its net bottom-to-up recovery to 162 percent by the time of this publication.
Bitcoin Price Rose 101 Percent Since April 2 | Image Credits: TradingView.com
Artificial Pump?
The speed with which bitcoin rose prompted many to call the move “manipulated.” Crypto skeptic David Gerard wrote in his blog on Monday called the bitcoin price a “proxy for margin trading,” adding that one can make more money by manipulating the cryptocurrency’s “thin and ill-regulated market to burn the margin traders.”
Preston Byrne, partners at New York-based Byrne & Storm, built up to the scenario laid by Gerard, questioning why every bitcoin price boom coincided with a significant exchange(s) having “banking, withdrawal, and possibly solvency problems.” To him, the ongoing BitFinex was in a spot of trouble owing to its management of $850 million of customers’ funds. An event of such scale could have driven the bitcoin market down. But instead, the reverse happened due to potential price manipulation.
“This was the case with, e.g., Mt. Gox in 2013, and some have argued was also the case with long-suffering crypto exchange Bitfinex in 2017 […] If you’re a trader or investor, tread carefully. It is possible that the current price of a Bitcoin bears some relation to, and is uniquely vulnerable to, regulatory developments,” said Byrne.

Everyone seems to forget that when Bitfinex received CFTC subpoenas the price went up 40% in two days, ultimately the price of Bitcoin doubled before crashing.
It wasn't good news.
— Bitfinex’ed (@Bitfinexed) May 10, 2019

Tether Pumping Bitcoin
Gerard iterated that he didn’t believe institutional investors were behind the bitcoin price explosion. Instead, it was the Bitfinex’s additional 800 million USDT supply – each acting as a US dollar – that was piling into the bitcoin market. Excerpts from Gerard’s article:
“Tethers are dollar-substitute tokens — each a $1 liability on the books of Tether, Inc., hypothetically redeemable on demand for an actual dollar. The idea is that these are pretty-much-dollars — compare Eurodollars in the real financial markets — but move at the speed of crypto. Tether is owned and run by the same people as crypto exchange Bitfinex.
“There is the minor detail that nobody has ever verifiably confirmed being able to redeem a Tether for a dollar.”
The Other Bitcoin Case

The last time Bitcoin broke $8,000:
Microsoft wasn't building on it.
Congress wasn't fighting it.
Bakkt wasn't launching with it.
Square wasn't selling it.
Fidelity wasn't storing it.
TD Ameritrade wasn't trading it.
Whole Foods wasn't accepting it.
— The Rhythm Trader (@Rhythmtrader) May 13, 2019

The bitcoin price rise closely followed disturbance prompted by the US-China trade war in the global markets. The move also came after mainstream financial companies like Fidelity Investments, E*Trade Financials, and TD Ameritrade announced new bitcoin trading services for institutional investors. Fidelity’s digital asset services head Tom Jessop told the Block that institutional interest in the bitcoin market had grown in the past 12 months.
“We just completed a survey of about 450 institutions,” said Jessop, “so everything from family offices to registered investment advisors to hedge funds. It’s interesting, I think about 20% indicated that they currently allocate to digital assets with an intention to grow that.”
The post Is Ongoing Bitcoin Price Boom a Pump-and-Dump Action? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin Awaits Big Bull Run as China Hits U.S. Back with New Tariffs

The bitcoin price surged 10 percent in the 24 hours and the sentiments are switching back to the buying side as tensions in the global markets escalate.
The Chinese Finance Ministry announced Monday that it plans to raise tariffs on $60 billion worth of US imports. Beijing said they would increase duty tax on U.S. goods from 10 percent to 25 percent as it battled a similar action from Washington in the ongoing US-China trade war.

I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don’t make a deal because companies will be forced to leave China for other countries. Too expensive to buy in China. You had a great deal, almost completed, & you backed out!
— Donald J. Trump (@realDonaldTrump) May 13, 2019

The move increased global investors’ risk exposure in the market, with almost all the significant futures’ indexes posting losses. The S&P 500 Futures, for instance, was down 1.98 percent to 2,829 points as of 1325 UTC. At the same time, Dow Futures dropped to 25,428.5 points after falling 2.06 percent, while Nasdaq futures plunged 2.45 percent towards 7,431 points.
Global Markets Fall as US-China Trade War Escalates | Image Credits: Holger Zschaepitz
Holger Zschaepitz, the financial editor at Germany-based Welt news service, believed the growing positive correlation between the trade war and the global stock market would benefit safe haven assets like gold and bitcoin. He stated ahead of China’s tariff increase:
“Global markets start in Risk-Off mode to the week. Stocks fell along with Yuan & Treasury yields amid US-China trade war escalation. Investors awaited details on possible China counter-measures. US 10 year yields drop to 2.44%, Yen and Bitcoin strengthen on haven bids.”
Bitcoin Surge Continues
The bitcoin price today appreciated up to 10 percent against the US dollar since the market open. The cryptocurrency settled a lower high towards $8,000, suggesting that it may still be inside a bearish correction phase from its 2019 peak. However, Alex Krüger, a prominent cryptocurrency analyst, said the bitcoin price is looking to extend its gains in the long run.
“Sanity reigned in over BTC overnight, correcting 11% lower,” he stated. “Yesterday’s move above $7000 had started making many, including me, doubt that a strong correction would ensue anytime soon.”
Krüger added that there were no hints of bitcoin buying at the retail level, arguing that the size of the asset’s appreciation is too big to back by small investors. Nevertheless, the analyst credited positive market fundamentals surrounding Fidelity Investments, TL Ameritrade, and E*Trade Financial. The US companies either announced or hinted that they would launch bitcoin trading services.

What drove $BTC up this week?
A handful of large players, that started buying in waves. Systematic buying.
Clues to reach that conclusion can be found in volume, price action, funding, and futures basis and term structure. May expand on this later.
Not retail driven.
— Alex Krüger (@krugermacro) May 12, 2019

Gold, Yen Up Too
The bitcoin price recovery Monday mirrored market biases in the haven assets, Gold and the Japanese Yen. The XAU/USD spot rate today rose up to 1.08 percent to 1299.738, while the JPY/USD surged as high as 0.64 percent to settle an intraday high towards 0.009171.
“The overall reaction by currencies has been limited, however, as there are also factors that support hopes for an eventual settlement, such as the possibility of the US and China presidents meeting at the G20,” said Masafumi Yamamoto, chief forex strategist at Tokyo-based Mizuho Securities.
The post Bitcoin Awaits Big Bull Run as China Hits U.S. Back with New Tariffs appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin Price Crosses $7,500 to Establish Fresh 2019 High

The bitcoin price has jumped above $7,500 to discover its fresh yearly high.
The world’s largest cryptocurrency established $7,568.32 as its new session peak, bringing its year-to-date net rebound up to 140 percent on San Francisco-based Coinbase exchange. The broader cryptocurrency market tailed bitcoin’s uptrend, with a majority of top assets posting double-digit gains, including Bitcoin Cash, Litecoin, EOS, and Ethereum. Even Bitcoin SV, which lately faced trading ban at several cryptocurrency exchanges, saw a 10 percent appreciation in the last 24 hours.
What’s Driving Bitcoin Bulls
Bitcoin Establishes New 2019 Highs above $7,500 | Image Credits: TradingView.com
Bitcoin’s continuous climb to $7,500 came in the wake of improving buying sentiment and technical forecasts. Fidelity Investments, a Boston-based asset management firm with a vast Wall Street clientele, announced last week that it would add bitcoin trading to its list of institutional investment services. At the same time, online investment service TD Ameritrade started offering stimulated bitcoin trading through Nasdaq, raising hopes that a full-fledged bitcoin adoption was underway.
Meanwhile, technical data continued to identify the end of bitcoin’s most prolonged bearish phases after the asset formed a low in $3,100-3,200 range on December 15, 2018. Momentum indicator Stochastic RSI, for instance, rebounded from its oversold territory for the first time since February 2018 on monthly charts. The move identified a trend shift, meaning that the market was eyeing an extended bitcoin price recovery in the future.

$BTC Stoch RSI currently at 2015 pre bull run level (33) and should enter "overbought" territory in about 1 or 2 months.
Last time it lasted 2 years from $300 to $19K. #bitcoin pic.twitter.com/mhezb6YL85
— Galaxy (@galaxyBTC) May 10, 2019

At the same time, bullish analysts continued to strengthen their long-term upside targets following the Golden Cross formation. The technical chart pattern held a historical significance in the bitcoin market for shooting the price from $300 to $20,000 in 14 months. The latest Golden Cross formation too prompted a bitcoin uptrend which, as bulls believed, would lead the price beyond $20,000 by the end of this year.
A significant investment firm was also studying bitcoin’s old price behavior to understand its next move. Vancouver-based Canaccord Genuity found that bitcoin could continue its bull trend over the next 24 months. The firm expected the cryptocurrency to retest $20,000 due to next year’s Halving event, which would reduce the current bitcoin supply by half.
“Now four months into 2019, we note for the third time the striking similarity in bitcoin’s price action between 2011-2015 and 2015-2019,” Canaccord said in a note. “While this simple pattern recognition has a little fundamental basis, we note that bitcoin does operate on a four-year cycle of sorts, as the halving of bitcoin’s mining reward occurs approximately every four years.”
Near Term Targets
The bitcoin price was now eyeing the $7,785-8,602 range as its next potential bull target. The said area had adequate reversal sentiment, given its ability to cap small uptrends between April and July 2018. A pullback at any given level could push the bitcoin price violently towards interim supports, the nearest one being at $7,000.
The post Bitcoin Price Crosses $7,500 to Establish Fresh 2019 High appeared first on NewsBTC.
Source: New feedNewsBTC.com

Binance and Coinbase Traffic Spikes as Bitcoin Price Surges 81% YTD

Over a million internet users are visiting Binance every day as the cryptocurrency exchange manages a $40 million hack scandal amidst a bitcoin price boom.
Toronto-based Kevin Rooke, known for his insightful crypto-related social media analysis, revealed that Binance’s daily average traffic had gone up by 13 percent in April. At 1,183,000 visits, the Malta-based exchange was hosting its best website statistics since October 2018. The analysis appeared as soft evidence of people’s growing interest in cryptocurrencies, particularly bitcoin whose value surged by 29.33 percent during the April session.
Meanwhile, other cryptocurrency exchanges witnessed lesser website traffic compared to Binance. They were not even getting more than 400,000 hits a day, barring Coinbase, a US-based crypto exchange, which recorded an average of 930,000 visits every 24 hours. Coinbase offered services across 53 countries and worked under tight regional regulations. At the same time, Binance trading platform was available worldwide but catered fiat withdrawals only via Binance Jersey, a service it launched on February 18, 2019.
Binance and Coinbase Posted Best Incoming Traffic | Image Credits: Kevin Rooke
Bitcoin Boom Behind Traffic?
The Binance and Coinbase’s latest traffic reports followed bitcoin’s co-called April Fools’ rally. On April 2, the cryptocurrency’s rate dramatically jumped by up to 24 percent. It posted similar bullish moves through the rest of the month.
The bitcoin buying sentiment rippled further into the early-May trading session. On the 9th, its price broke above $6,000, a historically significant support level during the asset’s downward action in 2018. The BTC/USD instrument today formed its yearly high towards $6,989.89 on Coinbase.
The bitcoin price booms typically coincided with an increase in the number of bitcoin-related keyword searches on Google – and even on China’s Baidu. Keyword ‘Bitcoin Price,’ for instance, continued to remain the most searched crypto-related query on Google. And interestingly, the search engine responded with a Coinbase URL on the top, alongside some of NewsBTC’s bitcoin price articles (big heart to our readers).
Coinbase Topped Bitcoin’s Most Searched Keyword | Image Credits: Google
The high Google ranked at least one of the cryptocurrency exchanges at the top, which increased its visibility before the internet users. It is difficult to predict whether or not any of the new users converted into sales. No official data was available that could verify the number of account holders either on Coinbase or Binance as of now. At the same time, a report published in December 2018 stated that Coinbase had 422,000 daily active users, while Binance had 313,000.
Coinbase Beat Binance in December 2018 Based on Daily Active Users | Image Credits: Blockchain Transparency Institute
Sumup
It was likely for internet users to take an interest in a bullish decentralized asset, which explained how people could have landed on Coinbase or Binance either via referrals or directly. That doesn’t take away the fact that bitcoin’s on-chain activity surged alongside its price since December 15’s bottom formation.
At the time of this writing, the BTC/USD instrument’s year-to-date gains were 81-percent.
The post Binance and Coinbase Traffic Spikes as Bitcoin Price Surges 81% YTD appeared first on NewsBTC.
Source: New feedNewsBTC.com

Trouble? Bitfinex Posts Record High Net Bitcoin Withdrawals in April 2019

Trust in cryptocurrency exchange BitFinex is on a record decline, a new research highlights.
London-based blockchain investigation firm, Token Analyst, revealed that BitFinex witnessed its most massive net bitcoin outflow in April 2019 at 314,897 BTC. The second most significant withdrawal was 182,425 BTC in January 2018, which coincided with a bitcoin price drop from $17,178 to $9,601. But unlike the last time, the latest Bitcoin withdrawal rate at BitFinex didn’t exactly cause a price crash, indicating that traders were merely moving BTCs from one wallet to another instead of selling them for other assets.

Bitfinex had a net outflow of 314,897 $BTC in April, the largest amount (measured in $BTC) in its history.
The second largest was 182,425 $BTC in January 2018.
Largest net outflow months in USD:
1) Jan 2018: $2.3B2) Dec 2017: $2.2B3) Apr 2019: $1.6B
data @thetokenanalyst
— Ceteris Paribus (@ceterispar1bus) May 8, 2019

Tether FUD
Bitcoin withdrawals’ rate at BitFinex started climbing soon after the New York Attorney General sued the exchange and its partner company Tether. The attorney alleged that the duo misled their investors by not disclosing $850 million that BitFinex raised to back Tether’s stablecoin USDT. The misbalance in the line of credit meant that USDT tokens were no longer fully backed by the US dollar on a 1:1 basis.
BitFinex told the NYAG office that a payment processing company Crypto Capital was in control of those $850 million. The response further mentioned that authorities in the US, Poland, and Portugal had seized those assets. However, both BitFinex and Tether added that they did not believe Crypto Capital’s representation that the funds had been appropriated.
BitFinex had already announced a plan to tackle the situation: an initial exchange offering to raise $1 billion. The exchange released a whitepaper earlier this month, stating that it was planning to sell 1 billion LEO tokens for 1 USDT each to cover its $850 billion losses. Taking cues from Binance, BitFinex said it would spend at least 27 percent of its monthly profits to buy back LEO tokens until only 100 million tokens survive. In case the missing $850 billion becomes accessible, BitFinex would buy back the entire LEO supply within 18 months.
Traders Losing Interest, Anyway
Bitcoin Outflow on BitFinex Reaching All-Time High | Source: BitInfoCharts.
Traders have decided to move their bitcoin funds from BitFinex despite the exchange’s tactical response, as clarified in the chart above. The platform’s USD balance is declining, which could be due to investors exiting/moving their USDT positions to other exchanges. On the whole, BitFinex has seen net outflows of $820m since the NYAG lawsuit. There is a mere $450 million worth of funds that are left in BitFinex cold wallets, per data provided by BitInfoCharts.

Quick reminder that #bitfinex has seen net outflows of $820m since the NY AG action. And they are not abating – yesterday was the fourth largest day of net outflows since the news. Data from @thetokenanalyst #bitcoin $BTC
— DK (@dke82) May 8, 2019

Bitcoin’s recent price action is a testimony to traders’ declining interest in USDT. As NewsBTC reported earlier, the cryptocurrency could be up partially because of a capital influx from USDT markets. At the same time, if BitFinex manages to raise $1 billion, investors would likely liquidate their Bitcoin holdings to come back to the USDT market. Sources tell that big whales, including venture capitalist firms, would hold at least 60 percent of the upcoming LEO token sale.
The post Trouble? Bitfinex Posts Record High Net Bitcoin Withdrawals in April 2019 appeared first on NewsBTC.
Source: New feedNewsBTC.com

“Rat Poison” Bitcoin Outperformed Most Traditional Asset Classes in 2019

The asset that legendary investor Warren Buffett once called a “rat poison” is looking like nectar in 2019.
Bitcoin, a global money system currency, surged up to 53 percent in a much-needed bullish recovery session. In comparison, Crude Oil recovered 33 percent, while the technology stocks rallied 24 percent. Recession-stuck US real estate market and S&P 500 also stopped behind bitcoin with an 18 percent rebound each. Meanwhile, global stocks, real estate, and natural resources gained between the range of 10-13 percent.
Bitcoin Performing Better than Traditional Asset Classes | Source: Binance Research
Gold, an asset class which resembles bitcoin’s underlying properties the most, had a depressive 2019 so far as it dropped 1 percent. The Agriculture sector, too, remained a lousy investment after posting 5 percent in YTD losses.
More Room to Recover
Bitcoin’s recovery followed a bearish 2018 in which the asset dropped more than 70 percent in market valuation. The story was the same but minimalized for other asset classes. Crude Oil, for instance, closed 2018 on a 24.8 percent loss. The S&P 500, at the same time, plunged 6.2 percent, while Gold erased 2.6 percent off its spot rate.
Winners and Losers of 2018 | Credits: Visual Capitalist
The recent rebound across all the major asset classes find its propeller in the Federal Reserves’ interest rate policy. The US President Donald Trump is putting incredible pressure on the central bank to lower the interest rates, which will make borrowing cheaper. The move is bullish for the market in the short-term since more affordable financing would lead to an increase in spending, which includes investments.
But the fact that bitcoin is attracting more fiat money than its peers in the traditional market signifies its emerging “safe haven” status. Financial stability issues have not left the US market despite assurances from the White House. On the contrary, the Federal Reserve has shown concerns about the rise in business debts and leveraged corporate lendings, which could seriously leave small companies in damp if the economy improves.
Then, there are trade and tariff tensions between the US and China, along with slow economic growth globally, “Brexit,” and skepticism around Fed policy that could push investors towards more promising assets such as bitcoin. The ongoing broader recovery serves as a reminder that bitcoin could balloon faster than traditional asset classes. There is, indeed, more room to recover for this politically-independent financial instrument.
Bitcoin Long Data
The US Commodity Futures Trading Commission (CFTC) stated in its April 2019 report that institutional investors increased their long positions in the bitcoin futures contracts. The report revealed an 88 percent surge in the bitcoin’s bullish scenario, signaling a shift in the overall market sentiment. At the same time, short positions dropped by 63 percent.
According to Mike Novogratz, the chief executive officer of the US-based Galaxy Digital, institutional investors’ long sentiment on the bitcoin was a signal that the asset was heading into a bullish 2019. And so it happened.
“I don’t see us breaking $10,000 by the end of the year but I think [in] Q1/Q2 if the institutions start coming in, we’ll put in new highs,” Novogratz said.
Not exactly a rat poison!
The post “Rat Poison” Bitcoin Outperformed Most Traditional Asset Classes in 2019 appeared first on NewsBTC.
Source: New feedNewsBTC.com

Gold Futures Projects Bitcoin Price 350% Higher in Roughly 378 Days

There is a strong possibility that the bitcoin price would surge by 350 percent in roughly 378 days, according to past trend behavior noted in the Gold Futures market.
Cryptocurrency management firm Trading Shot found striking similarities between the Gold Futures (COMEX) and the Bitcoin spot market. The firm noted that bitcoin’s 2017 surge towards its historical high at $20,000 looked very similar to the Gold Futures’ bullish performance between July 1976 and January 1980. Moreover, their expected bearish corrections also trended hand-in-hand, as shown in the chart below.
Gold Futures and Bitcoin Price Comparison | Source: Trading Shot
Interim Projection
Bitcoin Death Cross | Source: Trading Shot
Trading Shot projected bitcoin’s latest Golden Cross formation as a turning point, stating that the price “will continue to rise towards new all-time highs aggressively.” At the same time, the firm reminded that bitcoin could go through a brief pullback even after forming a bullish Golden Cross. It made the argument based on bitcoin price action in 2015, in which the market built a death cross just two months after forming a Golden cross.

“It is obvious that Bitcoinis trading on an important crossroad with various conflicting short term (because long term it is as good of an investment as any) signals. What is also obvious though, is that if Bitcoin continues to follow Gold’s early 2000s price action, and more particularly it’s Golden Cross, then it will continue to aggressively rise towards new All-Time Highs without any last pull back as it did in 2015.”
Studying Gold Futures Upside
Gold Futures Recovery | Source: TradingView.com
From the day the Gold Futures formed a Golden Cross, the price corrected upwards by more than 350 percent – from $429.5 to $1929.7. The derivative achieved the bull target in 31 years and six months.
Realizing bitcoin’s lifespan so far is shorter than that of Gold, and that its market is more volatile too, Gold’s one month can be termed as bitcoin’s one day. It is, of course, pure speculation (the relationship between the price and their time-based output can change dramatically).
That said – the rough estimation of 31.5 years for bitcoin comes out to be 378 days (taken from Gold Futures’ 378-month long bull bias). At the same time, the price target for bitcoin in 378 days after the bull cross confirmation comes near $18,539. There is, of course, a possibility of a death cross formation as stated above, which would mean resetting the 378-day timer upon forming the next Golden cross formation.
“Gold gave investors many similar buy signals throughout 1999 – 2003 at the end of its last bear cycle, just as Bitcoin is giving since last December,” stated Trading Shot. “Investors who ignored those and failed to buy Gold during the late 90s have missed a great opportunity, which has never come back. Investor psychology during market cycle’s can be identical throughout very different financial assets.”
The post Gold Futures Projects Bitcoin Price 350% Higher in Roughly 378 Days appeared first on NewsBTC.
Source: New feedNewsBTC.com

Is Quebec’s Big Picture to Become the Biggest Bitcoin Mining Market?

Canada’s Quebec province is tapping the bitcoin mining market to improve its annual economic projections.
The region’s energy regulator, the Régie de l’énergie (LRQ), ordered public utility Hydro-Québec to allocate a 300-megawatt block of electricity to the blockchain industry. The move increased the total power supply granted for mining cryptocurrencies from 368 megawatts to 668 megawatts without touching the underlying costs. LRQ said it had excess electricity to spare for the mining industry operations, which would ensure lower tariffs.
“The creation of a reserved block and the requirement to curtail electricity use during peak hours at Hydro-Québec’s request (up to a maximum of 300 hours a year) will allow us to provide power to these new customers without any negative impacts on our capacity balance,” LRQ said in a press statement. “This will enable us to protect the low rates we offer our customers.”
Electricity rates are one of the most crucial metrics for deciding miners’ profit/loss ratio. A lower tariff ensures that miners validate transactions on a blockchain at a cheaper rate and earn rewards in cryptocurrencies of higher values. LRQ’s decision clarified that it was looking to establish Quebec as the most attractive destination for crypturrency miners, a title otherwise held by China, which currently hosts more than 80 percent of the global crypto mining operations.
Reuters reported in its April 9 story that China’s state planner was planning to ban bitcoin mining in the country. The mining community believed that such a decision would lead to two possible scenarios: either the operators will shut down mining facilities or they will move to places with the friendlier crypto regulations.
The Next Biggest Bitcoin Exporter
Francis Pouliot, the CEO, and co-founder of Bull Bitcoin said Quebec missed its chance to become the best bitcoin exporters in the past five years. But, eventually, the Canadian province was coming back to its senses following the surfacing of China’s potential bitcoin mining ban.
“If Quebec had kept electricity rates low for Bitcoin miners five years ago with clear regulations/guarantees (it’s the now) we’d currently be top 3 Bitcoin producers and perhaps top exporter of bitcoins worldwide. With gas, hydro and cold, Canada is poised to become the Bitcoin El-Dorado.”

If Quebec had kept electricity rates low for Bitcoin miners 5 years ago with clear regs/guarantees (it's the now) we'd currently be top 3 Bitcoin producers and perhaps top exporter of bitcoins worldwide. With gas, hydro and cold Canada is poised to become the Bitcoin El-Dorado.
— Francis Pouliot (@francispouliot_) April 30, 2019

The scenario fits the need for bitcoin miners to continue their cryptocurrency mining operations, especially following more than a year of substantial losses. The bitcoin’s price fall from December 2017’s peak near $20,000 to December 2018’s low towards $3,100 made mining severely unprofitable. And now, when the market has already recovered by 67.7 percent to the upside, a China ban is the least a miner needs.

1) Updated Executive Summary numbers from my #bitcoin cost & #sustainability model
Highlights:– Avg Cost to Mine: $3,750 (ranging from $3000 to $4000)– Total CO2e: 0.034Gt (0.06% of global)– Total Energy: 63TWh/yr (0.04% of global)https://t.co/kSMWb8Xl43
— Hass McCook (@HassMcCook) January 8, 2019

Conclusion
Quebec’s announcement, therefore, is a signal that it wants to fill in for China. Coupling that with the province’s economic growth,  which could dip below 2 percent this year, per the Conference Board of Canada report, what Quebec might be looking for is a more significant investment influx into its regions. But that eventually depends on how China goes ahead with its plan to shut down bitcoin mining farms.
The post Is Quebec’s Big Picture to Become the Biggest Bitcoin Mining Market? appeared first on NewsBTC.
Source: New feedNewsBTC.com

High-Profile Indian Government Official Calls Bitcoin a Ponzi Scheme

Cryptocurrencies like bitcoin are Ponzi scheme and deserve to be banned to protect investors, at least according to Anurag Agarwal.
The joint secretary for India’s Ministry of Corporate Affairs accused bitcoin of simplifying financial frauds in the Indian markets. He said authorities were in favor of banning bitcoin, adding fuel to rumors indicating the Indian government’s likelihood of drafting an anti-bitcoin bill.
Bitcoin Ban
Agarwal is also the CEO of Investor Education and Protection Fund, a government-appointed organization that protects investors’ rights. The official’s tenure has seen investigations against companies accused of defrauding investors. His views could prove instrumental in the ongoing Supreme court case to determine whether or not the Indian government should legalize cryptocurrencies.
“When it comes to investor protection, the IEPFA has to take a stand against certain things. Against Ponzi schemes, we are taking a stand. We think that cryptocurrency is a Ponzi scheme and it should be banned,” Agarwal clarified his stance.

100 most popular crypto exchanges and their traffic (in million) by countries:
USA:22Japan:6Korea:5UK:3.8Russia:3.1Brazil: 3.1Germany:2.5Vietnam:2.4Turkey:2.4Can: 2.02India: 2.01Ukraine:1.9Australia: 1.7
India ranked 11th despite unfavorable environment.#crypto
— Crypto Kanoon (@cryptokanoon) May 2, 2019

Bitcoin and any other form of cryptocurrency trading remain banned in India, according to a circular released by the Reserve Bank of India (RBI) last year. The Indian crypto community, in its response, dragged the central bank to the court, accusing it partial behavior towards an industry that is otherwise booming across the globe. The matter is now pending in the Supreme Court of India since July 2018. The next hearing is on July 23, 2019, which should conclude the case.
Sources close to the Economic Times, an India-based news media service, revealed that the government has kicked-off interministerial consultations on an anti-bitcoin bill. The “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019″ draft has received support from India’s Department of Economic Affairs (DEA), Central Board of Indirect Taxes and Customs (CBIC), Central Board of Direct Taxes (CBDT), and IEPFA (as mentioned above).
Not a Ponzi Scheme
The government will likely submit its draft via the RBI in the next Supreme Court hearing. The opposition would get a chance to challenge its content, especially for technical inaccuracies related to bitcoin’s comparison with a Ponzi scheme.

Just like stocks of scam companies do not make the entire asset class of stocks a scam, similarly ponzi cryptos do NOT make bitcoin a ponzi.
Unfortunately, regulators and governments are struggling to realize this massive difference .
Bitcoin is NOT a ponzi! pic.twitter.com/wKTHZWRxpC
— Sunny Bitcoin (not investment advice) (@GoenkaSandeep) April 29, 2019

Per the definition, a Ponzi scheme is a “fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities or profit of financial trading.” Bitcoin somewhat fits half the definition of a Ponzi scheme. It generates returns based on a higher adoption rate but works without an operator.
One can argue that Satoshi Nakamoto is the primary Ponzi administrator. But the fact that he/she never held adequate funds to crash the market signifies that the Bitcoin is far from being a fraudulent multi-level marketing operation. Moreover, bitcoin’s utility as a decentralized, cheaper-than-PayPal payment protocol defines a solid use case. Such a feature generally lacks in a typical Ponzi scheme.
The post High-Profile Indian Government Official Calls Bitcoin a Ponzi Scheme appeared first on NewsBTC.
Source: New feedNewsBTC.com

Litecoin Jumps 161% YTD and Crosses $80 on a Harry Potter Spell

Litecoin, once the bitcoin’s closest rival, has beaten almost all the top crypto assets in terms of year-to-date (YTD) performance.
The LTC/USD instrument has printed a 164.14 percent adjustable gains in 2019, bringing its total rebound to a total of 256 percent. Compared to other top dollar-based cryptocurrency instruments, Litecoin is only behind Binance Coin’s BNB token and Tezos’s XTZ, whose YTD performances are 292.43 percent and 177 percent, respectively. At the same time, bitcoin’s YTD performance sits at 54.80 percent.
The May 3 bitcoin price rally has further improvised upside sentiments in the cryptocurrency market. Litecoin, again, is benefitting hugely from it. The LTC/USD rate today crossed above $80, accompanied by a decent volume. The pair is signaling another upside push to reclaim its 2019 high towards approx $100.
Litecoin Price Has Surged More than 160% in 2019 | Source: CMC
The session-to-session surges are purely technical. The speculation about bitcoin establishing a bottom has allowed traders to enter the market at fresher higher highs. Bulls believe that bitcoin can retest $6,000 – a healthy support level during the asset’s downtrend from $20,000-high – in near-term. The rest of the market is merely reacting to the sharp moves in the bitcoin market.
That does not mean the Litecoin price jump is speculative. There is a Harry Potter spell working as a strong fundamental to – at least – ensure reliable support for litecoin.
Mimblewimble
The Litecoin price leap has accelerated specifically upon the creator Charlie Lee’s announcement of Mimblewimble. The protocol, named after a tongue-tying spell from the Harry Potter universe, proposes to make Litecoin a more scalable and private coin. These are the two of the most sought critical ingredients in any cryptocurrency these days.

Litecoin dev team spent hours discussing how to add Confidential Transactions. The way to do a softfork CT is very similar to doing extension blocks and extension blk may be simpler and can do a lot more. We are now also exploring doing bulletproof MimbleWimble w/ extension blks. pic.twitter.com/ePBh8PKNu8
— Charlie Lee [LTC] (@SatoshiLite) February 3, 2019

“We have started exploration towards adding privacy and fungibility to Litecoin by allowing on-chain conversion of regular LTC into a Mimblewimble variant of LTC and vice versa,” Beam, Litecoin’s software development partner, wrote in a Medium post. “Upon such conversion, it will be possible to transact with Mimblewimble LTC in complete confidentiality.”
A mere announcement does not mean that Litecoin is close to updating its protocol. Nevertheless, it is adequate to keep the community’s interest intact especially after Lee’s decision to sell all his LTC holdings, which stirred quite a controversy.
$109 a Crucial Juncture
Litecoin Price Above $109 Signals a Stronger Bull Momentum | Source: TradingView.com
The litecoin price is now testing $79.16 as its temporary resistance. The Relative Strength Index (RSI) shows that there is still a room for a continued bull momentum towards $94.64 before the next downside correction comes into view.
Nevertheless, it is the $109.53-resistance level that could confirm a long-term bullish bias for Litecoin. The line served as strong support during Litecoin’s downside action in five separate instances in 2018. That said, a close above $109.53 could signal Litecoin to push towards $139.35, creating a decent long opportunity for traders.
[Disclaimer: Cryptocurrency trading involves substantial risk of loss and is not suitable for every investor.]
The post Litecoin Jumps 161% YTD and Crosses $80 on a Harry Potter Spell appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin Dominance Soars Above 55% After Meteoric Rise to 2019 High

The bitcoin price on Friday jumped 7.48 percent to establish a fresh five-month high towards $5,864. The uptrend further pulled altcoins out of their bias conflict scenarios.
Ethereum, for instance, printed 4.5 percent gains against the dollar in the last 24 hours. Similarly, XRP, EOS, Bitcoin Cash, Litecoin, and others also trended in positive territory after a week of sideways action.
Bitcoin Price Establishes Fresh 2019 High | Source: CMC
Nevertheless, the top altcoins underperformed against bitcoin. The last 24 hours saw Ethereum dropping 1.85 percent of its value against the king cryptocurrency. Similarly, Ripple’s XRP plunged 3.76 percent, Stellar dived a whopping 5.23 percent, and Cardano and Tron fell close to 3.5 percent each against bitcoin. Only Dash and Binance Coin managed to hold their gains.
The move helped bitcoin strengthen its dominance in the cryptocurrency market. Against a 33.41 percent control recorded on January 8 last year, the bitcoin market today covered more than 55 percent of the total cryptocurrency market. The statistics showed that more traders were flocking towards bitcoin during interim bullish sessions.

$BTC pairs in the past hour
"sir…there were no survivors" pic.twitter.com/IDLhb8KxnQ
— Josh HODLonautszewicz (@CarpeNoctom) May 3, 2019

The Josh Rager Bitcoin Theory
Cryptocurrency analyst Josh Rager said ahead of the ongoing rally that BTC had closed above its crucial resistance level while altcoins were already pulling back without achieving the said mettle. The analysts theorized that bitcoin – therefore – had a better probability of extending a bull run than Ethereum, Litecoin, and EOS.
“BTC looks stronger & closed above resistance while other altcoin majors hit resistance & pulled back,” stated Rager. “[I] would love to long/buy on a BTC pullback at $4,339-4,769 zone. Bitcoin has room to push up over $6,383 on 1M Chart so no promises on a pullback at this moment.”

$BTC vs Majors Month Chart
BTC looks stronger & closed above resistance while other alt majors hit resistance & pulled back
Would love to long/buy on a Bitcoin pullback at $4339 – $4769 zone
Bitcoin has room to push up over $6383+ on 1M Chart so no promises on pullback atm pic.twitter.com/X86vmIVDi4
— Josh Rager (@Josh_Rager) May 1, 2019

A few of these altcoins closed above their respective resistance areas during today’s trading session. The litecoin price, for instance, is now trending above $74.80. At the same time, Ethereum and EOS are still waiting to break above their resistance levels.
Meanwhile, bitcoin, whose last crucial resistance was lurking near $4,769, has confirmed an extended bull action, with its next upside target set towards $6,000.
The Potential BTC Pullback
Bitcoin Price Awaiting Breakout above $5,800 | Source: TradingView.com
The latest bull action brought the bitcoin price close to $5,809. This level in June 2018 served as strong support to bitcoin’s downtrend sentiment. The chart above shows two occasions in which the $5,809-level capped the price from extending its bear run. The level continued to provide atmospheric support on each of bitcoin’s downside attempts, unless the inconvenience caused by the Bitcoin Cash hard fork in November 2018 finally broke it.
Even today, the bitcoin price tested $5,809 before hinting a minor pullback. There is a possibility of BTC achieving $6,000 if it establishes an explicit breakout action above $5,809 – buying action accompanied by an increase in volume. Such a move could further increase BTC’s dominance in the cryptocurrency market.
The post Bitcoin Dominance Soars Above 55% After Meteoric Rise to 2019 High appeared first on NewsBTC.
Source: New feedNewsBTC.com

Why Bitcoin Cannot Fix the Socioeconomic Crisis in Venezuela [For Now]

Venezuela has seen its national currency become practically worthless after undergoing one of the worst economic crisis in history. The inflation is all-time high – all the essential goods such as medicines and even toilet papers have soared in value. More citizens are leaving the country every day, while the ones who cannot afford to migrate are protesting on streets against the government.
As a result, many Venezuelans are turning to cryptocurrencies like bitcoin as a haven against the super-weak Bolivar – at least those who have the technical knowledge to access an Internet-based economy. And given the price of bitcoin, which has dropped from $20,000 to $5,200 in over a year, it is the evidence of how despondent Venezuelans have become.
Venezuelans Can’t Access Bitcoin
The popularity of bitcoin in Venezuela is highly exaggerated, according to regional cryptocurrency reporters that has witnessed the “true” crypto adoption on the ground. José Rafael Peña Gholam of LongHash wrote about how a large section of Venezuelans remain clueless about cryptocurrencies and how to access them. Most of them see bitcoin as a scam. Atop that, people’s potential to learn about the cryptocurrency becomes lesser due to lack of internet connectivity.
“Venezuela’s Internet continues to deteriorate, as the government manages most of the country’s telecommunications concessions,” writes Gholam. “Once you get far from the big cities, it is even harder to get a good Internet connection. Smartphones, which tend to be priced in dollars, are even more expensive for Venezuelans now.”

Bitcoin can't happen fast enough in Venezuela. Most important country for adoption for humanitarian reasons. https://t.co/ASuOzHH5p0
— Erik Voorhees (@ErikVoorhees) December 29, 2016

Diana Aguilar, a Venezuelan crypto reporter, shares a similar firsthand account. She talks about issues of people’s weak “computer and financial literacy,” which disallows them to access anything the cryptocurrency world has to offer. Her insightful article also discusses how people who don’t have a clue about Venezuela’s ground issues speak broadly about its potential to adopt bitcoin.
“The crypto industry needs to stop viewing Venezuela as a testing ground for wild ideas and start viewing us as what we really are: irreplaceable partners in the financial revolution,” Aguilar wrote in her latest CoinDesk column.
The Solution
The Venezuelan crisis has given bitcoin supporters evidence that a decentralized economy can, at least, mitigate the problem, if not resolve it entirely. But to truly boost the crypto’s widespread adoption, there is a need for an excellent infrastructure. New governments need to take charge and create better intragovernmental relationships with the US and the rest of the world.
More investments need to come into Venezuela to put its economy back on tracks. Bitcoin, for all its technical finesse, is still a protocol without a president, a CEO, or a prime minister. Only an organization with top leadership could normalize the situation in Venezuela.
The actual bitcoin adoption comes later – when people have the means to learn and practice it in the real-time. A stable government can pave the way by providing access to better infrastructure – at least faster internet and cheaper smartphones to allow people to start their bitcoin course. Until that happens, let’s not project bitcoin as the Messiah that could solve Venezuela’s economic crisis single-handedly.
The post Why Bitcoin Cannot Fix the Socioeconomic Crisis in Venezuela [For Now] appeared first on NewsBTC.
Source: New feedNewsBTC.com