Ethereum whale linked to flash crash on Bitstamp resurfaces with a massive buy order

An Ethereum whale is speculated to have caused a market crash on July 14, with a sell order of approximately 15,000 ETH pulling the price of Ethereum down from $290 to $190. This crash is understood to have bled over to Bitcoin, contributing to the king coin’s price slumping from $10,800 to $9,100, a massive […]
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Source: AMB Crypto

China Should Take Precautions against Facebook Crypto: Ex-PBoC Head

Facebook’s foray into the payment sector has drawn backlash from governments and regulators across the globe. This time, it is China fencing its borders to keep the social media giant out.
Xiaochuan Zhou, the former governor of the People’s Bank of China (PBoC), suggested the government to take precautionary monetary measures against Libra, the so-called Facebook Cryptocurrency. The noted economist, whose tenure saw China becoming the world’s second-largest economy, supported broader policy research to help prepare the financial systems against emerging payment solutions.
“In future,” he said, “there may emerge a more internationalized, globalized currency, a currency so strong that will cause major currencies to establish exchange relations with it. It may not necessarily be Libra, but there will be more institutions and people try creating it.”
Zhou realized the immense potential of Libra to become the face of the global dollarization trend. The reformist said the Facebook cryptocurrency is a better version of bitcoin because of its ability to avoid fluctuations and speculations and thus offering a more stable cross-border remittance solution.
“Meanwhile, Libra also faces challenges including AML and fund custody,” he added.

1/ Xiaochuan Zhou, former governor of PBoC: Libra reprensents the trend of digital currencies, China should take precautions. Zhou was the PBoC governor during 2013 to 2018, when the famous Chinese bitcoin exchange crackdown and ICO ban were conducted. pic.twitter.com/XAyHgVwRsY
— cnLedger (@cnLedger) July 10, 2019

Roadblocks before Facebook
Introduced in June, Libra quickly became a sore in the eyes of governments both at home and abroad. The US Congress last week asked Facebook to halt the project’s development until lawmakers investigate the possible consequences of it. In Europe, France’s Finance Minister Bruno Le Maire said he fears Facebook is attempting to replace sovereign currency with Libra.
Graphic Illustration Reflecting How Facebook Coin Libra Works | Image Credits: Facebook
Sentiments are the same in countries that are to benefit the most from Facebook’s cross-border remittance solutions. India, which receives approximately $80 billion annually from expats, is unsure about letting the social media giant take control of its payment sector. Subhash Garg, the secretary of India’s Economic Affairs Committee, told Bloomberg in an interview that they would most likely stop Libra from becoming a phenomenon in Asia’s third-largest economy.
“Design of the Facebook currency has not been fully explained. But whatever it is, it would be a private cryptocurrency and that’s not something we have been comfortable with.”
With China joining the ranks, Facebook’s plans of taking its cryptocurrency to 36.28 percent of the world’s population are looking bleak. PBoC, meanwhile, is ramping up efforts to create its own digital cash.
“We had an early start, but lots of work is needed to consolidate our lead,” said Wang Xin, director of the PBoC research bureau in an interview to SCMP.
Facebook Response
Mark Zuckerburg’s cryptocurrency team has sent letters to various US government offices, explaining they are not looking to invade users’ financial privacy or take over the existing economic framework. Facebook blockchain lead David Marcus gave a personal assurance about data privacy.
“Similar to existing and widespread cryptocurrencies such as ethereum and bitcoin, transactions that take place directly on the Libra Blockchain are ‘pseudonymous,’ meaning that the user’s identity is not publicly visible,” Marcus told the House Financial Services Committee.
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Libra is Not Bitcoin, CoinShares Exec Testifies Before US Congress

Facebook cryptocurrency Libra is an imitator of Bitcoin, Meltem Demirors of CoinShares testified before the US Congress on Wednesday.
The chief strategy officer appeared before the House Financial Services Committee to explain the difference between Bitcoin and thousands of cryptocurrency projects that takes inspirations from it. Putting Libra in the same bag of imitators, Demirors attempted to decouple bitcoin from it, focusing on how the cryptocurrency is entirely different than Facebook’s version of global payment service.
“We are seeing a wave of interest in cryptocurrencies and countless imitators which borrow some features but – decidedly – are not cryptocurrencies,” she said in her address. “Libra is not a cryptocurrency.”

The Differences
Demirors touched upon the various factors that separate Bitcoin from Libra, such as decentralization. The fact that no single entity or person could block or censor transactions on the bitcoin network undermined Libra, which is an entity controlled by a group of companies with the ability to practice censorship.
The CoinShares executive also stressed on the underlying value of Libra and Bitcoin. She highlighted that Libra would be pegged to a pool of fiat and other reserves. On the other hand, Bitcoin remains its own asset, backed by its own scarcity and demand for it.
“There is no entity that holds assets that give Bitcoin value,” Demirors clarified.
Third and last, Bitcoin is permissionless, meaning anybody can enter or exit its network without anybody’s permission. On the other hand, people will require to seek permission from Facebook to access Libra, which does not adhere to the idea of bitcoin.
Bitcoin is Not Going Away
Demirors’ statement appeared in the wake of Congress’ concerns about Libra which, following the comments of US President Donald Trump, got extended to the rest of the cryptocurrency sector. Trump last week bashed Libra and Bitcoin in a string of tweets. That sent the bitcoin’s spot rate down by 31 percent as of July 17, 11:00 GMT. The investors’ confidence in the cryptocurrency also suffered after Treasury Secretary Steven Mnuchin called it “a national security threat.”

I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019

The US Congress, meanwhile, kept its focus on Libra, a cryptocurrency it believed is an attempt to replace sovereign currencies. The lower house of representatives called on the Facebook executive David Marcus on Wednesday to get answers. Marcus affirmed that they would not launch Libra cryptocurrency without the permission of US regulatory authorities.
In her attempt to separate bitcoin from the Libra mess, Demirors reiterated that the technology is untouchable. She compared it with the internet, an open, distributed, and borderless protocol, which cannot be regulated or governed. She told the Congress:
“I urge you to view Bitcoin as an open public network that enables innovation and growth. And to treat Libra and its future imitators in the context of the facts: private efforts led by corporations holding billions of dollars of the public money. These things are not Bitcoin and not cryptocurrencies.”
The bitcoin price recovered by up to 10.55 percent following Demirors’ testimony. It is now trading at $9,428 on Coinbase exchange.
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IBM Stock Down Despite Earnings, Cloud Revenue Beat Wall Street View

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IBM Stock Down Despite Earnings, Cloud Revenue Beat Wall Street View
The latest Q2 reports show that IBM’s earnings and cloud revenue surpassed the projected street view while Bitcoin plunged below $10,000 as the US Senate has a go at Facebook’s Libra.
IBM Stock Down Despite Earnings, Cloud Revenue Beat Wall Street View

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‘Libra vs Alipay, WeChat’ Trending High on Chinese Search Engine

Since Facebook announced its new cryptocurrency “Libra,” it has faced resistance from global regulators and financial sectors. The People’s Bank of China, which in 2017 banned the use and trading of cryptocurrencies, has also expressed skepticism, believing that the US-controlled digital currency would circumvent its financial sovereignty.
But that is not stopping consumers in China from exploring Libra’s potential against leading regional payment services like WeChat and Alipay. Crypto news portal cnLedger reports that the keyword ‘Libra will compete with Alipay and WeChat’ is trending on the number 2 position on Weibo, China’s equivalent to Google.

China is paying attention – "Libra will compete with Alipay and WeChat" is now the 2nd hottest search on Weibo (Chinese Twitter). pic.twitter.com/nsMJ4kvHvC
— cnLedger (@cnLedger) July 18, 2019

Libra against Capital Control
The trend emerges as China continues to clamp down on funds leaving the country. According to EUSME, the Chinese government has imposed a string of measures to curb capital outflow, which includes higher scrutiny over Merge & Acquisition transactions, limitations on forex transfers, buying limits, and reporting of overseas transactions that exceed 200,000 RMB.
Facebook’s Libra, on the other hand, proposes to offer a global payment network pegged to a pool of convertible fiat currencies. The project has received backing from leading payment processing firms like Visa and MasterCard, meaning it could practically become a de facto online currency in the future.
Graphic Illustration Reflecting How Facebook Coin Libra Works | Image Credits: Facebook
Libra aims to make cross-border payments more comfortable, which could subvert Beijing’s efforts to enforce capital controls. The people in the country, meanwhile, have already discovered bitcoin, a decentralized cryptocurrency that became the inspiration for Facebook to launch Libra. Despite an ongoing ban, investors continue to use bitcoin as a tool against capital controls via peer-to-peer methods.
Up until May, both WeChat and AliPay had become an alternative payment system to settle cryptocurrency-related trades. The state-regulated apps, in response, updated their payment policies that now prevent merchants from trading/dealing in bitcoin-related activities.
The surge in Libra’s trend in China appears to come partially from people looking for non-Chinese payment alternatives. On Monday this week, US Treasury Secretary Steven Mnuchin said the Facebook cryptocurrency is open to get misused by money launderers and terrorist financiers. That further applies to people looking to bypass capital restrictions.
Libra is Important in China
Wei-Tek Tsai, the chief scientist at Chinese blockchain firm, Tiande Technologies, believes Libra is essential in China despite the political and regulatory hurdles it might face. The expert said stablecoins represent a new financial frontier in the new currency competition. Excerpts:
“Some people may think it’s just a US company launching a stablecoin, not a fiat currency, and this company cannot operate in China, so Libra is not important. Is it? Now that the government and central banks from the US and Europe are all in on this, even though they may disagree on their positions. It has become a national-level public debate. How could it not be significant?”
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Buy Bitcoin? Legendary Investor Dalio Expects “Paradigm Shift” in Finance

Since Bitcoin (BTC) was birthed in the wake of 2008’s Great Recession, the macroeconomy has changed dramatically. Following the brutal collapse of the stock market and the housing bubble, which resulted in mass unemployment and bankruptcy, central banks commenced “easing strategies”.
By keeping Federal Fund and interest rates lows and participating in Open Market Operations (OMOs)/Quantitative Easing (QE), the U.S. Federal Reserve spawned a reflationary environment, during which stocks rallied to new heights and economic indicators flipped positive.
Related Reading: US Congressman: You Can’t Kill Bitcoin, Libra And Others Trying to Mimic
Across the pond, the story was similar, with the European Union also participating in QE and the Bank of Japan forcing interest rates to move under 0%.
In a recent blog post, however, a legendary hedge fund manager warned that a “paradigm shift” is on the horizon, leading him to advise readers to buy gold.
Unsurprisingly, many in the cryptocurrency community have taken that as a suggestion to scoop up Bitcoin. Why is this the case though?
Buy Bitcoin, Buy Gold
According to Ray Dalio’s latest LinkedIn post, titled “Paradigm Shifts”, the world’s economy is poised to enter a tough time. In the essay-esque piece, the Bridgewater Associates co-chairman warned of central banks’ effort to devalue their currencies and inflate the economy somewhat artificially.
He also used historical shifts in the macroeconomic and geopolitical climate, like the World Wars and the Great Depression, to explain that the economy is poised to see a “paradigm shift”.
Related Reading: Bitcoin Could Drop Towards $6,100 While Still Maintaining Parabola
This paradigm shift, according to Dalio, who has a net worth of $18 billion, will see “the value of money depreciate ” and “significant domestic and international conflicts. In other words, the writing is on the wall for an alternative asset and stores of value, like gold or Bitcoin.
Dalio recommends gold, writing that it may be “risk-reducing and return-enhancing” for investors to add the precious metal to their portfolio, adding that securities and bonds could face diminishing returns.
Arguably, that was also a tacit recommendation to buy Bitcoin. You see, the inflationary policies currently being enlisted are, according to former Wall Streeter Travis Kling, “brazenly bullish for a non-sovereign, hardcapped supply, global, immutable, decentralized digital store of value.” And by that, he obviously means BTC.
Unlike traditional monies and even gold (in some cases), Bitcoin is not susceptible to warrantless, hidden inflation and is not controlled by a central authority. So, if (or when) the economy collapses due to a mishap on the part of central bankers, many, including Kling, are sure that alternatives monies will see massive inflows.
Dalio, Not a Fan of BTC
While Bitcoin arguably exhibits the same properties as gold, Dalio’s isn’t a big fan of digital assets, presumably hence why he didn’t dare to utter BTC.
In fact, as reported by NewsBTC last year, Dalio called cryptocurrencies a “bubble”, noting that the Bitcoin market is based mostly on speculation, meaning that there is a lack of real-world usage.
But one thing is for certain, there is some financial turmoil right on the horizon. As the Bridgewater co-chairman explained in an interview earlier this year:
“There are a lot of parallels between now and the late 1930s. From 1929 to 1932 we had a debt crisis — interest rates hit zero. Then there was a lot of printing of money, and purchases of financial assets brought their prices higher.”
Featured Image from Shutterstock
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Mainstream media has misled vulnerable users on the environmental impact of crypto-mining

Crypto’s mainstream adoption has not only unleashed a new paradigm for global finance, but also raised a fresh set of concerns for its sub-ecosystem, crypto-mining. In order to uncover the truth behind the impact of digital mining, Peter McCormack interviewed University of Cambridge’s Michel Rauchs to discuss the institution’s research on Bitcoin’s power consumption and carbon […]
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Source: AMB Crypto

Bitcoin’s ‘realized market capitalization’ at an all-time high as price continues to suffer following Libra’s Senate hearings

Bitcoin’s massive plunge in valuation recently has shook the cryptocurrency market. The world’s largest cryptocurrency falling below the decisive $10k support following Libra’s ‘interrogation’ before the United States’ Senate Banking Committee has many analysts doubting their bullish predictions. However, despite the fact that most short-term metrics were bearish, the king coin’s ‘realized capitalization’ was at […]
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Source: AMB Crypto

Litecoin Leads The Way: As Bitcoin Plummets, Altcoins Rise Across the Board

The crypto market is at a critical junction. Altcoins such as Litecoin, Ethereum, and Ripple have been capitulating, then bouncing as Bitcoin begins to struggle with its return to a bull market. Since this began, the crypto market has also been impacted by pending regulation and Facebook’s entry into the space.
But before the bearish trend continues, altcoins have been rising across the board, with Litecoin leading the way as it has in the past. With its halving just ahead, will we see a resurgence in altcoins, or will Bitcoin drag down any momentum they’ve recovered thus far?
Litecoin Halving Approaches: Where is the Pump?
The crypto community has long been talking of the effect halving such as what occurs in Bitcoin and Litecoin would have on each asset’s valuation, and the sentiment around the market as people seek to front run what they expect to be a pump-causing event.
Discussion of Litecoin’s halving permeated the industry throughout the first half of 2019, when Litecoin and other altcoins outperformed Bitcoin by a wide margin. From Litecoin’s bottom at $20, it rose to a high of $140 representing over 600% gains for investors. Bitcoin by comparison rose from $3200 to $13800, an over 300% gain.
Related Reading | The United States’ Distrust in Facebook Libra Is Spilling Into Crypto 
Litecoin often leads rallies, and in a sense, lights the path for the rest of the altcoin market to shine. The same has happened this week as the spotlight has been put on the crypto market thanks to Facebook’s Libra cryptocurrency, and has turned the entire industry upside down with fears over looming regulation from the United States and other superpowers.

Altcoins Heat Up Following Bitcoin’s Drop
Altcoins have spent the second and third quarter of 2019 thus far falling in value relative to Bitcoin. Whether this was driven by Binance shutting off US customers to much of the altcoin market, or if investors were dumping alts into the rising Bitcoin, altcoins have done nothing but suffer and cause suffrage for those that hold the alternative digital assets.
But ever since Bitcoin fell below $10,000, the altcoin market is once again heating up.
Related Reading | US Treasury Increases Regulatory Pressure on Crypto, Warns of Its Unlawful Uses 
Over the last 24 hours, Ethereum, Ripple, Tron, and Bitcoin Cash have all risen roughly 5%, while Litecoin has led the rally with a staggering 14% gains on the day. The next biggest gainer of the top ten was Bitcoin SV, which saw a 7% spike.
On the CoinMarketCap biggest gainers and losers, the altcoin market is showing gains as high as 359% over the last 24 hours. Does this mean that the bull run is back, but maybe just not for Bitcoin and alts will have their “season” everyone has been talking about? Or is this just a big bounce from oversold conditions that will resume once Bitcoin drops?
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Bitcoin Could Drop Towards $6,100 While Still Maintaining Parabola

Bitcoin’s recent bout of downwards pressure has now sent its price decisively below $10,000, which appears to have marked the end of the long period of bullish momentum that BTC has experienced over the past several weeks.
Importantly, the recent drop has been leading many analysts to believe that the cryptocurrency has violated the parabolic formation it has formed in the past several months, but one prominent trader is now noting that BTC could possibly drop towards $6,100 and still maintain its parabolic formation.
Bitcoin Plunges Nearly 10% as Bears Take the Wheel
At the time of writing, Bitcoin is trading down over 7% at its current price of $9,680, down significantly from its recent highs of $10,600.
BTC’s recent move to the four-figure price region was first sparked in late-June when the cryptocurrency failed to decisively move past its 2019 high of $13,800, which proved to be a strong level of resistance that sparked the recent sell-off.
Although the drop below $10,000 is certainly negative for Bitcoin’s bulls, it is important to note that the crypto is still trading up significantly over a three-month period, as it is currently up from lows of $5,000, which were set in late-April.
Importantly, many analysts have been closely watching to see if Bitcoin violates the parabola it has formed in recent days, but Mr. Anderson, a popular cryptocurrency analyst on Twitter, explained that BTC may have several parabolic trend lines that could act as strong support, with the lowest one existing around $6,100.
“$BTC Parabolic Curve: Calling the end of a large Parabolic Curve is NOT EASY. It seems obvious & that is why it is hard. We already have a couple of fairly logical para-trend lines that we had to cancel & we have a cpl more that may end up being canceled as well,” he explained while referencing the below chart.

$BTC Parabolic Curve
Calling the end of a large Parabolic Curve is NOT EASY. It seems obvious & that is why it is hard
We already have a couple of fairly logical para-trend lines that we had to cancel & we have a cpl more that may end up being canceled as well#TrueCrypto28 pic.twitter.com/crZivyb6vO
— Mr. Anderson (@TrueCrypto28) July 16, 2019

BTC Bears Celebrate as Selling Pressure Ramps Up
Although many Bitcoin critics had been quiet during its recent ascent, the same critics are now celebrating its recent losses, with Nouriel Roubini, a renowned economist and one of the most outspoken critics of the cryptocurrency, boasting about the fact that BTC is down 55% from its all-time-highs.
“BTC down 33% from June peak & 55% from ATH. It must hurt to get rekt so much! Calling bitcoin a currency, let alone 1000s of shitcoins down 95% from ATH, is a joke: not a unit of account, not means of payments (5tps); no stable store of value (-15% in a day),” he exclaimed in a recent tweet.

BTC down 33% from June peak & 55% from ATH. It must hurt to get rekt so much! Calling bitcoin a currency, let alone 1000s of shitcoins down 95% from ATH, is a joke: not a unit of account, not means of payments (5tps); no stable store of value (-15% in a day). CRYPTO-ZOMBIE-LAND!
— Nouriel Roubini (@Nouriel) July 17, 2019

Nouriel’s framing of Bitcoin’s recent price action is quite interesting, however, as it also signals just how far its price has come in recent times, recovering significantly from where it was at in December of 2018, where it was trading down over 83% from its all-time-highs.
As the week drags on and BTC reacts to its newfound position within the four-figure price region, analysts and investors alike will hopefully gain greater insight into where the aggregated markets are heading next.
Featured image from Shutterstock.
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US Congressman: You Can’t Kill Bitcoin, Libra And Others Trying to Mimic

All eyes are on Bitcoin, Facebook’s Libra, and the entire cryptocurrency market this week, following a tweet from the United States President Donald Trump, a Senate hearing on Libra, and an abundance of financial industry chatter as the crypto market takes its first steps towards serious regulation and legitimacy.
But before it happens, Bitcoin still has growing pains to go through. The asset has been performing well since it’s bear market bottom, but the sudden fear over the coming regulation has caused the entire market to panic and a sell off has begun. However, one United States Congressman offers some reassurance to Bitcoin investors: “there’s no capacity to kill Bitcoin.”
U.S. State House Representative Patrick McHenry: You Can’t Kill Bitcoin
The talk across the financial space and corporate world is currently about Facebook, Mark Zuckerberg, and the corporation’s plans to launch its own digital currency called Libra. The company has formed a consortium with other major corporations to launch what they envision to be the future of money: a fiat-backed cryptocurrency in the vein of Bitcoin, but with additional controls and centralization – the complete opposite of what Bitcoin stands for.
Related Reading | The United States’ Distrust in Facebook Libra Is Spilling Into Crypto 
The emergence of Facebook Libra has brought a nasty rain cloud over the crypto industry that had just shed its “crypto winter.” Now, as another storm is on the horizon, many are preparing for the worst – such as the destruction of Bitcoin and cryptocurrencies.
But Bitcoin cannot be killed, according to North Carolina House Representative Patrick McHenry, who defended the first ever cryptocurrency on a segment of the CNBC’s Squawk Box says that he thinks “there’s no capacity to kill Bitcoin.”

"I think there's no capacity to kill bitcoin" says @PatrickMcHenry #btc pic.twitter.com/DY70tx2TvV
— Squawk Box (@SquawkCNBC) July 17, 2019

“I think there’s no capacity to kill Bitcoin. Even the Chinese with their firewall and extreme intervention in their society could not kill Bitcoin,” he added.
The comment was made in response to CNBC technology correspondent Josh Lipton who had asked the politician if regulators like himself would “allow the emergence of these new types of currencies if they don’t look a lot like the regulations and guardrails we currently have around fiat currency and money.”
Altcoins Are Not As Safe From Regulation or Destruction
McHenry believes that as a first mover in the space, and because Bitcoin’s distributed ledger it’s decentralized, it cannot be stopped, as its creator had intended.
As for altcoins, the policy maker says that “new iterations of” Bitcoin are trying to “mimic it,” but because they aren’t fully open source or completely decentralized, there’s “mechanism” to destroy or control them that just don’t exist in altcoins.
Related Reading | Bitcoin Blasts Below $10K, Following Senate Hearing on Facebook Crypto 
Lipton poses the example of what if “Coinbase cannot accept money from a US citizen,” suggesting such regulation would be incredibly harmful for Bitcoin.
“I’m not saying you you will shut down Bitcoin, it will exist somewhere, and be sort of in a dark web kinda situation, but it would effectively make it difficult for the mainstream to use it.
McHentry argues that it isn’t yet mainstream, and that even if Bitcoin may be forced to live in the “shadows,” it’ll live on. He added that it’s something that people once “gave away fro free” and now it’s worth nearly $10,000 per coin and something that companies like Facebook and others are trying to “mimic.”
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Facebook’s Libra is the ‘money to go along with the internet’ and it ‘excites me,’ says SEC’s Hester Peirce

Hester Peirce aka Crypto Mom, spoke at Fortune’s Brainstorm tech event recently, explaining her views about regulations for cryptocurrencies and the approach taken by her peers at the SEC. The SEC Commissioner also opined on the hot topic at the moment, Facebook’s Libra. Peirce stated that the SEC is trying its best by visiting places, […]
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Bitcoin Bulls Resign, BTC Price Slumps 24.6% in Rout

Bitcoin (BTC) is down 24.6 percent
Governments ready to tame cryptocurrencies as they avert a possible clash with central banks

According to analysts, governments and regulators are planning to “kill” cryptocurrencies and Bitcoin. That’s because of their decentralization and ability to empower end-users. Meanwhile, BTC is printing double-digit losses, sliding 24.6 percent week-to-date.
Bitcoin Price Analysis
Fundamentals
Blockchain is said to be the most significant innovation in the 21st century. And gladly, it is not rocket science to figure that out. From Satoshi’s ambition of seeing complete decentralization of power, Bitcoin is a force. But there is a bigger force keen on stopping the propagation of Bitcoin from shaping livelihood and disrupting the status quo.
With banks firmly in control of how finances flow around the world, the elites including some of the world’s leading governments are not ready to shed an ounce of that privilege according to analysts’ view. China and India are clear, closing channels of liquidity for cryptocurrencies.
Now, the US government is zeroing in on Libra and by extension Bitcoin. Claiming their use should be under oversight as Libra is specifically a threat to the US national security, commentators view this as an attempt to “kill” cryptocurrencies. Talking to Forbes, Iain Wilson, Advisor at NEM Ventures, said:
“Public blockchains are inherently decentralized which empowers individuals and enables radically different business models. This has major ramifications for the ultimate centralized entities – big government, big corporates, and the guardians of the banking sector: Central Banks. Balancing power between these two poles will require major public policy debate and potential clashes. This is what we are starting to see.”
Candlestick Arrangement

Currently, sellers are at the front seat, guiding prices. In the last week alone, BTC prices are down 24.6 percent, shedding 8.7 percent in the previous day. Undoubtedly, bears are back. In a possible correction, odds are BTC prices stand to drop to $5,500 or lower.
It is easy to see why. Not only is there a clear three-bar bear reversal pattern visible in the weekly chart, but in smaller time frames, sell momentum is strong. Notice that the banding of bear candlesticks along the lower Bollinger Bands (BB).
Besides, accompanying this drawdown are increasing trading volumes indicative of resignation by buyers and subsequent exit of long positions. Because of this, every retracement is another opportunity for exiting longs while bears can aim at $7,500 and later $5,500 as aforementioned.
Technical Indicators
Because of increasing volumes and dropping prices, bears are in control. Should sellers press lower and prices fall below $7,500 with high trading volumes exceeding those of week ending June 30 at 299k, BTC stands to slide to $5,500.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Former EXMO Analyst Pavel Lerner About His Kidnapping, Security, and New Job

Coinspeaker
Former EXMO Analyst Pavel Lerner About His Kidnapping, Security, and New Job
After keeping silence for more than a year after kidnapping, former EXMO analyst Pavel Lerner has given his first interview to the media.
Former EXMO Analyst Pavel Lerner About His Kidnapping, Security, and New Job

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Source: CoinSpeaker

Institutional Crypto Demand Abounds Despite Volatility and Regulatory Woes

Bitcoin and the aggregated crypto markets have been incurring extreme volatility as of late which has caused many analysts and investors alike to question the longevity and long-term significance of the recent bull run that has ensued for the past several months.
Now, recently released data from Grayscale regarding the eb and flow of funding into their various crypto market funds signals that institutional and retail interest in the crypto markets is still high, despite regulatory woes and massive volatility.
Institutions Still Interested in Crypto, Despite Recent Volatility 
One key takeaway from Grayscale’s Q2 2019 Digital Asset Investment Report is that institutional demand for Bitcoin and other cryptocurrencies is still incredibly high, which is positive while considering that some analysts feared regulatory concerns and volatility would drive them away from the nascent markets.
“This quarter, institutional investors comprised the highest percentage of total demand for Grayscale products (84%) since we began publishing this report in July 2018,” Grayscale explained.
Although the trend of institutions foraying into the markets has been on the up-and-up for the past year, it is important to note that Bitcoin’s recent parabolic rise to $13,800, and subsequent drop towards its current price around $10,000, may have reminded many institutions as to just how immature and volatile the crypto markets still are.
In some ways, however, this volatility could be viewed as a positive thing for institutions, as it diversifies their portfolio’s daily performance due to BTC and other cryptos being uncorrelated with the traditional markets.
Additionally, the risk-return ratio on most cryptocurrencies is significantly higher than that found within the traditional markets, which means that the potential for profit is massive.
Regulatory Concerns May Ultimately Slow Institutional Entrance
Although volatility could be seen as both a pro and a con of the crypto markets, one concern that is likely to have a larger impact on the number of institutions that enter the markets is bourgeoning regulatory concerns.
Recently, the crypto industry has faced a torrent of less-than-positive commentary about Bitcoin and other cryptocurrencies from major political leaders, including US President Donald Trump and US Treasury Secretary Steven Mnuchin, who both critiqued the nascent markets, with the Treasury Secretary deeming crypto a “national security issue.”
Although analysts are noting that these comments seemed to rule out any type of Bitcoin ban, it does signal that a regulatory crackdown is looming on the horizon, and that Facebook’s recently announced Libra initiative may not ever come to fruition.
“On the positive side, a bitcoin ban seems out of the question. However, a US ban was unthinkable 5 days ago, before the Trump tweet. On the negative side, Libra (which is positive for $BTC) seems toast, while institutional interest in the asset class may diminish,” Alex Krüger, an economist who focuses primarily on crypto, said in a recent tweet.

On the positive side, a bitcoin ban seems out of the question. However, a US ban was unthinkable 5 days ago, before the Trump tweet.
On the negative side, Libra (which is positive for $BTC) seems toast, while institutional interest in the asset class may diminish.
— Alex Krüger (@krugermacro) July 15, 2019

As the week drags on and the world further reacts to the possibility of a sudden influx of new federal regulatory measures, it is likely that it will soon grow clear as to what impact it may have on institutional interest in the markets.
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