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

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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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

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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.
Featured image from Shutterstock.
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Fear-1, FOMO-0: Cryptoverse exhibits telltale signs of an investment hiccup

The cryptoverse has again found itself at the crossroads of falling market capitalization and sideways price movements, giving birth to a new wave of mixed emotions across the cryptocurrency community. This is also in light of many arguing that the cryptocurrency ecosystem is going through a cleansing process by removing money-hungry players. Mati Greenspan, Senior Analyst […]
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Source: AMB Crypto

Bitcoin’s long-term sentiment bullish, despite present market scenario screaming bearish struggles

If a newbie without any prior information about Bitcoin enters the cryptospace right now, he would probably take one step back, turn and sprint away from the community. While Bitcoin has been recording a fairly successful 2019, the mood has dampened over the past few weeks. Since peaking on June 26th, Bitcoin’s price movement has […]
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Source: AMB Crypto

Bitcoin (BTC) Cracking As Government Drums For Regulation

Bitcoin (BTC) is down 14.8 percent
Steven Mnuchin is calling for cryptocurrency oversight and compliance

Eventual regulation of cryptocurrencies in the US, following Steven Mnuchin presser, could have far-reaching consequences on Bitcoin and cryptocurrencies. In the meantime, BTC is on edge and may slide to $9,500.
Bitcoin Price Analysis
Fundamentals
From launch, Bitcoin is considered a threat to the status quo. However, scrutiny was amplified following the parabolic rise of digital asset prices in Q4 2017 and meltdown of 2018 that highlighted the volatile nature of these emerging assets.
Attractive as they are, Bitcoin and cryptocurrencies, in general, are appealing to libertarians as well as those seeking refuge from economic turmoil. Even so, President Trump’s comments did spark a debate on the real value proposition of Bitcoin.
Claiming that the USD is the most powerful currency in the world, his concerns stem from BTC alleged use as a tool for money laundering. Trump adds that cryptocurrencies are based on “thin air.”
Less than 72 hours later, the US Treasury Secretary Steven Mnuchin press conference echoed Trump’s concerns as he explicitly calls for oversight. Terming the rise of cryptocurrencies as a threat to national security, Mnuchin said:
“Treasury has been obvious to Facebook, to bitcoin users and other providers of digital financial services that they must implement the same anti-money laundering and countering financing of terrorism, known AMLCFT safeguards as traditional financial institutions.”
Candlestick Arrangements

At the back of a consolidation, BTC bulls are weak and prices could print lower in days ahead. In line with previous BTC/USD trade plans, sellers are in a pole position and likely to press lower. Note that aside from the double tops of the mid-last week and late June, prices are below June 27 lows.
As such, it confirms not only the double bar bear reversal pattern of June 26 and 27 but the correction of June 26 overpricing. Because of this, traders should consider offloading BTC long positions on every pullback in smaller time frames.
In that case, the first target will be at $9,500 with possibilities of $7,500 or even $5,500 depending on the level of participation. On the flip side, any rally above $14,000 erasing losses of June 27 will spur gains to $15,000 and $18,000.
Technical Indicators
With support at $9,500, June 26 anchors this trade plan. Any reaction at this support line accompanied by a spike in trading volumes exceeding 82k would either confirm sellers or catalyze buyers aiming at $14,000.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Bitcoin, altcoins continue to struggle as correction wave hits vital cryptocurrency market metrics

While the cryptocurrency market’s rollercoaster ride comes as no surprise to its users, the ongoing correction streak, in tandem with U.S. government’s resistance, has fueled the depletion of the cumulative market capitalization. It is in light of all these developments that Altcoin Magazine released its latest edition of the Altcoin Review, tracking the growth and […]
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Source: AMB Crypto

OKEx Executive May Make Appearance at Tron Buffett ‘Power Lunch’

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OKEx Executive May Make Appearance at Tron Buffett ‘Power Lunch’
Now, with the lunch date set for Thursday, July 25, speculation is rife that Sun will invite a selection of dignitaries from the world of cryptocurrency and blockchain to meet Buffett. Among those likely expected at the lunch is OKEx executive.
OKEx Executive May Make Appearance at Tron Buffett ‘Power Lunch’

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Source: CoinSpeaker

U.S. Treasury Secretary: Bitcoin, Libra Pose National Security Threat

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U.S. Treasury Secretary: Bitcoin, Libra Pose National Security Threat
The Treasury Department has concerns that Libra, as well as Bitcoin, could be misused by terrorist financiers and money launders, to carry out illicit activities ranging from cybercrime to tax evasion, extortion, and ransomware.
U.S. Treasury Secretary: Bitcoin, Libra Pose National Security Threat

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Source: CoinSpeaker

Bitcoin Dominance Taps 70% in Recovery Rally, Are Altcoins Dead?

Bitcoin has made a bit of a recovery today in the wake of comments by US Treasury Secretary Steve Mnuchin. The 8 percent pump has left altcoins in the digital dust again as BTC market share knocks on the door of 70 percent.
Bitcoin Briefly Back at $11,000
This time yesterday Bitcoin was trading very close to $10k after falling below it briefly on Sunday. The king of crypto started to recover during US trading when it tapped $11,000 once again. There was no big dump from resistance and BTC has remained higher than Monday’s levels, trading at around $10,800 at the moment.
Long term trader ‘CryptoFibonacci’ has been eyeing the charts for possible areas of support and resistance and it is clear that just below $11k is one of them. The 50 day moving average is also key and this held during the big selloff over the past couple of days.
“The 38.2 Fib retrace, 10 and 20 ema’s are major resistance. So, it’s pretty simple to me. Get past this, or else.”

$BTC Daily Chart (Coinbase exchange).
The 38.2 Fib retrace, 10 and 20 ema's are major resistance. So, it's pretty simple to me. Get past this, or else.#BTC pic.twitter.com/PYiFnrRZPC
— CryptoFibonacci (@CryptoFib) July 16, 2019

Zooming out still shows an ominous head and shoulders pattern which is traditionally a bearish trend reversal indicator. That said, over the past three months Bitcoin has defied most technical analysis and done its own thing.
BTC Dominance High Is The Norm
Today’s 8 percent pump has lifted market dominance to 69.75% according to Tradingview.com. This equals the high in early December 2017 as Bitcoin was winding up to its big run up to ATH. The previous high was back in July 2017 when market share tapped 77.5%, and before then BTC was the only cryptocurrency.
BTC dominance. Coinmarketcap
Trader and Analyst Luke Martin has pointed out that a high Bitcoin dominance is the norm for crypto markets. For most of its history Bitcoin has dominated over 90% of the market, only in March 2017 did this start to change with the rise of Ethereum and other altcoins.
“$BTC dominance less than 50-60% is rare when comparing to historical average ~ 80%. I expect alt windows to keep happening, but it’s important to note $BTC making up larger share of crypto market is the norm – not the outlier. Alts make a great trade when the macro trend is up.”

$BTC dominance less than 50-60% is rare when comparing to historical average ~ 80%.
I expect alt windows to keep happening, but it’s important to note $BTC making up larger share of crypto market is the norm – not the outlier.
Alts make a great trade when the macro trend is up. https://t.co/ixUmWNm3gw
— Luke Martin (@VentureCoinist) July 15, 2019

At the moment the altcoins are still on the floor, very few have made any effort at recovery from yesterday’s altcoin apocalypse. Total crypto market capitalization is $13 billion heavier today but that is nearly all Bitcoin’s doing.
Only Bitcoin’s two siblings, BCH and BSV are making any substantial moves today as the rival coins add around 10 percent each climbing to $310 and $130 respectively.
Image from Shutterstock
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Bitcoin and Bitcoin Cash post significant gains as tensions over Facebook’s Libra continue to simmer

Bitcoin was moving north of its critical $10,300 mark, following prolonged losses that were speculated to be attributed to Facebook’s controversy-riddled, Libra, a project that has been at the receiving end of a lot of criticism recently. The latest drop below the psychological level of $10k came a day after US President Donald Trump’s critique on […]
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Source: AMB Crypto

Bitcoin Price (BTC) Trading Near Inflection Point After Recent Recovery

Bitcoin price started a decent upside correction after trading as low as $9,784 against the US Dollar.
The price traded above the $10,500 and $10,800 resistance levels to start the recent recovery.
Yesterday’s highlighted major bearish trend line was breached with resistance near $10,680 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price is now facing a strong resistance near the $11,000 and $11,100 resistance levels.

Bitcoin price started a strong recovery above $10,500 against the US Dollar. However, BTC is still struggling to settle above $11,000 and it could resume its decline in the near term.
Bitcoin Price Analysis
Recently, we saw a significant decline in bitcoin price below the $11,000 support against the US Dollar. The BTC/USD pair also spiked below the $10,000 support and settled below the 100 hourly simple moving average. A new monthly low was formed near $9,784 and the price recently started an upside correction. There was a strong upward move above the $10,300 and $10,500 resistance levels.
Moreover, the price traded above the 23.6% Fib retracement level of the last key drop from the $11,923 high to $9,784 low. Additionally, yesterday’s highlighted major bearish trend line was breached with resistance near $10,680 on the hourly chart of the BTC/USD pair. The pair even spiked above the 50% Fib retracement level of the last key drop from the $11,923 high to $9,784 low.
However, the price struggled to hold gains above the $11,000 resistance level. It seems like the $11,100 level and the 100 hourly SMA acted as a hurdle. Besides, the 61.8% Fib retracement level of the last key drop from the $11,923 high to $9,784 low also prevented gains. At the moment, the price is correcting gains below the $10,900 level. It seems like there is a breakout pattern forming with resistance near $11,100 on the same chart.
If there is a successful close above the $11,100 resistance and the 100 hourly SMA, there could be a convincing upward move towards the $11,500 resistance. Conversely, if there is no close above $11,000 and $11,100, the price is likely to resume its slide in the near term.

Looking at the chart, bitcoin price is clearly facing a strong resistance near the $11,000 and $11,100 levels. As long as the price is below $11,100 and the 100 hourly SMA, the bears remain in control. Therefore, BTC is likely to resume its downward move.
Technical indicators:
Hourly MACD – The MACD is about to move back in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD settled above the 50 level, but it lacking momentum.
Major Support Levels – $10,500 followed by $10,000.
Major Resistance Levels – $11,000, $11,100 and $11,500.
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