Monthly Archives: November 2019

How Crypto Winters of Bitcoin’s Past Compare to Today

Cryptocurrency and bitcoin proponents have been patiently waiting to see if crypto winter is returning as the recent price decline has shaken investors. Digital assets have been meandering aimlessly over the last week and in order to gain some perspective, it’s always good to study the last decade of previous bear market trends. Also read: China Removes Bitcoin Mining From Unwanted Industries List Crypto Prices Slide Again, Making Traders Question Whether Crypto Winter Is Really Over After BTC and other digital currencies touched all-time highs in 2017, […]

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Zcash Creator Donates Company Trademark to the Zcash Foundation

After launching Zcash in 2016, Electric Coin Company gave the Zcash trademark to the Zcash Foundation. Electric Coin Company (ECC) has donated the Zcash trademark to the Zcash Foundation. ECC created and launched the privacy-focused cryptocurrency Zcash (ZEC) in 2016, and will now own the trademark bilaterally with the corresponding foundation. ECC and the Zcash Foundation have been in negotiations since August Upon an agreement signed on Nov. 6, the Zcash Foundation will be financially responsible for costs associated with assigning and protecting the trademark. Announcing the […]

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Why Did Bitcoin Price Drop Below $9,000? A Pivotal Weekend Ahead

Bitcoin finally broke below $9,000 but has managed to pare some loses prior to what will likely be a pivotal weekend that will determine where the price is headed. Bitcoin price (BTC) fell 5% today to a new weekly low at $8,660, a point which is also below the 200-day moving average which has been acting as support since reclaiming it in the final week of October. Almost all other crypto-assets have also suffered a valuation loss against the U.S. dollar, but there has been some resilience […]

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Russia Prepares Law to Allow Cryptocurrency Confiscation

According to local reports, Russia’s Ministry of Internal Affairs and other law enforcement agencies are developing proposals to confiscate cryptocurrencies. These proposals could evolve into Russian laws as soon as 2021.  “Russia plans to develop a legal mechanism for the seizure of virtual assets for their confiscation,” according to a translated report from RBC. “The relevant proposals should be prepared by December 31, 2021 by the Ministry of Internal Affairs together with [federal financial monitoring branch] Rosfinmonitoring, the Prosecutor General’s Office, the Investigative Committee, the Justice Ministry […]

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Price Analysis 08/11: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

Several cryptocurrencies have turned down sharply from their overhead resistance levels. This is a sign of weakness. Though crypto markets are in a consolidation phase, the number of first-timers investing in this nascent space has almost doubled, according to data from Square Cash App. This is a positive sign as it shows that investors are using the dips to buy cryptocurrency. In another positive for the crypto space, research by the recruitment firm Indeed.com has found that cryptocurrency job requirements have risen in the past year even […]

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Holders of the Digital Yuan Will Not Be Paid Interest

China has been sending mixed signals about its preparedness to issue a national crypto. Despite the new blockchain push, there is still no timeframe for the anticipated launch of the digital yuan and few details have been revealed so far. However, a senior official from China’s central bank pulled the curtain back slightly this week. Also read: Turkey Becomes the Latest Nation to Work on Digital Fiat China’s Semi-Blockchain Based Currency to Start a ‘Horse Race’ Beijing’s Digital Currency Electronic Payment (DCEP) project, which will be similar […]

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Malaysia to Impose Cash Transaction Limit of $6K in 2020: Report

Malaysia’s 2020 cash restrictions will affect everything except humanitarian aid and regulated financial institutions. Malaysia is planning to impose a $6,000 limit on cash transactions in 2020, according to a deputy governor at the country’s central bank. The new restrictions aim to prevent the use of cash in illicit activities, and won’t affect regulated financial institutions or other entities transacting for humanitarian aid purposes. The average Malaysian household spends $1,900 per month Abdul Rasheed, the deputy governor in question who works for Bank Negara Malaysia (BNM), claimed […]

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Bitcoin Price Diary: Long Bitcoin, Bullish on Altcoins – XLM, VET, ONE

Veteran trader opens a FOMO position on Stellar Lumens and a few other altcoins while Bitcoin price continues to trade sideways and numerous top-10 cryptocurrencies post gains. Altcoins have been inching their way deeper into my trading routine and this seventh entry of the crypto trading journal features a newly opened position on VeChain (VET), as well as a timely buy of Stellar Lumens (XLM). I am still long on Bitcoin (BTC) from under $9,000, as price moves sideways. XLM/BTC Part 1: Setting up the trade Entries: […]

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Bitcoin Drops $300, Daily Losses Among Altcoins Reach 10%

After dipping below the $9,000 threshold, Bitcoin continued to see downward trend, down 5.6% over the day at press time. Falling below $9,000, Bitcoin (BTC) has seen another dip today and its price dropped over $200 in an hour. Alongside Bitcoin, the top 20 cryptocurrencies by market capitalization are seeing major losses of nearly 10% over the past 24 hours, according to data from Coin360. Market visualization. Source: Coin360 Following a fresh price decline, Bitcoin is trading down 4.9% at $8,736. With its intraday high of $9,253, […]

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Crypto Tax Guidelines Leave More Questions Than Answers

Cryptocurrency holders have long wrestled with their tax obligations. These fiduciary duties have been complicated by tax agencies, which are several steps behind technology and now playing crypto catch-up. Updated guidelines from the U.S. and U.K.’s tax agencies were finally released this year, but the initial relief felt by conscientious bitcoiners was to prove short-lived, for on closer examination, the documentation has left many crypto questions unanswered. Also read: Crypto-Friendly Silvergate Bank IPO Debuts on NYSE It’s 2019 and Tax Is Still Taxing The lack of uniformity […]

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