Monthly Archives: August 2019

Bitcoin Price Must Sustain $12K Level for Highest Weekly Close in 2019

Three days separate Bitcoin price from its best-ever weekly close of 2019, as markets hover in mid $11,000s. Bitcoin (BTC) price was battling resistance at $12,000 Aug. 9 despite bullish predictions continuing to focus on more growth. Market visualization. Source: Coin360 Weekly record ahead for Bitcoin? Data from Coin360 put BTC/USD at almost the same place it was 24 hours previously, the pair having swung between $11,500 and $12,030 in the meantime.  At press time, Bitcoin traded at $11,760, marking current daily losses of 0.8%, while weekly […]

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Bitcoin Price Will Hit $250K by Q1 2023 Despite Consolidation, Says Tim Draper

The bigtime Bitcoin bull has told mainstream media his long-term prognosis remains valid. Bitcoin (BTC) price will still hit $250,000 but its status as a safe haven asset could see investors waiting a little longer than planned, serial VC investor Tim Draper says. “People have consolidated towards Bitcoin” Speaking in an interview with Yahoo! Finance on Aug. 9, the notoriously bullish Draper doubled down on his prediction that Bitcoin will hit $250,000 by 2023. Due to current trends, however, there might be a slight delay to the […]

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Blockchain Solution Spending to Hit $16 Billion by 2023: IDC Report

Worldwide spending on blockchain solutions is expected to hit almost $16 billion in 2023, IDC’s latest report reveals. Worldwide spending on blockchain solutions is expected to hit almost $16 billion in 2023.  A new report published on Aug. 8 by United States-based market research firm International Data Corporation (IDC) forecast that overall spending on the technology will reach $15.9 billion in 2023, at a five-year compound annual growth rate (CAGR) of 60.2% between 2018-2023. Blockchain spending in 2019 to rise 80% IDC’s Worldwide Semiannual Blockchain Spending Guide […]

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German Company Secures €750 Million ‘Eco-Friendly’ Loan Via Blockchain

A major German engineering company has raised a 750 million euro ‘green’ loan using a blockchain-based syndicated loan platform. German-based Dürr, one of the world’s leading mechanical and plant engineering firms, has secured a sustainability loan of 750 million euros, the interest on which is linked to its eco-friendly performance.  The credit agreement, reported on Aug. 8 by Finance Magazine (German), was self-initiated by Dürr, utilizing a blockchain-based syndicated loan platform. The consortium process was also digitized and backed by blockchain. The ins and outs of sustainable […]

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Fidelity Joins Blockstream’s New Institutional Bitcoin Mining Service

Blockstream announces two massive data centers for Bitcoin mining co-location, and the world’s first BetterHash pool. Blockchain technology company Blockstream has announced details of its Bitcoin mining services. In a blog post on Aug. 8, the company revealed two massive data centers for enterprise class co-location services, along with Blockstream Pool, using the BetterHash protocol. Its aim is to maintain the decentralization of the Bitcoin network. Your Bitcoin mining equipment, Blockstream’s data-centers The data centers, located in Quebec and Georgia, account for a combined 300 megawatts of […]

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US Exchanges Race to Launch Regulated Physically-Delivered Bitcoin Futures

The race to launch regulated physically-delivered bitcoin futures is back on for three US-regulated trading platforms after one of them hit a snag with the country’s derivatives regulator, the Commodity Futures Trading Commission. Two other exchanges are racing to launch similar products this year. Also read: SEC Commissioner: US Could Draw Crypto Policy From These Countries Ledgerx Approved for Swaps, Not Futures Three regulated trading platforms in the U.S. are vying to become the first to launch physically-delivered bitcoin futures. One of them almost reached the finish […]

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Expert: India Will Lose An Almost $13 Billion Market By Banning Crypto

The CEO of an Indian crypto and blockchain research company estimates that the country will lose out on almost $13 billion with a ban on crypto. Sidharth Sogani, the CEO of crypto and blockchain research firm Crebaco Global Inc, believes that India will lose around $12.9 billion worth of market if cryptocurrency is banned in the country. Sogani shared his reasoning with the news outlet AMBCrypto, which reported the matter on August 8. According to the report, Crebaco’s methodology included an analysis of how much revenue companies […]

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Grayscale Argues BTC Hedges, With US-China Trade War As Case Study

Grayscale suggests that Bitcoin is a hedge against economic turmoil, using the US-China trade war as a case study. Grayscale Investments, a digital assets investment firm that offers Bitcoin (BTC) trust shares, has published a case study on how BTC could be used as a hedge against financial instability. The firm used the case of trade tensions between the United States and China to make their point. Grayscale Investments linked to its study in an official blog post on Aug. 8. According to Grayscale’s analysis, they believe […]

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CFTC Policymaker With Long History of Work on BTC Futures Leaving

A CFTC policymaker with long involvement in Bitcoin futures regulation is stepping down after over two years of service. Amir Zaidi, the director of the United States Commodity Futures Trading Commission’s (CFTC’s) Division of Market Oversight (DMO) is rumored to be leaving the CFTC within weeks. Multiple anonymous sources aware of the situation have confirmed this claim, according to a report by Bloomberg Law on Aug. 8.  Zaidi has been the director of the CFTC’s DMO since January 2017. He is acknowledged as being responsible for creating […]

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Big Banks, Big Troubles: HSBC, Deutsche, Societe, and Citi Lay Off Thousands Worldwide

Banking giants are in trouble and it’s starting to show. Key players in the industry have already announced massive job cuts and executives with hefty salaries have been dismissed. HSBC, the largest bank in Europe, has revealed it plans to lay off over 4,000 employees and Citigroup is preparing to shrink its trading staff slashing hundreds of jobs. They are joining other global brands in a wave of layoffs hitting the unstable banking sector. Also read: More Signs the Next Big Financial Crisis Begins in Germany HSBC […]

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