Monthly Archives: January 2021

Bitcoin Will Rise Above $100,000 In 2021

2020 was unforgettable, especially for Bitcoin. To help memorialize this year for our readers, we asked our network of contributors to reflect on Bitcoin’s price action, technological development, community growth and more in 2020, and to reflect on what all of this might mean for 2021. These writers responded with a collection of thoughtful and thought-provoking articles. Click here to read all of the stories from our End Of Year 2020 Series. The Bitcoin bet: heads I win, tails you lose. I bet that going into 2020, […]

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FinCEN to Impose New Regulation for Crypto Holdings at Foreign Exchanges

The Financial Crimes Enforcement Network (FinCEN) has announced that it will soon propose new regulation affecting cryptocurrency holdings at foreign exchanges. This proposal is separate from the one FinCEN recently proposed on cryptocurrency wallets. FinCEN’s New Crypto Rules FinCEN, a bureau of the U.S. Department of the Treasury, issued a notice on Thursday regarding a new filing requirement for cryptocurrencies. FinCEN detailed: Currently, the Report of Foreign Bank and Financial Accounts (FBAR) regulations do not define a foreign account holding virtual currency as a type of reportable […]

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Crypto derivatives gained steam in 2020, but 2021 may see true growth

Crypto derivatives showed enormous growth in 2020 as nearly $2 billion worth of BTC options expired on Christmas day. 2020 was the most important year for the crypto derivatives market so far. Both Bitcoin (BTC) and Ether (ETH) derivatives steadily grew throughout the year, with their futures and options products available across exchanges such as the Chicago Mercantile Exchange, OKEx, Deribit and Binance.  On Dec. 31, Bitcoin options open interest reached an all-time high of $6.8 billion, which is three times the OI seen 100 days before […]

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Bitcoin hits all-time high against gold as haven battle rages

BTC has hit another milestone, this time against gold bullion, the world’s oldest reserve asset. The Bitcoin (BTC) price claimed another all-time high on Friday, this time against gold, offering further confirmation that demand for digital assets is on the rise.  As Bitcoin zipped past $29,000 on Friday, the digital currency reached a high of 15.40 gold ounces, surpassing the previous peak from Dec 2017, according to MarketWatch data. Bitcoin priced in gold bullion via MarketWatch According to U.Today, the Bitcoin-gold rate peaked at 15.62 ounces during […]

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Price analysis 1/1: BTC, ETH, XRP, LTC, DOT, BCH, ADA, BNB, LINK, BSV

Altcoins could also see a strong buying interest and may run up vertically if Bitcoin rallies above $30,000. Bitcoin (BTC) rallied from an intraday low at $17,573.29 on Dec. 11 to an intraday high at $29,310.19 on Dec. 31, a 66.78% rally in a short span. This shows strong demand from traders at every higher level. Institutional crypto investment giant Grayscale bought 72,950 Bitcoin in December, which was 159.49% more than the 28,112 Bitcoin mined during that period, according to data from Coin98 Analytics. It is not […]

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US Government Fines Bitgo for Allowing Users to Bypass Sanctions With Cryptocurrency — 183 Violations

The U.S. Office of Foreign Assets Control has fined Bitgo for failing to prevent users in sanctioned countries from using its crypto wallet service. The agency says Bitgo processed 183 cryptocurrency transactions that were “apparent violations of multiple sanctions programs.” US Treasury Alleges Bitgo Allows Users to Bypass Sanctions The U.S. Department of the Treasury announced on Wednesday that the Office of Foreign Assets Control (OFAC) has entered into a $98,830 settlement with Bitgo “for 183 apparent violations of multiple sanctions programs.” Bitgo offers cryptocurrency wallet services. […]

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Crypto transactions must be easier. That’s it. That’s the headline

The gulf between users and those who are designing cryptocurrency service platforms must be bridged before the masses will make the leap. As Bitcoin’s (BTC) price continues to climb ever higher, more and more people are beginning to educate themselves on how they can enter the cryptocurrency market. However, the realities of cryptocurrency ownership (long complicated addresses, passphrases and security risks) all remain barriers to adoption for new users. Programmers and technologists generally assume a level of understanding and ability with tech innovations that the average person […]

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Congresspeople chastise the Treasury for rushing new crypto monitoring proposal

As many in the crypto industry have said, 15 days over the holidays is just not enough time to respond. Nine congresspeople have signed on to a letter to Treasury Secretary Steven Mnuchin, telling him to hold his horses.  The Thursday letter is in response to the Treasury’s recent proposal to make registered crypto businesses hold on to more customer information, especially when transacting with self-hosted wallets. The proposal has been met with widespread outrage from the crypto community. Among grievances, many cite the fact that Mnuchin is pushing […]

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Alleged ‘kingpin’ of a 25M rupee Indian crypto scam arrested at Delhi airport

The man is said to have convinced people to invest in a 2017 scheme promising monthly returns of over 20%. A 60 year-old man was arrested at Indira Gandhi International Airport in Delhi on Dec. 31, for allegedly heading a 25 million rupee ($340,000) cryptocurrency scam. Umesh Verma, a former jeweller and greeting card maker, was held by the Economic Offences Wing of Delhi police after arriving from Dubai. Police allege that Verma, along with his son Bharat, convinced hundreds to invest in a scheme going by […]

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Number of Addresses Holding ETH Reaches a New All-Time High at the End of 2020

A new milestone has been reached in the crypto sphere, as the number of addresses holding Ethereum hit an all-time high of over 51.4 million before the end of a turbulent 2020 year. Number of Addresses Holding ETH Hits a New All-Time High Per figures of data site Glassnode, there are now 51,491,730 addresses holding the aforementioned cryptocurrency, as it keeps climbing in the context of a rally seen in the prices of most cryptos in the last weeks of 2020. The number is significant, considering that […]

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