Monthly Archives: June 2021

Bitcoin sees 4.5% dip amid warning BTC price indicator bottom may still come

The Puell Multiple — and Bitcoin price — can still dip further before a rebound takes hold, cautions analyst Rekt Capital. Bitcoin (BTC) kept traders guessing with rangebound action on June 30 after a push beyond $37,000 resistance ended in rejection. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Wyckoff stresses $32,300 support Data from Cointelegraph Markets Pro and TradingView showed a day of reversal for BTC/USD on Wednesday, the pair down 4.5% hitting $34,500. After accelerating upwards the day before, Bitcoin ran out of steam at $36,630 to […]

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Beijing subway now accepts digital yuan

Beijing’s rail transit service now accepts digital yuan for subway rides through an integration with the Industrial and Commercial Bank of China. China continues expanding the scope of its central bank digital currency (CBDC) by debuting digital yuan payments for transport services. According to an official Wednesday announcement, the Beijing subway has launched a pilot program enabling passengers to access 24 subway lines and four suburban railway stations using the digital yuan, also known as e-CNY. The new service is only available for customers witb a bank […]

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‘Doctor Bitcoin’ Pleads Guilty to Running Illegal Crypto Exchange in US, Faces 5 Years in Prison

A Texas man, who calls himself “Doctor Bitcoin,” has pleaded guilty to running an illegal cryptocurrency exchange business, converting cash to bitcoin. He faces five years in federal prison. Crypto Exchange Operator Pleads Guilty The U.S. Department of Justice (DOJ) announced Tuesday that a Texas resident, Mark Alexander Hopkins, has pleaded guilty to “illegally operating a cash-to-cryptocurrency conversion business.” The 42-year-old man, who calls himself “Doctor Bitcoin,” pleaded guilty to one count of operation of an unlicensed money transmitting business. Acting U.S. Attorney Prerak Shah detailed: This […]

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Beyond Oil™ Launches Smart Contract Driven Eco-Friendly Oil Production

PRESS RELEASE. Beyond Oil™ has officially launched the Solar Oil Project – the blockchain powered decentralized oil production platform that recycles abandoned oil wells to produce oil while eliminating a trillion dollar ecological nightmare. What the Solar Oil Project does differently: Partners with local oil Operators and green equipment manufacturers. Together, they identify old oil wells that typically produce less than 5 barrels of oil per-day. These wells often become serious ecological hazards when abandoned and leak toxins into the soil and water table. Current clean-up costs […]

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Slow, but not steady: India’s stance on Bitcoin and crypto is evolving

India’s regulatory stance on crypto has been shaky at best and prejudiced at worst, but what is India actually doing about crypto? India’s reserve bank has long since condemned the use of cryptocurrencies, but other than the Supreme Court striking down its 2018 bill last year, the Indian government’s stance on cryptocurrencies has been largely uncertain.  On one hand, top sources tracking the government’s stance say it has shifted away from the idea of a complete ban. On the other hand, more banks have started barring cryptocurrency-related […]

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NYDIG set to bring Bitcoin adoption to 650 US banks and credit unions

NYDIG looks set to deliver on its promise to enable millions of Americans to buy Bitcoin from their bank accounts in 2021. New York Digital Investment Group (NYDIG) has partnered with the Atlanta-based enterprise payment behemoth NCR to enable Bitcoin (BTC) services for banks and credit unions in the United States. According to Forbes on Wednesday the deal will see 650 banks and credit unions in the U.S. able to provide Bitcoin trading services to their over 24 million customers. Apart from Bitcoin trading for its banking […]

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Russia’s central bank to study crypto investment risks

The Bank of Russia is collecting data from 15 credit firms and payment systems like Visa and Mastercard. Russia’s central bank has scheduled a risk assessment for cryptocurrencies like Bitcoin (BTC), according to the Bank of Russia’s screening program for the second half of 2021. The examination of the potential risks of cryptocurrency investing will consider “systemic risks linked to cryptocurrency investment by Russian individuals and entities.”  As part of the investigation, the Bank of Russia will collect data from 15 credit organizations including major banks like Sberbank, […]

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The Fallacy Of Taper Talk

With its stated mandate goals, the Fed is implicitly telling the market that any taper talk is complete nonsense. The below is an excerpt from a recent edition of the Deep Dive, Bitcoin Magazine‘s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. “The monetary policy goals of the Federal Reserve are to foster economic conditions that achieve both stable prices and maximum sustainable employment.”  In the Federal Reserve’s mandate, there are […]

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Ethereum Classic price has nearly doubled days after Digital Currency Group’s $50M bet

The gains also appear amid an overall crypto market recovery following Bitcoin’s sharp rebound from $30,000-support. Ethereum Classic (ETC) reached its highest level in almost three weeks Wednesday, buoyed by Barry Silbert-backed Digital Currency Group’s $50 million investment and by an overall cryptocurrency market recovery led by Bitcoin (BTC). The 17th-largest cryptocurrency by market value traded as high as $63.19 — a nearly 98% rise from its June 22 low of $31.91. Meanwhile, the market value of all the Ethereum Classic tokens in circulation crossed $7.53 billion. […]

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New Bitcoin exposure Index to track equities that perform like BTC

Melanion Bitcoin Exposure Index tracks an equities basket with the highest correlation and revenue exposure to Bitcoin. Institutional investors are looking for ways to participate in the crypto market without going out of the regulated space or mastering the advanced technology behind Bitcoin (BTC), and asset managers are finding alternative solutions to meet the need. Paris-based investment management company Melanion Capital partnered with index platform Bita to launch the Melanion Bitcoin Exposure Index, according to information shared with Cointelegraph. The index tracks a beta-weighted equities basket exhibiting […]

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