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Bitcoin Mining Could be China’s Next Target – Why It Does Not Matter

September J, 2017

Bitcoin Mining Could be China’s Next Target – Why It Does Not Matter Several sources including the Wall Street Journal have reported that the Chinese government and its regulators may target bitcoin mining operators in the region following the imposition of a nationwide ban on cryptocurrency and bitcoin exchanges. Experts in the cryptocurrency sector and mining industry including John McAfee strongly believe that the Chinese government will not order a crackdown on bitcoin mining centers and operators. As Cryptocoinsnews…

Bitcoin Price Technical Analysis for 19th September â Can Bulls Keep It Up

September J, 2017

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Bitcoin Price Technical Analysis for 09/19/2017 – Can Bulls Keep It Up Bitcoin price seems to have completed a large correction and is ready to resume its long-term uptrend. Bitcoin Price Key Highlights Bitcoin price has bounced off a long-term area of interest after its recent sharp drop, signaling that the uptrend could still resume. Applying the Fib extension tool on this major correction could indicate how high bulls could take bitcoin from here. Technical indicators on the daily…

Bitcoin Price Technical Analysis for 09/18/2017 â Chance to Short?

September J, 2017

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Bitcoin Price Technical Analysis for 09/18/2017 – Chance to Short? Bitcoin price is making a correction from its recent selloff, but it might be ready to resume the drop soon. Bitcoin Price Key Highlights Bitcoin price has been selling off in the past few days on reports that China has officially confirmed it would be shutting down exchanges. A bearish channel can be seen on the 1-hour time frame and it’s currently showing a pullback opportunity. Price is stalling at…

$11 Billion – 24-Hour Cryptocurrency Trading Volume Hits New Record

September J, 2017

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$11 Billion – 24-Hour Cryptocurrency Trading Volume Hits New Record Cryptocurrency trading volume reached a new milestone on Friday, crossing $11 billion for the first time amid regulatory uncertainty in China. Crypto Markets Post Record Volume According to data obtained from CoinMarketCap, the combined 24-hour trading volume of all cryptocurrencies rose to $11.5 billion shortly after 16:00 UTC. The only other time daily trading volume has surpassed $10 billion was on August 19, when it briefly spiked to $10.5 billion…

Bitcoin Price Analysis – A perfect storm

September J, 2017

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Bitcoin Price Analysis – A perfect storm Bitcoin has dropped ~USD$400 in the past 24 hours, contributing to a ~USD$1450 drop in the past seven days. The leading cryptocurrency is down ~US$1150 Since the recent high of ~US$4950 on Sept 2nd, or nearly 30%. The lackluster performance can be attributed to both technical and fundamental factors. On September 4th, China announced an outright ban of all ICOs, suggested refunding any collected funds in any ongoing crowd sales, and hinted at…

Bankers’ mistrust of bitcoin is still the greatest argument for it

September J, 2017

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Bankers’ mistrust of bitcoin is still the greatest argument for it Earlier on Tuesday, at different conferences around New York, JPMorgan Chase chief executive Jamie Dimon took aim at bitcoin, calling the cryptocurrency “a fraud” and “worse than tulip bulbs.” This skepticism by one of Wall Street’s titans, and its reflection in many offices and hallways in top financial services companies, is perhaps one of the strongest cases for bitcoin’s lasting importance. Let’s be clear, Dimon’s firm is one of…

Bitcoin Finds Bottom at $4,000 as Price Awaits Post-China Breakou

September J, 2017

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Bitcoin Finds Bottom at $4,000 as Price Awaits Post-China Breakout The bitcoin-US dollar exchange rate (BTC/USD) may have climbed back above $4,000, but it might be ready to push higher even though China uncertainty reigns supreme. Following reports the country's regulators may be seeking to shut down domestic bitcoin exchanges, the bitcoin price fell to a low of $3,977 on the CoinDesk Bitcoin Price Index (BPI) this weekend. The rumor comes a week after the People's Bank of China (PBOC)…

China Is Said to Ban Bitcoin Exchanges While Allowing OTC Trades

September J, 2017

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China Is Said to Ban Bitcoin Exchanges While Allowing OTC Trades Order comes amid a broader clampdown on financial risk China is home to nearly a quarter of world’s bitcoin trades China plans to ban trading of bitcoin and other virtual currencies on domestic exchanges, dealing another blow to the $150 billion cryptocurrency market after the country outlawed initial coin offerings last week. The ban will only apply to trading of cryptocurrencies on exchanges, according to people familiar with the…

Bitcoin Price Sinks Below $4,200 on China Uncertainty

September J, 2017

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Bitcoin Price Sinks Below $4,200 on China Uncertainty Markets for bitcoin and other cryptocurrencies have fallen over the course of the day, following contested reports that regulators in China are looking to shut down the country's exchange ecosystem. CoinDesk's Bitcoin Price Index (BPI) is currently at about $4,184, representing a nearly 10 percent decline since the start of the day's trading. Markets peaked today at $4,698.73, per the BPI, though prices began to tumble around 13:20 UTC. Additional data from…

Bitcoin Breakout – Price Action Analysis Hints at Possible Pullback

September J, 2017

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Bitcoin Breakout – Price Action Analysis Hints at Possible Pullback The bitcoin price [BTC to US dollar exchange rate] fell to a two-week low of $3,900 on Tuesday, a market movement that represented the biggest decline for the asset since July. Triggered by the sudden news from China that the country’s financial regulators would ban initial coin offerings, the decline has also called into question just how big the appetite is for a higher bitcoin price given its 700% year-over-year…