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Bitcoin’s Overnight Crash Doesn’t Stop Experts From Remaining Macro Bullish

The crypto market dropped off $19 billion as the price of bitcoin briefly dropped to $8,000. On May 30, overnight, the valuation of the crypto market dropped by $19 billion as the price of bitcoin (BTC) briefly dropped from $9,000 to $8,000 — a staggering 11% within a few hours on exchanges like Bitstamp. The drop of bitcoin to $8,000 was not visible on charts of market data providers like CoinMarketCap because the movement occurred in a short time frame. Bitcoin’s price immediately recovered to $8,300 following its abrupt decline, relieving some of the pressure from the rest of the crypto market and continues to rise in price as of press time. Despite the $1,000 decline in the price of bitcoin on May 30, the asset has performed strongly against the U.S. dollar throughout the past month. Ether, bitcoin cash, litecoin, XRP and other large market cap crypto assets closed that day with a 9% drop against the United States dollar, while the timely recovery of bitcoin allowed the dominant..

Hardware Wallet Doesn’t Store Private Keys to Surpass Cold Storage

sponsored The company behind a crypto hardware wallet says users can surpass cold storage — all thanks to new technology. A payments technology company has created a hardware wallet that addresses the “flawed approach” used for cold storage — and eliminates the physical storage of private keys. Instead of storing private keys on a device — a “potential security problem” — Bitfi says it has developed technology that does not store any data or private keys. Instead, the company’s hardware uses a deterministic algorithm to calculate the private key at the moment of a transaction. This means that the private key comes into existence for a fraction of a second and vanishes immediately afterward. This technology is meant to overcome the risk of total loss should a hardware wallet be lost, seized or stolen. Bitfi recommends creating a seven-word passphrase by using its Diceware method, which offers greater entropy. However, the company says that those who own its wallet have the option to ..

Russian Minister of Justice: Cryptocurrency Doesn’t Yet Need to Be Legally...

The Ministry of Justice of Russia does not see the need to legislate the concept of cryptocurrency so far, according to a recent report. The Ministry of Justice of Russia does not see the need to legally define the concept of cryptocurrency at this point, state-owned news agency TASS reported on Feb. 13. Alexander Konovalov, the Minister of Justice of Russia, reportedly claimed that it is too early to formalize crypto-related legislation to date. Konovalov based his remarks on the fact that cryptocurrencies cannot be used as a payment method in the country, according to the Russian Constitution. Both the constitution and current financial system legislation in Russia “categorically prohibit” using cryptocurrencies as a means of payment, Konovalov argued, citing article 75 of the country’s constitution. Speaking at a meeting of the Federation Council — the upper house of the Federal Assembly of Russia — the Minister noted that cryptocurrency might be considered another type of asset in..

Despite Previous Criticism, JPMorgan CEO Jamie Dimon Doesn’t Celebrate Bitcoin’s Decline

Jamie Dimon claimed that he did not intend to become a spokesperson against Bitcoin, and was not glad about its collapse in 2018. JPMorgan CEO Jamie Dimon has reiterated his negative stance on Bitcoin (BTC), stressing that he does not really care about the cryptocurrency. Dimon spoke on the subject in an interview with CNBC's Squawk Box on Jan. 23. When asked if he was pleased with Bitcoin’s collapse in 2018, Dimon stated that he was not, noting that multiple media outlets have over-reported his sceptical comments. The CEO argued that he had not intended to become the spokesperson against the biggest cryptocurrency. During the interview, when asked if Bitcoin is better than marijuana stocks, Dimon noted “that it is, but we’re not banking pot either.” In February 2018, JPMorgan had banned the purchase of cryptocurrency with their credit cards. In the recent interview, the JPMorgan CEO also repeated his support for the idea of the underlying technology behind Bitcoin: blockchain. W..

Bitcoin (BTC) May Test $3000 If It Doesn’t Break Above $4000...

Following the 2018 cryptocurrency winter, cryptocurrency prices are yet to recovery against the USD. Some analysts believe that this may be the new price range for Bitcoin and other cryptocurrencies. The most dominant members of the financial industry, whales, industry insiders, manipulators, and Wall Street investors have decided to impose a price lull for Bitcoin (BTC). The volatility of BTC has fallen by 98% long-term even if there have been short-term bouts in selling and buying. Analysts Talk About The Price Volatility Of BTC The chief executive officer of Blockforce Capital, Eric Ervin, recently said that the volatility in the price of BTC has reduced significantly long-term. In his words: “The 14-day volatility of BTC has been declining steadily over time. It is moving downward from its all-time-high of 140 to its current level 60. This is the lowest volatility BTC has reached since 2018.” Even if a drop in volatility is a sign of a maturing market, many analysts are still try..

January Doesn’t Look Good For Crypto Market – Expert Crypto Predictions...

The first month of 2019 is not going to bring the miracle cryptocurrency enthusiasts keenly expect if predictions collated by personal finance comparison site Finder.com are anything to go by. The site solicited opinions from several crypto experts concerning January price movements and that of 2019 in general. It is interesting to note that the predictions for the New Year are on the pessimistic side of previous predictions. Probably a sign of waning faith in crypto or a divorce from the 2017 success hangover which raised optimism about bitcoin and other cryptocurrencies. It was normal to see bold predictions of 50% percent growth in a matter of weeks. The crypto community will soon come to terms with the fact that the prices drop was not a mere dip but a prolonged crash that may take a while to recover. Bitcoin [BTC] Predictions Just before the end of 2018, bitcoin surged briefly from a yearly low of around $3,200 to steady between $3,700 and $3,800. The big question going into ..

Azerbaijan: Central Bank Doesn’t Plan to Issue Its Own Cryptocurrency

Central bank issued digital currencies are too “risky and dangerous,” according to the first Chairman of the Central Bank of Azerbaijan. The Central Bank of Azerbaijan (CBA) does not plan to issue a state-backed cryptocurrency because of the “great risks,” English-language Azerbaijani news outlet AzerNews reported Nov. 15. Alim Guliyev, the first Chairman at CBA, underlined that since digital currencies “come with great risks,” the CBA is not intending to launch a central bank issued digital currency (CBDC) any time soon. Guliyev, who sees such financial instruments as “risky and dangerous,” added that he believes money laundering is the prime goal of cryptocurrencies. An Israeli independent study group set up by the governor of the Bank of Israel came to a similar conclusion while exploring possibilities of issuing CBDCs, overall not recommending that the country’s central bank to issue its own token, Cointelegraph reported Nov. 7. Back this summer, the Bank of Finland released a stu..

Jamie Dimon Comments on Bitcoin Yet Again, Says He Doesn’t Give...

“I don’t give a sh*t about Bitcoin,” JPMorgan’s Jamie Dimon says, on the eve of the 10th anniversary of Nakamoto’s white paper. On the eve of the 10th anniversary of the Bitcoin (BTC) white paper, Oct. 30, JPMorgan CEO Jamie Dimon found himself speaking yet again about the leading cryptocurrency, notwithstanding his track record of attempts to extricate himself from the debate. As CNBC reported Oct. 31, Dimon made his “reluctant” comments at the Axios conference in Los Angeles on Tuesday. Referring to his now-notorious statement that Nakamoto's invention is little more than a “fraud,” the CEO told the audience: “I never changed what I said, I just regret having said it. I didn’t want to be the spokesman against Bitcoin. I don’t really give a sh*t, that’s the point. Blockchain is real, it’s technology, but Bitcoin is not the same as a fiat currency.” As previously reported, Dimon’s circuitous history with Bitcoin dates back to September 2017, when his critical rhetoric caused a sh..

Visa CEO: Crypto Doesn’t Challenge Our Hegemony in the Short to...

The CEO of Visa said that cryptocurrency does not pose a threat to the company’s “hegemony” since it is “more a commodity” than a means of payment. CEO of global payment giant Visa Al Kelly stated that cryptocurrency does not pose a challenge to the company’s dominance in the payment sphere in the “short to medium-term,” in an interview on CNBC's Mad Money Oct. 25. When asked if “crypto [is] a real challenge to Visa’s hegemony in this business,” Kelly told Mad Money host Jim Cramer that it was “certainly not in the short to medium-term in any way.” According to Kelly, crypto needs to “move from being a commodity to really being a payment instrument” before it can become a real competitor to the conventional financial system. Kelly added that the crypto market “needs to be a market” that can become “somewhat like a fiat currency” in order for Visa “to be comfortable” interacting with the asset. Following the statement, Kelly claimed that if crypto “goes in [the] direction [of fiat..

Tron’s Partnership With Baidu Doesn’t Involve Blockchain Technology 

There has been some rumors about a possible upcoming partnership between Tron (TRX) and Baidu, China’s greatest internet search provider. While the partnership hasn’t been confirmed yet, the new rumor is that this meetup isn’t going to be based on Tron’s blockchain technology. Instead, it will be based on cloud computing resources. The original original report was by CNLedger stated that Tron was entering into a basic cloud business with Baidu. Both Baidu and Tron will work together to debug blockchain products, build them, and maximize intercompatibility. TRON (TRX) Price Today – TRX / USD SEE ALSO: TRON (TRX) Founder Justin Sun Graduates From Alibaba's executive chairman Jack Ma's Hupan University - Wed Oct 17 Name Price24H (%)$6,530.52 -1.16%$0.023977 -2.74% The partnership between Tron and Baidu will be focused on Baidu’s cloud computing resources. It isn’t exactly a blockchain business connection. Also, more reports show that Baidu is making plans to independently rele..
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