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As the Year of the Earth Pig has come, it is time to look back at what happened during the previous year. Happy Chinese New Year! As the Year of the Yellow Mountain Dog has drawn to a close, it is time to look back at what happened. While there was a promising start in January 2018, when most altcoins were enjoying their all-time highs, the bear eventually took over, and the market delved into the so-called “Crypto Winter.” Nevertheless, there was good news, too: The United States regulators expressed their desire to stick to “positive regulation,” while big league investors poured some funds into a number of promising, compliant crypto projects (mostly stablecoins). Here is what was happening month-by-month, along with the main takeaways. January 2018Japanese crypto exchange Coincheck was hacked, overtaking the infamous 2014 Mt.Gox collapse — an industry-record-breaking $532 million worth of NEM tokens was stolen this time. Despite the amount of damage, Coincheck has managed to stead..
The Financial Conduct Authority reported that investment scams’ losses amounted to over $255 million in 2018. The United Kingdom Financial Conduct Authority (FCA) has reported that common investment scams’ losses — including those crypto-related — amounted in total to over £197 million ($255 million) in 2018. The agency reported the losses in an official press release published on Feb. 6. According to data from the FCA call center, the most common reported scams involved unauthorized investments in shares and bonds, forex markets and cryptocurrencies. Each victim lost an average of £29,000 ($37,000), with such types of fraudulent investments accounting for a total of 4,996 reported cases and constituting 85 percent of the overall number of scam reports in 2018. In the recent warning to investors, the FCA stressed that investors should be particularly careful in making investments during the first quarter of the year, which is considered as the peak investment season before the end of ..
Cryptocurrency exchange Huobi has relaunched as a fully licensed platform in Japan after merging with BitTrade. On Jan. 17, Singapore-based cryptocurrency exchange Huobi, one of the largest players on the market, relaunched as a fully licensed platform in Japan after merging with the BitTrade exchange. Branching out to Japan, where compliance is valued and many regulatory measures are imposed for crypto players by domestic regulators, is a complex process. Here’s how Huobi entered the market, and which firms might soon follow suit. Specifics of the Japanese market and the FSA’s role in itJapan is one of the world’s largest markets for cryptocurrencies. Bitcoin (BTC) and altcoins can be used as a legally accepted means of payment there, although they are not considered “legal tender.” Being closely overseen by the national financial regulator, the Financial Services Agency (FSA), the Japanese crypto market is also one of the most compliant and regulation-oriented. Since the amendment o..
The previous year was rough for the cryptocurrency space amid regulatory uncertainty and plummetion of prices. 2018 was defined by stricter oversight by regulators of the Blockchain and crypto sectors. Private and public institutional entities helped to stabilize the crypto trend, which is something that has been difficult to undertake in previous years. However, despite the stricter regulatory processes implemented by authorities, regulations can help define the path for the cryptocurrency ecosystem now and in the future. The new year will bring good things to the space including: Bitcoin Futures Futures products for digital assets already exist by means of Bitcoin contracts provided by CBOE and CME exchanges. The development of futures contracts has likely added to the decline in prices because all the futures products are settled in cash, not in Bitcoin or another virtual currency. For example, the trade volume of derivative products doesn’t directly impact Bitcoin trade volume beca..
In the fourth quarter of 2017, many investors wanted to buy BTC and ETH specifically to invest in initial coin offering tokens. They didn’t intend to hold BTC and ETH but had to buy them to get what they wanted. Those who owned BTC and ETH, on the other hand, had no interest in selling. They were waiting for the price to rise so they would sell and make profit. There were also those who owned these cryptocurrencies because they believed in them. Why Did The Price Of Cryptocurrencies Fall? After the cryptocurrency startups completed their ICOs and became whales, they decided to unload their tokens in December and January 2018. This led to an increase in the demand for BTC and ETH which was followed by an increase in price. Unfortunately, the hangover faded and startups started exchanging their cryptocurrencies for fiat so they can pay engineers and develop their companies. This fueled the run-on-the-bank panic that brought the cryptocurrency market to where it is today. Again, regulato..
Job cuts have become a reality in the crypto industry - but they pale in comparison to the biggest corporate layoffs in history. Since Bitcoin hit its all-time high of $20,000, the dominant cryptocurrency has seen more than an 80 percent decline in value from that historic milestone over the past 12 months. The popularity of Satoshi Nakamoto’s Bitcoin pioneered the way for other projects to explore the possibilities of blockchain technology. The brightest minds pushed the boundaries, which gave birth to Ethereum, Ripple and other projects that have provided new and unique use cases for distributed ledger technology (DLT). Their success set the bar high, but that also led the way for a swathe of projects being launched which sought funding from initial coin offerings (ICO). Not unlike the dot-com bubble of the 1990s, hundreds of millions of dollars were raised by projects with half-baked ideas, and now it seems as though the hens have come home to roost. According to a report published..
This year’s ending couldn’t be more different from last year for the cryptocurrency market. This time last year, the price of cryptocurrencies were on an uptrend as they prepared to reach their all-time-highs. This year, the prices are still in the downtrend with no hope of recovery in view. In fact, the price of BTC recently fell by 10% against the USD within a 24 hour period. This took BTC as low as $3,330.28. As expected, the price of other cryptocurrencies fell along with BTC. This isn’t the December investors were expecting but this is the one everyone has to cope with. Cryptocurrency Price Analysis Yesterday, Bitcoin (BTC) was trading at $3,330.28 against the USD. This means that it was down by 10.25% against the USD. Right now, it is trading at $3,394.30. This means that it is down by 10.00% against the USD with chances of falling even lower. The trading volume over a 24 hour period is $6,229,166,905 and the market capitalization is $59,096,932,656. Bitcoin (BTC) Price Today –..
A while ago, Ripple’s Brad Garlinghouse said that XRP is going to gain its independence from Bitcoin. What exactly did he mean. Well, for as long as the cryptocurrency market has been in existence, the price of Bitcoin has had a significant impact on the prices of altcoins. As Bitcoin rises, so do these altcoins. As Bitcoin falls, they typically follow. Garlinghouse predicted that a time is coming when some strong projects like XRP will gain independence from Bitcoin. When this happens, the price of Bitcoin will no longer affect the price of the said altcoin. Well, things appear to be working in favor of XRP now. XRP (XRP) Price Today – XRP / USD Name Price24H (%)$0.477414 0.55% The current turmoil the cryptocurrency market is facing can be blamed on the Bitcoin Cash hard fork. As the war between Bitcoin SV and Bitcoin ABC intensifies, the enter cryptocurrency market suffers with BCH taking the lead. While yesterday was marked with a minor recovery, everything seems to be going sidew..
The Winklevii claim Charlie Shrem owes them 5,000 BTC. On November 2, details of a crypto lawsuit featuring major industry players: Bitcoin Foundation founder Charlie Shrem on one side, and the Winklevoss twins on the other, were made public. The case alleges that Shrem “stole” around 5,000 Bitcoin (BTC) from Tyler and Cameron Winklevoss in 2012. Brief introduction to both sides of the conflictCharlie Shrem Charlie Shrem is an American entrepreneur and renowned Bitcoin advocate. He started investing in Bitcoin in 2011, when he was a college senior. Later the same year, he co-founded the now-defunct BitInstant, one of the first crypto exchanges. The service turned out to be profitable “almost from day one,” as per an article in the Verge. Through 2011-2012, BitInstant received a couple of major investments, including a $1.5 million stake from a group of investors led by Winklevoss Capital Management. Meanwhile, Shrem became a founding board member of Bitcoin Foundation, the trade assoc..
Ever since the blockchain firm, Ripple created the XRP token, it has been working hard to promote it. Through the effort of Ripple and the XRP community as a whole, the token now ranks as the third largest cryptocurrency per market capitalization. In fact, XRP took the second position from Ethereum (ETH) twice within a given period in September. There are a lot of things going on for Ripple right now and for the XRP token. Some days ago, the XRP Tip Bot app was approved by Google Play and Apple app store. Also xRapid was also launched for commercial use and the Q3 financial report of Ripple was released. SEE ALSO: XRP’s Intrinsic Value Is $1.75 According To Neo Picolo Research The approval of Tip Bot and Coil was noteworthy because it led to a spike in the number of Ripple donations that were made in the St. Jude Children’s Research Hospital. The hospital received about 21000 XRP tokens. These donations were done through Coil and Tip Bot. Wietse Wind stated: “I thank all of you for y..
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