This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release. Investing in the financial market is like a roller coaster, and it’s no exception in the BTC market. In any aspect of investment, fear and greed are the investment psychology of speculators and the constant balance between which creates a market
Dan Morehead, the CEO of bitcoin investment firm Pantera Capital, says everyone needs to chill out about the current Crypto Winter. Morehead reminded the myopic industry that the crypto space had weathered similar bear markets before, and this one actually bodes well for the future of bitcoin and blockchain. ‘Underlying Fundamentals Are Much Stronger’ “This is actually our second Crypto Winter,” Morehead said on Laura Shin’s podcast Unconfirmed (audio below). “There was one in 2014 to 2015. In the previous one, I had more of a worry in the pit of my stomach about whether blockchain was actually going to work.
In the past 30 days, the valuation of the crypto market dropped from $ 138 billion to $ 114 billion by $ 24 billion. Yet, TRON (TRX) recovered from $ 0.0127 to $ 0.0264, by well over 107 percent. Since December 17, in about five weeks, the Tron price demonstrated a strong gain against both Bitcoin and the U.S. dollar following a series of positive announcements. Most recently, BitTorrent Token, the native cryptocurrency of the BitTorrent ecosystem, initiated a token sale on Binance Launchpad and all of the tokens sold out within minutes. Could BitTorrent Pave the Path Towards the Success of TRON On January
J.P. Morgan Chase CEO Jamie Dimon has declared that he does not mind paying higher taxes as long as they are used where they are “most effective”. His comment comes as something of a bolt from the blue in the midst of a polarizing debate on whether the highest-earning Americans should be required to pay a top marginal tax rate of 70 percent as proposed by a number of prominent House Democrats. Speaking to CNBC on Wednesday, Dimon said: I believe that individuals earning the most can afford to pay more, and I have no problem paying higher taxes to address
When Satoshi Nakamoto created bitcoin, a message in the cryptocurrency’s Genesis block made clear that it was a direct response to banking industry mismanagement and the financial and political structures that continued to enable it. Just one decade later, US President Donald Trump might tap a cautious crypto optimist to lead the World Bank. Trump Considering El-Erian for World Bank President According to Bloomberg, Mohamed El-Erian is one of several candidates that Trump has shortlisted for the job of World Bank president. The 60-year-old El-Erian currently serves as chief economic adviser at Allianz, where his views on bitcoin have
Ari Paul, the co-founder of crypto investment firm BlockTower Capital, says bitcoin adoption is at a standstill because Wall Street is taking a “wait-and-see” approach amid the bear market. In a lengthy tweetstorm, Paul says institutional viewpoints about cryptocurrencies fall into three categories: Venture capital mindset: Is there value creation we can capture with early-stage investment? Passive bitcoin or index exposure: Is this going to be digital gold or a portfolio hedge? Is this a market where we can generate profits as service providers or through active trading? Institutions Are In ‘Wait-and-See’ Mode Paul says the three viewpoints are not
The Brooklyn, New York-based news and documentary media giant, Vice Media LLC, is cutting 250 employees out of the company and closing down its flagship weekly HBO program, sources tell the Wall Street Journal. Vice is the latest major news media outlet in recent weeks to lay off hundreds of workers as part of massive downsizing to keep the companies afloat. A leaner organization is part of the company’s realignment of its entire global strategy. The 250 Vice employees comprise about 10% of the company’s workforce. HuffPo and BuzzFeed Layoffs “Difficult Changes” was the subject line of the email sent
Unit 42, the global threat intelligence team at Palo Alto Network, discovered Mac malware that can steal cookies linked to crypto exchanges and wallets. Although usernames and passwords may not be sufficient to initiate withdrawals at crypto exchanges, if hackers manage to steal a combination of login credentials, web cookies, authentication cookies, and SMS data, it could steal user funds. The researchers explained: “CookieMiner tries to navigate past the authentication process by stealing a combination of the login credentials, text messages, and web cookies. If the bad actors successfully enter the websites using the victim’s identity, they could perform fund
Crypto winter shows no signs of abating anytime soon. In the past week, bitcoin rounded out its sixth consecutive month in the red while the NEM Foundation suspended all projects and partnerships due to the sinking XEM price.
“Everybody’s poor” in oil-rich Venezuela, and US President Donald Trump’s top economic adviser claims he knows the answer: excessive taxes on the South American nation’s wealthiest citizens. With high-profile Democrats such as Rep. Alexandria Ocasio-Cortez clamoring to raise income tax rates as high as 70%, Larry Kudlow is warning that the US could see a similar “catastrophe.” Venezuela is a “Catastrophe” Because of High Tax Rate Kudlow says the “old saw” of higher taxes on the wealthy from America’s political left “never works.” The former CNBC host says he doesn’t know how such proposals will pan out, but he’s already
More than three dozen cannabis companies applied for the POT symbol on the Canadian Securities Exchange after it became available this week. Potash Corporation relinquished the symbol, and so many Canadian companies wanted it that the CSE ran a first-ever random lottery for the symbol. A small firm in Vancouver, Weekend Unlimited, won the ticker in the lottery. The company formerly had the ticker YOLO, which stands for “you only live once.” Most sites like TradingView were still showing YOLO as the company’s ticker. In the 24 hours after it officially became POT, it surged 65%. Pot Stock Almost Doubles
According to a report by Markets Insider, Nvidia generated $ 1.95 billion in revenue from its crypto business. Although the official financial statement of the company disclosed a $ 602 million crypto-related revenue, RBC analyst Mitch Steves said that the actual number is at least three times higher. “We think NVDA generated $ 1.95 billion in total revenue related to crypto/blockchain. This compares to company’s statement that it generated around $ 602 million over the same time period,” Steves said. Did Crypto Cause Nvidia to Underperform? In the third quarter of 2018, Nvidia chief financial officer Colette Kress told investors to not expect any
Bitcoin is edging closer and closer back to the critical $ 3,500 support level that some estimated it would stand on for awhile. Ethereum gained a dollar overnight. But more notably, so did Litecoin — more than a dollar, actually. Confidence in Litecoin seems to be growing after its rebranding. The stalwart altcoin, intended to be “silver to Bitcoin’s gold,” is notably seen as having a growing community and userbase. On the same note, Augur continued its growth pattern over the 24-hour period, reaching an average of more than $ 13. Bitcoin Price Edges Toward Crucial $ 3,500 Level The Bitcoin price saw
A new Ethereum token called “Wrapped Bitcoin” just launched Thursday. How Wrapped Bitcoin Works The purpose of the new cryptocurrency is to enable Bitcoin users to “participate in Ethereum smart contracts natively on the Ethereum blockchain.” Last October Bitcoin custody company BitGo announced a partnership with Kyber Network and Republic Protocol to launch Wrapped Bitcoin (WBTC), a token on the Ethereum blockchain that acts as a 1-to-1 token backed by Bitcoin reserves. In a blog post announcing the new token BitGo stated: “WBTC users will be able to utilize Bitcoin in a wide variety of new decentralized use cases, including
QuadrigaCX, the largest bitcoin exchange in Canada, has lost $ 190 million worth of crypto after it lost access to its cold storage wallets. An affidavit filed on January 31 with the Supreme Court of Nova Scotia revealed that $ 190 million in Bitcoin, Bitcoin Cash, Bitcoin Cash SV, Bitcoin Gold, Litecoin, and Ethereum were lost. How Did the Bitcoin Exchange Lose All of its Crypto Funds? The affidavit, first obtained by CoinDesk, was filed by Jennifer Robertson, the widow of QuadrigaCX founder and CEO Gerald Cotten. According to a death certificate included in the affidavit, Cotten passed away in India after
The bitcoin price on Friday posted a modest 0.9 percent surge as it corrected from its ascending channel support level and sought to climb back into bullish territory. Bitcoin Price Charges Back Toward $ 3,500 The bitcoin-to-dollar exchange rate (BTC/USD) established its intraday low at $ 3,371 right at the beginning of the Asian session. The pair consolidated until the European trading hours kicked in, after which it underwent a modest correction. The positive sentiment rippled through the US trading session, during which BTC/USD established an intraday high at $ 3,458. The upside correction appeared despite a shocker from Canada. QuadrigaCX, the region’s
Since January 3, within a one-month span, the Dow Jones Industrial Average has recovered from 22,682 points to 25,102 points, by more than 10 percent. It has been a stunning 30 days for the Dow Jones, which was at risk of entering a bear market after falling by 19 percent from its all-time high. The short-term recovery of the Dow was mainly attributed to the Federal Reserve rate, which is expected to remain stable in the range of 2.25 percent to 2.5 percent. But, another key factor may have largely affected the sentiment around the U.S. stock market throughout the
Venezuela is moving a shipment of 29 tonnes of gold, worth approximately 1 billion Euros or 1.2 billion dollars, to the United Arab Emirates for sale. UAE will pay cash Euros for the trade, which has riled US officials currently engaged in dethroning Socialist President Nicolas Maduro. 3 tonnes were already shipped on January 26th, according to a source speaking exclusively to Reuters. Euros for Liquidity After a record financial crisis in the South American country, compounded by decreased oil production, the Venezuelan government plans to use the Euros to ensure liquidity for international trading. Trading has been all the
The U.S. stock market extended its rally Friday after better than expected jobs data suggested that the impact of a partial government shutdown on the economy was largely overblown. Dow Surges Past Major Milestone All of Wall Street’s major indexes traded higher on Friday, reflecting a mostly upbeat pre-market for U.S. stock futures. The Dow Jones Industrial Average rose 166 points, or 0.7%, to 25,166.17. Shares of Exxon Mobil Corp (XOM) and Visa Inc. (V) led the Dow blue chips higher. The broad S&P 500 Index advanced 0.3% to 2,712.55, with seven of 11 primary sectors contributing to the gains.
Writing for Market Watch Tuesday, Aaron Hankin asserts that Bitcoin’s price plunge along with the NASDAQ and other equities benchmarks in Q4 2018 proves Bitcoin is more like a tech stock than digital gold as some Bitcoin proponents have characterized it. Typically when soft assets like stocks and bonds are in free fall, investors’ money flees into hard assets like precious metals for shelter from the market turbulence. That’s exactly what happened with gold in Q4 2018. As Wall Street crashed and burned, the spot price of gold was buoyed by investors looking for relief from the hemorrhaging. If Bitcoin