By CCN Markets: Circle CEO Jeremy Allaire has made a bold prediction. He believes that the price of bitcoin will surpass $ 10,000 by June 21, marking the beginning of what he’s dubbed “crypto summer.” He points to Facebook’s Libra launch as the catalyst for the bullish outlook. His prediction doesn’t seem far-fetched considering the price of bitcoin is marching toward $ 9,000. Facebook’s Libra to Boost Bitcoin Price Allaire believes that the launch of Facebook’s cryptocurrency, Libra, will prove to be a catalyst for the bitcoin price as it could bolster adoption. The bitcoin bull’s thesis seems justified as Facebook reportedly
By CCN Markets: The Dow and broader U.S. stock market advanced on Thursday, as investors found a silver lining in the recent string of downbeat data releases. By this time next week, markets will have a clearer picture of whether the Federal Reserve will indeed lower interest rates at its end-of-July policy meeting. Dow Rises; S&P 500, Nasdaq Follow All of Wall Street’s major indexes reported gains on Thursday. The Dow Jones Industrial Average rose by as much as 142 points before backtracking later. It was last up 67.17 points, or 0.3%, at 26,072.00. The broad S&P 500 Index of
Coinbase’s Director of Institutional Sales, Christine Sandler, said in an interview last week that, in part, the exchange acquired controversial software firm Neutrino because its prior blockchain analysis providers were selling customer data.
“The compelling reason for making the acquisition was that Neutrino had some industry leading, best in class technology. It was important for us to migrate away from our current providers. They were selling client data to outside sources and it was compelling for us to get control over that and have proprietary technology that we could leverage to keep the data safe and protect our clients,” Sandler said in an interview with Cheddar.
On Friday, as the Bitcoin price fell by around six percent against the U.S. dollar, several reports claimed that the dominant cryptocurrency dropped in value due to bomb threats. One report from Business Insider Australia, for instance, stated that following an email blast of bomb threats in New York, the price of the crypto asset
The post No, the Price of Bitcoin Didn’t Drop Because of Bomb Threats appeared first on CCN
Nvidia’s share price has fallen 48 percent since October. Now, rumors have surfaced that SoftBank plans to sell its 4.9 percent share in the leading graphics chip maker. Bloomberg reporting has cited anonymous sources who allege that SoftBank, which through its Vision Fund acquired around $ 3 billion in Nvidia shares in 2017, could sell all … Continued
The post SoftBank May Sell Nvidia Shares — But Not Because of Crypto Downturn appeared first on CCN
At its height, 99Bitcoins’ faucet was making nearly $ 2,000 a month, even after giving away coins. Then things got complicated.
The founder of Bitcoin payment startup Abra, Bill Barhydt has stated that he believes that a bitcoin ETF will be approved within a year, as long as the SEC feels sufficiently comfortable with the caliber of applicants trying to get permission. Speaking to CNBC, Barhydt stated that the SEC’s refusal to grant permission to a series
The post SEC Rejects Bitcoin ETFs Because Applicants ‘Don’t Look the Part’: Abra CEO appeared first on CCN
The world’s largest graphic card and chip maker Nvidia has officially put an end to its crypto venture, with the official announcement of its CFO Colette Kress. In a statement, Kress said: “We believe we’ve reached a normal period as we’re looking forward to essentially no cryptocurrency as we move forward. Our revenue outlook had
The post Nvidia Quits Crypto Due to Low Profit, Not Because of Decline in Demand appeared first on CCN
After moving to request all cryptocurrency exchanges to report to the country’s watchdog agency, the Australia Taxation Office (ATO) will be collecting Capital Gains Tax (CGT) on cryptocurrency gains, essentially classifying them as assets.
Cryptocurrency = Asset
Liz Russel, a senior tax agent at a private Australia online tax return service, shared some insights on the way theATO will be treating cryptocurrency gains and what people should expect. Just like in the majority of countries, there is an ongoing debate amid Australian institutions regarding the proper classification of cryptocurrencies.
However, according to the senior tax agent, the ATO has made it pretty clear that it would regard them as assets:
Self-professed ‘Satoshi Nakamoto’ Craig Wright likely had a platform at Deconomy 2018 due to Bitcoin Cash sponsoring the event.
Bitmain Listed As Deconomy ‘Supporter’
After the now-infamous confrontation between Wright and Ethereum creator Vitalik Buterin at the event, during which Buterin asked “Why is this fraud allowed to speak at this conference,” the controversy surrounding Bitcoin Cash proponents’ claims has returned to the cryptocurrency industry.
The answer to his possibly rhetorical question may yet lie in the fact that Deconomy lists pro-Bitcoin Cash mining hardware manufacturer Bitmain as one of its “supporters.”
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On today’s show:
Crypto prices dip again because Tether has finally gotten itself into trouble with US regulators and traders got spooked.
**Story – Bitcoin Price Pattern** 0:42
Charts provided by Coinigy: https://www.coinigy.com/?r=16171fe8
So let’s revisit this descending triangle we’ve been talking about.
The bottom line is that it’s still in play and I can only see room for a maximum of 7 more candles that could possible fit inside the pattern.