Shares of Sony (SNE) plunged on Monday after the company reported weaker profits in the PlayStation business and cut its annual revenue forecast. The stock fell 8.1% in Tokyo on Monday, which marks the steepest fall in more than three and a half years, and has traded sideways through Tuesday’s session. The stock is now down 30% […]
SludgeFeed
Bitcoin Price Analysis: Bitcoin Tests Boundary Support as Demand Weakens
Following last Friday’s drop, bitcoin has found itself coiled, once again, at the bottom of the range it established back in December. With the current market unable to close a new high, the market finds itself in a precarious position:
Figure 1: BTC-USD, Daily Candles, Range Support Test
The blue support level shown above illustrates the boundary of the multi-week range bitcoin has been bound by. At the time of this article, the market is testing the support level but has yet to close and continue below. We did see a temporary close below the support level, but there was a very short-lived rally on low volume shortly after popping the fresh low.
Investors Demand Refund from Hong Kong Millionaire over Crypto Mining Scam
Four Hong Kong investors have come out to demand refunds of the capital given to Wong Ching-kit, a businessman who sells Bitcoin mining equipment, after claiming that the 24-year-old crypto promoter scammed them. According to a report on the South China Morning Post (SCMP), the affected investors have suffered losses around HK$ 20,000 (roughly $ 25,000) to
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Hackers Demand Bitcoin After Taking Down Dublin’s Tram System Website
The website of Dublin’s light rail system, Luas, has gone down after it was hacked, the Irish Examiner has reported. Consequently, visitors to the website, which has been offline for more than three hours now, are being greeted with a message that the hacker(s) posted citing their demands. The unidentified hackers are demanding to be … Continued
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Indian Cryptocurrency Exchange in 45 Countries Sees Strong Demand in Venezuela
An Indian cryptocurrency exchange, which is now live in 45 countries, reports that it is “seeing immense enthusiasm and buyer activity in Venezuela,” a spokesperson for the exchange told news.Bitcoin.com. Compared to other countries, “Venezuelans are looking more at the longer-term yield of bitcoin.”
Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations
Live in 45 Countries
Indian cryptocurrency exchange Instashift is now live in 45 countries. After launching in India and Canada in February, the exchange began to roll out service in a slew of countries in November, offering support for 45 fiat currencies. A spokesperson for the exchange told news.Bitcoin.com on Thursday:
Coinbase is ‘Adding the Assets Our Customers Have Come to Demand’: Brian Armstrong
Coinbase probably had its best quarter so far, launching several products over the fourth quarter of 2018. The company which Lightspeed Venture Partner Semil Shah called ‘The Breakout Company of 2017’ recently concluded its 12 Days of Coinbase which introduced features such as instant PayPal withdrawals, Coinbase Earn which is a modified version of Earn.com (Coinbase
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Nvidia: Why Low Crypto Mining Demand Didn’t Cause Share Price Woes
Several reports over the past week have suggested that the stock price of Nvidia has dropped due to a drop in demand for crypto mining. Fool.com’s report, for instance, read: NVIDIA’s revenue growth is expected to drop into the single digits this quarter. The reason: weak demand for graphics cards. Cryptocurrency mining was a key
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Goldman Sachs Still Can’t Hold Crypto on Behalf of Clients Despite Growing Demand
Nearly three months have passed since Goldman Sachs, a $ 73 billion investment bank based in the US, said that it is not ready to facilitate the delivery of “physical Bitcoin” to its clients. The banking giant is still not able to hold cryptocurrencies on behalf of its clients, despite growing demand from clients. At a
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Goldman Sachs Downgrades Nvidia (NVDA) Amid Falling Crypto GPU Demand
The tough year for Nvidia (NVDA) continues as Goldman Sachs (GS) has now removed the company from its conviction list, saying it was “clearly wrong on the stock.” This news comes a week after disappointing Q3 earnings results that included a very weak forecast. As a result, Goldman has cut its price target from $ 283 to $ 200, which is the […]
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Bitcoin Price Analysis: Yearly Support Breaks as Bitcoin Tests Underlying Demand
After months and months of consolidation, the yearly support finally broke and now bitcoin has found itself in the lower $ 5000s for the first time since 2017:
Figure 1: BTC-USD, Daily Candles, Broken Support
Bitcoin managed to drop a staggering 16% yesterday as the market sliced through the long held support like a knife through butter. The high volume and wide candle spread does not bode well for the bulls as we are currently witnessing an excess of supply in the market. We have blown through two levels of support and haven’t seen a significant retest just yet:
Study: Demand For Crypto From Millennials Continuing to Rise Rapidly
According to a study conducted by Deidre Campbell, Global Chair of Financial Services at Edelman, reported by the New York Post, crypto still remains as a preferable long-term investment amongst millennial investors. “Anyone that has crypto tells me they wish they bought it sooner,” said Campbell, whose study revealed that more than 25 percent of
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Strong Demand: Crypto Hedge Funds are Still Raising $100 Million+
Throughout 2018, the cryptocurrency market has lost 75 percent of its valuation. Yet, crypto hedge funds are raising hundreds of millions of dollars from accredited investors and institutions. On November 1, CCN reported that Grayscale Investments, a subsidiary company of cryptocurrency venture capital behemoth Digital Currency Group, raised more than $ 330 million from both
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West Haven City Council Pays $2,000 Ransomware Demand
Ransomware attacks are still a pressing problem in 2018. Although such stories have seemingly become less apparent in the past few months, the city of West Haven in Connecticut was forced to make a crucial decision. City officials decided to pay $ 2,000 worth of Bitcoin to get rid of this malware, even though such demands should never be met in the first place.
Another Ransomware Payment Story
In the world of ransomware attacks, most victims will never pay the Bitcoin demand whatsoever. That is only normal, primarily because there is no guarantee the ransomware problem will be resolved after making the payment in question. There have been numerous types of malware which claim to be ransomware, yet turn out to be data wipers in the end.
Report: Despite Price Volatility Blockchain and Crypto Jobs Are In Demand
Glassdoor Economic Research is delivering much needed good news to the crypto community saying that despite extreme price volatility and regulatory uncertainty, the number of crypto jobs in the blockchain and cryptocurrency sector has risen by 300 percent since the same time last year.
Saying that “the professionalism of the space has accelerated,” the report notes that “continued growth in job openings suggests that blockchain employers remain confident in the market opportunity and continue to make long-term investments in their teams.”
Apple’s Chipmaker Braes For Dampening Crypto Mining Demand
Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest independent semiconductor foundry, predicted that its fourth-quarter revenue would increase by only a couple percentage points, forecasting revenues of 9.35 billion to 9.45 billion. Its 2017 fourth-quarter revenue was 9.2 billion. Weakening Crypto Demand TSMC, based in Hsinchu, Taiwan, is not only the world’s largest semiconductor foundry,
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With New Exchange Listings and Demand, New Stablecoins See Pegs Broken
Fresh on the market, the industry’s newest batch of stablecoins is having trouble striking a price balance.
Amidst news of listings on Huobi and OKEx, two of the industry’s largest exchanges, TrueUSD (TUSD), Gemini USD (GUSD), the Paxos Standard (PAX) and Circle’s USD Coin (USDC) have all risen well above their pegs. Following the fiat-collateralized model pioneered by Tether (USDT), these stablecoins are meant to retain a stable $ 1 value, keeping their peg by backing each on-chain token with a dollar in their bank accounts.
Cybercriminals Hit Port of San Diego with Ransomware, Demand Bitcoin
It has not been smooth sailing for the Port of San Diego’s IT department this week following a cybersecurity breach. In a statement, the Port of San Diego has disclosed that its computer systems were hit by a ransomware attack with the attackers demanding to be paid in bitcoin before they can decrypt files. According
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The Daily: New Crypto Bills on Capitol Hill, Russian Banks Face Demand for Cryptocurrencies
From Washington to Moscow, cryptocurrencies have entered the agenda of those who share a vocation to rule and regulate. Following the congressional summer vacation, the House of Representatives passed a bill that will enable the Treasury to investigate crypto transactions, while a Congressman plans to introduce three drafts supporting the crypto industry. Also in The Daily on Sunday, UK lawmakers push for fintech rules, Russian bankers admit strong demand for crypto services, and the Financial Action Task Force is preparing to present global crypto standards in October.
Also read: Binance Expands, Putin Advisor Visits Huobi, Brazilian Brokerage Goes Crypto
Robinhood Is Struggling to Execute Trades of Marijuana Stocks as Demand Surges
Forget cryptocurrencies. The irrational exuberance found within the marijuana sector has hit extraordinary levels. So much so that Robinhood, a leading commission-free trading app that is most popular among millennials, is reportedly struggling to keep up with the demand for marijuana stocks. On Wednesday, Robinhood was forced to suspend trading for Aurora Cannabis (ACBFF), a leading marijuana company […]
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7 Investors Back World’s First Blockchain Bond, Demand From Institutions
The Commonwealth Bank of Australia (CBA) and the World Bank launched the first blockchain bond in the global finance sector this month. Already, institutional investors are showing increasing interest. On August 10, CCN reported that World Bank selected CBA, the biggest bank in Australia, to issue the world’s first blockchain bond based on the Ethereum
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