With bitcoin prices dropping further early on Sunday, the cryptocurrency now looks to be heading for its worst weekly loss in over 5 years.
CoinDesk
Bitcoin Price May Report Yearly Loss on Its 10th Birthday
With bitcoin trading sideways around $ 6,400 for the 10th day, the cryptocurrency faces reporting a yearly loss for its 10th birthday on Wednesday.
CoinDesk
Lack of Transparency to Blame for Tether’s Loss of USD Peg: Novogratz
Five days since losing its U.S. dollar peg, fiat-backed cryptocurrency tether (USDT) continues to trade at a discount to its supposed $ 1.00 valuation. Defenders have largely chalked up the markdown to FUD, arguing that supporters of other “stablecoins” are launching a coordinated assault on tether, which has long dominated this market niche. However, billionaire investor
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Massive Loss For Bitcoin, Will The Price Hold?
Today has been a bleak day for Bitcoin. The price looked like it was holding steady at the $ 6,500 mark but now it has dropped 5% which has dragged everything else down with it, including Ethereum, XRP, Cardano, Stellar and more.
In only 30 minutes, $ 13 billion disappeared. According to CoinMarketCap, data shows that the sudden slide for Bitcoin / USD took the pair down over $ 400 in just a half an hour window which seemed to start at around 11 pm on October 10th.
Bitcoin Scam Results In A €31 Million Loss
One of the leading countries in the world, famous for the finest wines and cheeses, home of the Eiffel Tower, la France, has been in the news recently but not for the right reasons. The country hasn’t made a stance on where it’s at with cryptocurrency but some of its citizens have been victims of a recent Bitcoin scam according to a recent news report.
Around 700 citizens of France have fallen victim to a recent Bitcoin scam which has resulted in a loss of around €31 million.
Continue reading Bitcoin Scam Results In A €31 Million Loss at Crypto Daily™.
Another Loss For XRP In The Markets
With the crypto markets being inactive for the past few days, it’s no surprise that they hit back with the old rinse and repeat cycle which has become all too common recently. This has left Stellar, Etherum and XRP are miss with the markets heading into a slump.
The latest ‘sell-off’ has resulted in the markets falling back to a total capitalisation of $ 215 billion and remaining in their sideways channel.
After a 2% drop, Bitcoin is worth $ 6,480 at the time of writing.
Continue reading Another Loss For XRP In The Markets at Crypto Daily™.
Ripple Drops 2% Loss Despite Major XRP Announcement, Bitcoin Shows Low Volume
Since late September, the low volume of Bitcoin has been an issue for the cryptocurrency exchange market. Although BTC was expected to break out of major resistance levels at $ 6,800 and $ 7,000, its low volume prevented it from recording a major movement on the upside. Earlier today, on October 2, Ripple Labs introduced three partnerships … Continued
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Steve Hanke: Central Banks Fuel Wealth Loss and Inflation – The World Needs Less of Them
Respected economist Professor Steve Hanke has chanted down central banks. While Hanke doesn’t tout cryptocurrency as an alternative, he does say that the world needs fewer central banks because these government-controlled entities are messing up economies and abusing monetary policy, while fueling inflation and loss of wealth.
Also read: Ex-Liberia Central Bank Chief Under Probe For Missing $ 104M, State Seeks FBI Help
Central Banks Have Crashed Economies Through Reckless Money Printing
Central banks have come under fire for aiding struggling economies to crash through reckless money creation, thereby fueling inflation. Prominent economist and currency expert Steve Hanke, who played a key role in establishing new currency in Argentina, Estonia, Bulgaria and Ecuador, says the world needs fewer state banks to prevent economic and cash crises.
Okex Socializes Loss From Over $400 Million Bet Among BTC Futures Traders
Anyone getting involved with leveraged trading must assume upon themselves the risks associated with the potentially highly rewarding practice. A recent event should remind traders that, sometimes, even when the trade goes your way, you can still take a hit. Okex socialized one trader’s massive loss on BTC futures with a clawback.
Also Read: The Weekly: China Hires Cryptographer, McDonald’s Unveils Maccoin, Bitmain Gets Richer
Forced Liquidation
Okex, the Chinese-run cryptocurrency exchange based in Hong Kong, has announced on Friday that “an enormous long position” in BTC0928 futures contract was force-liquidated on July 31, 2018. And due to the sheer size of the order, worth over $ 400 million, the uncovered loss (about $ 9 million) will need to be socialized with a clawback.
Ethereum Price: USD Uptrend is Negated by BTC Ratio Loss
Yesterday was a very interesting day for all cryptocurrency markets. Bitcoin and altcoins gained a lot of value in quick succession. As is always the case, maintaining this form of momentum will be pretty challenging. For the Ethereum price, maintaining the $ 500 value level is very challenging, as there is a genuine battle going on between bulls and bears.
Ethereum Price Struggles for Stability
Short-term changes in the cryptocurrency world always pose a new set of problems. Albeit all cryptocurrency markets enjoy a positive spell right now, it seems highly unlikely that trend can be sustained for very long No strong gain will go unpunished, especially in this particular industry. For Ethereum price speculators, the bearish pressure is already intensifying as of right now.