By CCN Markets: TradingView, a widely used platform for traders and stock analysts, has a bug so severe in its retracement display that it’s losing traders “incalculable” sums of money. A bug in the way that TradingView’s Fibonacci tools work has created real problems for some traders, one of whom is vocally spreading the word. Explaining the situation in a video and crying out on Twitter, a trader called CryptoTeddyBear is raising the alarm. Of Teddy Bears and Technical Analysis Nobody in cryto twitter seems to give a shit or to understand how bad the problem is with @tradingview's broken
The former CEO of collapsed bitcoin exchange Mt. Gox has been refused a motion to stay a U.S. court case brought by former investors.
In the first edition of The Daily this weekend, we focus on a study estimating that 13 percent of people have used digital coins for payments. We also look at the latest financial report from Nvidia indicating losses due to falling demand for chips used in cryptocurrency mining. Lastly, a broker suspends its crypto CFD offering.
Report: 1 in 10 People Use Cryptocurrency for Payments
The popularity of cryptocurrency as a payment method has been increasing despite the falling price of digital assets over the past year. According to a recent study conducted by cybersecurity company Kaspersky Labs, 13 percent of those surveyed have already used crypto to make purchases.
Taiwanese chip manufacturer United Microelectronics Corporation saw a roughly 10% decrease in revenue in the fourth quarter of 2018. Like TSMC, who provide chips to Bitmain, they prominently attribute some of their losses to the downturn in demand for cryptocurrency. Less demand amounts to less need for mining, which subsequently lessens the demand for mining hardware. Co-president Jason Wang said: Looking into the first quarter of 2019, we anticipate further deceleration in customers’ wafer demand, due to a softer than expected outlook in entry-level and mid-end smartphones as well as falling crypto currency valuations. Although UMC’s ongoing transformation will need
The bitcoin price on Monday depreciated as much as 4.74 percent against the US dollar after breaking out of its two-week long consolidation period. At 20:00 UTC on Coinbase, BTC/USD was trading at $ 3,415, down 3.31 percent from today’s opening rate. The pair confirmed a downside break of its near-term bearish pennant formation. As it did, it also broke below a crucial support level at $ 3,460, which had capped a strong downside action on November 25, 2018. Bitcoin’s Technical Outlook Remains Weak Technically, the breaking of a bear pennant formation to the downside signals an extended selling action. It eventually
By CCN.com: Ford gave its fourth-quarter earnings call this afternoon. Despite a serious decline in interest in China and Europe, the company posted a 1% improvement over last year’s Q4 revenues as a whole, and a 2% gain for the whole year. The earnings call was launched as the markets closed with F seeing a
The post Ford Touts Growth in North America, Downplays Losses in China & Europe in Q4 Earnings Call appeared first on CCN
New Zealand-based altcoin exchange Cryptopia reportedly suffered a major security breach Monday that resulted in “significant losses.” In response, the exchange has gone into an indefinite maintenance mode. While little else is known beyond what was revealed in the announcement, the language indicates that the attack could sideline the exchange for an extended period of time. Cryptopia has […]
U.S. stocks pared losses Monday morning after President Donald Trump predicted the United States would soon reach a comprehensive trade deal with China. Stocks Bounce Off Lows The Dow Jones Industrial Average fell by as much as 230 points Monday morning, an extension of a volatile pre-market session for Dow futures. At the time of
The post Poised for a Comeback? Dow Jones Pares Losses after President Trump Predicts New Trade Deal with China appeared first on CCN
Losses stemming from an ongoing 51 percent attack against Ethereum Classic have now breached the million-dollar barrier, according to updated figures published by cryptocurrency exchange Coinbase. Ethereum Classic Attack Grows More Costly CCN first reported yesterday that the 18th-largest cryptocurrency appeared to have become the latest blockchain network to succumb to a 51 percent attack,
The post Ethereum Classic Losses Top $ 1 Million after 51% Attack: Coinbase Research appeared first on CCN
The US stock market posted huge losses ahead of the holiday close as investors absorbed the Federal Reserve’s interest rate hike and a bunch of other bearish economic data. White House trade advisor Peter Navarro said Friday that the trade war between the US and China would not come to an end in near-term. He
The post US Stock Market Chalks up Huge Weekly Losses, But Bitcoin & DXY Impress appeared first on CCN
Taxes have been a hot topic in the cryptocurrency world this year. Many countries have been trying to figure out how to tax crypto assets, while traders have been figuring out how to lever them to write off losses. As bitcoin and other cryptocurrencies enter the mainstream, tax reduction strategies are starting to emerge.
Over the past two months, despite the expectations of increased sales during the Christmas season, major retailers such as Target and Walmart have continued to record large losses. Since November 9, the share price of Walmart has dropped from $ 105 to $ 87, by more than 17 percent, a steep loss for the largest retailer in
The post Target, Walmart See Steep Losses, UK Retailers ‘Smashed to Pieces’ appeared first on CCN
The bitcoin price on Friday expects to close the week on another drop as it slows its upside correction following yesterday’s $ 400 plunge. The BTC/USD rate is now trading at 4283-fiat, up 4.8-percent from its intraday low. The upside action is taking place as volume drops. It means that traders are showing no support to
The post Bitcoin Price: Bearish Pennant Portends Weekend Losses appeared first on CCN
The bitcoin price on Tuesday nursed extensive losses of over 12 percent against the US dollar, stabbing through $ 5,000 as it did. BTC/USD Intraday Analysis The BTC/USD index is currently trading at the 4513-fiat price level after a minor jump from its intraday low at 4035-fiat. The knee-jerk reaction after a massive sell-off does not confirm
The post Bitcoin Price Claws Back to $ 4,500 But Further Losses May Lie Ahead appeared first on CCN
Traders have reportedly incurred losses after OKEx settled bitcoin cash futures contracts with little warning ahead of last week’s hard fork.
Coincheck reported a pre-tax loss of 588 million yen (US $ 5.3 million) for the third quarter of 2018, the Japanese exchange’s second consecutive quarterly loss since hackers pilfered $ 530 million in January. That’s an increased deficit of 130 percent from the 259 million yen ($ 2.3 million) loss the previous quarter.
A Canadian bitcoin ATM firm which was sued by a victim of fraud can finally breathe a sigh of relief after a judge ruled that the firm was not liable for the losses incurred. The victim, a woman whose name was withheld, had sued Instacoin ATM Canada to get back the C$ 62,500 she sent using
The post Bitcoin ATM Firm Not Liable for Scam Victim’s Losses: Canadian Judge appeared first on CCN
Japanese cryptocurrency exchange Zaif was the victim of a major hack last week, local media sources have reported and the company has now confirmed. The hack, which occurred on Sept. 14 but was not discovered until Sept. 17, saw the hacker steal various amounts of bitcoin, bitcoin cash, and monacoin from the exchange’s hot wallet,
The post Newsflash: Japanese Cryptocurrency Exchange Zaif Hacked, $ 59 Million in Losses appeared first on CCN
Over the past 24 hours, the crypto market has experienced a large sell off as Bitcoin demonstrated a 3 percent drop in price, leading the market to drop $ 10 billion. Ethereum and EOS recorded the largest drop amongst major cryptocurrencies at 9 percent, while Bitcoin Cash, Litecoin, Monero, Cardano, and Dash demonstrated steep 7 percent
The post Crypto Bloodbath: Bitcoin and Ethereum Record Losses in $ 10 Billion Wipeout appeared first on CCN
Many altcoins have posted significant losses in recent days, with ETH currently testing price levels not seen in over 12 months after losing 40% in roughly one week. The declining value of altcoins has also driven BTC to continue to establish new highs for market dominance during 2018.
BTC Gains Dominance
The heavy losses sustained by many leading altcoin markets have led BTC to continue to further its market dominance over other cryptocurrencies. As of this writing, BTC has a market dominance of 57.6% and is trading for roughly $ 6,300 USD.