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It’s deja vu all over again. Facebook executive David Marcus is taking the blame for Libra, saying it was him, not his boss Mark Zuckerberg, who named the new digital currency. Marcus isn’t apologizing for it, however. On the contrary, he’s insisting that the name Libra had nothing at all to do with Gemini, the […]
The post Facebook Exec Takes Fall for Libra Name, Denies Copying Winklevosses appeared first on CCN Markets
In the 1990s, the Argentine peso was pegged to the U.S. dollar. This meant that the Argentine government guaranteed that anyone could exchange one Argentine peso for one U.S. dollar. If you had 1,000 Argentine pesos in your bank account, you could walk into the bank and ask for US$ 1,000 and the teller would hand it over.
By 2001, the peg had become unsustainable and the government of Argentina abandoned it. As a result, the exchange rate went into freefall.
In the last 24 hours, the Bitcoin price has slightly recovered from $ 3,451 to $ 3,526 following the announcement of Fidelity to launch Bitcoin custody by the end of the first quarter. The valuation of the crypto market has increased by $ 2 billion overnight as Bitcoin (BTC), EOS (EOS), and Ethereum (ETH) rebounded in the range of one to three percent against the U.S. dollar. Why Bitcoin is Still Vulnerable While the recovery of Bitcoin prevented a further decline in price to the low $ 3,000 region, traders generally agree that the dominant cryptocurrency still remains vulnerable. DonAlt, a cryptocurrency technical analyst,
Apple’s fiscal Q1 revenue and profits fell, marking the first time the company had to report such dismal numbers for this particular quarter in more than 10 years. The culprits behind the declines were slowing iPhone sales and China’s economic downturn. Apple CEO Tim Cook talking about China on the company earnings call moments ago. Here's what he said: pic.twitter.com/Vt5GSABwB4 — CNBC's Fast Money (@CNBCFastMoney) January 29, 2019 The tech giant’s earnings per share and revenue did beat analyst estimates. This was despite iPhone sales coming in lower than estimates. Apple had warned investors about the expected lower sales at the
In the last 24 hours, the Bitcoin price has dropped from $ 3,505 to $ 3,322 by more than five percent against the U.S. dollar. The abrupt decline in the Bitcoin price led the valuation of the crypto market to plunge by over $ 10 billion in a three-day span. Major crypto assets such as Bitcoin Cash (BCH) and EOS (EOS) recorded large losses throughout the past week and was surpassed by Tether (USDT) in market valuation. Dropping Below $ 3,000 is a Possibility For Bitcoin Throughout the past three months, despite recording intense sell-offs at times, Bitcoin has defended the $ 3,000 support level
By CCN.com: Wall Street firm JP Morgan has predicted that HODLers should expect to experience more pain if the crypto winter persists. According to JPMorgan analysts, the price of bitcoin could fall to as low as $ 1,260, Reuters reports. The same analysts have, however, estimated that bitcoin’s ‘cost support’ is at around the $ 2,400 level. … Continued
The post Bitcoin Could Fall Below $ 1,260 if the Bear Market Continues: JP Morgan Analysts appeared first on CCN
By CCN.com: Popular streaming service Netflix made headlines – and undoubtedly left some customers up in arms – after a round of price hikes that represented the company’s largest since its streaming service launch. Is Netflix’s Rate Hike Coming Back to Bite the Streaming Giant? As CCN reported, Netflix raised subscription fees by between 13-18%. The
The post Was the Netflix Price Hike a Mistake? Shares Fall as Hulu Slashes Rates appeared first on CCN
With the bitcoin price continuing to hover around $ 3,500 following last week’s sell-off, technical analysts have begun fevered debates about whether the flagship cryptocurrency will see more losses ahead. Crypto brokerage firm BitOoda believes that a further decline is likely but maintains that this will strengthen — not weaken — bitcoin over the long term. Does
The post Why the Bitcoin Price Could Fall to $ 2,400 & Entice Wall Street to Buy the Dip appeared first on CCN
New trade data from China is fuelling fears of global recession. Stock markets in Asia and Europe fell in reaction. A premarket drop for Dow futures points to a tough day for the US stock markets. Europe’s leading 300 share index, the FTSEurofirst 300 Index (FTEU3), fell 0.7% in early trading. Asia saw declines with the
The post Blue Monday? Trade Figures from China Shake the US Stock Markets, Dow Futures Fall appeared first on CCN
Bitcoin fell below $ 3,500 as $ 5 billion was wiped out of the crypto market, and major digital assets like Ethereum recorded a six percent drop against the U.S. dollar. The 4.8 percent drop in the combined valuation of all cryptocurrencies in the global market comes after a strong sell-off on January 11. Bitcoin Weakness Expected
The post Crypto Market Begins to Fall Rapidly Again: Bitcoin Below $ 3,500 appeared first on CCN
Activision Blizzard shares dropped nearly 10% on Friday after the leading video game publisher announced a split with “Destiny” creator Bungie. The “Call of Duty” and “World of Warcraft” publisher has handed back publishing rights for first-person shooter game “Destiny” to Bungie. The split has been filed with the Securities and Exchange Commission. Bungie will
The post Call of Duty Publisher Activision’s Shares Fall on Destiny Departure appeared first on CCN
The price of gold futures broke the $ 1,300 per ounce threshold for the first time since June 2018. Investors are likely moving positions to the gold markets, pushed away from stocks after recent dips. The crypto market capitalization, or the total amount invested in bitcoin and other cryptocurrencies, is also holding nicely, showing that cryptocurrency
The post In Gold [and Bitcoin?] We Trust: Precious Metals Surge as Stocks Fall appeared first on CCN
Throughout the past three days, the Bitcoin price has demonstrated wild volatility in the range between $ 3,200 to $ 3,600. The dominant cryptocurrency has struggled to break out of the $ 3,700 resistance level which several technical analysts have consistently mentioned over the last two weeks. On December 12, the price of Bitcoin (BTC) fell by around
The post Crypto Market Drops Again: Does Bitcoin Price Risk Fall to $ 2,500? appeared first on CCN
The latest statistics on initial coin offerings suggest that the best days of the fundraising mechanism may have long passed. According to digital assets newsletter Diar, the month of November recorded the lowest inflows into initial coin offerings (ICOs) in 2018. With US$ 65 million raised last month, this was in sharp contrast to this year’s
The post ICO Death March? November Inflows Fall to $ 65M From Yearly High of $ 2.6 Billion appeared first on CCN
The market valuation of ERC20 tokens and low volume crypto have started to fall below the $ 100 million mark amidst an intense market sell-off and increasing regulatory pressure from the U.S. Securities and Exchange Commission (SEC). VeChain, Bytecoin, Bitcoin Diamond, ICON, and Qtum have fallen the most against the U.S. dollar in the past 12
The post Market Cap of Crypto Tokens Fall Under $ 100M, Struggling to be Relevant appeared first on CCN
On the back of a grueling quarter, the bitcoin price could still see tougher times ahead. One analyst over at Bloomberg sees the flagship cryptocurrency possibly heading toward $ 1,500. Indeed, bitcoin had a dismal November, as part of a difficult year overall for the crypto market, though the past few days have seen slightly more
The post Bitcoin Price Will Likely Fall to $ 1,500: Bloomberg Analyst appeared first on CCN
The Asia-Pacific Head of Trading at foreign exchange brokerage Oanda has predicted that bitcoin price will fall as low as $ 2,500, claiming the behavior of the asset over the past few months has not demonstrated to investors that a bottom is in. Speaking on Bloomberg Markets: Asia, Stephen Innes stated that despite the pronouncements of “soothsayers”, the … Continued
The post Asian Chief of FX Trading Firm Predicts Bitcoin Price Fall to $ 2500 appeared first on CCN
It was an ugly week in the cryptocurrency market, with most digital currencies shedding more than 10% to close out the week. While it looks like Bitcoin (BTC) has found temporary support around the $ 5,400-$ 5,600 range, some analysts think that there is more pain ahead. According to Bloomberg Intelligence, Bloomberg’s research arm on the Bloomberg Terminal, these analysts believe Bitcoin […]
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After recording one of the worst sell-offs in all of 2018, the crypto market has experienced a minor corrective rally, adding $ 8 billion to its valuation. The Bitcoin (BTC) price is approaching a resistance level at $ 5,600, a minor resistance level BTC will have to surpass to potentially eye a rally to $ 5,800 and potentially
The post Crypto Market Recovers, But Could Bitcoin Price Fall to $ 4,800? appeared first on CCN
What a difference a few months can make. It seems like a lifetime ago that Arthur Hayes, CEO of cryptocurrency derivatives platform BitMEX, predicted that the bitcoin price could reach $ 50,000 in 2018. In fact, it has been less than six months, though the events that have occurred during that interlude have been sufficient for
The post Bitcoin Price: BitMEX CEO Doubles Down on Bear Call, Says BTC Could Fall to $ 2,000 appeared first on CCN
