BitCoin Update


Bitcoin Price Hits 5-Week High With Chart Echoing 2015 Pre-Rally Pattern

Bitcoin Price Hits 5-Week High With Chart Echoing 2015 Pre-Rally Pattern

Bitcoin jumped to a five-week high of $4,100 earlier today, reinforcing the bullish view put forward by the recent bounce from the crucial 30-day moving average support. That, coupled with the flag breakout on the 4-hour chart, indicates scope for a re-test of $4,190 (February high).The short-term bullish case would weaken if prices fail to close today above $4,055 (March 21 high).On the downside, a bearish reversal would be confirmed if and when prices find acceptance below the 30-day moving average, currently at $3,900.Additionally, bitcoin’s 200-candle moving average (MA) on the three-day chart – a lagging indicator – is flatlined for the first time since early 2015. If history is any guide, then BTC could oscillate in the recent trading range of $3,100–$4,300 in the next few months before breaking into a bull market once the 200-candle MA begins trending south.
Louis Vuitton Owner LVMH Is Launching a Blockchain to Track Luxury Goods

Louis Vuitton Owner LVMH Is Launching a Blockchain to Track Luxury Goods

Luxury brand conglomerate LVMH, owner of the iconic Louis Vuitton label, is preparing to launch a blockchain for proving the authenticity of high-priced goods, CoinDesk has learned.Code-named AURA, the cryptographic provenance platform is expected to go live in May or June with Louis Vuitton and another LVMH brand, Parfums Christian Dior. It will then be extended to LVMH ‘s other 60-plus luxury brands, and eventually those of its competitors.  LVMH has enlisted a full-time blockchain team who have been in stealth mode for over a year, working closely with ethereum design studio ConsenSys and Microsoft Azure, according to two people familiar with the project.
Majority of bitcoin trading is a hoax, new study finds

Majority of bitcoin trading is a hoax, new study finds

New research is casting even more doubt on the legitimacy of bitcoin trading.An analysis published by Bitwise this week shows that 95 percent of bitcoin spot trading is faked by unregulated exchanges. The survey, first reported by The Wall Street Journal, echoes concerns by regulators that cryptocurrency markets are still ripe for manipulation.Bitwise, an asset manager in the process of trying to list the first-ever bitcoin exchange-traded fund, said it met with the Securities and Exchange Commission on Tuesday to discuss its application. As a part of the process, it submitted analysis that could help regulators cut through the noise.
Bitcoin Nears $4,100 as Tokens Gain 20%; Industry Execs Say Crypto Bottom’s In

Bitcoin Nears $4,100 as Tokens Gain 20%; Industry Execs Say Crypto Bottom’s In

The valuation of the crypto market rose by $1.5 billion overnight as the bitcoin price closed on $4,100 and a handful of tokens recorded gains in the range of 10 percent to 25 percent.Based on the global average price of bitcoin as shown on Coinmarketcap.com, the bitcoin price has remained above the $4,000 resistance level for more than seven days.Throughout the past several months, many traders expressed their concerns over the inability of bitcoin to break out of crucial resistance levels and if the dominant cryptocurrency can continue to move past $4,000, the sentiment around the market is expected to improve.
Report Claims Bitcoin and Altcoin Correlation Slowly Fading, Could This be a Sign of a Maturing Market?

Report Claims Bitcoin and Altcoin Correlation Slowly Fading, Could This be a Sign of a Maturing Market?

The volatile price action in the crypto markets over the past year and a half has proved to investors that despite each major altcoin having (mostly) unique features and use-cases, their prices are still extremely influenced by the overall market price action, and especially that of Bitcoin.Now, a recent research report conducted and published by cryptocurrency exchange Binance gives a significant amount of insight into how correlated various cryptocurrencies are with Bitcoin, other altcoins, and the US Dollar, and highlights an interesting trend developing in the first few months of 2019 and over the past year.
Crypto Users Have Begun “Body Hacking” By Receiving Bitcoin Wallet Bio-implants

Crypto Users Have Begun “Body Hacking” By Receiving Bitcoin Wallet Bio-implants

Many crypto enthusiasts have taken the term “early adopters” to new heights as the emerging trend of micro-implants which are programmable as crypto wallets have begun to become popular within the crypto and body hacking communities.However, this phenomenon is hardly new. Body hacking as it has been aptly named dates back as far as 2014 when Martijn Wismeijer aka Mr Bitcoin received his first microchip implant.The tech trend extends beyond that of that crypto community with many users advocating the use of tech implants who also follow the so-called transhumanist movement.It’s all quite Science-Fiction right now as many people as basically interested in augmenting their bodies with tech implants, which would effectively make them cyborgs, albeit a far cry from the cyborgs we’re used to seeing in Hollywood.
Bitcoin Tycoon Who Oversaw Mt. Gox Implosion Gets Suspended Sentence

Bitcoin Tycoon Who Oversaw Mt. Gox Implosion Gets Suspended Sentence

TOKYO — A Tokyo court handed down a two-and-a-half-year prison sentence on Friday to the former head of Mt. Gox, a cryptocurrency exchange that helped establish Bitcoin as a household name before spectacularly imploding amid allegations of mismanagement.Still, Mark Karpelès, the French national who presided over Mt. Gox’s rise to become the world’s largest Bitcoin exchange, will not serve additional time if he remains on good behavior.The verdict ended a more-than-five-year ordeal for Mr. Karpelès, who was found guilty on a charge of falsifying data but innocent of two additional charges of embezzlement and breach of trust. He was arrested in August 2015 and held for almost a year in detention, where he spent months under interrogation by prosecutors who upped the pressure by adding more charges against him.
Forte and Ripple form $100 million fund for mainstream blockchain games

Forte and Ripple form $100 million fund for mainstream blockchain games

Just a couple of weeks after coming out, blockchain gaming startup Forte has announced a big deal with Ripple’s Xpring cryptocurrency platform to invest $100 million in game developers who make games based on blockchain technology.Kevin Chou, who led Kabam in mobile games and Gen.G in esports, announced in February that he had created a blockchain gaming company called Forte. Together with industry veterans such as Brett Seyler, Chou’s company is making a platform for adoption of blockchain technologies for new and existing games.
Binance’s Crypto BNB No Longer Tracks Bitcoin – And That’s a Big Deal

Binance’s Crypto BNB No Longer Tracks Bitcoin – And That’s a Big Deal

Binance Coin (BNB), the crypto asset that can be exchanged for transaction fees on the Binance exchange, is up more than 140 percent year to date and is now deviating from bitcoin’s price trend – a feat not commonly observed in the nascent crypto markets.While the reasons that most cryptocurrencies are highly correlated to bitcoin are not definitive, studies have shown this dependency on bitcoin’s trend has only grown stronger with time. Yet, BNB is proving different.
U.S. prosecutors charge leaders behind OneCoin, a multibillion-dollar crypto pyramid scheme

U.S. prosecutors charge leaders behind OneCoin, a multibillion-dollar crypto pyramid scheme

The Southern District of New York (SDNY) has charged Konstantin Ignatov, Ruja Ignatova, and Mark Scott, for wire fraud, securities fraud, and money laundering. The charges stem from the roles Ignatov, Ignatova, and Scott played in what the SDNY calls “an international pyramid scheme” which involves the marketing of cryptocurrency project OneCoin.OneCoin’s main business model is selling educational cryptocurrency trading packages to its members. Members of OneCoin receive commissions for recruiting others to purchase packages. According to the SDNY, “this multi-level marketing structure appears to have influenced rapid growth of the OneCoin member network,” with OneCoin claiming to have “more than 3 million members worldwide, including victims living and/or working within the Southern District of New York.”


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