China Intervenes, Yuan Soars, Bitcoin Crashes

 Yuan increased by almost 1% against the dollar last night as overnight borrowing costs in Hong Kong rose to 96%, according to Reuters, surprising observers and sending bears for cover. Around the same time, after surpassing gold parity and reaching an all-time high of nearly $1,300, bitcoin flash crashed in a sell off run to $990. .. [Read Full News]

 

Bitcoin Rally Was Starting to Feel Unsustainable

 Those bars are each 8 days long. Bitcoin has not seen a red candle since  August 2016.  The resistance I spoke of earlier at $1030 (3rd arc pair) has been decimated, as has the top of the 3rd  square. The 1×3 Gann angle is current resistance, but I for one would  not bet the house that it will be enough to stop this juggernaut. .... [Read Full News]

 

Newsflash: Bitcoin Price Takes a Steep Fall Below $1000

 After months of a sustained  bullish rally, bitcoin price has swung to a significant slump, hitting a  low of $885.41 on the Bitstamp Price Index (BPI) today. The dramatic  drop comes within a day of bitcoin inching close to its all-time high. .... [Read Full News]

 

Argentine Bitcoin Wallet BitPagos Raises $1.9 Million, Rebrands as Ripio

 

BitPagos,  a bitcoin wallet and merchant processing service, recently closed a  $1.9 million Series A round to expand its services in its South America,  according to Techcrunch. The Argentina-based company also changed its name to Ripio, the name of its consumer credit service...... [Read Full News]

 

BTCC’s Bobby Lee: Bitcoin Can Reach $7,000 if it Breaks ATH $1,300

 Although the recent rise in the price of Bitcoin did not come as a surprise to the CEO of BTCC, he believes the price of the digital currency can reach up to $7,000 if it scales over its previous all-time high. In an interview with CNBC, Bobby Lee  says that people have been waiting for a time like this for quite a  while. Bitcoin’s price has been increasing steadily over the past eight  years, including the few short six years in which the currency increased  in value by more than a thousand times.   .... [Read Full News]

 

Bitcoin’s Behaviour Stresses Its Prime Use As Safe Haven

 Bitcoin’s main role is as a virtual replacement for gold, a  safe haven where you can hold your savings in a situation of political  or financial instability. Bitcoin has always been regarded as the virtual currency of  the Internet, especially by the media. A currency that will one day  become widely used within society. Statistics show year after year  that its use is increasing at a high speed. I’m not denying Bitcoin’s  evident growth in terms of adoption and use, but rather the type of use. .... [Read Full News]

 

Russian Government Considers Blockchain for Improving National Payment System

 The Federal Assembly of Russia State  Duma, the Ministry of Finance and the Federal Financial Monitoring  Service, known as Rosfinmonitoring, are set to review a proposal drafted  by the Association of Financial Innovation (AFI) regarding regulatory  improvements to the National Payment System. .... [Read Full News]