Bitcoin BOMB

As Bitcoin Price Hovers Around $10,000 BTC/USD, Will a Recession Sink the Crypto Market?

🔗 https://bitcoinexchangeguide.com/as-bitcoin-price-hovers-around-10000-btc-usd-will-a-recession-sink-the-crypto-market/

‌‌Bitcoin’s 9% Drop Has Popular Crypto Traders Calling For BTC Price To Fall To $6,000

https://bitcoinexchangeguide.com/bitcoins-9-drop-has-popular-crypto-traders-calling-for-btc-price-to-fall-to-6000/

​​Bitcoin’s Price Looks Set for a Drop to $10K

Bitcoin (BTC) is looking south, having retraced more than 50 percent of the $3,000 rally seen in the 10 days to Aug. 6.

The top cryptocurrency by market cap is currently trading at $10,500 on Bitstamp, representing a 6 percent loss on the day.

At the current price, roughly 53 percent of the rally from the July 28 low of $9,111 to the Aug. 6 high of $12,325 stands erased.

BTC’s recent rally coincided with the devaluation of China’s yuan (CNY). Notably, the People’s Bank of China allowed the yuan to fall beyond 7 per U.S. dollar on Aug. 5.

On the same day, BTC rallied 7 percent and rose to a one-month high of $12,325 on the following day, triggering speculation that BTC is acting as a safe haven asset in China.

That narrative may become entrenched in the market as bitcoin’s drop seen in the last 48 hours is accompanied by a recovery in the yuan. CNY appreciated by 0.26 percent yesterday and is reporting a 0.32 percent gain against the greenback on Wednesday.

​​FATF & 15 Governments Target Personal Data of Crypto Users - Report

In the continual fight against money laundering, governments reportedly want to put a global cryptocurrency system in place by collecting personal data of crypto users.

Governments of about 15 countries seek to establish a new system of cooperation that would enable them to collect and share with each other personal information on people who transact in cryptocurrencies, Nikkei Asian Review reported today, citing no one.

The system is to be designed by the Financial Action Task Force (FATF), an international organization that consists of 37 member jurisdictions and 2 regional organizations. The plan is for the detailed measures to be drawn up by 2020, and a few years later, the system should be in operation, which would then be managed by the private sector, according to the report.

The goal of this effort is to prevent the laundering of money, which is then used for a host of illegal purposes, including funding terrorist organizations.

However, recent data showed that the proportion of bitcoin transactions tied to illicit deals is declining: illegal activity has accounted for less than 1% of all bitcoin activity so far this year — down from 7% in 2012.

In either case, among the countries that will develop the new system, Australia, Singapore, and the members of the G7 are named. Given that many countries do not have a regulatory framework for crypto, and that a number of them are working on establishing clear rules for cryptocurrencies, it is generally very difficult to establish a global set of rules or a system by which most, if not all, countries will be guided, but this effort might bring all of them closer and faster to their legal goals.

As reported, in June, the FATF agreed to implement their previous recommendations that would force governments to tighten oversight of the crypto business.

Meanwhile, just recently the Financial Conduct Authority (FCA), a financial regulatory body in the United Kingdom, issued the Final Guidance on Cryptoassets, while the G7 attendees at a summit of ministers and central bankers expressed concern about Facebook’s Libra and crypto-related matters and promised action. That is not all, as July was filled with regulatory announcements and the cryptoverse can expect a lot more to come.

🚀 Last Week Today: Bitcoin and Cryptocurrency Weekly Digest August 1st - 8th

🎯 https://bitcoinexchangeguide.com/last-week-today-bitcoin-and-cryptocurrency-weekly-digest-august-1st-8th/

Bitcoin and Cryptocurrency News Monthly Round-Up Recap: July 2019

🔗 https://bitcoinexchangeguide.com/bitcoin-and-cryptocurrency-news-monthly-round-up-recap-july-2019/

‌‌Last Week Today: Bitcoin and Cryptocurrency Weekly Digest July 17-24

🔗 https://bitcoinexchangeguide.com/last-week-today-bitcoin-and-cryptocurrency-weekly-digest-july-17-24/

​​Samsung’s Galaxy S10 Adds Wallet App from Blockchain Phone Rival Pundi X

Rival manufacturers of blockchain smartphones, Samsung and Pundi X, appear to see the benefits of working together on crypto adoption.

Announced by Pundi X in a blog post on Monday, the firms have entered a symbiotic relationship regarding their wallet tech, with Pundi X integrating with Samsung’s Blockchain Wallet and making its XWallet available to the Galaxy S10 phone’s blockchain app options.

“This presents a unique opportunity to push blockchain technology and blockchain-based digital assets into the mainstream, reaching the millions of Samsung smartphone users around the world,” firm says in the post.

Pundi X claims the news makes it the first fintech app in the S10’s blockchain ecosystem.

S10 users adding XWallet to the Samsung Blockchain Wallet will be able to move cryptocurrencies between the two apps. Pundi X suggests that users can use Samsung’s wallet to store cryptos securely, “like a savings account,” and moving them to the XWallet “checking account” for use in payments.

Pundi X added that, with XWallet recently becoming available via XPOS – the firm’s blockchain point-of-sale device – more payment options will be on offer for S10 users as a result. XWallet is also connected with XPASS, Pundi X’s NFC-enabled crypto payment card product.

The firm said:

“The XWallet’s integration with the Samsung Blockchain Wallet thus makes Pundi X payment ecosystem available to a much wider audience, allowing the Samsung Galaxy smartphone users to not only store their ETH securely but also transfer to XWallet and spend it in a variety of shops, opening their doors to the new generation and their preferred cryptocurrencies.”

Samsung launched its S10 flagship phone back in March, revealing a bold blockchain play that saw it offer the crypto wallet alongside decentralized apps (dapps), merchant payments and other features such as blockchain signing.

Details of Pundi X’s device were aired at the Mobile World Congress conference in Barcelona in February and a launch is expected later this year. The prototype XPhone is said to be able to make calls over a blockchain.

​​Bank of China’s New Infographic Shows Why Bitcoin Price is Going up

The Chinese central bank released on its website an infographic illustrating what is Bitcoin (BTC), how it works and why it’s valuable on July 26.

A brief story: from Bitcoin to Libra
The infographic illustrates the story of Bitcoin, starting with the publication of its whitepaper in 2008, the mining of the first 50 BTC in 2009, 10,000 BTC having been spent for pizza in 2010, and other major milestones for the system, ending with the announcement of Facebook’s Libra.
“Yesterday the Bank of China posted up an article about Bitcoin,” commented Blockstream CSO, Samson Mow. “They explained how BTC works, why the price is going up, and why it’s valuable. Never thought I’d see that happen. #Bullish”

The factors behind Bitcoin’s rise
Another part of the infographic is dedicated to explaining why Bitcoin’s value is increasing, and it cites limited supply, increased mining difficulty, that it is used as a medium of exchange and anti-inflation safe haven.
This is in line with the remarks recently made by Morgan Creek Digital Assets co-founder Anthony Pompliano, who said that the European Central Bank’s expected dovish turn will provide “rocket fuel” for Bitcoin.
Furthermore, the infographic does also mention the infamous Mt. Gox hack, the risk of speculation, and stories of lost funds. According to the image, Bitcoin’s main use case is international settlements since its fees are low compared to legacy system while transactions are faster.
As Cointelegraph reported yesterday, the CEO of Chinese tech giant Huawei thinks that China can compete with Facebook for market share by issuing its own digital currency.
Earlier this month, Chinese media reported that China’s central bank is developing its own digital currency in response to Facebook’s Libra as the latter could purportedly pose a risk to the country’s financial system

​​Ethereum Stays in Massive Downtrend Against Bitcoin

Ethereum was on the top of its game during the 2017’s ICO mania. Thousands of projects lined up to launch their so-called decentralized assets atop the Ethereum blockchain and raised millions of dollars. That pushed the demand for the ledger’s native token ETH, leading its spot price to as high as $1,420 per token.

But the bias flipped soon after majority of Ethereum-based blockchain startups failed or proved to be outright scams. The private assets they distributed via public crowd sales plunged massively due to no concrete backing from an astounding business model. That again had a proportional impact on ETH, whose value started plummeting in response. By December 2018, the token rate had dropped to as low as $89.90.

During its rise, Ethereum attracted a majority of its investments from investors who held bitcoin, the native cryptocurrency of the world’s leading blockchain project of the same name. By February 1, 2018, ETH had surged by more than 430 percent against bitcoin. One can say that the first decentralized cryptocurrency lost a lot of investors to its young competition.

Nevertheless, the end of ICO mania prompted investors to leave ETH for good. Many of those went back to the good-old fiat currency markets. Others, who wanted to stay again inside the world of cryptocurrencies, switched back to bitcoin or new, promising blockchain projects.

ELAD Network (ELAD) Exchange Offering

ELAD Network is a Real Estate platform that combines Blockchain, Smart Contracts and Artificial Intelligence technology to revolutionalise the way we buy, sell, exchange and invest in property all over the globe. We are working in collaboration with several government organisations to achieve this mutual goal.

We are pleased to announce that ELAD Network tokens (ELAD) have been listed on Eterbase & shortly to be listed on CBX.one, two leading digital asset exchanges.

Stage 1 (Presale) of the ELAD Network sales start on 6th August 2019 at 9:00 UTC until 6th October 2019 at 9am UTC;

0.0005 ETH per ELAD Token

Stage 2 (Main Sale) with three tiers will start from 10th October 2019 at 9:00 UTC to 20th December 2019 at 9:00 UTC;

0.0075 ETH per ELAD Token
0.00100 ETH per ELAD Token
0.00125 ETH per ELAD Token

ELAD Network is running currently running a Private sale on their Token Dashboard with a Bonus of 2000 ELAD (1 ETH) tokens for the first 20 people to perform KYC and 1000 ELAD (0.5 ETH) thereafter. ELAD tokens during the Private sale are valued at 0.0005 ETH with an allocation of 4,000,000 tokens.

ELAD Networks platform is for people buying and selling Real Estate including Traders, Property Investors and potential or current homeowners. Fractional shared ownership lowers the minimal investment required to participate in property investment allowing anyone to own a share from as little as £50.

Blockchain technology allows customers to trade their share with anyone in the world via the ELAD Network auction facility built into the platform and also creates a global payment gateway so people can buy, invest or receive payments with ease. It is now possible to buy & sell real estate in many countries without the hassle of exchanging currency.

All investment properties are managed by ELAD Network to create a hassle-free investment vehicle for their customers. All payments and returns from investments are recorded on the Blockchain and sent direct to investors on a monthly or quarterly basis.


🌐 Website — Visit Site
📑 Whitepaper — Read Whitepaper
📧 Telegram — Join Group
🕊 Twitter — View Twitter Account
🔗 LinkedIn — View Company Page
👍 Facebook — View Facebook Account
📺 Youtube Channel — Subscribe
📝 BitcoinTalk Bounty — Join Bounty Programme

​​Crypto Tidbits: “Unstoppable Force” Bitcoin Back at $10,000, Libra in Congress

Another week, another round of Crypto Tidbits. As is seemingly the norm, Bitcoin saw a tumultuous week, trading from everywhere from $9,100 to around $11,000. Per the time of writing this article, the dust has somewhat settled, with BTC around the $10,500 region for at least the past 18 hours.

Cryptocurrency prices are lower than they were earlier this month or in late-June. But this week saw its fair share of positive news — and negative news of course.

On one side, a Congressman lauded Bitcoin as an “unstoppable force”; on the other, the U.S. Treasury Secretary echoed Donald Trump’s concerns, noting that cryptocurrencies are mostly used for illicit acts, like money laundering and the sale of illegal narcotics, in an emergency press conference.

​​Bitcoin Bounce Capped by $10K Price Resistance

Bitcoin’s recovery from one-month lows looks to have stalled near $10,000 and the cryptocurrency may end up charting a bearish lower high around the psychological resistance level.

The top cryptocurrency by market value slipped to $9,049 in the European trading hours yesterday, the lowest level since June 19, according to Bitstamp data. That drop came after the bullish higher-lows pattern was invalidated with a move below $9,614 on Tuesday.

The drop was short-lived, as expected, though. Prices bounced up in the U.S. trading hours, keeping the former resistance-turned-support of the $9,097 May 30 high intact.

The recovery, however, looks to have run out of steam, and BTC has spent a better part of the last 13 hours struggling to settle above $10,000.

A persistent failure to convincingly beat $10,000 means the market is no longer viewing sub-$10,000 levels as an opportunity to get involved in the bull market the way it did on July 2, when prices charted a V-shaped recovery from $9,614 to $11,000.

Further, technical charts indicate the bounce seen in the last 24 hours lacks volume support. So, the odds appear stacked in favor of the creation of a bearish lower high at $10,000 and a fall back to $9,000 in the next day or two.

As of writing, BTC is changing hands at $9,850 on Bitstamp, representing 3.5 percent gains on the day.

‌‌Sex, Drugs And Bitcoin? The Reality Of Illegal Transactions On Bitcoin

🔗 https://bitcoinexchangeguide.com/sex-drugs-and-bitcoin-the-reality-of-illegal-transactions-on-bitcoin/

July 18, 2019 | Bitcoin Innovation

​​Bitcoin falls over 11%, tumbling below $10,000 after Libra hearing

New York (CNN Business)Bitcoin investors are concerned that lawmakers' pressure on Facebook's Libra could ripple throughout the cryptocurrency market.

The price of Bitcoin had fallen more than 11%, to around $9,590, by the end of a Senate Banking Committee hearing on Libra Tuesday morning. This is the first time in two weeks Bitcoin has dropped below $10,000.
Other cryptocurrencies fell Tuesday, as well. Ether, another major crypto, is down almost 12%, with the bulk of its drop coming during the hearing.

Bitcoin has been on a rally for several months, which many attributed to Facebook's (FB) development of a cryptocurrency lending legitimacy to the market.

​​Spain Thwarts Bitcoin ATM Scam, Prompting Regulatory Debate Worldwide

Bitcoin ATMs are not currently governed by EU money laundering regulations, and arrests coordinated by Spanish police and Europol in May are bringing new focus to this loophole. A group of eight Spanish and Latin American individuals have been arrested, along with several of their associates, for using crypto ATMs to fund drug traffickers in Columbia. While large cryptocurrency exchanges worldwide are subject to increasing oversight and regulation, bitcoin ATMs often fall in legal gray areas, prompting debate amongst regulators and crypto users alike.

​​Bitcoin And Crypto Suddenly Branded A 'National Security Issue'

Bitcoin and cryptocurrencies have been thrown into the limelight over recent months by social media giant Facebook’s plans to launch its own private cryptocurrency next year, with much of the attention negative.

U.S. president Donald Trump sent shockwaves through the bitcoin and cryptocurrency community last week when he branded bitcoin “based on thin air,” with his comments coming just after the chair of the U.S. Federal Reserve said closer regulation of cryptocurrencies was needed.

Now, U.S. Treasury secretary Steven Mnuchin has added his voice to the assault on bitcoin, Facebook’s planned Libra crypto project, and other cryptocurrencies, warning they pose a “national security” risk to the country.

“This is indeed a national security issue,” Mnuchin told reporters at a press conference yesterday. “Cryptocurrencies such as bitcoin have been exploited to support billions of dollars of illicit activity like cyber crime, tax evasion, extortion, ransomware, illicit drugs, and human trafficking,” adding that Facebook’s Libra “could be misused by money launderers and terrorist financiers.”