Bitcoin 

Ethereum in Its First Big Bear Market Like Bitcoin in 2015, Analyst Says

Cryptocurrency investor and Placeholder partner Chris Burniske has argued that Ether (ETH) is enduring its first mainstream bear market, just as Bitcoin (BTC) did back in 2014-15. In a tweet posted on Aug. 20, Burniske noted that in retrospect, 2014-15 revealed itself as having been the best risk/reward period for investors to get Bitcoin exposure. He added: “To objective observers, the network’s momentum was clear despite the bearish price action; those predisposed to dislike based on perceived vested interests, were blinded by biases & missed the bus. What happened to…

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Bitcoin 

Bitcoin Price ‘Will Struggle’ in Big Financial Crisis, Says Investor

Spencer Bogart, a general partner at venture capital firm Blockchain Capital, thinks that Bitcoin (BTC) will be a safe haven in the long term. However, he has a nuanced view of how BTC price will play out with respect to various economic events. Bogart shared his views during an interview with Bloomberg on Aug. 20. According to him, risks of monetary devaluation can drive Bitcoin’s price up. Bogart commented: “I think longer term Bitcoin will absolutely be a safe haven […] I think that when you have looming risks of…

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Blockchain 

Money Managers are Paying Big Bucks to Interpret Your Bitcoin Tweets

Algorithms that can decode market sentiment are making waves in the institutional crypto landscape, a July 17 report from Reuters claims.  An Arms Race for Algorithms With the resounding return of Bitcoin’s (BTC) volatility amid an ever-hotter crypto market, hedge funds and asset managers are increasingly turning to software developers to help them interpret and harness sentiment signals to their advantage. Bin Ren — CEO of Alan Howard-owned Elwood Asset Management — told Reuters that the soaring interest in developing algorithms capable of identifying price clues from the tumultuous social…

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Blockchain 

Drafted “Keep Big Tech out of Finance” Act Surfaces Days Before Libra Hearings

A drafted bill entitled “Keep Big Tech out of Finance” has surfaced online, allegedly deriving from within the United States House of Representatives Financial Services Committee. The document’s metadata dates it July 12. The bill’s provenance is unconfirmed, but crypto news site The Block quotes an inside source as saying it is with the Financial Services Committee.  The document reads:  “A large platform utility may not establish, maintain, or operate a digital asset that is intended to be widely used as medium of exchange, unit of account, store of value,…

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Ethereum 

Billionaire Mark Cuban Says Facebook’s Libra a Big Mistake

Dallas Mavericks basketball team owner and billionaire entrepreneur Mark Cuban defined Facebook’s Libra stablecoin a big mistake in an interview with CNBC published on July 12. During his interview, Cuban commented on the social media giant’s cryptocurrency endeavors. He said: “I’m not a big fan of what they’re doing there. […] I think it’s a big mistake.” Cuban reportedly explained that he is more concerned about Libra’s global impact than the impact it will have in the United States. Per the report, he noted that “globally and in countries where…

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Bitcoin 

4 Big Reasons Bitcoin’s Price Will Probably Not Stop at $20K This Time

As bitcoin’s price keeps setting new yearly highs, the question on everyone’s mind right now is whether it’s different this time. Let’s take a closer look at why this rally is nothing like the “bubble” in 2017. Bitcoin all-time performance. Source: coin360.com As many experts pointed out, BTC going above the key psychological $10,000 mark is likely to trigger FOMO (i.e., fear of missing out), according to Fundstrat’s Tom Lee, who adds that bitcoin can now easily take out its all-time highs. Other market analysts, such as Tone Vays, however,…

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Ethereum 

Big Four Auditing Firm PwC Releases Cryptocurrency Auditing Software

Big Four auditing firm PwC announced the release of a cryptocurrency auditing software solution in a press release published on June 19. Per the release, the tool newly added to PwC’s Halo auditing suite can be used to “provide assurance services for entities engaging in cryptocurrency transactions.” The firm claims that, with the new addition, the Halo suite permits PwC to provide independent evidence of private-public key pairing (to establish crypto asset ownership), and gather information about transactions and balances from blockchains. PwC further notes that it is already employing…

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Blockchain 

Big Four Auditing Firm EY Open Sources its Ethereum Private Transaction Solution

Big four auditing firm Ernst & Young (EY) open sourced the code of its Nightfall Ethereum (ETH) private transactions solution and released it on GitHub on May 31. The readme information file featured on the GitHub repository explains the function of the software in question: “Nightfall integrates a set of smart contracts and microservices, and the ZoKrates zk-snark toolkit, to enable standard ERC-20 and ERC-721 tokens to be transacted on the Ethereum blockchain with complete privacy.” In the same file, EY claims that it decided to release its research in…

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Bitcoin 

BitPay CCO Believes Big Business Will Push Bitcoin’s Price Even Higher

A senior executive at cryptocurrency payments processor BitPay told Bloomberg on May 29 that bitcoin (BTC) will only expand higher from its current price. Speaking in an interview with Bloomberg TV, the company’s chief commercial officer, Sonny Singh, said it was business interest and endorsement of cryptocurrency that was fuelling the current market-wide bull run. “You’re starting to see that these currencies have real use cases around the world, and it’s making people really excited now because they can see the light at the end of the tunnel for these…

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Bitcoin 

Major Bitcoin Accumulation Was Underway by Big Money During Crypto Winter, Analysts Say

The number of wallets holding between 1,000 and 10,000 bitcoin (BTC) has seen a sharp increase since the crypto market bottomed this winter, indicating significant accumulation during the price dip. The analysis was published in a new report from weekly crypto outlet Diar on May 28. Diar’s analysis begins by comparing bitcoin’s distribution landscape today with data from August 2018, when the top coin was last trading in a circa $8,000 price range. The analysis focuses on so-called “Firm Size” bitcoin wallet addresses — defined as those holding between 1,000…

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