Blockchain 

Bitcoin an ‘Unstoppable Force,’ US Congressman Tells Crypto Hearing

Bitcoin’s (BTC) plight in Congress has seen attention focus mainly on naysayers, but this week’s hearing also saw United States politicians accept it was always beyond their control. ‘Governments cannot stop this innovation’ During testimony on July 17, U.S. Congressman Patrick McHenry, who represents North Carolina’s 10th District, told lawmakers directly that attempts to stop Bitcoin were futile. “The world that Satoshi Nakamoto, author of the Bitcoin whitepaper envisioned, and others are building, is an unstoppable force,” he said. McHenry runs in sharp contrast to other Congressmen making the headlines…

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Bitcoin 

China Ruling Bitcoin is Property Again Is ‘Major Milestone,’ Says Investor

Bitcoin (BTC) has gained legal recognition by a second Chinese court in a further boost for the cryptocurrency in one of its harshest environments. A watershed for Bitcoin in China According to investor Dovey Wan, who linked to local media coverage, the Hangzhou Internet Court formally described Bitcoin as virtual property on July 18.  The second such court to attribute property status to Bitcoin, the ruling came about as part of a dispute between a now-defunct exchange and one of its users who lost funds.  For Wan, the case marks…

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Ethereum 

1 AM UTC Is the Most Volatile Hour for Bitcoin: Research

Researchers at crypto analytics firm LongHash have found 1 AM UTC to be the hour of greatest volatility for Bitcoin (BTC) over the past two years. 1 AM UTC had more daily highs and lows than any other hour of the day over a period from 2017 to 2019, according to research released by LongHash on July 17. LongHash’s research is based on crypto price archives from major American crypto exchange and wallet service Coinbase. The Hong Kong-based firm collected data from Crypto Data Download about Coinbase prices over the…

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Ethereum 

Trump Tweets Crypto Rant — What Is the Bitcoin Reference Really About?

Over the last few years, United States President Donald Trump’s tweetstorms have become a peculiar yet amusing feature of American public life. The president’s off-the-cuff comments have served a wide variety of purposes, from enriching political discourse with the mysterious term covfefe to delivering direct threats — furnished with proper capitalization — to the leadership of the nations deemed U.S. adversaries. The most newsworthy rants almost invariably felt improvised, emotional and reactive. However, the historic series of tweets that constituted the first-ever public comment on cryptocurrencies by a sitting U.S. president didn’t…

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Ethereum 

Bitcoin ATM Firm LibertyX Expands Locations via New Partnership

LibertyX, the firm that launched America’s first Bitcoin (BTC) automated teller machine (ATM), will add 90 new machines to its network. In order to expand the network, Boston-based LibertyX has partnered with independent ATM operator DesertATM, according to a report by global ATM market publication ATMmarketplace on July 18. As a part of the partnership, DesertATM will upload LibertyX on 90 of its Genmega ATMs to enable Bitcoin operations. New Bitcoin ATM locations will include gas stations such as AMPM, ARCO & Chevron, as well as Family Dollar retail stores,…

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Blockchain 

Major Coins in the Green, Bitcoin Hovers Over $10,000

Thursday, July 18 — following Bitcoin’s (BTC) price retaking $10,000 earlier today, top-20 cryptocurrencies have seen notable gains on the day, with only UNUS SED LEO (LEO) casting a gloom on the prospects. Market visualization. Source: Coin360 BTC is up 7.63% over the last 24 hours, and is trading at around $10,549 as of press time. Having briefly dipped to as low as $9,385 during the day, BTC has rebounded and is apparently pushing to the $11,000 price point. BTC is still down over 15% in terms of its weekly…

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Bitcoin 

US Treasury Secretary Says Cash Is Not Laundered As Much As Bitcoin Is

Treasury Secretary Steven Mnuchin said that the authority will be preventing Bitcoin (BTC) from becoming an “equivalent of Swiss-numbered bank accounts.” U.S. secretary of the treasury to closely monitor Bitcoin regardless of price In a press briefing reported by CNBC on July 18, Mnuchin criticized Bitcoin and other cryptocurrencies as they can be used for illicit purposes such as money laundering, adding that the department intends to enforce strong regulations on the space. The official emphasized his own intent to closely monitor Bitcoin to prevent illegal activity regardless of its…

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Blockchain 

BTC Price Reclaims $10K After US Lawmaker Says Bitcoin Can’t Be Killed

Bitcoin (BTC) has retaken $10,000 today following a moderately volatile month, according to data provided by Coin360. Bitcoin starting its parabolic advance in April which culminated in retailing the 5-figure mark in June for the first time since March 2018. At the time, BTC was on a slow-and-steady bull run that peaked just shy of $14,000 on June 26. Since then, BTC has moved around a decent amount, dipping below $10,000 on July 2, retaking $13,000 on July 10, and slumping below $10,000 again on July 16. Some analysts linked…

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Bitcoin 

Gang of Masked Men Raid Bitcoin Embassy in Birmingham

A gang of masked men have raided a Bitcoin (BTC) embassy in the English city of Birmingham, sparking a police investigation. Local Facebook page Brumz Updates posted footage of the burglars ransacking the building as sirens blared on July 15. Witnesses look on helplessly as the robbery unfolds — and seconds later, the gang speed away from the scene in a waiting car. West Midlands Police has launched an investigation, but have confirmed that nothing of value was stolen from the business.  According to the Daily Mail, the thieves had…

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Blockchain 

Bitcoin Miners Will ‘Defend’ Price Above $6,500 Ahead of Halving: Analyst

Bitcoin (BTC) miners want to coordinate the market in order to maximize revenue as the 2020 block reward halving nears. Are miner’s controlling the market? That was the conclusion of a new Bitcoin price analysis by popular trader Filb Filb as BTC/USD neared $9,000 on July 17.  The largest cryptocurrency saw considerable downward pressure this week following a volatile period, while analysts remain at odds as to which factors are driving the market. Filb Filb, however, does not imagine Bitcoin will see new lows this year, as miners wish to…

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