It’s not been a pretty year for anyone who owns Bitcoin, but the last 24 hours has been a period to forget as the cryptocurrency dropped below $100 billion in market cap for the first time in more than a year.
You have to go back to the end of October (the 29th to be precise) for the last time that the total circulation of Bitcoin in the market dropped below $100 billion.
It looks like this will be the first 24-hour period to hold that rate — so much for the relative price stability that many in the industry had complained about, be careful what you wish for!
The dip follows a decline that took Bitcoin’s price below the mark $6,000 for the first time this year — it has since plunged below $5,600. That, in turn, caused havoc in the altcoin market with valuations plummeting double-digit percentages nearly across nearly all of the top 100 valued tokens. Of the top ten, Cardano is down 14 percent, Litecoin 13 percent and Ethereum and EOS 12 percent. The changing prices also saw Ripple’s XRP token rise above Ethereum to become the second most valued cryptocurrency behind only Bitcoin.
As ever, the source of the malaise is tough to diagnose. Bitcoin Cash, which is about to undergo a hard fork, looks to be the most likely cause.
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Major British regulator, the Financial Conduct Authority (FCA), will not regulate Bitcoin (BTC) as a part of its recent guidance on crypto assets.
FCA finalizes its statement on crypto after a public consultation released in January
On July 31, the FCA issued its finalized policy statement on cryptocurrencies in a document titled “PS19/22: Guidance on Cryptoassets.” The document represents an updated version of a consultation paper on crypto assets that was first released for public comment in January 2019, and intends to bring more regulatory clarity to the existing types of digital assets.
In the document, the FCA considered major cryptocurrencies such as Bitcoin and Ether (ETH) as “exchange tokens,” describing them as types of crypto assets that are “usually decentralized and primarily used as a means of exchange.” The regulator emphasized that such digital currencies do not fall under the regulatory scope of the FCA and is outside its…
A bitcoin price indicator is about to turn bullish for the first time since the early stages of the 2016-17 bull market.
The 50-candle moving average (MA) on bitcoin’s three-day chart is in a solid upward trajectory and looks set to cross above the 200-candle MA in the next few days.
That would be the first golden crossover on the three-day chart since early February 2016. CoinDesk reported on a golden cross for bitcoin’s daily chart back in April.
Seasoned traders often refer to that long-term bull market signal as a lagging indicator. After all, the MA studies are based on historical data and tend to lag prices, which also means they have limited predictive abilities at best.
While that is true for most crossovers, the one that is about to happen on the three-day chart has proved its mettle as a reliable bull market indicator in the past.
3 day chart (2016-2017)
Garrick Hileman, head of research at Blockchain, explains what’s behind the cryptocurrency’s near-200% year-to-date rally (watch the interview above)
Dr Garrick Hileman is head of research at Blockchain and research associate at the London School of Economics
Garrick is best known for his research on monetary and distributed systems innovation, particularly cryptocurrencies and blockchain technology.
Hileman Garrick was ranked as one of the 100 most influential economists in the UK & Ireland. He is regularly invited to speak and share his research and perspective with public sector institutions, including the CIA, US Army and Naval War Colleges, Federal Reserve, Bank of England, Bank of International Settlements, and the Financial Stability Board, as well as media, including the BBC, CNBC, FT, WSJ, and NPR.
@garrickhileman welcome to City AM’s UK & Ireland economists top 100, you’re in at #34. http://t.co/E6j1yYdT9o
— City A.M. (@CityAM) July 31, 2015
The price of bitcoin has broken above $10,000 (£7,855) for the first time since March 2018, as the cryptocurrency’s remarkable surge in value continues.
Bitcoin passed the milestone after experiencing gains of more than 10 per cent over the last 24 hours.
The price jump saw the world’s largest cryptocurrency reach as high as $10,831, according to the CoinMarketCap price index, taking its overall market capitalisation close to $200 billion.
Bitcoin’s most recent run of good form began in early February, when it was trading at well below $4,000.
It had reached this price after more than a year of steady declines saw its price withdraw dramatically from its late 2017 peak of close to $20,000.
Bitcoin’s recent run has drawn comparisons from some with bitcoin’s run in 2017, with some hoping it can go beyond its previous record high.
“This really is amazing,” one crypto enthusiast wrote on Twitter. “It has 2017 written…
Paris, 30th of May 2019. French brand Satoshi Studio announces the launch of their first sneakers. The Satoshi_one is the first pair of shoes certified on the Ethereum blockchain. More high-end products will come from Satoshi Studio thanks to their innovative financing campaigns.
Satoshi Studio was founded in 2018. The Parisian brand is influenced by the Tech industry and Crypto culture. It aims to create a place for itself as a reasonably priced high-end brand. To reach that goal, it will not use traditional channels of communication, striving instead to connect directly with its young and tech-focused community.
To be able to regularly offer new products and avoid traditional seasonality, the brand will launch several crowdfunding campaigns per year. Satoshi Studio believes in responsible shopping habits: they will only produce the right amount, no more, no less. The sneakers will be offered at a reasonable price, without compromising on quality.
Authors Name
Lucas Goldlust
Company Name
Satoshi Studio
Bitcoin is ballooning to new highs… but can it last?
Compound interest might be the most powerful force in the universe, but FOMO can’t be far behind, especially as it relates to bitcoin.
We’ve seen the “fear of missing out” contribute to a nosebleed rise in the price of bitcoin BTCUSD, before, and Fundstrat’s Thomas Lee believes we’re about to see it play out again — but even more pronounced.
The outspoken bitcoin backer told clients this week the world’s top cryptocurrency could ride a wave of FOMO all the way up to $40,000 “within a few months,” thanks to better transparency and a breach of the psychological $10,000 barrier.
He pointed to Grayscale Bitcoin Trust GBTC, as a great way to partake in a rally that would be most welcomed by the crypto bulls who had to suffer through a 74% drop in the price of bitcoin last year.
“Bottom line: Crypto winter looks over,” Lee said….
 and the crypto market is once again crashing hard!){kind=link}