If You’re Selling Bitcoin Because of ETF Delay, You’re Doing it Wrong

CNBC Fast Money contributor and BKCM CEO Brian Kelly has firmly emphasized that while bitcoin has seen a massive decline in price over the last 24 hours, investors selling the dominant cryptocurrency based on the delay of SEC in approving the first bitcoin ETF are doing it wrong. Bitcoin Drops 12% While EOS, Bitcoin Cash and Other Tank 20%+ Over the last 48 hours, the crypto market lost $29 billion, as major cryptocurrencies dropped by 10 to 25 percent in value. While the vast majority of analysts have pointed towards…

IOTA Price Technical Analysis: No Room for Recovery

The IOTA token value on Wednesday tumbled by over 20% against the US Dollar. The IOT/USD pair in July had established a monthly high at 1.254-fiat. But owing to the cryptocurrency market’s poor health, the pair failed to sustain its peak and fell towards 0.881-fiat. The level proved to be a decent support and influenced IOT/USD to attempt a successful recovery. The pair, however, formed a consolidation range, never attempting a breakout above 1.254-fiat. On August 3, the IOT/USD slipped past its strong support in consequence of poor fundamentals. Reports believed…

$30 Billion Lost: 4 Stats That Show a Crypto Market in Decline

The crypto markets are seeing red in a big way Wednesday as an ongoing rout is wiping away billions of dollars in value. As reported by CoinDesk, the collective market capitalization for all crypto assets hit a new low for the year earlier today – as it stands, the overall market cap is roughly $225 billion, representing a significant decline from the more than $800 billion witnessed in early January of this year. Among the developments driving the market turmoil: the fact that the U.S. Securities and Exchange Commission (SEC) decided to…

Crypto Daily News | Microsoft Runs Ethereum Tech

In today’s edition of Crypto Daily News, we’ll cover Microsoft’s latest tech that runs on the Ethereum network and OKEx’s troubles launching its Bitcoin (BTC) futures. Crypto Daily News: August 8th, 2018 Microsoft Uses Ethereum Yesterday, the software giant Microsoft made a huge announcement debuting its latest Blockchain as a Service (BaaS) product. The product allows businesses across industry verticals to deploy a ‘flexible’ instance of Ethereum that is tailored specifically for enterprise environments. The Ethereum Proof-of-Authority on Azure, Microsoft’s product, allows enterprises to build applications on Ethereum that are…

This Crypto Scam Botnet Consists of Over 15,000 Separate Bots

Researchers at Duo Labs have discovered that Twitter is home to at least 15,000 scam bots and have published their findings in a new report. Between May and July of 2018, staff members observed, collected and analyzed nearly 90 million public Twitter accounts that had released over 500 million tweets. In addition, researchers also examined elements of each account including profile screen names, number of followers, avatars and descriptions to gather one of the largest accumulations of Twitter data ever studied. Among the report’s most interesting finds was a sophisticated…

BTCUSD Pushed Off the Cliff

The Securities and Exchange Commission (SEC) spoiled the upside gains we had made yesterday in the Bitcoin market. The regulator delayed its decision on the Bitcoin ETF proposed by the VanEck SolidX Bitcoin Trust. The Bitcoin price fell 11% soon after the news broke into the wire. To ease our pain, we joked and called it a “Wait-a-SEC” moment. Our analysis from yesterday had defined our upside targets only if the BTC/USD pair could attempt a bullish breakout. That didn’t happen. Instead, the panic sell confirmed that we should stay…

Bitcoin Price Drops to $6,180 as Market Hits 3-Week Low

The bitcoin price took another major downward pivot on Wednesday, forcing the value of the flagship cryptocurrency to a three-week low. Bitcoin spent the majority of the morning and early afternoon trading near $6,500 but proved unable to sustain that level heading into the evening. Following a thirty-minute stretch that saw BTC/USD shed close to $70, bitcoin took a $245 plunge at approximately 16:40 UTC, ultimately declining as low as $6,180 on cryptocurrency exchange Bitfinex. BTC/USD | Bitfinex Bitcoin had already entered the day firmly in the red, thanks to…

DJ Who “Turned Down Wall St.” Is On a Quest to Decentralize Music Festivals

Independent DJ Justin Blau (known on stage as 3LAU) didn’t exactly stumble into the cryptocurrency industry — to say so would misrepresent how much thought he’s put into his blockchain-based event network, Our Music Festival (OMF). But at the very least, his introduction to the space came through a touch of serendipity. Blau became formally acquainted with blockchain technology and cryptocurrencies after a chance meeting with the Winklevoss twins at a music festival in 2014. The Winklevosses were making their own debut into the industry, as they were in the…

ShapeShift Acquires Tool That Quickly Swaps Bitcoin for Other Cryptos

ShapeShift has acquired a startup that developed a tool for exchanging cryptocurrencies more efficiently. The company said Wednesday that it acquired the Texas-based Bitfract after it made the tool – allowing for the exchange of bitcoin for “dozens of digital assets in a single transaction” using the company’s API. The idea is that the tool makes it easier for crypto-buyers to switch up their portfolio without having to execute numerous transactions. “This demonstrated a great alignment of strategy and thinking, and their execution was so exceptional that we wanted to bring…

The Crypto Market Just Hit a Low for 2018

The total market capitalization for all cryptocurrencies just fell to its lowest point in 2018. The developments come after the US Securities and Exchange Commission (SEC) delayed a decision on a proposed bitcoin exchange-traded fund (ETF). The news triggered a market reaction, ultimately sending the total value of all cryptocurrencies down to $227.8 billion on Wednesday – the lowest level since November 2017 – according to data from CoinMarketCap.  The drop to nine-month lows marks a 10.7 percent depreciation on a 24-hour basis. As of press time, the market capitalization had risen back…