For Bitfinex Users, Dollar Withdrawals Are Now a Weeks-Long Struggle

Three weeks after being assured that everything was running smoothly, some customers of cryptocurrency exchange Bitfinex are wondering why they still can’t withdraw their money. On Oct. 15, the cryptocurrency exchange published an announcement saying, “all cryptocurrency and fiat withdrawals are, and have been, processing as usual without the slightest interference.” It continued, for emphasis, “all fiat (USD, GBP, JPY, EUR) withdrawals are processing, and have been, as usual.” This communication came on the heels of an announcement the previous week, in which the exchange responded to what it called “online…

$6 Billion Wiped Out of Crypto Market in 48 Hours: Where to Next?

Twitter Facebook LinkedIn Over the last 48 hours, since November 7, the global crypto market has lost $6 billion of its valuation as it dropped from $220 billion to $214 billion, while Bitcoin remained stable. On November 6, major cryptocurrencies including Bitcoin Cash (BCH), Ripple (XRP), Ethereum (ETH), Stellar (XLM), and Cardano (ADA) recorded large gains in the range of 5 to 30 percent, as BCH surged by around 40 percent within a two-day span. Subsequent to demonstrating a significant increase in value, most major cryptocurrencies retraced, which was expected…

Cities in China are Using Blockchain to Track Parolees

Twitter Facebook LinkedIn At least two Chinese cities are using blockchain technology to track offenders on parole, CCN has learned. In the city of Foshan, a report from May indicates that officials would like to deck their system out with bracelets similar to those issued in western countries. In the city of Zhongshan, which is in the same province as Foshan (Guangdong), the system will reportedly transcend boundaries previously in place for community corrections officials, such as when data regarding parolees was available to them. Both cities are essentially using…

Bitcoin Price Watch: BTC/USD Trading Near Major Inflection Point

Key Points Bitcoin price declined further and traded below the $6,440 support against the US Dollar. Yesterday’s highlighted key bullish trend line with support at $6,445 was breached on the hourly chart of the BTC/USD pair (data feed from Kraken). The price tested the next important support at $6,375 and later started consolidating losses. Bitcoin price failed to stay above the $6,440 support against the US Dollar. BTC/USD is currently consolidating above the $6,375 support with bearish moves. Bitcoin Price Analysis Recently, bitcoin price started a downside correction and traded…