Bitcoin Whales Are Cashing in as Gains Slip Away

After a wave of aggressive buying, bitcoin whales are taking some profits. The “big money” investors drove the price up as high as nearly $14,000 in the last 24-hour period, reminding the crypto community of how the market dynamics can change on a dime. Now it seems they are cashing in on some of their fortunes as the buying momentum stops dead in its tracks. After rising as much as 22% in the last 24 hours, the BTC first slashed those gains in half. Now the gains are slipping away.…

JPM Coin | JP Morgan’s Crypto is Ready for Trials with Corporate Clients

JP Morgan is putting final touches on its much-awaited cryptocurrency JPM Coin. Bloomberg Japan reports that the financial institution is to start trials on the coin with corporate clients, as it also eyes regulatory approval for its use in the mainstream financial sector. JP Morgan Crypto JPM Coin runs on Quorum, which is a private version of the Ethereum network, developed by the bank. The coin is to function as a stablecoin where fiat cash is to be deposited in exchange for the token before one is allowed to carry…

What Disney’s Frozen Tells Us About This Mammoth Bitcoin Price Rally

 As the Great Bitcoin Price Rally of 2019 grows even more parabolic, investors and analysts alike are left scrambling for answers. What’s triggering the mammoth recovery? Will this rally end like the 2017 bubble did? Most importantly, where’s the bitcoin price headed next? According to eToro Senior Market Analyst Mati Greenspan, the answer might lie in an unlikely place: Disney’s blockbuster animated feature film “Frozen.” Crypto Analyst: Investors Need to Rewatch ‘Frozen’ Writing in daily market commentary made available to CCN, Greenspan warned that the speed of the bitcoin price’s…

Parabolic Bitcoin Price Smashes $13,000: The Money Behind Bitcoin's 'Explosive' Run

The bitcoin price roared to a new 2019 high in the early hours of Wednesday, briefly touching $13,000 on the Huobi exchange. Bitcoin is now at levels not seen since January 2018 with a market capitalization of $224.7 billion. But where is the money coming from? Data from CoinLib reveals that BTC’s latest rally is […] The post Parabolic Bitcoin Price Smashes $13,000: The Money Behind Bitcoin's 'Explosive' Run appeared first on CCN Markets Source link

Mt Gox Founder Hit With Lawsuit Over Alleged Fraudulent Misrepresentation

UPDATE: This article has been updated with comment from McCaleb Jed McCaleb, the founder of Mt. Gox, faces a lawsuit over his handling of the now-defunct bitcoin exchange. The two plaintiffs, former Mt. Gox traders Joseph Jones and Peter Steinmetz, filed a complaint with a court in California on May 19, accusing McCaleb of “fraudulent” and “negligent” misrepresentation of the exchange, which partially led to their loss of bitcoin when Mt. Gox suffered a major hack in 2014. Once the world’s largest bitcoin exchange by trading volume, Mt. Gox was…

Russia May Legalize Crypto Trading Next Week. BTC May Surge if More Traders Join In

Russia is preparing for a decisive moment in its economy: the possible legalization of crypto trading. As reported by Ethereum World News on February 27, 2019 Russian President Vladimir Putin ordered that by July 1, 2019, the country’s lawmakers should have ready a set of “Federal laws aimed at the development of the digital economy, including determining the procedure for conducting civil law transactions in electronic form, as well as regulating digital financial assets and attracting financial resources using digital technologies.“ Vladimir Putin. President of Russia According to a report by…

Bitcoin’s Share of $350 Billion Crypto Market Highest Since 2017

Bitcoin has done it again, hitting a new 2019 high above $12,000 before retracing slightly. At 21:00 UTC on June 25, the world’s largest cryptocurrency by market capitalization broke from sideways trading after being held beneath $11,400 for over 11 hours. However, perhaps most notable is the fact that bitcoin also crossed above 60 percent market dominance for the first time in over 17 months. A metric maintained by data provider CoinMarketCap, the Bitcoin Dominance Index shows bitcoin continues to gain altitude at a time when broader confidence in the…