What’s Bitcoin REALLY Worth? Much Less Than You Think – CCN Markets

New data reveals Bitcoin’s true value is way less than you probably think – but that’s not necessarily a bad thing for BTC. | Source: Shutterstock Bitcoin’s reported $172 billion market cap may be a point of pride for cryptocurrency enthusiasts everywhere, but how accurate is it as a measure of Bitcoin’s worth? Not much. In fact, new data from CoinMetrics suggests the true Bitcoin price amounts to far less than we’re led to believe. Bitcoin: ‘Market Cap’ Diverges Wildly From ‘Realized Cap’ The market cap of Bitcoin is calculated…

Bitcoin Rejected By High Timeframe Resistance, Here’s What To Possibly Expect

Bitcoin price is at risk of falling from the current trading range and is hanging by a thread at $9,600 after repeated attempts to hold above $10,000 failed. And while a rebound from here cannot be ruled out, Bitcoin price was rejected by high timeframe resistance dating back to the previous crypto market bull run, when Bitcoin reached $20,000 and eventually began to crash. 2017’s Bull Run Support Is Rejecting Bitcoin Price Almost Two Years Later After Bitcoin price met its all-time high price in late December 2017 at the…

Crypto-Jacking on the Rise According to McAfee Report

Crypto-jacking campaigns increased substantially in the first quarter of 2019 according to a McAfee Labs Threats Report published yesterday. The prevalence of ransomware attacks climbed a massive 118% during Q1, while malware attacks increased by 29% in the same period. The report also states that the attacks were indiscriminate, meaning that both Windows and Apple users were targeted. The majority of attacks on Windows users were carried out using PowerShell, which is a scripting language that allows system administrators to rapidly automate tasks and manage operating systems. One of the…

Chinese Cryptocurrency is Not Coming Anytime Soon, Says Reports

Ever since Bitcoin and other cryptocurrencies became far more mainstream following the remarkable rally in 2017, there has been a lot of talk about large institutions getting into this space. For instance, banking giant JP Morgan came up with its own digital coin last year. However, in 2019, a bigger piece of news came to the fore. It emerged that the Chinese central bank, the People’s Bank of China, was going to launch its own digital asset. It goes without saying that this is a major development in the history…

ECB Questions Stablecoin Stability Amidst Regulatory Uncertainties

Stablecoins are not immune to uncertainties. Those are the sentiments shared by the European Central Bank (ECB). According to the regulator, stablecoin stability could be hampered by the uncertainties stemming from the lack of regulations. Uncertainties The fact that regulatory pressures do affect fiat currencies is one of the tailwinds that could take a toll on the stability of stablecoins. For instance, these coins pegged on fiat currencies, such as Tether (USDT), are always subject to volatility in line with regulatory policies instituted by the FED to protect the dollar. The…

Tom Lee – CCN Markets

The Burning Man festival makes the list for the more obscure factors for a bitcoin trading lull. | Source: Flickr/wnhsl Fundstrat co-founder Tom Lee claims this week’s bitcoin price nosedived because the crypto-sphere is distracted by the Burning Man festival. Moreover, Lee predicts the Federal Reserve will raise interest rates 75 basis points by the spring of 2020. Lee, a bitcoin perma-bull, made the remarks to Fox Business News. During a segment with UBS Managing Director Jason Katz, Lee discussed bitcoin, the stock market, and Federal Reserve policy. “In a week…

Bitcoin Price (BTC) In Higher Degree Downtrend Below $10K

Bitcoin price extended its decline and traded towards the $9,300 level against the US Dollar. The price is currently correcting higher, but it is likely to struggle near $9,600 and $9,760. There is a short term breakout pattern forming with resistance near $9,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to resume its decline after a short term correction towards $9,760 or $9,800. Bitcoin price is trading in a higher degree downtrend below $10,000 against the US Dollar. BTC remains at…

Crypto Market & Bitcoin Extended Losses: BCH, EOS, TRX, ADA Analysis

The total crypto market cap extended its decline below the $240.0B support area. Bitcoin price is under a lot of pressure and it even broke the $9,500 support area. EOS price is slowly moving lower towards the $3.100 and $3.000 support levels. BCH price broke the $280 support and it seems to be moving lower towards the $270 level. Tron (TRX) price is still holding the key $0.0150 support area and is consolidating losses. Cardano (ADA) price is facing an uphill task and it may decline further to $0.0420. Bitcoin…

Ripple Price (XRP) Showing Signs of Further Weakness

Ripple price recovered recently, but it failed to break the $0.2600 resistance area against the US dollar. The price is currently moving lower and remains at a risk of more downsides below $0.2500. Yesterday’s highlighted major bearish trend line is active with resistance near $0.2580 on the hourly chart of the XRP/USD pair (data source from Kraken). The current technical structure suggests more downsides as long as the price is below $0.2620. Ripple price is gaining bearish momentum against the US Dollar and bitcoin. XRP price could trade to a…

Ethereum Price (ETH) Testing Crucial Support But Recovery Won’t Be Easy

ETH price is under a lot of pressure below the $170 and $175 resistances against the US Dollar. The price is likely to decline sharply if it settles below the $165 support area in the near term. There is a declining channel forming with resistance near $169 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent recovery if the bulls manage to push the price above the $175 resistance. Ethereum price is trading in a bearish zone versus the US Dollar and bitcoin.…