Crypto Insurance Market to Get Boost in Coming Years

Around a decade ago, something called crypto insurance would have drawn puzzlement from everyone. The creation of crypto exchanges made it possible for millions of people all over the world to buy crypto tokens with ease. Key Analysis However, the creation of exchanges also drew the attention of hackers, who have, over the years, made away with billions of dollars worth of cryptocurrencies. It is something that has dogged crypto exchanges for many years, and it seems that some of the world’s biggest insurers have finally come up with a…

China’s Central Bank Digital Currency Undergoes “Restricted Access Test”

This article was originally published by 8btc and written by Vincent He. A dedicated team from the People’s Bank of China’s (PBoC) Digital Currency Research Lab is now developing the system in a closed-door environment, away from the PBoC’s downtown Beijing headquarters, according to a report from September 5, 2019. China’s central bank digital currency (CBDC) has begun a “restricted access test” to simulate payment scenarios involving “some commercial and non-governmental organizations.” The test may be the integration of each module developed for the CBDC in which the outflow and…

Bitcoin Whale Moves a Cool Billion Dollars for a Mere $700 Fee — CCN Markets

Someone just moved $1 billion in bitcoin to an unknown wallet. | Source: Shutterstock On September 6, more than $1 billion worth of bitcoin was sent from an unknown wallet. The transaction was processed within several hours with a $700 fee. A $1 billion bitcoin transaction processed with a $700 fee (source: blockchain.com) The Token Analyst team traced some of the 94,500 bitcoin to the address of Huobi Global, a major cryptocurrency exchange, but the origins of the rest of the holdings remain unclear. $1 Billion+ $BTC was transferred in…

“Ledger of Szabo” Brings Bitcoin Compatibility to Zelda-Style Game

“It’s dangerous to go alone. Here, take this.” Thus begins the latest computer game from crypto-focused gaming company Blockade Games. “Just kidding! You must start your journey with nothing!” recants a wizard-turned-demon as you attempt to collect your would-be first weapon in the game, a fork, in an abandoned cave. This is how you embark on your journey in the “The Ledger of Szabo”: with nothing and no particular direction. The game’s initial interaction — as its name and gameplay would suggest — is an overt homage to “The Legend…

Bitcoin Near $11k to Close First Positive Week in a Month

A buoyant sentiment carried into the bitcoin market this Friday as the benchmark cryptocurrency inched towards the $11,000 level. The BTC/USD instrument established a local top of $10,925 on San Francisco-based cryptocurrency exchange at 1215 UTC. The move brought the pair to its 16-day high and further promised to end the week in positive territory. Bitcoin had registered losses in the last three weeks, losing up to 19.33 percent against the US dollar. Bitcoin surged by more than 3 percent on Friday | Image credits: TradingView.com Fingers Crossed at $11,000…

Trump’s Trade War May Be Driving Chinese Investors to Bitcoin

As the Chinese yuan falls in value due to factors like the ongoing trade war with the U.S., there are signs that locals are increasingly moving funds into bitcoin. According to a Bloomberg analysis of prices over 30 days, the negative correlation between the yuan and bitcoin has fallen to a record low in the last seven days. While previously the Chinese government has sought to keep the value of its national currency above 7 CNY to the dollar, last month the yuan was allowed to slide below that level,…

Dazzling Bitcoin Price Run Sparks Forecasts for Fresh 2019 Highs

Bitcoin is looking at a fresh yearly high if support sticks, analysts have claimed. | Source: Shutterstock Since September 2, within four days, the bitcoin price has recovered from $9,500 to $10,700, rising by well over 10 percent against the U.S. dollar. The bitcoin price on a steady recovery since early September (source: coinmarketcap.com) As bitcoin stabilizes above an important resistance level at $10,000, technical analysts anticipate the asset to establish a basis for the next rally. Potential yearly high by the year’s end for bitcoin Historically, following a strong…

Bitcoin Price May Break Longest Weekly Losing Run Since November

View Bitcoin is likely to end the current week (Sunday, UTC) on a positive note, having registered losses in the previous three weeks. Prices are currently up 10 percent on a month-to-date basis. The weekly gain could be much bigger if prices invalidate a bearish lower highs pattern with a UTC close above $10,956 (Aug. 20 high). BTC may end the week on a flat note or with losses below $9,767 (Monday’s opening price) if the recent trading range of $10,400-$10,800 is breached to the downside. A range breakdown would…

Messaging Giant LINE Wins Japan License for Crypto Exchange Business

LINE, provider of Japan’s most popular messaging app, has just been approved for a cryptocurrency business license in the country. The news, reported by CoinDesk Japan on Friday, means it will be able to offer its crypto exchange services in Japan where it has 80 million monthly active users. The new platform is to be called BitBox, according to the company. The license was awarded by Japan’s Financial Services Agency, which indicated on its website that the registration was completed on Sept. 6 in the name of LVC Corp., which oversees…

Bitcoin Price (BTC) Primed For Lift-Off Above $11K

Bitcoin price is gaining momentum and it recently traded above $10,700 against the US Dollar. The price is currently testing the key $10,800 resistance area and it might correct a few points. There is a new bullish trend line forming with support near $10,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price remains well bid and it is likely to climb further above the $10,800 and $11,000 resistances. Bitcoin price is trading in an uptrend above $10,600 against the US Dollar. BTC surge once…