Bitcoin Price Analysis: Bitcoin Tests Boundary Support as Demand Weakens

Following last Friday’s drop, bitcoin has found itself coiled, once again, at the bottom of the range it established back in December. With the current market unable to close a new high, the market finds itself in a precarious position: Figure 1: BTC-USD, Daily Candles, Range Support Test The blue support level shown above illustrates the boundary of the multi-week range bitcoin has been bound by. At the time of this article, the market is testing the support level but has yet to close and continue below. We did see…

New BitGo Partnership Lets Clients Trade Crypto Directly From Cold Storage

American crypto wallet and custodial firm BitGo has teamed up with Genesis Global Trading, a digital asset trading firm, to improve the crypto trading experience for its institutional investors. Investors who use BitGo’s custody service can now trade their assets directly from their BitGo custody account, without the need to move the assets to an exchange. “Institutional investors want to put their assets to work and they want security,” Mike Belshe, BitGo’s CEO, told Bitcoin Magazine. “Until now, they’ve had to make compromises on one front or the other, choosing…

Bitmain Continues to Downsize Amid Management Restructuring Reports

Chinese crypto mining juggernaut Bitmain has taken a substantial hit in the recent crypto crash, leading to negative consequences for the company on many fronts. Just today, a source has confirmed with Bitcoin Magazine that the company is shutting down its offices in Amsterdam. Throughout December 2018, for example, like many companies in the crypto space, Bitmain appeared to be gearing up for a wave of layoffs. With employees taking to semi-anonymous, Chinese forums to describe their experiences, reports claimed that entire departments were completely shuttered, and about half of…

CoinShares CSO: SEC Unlikely To Approve Bitcoin ETF, Crypto Concerns Remain

Although the regulatory status of Bitcoin exchange-traded funds (ETF) remains up in the air, talk on this subject matter has picked up heading into 2019. On one hand, there are an array of optimists claiming that 2019 will be the year of cryptocurrency-backed ETFs. On the other hand, there are cynics who believe it is too earlier for the crypto market to handle such an investment vehicle. Interestingly, a number of guests onto technology entrepreneur Ran NeuNer’s recent installment of CNBC Africa’s “Crypto Trader” claimed that they don’t expect for…

Bitcoin Price Analysis: Strong Impulse Tests Macro Support Levels

Finally, after about a week or so of a tight, range-bound market, bitcoin poked right through support. This swift move dropped the price nearly 10% in the span of just a few short hours: Figure 1: BTC-USD, Hourly Candles, 11% Drop Not only did this move occur on high spread, it occured on high volume. This level of supply and overall lack of demand is nothing something you would want to see if you are feeling bullish regarding bitcoin’s market structure. Currently, we are sitting right on top of daily…

Canada’s First All-Crypto Legal Firm Opens Its Doors to Global Clientele

Technology lawyer Addison Cameron-Huff launched his new, Toronto-based, all-crypto legal firm on January 3, 2019, Bitcoin’s 10th anniversary, as a statement of his commitment to working for and promoting Bitcoin and cryptocurrency-based businesses. Cameron-Huff has worked as the lawyer for a Bitcoin core developer, several token-based companies, and dozens of crypto startups. As president of Decentral Inc., he managed a staff of 30 and helped to take the company to 750,000 monthly wallet users. As the first, all-crypto legal services firm in Canada, Cameron-Huff expects the ongoing uncertainty around Canada’s…

Bitrefill Channel-Opening Service Makes Accepting Lightning Payments Easy

Crypto payment platform Bitrefill has launched Thor, a service that allows customers to open Lightning channels on demand. Thor will connect to Bitrefill’s node on the Lightning Network, allowing users to receive Lightning payments whether they have bitcoin loaded into their Lightning wallets or not. “This service will let the customer get an empty lightning channel opened to them from Bitrefill’s node, on the Lightning Network. Now anyone can now pay for, or gift, the ability to have a channel opened to a Lightning wallet in order to receive payments…

Nick Szabo and The Winklevoss are More Bullish About Bitcoin than They Are About Gold

Nick Szabo at the Israel Bitcoin Summit Famous cryptographer, computer scientist, and crypto investor Nick Szabo once again defended the high potential of crypto coins as mechanisms of economic promotion in a recent debate in Tel Aviv, Israel. Speaking At the Israel Bitcoin Summit at Tel Aviv University on Jan. 8, Mr. Szabo explained that the use of cryptocurrencies will have a stabilizing and positive effect for countries facing economic sanctions and policies defeated by inflation, monetary devaluation, and incorrect planning decisions. Nick Szabo: Bitcoin Could be Better for Banks…

Bitcoin (BTC) Falls 5% Amid Sudden Crypto Market Meltdown

Market Drops Drastically In 2019 First On Wednesday night, The Crypto Dog, a leading Bitcoin analyst, took to his Twitter page, which sports over 100,000 followers, to draw attention to the Ethereum/USD chart, noting that something might happen soon. The chart, which accentuated ETH’s wedge formation, indicated that a breakout (either up or down) was slated to happen. whatever gonna happen I think it might gonna happen soon pic.twitter.com/NvhoThFldI — The Crypto Dog📈 (@TheCryptoDog) January 10, 2019 Just hours after his tweet, Ether, along with BTC and the rest of…

Bitcoin Wallet Forced to Drop Key Privacy Features From Google Play App

Privacy-focused bitcoin wallet Samourai is having its hand forced by Google. According to a Samourai blog post, the wallet provider is disabling privacy features that are key to its design before its latest version, 0.99.4, hits the Google Play store tomorrow. The removed features include Samourai’s Stealth Mode, remote text message (SMS) commands, and SIM Switch Defense (a measure to protect against sim swaps). The privacy restrictions only affect the version of the wallet available on Google Play. To bypass these restrictions, users can also download what Samourai calls the…