Fundstrat: Bitcoin (BTC) Will Easily Surpass $20,000 Eventually

Fundstrat’s Lee Extremely Bullish on Bitcoin As news of Facebook’s Libra broke, every mainstream outlet began to cover it and Bitcoin (BTC) in general. So, it comes as no surprise that this morning, CNBC “Futures Now” called on Tom Lee, the head of research at Fundstrat Global Advisors, to talk cryptocurrency in his latest appearance of dozens on the segment. After discussing how Facebook’s latest venture is complementary to Bitcoin, in that BTC will continue to act as a reserve cryptocurrency, he was asked to give a price target. Staying…

IBM Announces New Multicloud Update to Blockchain

IBM has announced upgrades to its Blockchain Platform, according to a report by Ledger Insights on June 18. The new IBM Blockchain Platform will reportedly be able to run on multiple cloud networks, such as major tech corporation Microsoft’s Azure or Amazon Web Services (AWS). This is apparently the main upgrade over its previous iteration, which was available solely through IBM’s cloud. The multicloud platform will be available via Kubernetes, a container program that will reportedly allow users to scale their blockchain networks as needed. One of the main upshots…

Bitcoin Worth Over $9,200 as Top Cryptos See Growth

Friday, June 14 — Most of the top 20 cryptocurrencies are reporting moderate growth on the day by press time, as bitcoin (BTC) crossed the $9,200 mark. Market visualization courtesy of Coin360 Bitcoin is currently up over 6% on the day, trading around $9,250 at press time, according to Coin360. Looking at its weekly chart, the coin is up over 13%. Bitcoin 7-day price chart. Source: Coin360 Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at just over $29 billion. The…

Mark Karpeles Talks Mt. Gox Creditor Claims and Life After Trial

Disclaimer: The interview was edited and condensed for publication Mt. Gox crypto exchange is well remembered — but mostly for a bad reason. The year of 2011 marked the biggest heist in terms of the amount of crypto stolen, an eye-watering figure of 850,000 bitcoins (BTC), worth around $473 million at that time. Four years on and only 200,000 BTC of that were recovered. Most creditors still don’t know if or when they will ultimately get their funds back. Apparently, we may not see a conclusion any time soon, as…

Lithuania to Regulate Cryptocurrency Exchange Sector With Obligatory ID Checks

Lithuania is preparing new rules to govern cryptocurrency transactions, requiring businesses to prove the identity of clients, local daily news outlet Delfi reported on June 12. As part of its obligations to impose European Union anti-money laundering (AML) regulations, Lithuania’s finance ministry will seek to completely formalize crypto-based exchange operations. Parliament approved the move during a sitting on Wednesday, Delfi says, while a time frame remains uncertain for implementation. Once the rules come into effect, any transactions worth over €1,000 ($1,127) involving cryptocurrency — be it into or out of…

Binance to Stop Serving US Traders Following Announcement of US-Dedicated Platform

Major crypto exchange Binance announced today, June 14, that it has updated its terms of use, which notably includes a restriction of services to United States-based individual and corporate traders. The restriction follows yesterday’s news that the company is launching a separate, fully regulated fiat-to-crypto platform for the U.S. market. Today’s announcement provides a timeline for the new terms to come into effect, specifying that: “After 90 days, effective on 2019/09/12 [12th September 2019], users who are not in accordance with Binance’s Terms of Use will continue to have access…

If Bitcoin (BTC) Closes Week Above $8,800, Crypto Set for Move Even Higher

Bitcoin Rallies Hard Past $9,300 And just like that, Bitcoin (BTC) is right back above $9,000. The past 72 hours have been absolutely stellar for the crypto market, as it saw all digital assets gain notably across the board. BTC, most notably, moved from the low-$8,000s, where analysts expected heavy resistance, to $9,150 where it stands right now. With this, the bullish cries of traders all across the industry have returned, despite the fact that they were calling for a massive pullback just weeks earlier. And more importantly, some have begun to…

Fundstrat Bullish on Bitcoin, But Expects BTC Resistance at $9,000

Bitcoin Could Soon Find Resistance While the crypto industry was hit with a string of bad news, Bitcoin (BTC) has rallied hard over recent days. As of the time of writing this, the leading cryptocurrency is valued at a cool $8,800 per coin, with bulls managing to wrest BTC from the grasps of a correction, which brought the asset to $7,450 last week. While the bullish trend has obviously resumed, with Bitcoin managing to move dramatically higher (~15%) as analysts called for a drop to $7,000 and even lower, Fundstrat…

Facebook’s Crypto Will be Bad for Bitcoin (BTC)

Facebook is Bad for Bitcoin? June 18th is nearing, and that means that Facebook’s crypto asset, expected to be nothing like Bitcoin, is on the verge of becoming full public knowledge. For those who missed the memo, the next week is expected to see the Silicon Valley darling release a white paper regarding its first real foray into the blockchain ecosystem. As a result of this rapidly approaching date, industry commentators have come out of the woodwork to express their thoughts on the subject matter. In a recent tweet, Peter…

Statechains: Sending Keys, Not Coins, to Scale Bitcoin Off-Chain

Block space is limited: The Bitcoin blockchain can only process some 10 transactions per second, at most. To resolve this, Bitcoin’s technical community is developing second-layer protocols that process transactions “off-chain,” such as the Lightning Network and sidechains. Using clever cryptographic tricks, these transactions are batched to periodically settle on the Bitcoin blockchain as a single transaction. Now, a new second-layer protocol is entering the fray. Statechains, first proposed by Seoul Bitcoin Meetup organizer and Unhashed Podcast co-host Ruben Somsen, turns the concept of a Bitcoin transaction on its head.…