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Bitcoin Falls below $3,600 As Onslaught by Mainstream Media Continues

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Bitcoin has once again failed to sustain its price at the crucial $4,000 level, shedding close to 10 percent in just a day to fall below $3,600 level on some key markets. The currency was trading at $3,660 at press time, but on some markets such as the dominant BitMEX, the currency had dropped to $3,545. On the Japanese exchange Liquid, Bitcoin was trading at $3590, with Coinbase Pro seeing a similar trend at $3,557.

The digital currency’s woes were not made any better by its coverage on mainstream media outlets, most of which have projected the image of a dying technology that’s on its way to a silent death. Bloomberg and MarketWatch have been some of the most prominent, with several articles claiming that the end has arrived for cryptos.

Bloomberg Analyst Calls For $1,500 As Bitcoin Continues To Be Volatile

Just a day ago, Bitcoin looked very adamant and determined to fight to stay above $4,000. The currency was trading between $3,950 and $4,050 in most markets. However, it has since tumbled to trade at $3,675 at press time. In the past 24 hours, it has shed 4.3 percent.

On BitMEX, which accounts for 30 percent of the daily Bitcoin trading volume, the currency was trading at $3,545. It was also flirting dangerously close to its 14-month low of $3,522 on Coinbase Pro, Liquid, Bitstamp, Kraken and Gemini.

The entire market was on a downward spiral, with the embattled Bitcoin Cash leading the decline. The currency, which lost its fourth place to Stellar recently, shed 13.8 percent to trade at $118. Ethereum shed 8 percent to trade below $100, with Coinbase Pro and Kraken once again trading below average market value at $95.

Bitcoin SV has rediscovered its form and at press time, the currency had gained 13 percent to trade at $101. At this rate, the fork might catch up with Bitcoin Cash which is trading just $17 ahead. BSV is currently just $300 million behind BCH in market capitalization and three spots behind. BSV was the largest gainer in the top 100 cryptos, further underlining its good form.

Having lost over 80 percent of its value this year, the crypto market has continued coming under attack from mainstream media outlets. Bloomberg, which has in recent months increased its coverage of the crypto market, recently predicted that Bitcoin will sink further in the coming months. According to an in-house analyst, the currency will experience a 60 percent drop from its current price to hit $1500. The last time Bitcoin traded at $1,500 was at the beginning of May last year.

Mike McGlone, an analyst with Bloomberg Intelligence stated:

There’s little to prevent fading Bitcoin prices from reaching the continuous mean of $1,500. A rush to the exits among investors seems to be in place

McGlone’s sentiments are supported by the Directional Movement Index which indicates that Bitcoin is experiencing its worst sell-off since July. Back then, the currency had shed $3,000 in weeks to trade at $6,600 and this led a huge number of investors to panic.

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On.Live Is Pleased to Announce That ONL Token Holders Can Now Use Bitgo’s Industry-Leading Wallet and Custodial Offerings

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BitGo is the market leader in digital asset financial services providing security, compliance, custodial, liquidity solutions for institutional investors. BitGo is the world’s largest processor of on-chain bitcoin transactions, processing 15% of global Bitcoin transactions and $15 billion per month across all cryptocurrencies.

In 2018, BitGo introduced BitGo Custody and launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo Business Wallets and BitGo Custody are used by hundreds of clients around the world including the largest cryptocurrency exchanges.

Since its inception in 2013, BitGo has been focused on the institutional market and that makes working together a natural fit, as we want to extend the accessibility of ONL tokens for institutional and enterprise clients.

On.Live is a distributed live video broadcast network project, build to fill the niche in payed live and on demand services delivery in the Internet. The platform offers one of the kind, innovative, no subscription business model, beneficial for all parties involved in On.Live marketplace.

With live streaming on the rise, and lack of other comparably flexible solutions on the market, On.Live is natural choice for access and delivery of live streamed services for individuals, small and big businesses. On.Live is aiming at becoming market leader and platform of choice for everyone who realizes the huge potential in live streaming, and what profits it may bring in his own economic activities.

We believe that BitGo’s support will elevate On.Live’s business potential, contribute to growth of the platform itself and positively affect the security of ONL.

Source:nulltx

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10,000 Retail Shops in France Will Sell Bitcoin, XRP, Ethereum, Litecoin and Dash, Powered by Payments Giant Ingenico: Report

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Bitcoin, XRP, Ethereum, Litecoin and Dash are reportedly expanding to 10,000 points of sale throughout France.

Digycode first rolled out its crypto coupons last year. The startup says it’s now expanding to over 10,000 shops through a collaboration with Paris-based payments giant Ingenico, according to local news outlet Cryptonaute. The leading payments firm reported $2.8 billion in revenue in 2017.

“‘The deployment of Digycode is the result of a partnership between Digital Service and Ingenico, and tobacconists equipped with a Devlyx cash registerare, therefore eligible to sell our product for their customers, commented Christopher Villegas, CEO of Digital Service.”

The crypto startup will offer prepaid recharge coupons that can be purchased in three available increments – 20, 50, or 200 euro – by visiting any of the supported locations. Once a customer redeems the coupon on Digycode’s website by using a secret code, the euro is converted into crypto.The company says crypto balances will appear in the user’s crypto wallet as soon as the transaction is confirmed.

Tobacco shops are selling crypto despite regulatory uncertainty.

France’s tobacco federation was granted permission to sell crypto from the French Prudential Supervision and Resolution Authority, according to a report from the French radio network Europe 1.

But France’s central bank is singing a different tune, saying it has not approved retail sales of cryptocurrency. In addition, the Financial Markets Authority, which regulates the country’s stock market, has issued a statement saying no company is licensed to sell crypto in stores.

Source.dailyhodl
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Crypto-Friendly Wyoming Becomes First US State to Give Bitcoin, XRP, Ethereum, Litecoin, EOS and Altcoin Owners Complete Property Rights

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The Wyomng Senate passed SF125 on Thursday. The “Digital Assets” bill will now become law, granting cryptocurrency holders property rights for direct ownership of digital assets. Wyoming is the first state in the US to pass a clear regulatory framework for Bitcoin, XRP, Ethereum, Litecoin, EOS and other altcoins, setting the stage for cryptocurrency investors, entrepreneurs and crypto-related businesses to flourish in the state.

The bill allows people to hold cryptocurrency without the need for an intermediary to own digital assets, and clears the way for banks to offer custodial services for cryptocurrencies.

According to the act, digital assets are considered intangible personal property.

“AN ACT relating to property; classifying digital assets within existing laws; specifying that digital assets are property within the Uniform Commercial Code; authorizing security interests in digital assets; establishing an opt-in framework for banks to provide custodial services for digital asset property as directed custodians; specifying standards and procedures for custodial services under this act; clarifying the jurisdiction of Wyoming courts relating to digital assets; specifying applicability; authorizing the promulgation of rules; and providing for an effective date.”

Other forms of intangible personal property are partnership interests, life insurance contracts, securities investments and royalty agreements.

The bill is expected to come into effect on July 1. It also supports the advancement of tokenized securities.

Caitlin Long, co-founder of the Wyoming Blockchain Coalition, expects the new legislation to attract blockchain companies and talent, making Wyoming a frontrunner in the space with a clear regulatory framework designed to foster innovation and spur adoption of Bitcoin, altcoins, blockchain-based businesses, trading platforms and crypto custodial services.

Source.dailyhodl

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