Bitcoin News Summary – March 4, 2019

Here’s what happened this week in Bitcoin in 99 seconds.  A critical bug was exposed for the Coinomi desktop wallet. The bug states that if you’ve imported a seed phrase into the wallet, that seed was actually sent to Google for spelling check. A seed phrase should NEVER leave the wallet and this issue may put Coinomi desktop users at risk. Bitfinex announced that the US government has returned 27.6 bitcoins which were part of the nearly 120,000 bitcoins stolen from the exchange in August of 2016. The action…

Bitcoin Miners Capitulated in Dec 2018 and it Could Signal the End of Bear Market

The biggest discussion point around Bitcoin currently, is whether or not the first-ever cryptocurrency has bottomed or not, and if the bear market will soon be ending or if a lot more pain is ahead for crypto investors. While many crypto traders and analysts are feverishly reviewing price charts and other important indicators searching for a sign, one particular analyst suggests looking at Bitcoin mining difficulty levels and potential capitulation by crypto miners as the signal the bear market has ended. Bear Market Grand Finale: Break of $6K Caused Miners…

Ripple (XRP) Underperforming In a High-Octane Market, is it Undervalued?

Ripple price in an uptrend, trading below 34 cents Regulatory clarity will clear the air catalyzing adoption Average transaction volumes are high, doubles in last month Even though Ripple related news is scarce, increasing participation levels point to an accumulation. To that end, we expect today’s double bar bull reversal pattern off 30 cents to act as a base for further higher highs in coming days. Ripple Price Analysis Fundamentals Progress is visible. They may be baby steps, but still, it is a step in the right direction. Of the…

Bitcoin (BTC) Prices Responding as Billionaires like Jack Accumulate

Bitcoin price up 3.6 percent, finding support from breakout levels Jack Dorsey is accumulating BTC, buys $10k worth every week Current transaction levels low but up from early Feb 2019 High net-worth individuals, it seems, are ramping up at current spot levels. Down 75 percent from 2017 highs, Bitcoin is available at a discount. As interest pick up, the resulting demand could push prices above $4,500. Bitcoin Price Analysis Fundamentals Like every new tech, trailblazing luminaries are often early adopters. It may be ten years since Satoshi Nakamoto rolled out…

World Isn’t Ready for Bitcoin Yet

Billionaire Eugene Kaspersky says bitcoin is a brilliant innovation, but the world is not ready for cryptocurrency just yet. However, the CEO of Russian cybersecurity firm Kaspersky Lab believes that will change — in 100 years. Kaspersky made the remarks in an interview with Arabian Business, during which he denied reports that his Moscow cybersecurity company develops spying technology for Russian intelligence. Bitcoin Adoption Requires New World Order Kaspersky says he believes that digital currencies will eventually overtake paper money in the future. However, he thinks that will require a…

Litecoin (LTC) Explodes, Is this the “Venezuelan Effect”

Litecoin price surge, up 14.8 percent Venezuela approves Bitcoin and Litecoin as remittance agents Volumes explode as Litecoin (LTC) likely to close above $50 It is only through Remesas, which has the support of the Venezuelan government and under its regulators, that users can send funds using Bitcoin and Litecoin. Perhaps, this move (not trusted by many) will further help pump Litecoin, up 14.8 percent in the last day. Litecoin Price Analysis Fundamentals Even though Litecoin (LTC)–like all coins may be recovering, the decision made by the Litecoin Foundation that…

Kraken’s $1 Billion Futures Trading Volume Prove Crypto Demand is Very High

Kraken’s acquisition of the UK-based cryptocurrency futures provider Crypto Facilities led the platform on a high trading volume spree, according to their latest statements. Sui Chung, the head of indices and price products at Crypto Facilities, confirmed that the trading volume on their futures platform increased by 565% following Kraken’s $100 million acquisition. In total, the platform recorded $1 billion worth of trades in over a 30-day timeline across all its products: bitcoin, ether, litecoin, bitcoin cash, and XRP. At the same time, Crypto Facilities noted a higher number of…

Coinbase Bought Neutrino Because Its Old Analysis Providers Sold User Data

Coinbase’s Director of Institutional Sales, Christine Sandler, said in an interview last week that, in part, the exchange acquired controversial software firm Neutrino because its prior blockchain analysis providers were selling customer data. “The compelling reason for making the acquisition was that Neutrino had some industry leading, best in class technology. It was important for us to migrate away from our current providers. They were selling client data to outside sources and it was compelling for us to get control over that and have proprietary technology that we could leverage…

Bitcoin Price Analysis: Short-Term Support Breaks on High Volume and Spread

Leading into the London open, bitcoin broke through its local support level in a move that seems to be hinting toward a downward continuation: Figure 1: BTC-USD, Daily Candles, Broken Local Support So far, our daily candle has yet to close, but it is currently on schedule to close below local support. If we close below this current level, that will mark a new lower low for the first time in about a week and a half. Although that is bearish, the real strong support level lies just below and…

Bitcoin Seeking Gains After Retaking Key Price Support

View The immediate outlook on bitcoin will remain neutral while prices are trapped in the range of $3,658-$3,900. A repeated failure to beat the 5-week MA support at $3,703 could invite buying pressures and yield a rally above $4,000, as that average is reporting bullish conditions for the first time since August. A UTC close below $3,658 (Feb. 27 low) would revive the bearish view put forward by the high-volume sell-off on Feb. 24 and open the doors for a drop to levels below $3,400. Bitcoin (BTC) has returned above…