Cryptocurrencies Surge 30%-100%. Why Momentum Can Boost Bitcoin Price

Bitcoin has remained relatively stable in the $3,800 to $3,900 range over the past week while crypto assets like Enjin Coin (ENJ), Litecoin (LTC), ICON (ICX), and Kyber Network (KNC) surged by 30 percent to 100 percent. 7-Day Price Chart of Kyber Network (Source: Coinmarketcap.com) Off of the reported partnership between Enjin and Samsung, the price of Kyber Network spiked by 60 percent overnight. In late January, the Enjin team revealed that it integrated Kyber, Changelly, and Bancor to convert 200 tokens from thousands of trading pairs natively on the…

Canadian Federal Tax Agency Targets Bitcoin Investors

The Canada Revenue Agency (CRA) has apparently been specifically targeting bitcoin and crypto investors as part of its broader tax strategy to keep tabs on their cryptocurrency investments, including how they purchase these assets. Forbes reported on this story in early March, detailing some of the tactics of the CRA, which include audits and questionnaires. In addition to subjecting cryptocurrency investors to audits, many of these same users have also been sent “comprehensive questionnaires to fill out regarding their bitcoin-related activity over the past years.” Reportedly, some sixty audits are…

Decentralized Exchange Hodl Hodl Is Launching a Bitcoin-Based Prediction Market

Hodl Hodl, a peer-to-peer cryptocurrency exchange, has announced that it is launching a prediction market on Bitcoin. Slated for launch in the spring of 2019, it would be the first Bitcoin-based prediction market to go live on Bitcoin’s mainnet. A prediction market is a novel application of blockchain technology. The betting platforms allow users to secure odds, futures and outcomes with smart contracts. Two users place funds (traditionally, ether) into a smart contract to bet on futures for any given outcome; when the outcome arrives, the smart contract automatically pays…

Revolut Launches Auto-Exchange Feature for Select Crypto and Fiat Currencies

Revolut, a mobile finance and payment application based in the U.K., has launched a service that makes it possible for its clients to “auto-exchange” fiat and digital currencies on its platform. The new feature is intended to make it possible for users to protect themselves against volatilities in the crypto market. Per a company blog post, Revolut users can automatically exchange “fiat currencies, such as the US dollar (USD) to ether (ETH) or bitcoin (BTC), to XRP,” and vice versa, based on a predetermined target rate. Customers can set it…

Bitcoin Price Analysis: New High Paves Potential Reversal Setup

After days and days of consolidation, bitcoin finally managed to break a new high for the first time in almost two weeks. This new high, so far, has been short lived, however, as it was almost immediately sold into by eager bears: Figure 1: BTC-USD, 4-Hour Candles, New High Our current 4-hour candle is seeing a relatively easy retracement after days and days of an upward grind. We managed to close a new high, but it was quickly rejected and, depending on where the currently daily closes, could lead to…