Cryptocurrency News With URL like ci.covesting.io

January 15th Market Update: Ethereum Drops as Constantinople Hard Fork is Delayed
Following yesterday's price jump in the markets, most cryptocurrencies have drifted lower today, with Ethereum plunging over 6% due to its highly-anticipated Constantinople hard fork being delayed. Most cryptocurrencies are still trading up from their weekly lows despite today's downwards move, and most analysts still see positive price action being right around the corner. Yesterday, the markets surged allowing most cryptocurrencies to regain much of the losses they incurred over a volatile weekend trading session that left many altcoins sitting at their weekly lows. Bitcoin (BTC) has now dropped slightly over a 24-hour trading period and is currently trading down 2.2% at its current price of $3,625. Yesterday, Bitcoin traded around $3,700 for most of the day, from which it is has only drifted down slightly.

Swiss Luxury Watchmaker Announces Wrist Watch with Built-In Crypto Wallet
Swiss luxury watchmakers have begun getting into crypto in a big way, first with Hublot launching a Blockchain Watch which can only be purchased with Bitcoin, to celebrate ten years since the first ever cryptocurrency was created by the mysterious Satoshi Nakamoto. Following Hublot's lead, centuries-old Swiss watchmaker A. Favre & Fils are preparing to release a new luxury timepiece that comes with a built-in, fully featured cryptocurrency hardware wallet for cold storage. The ten-generation watchmaking company says it will merge the worlds of fine horology, mechatronics and cryptology to create a unique next-generation timepiece. A. Favre & Fils says the luxury wristwatch will feature a state of the art proprietary security solution that allows the watch to also function as a cryptocurrency hardware wallet for holding crypto assets in cold storage.

January 14th Market Update: Bitcoin Surges to $3,700, Validating $3,550 as a Level of Support
Following this past weekend's volatile trading period that led many altcoins to plunge 10% or more, the cryptocurrency markets bounced today, recovering much of its recent losses. Today's bounce also seemed to confirm $3,550 as a strong level of support for Bitcoin. Analysts are now claiming that this latest move up is significant from a technical and a fundamental standpoint, as it signals that the markets have been forming higher lows ever since they touched the low-$3,000 region in mid-December. As discussed in last Friday's market update, analysts previously speculated that Bitcoin had established a new trading range between $3,550 and $4,200 after it was unable to trade above $4,000 for an extended period of time.

This Week in Crypto: 51% Attacks, Monero Ransom, Ledger Nano X, and More
The cryptocurrency market never closes, and the industry itself is growing faster than ever. This means there's more breaking news, and more vital information emerging than ever before. This Week in Crypto is Covesting's weekly news recap aimed at providing the most complete coverage across the cryptosphere. This week, the original unforked Ethereum blockchain suffered a 51% attack that led to many exchanges and services being paused while the situation was investigated. The attack resulted in double spends of Ethereum Classic, amounting to a combined $1.1 million. According to researchers, the attack happened in two stages. The price of ETC plummeted in the wake of the news.

January 11th Market Update: Bitcoin and Crypto Markets Find Stability Following Yesterday's Drop
After a several-day period of relative stability in the cryptocurrency markets, they continued to trade with significant volatility yesterday when Bitcoin failed to hold above $4,000 for an extended period of time. Yesterday's drop sent most cryptocurrencies, including Bitcoin, spiraling down 10% or more, from which the markets have climbed slightly. It now appears that Bitcoin is forming fresh trading ranges that will give traders a better idea of how they can profit from volatility in the near-term. As discussed in previous market updates, there is a consensus amongst analysts that Bitcoin is currently caught in a wide trading range between $3,000 and $5,000, with significant support existing at the former price level and resistance at the latter price level.

January 10th Market Update: What Analysts Are Saying About Today's Crypto Plunge
Earlier today the cryptocurrency markets plunged after Bitcoin failed to stabilize above $4,000, a price level that bulls had ardently defended for multiple days. Analysts are saying that the recent move down is not fundamentally or technically driven, and is most likely the result of an incursion of selling pressure from bears. Following this recent drop, Bitcoin is now trading down slightly from where it began 2019, and it is looking increasingly likely that the bear market is far from being over. At the time of writing, Bitcoin (BTC) is trading down 9% at its current price of $3,675, down from its recent highs of $4,100 and down slightly from where it started 2019 at approximately $3,800.

Winklevoss Twins Predict Bitcoin's Market Cap to Surpass Gold, Over $7 Trillion
Early cryptocurrency supporters, former Olympic competitors, and founders of the cryptocurrency exchange Gemini, Cameron and Tyler Winklevoss took to the popular content aggregation platform Reddit to conduct an AMA. An AMA? on Reddit, stands for Ask Me Anything and gives notable individuals, or in this case, twins, a soapbox to answer the burning questions the Reddit community may have. In the AMA, the Winklevoss twins touched on some personal subjects, but overall kept the discussion focused on the cryptocurrency sector. In the Reddit thread dedicated to the Q&A session, Cameron and Tyler Winklevoss reasserted their commitment to pursing a Bitcoin ETF, and made some comments about the future of Bitcoin. Tyler noted that the twins believe that bitcoin is better at being gold than gold itself, and will eventually surpass gold's market cap of $7 trillion.

January 9th Market Update: Selling Volume and Short Positions Decline as Bitcoin's Price Maintains Above $4,000
Bitcoins bulls have presently been able to defend the $4,000 price level for the past several days, leading to a bout of sideways trading. Despite this, new data shows that Bitcoin's short positions and selling volume are gradually decreasing, which could mean that bears are losing their ground. In a recent market update, Mati Greenspan, the senior market analyst at eToro, spoke about the declining selling pressure behind Bitcoin, further noting that the overall cryptocurrency markets are currently consolidating after surging this past weekend. The crypto markets are consolidating gains at the moment and it seems that once again prices have stabilized. Bitcoin is holding steady at $4020 as of this writing. One thing we wanted to highlight is a little graph'that shows the short selling volume on the bitfinex crypto exchange. The red line is Bitcoin's price. The blue line is the level of short selling, which has dropped nearly 30% since its peak on January 1st, Greenspan explained.

Top 10 Influencers in Cryptocurrency
The cryptocurrency space is a relatively young industry and market, however, there are already several industry figures that are deeply ingrained in all things cryptocurrency, can speak with authority on a number of crypto-related topics, and have a strong influence over the cryptocurrency community. Cryptocurrency investors and enthusiasts alike look to these influencers to provide key commentary on industry trends or events, and are even sought to provide direction on where the market may go next. Here is Covesting's list of the top 10 cryptocurrency influencers, in no particular order: Changpeng Zhao is among the most beloved names in the cryptocurrency space. The outspoken Binance CEO always speaks in a positive tone, and his remarks are always geared toward the betterment of the cryptocurrency industry. If he's not making prolific tweets, then he's using his platform to tout all of the success his exchange is enjoying as of late.

January 8th Market Update: Bitcoin Fights to Stay Above $4,000, Analysts Conflicted on Where Resistance Exists
Following the market's recent surge upwards that occurred over this past weekend, Bitcoin has so far been able to maintain just a hair above $4,000, which has led to a prolonged sideways trading session for most major altcoins. This sideways trading has extended into today, with most altcoins either trading up or down marginally.  Although the markets are currently caught in a bout of relative stability, the Directional Movement Index (DMI) signals that they may soon make an upwards move, led by Bitcoin, which begs the question: where is Bitcoin's next level of significant resistance As discussed in yesterday's market update, Mati Greenspan, senior market analyst at eToro, explained in a recent note that he believes Bitcoin is caught in a wide trading range between $3,000 and $5,000, with a major point of resistance existing at the latter price point.

Crypto Compliance: Law Enforcement Requests Triple at US-Based Exchange
The United States is home to some of the world's top cryptocurrency exchanges. However, as government agencies and authorities grow increasingly concerned with the adoption and regulation of the cryptocurrency industry, intervention from those agencies is making the US an unwelcoming territory for cryptocurrency businesses. A recent Transparency Report published by US-based cryptocurrency exchange Kraken shows that law enforcement related requests have grown considerably over the last few years as cryptocurrencies entered the public limelight. In 2018, reports of law enforcement related requests tripled to 475, up from 160 in 2017. That figure has grown over ten times since 2015, when only 39 cases were reported.

January 7th Market Update: Crypto Markets Trade Sideways Following Recent Pump
Following the cryptocurrency market's recent surge that sent Bitcoins price above $4,000, the markets have held relatively steady with most altcoins dropping slightly. Although the recent pump was relatively small, the continuance of Bitcoin's gradual climb that has ensued since it touched the low-$3,000 region is positive for its future price action. Bitcoin's ability to stay above $4,000 so far has not led to any widespread rallies in the altcoin markets, as most investors are patiently waiting to see if it is able to hold above this level for an extended period of time. Over the past month, Bitcoin has sharply dropped every time its price jumped above $4,000, signaling a lack of buying pressure above this price. Despite this, one widely used technical indicator, called the Directional Movement Index (DMI) just crossed into positive territory for the first time in months, signaling that a temporary price rally for Bitcoin could be right around the corner.

This Week in Crypto: Genesis Block Anniversary, BitTorrent Token, More
The cryptocurrency market never closes, and the industry itself is growing faster than ever. This means there's more breaking news, and more vital information emerging than ever before. This Week in Crypto is Covesting's weekly news recap aimed at providing the most complete coverage across the cryptosphere. January 3rd marked the 10th anniversary of the date Bitcoin creator Satoshi Nakamoto processed the first Bitcoin block, called the Genesis Block. The first ever block resulted in a reward of 50 BTC, or $190,000 at today's prices. Back then, Bitcoin didn't yet have a value as it wasn't being traded yet. The first ever recording of a Bitcoin trade price was months later, pegging its price at $0.003. The 50 BTC block reward at that price would amount to a mere 15 cents.

January 4th Market Update: Crypto Markets Drop Slightly, Bitcoin and Ethereum Face Growing Resistance Near Current Price Levels
Following yesterday's drop in the cryptocurrency markets, they have extended their losses into today, with most cryptocurrencies trading down slightly. Both Bitcoin and Ethereum are facing growing resistance just above their current price levels. Bitcoin has been caught in a relatively tight trading range over the past week, trading between $3,700 and $4,000. At the time of writing, Bitcoin is trading down under 1% at its current price of $3,800. Over the past week, Bitcoin (BTC) has failed to break above $4,000, which has become a level of resistance. The Crypto Dog, a popular cryptocurrency analyst, shared his thoughts on the current market conditions, citing declining volume as a threat to Bitcoin's stability, concluding that a further drop may be necessary in order for a rally to ensue. He also dismissed the possibility of an inverse head and shoulders pattern forming, which would be definitively bullish for BTC.

Overstock Becomes First Major Company to Pay Taxes in Bitcoin
Online retail giant Overstock has announced plans to pay a portion of its annual taxes using Bitcoin this year. The move sees Overstock paying a portion of its state taxes in Ohio using Bitcoin in a pair of firsts. Ohio became the first state in the United States last year to allow taxes to be paid in Bitcoin, while Overstock becomes the first major company to take advantage of Ohio's openness to cryptocurrency and pay its taxes via Bitcoin. Overstock founder and CEO Patrick Byrne said that his company was proud to partner with forward-thinking governments and officials like Ohio and Treasurer Mandel to help usher in an era of trust through technology for our nation's essential financial systems.    

January 3rd Market Update: Cryptocurrencies Drop Following Yesterday's Surge
The cryptocurrency markets have dropped slightly today, surrendering a portion of yesterday's gains. Despite this, most cryptocurrencies are still trading up from their 24-hour lows, but a break of established resistance levels is necessary in order for bulls push the markets up. Yesterday, bulls pushed Bitcoin (BTC) to highs of nearly $4,000 before increased selling pressure halted Bitcoin's upwards momentum, dropping Bitcoin's price to lows of $3,700. Bulls then attempted to push Bitcoin to $4,000 again late yesterday, but its price was one again pushed down towards its current levels. At the time of writing, Bitcoin is trading down 1.3% at its current price of $3,840. If BTC continues getting rejected in the $4,000 region, it is likely that it will drop further and be pushed to previously established support levels that exist throughout the $3,000 range.

January 2nd Market Update: Ethereum Leads Market Surge Due to Upcoming Constantinople Fork
Following the recent levels of relative volatility in the cryptocurrency markets, the bulls have now gained the upper hand and have added nearly $8 billion to the markets over the past 24-hours. Today's market surge has led multiple altcoins to surge over 10%, although the markets could face growing resistance as Bitcoin nears $4,000. At the time of writing, Bitcoin (BTC) is trading up 4.4% at its current price of just under $3,900. This has been a relatively volatile week for Bitcoin, which fell to lows of $3,600 last week before pumping to highs of nearly $4,000. It is important to note that Bitcoin's price was swiftly pushed downwards to $3,700 after it touched the $4,000 region earlier this week, which signals that this price could be a level of resistance. It is currently unclear as to whether or not bulls will be able to add enough buying pressure to propel Bitcoin above this price level.

January 1st Market Update: After a Rough 2018, What Will 2019 Have in Store for the Crypto Markets
2018 proved to be a tough year for the cryptocurrency markets, with many altcoins dropping 90% or more. Despite this, there was a significant amount of development that occurred in the industry, which could mean that 2019 will prove to be a much better year for the markets. Around this time last year, the cryptocurrency market capitalization rose to highs of over $800 billion, from which it dropped nearly 90% to lows of $100 billion. This drop first began when Bitcoin failed to maintain its upwards momentum in December of 2017, dropping after it touched $20,000.  Although the markets failed to meet the expectations of many investors and analysts who had lofty predictions for where the markets would end 2018, they kicked off the New Year trading down slightly.

National Bank of Kuwait Becomes Latest to Join Up With Ripple
The National Bank of Kuwait has launched a new service focusing on speeding up its cross-border transfer system. The service, which will carry the name NBK Direct Remit, is the latest to join the Ripple network.  Focused on digital transformation, NBK has previously launched successful and innovative products that serve different segments, including the NBK Tap & Pay, QuickPay, NBK SelfiePay, cardless cash withdrawal, Biometric Cards, in addition to the continuous enhancements to the NBK Mobile Banking App and other services that make our customer's banking experience an enjoyable one. The launch of the service will initially only serve remittance with Jordan, but the bank itself has a much larger base of connections, with China, Singapore, Switzerland (Geneva), the UK (London), France (Paris), the US (New York), Lebanon, Bahrain, Iraq, Jordan, Egypt, Saudi Arabia, the United Arab Emirates and Turkey. The service is expected to expand more regionally to begin with, with the potential to grow throughout 2019 and 2020.

December 31st Market Update: Crypto Markets Fail to Rally As 2019 Rapidly Approaches
Although 2018 has been a rough year for the cryptocurrency markets, investors have also gained some levels of hope and excitement from pseudo-analysts who predicted that the markets would climb back towards their yearly highs as we approached the end of 2018. Despite this, the markets have not had any major rally towards the end of 2018, and it now appears that the persisting bear market will continue into 2019. At the time of writing, Bitcoin (BTC) is trading down 1.75% at its current price of $3,800. This past Thursday, Bitcoin's price dropped to lows of $3,600, which led many analysts and investors to believe that further losses were coming. However, on Friday Bitcoin's price surged to highs of nearly $4,000, from which has since dropped slightly.

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