Bitcoin Price Analysis: Strong Rally Tests Trend-Changing Behavior

In a potentially trend-changing move, bitcoin has now managed establish its first *higher* low since the beginning of this years crypto bear market. In mid-June, after seeing a short-lived bounce from this year’s low in the upper $5,000s, the bitcoin market took a very harsh, unrelenting move that dropped the price from the mid $8000s to the $5900s. After such a strong move, the market managed to stabilize just above its previous low: Figure 1: BTC-USD, Daily Candles, New Higher Low Currently, the market is enjoying a steady climb from…

Google Dives into the Ethereum Blockchain with its Big Data Analytics Platform

Google BigQuery, Google Cloud’s Petabyte-scale data warehousing solution, has made the Ethereum dataset available to enable the exploration of smart contract analytics, the company announced on a blog. BigQuery has made it possible to explore all of Ethereum’s historical data. Ethereum’s ETL project on GitHub includes all source code that can be extracted from the blockchain and entered into BigQuery. Google is seeking new contributors and blockchains. Making Blockchain Data Accessible The purpose of making the Ethereum blockchain data accessible on Google Cloud is to make all data stored on the…

A Bitcoin ETF is Inevitable, but Damaging

Author of the book ‘Mastering Bitcoin’ and noted bitcoin advocate Andreas Antonopoulos believes that a Bitcoin ETF is imminent. However, he insists that the long-term implication of such fund will do more harm than good for the original cryptocurrency. Intermediary Bitcoin ownership Antonopoulos described an exchange traded fund(ETF) as a fund that has a custodian or a manager who creates a financial instrument that can be traded like a stock but in the actual sense of it, it isn’t a stock. So for a Bitcoin ETF, this fund is expected…

In a Mixed Crypto Market, Bitcoin Inches Upward but Ethereum Remains Shy of $300

Monday, September 3: crypto markets are mixed today, with scattered corrections on a minor scale, as Coin360 data shows. Market visualization from Coin360 Bitcoin (BTC) is trading at around $7,255 at press time, down a fraction of a percent on the day to consolidate its freshly won gains, according to Cointelegraph’s Bitcoin Price Index. Having reclaimed the $7,000 mark August 31, the top coin has been solidly rising to a yet higher price point, now pushing $7,300. Bitcoin is trading $525 higher than its value at the start of its…

India Sends Officials to US, Japan and Switzerland to Study Cryptocurrency and ICOs

The Securities and Exchange Board of India (SEBI) organized tours to other countries for its officials to study cryptocurrencies and initial coin offerings (ICO), according to its 2017-18 annual report. The Indian regulator reports that authorities have already undertaken “study tours” in particular to study cryptocurrency and ICOs at Japan’s Financial Services Agency (FSA), the U.K. Financial Conduct Authority (FCA) and the Swiss Financial Market Supervisory Authority (FINMA). The overseas study trips reportedly took place to help officials “engage with the international regulators and gain deeper understanding of the systems…

Thai Money Laundering Watchdog Looks to Tackle Crypto-Related Crimes

Thailand’s Anti-Money Laundering Office (AMLO) is considering creating its own digital wallet to investigate crypto-related cybercrime, local news outlet The Nation wrote Monday, September 3. The matter was discussed at a local seminar cryptocurrency crime within the current legal system. According to Witthaya Neetitham, secretary for AMLO, the regulator wants to adapt to the new technology by making it possibly for the government to confiscate crypto involved in fraud. “We have discussed launching our own ‘AMLO Wallet’ to hold or confiscate digital currency from illegal sources,” he said. Under existing…

Bitcoin Price Intraday Analysis: BTC/USD Could Attempt Pullback

On Monday, bitcoin price corrected weakly to the downside, summing up the pullback close to 3 percent. The BTC/USD looked lazy the whole day. The pair earlier corrected from its intraday high near 7340-fiat and continued its fall until hitting today’s low at 7203-fiat during the Asian morning session. The pair recovered later in an attempt to restest 7340-fiat, with its uptrend migrating smoothly from the Asian to the European trading hours. However, it was stopped by the Rising Wedge resistance, as depicted in the chart below. And now, as…

Japanese City Trials Blockchain Voting for Social Development Programs

A Japanese city government has become one of the first in the country to have tested a blockchain-based system that lets residents cast votes to decide on local development programs. The government of Tsukuba, a city known for its role in scientific development since the 1960s, completed the blockchain test on Aug. 28 with 119 votes gathered, according to a news report by the Japan Times on Sunday. The technology was used to select what’s called social contribution projects from a pool of proposals focused on technology applications including the internet…

Alibaba, IBM Top Global Blockchain Patent Rankings, Says New Research

Major financial and technological enterprises from China and the U.S. are leading the global drive to develop blockchain applications, according to a new report that ranks entities by patents filed. The research, released Friday by iPR Daily, a media outlet specializing in intellectual property, shows that Chinese internet giant Alibaba tops the list with a total of 90 patent applications focused on blockchain-related technologies. In second place is IBM, which falls just one short of that total with 89 filings, while Mastercard occupies third place with 80 filings. Bank of America made it…

Nano Was August’s Top-Performing Big Crypto Despite Yearly Low

The cryptocurrency markets had a rough run in August, with only a handful of projects making it into the green. Major names such as ethereum, bitcoin and XRP all dropped on the month, down 35.45, 9.44, and 27.93 percent, respectively. Adding pressure to the situation, bitcoin’s dominance rate rose substantially, up 6 points from July’s period of 48.34 to 54.58 percent on Aug. 15 – levels not seen since December last year. The high rate was a telling sign that traders were uncertain about price direction, utilizing bitcoin to exit…