Ethereum Sell-Off in August Shows Crypto Has Hit a Bottom in 2018

According to cryptocurrency analyst Eric Thies, the crypto market may have hit a bottom in September as the price of Ethereum (ETH) declined by more than 50 percent. Since delving below the $180 mark, ETH has since recovered to $230, likely due to the demonstration of massively oversold conditions by the market in late September. ETH Enabled ICO Bubble, Which Led to Crypto Bubble ETH/USD | Bitfinex Throughout the third and fourth quarters of 2017, interest and demand for initial coin offering (ICO) projects hit an unprecedented level. Blockchain projects…

Swiss Asset Management Firm Tiberius Group AG Delays Launch of Metals-Backed Token

Switzerland-based commodities assets manager Tiberius Group AG has delayed the sale of its metals-backed cryptocurrency, Tiberius Coin, due to high fees from credit card companies, Bloomberg reported Oct. 9. The company announced its intention to issue a digital currency tied to the price of metals — copper, aluminum, nickel, cobalt, tin, gold and platinum — in late September. Tiberius Group then explained that “instead of underlying the digital currency with only one commodity, we have chosen a mix of technology metals, stability metals and electric vehicle metals. This will give…

Research Says Crypto Market on Verge of ‘Implosion,’ Cites Low Transaction Volumes

A recent study from Juniper Research states that the cryptocurrency market could “implode” and that transaction volumes are decreasing, Bloomberg reported Oct. 9. In a report dubbed “The Future of Cryptocurrency: Bitcoin & Altcoin Trends & Challenges 2018-2023” Juniper assessed the challenges of digital currencies, with a focus on technical, social and regulatory concerns. The survey also analyzed such issues like regulatory developments across the market, exchange failure, hacker attacks, and blockchain forking and their impact on crypto volatility. Per Juniper, daily transaction volumes with Bitcoin (BTC) have dropped from…

Bitcoin.Com May Launch Its Own Crypto Exchange

Bitcoin (BTC) and Bitcoin Cash (BCH) services firm Bitcoin.com is planning to buy or set up its own crypto exchange, the company’s CEO Roger Ver revealed in an interview with Bloomberg Oct. 9. According to Ver, the upcoming crypto trading platform will be placed on the Bitcoin.com website, which is expected to generate a great amount of traffic via various services such as wallet transactions and news. Ver said the new platform will get “thousands or tens of thousands of new users every single day” through Bitcoin.com. Ver mentioned that…

Bitcoin Price Intraday Analysis: BTC/USD Confirms Bull Trap

The Bitcoin-to-dollar exchange rate on Tuesday dropped 1.69 percent from 6734-fiat to 6620-fiat after confirming a bull trap. The current market volume is lower than expected to excite a steady upside – even downside. In our previous analysis, we had stated that a breakout would be confirmed once we climb over September 5 high. BTC/USD managed to test the level in yesterday’s upside action but didn’t see as many open long positions as closed ones. That said, 6734-fiat is already a level to watch out for to confirm a short-term break…

Bitcoin Price Heading into ‘Classic Breakout Pattern’: Analyst

The bitcoin price has been remarkably stagnant in recent weeks, with the flagship cryptocurrency’s volatility declining to a 17-month low on Oct. 8. Analysts including Bloomberg Intelligence commodity strategist Mike McGlone have said that this could be an indication the cryptocurrency market is beginning to establish itself into a maturing asset class. But while declining volatility may make the case that bitcoin is a store of value a bit more plausible, cryptocurrency investors, particularly those who placed their bets when the market was near an all-time high, would prefer that…

Forbes Partners With Blockchain-Based Journalism Platform to Publish Content

International business media outlet Forbes has partnered with blockchain-based platform Civil to publish its content on a decentralized network, Civil’s co-founder confirmed on Medium on Tuesday, Oct. 9. According to Civil co-founder Matt Coolidge, Forbes is integrating Civil’s software into its own content management system (CMC). From the beginning of 2019, journalists will be able to upload their data to the Civil network while posting it to the Forbes website simultaneously. Forbes, a U.S. business news outlet founded in 1917, reaches more than 120 million people globally through its main…

Crypto Mining Becomes Less Profitable, Shifts Towards ‘Bigger Players,’ Report Shows

Bitcoin (BTC) miner revenues for the first six months of 2018 have already surpassed results in 2017, but the miners themselves see little profit, weekly crypto outlet Diar reports Monday, October 8. As per the Diar report, the rewards and fees for BTC miners have already reached $4.7 billion in the first three quarters of 2018, around $1.4 billion more than the profits in all of 2017. Miners still gain 54,000 Bitcoin monthly, the outlet continues. However, mining is gradually becoming profitable only for “big guns” as electricity prices are…

Think Crypto’s Challenges Are Unique? It’s Just History Repeating Itself

From bartering to blockchain, the world of money – and the way we transfer it – has never stood still. Indeed, even the assets we prize have changed. Although it might be nice to have some vegetables in your fridge, using it as a form of currency has probably never crossed your mind. It’s easy to take financial systems for granted. But every advancement over the centuries has caused some major disruption and a lot of getting used to. With each new system came imperfections and pitfalls – and in…

IBM, Azeri Central Bank Cooperate on Blockchain Development, Local Media Report

IBM and the Central Bank of Azerbaijan (CBA) will reportedly collaborate on implementing blockchain technology in the country’s economy, Central Asian-focused Trend News Agency reports October 9. Trend News Agency is an established news service provider spanning the Caucasus, Caspian region and Central Asia, with dedicated news platforms in Azerbaijani, Russian, Turkish and Persian, alongside an English-language platform The agency states that the director of the Information Technology Department at the CBA, Farid Osmanov, revealed news of the five-year program for the digital transformation of the economy at the Azerbaijan-Germany…