AI-Based Youtube Bitcoin Explainer Trained By Real BTC Guides Gets It All Wrong

An AI compilation published on Youtube Tuesday that used pre-existing Bitcoin (BTC) explainers to come up with its own “basic stage training” on Bitcoin has resulted in almost complete nonsense, Mashable reports May 22. Created by Botnik Studios, which describes itself on Twitter as a “human-machine creative force,” the Youtube video is a voice over of the texts generated by an AI that used “predictive keyboard trained on dozens of Bitcoin explainers.” In order to introduce the viewer to the coin, the video first explains that “Bitcoin is the most…

UK Mosque Opens Crypto Donations in National First ‘Bitcoin Ramadan’

A UK mosque has broken with opinion and opted to accept cryptocurrency donations for this year’s Ramadan period, local media report this week. The Shacklewell Lane Mosque in Dalston, East London, also known as Masjid Ramadan, partnered with local Blockchain startup Combo Innovation to set up a Bitcoin and Ethereum wallet for the Ramadan practice of Zakat, or almsgiving. The UK’s only Turkish-owned mosque, Shacklewell Lane is going against the rulings of various Islamic scholars and the Turkish government, who previously determined cryptocurrency to be “incompatible” with Islam. Interpretations are…

Bitcoin Price Falls to $7,800 as Cryptocurrency Market Drops $27 Billion Overnight

Join our community of 10 000 traders on Hacked.com for just $39 per month. On yesterday’s report, CCN emphasized that if the bitcoin price falls below the $8,200 resistance level once again, a reentry into the $7,000 region is inevitable. Over the past 24 hours, the bitcoin price dropped by around 4 percent from $8,300 to $7,850. Bitcoin Price Trend As CCN previously reported, the recent correction of the cryptocurrency market can be attributed to three major factors: Mt. Gox sell-off in early May, Bitfinex taxation policy, and scandal involving…

Losses As High As 10%, Bitcoin Price Dips Below $8k

Crypto markets are seeing significant losses across the board, with all top ten coins by market cap in the red, as Coin360 data shows. Market visualization by Coin360 Bitcoin (BTC) is trading around $7,846 as of press time, down more than 4 percent over the 24 hour period. Trading volume for BTC has hovered between 5 and 6 bln for the past week, significantly down from volumes earlier this month. Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index Ethereum (ETH) has seen a loss of almost 10 percent over the…

Bitcoin Closing on Long-Term Bear Indicator Not Seen Since 2014

Following bitcoin’s recent losses, a key long-term trend indicator is looking increasingly bearish. Notably, the five-month moving average (MA) has rolled over in favor of the bears and looks set to cut the 10-month MA from above, signaling a bearish crossover for the first time since June 2014. If that occurs it could be a worrying signal for the long-term price outlook. Back then, following an identical crossover in June 2014, the cryptocurrency subsequently dropped by 70 percent (from $580 to $166) in the seven months leading up to January…

Bitcoin Price Watch: BTC/USD Breakdown Looks like Real Deal

Key Points Bitcoin price failed to hold the $8,240 support and declined sharply against the US Dollar. There is a major bearish trend line formed with resistance at $8,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair may well correct higher in the short term towards the $8,100 and $8,160 resistance levels. Bitcoin price broke key supports near $8,200 against the US Dollar. BTC/USD may continue to face selling interest near $8,100 and $8,200. Bitcoin Price Analysis Yesterday, we discussed about a major support…

Bitcoin (BTC) Price Watch: Kashkari Comments Bring Sellers In

Bitcoin Price Key Highlights Bitcoin price resumed its drop as price is now breaking past the mid-range area of interest. This could put it on track towards testing the range floor at the $6,550 level. Technical indicators are confirming that selling pressure is still in play. Bitcoin price seems poised for more losses as it reeled from Kashkari’s remarks and is setting its sights on the range bottom. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to…

Bitcoin Cash Price Analysis: BCH/USD Bearish Below $1,150

Key Points Bitcoin cash price declined further and broke a major support at $1,150 against the US Dollar. There is a major bearish trend line forming with resistance at $1,160 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair may perhaps continue to move down and it could even break the $1,100 support level. Bitcoin cash price is accelerating declines below $1,200 against the US Dollar. BCH/USD is now well below $1,150 and eyes a downside break below $1,100. Bitcoin Cash Price Resistance There was…

Bitcoin Price Falls to 35-Day Low Below $8K

Bitcoin’s price has slipped below $8,000 on Wednesday, reaching its 35-day low since Apr. 18 within just an hour after the trading entered morning session (UTC), data from CoinDesk’s Bitcoin Price Index shows. After steadily climbing up to nearly $10,000 on May 6, the price of the world’s largest cryptocurrency by trading volume has been on a gradual decline since then towards a current low at $7,876, reflecting a 20 percent drop over the past two weeks. The price has bounced back slightly to $7,910 as of press time. That said,…

Argentinian Bank Now Using Bitcoin For Cross-Border Transactions

Argentinian Banco Masventas (BMV), has announced a partnership Bitex to enable clients to use Bitcoin for international payments as an alternative to SWIFT, according to a Facebook post May 21. Bitex is a blockchain-based financial services provider based in Latin America. According to BMV, the new service allows customers to transfer money from account to account in less time than traditional bank transfers. BMV states that the new service will reduce transfer times by up to 24 hours. José Humberto Dakak, a principal shareholder of Masventas, said that the move…