Bakkt Looks for Support for Its Next Futures Contract

As Bitcoin continues to slide past the $4,500 mark, bullish investors need something to hold onto. Bakkt is trying to give it to them. Intercontinental Exchange, the owner of the NYSE, is fighting the good fight with a plan to make cryptocurrencies mainstream. Bakkt is its plan. The new platform offers regulated trading, clearing and custody, and security. It is a safe environment for consumers to buy, sell, store, and spend digital assets. Bakkt and Bitcoin The platform’s first futures contract will be a Bitcoin one, as it is “the clear crypto…

3 Major Factors Behind $65 Billion Wipe Out of Crypto Market

Twitter Facebook LinkedIn Chris Burniske, a Placeholder Management partner, said that the US stock market retracement, sell-off of Ethereum, and the Bitcoin Cash hard fork were the three major factors behind the recent crypto wipeout. In the past seven days, more than $65 billion has been deleted from the cryptocurrency market as every major cryptocurrency including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and other digital assets recorded large losses in the range of 10 to 50 percent. Bitcoin Cash Hard Fork Was the Main Catalyst Source: CoinMarketCap…

Bitcoin Usage Shrinks 80% Across Payment Processors as Interest Wanes

As investor confidence in the long-term validity of Bitcoin being adopted by the mainstream as a means of payment and exchange fades, so has its real-world usage as such. Bitcoin’s Real-World Usage as Means of Payment in Decline Bitcoin was created by the mysterious person or group known as Satoshi Nakamoto 10 years ago in the wake of the global financial crisis, as a “peer-to-peer electronic cash system.” Such a system has the potential to disrupt the current fiat-based economy, become a widely used means of exchange and form of…

We Won’t Use Blockchain until More Banks Use Ripple

Twitter Facebook LinkedIn Major money transfer service TransferWise has indicated that in spite of excitement over the growth of Ripple’s global payment solution, it has not seen a compelling case for using blockchain technology to carry out its business — yet. Speaking to Fortune recently, TransferWise chairman and co-founder Taavet Hinrikus stated that while there exists a lot of excitement over the possibilities created by the blockchain, its operational realities present a new set of challenges on their own. Excitement Versus Reality Speaking on a new episode of Fortune’s “Balancing the Ledger,” Hinrikus…

The Crypto Insurance Market May Total $6 Billion. That’s Nowhere Near Enough

As Wall Street raises the stakes around cryptocurrency, large institutional players are circling this new asset class and bringing with them their own set of requirements. For example, there’s a need for qualified custodians to hold the assets these big-money investors will trade, as in the traditional, regulated financial realm. But a less-discussed yet critical condition for making institutions feel at home is providing adequate insurance against theft for all those custodied assets. The problem is that there’s not enough of this insurance to go around. While insurance is an…

$5K Bounce? Bitcoin Price May Have Hit Bottom For Now

Bitcoin (BTC) could be in for a stronger recovery rally in the next few days, having found a temporary bottom near $4,000. The leading cryptocurrency, which hit a 14-month low of $4,048 on Bitstamp yesterday, is now trading at $4,580, representing a 2 percent gain on a 24-hour basis. The $500 recovery seen yesterday indicates that the market is finally paying heed to the record oversold levels reported by the 14-day relative strength index (RSI). Currently, the indicator is still hovering in oversold territory below 30.00. As a result, BTC…

South Korea to Track Beef Through Entire Supply Chain on a Blockchain

Twitter Facebook LinkedIn A blockchain technology pilot aimed at tracking beef through the entire food supply chain has been announced in South Korea. The pilot will be jointly undertaken by the Ministry of Science and ICT and the Ministry of Agriculture, Food and Rural Affairs, according to Yonhap News Agency. The launch date has been set for next month in North Jeolla Province and after a brief trial period, there will be a formal unveiling of the blockchain application in January next year. Currently, a paper-based reporting system is used…

Bitcoin Price Watch: BTC/USD Could Recover Toward $4,800

Key Points Bitcoin price extended losses and traded close to the $4,000 support against the US Dollar. There was a break above a major bearish trend line with resistance at $4,451 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price seems to be preparing for an upside correction towards the $4,800 level in the near term. Bitcoin price declined towards $4,000 before buyers appeared against the US Dollar. BTC/USD could correct higher towards the $4,750 or $4,800 resistance. Bitcoin Price Analysis Yesterday, we discussed that…

North Korea to Host Another Blockchain and Cryptocurrency Conference

Twitter Facebook LinkedIn In a bid to showcase some of its technological advancement and show its support for the blockchain technology, North Korea has announced plans to hold a blockchain and cryptocurrency conference. This comes on the heels of a similar conference held in August. The country announced that plans are already in the works for them to host some of the foremost experts in cryptocurrency operations and blockchain technology from all over the world to speak and share some of their knowledge in the Pyongyang Blockchain Conference, which is…

Cardano Price Analysis: ADA/USD Settled Below Key $0.05 Support

Key Highlights ADA price fell sharply and declined below the $0.0600 and $0.0500 support levels against the US Dollar (tethered). There is a major bearish trend line formed with resistance at $0.0490 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is currently trading well below the $0.0500 support and it could decline further. Cardano price declined below key supports against the US Dollar and Bitcoin. ADA/USD may correct higher, but it could face sellers near $0.049 and $0.050. Cardano Price Analysis During the past…