Bitcoin’s Network Just Experienced Its Second Largest Downward Adjustment

As the market continues to tumble (and mining profits have dwindled), Bitcoin’s mining difficulty dropped by its largest percentile in seven years — the second largest downward correction in the cryptocurrency’s lifetime. The last time bitcoin experienced an adjustment on par with this recent one was on October 16, 2011, when it dropped 13.1 percent. Just over two weeks later, the network would experience its most significant difficulty decrease, falling by 18 percent on November 1, 2011. Now, on December 3, 2018, the network’s mining difficulty has fallen by 15.1…

Bitcoin Price Erases Weekend Gains to Confirm Bearish Long-Term Trend

The bitcoin price kicked off the week on a negative note after correcting 2 percent to the downside. The BTC/USD rate found itself unable to breach above the neckline level discussed in our previous analysis. The falling trendlines look stronger than ever in other patterns as well. The symmetrical triangle formation, for instance, on the hourly chart also presents its upper trendline as a strong resistance level to the recent bullish attempts. Bitcoin is forming lower highs and higher lows to consolidate inside the same triangle. As of now, we…

Op Ed: From Gray To Black and White: Traditional Regulations Come to Crypto

For nearly a decade, participants in the blockchain and cryptocurrency space have operated in a regulatory compliance gray zone. Recent developments — at both the federal and international levels — signal that the time for plausible deniability or unregulated freedom is coming to an end and more traditional regulations are moving to the forefront. Currently, whether a cryptocurrency-related business is subject to the Bank Secrecy Act (BSA) and its related regulations is a painstaking, case-by-case analysis. Recently, however, the primary criminal enforcement arm of the United States’ financial regulatory authorities,…

Crypto Winter Is Here and We Only Have Ourselves to Blame

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. ———— I have a friend who has made a significant fortune out of bitcoin. He is one of those enthusiasts who happily hands out the cryptocurrency to others in the interest of spreading adoption. All of that is good. However, one thing has always infuriated me: his boasts, especially last year,…

Investment Funds Network to Migrate Entire System to Blockchain in 2019

Investment funds transaction network Calastone, a founding member of the Linux Foundation-led Hyperledger Project, is shifting its entire system to the blockchain. The firm, which assists its client sell their funds all over the world via banks and financial advisors, expects to complete the switch to what it is calling the Distributed Market Infrastructure (DMI) next year in May. Calastone launches world-first #blockchain powered global funds marketplace in May 2019 pic.twitter.com/fd7UhGYfdE — Calastone (@CalastoneLtd) December 3, 2018 The move is expected to radically transform how funds are traded especially in…

Bitcoin Price Could Snap Three-Year Winning Streak in December

Bitcoin (BTC) may break its three-year December winning streak unless prices convincingly cross key resistance at $4,410 in the next few days. The leading cryptocurrency by market value gained 14 percent, 30 percent and 40 percent in the last month of 2015, 2016 and 2017, respectively, according to CoinDesk’s Bitcoin Price Index. (BPI). The odds, however, are stacked against BTC extending that winning streak this year. To start with, BTC’s convincing break below the 21-month exponential moving average (EMA) last month signaled a resumption of the bear market from the record high of $20,000 reached…

Bitcoin Price Watch: BTC/USD Remains Sell Near $4,200

Key Points Bitcoin price traded lower recently and broke the $4,120 support area against the US Dollar. There is a key bearish trend line in place with resistance at $4,180 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently trading above the $3,880 support, but it is at a risk of more losses. Bitcoin price failed to climb higher above $4,400 and declined against the US Dollar. BTC/USD remains sell on rallies near the $4,120 and $4,200 resistance levels. Bitcoin Price Analysis Recently,…

Cardano Price Analysis: ADA/USD Remains Supported Above $0.035

Key Highlights ADA price topped near the $0.0440 level and later corrected lower against the US Dollar (tethered). There is a major breakout pattern in place with resistance at $0.0430 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair could dip in the short term, but it remains supported near $0.0395 and $0.0378. Cardano price is holding gains against the US Dollar and Bitcoin. ADA/USD musts stay above $0.0370 and $0.0350 for a fresh upward move in the near term. Cardano Price Analysis There were…

GDPR Uncertainty a Key Concern of 74% of Blockchain Firms in the UK: Report

Regulatory uncertainty in Britain’s blockchain sector has emerged as one of the biggest concerns for distributed ledger technology firms in the country. According to research conducted by digital innovation agency Digital Catapult, 74% of blockchain firms in the United Kingdom cited regulatory issues as being one of their key concerns, surpassing other issues such as access to technical, business or legal expertise. These regulatory challenges include the European Union’s General Data Protection Regulation (GDPR). As the GDPR unifies Europe’s regulatory landscape regarding the use and storage of personal data, the…

Ripple Price Analysis: XRP/USD Could Extend Decline To $0.3300

Key Highlights Ripple price formed a high near the $0.4000 level and later declined against the US dollar. There was a break below a major connecting bullish trend line with support at $0.3610 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently under pressure and it could decline towards the $0.3380 or 0.3300 support. Ripple price started a downside correction against the US Dollar and Bitcoin. XRP/USD may continue to correct lower towards the $0.3300 support in the near term. Ripple Price Analysis…