The Biggest Winners from April’s Early Crypto Market Rebound

The Biggest Winners from April’s Early Crypto Market Rebound

Bitcoin and the rest of the cryptocurrency market have started Q2 off with an emphatic bang, having at one point increased the market’s total capitalization by nearly $40 billion since the beginning of April. Indeed, bitcoin led the market-wide charge on April 2, surging over 20 percent in a single hour – a move that had since extended to a 136 day of $5,304 yesterday, according to data from CoinDesk’s price data.
Bitcoin Faces Price Pullback Amid Extremely Overbought Conditions

Bitcoin Faces Price Pullback Amid Extremely Overbought Conditions

View Bitcoin’s quick drop from a 4.5-month high of $5,345 to levels below $5,000 validates the extremely overbought readings on the 14-day relative strength index. BTC could consolidate around $5,000 with a negative bias over the next day or two. A pullback back to key support levels at $4,672 and $4,565 (200-hour MA) can’t be ruled out. The longer-term outlook will remain bullish as long as bitcoin’s price holds above the former resistance-turned-support of $4,236.
Zebpay Integrates Bitcoin Lightning Payments on Its Mobile App

Zebpay Integrates Bitcoin Lightning Payments on Its Mobile App

Malta-based cryptocurrency exchange Zebpay now supports Lightning payments. The exchange announced the news via a blog post, where it claims to be the "first major exchange" to enable Lightning payments for its users. Per the report, Zebpay users can now login into their wallet and use their bitcoin balances to make micro-purchases for free.
Innisfil Becomes First City in Canada to Accept Bitcoin for Municipal Taxes

Innisfil Becomes First City in Canada to Accept Bitcoin for Municipal Taxes

Ohio might have made history as the first state to accept cryptocurrency for corporate taxes, but one Canadian town is adding its name to the books by becoming the first in North America to permit its citizens to pay their personal taxes in bitcoin.The tiny town of Innisfil (with a population of 36,500), situated about 45 minutes north of Toronto, just approved an initiative that will allow its residents to satisfy their municipal taxes (income taxes and property taxes) in bitcoin, beginning in April 2019.
Europol Launches Global Campaign Against Dark Web Vendors, Buyers

Europol Launches Global Campaign Against Dark Web Vendors, Buyers

The European Union Agency for Law Enforcement Cooperation, better known as Europol, announced on March 26, 2019, that it has made an ongoing partnership with law enforcement from Canada, the United States and the member states of the European Union to target buyers and sellers of illegal items on the dark web. This announcement was made on Europol’s website, describing the progress of the crackdown to date, including 61 arrests made and over €6.
LocalBitcoins, Once a Go-To for Anonymous Bitcoin Transactions, Adds KYC

LocalBitcoins, Once a Go-To for Anonymous Bitcoin Transactions, Adds KYC

The Finland-based, peer-to-peer cryptocurrency trading platform LocalBitcoins released a statement on March 25, 2019, responding to a new act approved by the Finnish Parliament that will require users to verify their identities. This marks a major change for the service, which had been a primary way for users wishing to protect their anonymity to meet others willing to buy or sell bitcoin in person without sharing details about their identities.
Singapore’s DragonEx Reports Hack, Releases Suspected Wallet Addresses

Singapore’s DragonEx Reports Hack, Releases Suspected Wallet Addresses

The Singapore-based cryptocurrency exchange DragonEx has announced a security breach to its users via its official Telegram channel. In the message, a company administrator revealed that the hackers stole assets belonging to both the exchange and its users. Per the message from the admin, the attack occurred on March 24, 2019, and the exchange then decided to take its servers offline under the pretense of “system maintenance/upgrade.
Bitcoin’s Price Rises Above Major Moving Averages In First Since 2018

Bitcoin’s Price Rises Above Major Moving Averages In First Since 2018

Bitcoin’s price emerged above three major moving averages for the first time in nearly 15 months on Tuesday. The development is a byproduct of the cryptocurrency’s surge above $5,000 during Tuesday’s trading session, representing an increase in excess of 20 percent. A moving average (MA), when used in financial analysis, is simply a continuously calculated average of a certain economic factor like price or trading volume over a specified period of time.
3 Reasons Bitcon’s Price Suddenly Surged Back to $5K

3 Reasons Bitcon’s Price Suddenly Surged Back to $5K

The crypto market sprang back to life with bitcoin’s surge to 4.5-month highs yesterday. But why? The leading cryptocurrency by market value jumped nearly $1,000 to $5,080 in a sixty-minute window early on Tuesday, confirming a transition from a bear market to a bull market. While the bullish breakout is a welcome development following a year-long bear market, many traders are still unsure of what suddenly drove prices higher.
Crypto Exchanges Are Suddenly Being Censored In Iran

Crypto Exchanges Are Suddenly Being Censored In Iran

“Every crypto exchange in Iran [has been] filtered since May.” That’s how one Iranian bitcoin advocate, speaking on condition of anonymity, described a new wave of government censorship that has cut Iranians off from vital links to the crypto economy ahead of a scheduled renewal of U.S. sanctions in August and November.
US State Seeks to Confiscate $24 Million in Dark Web Bitcoin

US State Seeks to Confiscate $24 Million in Dark Web Bitcoin

The U.S. government is seeking to forfeit 4,000 bitcoins that were seized during a crackdown of vendors on darkweb marketplaces – an amount that worth over $24 million as of press time. According to an announcement published by the Department of Justice for the District of Maryland on Tuesday, the prosecutors indicted two men, Ryan Farace and Robert Swain, both residents of the state who allegedly manufactured drugs and distributed them through darkweb marketplaces.
Mt Gox to Enter Civil Rehabilitation in Major Win for Creditors

Mt Gox to Enter Civil Rehabilitation in Major Win for Creditors

Creditors of the defunct bitcoin exchange Mt. Gox just won a big victory. According to a Friday release from Mt. Gox trustee Nobuaki Kobayashi, the exchange’s ongoing bankruptcy proceedings have been paused and a civil rehabilitation process will commence. The Tokyo District Court issued an order on June 22 approving a petition to begin civil rehabilitation, which was initially submitted in November of last year.
Bitcoin Fights Back, But Too Early to Call Bull Reversal

Bitcoin Fights Back, But Too Early to Call Bull Reversal

Bitcoin’s (BTC) bulls have staged a defense after nearly a month of losses, but a short-term bullish trend reversal is not yet confirmed, the technical charts indicate. As of writing, the cryptocurrency is up 5 percent at $7,487 on Bitfinex, having clocked a four-day high of $7,560 earlier today. A minor corrective rally had been expected, courtesy of a bullish price-relative strength index divergence in the short duration charts seen over the last two days.
Korea Seizes Bitcoin Worth $1.4 Million Following Supreme Court Ruling

Korea Seizes Bitcoin Worth $1.4 Million Following Supreme Court Ruling

The South Korean government is moving to confiscate 191 bitcoins seized in a child-porn cybercrime case in which the perpetrator has now been sentenced to jail and a $640,000 fine. According to Korean news agency Yonhap, the move comes after South Korea’s Supreme Court ruled on Wednesday that cryptocurrencies can be seen as property with value that can be subject to forfeiture in criminal cases.
A New Twist On Lightning Tech Could Be Coming Soon to Bitcoin

A New Twist On Lightning Tech Could Be Coming Soon to Bitcoin

Bitcoin’s lightning network may be just starting to send transactions over the blockchain, but already its developers are looking to rearchitect the technology. That’s because, while touted as a way to significantly boost bitcoin’s capacity, the network itself does require users to store a significant amount of data, which makes it difficult to download and run. As such, several lightning developers – Lightning Labs co-founder ‘Laolu’ Osuntokun and Blockstream’s Christian Decker and Rusty Russell – have published a new proposal which imagines an alternative, “simplified” way of making off-chain transactions called eltoo.
Bitcoin Bears In Charge But Indecision Could Spur Rally

Bitcoin Bears In Charge But Indecision Could Spur Rally

While the odds are still stacked in favor of bitcoin’s bears, a level of indecision looks to be creeping in, according to the technical charts. The cryptocurrency fell to a 6.5-week low of $7,142 on Bitfinex earlier today, having breached the 50-week moving average (MA) support for the first time since 2015. Amid the continued drop in prices, though, the charts show a doji candle formed yesterday, indicating that the bears may be running out of steam and a short-term rally could be on the cards.
Bitcoin Faces Close Below Long-Term Support In First Since 2015

Bitcoin Faces Close Below Long-Term Support In First Since 2015

Bitcoin risks closing below the 50-week moving average (MA) – an important long-term support not breached for over two-and-a-half years. With the bears already on the offensive following the recent sell-off, prices are likely to suffer if bitcoin closes on Sunday below the key support, currently seen at $7,611. More worryingly for the bulls, since the cryptocurrency has not traded below the 50-week MA since October 2015, acceptance below that level would only add credence to the argument that the long-term bull run has ended.
Bitcoin Price Faces Bear Indicator Not Seen Since 2014

Bitcoin Price Faces 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 – a bearish crossover that hasn’t been seen 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 2015.
Maximalist for Hire: Bitcoin Believer Pierre Rochard Starts Advisory Firm

Maximalist for Hire: Bitcoin Believer Pierre Rochard Starts Advisory Firm

Don’t judge a self-proclaimed bitcoin maximalist by his trollish tweets. At least not Paris-born Pierre Rochard, who many have surely dismissed because of his bombastic Twitter account, which he routinely uses to diss “altcoin” fans for “peddling trash.” But to disregard him would be to miss the nuanced theory behind his quips. “Obviously, there are other currencies that exist today,” Rochard, a 29-year-old accountant turned self-taught software engineer, told CoinDesk.
Bear Mood? $9K Still in Play Despite Bitcoin Rally

Bear Mood? $9K Still in Play Despite Bitcoin Rally

Despite a brief rally yesterday, bitcoin (BTC) is still in corrective mode and risks falling back below $9,000, chart analysis suggests. The cryptocurrency broke out of the bearish falling channel setup Wednesday, courtesy of a bullish relative strength index (RSI) divergence – indicating the pullback from the recent high of $9,990 had ended at a low of $8,980.
Bitcoin Lightning Payments Are Slowly Becoming Less ‘Reckless’

Bitcoin Lightning Payments Are Slowly Becoming Less ‘Reckless’

You’re running a full bitcoin node, know Linux and have decent command line skills. Okay? Cool, go ahead and spin up a Docker instance. If that sounds intimidating, you’re not alone. But as recently as January, using the lightning network, a layer-two technology for scaling bitcoin, on “mainnet” – i.e., with real money – called for these rarified levels of technical expertise.
Bitcoin Sets Sights Above $10K After Bull Breakout

Bitcoin Sets Sights Above $10K After Bull Breakout

Following a bull breakout last night, bitcoin (BTC) looks set to test $10,000 and could possibly move higher over the weekend. Bitcoin closed yesterday (as per UTC) at $9,759 on Bitfinex – the highest daily close since March 7 – signaling the upside break of the week-long narrowing price range we’ve been anticipating. The cryptocurrency also clocked a two-month high of $9,875 yesterday.
$8,300: Bitcoin Seeks Direction at Key Price Hurdle

$8,300: Bitcoin Seeks Direction at Key Price Hurdle

Bitcoin (BTC) remains in bullish territory today, but a major break above the long-term descending trendline has been elusive. That failure on the part of the bulls means the cryptocurrency needs a major move above $8,300 soon to lessen the risks of another sell-off. The trendline resistance is around $8,285 currently. However, soon before press time, BTC was closing in on that target level and changing hands at $8,226 on Bitfinex (up 1.4 percent on a 24-hour basis). So, the next few hours are likely to determine the pattern going forward.
Holding Strong: Failed Price Breakdown a Boon for Bitcoin Bulls?

Holding Strong: Failed Price Breakdown a Boon for Bitcoin Bulls?

Bitcoin has witnessed decent two-way business in the last 24 hours. A drop below $8,000 during the Asian day was quickly undone and the world’s largest cryptocurrency by market value once again approached record highs, hitting $8,333 this morning. At press time, bitcoin is changing hands at $8,228, according to CoinDesk’s Bitcoin Price Index. As per CoinMarketCap, the bitcoin-U.
Up and Away? Bitcoin Price Eyes $8,000 Or Higher

Up and Away? Bitcoin Price Eyes $8,000 Or Higher

Bitcoin is still looking upwards, having achieved fresh record highs overnight. As per CoinDesk’s Bitcoin Price Index (BPI), the world’s largest cryptocurrency by market capitalization rose to an all-time high of $7,990 at 01:18 UTC. According to CoinMarketCap, the cryptocurrency has gained 4 percent in the last 24 hours.