Bitcoin Could Shed 20% & Drop to $7,400 Because Bulls Look Exhausted

Bitcoin’s impressive parabolic run may have come to its conclusion. On July 11, we warned investors that the No. 1 cryptocurrency would falter to $9,000 as it flailed overheated signals. At the time, bitcoin was bouncing and market participants were expecting a new 2019 high as the market threatened to breach resistance of $12,000. However, the cryptocurrency lost its bullish steam and it is now trading at approximately $9,700. As bitcoin continues to show signs of weakness, it could drop by another 20 percent, approximately. The price could even hit…

Incident Post Mortem: June 25–26, 2019

During the week of June 24, Coinbase.com had two periods of degraded service. On June 25, for a 30 minute period, most customers experienced error messages that prevented them from completing buys, sells, and trades. On June 26, for a 32 minute period, about a third of customers experienced error messages across the site and mobile apps. Below is a detailed description of the cause as well as the changes we have implemented to prevent any similar service degradations. From 15:16 PT to 15:46 PT (22:16–22:46 UTC), buy/sell/trade functionality on…

Major Altcoins Rally as Bitcoin Sees Slight Gains

Wednesday, July 17— The number one cryptocurrency Bitcoin (BTC) is seeing slight gains on the day as major altcoins (ETH) and Ripple (XRP) rally. Market visualization. Source: Coin360 Bitcoin has been trending down this week. Bitcoin retook $13,000 on July 9 before sinking all the way down to under $10,000 by July 16. At press time, BTC is trading just over $9,800 with a 2.64% gain on the day. On July 4, analysts at SFOX conjectured that Bitcoin could rally in light of the American national holiday Independence Day, arguing…

Reasons Why US Government Won’t Ban Libra Cryptocurrency

Things are heating up for Libra: This week’s United States congressional hearings showed that many politicians are not convinced by the safety aspects of Facebook’s cryptocurrency project, as they grilled the social media giant on privacy- and trust-related issues. In response, Facebook keeps stressing Libra’s compliance with regulators and readiness to discuss possible frameworks. Meanwhile, a drafted bill titled “Keep Big Tech out of Finance” surfaced right before the testimonies before Congress took place. So, does the U.S. government have the power to terminate Libra — which is something Rep.…

‘Smart Dubai’ Initiative Receives a Boost as DAG Platform Comes On Board

A DAG blockchain platform that can operate as the IT infrastructure for smart cities has announced a partnership with the private office of Sheikh Saeed bin Ahmed Al Maktoum — paving the way for an operational presence in Dubai. The Fantom Foundation says its protocol is designed to operate as the information technology infrastructure for smart cities that will make the lives of people living in urban areas easier — enhancing everything from health care and education to traffic management and environmental sustainability. Recently, the Unites Arab Emirates unveiled its “Smart…

Huobi Transitions From Current HUSD System to New ERC-20 Token

Huobi cryptocurrency exchange will transition its HUSD token from its current stablecoin system to an ERC-20 token through a partnership with crypto startups Stable Universal Limited and Paxos Trust Company. Per a press release published on July 17, Stable Universal will develop a new ERC-20 HUSD Token, which will be pegged to the United States dollar and held in reserve by the New York State Department of Financial Services-regulated custodian Paxos. Huobi will be the first platform to list HUSD Token. In the coming days, Huobi will change over from…

Ethereum (ETH) in Free Fall, Down 34% Following Bitcoin Cash Idea

Ethereum (ETH) slides 34 percent as bears step up Bitcoin Cash may be used to temporarily solve Ethereum’s scalability problems Vitalik has an audacious plan of integrating Ethereum with Bitcoin Cash before ETH 2.0 full activation. However, there is resistance from some quarters with a majority against his idea. In the meantime, bears are in full throttle as ETH slumps 34 percent from last week’s close. Ethereum Price Analysis Fundamentals Regardless of how Ethereum supporters try to scrutinize the platform’s performance, everything will boil down to scalability. Striking a perfect…

Rep. Waters Opens Libra Hearing With Indictment of Facebook’s Past Mistakes

Today, lawmakers on the United States House of Representatives Financial Services Committee are meeting to discuss the possible effects of Facebook’s proposed Libra cryptocurrency project on the financial system.  As a Cointelegraph respondent reports on July 17, committee chair Rep. Maxine Waters has opened the hearing with an indictment of Facebook’s past behavior. In her statement, Waters said that there was a, “demonstrated pattern of failing to keep consumer data private on a scale similar to Equifax.” Waters also stated that Facebook, “allowed malicious Russian state actors to purchase and…