Market Wrap: Bitcoin Remains Around $48.5K Amid Flat Trading Activity

Bitcoin faced choppy markets for most of Tuesday after briefly trading above $50,000 for the first time during early U.S. trading hours. With some remaining bullish, other analysts and traders warned about near-term price correction. Bitcoin (BTC) trading around 48,810.95 as of 21:00 UTC (4 p.m. ET). Gaining 0.39% over the previous 24 hours.  Bitcoin’s 24-hour range: $47,088.84-$50,584.85 (CoinDesk 20) BTC between its 10-hour and 50-hour averages on the hourly chart, a sideway signal for market technicians. Bitcoin trading on Bitstamp since Feb. 13. Source: TradingView Bitcoin volumes on major…

Dermot O’Riordan: Taking Stock of How Far Crypto Has Come

Eleven years post-Bitcoin, six years post-launch of Ethereum, eight days after that announcement, the first signs of crypto product-market fit are before us.  Michael Seibel (the co-Founder at Twitch and president of Y Combinator) likes to say that product-market fit isn’t some kind of wishy-washy metric. “You have reached product/market fit when you are overwhelmed with usage –usually to the point where… you are swamped just keeping it up and running.” It’s when you have so much demand you can’t keep up with it.  Dermot O’Riordan is a Partner at…

Janine Yorio: Here Comes the Virtual Real Estate Boom

I have spent my entire professional career devising novel ways to invest in real estate, and recently I have been spending a lot of time in Decentraland. For many years, my colleague TJ Kawamura has been pushing me to look into blockchain-based digital real estate, but it wasn’t until recently that it all clicked for me. Digital real estate has become a legitimate asset class, one worthy of investor consideration and one I believe is likely to appreciate exponentially over the near-term. Not only is digital real estate capable of…

Popular Crypto App Has Ties to Data Trackers: Report

Android versions of popular cryptocurrency app Bitcoin Ticker Widget and a seeming clone of Steemit, Steemit Earn Money, included software development kit (SDK) tools that extract extensive data on users in the past and are potentially linked to location tracking code from X-Mode a notorious data tracking company, according to a new report from Express VPN Digital Security Lab. Two other personal finance apps also have been found to contain these data trackers.   “We wanted to say to consumers: ‘This is a huge problem; you may not be aware of…

Will 2021 Finally Be the Year of the Bitcoin ETF?

There’s been renewed interest in bitcoin exchange-traded funds (ETFs) with the nomination of Gary Gensler to head the Securities and Exchange Commission and the approval of a true Canadian bitcoin ETF. Whether one gets approved in the U.S. is still unclear. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. When ETF? The narrative The big news last week was the Ontario Securities Commission approved North America’s first bitcoin ETF in Canada. An ETF, which is…

Market Wrap: Bitcoin Sticks Around $9,200 as Traders Eye Other Markets for Action

Traders look towards altcoins and equities as volatility dips in a quiet July bitcoin market. Bitcoin (BTC) trading around $9,185 as of 20:00 UTC (4 p.m. ET). Slipping 1% over the previous 24 hours. Bitcoin’s 24-hour range: $9,153-$9,279 BTC below 10-day and 50-day moving average, a bearish signal for market technicians. Bitcoin trading on Coinbase since July 14.Source: TradingView Traders seem to pine for the bitcoin volatility that was once the norm – and they expect it to return after what has been a lull. “Trading bitcoins is about as exciting…

Down 26%: Bitcoin Sees Worst Sell-Off in 7 Years as Coronavirus Spurs Flight to Safety

Bitcoin (BTC) suffered its biggest drop in seven years, as fears over the spreading coronavirus triggered a new wave of selling in everything from stocks and junk bonds to cryptocurrencies. This came despite a new European Central Bank pledge to pump more cash into panicky markets.   Prices for the largest cryptocurrency by market value plunged 26 percent to $5,863 as of 13:54 UTC (9:54 a.m. Eastern time). The move wiped out bitcoin’s gains for the year, dropping prices to the lowest level since May 2019. At least for now, it…

US Court Fines ICOBox $16M for Securities Violation in SEC Case

A federal court has ordered ICOBox to pay a $16 million penalty to the Securities and Exchange Commission’s (SEC) for violating U.S. securities law. On March 5, Judge Dale S. Fischer of the District Court for the Central District of California granted the SEC’s motion for default judgment against the ICO-as-a-service platform and founder and CEO Nikolay Evdokimov. The SEC first brought charges against ICOBox in September 2019, accusing the company of hosting an unregistered securities sale. The regulator also accused the company of acting as an unlicensed securities broker…

Blockforce Capital’s Crypto Fund Captures 86% of Bitcoin’s Upside in 2020

In the first two months of 2020, Blockforce Capital’s multi-strategy master fund saw a 16.8 percent return compared to a 19.5 percent return in bitcoin, the company announced in a note to accredited investors.  Blockforce is a seasoned ETF issuer which specializes in alternative investment vehicles for investors. In February of last year the company infamously filed the first proposal for an exchange-traded fund made up of a mix of currencies including bitcoin only to pull the fund at the U.S. Securities and Exchange Commission’s request the next day. Currently,…