Showing posts with label bitcoin. Show all posts
Showing posts with label bitcoin. Show all posts

Why Bitcoin Could Recover After a 17% Decline - The December 2019 Outlook...

Welcome to the December 2019 Crypto Outlook with Contentworks, an agency specialising in content marketing for financial services, crypto and blockchain. It’s the most wonderful time of the year for many, but will the price of Bitcoin fill traders with festive cheer, or leave them out in the cold? Let’s find out.

Bitcoin had a rough month in November. Its price declined by 17%. In total, the currency has dropped by 21% over the past three months although it has gained by more than 90% year-to-date. This means that it has outperformed stocks and gold. The S&P 500 and the Dow have gained by 25% and 20% respectively while gold has gained by just 14%. The recent decline came as sentiment shifted from volatile assets like crypto and moved to stocks as the market continued to hope that a trade deal between the United States and China will be sealed. That has not happened, seven weeks after the two countries talked about the first phase of the deal.

The price of Bitcoin also dropped as China started to crackdown against unregulated cryptocurrencies in the country. This led to the closure of cryptocurrency exchanges. The crackdown was the biggest cleanup exercise after the one done in 2017 when the price of cryptocurrencies was surging. The latest crackdown is also important because of how important Asia is to the world of cryptocurrencies. According to Chainalysis, 20 of the biggest cryptocurrency exchanges are located in Asia. In addition, 40% of all crypto transactions happen in Asia. Also, the market received reports that the CEO of a little-known exchange known as IDAX had gone missing. This means that its users had lost an unknown amount of money.

However, it is still incredibly difficult to ban cryptocurrencies as this could lead to a thriving underground industry. Instead, governments should put in place meaningful regulations. Therefore, the market will continue to pay close attention to China in December to see what happens.

The market will also focus on North Korea. In November, it was reported that the country was developing its own digital currency. Unlike the Chinese digital yuan, North Korean officials said that the currency will be more like Bitcoin. The digital yuan will be a normal currency but in digital format. It will be monitored and controlled by the PBOC. Meanwhile, North Korea’s currency will be a real cryptocurrency that will be mined by users from around the world. The country, which hosted a blockchain summit in April, hopes that its currency will help it get around the crippling sanctions placed by the United States. Talks between Kim and Trump appear to have been unsuccessful. In recent years, isolated countries like Iran and Venezuela have turned to crypto to do business.

A look at the Bitcoin chart shows that it’s likely the price could recover in December. Firstly, the BTC/USD chart has reached a 61.8% Fibonacci Retracement level on the 52-week chart shown below. This is usually an indication that prices could recover. Secondly, the price of Bitcoin has historically risen in December. It reached an all-time high in December 2017 and this year’s rally started in December. Finally, the market is still thinking of halving, which will happen in April next year. This halving could lead to a significant rally. We saw that earlier this year with Litecoin.

The market will also be watching a number of events this month. The most important ones will be the World Blockchain Summit in Bangkok, Elev8Con in Las Vegas, and the Blockchain Innovation and Investment Summit in Dubai.

At Contentworks, our team of financial professionals closely follows market movements for FX, Crypto and other tradable instruments. We are proud to serve some of the biggest crypto and fintech companies in the world by delivering high-impact articles, videos, PR and white papers. 

Information Provided via Press Release
Distributed by Global Crypto Press Association Press Release Distribution for industry.

Roger Ver Tells CNBC Bitcoin Cash "Can Still Go Up 1000X" - Okay... One BIG PROBLEM With That...

Roger Ver, founder of, who's known as "Bitcoin Jesus," joins CNBC's "Power Lunch" team to talk about the cryptocurrency markets, the price of Bitcoin and more.

Crypto Press Association Editorial: 
Okay, i'm neither a Bitcoin Cash hater, or fanatic.  I hold some, and I hold some of the original (whatever you may call it) Bitcoin as well.

As someone who works in crypto full time, and regularly pays people or receives payments in crypto, I have also experienced the downsides of Bitcoin when the network is congested, and fees are high.  Which is why I tend to request payments of funds I intend to live off (and not HODL) in another coin. My landlord doesn't take crypto, so if i'm about to convert it to fiat currency upon receiving it so I can pay my insane San Francisco Bay Area rent - Ethereum or Litecoin is fine.

I just wanted to establish for the Bitcoin Cash die-hard believers - i'm not the enemy.

But I do have one issue, and the above video is a perfect example.

Roger claims that Bitcoin Cash needs to exist because of the previously mentioned issues with Bitcoin.  Summed up, these issues have rendered Bitcoin unusable as a replacement for cash, which is one of it's intended uses, as outlined by the ultimate authority on the subject - Satoshi himself, in the Bitcoin whitepaper.   So far so good, solid argument.

But then you guys say things like "it could still go up 1000X" and that's where you lose me completely. 

So i'm supposed to spend something that could increase in value by 1000X? Are you KIDDING ME? 

If the 1000x thing is even half true, we better not spend even a fraction of a Bitcoin Cash token - you'd have to be insane. 

No investment advisor would suggest selling a stock they believe would even 10X in value - yet Roger will go on TV to talk about how easy it is to give up (spend) an asset of yours that would have made you rich if you just held onto it?

So, we've established only an idiot would spend Bitcoin Cash.

But now that we're not spending it... who cares about the transaction times and fees? These don't matter now that you've just convinced me to HODL.

You're seriously saying I should think "thank god there's no $10 transaction fee" when the day comes and I finally sell my Bitcoin Cash... at $200,000 per coin!? Who cares!

So do we spend this thing like cash, or hold on because it's current price is nothing compare to whats coming?

Cash depreciates in value, literally the opposite of what you say Bitcoin Cash will do.  That's why we can't treat them the same.
Having it both ways is destroying the argument that it needs to exist at all.  Everyone agrees the original Bitcoin is fine as long as you're not trying to spend it. 

But then, if we're not spending it we can't make case that Bitcoin Cash needs to exist - bringing its entire value into question.   Its a messy value analysis when you take all of these claims into account.

So - which is it? Or how do you rationalize saying both "it's great because you can spend it" and "save it and you'll become rich" at the same time?

Share your thoughts with us on Twitter @TheCryptoPress

Author: Ross Davis
E-Mail: Twitter:@RossFM

San Francisco News Desk

VOTE NOW: Can Bitcoin Still End 2019 Above $10,000?!

There's barely over a month left in 2019, can Bitcoin still break $10,000, as so many predicted?

Cast your vote in our poll on Twitter...
Click here if poll isn't loading...

Mike Novogratz On The Bad News Behind This Week's Slump - And The Good News That Will Pull Us Out Of It...

Michael Novogratz, Galaxy Digital CEO discusses Bitcoin's recent price movement, the challenges major tech companies like Facebook and Telegram are facing from regulators, and the big developments on the horizon that should renew excitement to the market following this week's slump.
Video Courtesy of CSPAN

Bitcoin Loans, And The Shocking Number Of Crypto Traders Who Don't Know How To Take Advantage Of Them...

It honestly surprises me at this point when I hear someone who's generally deeply involved and invested in the crypto world, and they've sold their coins instead of kept them by using them to get loans when they needed money.

For some perspective, on a 6 month loan you would have taken it out with Bitcoin in the $5000's.  Depending on how much cash you took out and spent, Bitcoin trading in the mid $8500's today means if you took out $3000 USD, your loan could already be fully paid off just by the increase in bitcoin's value - now your loan is paid back, AND you get all your crypto back.
Oh, and I should probably mention - it's all tax free!  A loan is not considered income in the vast majority of countries.

Someone please explain to me - why isn't everyone doing this?

Curious, I browsed several crypto themed online communities trying to gather what some misconceptions may be.  I spotted many people seeking a bitcoin loan shark, or try to get a bitcoin loan without collateral.   Well, that won't happen, there's no anonymous bitcoin loan or way to get an instant bitcoin loan from someone offering one when you have no collateral.

There is instant bitcoin loan verification however - moving into 2020 the number lenders to choose from is growing fast. 

Also growing in popularity - people getting a loan to buy bitcoin, with bitcoin!  It's a trick those who use generally keep quiet about.

While you'll never find crypto loans without collateral, there's so many quality crypto lending platforms you don't need to worry about putting the collateral up.   Because of smart contracts and blockchain, there's no such thing as an 'unsecured crypto loan'.

However, the thing that shocks people who have taken out loans, or earned interest on funds they lent out - the flexibility in the crypto loan world.

No penalties for paying a loan off early, and in most cases if you're doing an interest earning program - the profits become available every month!  No waiting for an investment to 'mature' - you get paid as you go.

As for where to start, we currently recommend:

If you're outside the US: YouHodler.

Inside the US: BlockFi.

Both have solid reputations, and enough past/present users that we've heard a lot of feedback 

Author: Matt Miller
London News Desk - A Partner Site of The Global Crypto Press

Is Wall Street Finally Learning Not To Panic Over Crypto Market Volatility? Recent Price Dip Has Bloomberg saying "Buy!"...

We're still getting used to Wall Street becoming crypto fans - until recently, a week with a $2000+ dip in Bitcoin's price would only be mentioned as an example of why they avoid the crypto market.

But now, it earns Bitcoin the title of this week's "Hot Trade" - with Bloomberg advising investors that it may be an optimal time to take a long position.

In other words - buy the dip, then HODL!

Kim Dotcom Is On The Verge Of Launching His Crypto-Powered, Censorship-Free, Decentralized Platform That Monetizes Your Content...

Called "KIM" and found at the easy to remember address, the project is headed by Kim Dotom - the man who became a target of large entertainment companies and governments with accusations of countless copyright violations.

However, he never uploaded any pirated content - users of his site "MegaUpload" did. But those who wanted the site taken down insisted simply owning the massively popular file sharing website made him liable.

For perspective; none of today's social networks would be able to function if held to these standards - they likely host millions of copyright-violating files between video, images, and music.

Bitcoin Billionaire Leaps from Balcony to Avoid Robbery...

A Norwegian billionaire and owner of a cryptocurrency company, jumped from a second-floor balcony in Oslo, Norway, after an attempt at armed robbery, reports Norway's TV2.

Before the attempted robbery, the victim allegedly boasted of having "made a fortune by investing in bitcoin and other cryptocurrencies" online.

The police report says the perpetrator knocked on the door of the victim's apartment, when the door was answered he was immediately held at gunpoint.

The incident is the latest in a series of cases involving criminals with a new target - a wealthy person's private keys.

In 2015, a New York City firefighter was stabbed by thieves who demanded that he hand over his private keys. Two years later, kidnappers in Ukraine got more than a million dollars , after successfully using a ransomware against a cryptocurrency analyst.

Earlier this year, three robbers disguised as police officers entered a victim's house in the Netherlands, and tortured a man with a drill in an attempt to gain access to his crypto. The one-hour torment took place in front of his four-year-old daughter, but in the end was unsuccessful.

Author: Mark Pippen
London News Desk

Artist Turned Bitcoin Whale, As 19 Paintings Sell For 490 BTC!

UK Artist Lincoln Townley has been called "next Andy Warhol" and his paintings have sold to superstars like Al Pacino, Ronaldinho, and Sting.

He isn't new to Bitcoin either, he's actually the first (well known) artist to accept cryptocurrency for an expensive piece, recieving 40 BTC for 1 painting in 2017.

But his latest sale makes that one look small by comparison, selling a collection of 19 paintings for 490 BTC - worth nearly $5 million!

It's not just a gimmic either, he considers himself a member of the cryptocurrency community - and he's HODLing, sharing his belief in Bitcoin's long term growth, Townley says "I think there is a huge market for expansion, with it being something that is going to inflate in value."

See his work at

Author: Mark Pippen
London News Desk CEO and Cryptocurrency Advocate Resigns - Says Corrupt FBI Agent Tricked Him Into Espionage Against Trump, Clinton....

[Breaking story, still developing] - Today CEO Patrick Byrne resigned, claiming the scandal he's about to expose will make him a target, and that he doesn't want them to 'bring down the company with him'.

The vague details he's given so far begins with him receiving instructions from now fired FBI agent Peter Strzok, a name many will recognize as the agent who's text messages were exposed, and in them he talked about having an 'insurance policy' to prevent Donald Trump from being elected.

However, Byrne claims the operation he was involved in targeted multiple candidates from both parties, including Hillary Clinton, Donald Trump, Ted Cruz, and Marco Rubio.

Somewhere in all of this, is a Russian agent Byrne was romantically involved with in the past, and was asked if he could 'rekindle' the relationship with her.

"The instructions came from the top" he added, when asked if he meant the Obama administration, he says yes.

The Trump Justice Department currently has an investigation underway into FBI actions during the Obama adminstration. He says Trump's attorney general has been given detailed information.

Byrne says he will be releasing full details online soon.

Under his leadership, was considered the first 'major retailer' to accept cryptocurrency.

It's Been A Big Week For All The Satoshi Nakamotos! As One Visits Believers Around the World, A Brand New One Surfaces...

There's a lot going on in the Satoahi Nakamoto cosplay world.

Yesterday, another surely mentally stable character stood up and claimed the title of bitcoin's creator - exciting because it's been awhile since we had some freshly baked Nakamoto! 

The big reveal began with 'teasers' starting a few weeks back, followed by 3 days of extra hype, ending with the name announcement...

It was none other than James Bilal Caan! Well, now it all makes sense!

Just kidding, I have no idea who he is either, but imagine our luck - he has something to promote!

"Satoshi Nakamoto Renaissance Holdings" is ready to provide 'industry-leading Blockchain products and services' which at first sounded extremely vague, then I thought... if anyone can do it all, it's Satoshi!

Before you go asking why a billionaire like Satoshi is now available to hire, you need to understand everyone makes mistakes, and on that note 'oops' - he lost the hard drive containing the keys needed to access the approximate 1 million BTC.

I really doubt we'll be hearing much from Caan in the future, by any standard this publicity stunt was a flop, it would be too sad to watch if they try to drag this on any longer.

To me, there is only ONE real fake Satoshi...

I don't even need to say the name - that's how official it is.

Imposers like Caan aren't even worth a second of his time, as he traveled around the world to meet some faithful believers in Colombia.

Check out this totally not-creepy video of the one and only, mingling with fans...

If at first you don't succeed, try a 3rd world country where about half the population doesn't have a high school education.

But seriously, here's what it comes down to...

I love this stuff, and god bless Craig, and even the new guy who's name I already forgot.  You can't put a price tag on entertainment like this.

But while some people make jokes, and other people argue the technical aspects of someone proving they're Satoshi, debating if Craig's best evidence is just forged backdated PGP keys, etc - I will forever be hung up on one simple factor...

How did Satoshi apparently go through the biggest personality transformation I've ever seen in a person?

Anyone can look back at the e-mails exchanged during Bitcoin's creation.  As the real Satoshi took on building such a complex system from scratch, which no doubt was full of frustrating moments - he remains calm, cool and collected.

There's so many examples of the real Satoshi's communications you can get a feel for how he conducts himself - he's never over-emotional, always rational,  not impulsive, or vulgar, or angry -even at high-stress moments most coders would be.

It's not surprising these unique traits created something equally unique.

So don't tell me it turns out this whole time he was really just another easily-triggered spotlight-loving attention whore, always ready to give a big "f*ck you" to anyone who disagrees with them.

I'll also add, to be fair - while i'm convinced Craig isn't Satoshi, he's also not a lot of the things his opponents say. Anyone saying Craig is 'stupid' or 'an idiot' is lying as well. 

Obnoxious? Yes. Stupid? No.

This isn't my first role in media, at one point I worked for the largest broadcasting company in the nation, I say this because I saw the same thing there, that we're seeing here.. often.

A dark side of human nature can drown out that voice inside saying 'you're taking it too far', suddenly a talented person who made real contributions to a project becomes overwhelmed with the desire to take full credit for it.

That's why, for me personally, until I see some transactions on the blockchain from a wallet belonging to the real Satoshi, i'll consider those claiming to be him 'for entertainment purposes only'.

Who do you believe is the real Satoshi? Do you hate that this is even being debated? Or, like me, do you appreciate the endless entertainment it's provided us?  Tweet us your thoughts @GlobalCryptoDev
Author: Ross Davis
E-Mail: Twitter:@RossFM

San Francisco News Desk

US Crypto Traders - 
Claim Your $25 BTC...

Stocks Down, Crypto Up?

Bitcoin has proven this theory over a dozen times already in 2019 when a rough day for the traditional markets were met by bull runs of some of the top cryptocurrencies. 

But with an asset as new and unpredictable as Bitcoin, this will need to stay true for bit longer to really convince traditional investors that this is a reliable hedging method, like it is with gold.

Gold which has skyrocketed even in the worst, long term economic recessions, while cypto has only proven itself as something to turn to for relief on a bad day.

However, one advantage over gold is emerging - when stocks go up, Bitcoin appears to be unaffected, while gold typically declines in value when the rest of the economy is doing well.

While crypto is looking like the perfect hedge for short term investments, the big question remains - would people really turn to crypto in a serious economic downturn, one lasting months or longer? Or, is what we're seeing only because the bad days on Wall Street really aren't that bad?

Still, even if investors wouldn't turn to crypto to get through a bad year, if it continues to help them get though bad days, we can expect a lot more to begin implementing this strategy! 

Video courtesy of CNBC