Just hours after short positions on Bitcoin eclipsed longs, and as BTC shorts volume reached an all-time high, Bitcoin saw an explosion, appreciating over US$900 in under an hour, a growth of 13%. Since the pump, global cryptocurrency markets have risen over 10%, to just under US$300 billion. Speculators overwhelmingly agree that the cause for such a price movement was a textbook short squeeze. A short squeeze occurs when a sharp price movement forces the liquidation of short contracts, causing each losing trade to market buy their position. As a result, these market buys further push the price upwards, causingPowered by WPeMatico
A lot of people are keeping a close eye on the Golem project. It is a pretty interesting concept which aims to become the Airbnb for computers. Doing so will require a proper infrastructure to accommodate demand and distribute computing resources. The project has now entered the beta testing phase and has been officially launched on the mainnet. The Golem Project Continues to Evolve As is always the case with projects which raise money through initial coin offerings, expectations are pretty high for Golem. Its ICO was quite successful, although it has taken a while for most people to try this technology themselves. That long
Cryptocurrencies continue to make inroads in many industries. Ayr United FC, a football club in the United Kingdom, recently announced a new sponsor deal. While this may not be out of the ordinary, the team will play with a “Bitcoin BCH” logo on their shirts for the upcoming season. That is a pretty interesting development that will bring more mainstream attention to Bitcoin Cash. Ayr United and Bitcoin Cash On paper, it sounds like a smart idea to bring more positive attention to cryptocurrencies through sports. This is especially true when it comes to some of the more popular sports like soccer, basketball,
Even though everyone is entitled to their own opinion on Bitcoin and cryptocurrencies, it seems there is growing negative sentiment. More specifically, some experts are claiming Bitcoin will become irrelevant in the near future. That is a remarkable opinion, as the correlation between Bitcoin and other cryptocurrencies has never been more apparent. Can Bitcoin Remain Relevant? Given the issues we have seen with Bitcoin over the past few years, it is only normal that people begin to doubt the long-term vision of this cryptocurrency. Scaling issues, high transaction fees, and overall price volatility make this particular asset far less appealing
Most people are aware that Backpage.com has been seized by the US Justice Department. This development has caused quite a stir, although a lot of unsavory evidence has surfaced in the past few days. It seems the owners of this platform have engaged in money laundering involving cryptocurrency. It’s not a positive development for this nascent industry either. The Backpage.com Plot Thickens What is happening to Backpage.com is quite interesting. After the website found itself in the crosshairs of the Justice Department, things have been unfolding at a rapid pace. With the website now being seized, it seems things will only continue to unravel from
Even though public interest in cryptocurrency is growing, it is not always for the right reasons. Criminals have taken a strong liking to crypto, especially when it comes to mining them with other people’s computer resources. It seems there has been a growing number of cryptocurrency mining-oriented Kodi add-ons. As such, the developers are cracking down on this activity and will remove all of these add-ons in the near future. Malicious Crypto Mining Add-ons for Kodi It is quite disconcerting that criminals are trying so many different tactics to illegally mine cryptocurrencies. We have seen an increase in malicious mining software,
Positive surprises are not all that easy to come by in the world of Bitcoin and cryptocurrency. This is especially true when it comes to the Bitcoin price, which is often making headlines for all of the wrong reasons. For some unknown reason, the Bitcoin price is rebounding pretty strongly in the past handful of hours. As such, we are now looking at a value of $7,769 for the first time in nearly two weeks. The Bitcoin Price may Have a Solid Run Throughout most of 2018, there has been no positive Bitcoin price momentum whatsoever. Most of the time
Urdubit, a leading Pakistani bitcoin exchange, has closed down permanently. The news came after the central bank of Pakistan announced a ban on dealings with cryptocurrencies. The trading platform urged customers to withdraw their funds “as fast as possible”. Its team confirmed on social media its operations had been suspended due to the prohibition of […]
Even though yesterday was a pretty eventful day for most cryptocurrencies, it seems the momentum remains pretty brittle. More specifically, we see the Bitcoin price going in the red again, although in far less spectacular fashion. One currency well worth keeping an eye on is EOS, as the EOS price is absolutely surging as of right now. The EOS Price Trend Remains In Place It is always interesting to see how particular cryptocurrency markets evolve. This is especially true given the most recent negative pressure we have seen affect all cryptocurrency markets. In the case of the EOS price, it
Bitcoin and cryptocurrencies are intriguing because they are very different from the traditional financial systems we use today. One particular subject people have pondered is whether or not bitcoin complies with the religious law that forms a part of Islamic tradition — otherwise known as Shariah Law. This week a microfinance firm based in Indonesia, Blossom Finance, […]