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Bitcoin News Summary – September 16, 2019

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The post Bitcoin News Summary – September 16, 2019 appeared first on 99 Bitcoins. Here’s what happened this week in Bitcoin. ??????? Bitmain opened sales for its new Antminer S17e and T17e Bitcoin mining ASICs this week. The first batch was quickly sold out. The units are said to achieve high efficiency with max hash rate of 64 Terahash per second but cost up to $2700. Crypto payment service [Read More...]

Facebook Libra and Calibra in a clear good cop, bad cop routine?

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Facebook Libra and Calibra wallet that goes with it have undoubtedly faced more opposition and controversy than any other stable coin and that too before it is even launched.  From the United States government to international banking organizations and the G-7 countries have mostly been critical of the stable coin being launched by Facebook Inc, […] [Read More...]

Bitcoin Price at 35% Premium to “Fair Value”; Will BTC Return to $7,500?

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Over the past week, Bitcoin (BTC) has managed to embark on a strong recovery, gaining some 10% after a brutal drawdown to $9,300. Despite this, one indicator says that the cryptocurrency is still well overvalued, potentially by upwards of 35%. But does that mean Bitcoin is going to fall to its “fair value”? No, unlikely not. Here’s why Bitcoin Price Above “Fair Value”  Due to the fact that Bitcoin doesn’t generate cash flow, provide dividends, have a fixed yield, or abide by any other traditional instrument’s premise, investors have long struggled to fairly value the cryptocurrency. Related Reading: Inverse Bitcoin Price to Yuan Correlation Sets a New Record The best idea so far has been to give Bitcoin a “fair value” … [Read More...]

Analyst Claims Bitcoin Drop Towards $7,000 Highly Probable

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Bitcoin and the aggregated crypto market incurred a sudden influx of buying pressure late-yesterday that allowed most major cryptocurrencies to post some decent gains, although these were largely erased overnight as BTC dropped back down towards $10,400. Bitcoin’s consistent ability to post strong bounces with each visit into the $9,000 region certainly provides some justification for a bullish outlook on the cryptocurrency, but one analyst is now pointing to the existence of a large falling wedge, which may mean that BTC will drop as low as $7,400 before positing a sustainable rally. Bitcoin Fails to Rally Overnight At the time of writing, Bitcoin is trading up nominally at its current price of $10,440, which marks a slight rise from its 24-hour lows of below $10,400, but … [Read More...]

Incoming European Central Bank President Is Open to Cryptocurrencies

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Christine Lagarde, who has been nominated by European governments to replace sitting European Central Bank President Mario Draghi, appears kinder to the burgeoning cryptocurrency industry than her predecessor. In a statement issued to the Economic and Monetary Affairs Committee of the European Parliament, the former managing director of the International Monetary Fund laid out her guiding philosophy and game plan for how she will govern if her nomination is ratified. A Crypto-Friendly Statement In the speech, the EU Central Bank’s nominee briefly touched on the topic of innovative technologies, including cryptocurrency. And her touch was gentler than most. “In this environment, central banks and supervisors need to ensure the safety of the financial sector, but also to be open to the opportunities provided by change,” … [Read More...]

“Ledger of Szabo” Brings Bitcoin Compatibility to Zelda-Style Game

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“It’s dangerous to go alone. Here, take this.” Thus begins the latest computer game from crypto-focused gaming company Blockade Games. “Just kidding! You must start your journey with nothing!” recants a wizard-turned-demon as you attempt to collect your would-be first weapon in the game, a fork, in an abandoned cave. This is how you embark on your journey in the “The Ledger of Szabo”: with nothing and no particular direction. The game’s initial interaction — as its name and gameplay would suggest — is an overt homage to “The Legend of Zelda,” the flagship game of the eponymous franchise which was released on the Nintendo Entertainment System in 1986. Thirty-three years later, its style and vibe are replicated and repurposed … [Read More...]

The Eureka Network to Launch Upgraded High-Liquidity Exchange and 300ERK Sign-up Bonus

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Bitcoin Press Release:  EurekaX is presently preparing to launch an upgraded version of the world’s most advanced cryptocurrency exchange, with a liquidity pool to compete with the likes of the biggest crypto exchanges. In addition to this, EurekaX are offering a significant giveaway of its native crypto, EurekaCoin (ERK), for all users who sign up before August 21st. 5th August, 2019, 2019, London, United Kingdom– Notoriously, cryptocurrency trading platforms have been plagued by the issue of liquidity. For the uninitiated, liquidity typically refers to the ability to readily convert a cryptocurrency without waiting too long for the trade order to be matched. High trading activity often means that buy and sell orders are likely to be fulfilled quickly, relieving a trader of the stress often associated with waiting … [Read More...]

XRP community divided over price: Why the so-called fork may NOT be a viable solution

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XRP community on Twitter distinguishes itself from the rest by the title bestowed upon it- ‘XRP army’; however, a troop from this army has shifted allegiance. Leading this faction is a Twitter user ‘Crypto Bitlord’, according to whom, he/she (they) act as the delegated spokesperson for a disenchanted and disillusioned camp. Bitlord’s first operation was […] [Read More...]

Bitcoin Loses Market Dominance As Alts Make A Come Back

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Bitcoin is seen to be losing market dominance as alts are trying to make a comeback from the shock they experienced as a result of the bearish movement which rode through the crypto markets last year. Some analysts believe that alts will make a comeback and resume a drastic bullish movement, rising alongside BTC. BTC […] [Read More...]