It May Take Bitcoin Until Q4 2020 to Break Into a Bull Market: Analyst

There have been many optimistic Bitcoin traders that have been expecting an imminent break into a bull market. Yet an analyst has said that it may be until the end of 2020 that the cryptocurrency markets enter a full-blown bull phase. Related Reading: Crypto Tidbits: Bitcoin At $9k, Grayscale Ethereum Trust, Cryptocurrency & PayPal Bitcoin May Have Months More of Consolidation to Go There’s no doubt Bitcoin’s volatility has tightened over the past few months. Despite the drop in March, on a macro scale, the leading cryptocurrency is actually in…

Transnational Cybercrime Group Co-Founder Who Amassed $568M Pleads Guilty

A Russian national behind the cybercriminal enterprise Infraud Organization has pleaded guilty on June 26 to racketeering conspiracy, due to his role as a co-founder and admin of the dark web-based carding portal which generated profits over $568 million. According to the announcement made by the U.S. Department of Justice, or DOJ, 33-year-old Sergey Medvedev, also known under the pseudonyms “Stells,” “segmed,” and “serjbear,” claimed responsibility for his role in the organization created in October 2010 by a Ukraine national, Svyatoslav Bondarenko. Medvedev pleaded guilty before U.S. District Court Judge…

Decred Co-Founder Calls PayPal and Crypto ‘An Odd Combination’

PayPal could be gearing up to work with crypto assets, according to recent rumblings, although Decred co-founder Jake Yocom-Piatt is unsure of those rumors’ validity. “It’s hard to say whether these are rumors or not regarding PayPal accepting cryptocurrencies soon,” Yocom-Piatt told Cointelegraph via email correspondence when asked about the rumors.  The pairing does not seem like a fit Recent news showed PayPal seeking to fill crypto and blockchain-related job positions, while rumors circulated of the platform listing crypto assets. Although the addition would bring digital assets greater availability, Yocom-Piatt added that the…

Bitcoin Price Bounce at $8.8K Support Shows Traders Keep Buying the Dip

Within the last hour Bitcoin (BTC) price dropped below $9,000 to a daily low at $8,813. Since June 24 Bitcoin price has been losing momentum while pinned below the 20-MA and today’s drop to $8,813 coincided with a surge in sell volume.  Crypto market weekly price chart. Source: Coin360 As discussed in previous analysis, buyers have been keen to purchase every dip below $9,000 and today’s drop brought the price near the edge of a key high volume VPVR node at $8,800.  BTC USDT daily chart. Source: TradingView If bears…

New Research Shows Massive Internet Spying, Several Crypto Sites Listed

A mammoth global spying and data theft effort currently leaves web surfing citizens at risk, with several Bitcoin and crypto domains included in the mix, according to research from Awake Security.  At the heart of the problem — a web domain registration company named CommuniGal Communication, or GalComm. “Of the 26,079 reachable domains registered through GalComm, 15,160 domains, or almost 60%, are malicious or suspicious,” Awake wrote in a June 18 blog post.  A list of sites at risk Although the nefarious movement uses several different methods, including malware, such activity…

$20 Million in BitMEX Longs Wiped as Bitcoin Crashes Below $9,000

After weeks of consolidation, Bitcoin decisively broke below $9,000 just minutes ago. The cryptocurrency dipped as low as $8,840 on leading spot exchanges and slightly lower on margin-enabled exchanges like BitMEX. BTC price chart of the drop from TradingView.com This move caught many traders off guard, according to derivatives data. Skew.com reported that more than $20 million worth of longs on BitMEX alone were liquidated during this move lower. This adds to the approximately $50 million in longs liquidated earlier this week as the cryptocurrency slid from ~$9,400 to $9,000.…

Digital Currencies Debut Amid COVID-19

Famed currency speculator George Soros, who in 1992 broke the Bank of England to emerge a billionaire overnight by forcing the pound out of the European Exchange Rate Mechanism, believes: “We will not go back to where we were when the pandemic started. That is pretty certain. But that is the only thing that is certain. Everything else is up for grabs.” Giles Coghlan, the chief currency analyst at HYCM, had the following to say: “The volatile market conditions that have come about as a result of COVID-19 has investors…

BitFlyer Holds First Virtual Shareholders Meeting With Blockchain Voting App

BitFlyer Holdings, which runs one of Japan’s largest cryptocurrency exchanges, held its general shareholders meeting Friday and, for the first time, used a blockchain voting app. In the “new normal” where social distancing is required, blockchain technology finds another use case. The voting app, called bVote, was developed by BitFlyer’s subsidiary BitFlyer Blockchain. It allowed the first virtual shareholder meeting to end “as scheduled without any troubles.” The app prevents vote forgery and manipulation and requires users to scan their My Number card (similar to Social Security Number in the…

Crypto Lending: The Ultimate Killer App?

Crypto lending, one of the fastest-growing industries in the blockchain ecosystem, has made it possible to earn yields and borrow capital using digital assets. According to a report by research company Credmark, the volume of crypto-backed loans increased seven-fold in 2019, ultimately reaching $8 billion. Experts speculate that crypto lending will attract more investors into the crypto market by increasing its liquidity. “You can think of lending as this incredible grease that just pushes everything forward at a much faster rate”, states Paul Murphy, CEO at Credmark. However, lending and…

Cryptocurrency News From Japan: June 21

This week’s headlines from Japan included SBI announcing a digital asset investment fund, Bitflyer Holdings using blockchain for shareholder meeting voting, Japan’s Financial Services Agency warning two unregistered crypto exchanges, a Japanese digital asset exchange self-regulatory group changing chairmen, and Coincheck announcing launch details for its digital shareholder meeting platform.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. SBI unveils a crypto investment fund As an option for individual participants, Japanese financial services entity SBI Holdings expects to form and open Japan’s first…