Bitcoin Eyes Crash Towards $6K as Market’s Distress Grows

Bitcoin opened on a faint note this Monday as the market showed a lack of sense of direction owing to low volatility. The world’s leading cryptocurrency was trading at around $7,575.27 as of 1429 UTC after rising by 0.8 percent since the market open. The move upside brought the asset’s net month-to-date gains up by 0.4 percent. It additionally revealed traders’ fear of making big moves after bitcoin established its seven-month low in November, followed by an alarming pump-and-dump behavior on spot exchanges in the first week of December. The…

MARKETS DAILY: Casualties Ahead in the Cryptocurrency Mining Arms Race

Disclaimer Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it…

CryptoBridge Decentralized Exchange Shuts Down Citing Regulations, Markets

The decentralized cryptocurrency exchange (DEX) CryptoBridge announced that it is closing down in a message on its website. In the announcement, the exchange warns users that all of the firm’s services and servers will terminate after Dec. 15. Users will be able to withdraw funds from the exchange until the last day of operation, but deposits will be closed after Dec. 3. The announcement reads: “Please note that user verification is required by EU law for all withdrawals. We highly recommend that you start the process as early as possible…