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Market Research Firm Fundstrat Adds Bitcoin As An Official Payment Method

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Fundstrat Global Advisors, which is a major market strategy and research provider recently announced that the platform will start accepting Bitcoin (BTC) as a means of payment for its content – all through Bitpay.

As the official press release stated, Tom Lee’s Fundstrat has added Bitcoin payments to its platform via the operator BitPay which processed more than $1 billion in Bitcoin payments last year.

The new feature is great for institutional investors, individual high-net-worth individuals, and financial advisors. It will allow everyone easy access to Fundstrat’s reports on different financial sectors.

As the Chief Commercial Officer behind BitPay Sonny Singh stated, the addition of Bitcoin for Fundstrat will enable a global client base from everywhere – including Asia, Africa, and Latin America. This, as he said, “has been nearly impossible before” to access the firm’s content.

The co-founder of Fundstrat and head of research, Tom Lee, is one of the ‘Bitcoin bulls’ and long believers in crypto. When asked for a comment on the recent news, he said that accepting payments in BTC via BitPay makes the process “considerably simpler, faster and less expensive.”

Earlier this year, Lee said that Bitcoin could reach to anywhere between $22,000 and $25,000 by the end of 2018 – a statement which he reiterated in July this year, clarifying that his prediction is still not a bearish setback for his previous forecast of $25,000.

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Analysis

Bitcoin (BTC) Price Holding Onto Crucial Support Levels: An Increase Is Likely

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bitcoin (btc) price
The Bitcoin (BTC) price has been a major topic as featured on many best cryptocurrency news sites, especially because of its recent correction as well as its slight upswing over the past couple of days. Even though BTC managed to climb further above $5,300, it later on corrected to $5,250 which is its current price agains the US dollar. There was a break below the ascending channel and the Bitcoin (BTC) price found support at $5,250 on the hourly chart. The pair is still trading nicely. It all began yesterday when we saw a steady rise above $5,260 and $5,280 for Bitcoin, where a new weekly high was formed at $5,327 before the price started its downside correction. There was also a break below the $5,260 support and the 23.6% Fibonacci retracement level showed a wave from the $5,018 low to the $5,237 high. Since the Fib wave is high, the Bitcoin (BTC) price remains well supported above the $5,170 and $5,180 levels right now. Only a close below this level and the 100 hourly simple moving average could right now start a major decline in the near term. According to prominent analysts, the latest cryptocurrency news estimate a solid support for Bitcoin with a possible price increase over the next few days. Looking at the chart, the Bitcoin (BTC) price is clearly well supported which means that it is very likely for it to bounce back above $5,300 in the next few hours. Conversely, a close below the $5,160 support level may also trigger a drop to $5,090 or even $5,020. Technical indicators:
  • Hourly MACD – The MACD is most likely moving back in the bullish zone in the near term.
  • Hourly RSI (Relative Strength Index) – The RSI for BTC/USD has changed hands with 40 and it is currently moving higher towards 50.
  • Major Support Levels – clearly the Bitcoin (BTC) price of $5,200 was followed by $5,160.
  • Major Resistance Levels – now, they are set at $5,260, $5,300 and $5,330.
Over the past couple of days, there were many reports and an analyst showing his opinion that the next bull run may be a several magnitudes bigger. However, these are only speculations from pro-Bitcoin analysts. The current indicators are as above mentioned. The big question is...Will we see a Bitcoin (BTC) price breakout soon?
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Altcoin News

Bakkt Exchange Eyeing A New York License Following Launch

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bakkt exchange
The Bakkt exchange is in the coming altcoin news for its decision to pursue a New York License from the owner of the New York Stock Exchange (NYSE), Intercontinental Exchange (ICE). The NY license will aid Bakkt and its long-delayed crypto exchange. Knowing that the launch of the Bakkt exchange has been held up for five months now, reports showed that most of the delay lies in the difficulty of obtaining the Commodity Futures Trading Commission (CFTC) to approve it to custody Bitcoin for its planned and physically-delivered futures contracts. ICE would apparently need a license from the New York Department of Financial Services (NYDFS) as a possible solution according to a Bloomberg report. For those of you who don't know, such physically settled contract would mean that buyers would receive the actual commodity - Bitcoin - at maturity. Right now, the CFTC is concerned over the issue of safeguarding clients' Bitcoin which is linked to Bakkt exchange and its future product. Thus, a state license will definitely help Bakkt to cut through its reservations, as the report shows. The exchange may also be moving to enable retail transactions using BTC for firms such as Starbucks (which is a Bakkt investor) as the best cryptocurrency news sites reported. Right now, if ICE is ready to pull off the New York registration for the Bakkt exchange, it might also allow CFTC to issue its futures by self-certification and in that manner sidesteep the regulator's requirements that client funds are deposited in either a bank or a trust company. However, even if they manage to obtain the license and custody crypto in the New York state, the Bakkt exchange would still need a green light from the CFTC over its wider operations, as reports show. ICE planned to launch Bakkt in mid-December, but the deadline was moved to January 24 later on. Then, on New Year's eve, the big day was again delayed indefinitely, and ICE said that the January target "will be amended pursuant to the CFTC’s process and timeline" which means that the Bakkt exchange is still waiting for regulatory approval. As the latest cryptocurrency news show, Bakkt is continuing to build out its product and systems, without putting an accent on the license.
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Altcoin News

South Korean Exchange Coinnest Announces A Shutdown

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south korean exchange coinnest
The popular South Korean exchange Coinnest is in the latest cryptocurrency news on our website for its apparent decision to close its offices and put an end to its operations. As an official notice on its website read, as of Tuesday the exchange will not be operating anymore. The users will need to withdraw the funds held on the platform by April 30, while the fees for withdrawals and the minimum threshold have been lowered in order to assist the process, as the notice said. The South Korean exchange Coinnest also had an official to report the news and provide the reasons for closure. According to him:
“It is a natural result of a decrease in trading volume. Both regulatory issues and business decisions have served as a background for this decision. The cynical nostalgia and passion alone can not cope with the changes and movements of the cipher and block chain industry measured at this time."
According to an official, the South Korean exchange Coinnest and its closure comes as a result of a decrease in trading volume, regulatory issues and business decisions. All of these factors have served as a background for this decision. As reported in the altcoin news section of many crypto news sites, the decision comes after a bad year for the exchange. One year ago, an executive of the firm was arrested on suspicion of fraud and was later convicted, being jailed and having to pay a 3 billion Korean won (approximately $2.5 million USD) fine. The South Korean exchange Coinnest also lost more than $5 million in a mistaken airdrop this January, which piled up to the bad news for the firm. As soon as that happened, the firm revealed that Bitcoin and other altcoins were sent to customers due to a computer error. Since then, the exchange had been trying to distribute We Game Tokens (WGT) to repay for the lost funds because of the incident. As reported by many best cryptocurrency news sites before, Coinnest was also once the third largest cryptocurrency exchange based on the domestic volume and was a popular name on the South Korean market.
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Bitcoin News

Dark Web Drug Dealers Indicted After Laundering $2.3 Million In BTC

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dark web drug dealers
Dark web drug dealers were indicted by the Manhattan District Attorney’s Office for laundering more than $2.3 million in crypto. The three men were charged for using debit cards loaded with bitcoin and withdrawing huge amounts in cash from New York ATMs. For more information, let’s follow the latest altcoin news below. The three dark web drug dealers were charged with operating bogus storefronts for selling illegal drugs, mainly Xanax tablets according to the DA’s office. Chester Anderson, Ronald MacCarty and Jarrett Codd are the three dark web drug dealers who got charged with multiple felonies including identity theft, sale of controlled substances, money laundering and much more. The Manhattan District Attorney Cyrus Vance says that this action is one of the largest pill seizures in the history of the city. The law enforcement also managed to seize thousands of dollars in BTC but also fentanyl mixed with heroin, ketamine, meth and alprazolam tablets. The authorities say that the drugs found were stored in orange buckets and were valued at $3 million if the dark web drug dealers managed to sell them on the internet. The District Attorney Cyrus Vance stated:
 “If you are engaging in illicit activity on the dark web, you are on notice: We know how to find you. We know how to put you out of business. And we know how to hold you criminally accountable.”
One of the three dark web drug dealers Ronald MacCarty used a bitcoin machine as the best cryptocurrency news sites reported, and owned a sham drug ship in New Jersey. The other defendant Chester Anderson kept a collection of crypto books at his home. They managed to launch the operation in 2016 and the law enforcement got their heads in the game in 2017 after an anonymous tipster. The bust operation was coordinated with the Operation Crypto Sweep that was launched in 2018 by the US and Canadian regulators. As the latest cryptocurrency news reported, the North American Securities Administrators Association sent 70 cease-and-desist orders to operations of fraudulent crypto companies across the United States. Dark web drug dealers and other crypto criminals got a warning from the NASAA:
 “Crypto-criminals need to know that state and provincial securities regulators are taking swift and effective action to protect investors from their schemes and scams.’’
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