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Crypto/Stock Trading App Robinhood Is Eyeing An IPO

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One of the most popular crypto trading apps and mobile investment platforms, Robinhood, is now ready to lift itself through an initial public offering (IPO). After launching as a zero-commission cryptocurrency trading service earlier this year, the startup is now searching for a chief financial officer (CFO) that would take the company to new heights.

The CEO of Robinhood was first to announce this while speaking at a TechCrunch even on Thursday this week. The CEO, Baiju Bhatt, revealed that Robinhood is “actively looking for a CFO” and going public is “definitely” the company’s plan in the medium to long-term.

As he stated:

“Being a public company I think aligns very closely with our mission as well. And it’s definitely on the horizon, not in the immediate term, but that’s something we are thinking about.”

Bhatt also said that as a financial service company, everything is being audited by financial regulators in the US such as the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority.

Meanwhile, in May Robinhood announced that it raised $363 million in a Series D round funding led by DST Global and Sequoia Capital, which valued the firm at $5.6 billion. This made Bhatt believe that the company could easily “become either the largest or one of the largest crypto platforms out there” by the end of this year.

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Altcoin News

Bitcoin Takes A New Beating, Goes Below $4,500 As Market Loses $25 Billion

It seems like the downward trend for Bitcoin is continuing day after day. This Tuesday, the market just wiped out another $25 billion in a new major sell-off that is viral in our crypto news section. Over the past 24 hours, Bitcoin has lost about 14% of its price, while Ethereum lost 14.5%. Bitcoin Cash was the biggest loser again, losing 45% from its value and Stellar (XLM) followed with 10% losses accordingly. As expected, Bitcoin Cash dropped the most because of its hard fork and the quick sell-off that it triggered over the past few days. The newly produced versions of Bitcoin Cash (BCH), Bitcoin Cash SV (BCHSV) and Bitcoin Cash ABC (BCHABC) also suffered losses. While BCHSV fell from $170 to $60 in a three day span, BCHABC fell from around $450 to $270, almost splitting in half. The current market conditions are quite gray - mostly because of the intensity of the drops over the last 24 to 48 hours. A couple of days ago, Bitcoin was trading near $7,000 and today we are noticing a downward trend that may lead the most dominant cryptocurrency even below the $4,000 support line - if this bearish trend continues. A sell pressure on the other altcoins could also intensify in the days to come - pushing BTC, ETH, XRP and BCH to even lower limits by the end of this year.
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Bitcoin News

BREAKING: Bitcoin Falls Below $5,000 With No Signs Of Support

In the latest Bitcoin news, we are reporting a new massacre and a massive loss in the price of Bitcoin which today fell below the $5,000 margin. After hitting an all-time high and trading at around $20,000 in December 2017, a year afterwards we see the largest and most dominant cryptocurrency in shock. The BTC/USD index is now at 4886-fiat and the price of Bitcoin has recorded a loss of more than 11% and the price action bled through crucial support levels that had a history of reversing bearish trends. Obviously, the Bitcoin Cash hard fork has set the market on fire and big mining pools jockeyed to decide the fate of the BCH protocol. Currently, mainstream media is also promoting a negative side of Bitcoin. For example, a recent report from Bloomberg predicted that Bitcoin would bottom out at near $1,500, and many analysts also slashed their predictions for the most dominant cryptocurrency. Meanwhile, it seems like the US Dollar is also taking a beating - as it sled down to a two-week low compelled by the negative comments from the Federal Reserve. While a bearish dollar like this could prove bullish for stocks and commodities, its impact on Bitcoin  would definitely be a thing to watch out for in the months to come.
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Altcoin News

Bitcoin, Ripple And Ethereum Are Getting Hit (Again) This Monday

In today's cryptocurrency news, we have a new hit on the market especially for the cryptocurrencies including Bitcoin, Ripple and Ethereum which are all getting hit and have fallen again over the past 24 hours. Bitcoin is the first one to take a beating, falling by 4% and now trading at $5,334 while Ripple, which is now the second largest cryptocurrency by market cap, has dropped by more than 6% and is now trading at $0.47. Ethereum, has fallen by more than 11% and is now trading at $156, according to data from CoinMarketCap. It seems like the Bitcoin Cash hard fork has had a major effect on the prices of cryptocurrencies. Blamed last week for the initial sell-off, it managed to wipe billions from the market and led many analysts to believe that the nature around cryptocurrencies is quite chaotic - especially when they are used as currencies and store of value. As a result, the top cryptocurrencies have been dropping in what's named 'the civil war of crypto' because of the fork, which led to smaller cryptocurrencies splitting again in two last week - resulting in the creation of Bitcoin Cash ABC (BCHABC) and Bitcoin SV (BCHSV). No one knows if this bearish trend will continue. According to analysts, it is more than likely for the prices to remain the same and drop until 2019 - and currently, a breakout scenario is far from reach.
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Analysis

Analyst Believes That Bitcoin Is Expected To Bottom Out In Q2 Of 2019

Willy Woo is one of the most popular Bitcoin analysts out there. In a market that seems very negative, Woo was asked a lot of questions about the potential of Bitcoin in the future. His answers easily went in the daily news section of our DC Forecasts Bitcoin news site. We are listing them below. When asked about the potential indicators of the future, Woo who is the founder of Woobull.com, said that there is a bearish short-term trend that is present for Bitcoin and the entire crypto space in general which typically indicates a sell signal. As he said while explaining the signals for a bearish trend:
“This last reading of our blockchain and macro market indicators is still in play. What has changed is that NVTS has now broken its support, typically a sell signal. All our blockchain indicators remain bearish. NVT, NVTS, MVRV, BNM, NVM. They are experimental but have served to make very correct calls to date, even when traditional on-exchange indicators were reading to the contrary.”
According to Woo, Bitcoin may enter an accumulation phase which is what could give it a push for a new upward trend.
“Putting together the blockchain view, I suspect the timing for a bottom may be around Q2 2019. After that we start the true accumulation band, only after that, do we start a long grind upwards,” Woo was confident.
He also explained that if Bitcoin bounces in the short-term (which is a possibility) and surpasses the $7,000 mark, a bull run before the Q2 of 2019 can happen.
“If price (in the short term) bounces upwards here, which is certainly possible, I think the 200 day moving average is the upper band of the move. This is around $7,000 right now. Remember if price goes above the 200 DMA, in the history of BTCUSD’s 8 year trade history, it’s been a reliable indicator of bear to bull transitions. It’s too early to transition out of the bear,” he concluded.
Still, Bitcoin (BTC) is struggling to break out of the $6,800 resistance level and is keeping at the same situation for the past three months. A breakout above $7,000 is even more difficult with the current market conditions.
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