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Bitcoin News

Samsung’s New Flagship Phone ‘Galaxy S10’ Comes With A Cryptocurrency Key Storage

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The newest ‘Galaxy’ smartphone from Samsung is in the latest crypto news because of one feature that every Bitcoin and cryptocurrency trader will like – storage for private cryptocurrency keys. As the official press release announcing the new flagship phone notes, Samsung has already announced the launch of its new phone today in Seoul, San Francisco and London.

Named the Samsung Knox function, the press release notes the following:

“Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.”

Ahead of the release of the smartphone, there are other rumours pointed towards the phone’s possible configuration and support for cryptocurrency wallets and dApps. Last month, images surfaced and portrayed a “Samsung Blockchain Keystore” on the Galaxy S10. The reportedly leaked photos also featured an Ethereum (ETH) wallet option in the “supported cryptocurrencies” list.

Meanwhile, Samsung is not the only major smartphone manufacturer that has implemented crypto-related capabilities in its smartphones. In May 2018, HTC released what they called “the first native blockchain phone” – the HTC Exodus which supports Bitcoin and Ethereum blockchain networks and features Brave as its default browser.

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Analysis

Bitcoin Is At $4,001 – Finally Breaking Through The ‘Crucial Mark’ Again

For some, the Bitcoin news today show the dominant cryptocurrency as "stuck" in the $4,000 region. For others, Bitcoin is making a leap forward and rising in price. What's certain is that the crypto markets are experiencing a relatively quiet week as Bitcoin is trading sideways between $4,000 and $4,100. What's crucial is the fact that BTC is now over the $4k limit. However, the stability should not fool traders. According to analysts, BTC may drop in the near future as its upwards momentum starts to fade. In fact, if Bitcoin is unable to get more buying pressure as the markets head in the weekend, it is likely that it will drop back in the upper $3,000 region. Right now, Bitcoin is trading up less than 1% at its current price of $4,001. Throughout the week, it has established $4,100 as the resistance level and unsuccessfully attempted on multiple occasions to break above this price level. More importantly, Bitcoin has established $4,000 as a level of support and bounced after touching this price. The true test, despite this, is Bitcoin and its ability to advance above $4,200 which was the level established as a key resistance one last month. The current lack of momentum is negative. However, according to analyst, BTC is bearish only if the crypto begins tepidly moving towards the stronger resistance levels located above $4,100.
“If $BTC starts getting higher timeframe 4hr/1D closes below 3930, THEN I’ll consider being bearish short term. Unless you are a short term day trader flipping your outlook between 4400 and 2k after a red 30 minute candle isn’t too helpful,” an analyst named Luke Martin tweeted.
Historically, the crypto market has been prone to making big swings during weekend trading sessions - meaning that traders may gain more insight into where BTC could be heading over the next couple of days. Another popular crypto trader and analyst named The Cryptomist on Twitter, spoke about the possibility of Bitcoin dropping in the $3,000 region. As she stated:
“$BTC Mentioned couple days ago we will see movement for yesterday price action. We dropped and bounced of candle support as RSI support failed. We have 2-3 days to break this 4010 region resistance before we break this candle support and test target #1 at 3900 range.”
If the crypto drops below $4,000 it will likely be a strong psychological level of resistance which may prove to be difficult to break above.
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Analysis

Calm Before The Storm: Bitcoin Dominance Reaches Low Levels Similar To 2018

It seems like the Bitcoin dominance on the market has reached its previous position form a year ago in August. The Google trends data show that the interest in Bitcoin hasn’t been this low since 2018, April. Should we be expecting a massive bull run or the situation will stay the same? Let’s find out in our bitcoin news of today. BTC dominance is hovering about the 50% level. Bitcoin’s market cap is still the largest despite millions of dollars going into altcoins over the past year rather than Bitcoin. Users in the crypto community have noticed that lower dominance means a major bull run according to the data. In the first Bull Run, the data says otherwise. There is no single relevant information that the first bull run was initiated after a period of low dominance. The interest for the cryptocurrency dropped which made the huge investors dump and there is also no data that suggests that investors will come back. However, this could be a potential sign of warning that will scare everyone who is not a long time crypto trader or investor. The bull run that leads the price of bitcoin to reach $20,000 was a rare moment that made long-term investors put their funds somewhere else. One thing we can all be sure of is that there is not going to be a ‘’Bitcoin Killer’’ at least not in the near future. At the same time, smart contract platforms seem to be having a good time and investment products keep emerging on the surface. There are new projects launching every day and Ethereum is now becoming home to hundreds of tokenized projects and platforms. During the bull run, the demand for Ether increased rapidly but the long-term dominance of the cryptocurrency is just as questionable as Bitcoin’s. Currently, there is a lot more money going into Bitcoin nowadays and those will be filtered between people who invest for the first time or the HODLERS who just want to stay away from extreme volatility. In the long run, it’s not so crazy to think that Bitcoin might lose its position as the number one cryptocurrency but this won’t mean that the crypto has failed. The next bull run could be around the corner, let’s wait patiently and see what happens.
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Bitcoin News

BitMEX CEO Arthur Hayes: Bitcoin Will Test $10,000 In 2019

The CEO of Bitmex is making the Bitcoin news today with a statement in which he predicts that Bitcoin (BTC) will get back to the $10,000 price point this current year. According to Arthur Hayes who is the leading face at BitMEX, BTC could be bullish once again. Hayes shared his predictions in a newsletter that was published on March 22, stating that the market could recover in the early Q4 of 2019. As he revealed:
“The 2019 chop will be intense, but the markets will claw back to $10,000. That is a very significant psychological barrier. [...] $20,000 is the ultimate recovery. However, it took 11 months from $1,000 to $10,000, but less than one month from $10,000 to $20,000 back to $10,000.”
He also talked about the atomic swaps and distributed exchanges, the tracking of ICO tokens, the anatomy of the next global financial crisis and many other topics. In the report named "The Road To $10k" Hayes said:
"All is not lost; nothing goes up or down in a straight line. 2019 will be boring, but green shoots will appear towards year end. The mighty central bank printing presses paused for a while, but economic sophists could not resist the siren call of free money. They are busy inventing the academic crutches (here’s looking at your MMT), to justify the next global money printing orgy."
While pointing to the last quarter of this year as the crucial for BTC, Hayes concluded:
"Green shoots will begin to appear in early Q4. Free money and collective amnesia are powerful drugs. Also after two years of wage cucking, punters should have a few sheckles to rub together."
Earlier in March, BitMEX revealed that its own Ethereum Parity full note contained a "potential bug" and reported that the same node  “sometimes reports that it is in sync, despite being several hundred thousand blocks behind the chain tip.” The authors claimed that this bug could be exploited by an attacker in some cases, but that is "highly unlikely to happen." In another analysis, BitMEX revealed that the 2018 crypto bear market accounted for 54% of the losses as well as $1.5 billion worth of transfers to external addresses and other factors that have brought projects' holdings down even further.
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Analysis

Bitwise To SEC: 95% Of Volume On Unregulated Exchanges Is Suspect

A new analysis by Bitwise tells that 95% of the volume on unregulated exchanges selling Bitcoin (BTC) seems to be fake or without any economic value in nature, as the latest digital currency news show. The cryptocurrency index fund provider Bitwise Asset Management came with the data, arguing in a report that is dated March 20th. Bitwise reported the data to the US Securities and Exchange Commission (SEC) as part of the proposed rule change for its application to launch a Bitcoin (BTC) Exchange Traded Fund (ETF). As the analysis opens, there is around $6 billion in daily traded volume for Bitcoin across the spot markets. It further claims:
“Under the hood the exchanges that report the highest volumes are unrecognizable. The vast majority of this reported volume is fake and/or non-economic wash trading.”
Bitwise sources its data from the widely known statistics tracker CoinMarketCap (CMC) which claims to include a large amount of this suspect data, “thereby giving a fundamentally mistaken impression”  on the true size of the Bitcoin marketplace. The claims also cite that 95% of the reported volume is fake and that the real market for BTC is “significantly smaller, more orderly, and more regulated than commonly understood” - which roughly amounts to $273 million. After analyzing the regulated exchanges - using Coinbase Pro as a case study - Bitwise reveals the nature of the trading patterns that is trustworthy. The key characteristics include an “unequal and streaky” mix of red and green (sell and buy orders) whose distribution fluctuates considerably at any given time. The report also cites that the trading patterns on Coinbase Pro reveal “a greater-than-random number of round trade sizes,” which it characterizes as “more natural,” typically human behavior. Bitwise noted:
“It’s [the spread is] $0.01. At the time this screenshot was taken, bitcoin was trading at $3,419. That means bitcoin was trading at a 0.0003% spread, making it amongst the tightest quoted spread of any financial instrument in the world.”
In the conclusion of Bitwise's report you can see that the overall findings “demonstrate that this ETF application [for its Bitwise Bitcoin ETF Trust] meets both” of the conditions requested by the SEC on how a Bitcoin ETF could satisfy the requirements of the Exchange Act.
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