Bitcoin Passes 11000 Mark Nears 15-Month High on Facebook Libra Other News

Bitcoin Passes $11,000 Mark, Nears 15-Month High on Facebook Libra, Other News

Bitcoin Passes $11,000 Mark, Nears 15-Month High on Facebook Libra, Other News

Bitcoin is back, doubling in value in just two months time and raising the prospect of another speculative bubble.

Bitcoin is in the news again, jumping passing the $11,000 mark this weekend and approaching the highest value the cryptocurrency has seen in 15-months after the announcement of Facebook's Libra quasi-cryptocurrency and other market forces.

Cryptocurrencies Bounce Back After Initial Post-Bubble Drop

Bitcoin hit a high of $11,307.69 Sunday evening, posting a more than 20% gain in just one week, according to a new report by CNBC. Prices drew back a bit on Monday, wavering above and below the $11,000 mark all afternoon, priced around $11,070 as of Monday evening.

RELATED: PEOPLE ARE MORTGAGING THEIR HOMES TO GET IN ON BITCOIN ACTION

The sudden jump for the world's first and largest cryptocurrency has a lot to do with the announcement last week of Facebook's 'Libra' digital currency, which reintroduced cryptocurrencies to public consciousness a year and a half after they burst onto the scene with reports of wild, 1000% gains and overnight Bitcoin millionaires. Those reports, in turn, drove further speculation in the cryptocurrency markets, creating a bubble that popped soon after as sell-offs at the height of the craze drove prices into a tailspin as speculators rushed to realize gains they had made on Bitcoin's rise.

After a year and a half hovering in the three-to-five-thousand range, Bitcoin's price is seeing some real action again, doubling in value in just under two months and nearly quadrupling in value just this last year.

There are several reasons for the rise in value, according to analysts. Some say that the rise is due to Bitcoin being seen more as a "safe-haven" asset, rather than a speculative investment.

"There’s a broader understanding of crypto as an asset class,” Circle CEO Jeremy Allaire told CNBC's “Squawk Box” program on Monday. “Anticipation that next generation of blockchains, including what we heard about last week with Libra Association, really indicates what is ultimately going to be a massive mainstream phenomenon touching billions of people."

Forbes points out that much of the current rise in Bitcoin's value may be tied to events in India. Prime Minister Narendra Modi's monetary policy was criticized for appearing to cause chaos in the country in 2016 when his government banned high-value bank notes and a more recent crackdown on internet services like Telegram and Reddit turn people's attention to more decentralized internet services like cryptocurrencies.

The Indian government has proposed banning cryptocurrencies in the country, which could actually be driving more people to cryptocurrencies in the country. In India, Bitcoin is currently trading at a $500 premium.

Facebook's announcement that it will be participating in the Libra Association's digital cryptocurrency–though some cryptocurrency purists have argued that Libra doesn't qualify as a true cryptocurrency since it is not censorship-resistant–clearly contributed to Bitcoin's sudden spike in value as well. Putting its industrial weight behind the principle of cryptocurrencies helps shore up doubts about the value of cryptocurrencies as an asset and may be giving investors some level of reassurance that cryptocurrencies aren't just some dodgy, fake Internet money.

Still, the sudden price spike in Bitcoin can't help but recall its infamous surge in the fall of 2017 and its spectacular collapse in value beginning in January of 2018.

Source: John Loeffler for Interesting Engineering, via BusinessInsider

The rise and fall and rise of Bitcoin value raise a lot of questions about the cryptocurrency. The fundamentals of the currency haven't changed, so it's understandable that many may be looking at its sudden price rise as more evidence that cryptocurrencies are unreliable speculative investments.

On December 13 2016, Bitcoin was selling at $784.30. The price started building quickly over 2017, reaching $3,433 on September 15 2017, after which it soared over the next three months, closing at its all-time high on December 17 2017, Bitcoin was selling at $19,783.21 or more than 2500% its value just 12 months earlier.

The bottom started falling out shortly after that as speculative investors sought to realize their gains, cutting more than $8,000 off its value in just over a month, closing at $11,553.39 on January 19, 2018. The party now most definitely over, Bitcoin's value fell again by close to half, closing at $6,821 on April 1, 2018, eventually reaching its lowest price since the boom almost exactly one year later, closing at $3,254.78 on December 16, 2018.

Since then, it had spent the first quarter hovering in the three-to-four-thousand range, jumping to nearly $5,000 in the beginning of April, where it hovered until the beginning of May when it started to climb again. Since then, it has doubled in value in just under two months.

Is this the start of another round of speculator-driven investment that will collapse just as soon as the last time around? It could, it has happened before after all, and there's nothing about Bitcoin this time around that's all that different than last time. Facebook's entry into the market for cryptocurrencies does shake things up, however, adding a certain about of industrial strength to cryptocurrency that Bitcoin and others didn't enjoy last time around. But major investment banks with more financial industry savvy than Facebook have also been involved in expanding cryptocurrency portfolios, and this hasn't driven sudden spikes in price.

What makes Facebook's involvement in cryptocurrencies more valuable than Goldman Sachs' isn't clear at all. In fact, Facebook's involvement could easily be seen as a negative, given that Facebook is currently under an enormous amount of scrutiny from regulators in both the US and Europe over its privacy practices and issues with its user data.

If you had a stake in cryptocurrencies, probably the last thing you'd want is for Facebook to get involved and muddy-up the crypto-waters. Cryptocurrencies already face enough scrutiny from world governments, hitching their wagon to Facebook as well only makes that problem worse.

Regardless, it remains to be seen if these valuations will last. If past performance is any guide, then we should know in about a month or two as people will either be lamenting that they didn't get in on this whole Bitcoin thing when they had the chance, or they'll be shaking their head at the latest round of poor saps who took out loans to go all in on Bitcoin the day it started collapsing in price.

 

By John Loeffler

Alan Zibluk Markethive Founding Member

The cryptocurrency gains 13 per cent from previous close HONG KONG JUNE 24 Bitcoin traded above 11000 for the first time in 15 months recouping more than half of the parabolic increase that captured the attention of mainstream investors before the cr

The cryptocurrency gains 13 per cent from previous close HONG KONG, JUNE 24  Bitcoin traded above $11,000 for the first time in 15 months, recouping more than half of the parabolic increase that captured the attention of mainstream investors before the cryptocurrency bubble burst last year.  The bounce-back of Bitcoin has been fairly extraordinary, said George McDonaugh, chief executive and co-founder of London-based blockchain and cryptocurrency investment firm KR1 Plc. Money didn't leave the asset behind, it just sat on the sidelines waiting to get back in.  Bitcoin surged as high as $11,251.21 on Monday, a 13 per cent gain from late Friday that put it at the highest levels since March 2018. It was at $10,815 as of 7:10 am in Hong Kong. The largest cryptocurrency had a furious run higher in late 2017 that culminated with a top above $19,500, before an almost-as-relentless move downward over much of 2018. It languished around the $3,300 to $4,100 range for several months.  Bitcoin's ride back accelerated in April, puzzling onlookers trying to pinpoint a reason for the surge. A study by Indexica, an alternative data provider, showed three main drivers: a more complex conversation surrounding Bitcoin, fewer concerns about fraud and a shift in the tense of how Bitcoin is talked about from the past to the future.  The market has matured greatly since the last time Bitcoin crossed $10,000, said Matt Greenspan, a senior market analyst at eToro. This run is far more justified given the current level of adoption.  In contrast with last year, there are now signs of renewed mainstream interest in cryptocurrencies and the underlying blockchain technology, most prominently Facebook's Libra. The social-media giant is working with a broad group of partners from Visa Inc. to Uber Technologies Inc. to develop the system, which has already attracted attention and criticism from politicians raising privacy and security concerns.  Also read: Facebook unveils new cryptocurrency Libra  The advent of Libra is validating the crypto space and sending all the major digital coins higher, said Edward Moya, chief market strategist at Oanda Corp. in New York. Bitcoin volatility is likely to persist, with $12,000 and $15,000 as the next two critical resistance levels.  Still, the speed of the rally has some observers warning caution is once again warranted. To Whitney Tilson, founder of Empire Financial Research and a former hedge-fund manager, Bitcoin is exhibit A in the lexicon of scams that enrich insiders at the expense of average folks.  Don't get fooled by the dead-cat bounce this year, Tilson said in comments last week. Mark my words: A year from now, it will be a lot lower. This is a techno-libertarian pump-and-dump scheme that will end in ruin.  Published on June 24, 2019

Bitcoin climbs above $11,000

The cryptocurrency gains 13 per cent from previous close

HONG KONG, JUNE 24

Bitcoin traded above $11,000 for the first time in 15 months, recouping more than half of the parabolic increase that captured the attention of mainstream investors before the cryptocurrency bubble burst last year.

The bounce-back of Bitcoin has been fairly extraordinary, said George McDonaugh, chief executive and co-founder of London-based blockchain and cryptocurrency investment firm KR1 Plc. Money didn’t leave the asset behind, it just sat on the sidelines waiting to get back in.

Bitcoin surged as high as $11,251.21 on Monday, a 13 per cent gain from late Friday that put it at the highest levels since March 2018. It was at $10,815 as of 7:10 am in Hong Kong. The largest cryptocurrency had a furious run higher in late 2017 that culminated with a top above $19,500, before an almost-as-relentless move downward over much of 2018. It languished around the $3,300 to $4,100 range for several months.

Bitcoin’s ride back accelerated in April, puzzling onlookers trying to pinpoint a reason for the surge. A study by Indexica, an alternative data provider, showed three main drivers: a more complex conversation surrounding Bitcoin, fewer concerns about fraud and a shift in the tense of how Bitcoin is talked about from the past to the future.

The market has matured greatly since the last time Bitcoin crossed $10,000, said Matt Greenspan, a senior market analyst at eToro. This run is far more justified given the current level of adoption.

In contrast with last year, there are now signs of renewed mainstream interest in cryptocurrencies and the underlying blockchain technology, most prominently Facebook’s Libra. The social-media giant is working with a broad group of partners from Visa Inc. to Uber Technologies Inc. to develop the system, which has already attracted attention and criticism from politicians raising privacy and security concerns.

The advent of Libra is validating the crypto space and sending all the major digital coins higher, said Edward Moya, chief market strategist at Oanda Corp. in New York. Bitcoin volatility is likely to persist, with $12,000 and $15,000 as the next two critical resistance levels.

Still, the speed of the rally has some observers warning caution is once again warranted. To Whitney Tilson, founder of Empire Financial Research and a former hedge-fund manager, Bitcoin is exhibit A in the lexicon of scams that enrich insiders at the expense of average folks.

Don’t get fooled by the dead-cat bounce this year, Tilson said in comments last week. Mark my words: A year from now, it will be a lot lower. This is a techno-libertarian pump-and-dump scheme that will end in ruin.

 

Published on June 24, 2019

Hindu Business Line

Alan Zibluk Markethive Founding Member

The Real Reason Bitcoin Ethereum Ripple’s XRP And Litecoin Suddenly Rocketed?

The Real Reason Bitcoin, Ethereum, Ripple's XRP, And Litecoin Suddenly Rocketed?

The Real Reason Bitcoin, Ethereum, Ripple's XRP, And Litecoin Suddenly Rocketed?

Bitcoin, ethereum, Ripple's XRP, and litecoin suddenly rocketed this weekend, with the largest cryptocurrency by market capitalization, bitcoin, shooting past the psychological $10,000 per bitcoin mark to highs of $11,200 on the Luxembourg-based Bitstamp exchange.

Ethereum, Ripple's XRP, and litecoin all made double-digit gains, meanwhile, with the sudden push higher causing many to recall the great bitcoin and cryptocurrency bull run of late 2017 which saw the bitcoin price go from $10,000 per bitcoin to almost $20,000 in under 20 days.

Bitcoin and cryptocurrency analysts have been closely looking for the cause of the sudden price spike, which added some $30 billion to the total value of the world's cryptocurrencies over just two days, with Facebook's potential rival to bitcoin and next year's bitcoin halvening event two commonly named potential catalysts.

However, the bitcoin price spike has been led by India, with bitcoin trading at a $500 premium on the few remaining local exchanges as the government cracks down on internet services such as messaging app Telegram and news aggregator Reddit.

Earlier this month, an Indian government panel reportedly recommended banning bitcoin, which it branded a Ponzi scheme, and a blanket ban on the sale, purchase, and issuance of cryptocurrencies in the country.

Though the panel recommended banning bitcoin, some in the country are skeptical about its implementation, pointing to a previous recommendation that never came to pass.

However, India, under prime minister Narendra Modi, has had an unconventional approach to monetary policy, with the government plunging the country into chaos in 2016 by suddenly banning some higher value bank notes.

Some also think that Facebook's planned cryptocurrency has given legitimacy to bitcoin and other decentralized cryptocurrencies, making it more difficult for India to justify a complete ban.

"The panel report held weight before Facebook announced its plans. The tech giant launching a similar currency provides some sense of legitimacy,” Nischal Shetty, chief executive of Indian cryptocurrency exchange WaxirX told Quartz, a business news outlet.

"If Facebook is going to come up with this, then other tech companies may follow suit. It is hard to believe the government will say that such big companies are also into a Ponzi scheme."

Attempts to ban bitcoin and cryptocurrencies, decentralized internet services which are naturally resilient to censorship, could have a Streisand effect, proving the need for them and making people more aware they exist.

Meanwhile, analysts and trading experts believe Facebook's Libra cryptocurrency could give bitcoin a further boost and potentially push it back to the heady days of late 2017.

"Bullish investors believe if Facebook's crypto Libra becomes a trusted payment mechanism then people are also more likely to trust bitcoin as a reliable long-term store of value, a digital gold," said Glen Goodman, author of bitcoin and cryptocurrency trading advice book, The Crypto Trader.

"Many traders will be looking to take some profits off the table now, but it's worth remembering that last time bitcoin's price broke through $10,000 it then hit it's all-time high of nearly $20,000 just 16 days later."

 

 

Billy Bambrough

 

Alan Zibluk Markethive Founding Member

Bitcoin Skyrockets To 11000 – How High Can It Go From Here? BTC Price Analysis amp Weekly Overview

Bitcoin Skyrockets To $11,000  - How High Can It Go From Here? BTC Price Analysis & Weekly Overview

Bitcoin Skyrockets To $11,000 – How High Can It Go From Here? BTC Price Analysis & Weekly Overview

 

The most famous cryptocurrency does it again: Just four months ago Bitcoin was trading close to $3000, and now – close to $11,000.

Bitcoin managed to survive drops of more than 80% in its value successfully. Not only survive but overcome and become even stronger than before. Such strength we could have seen during the past three months, following the breakout of the $4,000 zone.

The $11,000 area was the target given to Bitcoin in our analysis from just two days ago. Another thing to note is the action during the weekends. Bitcoin whales plan their action to the weekends, and it’s not a coincidence that the breakout took place when most of the world is off to start another weekend.
 

Total Market Cap: $322.8 Billion (crossed $300 Billion!)

Bitcoin Market Cap: $190.8 Billion

BTC Dominance: 59.1%

Looking at the 1-day & 4-hour charts

– Support/Resistance:

Looking at the daily chart, we can see Bitcoin’s breakout of the upper ascending trend-line (out of the three lines, marked in orange). However, the longer-term weekly chart tells a different story, as the $11,000 serves as a robust resistance level.

Since the coin hadn’t seen a significant correction since the $7500 area, and the fact that Bitcoin is in the middle of yet another parabolic move, at the time when a correction will take place – it will hurt, however, till then you better not disturb the bulls. Anything that goes 3x in three months is unexpected and volatile, to both sides.

Now the closest resistance lies at $11,000. In case that this zone gets broken above, the next significant resistance area is around $11,500 – $11,600, which is the high from February 2018. Further above lies $12,000.

From below, Bitcoin had crossed $10,000 like it was nothing. The nearest levels of support lie at $10,600, $10,200 and $10,000. Below 5 digits is the $9600 – $9700 support area, $9400, $9000 and $8800.

– Daily chart’s RSI: The RSI also broke out above 70 and now facing the 80 level. However, one concern is the divergence in the RSI, both daily and weekly charts. To see the bullish momentum continue, the RSI needs to follow Bitcoin’s price chart in creating higher highs. Another thing to note is that Stochastic RSI of the daily chart is stretched out to the overbought area.

– Trading Volume: The volume is still not record breaking, yet. This is according to the divergence in the RSI. However, this could be due to the fact that it’s partly weekend.

– BitFinex open short positions: Just as expected, the open short positions are gaining momentum along with the rising Bitcoin. There are now 28.8 K BTC of open short positions. This is their highest level since May 11.

BTC/USD BitStamp 4-Hour Chart

BTC/USD BitStamp 1-Day Chart

 

AUTHOR: YUVAL GOV LAST UPDATED ON JUN 22, 2019 @ 09:14 UTC

Alan Zibluk Markethive Founding Member

Bitcoin Closes in on 10000

Bitcoin Closes in on $10,000

Bitcoin Closes in on $10,000

It has been a stellar week for Bitcoin and it looks like the bull run is not over yet.

In Asian trade, BTC has broken out of the overhead resistance area around $9,500-600 region and is pushing higher. Clearly, all eyes are on the $10,000 mark as price continues to ramp up into the huge psychological level.

Interesting, GOLD has also been strong today, with many already calling Bitcoin, ‘digital gold’, there is some irony here. Gold has been strong as I wrote about earlier, thanks to an Iran strike against a US drone. Apparently, Trump considered to take military action but has so far held back.

Bitcoin, on the other hand, is really getting some strong follow-through, thanks to the news that Facebook is launching its own coin. Libra will be used as a payment between users on the entire platform including both Messenger and WhatsApp.

The market has been mixed in its response to the news. Some are saying that it validates the entire concept, while others are urging caution as the move is a stepping stone to companies ultimately controlling the world currencies, which could destabilise the entire monetary system on a global scale.

For the sake of our interests, we are more focused on the price action and given the fact that price has broken resistance, this is not a bad momentum play for a run into the $10,000 level.

As I’ve said before, there is sure to be selling pressure at that point, but at the same time, it will likely act as a magnet. So I would not be surprised to see this run into those highs today or in the next few sessions.

Bottom Line: We are long Bitcoin until proven otherwise. I expect price to test $10,000 and we will keep that long bias until we see how price responds at $10,000.

 

Posted Friday, June 21, 2019 by Rowan Crosby

Alan Zibluk Markethive Founding Member

Bitcoin Price Storms 151 YTD as Facebook’s Libra Boosts 2019 Rally

Bitcoin Price Storms 151% YTD as Facebook's Libra Boosts 2019 Rally

Bitcoin Price Storms 151% YTD as Facebook’s Libra Boosts 2019 Rally

 

By CCN Markets: Bitcoin is up more than 151 percent against the U.S. dollar year-to-date at $9,300, surpassing most assets and stock indices in the likes of Nasdaq 100 and S&P 500 with ease in six-month performance.

The bitcoin price is up nearly $1,200 in the past week (source: coinmarketcap.com)

With the block reward halving of bitcoin on the horizon and the inflow of institutional capital consistently on the rise, the sentiment around the crypto market remains positive.

Why this trader says Libra will not negatively affect bitcoin

Libra, a crypto asset developed by the Libra Association, a consortium based in Switzerland founded by major conglomerates including Facebook, Visa, Mastercard, Lyft, Uber, Booking Holdings, and more, dominated the headlines in the financial sector in the past two days.

Some analysts have suggested that the release of Libra, planned for 2020, may lead to the decline in demand for existing crypto assets such as bitcoin and ether, the native cryptocurrency of Ethereum.

However, industry executives and traders within the crypto sector believe Libra would only act as a catalyst for existing crypto assets and boost mainstream interest towards the asset class.

DCG CEO Barry Silbert said:

“The launch of Facebook’s cryptocurrency will go down in history as the catalyst that propelled digital assets (including bitcoin) to mass global consumer adoption. Will be remembered as just as important — and transformative — as the launch of the Netscape browser. Buckle up.”

A crypto trader and real estate developer known as Satoshi Flipper noted that Libra, which will operate as a stablecoin backed by the Libra Reserve according to its whitepaper, will not replace bitcoin nor compete against it in the same market.

Rather, it would operate in a centralized ecosystem with regulations and oversight, bringing more awareness to bitcoin and the rest of the crypto market.

He said:

Once Libra goes live, nobody outside of the Facebook platform will care much for it. It’s another stable coin and it’s not replacing BTC. It will work in a centralized ecosystem. But it will bring awareness to BTC and altcoins. And I’m excited about the network effect it will have.

The Winklevoss twins, billionaire bitcoin investors and the founders of the Gemini exchange, also expressed their optimistic stance on the near to medium term performance of bitcoin.

Tyler Winklevoss said that if the bitcoin price breaks above $10,000, it is highly likely to surge above $15,000 based on the historical performance of the asset.

Similarly, Fundstrat co-founder Thomas Lee stated that if the bitcoin price surpasses the $10,000 mark, a 200 to 400 percent increase in value is expected based on the performance of bitcoin throughout the past several years.

Lee said:

“Well, you know I think bitcoin ultimately becomes a reserve currency in crypto, bitcoin at $9,000 has only been at this level in four percent of its history. We’re deep into a bull market and people are pretty silent about it. I think bitcoin is easily going to take out its all-time high.”

Will alternative crypto assets see light?

From record highs, alternative crypto assets remain down by more than 80 percent against the U.S. dollar on average.

Ether and XRP, for instance, are down 81 percent and 87 percent respectively from their all-time highs while bitcoin is down about 52 percent from its record high at above $20,000.

Based on the strong performance of bitcoin since January and the struggle of alternative crypto assets to match the performance of bitcoin in the last six months, traders see potential in major assets to rebound strongly shall bitcoin maintain its momentum throughout 2019.

 

 

Published: 20/06/2019 04:47 ET. Journalist:

Joseph Young @iamjosephyoung

Alan Zibluk Markethive Founding Member

Bitcoin’s Rally Forgets These Asia Crypto Shares

Bitcoin's Rally Forgets These Asia Crypto Shares

Bitcoin's Rally Forgets These Asia Crypto Shares

(Bloomberg) — This year’s resurgence of Bitcoin and other cryptocurrencies has yet to translate into the same kind of gains for some of Asia’s more prominent crypto-linked stocks.

The largest digital coin is up about 150% in 2019, surging past the $9,000 level earlier this week ahead of Facebook Inc.’s announcement for a cryptocurrency called Libra, that will be governed by a group of almost 30 companies including Visa Inc., Mastercard Inc. and PayPal Holdings Inc. Facebook shares slipped 0.3% in New York after the announcement Tuesday.

The prospect of Facebook and other mainstream institutions such as JPMorgan Chase & Co. entering the space has been one of the main drivers of the so-called thaw in the “crypto winter” since April. U.S. bitcoin-exposed assets have rallied: Grayscale Bitcoin Trust soared 189% this year, Riot Blockchain Inc. rose 78%, Marathon Patent Group Inc. climbed 50% and Parateum Inc. surged 67%.

But there has been little follow through in Asia.

Monex Group Inc., which owns the Japanese exchange and former hacking victim Coincheck Inc., is down more than 2% this year in Tokyo. The brokerage is counting on its investment in Coincheck to help its securities arm make up lost territory against its competitors.

Others include Remixpoint Inc., operator of crypto exchange BITPoint, which has lost 10% so far in 2019. Vidente Co., a shareholder of South Korean exchange Bithumb, is down 14% this year, while BC Technology Group Ltd., which launched new crypto exchange ANXONE earlier this year is also down 35% amid a wider selloff among Hong Kong-listed stocks.

“Companies that have invested in exchanges, I do think they will lag price appreciation in terms of the stock,” said Vijay Ayyar, Singapore-based head of business development at Luno, a crypto exchange. Companies need to “report at some point and actually show some guidance in terms of how they are able to convert their crypto revenue into fiat dollars.”

While it can be difficult to determine a company’s exposure to crypto relative to its other operations, Ayyar sees three levels by which investors can roughly gauge how closely a stock may move in line with the price of Bitcoin, with the first the most strongly correlated:

Outright ownership of digital assets;Investment in a crypto exchange;Investment in a blockchain project.

“I do think that in crypto, the general consensus seems to be that you are basically better off owning crypto rather than trying to invest in the peripheral stocks,” Ayyar added. “Owning crypto-linked stocks is lesser risk and potentially lesser reward because it’s not going to directly be as lucrative.”

Stock-Market Summary

MSCI Asia Pacific Index ex-Japan up 1.5%MSCI Asia Pacific Index up 1.5%Japan’s Topix index up 1.5%; Nikkei 225 up 1.6%Hong Kong’s Hang Seng Index up 2.2%; Hang Seng China Enterprises up 2.2%; Shanghai Composite up 1.4%; CSI 300 up 1.9%Taiwan’s Taiex index up 1.3%South Korea’s Kospi index up 1%; Kospi 200 up 1.1%Australia’s S&P/ASX 200 up 1%; New Zealand’s S&P/NZX 50 up 1.1%Singapore’s Straits Times Index up 1.3%; Malaysia’s KLCI up 0.3%; Philippine Stock Exchange Index up 0.3%; Jakarta Composite up 0.8%; Vietnam’s VN Index down 0.3%S&P 500 e-mini futures little changed after index closed up 1% in last session

 

Bloomberg Eric Lam

Alan Zibluk Markethive Founding Member

Bitcoin Climbs Above 92316 Level Up 086

Bitcoin Climbs Above 9,231.6 Level, Up 0.86%

Bitcoin Climbs Above 9,231.6 Level, Up 0.86%

Investing.com – Bitcoin rose above the $9,231.6 threshold on Tuesday. Bitcoin was trading at 9,231.6 by 00:54 (04:54 GMT) on the Investing.com Index, up 0.86% on the day. It was the largest one-day percentage gain since June 17.

The move upwards pushed Bitcoin's market cap up to $164.6B, or 57.12% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B.

Bitcoin had traded in a range of $9,199.2 to $9,336.1 in the previous twenty-four hours.

Over the past seven days, Bitcoin has seen a rise in value, as it gained 16.39%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $15.3B or 29.04% of the total volume of all cryptocurrencies. It has traded in a range of $7,805.7661 to $9,438.1270 in the past 7 days.

At its current price, Bitcoin is still down 53.54% from its all-time high of $19,870.62 set on December 17, 2017.

Elsewhere in cryptocurrency trading

Ethereum was last at $270.01 on the Investing.com Index, up 0.81% on the day.

XRP was trading at $0.44702 on the Investing.com Index, a gain of 3.81%.

Ethereum's market cap was last at $28.9B or 10.04% of the total cryptocurrency market cap, while XRP's market cap totaled $19.2B or 6.65% of the total cryptocurrency market value.

Prices of the major cryptocurrency were mostly higher on Tuesday in Asia, with Bitcoin hovered above the key $9,000 level on Facebook’s reported move into cryptocurrency.

Bitcoin rose 2.1% to $9,267.4 by 11:30 PM ET (03:30 GMT). Ethereum gained 0.7% to $270.23. XRP jumped 4.3% to 0.44642, but Litecoin underperformed and lost 1.5% to $133.058.

Facebook (NASDAQ:FB) is reportedly launching a new digital asset to be used as a peer-to-peer payment within messenger apps. Bitcoin surged immediately following the news, as some analysts said the news could be the biggest boost for virtual coins in history.

 

 

Cryptocurrency News10 minutes ago (Jun 18, 2019 12:54AM ET)

Alan Zibluk Markethive Founding Member

Bitcoin’s Likely Introduction Of Crypto Pushes Bitcoin Price Above 9000

Bitcoin's Likely Introduction Of Crypto Pushes Bitcoin Price Above $9000

Even though in the Indian context, trading in cryptos is likely to be restricted due to the recent report which may send individuals engaging in cryptos to jail for a 10-year term, in the global world, cryptos are fast gaining ground. Just a week before there was news that a lesser known crypto litcoin has almost surged 4-folds this year on account of halvening, the process that will push up the price of the digital currency as well as prevent erosion in its value.

And no later, Bitcoin, the largest crypto has known to surge to levels beyond $9000 on Facebook optimism as the social media giants is making news rounds of introducing its cryptocurrency. The recent renaissance in cryptos is primarily on the back of the fact that these are seeing a greater adoption from mainstream companies and institutions as well as gained the attention of Wall Street on a more recent basis. The largest digital currency surged 7.4% from late Friday and traded at US$9,006.55 as of 8.49am Tokyo time. Rival coins also climbed: litecoin was up 5.9 per cent and ethereum rose 4.5 per cent.

 

By Roshni Agarwal| Updated: Monday, June 17,

Alan Zibluk Markethive Founding Member

Piixpay Lets You Pay Bills and Invoices With Cryptocurrency

Piixpay Lets You Pay Bills and Invoices With Cryptocurrency

Piixpay Lets You Pay Bills and Invoices With Cryptocurrency

If you need to regularly cover fiat payments but prefer to use your digital assets, a platform like Piixpay can be very helpful. The payment provider allows you to use cryptocurrencies to pay invoices, bills and make other recurring payments to recipients that still accept only traditional money.

Spend Bitcoin Cash, Make Fiat Payments

To initiate a new payment with Piixpay you have to provide the beneficiary’s name and Iban number. You are required to enter the exact amount in euros, as the platform processes bank transfers in Europe’s single currency. You also need to add a short description of the transaction and an optional reference number.

Then you have to choose the crypto you are going to spend. Piixpay currently supports four major digital coins – bitcoin cash (BCH), bitcoin core (BTC), litecoin (LTC), and dash (DASH) – as well as a stablecoin backed by euros. Est-coins (ESCT) are issued by Piixpay’s operator, Ungaro LLC, and have a redemption value of €1 per coin.

Piixpay has another useful feature called Instafill. It lets you link a crypto wallet address to a bank account. Each time coins are sent to that dedicated address, the payment processor will exchange the cryptocurrency and send the fiat to your bank account. You can also check the status of any payment at all times.

To use the services of the crypto payment platform you have to create an account. You can sign up with a valid email address or use your Facebook, Google, Linkedin, Windows or Yahoo account. Piixpay is registered and licensed in Estonia but it operates in over 100 countries around the world.

There’s a service fee of €1 + 1.75% of the amount for transactions funded with cryptocurrencies. Bank transfers cost €1 for transactions within the Single Euro Payments Area (SEPA) and €40 for outside the zone. The smallest amount you can transfer is 1 euro and each transaction is limited to a maximum of €20,000. You can find more information about all applicable fees on Piixpay’s website.

Alan Zibluk Markethive Founding Member

Be As You Are ….