BitcoinPrice https://bitcoinandethereum.com Cryptocurrencies News, Noticias de Bitcoin Criptomonedas, BTC Investing Tools, Free Tokens Airdrops Alert Alarm, Best ICOs to Invest, Como Invertir en ICO Wed, 16 Oct 2019 14:29:44 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.4 https://i2.wp.com/bitcoinandethereum.com/wp-content/uploads/2019/02/cropped-Bitcoin-GIF-PNG.gif?fit=32%2C32&ssl=1 BitcoinPrice https://bitcoinandethereum.com 32 32 125700584 Calibra Head: Libra ‘Absolutely Not’ in Jeopardy Without PayPal, Visa https://bitcoinandethereum.com/calibra-head-libra-absolutely-not-in-jeopardy-without-paypal-visa/ Wed, 16 Oct 2019 14:29:44 +0000 https://bitcoinandethereum.com/calibra-head-libra-absolutely-not-in-jeopardy-without-paypal-visa/ Head of Facebook’s Calibra claimed that the recent withdrawal of the seven firms from the Libra Association has no impact on the project. Dropouts will still be able to work with Libra In an interview [...]

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Head of Facebook’s Calibra claimed that the recent withdrawal of the seven firms from the Libra Association has no impact on the project.

Dropouts will still be able to work with Libra

In an interview with Yahoo Finance on Oct. 15, Calibra’s David Marcus argued that Facebook’s cryptocurrency project is “absolutely not” in jeopardy after PayPal, Visa, Mastercard, Stripe, eBay, Mercado Pago and Booking quit the Libra Association.

Marcus emphasized that companies outside the formal association will still be able to offer services on the platform:

“One thing that is not well understood is that you don’t need to be a member of the Libra Association to build services and products. So if Visa and Mastercard want to issue cards for Libra wallet at a later stage, they can still do it without being members of the association.”

The Calibra executive further expressed his respect to the seven companies’ decision to leave the project and thanked the firms for having the courage to “look at potentially disrupting themselves.” 

Marcus said that he understands that the firms have a responsibility to their shareholders, which “were under a lot of pressure.”

The withdrawal has nothing to do with regulatory concerns

According to Marcus, the departure of the seven firms has nothing to do with regulatory matters as Libra project is “fleshing out all of the regulatory requirements and oversight required for this to operate.” 

However, the executive admitted that the process around Libra will continue to be difficult and will become even harder before it gets easier, while the association members should have the passion, energy and fortitude to press forward.

The news comes after Libra was formally founded in Geneva, Switzerland, on Oct. 14, with the 21 remaining initial members, including Uber, Lyft, Coinbase, Spotify and Vodafone.

As reported, Libra hopes to attract 100 members before its public launch slated for the first half of 2020. 

Meanwhile, U.S. Rep. Warren Davidson said recently that Facebook adding Bitcoin (BTC) to Calibra would be a “way better idea” than creating a new currency.

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Bitcoin Price Falls Under $8K With ‘Ugly’ Scenarios on All Timeframes https://bitcoinandethereum.com/bitcoin-price-falls-under-8k-with-ugly-scenarios-on-all-timeframes/ Wed, 16 Oct 2019 14:29:32 +0000 https://bitcoinandethereum.com/bitcoin-price-falls-under-8k-with-ugly-scenarios-on-all-timeframes/ Bitcoin price (BTC) fell below $8,000 in fresh choppy trading action on Oct. 16, after several days of slow grind ended in a bearish turn. Cryptocurrency market daily overview. Source: Coin360 Bitcoin greets midweek traders [...]

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Bitcoin price (BTC) fell below $8,000 in fresh choppy trading action on Oct. 16, after several days of slow grind ended in a bearish turn.

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

Bitcoin greets midweek traders with $300 dump

Data from Coin360 shows the largest cryptocurrency put an end to its sideways trading style on Wednesday, falling several hundred dollars in minutes.

Markets at first rejected a more precipitous fall, with some exchanges showing Bitcoin reversing at exactly $8,000. 

At press time, those levels had given way again, under pressure while fluctuating below the $8,000 barrier on local lows of $7,930. 

Bitcoin seven-day price chart

Bitcoin seven-day price chart. Source: Coin360

Commenting, Cointelegraph contributors were unsurprised by the test of support, having warned of its arrival over the past two days. 

For filbfilb and Michaël van der Poppe, the more significant lower boundary for Bitcoin lies closer to $7,400.

Current activity is thus dictated by buyers absorbing downward movements, only to increase sentiment to drive prices lower in return. Filbfilb added to Cointelegraph that all timeframes for Bitcoin trading now look negative.

“Bitcoin looking pretty ugly here,” popular Twitter trader Crypto Rand meanwhile added in further warnings on Wednesday, continuing: 

“Not taking positions for now. But I would be looking to add shorts on the flag retest after the potential breakdown. Always plan in advance to avoid emotional decisions.”

Altcoins follow Bitcoin downhill

Bitcoin’s volatility meanwhile took its toll on altcoin markets. In the 24 hours to press time, many cryptocurrencies in the top twenty by market cap fell around 5%.

Leading the losses were Tron (TRX), EOS (EOS) and Binance Coin (BNB), all of which shed between 6% and 7%. Conversely, Bitcoin SV (BSV) delivered 1% gains.

Ether (ETH), the largest altcoin by market cap, traded 4.2% down at $176.

Ether seven-day price chart

Ether seven-day price chart. Source: Coin360

The overall cryptocurrency market cap likewise fell, this time to below $220 billion with Bitcoin’s share making up 66.4% of the total.

Keep track of top crypto markets in real time here

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EY Launches Blockchain Tool to Help Bring Accountability to Public Finances https://bitcoinandethereum.com/ey-launches-blockchain-tool-to-help-bring-accountability-to-public-finances/ Wed, 16 Oct 2019 14:29:11 +0000 https://bitcoinandethereum.com/ey-launches-blockchain-tool-to-help-bring-accountability-to-public-finances/ Professional services giant EY (Ernst & Young) is using blockchain tech to assist governments in improving transparency and accountability in the management of public funds. The firm, one of the Big Four accounting firms, announced [...]

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Professional services giant EY (Ernst & Young) is using blockchain tech to assist governments in improving transparency and accountability in the management of public funds.

The firm, one of the Big Four accounting firms, announced the news Wednesday, saying its new “blockchain-enabled” EY OpsChain Public Finance Manager will compare government spending programs with the results of the expenditure, even when the money has passed through different layers of government and public service agencies.

It’s claimed to track finances in real time and “create a single source of integrated financial and nonfinancial performance information to support decision-making.”

Mark MacDonald, EY’s lead of Global Public Finance Management, said in the announcement that transparency, accountability and sound evidence for decision-making are vital in managing public funds. The firm’s new tool is aimed to help those in charge of public finances to “assess and improve” their systems, he added.

The product has already been trialed around the world, the firm said, citing one pilot in Toronto where the city used the finance manager solution to track how reconciliations and fund transfers between departments are managed.

The system is built on EY OpsChain, a blockchain platform launched in its second iteration in April with claimed support for up to 20 million transactions per day over private networks. The firm is eyeing a range of use cases for the blockchain platform generally, including in healthcare, the food industry, supply chain and financial management.

EY image via Shutterstock

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Bermuda Now Accepts USDC Crypto for Taxes and Government Services https://bitcoinandethereum.com/bermuda-now-accepts-usdc-crypto-for-taxes-and-government-services/ Wed, 16 Oct 2019 14:28:41 +0000 https://bitcoinandethereum.com/bermuda-now-accepts-usdc-crypto-for-taxes-and-government-services/ Residents of Bermuda can now pay their taxes in cryptocurrency. The Government of Bermuda announced Wednesday it will accept payments in USD Coin (USDC) “for taxes, fees and other government services,” according to a press [...]

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Residents of Bermuda can now pay their taxes in cryptocurrency.

The Government of Bermuda announced Wednesday it will accept payments in USD Coin (USDC) “for taxes, fees and other government services,” according to a press release by crypto finance startup Circle.

USDC is a stablecoin pegged to the U.S. dollar launched a year ago by cryptocurrency exchange Coinbase and Circle. To date, over $1 billion worth of USDC has been issued between the two startups.

In what looks to be the first for a sovereign nation, Bermuda will be supporting USDC as acceptable tax payment for some 60,000 residents.

What’s more, support for other “decentralized finance protocols and services” outside of USDC are also in the works as part of a broader initiative to integrate cryptocurrencies into official government operations, the press release stated.

Bermuda also announced Wednesday it would be collaborating with blockchain startup Shyft Network to launch a digital identity program benefiting individuals doing business in the country.

About Bermuda’s push for USDC adoption, Circle CEO Jeremy Allaire told CoinDesk via email:

“Bermuda is focused on enabling financial services to be built and delivered using cryptocurrency and digital assets.”

The Bermuda government launched a blockchain task force in conjunction with the Bermuda Business Development Agency (BDA) in late 2017. It went on to pass legislation on initial coin offerings (ICOs) and create a regulatory sandbox for cryptocurrency companies.

As a result of the favorable focus on the crypto industry within the country, Circle recently moved its exchange operations to Bermuda in late July.

Others

Bermuda isn’t the first municipality to accept cryptocurrency payments.

Last November, Ohio became the first U.S. state to allow taxes to be paid in bitcoin. A subsequent political administration in the state walked back the bitcoin tax policy earlier this month citing potential conflicts with Ohio state law.

Notably, other national governments such as the Republic of the Marshall Islands and the People’s Republic of China are working on their own state-regulated cryptocurrencies.

“Governments everywhere will need to respond to this fundamental innovation,” Circle said in a statement, adding:

“Hats off to [Bermuda] Premier David Burt, who continues to show more leadership on these issues and very much remains out ahead of other governments in the world.”

Bermuda image via Shutterstock

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Bitcoin Price Flat at $8.3K as Moving Averages Indicators Flip Bearish https://bitcoinandethereum.com/bitcoin-price-flat-at-8-3k-as-moving-averages-indicators-flip-bearish/ Tue, 15 Oct 2019 12:33:33 +0000 https://www.bitcoinandethereum.com/bitcoin-price-flat-at-8-3k-as-moving-averages-indicators-flip-bearish/ Bitcoin price (BTC) continued its latest sideways trading pattern on Oct. 15 as analysts increasingly warned over likely short-term volatility. Cryptocurrency market daily overview. Source: Coin360 Bitcoin clings to $8K support Data from Coin360 showed [...]

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Bitcoin price (BTC) continued its latest sideways trading pattern on Oct. 15 as analysts increasingly warned over likely short-term volatility.

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

Bitcoin clings to $8K support

Data from Coin360 showed BTC/USD remaining near $8,300 at press time, having fluctuated around that level over the past 24 hours.

Highs during that period topped out at $8,390, the culmination of a build-up that reversed a previous downtrend at $8,240.

Bitcoin seven-day price chart

Bitcoin seven-day price chart. Source: Coin360

Since a sudden dip took place on Sunday evening, Bitcoin has stayed quieter, trading in a narrow range above $8,000 support. 

That range forms part of “choppy” conditions for BTC/USD, according to regulator Cointelegraph contributor Michaël van der Poppe.

For him, moving average (MA) prices are dictating the upper and lower bounds for the largest cryptocurrency this week. Specifically, it is “stuck between the 200-Day MA/EMA & 100-Week MA,” he said in private comments.

Fellow contributor filbfilb elaborated on likely price trajectory in the coming hours and days, erring on the side of a slide lower to test $8,000. He told subscribers of his Telegram channel:

“Moving averages are crossed bearish on every major timeframe up to but not including the weekly.” 

Van der Poppe nonetheless remains unconcerned about the overall health of crypto markets. “It completely looks like a beartrap and overall doesn’t look bad at all if you check this whole year,” he summarized.

At current levels, Bitcoin is still up 120% versus the start of the year. 

Altcoin growth broadly fizzles

Altcoins meanwhile slackened their march upwards, which characterized trading on Monday. The top twenty cryptocurrencies by market cap broadly failed to move, gaining or losing up to 2%.

The exception was Binance Coin (BNB), which benefited from a dedicated exchange-traded product launching on Swiss stock exchange SIX.

Ether (ETH), the largest altcoin by market cap, meanwhile gained 0.5% to trade at around $184.

Ether seven-day price chart

Ether seven-day price chart. Source: Coin360

The overall cryptocurrency market cap, the “bear trap” described by van der Poppe, dropped slightly to below $226 billion, with Bitcoin’s share at 66.3%.

Keep track of top crypto markets in real time here

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