Bitcoin and the rest of the market is surprisingly linear today, with many altcoins registering modest gains as BTC remains range-bound. Ethereum and XRP in particular are showing strong gains.
It’s commonly assumed that the best regulatory attitude towards bitcoin and other cryptocurrencies is a proactive one. But a leading lawyer is contradicting this common wisdom, saying that the best approach is to accommodate crypto into existing legal frameworks, as the UK is now doing.
VeChain is starting to attempt a short-term upside recovery after enduring eight consecutive weeks of heavy trading losses. The cryptocurrency briefly moved above its 200-period moving average on the four-hour time for the first time since early July, before being sold sharply lower.
Say what you like about Roger Ver, but he certainly doesn’t suffer from false modesty. The founder of Bitcoin.com recently took to YouTube with a series of short videos about his young life, early business forays, and eventual shift from evangelizing for Bitcoin to his now-favorite cryptocurrency, Bitcoin Cash.
The U.S. Department of Justice has charged top managers at JPMorgan Chase of market manipulation, Reuters reports. For the better part of a decade, according to DoJ charges, traders Gregg Smith, Michael Nowak and Christopher Jordan allegedly manipulated prices of gold, silver, platinum and palladium futures on the New York and Chicago Mercantile Exchanges.
Secure oracle mechanisms are the only way to bring established companies onto the blockchain, according to the founder of Chainlink (LINK). In an interview with Crypto Briefing, Sergey Nazarov explained that many companies are interested in using the technology, but are nervous about adapting to new infrastructure.
“If you take some time to talk to these people and try and sell them a system, you realize that they literally run servers on COBOL,” Nazarov told Crypto Briefing.
Decentralized finance may just be taking off, but it hasn’t escaped the notice of savvy traders. The rapid rise of Compound Finance suggests that the lending app has become the focal point for sophisticated trading strategies, which exploit arbitrage opportunities on DeFi dApps across the Ethereum ecosystem.
In this series on Bitcoin and money, Crypto Briefing takes a deep dive into the complexities of the modern monetary system and how Bitcoin, as the ultimate hard money, can serve as a solution to many of its problems.
In Part Six of the series we start to resolve some of the issues laid out in the first chapters – specifically regarding why Bitcoin and other blockchain-based models exemplify a new economic reality in which self-sovereignty, data privacy, and trustlessness have value.
The weekend drone attack on Saudi Arabia’s oil production facilities has slashed global oil supplies by five percent, temporarily sending the price of Brent crude up twenty percent. The attack also prompted a one percent rise in the price of gold. For Bitcoin, which is often touted as a virtual form of gold, the Saudi oil attacks will prove a crucial test of the asset’s safe-haven bona fides.
As we pass the middle of September, cryptocurrency markets are still lethargic. Bitcoin’s tunnel trading continues with renewed vigor, though we are seeing a fair amount of action further down the charts. Notable gainers are Ethereum and EOS, which had noticeable upticks over the weekend.
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