Bitcoin News

Tuesday, August 28: crypto markets are seeing strong positive momentum bolster a persuasive recovery, as Bitcoin ( BTC ) breaks above the $7,000 price point and all but 3 altcoins amid the top 100 cryptocurrencies post strong gains on the day. Growth among the top ten largest assets ranges between 4.5 to almost 20 percent, as  Coin360  data shows. Market visualization from  Coin360 Bitcoin ( BTC ) is trading at around $7,016 at press time, up around 4.2 percent on the day, according to Cointelegraph’s Bitcoin price index. The top coin has seen  several  days of  recovery  since its brief price  dent  August 22 in the wake of toughened  anti-crypto measures  in  China  and a fresh series of  disapproval orders  for several Bitcoin exchange-traded funds ( ETFs ) by the U.S. Securities and Exchange Commission ( SEC ). Bitcoin’s 7-day price chart. Source: Cointelegraph  Bitcoin Price Index On the week, Bitcoin is up a strong 4.1 percent, with its monthly gains now around

Iran ’s National Cyberspace Center has revealed that the draft of the state-backed  cryptocurrency project is ready, local news outlet  Financial Tribune  reports August 25. According to the article, the national digital currency project was developed on instructions from President of Iran Hassan Rouhani. Saeed Mahdiyoun, the deputy director in charge of drafting regulations for Iran's Supreme Cyberspace Council, has reportedly revealed to local news agency IBENA that the idea of introducing a national cryptocurrency is being actively pursued by Iran's cyberspace authority. Mahdiyoun also stated that the state authorities will soon remove the existing uncertainty around cryptocurrencies, since the Central  Bank  of Iran is set to introduce its official stance on the issue at the end of September. At the moment, cryptocurrencies operations are  banned  by Iranian banks and credit institutions, following the money laundering concerns that were first raised in December

Friday, August 24: crypto markets have seen notable growth today, with all but one of the top 40  cryptocurrencies  by market cap solidly in the green, according to data from  Coin360 . Market visualization from  Coin360 Bitcoin  (BTC) has seen solid growth, having surpassed the $6,600 price point, starting the day just over $6,400. The leading cryptocurrency is up around 3 percent over the past 24 hours, trading at $6,624 at press time. August 22 Bitcoin  plunged  from above $6,700 to under the $6,400 price point, following news of  new anti-crypto policies  in  China , as well as another series of  application denials  for several Bitcoin exchange-traded funds ( ETFs ) by the U.S. Securities and Exchange Commission ( SEC ). According to  CoinMarketCap , Bitcoin and  VeChain  (VET) are the only two cryptocurrencies among top 20 coins by market cap that have seen some gains over the past 7 days, with Bitcoin up just  1.43 percent . Bitcoin 7-day price chart. Source: Coi

Crypto analyst Brian Kelly has predicted that approval of a Bitcoin ( BTC ) exchange-traded fund ( ETF ) will “likeliest” and “earliest” come in February 2019, in an  interview  on CNBC’s Fast Money August 23. Kelly’s forecast comes hot upon the heels of the  U.S.  Securities and Exchange Commission’s ( SEC )  rejection  of nine BTC derivatives-based ETF proposals from three applicants August 22. An ETF is a type of mutual investment fund that divides ownership of a commodity, derivative,  index, or basket of assets, into shares. The fund tracks the value of the underlying asset(s) and is traded on exchanges, with shareholders entitled to any positive returns. ETFs are marketable securities that require oversight by government authorities, and the current and prospective regulatory status of crypto-related ETFs remains unresolved and  avidly discussed . Kelly pointed out that while the SEC has recently chosen to  delay  its decision on a separate and high-profile BTC ETF app

The  U.S.  Securities and Exchange Commission ( SEC ) will review its decision to reject nine applications to list and trade various Bitcoin (BTC)  exchange-traded funds  (ETFs), Reuters  reported August 23. On Wednesday, the SEC  disapproved  a total of nine inquiries from three companies to bring  BTC -based ETFs to market, claiming that the products did not comply with the requirements by the “Exchange Act Section 6(b)(5), in particular the requirement that a national securities exchange's rules be designed to prevent fraudulent and manipulative acts and practices." Shortly after, the SEC released letters stating their intention to review the decision, having delegated authority to take action on the applications. However, the letters do not specify a deadline for the decision nor what the review will entail. ETFs  are marketable securities that track an index, commodity, or basket of assets, that are proportionately represented in the fund’s shares. ETFs experienc

Cybercriminals have raked in a total $2.3 million by exploiting ICOs via phishing in the second quarter of 2018, a Kaspersky study revealed. The multinational cybersecurity company in its new  Spam and Phishing in Q2 2018  report found that online malefactors target crypto investors with fake ICO websites. Most of these sites belong to Ethereum-powered startups that raise money for the development of their platforms. In addition to injecting a phony crowdfunding link into their outbound emails, cybercriminals try every last trick to influence a victim to send them crypto-funds to their Ethereum wallets willingly. The victims, believing they are investing in a good ICO round, ends up throwing their Ether funds to unlawful benefactors. “Cybercriminals continue using the names of new ICO projects to collect money from potential investors that are trying to gain early access to new tokens,” Kaspersky disclosed. “Sometimes phishing sites pop up before official project sites.” F

With Bitcoin declining this year, you might expect mining activity to follow. That hasn’t happened. The combination of falling prices and a rising hash rate -- which measures computing power -- shows how complex the economics of cryptocurrency mining are. An increasing hash rate means Bitcoin mining is still profitable enough for many players to stay put, defying speculation that prices have fallen past break-even points. Source: https://www.bloomberg.com/news/articles/2018-08-16/with-bitcoin-sinking-cryptocurrency-miners-just-dig-deeper That may be a reflection of how sophisticated Bitcoin mining has become after last year’s 1,400 percent price rally. While that drew a fair share of amateurs mining from their basements, the lucrative rewards also drove major miners to up their game by snatching up increasingly speedy chips and setting up shop in places with cheap power. That’s helped them squeeze out smaller players as prices fall to the $6,000 level. “There are still m