Cryptocurrency news

A limited debut of China’s long-touted central bank digital currency is set to begin in the city of Shenzhen by the end of 2019, according to a media report. China is at last planning to conduct the first real-world test of its central bank digital currency (CBDC), fresh reports claim. According to local news outlet Caijing on Dec. 9, the initial pilot for the CBDC is set for the city of Shenzhen before the end of 2019, and may possibly include the city of Suzhou. Banks in a digital currency “horse race” Under the auspices of China’s central bank, the People’s Bank of…

South Korea’s government plans to tax capital gains returns on cryptocurrency transactions. The South Korean government plans to tax capital gains on cryptocurrency transactions. A Dec. 9 report from The Korea Times reveals that a revised bill to introduce the measure will be drawn up by the country’s Ministry of Economy and Finance by the first half of 2020.In parallel, the Korean National Assembly is in the process of advancing a related bill aimed at increasing transparency in cryptocurrency trading. If passed, the new regulations would come into effect one year after the Assembly’s plenary session.While the government’s capital gains…

Is Nordea Bank’s controversial Bitcoin ban protecting employees from themselves or using crypto as a scapegoat? An act of paternalism or a case of generic Bitcoin (BTC) distrust? It is hard to make out the exact reasons for Nordea Bank’s ban on its 31,500 employees trading in Bitcoin or other cryptocurrencies — even on their own time — a prohibition that was upheld on Dec. 2 by a Danish court.In a press release posted by the court following its ruling, Nordea Bank noted that, “Employees are permitted to keep any existing [crypto] holdings,” though it added that they were encouraged…

As Ethereum successfully performs Istanbul hard fork, several crypto exchanges announced support for the network update. Following the successful Ethereum Istanbul hard fork update, several popular exchanges have announced their official support for the network upgrade.Yesterday, on Dec. 7, the Ethereum’s network saw ample collaboration between node operators and miners to update the software to support the Istanbul hard fork.Some crypto exchanges even sounded their willingness to update a few days prior to the scheduled hard fork.A widely supported hard forkNotably, Binance announced support for the upgrade on Dec. 5 and the day afterwards its U.S. subsidiary did the same.…

Ethereum completes the Istanbul hard fork, analysts warn “the halvening” will be a non-event, and research suggests crypto will replace fiat by 2030. Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.Top Stories This WeekEthereum completes Istanbul hard forkIt’s happened! Ethereum’s much-anticipated shift to Istanbul has been completed, and the system-wide update came into force when the network passed block #9069000 late on Saturday night. Vitalik Buterin claims…

Bitcoin price could drop by 64% from here despite the May 2020 halving based on a historic indicator that suggests BTC may be in the middle of a bear cycle. As the Bitcoin price (BTC) begins to slowly ascend, the question on everyone’s minds is whether the latest bottom is in, or whether there is more pain ahead.  In this article, I will aim to provide some insight as to what one can expect based on the information from the charts. Daily crypto market performance. Source: Coin360.comLower CME gap to be filledBITCOIN CME futures daily chart. Source: TradingViewIn last week’s analysis, I…

Can the approaching holiday season boost Bitcoin and crypto prices? Let’s analyze the charts of the top performers of the past seven days. The New York Digital Investment Group LLC (NYDIG) has received approval from the United States Securities and Exchange Commission (SEC) to offer its shares to institutional investors, including registered investment advisers, their clients and other eligible investors. The fund aims to invest in cash-settled BTC futures traded on exchanges that are registered with the U.S. Commodity Futures Trading Commission. Though the increasing number of offerings by various companies targeting the institutional investor is a positive sign, the larger…

Most of the top 20 cryptocurrencies are reporting moderate gains as Ethereum price seems unaffected by the hard fork. Sunday, Dec. 8 — most of the top 20 cryptocurrencies are reporting discreet gains on the day by press time, as Bitcoin (BTC) hovers around the $7,550 mark again.Market visualization courtesy of Coin360Bitcoin price is currently down by 0.2% on the day, trading at around $7,552 at press time, according to Coin360. Looking at its weekly chart, the coin is up by about 2.91%.Bitcoin 7-day price chart. Source: Coin360On Dec. 6, cryptocurrency market analyst Alex Thorn pointed out on Twitter that…

A guide to Bitcoin halving — a pre-scheduled event that will reduce the asset’s supply, potentially driving the price upward. Will the Bitcoin price change?Historically, the price has gone up following a halving, but it ultimately depends on the supply/demand ratio.Essentially, Bitcoin halving cuts down the supply of BTC, making the asset more scarce. If the demand is there, the price is likely to increase. There are also some historical precedents. On Nov. 28, 2012, the day of Bitcoin’s first halving, the cpryptocurrency’s price rose from $11 to $12, and continued to climb up throughout the next year, reaching $1038…

As the cryptocurrency market stagnates, Bitcoin is left vulnerable to miner capitulation, which could lead BTC to lower price ranges. The stagnation of the cryptocurrency market has put Bitcoin’s (BTC) price at risk of further decline, as it struggles to recover beyond key resistance levels. A descending price increases the probability of the so-called “miner capitulation” occuring, which is said to have triggered the major BTC drop in December 2018.Late last year, the Bitcoin price fell to around $6,000 following three months of stability in a tight range between $6,000 and $6,500. The subsequent drop to the $3,000s happened within…