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Tag: Crypto

Crypto-currencies are digital financial assets designed to work as a medium of exchange that uses cryptography to secure transactions. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies (altcoins) and virtual currencies.

 

Facebook’s Libra Is Not the Game Changer That’s Being Promised

Enthusiasts would have us believe that Facebook’s own digital currency, Libra, will instantly revolutionize the remittance industry upon its release in 2020 — except it won’t. A harsher reality awaits, with conversion costs, capital gains taxes and a lack of Libra-priced goods all likely to limit its appeal.

Messaging Apps to Take Slice of Remittance Market Using Their Own Cryptocurrencies

Users of popular messaging apps, including WhatsApp and Line, might soon be able to make cross-border payments effortlessly. In a move that will further disrupt the payments industry, the creators of such apps, including Facebook, are working hard to develop their own digital currencies that can be transferred to anyone in a user’s contact list.

Cryptocurrencies Soar: Litecoin Gains 30 Percent

Cryptocurrencies exploded on Friday for reasons not fully understood by analysts. Litecoin was among the day’s stars, gaining 30 percent. Brokers, though, remain skeptical about the rally’s sustainability.

Investors Dump Cryptocurrencies; Bitcoin Falls $800 to 1-Year Low

Bitcoin chart news and forecast

Bitcoin's near-$800 decline on Wednesday might not have raised an eyelid six months ago, but in what has become a lifeless market of late, the fall is alarming.

Bitcoin Bloodbath After Goldman Sachs Scraps Plans for Crypto Trading Desk

The world’s largest cryptocurrency, bitcoin, has lost 15 percent of its value since Wednesday morning. The crypto bloodbath has also taken 25 percent off ethereum. Dramatic declines began after reports indicated that Goldman Sachs is to scrap plans for a crypto trading desk.

Bitcoin to End 2018 “Explosively” on Emerging Market Recovery

Bitcoin is finally back above $7,000 and it might now end the year “explosively higher” according to one expert.

Buy Bitcoin on Strength, Says Yale Study

Friday saw bitcoin once again threaten major support at $6,000. According to new research from Yale University, those wanting to get their hands on bitcoin could do a lot worse than waiting for the market to reapproach $7,200.

Yen Is Star Performer, Yuan Devalued and Bitcoin Finds a Bottom

The Japanese yen has been the star performer of recent days and by Monday afternoon in London it was once again trading higher against most of the world’s currencies. When last seen, USD/JPY stood at 111.

Yuan and Australian Dollar Hit by Latest Round of US Tariffs

Traders offloaded Chinese yuan and Australian dollars on Wednesday after the US government said it would introduce 10 percent tariffs on a further $200 billion worth of Chinese goods.

Bitcoin Loses Its Sparkle and Mexican Peso at 15-Month Low

Bitcoin, it would seem, has lost its sparkle. CNBC are reporting that Google searches for “bitcoin” have fallen 75 percent since January – a statistic suggestive not only of a lack of interest in the world’s largest cryptocurrency, but also of a lack of new buyers. At $7,700, bitcoin is trading at a 55 percent […]

Bitcoin Has Bumper Week as Big Players Prepare to Enter the Market

Bitcoin put up its best showing since February last week, as it rose 17 percent to $8,200. The largest cryptocurrency by market capitalization is down 60 percent from December’s highs but remains one of the hottest topics for investment amateurs and professionals alike. One reason for bitcoin’s current strength is, according to analysts, the entrance […]

Sterling to Remain Steady but Bitcoin, Canadian Dollar Face Difficult Times Ahead

Little has been felt in foreign exchange markets from the UK’s recent political entanglement with Russia, which escalated last week with a tit-for-tat expulsion of diplomats. The pound gained last week against both the dollar and euro and will remain steady for the foreseeable future, according to the collective opinion of FX analysts surveyed by […]

BER-News: Bitcoin below $US10K mark (again)

Among the world’s ten most actively traded currencies, it was the Chinese yuan that was leading the pack approaching the end of the Asian business week.   Last week: majors all down   Aussie dollar (AUD) was down last week, retreating from US0.80 cents, on Australia’s disappointing rise in private sector wages, their massive contraction […]

BER-News: Cryptos hung onto recent gains.

Last week’s much-improved US inflation data had the desired effect on US rate expectations which have adjusted to indicate a 100% probability of the Federal Reserve raising interest rates in March. Ordinarily, such a revision to expectations would fuel a transfer of hot money into US dollars, yet dollar traders continue to chart their own […]

FX Calm Amid Broader Market Carnage; Dollar, Yen and Bitcoin Benefit

During a week which saw global equity markets suffer their largest losses in two years and broader market volatility pick up, foreign exchange markets were surprisingly calm. A flight to safety benefitted the US dollar, which finished higher against a basket of currencies for the second consecutive week; and the Japanese yen, which at one […]

Bitcoin at $8,000 as Regulators and Facebook Strangle Optimism

Bitcoin’s tumble continued on Friday, with the cryptocurrency falling at one stage by fifteen percent to just $7,960 – sixty percent lower than December’s high just shy of $20,000 ($19,891). An afternoon rebound saw bitcoin end the day close to $8,600 but that did little to improve sentiment in the face of scrutiny from regulators […]

Bitcoin Falls $1,000 as South Korean Government Moves to Regulate Crypto-Trading

Bitcoin was back below $14,000 on Friday ($13,995) in the wake of new measures from the South Korean government to better regulate the cryptocurrency and warnings from the Indian finance ministry, who likened bitcoin to a “Ponzi scheme.” On Thursday, bitcoin had tumbled more than $1,000 on a statement from the South Korean government in […]

Philippine Peso Defies Forecasters, Dollar Down and Bitcoin Plunges

The Philippine peso was best in Asia last week and continues to defy pessimistic forecasts from earlier in the year. USD/PHP’s move to 49.99 on Friday was the pair’s first journey through the psychologically important rate of 50 since June, and a 3.2% appreciation in the peso’s value since November 1st places it second only […]

Bitcoin Is a Bubble: It’s a “Classic Case,” Says RBNZ Head

Bitcoin looks “remarkably like a bubble” to the Acting Governor of New Zealand’s central bank, Grant Spencer. Speaking to TVNZ this weekend, Spencer – who will lead the RBNZ’s Monetary Policy Committee until March – said that bitcoin appears to be a “classic case” of a financial bubble. “Over the centuries we’ve seen bubbles and […]

Dollar Higher Following Positive Jobs Report, Baht at 31-Month High and Bitcoin Futures Go Live

A better-than-expected US payrolls number on Friday affirmed investor expectations for a hike in US interest rates next week and supported the US dollar, which rose against a basket of currencies for a fourth consecutive day. Futures markets are now pricing in a 90.2% probability of the Federal Reserve raising the target range for the […]

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