Bitcoin Beats Other Cryptos in ‘Smarter’ Bull Market, Says Billionaire Investor

By CCN: Mike Novogratz, the billionaire CEO of Galaxy Capital and a former hedge fund manager at Fortress Investment Group, believes alternative cryptocurrencies, or altcoins, will be outperformed by bitcoin in the bull market. Not this time. Market getting smarter. $btc will outperform. — Michael Novogratz (@novogratz) May 19, 2019 The statement of Novogratz comes after the bitcoin price risen by more than 115 percent year-to-date against the U.S. dollar, leading the crypto market to add $124 billion to its valuation. Will bitcoin continue to outperform altcoins? Historically, altcoins have…

Tom Lee Cites 13 Confirmations That the Crypto Winter Is Over

Fundstrat Global Advisors co-founder Tom Lee has claimed that the crypto winter is over in a tweet on May 19. In the message, Lee said last week’s Consensus conference in New York City was the latest of 13 signs indicating that the industry is recovering after a tough few months. His timeline of events documenting the turnaround dates back to November 2018, when a bitcoin cash (BCH) hard fork battle exhausted the bitcoin (BTC) supply held by two rival mining pools. Other significant milestones listed by Lee include Jan. 23 of this year, when on-chain transactions…

The Key to Institutional Investment Growth?

Registered custodial services, which are common in traditional investment classes, have been on the rise in the digital asset sphere, including for cryptocurrencies. Branding China Group (BC Group) has recently unveiled its plans for an insured custody service specifically for cryptocurrencies. A conglomerate with a diversified portfolio of blockchain-focused businesses in marketing communications and technology, believes its custody service removes one of the key barriers that have prevented professional traders and institutions from adding digital assets to their portfolios to date. Leading United States crypto exchange and wallet provider Coinbase…

South Korean Bitcoin Exchanges Post Highest Fiat Influx

An average bitcoin investor in South Korea has dumped more fiat money than the one in other countries, reveals CryptoCompare. The London-based data analytics firm found that cryptocurrency exchange BitHumb has received over $16 billion worth of fiat money in April 2019. The firm further noted that Upbit, a BitHumb-rival, posted the second-best influx of fiat-based capital at around $7.5 billion in the same month. At the same time, US-based exchanges Coinbase, Gemini, and Kraken paled in comparison, posting capital injections between $1-5 billion each. South Korean Crypto Market Attracting…

$25,000 Bitcoin Price Next for Perma-Bull Lee after Ringing Crypto Winter Dead

By CCN: Fundstrat CEO Tom Lee says the ‘crypto winter’ is finally over, offering 13 solid reasons to back up his claim. According to the bitcoin perma-bull, there’s nothing but blue sky between here and his $25,000 price prediction. If he’s right, then bitcoin has bottomed for this cycle and we have now entered a bull market. Lee’s 13 signs touched on everything from technical analysis, Wall Street involvement, bitcoin metrics, and generally positive sentiment. After a disturbing pullback to ~$6,200, #Bitcoin back >$8,000 further cementing positive trend intact. As…

Japan Struggles to Regulate Online Gambling

Despite Japan’s reputation for being one of the most welcoming nations for fintech, online crypto gambling has struggled to take off in light of the country’s strict regulation. In late March, the blockchain-based, decentralized application (DApp) platform Tron announced that it would block gambling DApps in Japan, bringing the issue of regulating crypto gambling back to public attention. Cointelegraph takes a look at the legal and cultural approaches to gambling in Japan, along with how developers believe attempts to halt crypto gambling can only last so long. Tron complies with…

FedEx Blockchain Strategist Sees Teamwork as Key to Developing Blockchain Business Models

A senior executive from American delivery services company FedEx is unconvinced about the benefits of blockchain technology in its present form, Memphis-based local news outlet Commercial Appeal reported on May 20. In a new interview, the firm’s dedicated blockchain strategist, Dale Chrystie, said FedEx remains pragmatic about blockchain despite its previous efforts to integrate it. As it stands, conventional processes covering the shipping database aspect of its operations are superior, at least in part due to the nascent stage of blockchain. “To kind of burst the bubble, it’s not our…

Coinbase’s Education Rewards Program ‘Earn’ Expands to Over 100 Countries

Cryptocurrency exchange Coinbase has expanded its Earn program to 103 countries. Now users from the U.S., U.K., much of the EU, Canada, Singapore, Australia, Hong Kong, New Zealand, South Korea and Taiwan can sign up to earn cryptocurrency rewards for learning about the tech, Coinbase announced in a blog post on Friday. The full list of supported nations can be seen here. Coinbase Earn was launched last December, and rewards users in cryptocurrency for completing various educational tasks, including watching videos and taking quizzes. “The rationale behind Coinbase Earn is that…

JPMorgan Tries Fear-Mongering in Attempt to Sabotage Bitcoin Price Rally

By CCN: JPMorgan doesn’t love bitcoin. The bank – the United States’ biggest financial institution by assets – has been historically pessimistic about the flagship cryptocurrency, so just when bitcoin prices started going through the roof, it decided to crash the party with a dire warning. #Bitcoin prices diverge from intrinsic value, carrying echoes of late 2017, JPM says. pic.twitter.com/DImDoSMv8L — Holger Zschaepitz (@Schuldensuehner) May 17, 2019 JPMorgan makes yet another effort to sabotage bitcoin The crypto winter gave JPMorgan’s bitcoin bears reason to cheer earlier this year. The Wall…

Bitcoin Falls Below the $7,900 Mark as US Stock Market Sees a Minor Downturn

Monday, May 20 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) has fallen below the $7.900 mark again. Market visualization courtesy of Coin360 Bitcoin is down over 1.7% on the day, trading at $7,883 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up over 10%. Bitcoin 7-day price chart. Source: CoinMarketCap As Cointelegraph reported earlier today, strategists from United States banking giant JPMorgan Chase have argued that bitcoin’s recent rally has ostensibly soared past what…