Bitcoin Price Breaks Through Key Resistance as Traders Target $9.2K

Bitcoin daily price chart. Source: Coin360 Bitcoin (BTC) bulls appear to have found a second wind which allowed them to push the price above $9,000 to daily high at $9,150.  As discussed in an earlier analysis, bulls had been fighting to hold the price above $8,800 throughout the day and multiple attempts at knocking out the $9K mark were held back by $8,963 and $8,985.  BTC USD 6-hour chart. Source: TradingView Traders will now look for Bitcoin to sustain above $9,118.85 in order to flip the $9,100 to $9,200 zone…

Coinbase and Ripple Execs Unveil Master Plan to Drive US Crypto Adoption

Two executives at Coinbase and Ripple are leading a push for smart regulations and transparency in the crypto-sphere that would arguably drive adoption and take blockchain technology mainstream.  Market integrity must improve The Market Integrity Working Group’s co-chairs want regulators to grasp how they can advance the cryptocurrency industry. In an official company statement, Coinbase senior director and associate general counsel Rachel Nelson, in conjunction with Ripple’s head of global institutional markets Breanne Madigan, wrote:  “To improve market integrity and provide consumers the confidence they deserve, Congress may need to…

Ditto Music to Launch App Offering Speedy Blockchain Solution

Ditto Music will launch Bluebox, a blockchain recording technology that could be a boon to musicians and distributors alike.  What it’s all about The problem, says Ditto Music CEO Lee Parsons, is that misplaced metadata can end up eating away at the bottom line.  Recently Ditto made a royalty payment of 60,000 pounds sterling ($80,000) to the wrong artist. Parsons reportedly had to pay the correct artist out of his own pocket.  But Bluebox will allow artists to address legal concerns, such as copyright registration, publishing, and mechanical splits. The…

Deutsche Bank Says Digital Currencies Could Be Mainstream in 2 Years

A digital currency could see widespread adoption within the next few years, a new report by Deutsche Bank suggests. Published Monday, the Deutsche Bank report said digital currencies, while only a decade old, have already been shown to have the “potential to radically change payments, banking, central banking and the balance of economic power.” “We believe a new digital currency could become mainstream within the next two years,” according to the report, with both China’s digital yuan initiative and Facebook’s Libra project expected to launch this year. The report said…

Bitcoin Price Pushes Above $8.8K as Bulls Attempt to Reclaim $9,000

After a pleasant weekly close, Bitcoin (BTC) bulls turned up Monday prepared to push the price to the $9K mark and possibly above. Over the weekend numerous crypto analysts suggested that if the price sustained above the $8,650 resistance Bitcoin would rally to $8,800 to set a daily lower high, consolidate, then make another run at the $9,200 mark.  Bitcoin daily price chart. Source: Coin360 All, except the latter, has come to pass and at the time of writing traders are attempting to push the price through 9,000 but $8,963…

Cryptocurrencies Won’t Replace Cash ‘Anytime Soon’

Cash is unlikely to disappear anytime soon despite declining use as a payment method and the surge of digital currencies, Germany’s largest bank says. Deutsche Bank, a German multinational investment bank that previously predicted that cryptocurrencies will replace fiat by 2030, now claims that cash “will be around for a long time” as a preferred method of payment. Deutsche Bank Research issues three reports on the future of payments The bank has forecast a tentative future for cash in one of its recent “The Future of Payments” reports carried out…

Four Class-Action Suits Against Bitfinex Over 2017 BTC Price Now One

The four class-action suits against Bitfinex, Tether and parent company iFinex over alleged market manipulation leading to Bitcoin’s (BTC) 2017 bull market have been consolidated — with implications for every BTC buyer since April 2017. Per an order dated Jan. 24 and filed Jan. 27 from Judge Failla of the court of the Southern District of New York (SDNY), four complaints have been consolidated. Plaintiffs Leibowitz, Young, Faubus and Ebanks — as well as assorted sub-listed parties in each of those cases — will now have their cases heard jointly. …

China’s BTC Volume on LocalBitcoins Hits 2-Year Low

China’s Bitcoin (BTC) trading volumes have continued to drop, hitting a two-year low on peer-to-peer exchange LocalBitcoins. According to Bitcoin statistics website Coin Dance, China’s BTC trading volumes have been gradually dropping from late 2019 to the present, touching to their lowest weekly volume in more than two years. During the week ending on Jan. 25, China traded just about 4.5 million yuan ($648,000) on LocalBitcoins, down over 90% from the intra-year weekly high of more than 45 million yuan ($6.4 million). The all-time high of China’s weekly Bitcoin trading…

Payments Startup Raises $80M From SBI Group, Visa Invest and Others

Cross-border payments platform Currencycloud has raised $80 million in funding from SBI Group, Visa and other investors. Per a Jan. 27 press release, London-based Currencycloud secured $80 million from SBI Group, Visa, International Finance Corporation, BNP Paribas and Siam Commercial Bank. Following the investment, Colleen Ostrowski, senior vice president and treasurer of Visa Inc, will join the board of Currencycloud. By its own account, the startup — which provides embedded B2B cross-border payments — is going to allocate the raised funds for its further growth, expansion of its portfolio of…