Analyst Who Predicted Bitcoin’s $3,000 Bottom & More Thinks This Is Next

Analysts in the Bitcoin market are dime a dozen, but good analysts are hard to come by. One of these “good” analysts is PenarthUdi — a pseudonymous TradingView user who few know nothing about, other than the fact that his calls have been amongst some of the most accurate in the industry. In December 2018, he made the linked infamous call on TradingView, on a chart depicting that he expected for Bitcoin to bottom around $3,000 by the end of 2018, then rally to a price between $10,000 and $20,000…

US State Reps Submit Bill Spurring Blockchain Innovation in Rhode Island

Two state representatives in Rhode Island introduced a new bill promoting blockchain and technology adoption in the state.  Rhode Island representatives David Place and Blake Filippi introduced a new bill on March 11 known as the “Rhode Island Economic Growth Blockchain Act.” The motion aims to provide green pastures for blockchain innovation growth, ensuring Rhode Island’s ability to keep up with the times.  The bill’s new regulation  The new proposal aims to give blockchain regulatory parameters within Rhode Island. The bill reads: “The state of Rhode Island understands that to…

In Echo of 2008, Fed Pledges $1.5 Trillion Injection to Aid Reeling Markets

U.S. central bankers pledged Thursday to inject some $1.5 trillion into the financial system in an effort to calm panicky markets after the spreading coronavirus triggered steep price declines on everything from stocks to bitcoin. The move by the Federal Reserve Bank of New York comes as investors in traditional Wall Street markets have rushed to snap up U.S. Treasury bonds, historically viewed as a “safe haven” asset in times of turmoil. The flight to safety has pushed down the 10-year note’s yield, which moves in the opposite direction from…

US Charges Dutch National With Running Crypto-Funded Child Porn Site

U.S. prosecutors indicated a Dutch national Thursday for allegedly spearheading a rape and child pornography website that’s made over $1.6 million worth of bitcoin selling videos since 2012. Known as “Michael R.M.,” and “Mr. Dark,” the man allegedly ran a site called “DarkScandals” that operated on the darknet, which requires special software to access, and on the public clearnet. He allegedly sold over 2,000 videos and had ties to 303 virtual currency accounts, according to a press release from the U.S. Attorney’s Office for the District of Columbia. Bitcoin (BTC)…

Down 26%: Bitcoin Sees Worst Sell-Off in 7 Years as Coronavirus Spurs Flight to Safety

Bitcoin (BTC) suffered its biggest drop in seven years, as fears over the spreading coronavirus triggered a new wave of selling in everything from stocks and junk bonds to cryptocurrencies. This came despite a new European Central Bank pledge to pump more cash into panicky markets.   Prices for the largest cryptocurrency by market value plunged 26 percent to $5,863 as of 13:54 UTC (9:54 a.m. Eastern time). The move wiped out bitcoin’s gains for the year, dropping prices to the lowest level since May 2019. At least for now, it…

UK Financial Regulator: Watch Out for Coronavirus Crypto Scams

The United Kingdom’s Financial Conduct Authority (FCA) is asking investors to watch out for coronavirus-related crypto scams. In a March 11 warning to the public, FCA, the U.K’s top financial regulator, said scammers may attempt to take advantage of the fast-spiraling global pandemic, which has infected some 460 U.K. residents and killed eight. “Watch out for scams related to coronavirus (COVID-19),” the FCA wrote. “These scams take many forms and could be about insurance policies, pensions transfers or high-return investment opportunities, including investments in cryptoassets.” The warning came the same…

Bitcoin Tackles $6K After 20% Crash as Stocks Rival 1987 Apocalypse

Bitcoin (BTC) struggled to turn $6,000 into support during trading on March 12 as the second “Black Monday” event in the same week pushed stocks to perilous lows. Cryptocurrency market daily overview. Source: Coin360 BTC bounces off $5,700 floor Data from Coin360 and Cointelegraph Markets showed BTC/USD trying and failing to recapture $6,000 after shedding 20% in a single hour. As Cointelegraph reported, Donald Trump’s travel ban set the scene for a coronavirus panic attack on Bitcoin markets, with the cryptocurrency crashing to 10-month lows of $5,720. On an hourly…

Ethereum Down 35% as Crypto Market Loses $68.61 Billion in 30 Minutes

Ethereum, the second-largest cryptocurrency by market capitalization, plunged by a massive 35 percent on Thursday, logging its biggest decline in a day since the 2018 ICO bust. The ETH-to-dollar exchange rate fell from $195.64 to $126.28 in 30 minutes, following the leading cryptocurrency Bitcoin’s frenetic sell-off within the same timeframe. The implosive move downhill led Ethereum’s market capitalization to a fresh year-to-date low of circa $14.98 billion. At its highest, it was $27.37 billion. ETH/USD pulls back mildly after crashing 35 percent | Source: TradingView.com Elsewhere in the crypto market,…

US Court Fines ICOBox $16M for Securities Violation in SEC Case

A federal court has ordered ICOBox to pay a $16 million penalty to the Securities and Exchange Commission’s (SEC) for violating U.S. securities law. On March 5, Judge Dale S. Fischer of the District Court for the Central District of California granted the SEC’s motion for default judgment against the ICO-as-a-service platform and founder and CEO Nikolay Evdokimov. The SEC first brought charges against ICOBox in September 2019, accusing the company of hosting an unregistered securities sale. The regulator also accused the company of acting as an unlicensed securities broker…

Ethereum Is Diving And Primed To Test $165: Here’s Why

Ethereum is showing a lot of bearish signs below $200 against the US Dollar. ETH price is likely to extend losses below $185 and $180 in the near term. Ethereum is struggling to recover above the $195 and $200 resistance levels against the US Dollar. The price is likely to dive further below the $180 support level in the near term. There is a key bearish trend line forming with resistance near $192 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price broke the $7,700 support and…