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| August 19, 2018

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Archaeologists fear biblical artifacts, monuments won’t survive Yemen war

August 9, 2018 |

Years of internal conflict and ISIS insurgency across Iraq and Syria has destroyed much of what was left of the Middle East’s pre-Islamic history, with experts now fearing that the protracted civil war in neighboring Yemen too will quietly erase its rich biblical roots.
FOX News

Markets Update: Monster Liquidations and Flash Crash Fear

August 3, 2018 |

Markets Update: Monster Liquidations and Flash Crash Fear

For more than six months of 2018, cryptocurrency markets have been extremely bearish considering the massive bull run in 2017. Last month many digital asset prices performed better than they had in months and some enthusiasts thought crypto markets might be on the mend. However, bitcoin markets and many other cryptocurrency values have started to slide and some traders and analysts believe the storm may get much worse.

Also Read: The Bitcoin Cash Network Processed 687,000 Transactions on August 1st

Watch Out  Cryptocurrency Prices Can Invalidate Your Trading Position In a Matter of Minutes

Cryptocurrency bears, love them or hate them, exist in great magnitude this year, for as everyone knows, digital assets have been in a slump. Many cryptocurrencies seemingly have hit the ‘bottom’ at least three times so far, but that may not hold true for very long. A market bottom is what’s considered the lowest the price of a cryptocurrency will go for a period of time until markets rise in value again. For instance, BTC/USD prices touched a high of $ 19,600 per coin last December and since then BTC values have dipped to roughly $ 5,700 per BTC a few times. This has led some people to believe that the $ 5,700 region is the bottom, at least for now, unless things go southbound during a flash crash. Many respected cryptocurrency traders have different types of views when it comes to what will happen next in the land of digital currency markets.  

One respected digital asset trader called Mr. Jozza details that right now bitcoin markets are not looking very nice. “The bitcoin market is ugly,” Mr. Jozza emphasizes. “It completely invalidated my previous bullish interpretation. No follow through on break up of a bearish trend.”

While Okcoin 415 mm contract liquidation sits on the books, expecting $ 7200 test for support.

Markets Update: Monster Liquidations and Flash Crash Fear
Chart by Mr. Jozza on August 2, 2018.

Are High-Frequency Trading Firms Joining the Party?

Another respected trader and administrator of the large Telegram trading chat room Whale Club, BTCVIX, says High-Frequency Trading (HFT) firms are trading bitcoin.

“Hey crypto trading noobs — this pattern look familiar? The Judas candle — yeah BTC moves more and more like forex every day — you have the same forex HFT firms joining the BTC party,” BTCVIX details on August 2.

Markets Update: Monster Liquidations and Flash Crash Fear
Chart by BTCVIX on August 2, 2018.

The Greatest Danger in Crypto: Flash Crashes

Because of the volatile movements over the last few days, digital asset margin traders on exchanges like Okex and Bitmex have literally been getting ‘rekt.’ Three days ago on July 31, the exchange Okex liquidated more than $ 400 million USD worth of Bitcoin futures contracts from just one customer. Two days later the well-known cryptocurrency trader Philakone explained to his 100,000 Twitter followers that people should be careful of ‘flash crashes’ in crypto markets, especially when trading with leverage.

“Here are my positions — I’ve set aside another $ 200K now in my margin that I can play just in case something violent like a flash crash happens — Always be mindful of that,” Philakone emphasizes.

Always remember the greatest danger in crypto: Flash crashes. If you forget about this, it’s not good. It could happen only ONE time for you to destroy your crypto career. I’ve been there. Be careful baby whales.

On August 1 the respected cryptocurrency analyst Willy Woo explained to his Twitter followers that he thinks BTC will “flash dump, then moon” during a global banking crisis. People believe the analyst because Woo has predicted cryptocurrency variances correctly a few times in the past.

Markets Update: Monster Liquidations and Flash Crash Fear“Interesting to see most think BTC will moon,” Woo details. “I think BTC will flash dump, then moon afterward, just like with Gold in WFC 2008.”

Flight to safety: everything else sells off to USD, then used to unwind leveraged positions, then afterward havens like Gold and BTC have a bull run.

“Probably also contingent on how many institutional players are in the BTC market over that period. Normal retail HODLers won’t tend to have large leveraged positions to unwind from, apart from maybe mortgages,” Woo notes.

Markets Update: Monster Liquidations and Flash Crash Fear
Chart by Willy Woo on July 27, 2018. 

The Last Dead Cat Bounce? Short Positions Begin to Pile Up Before the Weekend Trading Sessions

Currently, most cryptocurrency markets are still in the red seeing losses over the last 24 hours. Bitcoin core (BTC) has been trading between $ 7,250-7,520 over the last day, while bitcoin cash (BCH) is swapping for $ 660-740 per coin. Both markets have seen consistent drops in trade volume (BCH $ 375M, BTC $ 4.4B), and billions shaved off their market capitalizations. Many leverage traders lost their shirts over the last three days due to margin liquidations, as there were some very quick drops in value this week. As we approach the weekend short contracts are already starting to pile up on Bitfinex, Kraken, and Bitmex once again.

Markets Update: Monster Liquidations and Flash Crash Fear

The last few weeks of gains gave traders a breath of fresh air, but the bullish sentiment didn’t last long. Unlike the slew of Wall Street bigwigs that believe bitcoin will touch $ 50K or zero by the year’s end, there are many traders out there who are more in touch with reality and telling people they should trade carefully.

Where do you see the price of BTC, BCH and other cryptocurrencies headed from here? Let us know in the comment section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Pixabay, and the various traders mentioned above on Twitter.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Markets Update: Monster Liquidations and Flash Crash Fear appeared first on Bitcoin News.

Bitcoin News

Many fear Artificial Intelligence as the road to robots taking over the world — are they right?

July 17, 2018 |

It’s an understandable fear – and one that’s long been popularized by the movies and the media.
FOX News

Swiss Officials Fear ICOs Will Tarnish Reputation of ‘Crypto Valley’ Zug

March 22, 2018 |

Some Swiss Officials Fear ICOs Will Tarnish Reputation of ‘Crypto Valley’ Zug

Cryptocurrency foundations, community organizations, and entrepreneurs have helped put the lightly populated Swiss canton of Zug on the business world’s map. While the local administration has created one of the most welcoming environments for the industry, some voices fear possible negative repercussions such as bad press and an American regulatory backlash.

Also Read: Survey Says 8% of the American Population Now Own Cryptocurrency

Lamborghini Robin Hoods

Some Swiss Officials Fear ICOs Will Tarnish Reputation of ‘Crypto Valley’ ZugA new report from Zug, Switzerland by the Financial Times showcases that despite the success ‘Crypto Valley’ has had in attracting businesses, there are still those that fear it might bring unwanted attention as well. A Swiss finance specialist commented: “I’m just waiting for Washington to call Bern and ask ‘what are you doing down there in Zug?’.” Another local insider said: “They say they are different to banks, that they are Robin Hoods — but we have Robin Hoods driving around in Lamborghinis.”

Besides flashy displays of wealth, critics also echo other familiar complaints. “My big worry is that the whole intransparency will lower Zug’s standing worldwide,” said Andreas Hürlimann, a local Green party councillor. “You don’t know from where to where the money is flowing, whether it is drug money for instance.” He also added that the council accepting bitcoin payments was “clearly a marketing gag”.

For their part, the entrepreneurs appear to be pleased with the region’s politicians and  regulations. The only issue they raised in the FT report was reluctant cooperation by the local banks, something that they can bypass by turning to other places such as Liechtenstein.

Black Sheep

Some Swiss Officials Fear ICOs Will Tarnish Reputation of ‘Crypto Valley’ ZugThe main concern that rises from the report is that some ICO could mess up in a way that will bring foreign pressure to harshen the local legal framework for all others. “Switzerland remains under pressure to follow a ‘clean money’ strategy. It was hard work to get Switzerland off the blacklists — and there is of course no appetite for it to be back on them,” explained Jan Seffinga, blockchain expert at Deloitte.

“These ICOs require blind trust in the founders. You can’t do much if the raised funds are misappropriated,” commented Luzius Meisser, founder of the Bitcoin Association Switzerland. Heinz Tännler, Zug canton’s finance director, said: “The risk is when you have ‘black sheep’. We have our eyes open. But there is never an opportunity without risks.”

Still others seem to be overwhelmed by the fast development of ‘Crypto Valley’. Dolfi Müller, Zug town council president, said: “We play the background music . . . We don’t have great plans — we don’t want to be a ‘smart city’ like Dubai. It’s step by step. It’s Asterix against Rome.”

Should the people of Zug be grateful for ICOs bringing business to their community or cautious? Share your thoughts in the comments section below!


Images courtesy of Shutterstock.


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

The post Swiss Officials Fear ICOs Will Tarnish Reputation of ‘Crypto Valley’ Zug appeared first on Bitcoin News.

Bitcoin News

U.S. Soybean Farmers Fear China Will Retaliate for Steel Tariffs

March 7, 2018 |

China’s appetite for U.S. soybeans has waned, and concerns are growing that exports of the legume could suffer further with the White House’s proposed tariffs on steel and aluminum.
WSJ.com: US Business

With Cohn Leaving, White House Aides Fear ‘Disaster’

March 7, 2018 |

President Trump will choose Gary Cohn’s replacement as chief economic adviser soon, he promised via Twitter shortly after Cohn announced his departure. “Many people wanting the job – will choose wisely!” Trump wrote. The Washington Post reports that one of the people Trump is considering is media personality Larry Kudlow,…
Newser

Trade war could spark food fight, California growers fear

March 5, 2018 |

Steel and aluminum may be the intended quarry of a trade war that President Trump has said would be “good” for the U.S. economy, but the casualties of the conflict could be food, agricultural economists warn.

China, the European Union, Mexico, Canada and other trading partners have sent strong…


L.A. Times – Business

GPU Producers Fear Drop in Demand from Crypto Miners

March 4, 2018 |

GPU Producers Fear Drop in Demand from Miners

Reports concerning major manufacturers of graphics processing hardware have indicated expectations of decreasing demand in the cryptocurrency mining sector. Nvidia is unlikely to unveil new video cards in the coming months, while AMD has shared concerns of dropping GPU sales in 2018, blaming the crypto market and regulatory risks.   

Also read: Report: Crypto Miners Bought 3 Million GPUs Last Year

New GPU Launch Pushed Back

Several tech publications have suggested a launch of new product lines by Nvidia. The expectations were focused on the upcoming Game Developers Conference and GPU Technology Conference in March. The latest information, however, indicates the company may have changed its plans. New GPU announcements are now expected in July at the earliest.

GPU Producers Fear Drop in Demand from MinersPreviously, it has been rumored that Nvidia may reveal a new card for crypto mining applications. The dedicated unit was reportedly codenamed “Turing” after the British computer scientist and cryptanalyst Alan Turing. Now, it turns out that Turing could be just another gaming video card, much like the other new line called Ampere.

The Turing graphics processing units (GPUs) were supposed to be designed specifically for calculating cryptocurrency transactions. GPUs are mainly utilized in rigs mining altcoins, like ethereum and monero. The Ampere processors should be integrated in the next-gen Geforce cards to replace the current Pascal lineup. Nvidia was expected to separate the GPU market in two segments – for miners and gamers, respectively.

Trends in Demand from Miners Change Plans

High demand for video cards used in mining applications last year has forced Nvidia to take measures to ensure gamers get hold of its GPUs. In January the company asked retailers to limit the number of cards purchased at a time. Miners usually buy the latest GPUs in bulk, and that has created shortages on many markets. Nvidia CEO Jen-Hsun Huang has stated that the company is working to resolve supply issues.

Nvidia partners have been expecting to receive the Turing specifications but they are not likely to get them until May, Tom’s Hardware Guide reports, quoting “multiple independent sources”. Mass production has been scheduled to begin in mid-June. The new cards may be announced in July, or even August. According to the online edition, Nvidia has no impetus to launch new products now, when AMD is not putting enough pressure and demand from miners may drop. On top of that, the current “Pascal” generation is selling well. The launch of the next-gen Ampere architecture may also be postponed in the consumer segment, where the professional Volta can be used instead.

GPU Producers Fear Drop in Demand from Miners

AMD, Nvidia’s main competitor, has admitted that decreasing demand from miners can affect its business this year. Last month Advanced Micro Devices announced plans to increase production of graphics cards in response to strong market demand. This week, however, the company said that several factors, like increasing crypto market and regulatory risks, may change the GPU market by decreasing demand from cryptocurrency miners.

Gauging the crypto-related market and predicting its developments has proved difficult for major video card manufacturers. Nevertheless, newly released data suggests that sales in the mining segment have been profitable for both companies. More than 3 million graphics cards have been sold to cryptocurrency miners in 2017, according to a recent report.

Do you expect a decrease in demand for GPUs from crypto miners this year? Share your thoughts in the comments section below.  


Images courtesy of Shutterstock. 


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The post GPU Producers Fear Drop in Demand from Crypto Miners appeared first on Bitcoin News.

Bitcoin News

CNN

Afrin Residents Fear Turkish Onslaught

February 21, 2018 |

Civilians caught in the middle of conflict: homes destroyed, hospitals bombed. Turkey’s offensive in Afrin, Syria is now almost a month old. For the Yazidi minority, the ultimate fear is persecution. CNN’S Ben Wedeman reports.
CNN.com – RSS Channel – World