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| April 23, 2018

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Southern California home prices jump to a new record high

April 23, 2018 |

Southern California’s median home price jumped 8.4% in March from a year earlier, setting a new all-time high, as hopeful buyers engaged in bidding wars over a limited supply of homes on the market.

The six-county region’s median price for new and resale houses and condos hit $ 519,000 last month,…


L.A. Times – Business

Markets Update: Bitcoin Cash Prices Up Over 60% This Week

April 23, 2018 |

Markets Update: Bitcoin Cash Prices Up Over 60% This Week

The price of Bitcoin (BCH) has spiked considerably over the past two weeks as the decentralized cryptocurrency’s market has just captured a $ 20Bn capitalization. The market value of BCH is currently hovering around $ 1,250 per coin and the digital asset commands close to $ 1Bn in trades over the past 24-hours.

Also read: ‘Coindaddy’ Another Crypto-Rapper Rhymes About Bitcoin Life

Bitcoin Cash Markets Surge

Bitcoin (BCH) is on a rampage, surpassing most of the 1,500 cryptocurrency performances this week recorded on Coinmarketcap. Today the market value of one BCH is 13.80 percent of the price of one Bitcoin Core (BTC) token. The reason for this is due to the significant demand for BCH this past week as the currency’s trade volume has doubled in less than three days. Over the past 48-hours, the top trade on the peer-to-peer exchange Shapeshift is BTC for BCH. Over the past seven days, data shows bitcoin cash markets have seen a 60 percent gain.  

Markets Update: Bitcoin Cash Prices Up Over 60% This Week
Over the past few days, the top trade on the peer-to-peer trading platform Shapeshift has been Bitcoin (BTC) Core for Bitcoin (BCH).

Although, Bitcoin Core swaps against BCH have dropped significantly over the past few days, as bitcoin cash is capturing a lot more direct fiat trades during today’s trading sessions. BTC trades represent 40 percent of the BCH trades today, when last week they were well over 50 percent. This is followed by tether (USDT 24%), the U.S. dollar (22%), the South Korean won (7.8%), and the euro (1.8%). The influx of USD, EUR, and KRW into BCH has increased significantly this week.

Markets Update: Bitcoin Cash Prices Up Over 60% This Week
Today Bitcoin’s (BCH) price and market cap are close to 14% of the legacy BTC’s market valuations. 

  BCH/USD Technical Indicators

Technical indicators show on the daily, weekly, and 4-hour charts that BCH is positioned to continue its rally. The two Simple Moving Averages (100 SMA & 200 SMA) on the 4-hour chart are about to cross hairs with the short term 100 rising above the longer term trendline. This indicates the path to resistance will be on the upside which could lead to higher price ranges in the short term. At the moment prices are overbought according to the Relative Strength Index (RSI) which is meandering around 70.

Markets Update: Bitcoin Cash Prices Up Over 60% This Week
At the time of writing on Sunday, April 22, 2018, at 2:30 pm EDT one BCH is averaging around $ 1,253 per coin.

Meanwhile, the MACd is relentlessly headed northbound so a drop in price after bulls hit resistance may soon follow this run-up. Bulls have to muster up some more strength from the current vantage point all the way to $ 1,290 range to get some smoother seas and less sell walls. On the backside, there are solid foundations all the way back to $ 1,145 and more pit stops before the sub-$ 1,100 territories.

Markets Update: Bitcoin Cash Prices Up Over 60% This Week

BCH Infrastructure and Support Grows This Week

Bitcoin cash infrastructure and support have increased again this week as the firm Bitpay has added more BCH features to its merchant services solution. The exchange Coinmama recently added BCH and LTC to the trading platform. Meanwhile, the firm Cheapair.com’s CEO detailed how it would likely be using Bitpay over Coinbase for merchant services and will be accepting BCH. Additionally, the bitcoin cash community has been very excited about a new BCH micro-transaction powered social media system called Memo. The platform allows users to follow other profiles feeds and makes content sharing immutable by utilizing the BCH chain. Lastly, the mining operation Antpool revealed this week it would be burning 12 percent of BCH fees in order to bolster digital scarcity.

Where do you see the price of BCH headed from here? Let us know in the comments 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, Shapeshift, Coin Salad, Trading View, and Coinmarketcap.


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

The post Markets Update: Bitcoin Cash Prices Up Over 60% This Week appeared first on Bitcoin News.

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Gas prices at highest level since 2015 amid fears of another oil shock

April 15, 2018 |

Southern California drivers are paying the highest pump prices for gasoline in 2 1/2 years amid fears that prices could jump even further if the United States takes military action against Syria.

The upswing in prices reflects not only rising crude-oil prices but also a higher state gasoline tax,…


L.A. Times – Business

Pantera Capital Predicts Record BTC Prices Within 12 Months

April 15, 2018 |

Pantera Capital Management, a leading investor in the cryptocurrency sector, has predicted with “strong conviction” that bitcoin has established a local bottom. The fund anticipates that $ 6,500 will comprise the low of the current bear market, anticipating that the markets are likely to break into new all-time highs within 12 months.

Also Read: These Countries Won’t Tax Your Bitcoins Too Much

Pantera Predicts Imminent Bitcoin Bounce

Pantera Capital, an investment firm exclusively operating in the cryptocurrency and distributed ledger technology sectors, has published a letter predicting that bitcoin has established the low for its current bear market. Pantera cites a number of factors as informing its market outlook.

The letter partially attributes the recent sell-off to “unintended tax selling.” The letter describes a hypothetical scenario in which a trader has a “great year [..] actively selling” crypto, before, to their surprise, “Come the spring their tax account tells them that every sale at a profit created a taxable gain with taxes due by April 15th.” Pantera adds that “There were $ 300 billion of capital gains created last year,” emphasizing the likelihood that “a decent chunk” of selling pressure may have been triggered by traders quickly pulling money out of the markets in order to meet their tax obligations.

The company also notes that recent “news about the [United States Securities and Exchange Commission (SEC)]” had minimal effect on market sentiment. “[T]he fact that the market didn’t react negatively,” Pantera asserts, “suggests we’ve reached a local, if not global bottom.” In Pantera’s eyes, the markets upward movements in the “subsequent 24 to 48 hours” after the SEC’s recent announcements indicated that the markets have “reached peak negativity,” indicating “at least a midterm bottom.”

Pantera Bullish Long Term

Pantera describes its positions in crypto as being “in the first innings of a multi-decade trade.”

The letter states that $ 6,500 is “likely the low for this bear market,” predicting that although “It could briefly go below that […] the vast majority of the next 365 days will be above that price.” Pantera also states that “It’s highly likely” for the price of bitcoin to exceed its previous record highs of $ 20,000 “within a year,” asserting that “A wall of institutional money will drive” the growth in price.

Pantera also points to bitcoin’s recent cross below its 200-day moving average. The fund describes the indicator as a “rare buy signal,” adding that, historically, “if you invested $ 100 on the day that the bitcoin price crossed below its 200-day moving average and sod a year later, your total return would be 285%.”

When do you think the bitcoin markets will next produce record highs? Share your predictions in the comments section below!


Images courtesy of Shutterstock, Pantera Capital


At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.  

The post Pantera Capital Predicts Record BTC Prices Within 12 Months appeared first on Bitcoin News.

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Bank and technology stocks fall; oil prices climb to a 3-year high

April 11, 2018 |

Companies including banks and technology and healthcare firms fell Wednesday, the day after U.S. stock indexes surged. Oil prices hit a three-year high after President Trump tweeted that the United States will launch missiles at targets in Syria.

Aside from energy companies, stocks were slightly…


L.A. Times – Business

Markets Update: BTC and BCH Prices Continue to Slide

April 6, 2018 |

Markets Update: BTC and BCH Prices Continue to Slide

Cryptocurrency values are still slumping downwards as they have been for the past three consecutive months. Currently, the overall cryptocurrency market valuation of all 1,500+ digital assets is $ 248Bn after losing billions over the past few days. BTC/USD markets are below the $ 7K territory and recently touched a low of $ 6,510 per coin.

Also read: Huobi’s Sentiment Index Shows Cryptocurrency Investors Still Bullish

The Dumping Continues to Plague Cryptocurrency Markets

Markets Update: BTC and BCH Prices Continue to SlideThe dumping continues to ensue as markets are still feeling the effects of a bearish phase the past few months. So far BTC/USD values have not yet double bottomed to the $ 5,900 low point but have been meandering awfully close to that price region. Today BTC volumes are weaker than usual as the past 24-hour trade volume has shaved a billion and rests at $ 4B right now. The top five exchanges swapping the most BTC includes Bitfinex, Okex, Binance, Bitflyer, and Huobi. All of the trading platforms are seeing much lighter trade volumes than our recently published Markets Update.

The Japanese Yen Comes Close to Capturing 60% of Global BTC Trades

One striking metric during today’s trading sessions is the amount of trade volume with BTC against the Japanese yen. The yen currently captures 57 percent of the global trade volume today with the USD falling behind (21%). Below the USD is tether (USDT 12.6%), the euro (3.1%), and the South Korean won (2.8%). BTC prices have a market cap dominance level of 45 percent out of the $ 248Bn and all 1500+ assets are swapping a measly $ 10.5 billion today.   

BTC/USD Technical Indicators

Technical indicators show buyers are trying to breach past the $ 6,600 zone but have been unsuccessful so far. Most of yesterday’s trading sessions remained sideways at $ 6,800. Today there’s a touch of bullish action happening at the moment looking at the 4-hour BTC/USD chart but it’s not much. Both Simple Moving Averages (SMA) are again spread with the 100 SMA well below the long-term 200 SMA trendline. Both Macd and RSI Stochastic oscillators have been sliding southbound following the bearish divergence. Order books show that walls above the $ 7,600-8,200 zones are not too bad but bulls need to accumulate momentum to take the price to those levels. On the back side, BTC/USD order books show some really strong support around the $ 5,900 range once again. That specific foundational support flows all the way to the $ 5,400 range and traders can expect pit stops in those areas.

Markets Update: BTC and BCH Prices Continue to Slide

Bitcoin Cash Markets Nurse Deep Price Wounds and Flat Volumes

Markets Update: BTC and BCH Prices Continue to SlideBitcoin cash (BCH/USD) markets are down 4 percent and the price is hovering just above the $ 600 territory at the time of publication. Volume is flat for global trade volumes as the BCH market has traded only $ 228Mn over the past 24-hours. The top five exchanges trading the most bitcoin cash during today’s trading sessions includes Hitbtc, Lbank, Okex, Huobi, and Bit-Z. Bitcoin core (BTC) trades against BCH is the most prominent currency pair today as the currency captures 54 percent of exchanges. This is followed by the USD (18%), tether (USDT 17.2%), the South Korean won (3.7) and Binance Coin (BNB 2.2%). Bitcoin cash is the eighth most traded cryptocurrency today by volume and the market holds a $ 10.3Bn market capitalization.

BCH/USD Technical Indicators

BCH/USD charts also show a significant bearish divergence as bitcoin cash has lost roughly $ 50 in USD value per coin since yesterday. Just like BTC, the SMA trendlines for BCH/USD markets are very similar as there’s a gap in between the 100 SMA and 200 SMA. The 100 SMA is well below the 200 SMA which indicates the path to resistance will be on the downside. Looking at the 4-hour window shows RSI Stochastic oscillators also indicate some bearish short-term sentiment. BCH/USD order books show much tougher buy and sell walls. There’s some solid resistance from the current vantage point of $ 650-675. On the backside, there are strong foundations between the $ 575 and $ 540 territories.

Markets Update: BTC and BCH Prices Continue to Slide

The Verdict: In the Real World Spring is Approaching but the Dreaded ‘Crypto Winter’ is Still Scaring Traders

Nearly every single cryptocurrency market besides tether USDT is down in value and some digital assets are struggling to recover. One notable altcoin market the past couple days is EOS/USD which actually has seen some gains. The cryptocurrency EOS has silently captured the number six position on Coinmarketcap just behind litecoin (LTC). The bearish markets have set a thick layer of uncertainty and skepticism towards crypto markets lately. Many traders are hoping for a reversal but there haven’t been any good signals indicating a frothy comeback is in the cards. For now, most traders are either weathering the storm by ‘hodling’ or riding the waves by shorting bitcoin all the way down on exchanges like Kraken and Bitmex.

Where do you see the price of BTC and BCH heading from here? Do you think cryptocurrencies will see more gains? Let us know in the comments 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, Bitstamp, Trading View, and Coinmarketcap.


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

The post Markets Update: BTC and BCH Prices Continue to Slide appeared first on Bitcoin News.

Bitcoin News

Markets Update: Cryptocurrency Prices Begin to Sink Once Again

March 28, 2018 |

Markets Update: Cryptocurrency Prices Begin to Sink Once Again

Cryptocurrency prices have dropped considerably over the past 48 hours since our last markets update. Currently, the entire digital asset ecosystem has lost more than $ 32 billion since that time, and BTC/USD values have once again dipped under the $ 8K range.  

Also Read: 80,000 New Merchants in Europe Gain Option to Accept Crypto

BTC Sees Another Drop Below $ 8,000 USD

Markets Update: Cryptocurrency Prices Begin to Sink Once AgainTraders are seeing quite a bit of bearish sentiment within cryptocurrency markets as more than 60 percent of the top digital assets are seeing losses. BTC/USD markets are hovering just above the $ 7,800 region after losing momentum just above the $ 8K zone during today’s early morning trading sessions. BTC global trade volume is only a few million lower than our last analysis, as the past 24-hours has seen about $ 5.2Bn in trades. The top five exchanges worldwide trading the most BTC today include Bitfinex, Okex, Binance, Bitflyer, and Huobi. The Japanese yen is once again dominating the fiat pack traded with BTC as the yen has commanded over 54 percent of global trade volume. The rest of the currencies traded behind the yen include the USD (22%), tether (13.9%), the euro (3.5%) and the Korean won (2.9%). There’s around $ 14.4Bn worth of global trade volume among all 1,500+ cryptocurrencies during the past 24-hour trading sessions.

BTC/USD Technical Indicators

Looking at BTC/USD charts show bulls have shown signs of exhaustion after the price was hovering around $ 8,500+ just a short time ago. The 4-hour chart shows the Macd is heading southbound around -207.29. RSI and Stochastic have been following the same downwards pattern, however, the oscillators have started kicking upwards a bit over the past 4-hours. This indicates BTC prices are struggling at the moment with failed attempts to keep the price above $ 8K.

Markets Update: Cryptocurrency Prices Begin to Sink Once Again

Since our last markets update, the long and short term Simple Moving Averages (SMA) had crossed hairs and split, showing signs of bearish sentiment. The gap between the 100 SMA and the 200 SMA is now much more extensive, indicating the path to resistance looks to the downside. Order books show a pretty good temporary foundation until the $ 7,600 territory. After that, there’s a good amount of buyers all the way to the $ 6,900 zone. On the upside, bulls breaching the $ 8K region again, continuing to drive past $ 9K, could indicate some bullish momentum.

Markets Update: Cryptocurrency Prices Begin to Sink Once Again
At the time of publication, BTC/USD prices hover around $ 7,820.

Bitcoin Cash Markets Continue to Follow a Similar Correlated Pattern

Markets Update: Cryptocurrency Prices Begin to Sink Once AgainBitcoin cash (BCH) markets are also feeling today’s losses, as the currency is now around 890 per BCH. Over the past 24-hours, BCH trade volumes across popular exchanges is about $ 339Bn. The most traded currency swapped for BCH today is BTC (51%), and traders have seen many opportunities over the past 24-hours. This is followed by tether (USDT 25%), USD (14.4%), the South Korean won (3.2%), and Binance coin (1.6%). The leading trading platforms show a small kick upwards on the 4-hour chart. Although the jump northbound could be a bull trap in the making. Last week’s bearish divergence indicated the price of BCH could drop below $ 1K, as signs of the dip started showing just three days ago.

BCH/USD Technical Indicators

BCH/USD charts show a similar correlation to BTC/USD patterns across the 4-hour template. There’s not much difference between the two, as both cryptocurrencies are down in value compared to a few days ago. The 100 SMA and 200 SMA are similarly gapped with the short term 100 well above the 200 trendline. This indicates resistance is fierce at the moment, and, if the price of BCH doesn’t get past the current vantage point, the coin’s value could go lower. RSI and Stoch levels are seeing a temporary bounce up, but both have been heading southbound. Order books show the value should hold pretty decent between $ 825 and $ 780 per BCH. On the flip side, if bulls manage to push past resistance during the eastern side of the world’s trading sessions there will be some pit stops around $ 910 and $ 1K. 

Markets Update: Cryptocurrency Prices Begin to Sink Once Again
At the time of publication, BCH/USD prices are roughly $ 877 per coin.

The Verdict: Crypto-Traders Uncertainty and Doubt Remain

As mentioned in our last markets update, traders have been uncertain after the BTC/USD price dropped, trying to stay above $ 9K. Shorts (betting against the price) started stacking up on exchanges like Bitmex and other trading platforms, offering margin trading. Long (betting the value will be bullish) contracts have slimmed as well over the past weekend. Regulatory FUD has lessened a touch in the news but overall the past few months of doubt still plagues cryptocurrency markets today.

Where do you see the price of BTC and other digital assets heading from here? Do you think cryptocurrencies will see more gains? Let us know in the comments 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, Bitstamp, Trading View, and Coinmarketcap.


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

The post Markets Update: Cryptocurrency Prices Begin to Sink Once Again appeared first on Bitcoin News.

Bitcoin News

After years of dropping airfares, a study predicts prices will inch up 1% this year

March 24, 2018 |

Over the last few years, airfares for domestic flights in the U.S. have been on the decline, dropping as much as 7% a year. But that trend may be coming to an end.

A forecast by a global travel consultant predicts airfares in North America will inch up by 1% this year, while hotel rates will jump…


L.A. Times – Business

BTC Prices Below $8K Could Spell Disaster for Bitcoin Miners

March 18, 2018 |

BTC Prices Below $  8K Not Good for Some Miners

According to a study conducted by Wall Street analyst, Tom Lee’s agency, Fundstrat, BTC prices below the $ 8K range make it awfully difficult for miners to gain revenue. Lee details that at a global average rate of six cents per kilowatt-hour, some BTC miners are either breaking even right now or mining the cryptocurrency at a loss.

Also Read: New York Power Companies Can Now Raise Rates for Bitcoin Miners   

Break Even Revenues and Losses

The price of bitcoin and several hundred other cryptocurrencies are suffering from the largest drop in value in well over a year. 2017 turned out to be a phenomenal run the entire year but after the new year, things started looking quite bearish. BTC’s value, in particular, is hovering just above the $ 7,500 zone at the time of writing and at that global average some miners are mining bitcoin at break-even costs or even running operations at a loss.

Fundstrat’s Tom Lee explains his team has devised a model that incorporates multiple factors including equipment cost and performance, electric costs, and other types of overhead. The Fundstrat research report explains:   

Bitcoin currently trades essentially at the break-even cost of mining a bitcoin, currently at $ 8,038 based on a mining model developed by our data science team.

BTC Prices Below $  8K Not Good for Some Miners
The price of BTC on March 17, 2018, 11:20 pm EDT.

Competing With China Means 4 Cents or Less

The research model is based on a global average of six cents per kilowatt-hour. There are definitely some areas in the world such as China that offer far cheaper electric rates. China’s rates for power can be 4 cents or less per kilowatt-hour. Other regions in the world that offer cheaper methods of power production like hydropower can also offer competitive rates as well.

BTC Prices Below $  8K Not Good for Some Miners
BTC fees per transaction.

There are also other reasons involved with the loss of BTC mining revenue besides the 60 percent drop in value. Fees have dropped per transaction as well which is another form of revenue for miners. Back when the price was around $ 18-19K fees were also astronomical as the average median transaction fees were upwards of $ 30-40 USD per 226-byte transaction. The average BTC fee has been relatively lower as today on March 17 is $ 1 per transaction according to Bitinfocharts. According to Blockchain.info charts mining revenue peaked on December 15 one day before BTC touched a global average of $ 19,600 USD.

BTC Prices Below $  8K Not Good for Some Miners
Miner revenue.

25 Exahash: Far More Miners Have Skin in the Game

The last time BTC miners suffered from break-even prices and even losses was around January 2015 when the cryptocurrency started climbing above $ 200 per coin. Coincidently it marked the end of the year-long 2014 bear run when BTC was named “worst currency of the year.”

BTC Prices Below $  8K Not Good for Some Miners
25 exahash per second

Things were a lot different then as there weren’t as many miners vested in the game back then as the network was operating at less than 1 exahash per second. Lots of miners have skin in the game now as the BTC network has exceeded 25 exahash and the average lately is usually 20. Lee’s model details that if miners see prices around $ 3-4K per BTC then a lot of miners will likely be forced to shut machines down.

What do you think about miners breaking even or suffering losses? Let us know what you think about this subject in the comments below.


Images via Pixabay, Bitinfocharts, Blockchain.info, and GDAX. 


At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

The post BTC Prices Below $ 8K Could Spell Disaster for Bitcoin Miners appeared first on Bitcoin News.

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Consumer Complaints Rise 669% After Crypto Prices Decline

March 17, 2018 |

Consumer Complaints Rise 669% After Crypto Prices Decline

Just recently a consumer research group called Valuepenguin did an analysis on complaints filed with the Consumer Financial Protection Bureau (CFPB) between June 1, 2017 and March 1, 2018. According to the study, after the significant 50-60 percent downturn in cryptocurrency values, consumer complaints surged by 669 percent.

Also Read: Israeli Supreme Court Forbids Bank From Denying Service to Bitcoin Exchange

Crypto-Consumer Complaints Rise by 669%

Cryptocurrencies reached all-time highs last year and BTC/USD markets touched $ 19,600 per coin on December 16th. Since then a lot has changed as most crypto-assets have lost at least half or more of their fiat value since that date. The consumer analysis group Valuepenguin decided to do a study on the number of complaints filed with the CFPB between June 1, 2017, and March 1, 2018. The results were staggering, showing a 669 percent increase in consumer complaints after the prices of digital currencies dropped in value this year.

Consumer Complaints Rise 669% After Crypto Prices Decline
Consumer complaint chart against the BTC/USD chart.

It Seems Customers Want Their Money When They Want It

Some key takeaways from researcher David Ascienzo’s Valuepenguin study detailed the biggest complaint, by more than 40 percent of the files, showed dissatisfied customers who were unable to withdraw their funds. 32 percent of the issues derived from transaction issues and fraud complaints. Transaction problems included long wire transfer delays and a lot of gripes were directed at crypto-businesses and the lack of customer service.  

“Money being unavailable was the number one complaint and consumers struggled to transfer and trade their cryptocurrencies at a critical time — Complaints spiked to a climax during the week where price decline was steepest,” explains Ascienzo’s findings.

Higher numbers of complaints rolled in just as prices started crashing, reaching a climax during the week of sharpest descent. Even then, BTC prices didn’t fall anywhere near where they were in the earlier half of 2017, but the data shows an array of negative experiences for consumers struggling to manage their coins when it mattered the most.

Consumer Complaints Rise 669% After Crypto Prices Decline
The top 5 consumer issues with cryptocurrency companies.

Beefing Up Customer Support

One company that was highlighted during the research was the San Francisco cryptocurrency firm Coinbase. The Valuepenguin study even highlights a few quotes from some of the customer complaints directed at Coinbase. The complaints against the digital currency firm emphasized withdrawal and deposit issues. News.Bitcoin.com also reported on the study Lend EDU did this past August that showed the first signs of increasing consumer complaints, and Coinbase was at the top of the list. However, the head of customer support at Coinbase, Tina Bhatnagar, announced on March 1 that the company was hiring 500 customer support agents this year.

“My first, and most obvious observation was that we needed more people to handle the inbound volume of support requests and a solid plan to handle any spikes in volume, Bhatnagar stated at the time. Our first group of 90 new agents will start on March 5th and we will be adding a group of agents every week until we hit our goal of 500 in late May.”

The latest study also shows some consumers were unable to access funds as much as $ 100,000 USD. Moreover, according to the Ascienzo’s research, the cryptocurrency companies had managed to close all of the complaints filed. Complaints submitted to the CFPB were closed with an explanation from the company, but the research could not tell if any customers received any restitution. The author notes that all the data was derived from the public CFPB databases and he used bitcoin historical prices from the website Coinmarketcap.

What do you think about complaints rising by 669 percent? Let us know what you think about this subject in the comments below.


Images via Shutterstock, Pixabay, and the Valuepenguin study.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Consumer Complaints Rise 669% After Crypto Prices Decline appeared first on Bitcoin News.

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