bitcoin Business News Cryptocurrency News General Electric Op-ed 

GE Pension Failure Could Send Investors into Arms of Bitcoin

General Electric (GE) has decided to freeze its pension plan, removing two of the key features that have come to be associated with retirement savings – secure and guaranteed – for tens of thousands of employees. GE isn’t the first company to pull the plug, but as one of the oldest traditional companies in corporate America, it sends a strong signal to employees that they can no longer bank on their employer for retirement benefits. Now, instead of shouldering the risk for employees, GE will essentially shift that risk back…

Read More
bitcoin Cryptocurrency News 

Bitcoin Price Target Sinks as Traders’ Gloom Worsens

A short term trend reversal for bitcoin has become increasingly unlikely for bitcoin following a 5% drop in less than three days. Since October 1, the bitcoin price has fallen from $8,532 to $8,100 against the U.S. dollar. Technical analysts anticipated a relief rally to key resistance levels found at around $9,000 as bitcoin initially rebounded from $7,700 to $8,532. With the declining daily volume of the asset and no short term catalysts in sight, traders are preparing for yet another drop to the mid-$7,000 region. Choppy waters, gloomy sentiment…

Read More
bitcoin Bitcoin in Media Cryptocurrency News Mark Cuban Opinion Shark Tank 

Mark Cuban’s Bizarre Bitcoin Rant Includes Baseball Cards and Bananas

Tech billionaire and Shark Tank personality Mark Cuban launched a savage takedown of bitcoin in a Wired video this weekend. He reeled off a list of well-trodden criticisms of the cryptocurrency, comparing it to baseball cards and slamming its ‘lack of intrinsic value.’ In a truly bizarre statement, he said he’d rather own bananas than bitcoin. Last time I checked, bananas weren’t the best-performing asset of the decade. Billionaire Mark Cuban: Bitcoin has ‘no intrinsic value’ Cuban began his remarks by comparing bitcoin to baseball cards. “Here’s the thing about…

Read More
bitcoin Bitcoin Trading Cryptocurrency News 

Why Analyst Says Bitcoin Price Likely to Recover to $9,000 After 23% Pullback

The bitcoin price (BTC) fell by more than 23 percent against the U.S. dollar in the past week, triggering a fierce correction in the cryptocurrency market. Since falling to $7,700, the bitcoin price has recovered to $8,200, critically avoiding a steep drop to the low $7,000 region to test low-level supports in the short term. The bitcoin price (BTC) has historically risen after CME bitcoin futures expiration, which could trigger a cryptocurrency market recovery. | Source: Luke Martin Luke Martin, a cryptocurrency trader, said that an upside to $9,000 is…

Read More
Cryptocurrency News Nicolas Maduro petro venezuela 

Maduro Mandates Petro-Financed Public Housing Scheme in Venezuela

Venezuelan President Nicolas Maduro has mandated that the country’s oil-backed cryptocurrency, the Petro, must be used to fund the ‘Great Housing Mission Venezuela’ social housing program. Ildemaro Villarroel, the minister of popular power for habitat and housing – the department overseeing the housing project – confirmed that the program will be funded using the Petro. In an announcement posted on the department’s website, the minister described the financing mechanism as offering greater guarantees that the scheme’s outcomes will be achieved: “We tell President Nicolás Maduro that we continue to follow…

Read More
bitcoin Bitcoin Analysis Cryptocurrency News Warren Buffett 

Warren Buffett has Enough Spare Cash to Buy Two-Thirds of All Existing Bitcoin –

Warren Buffett isn’t much of a bitcoin fan. He’s called it rat poison squared, a gambling device, delusional, and a seashell with no inherent value. But, if he wanted to, he could become the biggest bitcoin whale of them all. Buffett could buy two-thirds of the existing BTC supply… in cash. Warren Buffett’s investment firm Berkshire Hathaway reported a record $122 billion cash pile in a recent filing. That’s about two-thirds of bitcoin’s current market capitalization of $177.6 billion. Sidenote: obviously, this isn’t actually possible. Only a small portion of…

Read More
bitcoin Cryptocurrency News north korea Op-ed 

North Korea Jumps The Cryptocurrency Shark By Announcing Its Own Bitcoin –

In the world of cryptocurrency and bitcoins, which I consider to be a bubble worse than the Dutch tulip craze of the 1600s, there could only be one thing worse. That would be saying something because as I’ve argued repeatedly here at CCN, bitcoin is vapor. There is nothing to back it, it isn’t money, there is no rhyme or reason for the price that it trades at in the market, and is nothing more than gambling in a casino that has worse odds than Las Vegas. While supporters of…

Read More
bitcoin Bitcoin Analysis Bitcoin Research Cryptocurrency News Op-ed 

Bitcoin Is Ideal Hedge Amidst Rising Global Uncertainty –

Many claim that bitcoin is the “new gold.” However, BTC is not correlated with any asset, including gold. Hence, it’s a good hedge. | Source: Shutterstock The U.S.-China trade war, the Hong Kong protests, and now the attack on Saudi Arabian oil producer Aramco – these events add more pressure to financial and commodity markets that already look overextended; stocks are trading close to all-time highs. On top of that, central banks are slashing interest rates and printing money while the real-estate market is still overpriced. Stocks, bonds, and property…

Read More
Art Cryptocurrency News Lincoln Townley tokenization 

U.K. Artist Disrupts Art Industry With Cryptocurrency –

A U.K.-based contemporary artist has just sold his best collection for 490 bitcoin. | Image: Shutterstock. United Kingdom-based contemporary artist, Lincoln Townley, has announced the sale of a 19-painting collection to a Singaporean investor in exchange for 490 bitcoin (BTC). Speaking with CCN, Townley stated that the deal was made when BTC was priced at approximately £9,000 (roughly $11,000), valuing the sale at approximately £4.41 million ($5.39 million). The artist described it as “an interesting deal” that “came from an investment angle,” adding that he sees “huge potential” in cryptocurrency….

Read More
Australia Australian Securities and Investments Commission Bitcoin Regulation Cryptocurrency News 

Australia’s Securities Cop Braces for ‘Significant Increase’ in Crypto Trading –

Australia’s financial watchdog has keeping ahead of the pack with crypto regulations. | Source: Shutterstock The Australian Securities and Investments Commission (ASIC), the country’s financial regulator and watchdog, is gearing up for the rapid growth of crypto-asset markets. Speaking to CCN, an ASIC spokesperson indicated that the regulator has identified “significant increases” in cryptocurrency trade volume recently, prompting the regulator to prepare for further expansion in the markets. The spokesperson also revealed that ASIC is actively “sharing information with domestic and international regulators” concerning the “taxation, anti-money laundering, payment systems,…

Read More