Ethereum Price Analysis: ETH Holding Key Support, Could Bounce Soon

Key Highlights ETH price corrected lower recently and traded below the $150 support against the US Dollar. There is a major bullish trend line formed with support at $145 on the hourly chart of ETH/USD (data feed via Kraken). The pair seems to be preparing for an upward move above $152 and $156 in the near term. Ethereum price is holding key supports against the US Dollar and bitcoin. ETH/USD is likely to bounce back above $155 as long as it is above $140. Ethereum Price Analysis Yesterday, ETH price…

Overstock Will Pay Some of Its 2019 Taxes in Bitcoin

Digital retail giant Overstock.com plans to pay at least some of its taxes using bitcoin this year. The company announced on its investor portal Thursday that it would pay some of its state commercial activity taxes in Ohio using bitcoin, becoming the first major business to do so. Ohio announced last year that it would allow businesses to pay taxes in bitcoin, though the payments would be converted into dollars by a third party before the state accepted them. In a statement, Overstock CEO and founder Patrick Byrne said the…

Proof of Keys Explained: Bitcoin’s First Planned ‘Bank Run’ Is Today

Do your bitcoins really exist? The answer might seem like an obvious “yes,” but the brewing “Proof of Keys” movement, launching today, argues the answer is not so clear. How in control a person is of their coins depends on where and how the bitcoin is stored. So participants will be taking their money out of third-party bitcoin services, moving it to accounts only they themselves control. “We’re going to withdraw all our bitcoin from any third party services just to prove that they’re there,” said Trace Mayer, Proof of…

The Map Is Not the Territory: Rethinking Crypto as an Asset Class

Sid Kalla, CFA and Bradley Miles are co-founders of Roll, an open standard for social money on the ethereum blockchain. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review.  Over long time periods, bitcoin’s returns have been uncorrelated to the stock, bond or commodity markets. Even though bitcoin has been highly volatile, adding a small amount of bitcoin to a portfolio of stocks and bonds can actually improve its risk-adjusted returns (improve the Sharpe ratio). The drivers of bitcoin’s returns are very different from those of the other…

Anti-monopoly Court Rules to Keep Crypto Exchanges’ Bank Accounts Open

The Chilean anti-monopoly court has again granted protection to local cryptocurrency exchanges by forcing banks to keep their accounts open, financial news outlet Diario Financiero reported Jan. 2. According to a recent statement from Buda.com — one of the crypto exchanges affected by previously upheld banking restrictions — the anit-monopoly court known as the Tribunal de Defensa de la Libre Competencia (TDLC) has held a poll, and most of its members voted in favor of the crypto firms. The next few hearings are scheduled for February, when the TDLC will…

Bitcoin Price Analysis: Range-Bound Market Coiled for Next Move

For the better part of a month and a half, bitcoin has been fairly range-bound and unable to establish new lows or new highs. There are some bullish and bearish setups on the horizon for bitcoin, so let’s check out both sides of the argument because currently the market is sitting in the middle of Indecisionville — the most immediate sign of which is this glaringly obvious head-and-shoulders bottom reversal pattern: Figure 1: BTC-USD, Daily Candles, Head-and-Shoulders Bottom This current pattern is nothing more than a setup at the moment,…

San Francisco’s “Bitcoin Mafia”: How Bitcoin Started in the City on the Bay

The early Bitcoin community in San Francisco was originally comprised of revolutionaries: Individuals who believed in the freedom and opportunity that a permissionless distributed system would bring the world. We were widely regarded as unsavory and unpopular. Most people associated bitcoin with drugs, money laundering, and the dark web. On dates, dinner parties at friends houses or holidays with families, we were ridiculed and belittled. To believe in Bitcoin at that time, you had to be a rebel, someone who thought critically about what could be. A true believer. That…

Bitcoin Price in Near-term Bias Conflict as $4,000-Resistance Teases

The bitcoin price consolidated this Thursday as $4,000-level continued to block the rally from a breakout attempt. The bitcoin-to-dollar exchange rate dropped as much as 5.36 percent of its value since its yesterday’s high at $3,971. The pair at press time is correcting higher on moderate volumes, up 0.71 percent from its intraday low at $3,758. The US dollar rate is posting minor losses owing to poor export data from the US markets. But its benefits are visibly going to the Japanese yen the most. Bitcoin is heading towards the…

Dow Downturn Shows Market is ‘Going into a Recession’: Gluskin Sheff

The Dow Jones Industrial Average and other major stock market indices have posted steep declines during the second trading day of 2019, extending a downturn that saw them post their worst December returns since 2008. According to the top economist at Canadian wealth management firm Gluskin Sheff, these losses may have only been the beginning. Rosenberg: ‘More Than 80 Percent Chance of Recession’ Following Dow Plunge Speaking during an interview on CNBC’s “Trading Nation,” David Rosenberg, Gluskin Sheff’s chief economist and strategist, said that he believes the recent stock market…

Neutrino: A Privacy-Preserving Light Wallet Protocol

Lightning is all the rage these days and, while it’s an exciting development, users currently have to have a full node running in order to transact in it. In this article, I’m going to introduce Neutrino, a new protocol for light clients to get the data that they need while preserving privacy and without trusting a central server. A Little History In the original white paper written in 2008, Satoshi Nakamoto described something called Simplified Payment Verification (SPV). SPV is how a light node can verify payments without downloading, verifying…