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Apr 9, 2018

ADVFN Weekly Cryptocurrency News

ADVFN Cryptocurrency News


Cryptocurrency Weekly News 9 April 2018

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I was all prepared to write about how the Bitcoin price had recovered somewhat over the weekend, then this morning it suddenly took another tumble – so the roller-coaster continues!

Looking at the last week, it reached a high of $7,509 on Tuesday before falling to a low of $6,503 on Friday. After this morning’s fall, at the time of writing the price is $6,706.

Here’s the chart for the last week:

Bitcoin chart

 

What does the future hold for the Bitcoin price? One commentator thinks the future is bright, and gives three reasons why the price will rise this year.  Find out what he says on ccn.com

A Hong Kong crypto entrepreneur agrees that nobody needs to panic about the recent price swings; they are just par for the course for anything new. Read his thoughts on ccn.com

 

 

ADVFN’s Cryptocurrency page gives you prices for Bitcoin and altcoins

 

 

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Other Cryptocurrency News

 

George Soros has come out in favour of cryptocurrencies. The billionaire investor is about to start trading in them – or at least his Soros Fund Management is going to begin trading in cryptoassets. Read the details on Bloomberg

 

But another billionaire is still firmly against cryptocurrencies. Mark Cuban, the tech billionaire who owns the Dallas Mavericks, hates both gold and Bitcoin. He says neither are viable alternatives to currency. Watch a video of an interview he gave to Kitco News here

 

The days of people becoming overnight millionaires by trading in cryptocurrencies are fading fast, says an analyst – and that’s a good thing for the long-term prospects of the market. Read the story on Market Watch

 

Crypto trading is being carried out outside of the volatile online exchanges by trading firms using Skype to buy, sell and lend digital currencies. Read the story in the New York Times

 

During last year’s Bitcoin speculative surge more than 150 hedge funds started up to deal in the cryptocurrencies, but now demand and profit are drying up so they are starting to close. Bloomberg has the details

 

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Coincheck, the Toronto-based cryptocurrency exchange that suffered the largest-ever digital currency theft last year, has agreed to accept a takeover offer from Japanese online brokerage Monex Group. The chief operating officer of Monex, Toshihiki Katsuya, will take over as the new president, in an attempt to regain investor trust. Get the story from Nikkei

 

Four executives from South Korean cryptocurrency exchanges have been detained on suspicion of embezzling customer’s funds totalling tens of millions of dollars. Read the story on ccn.com

 

India has banned banks from processing cryptocurrency purchases, or providing services to businesses “dealing with or settling” virtual currencies, according to a press release from the Reserve Bank of India (RBI). Read the story on ccn.com

 

But wait a moment… follow-up stories ramp back the panic by pointing out that the RBI is not a legislative body, and although it can set directive regulations for bodies that come under its authority, it can’t control or penalise other businesses or individuals. Any law banning the use or trade of cryptocurrencies would have to come from the government itself. Get the details from The Next Web

 

Growing demand from students has led to top business schools adding cryptocurrency and blockchain modules to their MBA classes. Wharton School of the University of Pennsylvania and Stanford Business School are among the schools offering crypto-related classes to the curriculum. Get the details on ccn.com

 

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The Financial Conduct Authority (FCA), the UK’s financial regulator and markets watchdog, will publish a review on cryptocurrencies later this year, saying, “We will work with the Bank of England and the Treasury as part of a taskforce to develop thinking and publish a Discussion Paper later this year outlining our policy thinking on cryptocurrencies.” Read the story on ccn.com

 

In the US tax deadline day is looming, so crypto miners need to know whether they need to declare their gains and pay tax on them. The answer can be found in this useful guide on CryptoSlate

 

More useful information about taxes and crypto can be found in this Coindesk article

 

Some rogue websites will hijack your computer’s processing power to mine cryptocurrencies for the owner. But how widespread is this practice – how many websites are running crypto mining scripts? Tim Soulo of Ahrefs tried to find out. Read his results on the Ahrefs website

 

Finally, a Bitcoin primer as told using stock photos, thanks to The Atlantic

 

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New Book on Cryptocurrencies out now
from Clem Chambers

The CEO of ADVFN, Clem Chambers, has a new book on cryptocurrencies out now in paperback and for the Kindle. Click here to buy the book from Amazon

 

Trading Cryptocurrencies: A Beginner’s Guide - Bitcoin, Ethereum, Litecoin is an invaluable guide to making money in cryptocurrencies: how they work, how to invest in them, trading cryptocoins, mining, and the technical details behind them.

 

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CME Bitcoin Futures

ADVFN (LSE:AFN) is now offering free CME Bitcoin Futures data to its four million registered users.

Anyone visiting the ADVFN site can obtain quotes, view charts and access real-time news for CME Bitcoin Futures here. Users can add these contracts to their portfolios and see bid, offer, highs, lows and current prices along with traded volumes. They can also view them on their monitor pages alongside their other investments.

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