Blockchain-Powered IPO Platform to List First Company in June

SprinkleXchange, a blockchain-powered initial public offering platform, is preparing to list its first company in June, Bloomberg reported on May 17. According to Alexander Wallin, the bourse’s CEO, it is hoped that up to 1,000 companies will join over the next three to four years. The Ethereum blockchain is used for settlement and clearing, and its users will be able to trade listed companies and cryptocurrencies 24 hours a day. Switzerland’s SIX stock exchange is also planning to launch a blockchain-powered digital exchange, which will be powered by blockchain consortium…

JPMorgan Tries Fear-Mongering in Attempt to Sabotage Bitcoin Price Rally

By CCN: JPMorgan doesn’t love bitcoin. The bank – the United States’ biggest financial institution by assets – has been historically pessimistic about the flagship cryptocurrency, so just when bitcoin prices started going through the roof, it decided to crash the party with a dire warning. #Bitcoin prices diverge from intrinsic value, carrying echoes of late 2017, JPM says. pic.twitter.com/DImDoSMv8L — Holger Zschaepitz (@Schuldensuehner) May 17, 2019 JPMorgan makes yet another effort to sabotage bitcoin The crypto winter gave JPMorgan’s bitcoin bears reason to cheer earlier this year. The Wall…

Dutch Bank ABN AMRO Abandons Wallie Custodial Bitcoin Wallet Citing Risk Concerns

Dutch bank ABN AMRO abandoned its plans to launch a custodial bitcoin (BTC) wallet dubbed “Wallie” because of risk concerns, according to a report published on May 20 by tech news outlet The Next Web. Per the report, the bank’s senior press officer, Jarco de Swart, said in an email to the outlet that the bank decided not to continue its plans after it “concluded that cryptocurrencies because of their unregulated nature are at the moment too risky assets for our clients to invest in.” The rumors concerning alleged tests…

First Since 2017: Bitcoin Price Logs Double-Digit Gains for Third Week

View Bitcoin has recorded double-digit gains for three consecutive weeks, a feat last seen during the height of the bull market in 2017. BTC’s quick recovery from Friday’s low of $6,178 indicates “buy the dip” mentality is quite strong. Further, the daily and weekly charts are biased bullish. Prices, therefore, could rise to $8,500 (July 2018) this week. Before such a rise, however, we may see a correction to $7,500–$7,200, according to the hourly chart. The short-term outlook would turn bearish only if prices find acceptance below the 30-day moving…

Bitcoin Has Soared Above Intrinsic Value During Latest Rally, JPM Strategists Claim

Strategists from United States banking giant JPMorgan Chase (JPM) have argued that bitcoin (BTC)’s recent rally has ostensibly soared past what they calculate to be its intrinsic value. Their analysis was reported by Bloomberg on May 20. The strategists — who reportedly include JPMorgan global market strategist Nikolaos Panigirtzoglou —  judge that the top coin has recently been trading in a way that mirrors its late 2017 rally, which preceded a protracted price slump. To ascertain the coin’s intrinsic value, the strategists reportedly analyzed bitcoin as a commodity and calculated its…

Bitcoin Price Skyrockets to 2nd-Best Quarter in 5 Years; Record High Next?

By CCN: Bitcoin price is on track to having its second-best quarter since 2014 with a 92 percent gain within two months if it remains above $8,000 by the end of June. Since April 1, in about a month and a half, the bitcoin price has increased from $4,100 to $8,000, by nearly two-fold against the U.S. dollar. $BTC current quarter ranks as the 2nd highest quarterly gain since 2014 and the 7th highest quarterly gain all-time pic.twitter.com/bNTohKJREw — Josh Olszewicz (@CarpeNoctom) May 19, 2019 At its lowest point in…

Bitcoin News Summary – May 20, 2019

Here’s what happened this week in Bitcoin in 99 seconds. Crypto markets this week reached their highest level since August of 2018. Markets then corrected downwards, however, sentiment is still bullish, with major news networks covering the resurgence of crypto. Bitcoin, Ethereum, BCH, and Gemini exchange’s US Dollar-based stablecoin can now be used to purchase goods from Starbucks, Whole Foods, Nordstrom and many more retailers. The US-based payments service, Flexa in collaboration with Gemini confirmed that their new crypto app, Spedn, will enable instant crypto payments in participating stores. It…

Bitcoin (BTC) Price Targets Additional Gains: Dips Remain Supported

Bitcoin price started a fresh increase after forming a support base above $6,900 against the US Dollar. The price gained bullish momentum above $7,400 and settled above the key $7,650 pivot level. There is a major bullish trend line forming with support near $7,610 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains well supported on the downside above $7,600 and it could soon break $8,200. Bitcoin price is positioned nicely in the positive zone above $7,600 against the US Dollar. BTC could correct…

Crypto Market Following Strong Uptrend: Bitcoin Cash, XLM, EOS, TRX Analysis

The total crypto market cap recovered sharply after testing the key $210.0B support area. Bitcoin price jumped back above the $7,800 and $8,000 resistance levels. Bitcoin cash price is up more than 5% and it recently broke the key $400 resistance. EOS price is now trading above the $6.00 and $6.15 support levels, with a positive bias. Stellar (XLM) price is currently consolidating gains above the $0.1300 and $0.1320 levels. Tron (TRX) price is slowly moving higher towards the key $0.0300 resistance level. The crypto market cap is gaining momentum,…

Ripple (XRP) Price Near Make-or-Break Levels: Can Bulls Take Over?

Ripple price formed support near the $0.3610 level and recently recovered against the US dollar. The price traded towards $0.4300 and it is currently correcting lower towards $0.3900. There is a short term rising channel forming with support near $0.3950 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to bounce back above $0.4100 or could decline sharply towards the $0.3610 support. Ripple price seems to be following a decent bullish path against the US Dollar, but struggling vs bitcoin. XRP is likely…