Tuesday, November 20, 2018

Crash Continues / Bakkt Delay / Twitter Scams / Stellar

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$BTC (1:10 p.m. EST): $4,571.03 (-10.06%) // 90-day high: $7,382.19 // 90-day low: $4,248.12 / / More

$BCH ABC (1:11 p.m. EST): $237.62 (-31.53%) // 90-day high: $703.41// 90-day low: $200.13 // More

$ETH (1:11 p.m. EST): $136.85 (-11.61%) // 90-day high: $365.71 // 90-day low: $127.89 // More

$LTC (1:12 p.m. EST): $33.92 (-8.38%) // 90-day high: $74.80 // 90-day low: $32.41 // More

$XRP (1:12 p.m. EST): $0.44 (-9.57%) // 90-day high: $0.61 // 90-day low: $0.26 // More

Here are the 10 most important stories about bitcoin and cryptocurrencies today

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1. The price of bitcoin continued to drop on Tuesday, falling below $4,250 for the first time since September 2017. While the price has rebounded slightly as the day has gone on, the coin has still seen a roughly 30 percent decline for the past week. The plunge came after weeks of rare stability for the coin, which has now lost 65 percent of its value from the beginning of the year. Bitcoin's plunge – and that of other major cryptos – has coincided with the sliding of other global markets this week. –CNBC

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2. Bakkt will postpone the launch of its bitcoin futures trading platform until January. Run by the Intercontinental Exchange, Bakkt was expected to launch futures trading in December. The delay will provide additional time for customer and clearing member onboarding, the company said. The new date – set for January 24 – is still subject to regulatory approval before becoming set. –COINDESK

Launch date for bakkt pushed back
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3. Twitter claims that last week's rash of cryptocurrency "giveaway" scams were from hacked third-party provider, and not Twitter itself. The company said a loophole in an unnamed app gave hackers the ability to hack into the accounts of well-known brands like Target in an attempt to scam customers. The scammers asked non-savvy Twitter users to send small amounts of crypto for the chance to win big. –CCN

Twitter claims last week's giveaways were from third-party breach
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4. Stellar has overtaken bitcoin cash as the world's fourth-largest cryptocurrency. Even though stellar lost 13 percent of its value in the last 24 hours as part of the market crash, bitcoin cash has lost more than half its value in the past week. Bitcoin cash's dive coincides with the hard fork last week. The coin was trading at more than $200 on Tuesday after selling for more than $630 earlier this month. –FORBES

Stellar overtakes bitcoin cash
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5. The value of bitcoins handled by major payments processes has dropped more than 80 percent in the past year. –REUTERS

6. It is getting ugly on Reddit: "Panic time," wrote one user. –FINANCIAL TIMES

7. Ever the optimist, Fundstrat's Tom Lee believes bitcoin can hit $15,000 per coin by the end of the year. –CNBC

8. Craig Wright goes on the attack again, claiming XRP is illegal and ethereum is useless. –ETHEREUM WORLD NEWS

9. A poll from Ron Paul showed that his Twitter followers prefer bitcoin as a long-term investment to other popular options. –NEWS BTC

10. Bitcoin's famed volatility will make stablecoins more attractive to institutional investors. –FORBES

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Written and curated by David Stegon. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon.

Editing team: Lon Harris (editor-in-chief at Inside.com, game-master at Screen Junkies), Krystle Vermes (Breaking news editor at Inside, B2B marketing news reporter, host of the "All Day Paranormal" podcast), and Susmita Baral (editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).

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