HALVING BOOST: Bitcoin's scheduled mining-reward halving in May 2020 could leave prices for the cryptocurrency in a range between $20,000 and $50,000, according to Charles Hwang, managing member of the hedge fund Lightning Capital and an adjunct professor at Baruch College. Full story
TAKING ON RISK: Bitcoin mining colossus Bitmain has rejiggered its sales strategy to reverse a decline in market share following the return of co-founder Jihan Wu to the company's helm. At an event on Saturday, Wu said the firm aims to encourage miners to stick with Bitmain's products by having the company take on the risks related to cash flow, bitcoin price volatility and electricity costs. Full story
ANDROID NODE: Japan-based startup Nayuta has released a lightning network wallet with a built-in bitcoin "full node." With the new app, users can tap into lightning, a payment system built on bitcoin, either by using the baked-in full node for added security or they can switch to a simplified "SPV" version, which trades security for memory space. Full story
BANK ASSISTANCE? Telegram told investors it was using Wall Street megabanks BNY Mellon and Credit Suisse to move and store fiat currency raised in last year’s $1.7 billion blockchain token sale, court filings show. The banks declined to comment, but their apparent involvement is notable since few financial institutions have been eager to work with crypto projects due to perceived risks. Full story
TAX DEMANDS: Denmark's tax authority has been sending letters to cryptocurrency users it suspects of tax avoidance, demanding a range of information about their trading activities. In the letters, the Skattestyrelsen asks recipients to amend previous tax returns based on their crypto activities and warns of penalties for non-compliance. Full story |
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| TOUGH CEILING: Bitcoin is looking south, having again been strongly rejected at resistance over $7,600. It now risks falling to support around $7,000, especially with the daily and intraday charts supporting the bearish case. On the higher side, $7,870 remains a level to beat for the bulls. Full story |
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