Bitcoin in danger of falling below critical $6,000 level on worries over exchanges

Cryptocurrencies have lost $350 billion in value year-to-date

Bitcoin and major digital currencies were in free fall Friday with most coins shedding as much as 10%, wiping billions off the market cap of cryptocurrencies.

Bitcoin, the worlds biggest digital currency, is trading back at multimonth lows as ongoing exchange flaws continue to undermine the integrity of the market. The overnight news that Japan’s financial watchdog has hit six exchanges with orders to improve business follows two exchange hacks in the past eleven days, which saw $70 million of cryptocurrency seized.

“It’s critical that exchanges deploy top-notch security as it’s stricken confidence from the market,” said Naeem Aslam, chief market analyst at Think Markets. “It’s beyond ridiculous, and I think regulators should increase pressure on exchanges with regards to security.”

Aslam said that the hacks were doing severe damage to the reputation of both bitcoin and blockchain.

Read more: https://www.marketwatch.com/story/bitcoin-threatens-to-fall-below-6000-as-security-flaws-continue-to-dog-industry-2018-06-22

The price of Bitcoin fell to its lowest in more than four months today, losing value as it suffered from technical selling.

The world's largest digital currency by market value declined to as little as $6,081.09 on the CoinDesk Bitcoin Price Index (BPI).

At this level, Bitcoin was at its least since February 6, and it was down more than 9% in the last 24 hours, additional BPI figures show.

The digital currency suffered this sharp decline after spending much of the last week trading with relatively tight ranges between $6,300 and $6,800.

On Wednesday, Bitcoin suffered a modest decline after markets responded to news that South Korean exchange Bithumb had been hacked, falling 2.6% during the day.

However, the cryptocurrency bounced back, recovering all the losses it had suffered earlier.

After mounting this recovery, Bitcoin traded within a reasonably tight range, before suffering a sharp drop today.

Read more: https://www.forbes.com/sites/cbovaird/2018/06/22/bitcoin-declines-to-4-month-low-amid-technical-pressure/#52b945666350

​​Cryptocurrencies are in active bearish mode.

Read Crypto Weekly Recap 22.06.18: https://bokka.com/cryptocurrency-news-crypto-markets-diving-further

​After wild price swings in May, BCH is steadily trading in a narrow range.

Read Bokka Crypto Technical Analysis BCH/BTC 21.06.18: https://bokka.com/cryptocurrency-news-bitcoin-cash-consolidates-at-0-12-vs-BTC

​Price against Bitcoin approaching 0.014 BTC.

Read Bokka Crypto Technical Analysis LTC/BTC 20.06.18: https://bokka.com/cryptocurrency-news-litecoin-continues-to-slide

​Price against Bitcoin returning to 0.077 BTC.

Read Bokka Crypto Technical Analysis ETH/BTC 19.06.18: https://bokka.com/cryptocurrency-news-ethereum-holds-onto-recent-gains

Bitcoin could 'bring the internet to a halt,' banking group warns

Don't bet on bitcoin ever replacing the dollar or other traditional currencies as everyday money.

That's one of the messages from a new report by an organization that represents dozens of the world's central banks.

The group, Switzerland-based Bank for International Settlements (BIS), said the "intense interest" in bitcoin and other cryptocurrencies had prompted it to look "beyond the hype" at what use they could actually contribute to the economy.

The report's authors were unimpressed, detailing a range of problems with trying to adopt cryptocurrencies as a widely used form of money.

They include the danger that just processing all the payments "could bring the internet to a halt," said the report, which was published Sunday.

Read more: http://money.cnn.com/2018/06/18/technology/bitcoin-cryptocurrencies-internet-bis/index.html

I recently had this heated argument with a financial executive on the difference between Bitcoin and gold. He argued that they were pretty much the same thing. Gold's price has always been whatever people think it was worth. The same with cryptocurrencies.

I retorted that they are not the same. Gold is tangible. You can hold it in your hand. You know how much of it is being stored in vaults. Although the price certainly fluctuates, gold has been a store of value for thousands of years. It doesn't rust or corrode.

But what exactly is Bitcoin and its thousands of cousins? It's computer code and exists only in the imagination and in cyberspace. Its price is something borne of pure speculation. If cryptos are a store of value, what are they truly representing?

Read more: https://www.forbes.com/sites/johnwasik/2018/06/15/what-if-bitcoin-crypto-prices-are-being-manipulated/#482d55ff2350

A Cruel Storm Crashes The Crypto Market

Cryptocurrencies try to recover after this week’s bloodbath.

Read Crypto Weekly Recap 15.06.18: https://bokka.com/cryptocurrency-news-cruel-storm-crashes-crypto-market

Here’s why bitcoin is falling—and it isn’t just the Coinrail exchange hack

How low can bitcoin go? That’s the question market participants are posing as the price of the No. 1 digital asset has unraveled toward multimonth lows in recent weeks.

The value of a single bitcoin recently traded to $6,133.31 Wednesday, representing its lowest level since Feb. 5. The computer-driven currency is now down more than 40% year-to-date, raising the persistent concern about the depths to which the nascent asset, which hit a peak nearing $20,000 in December, can reach.

Analyst Jani Ziedins, who predicted the move lower, summed up market sentiment in a recent blog post. “Last week’s $9k support has turned into this week’s $8k support. And thus far it is giving every indication that $7k will become next week’s support. I hope you see the trend here,” he wrote.

Read more: https://www.marketwatch.com/story/heres-why-bitcoin-is-fallingand-it-isnt-just-the-coinrail-exchange-hack-2018-06-13

Bitcoin extended losses, bringing its four-session slide to as much as 20 percent, as questions mount about whether the world’s biggest cryptocurrency was manipulated during last year’s record price surge.

After rallying more than 1,400 percent in 2017 amid an investor frenzy for digital assets, Bitcoin is down almost 70 percent to around $6,238 as of 4:37 p.m. in New York, from its record high of $19,511 set in December. It traded at a few cents after being launched in 2009.

“Things have changed for Bitcoin and the crypto space,” said Craig Erlam, senior market analyst at online trading firm Oanda Corp. in London. “There doesn’t seem to be as much hype, or positive news. Every time we get a negative news story now -- after a period of consolidation -- we don’t see bullish sentiment come in to support it. It’s almost as if people are waiting to sell it.”

Read more: https://www.bloomberg.com/news/articles/2018-06-13/no-let-up-for-bitcoin-as-biggest-cryptocurrency-extends-decline

Is news about alleged manipulation of the Bitcoin price also manipulation?

Read Bokka Crypto Technical Analysis BTC/USD 14.06.18: https://bokka.com/cryptocurrency-news-bitcoin-holds-above-6k

So is this it?

I’ve been sat on my hands snipping away at the odd coin or two while sitting on a pile of cash waiting to buy bitcoin (BTC) at $5,000, $2,000 or even $1,500?

Market timing is always really hard, levels not so much. I’ve been clear I think these levels can be hit but it’s taken a long time for the market to look like it was in the mood for another leg of the bitcoin crash.

Read more: https://www.forbes.com/sites/investor/2018/06/13/has-bitcoin-hit-the-bottom-yet/

The second largest cryptocurrency failed to hold above the psychologically important level.

Read Bokka Crypto Technical Analysis ETH/USD 13.06.18: https://bokka.com/cryptocurrency-news-ethereum-breaks-below-500

This Could Be The Next Big Thing For The Bitcoin Price

The Bitcoin price has been struggling so far this year, this past weekend dropping more than 10% and taking its year-to-date losses to 50% of its January peak.

There's been a lot of negative news for Bitcoin and cryptocurrencies lately, from cyber hacks, dwindling transactions, sky-high power consumption, and criticism from the world's established financial industry.

But there have been some bright spots too — transaction fees are down, the number of stores accepting Bitcoin both online and in the real world are up, and regulators appear to be favouring a soft touch.

One of the best things for the Bitcoin price this year has been the interest from some of the world's biggest trading platforms and exchanges — with at least two expected to announce they will soon allow large investors to buy and hold Bitcoin.

Read more: https://www.forbes.com/sites/billybambrough/2018/06/12/this-could-be-the-next-big-thing-for-the-bitcoin-price/#58e102a733f3

Sharp decline follows negative news, after the hack of a small South Korean crypto exchange.


Read Bokka Crypto Technical Analysis BTC/USD 12.06.18: https://bokka.com/cryptocurrency-news-bitcoin-drops-to-new-lows-at-6600

Long-term investors can buy ETH while it is relatively cheap.

Read Bokka Crypto Technical Analysis ETH/USD 05.06.18: https://bokka.com/cryptocurrency-news-ethereum-starts-to-rise/

There are various strategies for investing in financial markets. One of them is Index Trading. Instead of putting your money in many different stocks, you can buy only one stock ? the stock of some index fund which tracks the performance of a total stock market or a particular industry.

For cryptocurrency, there are no easily accessible methods to buy some index fund which tracks the overall cryptocurrency market and is available for every investor around the world. But you can create such index by yourself. You can create a basket of crypto assets to build your portfolio.

The most common way to create a portfolio is to allocate all assets by weighting them by market capitalization. It means, for example, if a share of Bitcoin among all cryptocurrencies is 40%, you put 40% of your money into Bitcoin.

The situation on the crypto market is changing quickly and constantly. Some coins can grow rapidly in a matter of days or even hours, while others can drop sharply very fast. You should keep an eye on market changes of all assets of your portfolio and update it accordingly.

To maintain the relevance of your portfolio in relation to the current market situation, you can do a portfolio rebalancing every week. Track the change of each asset?s weight in the total amount of Market Cap and make appropriate changes in your portfolio: reduce the share of an asset which price is dropping, and increase the share of an asset which price is rising.

In Bokka Exchange you can easily buy and sell cryptocurrency and keep your finger on the pulse of the crypto market. Bokka offers a wide range of features and tools to help you make wise trading decisions.

Read full article here: https://bokka.com/how-to-create-cryptocurrency-portfolio/