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Category: Live Bitcoin News

Vague Cryptocurrency Tax Laws Cause Problems for Hedge Funds

Hedge funds engaged in the cryptocurrency market are having a difficult time evaluating their tax burden. With unclear IRS guidelines, many of these funds run the risk of incurring steep penalties from inaccurately filed returns. No Consensus on Cryptocurrency Asset Classification In recent times, cryptocurrency investment has ceased to be the exclusive preserve of retail

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Saudi Arabia Bans Cryptocurrency Trading

In a stunning move, Saudi Arabia has cracked down on virtual currencies, banning all forms of cryptocurrency trading. Governments all over the world have struggled on how to deal with cryptocurrency. Some nations welcome digital currencies, while others seek to impose strict regulations. A few countries are openly hostile to Bitcoin and its digital brethren,

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Ripple Price Analysis: XRP/USD Aiming Lower?

Ripple continues to slide after previously breaking below a descending triangle formation. Price appears to be setting its sights on the long-term lows around 0.2000 next. The 100 SMA is safely below the longer-term 200 SMA to confirm that the path of least resistance is to the downside. In other words, the selloff is more

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Bitcoin Price Analysis: BTC/USD To Draw Support from Turkey’s Troubles, Too?

Bitcoin is still in selloff mode versus the dollar even after the cryptocurrency hit seven-month highs against the Turkish lira this week. Still, many are hopeful that the uncertainty could draw traders further away from stocks and fiat currencies and onto alternative holdings like bitcoin. On the 4-hour chart, it can be seen that bitcoin

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Ethereum Price Drops Below $300 for First Time in Nine Months

Things continue to look gloomy for Ethereum. The second most popular cryptocurrency by market cap tumbled more than 21% from a Friday high of $365.57 to its current price of $285.69 at press time. This marks the first time that Ethereum has fallen below $300 in more than nine months. Going into the weekend from a

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Turkish Citizens Flock to Bitcoin as Local Currency Plummets

Turkish residents are flocking to Bitcoin and cryptocurrency trading in the wake of the fresh currency crisis in the country. Meanwhile, the price of virtual currencies continues to slide as the market recorded a $43 billion loss over the course of just five days. Bitcoin Trading Volume in Turkey Surges Writing for Forbes, Billy Bambrough

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#FindSatoshi Crowdfunding Campaign Raises More Than $!00k in Quest to Find “Real” Satoshi Nakamoto

A new crowdfunding campaign has been set up with the aim of finding the elusive Satoshi Nakamoto. The campaign – #FindSatoshi – has so far raised over $100,000. Where in the World is Satoshi Nakamoto? No one knows who the creator or creators behind Bitcoin are, yet that hasn’t stopped people from speculating as to who

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Wall Street Banks Eye Custody as Perfect Entry Point into the Cryptocurrency Market

While Wall Street Bank chiefs like Jamie Dimon might appear to be critics of the emerging asset class, their firms are reportedly examining ways of entering the market. Behind the scenes, notable names like Goldman Sachs and JPMorgan are considering providing robust custodial tools for the cryptocurrency market. Wall Street Banks and Cryptocurrency Custodial Tools

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Stellar Price Analysis: XLM/USD Double Bottom Forming?

Stellar price could be done with its downtrend as a small double bottom can be seen on its 1-hour time frame. Price failed in its last couple of attempts to stay below the 0.20 mark, creating this classic reversal pattern with the neckline around 0.24. The 100 SMA is still below the longer-term 200 SMA,

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Bitcoin Price Analysis: BTC/USD Short-Term Reversal Pattern

Bitcoin price might be exhibiting the first few signs of a possible reversal as it forms an inverse head and shoulders on the 4-hour time frame. Price is just testing the neckline of the chart pattern, and an upside break could confirm that an uptrend is underway. The chart pattern spans around $6,000 to $6,500

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Researchers Find Over 15K Twitter Bots Pushing Cryptocurrency Scams

Duo Security researchers have found over 15,000 Twitter bots being used to push cryptocurrency scams. Scams have been around since the dawn of man. I was exposed to scams in my youth through the various ads in the back of comic books. All kinds of wondrous toys and other items were dangled in front of

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Bitcoin Scam Costs Finnish Man $34 Million

Police in Thailand arrested a popular actor after allegations of his involvement in a Bitcoin scam that cost a Finnish man $34 million. It’s a common practice for businesses to use famous celebrities to entice people to buy their products. This goes for everything from cars to food to even financial services. While there is

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