Why the Bitcoin Price Could Take a Very Long Time to Reach New Highs

CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. Throughout the past eleven months, the Bitcoin price has dropped from $19,500 to $3,000, by nearly 85 percent. The dominant cryptocurrency fell by 85 percent on average in its four past major corrections, so a similar drop from its all-time high was expected by many investors. But, according to Bitcoin and technology researcher Boris Hristov, this bear market could potentially last significantly longer than previous corrections. All Depends on…

Amendments to Anti-Money-Laundering Regulations Will Tighten Crypto Regulation

The Estonian Ministry of Finance will shortly add amendments to a recently-passed financial bill that are meant to “tighten” crypto-related regulation, Estonian financial newspaper Äripäev reports Nov. 28. According to the article, a new version of the Anti Money Laundering (AML) and Terrorist Financing Prevention Act came into force this week in Estonia, conforming legislation to the EU’s so-called “Fourth Money Laundering Prevention Directive.” The regulation introduced this week reportedly introduces “virtual currency exchange service providers” and “virtual currency payment service providers,” while before there only was “alternative means of…

Korean Firm Aims to Make Blockchain Faster

Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. According to local news outlet Joongnag Daily, a blockchain company based in Korea believes that it has found what it takes to revolutionize blockchain technology and bring even quicker pace to the way that transactions are being carried out. SymVerse, a blockchain firm that was established earlier this year, hosted an event and held a demonstration on Wednesday, November 28, 2018. Choi Soo-hyuk, CEO of SymVerse, calls…

Bitcoin Price Ends November With Worst Monthly Decline in 7 Years

Bitcoin just ended its worst-performing month in seven years in terms of month-over-month price declines.  The world’s largest cryptocurrency began November at an average price across exchanges of $6,341, but as of 0:00 UTC on December 1 is trading at just $3,964, according to CoinDesk’s Bitcoin Price Index.  As it stands, the near $2,400 drop in bitcoin’s price has created a -37.4 percent monthly performance, which is its worst on record since August 2011, when it fell from roughly $8 to $4.80 to print a -40 percent monthly loss, according to…