Bitcoin Price ‘Cools Off’ at 8.7K After Best January Gains Since 2012


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Bitcoin (BTC) calmed its bullish growth after a week of gains on Jan. 15, settling just below its highest levels in two months. 

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

BTC steadies 12% higher

Data from Coin360 and Cointelegraph Markets showed BTC/USD hitting local highs of $8,885 on Tuesday, before a slight retracement an area around $8,700.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Coin360

The repositioning caps a frenetic few days for the largest cryptocurrency, which cemented weekly gains of over 12% in just five days. 

So far, January 2020 has already marked Bitcoin’s most successful start to the new year since 2012 — on Jan. 1, BTC/USD traded at $7,150, or 25% below Tuesday’s peak.

Now, traders appearing to be taking stock, welcoming breathing space which steadied Bitcoin’s growth in line with previous predictions. 

For regular Cointelegraph contributor filbfilb, the current range was suitable for the price to “cool off,” nearing Bitcoin’s 200-day moving average (MA).

“It would make sense to, been quite a ride and close to 200ma,” he told subscribers of his Telegram channel. 

Previously, fellow trader Tone Vays had highlighted the 200MA as a likely cause of Bitcoin’s bull run ceasing in the short term. 

On the back of a surge in Bitcoin futures and associated options trading which Cointelegraph reported on this week, overall Bitcoin trading volumes were also up, reaching their biggest daily since late October. 

In an update to his twelve-month Bitcoin price forecast, filbfilb confirmed his theory that BTC/USD was nearing the end of a reaccumulation phase, with upside more likely to characterize the coming months. 

As Cointelegraph noted, others remained wary, with analyst Keith Wareing not discounting the possibility of a fresh annual low coming before Bitcoin’s block reward halving in May.

Controversy rises over Bitcoin SV surge

Altcoins continued to display markedly erratic behavior compared to Bitcoin on Wednesday, with hard forks Bitcoin SV (BSV) and Bitcoin Cash (BCH) setting themselves apart from other major tokens.

The former even usurped the latter’s market cap ranking on Tuesday to claim the title of fourth-largest cryptocurrency. On the back of 81% gains in the past 24 hours, multiple theories continued to circulate on social media over the rise of BSV and its dependence on proponents Craig Wright and Calvin Ayre. 

BCH also made gains, up 17% over the same period, while the majority of major altcoins saw growth of between 8% and 13% on the day.

Ether (ETH), the largest altcoin, sealed 8.7% to hit $163, its highest since mid-November.

Ether 7-day price chart

Ether 7-day price chart. Source: Coin360

The overall cryptocurrency market cap was $238.9 billion, of which Bitcoin’s share was 66.1%.

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Alleged Launderer of $4B in BTC Vinnik Charged in France After Extradition


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French authorities have charged former operator of now-shuttered crypto exchange BTC-e and Russian national Alexander Vinnik.

Bloomberg reported on Jan. 28 that Vinnik’s lawyers said that he will remain in France to face his charges following his recent extradition from Greece. According to an unspecified official at the prosecutor’s office, Vinnik was charged with extortion, aggravated money laundering, conspiracy and harming automatic data-processing systems.

The legal shuttle

One of his lawyers said that after his trial in France has run its course, authorities are expected to send him back to Greece so he can be extradited to the United States. After the U.S. prosecution is over, he would be finally sent to Russia. The French investigation is ongoing and no trial has been ordered. Ariane Zimra, a French lawyer for Vinnik said:

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Millennials Prefer Bitcoin to Alibaba, Netflix Stock as GBTC Hits $10K


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Millennials prefer to hold Bitcoin (BTC) equity than invest in some of the world’s best-known companies, surprising new data reveals. 

In a report originally released in November, Charles Schwab, one of the United States’ biggest brokerage firms, shed new light on the increasingly pro-Bitcoin stance of Millennials compared to previous generations. 

GBTC makes inroads at Charles Schwab

1.84% of assets held as equity with Schwab are for the Grayscale Bitcoin Trust (GBTC), a Bitcoin investment vehicle that saw record participation in 2019. 

This is more than equity Millennials held in Berkshire Hathaway, Netflix, Disney Corp., and even Microsoft and Alibaba.

By contrast, Grayscale did not figure in the top choices of Generation X and Baby Boomer investors. Apple constituted the most popular overall equity holding across all three cohorts.

Reacting to Grayscale, Whittemore crypto marketing firm founder, Nathaniel Whittemore, described the…

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French Pro Soccer Team Paris Saint-Germain Launches Fan Token


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The fan token of top-tier soccer team Paris Saint-Germain (PSG) is now available for sale on the blockchain platform Socios, the team announced in a tweet on Jan. 28. 

As one of the first uses of the $PSG Fan Token, holders will vote on an inspirational message to be printed on the armband of the captain — Thiago Silva — when the team takes the pitch. 

According to a tandem announcement from Socios, the PSG fan token offering, or FTO, is now open on its website. Socios also offered an AR token hunt game for its native Chiliz $CHZ tokens which, once found, could subsequently be used to buy PSG’s fan token. 

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The volume of cryptocurrency flows coming on darknet markets have doubled for the first time in four years, a new study says.

In part of its 2020 Crypto Crime Report published on Jan. 28, Chainalysis — a New York-based blockchain analytics firm — found that darknet markets have significantly increased their share of total incoming crypto transactions in 2019, doubling from 0.04% in 2018 to 0.08%. 

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Little more than a month after their launch, Bitcoin (BTC) options contracts on the Intercontinental Exchange’s digital asset platform Bakkt appear to have seen sluggish uptake.

The latest available reports for the contract, Jan. 24 and Jan. 27, reveal that 11 days have elapsed since the last trade.

Traders bide their time

As reported, Bakkt launched its new BTC options contract in early December, shortly after rolling out a cash-settled Bitcoin (BTC) futures offering in November. 

Options are derivatives that are designed  to provide traders with additional flexibility hedge against an asset’s price swings in either direction: thus an options contract offers them the chance to purchase either a right to buy (a call option) or sell (a put option) the given asset at a specified “strike price” determined on or before the contract’s expiration date.

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Leading Japanese consulting firm Nomura Research Institute (NRI) partnered with cryptocurrency investment solution provider Intelligence Unit (IU) to launch a tradable cryptocurrency index.

According to a press release published on Jan. 29, the new index’s name is NRI/IO Crypto-Asset Index and it is meant for use by financial institutions. The index also draws data from crypto index platform MVIS and major cryptocurrency data platform CryptoCompare.

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The municipality of Zermatt, Switzerland — home to the iconic Matterhorn — is now the second location in Switzerland where taxpayers are officially allowed to pay their taxes in Bitcoin (BTC).

In order to unlock the new tax payment option, the authorities of the Zermatt have partnered with Switzerland’s major crypto financial services company Bitcoin Suisse.

Bitcoin Suisse to convert Bitcoin into Swiss francs 

According to an announcement by Bitcoin Suisse, Zermatt started accepting Bitcoin as a means of payment for local taxes and transactions on Jan. 28, 2020.

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