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Small Bitcoin Fee: Only 10 Cents for $194 Million on the Bitcoin Network

According to sources, on October 16th, a Bitcoin user managed to transfer 29,999 BTC with a transaction fee of only $0.10. This amount of Bitcoin equates to $194 million, and a transaction of this magnitude would usually incur bank fees in the tens of thousands of dollars. With such a small Bitcoin fee for such a large transaction, will we see widespread adoption for big over-sea payments? Small Bitcoin Fee Bitcoin transactions are a funny one. Often, complaints roll in by the dozen about the cost of transaction fees because to clear a transaction on such a high-volume network means paying for expensive miners. But this transaction…

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Bitcoin Price: BTC Skyrockets Nearly 10% and Pulls Rest of the Crypto Market Back into the Green

This morning, Bitcoin (BTC) rose almost 10% in less than an hour. After the Bitcoin price jump, investors began dumping money into the other digital assets, causing the market to widely shift green. Bitcoin Price Movement Last week, Bitcoin had its first major sell-off in months, but this morning it rose nearly $600 in less than an hour. Late last week, it looked as if Bitcoin was going to drop just below the $6,000 mark, but it’s now comfortably trading over $6,500. According to CoinMarketCap, Bitcoin (BTC) is trading at $6,655.71 a coin, up 5.48%, in 24 hours. In seven days, BTC is up 0.264%, and for…

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Cryptocurrency Sell-Off: Bitcoin (BTC) Plummets and Market Follows Suit

The cryptocurrency market took a huge hit nearly 12 hours ago when Bitcoin (BTC) abruptly dropped over $200 in value within minutes. After BTC dropped, a widespread cryptocurrency sell-off took place and hasn’t slowed down since. Cryptocurrency Sell-Off According to CoinMarketCap, Bitcoin (BTC) is currently trading at $6,264.43 a coin, down -4.63%. Most of the cryptocurrency market has followed Bitcoin’s spiral, and most coins in the top 15 cryptocurrencies by their total market cap are seeing double-digit percentage losses. Ethereum (ETH) is currently trading at $201.10 a coin, down -11.07% in 24 hours, and XRP is now valued at $0.405 a coin, down -13.33%. The total cryptocurrency…

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Bitcoin (BTC) Interest and Trading Rising in Venezuela

Venezuela’s economic crisis continues to worsen, despite the president’s controversial attempts to revive his country. The demand for Bitcoin (BTC) and other cryptocurrencies continues to rise this year, as the country’s dollar, the bolivar, continues to drop. Venezuela has hit crisis mode extreme, but can BTC save them? Bitcoin Booming in Venezuela According to Coin Dance, Venezuelan residents’ interest in Bitcoin (BTC) reached its peak in July of this year. Most countries have declined since January of 2018, when the total crypto market hit its all-time high.In December, BTC hit just under $20,000 a coin, and altcoins hit record-highs the first week of January. Since then, the…

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Morgan Stanley Bitcoin Derivatives are Ready to Go

Morgan Stanley (NYSE:MS) plans to offer its customers complex derivatives that will be tied to Bitcoin (BTC), Bloomberg reported this morning. The Morgan Stanley Bitcoin derivatives will push the investment bank in the running with its competition currently dabbing in the cryptocurrency space. Morgan Stanley Bitcoin Derivatives According to a person familiar with the venture, Morgan Stanley, one of the world’s largest investment banks, is trying to create ways for its client to get involved in the digital currency market. Institutional investors have shown that they don’t want to actually own any Bitcoin but more so want to trade for or against the price of it. The…

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Crypto Canada: First Block Capital Launches Canadian Bitcoin (BTC) Mutual Fund

Yesterday, First Block Capital Inc, a Canadian blockchain and cryptocurrency investment company, announced that its Bitcoin (BTC) trust has achieved mutual fund status in Canada. Due to this, it allows investors to place funds in registered accounts such as Registered Retirement Savings Plans (RRSP) or Tax-Free Savings Accounts (TFSA). Bitcoin Mutual Fund Block’s FBC Bitcoin (BTC) trust allows qualified investors to gain exposure to BTC without having to buy, store or manage the cryptocurrency. These trust units are considered a qualified investment for a mutual fund trust under the Tax Act. “Since inception, First Block Capital has been committed to providing investors with regulated, titled and auditable…

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Goldman Sachs CFO States Company ISN’T Ditching Bitcoin Trading Desk

If you’ve been monitoring the cryptocurrency market on a daily or weekly basis, you probably noticed that the market took a big nosedive this week. This is mostly due to the rumor going around mainstream media about Goldman Sachs (NYSE:GS) putting a stop to its Bitcoin exchange desk—a rumor that the Goldman Sachs CFO put a stop to. The story originated from Business Insider. There are other speculations as to why the market dropped, but the overall consensus comes down to panic selling because the giant investment bank pulled its crypto plans. Goldman Sachs CFO, Marty Chavez, spoke out today at TechCrunch Disrupt and put an end to…

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Abra CEO Claims SEC Will Approve Bitcoin (BTC) ETF Within the Year

Cryptocurrency enthusiasts and bulls have been hopeful that the US Securities and Exchange Commission (SEC) will grant the first Bitcoin ETF (exchange-traded fund) this year. However, these bulls have been left disappointed recently as the SEC has handed out a handful of rejections and postponements. Bill Barhydt, CEO of Bitcoin payment start-up Abra, told CNBC that it’s because the applications sent in haven’t fit the financial archetype that the SEC is looking for. Abra CEO Speaks Out “I think the issue with the SEC, quite frankly, is that the people who are doing the applications don’t fit the mold of who the SEC is used to approving,”…

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SEC Rejects Nine Bitcoin (BTC) ETF Proposals

The US Securities and Exchange Commission (SEC) has rejected nine applications for Bitcoin ETF proposals. The SEC published three separate orders yesterday, highlighting the rejections from the three different applicants. SEC Says No to Bitcoin ETF Proposals This ruling is a blow to Bitcoin bulls who’d hoped the products would have provided a breakthrough for institutional adoption. Last night, the SEC published its rejection of two proposals from ProShares, two from GraniteShares, and five other products from Direxion. The rejections come just one day ahead of the deadline stipulated for a pair of Bitcoin ETFs submitted by ProShares. Proshares was working with the New York Stock Exchange (NYSE) ETF…

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BTC Price Indicating a Bullish Trend Reversal? Jim Cramer May Disagree

Two days after Jim Cramer made bearish comments on Bitcoin, the BTC price has started to revive itself. A bullish reversal is not yet confirmed, as Bitcoin would have to break above key resistance for that to happen. However, the BTC price has moved back to above $6,000, which indicates a trend reversal could very well be in progress.  And yet, Cramer has still thrown in the Bitcoin towel. He even did so on the day that Bitcoin crossed a high of $6,259. So what gives? Jim Cramer BTC Price: Who Should We Believe? It’s difficult to say, as the crypto market is somewhat divided this week. Some are…

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