Bitcoin Traders Adopt 'Wait and See' Stance As China Impact Fades

Bitcoin Traders Adopt 'Wait and See' Stance As China Impact Fades

Markets Weekly is a weekly column analyzing price movements in the global blockchain token markets. This edition looks at the week from 14th through 20th January. After a wild start to 2017, bitcoin took it slow this week. This relative calm was punctuated by a handful of sharp fluctuations, which saw the digital currency’s price fall to as little as $810 on 15th January and rise to as much as $914 on 18th January, data reveals. But, despite the calm, there was uncertainty under the surface. According to analysts, the market is still reluctant to make big moves in the wake of continued news from China that has found its central bank more actively engaging with local exchanges. Trader reluctance For now, this is keeping traders on the sidelines. Ryan Rabaglia,...

Is Bitcoin App Abra Finally Ready for Its Big Debut?

Is Bitcoin App Abra Finally Ready for Its Big Debut?

At this week’s North American Bitcoin Conference, P2P digital cash startup Abra announced that, starting next month, it will begin its long-awaited global rollout. It’s a move that Abra has had in the works since May, when CEO Bill Barhydt said he was eager for the startup, founded in 2014, to make the transition “as quickly as possible”. Notably, the latest news provided new details on what this long-held plan might look like in action. In a blog post published this week, Abra revealed that, at launch, its wallets will support the buying, selling and storing of bitcoin, as well as over 50 traditional currencies, which it said can also be sent peer-to-peer using the service. According to Barhydt, the system is now ready for primetime. He...

EU Watchdog: Blockchain Security Should Be Concern For Finance Firms

Financial firms need to be mindful of cybersecurity challenges as they look to integrate blockchain, a top IT agency for the European Union said this week. The European Union Agency for Network and Information Security (ENISA) has published a new report on blockchain tech, which seeks to highlight the security challenges that large businesses might experience in the face of broader blockchain adoption. Key management, data privacy and oversight of smart contracts were some of the major items identified in the report. It’s the first time the agency, founded in 2004, has released a major report on the tech. Last year, ENISA published a glossary page on its official website that offered an overview of blockchain, noting at the time that “it is too soon...

Bitcoin Markets Muted as Donald Trump Becomes US President

Bitcoin Markets Muted as Donald Trump Becomes US President

  When Donald Trump won the presidential election in November, the price of bitcoin jumped. Following his inauguration today – not so much. On 9th November, prices bounced more than 3% as Trump, the controversial businessman and Republican presidential nominee, secured the votes to clinch the election versus former US secretary of state Hillary Clinton. That move came as stock markets worldwide sharply fell as Trump’s victory became apparent. The reaction to Trump’s inauguration, by contrast, was far more muted. Data from the CoinDesk Bitcoin Price Index (BPI) shows that today’s prices have largely stuck to the same track seen in the past few days, primarily staying within the range in the upper $800s. Prices hit a low of $882.30 at around 10:15...

Hong Kong Stock Exchange Considers Blockchain Settlement Upgrades

The Stock Exchange of Hong Kong (SEHK) is looking to blockchain as it begins work on a next-generation transaction settlement system. The disclosure came during comments given by SEHK chief executive Charles Li, who spoke during a media luncheon earlier today. In response to a question about market infrastructure changes, Li said that, in addition to retooling its trading platforms, SEHK is weighing options for upgrading its post-trade systems as well. He mapped out a three-to-four year roadmap during which the exchange would seek to both cut costs and reduce risk across the its operations. As part of that process, SEHK is considering blockchain for possible use. Li explained to luncheon attendees: “In 2016 we started to look at the role new technologies (such as...