Bitcoin, Ripple, Ethereum, Stellar, Bitcoin Cash, Bitcoin SV, EOS, Litecoin, TRON, Cardano: Price Analysis, Dec. 10

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. November has seen the overall trade volume of retail-focused crypto exchanges drop, while the trade volume of exchanges preferred by larger players has increased instead. After an extended decline, when retail activity drops and institutional activity picks up, a market bottom usually approaches.…

State Farm Tests Blockchain Solution to Speed Up Auto Insurance Claims

U.S.-based insurance company State Farm is testing a blockchain-based solution to speed up the subrogation process for auto claims, according to an announcement published Dec. 10. State Farm is a large group of insurance and financial services firms that provides auto insurance in the U.S. The organization was ranked 38th on the 2018 Fortune 500 list of companies. Per the company’s website, it processes 38,300 claims per day and has nearly 519,000 accounts in mutual funds. State Farm is working on blockchain-based solution to speed up the subrogation processes in…

Stablecoins See Significant Growth in Adoption Over Recent Months

According to analysis by research firm Diar published Dec. 10, the adoption of stablecoins is growing based on the increasing number of on-chain transactions. Per Diar, four major stablecoins to date — USDC, True USD (TUSD), Paxos (PAX) and the Gemini dollar (GUSD) — have broken the $5 billion mark in on-chain transactions within the three-month period. November reportedly saw a massive 1,032 percent surge in on-chain transactions compared to September, when the stablecoin market breached the $2.3 billion mark at the end of last month. Diar notes that Paxos…

South Korean National Assembly Holds Regulation Debate With Local Crypto Exchanges

South Korea’s representative body, the National Assembly, has held a crypto regulation debate arranged by major local cryptocurrency exchanges, IT media oulet ZdNet Korea reports Monday, Dec. 10. According to local business outlet Financial Leaders, the topics of the debate were proposed by seven crypto exchanges — Bithumb, CobitCoin, Coinone, Upbit, Gopax, Coinplug and Hanbitco. The debate was attended both by crypto entrepreneurs and politicians, such as Democratic Party member Kim Byung-wook and representatives for the Liberty Korea and Bareunmirae parties, both with a significant number of seats in the…

Decentralized Browser Brave Becomes Default on HTC Blockchain Smartphone

Decentralized browser Brave is now the default browser on a phone from major smartphone manufacturer HTC, technology news outlet CNET reported Dec. 10. Founded in 1997, HTC is a Taiwanese consumer electronics manufacturer, which was the leading smartphone vendor in the U.S. at the end of 2010, according to TechCrunch. The company’s market share began decreasing, when it trailed Apple, Samsung, and LG with a roughly six percent market share in the U.S. in 2014. In 2017, HTC held 2.3 percent of the smartphones market share, while in 2018 it…

Galaxy Digital and Block.One Lead $30 Million Funding Round for US Disruptor Bank

Cryptocurrency-focused merchant bank Galaxy Digital and Block.One have led a $30 million Series A investment round in U.S. neo-banking platform Good Money. The news was confirmed by a press release Dec. 10. Aiming to balance user ownership with part donation of profits and equity, Good Money provides banking services and a handful of associated financial instruments to U.S. account holders. The investment came mostly via Galaxy and Block.One’s joint Galaxy EOS VC fund, one of several funds under the Block.One umbrella. “Modern banking is a primary driver of so many…

Bitcoin’s Future Value More Likely to Be $100 Than $100K

The former chief economist of the International Monetary Fund (IMF) has characterized Bitcoin (BTC) as “a lottery ticket,” in an article for major United Kingdom daily broadsheet The Guardian Dec. 10. Writing in the midst of the recent crypto market price collapse, current Harvard University Professor of Economics and Public Policy Kenneth Rogoff suggested that the “overwhelming sentiment” among crypto advocates is that the total “market capitalisation of cryptocurrencies could explode over the next five years, rising to $5-10 [trillion].” The historic volatility of the emerging asset class, he conceded,…

The Biggest Rises and Falls of Bitcoin, Explained

5. What is it about Novembers? Over the course of 2018, Bitcoin has had an annus horribilis — with prices tumbling by more than 83 percent when compared to the all-time high of $19,783. This is worse than the Nasdaq’s plunge when the dot-com bubble burst in the U.S. — and it has also delivered catastrophic consequences for many other digital currencies, which have now been rendered worthless. This is because the fate of many coins, and indeed other cryptocurrencies, is tied to blockchain in some way or another. Just…

Just Two ASIC Bitcoin Mining Rigs Remain Profitable in Current Markets

Amid the cryptocurrency market crash, even the newest crypto mining machines are struggling to seal profits for their operators, according to real-time data published by mining profitability data site ASICMinerValue.com (AMV) today, Dec. 11. AMV is a site that calculates real-time profitability rates for “ASIC” miners, hardware that uses Application-Specific Integrated Circuit (ASIC) chips, tailored to efficiently mine cryptocurrency based on a specific hashing algorithm. Updated every minute, the site calculates profit yields for specific miners based on current power costs, network difficulty, block rewards, and cryptocurrency prices. As of…

Bitcoin Oversold on Weekly Price Chart for First Time in Four Years

A key long-term bitcoin (BTC) price indicator is reporting oversold conditions for the first time in almost four years. The widely followed 14-week relative strength index (RSI), which oscillates between zero to 100, is currently seen at 29.80 – a level last seen in January 2015. An asset or a cryptocurrency is considered to be oversold if the RSI is holding below 30.00. On the other hand, an above-70 reading indicates overbought conditions. Essentially, the under-30 reading on the 14-week RSI indicates that the recent heavy selling from the highs…