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Brexit FALLOUT Explained: Stock Markets Crashing, Gold & Bitcoin Soaring!

David Seaman, Streamed live 2 hours ago

It happened. Brexit: the UK voted to leave the European Union. British Prime Minister David Cameron has announced his resignation; stock markets are reeling, with the Dow plunging nearly 500 points earlier today before recovering somewhat. Gold and Bitcoin are soaring as a result, the British Pound is tumbling: Get into Bitcoin safely and quickly-…

Bitcoin Price Watch; Here’s Where This Weekend’s Profits Are Coming From / 

Here’s what’s on for the weekend in the bitcoin price, in the wake of the referendum out of the UK.

The dominating topic for the day has been the British referendum, and the ensuing decoupling of the UK from its European Union counterparts. Chances are that this topic will dominate global economic news (and in turn, equities and other financial asset market sentiment) for the next few days, making it difficult to predict what’s going to happen in the price of (what are essentially speculative, when it comes to this sort of underlying fundamental) assets such as bitcoin. Having said this, even though we don’t really know which direction is set to command the overarching trend in the bitcoin price, it’s more than possible to pick out a profit from the market purely by setting up against both sides of any potential volatility. With this in mind, and armed with our intraday strategies, here’s what we are looking at. First up, take a quick look at the chart below to get an idea of the key levels we are bringing to the table.


BTCC’s Bobby Lee: Chinese Capital Controls Not a Factor in Recent Bitcoin Price Rise / Jessie Willms / Jun 24, 2016 03:46 PM

As the price of Bitcoin continues its wild ride, expert observers weigh in on the reasons: China, halving, Japan, Brexit ‒ all seen as factors. But every analysis includes the current situation in China where an uncertain economy and yuan devaluation seems to be causing a marked increase in Bitcoin trading volume.

Bobby Lee, CEO of China’s BTCC exchange, sees this as the natural progression of a very good idea whose time has come. Lee toldBitcoin Magazine:

“The recent price rise could be because people are finally catching up to the fact that Bitcoin is truly a suitable global asset class. More and more people are buying into this argument. If you look back at the last eight years, Bitcoin has essentially gone up several times each year.”

A strong believer in the intrinsic value of Bitcoin, Lee is not overly excited about the current price surge, but sees it as a continuation of a long-term trend:

“I’m optimistic about Bitcoin as a digital asset. For Bitcoin to gain widespread adoption in the next 20 years, it has to be valued at much more than the $10 billion that it currently is in terms of circulation value. I believe that Bitcoin will be successful globally in the next 20 years, meaning that it will be multiples and multiples of where it stands today.” 


Bitcoin Exchange Coinbase Adds Paypal Support / Samburaj Das / 24/06/2016

Bitcoin wallet and exchange Coinbase has revealed new funding methods – PayPal and credit cards, to further enable digital currency transactions and swaps in its exchange. The support for the two new funding mechanisms is currently in beta.

In a move that can be seen as a further sign that PayPal is dipping its toes into the bitcoin space, a tie-up with digital currency exchange Coinbase will see the latter enable PayPal support for bitcoin selling.

“Through this integration, Coinbase users are now able to sell BTC and have their USD funds deposited to a PayPal wallet,” Coinbase explained in a blog announcement.


Bitcoin Recovers, Ethereum Skyrockets – Crypto Summer

David Seaman, Streamed live 22 hours ago

Bitcoin / Ethereum Summer has begun – Bitcoin back above $600 on a crypto rallying cry from afar, Ethereum back to $13.79 per Ether as DAO fears subside, and much more from the cryptoverse. Open your free BitGold account: (that’s my invite link, use it, fund your account with 5 grams of gold or more within 48 hours for a 5% deposit bonus, up to $100 max bonus) Buy your first Bitcoin, get a $10 bonus: (Coinbase is also a great way to buy Ether).

Bitcoin value surges as British pound tanks on Brexit / Tom Warren / 

Britain’s decision to exit the EU has predictably shocked global currency markets. The pound has dropped around 10 percent against the dollar, a 30-year low as the market reacts to uncertainty over the UK’s vote. While traditional currency markets react to the news, cryptocurrency bitcoin has started to surge in price. Bitcoin dropped to a weekly low of $550 yesterday, but it has passed the $650 mark today.

That’s still far off the two-year high of $719 from earlier this month, but the volatile currency appears to be spiking thanks to Brexit. The price of bitcoin has been fluctuating wildly recently, due to a number of factors. Earlier this week, Hong Kong-based bitcoin exchange Bitfinex was knocked offline for a few hours due to networking problems. Opinion polls over Britain’s position in the EU also saw Bitcoin price fluctuations, and the uncertainty around Britain’s referendum affected China’s yuan as it hit a five-year low last week. A large amount of bitcoin trading occurs in China, so any yuan changes will have an effect on the price of bitcoin.


Bitcoin Price Technical Analysis for 06/24/2016 – Brexit Lead Boosting Bitcoin / 

Bitcoin price has drawn support from increased financial market uncertainty once more, but technical indicators are suggesting a short-term drop.

Bitcoin Price Key Highlights

  • Bitcoin price found support at the 61.8% Fibonacci retracement level on the daily time frame, as predicted in the previous article.
  • Price has made a short-term double bottom at that area and broke past the neckline after early regional results from the UK suggested a possible Brexit.
  • Bitcoin could be back on track towards a climb to the previous highs around $775 if the UK does leave the EU.

Bitcoin price has drawn support from increased financial market uncertainty once more, but technical indicators are suggesting a short-term drop.


The Latest Bitcoin Hurdle: How to Tax It / LAURA SAUNDERS / June 24, 2016 11:14 a.m. ET

IRS hasn’t addressed many important tax matters regarding digital currencies

A little more than two years after the Internal Revenue Service issued bare-bones guidance on bitcoin and other digital currencies, the agency still hasn’t addressed many important tax matters affecting them.

The American Institute of CPAs sent the IRS a letter earlier this month requesting clarifications on 10 issues, including the tax status of small transactions and rules for donating digital currencies to charity.

“We’d like to know the tax rules before they turn into audit issues,” says Annette Nellen, a professor at San Jose State University in Silicon Valley, who helped draft the AICPA’s request.

The tax questions are one of several hurdles on the path to broader acceptance of digital currencies—money that exists only online and isn’t backed by any government. Bitcoin and its smaller rivals, such as ether, ripple and litecoin, are maintained by a network of computers that process and verify transactions using them.


Looking for a Gainer Amid the Sea of Red? Bitcoin Jumps With Yen / Justina Lee / June 24, 2016 — 1:46 PM PHT

    • Traders seek assets not exposed to central banks: Swissquote
    • Bitcoin has been tracking odds of Brexit along with havens

Bitcoin was one of the few winners out of the U.K.’s vote to leave the European Union, surging as much as 13 percent as the decision fueled demand for alternative assets.

The digital currency jumped 11 percent to $681.68 as of 1:45 p.m. Hong Kong time, according to data compiled by Bloomberg. The price had plunged 20 percent in the four days through Wednesday as bookmakers’ odds projected victory for the campaign to keep Britain in the EU, and ether, another cryptocurrency, declined after a reported hack.


Researchers Uncover Bitcoin Phishing Campaign / Elliot Maras / 24/06/2016

OpenDNS Security Labs has discovered 100 fake bitcoin and blockchain domains that mimic legitimate bitcoin wallets in an attempt to steal credentials.

The domains share a provider with three different names that has used the IP space to sell pornography, false merchandise and phishing sites. The sites, most of which were registered on May 26, continue to pop up, indicating the campaign continues, according to Threatpost.

Researchers Trace Connections

OpenDNS Security Labs researchers Dhia Majoub, Artsiom Holub and Jeremiah O’Connor were able to trace connections among name servers, IP addresses and Whois indicators over the past few weeks to determine the campaign’s scope.

An Israeli cloud-based security firm, Cyren, initially came across the campaign in early June by observing the domain spreading through a pay-per-click advertising scam by Google AdWords. A user tricked into visiting the site and logging in would hand their Blockchain credentials to the attackers.


Rise of Bitcoin and Gold as Brexit Turns into Reality / 

The Brexit referendum results are out. With the majority voting to Leave, the global markets have dropped while the Bitcoin and Gold futures register a rise.

We finally have some closure with regard to Britain leaving the European Union. The latest Brexit referendum has resulted in over 50 percent of the English voters choosing to leave the European Union against 48.1 percent. The results of Brexit referendum have put the whole bloc into turmoil as many were convinced that Brits would vote to ‘Remain’ instead of ‘Leave’. The resulting politico-economic indecision is being reflected in the international markets with the value of Euro and Pound Sterling registering a fall.

As the value of European currencies falls, the universal currency with no state — Bitcoin is benefiting from the Brexit situation. The value of Bitcoin has surged overnight by about 100 points to reach a high of $683.9. Since the rise, the digital currency has seen a small drop in its value, hovering around $660 (at the time of writing). The reduced value of Bitcoin may be attributed to the Prime Minister David Cameron’s resignation.


Coinetize Credits purchases enabled via bitcoin / June 24, 2016 5:49 AM UTC

Hong Kong-based Coinetize, a micropayment service platform that pays in bitcoins and is currently in a private beta, has enabled bitcoin monetization.

With the monetization of digital currency, website visitors would be able to purchase “Coinetize Credits” using either credit card or bitcoin. Coinetize charges 1.8 percent commission on sales made on owner’s website.

According to, Coinetize recommends the website visitors to use three bitcoin exchanges: Circle, CoinHako and Xapo. The Coinetize website promises 24 hours e-mail support for their customers.

Gracey who created Virtual Blue to be an umbrella company for several projects that focuses mainly on Coinetize, said, “What’s needed is real creativity and real innovation, not just endless currency trading. With Coinetize we are trying to provide that. Coinetize is an attempt to apply digital currency to the task it is best suited to – small online transactions that are similar to cash payments.”


Brexit Has No Significant Impact on Google Trends Bitcoin Searches / JP Buntinx / June 24, 2016

With the Brexit vote turning out the way most had expected, it is no surprise to find out Bitcoin hits Google Trends once again. Interestingly enough, the number of searches went up during the price rise, rather than when the Brexit results were coming in. All in all, the year 2016 has been quite successful for Bitcoin’s popularity to far.


Many people thought the number of Bitcoin searches on Google would go up as the Brexit vote drew nearer. The year 2016 has seen quite a significant interest in Bitcoin so far, with a peak near the beginning of May 2016. After flattening out for the remainder of the month, things started picking up again in June.

An unusual pattern becomes visible when looking at the graphs, though. There are different “tiers” of interest in Bitcoin during the month of June 2016, showing one initial dip followed by a second one in the past 48 hours. So far, it seems like the Brexit will not do much to affect the number of Bitcoin searches on Google.


Summer of SegWit: Bitcoin Core Begins Segregated Witness Soft Fork / Evander Smart / 2016-06-24 12:24 PM

It is going to be a wild summer for the price of Bitcoin. The only certainty in the space will be change.

Watching the roller coaster is fine for the speculators out there, but maybe new protocol reinforcements will help spur prices higher, and stabilize the environment. The much-hyped Segregated Witness application is about to be brought into play, if it hasn’t already, by the Bitcoin Core developers.

Confirming the unconfirmed

News of the advancement forward of Segregated Witness, or SegWit, made waves on Reddit’s r/Bitcoin Thursday afternoon in the form of a single forum discussion screen capture posted on Imgur. This pic seems to indicate a discussion by the Core developers about now being the time to put SegWit into action, after spending an appropriate amount of time within the testnet.


Bitcoin price has risen more than $100 in the last 12 hours as traders panic over the EU referendum results / Emma Haslett / 24 June 2016 4:01am

Bitcoin has risen in value by more than $100 in the last 12 hours, as traders panicked over the outcome of the EU referendum.

Just before 4am its value was at $654.08 – up from $563.92 at 5pm yesterday, according to Coinbase.

The pound was taking its worst battering in years after it fell more than seven per cent against the dollar to $1.3783, and 5.2 per cent against the euro to €1.2390. It lost 20 cents against the dollar in a little over three hours – a historic fall.


Digital Currency Revolution Blockchain Intelligence Group starts accepting investment via bitcoin / June 24, 2016 3:59 AM UTC

Blockchain Intelligence Group (BIG), a Canada-based developer of blockchain technology solutions, has announced that it now allows potential investors the opportunity to buy shares in the current BIG private placement using digital currency bitcoin, in addition to traditional monetary forms.

“The benefits of using bitcoins to invest into Blockchain Intelligence Group are now just being realized. With no transaction fees or intermediary banking redtape slowing the process down, we should really hope to see some new types of investors taking an interest”, Lance Morginn, CEO of Blockchain Intelligence Group, said in a statement.


Coinbase brings bitcoin support to PayPal, credit cards / Katherine Fletcher / 23 Jun 2016

Coinbase, the digital bitcoin wallet company, announced Wednesday it now accepts PayPal and credit cards for bitcoin sells and bitcoin buys, respectively.

The company said in a corporate blog post that through the PayPal integration, Coinbase customers are now able to sell bitcoin and have their USD funds deposited into a PayPal wallet. Coinbase is currently offering PayPal cash-out service to U.S. customers only, though it hopes to add support to other nations as well as add support for bitcoin buys through PayPal.

Coinbase’s support for credit cards follows the launch of debit card buys in March, with the service expanding to all 50 U.S. states by the end of April.


Bitcoin and Ether up as Pound tanks following Brexit / Jon Martindale / June 24th, 2016 at 11:06 am

Today is a crazy day, with everyone scrambling to make sense of what is a momentous event that will have ramifications for years and decades to come. In the short term though, as panic sets in and speculation runs wild, the British pound’s value has dropped significantly and digital currencies like Bitcoin and Ethereum have been bolstered at the same time.

Over the past few hours since the results were in from the British EU Exit referendum and it became clear that the leave campaign had secured a victory, the value of pound Sterling began to tumble. At the time of writing the pound has fallen 10 per cent against the dollar, leaving it at its lowest point since the mid ’80s.


Can You Buy Bitcoin To Survive The Brexit Market Volatility / FX Empire Analyst – Barry Norman / June 24, 2016 08:08 (GMT) 

Markets are at their highest level of volatility after a surprise result from the UK referendum showed that Britain’s favored leaving the Eurozone.  The vote sparked a roller-coaster ride for most global assets with the pound falling to the lowest level in 45 years. Gold at one point had soared over $100.00.

Bitcoin soared this morning to trade above $675 an ounce after just falling to its lowest level in months as polls just days ago indicated that the UK would vote to remain. The surprise vote as saw Prime Minister David Cameron resign.

Bitcoin price has experienced volatility lately with observers pointing to a multitude of factors including increased buying interest from China supporting the price swell and the temporary outages suffered by digital currency exchange BitFinex seemingly contributing to the recent plunge


Downplaying Bitcoin, Circle Downloads $60M For China, Europe Push / Jeff Engel / June 23rd, 2016

Circle Internet Financial aims to make transferring money to a friend across town or on the other side of the world as easy as sending a text message. That plan got a big boost with Wednesday’s announcement of a $60 million windfall from mostly Chinese investors and the formation of a Beijing-based venture that will work to bring Circle’s mobile payments service to the world’s most populous country.

Founded in 2013, Boston-based Circle uses blockchain—the distributed ledger technology that powers the digital currency bitcoin—to enable users to send and receive payments instantly, without fees, via mobile messages that can be personalized with pictures, emojis, GIFs, and so on.

The company got its start as a bitcoin payments service, but has since expanded to traditional currencies. Circle stopped marketing itself as a bitcoin service in recent months, after it raised a $50 million venture round last year and added the capability to send money in U.S. dollars. Bitcoin isn’t mentioned on Circle’s home page, nor was the word used even once in the company’s blog post announcing the $60 million raise yesterday.

Currently, Circle users can transfer money in the form of U.S. dollars, U.K. pound sterling, and bitcoin, including the ability to convert between any of those currencies. Circle said Wednesday it will add euros in the next month with the launch of its service in Spain, part of a broader push into Europe. And its independent China venture, established six months ago, is working on securing regulatory approvals to offer its service there and add China’s renminbi to the company’s currency options.