Earlier this month, the central bank of India, the Reserve Bank of India (RBI) caused a furor in the cryptocurrency market by announcing on April 5 that it would no longer allow financial institutions such as banks, payment service providers as well as non-banking financial services companies to deal in cryptocurrencies.
Earlier this week, a Bank of America Merrill Lynch (BAML) research team alleged that the Bitcoin bubble was finally bursting. To prove their theory, the team provided graphic data, comparing the performance of Bitcoin over the years to some of the world’s most famous “bubbles”.
According to the latest news reports, Venezuelans are finding an unexpected savior in Zcash. Here’s how. A few months ago, Zooko Wilcox, the CEO, as well asthe founder of the Zerocoin Electric Coin Company (ZECC), was contacted by someone in Venezuela for help. And, according to Wilcox, the cries for help got more frequent.
At the beginning of this year, XRP broke out of its price of $0.30 and suddenly shot up to trading at $4 per token. And while the cryptocurrency’s price has since receded to the $1 range, interest in the world’s third largest digital asset based on market value is sustained.
BitPay, the world’s biggest global blockchain payment service provider, closed an extended Series B funding round in which it raised another $40 million. Some of the top investors in this round of funding were Menlo Ventures, Capital Nine, Christopher Klaus of Internet Security Systems and Alvin Liu, Tencent’s co-founder.
Quarter 1 2018 has been Bitcoin’s worst performing Q1 on record and also the cryptocurrency’s second worst performing quarter in its history. Data shows that the more than 50% drop in the world’s number one cryptocurrency makes it one of the worst quarters for it so far.