Stripe Inc. No Longer Support Bitcoin Payments, Cryptocurrencies Rise Again

Most cryptocurrencies came under pressure yesterday but then experienced buying momentum. Stripe Inc. has cut support for Bitcoin products for its payments company.

UBS Chairman Weber Offers Cryptocurrencies Opinions, Bitcoin Worries

Cryptocurrencies will get plenty of attention as the Davos World Economic Forum makes news, and senior banking executives and government officials offer their opinions. This morning, UBS Chairman Axel Weber said he is wary of a massive decline in Bitcoin which could hurt retail traders who have become active in the market. He also pointed out Cryptocurrencies are becoming big enough to get the attention of regulators.

Ripple Consolidation Serves as a Good Example, Tight Range is a Catalyst

Ripple serves as a good example for cryptocurrency values. Ripple has entered a consolidated phase as it trades near one dollar and thirty cents. The coin’s tight range within the lower boundaries of its value may prove to be a catalyst for speculators to buy. Yesterday saw cryptocurrencies come under pressure, then experience increased buying, only to be sold off late in the night. Ripple appears to have a resistance near 1.77 U.S Dollars and support around eighty-five cents near term.

Stripe Inc. No Longer Supporting Bitcoin Products for Payments

Stripe Incorporated which is a payments company, announced late yesterday it will no longer offer its clients products that support transactions of Bitcoin. The decision was based on what Stripe says, was technology problems that created transaction processing which took too long and unreasonable fees for purchases.

Workshops during London Blockchain Get Together

London’s Blockchain week continues today with exhibitions and a conference. Tomorrow and Friday will include workshops for participants.

• 24^th – 26th, U.K, London Blockchain Week

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.