Get started

Bitcointoday

Bitcoin Today: arigato to JapanPrice Bitcoin did not manage to show higher volumes and hold above the 6650.0 and felt down this morning to the 6300.0 level. Though the volumes did show up in the 6000 – 6400 zone, as it is a supportive zone, the more Bitcoin testing it - the less support this zone will provide. For now, we are hanging at the 6300.0 level and waiting if traders will pick it up or leave it for the next weekends there. Overall the technical picture looks negative, as the longer the price stays in the 6000 – 6400 zone the higher possibility of further declines. A come back above the 6650.0 level with high volumes would be the only positive sign that could save the day. Latest news Japanese largest exchange bitFlayer suspends registration Bitcoin prices fell more than 5 percent on Friday after a regulatory agency in Japan ordered several cryptocurrency exchanges to review their business practices. The digital currency traded at 6300 around 09:00 UTC, breaking below 6400 for the first time in about a week. The order from Japan's Financial Services Agency, led bitFlyer — the largest crypto exchange in Japan — to suspend the creation of new accounts while it makes improvements to its business, especially as it pertains to its money-laundering measures.
BITFINEX:BTCUSD
by DestinationMoonCrypto
Bitcoin Today: a hint of hopePrice Yesterday buy-in broke the lateral channel and brought the price above the 6650.0 level, closer to the Global Bearish Trend Line. For now, the price stays locked inside the narrowing bounds of Bearish Trend Line and 6650.0 level. Today BTCUSD will reach the decisive moment with the Trend Line, bounce back will bring the price below the 6650.0 level probably back to the 6400.0 zone; a breakthrough above the Bearish Line will bring more confidence to the markets and could provoke new buying session. Support – 6400.0 level; closest resistance – 7000.0 level. Today forecast Trading in the 6400.0 – 7000.0 zone. Latest news All Regulated Japanese Exchanges to Prohibit Insider Trading and Privacy Coins The association comprising of 16 government-approved cryptocurrency exchanges in Japan has reportedly provided a sneak peak of its self-regulatory rules. The focuses are on banning insider trading and preventing exchanges from listing privacy coins. The Japan Virtual Currency Exchange Association (JVCEA) has given a sneak peak of the draft self-regulatory rules it has been working on, “in an effort to step up consumer protections and improve transparency,” Nikkei reported on Monday. The main focuses of the new regulations are on “insider trading and the trading of new currencies that cannot be traced easily,” the publication detailed, adding: “The proposed rules explicitly ban insider trading. Word has leaked previously that a major exchange would start handling a new currency, which led to a surge in the currency’s value and left many suspecting market manipulation. Such activity would represent a clear violation of the new rules.” Australia Taxation Office (ATO) will be collecting Capital Gains Tax (CGT) on cryptocurrency gains After moving to request all cryptocurrency exchanges to report to the country’s watchdog agency, the Australia Taxation Office (ATO) will be collecting Capital Gains Tax (CGT) on cryptocurrency gains, essentially classifying them as assets. Liz Russel, a senior tax agent at a private Australia online tax return service, shared some insights on the way the ATO will be treating cryptocurrency gains and what people should expect. Just like in the majority of countries, there is an ongoing debate amid Australian institutions regarding the proper classification of cryptocurrencies. However, according to the senior tax agent, the ATO has made it pretty clear that it would regard them as assets: “There is a long-running debate over what cryptocurrency actually is – whether it’s an asset, currency or collectible – but the ATO has made it clear that it treats cryptocurrency as an asset. That means it’s subject to the same capital gains tax (CGT) provisions that apply to real estate and shares.” Put in simple words, Australians will have to pay the CGT tax on any profits they made from trading cryptocurrencies. So, if you’ve bought back when it was $2,000 and sold it for $20,000, the $18,000 profit will be subject to CGT.
BITFINEX:BTCUSDLong
by DestinationMoonCrypto
Bitcoin Today: calm weekends makes me worryPrice BTCUSD spent the weekend in lateral movement inside the narrow channel 6400 - 6550. But such lateral movement will not last for a long time. As within two days, the price will reach Bearish Trend Line, which imposes the downward tendency of the price and will face a decision, to break the Trend Line and show more bullishness, or bounce downwards from this Line. In a Bullish scenario, the price will meet 7000.0 resistance after breaking above the Bearish Trend Line. In a Bearish scenario, the 6000-6400 support zone will be tested again, and in case of a breakthrough, the price will be headed to the 5000.0 support. Today forecast Trading in the 6000.0 – 7000.0 zone. High risk of fall. Latest news SEC position on BTC, EHT and ICO’s Securities and Exchange Commission (SEC), clarified the regulatory agency's stance on bitcoin, Ether (the token used to pay for transactions on Ethereum's network), and initial coin offerings (ICOs). More specifically, Hinman noted that bitcoin and Ether aren't going to be classified as securities -- and therefore not held to same stringent regulations as publicly traded stocks -- by the SEC. Meanwhile, most ICOs are likely to be classified as securities, and will, therefore, come under more stringent regulation. What's the difference? According to Hinman, it comes down to the expectations of the purchasers of an asset and what role the third party behind a cryptocurrency asset or ICO played. In particular, if investors bought a virtual currency with the expectation of a return on their money, and there was a third party behind that asset (either a person or group of individuals who sponsored the creation or sale of the asset), then it would most likely qualify as a cryptocurrency. For example, since there's a single cryptocurrency and a group of developers behind every ICO, most are liable to be considered securities and therefore come under the SEC's watchful eye. So, how are bitcoin and Ether different? Per Hinman, it's the decentralization of both of their networks. Essentially, there's no third party that either network is reliant on for their success and operation. Said Hinman: “Based on my understanding of the present state of Ether, the Ethereum network, and its decentralized structure, current offers and sales of Ether are not securities transactio BIS releases a negative article about Bitcoin The Bank for International Settlements just told the cryptocurrency world it's not ready for prime time - and as far as mainstream financial services go, may never be. In a withering 24-page article released Sunday as part of its annual economic report, the BIS said Bitcoin and its ilk suffered from "a range of shortcomings" that would prevent cryptocurrencies from ever fulfilling the lofty expectations that prompted an explosion of interest - and investment - in the would-be asset class. In one of its most poignant findings, the BIS analysed what it would take for the blockchain software underpinning Bitcoin to process the digital retail transactions currently handled by national payment systems. As the size of so many ledgers swell, the researchers found, it would eventually overwhelm everything from individual smartphones to servers. "The associated communication volumes could bring the Internet to a halt," the report said. Researchers also said that the race by so-called Bitcoin miners to be the first to process transactions eats about the same amount of electricity as Switzerland does. "Put in the simplest terms, the quest for decentralised trust has quickly become an environmental disaster," they said. "Trust can evaporate at any time because of the fragility of the decentralized consensus through which transactions are recorded," the report concluded. "Not only does this call into question the finality of individual payments, it also means that a cryptocurrency can simply stop functioning, resulting in a complete loss of value."
BITFINEX:BTCUSD
by DestinationMoonCrypto
Bitcoin Today: Not SecuritiesPrice Bitcoin showing gradual growth for the first full day in a long time, at least buy-backs are bigger than sell-offs, talks in favor to the opinion that people are ready to buy BTC at these prices. Currently, the price trades on the 6600.0 level with relatively low volumes, the growth of volumes with the onset of a working day in America can push the price higher, above the 6650.0 resistance. Nonetheless, to break above the next resistance 7000.0, we will need to see some positive fundamental feedback. For now, even if breakthrough of the 6650.0 level will happen the price will probably go into a lateral pattern for the weekends. Otherwise, if markets will see some more negative feedback for BTC, that could trigger profit fixations even after such small growth and sell-off back to the 6000.0 – 6400.0 zone. One more psychological factor is that last fall was occurred during the weekends, hence traders could want to wait until the Monday to buy-in. Today forecast Trading in the 6000.0 – 7000.0 zone. High risk of fall. Latest news Crypto Market Rebounds as SEC Clarifies Bitcoin and Ethereum are Not Securities The cryptocurrency market has rebounded from $271 billion to $291 billion, by more than $20 billion in the past 24 hours, as the US Securities and Exchange Commission (SEC) clarified that Bitcoin and Ethereum are not considered as securities under the laws of the US. At the Yahoo Finance All Markets Summit, William Hinman Director, Division of Corporation Finance at SEC, emphasized during his speech that Ether, the native cryptocurrency of the Ethereum network, and Bitcoin, are not securities as they do not benefit a single organization or a company. Hinman discussed the initial coin offering (ICO) of Ethereum in 2014, which led investors to become concerned about the regulatory aspect of Ether, and noted that despite the token sale of Ether, its decentralized structure and the current state of the Ethereum network eliminate the possibility of categorizing Ether as a security. “And putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions. And, as with Bitcoin, applying the disclosure regime of the federal securities laws to current transactions in Ether would seem to add little value,” Hinman explained. In simple words about John Griffin report on BTC manipulation and Tether Recently all crypto-media was filled with news about the article by Economics professor on Tether and bitcoin manipulation in 2017, which brought the price to the 20000. The 66-page paper, authored by finance professor John Griffin and graduate student Amin Shams, has claimed data suggested that the price of Bitcoin and other cryptocurrencies was artificially inflated by someone connected to a named trading platform – something the platform's CEO denied. The report alleges that the platform used its own virtual coin, Tether, to generate fake demand for Bitcoin by buying up the currency and keeping its price up while its value sank at other exchanges. The more Tether entered the market, the higher the prices of other cryptocurrencies would rise, according to the study. The researchers used algorithms to analyse millions of transactions on the blockchain, discovering that half of Bitcoin’s price increase in 2017 occurred hours after Tether was passed along to several other exchanges. Although they stressed that the report is not conclusive and can’t confirm price manipulation, it has unsurprisingly received global media attention.
BITFINEX:BTCUSD
by DestinationMoonCrypto
Bitcoin Today: John Griffin everywherePrice Yesterday bitcoin showed one more dip, below the 6400.0 level, but was brought back quickly and returned above the 6425.0 level. Such behavior confirms that 6000 – 6400 zone has a strong supportive value for the market. Still, considering the scale of the latest fall, we can expect at least a couple-day long correctional pattern, before the market will be ready to turn upwards. Visually, borders for the upcoming turnaround pattern are 6000.0 – 7000.0. Breakthrough above 7600.0 will restore all losses from the recent fall and bring back positive perception of the market by traders. For now, the best scenario that we expect is testing of the 6650.0 resistance level, and attempt to hold above it. From the downside, 6000 – 6400 zone stays supportive. Today forecast Trading in the 6000.0 – 7000.0 zone. High risk of further fall-down. Latest news CFTC Subpoenas Cryptocurrency Exchanges In Bitcoin Futures Investigation At least half of last year's price boom for Bitcoin and other cryptocurrencies was prompted by price manipulation, according to a new University of Texas study reported by the New York Times. Why it matters: The paper — authored by John Griffin, "an academic with a history of spotting fraud in financial markets," and graduate student Amin Shams — raises questions about whether 2017's spiking prices truly reflected investor demand for cryptocurrencies. Ripple CEO Claims Bitcoin Is Under Control of Small Group of Miners From China Ripple’s CEO Brad Garlinghouse said that “Bitcoin is really controlled by China,” speaking at the 2018 Stifel Cross Sector Insight Conference in Boston, financial news outlet TheStreet.com reported June 12. In a recent interview with Stifel Tech Analyst Lee Simpson, Garlinghouse delved into a number of topics related to blockchain technology and the crypto world, and claimed that BTC is under the control of China, saying: “I’ll tell you another story that is underreported, but worth paying attention to. Bitcoin is really controlled by China. There are four miners in China that control over 50 percent of Bitcoin. How do we know that China won’t intervene? How many countries want to use a Chinese-controlled currency? It’s just not going to happen.”
BITFINEX:BTCUSD
by DestinationMoonCrypto
Bitcoin Today: exchanges under gov pressurePrice Yesterday we saw one more fall iteration, which brought BTCUSD pair to the April minimum at the 6425.0, exactly from this level the April – May growth started. The next support would be February low at 6000.0 level. Turnaround scenario at this point require strong support in the 6000.0 – 6400.0 zone. Otherwise, the price could go lower than 6000.0 minimum, causing more panic and aiming for the next psychological support at the 5500.0. We recommend considering buying these lows only if BTCUSD market will show high volumes and growth above the Bearish Trend Line. Another more probable scenario – lateral stagnation in the 6000.0 – 7000.0 interval, sounds more probable than other scenarios. Today forecast Trading in the 6000.0 – 7000.0 zone. High risk of further fall-down. Latest news CFTC Subpoenas Cryptocurrency Exchanges In Bitcoin Futures Investigation Due to suspicions of market manipulation that may impact the final settlement price of CME's bitcoin futures, the Commodity Futures Trading Commission (CFTC) has reportedly subpoenaed four cryptocurrency exchanges. According to the Wall Street Journal, the regulator demanded that the exchanges – Bitstamp, Coinbase, itBit, and Kraken – provide "comprehensive trading data to assist a probe into whether manipulation is distorting prices" in the bitcoin-linked futures market. This is a complicated matter because the CFTC has claimed oversight and enforcement authority over cryptocurrency-based financial derivatives like bitcoin futures, but seems to possess only enforcement authority over the cryptocurrency spot markets. The inquiry revealed by the Journal on Friday is distinct from the CFTC-DOJ investigation into bitcoin price manipulation, which ETHNews covered last month. The reported concerns about potential manipulation lend credence to the suggestion that bitcoin futures products were rushed to market. No word yet about the CBOE's bitcoin futures product. Bitfinex Tether Trading Identified as Source of Crypto Markets Price Manipulation A document released today by Professor John M. Griffin of the University of Texas’ Finance Department has identified what it claims are suspicious clusters of Tether-Bitcoin bulk trades on the Bitfinex trading exchange towards the end of 2017 which may have, in part, contributed to the price rallies of the cryptocurrency markets of the same period. “Less than 1% of hours with such heavy Tether transactions are associated with 50% of the meteoric rise in Bitcoin and 64% of other top crypto-currencies,” the report claims. “These patterns cannot be explained by investor demand proxies but are most consistent with the supply-based hypothesis where Tether is used to provide price support and manipulate cryptocurrency prices,” the reports further state. Professor Griffin’s report also states that whilst “the promise of a decentralized ledger with independently verifiable transactions has enormous appeal,” the vast majority of crypto-currency trades continue “as transactions occur on centralized exchanges. These exchanges largely operate outside the purview of financial regulators and offer varying levels of limited transparency.”
BITFINEX:BTCUSD
by DestinationMoonCrypto
1
Bitcoin Today: after-fall depressionPrice The market still recovering from the weekend fall, trading in extra narrow boundaries above the 6650.0 level, where the fall found support on Monday. To consider turnaround we need to see a strong increase in volume and a significant upward momentum, which will break above the Bullish Trend Line and return the price in the 7600.0 zone. For now, while we do not see volumes and upward momentum, even if the price will hold above 6650.0 support – the probable scenario is prolonged lateral movement. From the below, we have 6600.0 support and 6000.0 psychological level in case of another one dive. Today forecast Trading in the 6600.0 – 7000.0 zone. High risk of further fall-down. Latest news SEC Chairman: Bitcoin is the only Cryptocurrency that is not a Security In the United States digital assets ecosystem, the Securities and Exchange Commission (SEC) exhibits the most significant regulatory influence. In the latest development, SEC Chairman Jay Clayton made it clear that bitcoin (BTC) is the only cryptocurrency that does not fall under the securities category since the pioneer cryptocurrency can function as an alternative to sovereign fiat currencies. Clayton noted: “Where I give you my money and you go off and make a venture and in return for me giving you my money, you say, ‘You know what, I’m going to give you a return.’ That is a security, and we regulate that. We monitor the offering of that security, and we regulate the trading of that security.” Apple bans cryptocurrency mining on iPhones and iPads During Apple's Worldwide Developers Conference last week, the company released new App Store guidelines that ban cryptocurrency mining on both iOS devices and Mac. AppleInsider first spotted the changes to the policy on Monday. This is the first time Apple has offered a clear stance on its policy on cryptocurrency apps. It comes amid explosive interest in cryptocurrencies like bitcoin, which are "mined" when people use multiple devices to solve complex mathematical problems that lock and unlock information in the blockchain. They're rewarded as each transaction is secured.
BITFINEX:BTCUSD
by DestinationMoonCrypto
Bitcoin Today: drop, hack and criminal probePrice Weekends gave us bitcoin sold off to near the lows we saw at the beginning of the year. As usual, such event drag whole crypto market lower, opening the week almost in all-red. Fro now the fall stopped near the 6650.0 level and went into a narrow lateral movement slightly above it. 6000.0 – 6500.0 zone should play as s strong support, as we saw the last time when the price reached such lows. From the upside, the breakthrough of the Bearish Trend Line or even rise above 7600.0 level would be required to consider buying in near-term. So who do we have to thank, Coinrail or CFTC? Today forecast Trading in the 6000.0 – 7000.0 zone. High risk of further fall-down. Latest news Korean Exchange Hack The news of another hacked South Korean crypto exchange is widely blamed for the drops across the markets. Coinrail, a lesser known Korean trading venue, has reportedly been the victim of a hack – costing the clients of the exchange over $40 million worth of ICO tokens. The hacker stole $19.5 million in NPXS (Pundi X’s ICO tokens), $13.8 million of Aston X, $5.8 million in tokens of Dent, over $1.1 million of Tron, and at least five other tokens, all just from exchange users not the projects themselves. In response to the event, Coinrail has announced it suspended trading and moved the remaining 70% of its client assets to cold storage, as well as notified the police. While the figures involved are much smaller than past events, many link this incident to the markets bleeding red over the weekend. CFTC Subpoenas Leading Exchanges for Trading Data According to anonymous sources cited by The Wall Street Journal, The United States Commodity Futures Trading Commission (CFTC) is coordinating with the U.S. Justice Department in conducting investigations into price manipulation in the spot BTC markets. The report claims that the CFTC launched a criminal probe into BTC price manipulation after several cryptocurrency exchanges rejected a request from Chicago Mercantile Exchange (CME) for the exchanges to share trading data CME. The investigation is legitimated by bitcoin’s designation as a commodity, juridically granting the CFTC jurisdiction over the commodity markets underscoring derivative markets overseen by the regulator. CME spokeswoman, Laurie Bischel, stated: “All participating exchanges are required to share information, including cooperation with inquiries and investigations.”
BITFINEX:BTCUSD
by DestinationMoonCrypto
Bitcoin Today: already tired of 7600 levelPrice 7600 level stays a cornerstone for the price. Today volume distribution peak stays above the 7600.0 level, though the price dips below it and now hanging on the passed recently Bearish Trend Line. It worth saying that some traders consider a breakthrough pattern of the angle lines (Bearish Trend Line) this way: breakthrough -> come back to the line -> take-off. Near-term resistance, the crossing of which can free the price from the 7600 level attraction is 7750 level. From the below, 7400 – 7600 zone stays a buying zone, dive below the 7400 level could cause a panic and sell-off till the 7000 psychological support. Today forecast Trading in the 7500.0 – 7750.0 zone. Latest news Regulations Round-Up: CFTC Rejects FOIA Request, SEC Not Modifying Securities Laws In recent regulatory news, the United States Commodity Futures Trading Commission (CFTC) has rejected a Freedom of Information Act (FOIA) request regarding the subpoenas recently received by Bitfinex and Tether; the United States Securities and Exchanges (SEC) Chairman, Jay Clayton, has indicated that the regulator will not alter existing securities legislation to cater to cryptocurrencies. Maria Vullo, the Superintendent of Financial Services for the State of New York, has praised the regulatory efforts made by the CFTC and SEC in the arena of initial coin offerings, and the SEC has announced Valerie Szczepanik as the commission’s new Senior Advisor for Digital Assets and Innovation. The FOIA request, dated June 5th, requested “subpoenas issued to Ifinex inc. also known as Bitfinex and its subsidiary companies, as well as subpoenas issued Tether Limited and its subsidiary companies.” Chinese Bitcoin Mining Chip Maker Bitmain Considers IPO Beijing-based Bitcoin miner and mining chip designer Bitmain Technologies Ltd. is considering an initial public offering in Hong Kong or in an overseas market with U.S. dollar-denominated shares, Bitcoin’s co-founder Jihan Wu told Bloomberg in an interview. Wu did not disclose the size of its IPO but Bloomberg estimates the valuation of the firm to be about US$8.8 billion by applying a multiple similar to that of publicly listed chipmakers such as Nvidia Corp. and MediaTek Inc, even though it does not have the operational track record of either company. Founded in 2013, Bitmain develops and sells Bitcoin miners using its application-specific integrated circuit (ASIC) chip technology. It has offices in Amsterdam, Hong Kong, Tel Aviv, Qingdao, Chengdu, Shanghai and Shenzhen. The firm controls as much as 80% of the market for crypto mining gear, according to Sanford C. Bernstein & Co. Wu told Bloomberg that his company booked revenue of US$2.5 billion last year. In 2017, Bitmain raised US$50 million from several ventures firms including Sequoia Capital and IDG Capital. Bitmain’s planned IPO will give these investors an opportunity to cash out.
BITFINEX:BTCUSDLong
by DestinationMoonCrypto
Bitcoin Today: Above 7600 but suspiciously quietPrice After a little dive, the market managed to gain enough volume and break above the Bearish Trend Line zone. After the breakthrough of the resistance area along with 7600.0 level, BTCUSD froze on the 7700.0 level and holding on the 7700 for the 9 hours already, showing ultra thin volatility. Where we could go from here? Depends on whether the price will be able to hold above 7600.0 this time. If we stay above 7600.0 – the next resistance on the way up will be 8000.0. Today forecast Trading in the 7600.0 – 8000.0 zone. An upward impulse to 8000.0 resistance is possible. Latest news SEC still won’t treat Bitcoin as a security Securities and Exchange Commission Chairman Jay Clayton said Wednesday that the agency would continue its regulatory stance of not treating bitcoin as a security. “We’ve been doing this a long time — there’s no need to change the definition,” Clayton told CNBC. Initial coin offerings do have to comply with SEC regulation, Clayton said. Coinbase to Become First Broker-Dealer to Offer SEC-Regulated Crypto Securities In an official announcement earlier today, Coinbase revealed its plans to become the very first crypto broker-dealer, capable of offering blockchain-based securities which are under the purview of the Securities and Exchange Commission (SEC). Asiff Hirji, acting President and Chief Operations Officer (COO) of Coinbase, announced that the leading US cryptocurrency exchange is on the verge of becoming a broker-dealer capable of offering crypto securities regulated by the SEC. Should Coinbase succeed in getting their licenses approved, this would significantly broaden its potential service capabilities, essentially turning it into the first regulated cryptocurrency broker-dealer under the purview of the SEC and FINRA. As noted in the announcement, this would set the exchange on a path where it can offer crypto securities trading, margin trading, and over-the-counter (OTC) trading, as well as new market data products. Given the fact that there are numerous digital assets on the market, with quite a lot of them fulfilling the lawful definition of a “security”, this could potentially open up the door for serious market expansion. In the words of Mr. Hirji: Ultimately, we can envision a world where we may even work with regulators to tokenize existing types of securities, bringing to this space the benefits of cryptocurrency-based markets — like 24/7 trading, real-time settlement, and chain-of-title.
BITFINEX:BTCUSDLong
by DestinationMoonCrypto
Bitcoin Today: B- raiting for BTCPrice The almost lateral movement brought the price to the Bearish Trend Line zone, breakthrough of this zone would mean a breakthrough from the long-established downward tendency. Meeting with this zone send the price down to the 7400.0 support level. 7200- 7400 zone should still play a supportive role, but to return to the uptrend bias BTC will need to show high momentum and volumes. Otherwise, breakthrough of such resistive zone seems impossible, and each time when the price will get close to the Bearish Trend Lines - it will go down. Today forecast Trading in the 7200.0 – 7600.0 zone. Latest news Weiss Ratings Publishes Complete List of 93 Cryptocurrency Ratings US independent rating agency, Weiss Ratings, has published its complete list of 93 cryptocurrency ratings. The company has upgraded its BTC rating to B-. The list shows 14 coins with B ratings including ETH, IOTA, NEO, XRP, STEEM, TRX, and XLM. Fifty-four of the rated cryptocurrencies carry C ratings. Weiss Ratings, which began in 1971, is the US-based leading independent rating agency of financial institutions. Today, Weiss Ratings assigns letter grades to about 55,000 institutions and investments, including nearly all of the insurance companies, banks, credit unions, stocks, ETFs and mutual funds. “Investors should interpret the Weiss Cryptocurrency grade scale with these terms,” the company explained. “A = excellent; B = good; C = fair; D = weak; E = very weak.” In addition, Weiss Ratings wrote, “A plus or minus sign indicates the upper third or lower third of a grade range, respectively. In addition, an F grade is assigned to cryptocurrencies that have failed or are subject to credible allegations of fraud.” The company’s list of 93 crypto ratings does not contain any coin with an F rating. Weiss Ratings elaborates: “Cryptocurrencies do not have to achieve an A grade to merit interest by investors. A ‘B’ or even ‘B-‘ also qualify as the investment rating equivalent to ‘buy.’ At the same time, investors should not be overly alarmed by a ‘C’ rating. It is a passing grade; and for investors, implies the equivalent of ‘hold.’” Compiled on Friday, the list shows an overall rating of B- for BTC and C- for BCH. No cryptocurrency on the list has received an A or a B+ rating. Overall, fourteen coins were rated B or B-. ADA, DCR, EOS were rated B, whereas BTC, ETH, BTS, IOTA, ONT, NEO, XRP, STEEM, TRX, XLM, and ZIL were rated B-. 54 cryptocurrencies were rated either C, C+ or C-. They include BCH, DASH, DOGE, ETC, LSK, LTC, XMR, XEM, QTUM, SC, STRAT, UBQ, VEN, WAVES, and ZEC.
BITFINEX:BTCUSD
by DestinationMoonCrypto
Bitcoin Today: Lazy tendencyPrice BTCUSD spent weekends above the 7600.0 level, still did not manage to gain momentum and returned to the 7600.0 mark today. Despite frequent corrections, the price holds in the bullish bias. Bearish Trend Line will be met on this week, in two days if growing tendency will remain. 8000.0 Level should be tested after conquering the Bearish Trend Line. 7000.0 – 7600.0 zone stays supportive for the growth scenario. Today forecast Trading in the 7400.0 – 8000.0 zone. Upward impulse to 8000.0 is possible. Latest news ZenCash Target of 51% Attack; Loses More than $500k in Double Spend Transactions. ZenCash is a Proof of Work cryptocurrency based on the Equihash mining algorithm. Equihash is used by several other popular currencies, most notably ZCash, meaning that there is a very large pool of total Equihash hash rate in the world that can be used on a variety of networks. ZEN is a fork of ZClassic that launched in late May 2017, using the same codebase as ZCash. Yesterday, the ZenCash network experienced a 51% attack, where one person or party controls 51% of the hash rate. The hash rate influx allowed the attacker to reorganize the blockchain several times, with the largest rollback reversing 38 blocks. The attacker also was able to double spend two massive transactions – 13,000 and 6,600 ZEN – worth more than $550,000 at current prices, according to a statement made by the development team. Mining pool operators notified the ZenCash team of a potential attack and exchanges were quickly contacted and warned to increase confirmation times. Venezuelan Authorities Raid Mining Operations After Instituting Ban. Venezuelan authorities have sought to crack down on cryptocurrency mining, with local media reporting that government has banned the importation of mining hardware into the country. International shipping companies such as DHL, Domesa, and Learexpress have been informed of the prohibition on mining hardware imports. The raids are being carried out just a few months after the Venezuelan government requested that the country’s mining community create a national registry of miners – at the time inciting suspicion among Venezuelan cryptocurrency users.
BITFINEX:BTCUSD
by DestinationMoonCrypto
Bitcoin Today: Bittrex launches fiat, but not for everyone.Price Holding on to the Bullish Trend Line BTCUSD shows low volatility during today session, it is visible that 7600.0 level acts as resistance and reflects the price. Nonetheless, most volumes have been traded close to the 7600.0 level favors a possible breakthrough. Support levels for today are Global Bullish Trend Line and 7400.0 level. In case of breakthrough of the 7600.0 level price will go for the 8000.0 resistance and Bearish Resistance Trend Line, which intersects the 8000.0. Today forecast Trading in the 7400.0 – 8000.0 zone. The upward impulse to 8000.0 is possible. Latest news Bittrex Launches USD Fiat Trading.** Bittrex has finally introduced fiat currency support. The US exchange, which was established in 2013, subsisted with tether as its USD surrogate until recently, before adding another stablecoin, TrueUSD, a couple of months ago. Around the same time, its CEO Bill Shihara revealed that the platform would be adding USD pairs and today they went live for corporate clients. Bittrex, along with exchanges such as Binance and Upbit, has been gradually weaning itself away from tether, which for a long time was the only dollar-based hedge available. It has been speculated that the desire to list other stablecoins, and to eventually pivot to USD, was partially born out of a desire to be less reliant on the notoriously opaque tether. Whatever the reasoning, Bittrex has now secured the banking facilities necessary to enable fiat-crypto trading, and in Malta Binance is believed to be following suit. Bloomberg reports that Bittrex has inked a deal with New York’s Signature Bank. This will allow corporate clients in certain US states to make fiat deposits. While retail investors will be unable to benefit from this facility initially, Bittrex hopes to eventually roll the service out to all users who reside in states where it is licensed. As of today, May 31, corporate traders in Washington, California, New York, and Montana can make fiat deposits. Due to the restrictions in place, which will prevent the majority of Bittrex’ three million users from being able to participate, USD trading volume is likely to be low to begin with. Israel Delays Crypto Exchange Regulations by 4 Months. The finance committee of the Knesset, the legislative branch of Israel’s government, convened a special meeting on Wednesday to postpone the law regulating cryptocurrency exchanges. The original plan was for the law to take effect on June 1, but its introduction has now been delayed by four months, Jacob Enoch, co-chair of the Israel Bar Association (IBA), told Cryptovest in an e-mail. The surprising postponement leaves financial services providers and Israeli companies without any regulation for cryptocurrency exchanges.
BITFINEX:BTCUSDLong
by DestinationMoonCrypto
Bitcoin Today: still risingPrice The market showed a dip to the 7300.0 yesterday, but it was quickly picked up, and the price returned back to the 7500.0 level. Average trading volumes of last three days are gradually uptrending, though the growth is not drastic the important at least hold on one level. Breakthrough of the 7600.0 resistance is required to continue bullish movement. Two rising days formed a Bullish Trend Line, which will serve as a support for the uptrend. Next big resistance on the way up will be 8000.0 level. Breakthrough below the Trend Line and further dive under 7200.0 level will dismiss a rising scenario. Today forecast Trading in the 7500.0 – 8000.0 zone. The upward impulse to 8000.0 is possible. Latest news Korean Supreme Court Rules Cryptocurrency Is Asset With Economic Value. South Korea’s top court ruled on Wednesday that the government could confiscate cryptocurrencies as crime profits since they are assets with economic value. The case involves Ahn, who operated an online porn site, and his 191 BTC that the prosecution confiscated, as news.Bitcoin.com previously reported. “This marks the first time a cryptocurrency has been subject to confiscation,” the Korea Times wrote. Ripple CEO says that correlation between Ripple and Bitcoin will decrease. Bitcoin’s influence over the prices of all digital assets may start to wane soon, believes the CEO of Ripple, Brad Garlinghouse. In 2018, altcoins mostly rallied in lockstep with Bitcoin, with rare exceptions. However, the trend may soon turn, as market participants realize the fundamental differences between Bitcoin and other digital assets. "There's a very high correlation between the price of XRP and the price of bitcoin, but ultimately these are independent open-sourced technologies," Garlinghouse said in an interview for CNBC’s Power Lunch. "It's early, over time you'll see a more rational market and behaviors that reflect that," Garlinghouse said.
BITFINEX:BTCUSDLong
by DestinationMoonCrypto
Bitcoin Today: Eastern easingPrice Yesterday BTC broke through the ten-days downward tendency and returned above the Global Bullish trend line. The rise is associated with the thaw in the China course on crypto, as China’s president Xi Jinping spoke in Chinese Academy of Sciences this week endorsed the potential that blockchain technology has to global economies. Despite the 7100 – 7500 diapason most of the volumes were traded at the 7500.0 level, which talks in favor of bullish moods. Today BTCUSD went into a narrow lateral corridor between 7500 and 7600 levels, the breakthrough of the 7600.0 resistance will send the pair testing the 8000.0 resistance and possibly more global Bearish Trend Line. Drop below the 7400.0 level with high selling volumes could call into question this rebound attempt. Today forecast Trading in the 7400.0 – 7600.0 zone. An upward impulse to 8000.0 possible. Latest news South Korean Government Plans to Re-Legalize ICO. South Korean government plans to re-legalize initial coin offerings (ICOs) through an official recommendation document after imposing a total ban on ICOs in last September, reported local news outlet on May 29. The National Assembly Committee was formed in order to study the ‘Fourth Industrial Revolution’. The group will focus on establishing “a legal basis for cryptocurrency trading and ICOs”, according to Business Korea. Direct speech: “We will also establish a legal basis for cryptocurrency trading, including permission of ICOs, through the National Assembly Standing Committee.”
BITFINEX:BTCUSDLong
by DestinationMoonCrypto
Bitcoin Today: 100 a dayPrice The bearish impulse at the beginning of the day continued the three-day series of falls, 100 dollars a day, today medium price is 7100. Price holds on to the Bearish Trend Line and already lost 30% from the 10000 testing at the 2018.05.05. Slowing day by day downward momentum possibly could be the sign of oversold market, the 7000.0 level would be a logical place to start buying, as it still will roughly fit into a bullish tendency. On the other side, dive below the 7000.0 level will send the price to the last resort – 6000.0 level. Lowering below the 6000.0 would definitely cause a panic on markets. Crossover of the Bearish Trend Line and return above Bullish trend line would be a signal of the rebound beginning. Today forecast Trading in the 7000.0 – 7400.0 zone. Latest news Chinese Internet security giant 360 has found "a series of epic vulnerabilities" in the EOS platform. cnLedger twit: “Chinese Internet security giant 360 has found "a series of epic vulnerabilities" in the EOS platform. Some of the bugs allow arbitrary code to be executed remotely on EOS nodes and even taking full control of the nodes.” The information shared by 360 goes on to explain what the vulnerabilities consist of. In a potential attack, the wrongdoer has the capability to publish a smart contract which contains malicious code. The supernode of the EOS network will supposedly execute said malicious contract and generate a security hole. The attacker would then be able to re-use the supernode in order to package the already executed malicious contract into a brand new block which would respectively enable all the full nodes in the network, including the digital currency wallet server node, the alternate supernode, and others, to be remotely controlled. Bithumb to Ban Crypto Trading in 11 Countries. Bithumb is set to ban virtual coin trading in North Korea and ten other countries that are considered as high-risk jurisdictions by the Non-Cooperative Countries and Territories (NCCT) Initiative, the crypto exchange announced on Sunday. The move was an attempt to prevent its infrastructure and platform from being used to launder money and any international finance terror or criminal activities, Bithumb said, adding that it will no longer accept new users from the 11 countries. Meanwhile, Cape Town-based asset management firm Signia is planning to introduce its own cryptocurrency exchange. Maria Wierzycka, CEO of the company, informed the press that the proposed platform will be launched between July to September this year. The exchange will be called SigniaCoin, Wierycka said. The company is also planning to develop a fund to grant users access to myriad of crypto assets, according to reports. Contries: North Korea, Iran, Iraq, Serbia, Sri Lanka, Ethiopia, Syria, Trinidad and Tobago, Tunisia, Vanuatu, Yemen.
BITFINEX:BTCUSDLong
by DestinationMoonCrypto
3
Bitcoin Today: price goes lower, why?Price The price could not hold above the Bullish Trend Line and broke below it on 26.05.2018. May 27 was held in a lateral manner around 7300.0 level. Monday started with another decline to the 7200.0 level, the decline was accompanied with the huge volumes, and it worth noticing that such significant volume did not move the price below the 7000.0 support, hence a big part of the volume was a buying volume. The pattern stays Bearish, bounded below the Bearish Trend Line. To change the overview, we will need to see a rise above the Bearish Trend Line and 7600.0 level. From the below, 7000.0 level s the closest support, in case of a breakthrough, the price will go in for the 6000.0 low. Today forecast Trading in the 7000.0 – 7600.0 zone. Possible reasons of recent falls Since May 21 BTCUSD price is in a robust Bearish pattern. The prevailing opinion in bitcoin community that it may have to do with the Chinese ICO markets being highly active despite the ban and resulting in strict regulatory actions. The Chinese government has officially announced that it deems shady ICOs as great risks and that the government watchdog is keeping a close eye on excessive speculation, fraudulent profit schemes, and fake propaganda. Another popular opinion – Mt Gox sell-offs which made bitcoin lose 9000 USD footing. Bitcoin markets experienced high losses when the news broke out regarding initial Mt Gox sell-off. The executives who are in charge of refunding users of Mt Gox before its hack apparently sold around 8000 BTC which amounts to be approximately, 70 million USD. Upbit investigation news caused a pretty big shock for the markets. Upbit which is known as one of the most influential crypto exchange located in South Korea was suddenly investigated by Financial Supervisory Commission. FUD spread fast, and millions of traders assumed that Upbit which is a subsidiary of communications Influencer Giant ‘Kakao’ might’ve been compromised. After some time, an official announcement came out from Upbit confirming that there haven’t been any raids of any sort and that the motive of FSC, as well as the Korean police force, was an investigation and that the exchange platform remains functional. Last popular negative news of recent times - Bitfinex newly implemented taxation policy. On 17th May, Bitfinex requested some of their users to forfeit their Tax IDs and their social security number which the government of the British Virgin Island (Bitfinex headquarter) may exchange with tax authorities of the country to which the user belongs. This idea was immediately boo-ed by crypto enthusiasts and influential trading groups such as Whalepool which publicly announced that they’ll stop using Bitfinex unless the taxation policy remains.
BITFINEX:BTCUSD
by DestinationMoonCrypto
3
Bitcoin Today: Maybe take-off at the second attempt?Price As was expected BTCUSD price has reacted on the Bullish Support level and jumped off with high volume. Nonetheless, 7600.0 level stopped the growth, and the price dropped back to the support. For now, bitcoin price is trading on the Bullish Trend Line, a little higher than it was yesterday. As the Trend Line is leaning towards the 7600.0 resistance, the breakthrough of one of the lines is inevitable in near term. Breakthrough below the 7000.0 level will confirm the breakthrough of the bullish tendency and send BTCUSD to the lows at 6000.0 level. From the upside, fast growth through 7600.0 – 8000.0 zone accompanied by high volumes would be a sign that Buyers found a bottom and ready to buy in with a new power. The most probable forecast for today – low amplitude lateral movement. Today forecast Trading in the 7000.0 – 7600.0 zone. Latest news Bitcoin Gold Hacked for $18 Million. It appears Bitcoin Gold (BTG) has been double spend attacked over and over again, totalling something in the neighborhood of $18 million at current prices. BTG forums seem to have been tracking the hack, going as far back as last week, monitoring the controversial coin’s hashrate, ultimately determining a 51% attack was under way. US Justice Department Investigates Price Manipulation in Bitcoin Market. The US Department of Justice (DOJ) has reportedly launched a criminal investigation to determine if big money traders are manipulating the prices of Bitcoin, Ether and possibly other cryptocurrencies. The illicit trade tactics that the DOJ is looking into include spoofing and wash trading, and federal prosecutors are working in collaboration with the Commodity Futures Trading Commission (CFTC) on the investigation, this according to “four people familiar with the matter” cited by Bloomberg. US authorities are reportedly concerned that cryptocurrency markets are prone to manipulation for some reasons including doubts that all trading venues are on the lookout for fraudsters, massive price swings that make it possible to steer valuations and a lack of strong regulations on crypto exchanges. While many will surely applaud the DOJ for its diligence in protecting crypto investors, skeptics might wonder if US authorities are not doing this also in an effort to further cool the market down by frightening investors. They are not generally known to be welcoming toward the field, and only recently it was revealed that American regulators also took part in a crackdown on what they call “fraudulent ICOs and crypto-asset investment products.”
BITFINEX:BTCUSDLong
by DestinationMoonCrypto
Bitcoin Today: BTC reached Global Bullish SupportPrice Bitcoin is falling for the fourth day in a row, breaking major support at 8000.0. Yesterday the price briefly stopped at 7600.0 but did not find sufficient support and continued falling. Global Bullish Trend Line, conducted through the 2017 lows, 2018.02.06 and 2018.04.01, lies between 7000.0 and 7600.0 levels. Breakthrough of this support could change the overall bullish bias of BTCUSD chart. Nonetheless, the 7000.0 – 7600.0 zone is definetely have a strong supportive value. If the turnaround in the current scenario is possible, it should happen somewhere between 7000.0 and 7600.0. Breakthrough of the 7600.0 level could be valued as a beginning of turnaround pattern. Breakthrough of 8000.0 should bring more confidence to bulls. Today forecast Trading in the 7000.0 – 7600.0 zone. Latest news The US has reportedly opened a criminal probe into market manipulation of bitcoin and other cryptocurrencies. The US Justice Department has reportedly opened a criminal probe into potential market manipulation of bitcoin prices, according to a Bloomberg report. Bloomberg reported that the Justice Department is working with the Commodities and Futures Trading Commission (CFTC), which oversees cryptocurrency derivatives, to investigate potential market manipulation. The investigation is said to focus on "spoofing" — where false orders are placed on exchanges and then withdrawn to manipulate prices — in an attempt to lure other people into buying or selling and "wash trading," where market participants trade with themselves to create the illusion of market activity. These kinds of activities allow bad actors to manipulate the price of assets in their favor. Spoofing and wash trading are illegal in mainstream regulated markets such as equities and futures. Indian Government Considering 18% Retroactive Tax on Crypto Trading, Mining. The government of India is reportedly considering levying a type of consumption tax on cryptocurrency trading and even mining. The most grievous part of this proposal is that it may also be a retroactive measure, demanding payments for past actions. The Indian Central Board of Indirect Taxes and Customs is working on a proposal to impose an 18% tax on cryptocurrencies. The proposal will be considered by the Goods and Services Tax (GST) Council once it will finalized, “people with direct knowledge of the matter” told Bloomberg. The Indian government is now considering that the tax on crypto will be applied retroactively since the start of the GST system, according to the same anonymous sources cited above. The meaning of this is that people will have to pay for actions they took about a year or so before the new policy, assuming it will be decided on in a couple of months.
BITFINEX:BTCUSDLong
by DestinationMoonCrypto
Bitcoin Today: How low we have to go to start to grow?Price Instead of the breakthrough of the Bullish Trend Line yesterday we got a rebound of this angle line and one more painful dive below the 8000.0 level. The fall stopped, and price started to pick-up at the 7800.0 level, not reaching 7600.0 (coinciding with 61.8 Fibo level support). As was stated yesterday, we could count on the turnaround only if we will see a fracture of downtrend tendency in the form of the breakthrough of the Bearish Trend Line, supported by growth in volumes. 7600.0 level should play a supportive role in case of further downward movement. Today forecast Trading in the 7800.0 – 8000.0 zone. Latest news Alexander Vinnyk pleaded guilty to laundering money through BTC-E. A suspected BTC-E operator Alexander Vinnik was arrested while vacationing with his family in Greece. Interfax reports: Russian Alexander Vinnik, who was arrested in Greece on suspicion of laundering $ 4 billion through the BTC-e crypto exchange, confessed to Russian law enforcement agencies in fraudulent activities on the territory of the country, which caused damage of 750 million rubles. As noted in the document, Vinnik admitted that in the period from 2011 to 2017 as a result of his fraudulent actions, namely through money laundering, an unspecified group of Russian citizens suffered material damage amounting to 750 million Russian rubles. Besides, having access to the btc-e.com exchange, he committed fraud in the field of computer information. Ilias Spirliadis, Vinnik lawyer, explained that the turnout "with the guilt" could become the basis for Russia's new request for the extradition. Recall, earlier in May Alexander Vinnik refused to deal with the US authorities, who offered him a minimum prison sentence in exchange for the confession. At the beginning of the year, the employees of the Greek prison prevented a murder attempt on Vinnik, which could be related to his testimony to Russian investigators about a number of crimes in the sphere of financial technologies. It was found that the trail of the customer leads to Russia. Chilean President Considering Regulation of Cryptocurrencies. During a forum recently held by Chile’s Finance Commission of Deputies, President Marcel made comments indicating that his administration is considering developing a legislative apparatus designed to regulate and monitor activities pertaining to Chile’s cryptocurrency sector. Presently, cryptocurrencies are entirely unregulated in Chile, and are not legally recognized as a means of exchange or securities. Recall, that in March, two Chilean cryptocurrency exchanges, Buda and Crypto Mkt, had problems with banks that one by one closed accounts of exchanges.
BITFINEX:BTCUSD
by DestinationMoonCrypto
Bitcoin Today: One more dipPrice The Friday started with another one dip of the BTCUSD and renewal of the near-term minimums. The fall has started yesterday and brought the price below the 8000.0 level, this zone showed high level of support and brought the price back, above 8100.0 level. Comeback to the 8500.0 level will be needed to restore the bullish view of bitcoin. In case of a breakthrough of the 8000.0 level, the next resistance will be seen at the 7700.0. Today forecast Lateral trading in the 8000.0 – 8500.0 zone. Latest news South Korea to Follow G20 Unified Cryptocurrency Regulations. The South Korean government reportedly plans to soften its crypto regulations in line with the policies set by the G20 nations in an effort to create “unified regulations.” The Korean regulators have also agreed to apply the standards set by the Financial Action Task Force to its crypto policies. The top financial policymakers of these countries have agreed to acknowledge and regulate cryptocurrencies as financial assets, the news outlet noted, elaborating: “Financial policymakers of G-20 nations have set a July deadline for the first step toward ‘unified regulations’ of cryptocurrencies. One reason for the move by the G-20 is that they see cryptocurrencies as ‘too small to jeopardize’ financial markets. The combined market value of cryptocurrencies is less than 1 percent of the global GDP.” Switzerland Formally Considers State Backed Cryptocurrency. Reuters reported Switzerland is formally considering the possibility of a state-backed cryptocurrency. Its government has asked legislators commission a study on the pros and cons of a Swiss “e-franc.” Switzerland’s Federal Council explained why it was asking for a formal study of state backed cryptocurrency. “The Federal Council is aware of the major challenges, both legal and monetary, which would be accompanied by the use of an e-franc. It asks that the proposal be adopted to examine the risks and opportunities of an e-franc and to clarify the legal, economic and financial aspects of the e-franc.” Binance Delays TrueUSD Launch. After announcing its plans to start offering TrueUSD (TUSD) trading on Friday, May 18th, at 4:00 am (UTC), Binance has postponed the launch of the USD-pegged stablecoin. Binance will no longer be launching TrueUSD (TUSD) trading on Friday, May 18th, at 4:00 am (UTC), as was originally planned. Instead, the hugely popular cryptocurrency exchange will start offering TUSD trading on May 22nd, at 4:00 am (UTC). “Due to popular demand, the TrueUSD (TUSD) project team requires more time than originally planned to prepare for sufficient liquidity. Binance will therefore postpone the trading start date to 2018/05/22 04:00 AM (UTC). Deposits for TUSD will remain open during this period. Thank you for your understanding.”
BITFINEX:BTCUSD
by DestinationMoonCrypto
Bitcoin Today: digesting Bing news like all othersPrice After a regular reaction to the next stage of advertisement restrictions, now from the second largest search engine Bing, bitcoin crashed to the 8100.0 level yesterday. For now, BTCUSD went into a gradually rising channel in the 8100.0 – 8500.0 zone, such pattern suggest that there are traders willing to buy at this price which is a positive sign. Support levels zone is 8100.0 – 8300.0, break below this zone will probably provoke breakthrough of the 8000.0 level and a fall to the lower support levels around 6000.0 – 7000.0 zone. From the upside, 8800.0 level should be pierced to continue upward movement. Today forecast Lateral trading in the 8100.0 – 8500.0 zone. Latest news Thailand Waives 7% VAT for Individual Cryptocurrency Investors. Thailand’s Revenue Department has announced that it will waive the 7% value-added tax for individual cryptocurrency investors. The country began regulating digital currencies and initial coin offerings on Monday, putting the Thai Securities and Exchange Commission (SEC) in charge of the regulations. Director of Legal Affairs of the country’s Revenue Department announced at a press conference on Tuesday: “The Revenue Department will waive value-added tax for people trading in cryptocurrencies on exchange markets approved by the Securities and Exchange Commission (SEC).” Iran and Russia to Create Crypto Alternative to SWIFT. Recognizing the opportunity to minimize dependence on the US dollar, Iranian authorities have turned their attention to cryptocurrencies. Iran’s central bank has commenced work on proposals to use cryptocurrency in international trade, as requested by the parliamentary Committee on Economic Affairs, Interfax reported. Teheran has established cooperation with Russia on the matter following a meeting with the chairman of the Economic Policy Committee of the upper house of Russia’s parliament, Dmitriy Mezentsev. Purebrahimi said that the two countries may be the first to use cryptocurrency in bilateral trade transactions. Head of the committee, Mohamad Reza announced: “Cryptocurrencies offer a good opportunity to circumvent the use of the dollar, and also replace the SWIFT system”
BITFINEX:BTCUSD
by DestinationMoonCrypto
Bitcoin Today: Et tu, Bing?Price BTCUSD had a dip again, this time the pair went to the Bullish Trend Line and found support only there, around 8200.0 level. The dip appears to be related to reports that Microsoft’s search engine, Bing, has followed in the footsteps of tech giants Facebook, Google, and Twitter by banning crypto-related advertising. Still, as the price holds near the 8500.0 level, above the Bullish Trend Line – overall overview stays positive for now. Nonetheless, too long stay below the 8500.0 level will eventually lead the price below the Bullish Trend Line, which gradually goes up, hence could bring more negatives to the price pattern. Support levels zone is 8000.0 – 8300.0. From the upside, 8800.0 level should be pierced to continue upward movement. Today forecast Lateral trading in the 8200.0 – 8800.0 zone. Latest news Microsoft’s Search Engine Bing Says It Will Ban Crypto-Related Ads By July 2018. Microsoft-powered search engine Bing has joined other internet giants in announcing it will ban cryptocurrency-related advertisements on its network by July 2018, according to an official blog post today, May 15. According to the statement, the main reason for the company’s decision to ban “advertising for cryptocurrency” and “cryptocurrency related products” is the current unregulated status of cryptocurrencies, which allegedly increases risk for Bing’s users: “Because cryptocurrency and related products are not regulated, we have found them to present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviors, or otherwise scam consumers.” EU Adopts Rules to Reduce Anonymity for Crypto Users. A directive affecting the crypto sector in Europe has been adopted by the EU Council. The document updates the anti-money laundering legislation of the European Union to address, among other issues, “the risks linked to virtual currencies.” The new rules aim to reduce anonymity for both users and transactions with requirements for know-your-customer procedures that crypto platforms will have to implement. Meanwhile, a high-ranking ECB official has called for segregating the crypto business from traditional finances. Amazon Makes Big Blockchain Move For AWS. Amazon’s cloud computing division is making big moves in the blockchain space, CNBC reported: It is partnering with Kaleido to give AWS customers access to the blockchain. “They can focus on their scenario and they don’t have to become PhDs in cryptography, we give them a simple platform to build their company on blockchain,” Steve Cerveny, a Kaleido founder, told CNBC.
BITFINEX:BTCUSDLong
by DestinationMoonCrypto