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South Korean University, Radio Broadcast Group Promote Blockchain-Academia Relationship

Cointelegraph By Max Yakubowski — Fri, 16 Nov 2018 08:20:00 -0500

A South Korean province has established a blockchain center for industry-academia relations development

Binance the Latest Exchange to List Goldman Sachs-Backed USDC Stablecoin

Mark Emem — Fri, 16 Nov 2018 07:44:27 -0500

Leading cryptocurrency firm Binance has become the latest exchange to list the USDC stablecoin. In a statement, the cryptocurrency exchange indicated that trading of the USDC and bitcoin (USDC/BTC) pair, as well as the Binance token and the USDC (USDC/BNB) pair, will commence on November 17. Depositing the stablecoin which is pegged on a one-to-one … Continued

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Japan: Queries About Cryptocurrencies Steadily Decline, Financial Regulator Reveals

Cointelegraph By Ana Berman — Fri, 16 Nov 2018 07:41:00 -0500

Japan’s financial watchdog, the FSA, revealed data on the last quarter, showing that investors’ crypto inquiries are steadily decreasing

Canada, UK, Singapore Central Banks: CBDCs Would Reduce Risks in Cross-Border Payments

Cointelegraph By Marie Huillet — Fri, 16 Nov 2018 07:33:00 -0500

CBDCs can improve counterparty credit risk for cross-border interbank payments and settlements, according to the central banks of Canada, U.K. and Singapore

Why Did Crypto Market Experience a $27 Billion Wipeout? Experts Discuss Factors

Cointelegraph By Joseph Young — Fri, 16 Nov 2018 07:16:00 -0500

Crypto market experienced a major $27 billion drop. While some traders see the Bitcoin price dropping further, some institutional investors aren’t worried whether Bitcoin hits $3k or $10k by the end of 2018

Erik Voorhees, Salt Lending Being Investigated by SEC, Report Says

Daniel Palmer — Fri, 16 Nov 2018 07:10:25 -0500

Crypto loans startup Salt and its former CEO are said to be under investigation by the SEC, according to the The Wall Street Journal.

Azerbaijan: Central Bank Doesn’t Plan to Issue Its Own Cryptocurrency

Cointelegraph By Max Yakubowski — Fri, 16 Nov 2018 06:59:00 -0500

The Central Bank of Azerbaijan doesn’t plan to issue its own digital currency, considering it very “risky”

Bitcoin Price Pattern Suggests a Bounce May Be Coming

Omkar Godbole — Fri, 16 Nov 2018 06:30:25 -0500

If past events are a guide, bitcoin could in for a recovery rally, following the formation of a "long-legged doji" on the charts Thursday.

Bitcoin Chart Pattern Suggests Price Bounce Coming

Omkar Godbole — Fri, 16 Nov 2018 06:30:25 -0500

If past events are a guide, bitcoin could in for a recovery rally, following the formation of a "long-legged doji" on the charts Thursday.

Bitcoin Charts Suggest Price Bounce Coming

Omkar Godbole — Fri, 16 Nov 2018 06:30:25 -0500

If past events are a guide, bitcoin could in for a recovery rally, following the formation of a "long-legged doji" on the charts Thursday.

Crypto Market Recovers, But Could Bitcoin Price Fall to $4,800?

Joseph Young — Fri, 16 Nov 2018 05:40:47 -0500

After recording one of the worst sell-offs in all of 2018, the crypto market has experienced a minor corrective rally, adding $8 billion to its valuation. The Bitcoin (BTC) price is approaching a resistance level at $5,600, a minor resistance level BTC will have to surpass to potentially eye a rally to $5,800 and potentially

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WSJ: SEC Opened Probe into Erik Voorhees, Crypto Loans Firm Over 2017 $50 Mln Token Sale

Cointelegraph By Marie Huillet — Fri, 16 Nov 2018 05:17:00 -0500

Crypto loans company Salt, once associated with Erik Voorhees, is facing an SEC probe over its 2017 $50 million token sale

The Giant Bitcoin Rat Is Back And This Time It’s After Alan Greenspan

Alyssa Hertig — Fri, 16 Nov 2018 05:00:01 -0500

The artist behind a giant, inflatable, rat-shaped piece of protest art dedicated to bitcoin is at it again – this time at the DC Fed.

International Charity Oxfam Formally Launches Blockchain Rice Tracker in Cambodia

Cointelegraph By William Suberg — Fri, 16 Nov 2018 04:53:00 -0500

Aiming to improve conditions for producers, Oxfam has opted to “put rice on the blockchain” in Cambodia

Central Banks of Canada, Singapore and UK Propose CBDCs for Cross-Border Payments

Mark Emem — Fri, 16 Nov 2018 04:36:27 -0500

The reserve banks of Canada, Singapore and the United Kingdom have singled out central bank digital currencies as being one of the solutions that can be implemented in order to solve the challenges encountered when making cross-border payments. The report by the Monetary Authority of Singapore, Bank of England and Bank of Canada notes that

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ECB Official Calls Bitcoin ‘Evil Spawn of the Financial Crisis’

Nikhilesh De — Fri, 16 Nov 2018 04:06:10 -0500

ECB executive board member Benoît Cœuré has discussed potential uses for blockchain at central banks, but he's really not keen on bitcoin.

Guilty Plea Moves First US ICO Fraud Case to Final Stages, Sentencing Set for April

Cointelegraph By William Suberg — Fri, 16 Nov 2018 03:47:00 -0500

Up to 37 months in prison for ICO token fraud could await Maksim Zaslavskiy upon sentencing next April

Central Bank of Azerbaijan Rules Out Issuing Cryptocurrency

David Hundeyin — Fri, 16 Nov 2018 03:29:42 -0500

The Central Bank of Azerbaijan (CBA) has indicated that it does not intend to issue a state-backed cryptocurrency, also known as a central bank digital currency (CBDC). Speaking to reporters in Baku on November 15, CBA first Chairman Alim Guliyev stated that the Bank treats cryptocurrencies conservatively, based on a belief that the use of

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Crypto Exchange Huobi Dismisses 6 of Its 10 Employees in Brazil: Report

Francisco Memoria — Fri, 16 Nov 2018 02:08:40 -0500

Major cryptocurrency exchange Huobi has recently dismissed 60% of its workforce in Brazil, a country it entered a few months ago. While the motive behind the move is currently unclear, competition in the country could be the culprit. According to local news outlet Portal do Bitcoin, Huobi Brazil’s CEO Frank Tao confirmed over the phone

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Bitfinex’s Parent Company Has a New Offshore Services Provider

David Floyd — Fri, 16 Nov 2018 00:09:09 -0500

iFinex, the parent company of Bitfinex, has parted ways with its old offshore services provider for a new firm.

Has Crypto Exchange KuCoin Proven its Legitimacy by Raising $20 Million?

Joseph Young — Thu, 15 Nov 2018 21:49:11 -0500

Singapore-based KuCoin, a major crypto exchange with an active and loyal user base, has secured $20 million in a funding round led by $20 billion venture capital firm IDG. Michael Gan, the CEO of KuCoin, wrote, “Today, we are thrilled to announce that we have closed our Series A Round of Funding, raising $20 million

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Nvidia Q3 Results Reveal ‘Crypto Hangover’ Due to Disappearance of Miner Sales

Cointelegraph By Ana Alexandre — Thu, 15 Nov 2018 21:22:00 -0500

U.S.-based GPU manufacturer Nvidia released its Q3 earnings report today, revealing a “crypto hangover” from disappearing demand among crypto miners

OmiseGo Partners With Singapore Ride Hailing App to Trial Blockchain Solutions

Cointelegraph By Ana Berman — Thu, 15 Nov 2018 20:56:00 -0500

OmiseGo, a payment platform based on the Ethereum blockchain, will develop a Proof-of-Concept with Singaporean decentralized ride hailing app TADA

As Crypto Prices Tumble, Mike Novogratz Pounds the Table on Real Estate Tokenization

Samantha Chang — Thu, 15 Nov 2018 20:48:39 -0500

Bitcoin bull Mike Novogratz extolled the tokenization of real estate during this “crappy” crypto bear market, saying asset tokenization is an emerging trend. Novogratz, the founder of crypto investment bank Galaxy Digital Capital Management, said the cryptocurrency market is in a slump, but there are many exciting developments occurring below the surface. “While it feels like

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Brian Kelly: Bitcoin Price Decline Will be a Short-Term Event

Joseph Young — Thu, 15 Nov 2018 19:47:04 -0500

For the first time in three months, Bitcoin initiated its first major move. Unfortunately, for investors in the crypto market, BTC plunged by more than 11 percent, engaging in one of the most intense sell-offs in a 24-hour period in all of 2018. Bitcoin Price Tumbles On CNBC Fast Money, BKCM founder and CEO Brian … Continued

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Report: Application for Chinese Crypto Miner Canaan’s $400 Mln IPO Lapses

Cointelegraph By Ana Alexandre — Thu, 15 Nov 2018 19:47:00 -0500

The IPO application of crypto mining hardware manufacturer Canaan has expired amid questions from regulators about the firm’s business model

Crypto Exchange OKCoin Expands to Latin America & Opens Fiat Market

Francisco Memoria — Thu, 15 Nov 2018 18:53:13 -0500

Popular cryptocurrency exchange OKCoin has recently revealed, through a press release shared with CCN, that it expanded to the Latin American market, with a platform that’s set to let users trade top cryptocurrencies against local fiat currencies. According to the release, OKCoin’s expansion to Latin America comes after it became a fully licensed platform to

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Bitcoin Cash: ABC Network Suffered Spam Attack as Hard Fork Activated

P. H. Madore — Thu, 15 Nov 2018 17:57:55 -0500

Immediately after the Bitcoin Cash hard fork, the blocks on the Bitcoin ABC chain started filling up with nonsensically small transactions. At the time of writing shortly after the fork, three such blocks had been mined with a total of more than 50,000 transactions worth less than 0.5 BCH total. As seen in the video below, … Continued

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Hours After Bitcoin Cash Network Update Begins, Bitcoin ABC Over 10 Blocks Ahead

Cointelegraph By Ana Alexandre — Thu, 15 Nov 2018 17:52:00 -0500

Hours after the Bitcoin Cash upgrade started, the Bitcoin ABC camp is leading in terms of hash rate and blocks

What We Know About Bitcoin Cash’s Two Blockchains

Christine Kim — Thu, 15 Nov 2018 17:30:13 -0500

The bitcoin cash blockchain officially split today into two competing networks – but the story seems to be far from over.

What We Know About Bitcoin Cash’s Two Competing Blockchains

Christine Kim — Thu, 15 Nov 2018 17:30:13 -0500

The bitcoin cash blockchain officially split today into two competing networks – but the story seems to be far from over.

What We Know About Bitcoin Cash’s Two Rival Blockchains

Christine Kim — Thu, 15 Nov 2018 17:30:13 -0500

The bitcoin cash blockchain officially split today into two competing networks – but the story seems to be far from over.

Bitcoin Price Analysis: Yearly Support Breaks as Bitcoin Tests Underlying Demand

Bitcoin Schmitcoin — Thu, 15 Nov 2018 17:28:28 -0500

After months and months of consolidation, the yearly support finally broke and now bitcoin has found itself in the lower $5000s for the first time since 2017:

Figure 1: BTC-USD, Daily Candles, Broken Support

Bitcoin managed to drop a staggering 16% yesterday as the market sliced through the long held support like a knife through butter. The high volume and wide candle spread does not bode well for the bulls as we are currently witnessing an excess of supply in the market. We have blown through two levels of support and haven’t seen a significant retest just yet:

Figure 2: BTC-USD, Daily Candles, Support Levels (shown in blue)

Figure 2 shows the next levels of support below us, but it seems for now we are content to consolidate at the $5400 level. The $5400 is pretty interesting because that is when the market went from being parabolic to *super* parabolic as the market took off on what’s referred to as a “hypodermic trend.” It’s when the market experiences parabolic blow-off toward the end of its parabolic cycle and the market actually breaks north of its parabolic curve. Almost one year to the day, we have found ourselves positioned at the exact same price it was previously. It was this time last year that we saw the major leaps and bounds in price as the market accelerated upward, following a strong round of media coverage over the winter holiday season.

Something quite alarming for the bitcoin bulls is this massive descending triangle that broke downward yesterday:

Figure 3: BTC-USD, Daily Candles, Descending Triangle (shown in red)

Over the entirety of 2018, the market consolidated in a pattern called a “descending triangle.” Typically, if a triangle breaks downward, it will be seen as a trend continuation to most traders and they are likely to short the asset. In our case, the trend continuation would be a downward continuation. It’s unclear where the actual market will lead, but the blue levels outlined in Figure 2 and the 78% Fibonacci retracement shown above are likely to entice some of the more patient bulls that sat out most of 2018. It’s still very early to tell whether the market will see a strong continuation or if the market is just attempting to find its floor. We will know more with the weekly close.

Summary:

The yearly support finally broke down as bitcoin shoved down a staggering 16% in one day.
The move is still fresh, but the market is attempting to test support as the bulls decide whether they want to start a strong round of buying. One thing is clear though: Supply is very present.
The breakdown of the descending triangle shown in Figure 3 is a sell signal for traders, as it typically is a sign of a trend continuation. The breakout is still fresh, so we will need to check back on the market to gather further insight.

Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

This article originally appeared on Bitcoin Magazine.

Fork Wars: Bitcoin Cash Dev. Warns that CoinGeek Will Attack ABC

P. H. Madore — Thu, 15 Nov 2018 16:50:58 -0500

During a largely celebratory live stream regarding the ability of Bitcoin ABC’s upgraded version of Bitcoin Cash to survive and thrive in a post-fork universe, Bitcoin ABC’s self-proclaimed “benevolent dictator,” Amaury Séchet, said that he believes, due to metrics that are publicly available, that BCH mining pool CoinGeek is presently preparing an attack against the ABC … Continued

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Microsoft Releases Cloud-Based Azure Blockchain Development Kit

Cointelegraph By Ana Alexandre — Thu, 15 Nov 2018 16:29:00 -0500

Microsoft has introduced a serverless blockchain-powered development kit, focused on connecting interfaces, data integration and deploying smart contracts

Binance Warns Iranian Traders to Withdraw Crypto Amid Sanctions

Leigh Cuen — Thu, 15 Nov 2018 16:00:05 -0500

Binance is advising its remaining users in Iran to withdraw their money as the cryptocurrency exchange seeks to comply with international sanctions.

Bitcoin Market Cap Slides Below $100 Billion as BCH Fork Spooks Investors

Yashu Gola — Thu, 15 Nov 2018 15:53:01 -0500

It has been more than 24 hours since bitcoin scared investors with a sudden 10 percent drop. But there hasn’t been a concrete recovery action — yet. The bitcoin-to-dollar exchange rate has surged 2.21 percent from its previous low at 5291-fiat, now trading at 5408-fiat. The coin’s market cap has risen likewise but remains below

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‘First’ Collectible on Two Blockchains: ‘The Cutest Crypto Game’ Now Available on EOS

Cointelegraph By Maria Yavuz — Thu, 15 Nov 2018 15:48:00 -0500

“The first game which officially supports two blockchains simultaneously”: a decentralized crypto collectible game has announced that it is now available on EOS, which is supposed to make transactions faster #SPONSORED

Moscow Residents are Slowly Warming to Crypto Payments: Study

Gerelyn Terzo — Thu, 15 Nov 2018 15:09:59 -0500

In Moscow, green shoots of crypto adoption are starting to emerge. Indeed, of the Moscow locals who prefer non-cash payment methods such as mobile payments, 1% are using cryptocurrencies while 5% appear to be on the verge of doing so, according to Forbes, citing a study by Yandex.Money. The survey, which was also a product

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Bitcoin Cash: ABC Futures Cross $300 in Hard Fork Aftermath

Yashu Gola — Thu, 15 Nov 2018 14:25:41 -0500

With bitcoin cash mining its first forked block, the futures prices of SV and ABC are fluctuating wildly. The BCHSV futures price jumped 10.7 percent against the US dollar, rising from $88.12 to $97.51 within just an hour — before sinking below $90 after the fork. Meanwhile, the BCHABC futures price rate saw a 9 percent … Continued

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After Yesterday’s Bloodbath, Losses Continue for Major Cryptos, XRP Overtakes Ethereum

Cointelegraph By Helen Partz — Thu, 15 Nov 2018 13:53:00 -0500

Bloodbath continues with Bitcoin dipping below $5,400 earlier today, Ripple sees slight gains and overtakes Ethereum as number two coin by market cap

Breaking: Bitcoin Cash Hard Forks — BCH Hash War Begins

Josiah Wilmoth — Thu, 15 Nov 2018 13:16:06 -0500

Minutes ago, Bitcoin Cash activated a hard fork that splintered the fourth-largest cryptocurrency’s network into at least two competing versions, currently referred to by their primary software clients, Bitcoin ABC (BCHABC) and Bitcoin SV (BCHSV). The Bitcoin Cash network upgraded shortly after 18:00 UTC, when the BCHABC and BCHSV chains diverged at block 556767. Bitcoin.com

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Binance Will Support USDC Trading Starting November 17

Nick Marinoff — Thu, 15 Nov 2018 13:11:40 -0500

Binance — one of the most popular digital currency exchanges across the globe — has announced that it will be adding the fiat-collateralized stablecoin USD Coin (USDC) to its trading platform on November 17, 2018. USDC will be grouped into trading pairs with bitcoin and Binance’s own token, BNB.

The company made the announcement on its official blog, making particular note of the auditing process USDC undergoes to prove that each coin is backed 1:1 with the USD.

“For increased transparency, USDC has engaged a top-ranking auditing firm to release monthly balance attestations of the corresponding USDC and USD balances held/issued,” the post reads.

With this support, USDC will become the third stablecoin to see a listing from Binance, the first two being Tether (USDT) and TrueUSD (TUSD), respectively.

Buzz surrounding stablecoins has grown exponentially this year. Typically tied to fiat currencies such as USD or the euro, stable currencies are designed to lessen the effects of volatility often witnessed in standard crypto assets like bitcoin and ether.

Binance is the world’s largest digital currency exchange, boasting a daily trading volume of roughly $500 million. That’s about $460 million more than Coinbase, which was among the first cryptocurrency trading platforms to show support for USD Coin last month. The coin is a product of Coinbase’s and Circle Internet Ltd.’s joint efforts, and it was developed as a part of the Centre blockchain framework.

Prior, USDC began trading on the Circle-owned Poloniex exchange in September of 2018.

In a recent interview with TheStreet, CEO and founder of Binance Changpeng Zhao discussed his company’s success and said he’s aiming to be much more than just an exchange.

“We are building an ecosystem,” he comments. “We want to be the infrastructure services provider for the blockchain space, so we have several different initiatives. Most of them are still quite small, including the exchange. I think if you compare us to traditional [market] exchanges, we are still quite small … but right now, our ecosystem is made up of the exchange, a wallet, labs, charity, info, an academy and more. We hope some of them will become the infrastructure for the industry.”

This article originally appeared on Bitcoin Magazine.

Bitcoin Cash’s Blockchain Hard Fork Just Went Live

Christine Kim — Thu, 15 Nov 2018 13:05:54 -0500

A contentious hard fork on the bitcoin cash blockchain has been activated.

Bitcoin Cash Just Officially Split Into Two Competing Blockchains

Christine Kim — Thu, 15 Nov 2018 13:05:54 -0500

A contentious hard fork on the bitcoin cash blockchain has been activated.

Bitcoin Cash Just Split Into Two Blockchains

Christine Kim — Thu, 15 Nov 2018 13:05:54 -0500

A contentious hard fork on the bitcoin cash blockchain has been activated.

European Central Bank Exec Calls Bitcoin the ‘Evil Spawn of the Financial Crisis'

Cointelegraph By Marie Huillet — Thu, 15 Nov 2018 12:47:00 -0500

An Executive Board member of the European Central Bank considers Bitcoin to be the “evil spawn of the [2008] financial crisis”

Russia: Sberbank CEO Says Industrial Scale Blockchain Adoption Is 1-2 Years Away

Cointelegraph By Ana Berman — Thu, 15 Nov 2018 12:08:00 -0500

Herman Gref, head of major Russian bank Sberbank, says blockchain will be implemented on an industrial scale in one or two years

This Bitcoin Skeptic Wants to Make ‘Stable’ Cryptos for Venezuela

Leigh Cuen — Thu, 15 Nov 2018 12:00:41 -0500

Economist Steve Hanke has joined the board of advisors for the P2P cryptocurrency exchange AirTM and will guide its Latin American expansion, including a new system for price-stable assets he will design.

Bitcoin Cash Hard Fork: How Did We Get Here?

P. H. Madore — Thu, 15 Nov 2018 11:59:55 -0500

As the actual hard fork of Bitcoin Cash approaches and users face the prospect of two versions of Bitcoin Cash, it’s important to remember what led Bitcoin Cash to this situation. As such, here is an albeit incomplete recap. The Block Size Debate Beginning around the middle of 2015, Bitcoin blocks started becoming full, and … Continued

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