Technical analysis: bitcoin faces a «death cross» and drop to $2800

Traders using technical analysis of market conditions, finding more indicators indicating that the price of bitcoin may fall even more.

They indicate that the 50 day moving average bitcoin price approaching the 200-day moving average on the minimum distance for the previous 9 months. The intersection of these two schedules received from traders called “death cross”. It means a further fall in prices. Another indicator — moving average speed — has already become bearish.

“Over the past couple of months after the activity bubble in the end of 2017 was the final shift”, — says Paul day (Paul Day), technical analyst at Securities Market Dubai Ltd.

He came to the conclusion that the first cryptocurrency waiting for the price to fall by 76% in comparison with level of the end of February to $2800, if repeated downward trend of quotations of bitcoin 2013.

When the 50-day moving average price fluctuated below longer the first 10 months of 2015, quotes of bitcoin fell by 2.5%. After overcoming the resistance level of the price of the cryptocurrency rose to end the year at 43%. From that time it remained above that line and at the end of each year showed growth.

“To trade bitcoin and cryptocurrency is now used in the element chart and technical analysis, given that now the market of professional organization,” said Dyer Ferguson (Ferguson Daire) from the Irish company Avatrade Ltd.

Earlier, technical analysts pointed to the fact that the price of bitcoin “gone” below the uptrend line and decided that the next step for cryptocurrencies to be “dramatic”. And experts Goldman Sachs predicted that bitcoin price can go below $6000.

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Exchange Korbit stops Dash support, Monero, zcash for, Augur and Steem

South Korean cryptocurrency exchange Korbit announced the termination of the trade five cryptocurrency: Dash, Monero, zcash for, Augur and Steem.

According to the report Korbit, the delisting will be subject cryptocurrencies that are offered currently via the “Other digital assets” (Other Digital Assets).

“We say goodbye with “Other digital assets” by the gradual cessation of the functions of purchase and sale for the following coins: Dash (Dash), Monero (XMR), zcash for (ZEC), Augur (REP) and Steem (STEEM)”, — stated in the message of one of the largest kryptomere South Korea.

The function of purchasing five of these cryptocurrencies will be closed by the exchange on may 21, and the sale will remain possible until 28 June. The company specifically pointed to the possibility of re-listing some of these cryptocurrencies in the future:

“We strive to facilitate safe trade the most amount of cryptocurrency, but we have yet to determine a date for the resumption of transactions with the affected coins. Thus we advise you to protect their interests or selling, or getting rid of the mentioned cryptocurrency”.

After the delisting of five cryptocurrencies, Korbit will continue to support trade family names of coins: BTC, XRP, ETH, BCH, ETC, LTC and BTG.

The reasons for termination of support Dash, Monero, zcash for, Augur and Steem exchange in your message is not called. Earlier it became known that the regulator Japan is putting pressure on the crypto currency exchange of the country that they refused to support cryptocurrency for increased privacy, in — Dash, Monero and zcash for. However, the Korean regulator is not reported.

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The authorities of Cambodia have forbidden banks to participate in cryptocurrency transactions

In advance of the announced start of own national cryptocurrency project Entapay (Quantum Mechanical Phenomenon of Quantum Entanglement) of the government of Cambodia has banned financial institutions in the country to participate in cryptocurrency transactions and encouraged them to “respect the laws”.

Cambodian banks followed the ban and began to let customers to buy and sell cryptocurrencies using open their account. At the same time, the authorities believe that behind Entapay multifunction digital currency payment system will allow citizens to do without the services of VISA international payment system and easy to manage multiterabyte currencies.

According to local media, criptococosis of the country bewildered by this contradiction, because of the laws governing kriptonyte in Cambodia does not yet exist.

We will remind, the head of the International monetary Fund (IMF) in October said that the Central banks and regulators must begin to take seriously the cryptocurrency. She urged Central banks to be wiser with cryptocurrencies, since their adapted countries with unstable monetary systems or weak national institutions as a good alternative to paper money.

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KICKICO turned KickCoins in tokens KICK

The project KICKICO, who recently completed ICO with nearly $23.6 million investment, updated issued the token and goes to stock trading with tokens instead of KICK KickCoins. In addition, there have been changes in the smart contract and “all existing accounts in the ICO system”:

This 2.0 update should fix all the problems. It will close the questions about the charges issue and all the calculations that will be made with tokens.

The draft declares that “rushing forward” and will soon present a new ICO and service “Community Choice”, which will give each participant the opportunity to platform to take part in the fate exhibited on it projects.

Recall that KIKICO is the first open blockchain-a platform for ICO, crowd-funding and crowd-investing. According to the developers, it helps to solve such problems of conventional services, such as bureaucracy, high fees and constraints of the participants because of their location. The platform is open beta, and the listing contains more than 300 drafts.

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Waves Platform and the CRIC will engage in joint promotion of blockchain technology

Blockchain platform Waves Platform and system integrator CROC has signed a partnership agreement. The companies will cooperate in introducing and promoting products based on blockchain technology.

The cooperation of the CRIC and the Waves Platform starts with a pilot project to create a digital infrastructure for custodians, clearing houses, investment banks and other financial institutions.

The system, developed by the partners, will allow the professional participants of financial market to conduct assessment, recording and storage of cryptocurrency clients ‘ assets (in the initial phase — Waves, Bitcoin and Ethereum), and to confirm possession by the official statements in the formats accepted in the industry (535 MT and ISO 20022).

It is expected that this decision will help to simplify cryptocurrency transactions and ultimately, making them more manageable and attractive to large investors.

«We are confident that the partnership with CRIC will not only promote block chain technologies in Russia, but will accelerate the development of products aimed at a broad audience and mass market», — said Alexander Ivanov, CEO and founder of Waves Platform.

Another area of cooperation might be the implementation of joint projects on creation of a trusting environment among participants in distributed state or corporate processes.

In CRIC practice blockchain has been developing for two years. Currently, the team of specialists focuses on developing solutions based on all major platforms present on the Russian market — Waves, Bitfury Exonum, HyperLedger Fabric, Ethereum.

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Hardwork in Ethereum postponed for a week to continue testing

Planned hardwork Byzantium — the first part of Metropolis updates now happen on the block 437 000 000 approximately on October 17, reports CoinDesk. Previously its launch was planned for 9 October.

The delay came after, as the founder of Ethereum Vitalik Buterin in development discussion recommended that the platform was conservative relative to previous forks. The offer was made to push miners to the successful adoption of hard forks, and also to the level of difficulty becomes too high, and the blocks could still get in the month of October.

Developed by Hudson Jameson (Jameson Hudson) said that now date hard forks of the final if everything will be okay during the test period.

The test network Ropsten first part of Metropolis was officially launched on Tuesday. To date, all working as expected. Even after the fork has passed the first test of private transactions.

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The appeal against the results winnik France was postponed for 2 weeks

Following today’s session of the Supreme court of Greece, it was decided to defer consideration of appeal from the trial court’s decision on extradition of Alexander winnik in France on 5 November.

According to reports from the courtroom, protection of the Russians – in the person of lawyer Zoe Konstantopoulou – today expressed numerous protests to the Chairman of the Areopagus. In response, the judge interrupted the lawyer, tried to take her words and rejected requirements.

So, at the initiative of the speaker of the Parliament from among the judges brought three judges out of eight, because in 2017 they, including the President of the court had taken the decision to extradite winnik in USA. In addition, the lawyer said the fear that an impartial decision, the court will not accept:

“Winnick was neither in USA nor in France. You have made a decision about his extradition to the U.S., dismissing a very serious legal arguments that are still relevant in today’s business.

The arguments of the French side for the extradition of Alexander winnick are the same as in the US, what gives us the fear that will not be an objective approach and consideration of this request because three members of the court previously made a decision on the extradition to the U.S. and created a precedent,” said Konstantopoulou.

However, after satisfying this requirement, counsel asked again to change the composition of the court and remove a judge, which “listed a number of violations of disciplinary character”. This time the court refused to form a new structure and returned to the old composition. The Chairman directly said winnick that the court has nothing against him, its “very serious matter” and “such amount of transfer (consideration) of things not (yet) happened.”

This treatment caused on the part of counsel for the prosecution of a judge in violation of the rights of a defendant and the requirement to introduce a tape recording of the meeting: according to the speaker of the Parliament, the judge has no right to appeal to the winnick bypassing the lawyer. Then the lawyer referred to the prohibition of the Collegium of advocates to work after a 15 hour day and demanded to announce a break following the hearing, the judge appointed on 5 November.

Recall that today’s meeting was also held after transfer for 5 days, because, according to the assurances of the speaker of the Parliament, winnik was carrying a few between the prisons in Thessaloniki and Athens and didn’t give him enough time to review the documents of the French side, some of which had not been translated into Russian language.

However, the lawyer Timothy Musatov said earlier that against his client in Greece is begun criminal trial. According to him, winnick learned about it from two local investigators of the financial police, who arrived him in prison to announce the interrogation.

The extradition of the Russian demand three countries. France accuses winnik in hacking e-mail of thousands of people and extorting from them money, the us accuses him of money laundering and fraud with the cryptocurrency at more than $4 billion, and in Russia – fraud in the amount of 667 thousand rubles ($11,500). This assumes that closed by the US authorities cryptocurrency exchange BTC-e and Alexander winnick could be related to interference in the U.S. presidential election in 2016 by cryptocurrency officers of the Russian GRU.

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Technical analysis: bitcoin price was lower uptrend

The reduction in the price of bitcoin this week paints a rather discouraging picture for the near future, consider technical market analysts.

On Monday, the first cryptocurrency failed, trying to break the level of $12 thousand, they resemble. Then followed a drop of more than 20%, provoked a series of negative news.

Source: https://coinmarketcap.com/

So bitcoin is soon repeated his highs, he must first exceed $11,500, and $14300, says Frank Cappelleri (Frank Cappelleri), Executive Director, Nomura Instinet.

“For the first time in a long period bitcoin has taken the position below the peak of the uptrend. The last time it tested this support line, required a large influx of cryptocurrency. If this does not happen again in the near future, the February lows will be in the crosshairs” — said Cappellari.

Source: StockCharts.com, Nomura Instinet

On Friday, the bitcoin fell to a low of $8513. According to CoinVarketCap, its lowest level since February 13.

On Wednesday, the SEC issued a statement that expanded control over the cryptocurrency exchanges and companies to store scriptaction. Binance Hong Kong stock exchange announced the same day that some accounts may have been compromised due to phishing.

“Right now bitcoin stuck in a range from $7400 to $11,900. I don’t want to buy the dips — I want to buy it on growth. In other words, at the moment, if we do not stand above $11900, it is not at all impressive,” said Jay Parets (J. C. Parets), the President and founder of All Star Charts.

For the volatile cryptocurrency, which is fundamentally different from traditional financial assets, the only specific analysis may be that the next step will be dramatic.

“Bitcoin is closer to the top of the tapering as a pennant pattern. This configuration gives choices of which direction the asset will go — it involves a significant move forward,” — said Chris Kimble (Chris Kimble), the founder and CEO of Kimble Charting Solutions.

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The St. Petersburg city court overturned the ban on access to 40 sites-the exchange of cryptocurrency

The St. Petersburg city court overturned the decision in may, at the request of prosecutors the decision of October district court about restricting user access to 40 sites where you can sell and buy bitcoins.

Site owners filed an appeal, as the court of first instance considered that to spread information about bitcoin in the Russian Federation is prohibited, and “the actual presence of crypto-currencies outside the legal framework does not provide the possibility of implementing legal mechanisms to ensure fulfillment of obligations by the parties to the transaction”.

Now it is redirected to a new consideration by other structure of court.

We will remind that the Ministry of Finance of Russia has no plans to increase the financial literacy of the population in relation to cryptocurrencies. According to Deputy Finance Minister Sergei Storchak, there is no need. At the same time, the Central Bank of the Russian Federation spoke against allowing the exchange of cryptocurrency in the country as it carries huge risks for the population and business.

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Morning courses cryptocurrency — uncertainty and a little fear

The ongoing uncertainty regarding the fate of the cryptocurrency exchanges in China will the Chinese government ban or just impose additional regulation — dictated the mood on the cryptocurrency market last night. Virtually all major crypto-currencies have lost in value from 5 to 10%. Bitcoin (BTC) varies between $3800-4000, finding $3800 support. Other currencies mostly follow the same trends.

At that time, as a number of analysts attribute such a correction not only with the news from China, but also with the statements of the head of JPMorgan, most of us agree that we should not exaggerate the impact on the market Jamie Daimon, which for many years has consistently opposed cryptocurrency.

It should also be noted that in the United States Monday there is a revival in the stock markets caused by the lack of North Korean news and lower than expectations of consequences of hurricane “Irma”. The major indexes have been rising steadily since the beginning of the week. Attention and resources are also distracting traders Apple shares in connection with the presentation of new products, the volume of trading they rose this week, almost twice as much as usual, and the growth of turnover of trading AAPL two days on 12 and 13 September, almost three times higher than the daily turnover of the market of cryptocurrencies.

The General mood in the market can be estimated as the uncertainty with a share of fear. If this mood will last until the weekend, it is not excluded the possibility of a repetition of the attack on the market a week ago, when he was first falling rate on the rumors about a complete ban on exchanges in China. Will it be enough to calm the market of today’s article in Renmin Ribao — we will see.

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