Analyst: bitcoin is set for another heavy fall

CEO of the site to private investors ADVFN and author of Forbes Clem chambers (Clem Chambers) expects a further fall of bitcoin prices this summer. He believes that this follows from the historical scheme of the first cryptocurrency, and the signal sent Althingi.

The price of bitcoin and all altcoins are largely linked, recalled chambers. So, if you have a strong signal from alcaino you always know what’s going on “behind the scenes” of bitcoin, he said.

The analyst drew attention to this signal as the amount of remuneration for miners altcoins. For example, a powerful Nvidia 1080Ti he explained that if a few weeks ago, it was producing $3.5 for altcoins, now only $1.5 and this is the worst value since last year.

“Bitcoin is on the verge of another hard fall, so I expect this summer to reduce prices to a level where it reaches a low point,” concluded chambers.

According to him, from a historical point of view, bitcoin is repeating one of its “many failures”, which could be observed in 2011, 2013 or 2014. He noted, charts BTC these years, you can just copy and paste for future forecasting.

Left — 2014 schedule, detergents — 2018. Just keep going…

“Of course, copy-paste is not destiny. But with the collapsed rewards for mining it looks bearish. But while the daily news headlines do not proclaim the death of bitcoin, the bottom has not been reached. And remember, this is not the end of bitcoin, it’s just beginning, so take a look at all the price axis of the previous chart and remember about infinity,” concluded Clem chambers.

Recall that the well-known analyst and trader at Weiss Tone (Tone Vays) at the beginning of the month said that the price of bitcoin will drop in July below $5000. While Tom Lee (Tom Lee) Fundstrat Global Advisors continues to insist on its forecast of a sharp growth of quotations of the BTC operation in mid-summer.


The number of short positions on bitcoin is extremely increased

Thursday, December 6, the number of short positions on bitcoin on the popular Hong Kong exchange Bitfinex has updated a six-week high, reaching 37 891, reports CoinDesk.

The last time the figure reached such high values on 15 October at around 36 996. Note that in the last three weeks the number of shorts increased by 95%.

At the same time, the number of short positions did not fall below 35 per thousand even if the price of bitcoin tried to get out of the zone of deep, strong, showing growth from $3,500 to a level near $4400.

At the moment, says analyst Omkar Godbole, the ratio of long and short positions indicates the overwhelming dominance of the bears.

In his opinion, given the situation, the price of bitcoin may soon test the level of $3474. However, Godbole added if the number of shorts will update the historical maximum (40 289), the sellers force can dwindle.

As of 16:50 UTC, bitcoin is trading around $3650, and a fall in the last day was a little more than 4%.

Bitstamp Data

We will remind, in November of 2018 bitcoin price has shown the worst dynamics for the last seven years.


In DigRate assessed the prospects of the blockchain-project United Traders

Rating Agency assessment of digital assets DigRate conducted an analysis of the blockchain-project United Traders and has assigned a A2 rating. According to experts, the concept and tools that offer developers needed for the further development of the cryptocurrency market, so the project seems to be potentially successful.

The project developers plan to establish a new trading ecosystem on the blockchain, using its long accumulated experience in the field of prop trading. It plans to introduce three products: an investment marketplace UT, cryptocurrency exchange Traders United Exchange (UTEX) and megalover. It is expected that this will help to solve several issues relevant to the industry: the presence of barriers in the valuation of venture investments, as well as distrust of experts, providing suggestions on investments.

January 2018 planned introduction of payment services, trading in tokens UTT compliant ERC20. First payment services on the platform, then the payment of commissions for trading, and after the launch of UTEX ⎼ and exchange Commission. The project is produced 100 million tokens.

The developers claim that they pay great attention to the legal part and want to provide the opportunity to participate in the bidding banks. DigRate experts believe that within the current legislative framework the participation of banks in cryptocurrency trading is not possible.

The project presents a clear development strategy and a financial plan. A large part of the ecosystems of the United Traders was already established and her work is up and running, so the road map is well detailed.

In the White Paper elaborated the question of the legal aspects and legal status of the token UTT. The developers have prescribed the rights of buyers and owners of the tokens, as well as the risks associated with the acquisition of UTT.

At the same time, experts note that the legal aspect of the project has significant flaws. At the start of the ICO project team has not provided public access to legal documents of the legal entity, as well as full package of legal documents (SAFT, terms and Conditions).

One of the strengths of United Traders is that project developers are already formed team, which has been operating since 2009. 64 experts from various fields: marketing, software development, Finance and sales. However, despite his professional achievements, one can argue that the team has considerable experience in the implementation of blockchain projects.

Finally, the developers claim that the project has attracted a number of large investment funds. Due to the nature of activities of the company United Traders, this is not doubt. However, information on this issue is not found, noted in DigRate.

The full version of the report DigRate can be found here.


The creators of RBC launch a Fund to invest in blockchain

Venture capital firm TMT Investments, founded by the creators of RBC German Kaplun and Artyom Inyutin, together with our American partners is launching a Fund that will invest in the blockchain.

From TMT Investments partner Fund, in addition to the creators of RBC also acts as a serial entrepreneur Igor Shoifot (Igor Shoifot), by the American blockchain-investors – Julian Zegelman (Julian Zegelman). In addition, discussions are ongoing about bringing in a team of stars blockchain-industry and technology from the United States and Asia.

The Fund will be formed as of the cryptocurrency, and Fiat, and the volume of investment will amount to $ 60 million. Of which $15 million is planned to collect digital currency through ICO which will be held in March 2018 and the remaining $45 million in Fiat currency. Technology partner of the initial placement of tokens will be the Russian blockchain-platform Waves.

In the official press release notes that TMT Crypto Fund will operate in accordance with the requirements of the European regulators and the us SEC. The attracted funds will be invested in blockchain projects in the United States, Eastern Europe and Asia.


Gram: cryptocurrency ecosystem Telegram

In the second round of the ICO closed the Telegram project was able to raise over $1.7 billion investment. At a given level of demand, the organizers may well abandon the public stage and to attract the necessary funds in a closed round of placement of tokens Gram. What services within the ecosystem will use Telegram Gram and how it will operate, the cryptocurrency’s most ambitious project in 2018.

About the ecosystem Telegram

According to the white paper, the idea of launching the project belongs to Nikolai and Pavel Durov, the purpose of which is to provide bulk to the holders of the cryptocurrency easy, scalable and fast platform to work with their assets. To do this, the project will be launched ecosystem Telegram that integrates with the messenger and consists of the blockchain, cryptocurrencies internal Gram, crypto-wallet and a list of available services.

The basis of the ecosystem is a multi-blockchain Telegram Open Network (TON), the architecture of which provides PoS (Proof-of-Stake) of the consensus algorithm, as well as mastercan and related blockchain networks. This approach avoids problems of scalability: blackany TON can automatically split up and come together to ease the load on the entire network. The lack of long queues of transactions into the block will contribute to the low fees. Moreover, any block of the blockchain may be an independent network, and a clever routing system ensure instant information exchange between all blockchains TON. This decision will allow the network to handle up to a million transactions per second.

In addition, the ecosystem Telegram users will have such services as:

 TON DNS — domain name system;

 TON Storage — decentralized file storage

 TON Services is a platform for third-party services, which provides an intuitive interface for decentralized applications and smart contracts.

 TON Payments — micropayments platform and a network of micropayment channels.

About cryptocurrency Gram

Internal cryptocurrency ecosystem Telegram was the token Gram. The overall weight is 5 Gram of billions of tokens. Platform users can use tokens Gram for payment or use any physical or digital assets provided by individual sellers in the ecosystem Telegram. Also Gram tokens can be used for:

Fees for the work TON gcd (validators) upon confirmation of the transactions and smart contracts.

In the form of steaks validators network TON, which will approve the transaction and create new units;

Transfer debt validators in exchange for a share of the Commission;

The right to vote to support, or, conversely, to speak out against the innovations in the Protocol of the network;

Payment services provided by the application platform (THANK Services).

Payment data storage (TON of Storage);

Payment domain name registration (DNS TON) and hosting TON (TON WWW);

Pay for the anonymity and shelter IP addresses (TON Proxy);

Payment for bypass the censorship of local Internet service providers (TON Proxy).

For the startup ecosystem Telegram in mid-February, project organizers held their first indoor round of licensee Gram, who brought the project $850 million. The investors were offered a «simple agreement for future tokens» (SAFT), in which the tokens themselves will be presented only after the launch of the blockchain TON, scheduled for the fourth quarter of 2018. Each agreement will be converted into tokens Gram in 1:1 ratio.

After starting TON the annual rate of inflation, provided the fundamental network parameters TON, will be 2%. This inflation will be secured by payments that make all members of the community in the form of a payment validators that support the performance of the network TON.

For developers provides 4% (200 million Gram) of all issued tokens with the period of use restrictions in 4 years. 52% of all tokens will freeze within TON Reserve to avoid speculative trading, and to maintain a certain level of flexibility in the early stages of the startup ecosystem. The remaining 44% of the tokens (2.2 billion Gram) will go on sale, and their price will be formed according to the following formula:

pn: = 0.1 × (1 + 10 − 9)n USD

Assuming that the first token was sold at a price of $0.1, each additional token will cost one billion more than the previous one. As a result, extra tokens listed from TON Reserve, there will always be more expensive than those that were already bought by the participants tocancel events. This structure makes it easy to determine the fair value of the trade tokens.

To work with the token to the platform users will be given a «light wallet» that will allow you to store cryptocurrency without having to download the whole blockchain TON. These wallets will be integrated into the ecosystem Telegram, which will allow holders to Gram to work with all applications and services. Also will include desktop and mobile versions of the lightweight wallet.

Why Gram may waive the public round

Given the popularity of the project and have already raised funds, many experts believe that the project may waive holding a public round of investment.

So, in the February report of the Commission on securities and exchange Commission (SEC), the organizers of licensee indicated that the project drew $850 million from 81 major investor. According to different sources, the minimum amount for participation in the presales were $10 million, and even before the fundraiser, the order book was full. In the second round, the report of which came in SEC on March 29, attracted another $850 million from 94 investors, after which the total investment in the project amounted to $1.7 billion.

The General partner of Morgan Creek Capital Blockchain Anthony Pompliano said:

«The goal of each event to raise funds to obtain sufficient funds to run the project or company. Obviously, Telegram this purpose has already achieved, it makes no sense to hold public round.»


Fear, hatred, and opportunities: as capturadora survive the current drop

For 2018 was not more losing weeks for the stock market than the previous one. Sunday, November 25, bitcoin exchange rate has updated its 12-month low, dropping to $3838, and losing a week over 26%. For bitcoin was followed by other coins: ether dropped to $115, losing their place in the market. The second capitalization of the coin was the ripple, which is trading at $0.37. And the total capitalization of caporino dropped by $57 billion. In the current situation, many market players started to panic, while others have found in it opportunities for earnings. DeCenter found out what they are doing during the current drop traders and large investors, and what is the forecast by leading analysts.

For the second consecutive week, the cryptocurrency market is in a state of collapse. November 19 presenter Cryptotrader on the CNBC Ran Neuner said extremely pessimistic mood among the players of the stock market:

Today for the first time since the beginning of this bear market I have seen people surrender, admit defeat, ridiculing the community and technology, and promising never to touch the cryptocurrency. Even the bravest has been silenced…

Proved him and other members of cryptodira, who lost an impressive investment over the last week. Thus, according to the news portal one of the English-speaking users of the anonymous web forum 4chan got rid of all my crypto investments and encouraged others to do likewise: «This is the end, I sold everything. And I’m free. I got out of that damn hell Scam… at First it was fun, but now it’s more like a cruel joke. I bought bitcoin at $15,000. Not one person can easily observe how his money evaporate right before his eyes. You all know that it goes to $3000, right?… Let’s stop pretending that the market is anything but bearish trend until 2020».

Mass selling of digital assets traders also had an impact on the long-term holders of bitcoin who invested in the first cryptocurrency in early 2017. This is evidenced by cryptocurrency trading firm Genesis. The head of the company Michael Moreau notes that the investors who bought the bitcoin at the beginning of last year for the first time began to sell their assets, approaching its base value when buying. So, investors who in the first quarter of 2017 bought a bitcoin for $900−$1300, saw its explosive growth, which at the peak of noted historical high of $19,783. However, the current situation on the market gives them hope that soon something will change a lot.

In an interview with the American Forbes cryptotriton and investor in the digital currency known as Aldon, Tero (Altcoin Thoreau), also noted that there is no indication that the bear market coming to an end: «the Price indicates that the trend was on the decline after 2017, when the cryptocurrency was at its peak. Despite the fact that the current state of the market largely differs from the parabolic pattern of bitcoin, which we saw in 2013, we can safely say that the trend reversal will take some time. Last bear market lasted more than 600 days, and the current, at the time of writing this article is only 344 at the bottom.»

This is evidenced by the well-known crypto-analyst and founder Willie Wu, according to which currently bottom of bitcoin is only beginning and the end the bear market will not come until the second quarter of 2019: «Recent data obtained from our blockchain and macro-market indicators, are still relevant. Changed the indicator NVTS, which broke its support, which is a signal to sell. All our blockchain indicators point to bearish trend. NVT, NVTS, MVRV, BNM, NVM. Of course, they are experimental, but they still gave very accurate predictions, even when the traditional stock indicators said otherwise. While some catalyst will not affect the change in trend, we will see a bear market until mid-2019».

According to Wu, until the end of the bearish trend of bitcoin either capitulate, or will trade sideways. As for altcoins, market players will be their pumpit. A large part profits from trading Althingi will be sent to the bitcoin, which by that time will reach its bottom and be ready to start an uptrend that will last until the next lower rewards per block in 2020.

At what level to wait for the bottom?

The head of the American Civic startups and well-known counselor in the crypto industry Winnie Lingam gives a conservative estimate for the stock market. Like many other players, the expert does not think that bitcoin will breach the level of $6000 before the end of 2018. According to the analysis of crypto-analyst Murad Makhmudov, bitcoin is in a long term descending triangle.

So, if current market trends continue, the first cryptocurrency strikes the bottom, having gone below $3000 before the end of 2018.

The lower limit at $3000 not beyond probability, provided that a pattern of descending triangle comes to end.

About the possible level of support for bitcoin at $3000 and says chief analyst social trading platform, eToro’s Mati Greenspan: «we can’t say for sure. Now bitcoin has broken the key psychological level of $5000, which means that the next logical support level which we will see in the graphs will be $3000. However, it is not necessary, and if now a reversal takes place, it will definitely be the signal for a bullish trend.»

Specialist in technical analysis from the company Cracked the Market Yani Sedins also sees the lower limit of the exchange rate of bitcoin at $3500, after which the market will begin to rehabilitate himself: «it is possible that a rebound will occur in the neighborhood of $3500 and return rate of up to $5,000. Of course, now it doesn’t sound like a big change, given the current fall in prices, but the return from $3,500 to $5,000 — almost a 50% return within a few days of work.»

Traditionally with follow bitcoin and other cryptocurrencies. So, last week the majority of cryptocurrencies, with the exception of tablconv, including the ether, bitcoin, cash, litecoin and ripple have lost from 10% to 40% of the last value.

It is noteworthy that the data kollebaniya not very concerned institutional investors. It says the head of Department on work with digital assets VanECK gábor Gurbax. In an interview with the American Forbes Gurbax said that large investors are not afraid of the exchange rate of bitcoin to $3000, however, as in $10,000. They are more interested in infrastructure and growth rates that make this sector highly attractive for investment: «Large financial institutions focus more on the proper structure of the market than on short-term price kolebaniyakh. How to calculate the cost of a digital asset? How to ensure safe storage? Will they available crypto-ETF with a correct structure of the market and how to protect their investments? For the most part, large financial institutions don’t care if bitcoin will finish 2019 at around $3000 or $10,000. I see that the structure of the market is improving every day and becomes more like a commodity market or stock market».

However, over the last two weeks dramatically increased the interest of large investors to bitcoin futures trading platforms, owned by CME and CBOE. Futures allow you to play against bitcoin profit from a falling market cryptocurrency. According to Bloomberg, Monday, November 19, total open positions in futures on bitcoin rose to 22,266 — it is a historical maximum.

The current drop is the time for new opportunities

It is obvious that not all market players see the current situation, only losses. As noted by Mati Greenspan, despite the current collapse, the market of digital assets are not lost its appeal for some investors:

It is definitely a demand!

Now the most interesting for investors have bitcoin and ripple. This is evidenced by eToro, which stipulate that clients trading platforms have increased their contributions to these coins.

Clients @etoro took advantage of the collapse in the price of bitcoin to replenish their stocks. The red circle marks a small but obvious increase in assets, since November 14.

Moreover, Greenspan believes that now the market goes alarmists and weak: «Many capturadora happy to continue hadlich, even at such a low price. I assume that also large financial institutions find the current prices very attractive for buying».

A similar opinion was shared by the founder of the Super Margin Armen Gevorgyan during a panel discussion at the international blockchain Crypto conference Event RIW. The entrepreneur believes that institutional investors now invest in digital assets, but do it gradually and in small portions.


Japan recorded growth of cryptocurrency suspicious transactions

Japanese bitcoin exchange announced on 5 944 suspicious cryptocurrency transactions in the period from January to October 2018 national police Agency (NSA), says JiJi Press.

It is noteworthy that the number of transactions exceeds the same indicators in the period from April to December 2017 by almost 800%.

Activities of bitcoin exchanges in Japan is regulated by the financial services Agency (FSA) and must meet the standards of AML/KYC.

However, according to the national police, cryptocurrency transactions make up only 1.7% of all suspicious transactions in the financial sector.

Earlier, the FSA has required the exchanges to delist anonymous cryptocurrency.


Binance added the option to simultaneously manage multiple accounts

Bitcoin exchange Binance added the function of sub-accounts, allowing VIP users to have multiple trading accounts in one.

Reportedly, users of so-called institutional accounts can create up to 200 sub-accounts in one.

So, the new service allows you to manage orders and assets of all accounts to reset two-factor authentication, and freeze the other accounts.

Representatives Binance also added that the transfer of assets between subaccounts will not be charged the fee.

To access the service only corporate and VIP users, the monthly trading volume which is 4 500 BTC.

Earlier Binance showed the interface of the future decentralized exchange.

Download the app ForkLog for Android smartphones!


Michael Arrington completely switched to cryptocurrency

Venture capitalist and TechCrunch founder Michael Arrington (Michael Arrington) stated that it is launching a $100 million hedge Fund Capital XRP Arrington, who will work actively on the cryptocurrency market.

Arrington wrote in his blog that he first bought bitcoin in July 2013, in the amount of $102,41 with a Commission of $1,17 — and was so fascinated by this topic, then launched a venture Fund, CrunchFund, and last year began to invest in ICO. Now he fully intends to go in this area:

A year ago I was just criptonita. Now I changed my career path to focus on cryptocurrencies and related technologies… This new Fund, I demonstrate the intention to devote my future career to cryptocurrencies.

New hedge Fund will invest in various crypto-currency assets, technology, and ICO, but for the calculations to apply the developed Ripple XRP cryptocurrency.

Some think it’s insanity and we stand on the edge of a huge crisis bursting of the crypto bubble… Others claim that cryptomemetic just beginning. I’m on their side.

Recall that the majority of financial executives in the world, according to the survey of 97 members of the CNBC Global CFO Council, do not trust bitcoin. And chief investment officer at Japan Post Bank , Katsunori Sago (Katsunori Sago) believes that the fair price of bitcoin is $100, and the current fascination with cryptocurrency is worse than the dot-com bubble in the late 1990s.


In Korea discussed the possibility of closing cryptocurrency exchanges

The head of the financial services Commission of the Republic of Korea (FSC) Choi Jong Ku (Choi Jong-ku) confirmed that the government is considering the closure of all cryptocurrency exchanges in the country.

“The government has started to discuss the possibility of closure of the cryptocurrency exchanges or closing only those who are involved in illegal activities,” — said the Chairman of the FSC at the meeting of the National Assembly.

He added that his Agency plans to take action against speculation in the cryptocurrency market. FSC will conduct a thorough check of banks to prevent speculative trading in assets on cryptomeria, said the head of the regulator.

Government officials have already announced a possible termination of work of crypto-currency exchanges in the country. At the end of December adopted emergency measures to regulate their work. However, the full regulatory framework for the cryptocurrency market in the country has not yet been established. Choi Jong Ku said that the interagency work in this direction is:

“We are seriously working on plans to curb the recent craze of cryptocurrency. We are in the stage of consultations between the ministries”.

Earlier, the Deputy head of the FSC Kim Yong-bum (Kim Yong-bum) called for international cooperation to deal with cryptocurrencies. And the head of the regulator said that the Agency deepens cooperation with colleagues from China and Japan in this field.

The actions of the authorities of Korea to tighten regulation of the cryptocurrency market in the country has met a negative response of the citizens of the country. A petition against this policy of regulators less than a month collected 215 thousand votes, and now the government during the month should be the official answer.