Bitcoin broke below $4500, continuing the recovery of recent weeks. According to CoinMarketCap, it happened about 16-40 Moscow time.
We will remind, on September 2, the cost of bitcoin reached almost $5 thousand, but then came the collapse of the entire cryptocurrency market caused by the news of the ban ICO in China. After September 15, when the price of BTC for a short time was even lower $3 thousand, the trend is reversed in the direction of recovery. Not opened it even the ban on initial placement of the coins entered South Korea.
The cost of bitcoin for the day grew by 4.44% (at the time of this writing). From cryptocurrency with the highest market capitalization greater daily growth showed only a Ripple — 9.08%.
Earlier, an independent analyst and founder of Research Pointpoint Ronnie Moas (Ronnie Moas), suggested that by the end of 2020, the price of bitcoin will reach 15-20 thousand dollars.
Bahrain will explore the possibility of carrying out experiment with a wider introduction of cryptocurrencies and “regulatory sandboxing”, said the Executive Director of the economic development Board of Bahrain Khalid al-Rumaihi (Khalid Al Rumaihi).
According to him, the Central Bank of Bahrain has created rules for “regulatory sandboxing”, which was filed by four companies. Two of them have already received the approval of the financial regulator.
“I hate to be a regulator. Because we need to protect customers and users. And there are concerns about the investment and laundering of illegal funds. In “regulatory sandbox” we can afford a little experimentation.
“Regulatory sandbox” will resemble the same structure in Singapore and the UK. It’s not just talk. We have already launched it. You can see on the website that the application process for the participation to it is transparent. We are open to business,” said Khalid al Rumaihi innovation forum at MIT.
In addition, Rumaihi reported that “openly looking to the side batocina”, and to open a bitcoin exchange in Bahrain is already planning a foreign bitcoin exchange. He stressed that the Ministry of Finance is positively considering the introduction of digital currencies and put forward a proposal to release cryptocurrency of the bond.
Recall that a “test sandbox” with cryptocurrencies is also preparing Malta.
Vertex Ventures has invested in the largest cryptocurrency exchange in the world Binance with the aim of establishing its new branch in Singapore.
Vertex Ventures is the venture capital division of investment company Temasek Holdings, controlled by the Singapore government. The total assets controlled by the state holding company, is $223 billion Investment portfolio, Vertex Ventures, established in 2015, is about $2.5 billion.
According to the statement, in Binance invested together two branches venture company, Vertex Ventures and Vertex Ventures China Southeast Asia & India. The amount of funding is not called.
The investment is aimed at the discovery of crypto-Fiat trading platform Binance in Singapore and distribution services throughout Southeast Asia. About the plans to open exchange in Singapore CEO Binance Zhao Chanpen (Changpeng Zhao) said in September.
Recall that in the same month, Zhao Chanpen announced plans to open trading platforms Binance on all five inhabited continents. In October started cryptocurrency exchange companies in Africa — Uganda Binance.
Poloniex and HitBTC stated that the reason for this decision was the holding of internal audits after receiving reports of a vulnerability in the system of smart contracts batchOverflow. Operations tokens ERC-20 will be restricted until the end of the test.
We’ve temporarily suspended the ERC-20 token deposits and withdrawals while we review all smart contracts for exposure to the reported bug batchOverflow. We take any reports of vulnerabilities very seriously to ensure that customer funds remain safe. Thank you for your patience!
— Poloniex Exchange (@Poloniex) April 25, 2018
Due to a potential issue detected in ERC20 smart contracts, we initiated an internal inspection. All deposits and transfers on ERC20 tokens will be getting online in accordance with the results of the inspection. Please refer to the System Health page for online status.
— HitBTC (@hitbtc) April 25, 2018
Recall that earlier this month, the exchange OKEx vulnerability batchOverflow was attacked by hackers who were able to bring 8 tokens vigintillion BeautyChain.
At the moment experts of the company Peckshield announced that in addition to OKex was threatened more than ten users of smart contracts ERC-20 with the identified vulnerability batchOverflow.
Also recall that a month ago the analysts of the Dutch FINTECH company VI Companyfound in a smart contract cryptocurrency exchanges Coinbase vulnerability, which gave users the ability to manipulate the balance, remitting to him an unlimited number of tokens, Ethereum.
The us Commission on commodity futures trading (CFTC) in response to “numerous requests for clarification” allowed its employees to invest in crypto-currencies for personal purposes on the condition that they will not buy them on margin or use insider information obtained in the workplace. However, to invest in bitcoin futures, the Commission staff is prohibited.
Eric Richardson (Erica Richardson), the representative of the head of the CFTC George. Christopher Giancarlo (J. Christopher Giancarlo), said that he was among those who requested to clarify in the internal politics on this issue to avoid conflict of interest.
In the explanatory Memorandum, the head of the legal Department of the CFTC Daniel Davis (Daniel Davis) stated that, since the Commission considers the cryptocurrency a product, employees can trade them as commodities. They must scrupulously avoid any action that might create the appearance of violation of laws or ethical standards set by the authorities and the Commission.
We will remind, the head of the CFTC believes that the hype surrounding bitcoin is far superior to its size and impact on the global economy. For those who want to better understand the topic, the Commission in December last year launched a web resource dedicated to informing the public about cryptocurrency. Thus in General, the CFTC and SEC a month ago expressed its intention to strengthen the supervision of cryptomnesia.
In the traditional Sunday review remember new annual lows bitcoin events around Ethereum, positive news from Europe and other key events this week.
Is the bottom or not?
On Saturday, December 15, weighted average rate of the first cryptocurrency, continuing a prolonged fall, for the first time this year fell below $3200, while the market capitalization of bitcoin approached $55 billion On some exchanges, for example, on Bitstamp, at the same time, the price dropped to $3120.
Since then, bitcoin has recovered somewhat (+2.41 per cent in the last 24 hours as at 17:00 UTC), however, the resistance level of $3,300 remains an insurmountable barrier. In total for the first week, the cryptocurrency fell by almost 9%, in anticipation of the Christmas and new year hardly gives optimism to investors.
With bitcoin has traditionally continued a drawdown of the rest of the market, the total capitalization of which at some point Saturday hardly has not dropped below the psychological mark of $100 billion. However, this level indicator in the end never went away and at the moment is about $104 billion, losing a week $13 billion.
In the first ten cryptocurrencies continue to lose ground and the Bitcoin Cash Bitcoin SV, dropping to 8th and 9th place in terms of capitalization, respectively. BCH while this week has fallen to the absolute minimum for 16 and a half months of its existence — $75 (-25% in seven days).
Amongst the most liquid cryptocurrency greatest losses for the week suffered Stellar (-20,69%), NEM (-17,73%), Monero (-16,31%), zcash for (-14,74%) and Dash (-14,15%). And this deep bearish backdrop stands apart Waves, which is due to launch of smart assets and smart accounts on the main networks has increased over the last week in price by more than 50% for a short time even rose into the Top 20 CoinMarketCap.
Meanwhile, the head of Digital Currency Group [DCG] Barry Silbert was forced to admit that the continuing decline in the market adversely affected the number of deals attracting venture capital. At least six of the planned agreements, he said, was eventually terminated.
However, a well-known bitcoin optimist and co-founder of Fundstrat Global Advisors Tom Lee is convinced that a fair price is the first cryptocurrency is in the range of $13 800 — 14 800. His judgment, particularly based on the growing number of active addresses BTC wallets, the factors of demand and different rates of use of the first cryptocurrencies. However, new predictions, he refused.
The CFTC wants to know more about Ethereum
The Commission on urgent exchange trade of the USA (CFTC) have expressed a desire to learn more about Ethereum and its underlying technology. Published on Tuesday, December 11, a request to retrieve relevant information, the regulator explains that it wants to receive public comments on various issues regarding Ethereum, including markets that have been created on it.
The Department expects that these answers will help him to get a better idea about how it should be regulated Ethereum-market, and the associated cryptocurrency markets derivatives. The document contains 25 questions divided into categories such as purpose, Ethereum, underlying technology, markets, supervision, as well as cyber security and custody decisions.
Opera introduced browser for Android with support for Ethereum
This week at the conference Hard Fork Decentralized in London, the company Opera Software announced the public release of the browser for Android devices with built-in Ethereum-wallet.
New mobile browser supports the ETH, but also tokens of the standards ERC-20 ERC-721, as well as decentralized applications (Dapps), access to which can be obtained directly from the wallet. The developers also claim that the new product will be Web 3.0 — the concept of development of Internet technologies, which was formulated by Netscape head Jason Calacanis in continuation of the Web 2.0 concept Tim O’reilly.
«Until now, the use of the cryptocurrency and access to Web 3.0 require special applications or extensions, making it harder to even attempt all this to test. Our new browser fixes this interference,» he wrote in the company blog, product Manager for the Mozilla Crypto Charles Hamill.
Access blockchain Ethereum is a new mobile browser will be available through infrastructure platform Infura.
Closing a project Basis
On Thursday, the company Intangible Labs, which is behind the project to create a «stable» coin Basis, announced the closure of the project. According to CEO Nader al-Naji, the decision was made because of the rules of the securities and exchange Commission (SEC), according to which tokens of the project would be classified as securities.
Previously attracted funding in the amount of $133 million will be returned to the investors. The latter included such well-known names like Google Ventures, Andreessen Horowitz, Bain Capital, Digital Currency Group, MetaStable Capital, Pantera Capital and Polychain Capital.
Al-Naji advice to other entrepreneurs who are considering launching a stable of coins, and to withdraw from doing business in the US, not to accept money from American investors, and to ensure that the tokens had a certain consumer functionality.
Bitwala supported solarisBank launched a banking service with the support of bitcoin and the Euro
German blockchain startup Bitwala launched an updated crypto service predlagaemyi users to a single Bank account with support of bitcoin and Fiat. The solution is designed in partnership with Berlin-based FINTECH company solarisBank, which has a banking license and is regulated by the Federal financial Supervisory authority of Germany (BaFin) and the European Central Bank.
Each user account Bitwala tied to a debit card and a built-in wallet allows you to easily exchange bitcoins for euros. Like any Bank account in Germany, the service from Bitwala offers warranty insurance on the Deposit amount up to €100 000.
At the initial stage, the accounts are open to residents of Germany, in the future, the company plans to enter the markets of other countries.
Also this week it became known that solarisBank will assist the Stuttgart stock exchange with the launch of a platform for cryptocurrency trading. It is expected to start work next year.
13 Dec cryptocurrency exchange Kuna.io presented a new logo, updated website and expanded functionality. The users of such new ways of replenishment and withdrawal of currency, as Advanced Cash and Kuna Code that will allow you to transfer assets between users of the exchange and outside the exchange space.
Updated and interface exchange: total balance in BTC and USD. It can be seen for each asset separately. In addition, the support team is switched to clock mode. Kuna also launched a mobile application.
Representatives of the platform said that the change of logo and identity is designed to help it enter the markets of Georgia, Belarus, Russia, Turkey, Kazakhstan and Armenia.
Revolut received a European banking license
Friendly to bitcoin and other cryptocurrencies, British FINTECH-startup Revolut received a license for providing banking services in Europe. Relevant application has been approved by the European Central Bank.
Initially customers Revolut in the jurisdictions in which the company operates, will be able to make deposits up to 100,000 euros are insured via the European Deposit insurance system. In the future, the company plans to implement measures to protect against exceeding the overdraft, as well as providing traditional individual and corporate loans.
Founded in 2015, the startup has attracted to date, nearly $340 million investment that raised the company’s capitalization to $1.7 billion In 2017 Revolut added support for the cryptocurrency. Initially it was bitcoin, Litecoin, and Ethereum, and in may of this year the app has been added Ripple and Bitcoin Cash.
RIP Timothy may
For the red and green candles, many of us easily forget about what happens in real life, and she solanio, often brings sad news.
So, this week it became known about the death of Timothy James may, one of the founding fathers of the movement Shirobokov, which had been based on the eponymous e-mail and the author of the famous «Manifesto of cryptoanalyst» partly became a source of inspiration for the creators of the early prototypes of bitcoin.
In mid-October will launch an international platform for trading cryptocurrencies Cryptolocator.
Unlike most trading platforms, focused on Bitcoin, Cryptolocator gives priority to and sets the ETH Ethereum as a bitcoin default.
The first traders Cryptolocator promises a significant reduction in commissions within six months after launch. For active users will also be a bounty program on Bitcoin Talk.
Traders choosing to exchange the Fiat money for cryptocurrency. Cryptolocator allows users to determine the most appropriate payment methods and price correlation, whether Bank transfer, electronic money or cash.
Through the use of a P2P approach, users are able to set the terms of the transaction. Both the buyer and the seller are protected through measures such as the escrow service of funds at the time of the transaction, the system user reputation, two-factor authentication and encryption of all data. Also, the platform promises to provide live technical support in case of any problems and issues.
The future development of the platform will include the development and launch of mobile apps, expanding the list of supported cryptocurrencies and the addition of new trading functions.
The Ministry of education and employment of Malta signed an agreement with the company Startchunch Machine Technology about the launch of a pilot project of the national accounting system, data on education based on blockchain technology.
Maltese students and employees will have the opportunity to securely store all your data on continuous education. Employers and others will be able to instantly verify the authenticity of the data provided, saving time and money, according to a press release.
“The first time that Maltese students will have a way to keep track of your life achievements in one place and free to share them with whomever they choose. Maltese companies will find that much easier to hire workers with the right qualifications. This is a shared success for Malta, whose skilled workforce is one of the main factors of its economic success,” said Minister of education and employment, Evariste Bartolo (Evarist Bartolo).
The system will be built using standard Blockcerts developed Machine Learning Technologies, and the MIT Media Lab in 2016. It allows users to obtain, verify, store and publish their academic credentials on the blockchain via a digital wallet that also gives you a key that provides secure access.
Earlier, the government of Malta has established a working group to develop a “road map” of the blockchain implementation of the National strategy. Later it was decided to test the possible impact of cryptocurrencies on the economy.
Goldman Sachs analysts predict that the bitcoin price can drop below $6000. This is stated in a research note sent to clients.
Sunday 11 March, the bitcoin fell below $9210, eventually reaching a level of $8400. At Goldman Sachs believe that this decline may be a sign of the approaching new sales of bitcoin, during which its price may fall before the February low at $5922.
«This fall [below $9210] is significant, since it implies the potential for a more impulsive decline,» – said Jafari.
The next important level at which to monitor is $7687-7198.
The opinion of the team of technical analysts, led by Sheboy Jafari (Jafari Sheba), the market decline began with the mass sale of bitcoins by the head of the Board of Trustees of the infamous crypto currency exchange MtGox Nobuaki Kobayashi (Nobuaki Kobayashi).
Starting in Dec 2017, Kobayashi has organized several rounds of a massive sale of bitcoins to pay off the creditors of MtGox.
The last significant drop in the exchange rate of bitcoin was recorded on 6 February. Then the price of bitcoin has dropped to $5922. It is noteworthy that it happened on the next day after Kobayashi has sold 18 thousand BTC.
«To stabilize, bitcoin need to get back to the level of $9322, recorded on February 26,» – said Jafari. However, this has not happened yet.
Meanwhile, in social networks spread opinion that Kobayashi may suspend the sale of bitcoins until the next hearing in the case of MtGox, which is scheduled for September 18, 2018. Others Express doubts about this, since Kobayashi is already authorized to sell bitcoins MtGox. Currently, analysts and traders closely follow this issue because it is important from the point of view of influence on the price of bitcoin.
Today, Kobayashi is already sold 35841 34008 BTC and BCH. Still have to sell about 166 thousand bitcoins.
At the time of writing the news the average rate of bitcoin, according to CoinMarketCap, $9140,58.
The founder of Qiwi, and the head of the Association of financial technologies Sergey Solonin invested in ICO blockchain-platform Telegram Open Network (TON). He stated, speaking at a session on digital business at the Sochi investment forum.
«I’m interested in the theme of a new type of blockchain, I’m interested in the subject, which deals with decisions of a number of issues on the blockchain that have not been solved so far. My way to deal with such companies and with such topics is a personal investment. Then I focus more and understand more what is happening,» said Solonin.
We can talk about investments totaling about $17 million Then the application Corned beef is one of the largest volume of satisfied Russian proposals. The representative of the businessman, though confirmed information about his involvement in ICO, but the exact amount of investment has not been disclosed.
Answering the question of whether to consider an investment in Telegram investments in a Russian company or a withdrawal of funds abroad, Solonin said that the company could be Russian, but has created all the conditions against it:
«Unfortunately, the Telegram could be a Russian company, I believe if I had not created certain conditions which did not allow her to be Russian. It’s very sad. I would personally really like to Telegram was a Russian company».
Recall that Telegram has finished accepting applications for participation in the pre-ICO that they develop a blockchain platform TON another 20 days of January. Pre-sale Telegram plans to raise $850 million, according to the member of the syndicate of investors, requests received for amount four times as much – $3.8 billion
Involvement in ICO Telegram are interested in many of the largest venture capital firms, however, there are many specialized cryptocurrency funds, who deliberately refuse this opportunity, considering that the excessive demand for this ICO only shows that the sector is overheated, and the project team are unlikely to be able to fulfill their promises.
It is worth noting that the founder and head of Telegram , Pavel Durov still not officially confirmed the information about holding krautsalat project TON. However, the network has already appeared crooks who offer to purchase more defunct cryptocurrency Telegram.