New Innovations In Bitcoin Mining Malware

Bitcoin mining malware is a big problem. By hijacking the blockchain to illicitly mine Bitcoin, hackers are able to carry out a number of exploits on the blockchain that can in turn damage assets held by investors all over the world. Annoyingly, as the security of the blockchain develops and as we create more innovative ways of protecting the blockchain, hackers also get more clever, as does the malware they produce.
According to new research, it seems that the latest fad in malicious crypto mining comes in the form of legitimate windows installation packages, making the malware hard to detect for both the user, and their machines antivirus software.
According to The Next Web:
“Researchers say the malicious software, more commonly known as Coinminer, was specifically designed to fly under the radar. What makes the attack particularly difficult to detect is that it uses a series of obfuscation methods. The discovery comes from security firm Trend Micro, which has since documented the attack vector at more length.”
My masking as a legitimate windows installation file, users of windows machines won’t question the legitimacy of what seems to be a new update, or a windows download. Because of this, the chances of the malware being installed are increased, just as the chances of antivirus software has of detecting the malware decreases. Overall, it’s a hackers perfect recipe.
According to The Next Web, the report by Trend Micro states:
“The malware arrives on the victim’s machine as a Windows Installer MSI file, which is notable because Windows Installer is a legitimate application used to install software. Using a real Windows component makes it look less suspicious and potentially allows it to bypass certain security filters.”
Now of course, there’s a little more to this. Once the file has been installed, hackers have realised that visible parts of the file still need to appear as useful windows files, in order for the malware to remain on the machine in order to extract hashing power and mine Bitcoin maliciously. According to The Next Web:
“The hackers’ trickery doesn’t stop there though. The researchers note that, once installed, the malware directory contains various files acting as decoy. Among other things, the installer comes with a script that counteracts any anti-malware processes running on your machine, as well as the actual cryptocurrency mining module.”
And, most concerningly, according to the Trend Micro report:
“To make detection and analysis even more difficult, the malware also comes with a self-destruct mechanism. It deletes every file under its installation directory and removes any trace of installation in the system.”
How can I protect myself from this?
Illicit Bitcoin and cryptocurrency mining is a problem, one that has a very negative impact on the industry and interferes with many aspects of the industry, including coin circulation and of course, value. In order to protect yourself, you simply just need to be careful when you are online. Never download content from untrusted sources and always ensure you have an up to date antivirus software running.
Think twice before downloading anything off the internet, ensure that all websites you are using are secure and practice good safety measures when browsing the web. It’s not hard to protect yourself, so long as you are careful.

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Bitcoin (BTC): The Significance Of “10” And “2018”, Rise Of The Phoenix

Bitcoin (BTC) began a new cycle on its birthday. If you look at the BTC/USD 4H chart above, you can see for yourself how Bitcoin (BTC) completed its correction on 31st October, 2018 and began a new cycle. This is not the first time Bitcoin (BTC) has completed a correction in this manner. In 2014, Bitcoin (BTC) completed its correction cycle the same way, by first breaking above the triangle and then correction above it. We will analyze that in detail by comparing the two charts later in this analysis. Let us first understand the significance of two numbers, “10” and “2018”. Was it a coincidence that Bitcoin (BTC) just completed its correction on 31/10/2018? To answer that question, we will first have to see where the numbers “10” and “2018” actually came from.

Source: Economist; 01/9/88, Vol. 306, pp 9–10
In September 1988, the Economist featured a cover photo on its magazine with the title, “Get ready for a world currency”. The article in the magazine on this subject had the title, “One world, one money”. You can read the full article here. The cover photo features a phoenix rising from burning dollar bills. The phoenix is wearing a coin shaped pendant with the numbers “10” and “2018” on it. This was in 1988, way before the financial crisis of 2008. On October 31, 2008 Bitcoin (BTC) was officially born. Coming back to the numbers, “10” and “2018”, let us examine what they could mean. “2018” clearly means the year “2018” so no doubts there. “10” could generally mean the month of October but when put together with 2018, it could also mean the “10th Birthday” of Bitcoin (BTC) which falls on 31/10/2018. So, what really is the significance of all this?
Those who follow history, politics and economics for long know how closely related all three are on a macro scale. There is so much more besides the charts that an average person may not be able to figure out. However, if you look at the charts in the context of history, politics and economics, everything lines up. Throughout history, most of these events have been pre planned by a small but powerful minority. However, with Bitcoin (BTC) things are different. It is supposed to be decentralized. So, when Satoshi Nakamoto wrote the whitepaper, he/she/they sent it to certain private mailboxes. With something like Bitcoin (BTC) messaging/signaling has to be done in this way because apparently there is no organized way for controlling certain events on a macro scale.

Considering that we are on the brink of an unprecedented financial crisis, it is only reasonable to assume that the article published in the Economist in 1988 with the numbers “10” and “2018” is trying to make a point that this might be the time we actually see “one world, one money” come to fruition. The signaling through the words “10” and “2018” is of immense significance. If we get an ETF or institutional adoption through Baakt by the end of the year, it would explain why 2018 was supposed to be an important year. Before we conclude this discussion, I’d like to draw your attention to the above BTC/USD daily chart for 2015. You can clearly see how the price did the exact same thing it is doing now. It pierced through the downtrend resistance and left the triangle, then corrected above it before beginning a new cycle. I’ll leave it to you to closely compare the charts in this analysis to see for yourself how closely they resemble one another.

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Is Bitcoin (BTC) Bullish Or Bearish?

So, a lot of investors and analysts seem to think that BTC/USD is bearish or more blood is about to come. Most of them keep saying, Bitcoin (BTC) won’t go above $20,000 before 2019 or that the price may drop to $4,000 before going up but they rarely explain the rationale behind such statements. The bulls often substantiate their claims with evidence but the bears rarely do this. This is because most bears at this point are trading on sentiment, just like most bulls at the top were trading on sentiment. That being said, there are some bears that make a very good point. At least they have a reason for being bearish and are not trading on sentiment.
One popular bearish view is that the price has to break below the 21 Month EMA towards the end of December just like it did in 2015. They contend that price completes 13 months of correction before dropping below the 21 Month EMA. By that analysis, the price should continue to consolidate till December and then drop below the 21 Month EMA to enter another correction till late 2019. They also expect the price to drop around 86% same as it did in 2015. Both of these cycles would last a period of 22 bars or 669 days in total. According to this scenario, Bitcoin (BTC) should complete its correction around late 2019. After that, a period of gradual ascend will begin for Bitcoin (BTC) that will last another two years. In short, Bitcoin (BTC) may remain below $30,000 before 2022.

The bearish view relies on the assumption that the rate of rise or decline of BTC/USD will remain the same during each cycle. In my opinion, that assumption is flawed. Just as we cannot expect the price to rise with the same pace considering the finite amount of money available to put into the cryptocurrency market, similarly we cannot expect the price to drop in such large percentages when the market cap is that high. We have seen the same in the case of large cap markets like the stock market where gains of a few percent are very significant, whereas in the crypto market a few percent gains are inconsequential.
This means that we believe the rate of rise or fall will keep on declining with the passage of time. Thus, some cycles of the past will also be completed over shorter time spans. For instance, the rectangles highlighting parts of the Bollinger Band %B indicator on the above chart shows how similar the two fractals are but the latter has taken half the duration of the former to complete. The first rectangle encompassing the part of the chart between November 2013 and May 2015 has a duration of 80 bars or 560 days whereas the second rectangle encompassing the period between January 2018 and November 2018 lasts a duration of 40 bars or 280 days in total. By this analysis, we can say that the correction has also taken half the duration of the previous correction and is therefore complete and the market is ready to begin a new cycle.

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Are Bitcoin Exchanges ‘Immature’?

An old-school technology company which was founded ten years before the Bitcoin white paper was released it now looking to help today’s cryptocurrency trading platforms mature.
Based in the capital of Sweden, Cinnober mainly provides tech solutions to traditional stock and commodity exchanges around the world. However, this year it has seen a few deals with crypto startup. The most recent one is the Bitstamp exchange which announced this week that it will be the first in the space to use the vendors TRADExpress platform, alongside the likes of the London Metal Exchange.
It’s likely that this won’t be the last crypto exchange to do so. Cinnober says that it’s looking for other potential partners in the market and sees about twelve that would be perfect fits.
The leader of Cinnobers cryptocurrency and blockchain division, Eric Wall stated in a recent interview that:
“The most suitable ones are those who are looking to participate in the transformation that the industry is going through. We can serve retail-only focused cryptocurrency exchanges, but the ideal customer for us is the one that is looking to cater more heavily to institutional investors.”
Getting institutional traders as clients will be a vital part for cryptocurrency exchanges to carry on. Wall thinks that this will require significant adjustments saying:
“Cryptocurrency exchanges currently are extremely immature from the traditional financial markets perspective. Many of them lack basic knowledge of how to operate robust and reliable financial markets.”
Especially looking at attracting more investors, crypto exchanges should provide the same functionality as traditional stock and commodity exchanges do. As Wall says, adding in trade compression, netting and clearing mean that cryptocurrencies can be traded like a typical financial asset.
With crypto exchanges, they are typically operated on a pre-funded basis, only allowing users to trade as much as they have on their accounts, while traditional financial exchanges use cleared trades when customers maintain collateral deposited with a clearinghouse.
Wall continued to say:
“Right now the cryptocurrency exchange market is very inefficient as there are no clearing technologies and clearing houses in place. We can help a cryptocurrency exchange become a real exchange that has a clearing module, so trading is more efficient for institutional investors.”
What are your thoughts? Let us know what you think down below in the comments!

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Multinational Bank Sees Positive Future For BTC

The multinational investment bank and financial services company, Morgan Stanley has published their latest report which was released on 31st October. The report contains an overview of the evolution of Bitcoin and how its investment purpose has changed throughout the years but the report has a bullish sentiment to it in comparison the outlook for 2017. Also in the report is a few drawbacks of the crypto including a lack of regulations and energy.
To start with, the banking giant has recently begun to offer trading derivatives that are tied to Bitcoin. The company started offering Bitcoin swap trading tied to future contracts. Earlier in the year, James Gorman (CEO) said that a trading desk specialising in derivatives tied to virtual assets could be a potential service offered to clients.
As said by Crypto Ticker, Morgan Stanley was reported comparing Bitcoin to Nasdaq to clients, even though it moves almost fifteen times quicker. The bank also predicted that in the future, financial markets would start to increase their adoption for crypto over the years saying:
“Over the coming years, we think that the market focus could turn increasingly toward cross trades between cryptocurrencies/tokens, which would transact via distributed ledgers only and not via the banking system.”
Trend of stablecoins
The stablecoin trend began in the late months of last year with multiple giants in the industry launching stablecoins of their own experiencing a burst during the summer. Stablecoins are digital currencies which the whole purpose is to minimise the minimise the volatility of price fluctuation and they are usually backed by either fiat currencies like, gold, commodities and the US dollar or other digital assets.
In the report, it also mentioned how the introduction of stablecoins in the crypto market resulted in Bitcoin trading volumes taking a proportional hit despite Bitcoin making up over 50 percent of total market valuation. Experts believe that this added the subsequent fall in prices that resulted in the current bear market.
The highlight
The highlight of the report is when it calls crypto’s “rapidly morphing thesis”. Tracing Bitcoin’s evolution from different roles of virtual cash, a new fundraising mechanism, a method for the store of value to its current form of a new institutional investment class
What are your thoughts? Where do you see Bitcoin going in the future? Let us know what you think down below in the comments!

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Here’s How We Expect Bitcoin Adoption Should Impact Market Growth


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When we think of Bitcoin adoption, we tend to focus on the price rally that will no doubt come with it. When people in the mainstream start using Bitcoin to buy normal products, the price of Bitcoin will fly as more people start to buy and spend it. Of course, one drawback of adoption is that eventually, this rally will come to an end and many believe that once Bitcoin does hit the mainstream, it’s price will finally become more stable, otherwise, why would anyone bother using it to make everyday purchases?
Bitcoin adoption will impact society, it will impact investors and it will impact all of the cryptocurrency markets. I must point out that we’re not saying that Bitcoin is the only cryptocurrency that will get adopted here, however, what we are saying is that Bitcoin is most likely to see mass adoption first. It’s a notorious cryptocurrency and it’s one that will easily fit into our everyday lives.
Research by Transparency Market Research predicts that as a direct result of Bitcoin adoption, the overall value of ‘cryptocurrency’ as a market will reach $6.7 Billion by 2025, up from a value of $574.3 Million as recorded in 2017. Simply put, the research finds that as more people use Bitcoin, the value of cryptocurrency, on the whole, will increase. Now, remember, this isn’t referring to the value of the currencies or their market capitalisation, this is the value of the cryptocurrency market, as a standalone market of its own.
According to a press release by FinancialBuzz.com:
“The market growth is attributable to bitcoin’s widespread adoption. Bitcoin has had a meteoric rise because it is becoming increasingly popular as a method for payment solution transactions. While bitcoin is the main and more commonly known cryptocurrency, there are other ones such as Ethereum and Ripple. Coins like Ethereum are being leveraged in the financial industry for smart contracts, while other coins may simply just be used as a form of a decentralized currency. The multi-faceted uses of cryptocurrency have introduced many new applications and will introduce even more, especially for the global financial industry. Netcoins Holdings Inc, Starbucks Corporation, HSBC Holdings plc, Nasdaq, Inc, Sony Corporation.”
Bitcoin adoption is already happening
We talk about Bitcoin adoption as a product of the future, however, Bitcoin adoption is happening now. The aforementioned companies are all now exploring Bitcoin and blockchain technology and a number of real life, brick and mortar stores now accept Bitcoin payments too. Across the globe, major UK cities are seeing the rollout of Bitcoin ATMs. All in all, Bitcoin adoption is not going to occur at a set point in time, rather it is going to be a long process that sees a lot of developments on the way.
Evidence for this adoption
We want to explore the companies mentioned earlier to provide some evidence with regards to just how Bitcoin adoption is starting to take hold. We are seeing major companies exploring this technology and we know that once big brands back Bitcoin, customers will follow. Bitcoin adoption works from the top down. Get the executives on board and it surely won’t be long before the customers follow on. Consumers like to be told what’s good at the end of the day.
Netcoins Holdings inc
Netcoins Holdings inc trades on the Canadian Securities Exchange and operates across 150,000+ retail locations in Canada. With this in mind, we can only imagine the sheer reach and scale of this company. Recently, Netcoins entered a partnership with a voucher company that now allows Bitcoin and other cryptocurrencies to be exchanged for vouchers that can be spent in all 150,000+ retail locations. This is literally the essence of Bitcoin adoption. According to FinancialBuzz.com, the CEO of Netcoins, Mark Binns has said:
“This expansion increases our reach by 7x, and helps us make purchasing crypto easier and more accessible for the everyday consumer. The team at Netcoins is always executing, and we are excited that effective today these 150,000+ locations can start selling vouchers that can be redeemed for crypto via Netcoins. Our retail network is an integral part of our offering, and we are thrilled to be providing a global retail crypto solution. The Company is in the business of developing software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor through brokerage services. Netcoins enables crypto transactions via 171,000+ retail locations globally and an Over-The-Counter (OTC) trading desk.”
Starbucks
This is just one example of Bitcoin adoption within a large company just in Canada. Now, let’s think about much bigger groups such as Starbucks and how their intervention in Bitcoin could have an impact on a global scale.
According to FinancialBuzz.com:
“Starbucks Corporation since 1971, has been committed to ethically sourcing and roasting high-quality arabica coffee. Intercontinental Exchange recently announced that it plans to form a new company, Bakkt, working with Starbucks, BCG and Microsoft, which intends to leverage Microsoft cloud solutions to create an open and regulated, global ecosystem for digital assets. The new company will create an integrated platform that enables consumers and institutions to buy, sell, store and spend digital assets on a seamless global network.”
Furthermore, Maria Smith, the Vice President for Partnerships & Payments has said:
“As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks. As a leader in Mobile Pay to our more than 15 million Starbucks Rewards members, Starbucks is committed to innovation for expanding payment options for our customers.”
Now, let’s just consider just how many people use Starbucks. It’s huge. Does this mean that Starbucks will one day start accepting Bitcoin payments? Probably not, but this is a big step in the right direction for Bitcoin adoption.
Sony
Another huge group mentioned within this press release – Sony, the international entertainment company behind Xperia and PlayStation. Sony have recently announced that they are establishing their own form of blockchain technology, built from the architecture first established by Bitcoin and the mind(s) behind it.
According to FinancialBuzz.com:
“Sony Global Education recently announced the development of a rights management system for digital content that utilizes blockchain technology. This new system is based on Sony and Sony Global Education’s previously developed system for authenticating, sharing, and rights management of educational data, and additionally features functionality for processing rights-related information. Sony Global Education is continuously carrying out technological development and prototyping towards the use of blockchain technology in the educational field. This newly developed system can be utilized to manage educational materials and other forms of content used in the field of education, and Sony Global Education is considering its possible commercialization as a service.”
Now, this isn’t the direct adoption of Bitcoin, but even so, the adoption of the technology first designed by Bitcoin, by a group as huge as Sony will only do great things for Bitcoin and of course, the rest of the cryptocurrencies.
Bitcoin adoption is here
Bitcoin adoption is here, it’s happening and we hope that these few small examples help you to understand that. The adoption of Bitcoin is a big deal, one that promises to boost the value of the cryptocurrency markets and one that promises to not only make crypto cool but to also change the way we all spend money on our everyday purchases.

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Bitcoin (BTC) Seems Primed For A Christmas Surprise

Bitcoin (BTC) has practically done nothing for the past few weeks. Recently, Vinny Lingham, the founder of Civic made a $20,000 bet that the price of Bitcoin (TBC) would not rise above $28,000 before 2020. This is a really bold statement coming from a Bitcoin (BTC) maximalist. The number of people who are still optimistic regarding a long term rise in the value of BTC/USD still remains very high. However, the fact remains that after every market cycle, the rate of growth reduces. The price cannot climb as aggressively as it has in the past. However, to think that Bitcoin (BTC) may not be able to climb above $28,000 in all of 2019 is equally hard to believe.
Even if we consider that Bitcoin (BTC)’s rate of growth has reduced by half, it would still make it very possible for the price to reach somewhere above $50,000 by the end of 2019. Perhaps Vinny Lingham does not seem to believe that cryptocurrency market cycles also go through halvening. If we consider this to be the end of the correction, then it would be absolutely clear that market cycles have halved. So, if the previous cycle was 4 years long, then this cycle would take 2 years i.e. 2018 to 2020. Even if one does not believe that the correction is over yet, it is still very irresponsible to be making a bet that Bitcoin (BTC) cannot reach $28,000 before 2020. The only way that could happen is if Bitcoin (BTC) were to enter another correction.

Apparently, a lot of investors and analysts still believe that Bitcoin (BTC) could follow a 2014 styled correction. Put simply, this means that the current correction will be followed by another correction, one that would see it break market structure. If we consider that Bitcoin (BTC) market cycles have halved, then we would be assuming that the extended correction has already taken place. However, if we were to assume that a 2014 styled scenario is to unfold without taking into account the effect of halving market cycles, then one would assume that the correction could last another year i.e. throughout 2019. In that case, the price would have to fall well below the $5,800 support. Apparently, most people with this view also think that the stock market is about to take a deep dive and all emerging markets are going to fall with it.
While it is true that emerging markets are going to be hit badly if the stock market is to nosedive today, but the fact remains that the stock market is not ready for that yet. To think that the cryptocurrency market is going to underperform just because the stock market is overbought is a very dangerous assumption. There are still very optimistic predictions in the market that have not been retracted yet. Tim Draper and Tom Lee have both made very bullish predictions and both of them enjoy good reputation when it comes to predictions. However, recently, Arthur Hayes of Bitmex retracted his $50,000 prediction for BTC/USD and now Vinny Lingham has come out saying Bitcoin (BTC) may not rise above $28,000 before 2020. The price may take its time to recover, but we believe that Bitcoin (BTC) is primed for a Christmas surprise this year.

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Bitcoin Is Making People Crazy

The office for the Manhattan District Attorney has just uncovered some violent footage of a group of young males who have been charged with one count of second-degree burglary for torturing their friend who happens to be an investor in cryptocurrency.
The young men, starting torturing their so-called friend in order to get his login details for his crypto wallet.
The security footage which was discovered showed 29-year-old Steven Dron, 25-year-old, Chris David and Stephen Orso and 19-year-old David Leica who had escorted their friend Nicholas Truglia to his luxury apartment on 7th September this year and tortured his to get access to his personal crypto details.
The court papers stated that the son of a wealthy venture capitalist, Orso tortured Truglia in order to “provide him with login information for his cryptocurrency accounts while holding his head underwater in the bathtub, punching him in the stomach and throwing hot wax on him.”
The culprits are known to show off their luxurious lives on social media and they were seen leaving the victims home after being there for two hours with Leica concealing a rectangular object under his jumpers consistent with a laptop computer.
It’s unknown whether or not the criminals gained access to Truglia’s account but either way, they are on temporary bail until March next year when their fate will be decided.
This isn’t the first time violence has been used in the cryptocurrency space. The murder of a 24-year-old Norwegian crypto investor also left the industry in shock. The murder was committed by a notorious criminal following Heikki Bjorklund concluding a massive Bitcoin to cash transaction and intended to use the profits to relocate to his own apartment when the killer Makaveli Linden crashed through the window and stabbed him several times, searched through his belongings and disappeared with the proceeds. Linden has been on the run since the incident but has now been apprehended and is currently facing a trial in the Norwegian high court.
We’ve heard of scams and hacks, but torture and murder? This is a new one. We’re all friends and enthusiasts of Bitcoin here perhaps violence isn’t the way forward if you want to make profits out of cryptocurrency.
Our thoughts are with the friend’s families affected by these crimes.
What are your thoughts? Let us know what you think down below in the comments!
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Germany Starting To Adopt Bitcoin

Two states in Germany, Saxony and Hesse recently conducted a survey to over a thousand people to find out their opinion on Bitcoin.
The findings in the survey might not surprise anyone as younger people were quite open to the idea of cryptocurrency and Bitcoin. Around 28% of people aged from 18-29 said that purchasing them is a conceivable idea.
The risks are still there
Despite the survey not targeting a specific group of people such as people who are into technology which would have left the results to bias towards to crypto.
Respondents overall rightly found crypto investing to be a risky venture and people who were aged from 30-39 believes cryptocurrency dangerous more than half of the time.
The head of marketing at Lisk, Thomas Schouten said in the survey:
“[The] survey shows a growing interest in crypto, with more than a quarter of young Germans saying they are willing to invest in cryptocurrency. This positive sentiment is evidence that global leaders and innovators of the future are aware of the potential the space has to offer. It is not surprising that a demographic whose lives have been characterised by smartphones, internet, and social media, see the attractive functionality cryptocurrency provides as an instant and decentralised means of transferring value.”
He continues to say:
“Again, however, the survey highlights continued ambiguity in public perception of cryptocurrency and the utility of blockchain technology. Older demographics continue to perceive crypto investment as too “risky”, with just over 50 percent of people aged 30 to 39 averse to any investment. Meanwhile, profitability is still a driving incentive for young people looking to become involved in cryptocurrency, as cited by about a quarter of those interested in investing. I think it’s clear we, as a community, need to work harder to educate people of the massive potential blockchain technology offers – cryptocurrency in itself is only the tip of the iceberg!”
The results of this survey show us similar results to a survey conducted three years ago but on a global scale, in which it was found that the majority of Bitcoin enthusiasts were young and had been involved in cryptos for less than two years.
As said by CCN, during this time, this was understood to illustrate the space to be a growing entity and now we can conclude from later findings that more mature groups of people still don’t fully understand the concept of cryptocurrency and therefore wish to stay well away from it.
What are your thoughts? Let us know what you think down below in the comments!

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Bitcoin (BTC) Likely To Retrace Short Term, Big Picture Remains Intact

Bitcoin (BTC) is expected to retrace after a prolonged rally since the beginning of this month. The 4H chart for BTC/USD shows that the price has entered a rising wedge. We can see that the price has already faced rejection three times at the top of the wedge and is now preparing for a fall. RSI has also entered overbought levels short term and is thus expected to correct in the near future. This should not come as alarming news for investors expecting a reversal. The big picture is still very much intact and Bitcoin (BTC) is starting to begin a new cycle. However, we believe that we may see some downside before sustained long term upside.
The price of Bitcoin (BTC) has climbed atop the 21 EMA after a long time and it is very unlikely that it may fall below it anytime soon. However, there is still plenty of room for the price to fall short term. Volume is starting to rise and interest is returning back to the market. Long term investors are looking for favorable entry points, but the past few days have shown us that interest in altcoins is higher than in Bitcoin (BTC). Considering that a Bitcoin (BTC) ETF may not get approved anytime soon, it is likely that altcoins will keep on outperforming Bitcoin (BTC). Institutional investors and family offices that have been accumulating Bitcoin (BTC) have been doing so outside of exchanges. So, that is not going to affect the price of Bitcoin (BTC) on exchanges.

The major factor influencing the price of BTC/USD on exchanges is retail money. Considering that most altcoins have a lot of room to grow against Bitcoin (BTC), it is likely that the altcoin market will see more growth compared to Bitcoin (BTC) for the next few months. Most altcoins will rise against Bitcoin (BTC) but that does not mean that Bitcoin (BTC) will stay where it is. The price of Bitcoin (BTC) is unlikely to reach its all time high this year, but it may still continue to cross the $10,000 mark if not higher. That being said, 2019 is going to be the ideal month for Bitcoin (BTC) in terms of gain. Major institutional accumulation is nearly complete but Bitcoin (BTC) may still not see big spikes considering the interest is currently in the altcoin market.
As we have seen before, when the altcoin markets get topped out, that is where most people cash out in Bitcoin (BTC). As a result, we see a major rise in the price of Bitcoin (BTC) while altcoins bleed. Previously, all of these developments took place in a period of four years. However, this time that period is expected to last only two years. That means that we may see both the altcoin rally as well as the altcoin correction during 2019. Bitcoin (BTC) is not going to rise with the same pace that it did in 2015 or earlier but the next rise is still going to make this correction seem like a minor price fluctuation.

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What Could Trigger The Next Bitcoin Boom?

In recent weeks, the crypto markets have been tame, to say the least. Aside from XRP experiencing a 17% increase over the past few days, the total market cap has been stable and has moved within the $200 to $220 billion regions since the end of September this year.
Not everyone is happy with this though. Those who invested in cryptocurrencies before the crash back in January are going to be praying on their knees for the highly anticipated rally as it is the only way they are going to be able to recoup their investments and maybe even make a profit out of their digital holdings. At this point in time, the market needs something to push it in the right direction to get the ball rolling and that thing could be the US Securities and Exchange Commission.
Will the SEC approve the BTC ETF?
Crypto experts have been predicting that a crypto market rally is inevitable and just is going to happen at some point. More than likely at the turn of the year but who knows. However, saying that, the rally might not happen so soon and might happen in a few years time. So those who lost out after investing in December might be waiting a while until they see some sort of profit.
One blockchain investor, Oliver Isaacs has said that the rally could happen sooner as long as the US Securities and Exchange Commission approved a Bitcoin exchange-traded fund.
The blockchain investor believes that the approval of Bitcoin’s ETF could be the thing that pushes the market in the right direction:
“The approval of a Bitcoin ETF will open the floodgates for new investors to pour billions of dollars into cryptocurrencies with the same ease in which they invest in stocks and all other mainstream asset classes.”
As said by blokt, if the SEC allows the Bitcoin ETF to go through then it could launch the biggest cryptocurrency by market cap to new heights. Isaacs said that the situation is now similar to what happened to the price of gold back in 2003.
Isaacs said:
“The precious metal increased more than 300% in its price in the aftermath of the first ETF approval back in March 2003.”
The SEC’s approval of a Bitcoin ETF could have a similar effect on the market. The blockchain investor predicts that if it happens, the leading digital currency could end up climbing to heights of over $22,000.
What are your thoughts? Let us know down below!

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The Potential Wrapped Bitcoin Has On Ethereum & Bitcoin

Wrapped Bitcoin is a new innovative token which aims to bridge the gap between both the Ethereum and Bitcoin blockchains. Working as a joint venture between BitGo, Kyber Network and Republic Protocol Wrapped Bitcoin was launched on the 26th October 2018.
The new Bitcoin ERC20 token will bridge the worlds of the two leading crypto assets in the idea that it will basically allow Bitcoin to be traded against other assets on Ethereum-based decentralised exchanges, bringing liquidity from Bitcoin to Ethereum and allow for a whole new suite of Ethereum enabled Bitcoin applications.
As stated by CryptoGlobe:
“In a significant departure from other kinds of asset-backed tokens such as USD stablecoins – which have come under fire for their perceived lack of transparency – the project aims to ensure transparency by ‘minting’ and burning the tokens in a way which is publicly verifiable on both the Bitcoin and Ethereum blockchains.”
In a recent interview the CEO and co-founder of Kyber Network, Loi Luu discussed the project its origins and what its potential impact on the crypto economy is.
One of the first questions Luu was asked was if Kyber and Republic are sourcing all the initial Bitcoin liquidity for launch and if he has an estimate for the amount of Wrapped Bitcoin issued at launch:
“We will for sure provide initial liquidity, but we expect other merchants or partners will also do the same. I can’t speak for others, but Kyber side will provide at least 1 Million USD worth of Bitcoin.”
After being asked where the highest demand for Wrapped Bitcoin will be after the launch Loi Luu said:
“Decentralized exchanges and other financial protocols like Dharma, Compound finance and index funds. Would you like more exchanges and custodians to join? For example, Coinbase as they have a DEX product, bitcoin liquidity and a custody solution of sorts, would they be a partner or do you see them as a potential competitor?”
Last but not least, Luu was asked if he thinks this will increase the value proposition for Ethereum and Bitcoin:
“Absolutely, WBTC helps achieve the best of both worlds: bring the most popular cryptocurrency (in terms of market cap and trade volume) to Ethereum and allow it to be programmable with expressive smart contracts on Ethereum. “
What are your thoughts? Let us know what you think down below in the comments!

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Elon Musk Scam Pays Off For Hackers

Several hackers have been using compromised verified Twitter accounts in order to promote a fake Bitcoin giveaway by Elon Musk.
Be aware that this is a scam and you should not by any means send Bitcoin to an address that claims to be owned by Elon Musk.
The tweets have been saying that Tesla Founder is giving away 10,000 Bitcoins to the community and all you have to do is send Musk between 0.1 to 2 Bitcoins to confirm your account.
If you have a look at one of the Bitcoin addresses suggested for payment you see that over 390 transactions have been processed and they have currently received 28 Bitcoin to date. This sums up to over $135,000 at the current Bitcoin prices.

You can see the block explorer here but please, DO NOT donate! This is a scam!
However, there are still people that are donating to the scammers.
The main reason that people are falling for this scam is due to the fake accounts used to promote it have blue ticks next to their Twitter name, hooking in the gullible.
There are several well-known company Twitter accounts which have been caught up and used in the scam such as Pantheon Books and the French film company Pathe.
There are other verified accounts which have been used by the hackers which have commented under the original ‘Elon Musk’ tweet but with different names leading Twitter users to believe that this is legitimate.
One of the accounts was the Swansea City AFC Ladies account who commented saying that they had received back coins under different posts.
Whereas the hackers can change the name on accounts they can’t change the Twitter handle which is a good way to determine which ones are fake. Another indicator is that there are a few spelling mistakes within the tweet which suggests a compromised account.
Accounts which have big followers, the scammers have paid for a Twitter advertisement to promote the tweet, resulting in Twitter showing the scam tweets as promoted posts.
As stated by CBR Online:
“On accounts that have large followers such as Pathé, the scammers have paid for a Twitter advertisement to promoted the tweet, resulting in Twitter showing the scam tweets as promoted posts. Posting the scam on a hacked verified account, combined with positive replies from other compromised blue ticked accounts, shows a decent degree of organisation.”
What are your thoughts? Let us know what you think down below!

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Bitcoin Cash (BCH) Turns The Tables On Bitcoin (BTC) Before Upcoming Hard Fork

Chart for BCH/BTC (1W)
Bitcoin Cash (BCH) is about to go through a critical hard fork. Just before that hard fork, a lot of investors have started hoarding Bitcoin Cash (BCH) in order to receive the free coin. During the last few months, Bitcoin Cash (BCH) vs. Bitcoin (BTC) debates have been on a rise. Bitcoin Cash (BCH) evangelist, Roger Ver has been explaining on different forums how Bitcoin Cash (BCH) is more spendable compared to Bitcoin (BTC). This recent development in the form of a price boost just before a hard fork would also have its impact on the BCH vs. BTC debate. As the BCH/BTC weekly chart shows, Bitcoin Cash (BCH) made an impressive move against Bitcoin (BTC) last week and is now struggling to get past the 21 Week EMA.
Soon as the price breaks the 21 EMA resistances, it will have no barrier in its way to shoot towards the top of the channel. Considering that the altcoin rally is about to begin if it has not started already, we may see Bitcoin Cash (BCH) gaining against Bitcoin (BTC) for the next few months till it reaches an all time high. MACD for the above chart already confirms a breakout and points to continue upside in the weeks to come. Roger Ver also recently announced plans to launch his own exchange. He already owns Bitcoin.com and if this exchange were to do something with Bitcoin.com it is likely to get a lot of traction.

 
Chart for BCH/USD (1D)
We don’t know yet if Bitcoin Cash (BCH) would or should reach mass adoption in the near future. However, we do know that these measures are going to help the price appreciate at least for in the near future.  The number of people using Bitcoin (BTC) for online payments has dropped significantly as the transaction fees have gone over the roof. Pretty much every online merchant that accepts Bitcoin Cash (BCH) sees its customers opting for Bitcoin Cash (BCH) more than they opt for Bitcoin (BTC). This does not necessarily mean that people believe that Bitcoin Cash (BCH) is a better investment, but that they believe that it is more spendable. The transaction costs for Bitcoin Cash (BCH) are very affordable which is why we still see forks like Bitcoin Cash (BCH) and Litecoin (LTC) having a strong use case and reason for existence in the market.
Bitcoin (BTC) set out to resolve the double spending problem. Some people are going to think that if there are more than 1000 cryptocurrencies in the market, has it solved that problem or worsened it? Now, the truth of the matter is that there was supposed to be only one universally accepted digital currency, Bitcoin (BTC). That has still not changed. All these cryptocurrencies like Ripple (XRP), Litecoin (LTC) and Bitcoin Cash (BCH) may continue to have their own distinct use cases but they are not going to challenge the position of Bitcoin (BTC) as a standard.

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XVG Up 76%, ETH Up 32% & BTC Up 29% By 2019 According To Finder Report


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The panel of ‘experts’ at Finder have published their latest report, exploring a number of cryptocurrencies and making very elaborate predictions on how they expect the cryptocurrencies to perform over the coming weeks and months. Now before we begin, we should highlight that these predictions are very bullish and that even though this is a panel of experts, predictions are just that – predictions, based on speculation and rough calculations, nothing more. Therefore, we can’t take this as absolute fact and shouldn’t use this report to justify any investment decisions. Now, with that cleared up, let’s take a look at the Finder report.
What is Finder?
Finder is technically a comparison website, so it gives users a way of comparing the price of various different products in order to make better buying decisions. Within this, they have a number of expert panels that explore and compare different products and investment packages. One such package is cryptocurrency.
The cryptocurrency panel is made up of a number of leaders within the Financial Technology industry who get together once a month to compare their own predictions about how cryptocurrencies will perform over the coming weeks. Often, these predictions are bullish but sometimes many do ring true.
Who are the experts?
As stated, all experts on the panel are leaders in the Fintech industry, therefore most have executive positions at a number of large Fintech firms including Every Capital, Laurence Ventures and Satoshi School.
The Finder disclaimer
Importantly, Finder.com does stipulate the importance of noting that this is not investment advice:
“This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators’ websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.”
The report
Now to the good bit, let’s take a look at the report and the report’s predictions.
The November edition of the Finder.com report explores 13 cryptocurrencies all in all, including Bitcoin, Ethereum, XRP, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON, Binance Coin, Bytecoin and Verge. This is composed of the top 10 cryptocurrencies by market capitalisation and the top three trending cryptocurrencies (BNB, BCN, XVG).
“This month, we asked our panellists to forecast the value of the top 10 coins and the top 3 trending coins by the end of 2019. Our panellists expect that on average most coins will see an increase in value by the end of next year, with the exception of Bytecoin, which is predicted to decrease in value by 5%.”
Furthermore:
“Of the 13 coins, our panellists forecast that on average, Verge will experience the greatest price growth by 1 December 2018 (76%). This is followed by Ether (32%) and bitcoin (29%). The panel was most optimistic for XRP’s success, with an average predicted value rise of 327% by the end of next year. This is followed closely by Ether (211%) and EOS (189%).”
The report doesn’t just explore price changes and price predictions, the panel has also made predictions on some major market capitalisation movements that seem likely to occur within the top ten cryptocurrencies:
“We calculated market cap predictions using the number of coins expected to be in circulation by the end of next year and our panellists’ forecast of each coin’s value by the end of next year. As for the forecast market capitalisation for Bitcoin, Bitcoin Cash and Ether — the only coins of the 10 with a reported number of coins available by 31 December 2018 — our panel predicts that Ether will see the greatest increase in market cap growth by the end of 2019 (243%). Bitcoin follows with a 177% increase, while Bitcoin Cash is picked to come in at 77%.”
As you can see, these predictions are a little wild, however, if you actually refer to the report, many of the experts offer comments and justifications for their predictions. This isn’t just a case of people stabbing in the dark for a number, these predictions have been based on experience and calculations, therefore at the very least, it’s important that we listen to what the panel is saying.
As we have said, don’t take any of this to heart. For now, the best advice is to watch the markets to see what happens. Hold on and ensure you take time to manage your assets. Keep an eye on things because from the state of the markets today at least, things are finally starting to look a little more positive.

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Source: Crypto Daily