Bitcoin [BTC/USD] Price Analysis: Sideways trend resumes as bears suck volatility out of the market

Bitcoin has been moving stagnantly in a sideways fashion for over a week now, ever since its short-term pump on 8 February 2019.
The price of Bitcoin, at press time, was at $3,576 with a market cap of $63 billion. The 24-hour trading volume of Bitcoin is at $5.89 billion, and most of the trading volume for Bitcoin is coming from BitMEX by trading BTC perpetual contracts against the US Dollar.
1-hour
Source: TradingView
The one-hour chart for Bitcoin shows an uptrend that extends from $3,366 to $3,577, while the downtrend in the current time frame is not yet formed. The support at $3,358 is far from being tested ever since the above-mentioned rally. The resistance at $3,498 was breached a few days back however while the subsequent resistance at $3,577 is currently being tested.
The Parabolic SAR markers have spawned below the price candles, pushing the price upwards in line with a bullish trend.
The MACD indicator shows a bullish crossover as the MACD and the signal lines have crossed each other and are headed up.
The Relative Strength Index is slightly above the 50-line but below the 60-line. This indicates that the buying momentum is increasing for Bitcoin.
1 Day
Source: TradingView
The one day chart for Bitcoin shows a dominant downtrend that extends from $9,800 to $3,590. There isn’t a major rally which would lead to the formation of an uptrend. The support at $3,189 is holding good since November of last year. However, the support at $4,111 has now become a resistance line. The long term resistance for Bitcoin can be seen hanging at $7,641.
The Aroon indicator shows a further decline of the uptrend which was due to the recent short-term rally that occurred during the second week of February.
The Stochastic indicator is showing a bearish crossover in which, the Stochastic line and the signal line are both moving downwards.
The Chaikin Money Flow reads above the zero mark and indicates a decrease in the momentum of buyers i.e., the buyers getting exhausted while simultaneously the sellers gaining momentum.
Conclusion
The one-hour chart for BTC shows a relatively positive outlook as indicated and confirmed by the MACD, SAR and the RSI indicators. However, the longer time frame indicates a completely opposite trend for Bitcoin i.e., bearish trend, as indicated by the Aroon, Stochastic, and CMF indicators.
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Source: AMB Crypto

Bitcoin [BTC] among cryptocurrencies enabled by new debit card launched by Australian Crypto exchange

The wider adoption of cryptocurrency has taken another major step forward after it was recently announced that parts of Australia will start the process of accepting cryptocurrencies like Bitcoin, XRP, Ethereum, and Litecoin from customers to buy groceries in supermarkets and retail shops.
myCryptoWallet, one of Australia’s leading exchanges, has launched the myCryptoCard which enables consumers to spend cryptocurrency at one million locations and withdraw money at 30,000 ATMs.
The exchange is a digital currency service based in Melbourne, Australia and it provides a number of services to customers which includes fiat deposit, wallet withdrawal services, cryptocurrency debit cards, an online live peer-to-peer digital marketplace and a fast-paced exchange between Australia and New Zealand via digital assets.
The CEO of MyCryptoWallet, Jaryd Koenigsmann, stated after the announcement:
“MyCryptoCard will play a major role in bridging the gap between cryptocurrency and the mainstream. The cards means consumers have the flexibility to use crypto where, how and when they like, and do away with so many of the fees that come about when exchanging back and forth between crypto and fiat.”
MyCryptoCards will be linked to the user’s digital wallet on the exchange which will have the capacity to hold Bitcoin, Ethereum, Ripple, Litecoin and Power Ledger virtual currencies. The initial point of sale purchases in Australian dollars will be automatically converted with regards to the crypto prices at the moment of trade.
According to Koenigsmann, since MyCryptoCard is not just limited to Bitcoin, it will bring higher levels of spending flexibility and allow consumers to trade with their favored cryptocurrency. The card also plans to add 50 news coins to its platform in the near-term and introduce a dozen new digital currencies which will soon hit the mainstream wallet.
There will be no fees associated with spending or withdrawing from MyCryptoCard and the absence of these fees puts the common fees associated with the conversion of fiat to cryptocurrency to bed.
Finally, the CEO has also announced a giveaway of the first 3000 debit cards for free to celebrate the launch of MyCryptoCard.
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Source: AMB Crypto

XRP gets another boost by being paired with the Iranian Rial [IRR] as XRP/IRR

The mainstream adoption of cryptocurrencies has slowly picked up with institutional investors coming into the picture too. Ripple and XRP have been a major spearhead for this phenomenon, with several partnerships with cryptocurrency organizations as well as institutional companies.
Apart from partnerships, XRP has also been implemented in different countries which were aimed to make cross border transactions simpler and cheaper. The latest news on February 15 stated that XRP has tied with the Iranian Rial [IRR], making it available for transactions.
The announcement was made by Nobitex, a cryptocurrency exchange with the IRR becoming the 44th fiat currency to be tradeable with XRP. Nobitex is also a proponent of cross border transactions with the main goal being:
“Collaboration with startups and other companies to create a payment gateway through digital currencies to settle with foreign customers.”
Iran has also been in the cryptocurrency news spectrum when the country’s Central Bank issued new draft rules that lifted the ban on Bitcoin [BTC]. The new rules came in the light of Iran’s own efforts to launch a naive cryptocurrency called “Crypto-Rial”. According to the acting head of Iran’s Trade Promotion Organization, Iran is currently negotiating to introduce cryptocurrency to financial transactions with representatives from eight countries including Russia, Switzerland and South Africa.
Ripple and XRP also shared the limelight recently when the company talked about JP Morgan launching its own cryptocurrency, JPM Coin. Some even commented on JPM Coin being a competitor for Ripple. Tom Shaughnessy, principal at Delphi Digital stated:
“This is a huge slap in the face for Ripple. Ripple’s target market is cross-border payments and remittances and now JPMorgan’s effort is a direct threat.”
Even Ripple CEO Brad Garlinghouse got in on the action by saying:
“As predicted, banks are changing their tune on crypto. But this JPM project misses the point- introducing a closed network today is like launching AOL after Netscape’s IPO. 2 years later, and bank coins still aren’t the answer.”
The post XRP gets another boost by being paired with the Iranian Rial [IRR] as XRP/IRR appeared first on AMBCrypto.
Source: AMB Crypto

XRP worth $7.5 million [25,000,000 XRP] transferred from third richest XRP wallet

A sum of 25 million XRP worth $7.5 million was transferred recently from the third richest XRP wallet to another wallet. XRP, a cryptocurrency coin closely connected with payments company, Ripple and enterprise blockchain software company, R3 is third on the list of the world’s largest cryptocurrencies, at press time.
The transaction of 25 million XRP cost a mere 500 drops [0.0005 XRP] which is approximately worth $0.0001514. The transaction took place on February 14, 2019, at 5:21 PM UTC.
XRPL monitor tweeted:
“Transaction Type: Payment
Amount: 25,000,000 XRP
Fee: 500 drops (0.0005 XRP)
Sender: Ripple
Sender Balance: 2,496,635,065.5766
Receiver: rPfSrrKY97EihgZeAwqgR7g1tYzDDJoAys
Receiver Balance: 25,022,278.99987”
The current balance in the new wallet [rPfSrrKY97EihgZeAwqgR7g1tYzDDJoAys] is the same as the amount received, which suggests that it is a fairly new wallet. A total of 15 transactions have been recorded for the aforementioned wallet, the first transaction being on November 16, 2018.
The peculiar thing about this transaction is the identity of the sender [rKveEyR1SrkWbJX214xcfH43ZsoGMb3PEv]. According to data obtained by Bithomp XRP explorer, the sender was Ripple itself.
The wallet address, as per Bithomp belonged to Bitstamp and has a total balance of 2.497 billion XRP, which is worth a total of $752 million and 210,167 BTC.
The sender has had a total of 13 transactions and some people suggest that this wallet could be linked to escrow wallets. The Ripple wallet, however, was activated on December 01, 2017 at 22:54. The Ripple-owned wallet is the third richest wallet on the XRPL.
The first four richest wallets belong to Ripple, the richest wallet [rDbWJ9C7uExThZYAwV8m6LsZ5YSX3sa6US] had a total of 4.68 billion XRP. The second richest wallet has 3.73 billion XRP, the third is aforementioned and the fourth richest wallet has 1.95 billion XRP. The fifth wallet, however, belongs to Bitstamp and it has a total of 1.1 billion XRP.
Moreover, the wallet that received the above-mentioned amount of XRP has now achieved the rank of 128th richest cryptocurrency wallet.
@xrpgiles, a Twitter user speculated as to where this transaction was going, commenting,
“Boom ! JP Morgan have realised after three hours that superior tech exists ha ha ! @digitalassetbuy”
@smcmass1, another Twitter user came to the same conclusion as he commented,
“This transfer must be for JP Morgan to transfer internationally to other big players that don’t want their coin. JP Morgan needs this :)”
@cathy02755674 replying to smcmass1 said,
“What JP Morgan needs is for Warren Buffet to stop pulling their strings. They only wish they could have partnered with Ripple!”
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Source: AMB Crypto

Bitcoin SV [BSV]: Coinbase releases cryptocurrency while allowing users access to external wallets

The American cryptocurrency exchange Coinbase will now allow its Bitcoin SV [BSV] holders to withdraw the coin to external wallets, as confirmed by an updated blog post on the exchange’s website.
Many exchanges announced the dissemination of the Bitcoin SV, after the coin hardforked from Bitcoin Cash [BCH] towards the end of 2018. However, the American exchange held off the announcement for three months. In light of the above, Coinbase Support recently tweeted:
“We have now begun emailing customers that held Bitcoin Cash (BCH) at the time of the hard fork with instructions on how to withdraw their corresponding Bitcoin SV (BSV).”
Bitcoin SV [BSV] has been on a steep decline since the coin was introduced in mid-November 2018, following the hardfork and hash war drama that drew in the likes of nChain’s Craig Wright, Bitcoin.com’s Roger Ver, and Bitmain’s Jihan Wu.
The coin is currently languishing in the eleventh spot on the global coin rankings, booted out of the top-10 by Binance Coin [BNB] one week ago. With Coinbase now releasing Bitcoin SV tokens to users that held Bitcoin Cash prior to the hardfork, a massive Bitcoin SV dump might ensue, leading to a further decline in the price of the coin.
With reference to the BSV still held, the exchange stated:
“As such, the amount of BSV now available in respective customers’ Coinbase.com accounts is the same as the amount of BCH that was in their Coinbase (Coinbase.com and Coinbase Pro) account at the time of the hard fork.”
Coinbase has however reaffirmed its lack of support for BSV trades and stated that the customers cannot sell the virtual currency on the exchange. A statement released on February 14 read:
“Coinbase does not support purchases or sales of BSV, so customers cannot sell their BSV for fiat currency on Coinbase. They may send their BSV balance to an external wallet.”
Coinbase Support also stated that users can choose to hold their BSV tokens as there is no deadline for withdrawing the coin:
“There is no deadline for withdrawing BSV so you can hold it in your wallet indefinitely.”
At press time, Bitcoin SV is one of the few coins in the top-15 that have declined against the US dollar, with the token down by 0.89 percent and now posting a price of $62.91. Despite the fact that the feared dump hasn’t materialized, a continuing bear run does not rule the prospect out. A twitter user @Sop, voiced what many think will eventually happen:
“BSV dumping will start in coming days…”
The move hasn’t been welcomed by all with some Twitter users displeased at Coinbase and their lack of support for Bitcoin SV, with a user @Janopetsa tweeting:
“This whole BSV situation has tainted my view of. Coinbase and crypto on the whole. It’s just just not a viable alternative to fiat and real assets. This is proof.”
The post Bitcoin SV [BSV]: Coinbase releases cryptocurrency while allowing users access to external wallets appeared first on AMBCrypto.
Source: AMB Crypto

Tron [TRX/USD] Price Analysis: Token fails to climb the price ladder as updates increase

The cryptocurrency market’s rollercoaster has been going on for some time now, with users and investors bracing for an attack by the bear. These price downtrends have not been exclusive to just some cryptocurrencies but, have had a widespread effect across the entire market. Popular coins like Bitcoin [BTC], Ethereum [ETH] and Tron [TRX] have all succumbed to the bear’s prowess with emphasis on the support breaks.
1-hour
Source: TradingView
After starting the year off with price hikes, Tron has fallen prey to the bear, with the downtrend becoming more and more significant. The visible downtrend resulted in the prices dropping from $0.0277 to $0.0242 while the support has been holding at $0.0236. The immediate resistance is at $0.0277.
The Parabolic SAR has been a mix of bearish and bullish signals, with the bear having a slight edge over the bull. This is evidenced by the markers staying above the price candles.
The Awesome Oscillator for Tron has fared better than other cryptocurrencies, with the amplitude still remaining significant. The AO still points to the fact that the market momentum has decreased considerably over time.
1-day
Source: TradingView
Tron’s one-day graph paints the opposite picture to that of the one-hour graph, with the uptrend standing out. The rise lifted the prices from $0.0126 to $0.0236 while the long-term support is at $0.0117.
The Relative Strength Index has started falling towards the oversold zone after staying closer to the overbought zone earlier. The hold near the oversold zone is a sign of the selling pressure being more than the buying pressure.
The Chaikin Money Flow indicator has crashed way below the zero-line. This suggests that more capital is leaving the market, than coming in.
Conclusion
The above-mentioned indicators all point to the rampant pressure by the bear on the cryptocurrency market. Tron’s user base has been vying for a ‘moon’ spike on the back of several updates and developments, something that the cryptocurrency market’s behavior is yet to provide.
The post Tron [TRX/USD] Price Analysis: Token fails to climb the price ladder as updates increase appeared first on AMBCrypto.
Source: AMB Crypto

Nouriel Roubini says JP Morgan’s cryptocurrency JPM Coin is a joke; compares it to XRP

Nouriel Roubini aka Dr. Doom has always been against cryptocurrencies and blockchain, but Roubini’s tweets regarding JP Morgan’s cryptocurrency suggests that he acknowledges cryptocurrencies.
JP Morgan, an American financial services company and bank, recently launched its own cryptocurrency called “JPM Coin”, which was created to settle payments between clients. JP Morgan, as a result, became the first major bank to launch its own cryptocurrency in the US.
The cryptocurrency faced a lot of heat from the cryptocurrency eco-system as they called it centralized as it basically destroys the ethos of blockchain and the first cryptocurrency, Bitcoin, which was created to take control away from centralized authorities.
Nouriel Roubini was one among such people who disliked the idea of a bank coin. Roubini tweeted:
“In which way has the new alleged JPMorgan crypto coin anything to do with blockchain/crypto? It is private not public, permissioned not permissionless, based on trusted authorities verifying transaction not trustless, centralized not decentralized. Calling it crypto is a joke.”
The JPM Coin is similar to stablecoins in concept as it can be redeemed for $1 and as CNBC reported, clients will be issued the coins after depositing dollars at the bank; after using the tokens for a payment or security purchase on the blockchain, the bank destroys the coins and gives clients back a commensurate number of dollars.
Nouriel Roubini went on to compare the JPM coin and XRP. Roubini retweeted his aforementioned tweet with a comment:
“Ditto for XRP. It is as much of a joke as the new JPMorgan new pseudo crypto coin.”
Even though a lot of people in the crypto-community hated the idea of a bank-issued coin, some applauded it. Twitter user @Tusharjain tweeted:
“Banks were obviously never going to use XRP for settlements and enrich Ripple Inc (who owns more than half of all XRP). They would rather enrich themselves instead!
Kudos to JPM for being first. They are going to wipe the floor with Ripple.”
Miked Dudas, the founder, and CEO of The Block, commented:
“JP Morgan, the bank whose CEO Jamie Dimon has called Bitcoin a “scam” + said “I don’t really give a shit about Bitcoin” is launching its own cryptocurrency.
When @TheBlock__ inquired a month ago, JP Morgan blockchain execs denied this was in the works.”
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Source: AMB Crypto

XRP/USD Price Analysis: Bulls carry coin ahead while bear sharpens its claws

The cryptocurrency market had been under the bear’s vice and this contributed to XRP slipping from its second position on CoinMarketCap in terms of market cap, to third this month. Ethereum [ETH] took over XRP’s place in the market and it appears that the two coins are in a tough fight for the spot.
At press time, XRP was valued at $0.3032, with a market cap of $12.4 billion. The coin registered a 24-hour trading volume of $407 million, with a minimal fall of 0.27% over the past day. The coin noted a growth of 3.55% over the past seven days while registering a rise of 0.17% over the past hour.
1-hour

Source: TradingView
The coin’s one-hour chart indicates a downtrend from $0.3215 to $0.3128, followed by another downtrend from $0.3176 to $0.3093. XRP drew a resistance at $0.3107 and a support at $0.3059.
Bollinger Bands appear to be converging, indicating reduced volatility in the market. The moving average line is under the candles, suggesting a bullish trend.
Awesome Oscillator points towards a weakened bullish momentum.
Chaikin Money Flow has the marker above the zero-line, indicating that money is flowing into the market and that a bullish ride may be in the offing.
1-day

Source: TradingView
The one-day chart of the coin marks an uptrend from $0.2707 to $0.4785 and a downtrend from $0.5558 to $0.4785. The coin traced resistance at $0.3276 and support at $0.2926.
Parabolic SAR points towards a bearish reign as the markers have aligned themselves above the candlesticks.
MACD line is over the signal line, marking a bullish market.
Relative Strength Index indicates that the buying and the selling pressure are evening each other out.
Conclusion
As per the indicators, Bollinger Bands, Awesome Oscillator, Chaikin Money Flow and MACD, a bullish trend is forecast. However, the lingering presence of the bear cannot be ignored.
The post XRP/USD Price Analysis: Bulls carry coin ahead while bear sharpens its claws appeared first on AMBCrypto.
Source: AMB Crypto

Ripple and XRP face new challenges as JP Morgan launches new stablecoin, JPM coin

JP Morgan launched its own stablecoin on February 14 and after being used for just one transaction, it has been applauded and called by some as the game changer for digital assets, reported Bloomberg.
The company hopes that its clients soon use JPM coins for cross-border payments, which would pose serious competition for the more prominent blockchain company, Ripple. This new coin is a direct challenge to Ripple and its digital currency, as per Tom Shaughnessy, principal at Delphi Digital which is a crypto research boutique in New York. The third largest cryptocurrency as per market cap, XRP could be used to carry out faster transactions for lower cost with respect to cross-border payments.
Ripple has been in the business for long and has been aiming to replace the SWIFT network used by banks, individuals, and businesses to carry out financial transactions. While JP Morgan registers transactions worth $5 trillion in wholesale payments every day, such a step could have a huge impact on its rivals. Shaughnessy said:
“This is a huge slap in the face for Ripple. Ripple’s target market is cross-border payments and remittances and now JPMorgan’s effort is a direct threat.”
As per the publication, Ripple’s CEO Brad Garlinghouse dismissed the impact of the coin’s launch and tweeted saying:
“As predicted, banks are changing their tune on crypto. But this JPM project misses the point- introducing a closed network today is like launching AOL after Netscape’s IPO. 2 years later, and bank coins still aren’t the answer.”
The San Francisco-based company has claimed that it has more than 200 banks and payment providers on its Ripple Network, which also includes Japan’s Mitsubishi UFJ Financial Group Inc. and Standard Chartered PLC, as per their website.
Travis Kling, the Los Angeles-based founder of crypto hedge fund Ikgai Asset Management had this to say:
“JPM’s project is much more evolutionary than revolutionary — it is utilizing a private, permissioned blockchain technology called Quorum, which is much closer to a Google Sheet than a Bitcoin. The project is clearly competing directly with Ripple Labs and their centralized cryptocurrency XRP.”
The JPM coin, unlike XRP, is pegged to the dollar, thus offering a stable medium of exchange for the people, while XRP was trading above $3 in early 2018 and has gone down to 30 cents currently. Shaughnessy added:
“The JPM Coin is a stable coin whereas XRP is anything but stable. That’s going to be a very contentious point for banks who don’t want the currency in which they make payments to be volatile.”
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Source: AMB Crypto

Bitcoin [BTC]: Daily average block size hits an all-time high of 1.3 MB

Bitcoin, the largest cryptocurrency according to market capitalization, has often been under a lot of criticism for its limited block sizes on their blockchain. The disagreement even led to a hard fork within the cryptocurrency, which subsequently led to the birth of two new crypto assets, Bitcoin Cash and Bitcoin SV.
However, according to recent data from blockchain.com, Bitcoin’s daily average block size has reached 1.3 MB, an all-time high.
The blocks of a blockchain act as a digital record book where all the transactions are stored. The independent units are organized into a linear sequence over time as new transactions are constantly being processed and added by miners and the length of the blockchain increases. The higher the number of blocks gets buried in the blockchain, the more difficult it is to remove and make changes in the blockchain, contributing to the irreversibility of Bitcoin’s blockchain.
Average Block size graph | Source: Twitter
According to the chart, the rate of the average block size has been gradually increasing since the turn of the year, after dipping to around 0.80 MB in December 2018.
The blocks mined at press time, which is approximately every 10 minutes, is marginally larger than the previous limit of 1MB which was put in place by the Bitcoin network. The improved block size can be attributed to the introduction of Segregated Witness [SegWit] in August 2017.
Since the introduction of SegWit, the concept of ‘block size’ has been slightly updated to ‘block weight,’ allowing block capacity to be raised up to 4 MB in capacity.  In the current Bitcoin network, around 40 percent of all Bitcoin transactions are using the concept of Segwit.
The implementation of SegWit has also opened the possibility for off-chain scaling of which the Lightning Network is the prime example. The Bitcoin Lightning Network is currently growing at a rapid pace due to the involvement and support of crypto users and high-profile personalities.
Moreover, according to blockchain.com, the implementation of SegWit might have also affected transaction fees and transaction rates on the Bitcoin network as they have approached their all-time low and all-time high respectively.
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Source: AMB Crypto

Binance Coin [BNB] pumps by over 6% as most other top-10 tokens face slump

The cryptocurrency bear market is stronger this time as most of the major coins are undergoing major changes almost every day. However, Binance Coin has taken advantage of the bear’s lose grip and has jumped by over 6%.
Source: Trading view
At the press time, BNB, was valued at $9.47, with a market cap of $1.3 billion. The coin registered a 24-hour trading volume of $85 million while registering 6.80% growth over the past day. The coin, however, has fallen by 0.25% after surging due to market correction. The coin has registered a growth of 16.58% over the past seven days.
Binance Coin [BNB] registered a volume of $29 million with the BNB/USDT pair on Binance. The second position in terms of trade was on the BNB/BTC pair, with a trade volume of $21 million. The third place was taken by P2PB2B, with a volume of $6 million on the BNB/BTC pair.
Looking at the growth in the coin’s price, Binance’s CEO Changpeng Zhao, or popularly known as CZ, tweeted:
“…18 months ago, 3 weeks after launch, $BNB at ATH, price is 1/50th of what it is now, 4 coins traded on @Binance. The tweet has 2 comments (as of this writing). Keep #buidling!”
Binance Coin was recently added on another medium, SpendApp, which will enable BNB holders to buy/sell the token with their account. Spend.com shared this news on Twitter by stating:
“#Binance Coin is now available on the #SpendApp. Buy/Sell $BNB with your bank account. Exchange $BNB with all supported assets. Spend $BNB at 40+ million locations with the Spend Wallet by instantly converting to fiat with the #Spend Visa® Card!@cz_binance @binance @Teddy_Lin”
Binance exchange is the largest exchange in terms of trading volume and recently, the CFO of the company, Wei Zhou, claimed that business is still profitable instead of the bear ravaging the market.
The post Binance Coin [BNB] pumps by over 6% as most other top-10 tokens face slump appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum [ETH]: Cryptopia to resume operations a month after hack stole $16 million in Ethereum

The New Zealand-based cryptocurrency exchange Cryptopia has resumed operations following a green light from the local police, a month after the exchange was hacked.
Cryptopia boasts 2 million users globally and offers trading for a host of notable cryptocurrencies. The main hack, which took place on January 14, and the hack that followed on the January 28, cost the exchange an estimated $16.1 million [or over $23 million in New Zealand Dollars], with a large proportion of funds taken out of Ethereum [ETH] wallets.
At press time, the company’s website is non-operational. However, a message regarding the hack and an update about its co-operation with local authorities has been posted. It stated:
“Cryptopia has notified and is cooperating with the appropriate government agencies, including the NZ Police and High Tech Crimes Unit.”
Furthermore, the exchange posted on their official Twitter account following a month of inactivity. In the tweet, Cryptopia stated that the exchange is working tirelessly to ensure that the stolen funds are retrieved as soon as possible. It read:
“Update: The police have now given us access back to our building, while they continue their investigations. Our staff are working relentlessly to evaluate the funds that were stolen.”
The significant part of the work by the investigating High Tech Crimes Unit has been completed at the Christchurch office of Cryptopia, as confirmed by Greg Murton, a Detective Inspector. Additionally, the authorities stated that the exchange now has full access to their business premises, which was also confirmed by Cryptopia in the above tweet.
Murton did not confirm the quantity or value of virtual currencies stolen during the hack. However, he did state that the police are not interfering with the exchange in the investigation and that the latter is free to commence their operations, without any hindrances.
Earlier in the month, the local police had stated that the investigation was going well and that the process will take a “considerable amount of time to resolve due to the complexity of the cyber environment”.
Twitter users are not happy that the exchange was locked up for over a month and that the accounts were frozen, with no access or any notification from the company’s end.
Twitter users, however, remain skeptical about the announcement. One of them, @CryptoSurvivor, replied to Cryptopia’s tweet:
“Thats not good enough. It’s been exactly one month. About time we get to our respective accounts and protect our funds. You obviously have no clue how. Take the hit and be accountable for your mismanagement.”
@Domienbueds, commented,
“We just want our funds back! Its been long enough!”
@RobertRenders stated,
“Thank you for this update. As we all know, nothing so frustrating as not knowing or getting no response. Hope current circumstances suit the team better and allows it to give clients an update on a daily (?) basis. Even if it doesn’t entail much.. Good luck with the task at hand”
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Source: AMB Crypto

$2.47 million in cryptocurrency stolen from Turkish firm by hackers communicating through PUBG

Cryptocurrency networks are often exposed to the threat of thefts that loom over the network’s security. It is for this reason that such networks and firms spend a significant amount of capital to fix the critical vulnerabilities and improve the protection quotient.
A Turkish firm failed this test after a group of cyber criminals pulled off an online heist on a domestic cryptocurrency company. The group of alleged hackers has been detained by the local authorities and according to reports, the hackers used the highly popular game PUBG as a medium of communication prior to the cryptocurrency theft.
The Turkish company which has fallen to the vicious attack of the virtual hackers is an Istanbul-based cryptocurrency firm. According to the Daily Sabah, a local news publication, the identity of the firm has not been disclosed, however, it has been suggested that the firm provides digital currency trading platforms.
A reported $2.47 million was stolen in the hack. The police authorities have suspended 24 members involved in the felony, following a nationwide investigation across eight of Turkey’s provinces. However, police raids could only recover $256,000 of the stolen $2.47 million.
The authorities had been informed about the hack by the cooperation itself. In its primary report, it stated that a large amount of Bitcoin, Ethereum, and XRP had been stolen. However, the Istanbul Cybercrime Branch Officer later clarified that not one, but two firms’ cryptocurrencies were compromised, amounting to a total of 13 million lira. The funds were transferred from the company wallets to the digital wallets controlled by the hackers.
The official police report has also confirmed that the felons had been communicating with each other using the popular battle royale video game called Player Unknown’s Battlegrounds, or popularly known as PUBG.
The incident, which highlights yet another case of a firm’s compromised security, has raised a lot of questions and reactions. A Redditor, bitcoin_master, commented:

“It is safest for one to protect their Bitcoin and other digital assets by taking responsibility for securing their own financial capital and keep a check of their own private key.”

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Source: AMB Crypto

Tron Foundation’s Justin Sun says their aim for 2019 is to educate people on why Tron is better of all tokens

Tron, the eighth-largest cryptocurrency on the CoinMarketCap list has been performing well over the past few days. The Tron Foundation’s CEO and founder, Justin Sun, has been actively promoting the BitTorrent token [BTT] and it has reflected in its growing popularity. In a recent interview with The Street, Justin Sun stated his vision for Tron and BitTorrent token in 2019.
Tron’s known aim is to decentralize the web, however, this year, Tron aims to educate people on the topic “Why TRON over anyone else?”. Sun informed:
“…we’re constantly improving the protocol to deliver a better experience for everyone. When we talk about decentralizing the web, we’re thinking longer term about returning privacy and ownership online to the people, so that it’s not concentrated in the hands of just a few very large companies.”
Sun has appreciated the effort of the community in embracing BTT and informed that this month, Tron Foundation will be distributing a number of BTT tokens for free through a token airdrop to the holders in places apart from the US and China. Sun also said:
“We will follow with a live streaming product in some markets later this year.”
Apart from the airdrop, like Tron community, the BitTorrent Community is also growing and is “is getting introduced to the TRON community, in particular, the 27 Super Representatives who govern the network’s ledger with the consent of our decentralized community”.
The founder opined on the adoption process and what could drive it. According to Sun, once people understand blockchain as a technology and not just as a scheme to get rich, adoption will increase. However, for that to happen, Sun said:
“Companies have to create use cases that make sense, and which benefit the global community.”
Sun concluded by saying that he wanted people to not think of the cryptocurrency market as a money-making idea and understand why tokens and projects stand out over other solutions and “whether they can stand the test of time”.
The post Tron Foundation’s Justin Sun says their aim for 2019 is to educate people on why Tron is better of all tokens appeared first on AMBCrypto.
Source: AMB Crypto

Litecoin [LTC] Price Analysis: Bear’s grasp over the coin tightens

With a total market cap of only $120 billion, most of the crypto assets on CoinMarketCap are now in the red. Despite last week’s surge, digital currencies have stepped back, falling behind support levels, including Litecoin [LTC], which currently stands fourth after a sudden flip last week.
The silver crypto opened at $43.83 and traded at a high of $44.51 before falling down to $41.42 and finally, closing at a low, recorded at $42.00.
The pair LTC/BTC has been trending on five different exchanges. Leading the way was OKEx, with a 24-hour volume of $63.91 million. The second exchange platform on the list was Coineal, with a volume of $57.63 million, was followed by DigiFinex with a volume of $56.63 million.
At the time of writing, the market capitalization held by LTC stood at $2.51 billion. LTC was valued at $41.56, with a volume of $1.09 billion. The fourth-largest coin displayed a slip of 2.15% in the past 24 hours.
1-hour:
Source: TradingView
An uptrend from $43.01 to $43.67 has been recorded for the coin on the hourly chart. The downtrend for the same has been recorded from $46.52 to $43.68. The resistance is marked at $42.35, while the support is at $40.78, which is uncomfortably close to the price of the coin.
Parabolic SAR: Dotted markers are placed above the candles, suggesting a bearish phase for the silver coin.
Chaikin Money Graph: The CMF is trending just below zero, suggesting that money inflow is lower than the outflow.
Klinger Oscillator: With the reading line looking to move over the signal line, the KO indicator predicts a potential bullish crossover soon.
1-day:
Source: TradingView
An upward trend from $23.25 to $30.68 and a massive downward trend from $55.91 to $38.87 has been recorded on the altcoin’s one-day chart. The immediate resistance noted for this time period is marked at $46.48 and the support point is at $38.67.
Bollinger Bands: The diverging Bollinger Bands suggest a high probability for a significant price fluctuation in the LTC market.
Awesome Indicator: The lines are slowly turning red, indicating that the price momentum is moving towards a bearish phase.
MACD: The MACD line is placed above the signal line. This suggests that a bullish market may soon be in the offing.
Conclusion:
Parabolic SAR, CMF, AO indicators all paint a bearish picture for the LTC market. However, a faint bullish trend is predicted by the KO and MACD indicators. Price movement for the coin seems inevitable as the Bollinger Bands suggest some price volatility in the future.
The post Litecoin [LTC] Price Analysis: Bear’s grasp over the coin tightens appeared first on AMBCrypto.
Source: AMB Crypto