Crypto Market Capitalization Drops by $35 Billion in November, Lower Prices Likely

Global market drops by $35 billion USD in three weeks.
Alts gain ground on Bitcoin (BTC) as XRP falters below Ethereum (ETH).
A cold market to trade.

The global crypto market capitalization plummeted by $35 billion USD so far in November as miners capitulation stretches on through the third week. Bitcoin (BTC), the pioneer cryptocurrency, leads the market’s plunge with a nearly 30% drop in value during the period, with altcoins gaining against the top coin. Altcoin Perma bulls are screaming for an oncoming uptrend but BTC bulls retain the belief of having the last say in the long run.
Crypto market plummets $35 billion USD in November
Cryptocurrency investors and traders enjoyed the Chinese boom period while it lasted through the final week of October. However, the market has turned red dropping from a high of $258.7 billion USD on October 26th to a current $223 billion USD, representing 13% drop in three weeks. The total market cap has gradually dropped through the months of August and September from July highs which saw the market record a yearly high of $386 billion USD.
Source: Coinstats
However, zooming out the charts, the 2019 crypto market cap growth rate has been nothing but impeccable during the year. A tremendous $98 billion dollars growth in value of the crypto market, represents a 78.9% growth rate since January.
BTC market dominance falters as altcoins gain
As BTC plummets further below the $8,200 USD mark extending its poor performance against the green buck since the Xi pump causing a dip below the falling wedge support level on the daily candles. The extended bear period has caused BTC’s market cap to slightly drop from 70% at the start of November to 66%, as at time of writing.

Ethereum (ETH) has sustained its pressure against the BTC pair, increasing its market cap and dominance in the market gradually to $19 billion and 8.64% as at press time. In contrast, XRP has not followed suit as the digital asset struggles to break above $0.30 USD. The third largest coin has lost ground against both the dollar and BTC over the last few weeks dropping from a 5.88% dominance at the start of November to 4.84% today.
A cold market to trade
BTC has always led the crypto market and the net bull run does not seem to be any different, many Bitcoin perma bulls have said in the past. With miners capitulating in the BTC market causing a selloff, this may be a call to take it easy on crypto trading and hold your dollars. One trader wrote on Twitter,

$ALTS market cap looks really bad! 😬 The $BTC pairs looks great but if all of crypto is going to dump it may be best to hedge into USD until things bottom.. pic.twitter.com/uscrm4zUAN
— Smack💥 (@SmackTrades) November 19, 2019

(Images from Coinmarketcap)
The post Crypto Market Capitalization Drops by $35 Billion in November, Lower Prices Likely appeared first on Coingape.
Source: CoinGape

Chainlink [LINK] Price Surges by 18.05% in 24 Hours; Up 33% in a Week

Chainlink’s price has recorded gains of 33% in this week. The monthly figures and the yearly figures are also quite impressive and stand at 29% and 568% respectively. 
A Look At Price Charts
Source- CoinMarketCap
LINK price is showing positive price trends for the past two weeks. Considering the weekly trading chart the coin has gained a strength of 20.12% rising from $ 2.02 on the 2nd of October.
Source- Trading View
The coin is up by 18.05% in the 24 – hour chart. Price shows immediate support at $2.43 and the prices will increase further if it manages to break resistance at $2.8.
Source- Trading View
If the LINK/USD pair manages to sustain above $ 2.67, the next level to watch will be $2.984. After which the price is likely to pick up momentum. However, the pair may stay range-bound if the bulls fail to sustain the price above $2.7231. 
Technical Indicators 
Relative Strength Index (14)- 79.99317
Stochastic %K (14, 3, 3)- 93.94159
Commodity Channel Index (20)- 226.21438
Momentum (10)- 0.99639
MACD Level (12, 26) – 0.16512
Exponential Moving Average (5)- 2.42695
Simple Moving Average (5)- 2.36514
Exponential Moving Average (10)- 2.22407
Source- Trading View
Developments on the Platform
Recently, Chainlink presented the Trusted Compute Framework (TCF). The framework will bolster enterprise Blockchain adoption. Also, the advent of the TCF will solve scalability issues by executing the computation off-chain. The company’s blog post states, 
Off-chain smart contract processing is more efficient than traditional blockchain transactions because it does not require replicated execution at each blockchain node.
Also, in a recent development, TomoChain integrated Chainlink Oracles to deploy Data-Driven Smart Contracts. The integration will help TomoChain to get real-time information. This, in turn, will also contribute towards TomoChain’s decentralized nature as it will allow developers to consume and transmit oracle-obtained data between smart contracts and run independently as node operators.
Meanwhile, the LINK price is up by 18.05 % over the last 24 hours, reaching its highest level since August. It is yet to reach its all-time high of $4.05 recorded on the 30th of June. 
Will the LINK price soon reach $4.05? Will it establish a bottom before surging further? Let us know what you think in the comments below!
The post Chainlink [LINK] Price Surges by 18.05% in 24 Hours; Up 33% in a Week appeared first on Coingape.
Source: CoinGape

XRP Up by 8% After Ripple Announces Plans of Expanding into Iceland

While Bitcoin and Ether prices struggle to climb up, XRP price has risen by nearly 8% in just a couple of hours after announcing its plans of expanding into Iceland. 
Source: Coinstats
XRP Expanding Operations in Europe
Ripple, in a recent development, has acquired Algrim, a 6-person engineering company that has developed an international crypto-trading platform. While the sale price continues to be in wraps, Ripple will use the deal to establish prominence in Northern Europe.
 Further, Ripple will be taking over Algrim’s HQ near Reykjavik. The new acquisition will be provide a halfway point between its US and London bases and secure access to Iceland’s small but tech-savvy talent pool. The initiative is reported to begin with Algrim’s 6 employees.
Source- Twitter
The previous week, Ripple added UAE banking giant, the National Bank of Fujairah to RippleNet. Entrepreneur Middle East confirmed the report after posting on Twitter that the popular Golf commercial bank had been added to RippleNet’s long list of banking partners
Source- Twitter
Also, a few months ago, Ripple joined hands with U.S.-based major money transfer company MoneyGram. 
Weekly Price Trend Analysis 
If XRP manages to bounce off the support it is likely that it will break $0.26 resistance and display an upward price movement.
Source- Trading View
It is also possible that XRP can slip to $0.13. The long term prospects are bullish whereas short term prospects are bearish. If the price slips below $0.21, it will create buying pressure and drive the prices up. 
Technical Indicators 
Source- Trading View
Relative Strength Index (14) – 46.28948
Stochastic %K (14, 3, 3) 23.95638
Commodity Channel Index (20- 36.22396
Momentum (10) −0.03953
MACD Level (12, 26) −0.00682
Considering the yearly scenario, XRP is down 29% this year. The prices started falling since its high of $0.41 in December 2018. While the prices displayed moderate ups and downs, they didn’t climb up until May 2019. XRP reached its yearly peak of $0.47 on the 23rd of June, followed by a gradual decline and a small peak on the 18th of September. 
The post XRP Up by 8% After Ripple Announces Plans of Expanding into Iceland appeared first on Coingape.
Source: CoinGape

Digitex Futures Introduces a New Way to Increase Liquidity

Coinspeaker
Digitex Futures Introduces a New Way to Increase Liquidity
Digitex Futures, a commission-free cryptocurrency futures trading platform, has recently announced an innovative way of liquidating positions that actively benefits its most active traders and increases liquidity.
Digitex Futures Introduces a New Way to Increase Liquidity

Continue reading at Coinspeaker
Source: CoinSpeaker

Crypto Market Report: Bitcoin and Altcoins Fared Will in Q1 2019: LTC and BNB Gains Over 100%

Bitcoin and the cryptocurrency market entered 2019 taking the maximum brunt of bear pressure of 2018 with it. The irony with Bitcoin (BTC) traders is that they are long on Bitcoin massively. However, TA also suggests that fear of a bottom isn’t behind us.
The fears of a new bottom in Bitcoin [BTC] has kept the traders guessing the direction of Bitcoin for three months now. While regulatory progress has been slow, it has been mostly positive. However, the cryptocurrency projects and Exchanges are reeling under a massive liquidity crisis. While QuadrigaCX Exchange baffled the crypto-community as cryptocurrency worth $190 million went missing, Mt. Gox Exchange issue finally met its end after five years.
The 60-Day estimate of the volatility on Bitcoin is 2.20%. The monthly volatility index is even lower at 1.33% as Bitcoin primarily traded on the $3850-$4000 range.
The dominance of Bitcoin [BTC] at the beginning of the year was 51.7. During the second week of February, it reached a yearly high of 53.5%. However, it is down to 50.2% on 31st March 2019.
2019 Q1 High: $4186
2019 Q1 Low: $3401
Q1 Gain/Loss Percentage: 8.8% Gain
BTC/USD 2019 Q1 Chart on Coinmarketcap.com
Litecoin (LTC)
Litecoin [LTC] is one of the most preferred cryptocurrencies as a medium of payment. This is primarily because of Litecoin [LTC] being completely decentralized and its efficiency as a payment system. As Charlie Lee, the lead spokesperson of the Litecoin Foundation marked the end of the scalability debate, Litecoin [LTC] embarked upon a new journey to add fungibility to the ‘digital silver’ protocol.
Charlie Tweeted on 28th January 2019
“Fungibility is the only property of sound money that is missing from Bitcoin & Litecoin. Now that the scaling debate is behind us, the next battleground will be on fungibility and privacy. I am now focused on making Litecoin more fungible by adding Confidential Transactions.”
2019 Q1 High: $63
2019 Q1 Low: $30
Q1 Gain/Loss Percentage: 99.1% Gain
LTC/USD 2019 Q1 Chart on Coinmarketcap.com
Ethereum (ETH)
Ethereum had lost its second position w.r.t market capitalization to XRP in late 2018. However, with the resurrection of the updates on Ethereum towards Proof of Stake (PoS) and Plasma implementation with the Constantinople update revied the investor confidence in Ethereum (ETH) again. Ethereum is ranked second with a total market capitalization of $14.8 billion.
2019 Q1 High: $165
2019 Q1 Low: $103
Q1 Gain/Loss Percentage: 5.9% Gain
While Tron (TRX) and EOS are ranked above Ethereum (ETH) is many surveys by technology and feature. EOS gained nearly 100% of the value since the beginning of the year. It was recently ranked number one cryptocurrency in two independent pieces of research on cryptocurrencies. Tron (TRX) has been quiet in terms of price in 2019, trading primarily in the $0.022-0.027 range.
ETH/USD 2019 Q1 Chart on coinmarketcap.com
XRP (XRP)
The trading on XRP has subsidized considerably since the beginning of 2019. Moreover, XRP has lost 12.2% of its value since the beginning of the year.
The volatility index of XPR is, however, trading has been mostly concentrated in the range of $0.299 and $0.33 since the second week of January. It can mainly be attributed to the fact that Ripple’s partnerships and diversification now have little effect on XRP. However, it remains to be the most popular cryptocurrency backed by a centralized institution and over 200 banks.
2019 Q1 High: $0.378
2019 Q1 Low: $0.288
Q1 Gain/Loss Percentage: 11.7% Loss
XRP/USD 2019 Q1 Chart on coinmarketcap
Bitcoin Cash (BCH)
Bitcoin Cash has been one of the most volatile cryptocurrencies in the top ten market cap in 2019 in terms of direction. The price of Bitcoin Cash (BCH) has both bottomed at $108 and again attained a value of $170 after the increase started from the second of March 2019 from $120 range.
2019 Q1 High: $173
2019 Q1 Low: $108
Q1 Gain/Loss Percentage: 6.36% Gain
BCH/USD 2019 Q1 chart on coinmarketcap
Total Market Capitalization
Stellar Lumens (XLM)
Stellar Lumens (XLM) attained a low of $0.0737 during February as the bottoming fear in Bitcoin, and the entire cryptocurrency increased considerably. However, the market sentiments for Stellar Lumens (XLM) improved significantly after the announcement of wide-scale implementation in IBM’s world wire which has initiated partnerships with 72 banks in more than 40 countries.
XLM/USD 2019 Q1 Chart on coinmarketcap.com
Stellar Lumens High: 0.117 in March (Post IBM announcement), $0.128 in January
2019 Q1 Low: $0.0737
Q1 Gain/Loss Percentage: 2.5% Loss
Final Market Updates
Binance (BNB) Coin was trading at $6.10 at the beginning of the year. The price of Binance (BNB) coin on 31st March 2019 was $16.93. Hence, a rise of almost 180% was recorded in three months. The other popular Exchange based cryptocurrency, Huobi Token (HT) also gained over 175% in the same period. The price of Huobi Token (HT) on January 1, 2019, was $1.07 which increased to about 2.74 on 21st March 2019. The cost of HT on 31st March was $2.54.
Some of the other top performing cryptocurrencies were Basic Attention Token (BAT), Crypto.com chain (CRO), Enjin (ENJ) Coin, Raven coin and Tezos (XTZ) with maximum gains.
The total market capitalization of the Bitcoin market attained at low of $111.86 billion.
Moreover, it has gained 13.9% since the beginning of the year. The total market capitalization of the cryptocurrency markets on 31st March 2019 was $144.2 billion.
The post Crypto Market Report: Bitcoin and Altcoins Fared Will in Q1 2019: LTC and BNB Gains Over 100% appeared first on Coingape.
Source: CoinGape

Death of Bitcoin & Crypto Market “Greatly Exaggerated”: Global Crypto-asset Benchmarking Study

Having crashed about 82 percent from its peak, Bitcoin has been proclaimed a bubble and dead. However, the latest report, 2nd Global Crypto-Asset Benchmarking Study by the University of Cambridge, it’s greatly exaggerated as the expansion is just delayed and millions of users have entered the ecosystem.
Bitcoin becoming the Biggest Buying Opportunity of Year
Bitcoin has slipped down to $3,400, losing about 82 percent of its value since its all-time high. The last time, Bitcoin went this low has been in mid-September, 2017. Various experts and analysts are predicting more drop in prices, calling out a death spiral.
“Some people assume that if [death spiral] happens, then a lot of miners will say ‘okay, I’m not making enough profits anymore because the hash rate has dropped 50 percent, so I’m going to turn off my mining’ which then causes to drop even further, which causes it to get even slower, which causes to drop even further, drop slower, death spiral, difficulty never adjusts,” says Bitcoin advocate, Andreas Antonopoulos.
However, this is unrealistic as according to him, “miners have a much more long-term perspective.”
The current price drop is rather one of the biggest buy opportunity as per Weiss crypto Ratings that says,
“BTC is getting to such low levels that it’s becoming one of the best buying opportunities of the year. As a store of value, Bitcoin is here to stay. We truly think it’s the least speculative investment a person can make in crypto right now.”
Expansion Plans of Industry Participants just Delayed
The latest report titled, 2nd Global Crypto-Asset Benchmarking Study by the University of Cambridge, addresses the matter of Bitcoin and cryptos declared as a bubble (that has been made after every global ecosystem bubble) and dead which has been created by “collapse in prices, and subsequent media coverage of the losses borne by speculative investors in 2018.”
“The speculation of the death of the market and ecosystem has been greatly exaggerated, and so it seems likely that the future expansion plans of industry participants will, at most, be delayed.”
It further reveals few key findings that involve,
Total user accounts at service providers now exceed 139 million with at least 35 million identity-verified users, the latter growing nearly 4X in 2017, but most remains passive. Additionally, individuals constitute the largest share of the user base.
When it comes to mining, the majority of identified mining facilities use some share of renewable energy sources as part of their energy mix and mining is less concentrated than commonly perceived. China remains in the top-3 countries to host mining farms while the USA and Canada are seeing rapid growth.
As for the regulatory part, the report says self-regulatory efforts reflect growing industry maturity along with KYC/AML checks to ensure compliance.
The authors share a future outlook of the crypto asset that encompasses trend towards multi-coin support, innovations in trust-minimised off-chain payment networks, and scope for stablecoins whereas non-fungible tokens thought to have a limited impact in the coming year.
 
The post Death of Bitcoin & Crypto Market “Greatly Exaggerated”: Global Crypto-asset Benchmarking Study appeared first on Coingape.
Source: CoinGape

Expert Opinion: Crypto Businesses Continue To Grow Despite Bear Markets

Note: “This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro

Mike Novogratz says its challenging and difficult to grow businesses in bear markets
Despite Bear Markets Crypto Businesses show a healthy sign of growth with resource allocation
Blockchain Projects are hiring at a rapid pace

Challenging to grow businesses in Bear Markets: Mike Novogratz
As prices remain under pressure, one of Wall Street’s greatest crypto advocates Mike Novogratz has gone on record saying that “It sucks to build businesses in a Bear Market” . Mike stated the same as 2018 was, indeed, a bearish year for cryptocurrencies and especially Galaxy Digital, with the company’s shares dropping 37 percent since they were first listed on Canada’s TSX Venture Exchange at the start of August. It also posted losses of $134 million in the first quarter, driven by $85.5 million in unrealized losses on digital investments and $13.5 million in total losses from its trading arm. During the second quarter, Galaxy Digital posted net income of $35 million, with $44.8 million in unrealized gains and a reduction of its trading losses to $1.1 million.
Things looked really difficult for Galaxy in 2018, but the pessimism by Mike Novogratz is clearly not justified. As it is difficult to build businesses in any market environment, bear market definitely do pose challenges but they need to continuously evolve to meet the clients need in all market conditions
Cryptobusiness continue to grow and hire despite market slow down
While cryptocurrencies are at all time low and challenges continue to bother growth, some businesses continue to grow especially the crypto exchanges. The prices of cryptocurrencies haven’t been able to dampen the interest in them as everyone still wishes to have a piece of this “new money.” Be it any exchange, they have grown significantly in terms of new clients. And it’s not just crypto exchanges, the crypto industry is shining brightly at the moment. Despite the bear market and broader market conditions, blockchain projects are hiring at a rapid pace. This recent study from Glassdoor.com confirms that bitcoin and blockchain roles have never been in greater demand.
The post Expert Opinion: Crypto Businesses Continue To Grow Despite Bear Markets appeared first on Coingape.
Source: CoinGape

Game On For Stablecoins as Volatility Returns to Crypto Markets

Stablecoins were introduced to protect traders and investors against the volatility of crypto markets. But the stability of the markets over the past few months had put them on the backburner. But as the volatility returned to the markets after the BCH fork, volumes in nearly all Stablecoins shot up multifold bringing them back to the limelight.
Volumes in most Stablecoins rise more than 100%
The meltdown just before the Bitcoin Cash fork bought back trademark volatility to crypto markets. Most of the coins in that meltdown took a 10% beating exposing a lot of open positions for traders. The only hiding place for these traders was stablecoins and they utilized it well. According to the data that is available in markets most stablecoins volumes rose by over 100% as traders and investors took shelter by moving their monies to stablecoins.

According to the chart above, there has been a sudden spike in volumes for stablecoins. The dark blue graph is that of USDC, yellow resembles Dai, the light blue being that of BitUSD and Green being that of the Gemini Dollar.
Owing to the meltdown, the cryptocurrency market lost over USD 30 billion of its total market value last week, but during this same time period, the prices of certain USD-backed stablecoins have remained stable or have moved up slightly.
It now appears that stablecoins are proving to be the best shelter for crypto traders as the prices of leading cryptocurrencies continue their downward journey. Because of strict regulatory policies of exchanges and many countries, fiat currencies are hard to obtain via crypto exchanges – which leaves stablecoins as the best option to hedge against the volatility of crypto markets.
One thing worth noting here was the absence of Tether. As most crypto investors and traders were aware of the controversies surrounding Tether (USDT) and due to some high risks about Tether ’s banking operations, many crypto traders seem to have found more comfort in dealing with other alternative stablecoins now available.
For now, stablecoin seems to have played their stability role well and if Bitcoin does start striking back with its traditional volatility, there is every chance that the advancement of stablecoins will be rapid as an alternative.
Is the stablecoin craze justified with volatility returning to crypto markets? Do let us know your views on the same.
The post Game On For Stablecoins as Volatility Returns to Crypto Markets appeared first on Coingape.
Source: CoinGape

Where to Put Your Money in a Bear Crypto Market?

With Bitcoin down 68% and a number of top cryptocurrencies having lost over 90% of their value from their all-time high (ATH), where exactly one should invest their money in a bearish crypto market.
Crypto Winter: Bear market of 2018
Cryptocurrencies have lost more than 50 percent of their value since they reached their peaks in early January. Bitcoin (BTC) is currently down over 68 percent from its all-time high (ATH) in mid-December at approximately $19,500.
Ethereum (ETH) and XRP, the top cryptos are more than 85 percent down from their high in mid-January at about $1,400 and $3.85 respectively.
Bitcoin Cash (BCH), Cardano (ADA), IOTA (MIOTA), Dash, Tron (TRX), Lisk (LSK), NEO, Verge (XVG), and QTUM have lost more than 90 percent of their peak values.
Tether (USDT), the stable coin which is pegged by a dollar is also below $1 at $0.998, down over 17% from January peak at $1.21.
The volatility has dropped to the lowest this year which is not at all encouraging for the investors to sink their feet into crypto waters. Moreover, the daily trading volume in the market has also taken a hit and registering low numbers.
Investing in a Bear Market
Nonetheless, New Wave Capital, a fully registered investment adviser co-founded by Albert Cheng and Stewart Hauser that was launched in July says the customers are still very much interested as many customers have invested more money into crypto. CEO Eric Campbell shares,
“The kind of customers who would sign up during a downturn have more of a long-term approach to investing.”
According to the firm, crypto investment is not for only accredited investors, but for regular people as well i.e. with an annual income range of $200,000 to $1 million net worth.
With a minimum investment of $100, New Wave invests its customers’ funds across 15 cryptocurrencies viz. Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH), Stellar Lumens (XLM), Litecoin LTC), Ethereum Classic (ETC), Zcash (ZEC), OmiseGo (OMG), Golem (GNT), TenX (PAY), Numeraire (NMR), Civic (CVC), Basic Attention Token BAT), and 0x (ZRX).
The options are rebalanced quarterly with the weighting based on an algorithm and a risk survey. As usually happens, in a bear market, bitcoin becomes the most favored cryptocurrency. However, Campbell is most bullish on the cryptocurrencies with a smaller market cap.
“The smaller-cap altcoins have the largest potential, we think. In a bear market, everyone moves away from altcoins and they go back to what has been traditionally more resilient, which is bitcoin. They think it’s a safer asset. But when we come back to another bull market in the future, we think people will go back to altcoins.”
The post Where to Put Your Money in a Bear Crypto Market? appeared first on Coingape.
Source: CoinGape

Million Dollar Question/Tension Rises Again as US Judge Rules ICOs under Securities Law

The US Judge has ruled a fraudulent ICO promoter case to be covered under security law. If this becomes a precedent for future cases, this can stifle the growth of the crypto market.
Fraud ICO covered under securities law
In the ruling of the case against a fraudulent ICO promoter, a federal judge rules that Initial Coin Offerings (ICO) can be covered under the securities law. The criminal case in question has been against Maksim Zaslavskiy who has been defrauding investors by promoting numerous ICOs via two of his companies. REcoin is one of the ICO scams which was marketed to investors as being backed by diamond assets and real estate when in actuality it didn’t.
Zaslavskiy’s lawyers pled for a dismissal in the grounds of ICOs being currencies and not securities but Judge Dearie refused. An excerpt from the hearing states:
“He [Zaslavskiy] argues that the securities laws are unconstitutionality vague as applied. The Government, meanwhile, asserts that the investments made in REcoin and Diamond were “investment contracts,” and thus “securities,” […] and that these laws are not unconstitutionally vague.”
Bloomberg quoted a lawyer at Chapman & Cutler LLP, Gregory Xethalis who has specialization in crypto-related issues:
“It demonstrates that you can’t rely on an argument that the law is insufficiently clear and put your head in the sand. It’s saying that operating in a grey area will not bar the court from hearing cases that allege securities laws violations in ICOs.”
Another excerpt from the ruling states:
“Zaslavskiy’s contrary characterizations are plainly insufficient to bypass regulatory and criminal enforcement of the securities laws. Because the indictment is sufficient under the Constitution and the Federal Rules of Criminal Procedure, and because the law under which Zaslavskiy is charged is not unconstitutionally vague as applied, Zaslavskiy’s motion is denied. The case will proceed to trial.”
However, this ruling by no means is a final word as the ultimate decision rests with the jury. But Judge Dearie’s ruling in this case that ICO is covered under security law can potentially impact the ICO and crypto market at large and could also become a precedent for future cases.
Also, read: Bitcoin Stable, Altcoins Falling Hard Meanwhile Joseph Lubin says “There’s so much Growth Ahead”
Curbing the market potential & growth
A few months back, this year itself, US SEC chairman Jay Clayton has said that SEC won’t be bending any rules for digital assets stating:
“We are not going to do any violence to the traditional definition of a security that has worked for a long time. “There’s no need to change the definition. A token, a digital asset, where I give you my money and you go off and make a venture, and in return for giving you my money I say ‘you can get a return’[;] that is a security and we can regulate that. We regulate the offering of that security and regulate the trading of that security.”
He has also shared at that time:
“If you have an ICO or a stock, and you want to sell it in a private placement, follow the private placement rules. If you want to do any IPO with a token, come see us.”
If regulators move in guns blazing without understanding and ease would end up stifling the crypto market. It needs to be maintained that growth is not jeopardized.
If tokens are indeed recognized and treated as securities, it would lead to barriers to entry as even the wallet and exchange providers would have to get themselves registered. Moreover, it would also present an obstruction to the Investors to make entry and investment into this industry.
In its nascent stage, a free market would help the crypto industry to grow unrestricted. So, it is essential that authorities focus on the underlying technology these tokens and coins are built on and ensure the market is running smoothly along with consumers’ protection.
The post Million Dollar Question/Tension Rises Again as US Judge Rules ICOs under Securities Law appeared first on Coingape.
Source: CoinGape

10K Bitcoin Prediction To Come To Light?

A few outstanding CEOs have been discussing where the crypto market could be heading as we enter the closing months of 2018.
Bobby Lee, the co-founder of BTCC predicted that Bitcoin could surpass the $60,000 mark within the next coming years and that it will reach a total circulation value of $1 trillion.
So, what is the short-term rundown for Bitcoin?
In the world today, there are over 3,600 Bitcoin ATM’s in the world and it is thought that there are four new Bitcoin ATMs being installed every day.
Continue reading 10K Bitcoin Prediction To Come To Light? at Crypto Daily™.
Source: Crypto Daily

Crypto Market Crumbles To New Year-To-Date Lows, Where Does it go Next?

On Thursday, investors awoke to a promising sight — a $300 candle that brought Bitcoin’s price off a $6,150 low — so some thought that the worse for over for the market. But, as some investors were lured into a false sense of security, the market fell even further to establish new year-to-date lows.
There’s Blood In The Streets!
As some like to describe the current state of the cryptocurrency market, “there’s blood on the streets!” Taking a glance at cryptocurrency prices as it stands, it becomes quickly evident that blood of may as well be on the streets of this nascent industry.
On Friday afternoon, Bitcoin unexpectedly fell by over $350 dollars, from $6,425 to a low of $6,025 on the back of an influx of selling volume. This bearish movement quickly cascaded throughout the whole market, with altcoins experiencing a similar decline. With this move, the valuation of all cryptocurrencies has established a new year-to-date low at $209 billion.

As is a common theme in any market, investors did their best to draw connections to announcements and this price drop. Some speculated that this was a direct result of the SEC’s recent verdict to delay a final decision on the fate of the VanEck and SolidX ETF. Many saw this ETF as a long time coming, as cryptocurrency industry leaders have been trying their hand at creating this form of an investment vehicle for years now.
Stepping back, one could note that this move is likely courtesy of an extended downtrend off Bitcoin’s most recent peak at $8,500. As NewsBTC editor and crypto analyst Joseph Young noted in a recent tweet, why should an announcement expected by many lead the market to tank on such a drastic scale?

Why would the delay of a Bitcoin ETF, which was expected by the vast majority, lead the market to tank suddenly by a massive margin? When in fact news hasn't been affecting crypto exchange market as seen in the case of NYSE/ICE?
OTC sell-off or just strong downtrend more likely.
— Joseph Young (@iamjosephyoung) August 8, 2018

Joseph noted that this pullback can be largely attributed to stronger downtrend or a substantial over-the-counter sell-off, which may push crypto prices lower for the time being. But as is the multi-faceted nature of this market, this drop off could also be a result of any combination of technical and fundamental factors.
Many technicians see $5,800 as the next vital stop for Bitcoin, as this specific level has proven to have been a strong line of support in prior bouts of downward price action.
‘The Flip Has Occurred” 
It has become apparent that traders have been doing their best to take advantage of this downtrend, with Nick Cote pointing out that the value of open short positions has eclipsed the value of long positions. While the difference may be of a small margin, this event goes to show that investor sentiment is quickly turning bearish.

The flip has occurred.Shorts surpass longs once again.#bitcoin $btcusd pic.twitter.com/4wSIqCguHi
— Nick Cote – Pizpie (@mBTCPizpie) August 10, 2018

But, while investors have been making bank off short positions, CryptOrca noted that “(a) trap is about to be set and all profits (will get) smoked.”

$BTCUSD #bitcoin
Shorts making serious $ … confidence growing … positions getting bigger … trap about to be set and all profits smoked.
— CryptOrca (@CryptOrca) August 9, 2018

For now, it remains to be seen whether CryptOrca’s call for a bear trap is in motion. But, while the Rothschild family name may make decentralized activists quiver in rage, as Baron Rothschild once said, “the time to buy is when there’s blood in the streets.”
Featured Image From Shutterstock
The post Crypto Market Crumbles To New Year-To-Date Lows, Where Does it go Next? appeared first on NewsBTC.
Source: New feedNewsBTC.com