Japan holds crypto exchange FISCO on the grounds of anti-social activities

The Financial Service Agency (FSA) took FISCO cryptocurrency exchange to task earlier today for business violation. This development comes as an aftermath of FISCO’s raid that was carried out in February. The raid directed FISCO’s involvement in violating the government’s rules and regulations and for non compliance to the nation’s legal policies. With FISCO, Huobi another […]
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Source: AMB Crypto

CoinMarketCap Forms New Alliance, Announces Stricter Listing Policy

Coinspeaker
CoinMarketCap Forms New Alliance, Announces Stricter Listing Policy
CoinMarketCap Data Accountability and Transparency Alliance has already been joined by Binance, Bittrex, OKEx, Huobi, Liquid, UpBit, IDEX, OceanEX, Gate.io, KuCoin, HitBTC and Bitfinex.
CoinMarketCap Forms New Alliance, Announces Stricter Listing Policy

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Source: CoinSpeaker

Crypto.com Chain [CRO] Token Rise by 50%, Gets Listed On Top Exchange

Crypto.com chain (CRO) Token rose by 45% following its listing on the top 20 exchange of the world, UpBit Exchange. Crypto.com is a Hong Kong-based Blockchain firmed that offers a variety of financial aids built on cryptocurrency: VISA enabled Crypto Credit/Debit Cards, and a secure Wallet and Mobile App.
CRO chain Price at 8 30 UTC 15th March
The crypto.com chain (CRO) is enabling interoperability between cryptocurrencies and FIAT payments. Hence, users can make cryptocurrency payments to any merchant in the world. The cryptocurrency will be converted to the FIAT currency for a minimal cost. CRO chain acts as a bridge currency which finds a wide-scale application with real-world adoption.
Kris Marszalek, co-founder and CEO of Crypto.com, said, “We are very grateful that Upbit has supported our project. The Crypto.com Pay Software Development Kit (SDK) was shipped last week and the payment platform has added 400000 new users this week.”
 

The @cryptocom Chain ($CRO) Token will be listed today on @UPbitExchange! Open-source of @Cryptocom Chain Testnet v0.1 scheduled on Wednesday, March 20th. Read more here – https://t.co/udc2IYExCN pic.twitter.com/9zHqMf9MCV
— Crypto.com (@cryptocom) March 15, 2019

Crypto.com [CRO] Token  Reaction
The price of the crypto.com chain (CRO) increased taking the cue from the listing news. A surge in volume with fresh new entrants was noticed on the hourly chart. The CRO/BTC price rose from 0.00001710 BTC to 0.000028 BTC in an hour recording instantaneous jump of 63% at around 7 00 UTC on 14th March 2019.
1-Hour CRO/BTC chart on Bittrex
Moreover, the RSI indicates over-bought conditions while a ‘hanging man’ single candle-stick seems to be forming to the 1-hour chart of CRO/BTC. Hence, correction might be observed. However, the traders might sustain their positive outlook of CRO pushing the price even further as CRO seems to be riding on bullish sentiments for the past couple of weeks.
The post Crypto.com Chain [CRO] Token Rise by 50%, Gets Listed On Top Exchange appeared first on Coingape.
Source: CoinGape

Crypto Market Wrap: Bitcoin Dominance Falls to 2019 Low, Has Altcoin Season Begun?

Crypto markets being driven by altcoins; Cardano, NEM and CRO Cranking, Bitcoin dominance diminishing.
Market Wrap
Crypto markets are still consolidating as we round off another week. Volume has crept up a little and a slow uptrend has formed over the past couple of days as major crypto assets hit resistance levels. Total market capitalization has made it over $135 billion for the past few hours.
Bitcoin has moved very little over the past 24 hours. BTC hit an intraday high of $3,945 before instantly dumping to $3,900 then slowly building back up to $3,920 where it currently trades. Volume is back over $10 billion and key technical indicators such as MACD and hourly RSI are in the bullish zone.
Ethereum, which has been slowly sliding back all week, has made a percent on the day taking it to $135. The move has taken ETH through the weekly down trend line so further momentum could follow, especially if Bitcoin turns bullish. XRP has made a minor loss on the day dropping back to $0.311.
The top ten is pretty mixed at the time of writing but gains are no more than a percent or so for those in the green. Stellar, which recently flipped Tether for eighth spot, has dumped 4% on the day dropping market cap back to $2 billion. XLM is about to drop back down the charts as it falls to $0.105.
There is a lot more green in the top twenty during today’s Asian trading session. Larger gains have been made by Cardano as ADA climbs 5.5% to $0.049. NEM is also having a big pump with around 9% added on the day to take the token to $0.050. A possible link between NEM Malaysia and Air Asia could be driving the fomo.

During the panel discussion, #NEM Malaysia Investments and Strategy Director Jasmine Ng said while investments to explore blockchain’s implementation in businesses could be costly, she said there is a huge potential upside. Read the full story herehttps://t.co/b6TzgGsiGu
— NEM (@NEMofficial) March 13, 2019

IOTA, NEO and Ethereum Classic have all made over 3% in the past 24 hours as ‘altseason’ gathers momentum.
FOMO: Crypto.com Chain Still Pumping
Crypto.com Chain has continued its epic surge adding another 50% as it nears the top twenty. Over the past week CRO has made an epic 900% pumping from $0.013 to $0.092. Today’s surge has been driving by a listing on Upbit;

The @cryptocom Chain ($CRO) Token will be listed today on @UPbitExchange! Open-source of @Cryptocom Chain Testnet v0.1 scheduled on Wednesday, March 20th. Read more here – https://t.co/udc2IYExCN pic.twitter.com/9zHqMf9MCV
— Crypto.com (@cryptocom) March 15, 2019

Also having a good run today is Lisk and Digitex Futures, both pumping 17% on the day. Crypto.com’s other token, MCO is also up 17% at the moment. REPO is well in the red right now and is the top one hundred’s worst performing altcoin with a dump of 10%, Electroneum is not far behind losing 8% today.
Total market cap 24 hours. Coinmarketcap.com
Total market capitalization has remained over $135 billion adding a billion dollars since the same time yesterday. Daily volume is building and is now at $33 billion as altcoins lead markets at the moment. Bitcoin dominance has fallen to its lowest level this year as it sinks to 50.9% while the altcoins continue to strengthen.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The post Crypto Market Wrap: Bitcoin Dominance Falls to 2019 Low, Has Altcoin Season Begun? appeared first on NewsBTC.
Source: New feedNewsBTC.com

UPbit and Bittrex plan on delisting SALT and Wings-DAO [WINGS] from their platforms

The cryptocurrency market is evolving and with new technologies making their debut in the market, exchanges have started taking a stance against coins that register any illicit activities. Recently Binance, the most prominent cryptocurrency exchange, delisted five altcoins – CLOAK, MOD, SALT, SUB, and WINGS – from its trading platform. Bittrex and UPbit joined the bandwagon as they plan to delist both Salt [SALT] and Wings- DAO [WINGS].
UPbit cited low number of users and marketing effort as the reason behind delisting WINGS in a blog post.
 “Wings Dao is a project based on the Big Data-based Cryptographic Pricing Forecast Market, but currently it is impossible to build data based on less than 2 participants per day of service and it is not possible to operate the product. In addition, efforts to promote business at the project team level are weak. We have designated it as an investment interest stock.”
SALT, on the other hand, is being delisted due to an ongoing investigation by local financial authorities over the unfair distribution of tokens, stated the blog. The Blog mentioned the “Significant stocks specify the reason:”
“Eric Bur Heath (Eric Voorhees) the bar received measures that the non-participation in cryptocurrency unauthorized from the SEC was a member, even about the unfair token distribution made to investigate the recent local financial authorities I’m getting. In consideration of this situation, we have designated it as an investment stock.”
The publication speculated that UPbit’s move of delisting tokens might mean Bittrex delisting the tokens as well, as both exchanges list coins at the same time.
The altcoins were delisted from Binance on account of level and quality of development activity, the commitment of the team to the project, evidence of unethical/fraudulent conduct, among other reasons.
SALT is listed in a dozen exchanges, while WINGS would be tradable on at least four other exchanges if they get delisted from UPbit and Bittrex.
The post UPbit and Bittrex plan on delisting SALT and Wings-DAO [WINGS] from their platforms appeared first on AMBCrypto.
Source: AMB Crypto

Upbit & Bittrex May Delist SALT and WINGS Tokens, Following Binance Footsteps

Following the recent delisting announcement of five crypto tokens by Binance exchange, the other leading cryptocurrency exchanges are likely following the suit.
Binance Delisted Five Tokens – including SALT and WINGS
Coingape had recently reported that Binance cryptocurrency exchange set to delist and suspend the trading of five tokens including CLOAK, MOD, SALT, SUB and WINGS due to the failure of performing as per platform’s criteria. However, the announcement appeared on Binance website on Feb 15 and the delisting occurred on Feb 22, 2019, finally. In particular, the potential delisting by Binance is said to be- ‘team’s commitment towards the project, fraudulent conduct and unlike’.
Such token delisting decision of Binance might have struck a ‘fear point’ among the other exchanges – as such, a South Korean cryptocurrency exchange, Upbit have moved few tokens in a special category of assets that are likely be delisting from the exchange. Few of such affected exchange on Upbit are also including those that are recently delisted from Binance – Blocktix (TIX), SaluS (SLS), Salth (SALT) and the Wings (WINGS). To note, SALT and WINGS are the common tokens in Binance and Upbit that seems not performing as per the standards.
Upbit & Bittrex Likely Delist SALT and WINGS Token
Furthermore, the report also revealed that Upbit exchange would seek clarifications from other listed tokens and if found unsatisfactory – it would likely delist those as well. The potential reason for delisting as mentioned in Upbit’s official website is ‘an investigation by local financial authorities due to unfair distribution of tokens by SALT and WINGS platform’. Moreover, it is important to note that SALT is already delisted from several other exchanges while WINGS is waving in trouble.

[Market] Designation notice of Blocktix(TIX), SaluS(SLS), SALT(SALT), Wings-DAO(WINGS) as Investment Warning Crypto-asset. Please see the link for the additional information: https://t.co/OYGNoS58jE
— Upbit Global (@upbitglobal) February 22, 2019

SALT (SALT)
• Market: SALT / BTC, SALT / ETH
• Reason for Designation
: SEC Prevents Eric Voorhees from participating in unauthorized Crypto-asset projects, and an investigation by local financial authorities has recently been conducted on the unfair distribution of tokens. Consideration of this situation, we have decided designation of investment warning Crypto-asset.
Wings-DAO (WINGS)
• Market: WINGS / BTC
• Reason for Designation
: Wings DAO is a project that has been launched on the Big-Data based Crypto-asset pricing forecast market, but it has not been built yet. In addition, efforts to promote business is low. We have decided to designate this as an investment warning Crypto-asset.
However, Binance’s decision isn’t firmly accepted by team SALT as such they took to Twitter the second day of the announcement and goes on stating that the effort to help shape the new economy without considering the number of exchanges, SALT is listed. It says;

"At SALT, we define success not by the number of exchanges on which we are listed, but by our efforts to help shape this new economy." CEO of SALT Bill Sinclair responds to the @binance delisting. https://t.co/ybx9FUIpB2 pic.twitter.com/ICsOYYBUy9
— SALT (@SALTLending) February 16, 2019

In a similar context, WINGS also announced on Twitter as ‘continue implementing the Wings vision’

WINGS responds to @Binance delisting
"We will continue implementing the Wings vision."https://t.co/lU1tSZ6Ypm
— WINGS Foundation (@wingsplatform) February 17, 2019

What’s your stake on both the tokens? and decision by Binance and Upbit? Share your opinion with us.
The post Upbit & Bittrex May Delist SALT and WINGS Tokens, Following Binance Footsteps appeared first on Coingape.
Source: CoinGape

BitTorrent Token Airdrop Takes Off Today, Here’s What We Know About It

CoinSpeaker

BitTorrent Token Airdrop Takes Off Today, Here’s What We Know About It

Tron will start distributing its BitTorrent Token in airdrops, to its TRX holders through the Binance Launchpad platform. The Tron Foundation plans to airdrop tokens for the next six years up to February 2025.

BitTorrent Token Airdrop Takes Off Today, Here’s What We Know About It

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Source: CoinSpeaker

South Korean cryptocurrency exchanges step up on AML initiatives to counter money laundering practices

The relative anonymity offered by the decentralized protocol of cryptocurrency transactions has despite its advantages, also offered a degree of security to those who engage in acts of money laundering. It is therefore welcome that four South Korean cryptocurrency exchanges are joining hands to take steps against such a possibility.
Despite some built-in checks, hackers, and criminals have been able to subvert the technology driving the cryptocurrency market and launder money for their criminal deeds. It is in light of such rising incidents that four leading South Korean cryptocurrency exchanges namely, Bithumb, Upbit, Corbit and Coinone have come together to implement an AML, or an anti-money laundering initiative which they believe, would put in place sufficient checks and balances discouraging any more cases of such acts.
Key to this AML initiated by the four exchanges is a hotline – established to share real-time information between exchanges and comparing notes on any unusual trading activities or transactions that may be associated with money laundering deeds. These may include those associated with voice phishing, pyramid schemes and other illicit trading activities that are often a front to launder money. Such a system to exchange real-time information on transactions allows exchanges to maintain a register of wallets suspected of illegal activities that can then be used to hone in on money laundering suspects in the future.
Each of these initiatives, the exchanges claim, will help foster a healthier environment for the trading of cryptocurrencies. Further, as reported by South Korea’s Yonhap News Agency, an operator for one of the exchanges said:
“They are now able to instantly check any wrongful transactions made at other exchanges and take necessary measures, such as blocking their own related accounts. The cooperative step against money laundering via cryptocurrencies is expected to boost the soundness of the industry and to better protect consumers.”
While there is no uniform standard to regulation and monitoring of suspicious activities such as money laundering in the cryptocurrency market [Most exchanges have KYC schemes for those holding wallets while some in Japan has self-regulatory guidelines and external bodies], the initiative taken by the four South Korean exchanges is a welcome step in ensuring the safety and security of crypto assets.
The post South Korean cryptocurrency exchanges step up on AML initiatives to counter money laundering practices appeared first on AMBCrypto.
Source: AMB Crypto

South Korean Top Exchanges Join Hands To Fight The Money Laundering Evil

A lot of regulators have had a blind eye towards cryptocurrencies because of its semi-anonymous and decentralized nature which is often used by people to launder monies. Understanding this money laundering evil that is halting regulations in favor of cryptos, four major cryptocurrency exchanges in South Korea have joined hands to tackle this menace.
Exchanges setup Hotline to share information in real time
According to the recent report published in South Korean media, leading South Korean crypto exchanges namely, Bithumb, Upbit, Corbit and Coinone have recently set up a hotline which can be used to share information on a real-time basis on any unusual and suspicious trading or transactions that are related to involve criminal acts, such as voice phishing and pyramid schemes.
With respect to the same an official of one of the operator was quoted saying
“They are now able to instantly check any wrongful transactions made at other exchanges and take necessary measures, such as blocking their own related accounts, “The cooperative step against money laundering via cryptocurrencies is expected to boost the soundness of the industry and to better protect consumers.”
Last year, a lot of government regulators and financial institutions that asked crypto to clean up its act if needs a mainstream acceptance. All major countries, be it the USA, Canada and Russia all have suggested measures to curb money laundering.
With so much of media around speaking of money laundering and cryptocurrencies, one has to still accept the fact that cryptocurrency industry is rapidly pulling up its socks and creating its own codes and conduct. Most exchanges are now following the Know Your Customer (KYC) and AML regulations while a lot of countries like Japan have self-regulatory guidelines and bodies monitoring any kind of activities which are not legal in nature.
While money laundering still remains an evil for cryptocurrencies, steps like setting up a real-time hotline by Korean exchanges is something worth the effort to clean the industry in near future. Steps like these give people and regulators confidence that cryptocurrencies won’t be another tool for people to launder black monies.
What do you think are the steps taken by crypto players good enough to halt money laundering? Do let us know your views on the same.
The post South Korean Top Exchanges Join Hands To Fight The Money Laundering Evil appeared first on Coingape.
Source: CoinGape

Overall Cryptocurrency Market Lands Its Second Day of Recovery

CoinSpeaker

Overall Cryptocurrency Market Lands Its Second Day of Recovery

After literally months of waiting, a cryptocurrency market bounces forward and the majority of cryptos started to gain double figures on the day with a $10 billion injection pumps crypto markets.

Overall Cryptocurrency Market Lands Its Second Day of Recovery

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Source: CoinSpeaker

Only 2 out of 25 Top Crypto Exchanges Report Their True Trading Volumes: Report

CoinSpeaker

Only 2 out of 25 Top Crypto Exchanges Report Their True Trading Volumes: Report

The Blockchain Transparency Institute confirms the long-anticipated fears that most exchanges engage in wash trading. Their December report clears on Binance and Bitfinex only.

Only 2 out of 25 Top Crypto Exchanges Report Their True Trading Volumes: Report

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Source: CoinSpeaker

Major Cryptocurrency Exchanges Reporting False Trading volume data – BTI Report

The ‘Exchange Volumes Report’ for December 2018, has recently been published by The Blockchain Transparency Institute (BTI). And the report very strongly claims that out of twenty-five top cryptocurrency exchanges only two of them report their accurate trade volume.
Whom to trust, BTI or Coinmarketcap?
BTI released its December 2018 report which firmly stands to claim that only two of the largest cryptocurrency exchanges Binance and Bitfinex have been representing their original trade volumes. The Coinmarketcap’s report stated that among the world volume rankings Binance stands at the third rank while Bitfinex is placed at the 21st rank. But the estimates reflects something else in the BTI’s report.
Further, the BTI’s report has placed Upbit at the third place, besides the fact that Coinmarketcap has kept at the 39th rank. The ranking is followed by Kraken, Coinbase, Bitstamp, Bitflyer, Poloneix, Bittrex and Gate.io, which resides at 27th, 34th, 41st, 54th, 62nd, 50th and 55th respectively in the report published by Coinmarketcap.
Thus, as per the report that BTI has released,
“only one of the top twenty exchanges ranked by Coinmarketcap should be actually placed in top 10. Apart from that one exchange, the rest of them do not stand even close to it and are falsely placed”
The latter report claims that only one percent of the trade volume has been genuinely been released by the top 25 ranked crypto exchanges.
Through this part, the report has raised several questions regarding the authenticity of the exchanges and puts a large question mark on their rankings. Being genuine is definitely not a thing that most of the exchanges are while releasing their trade volumes.
The post Major Cryptocurrency Exchanges Reporting False Trading volume data – BTI Report appeared first on Coingape.
Source: CoinGape

Major South Korean Exchanges Expands Globally

Bithumb, Upbit, and Coinone are stepping ahead to expand overseas.

   Bithumb is launching a security token platform in the U.S
   Upbit opened its new trading branch in Singapore with 156 coins and 221 trading pairs
   Coinone launched cryptocurrency exchange in Malta

Bithumb Expands in the U.S
South Korea’s largest crypto exchange, Bithumb partners with U.S fintech firm Seriesone on October 31. The agreement discloses that Bithumb invests in this fintech in South Korea to scale and leverage technology as well as marketing development.
Bithumb and Seriesone will form a joint venture intended to create a new exchange in the United States that will offer a compliant marketplace to trade security tokens, subject to receipt of SEC, FINRA and other applicable regulatory approvals.
Further, the report states that Bithumb was acquired by Bk Global Consortium, a Singapore group led by ‘plastic surgeon. Another South Korea’s largest exchange, BTC Korea Holdings is also linked with the acquisition with shares of 75.99 percent interest.
Upbit Singapore Now Live
Upbit is yet another South Korea’s exchange which goes live newly in Singapore. The new Singaporean exchange will launch on Oct 30, led by Ale Kim, former head of Kakao Indonesia. Presently, the exchange will support only one fiat currency, the Singapore dollar (SGD) but may expand in future.
Verified users can use the exchange as it supports trading in the SGD, BTC, ETH and USDT markets.
However, the Upbit exchange is already in partnership with Bittrex. Upbit, operated by Dunamu Inc, said that they will stand on a strong partnership with Bittrex to keep major mark into the global market.
Coinone Launches CGEX
On Oct 29, Coinone announced the launch of CGEX, the crypto-only exchange where CGEX is not a legal currency but a crypto-2-crypto trading platform. The platform launched in Malta where it allows the zero-percent commission on makers for the first month of launch. It opens with the same trading pairs as the Coinone BTC market.
The post Major South Korean Exchanges Expands Globally appeared first on Coingape.
Source: CoinGape

Report: How Bots on Crypto Exchanges are Manipulating the Price of Bitcoin

As the office of New York Attorney General Barbara D. Underwood said in September, bots on large-scale crypto ecxhanges have been manipulating the price of Bitcoin for many years.
The report released by Attorney General Barbara D. Underwood read:
“When any venue tolerates manipulative or abusive conduct, the integrity of the entire market is at risk.”
But, with the Commodities and Futures Trading Commission (CFTC) cracking down on market manipulation through the usage of illegal software and the US Securities and Exchange Commission (SEC) punishing exchanges that engage in unregistered distribution of securities, experts believe the usage of illegal bots across global crypto exchanges will eventually subside.
Scale of Impact on Crypto
Speaking to The Wall Street Journal, CoinList co-founder and president Andy Bromberg stated that illicit bot trading and market manipulation is rampant in the cryptocurrency exchange market.
Although major markets like Japan and South Korea have newly imposed strict regulations to govern crypto trading platforms, most of the policies pertain to money laundering and security. The government of South Korea has said that it will oversee digital asset trading platforms as strictly regulated financial institutions potentially by the end of 2018, but the legislation still needs to be reviewed by the National Assembly of South Korea.
As of current, the vast majority of exchanges remain lightly regulated, even in developed cryptocurrency markets like the US, Japan, and South Korea. No regulations punish or discourage the usage of abusive strategies and take advantage of the poorly regulated crypto market.
“This sort of activity is rampant in the market right now,” Bromberg said, emphasizing that bot trading is difficult to restrict and prohibit.
Stefan Qin, the managing partner of $80 million cryptocurrency hedge fund Virgil Capital, told WSJ that it uses legitimate bots on 12 exchanges but was forced to build various functions to combat illegal activities and illegitimate bots.
“We’ve had to build in error-handling functions to check for hostile and potentially illegal activities. Such is the Wild West of crypto,” he said.
Norwegean crypto trader Kjetil Eilertsen said that his program called Quatloo Trader is the best market-manipulation tool in the space and that since the market cannot restrict usage of bots, it should allow bot creators to distribute the software to casual traders to create a level playing field.
“If everybody can manipulate, then nobody is manipulating. You can’t ban anything from people who are dedicated to doing something,” Eilertsen said.
Some Exchanges are Even Encouraging it
Last month, cryptocurrency trader and analyst Alex Kruger exposed a promotion on Bithumb, South Korea’s second largest cryptocurrency exchange behind Upbit, which encouraged traders to engage in wash trading and inflate the volume of Bithumb.
“There currently are $250 million [in] fake volume traded at [the] Korean crypto exchange Bithumb, every day at 11 a.m. Korean Time, since Aug. 25. Bithumb offers 120 percent payback of trading fees as an airdrop. Trading fees are 0.15 percent taker. To collect the full KRW 1 billion rebate, a wash trader must thus trade KRW 278 billion. That is $250 million in daily fake volume. Notice how 31K Bitcoin are traded at exactly 11 a.m,” Kruger explained.
Ultimately, it was a win-win situation for both traders and the exchange because investors were able to generate profit off of creating fake daily trading volume and Bithumb benefited from it as cryptocurrency market data providers listed the volume as real volume, which encouraged traders in the space to use the exchange.
The post Report: How Bots on Crypto Exchanges are Manipulating the Price of Bitcoin appeared first on NewsBTC.
Source: New feedNewsBTC.com

Is the Bitcoin Sell-Off Over? Technical Signs and Major Investors Believe so

Earlier this week, Lily Katz at Bloomberg reported that the GTI VERA Convergence Divergence Indicator suggests the Bitcoin downtrend is over. Experts have echoed a similar sentiment, expecting the bear market of the dominant cryptocurrency to come to an end in the upcoming months.
According to Katz, the GTI VERA Convergence Divergence, which analyzes trend reversals and exhaustion with the traditional Moving Average Convergence Divergence (MACD) has historically been an accurate indicator or long-term trend reversal.
For instance, earlier this year, when the GTI VERA Convergence Divergence signalled a trend reversal, the price of Bitcoin surged 39 percent the very next month.
Experts and Major Investors Believe the Bear Market is Coming to an End
In an interview with NewsBTC, Yoni Assia, the CEO at leading multi-asset trading platform eToro that has more than eight million users, said that the correction of Bitcoin in 2018 was healthy for the long-term growth of the crypto market.
More importantly, as Mati Greenspan said, a senior market analyst at eToro, the demand for Bitcoin at large cryptocurrency exchanges and trading platforms has not declined throughout the bear market.

Assia shared the sentiment of Greenspan, stating:
“Despite these adjustments, however, we have not seen a significant dip in demand for digital assets. As the market matures, more investors are expanding their portfolios to include cryptos, while new investors are opening portfolios to trade crypto assets. We do not expect this demand to slow down any time soon, as more people recognize the potential of crypto assets.”
On CNBC Crypto Trader, during an interview with Ran Neuner, ShapeShift CEO Erik Voorhees also shared his optimism towards the trend of the cryptocurrency market, noting that while the bear market of Bitcoin could continue in the short-term, the lower price range presents a decent opportunity for newcomers to buy into the market.
Due to the sheer scale of the drop in the price of major cryptocurrencies, it may require a few months of stability and volatility in the $6,000 to $9,000 region before initiating a large rally on the upside. But, most analysts and investors generally agree that the bear market is gradually coming to an end, with demand rising from investors in the broader financial market.
“I don’t expect it (bear market) to end soon, although I do think that the rate of collapse has slowed considerably. Generally in these bubbles, after you go through several months of a downtrend you hang out in a range for a while… But I think we are done with a majority of the collapse,” Voorhees said.
Exchanges Performing Well
Earlier this month, NewsBTC reported that despite the bear market, cryptocurrency exchanges have been demonstrating large volumes and high profit margins, luring in companies in Wall Street and the traditional finance sector into the cryptocurrency market.
UPbit, South Korea’s biggest cryptocurrency exchange, which suffered the most in the 80 percent correction of 2018 due to the 30 to 40 percent “Kimchi Premium” in the cryptocurrency market of South Korea, has recorded a profit of $100 million in the third quarter of 2018.
With solid volumes of cryptocurrency exchanges and demand for digital assets still in tact, a recovery by the end of 2018 is becoming more likely.
The post Is the Bitcoin Sell-Off Over? Technical Signs and Major Investors Believe so appeared first on NewsBTC.
Source: New feedNewsBTC.com