Shine Bright: Blockchain to Track Diamonds, Crypto to Affect Politics (Daily Digest, Oct 30)

US voters equate crypto with fiat, Alrosa joins blockchain, Bitstamp is acquired by NXMH, Coincheck has a great revenue decline, Phil Chen presents HTC Exodus 1, StarkWare receives huge investment

  • StarkWare Industries got 30M investment not from ICO, but from huge investors. StarWare develops zk-stark solutions for blockchains and cryptocurrencies. Zero-knowledge proofs are believed by some to be a key primitive for blockchain scalability and privacy. Zk-starks, unlike zk-snarks, have no need for a trusted setup and do not rely on elliptic curves, which means that they have a much better chance against attackers with quantum computers, should those come around in the nearest future. However, zk-starks come with a big downside the size of proofs which can go up to as high as a few hundred kilobytes. Sometimes the cost will not be worth it, but at other times, particularly in the context of public blockchain applications where the need for trust minimization is high, it may well be.
  • BTC is trading at the price of $6,309, ETH slightly drops to $196.11 at the moment of writing.


8,744 USD


272.72 USD

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Bitcoin Price Analysis: BTC Shows Strength Following Bakkt’s Launch News, Last Buy-Opportunity Below $10,000?

In our last Bitcoin price analysis, we mentioned the ‘last hope’ for Bitcoin. Good news for the bulls: the Doji candle on the 4-hour chart maintained the price above the significant 4-hour ascending trend-line (marked in bold yellow). In the following day, we saw Bitcoin retesting the line, again getting supported upon the significant news coming upon Bakkt launch date. The news could be a game-changer for Bitcoin, in its way for long-term mass adoption. Bitcoin had recovered nicely from the immediate risk; however, until producing a higher-high on the daily chart, which Bitcoin failed to do at its last attempt around $12,000, the situation is still neutral and fragile in the short-term. Another thing to note is the range Bitcoin is trading at: from above – the MA-200 (marked by light green on the 4-hour chart), while from below is the 100-days moving average line (marked white on the daily chart) along with the above mentioned ascending trend-line. Total Market Cap: $268 billion Bitcoin Market Cap: $185 billion BTC Dominance Index: 69.1% (Dominance again close to 70%) *Data by CoinGecko Key Levels to Watch – Support/Resistance: The nearby resistance now lies around $10,550 (the MA-200 light-green line on the 4-hour chart). Further above is $10,800 along with the 50-days moving average line (marked purple). In case of a break-up, we can expect $11,000 – $11,200 to be the next significant short-term resistance level. The last also contains the descending trend-line, which was started forming amid the 2019 high at $13,880. From below, the current area of $10,200 – $10,300 is the first line of support. Further below is $10,000 and $9,800 (the 100-days moving average line). Below lies $9600 and $9400 (the weekly low). – Daily chart’s RSI: The RSI indicator had found support by the 40 horizontal line. As of now, the RSI lies around 45, still below the 50 significant area, which is the bullish area. However, positive remarks might come from the Stochastic RSI oscillator, which had made a cross-over at the oversold territory and about to enter the bullish zone. – Trading Volume: The reversal candle from two days ago turned out to be the highest volume day since July 18. This could be a bullish sign for a possible green continuation. BTC/USD BitStamp 4-Hour Chart BTC/USD BitStamp 1-Day Chart The post Bitcoin Price Analysis: BTC Shows Strength Following Bakkt’s Launch News, Last Buy-Opportunity Below $10,000? appeared first on CryptoPotato.

Mid-Week Bitcoin Dump Not Caused By Chinese Ponzi: Researcher

Wednesday’s Bitcoin flash crash was not due to a sell-off from Chinese ponzi scam, PlusToken, a researcher has claimed. Sid Shekhar, the co-founder of London-based, TokenAnalyst, said the disputed coins were moved earlier on the blockchain. We Can All Relax, It’s A False Alarm As Bitcoinist reported on Thursday, cryptocurrency influencer, Dovey Wan, brought the $3 billion scam to the attention of the international crypto-community on Twitter. Analysis from Peckshield suggested that about 1000BTC from PlusToken had flowed into Huobi and Bittrex since July. The reporting of this just after the crash which saw bitcoin price dip back into four figures led many to correlate the two. However, the TokenAnalyst review shows that very few PlusToken-associated addresses held any significant number of bitcoin and moved them recently. According to Shekhar: It doesn’t look like any of these addresses are exchange owned. So that was enlightening. We’ll keep an eye on this to see if they do move the 100s of millions into exchanges at some point. But Can We Really? The reason that very few Bitcoin addresses associated with the scam contained much in the way of coins, was because they had already moved. TokenAnalyst did find thousands of bitcoin on the ledger belonging to the PlusToken team. But much of this money filtered into Bitcoin mixing services about a month ago. This correlates with Peckshield’s data that the coins started moving nearly-July. Its findings were only that about 1000BTC flowed into exchanges. The rest, according to the new research by TokenAnalyst, flowed into mixers. Something caused the market to crash on Wednesday. Wan tweeted of unconfirmed reports by Chinese traders that someone was continually dumping 100BTC batches onto Binance. It is not inconceivable that the freshly mixed coins from the PlusToken scam were being pushed onto exchanges for conversion into fiat. But of course, we always want a nice simple explanation for any market movement. Something that we can point to, and sagely say… “ah, yes. this was the reason.” because there isn’t a lot of comfort in “just because…” What’s your theory for the recent bitcoin price dump? Let us know below!  Image via Bitcoinist Image Library The post Mid-Week Bitcoin Dump Not Caused By Chinese Ponzi: Researcher appeared first on

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