Weekend, May 5-6, ’18

Roger Ver, BTC, Warren Buffett, XRP, ETH, Russia, IOTA, Japan, Washington D.C., South Korea

  • The recent lawsuit against bitcoin.com CEO, Roger Ver, has been canceled. It didn't collect enough donations to fund the legal battle that would ensue. One law firm asked for $1 million for its services, and the community raised only 0.39 BTC ($3,760), that now will be refunded.
  • Warren Buffett called crypto 'a very handy tool for charlatans'. At the annual meeting of his company Berkshire Hathaway he explains that buying Bitcoin is not investing. When you buy stocks or a land, you buy something that has an inner value. When you buy Bitcoin, you just hope the next guy pays more.
  • A class action lawsuit has been filed against Ripple Labs, its CEO, and subsidiary. The plaintiff claims that the defendants have violated the federal securities law by selling unregistered XRP.
  • The Enterprise Ethereum Alliance has released its Enterprise Ethereum Architecture Stack, which acts as the next portion of its Enterprise Ethereum specification strategy. It may signal the coming of the era of Web 3.0 as well as next generation of Enterprise Ethereum applications. The EEA includes a lot of Fortune 500 enterprises, startups, academics, and technology vendors that are interested in using Ethereum.
  • The bank of Russia could use Ethereum to build its own payments platform. It will be integrated into SPFS, a local version of the SWIFT system. If the integration turns out to be successful, then, the system are expecting to potentially become ‘more reliable’ than SWIFT itself.
  • Ledger Nano is going to support IOTA soon and to partner with Porsche Digital. It will be the most secure wallet for storing MIOTA. Another important news is that it decided to partner with Porsche Digital to work on Program 4 project. They will be developing a platform intended for smart mobility.
  • The Financial Services Agency of Japan is set to introduce strict but friendly rules. This initiative is taken to set new rules and protect investors from hacks by improving security on exchanges.
  • Washington D.C. has the most developed bitcoin infrastructure in USA. There are 4.49 ATMs for every million inhabitants, and 2.39 establishments for every million citizens that acknowledge bitcoin as a type of payment.
  • Yoon Suk-heun, the new governor of South Korea’s Financial Supervisory Service (FSS), said that he sees some ‘positive aspects’ in cryptocurrencies. He also said that the FSS will be working on crypto regulatory issues with other regulators, thus making crypto more secure.

BTC

3,581 USD
0.06%

ETH

117.53 USD
-0.22%

Related news

Binance Chief CZ: Bitcoin (BTC) Is Oversold, Crypto Still Growing

Bitcoin (BTC) Is Oversold  The most-anticipated crypto-centric event of early-2018, the Binance Blockchain Week in Bitcoin capital Singapore, has arrived, and this nascent community is buzzing. As the event is a Binance-led initiative, the upstart’s C-suiters and foremost executives have made appearances at the conference, coupled with the subsequent hackathon. While talks from Wei Zhou, Binance’s chief financial officer, and his peers were appreciated, Changpeng “CZ” Zhao himself sat down on the conference stage to give a keynote. And as normal, Zhao, one of the crypto sector’s golden children, did his best to prove why this industry is still popping, so to speak. According to an exclusive from Micky, an up-and-coming crypto media outlet, Zhao, formerly an executive at OkEX and Blockchain.com, reminisced about 2017’s monumental rally, coupled with the subsequent collapse. Echoing sentiment touted by his fellow industry executives, the Binance chief executive noted that late-2017 saw the Bitcoin (BTC) market “overshoot” itself, with asset valuations quickly becoming well-overextended. He quipped that much of the bull sentiment could be chalked up to the abundance of hype, touching on the FOMO that consumers experienced, along with the mass of questionable projects. Murad Mahmudov, a Princeton graduate with ambitions to launch a crypto-focused hedge fund, recently touched on this subject matter. Speaking with Tone Vays, a former institutional investor turned Bitcoin diehard, Mahmudov took Zhao’s comments one step further, noting that a majority of altcoins, including Ethereum, EOS, XRP, were overvalued in 2017’s parabolic surge. Mahmudov’s remarks aside, Zhao purportedly went on to say that cryptocurrencies are currently dramatically oversold, and could be in for an eventual recovery. Speaking in a keynote, the industry insider explained that the current bear market has been “overshot,” indicating that he believes assets have fallen too far from their peaks. Backing his claim, CZ, a former Bloomberg employee, noted that there’s more talent in this industry than ever before, adding that the growing number of bonafide conferences and blockchain events is comforting. Likely referring the array of truly innovative blockchain projects coming to life, along with forays from Wall Street and household names, Zhao then added that “the builders are building, [so] we are seeing a lot more development in this space.” And with all that in mind, Zhao came to the conclusion: So I actually think that we’re probably overshooting on the lower side, but again I could be wrong, this is mass technology. However, many aren’t in agreement with Zhao’s statement on the broader market. Per previous reports from Ethereum World News, Mahmudov recently stated that if history rhymes, BTC could fall to as low as $1,700 before another jaw-dropping run. “I Can Go Weeks Without Looking At Crypto Prices” While the Binance head had remarks about the value of cryptocurrencies, he went on to stress that his sole focus isn’t on markets, but rather, this industry’s underlying fabric. He claimed that he’s “very comfortable” with not checking Coin Market Cap or similar sites, even adding that he has and may continue to “go on for weeks without looking at the [Bitcoin] price.” Zhao attributed his disconnected attitude towards wherewithals to Binance’s “focus on building,” and visions that this sector will swell over time. Title Image Courtesy of Marco Verch Via Flickr The post Binance Chief CZ: Bitcoin (BTC) Is Oversold, Crypto Still Growing appeared first on Ethereum World News.
Ethereum World News

Bitcoin (BTC) Price Analysis: Will This Wedge Support Hold?

Bitcoin has formed lower highs and slightly lower lows to create a falling wedge formation on its 4-hour time frame. Support is holding for now but it looks like bears are trying to go for a break lower. The 100 SMA is below the longer-term 200 SMA to confirm that the path of least resistance is to the downside. In other words, the selloff is more likely to resume than to reverse. Also, the gap between the moving averages is widening to reflect stronger selling pressure. Price is below both moving averages to signal the presence of selling pressure also. RSI already dipped to the oversold region to signal exhaustion among sellers and appears to be pulling back up to indicate that buyers might return. In that case, bitcoin could still bounce off support and test the top of the wedge at the $3,800 area again. This lines up with the 200 SMA dynamic inflection point to add to its strength as a ceiling. Stochastic has just reached the oversold region to reflect slower selling pressure and might also be due to turn higher soon. A shallow bullish divergence can be seen as price made lower lows while the oscillator had slightly higher lows since mid-January. Still, a break below support could spur a slide that’s the same size as the wedge formation. This spans $3,600 to around $4,400 so the resulting downtrend could last by at least $800. Similarly a break above the wedge top could spur a rally of the same height. Bitcoin has had a rough couple of weeks as traders appeared to turn their optimism down a notch. As it is, the industry has yet to report positive developments that could sustain the rallies from the start of the year, but the lack of bullish interest despite upside breakouts suggests caution. The post Bitcoin (BTC) Price Analysis: Will This Wedge Support Hold? appeared first on Ethereum World News.
Ethereum World News

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.