Weekly, May 7-11 ’18

Casper code release, EOS launches Space Invaders, Bill Gates against BTC, Palihapitiya defends BTC, McAfee's prediction, Fundstrat's prediction, Novogratz partners with Bloomberg, Kohn's opinion, ETH image, Vitalik Buterin about privacy, SEC about understanding crypto, NYSE launches BTC trading desk, Telegram Passport test, Nvidia's revenue, blockchain development in China

  • Casper code v0.1 for Ethereum mainnet is released and will become a hybrid between PoS and PoW systems. This long awaited update for Ethereum mainnet will become a hybrid between Proof-of-Stake and Proof-of-Work systems. Casper solution is designed to help Ethereum solve its problems with scalability, because PoS block generation is much faster.
  • EOS launches a Space Invaders game on its testnet. Anyone can play it. The game generates new private keys for user, thus no worries about the need to expose your own private keys.
  • Bill Gates doesn't like Bitcoin, says he would short it if he could. The only thing that stops him from doing it is that there's no easy way to do it. Tyler Winklevoss respond to Gates, explaining an easy way to short Bitcoin by buying futures contracts on CBOE.
  • Former Facebook executive and venture capitalist Chamath Palihapitiya defends Bitcoin against Buffet's criticism. He says that Bitcoin is like a non-correlated badge to the stock market.
  • John McAfee in a recent interview assures again that Bitcoin will go to $1 million by 2020. He explains that its users base expands quickly and there's a limited number of Bitcoins, thus someday everybody will need a small piece of Bitcoin, boosting the price.
  • Fundstrat, a global research company, has published its prediction saying that the price of Bitcoin could be $64,000 by 2019. The firm's calculations were based on growing hashpower.
  • Mike Novogratz, ex-hedge fund manager of the Fortress Investment Group, launched a new cryptocurrency index, in partnership with Bloomberg LLP. It tracks the performance of Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Dash, Monero, Ethereum Classic, and Zcash.
  • Gary Kohn, who was the chief economic advisor to President Trump in 2017 and 2018, doesn't think that Bitcoin is something big,but he believes that someday the global cryptocurrency will eventually emerge. But he believes that someday the global cryptocurrency will eventually emerge.
  • Bitcoin is still more popular than Elon Musk or lambos in search engines, Ethereum is more popular than Bill Gates or Warren Buffet.
  • Vitalik Buterin claims that privacy could be more important than decentralization in case of private coins. Being an advisor for Zcash, he is sure that decentralization is a luxury, and it’s important only for coin’s long-term survival, but not for its privacy features.
  • Hester Peirce, the US’s SEC Commissioner talked about the importance of understanding crypto before putting forward any regulations. During a speech at the Medici Conference she expresses an idea that innovations must be treated kindly instead of banning them straight away.
  • New York Stock Exchange is going to launch a new trading desk for Bitcoin trade allowing large investors to buy and hold Bitcoin. It would allow large investors to buy and hold Bitcoin, that was impossible for them to do until now.
  • Telegram is testing a new service called Telegram Passport which will be used to keep personal details, copies of IDs, banking statements and other documents to identify users on Telegram Open Network. It will be used to keep personal details, copies of IDs, banking statements and other documents to identify users on Telegram Open Network.
  • Nvidia reveals its $289 million revenue from crypto miners in the first quarter of 2018. The demand was higher than expected and brought in $289 million in revenue.
  • China wants to release blockchain standard by the end of 2019. China officials claim that the development of blockchain technologies may become an important step for China in global technological competition.


3,581 USD


117.53 USD


31.14 USD


0.3212 USD


52.87 USD


122.59 USD


70.17 USD


4.30 USD


45.85 USD

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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

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