- Today’s main news: Telegram to debut test version of TON. Bithumb opens Ethereum-based decentralized exchange. Coinbase opens Dublin office. Europe is killing it in crypto. People prefer XRP over BTC, LTC, and ETH.
- Today’s main analysis: Is Bitcoin headed toward a 2019 rally? The Bitcoin ride is just starting.
- Today’s thought-provoking articles: Colleges are baffled by Bitcoin donations. The Tether death spiral. ICO roundups are the biggest trend in crowdfunding. How crypto traders gamed Coinbase.
- Indicators suggest Bitcoin price rally in 2019. I’m not sure anyone can rely on indicators, especially for forecasts that far out. But this is an interesting read nonetheless.
- The Bitcoin ride is just starting. Another interesting analysis using Elliot Waves.
- Colleges are baffled by Bitcoin donations. And so should be the rest of us.
- Mike Novogratz says institutions will take Bitcoin to new highs in 2019.
- The low volatility of Litecoin and Bitcoin.
- Tron has deployed 90 smart contracts.
- Nano is 300% faster than Ripple.
- How much crypto should you own?
- Will Fidelity make crypto trading popular?
- What millennials need to know about crypto exchanges.
- Private DTCC blockchain can handle equity trade volumes.
- Civil cancels ICO.
- Yale invests in cryptocurrency.
- Steve Wozniak joins as co-founder of EQUI Global.
- Savvy crypto traders gamed Coinbase for 35% payoff. I think this was pretty much self-evident.
- ICO roundups are the biggest trend in crowdfunding. Outstanding infographic.
- The Tether death spiral. Will Tether kill Bitcoin? I doubt it. Bitcoin did just fine without it before Tether came along. Will Tether kill itself? Maybe, but who knows?
- Bitcoin steady, Tether at a discount.
- Tether regains.
- IOTA introduces initial service offerings.
- DocuSign to integrate Ethereum.
- Most successful weird crypto projects so far.
- Coinbase opening a Dublin office. Probably a smart move.
- Europe is killing it with crypto. The story is in the details.
- Binance CEO comments on Tether.
- Ethereum Foundation releases fourth wave of grants.
- Bithumb opens Ethereum-based decentralized exchange.
- Line lists on Bitbox.
- Indian crypto fraud case reaches impasse.
- Crypto and the big blockchain lie.
- KuCoin temporarily suspends Tether deposits and withdrawals.
- Russia: Telegram to debut test version of TON soon.
- United Kingdom: Wirex polls shows people prefer XRP over BTC, LTC, and ETH. This is not a scientific poll, and it makes me wonder why? What would be the appeal of XRP for random Twitter users?
- Australia: New South Wales mandates blockchain for land registry by 2019.
- China: ViaBTC captures $30 million in ICO.
- Russia: Alleged hacker/Bitcoin miner faces up to five years in prison.
- China: Cobinhood partners with simplyBrand.
- United States
- Do These Indicators Suggest a Bitcoin Price Rally Early in 2019? (CoinDesk), Rated: AAA
- Bitcoin – Hold On – The Ride’s Just Starting! (Seeking Alpha), Rated: AAA
- Mike Novogratz: Institutions Will Get Into Bitcoin in Q1-Q2 2019 Bringing ‘New Highs’ (CoinTelegraph), Rated: A
- Colleges Are Baffled by Bitcoin Donations (Bloomberg), Rated: AAA
- The low volatility of Litecoin and Bitcoin on the spotlight (Global Coin Report), Rated: A
- Tron (TRX) Developer Update: 90 Smart Contracts Deployed and Counting (Ethereum World News), Rated: A
- Nano (NANO): The Overlooked Crypto 300% Faster Than Ripple (XRP) (Blocklr), Rated: A
- How much cryptocurrency should you own? (Quartz), Rated: A
- Will Fidelity Be The Catalyst That Brings Crypto Trading To The Masses? (Forbes), Rated: A
- What Millennials Need To Know About Cryptocurrency Exchanges (Forbes), Rated: A
- DTCC Shows Private Blockchain Can Handle US Equity Trade Volumes (Forbes), Rated: A
- Civil, a Blockchain-Media Startup, Cancels Its ICO, Offering a Full Refund to Those Who Bought Tokens (Fortune), Rated: A
- Report reveals that Yale invests in cryptocurrency (Yale Daily News), Rated: B
- Apple’s Steve Wozniak Joins Blockchain-Powered VC Firm As Co-Founder (NewsBTC), Rated: B
- How Savvy Crypto Traders Gamed Coinbase’s Latest Listing for a 35% Payday (CoinDesk), Rated: AAA
- The Tether Death Spiral (Seeking Alpha), Rated: AAA
- Bitcoin steady, Tether still trading at a discount (MarketWatch), Rated: A
- Tether Regains Ground (Bitcoin.com), Rated: A
- IOTA Introduces the ISO: A New Crypto Crowdfunding Model (Bitrates), Rated: A
- ICO Roundups: The Biggest Trend In Crowdfunding [Infographic] (ZyCrypto), Rated: AAA
- DocuSign to Integrate the Blockchain of Ethereum into Its Transaction and Signature Management Service (Smartereum), Rated: A
- The weirdest, most successful cryptocurrency projects so far (Big Think), Rated: A
- European Union
- Crypto firm Coinbase is opening a Dublin office as ‘Plan B’ for Brexit (Business Insider), Rated: AAA
- Europe is killing it in crypto (Markets Insider), Rated: AAA
- Binance CEO comments on Tether after exchange pauses its withdrawals (BCFocus), Rated: A
- Ethereum Foundation Releases Fourth Wave of Grants (CoinTelegraph), Rated: A
- United Kingdom
- Wirex poll reveals people’s preference of XRP over BTC, LTC, ETH (Chepicap), Rated: AAA
- ViaBTC mining pool captures $ 30M in ICO—and that’s a bad thing (CoinGeek), Rated: AAA
- Cobinhood Partners With E-Commerce Verification Platform simplyBrand Support ICO (Crowdfund Insider), Rated: B
- Australian State of New South Wales Mandates Land Registry Shift to Blockchain by 2019 (CoinTelegraph), Rated: A
- Bithumb Opens Ethereum-Based Decentralized Exchange (Cryptovest), Rated: AAA
- Line lists cryptocurrency on Bitbox exchange (ZDNet), Rated: A
- Indian Cryptocurrency Fraud Case Reaches Impasse (Ethereum World News), Rated: A
- Cryptocurrencies and the big blockchain lie (livemint), Rated: A
- KuCoin Crypto Exchange Temporarily Suspends Tether (USDT) Withdrawals and Deposits (Bitcoin Exchange Guide), Rated: A
- Telegram to Debut ‘Test Version’ of Blockchain Platform TON ‘This Autumn,’ Say Investors (CoinTelegraph), Rated: AAA
- Russian Accused of Hacking Public Servers to Mine Bitcoin Faces up to Five Years in Prison (CoinTelegraph), Rated: A
Do These Indicators Suggest a Bitcoin Price Rally Early in 2019? (CoinDesk), Rated: AAA
Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization has enjoyed a staggering price increase in excess of 150,000 percent since it was first listed on exchanges back in July 2010.
From a technical perspective, the relationship BTC has with traditional charting patterns is occasionally counter-intuitive to what one would normally expect.
The case for bitcoin’s bullish breakout
Bitcoin’s relationship with the 200-day moving average (DMA) and descending triangle pattern has been significant.
The case for bitcoin’s bearish breakdowns
On the flipside, bitcoin has been staring down a bear market for the last 7 months and has dropped below the significant 200-DMA beginning Feb. 5.
If price does break down as it technically should, there is a prior resistance and support zone in the $4,900 to $5,400 that may once again offer support to the falling price.
Bitcoin – Hold On – The Ride’s Just Starting! (Seeking Alpha), Rated: AAA
Bitcoin (BTC-USD) may have dropped to the point that some say this cryptocurrency has run its course, but the party for those who take this sector seriously is just getting started.
Attempting to use any kind of fundamental approach to reliably forecast price targets for Bitcoin or any cryptocurrency is nigh impossible.
Having used Elliott Wave and Fibonacci for many years to accurately forecast price targets of financial instruments like currencies, equities, crude oil, and virtually any other financial instrument you can imagine, there is no better set of tools to measure investor sentiment, and thus price targets, with Bitcoin and other cryptocurrencies. Elliott Wave is principally the study of mass human sentiment, and as such, Bitcoin and other cryptocurrencies are ideally suited to this analysis technique.
Mike Novogratz: Institutions Will Get Into Bitcoin in Q1-Q2 2019 Bringing ‘New Highs’ (CoinTelegraph), Rated: A
Colleges Are Baffled by Bitcoin Donations (Bloomberg), Rated: AAA
The University of Puget Sound got an offer it wasn’t sure how to accept. A recent graduate had hit the jackpot and wanted to make a donation to the school. In Bitcoin.
Colleges have long wrestled with accepting atypical donations, such as art or shares in a family business, that can muddle their investment portfolios. The gifts may raise accounting questions, complicate tax filings, or require special storage or security. Bitcoin—unregulated, notoriously volatile, and sometimes stolen by hackers—raised every one of those concerns. But back in 2014, the private liberal arts college in Tacoma, Wash., happened to have a number of alumni pioneering cryptocurrencies and generating small fortunes. So the school, with a $370 million endowment, needed to do some research before reaching a decision.
The low volatility of Litecoin and Bitcoin on the spotlight (Global Coin Report), Rated: A
What the trends literally mean is that there is an accountable resistance with both Bitcoin and Litecoin contrary to the expectations of many who were anticipating at least some positive movement after the sharp market rise last week.
However, that doesn’t mean that there won’t be a breakout any time soon. There are always two options for investors to make money; short-term or long-term; hence, the opportunity is still there if one has the right mindset.
The patterns in the Bitcoin and Litecoin charts do show that we are getting out of the bear market and probably heading into the accumulation phase.
Tron (TRX) Developer Update: 90 Smart Contracts Deployed and Counting (Ethereum World News), Rated: A
The activation of the Tron (TRX) Virtual Machine last week was particularly important in the sense that developers could now develop smart contracts that would power Decentralized Applications on the network. By the 13th of October, reports had indicated that there had been 82 smart contracts deployed on the Tron platform. These contracts had been called 40,658 times at the time of the report.
Nano (NANO): The Overlooked Crypto 300% Faster Than Ripple (XRP) (Blocklr), Rated: A
Ripple (XRP) has a reputation for being one of the fastest cryptocurrencies, but the average Nano (NANO) transaction takes 3 seconds—7 seconds faster than XRP. What is Nano and why is it the fastest cryptocurrency on Binance, significantly faster than XRP?
The average Nano transaction takes 3 seconds. More specifically, it takes the network 3 seconds to confirm a transaction on a block. According to Bitcoin Kit, this makes it the fastest cryptocurrency on Binance, a cryptocurrency exchange with over 2,000 listings.
How much cryptocurrency should you own? (Quartz), Rated: A
You want some extra risk to spice things up
Investing in bitcoin is speculative. It may surge or it may crash.
Some argue bitcoin is valuable because it is uncorrelated with the stock market, so it adds some diversification and reduces risk. There are reasons to be skeptical of this argument. A reliable measure of correlation takes decades of data, and bitcoin has only been around since 2009.
- Ideal portfolio allocation: 5% to 10%, depending on how much risk you can stomach
You fear a world where everything falls apart but we still have lots of computing power
- Ideal portfolio allocation: 0%, because you should save your money for therapy (and canned goods)
You are really into privacy or want to do something illicit
Vendors on the dark websometimes complain that bitcoin volatility can wipe out their profits.
- Ideal portfolio allocation: 30% to 40%, depending on the volume of your transactions
Someone is blackmailing you or you want to be prepared for such a thing
- Ideal portfolio allocation: 1% to 5%, depending on how likely you think it is you’ll be attacked
Will Fidelity Be The Catalyst That Brings Crypto Trading To The Masses? (Forbes), Rated: A
Cryptocurrencies have had a rough go of it this year, with the prices of the leading digital tokens including bitcoin and ethereum plummeting. The knock on virtual currency: it has failed to take off with the masses as regulators have increased scrutiny and retailers haven’t embraced it as a payment method.
Fidelity Investments, however, could play a role in changing all that.
What Millennials Need To Know About Cryptocurrency Exchanges (Forbes), Rated: A
There are two types of currency exchange rates—the spot exchange rate, or interbank rate, and the nominal exchange rate. From a consumer and traveler’s perspective, we often refer to the latter. The way in which we read and define an exchange rate is similar to how we measure cryptocurrency values against our own currency.
With over 1,600 cryptocurrencies in existence, there are only a select few exchanges available, allowing holders to convert their fiat or paper currency into the crypto-base currency (“base currency”) they desire (Bitcoin, Ether, or Litecoin). Consequently, some coins can only be purchased by using these bases, and cannot be bought using a domestic currency, such as the USD.
DTCC Shows Private Blockchain Can Handle US Equity Trade Volumes (Forbes), Rated: A
A new DTCC study has shown that distributed ledger technology, aka blockchain, can scale to meet the volumes of the U.S. equity market — more than 100 million trades a day. The study, which was conducted by Accenture with support from technology firms Digital Asset and R3, showed a distributed ledger could process 6,300 trades per second continuously for five hours to meet the 115,000,000 daily trades at peak rates in the markets. It chose Accenture after an RFP showed the company had the best knowledge and toolset for the study.
Civil, a Blockchain-Media Startup, Cancels Its ICO, Offering a Full Refund to Those Who Bought Tokens (Fortune), Rated: A
Civil had raised $1.3 million from 681 investors, with $1.1 million coming from ConsenSys, a seed investor in Civil. On Tuesday, Civil said its was canceling the token sale and would offer full refunds to those who had bought tokens.
Report reveals that Yale invests in cryptocurrency (Yale Daily News), Rated: B
Joining a growing market, Yale is investing in cryptocurrency funds, according to a Bloomberg report published earlier this month.
The Yale Investments Office has allegedly backed two Silicon Valley cryptocurrency funds, Paradigm and a16z crypto.
Apple’s Steve Wozniak Joins Blockchain-Powered VC Firm As Co-Founder (NewsBTC), Rated: B
EQUI Global, a venture capital fund built on a blockchain-powered back end, has announced Steve Wozniak as a co-founder.
How Savvy Crypto Traders Gamed Coinbase’s Latest Listing for a 35% Payday (CoinDesk), Rated: AAA
Data shows prices for ZRX began to surge on other exchanges a few minutes before Coinbase made its official public announcement at 17:00 UTC. But while there were whispers online about the possibility of insider trading, a charge the exchange has denied in the past, there’s another explanation that is perhaps more plausible.
Savvy traders may have been simply making use of well-timed trading bots, computer programs that automatically scout technical price charts and exchange APIs to identify actionable and profitable developments. The bots can then either immediately act on their findings by placing a trade, or send a signal to their users in the form of a message via social media.
Altcoinnotify, for example, is a bot used only for signals only, and is free on Twitter. On the other hand, more expansive and customizable bots like Cryptohopper, which are capable of placing instantaneous trades based on multiple signals, can cost $20 to $99 per month.
The Tether Death Spiral (Seeking Alpha), Rated: AAA
First, Tether adds liquidity to the market, but it’s based on a lie. They’re supposed to have $2.5 billion in the bank, but do they? These funds are how they control the price of Tether, keeping it pegged to the US dollar. In other words, Tether should always be worth $1.00.
But, that is no longer the case.
Dubious exchange Bitfinex is the largest shareholder (the owner) of Tether. Bitfinex does not force KYC/AML. They are hiding behind a shell corporation offshore so they can avoid having to follow these rules. However, there are still people in the USA using the exchange.
Bitcoin steady, Tether still trading at a discount (MarketWatch), Rated: A
The price of Tether continues to trade at a discount around 98 cents on Tuesday, suggesting concerns remain for the embattled stablecoin a day after the price, which is traditionally on par with one U.S. dollar fell below 90 cents.
Furthermore, the price of bitcoin on the Bitfinex exchange, the company that shares common management with Tether, is still trading at a significant premium, around $274, or 4.2%. per coin on Tuesday.
The price of coins other than bitcoin, commonly referred to as altcoins, are moving higher in Tuesday trading. Ether, ETHUSD, -0.22% the coin that runs on the ethereum network, was up 1.3% at $203.96, Bitcoin Cash BCHUSD, -1.12% was up 0.6% to $447.20, LitecoinLTCUSD, -0.85% was off 0.8% to $52.86 and XRP XRPUSD, -0.45% traded at 45.9 cents, up 6.3%.
Tether Regains Ground (Bitcoin.com), Rated: A
The chart below isn’t your average Binance altcoin experiencing some characteristic volatility. It is in fact that of two supposed stablecoins trading against one another: tether (USDT) and trueusd (TUSD). Following yesterday’s shenanigans, which saw tether slip to around $0.88 on some exchanges, the token has regained a little ground and now sits at $0.95, according to Blockmodo.
IOTA Introduces the ISO: A New Crypto Crowdfunding Model (Bitrates), Rated: A
IOTA’s TomTom is changing the way crypto projects carry out fundraisers by introducing Initial Service Offerings. Will this benefit investors?
ICO Roundups: The Biggest Trend In Crowdfunding [Infographic] (ZyCrypto), Rated: AAA
DocuSign to Integrate the Blockchain of Ethereum into Its Transaction and Signature Management Service (Smartereum), Rated: A
Recently, DocuSign – a San Francisco-based firm – announced its intent to adopt Ethereum blockchain. DocuSign runs an electronic transaction and signature management service. The firm wants to integrate the blockchain of Ethereum into its services.
The weirdest, most successful cryptocurrency projects so far (Big Think), Rated: A
Cryptokitties are collectible digital artworks of cats. While this may seem just like a digital version of Pokemon, the launch of Cryptokitties represented a significant step forward in the development of blockchain – the ERC721 token. This was the first non-fungible token, meaning it could not be exchanged for another token of the same value. Each Cryptokitty has its own unique assets and can even be “bred” with other Cryptokitties to combine the assets from two tokens into a new one.
Putincoin was developed “to pay tribute to the people and president of one of the largest and greatest countries in the world – Russia!”
Only 250,000 Unobtanium coins will ever go into distribution, so the gimmick here is just that the coins are difficult to obtain. While this may seem like a flimsy premise, it appears to be working. Unlike many other cryptocurrencies, Unobtanium has seen a net increase in value over the course of 2018. At the height of the crypto boom during the end of 2017, it had a market cap of over $75m.
Crypto firm Coinbase is opening a Dublin office as ‘Plan B’ for Brexit (Business Insider), Rated: AAA
The exchange says it is opening the Dublin office partly to serve rising demand from the European Union, but also as a means of ensuring it can keep all of its operations going in the event of no deal being reached between Britain and the EU during Brexit talks.
Europe is killing it in crypto (Markets Insider), Rated: AAA
- The value of “token sales” in Europe this year is about $4.1 billion, far above the $2.6 billion in the US and $2.3 billion raised in Asia.
Binance CEO comments on Tether after exchange pauses its withdrawals (BCFocus), Rated: A
On Tuesday, Binance CEO Changpeng Zhao (CZ) tweeted, “1 USDT withdraw on Binance is not the issue. 2 Our USDT reserve is public, can be seen on the blockchain. 3 We have same info as the public. 4 We don’t comment on coins. Anything we say is over/misinterpreted. 5 We stay neutral, and we SIMPLY PROVIDE CHOICES.”
Interestingly, Binance is one the largest holders of USDT tokens, with over 768.5 million in its reserves, according to a wallet richlist posted on Tether.to.
Ethereum Foundation Releases Fourth Wave of Grants (CoinTelegraph), Rated: A
According to the release, the total amount of awards is over $3 million. The biggest grants worth $500,000 were given to Prysmatic Labs and Status. Both companies are working to develop the Ethereum 2.0 ecosystem first announcedby co-founder Vitalik Buterin in November 2017.
Wirex poll reveals people’s preference of XRP over BTC, LTC, ETH (Chepicap), Rated: AAA
As of press time, 3,679 Twitter users have voted, with 77% choose XRP, 12% recommend BTC, 7% picks LTC, and only 4% think that Meilleur should use ETH to get from NYC to Vegas.
ViaBTC mining pool captures $ 30M in ICO—and that’s a bad thing (CoinGeek), Rated: AAA
A couple of days ago, word got around that one of the world’s largest cryptocurrency mining pools had conducted an initial coin offering (ICO) and had raised $30 million in a little more than two hours. It was the first time an ICO had been held on the Bitcoin BCH network and should be seen more as a failure than a success.
Cobinhood Partners With E-Commerce Verification Platform simplyBrand Support ICO (Crowdfund Insider), Rated: B
Cobinhood, a cryptocurrency service platform and zero-fee exchange endorsed by Richard Sherman, announced on Tuesday it has teamed up with e-commerce verification platform simplyBrand to support and advise the launch of the company’s initial coin offering (ICO). According to Cobinhood, simplyBrand is an inclusive ecosystem combining artificial intelligence, blockchain, and crowdsourcing to eliminate counterfeit products in digital commerce.
Australian State of New South Wales Mandates Land Registry Shift to Blockchain by 2019 (CoinTelegraph), Rated: A
Bithumb Opens Ethereum-Based Decentralized Exchange (Cryptovest), Rated: AAA
South Korea’s Bithumb exchange, one of the world’s largest crypto markets, has launched its decentralized exchange Bithumb DEX in Hong Kong by implementing the Ethereum blockchain. The platform, went live on Monday several days after BK Global Consortium acquired the majority stake in Bithumb.
The new DEX utilizes Ethereum blockchain as an underlying software, and therefore the trading venue will only list coins based on that distributed ledger technology (DLT). Dent (DENT), aelf (ELF), One Root Network (RNT), POA20 (POA), and Ziliq (ZIL) are among the cryptos that the platform currently supports. Bithumb DEX groups all coins in pairs with ETH.
Line lists cryptocurrency on Bitbox exchange (ZDNet), Rated: A
Line has listed digital token Link on its cryptocurrency exchange Bitbox, making it available for trade via three digital tokens: Bitcoin, Ethereum, and Tether.
Line launched Bitbox in Singapore in July this year, offering more than 30 virtual currencies including Litecoin and Bitcoincash. Operated by Singapore-based Line Tech Plus, the exchange supports 15 languages including Korean and English and is available globally, except Japan and the US.
Indian Cryptocurrency Fraud Case Reaches Impasse (Ethereum World News), Rated: A
A Goregaon resident, Subhashchand Jewria, was accused of luring investors to his fraudulent cryptocurrency scheme in 2017. Almost a year later, victims have not come forward to testify against Jewria. As reported by The Indian Express, the Economic Offences Wing (EOW) of the Mumbai Police called the case a deadlock.
Cryptocurrencies and the big blockchain lie (livemint), Rated: A
With the value of Bitcoin having fallen by around 70% since its peak late last year, the mother of all bubbles has now gone bust. More generally, cryptocurrencies have entered a not-so-cryptic apocalypse. The value of leading coins such as Ether, EOS, Litecoin, and XRP have all fallen by over 80%, thousands of other digital currencies have plummeted by 90-99%, and the rest have been exposed as outright frauds. No one should be surprised by this. Four out of five initial coin offerings (ICOs) were scams to begin with.
Nouriel Roubini is CEO of Roubini Macro Associates and professor of economics at the Stern School of Business.
KuCoin Crypto Exchange Temporarily Suspends Tether (USDT) Withdrawals and Deposits (Bitcoin Exchange Guide), Rated: A
Additionally, according to a blogpost on KuCoin’s official website it can be seen that the exchange is currently in the process of updating their USDT wallet system so as to better secure it against third party infiltrations and other nefarious miscreants.
The post also notes that up until further notice, any deposits and withdrawals associated with USDT and its trading pairs will not be available.
Telegram to Debut ‘Test Version’ of Blockchain Platform TON ‘This Autumn,’ Say Investors (CoinTelegraph), Rated: AAA
Russian Accused of Hacking Public Servers to Mine Bitcoin Faces up to Five Years in Prison (CoinTelegraph), Rated: A
A 21-year-old Russian from the Siberian city of Kurgan is facing criminal charges for illegally mining Bitcoins (BTC) via government-owned servers, local news agency Ura.Ru reports Tuesday, October 16, citing the regional office of Russia’s Federal Security Service (FSB).