BTC trade ideas
SEC Action, Telegram Responds to InvestorsSEC Action, Telegram Responds to Investors
TON (Telegram Open Network) has been trying to get feedback from the SEC (Securities and Exchange Commission) of the United States for 18 months now. And this is about the TON blockchain and how it does not agree with the recent action.
In addition to that, TON developers gave a response to its investors. And this happened after American regulators abruptly reported its $1.7 billion token sales became illegal.
The Ton letter stated, “We were surprised and disappointed that the SEC chose to file the lawsuit under these circumstances.”
The letter also showed how the firm disagrees with the legal position of the SEC.
Moreover, the company assured them they are assessing further the best possible ways to resolve the situation. Of course, in the interest of the relevant parties. And this includes, but not limited to, evaluating if they would delay the launch date.
The SEC deemed Telegram’s initial coin offering (ICO) illegal. After that, it filed a temporary restraining order, which set a court hearing in New York for October 24.
Then, Nathaniel Popper, New York Times tech reporter, tweeted on October 12 to indicate the involvement of high-profile investors in Telegram’s $1.7 billion ICO. And it includes Benchmark, Sequoia, and Lightspeed.
Popper wrote, “The SEC’s move to shut down Telegram’s crypto project raises questions about the big venture capital firm that gave it $1.7 billion and convicted themselves that it would pass regulatory muster.”
Previously, a private Telegram channel for TON investors got rid of all posts from the past. Also, it declared that it would take a break amid the heightened level of regulatory uncertainty.
Crypto Market: Bitcoin Bounced
On Sunday, Bitcoin (BTC) further bounced around the $8,400 price mark. On the other hand, most of the top-20 coins by market capitalization showed little gains.
Aside from that, crypto markets are seeing slight gains — most within a tight range of 1-2%. Binance Coin (BNB) is the one who stood out the most and is boosting over 7.5%.
Cryptocurrencies’ Opportunity In BettingBack in July, you may have seen an article posted here about cryptocurrencies’ place in the sports world . As detailed in that piece, teams and leagues in everything from European football to the NBA to kickboxing have explored various forms of investment in cryptocurrencies, leading many to believe that sports will continue to provide exciting opportunities on the digital currency front. In this piece, we want to expand on this idea by highlighting, in addition, to the exciting opportunities that the sports betting business can provide for cryptos.
The Basic Perks Of Cryptos
We tend to focus so much on cryptocurrency pricing these days that we forget about its basic appeal to users. Broadly speaking, it’s still the case that most consumers know relatively little about cryptos, or know a little bit but find them confusing or unnecessary. However, those who do understand cryptos and recognize their benefits tend to count instant settlement and fraud protection among the perks . These perks can be applied to a lot of different usage opportunities, naturally, but efficiency, security, and transparency are of particular importance to people betting online. While today’s sportsbook and casino sites tend to be fairly secure, there’s a history of less-than-reputable operators in this industry, which leads customers to be on their guard. So, in theory, instant settlement and fraud protection can be reassuring and appealing to sports bettors.
The Expanding Betting Business
If we’ve established why cryptos can be of interest to bettors, it’s also worthwhile to discuss where those bettors will do business. And the answer to that prompt is that there are betting opportunities in more places seemingly with each passing month. Sportsbooks have operated in Europe, in Oceania, in parts of Asia, and on islands around the world for many years now. More recently, U.S. laws have changed and sites are emerging in certain states as well, meaning Americans, too, will soon have widespread access to sportsbooks. Also of note is that these sportsbooks operate about as much through mobile channels as on the internet now, which serves to further expand access. All things considered, this is a growing and increasingly active business.
The Clear Opportunity
What the two points above illustrate is that betting – like the sports industry as a whole – represents a major opportunity for cryptocurrency. Cryptos are a natural fit for people who are looking to place bets as securely and efficiently as possible. And with the expanding industry, there are only going to be more and more bettors who fit that description. This suggests that if and when prominent sportsbooks choose to adopt cryptos, usage could take off.
Virginia Beach-based BCause Mining Ordered to Liquidate AssetsLocated in the city of Virginia Beach, Bitcoin mining operation BCause Mining was ordered to liquidate its assets .
Local news outlet the Virginian-Pilot reported on October 9 that the Bitcoin mining company filed earlier this year for bankruptcy. Then this week, a federal finally approved the motion to change the filing from a reorganization to a Chapter 7 liquidation.
Furthermore, the now-defunct mining firm received a $500,000 grant last January 2018 from the city of Virginia Beach. And they gave this amount for the company to expand its operations to a local rented warehouse. On the other hand, the firm assured to incest more than $60 million in a massive expansion. And this would have become the largest cryptocurrency mining operation in North America.
Elsewhere in West Virginia, the Federal Bureau of Investing (FBI) is investigating if a student at the University of Michigan tried to hack the voting app.
Mac Warner, Secretary of State in West Virginia, warned the FBI during an unsuccessful effort to have unauthorized access to the Voatz voting app. Also, he stated the activity of the attempt was from IP addresses connected to the University of Michigan.
Impressive Gains
Meanwhile, Bitcoin and altcoins showed remarkable gains. The BTC further rebounded, leaping $400 in just a few hours. Then, altcoins rally in sync with BTC.
The most popular crypto coin rallied from an intraday low of around $8,200 up to its current trading price around $8,600. This shows incredible gains of above 5%. Then, the vast majority of the top 100 cryptocurrencies are jumping in sync with Bitcoin. Also, they are recording major double-digit gains.
Then, Ether (ETH) followed suit and boosted in sync with most of its fellow altcoins. It displayed more than a decent gain of almost 7%. The second-biggest cryptocurrency by market cap reached its intraday low at $170. And after that, it has hit $91.58 per coin. But the price still fell 14% from its high of $222 in mid-September.
Cryptocurrency collapsing led by Altcoin Bloodbath?When some1 tells you cryptocurrency collapsing led by Altcoin Bloodbath just show him this chart
Volume of Digital Coins to Make Ground Amid Bakkt’s Weak IntroYesterday, after Bakkt has launched, trading seems to be off on a positive start. On the flip side, Bitcoin is experiencing a quiet period in volume and volatility at the moment.
Over the time, Bakkt Bitcoin’s volume will be increasing. A lot of investors are expecting the increase.
The unveiling of a significant institutional investment product for a relatively new asset is not without consequence.
The Intercontinental Exchange has evidently understood that.
Moreover, initial thoughts for the products of the physically delivered future are positive.
Bakkt Bitcoin futures finally began to operate, after following months of anticipation.
In addition, a few hours ago, it is enabling investors to immerse in both the contract and the actual asset.
In a news report, head of the product strategy at TradeStation Crypto James Putra indicated that investors could possibly benefit first from the growth in the futures price.
After that, it can then take control of the physical Bitcoins.
He also added that the move to merge and create an accessible infrastructure for crypto-asset investment is a positive step.
Explanation on Bakkt’s Point of View
Meanwhile, Su Zhu stated that the acceptance on day one is usually low, but it could escalate into a surge.
He is also the CEO of FX Hedge Fund Three Arrows Capital and Co-Founder of Sensus Markets.
In a statement, Zhu stated, “Bakkt will be likely first a trickle and then a flood.”
Moreover, “The reality is that most regulated futures contracts get low adoption on day1 simply b/c, not all futures brokers are ready to clear it, many ppl want to wait and see, the tickers are not even populated on risk systems, etc.”
At the time of writing, 17 BTC has already been financed into the Bakkt monthly agreement, and volume was escalating.
However, this is a good start, and it is just really the beginning. The first day is not going to be the basis for the success of the products.
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Bulls and bearsEven though it may look like bitcoin is going up, you might want to hold back and see how it is going to form. Alot of pump and dumps and alot of velocity.
Bitcoin Market Cap. Up or Down.....Hi all,
(info provided in the chart)
The Bitcoin Market Cap chart moving right now in a sym triangle. This is a continuation pattern.
A triangle forms itself to give the market some breath after a big move.
Because it is a continuation pattern, I'll expect a break out upwards.
But, keep in mind, this type of triangle always has a 50/50 outcome.
Short after clear break down, long by clear break up
My long term:
Digital currencies on TuesdayThere is another good news for people who own digital currencies or are planning to buy Bitcoin’s price. The price of the number one cryptocurrency increased on Tuesday. Bitcoin’s price surpassed $10,000 level which is often regarded as a key psychological level. It means that when the price is above that level this makes Bitcoin more attractive to the crypto investors.
Bitcoin struggled on Monday as its price was below $10,000. However, Bitcoin was able to break the resistance near this level. The price continued to increase after it crossed the $10,000 level.
At the moment, Bitcoin’s price is $10,301. This digital currency has the potential to achieve $10,500 if this trend is going to continue on Tuesday.
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Digital currencies and global tendenciesThe cryptocurrency market is growing very fast. At the moment, there are more than 1,000 cryptocurrencies in the world. Some of them are well-known while others are relatively unknown for the crypto community. It is not surprising as the market is evolving every day. A person should devote a considerable amount of time to learn more about the latest trends.
One of the news which is directly connected to the digital currencies is the famous investor’s comment about the Bitcoin. Billionaire investor Mike Novogratz is the CEO of Galaxy Digital Holdings. This is a bitcoin and digital currency investment company.
Novogratz thinks that the bitcoin revolution will happen in the future. It just will take some time before cryptocurrencies will become part of everyday life. According to Novogratz, the process might take up to five years. He mentioned that regulations should catch up with modern tendencies.
Regulations and digital currenciesDigital currency and its problems
Mike Novogratz is not the only person who understands the problems which cryptocurrencies are trying to deal since the beginning. United Nations (UN) top official is also worried about the lack of regulations.
Neil Walsh is the chief of the Cybercrime and Anti-money laundering at the UN office. The UN Office on Drugs and Crime’s task is to deal with various crimes connected with cybersecurity, etc.
Walsh said that by adding security protocols as this change will make digital currencies less interesting for potential criminals. He noted that the UN was working with policymakers and crypto experts to enforce the regulations.
Several months ago, in June FATF which is the intergovernmental organization released its final version of recommendations. In his speech UN official also talked about this issue. The purpose of this document to fight the money laundering and other criminal activities.
There is no single approach when it comes to taxes imposed on digital currencies. For example, in Portugal, there is no value-added tax (VAT) for crypto trading. Also, payments in cryptocurrencies are free from VAT.
Another good news for crypto owners is that in Portugal they do not have to pay the income on cryptocurrency earnings.
Cryptocurrencies on ThursdayBitcoin’s price fell on Thursday. Bitcoin is the biggest cryptocurrency when it comes to market capitalization. It means that current and potential Bitcoin owners pay more attention to this digital currency. It makes sense, as Bitcoin is not only the biggest but is one of the best-known cryptocurrencies on the market.
Bitcoin’s price decreased by 5%. It is worth mentioning that this happened in several hours. For the last several days, Bitcoin continues to struggle as its price fell to less than $10,000. This trend continued as Bitcoin’s price fell to the lowest weekly level.
At the time of writing, Bitcoin’s price is $9,429.
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Digital currencies and social mediaThe price of major cryptocurrencies such as Bitcoin fell on Tuesday. Yesterday, on August 26 the price of Bitcoin increased and at some point even surpassed the $10,400 level. It continued its rise to the top when Bitcoin’s price reached more than $10,500. However, it was unable to increase its price and Bitcoin experienced problems.
At the moment, the price remains above $10,000 level. At the time of writing Bitcoin’s price is $10,019. However, Brian Kelly who is the founder of the investment company BKCM thinks the situation will improve in the future. Kelly even added that right now is an excellent time to buy Bitcoin.
He also talked about the reasons which affected the price of Bitcoin. Kelly stated that the number of active Bitcoin addresses decreased which might indicate that cryptocurrency is close to sell-off. According to Kelly, after sell-off, the Bitcoin’s price will strengthen its position.
The price of another digital currency Ethereum also declined on August 27. Right now Ethereum is the second-largest cryptocurrency on the market. Yesterday, its price reached $193, 44 but in a couple of hours, the price of Ethereum fell to less than $190. Right now, Ethereum’s price is $186.
Litecoin’s price followed the footsteps of other major cryptocurrencies. Litecoin’s price is $73.
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BTC on MondayOn Monday, Bitcoin’s price increased, and at some point, it even reached more than $10,500 per Bitcoin. This happened as Bitcoin enjoyed strong support during the early morning on Monday.
The price of the biggest cryptocurrency in terms of market capitalization managed to recover from less than $10,000 to more than $10,660. It is worth mentioning that the price has changed in several hours.
At the moment the price decreased, but it is well above the $10,000 level. Right now price per Bitcoin is $10,344. As mentioned above, there are several factors which affected the Bitcoin price. One of the most important elements at the moment is the ongoing trade war between the U.S. and China.
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Bitcoin’s price increased on August 23The price of Bitcoin surpassed $10,000. For the last couple of days, Bitcoin struggled to overcome this level. However, at the moment the price of Bitcoin is $10,207. There is a chance that Bitcoin will continue its journey to the top.
Bitcoin’s price reduced to less than $10,000 during the past several days. It worth mentioning that Cryptocurrencies play an important role as some analysts argue that Bitcoin can act as “digital gold.”
It means that the number of people willing to invest in the cryptocurrencies is on the rise. Every time the price of Bitcoin falls below $10,000 this creates uncertainty regarding the digital currency market. However, people should keep in mind that Bitcoin, Ethereum can reverse the trend as it happened on Friday.
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Bitcoin’s price decreased on ThursdayFor the last several days, the most prominent cryptocurrency in the world in terms of market capitalization continues to experience problems. Yesterday on August 21, the price of Bitcoin fell to less than $10,000.
This happened after it lost support at $10,250 against the U.S. dollar. However, the troubles of Bitcoin did not end there, and price continued to decrease below $10,000. Moreover, in several hours the price reduced to $9,757. At the moment the price of Bitcoin increased and reached $9,965.
There are several factors which affected the price of the cryptocurrencies. One of the main reasons is that investors are cautious regarding the ongoing situation. Let’s have a look at the latest results from alternative.me’s Fear & Greed Index. Nevertheless, this index it’s pointing out to extreme fear. It means that this is bad news for Bitcoin and digital currencies in general.
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Price of BTC declinedThe price of the biggest cryptocurrency in terms of market capitalization decreased on Wednesday. Bitcoin was unable to break the resistance. It means that Bitcoin’s price failed to surpass the $11,000 level. Moreover, in several hours price decreased from $10,900 to below $10,100.
At the time of writing, Bitcoin’s price slightly increased and reached $10,112. Nevertheless, in comparison with the day before this is still a significant decline for Bitcoin. At the moment, it is hard to make the prediction, but it is essential to keep the price above $10,000 level. It is worth mentioning that Bitcoin’s price since mid-June did not fall below the $9,300 level.
Ethereum is the second biggest digital currency in terms of market capitalization. Its price also decreased on Wednesday. Ethereum’s price dropped by more than 5% in the last 24 hours. The price of the Ethereum fell below $190. Right now, the Ethereum’s price is $187.49. However, there is a chance Ethereum might be able to reverse this trend in the upcoming days.
Another cryptocurrency Litecoin is also experiencing problems. The price of Litecoin decreased by more than 2%. Litecoin’s price fell below $75 level. Yesterday at some point price was $77, but after several hours the price decreased to less than $75 per Litecoin. At the moment, the price of Litecoin is $72.06.
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Cryptocurrency market newsThe number of businesses which embrace cryptocurrencies such as Bitcoin, Ethereum, and other others is on the rise. NBA teams Sacramento Kings and Dallas Mavericks accept cryptocurrencies. It means that fans who would like to pay for the tickets by crypto money no longer have to exchange the cryptocurrencies for the U.S. dollars.
Moreover, NBA teams are not alone when it comes to using digital currencies as a form of payment. Recently, a luxury condominium complex in Orlando, Florida signed an agreement with BitPay. It means that from now on Grove Resort & Water Park will accept the cryptocurrencies. At first glance, this might seem as minor progress for Bitcoin and digital currencies; however this agreement is another good news for the crypto community. Investors can purchase the condo residences by Bitcoin payments.
It is worth mentioning that this is not the agreement connected with the real estate market. For example, in 2017, BitPay handled almost $20 million in real estate sales. Even though the results fell in 2018 when the company processed around $6 million in real estate development; the interest remains high.
Cryptocurrency’s code of practiceCrypto rules and regulations
The popularity of digital currencies increased the risk of illegal activities. The Association of Cryptocurrency Enterprises and Startups of Singapore (ACCESS) created a code of Practice. This organization, in cooperation with law firm Linklaters, developed this document to tackle illegal activities.
The purpose of this code of practice is to provide detailed information about the money laundering. However, it covers other issues as well such as financing of terrorist activities by using the digital currencies. Also, it is important to mention that government officials support this code of Practice. The Monetary Authority of Singapore, which is the central bank of Singapore, fully supports this initiative.
Singapore is one of the biggest business hubs in the world. This code of practice will once again underline the importance of Singapore as a global business hub.
Digital currencies on August 16On Friday, the price of primary cryptocurrencies changed several times in one day. The price of the biggest cryptocurrency was unstable as on Thursday price decreased below $10,000. Bitcoin’s price reduced after it lost support at $10,000, it further reduced to $9,650 on Thursday.
Based on the information provided by CoinDesk, Bitcoin’s price fell by 21% during the last seven days. It means that from August 8 to August 15 the price of Bitcoin decreased by more than 20%.
The ongoing trade war between the U.S. and China influenced the Bitcoin’s price. During last week, after another round of mutual accusations, the price of Bitcoin fell to less than $10,000. On August 15, stock market prices fell due to the ongoing trade war. The shares of the S&P 500 decreased 3% while FTSE-100 shares fell by about 1.3%.
For a short period of time, the price of Bitcoin managed to increase to $10,385. However, in several hours, the price fell again to less $10,000. On Friday, at the moment of writing, the price per Bitcoin was $10,036.
Cryptocurrencies on FridayPrice of cryptocurrencies such as Bitcoin, Litecoin, and Ethereum changed multiple times during the last 24 hours. It is worth mentioning that Bitcoin’s price continues to decrease for several days in a row. There are several factors which affected the cryptocurrencies. Bitcoin’s price dropped as it was unable to hold the momentum when the price was $10,000. After Bitcoin lost support at $10,000, its rate further decreased to $9,650 on Thursday.
According to CoinDesk, Bitcoin’s price fell by 21% during the last seven days. It means that from August 8 to August 15 the price of the number one cryptocurrency decreased by more than 20%.
The trade war between the U.S. and China started over a year ago. However, as the conflict escalated this week, it created additional problems for Bitcoin. On Wednesday, stock market prices fell due to the ongoing trade war. It is worth mentioning that the S&P 500 lost 3%. At the same time, FTSE-100 in London also experienced problems as its shares fell by about 1.3%.
In this situation, the price of Bitcoin still managed to increase to $10,385. However, in several hours the price fell again to less $10,000. At the moment, the price per Bitcoin is $10,036.
Litecoin and EthereumCryptocurrency news
The price of other cryptocurrencies also decreased on Friday. Ethereum is the second biggest cryptocurrency in terms of market capitalization. The price of Ethereum declined and at the moment, the price per Ethereum is $184. On Thursday, the price declined to the lowest point of this month when the price of Ethereum reduced to $173.
The price of another of Litecoin fell on August 16. Right now, the price of Litecoin is $74.21.
Digital currencies such as Bitcoin, Ethereum, and others are famous around the world. Even though the price of the biggest cryptocurrency changed several times, there is a chance that Bitcoin’s price will increase in the upcoming days.
