Day: October 6, 2019

Bitcoin Price Near to Critical Support at $7,120; Must Hold to Avoid a New Bear Market

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This week isn’t looking good for Bitcoin (BTC) as the price continues to decline after reaching a high of $8,540 on Oct. 1 down to $7,870 on Oct. 6.  This continued decline was anticipated in last week’s analysis, with fingers pointing to China’s week-long Golden Week as a possible catalyst for the reduced trading volume.   However with the Chinese set to return to their desks next week, will they be buying the dip, or sitting on the sidelines for the new support being flagged across the charts?   Weekly crypto market…

Hong Kong’s SFC Releases Regulations for Crypto Fund Managers

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Hong Kong’s securities regulator, the Securities and Futures Commission (SFC), has officially released regulations for crypto fund managers. The SFC published the regulatory circular on its website on Oct. 4. In the 37-page document titled “Proforma Terms and Conditions for Licensed Corporations which Manage Portfolios that Invest in Virtual Assets,” the SFC provided terms and conditions for corporations managing portfolios that invest in virtual assets. Organization and management structure According to the document, virtual asset fund managers in Hong Kong should always maintain liquid capital of a minimum of 3…

UAE’s Social Ministry to Grant $16K in Blockchain Contest

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The United Arab Emirates’ Ministry of Community Development (MOCD) will host a competition for developing blockchain software in the social sector. Driving blockchain for awareness and social care The MOCD announced its “Social Blockathon” competition with a total prize fund of $16,300 to encourage the development of blockchain-based applications for educational, social and recreational purposes, the country’s official news agency, Emirates News Agency, reported on Oct. 6. According to the report, the contest submissions are open till Feb. 20, 2020, with the Blockathon inviting programmers, graphic and interface designers to…

Bitcoin Cash Proponents Prepare for Forthcoming Upgrade Features

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In five weeks, the Bitcoin Cash (BCH) network will upgrade once again, adding two new features to the blockchain. The first component added will be Schnorr support for OP_Checkmultisig, which will allow more complex mechanics to multi-signature transactions and all signature checking operations will support Schnorr signatures. Lastly, the upgrade will finalize the BIP62 malleability vector by enforcing Minimaldata in script, otherwise known as the “Minimaldata” rule. This enhancement aims to make “most of the transactions on the BCH network (including all P2PKH transactions) be non-malleable.” Also Read: McAfee to…

Crypto News From Brazil: Sept. 30–Oct. 6 in Review

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Brazil saw another week of reports on alleged cryptocurrency scams as the Sao Paulo Court ordered to block the assets managed by Unick Forex, while another firm was reported of promising 400% returns through a cryptocurrency investment scheme. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph Brasil. Unick Forex reportedly flees offices but apparently will resume operations Following a police investigation of purported investment scheme Unick Forex, staff reportedly fled the firm’s offices with computers and other hardware in tow. Cointelegraph…

Fiat-Backed Stablecoins ⁠— Attempt to Take the Best of Both Worlds

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Stablecoins attempt to be fiat currencies among cryptos. They can be a medium of exchange, a means of storing value and a unit of account. Unlike other digital coins, stablecoins are tied to some kind of stable asset — such as the United States dollar, euro or even gold. Linking to such assets confirms the coin’s stability and mitigating the volatility of cryptocurrencies. Related: Stablecoins Explained With this type of a token, an equal amount of fiat currency should be stored by the issuing company to back the value of…

Hodler’s Digest, Sept. 30–Oct. 6

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Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week PayPal officially pulls out of the Libra Association It’s official: PayPal has left the Libra Association — the governing body of Facebook’s embattled digital currency. Although the payment processing giant says it remains supportive of the stablecoin’s aspirations, the company was absent from a meeting…

10 Crypto Trading Mistakes That Will Leave You Broke

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The crypto market has extremely low barriers to entry, meaning anyone with an internet connection, a smartphone or a computer and a bit of starting capital can theoretically become a trader. Sadly, most of these beginners learn hard lessons and go broke. Here are 10 common mistakes made by beginning traders that you should avoid at all costs.  1. Starting with real money rather than paper trading  There is no reason for a beginning trader to use real money when there are endless resources and platforms for paper trading, including…

Top-5 Crypto Performers: LINK, TRX, EOS, XRP, ADA

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Fundstrat Global Advisors co-founder Tom Lee believes that Bitcoin does well when the S&P 500 market index moves up. Though Bitcoin might act as a macro hedge against global turmoil in some instances, it has largely performed negatively when the S&P 500 has dropped. It will be interesting to see how Bitcoin moves in the next few weeks. Bakkt’s launch did not generate the interest it was expected to do, which led some to blame it as the reason for the recent drop in Bitcoin. However, institutional traders do not…

South Korea’s Crypto Youth | Cointelegraph Documentary

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In the last few decades, South Korea has been among the fastest developing countries in the world. It is currently the planet’s third-largest crypto economy, after the United States and Japan.  Cointelegraph traveled to Korea to meet a new generation of crypto entrepreneurs who are building the future of blockchain. Among the people we talked to were representatives of established firms — such as crypto investment funds Hashed and Kakao’s blockchain subsidiary GroundX — but also common Korean investors who still see Bitcoin as a path toward a better life. …