Day: April 12, 2020

Top 5 Cryptocurrencies Long-Term Outlook: BTC, ETH, XRP, BCH, BSV

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Most of the top five cryptocurrencies are attempting to form long-term bottoms, which are unlikely to be revisited after the next uptrend starts. Bitcoin and the crypto universe are going through one of the toughest periods as the world battles the coronavirus pandemic. The central banks and governments are trying to support the economy by announcing several easing measures. While this has improved sentiment in the short-term, it could reduce the value of fiat currencies in the long-term. In a recent interview, Bridgewater Associates co-chairman and co-CIO Ray Dalio said…

May’s Bitcoin Rewards Halving Will Force Weak Miners Off the Network

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With the COVID-19 pandemic grabbing most headlines the past few weeks, the cryptosphere has been directing some of its attention toward Bitcoin’s reward halving. With the event just four weeks away and the Bitcoin Cash and Bitcoin SV halvings already executed, the anticipation for Bitcoin’s halving is at an all-time high. “Bitcoin halving” interest rising over time. Source: Google Search Trends The halving grants Bitcoin (BTC) one of its most important features — its deflationary status. Bitcoin started out with 50 BTCs being created with each block, which took approximately…

BitMex Has Been Bleeding Bitcoins Since Black Thursday

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Since Black Thursday, BitMex users have been withdrawing Bitcoins (BTC) from the exchange in droves. On March 13, BitMex held 306,814 Bitcoins (BTC), by April 9, this number had dropped to 222,025 — this represents a 38% decrease in Bitcoin holdings. Source: TokenAnalyst Although it coincides with the recent trend of traders moving Bitcoins away from centralized exchanges in general, in the case of BitMex, the drop is more pronounced. Source: glassnode Traders switching to better alternatives The exchange went offline for 25 minutes on March 13. According to BitMex,…

Lead Plaintiff Settles Class Action Targeting $20 Mln ICO for $250,000

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In a continuation of ATBCoin’s class action lawsuit over its $20 million dollar Initial Coin Offering, or ICO, the lead plaintiff has filed to settle the case for 1.5% of the total raised. While ATB Coin claimed that its blockchain would be the fastest in the world, ATB’s launch revealed that its technology could not out-perform other ledgers. $20M ICO Suit to Settle for $250,000 In a motion for preliminary approval filed on April 10, the lead plaintiff in the suit, Raymond Balerta, has filed for a $250,000 settlement. The…

30 Days Left — Bitcoin RSI Has Never Been This Oversold Pre-Halving

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Bitcoin (BTC) has never been so oversold in the last month before its block reward halving, one important indicator shows. In an ongoing Twitter debate on April 11, the analyst known as PlanB noted that Bitcoin’s relative strength index (RSI) was unusually low. Indicator hits record pre-halving lows The oscillator uses a scale from 1 to 100 to determine whether Bitcoin is overbought or oversold at a particular price. The 12-month RSI currently registers 49 — near its historic lows. Since 2011, according to data from PlanB, it has only…

Crypto Markets Don’t Need Ambulance Chasers to Mature

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Roche Cyrulnik Freedman LLP, working with Selendy & Gay PLLC, filed 11 class-action lawsuits on April 3 in the Southern District of New York against seven token issuers and four of the world’s largest cryptocurrency exchanges. The sweeping filings name exchange giants Binance, Bibox, BitMEX and KuCoin as defendants, along with Block.one, the Tron Foundation, the Bprotocol Foundation — which oversees the Bancor protocol — Civic, KayDex Pte. Ltd. — which operates as Kyber Network — Quantstamp and Status. Executives were not spared, with heavyweights Changpeng Zhao, Dan Larimer, Vinny…

Crypto Markets Don’t Need Ambulance Chasers to Mature

boss

Roche Cyrulnik Freedman LLP, working with Selendy & Gay PLLC, filed 11 class-action lawsuits on April 3 in the Southern District of New York against seven token issuers and four of the world’s largest cryptocurrency exchanges. The sweeping filings name exchange giants Binance, Bibox, BitMEX and KuCoin as defendants, along with Block.one, the Tron Foundation, the Bprotocol Foundation — which oversees the Bancor protocol — Civic, KayDex Pte. Ltd. — which operates as Kyber Network — Quantstamp and Status. Executives were not spared, with heavyweights Changpeng Zhao, Dan Larimer, Vinny…