Day: July 19, 2020

This Technical Pattern Suggests Bitcoin Will Plunge Over 30% in Coming Weeks

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Bitcoin appears to be in a somewhat precarious position, as a few technical factors are currently suggesting that it may soon see some notable near-term downside. One such technical factor suggesting that the crypto is poised to see notable near-term downside can be seen while looking towards a fractal pattern it has been developing over the past few weeks. This fractal is similar to one formed in the summer of 2019 and signals that the crypto could soon see some notable losses. Specifically, one analyst is looking for a retrace…

Canadian Regulator Accuses Coinsquare of Wash Trading

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Canadian regulator Ontario Securities Commission (OSC) has accused embattled exchange Coinsquare of market manipulation and misleading clients about trading volumes. The OSC alleged Coinsquare, which has been accused of wash-trading and reports of a hack, had “engaged in conduct contrary to Ontario security laws.” The regulator also named founder Virgile Rostand, CEO Cole Diamond and chief compliance officer Felix Mazer as respondents.  A hearing regarding the case will be held on July 21.   In its complaint, the OSC said Diamond directed Rostand to inflate trading numbers in March 2018. Rostand…

$6M Worth of Tether on the Bitcoin Cash Chain Highlights the Benefits of SLP Tokens

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During the first week of July, crypto supporters noticed that Tether issued 1,010 stablecoins via the Simple Ledger Protocol (SLP) framework on Bitcoin Cash. Now there’s a much larger amount of SLP-based tethers in circulation as the company has minted a total of 6 million on the Bitcoin Cash blockchain. Digital currency enthusiasts have been watching the Tether project grow for years now and to-date the firm has $9.8 billion in total liabilities according to the company’s transparency page. The USDT stablecoin is spread across various blockchains including Ethereum, Tron,…