Upheaval of Crypto’s After Market rise, Bitcoin hold over $3,600

Saturday, Feb. 9 —Bitcoin (BTC) is holding steady above the $3,600 price point as Coin 360 data shows, major Cryptocurrencies are facing a mix of mild gains and losses, following a major market surge since yesterday.


On Friday, Feb 8. BTC gained over $200 reaching a multi-week high of $3,691 throughout the day. The top currency continued to trade consistent today, before a balance to press time around $3,660.


BTC daily transaction volume is gradually growing. As Cointelegraph reported earlier this week, the past highs are to be seen as of January 2018, when world’s top currency valued to $20,000.


Ripple (XRP), currently the second largest Cryptocurrency, has shed about 1 percent in price on the day and is now trading near $0.31. Its market capitalization is over $12.7 billion — about $260 million bigger than the next largest crypto, Ethereum (ETH).

 

ETH price is increasing around $119. Week wise the currency mostly traded sideways near $110, falling to an intra-week low of $103 on Feb. 6. Yesterday’s market returned back ETH value as of late January.
Back this day, total market capitalization of all Cryptocurrencies spiked over $122 billion, before taking a fall back down to $121 million later, according to CoinMarketCap. The daily trading volume for the last 24 hours is around $20.2 billion.


Binance Coin (BNB), Maker (MKR) and Litecoin (LTC) are the major gainers on the day. BNB, currently the 10th largest coin by market cap, has gained nearly up to 3 percent, seeing fairly steady growth since Feb. 6. MKR is up 3.2 percent, while LTC is up 3.5 percent on the day. since yesterday litecoin is on a double digit rise, claimed to be 4th largest Cryptocurrency.


Among the top twenty coins, Bitcoin Cash (BCH) and Tron (TRX) is on a loss for the day, with about 2 percent as of press time.


In industry news, Bakkt, the much-certain digital assets platform operated by the Intercontinental Exchange (ICE), has closed its first acquisition. The move marks the finalization of an acquisition of assets in futures commission merchant Rosenthal Collins Group.


In a win for adoption, Argentina’s state public transport card SUBE (Sistema Único de Boleto Electrónico) can now be topped up by using Bitcoin.

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Clients’ £110m goes for a toss with the death of Crypto trading boss.

Gerald Cotten, 30, solely knew the passwords to access customers’ money – after his demise his wife is now receiving threats.


Canada’s leading Cryptocurrency exchange company says it cannot repay $190m (£110m) to clients because its founder died with their passwords.


QuadrigaCX’s founder Gerald Cotten, his wife reasoned his death at age of 30 “due to complications with Crohn’s disease” while travelling in India to open an orphanage in December.


No other members of the team could access the stored funds but only Mr. Cotton had the sole responsibility, his wife states in a sworn affidavit on 31 January as she filed for credit protection.


Ms. Robertson said MR. Cotton or the company held the key to those $190m (£110m) which is safeguarded in ‘cold storage’. he held “sole responsibility for handling the funds and coins” and no other members of the team could access the stored funds, she added.


In spite of his wife having his laptop she failed to break through the passwords even after hiring a technical expert they failed to decode the encryption. Ms. Robertson added in the affidavit that she and her colleagues are being threatened by online Cryptocurrency communities – especially from Reddit users.


The company’s board of directors applied for creditor protection, with Ernst & Young expected to be appointed on Tuesday to oversee the proceedings on 31 January.


A statement from the board said: “For the past weeks, we have worked extensively to address our liquidity issues, which include attempting to locate and secure our very significant Cryptocurrency reserves held in cold wallets, and that are required to satisfy customer Cryptocurrency balances on deposit, as well as sourcing a financial institution to accept the bank drafts that are to be transferred to us”.


“Unfortunately, these efforts have not been successful.”
QuadrigaCX customers are flooding the social media complaining they are unable to withdraw their money.


Ally Shapoval wrote: “Hello, Quadriga! I withdrew money from my Quadriga account to my bank more than 2 weeks ago. WHERE IS MY MONEY? STILL NOT THERE.


“I sent you emails; you are not responding.”


Another wrote in French: “I have sent lots of emails, but I just get automatic responses, I’m not even able to get my crypto out.”


Questions about whether or not the news of his death is true or is it all just a scam of the company, people doubt.

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Bitcoin Transactions touches new high on January 2018 Levels.

The daily Bitcoin (BTC) transaction since January 2018 has never been so high, after BTC hit the $20,000 price mark. Industry players believe that it is a sign of the evolution of the Cryptocurrency’s ecosystem and fundamentals.

“The system is improving and growing.” Says Jameson Lopp, chief technology officer at Bitcoin personal key security system firm Casa, Lopp delved into various sources and statistical measurements of Bitcoin’s growth over 2018. Lopp wrote:
“A variety of improvements in block propagation have been implemented by Bitcoin Core over the past couple years and as nodes are upgrading, they appear to be having an effect. There’s also a new highly performant miner relay network.”

According to Lopp, “Lower transaction demand, improved fee estimation algorithms, adoption of segregated witness (SegWit), and transaction batching have resulted in more efficient use of block space and less contention for this scarce resource.” SegWit is designed to reduce processing and wait times, as well as transaction fees.


In the fourth quarter of 2018, the average BTC transaction size found its peak at 750 bytes in February before falling to 450. the percentage of BTC transactions spending SegWit inputs purportedly increased from 10 percent to 40 percent,. This, per Lopp, is a result of increased SegWit adoption.


In 2018, the market dominance of BTC reportedly returned to over 50 percent, after falling to 32.5 percent. lopp explained “The number of reachable nodes didn’t fall much in comparison to the exchange rate  —  my suspicion is that people who run these nodes are highly dedicated to Bitcoin and/or using them for economic purposes, due to exchange rate volatility they are unlikely to turn off the node,”


In November 2018, crypto evangelist Anthony Pompliano stated in a blog post that Bitcoin fundamentals, cost and number of transactions, increased. Pompliano emphasized seven fundamentals of Bitcoin, outlining the increasing number of Bitcoin wallets as well as the growth of the amount of daily confirmed transactions.

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After New Ruling, Charlie Shrem to be Paid $45,000 by the Winklevoss Twins as a Legal Commission.

According to an official document filed on Feb. 7. The Winklevoss brothers Tyler and Cameron will have to churn $45,000 to the Bitcoin (BTC) entrepreneur and advocate Charlie Shrem as part of an ongoing lawsuit.

After serving time in prison for his role in now-defunct marketplace Silk Road, Shrem has returned to the cryptocurrency scene, while the Winklevosses operate their own exchange platform.
There was a legal trail for Shrem put forth by the Winklevoss twins as an investigation and asset freeze after a fallout over money owed from a years-old Bitcoin trade deal.


District Court of the Southern District of New york has been investigating the disputes between the business partners, Although the court’s decision has been heavier on Shrem’s part for the second time since last three months. The court likewise reduced the scope of the Winklevoss’ claims, with the legal fees reimbursement from the process now due as on November.


The lawsuit will now continue covering new ground in June. The current battle is the result of years of suspicion between the Winklevosses and Shrem. The dispute has not been settled since 2013, when Shrem purportedly held back 5,000 Bitcoin owed to the twins, but instead, twins state that he used the money for his personal expenditures, although, Shrem’s lawyer has denied these claim.

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South Korea Central Bank Fears, Digital Currencies Can Drain Banks.

CBDCs, which are recognized as state-backed or government-backed digital currencies, includes a blockchain-based version of a country’s fiat currency either replacing or circulating in aggregation with real currency.

South Korea’s central bank alarmed a warning for central bank digital currencies (CBDCs) a week after saying it would not come out with one itself. Reported in local news outlet Yonhap News Agency,                dated Feb 7.
Meanwhile South Korea formally decided against the measure in late January, A number of governments are currently examining the effect of using a CBDC.

The verdict came as a result of a six-month consultation process from Bank of Korea (BoK).

Now, the central bank has claimed in a report that a CBDC would result in large withdrawals of funds from private companies, increasing in the flow of money and rate of interest.

“The CBDC is a kind of a BOK-issued bank account. Trust of the people is in more than one commercial bank,” Kwon Oh-ik, as being the author he explained the report as:
“Demand deposits are one of the biggest sources of loans by banks. When people pull out their money, banks raise rates, or lower the reserve ratio, to secure more funds.”

Seoul does not want to make any changes to its stance on Cryptocurrency as a whole in past few weeks also, last month, lawmakers prohibited the ban on the initial coin offering. The report from the Bank of International Settlements states — A Switzerland based organization made up of 60 of the world’s central banks — last month, This year around 70 percent of central banks worldwide are researching on CBDC.

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Fundstrat Warns Clients, Bitcoin, Altcoins Are Susceptible to Crouch.

Cryptocurrency markets can soon prostrate and maintain the record of bear market, quoted by the investment and analysis firm Fundstrat Global Advisors warned on Feb. 6 through email.


Writing to traders, preassumption done on the basis of current performance one strategist at the firm, Robert Sluymer, summons, there was a chance Bitcoin (BTC) and Altcoin rate could dip further.


BTC/USD took a leap around 2.2 percent over the past week to trade at $3,370 as stated by press time Thursday, as many Altcoins have seen bigger drops. Sluymer said:
“The price structure for most cryptocurrencies remains weak and appears vulnerable to a pending breakdown to lower lows.”


“We are tired of people asking us about target prices,” Bloomberg quoted him as telling clients at the time, nonetheless adding he thought Bitcoin’s fair value should be worth $150,000.


Fundstrat known within the Cryptocurrency space for providing some of the more updates on the future of Bitcoin in particular. Enthusiasm appeared to wane in recent months, however, with popular senior Fundstrat strategist Tom Lee announced he would no longer make public predictions about BTC/USD in December 2018.


Belief in a broad market resurgence in 2019 remains sketchy among other major proponents. Prediction of $1 million made by John McAfee for 2019, Cryptocurrency Exchange Quoine’s CEO also told Cointelegraph believing that Bitcoin will breach its all-time highs of $20,000 within span of eleven months.

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New Funding Method by Credit Card to Crypto Traders has been launched by Trade.io

Trade.io has introduced a new funding method by Credit Card to Crypto Traders as it has made a partnership with Payment Processor Simplex. It will enable Clients to purchase a range of popular Cryptocurrencies by credit or debit card and will ease lot of other transactions.
To start with, they will the solution will support the purchase of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), & Bitcoin Cash (BCH) with USD or EUR. Management of trade.io have also confirmed that more coins and currencies will be added for purchase at a later stage. This is really a great boost for the Crypto Market.


Trade.io’s client base can easily and conveniently invest or trade in Cryptocurrencies as this partnership with Simplex, a leading EU-licensed payment services provider, provides a regulated and secure framework


So by this, Trade.io is providing its support to investors of Financial Instruments

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