Bitcoin news – Market Analysis – After the Storm

Last week’s price slump led to a fall in market capital to below 400 billion euros, but was again able to rise to almost 500 billion euros. No single currency can show a positive balance for the week, only EOS is clearly bullish and was able to displace IOTA from the top 10 crypto currencies.

The price development of the ten crypto currencies with the highest market capital, which is stated in billions of euros, is shown. For crypto currencies that are currently not directly exchangeable into euros, the respective trading pair was taken with Bitcoin as the basis and converted into euros.

Even though Bitcoin’s price estimate at the beginning of last week was negative, it was surprising that it would hit all crypto currencies so hard. For those who had been following Bitcoin’s price for some time, the fall was more of a profitable buying opportunity than a disaster. Nevertheless, it should be noted that all of the top 10 crypto currencies had to give up their feathers. For IOTA, in addition to the general price loss in the last few days, the scandal about the stolen seeds was added. However, it should be emphasized that the influence on the price was rather marginal; the reason for leaving the top 10 was rather the rise of EOS. Since 17 January, this token has recorded a 45 % gain. Although it was not possible to re-test the all-time high reached just under a week ago, the token is well on its way to new highs.

Market capital fell to EUR 340 billion this week, but has now risen again to EUR 474 billion. Accordingly, it looks as if the big price drop is over for the time being.

Best Bitcoin news price performance

Since 6 January, Bitcoin news have been looking up for EOS above all. Like other Bitcoin news tokens and crypto currencies, EOS fell sharply last week after reaching a new all-time high shortly before, but recovered and is about to test its old all-time high. The current rally is certainly related to the expectation of the forthcoming announcement of a new VC back behind EOS; as one could learn regularly from tokens like TRON, announcements of announcements seem to have a positive impact on the price.

A positive and rising MACD and a RSI of 67 lead to an overall bullish impression. Support will be described by the 23.6% fib retracement level. If the price falls below this retracement level, the uptrend that began in the middle of last week would also have come to an end. A real resistance is hard to detect; at the moment the all-time high is being tested.

Worst price development: Bitcoin Cash

Bitcoin Cash also dropped sharply in the course of the latest dip, breaking through the support of a previously pursued triangle pattern. Bitcoin’s little brother has not recovered as much as other currencies since then. The exponential moving average over a week and the 50% fib retracement level were briefly tested, but this resistance was not breached.

The negative MACD and the RSI at 44 lead to an overall bearish impression. Possible support is tested by the 23.6% fib retracement level at 1,400 Euros. The most important resistance is at the level of the 50% fib retracement level.

Stability of the Top 10
A price gain of 14% for IOTA or a price loss of 12% for NEO could lead to IOTA again rising to the top 10 of the assets listed on the coin market cap.

Voting system with the news spy

Depending on the distribution of voting rights, the participants receive different numbers of tokens from the system, with which they can then vote. Time-consuming steps, such as identifying and authenticating the participants and coordinating their voting, will ultimately be taken over by the system.

The voting system should be based on the news spy

The details were published at a workshop where, among others, IBM Hyperledger and SWIFT were represented. SWIFT made sure that the news spy development complied with the ISO 20022 standards. The alignment to the ISO 20022 standard should enable the news spy product to be applied in many different areas.

“One of the main areas of responsibility of the National Settlement Depository as a systematically important infrastructure is to create uniform standards that allow new digital products to be implemented in international and Russian markets. Together with our partners, we have managed to create a good working atmosphere in which to develop new services and, above all, reduce costs for our customers, says Eddie Astanin, chairman of NSD.

The involvement of further global players is planned

According to the working draft, in the future it is above all the intention to attract other internationally active organisations to participate in the project. To this end, the ISO standard will be further expanded and solutions will be developed that also work across national borders.

The idea of organizing the distribution and counting of votes via the blockchain is also conceivable elsewhere. For example, BTC-ECHO has proposed the use of the technology for the Bundestag elections.

If several of these central securities depositories then join together to form an association, it is obvious that the administrative costs are extremely high. Especially when they are still trying to reach a consensus on certain issues. Just the fact that individuals represent companies of different sizes can lead to complications in voting. To solve these difficulties, the CSD Working Group on DLT has announced that it has defined the technical framework for a proxy voting system for shareholder meetings. The use of blockchain technology is intended to simplify or automate the work steps.

Ethereum Wallet for Opera Users: New Feature to Promote Bitcoin formula

Android users of the Internet browser Opera can now look forward to the integration of a wallet for Ethereum. This was announced by the company on 13 December at Hard Fork Decentraliced in London. This makes tangible what the company calls “Web 3.0”: Blockchain, crypto currencies and DLT solutions.

With Opera, Android smartphone users will be able to access an integrated wallet about Ethereum’s Ether.

This Bitcoin formula should make the often criticized complexity of handling crypto currencies much easier:

“We support Android smartphone users with an innovative browser that gives them the ability to experience Web 3 seamlessly. I’d like to invite all tech enthusiasts who may have heard of Bitcoin formula, but haven’t experienced Bitcoin formula yet, to try it with our new browser and Web 3. We made it very easy. We hope that this step will accelerate the transition from speculation and investment with crypto currencies to actual payments and transactions in the daily lives of our users, says Krystian Kolondra, EVP at Opera in a press release.

Adaptation through simplified application

What the company’s vice president has to say is in fact a hurdle that has held back the mainstream adaptation of Bitcoin & Co. so far: its application. Meanwhile, it still seems much easier for users to pay by card or in cash. However, the combination of crypto wallet and smartphone should make this easier in the future. Initially, the Wallet only supports Ethereum, other crypto currencies are also planned:

“We decided to support Ethereum because it has the largest community of developers who build Dapps and have developed a lot of dynamism. Opera supports the Ethereum Web3 API, which makes interaction with dApps smooth for the user. We believe that all browsers will eventually integrate a kind of wallet that will enable new business models to be developed on the web, says Charles Hamel, product manager at Opera.

Joseph Lubin, Ethereum co-founder, is also enthusiastic.
Joseph Lubin, co-founder of Ethereum, sees this as an important step:

“It’s an important step for one of the world’s leading browsers to add an Ethereum-based crypto-wallet and dApp-Explorer, and it speaks for Opera’s innovative roots and commitment to using next-generation technology. We see this as an important moment in improving the accessibility of dApps, opening Web3 to mainstream audiences, and encouraging developers to build on Ethereum.”

Maybe the Ethereum course (ETH) will work again with the increasing adaptation. This is currently just under 86 US dollars per ether.

Shut up, the next one: SEC targets influencers

In the wake of the conviction of Floyd Mayweather and DJ Khaled, the U.S. Securities and Exchange Commission (SEC) reaffirms its position on Initial Coin Offerings (ICOs). Influencers who do not mark advertising for ICOs as such will face prosecution.

In the future, social media influencers should rather keep their hands off the advertising of dubious ICOs. As SEC Enforcement reports via Twitter, the authorities want to put on harder bandages than prominent ICO promoters.

Social media influencers are often paid promoters, not investment professionals, and the securities they’re touting, regardless of whether they are issued using traditional certificates or on the blockchain, could be frauds.

Freely translated, the cryptosoft tweet reads as follows:

“Social media influencers are often paid advertisers and not professional cryptosoft investors. The assets advertised – whether they are traditional certificates or blockchain assets – could always be fraudulent projects.” More on:

The example of Floyd Mayweather and DJ Khaled can also be seen in this context. The Securities and Exchange Commission accused the US celebrities of unfair advertising campaigns for a dubious ICO. Specifically, the influencers had failed to disclose their salaries for advertising, according to the SEC.

Because postings from celebrities with a large reach “in principle give the impression of being unbiased expressions of opinion and not paid advertising measures”. According to the SEC, this type of misleading is a punishable offence.

However, in order for influencers to be liable to prosecution, the advertised ICOs must be expressly considered securities. Only then do the typical SEC securities regulations take effect. As already reported by BTC-ECHO, the stock exchange supervisory authority now classifies the majority of ICOs in this category.

SEC: ICOs are securities

Since the beginning of the year, hundreds of ICOs have therefore come into the crosshairs of the authorities. Securities, as defined by the SEC, must first register with the supervisory authority. However, since the ICOs previously assumed that their projects did not meet this definition, the incriminated projects failed to register formally. This is now falling on the projects’ feet.

Meanwhile, SEC Chairman Jay Clayton confirmed the authority’s assessment of the legal status of ICOs in an interview with CNBC:

“We do not believe that Bitcoin is a security. Many of the ICOs you see and talk about are securities. And if you want to offer or sell securities, you must do so in accordance with our laws. We were aware that recent actions further confirm that our securities laws apply under ICOs. If people want to raise money with ICOs, they must either do so in a private placement or register with the SEC.”

Ueli Maurer: Switzerland does not get a new Blockchain law

There will be no new blockchain law in Switzerland. At least according to Finance Minister Ueli Maurer. This was announced by the SVP member at the Infrachain in Bern. Nevertheless, the country does not want to miss out on European integration.

The Infrachain is a blockchain conference that is somewhat out of line. Instead of the usual focus on the future of (international) financial technology, the Swiss capital will focus on the needs of public administration and infrastructure operators. In short: all areas that blockchain technology can revolutionize with more efficiency and cost reduction. To discuss this potential, representatives from industry and government met in Bern on 3 December.

Ueli Maurer wants to adapt laws for crypto trader

Ueli Maurer, Switzerland’s Finance Minister, spoke on the subject of crypto trader regulation. According to, there should be no new law for blockchain technology. Rather, the government wants to adapt existing laws in order to meet the new requirements of the technology. The Blockchain Task Force, which was set up in January, now has two weeks to provide the necessary documents.

According to the magazine, a total of six laws are about to be changed. These include the Swiss Code of Obligations and the Bankruptcy Act – according to Ueli Maurer, the necessary adjustments are to be introduced before the end of this year. After all, it is also important not to miss the European blockchain race.

Don’t miss the boat

Countries such as Malta and Liechtenstein are making efforts to achieve effective and attractive regulation. They offer tax incentives for young blockchain start-ups. In Germany, the authorities are not yet quite as united as in Switzerland. But at least there is already a plan to bring early regulation to the German Bitcoin scene. In any case, there is plenty of fertile soil for this.

The Greatest Myths about Crypto Currencies and Bitcoin loophole

In the series “The biggest myths about crypto currencies” we would like to take a closer look at the 10 most common claims concerning crypto currencies and their chances and risks. We will daily a new myth vorknöpfen and check this for correctness.

The volatility of crypto currencies makes Bitcoin loophole investments unattractive

One of the arguments frequently put forward against investing in Bitcoin loophole crypto currencies is: “There are such high price fluctuations and nobody knows what it will look like tomorrow, in a week or in a month. Let’s leave it at that.” But are the price developments on the Bitcoin loophole crypto market really a reason to decide against crypto investments? Let’s take a closer look at the situation.

In fact, the high volatility in the markets cannot be dismissed at the moment. The total market capitalisation of all crypto currencies has increased fifteenfold since the beginning of this year alone – this corresponds to an increase of 1400 %. If you pull out the Bitcoin as a crypto pioneer, you still have a value increase of more than 6,000 euros, when it rose from a market value of about 800 euros in January of this year to a temporary all-time high of 7,000 euros.

However, these absolute figures do not speak for themselves. So one cannot imagine the price rise of Bitcoin and other crypto currencies as a linear straight line, which begins at a certain starting point and then continuously points upwards. Rather, volatility means a constant up and down, including phases of stagnation. Critics might say that it is precisely these uncertainties that make crypto investments more difficult, since one can never know which point in time is best for getting started or when one should possibly wait for a price correction.

High volatility can also bring advantages for investors

Day traders in particular, who are willing to buy and sell their coins at any time, can make quick profits through high fluctuations. In addition, larger swings are almost always associated with external events such as regulatory measures or an imminent technical innovation. Those who are always informed and in the picture therefore have a clear advantage and can better classify volatility.

In addition, it is not written in stone that this high volatility will continue in the future. Despite the radical increase, the crypto market is still comparatively low capitalized and very susceptible to sudden changes in direction. There is reason to believe that volatility will return to normal with higher market capitalisation and possibly return to 2015 and 2016 ratios – in those years Bitcoin had lower volatility than oil and gas.

In summary, while the problem of volatility is real, it may not necessarily be a problem on closer inspection. Fluctuations can also benefit the investor, and they will become smaller as crypto currencies continue to exist. And despite all the fluctuations, Bitcoin and Co. have always set out for a new high after each trough. The long-term development thus points upwards, which could also give long-term or risk-averse investors security.

Bitcoin ABC – Bitcoin Cash Hard Fork scheduled for November

Apparently, the Bitcoin cash community is facing a hard fork. The part of the Bitcoin cash community that is pushing the network upgrade and gathering under the name Bitcoin ABC promises to make better use of the Bitcoin cash protocol and on-chain solutions.

There is disagreement in the Bitcoin Cash community. A part of the community has released Bitcoin ABC 0.18.0 in the hope that the Bitcoin Cash ecosystem will flourish. Their vision is “to create a solid monetary system that can be used by anyone in the world.” In addition, her Bitcoin Cash Network upgrade is a technology that not only has the potential to change civilization, but also “dramatically increases” people’s freedom and prosperity. Those who want to participate should upgrade to Bitcoin ABC version 0.18.0 as soon as possible.

What does Bitcoin secret promise?

Here are the technical innovations of the supposedly better Bitcoin secret Cash in detail: The new opcode OP_CHECKDATASIG. This should improve the BCH script language so that messages can also be validated outside the blockchain. With this you should be able to perform both Oracle and Cross Chain Atomic Contracts.

But the Bitcoin ABC client is not the only innovation in the Bitcoin Cash environment. From the house of nChain, best known for his Chief Scientist Craig Wright, comes a full node implementation called Bitcoin SV. “Satoshi’s Vision” (SV) has set itself the goal of restoring the “original Bitcoin protocol”.

In contrast to the new OpCode, the plan is to reintroduce old Satoshi Op codes (OP_MUL, OP_LSHIFT, OP_RSHIFT and OP_INVERT), which are completely arithmetic operations. The maximum number of possible opcodes per script should be increased and the block size increased to 128 MB.

A possible split?

This announcement not only contradicts the Bitcoin ABC update, but has also been controversially discussed in the Bitcoin cash community: In addition to the patents advanced by nChain, it is the concentration of the hash rate in the hands of Coingeek that is pushing critics. This mining pool, which fully supports the protocol changes around Bitcoin SV, currently represents 30 percent of the hashing power in the Bitcoin Cash network.

As briefly outlined in the latest Tech-ECHO, the community reacted rather cautiously. With the announcement of the 0.18.0 version of Bitcoin ABC, there is now concern about another chain split:

Disagreement is not uncommon in and around Bitcoin Cash. Roger Ver’s project is repeatedly criticized for the fact that the Full Nodes are not really decentralized. Even the idea of taking action against transaction fees with “Miners Choice” did not meet with a positive response everywhere in the community.

It was only in May that the Bitcoin Cash network carried out a hard fork to increase the block size to 32 MB. The Bitcoin ABC network upgrade is scheduled for November 15th.

The kiss of death: Bitcoin, BitMEX and Manipulation

Anthony Pompliano, founder and partner of Morgan Creek Digital Assets, and Travis Kling, founder and CIO of Ikigai Asset Management, held an in-depth discussion on the state of the Bitcoin ecosystem. The interview explains why Kling believes BitMEX is the deathblow for Bitcoin & Co. and what quantum crime is all about. Anthony Pompliano and Travis Kling talk about the Bitcoin ecosystem. About manipulation, Jenga and quantum crime.

Disclaimer: The following text consists of excerpts from a podcast translated from English. They reflect the views of the speakers and do not necessarily reflect the views of the author or BTC-ECHO. First, the two talk about the leverage of BitMEX and how large fish use it to exclude small piers.

Bitcoin, BitMEX and the Kiss of Death

Travis Kling (T): You can now go long and short at Ripple, Tron, Bitcoin Cash, EOS and Cardano. And this with up to 20-fold leverage for some of them, 50-fold for others. And quantitatively, a listing on BitMEX has been the kiss of death so far.

Anthony Pompliano (P): What do you think this is doing to the market?

T: What it has achieved so far is that you can now get prices in two ways.

P: Because before you could only go long.

The worst kind of liquidity

T: Well, you could shorten on BitMEX, but there wasn’t enough liquidity. And now there is just a lot of liquidity on BitMEX […]. Apart from that – and I’m glad you mentioned that – it’s the worst kind of liquidity.

P: Why?

T: That’s at the heart of it. There are extremely big investors, Wall Street guys, like –

P: Like your old world.

T Yes, yes, yes. Not explicitly Point 72, but –

P: That kind of people.

T: Like this kind of people, right. The best in the industry in quantitative terms. I don’t want to name names. One of them rhymes with “lump”. The other rhymes with “BE raw”. So these guys do a liquidity modeling on BitMEX. And the way it works, they contact the network three times a second. […]. And then – I’m not one hundred percent sure how they do it – they can see exactly at which point which prices come about. In relation to the specific volume at the moment and in relation to the bid ask. I think they can take advantage of the leverage used for that specific trade at that particular moment three times per second.

P: Wow.

T: And then they can find out where the stops are. And then they can find out where the stops are accumulating.

P: And then full throttle.