Bitcoin price has remained above $10,000 despite its rapid retrace over the weekend when market momentum suddenly fizzled out.

Vays Hints At ‘Bullish’ Daily, Weekly Outlook

After passing $11,000 in Sunday trading, BTC/USD peaked at $11,283 on Bitstamp before dropping $1500 in hours to hit a low of $9727.

A correction took prices back over $10,000 where they remained into Monday, analysts predicting a ‘flip’ into bullish territory as Bitcoin’s most likely next move.

“The daily [chart] remains bullish and the weekly wants to flip bullish,” Tone Vays told viewers of his latest online trading seminar released late Sunday.

As of press time, BTC/USD was centering around $11,000 once again, having risen performed a three-hour uptick of $500.

Vays had correctly forecast a bearish environment when Bitcoinist reported on the previous week’s trading outlook, with resistance set to kick in at $10,300. Now, he says, “clear support and resistance” needs to establish in order for Bitcoin to become “more predictable” than it has been so far in February.

Moas Doubles Down On All-Time High In 2018

Bitcoin’s bounce off sub-$6000 lows in 2018 has meanwhile given rise to renewed optimism from its investment community’s more outspoken supporters.

Ronnie Moas, who had previously given conspicuously bullish price forecasts, told the mainstream press that a fair valuation for the rest of the year sets Bitcoin at $28,000 – still $8000 more than its all-time high from December 2017.

A six-figure price, however, is off the table for Moas.

“I don’t know how anybody could set and justify a price target that high for this year,” he commented to the New York Times.

Across cryptocurrency markets, altcoins followed Bitcoin upwards, posting modest gains of around 5% in the 24 hours to press time. Ethereum Classic (ETC) meanwhile jumped close to 17% to approach all-time USD highs achieved earlier in January.  

What do you think about Bitcoin’s price outlook this year? Let us know in the comments below!

Images courtesy of Twitter, Shutterstock

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After yesterday’s negative trading pressure, most cryptocurrency markets are showing some positive momentum as of right now. The Ethereum Classic price shows a lot of upward momentum as of right now, thanks to a solid 17.7% gain in the past 24 hours. Whether or not this means the Ethereum Classic price will surpass $40 or higher later today, remains a big question, though.

Ethereum Classic Price is Looking Pretty Solid

It has become rather evident most cryptocurrency markets will see a strong bounce throughout 2018. Even though it is unclear whether or not that means we will see significant increases in the coming days or weeks, the momentum is certainly turning in favor of cryptocurrencies once again. Especially in the altcoin department, things are looking up once again, which is positive news for the people speculating on the Ethereum Classic price as of right now.

To put this into perspective, the Ethereum Classic price has risen by 17.7% in the past 24 hours. That in itself is a rather significant gain for any cryptocurrency, let alone an altcoin. This massive increase puts the Ethereum Classic price back above $38.4, and it is likely we will see it hit $40 in the coming hours. Reaching a new all-time high is not out of the question either, although the Ethereum Classic price will need to push past $45.51 to make that happen.

It is also worth noting the Ethereum Classic price is rising thanks to solid gains in the ETC/BTC ratio. With Ethereum Classic rising by 12.11% in favor of Bitcoin, it is evident there is a lot more progress to be made in the future. After all, most altcoins are trying to decouple from Bitcoin’s volatility as of right now, yet very few of them are successful in doing so. Every new rise in the altcoin/BTC ratio will bring us one step closer to seeing altcoins perform independently of Bitcoin in the future, although no major shakeups will occur in the coming weeks or months.

With $692m in 24-hour trading volume, things are not looking all that bad for Ethereum Classic right now. The vast majority of top altcoins still struggle to get past $250m in 24-hour trading volume, and it is evident that trend will not change anytime soon. For some reason, there is less demand to trade all cryptocurrencies in general, which makes it rather difficult to note anything positive in this regard. If ETC can generate nearly $700m in volume, there’s no reason to think other altcoins can’t do the same in the future, though.

For once, it’s not the Korean exchanges driving most of the Ethereum Classic trading volume. That being said, we do see both Bithumb and Upbit in the top five, but the leading exchange by trading volume is OKEx as of right now.This exchange also ranks third with their USDT trading market, which is rather surprising. Penance completes the top five with $52.45m in 24-hour trading volume, which is not too shabby either. All things considered, the volume seems healthy enough to push the Ethereum Classic price up even further in the coming hours.

For the time being, Ethereum Classic is perhaps the best market for altcoin trading as of right now. We also see the other markets turn green again, which will effectively allow for other currencies to flourish in the near future. With these current Ethereum Classic price gains, it may be best for most users to take profits and hold onto the rest, as the markets can turn volatility at any given time. Then again, with the Ethereum Classic price so close to setting a new all-time high, holding your balance is also a viable option if you enjoy taking risks.

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As demand returns to the markets South Korea is once again leading the way for trade volume. Bitcoin recorded a monthly high trading volume on exchanges in the country as fears of clampdowns subside and confidence returns to the crypto markets.

Local media reported that domestic Bitcoin trading volume reached a maximum value in the month following the holiday season. Over $250 million has been traded in BTC on South Korea’s leading exchange Bithumb in the past 24 hours.

New Bitcoin Trade Volume High

The recorded volume on the 19th was the largest in a month indicating a steady return to crypto trading for South Koreans. Over 84,979 Bitcoins were traded at a value of 1.24 trillion won. This is higher than the last peak level on January 20 when 80,829 BTC were traded. The surge rose more than half of the 16 day trading volume of 42,094 Bitcoins two days ago, and the 17 day trading volume was only 58,329 coins. The Kimchi premium, which shows overheating in the domestic market, also stood at around 6-7%.

During the big dip on February 6 Bitcoin prices fell lower in South Korea than elsewhere however it has since doubled in less than two weeks. Transaction volume has increased with the inflating price and a lot of investors got in at a psychologically significant 10 million won price level ($9,300). Positive conclusions from crypto conferences in the US, and self-regulatory bodies being setup in Japan, has boosted buoyancy in the markets and traders are returning.

Bitcoin is currently trading at $11,420 on Bithumb, and $10,800 internationally. There are often discrepancies in prices on Asian exchanges as demand is greater. The fact that a new volume level has been reached is a positive indicator for the state of the markets in general, South Korea is once again leading the way back to full confidence in cryptocurrencies.

According to Coinmarketcap Bithumb is the world’s fifth largest exchange with over a billion dollars in daily trade for all crypto assets. Ripple is currently the top traded coin on the exchange with over $300 million traded in XRP/KRW in the past 24 hours. It accounts for 30% of the total volume on that exchange with Bitcoin second at 24% and EOS third at 12.5%.

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Self-regulation in the blockchain and cryptocurrency industry is becoming the new norm. In Croatia, there is now a self-regulating body known as UBIK. This venture will also work toward regulating this nascent industry in the coming years.

UBIK Aims to Legitimize Cryptocurrency

Croatia is not a country most people associate with blockchain and cryptocurrency. To improve the situation, this self-regulating blockchain and cryptocurrency organization was created. UBIK aims to spread cryptocurrency and blockchain awareness first and foremost. There is also an effort toward regulating cryptocurrency in Croatia, although no further specifics were revealed at this time.

UBIK has officially registered with the government on February 13th. After receiving approval on the 17th, the “agency” officially began its operations. With over 70 members already joining UBIK, it has become evident there is a  growing interest in cryptocurrency and blockchain technology.

The project’s creators also met with officials from the Central Office of Tax Administration.  During that meeting, the topic of cryptocurrency taxation was discussed. For now, it seems as if the focus is on capital gains tax, although things can always change. Additionally, UBIK wants to focus on a regulatory framework for initial coin offerings, yet it is unclear how they plan to do so exactly.

Creating a more favorable environment for cryptocurrency and blockchain startups is not easy. So far, the Croatian government has not taken an official stance against these technologies. Instead, there appears to be a more level-headed approach. This self-regulating body appears to have the full support of the government as of right now.

Beware of the Many Scams

One thing that becomes evident is how most companies will need to register with the government. Moreover, the capital collected should come directly to the country as well. This will aid in creating and growing a database of industry experts. Collecting a list of companies active in the blockchain and cryptocurrency world will benefit the ecosystem in the long run. No further details were provided in the registration process itself at this time.

Efforts like these will prevent novice users from falling for scams. There is a mounting number of scams popping up in the cryptocurrency world. Especially where Ethereum and Litecoin are concerned, there is an increasing amount of projects which appear shady first and foremost. Only dealing with registered companies in Croatia will help create a more legitimate ecosystem in the long run.

We have seen government agencies crack down on cryptocurrency-related scams all over the world. The SEC is making a positive impact in this regard over the past few months. With UBIK also focusing on weeding out the illicit projects, things will only improve from here on out. Protecting consumers from financial harm is the top priority as of right now.

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White House cybersecurity coordinator and special assistant to the president, Rob Joyce, stated the US still has a long road ahead of it before it starts regulating the world’s first cryptocurrency.

Haste makes waste

Bitcoin investors in the US worried about government regulation need not start sweating, yet.

At the Munich Security Conference in Germany, Joyce — a nearly three-decade veteran of the National Security Agency who helps coordinate policy strategy in regards to cybersecurity between the government, private companies, non-governmental organizations and other countries — emphasized the importance of taking a measured approach to Bitcoin and the cryptocurrency space, as opposed to rushing in with government regulation which could have unintended consequences.

Joyce said:

I think we’re still absolutely studying and understanding what the good ideas and bad ideas in that space are. So, I don’t think [government regulation is] close.

Still, Joyce recognizes the already-proven criminal potential within the cryptocurrency space. As reported by CNBC — which incorrectly claims Bitcoin transactions are “completely anonymous” — Joyce doesn’t gloss over the inherent difficulties involved with monitoring criminal transactions across the blockchain, explaining:

We are worried. There are benefits to the bitcoin concept — digital cash, digital currencies. But at the same time, if you look at the way bitcoin works after there is a criminal act that takes place, you can’t rewind the clock and take back that currency.

Unlike banks and credit card companies which can reverse fraudulent transactions, for example, Bitcoin and other cryptocurrencies have virtually no means to protect those whose funds have been stolen.

“With the current instantiation of bitcoin and other cryptocurrencies, we haven’t figured that out yet,” said Joyce. “So it’s a problem.”

Nevertheless, the fact that the White House and US government are taking a measured approach to the regulation of Bitcoin and other cryptocurrencies can be taken as a positive sign in the face of what often feels like never-ending regulatory FUD.

To regulate, or not to regulate?

Internationally, cryptocurrency regulation remains a mixed bag.

French Finance Minister Bruno le Maire and interim German Finance Minister Peter Altmaier have called for a global crypto crackdown, fearing global financial instability, while British Prime Minister Theresa May has also expressed concerns over cryptocurrency’s criminal usage, stating that she is looking “very seriously” at cryptocurrencies “because of the way they are used, particularly by criminals.”

Cryptocurrencies: Death by Regulation Strangulation

China remains firm on eradicating cryptocurrency trading from its borders, while India continues to send mixed messages — despite having no interest in banning Bitcoin.

Switzerland, on the other hand, remains as crypto-friendly as ever.

Are you happy to hear that the US isn’t rushing into Bitcoin regulation? Where do you see cryptocurrency regulation going internationally in 2018? Let us know in the comments below!

Images courtesy of Shutterstock, Bitcoinist archives.

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Hackers have discovered that the easiest and most direct way to steal cryptocurrency is to first steal phone numbers.

Hijacked phone numbers are used to drain crypto accounts

A growing number of online crimes begin with hackers persuading cellular phone companies to transfer a victim’s number to a device of their own. In many cases this allows the hacker to reset account passwords that use the phone number as a backup security measure gaining access to email, social media, and cryptocurrency accounts.

Though many who have been hacked this way are reluctant to admit the crime even highly successful, technical savvy investors have been targeted. Case in point Joby Weeks lost control of his phone number and subsequently, a million dollars worth of cryptocurrency was drained from his accounts. This despite requesting that his phone company add additional security measures after his wife and parents had their numbers stolen.

“Everybody I know in the cryptocurrency space has gotten their phone number stolen,” said Joby Weeks.

Hackers seem to home in on those most active on social media platforms related to trading crypto-currency. Experts giving advice on forums and even consultants that appear on mainstream media talking about investing have been successfully targeted through this method.

Bump up your security

This rash of phone porting is the unintended result of what was supposed to be a security upgrade known as two-factor authentication. Many email providers and financial services require phone numbers to be added to passwords in order to verify a users identity not seeing how easily the system could be reversed.

Service providers have taken it upon themselves to upgrade their own security measures by including more complicated PIN’s and adding complex security questions as a requirement for making changes. The problem is that customer service agents still have leeway to allow changes on a case to case basis.

“These guys will sit and call 600 times before they get through and get an agent on the line that’s an idiot,”

Mr. Weeks said.

There are many measures anyone can take to make their accounts more hack proof.

  • Add a password to mobile phone accounts.
  • Create an email address specifically for use with cryptocurrency accounts.
  • Use a phone number for cryptocurrency accounts that you don’t use for anything else.
  • Enable two-factor identification using google authenticator, not SMS text messaging.
  • Change passwords frequently and never use the same one on multiple accounts.

Probably the two most important ways to secure cryptocurrency is to first hold it in a secure (offline) multi-signature wallet and to keep a low profile online and in life about your trading activity.

In the end, no amount of precaution can stop dedicated hackers if they really want to access information. The goal is to become a less inviting target. It’s like the line about meeting a bear in the woods while hiking, it’s not necessary to outrun the bear just the other people.

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Key Highlights

  • Ripple price after an upside move faced a strong resistance at $1.1500 against the US dollar.
  • There was a break below a connecting bullish trend line with support at $1.0800 on the hourly chart of the XRP/USD pair (data source from SimpleFx).
  • The pair is currently holding the $1.00 support, but it is struggling to move higher.

Ripple price made a downside move recently against the US Dollar and Bitcoin. XRP/USD must stay above the $1.0000 support area to avoid further declines.

Ripple Price Resistance

There was a substantial recovery above $1.10 this past week in Ripple price against the US Dollar. The price traded above the $1.12 and $1.14 level, but it could not break the $1.15 resistance. It formed a high at $1.1508 and later started a downside move. It declined and broke the $1.10 support area to settle below the 100 hourly simple moving average.

During the downside, there was a break below a connecting bullish trend line with support at $1.0800 on the hourly chart of the XRP/USD pair. However, the downside move was protected by the $1.0000 support. A low was formed at $1.0055 before the price started an upside correction. It traded above the 23.6% Fib retracement level of the last decline from the 1.1508 high to $1.0055 low. However, the upside move was protected by the $1.06 level and the 100 hourly SMA. On the upside, there is a bearish trend line with resistance at $1.0700 on the same chart.

Ripple Price Technical Analysis XRP USD

Therefore, an upside move above $1.06 and $1.07 won’t be easy. On the downside, the pair must hold the $1.00 support level to avoid further declines. Below $1.00, the price may decline towards $0.8500 in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is currently in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well below the 50 level.

Major Support Level – $1.0000

Major Resistance Level – $1.0700


Charts courtesy – SimpleFX

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Security experts advise on how to keep yourself and your digital coin safe from  thieves that focus on the crypto-wealthy.

Criminals targeting cryptocurrency investors

Cases of thieves targeting those who have gotten wealthy from the boom in Bitcoin, Ethereum and other digital currencies are on the rise worldwide. From Phuket, Thailand, to Manhattan to the Ukraine, stories of kidnappings and even killings for access to peoples Bitcoin is becoming a staple in the world news.

Fiat currency accounts in traditional banks and other holding systems have elaborate checks and countermeasures developed over a long time against thieves. The anonymous nature of cryptocurrency though assures criminals that once they have access to and can transfer the information to their own wallets it is nearly impossible to track down their identities.

Chainalysis is a company that specializes in tracing criminal activity on the Blockchain. Jonathan Levin the founder of the company has assisted law enforcement all over the world to try and track down stolen Bitcoin and its like.

Even when a transaction can be tracked through the Blockchain ledger though the anonymous design of cryptocurrency allows criminals not to have their true identities linked to their accounts. This is where the trail goes cold and not much more can be done.

“For this [crime], the advantage of Bitcoin is that it’s hard to verify,” said Chanut Hongsitthichaikul an investigator with the Chalong Police Station in reference to the extortion case in Thailand that involved a young Russian couple who were held in their apartment by armed assailants until $100,000 worth of cryptocurrency was transferred.

The police were able to track the victim’s laptop to Kuala Lumpur where it was discarded and that was where the investigation ended.

“This is now becoming more pervasive and touching more law enforcement divisions that deal with organized crime and violent crime on a local level,”

Jonathan Levin, founder of Chainalysis.

New security being developed

Recently a group of about 170 leaders in the crypto world held a panel discussion about security in Cancun Mexico. Calling the meeting the Satoshi roundtable the group discussed how individuals could protect themselves and their holdings from crypto thieves.

One measure that came from the meetings was having a ‘duress wallet’. That is a wallet with a small amount of currency to throw thieves off the trail of larger holdings.

Overall security advisers agree one the best measures presently is to keep your holdings in a multi-signature wallet. That is a wallet that requires at least two people to sign in for a transaction to be completed and for one of those people to be off location, perhaps an attorney.

Programmers are also in the process of creating wallets with built-in stress codes. Like duress alarms in banks, these codes can be triggered to inform either private security or law enforcement directly while a person is forced to make a transaction.

Perhaps the best and easiest way to protect yourself and your crypto-currency is to keep a low profile. In at least one high profile case the robbery was perpetrated after the victim had told his friend about his newly acquired crypto-fortune.

The post Protect Yourself And Your Cryptocurrency From Real Criminals appeared first on NewsBTC.

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Key Highlights

  • ETH price is correcting lower, but it is holding the $900 support area against the US Dollar.
  • There is a short-term bearish trend line forming with resistance at $920 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair is now below the 100 hourly simple moving average and $950, which are likely to act as resistances.

Ethereum price is moving lower further against the US Dollar and Bitcoin. ETH/USD has to hold the $900 support level to remain in a bullish trend.

Ethereum Price Support

There was a nice upside move above $940 this past week in ETH price against the US Dollar. The price traded above the $950 level, but it could not test the $1,000 level. A high was formed at $970 from where a downside correction was initiated. It moved down and broke the 38.2% Fib retracement level of the last wave from the $868 low to $970 high.

There was also a break below the $925 support and the 100 hourly simple moving average. However, the downside move was protected by the $900 support. A low was formed at $895 and the price started an upside correction. It traded above the 23.6% Fib retracement level of the last decline from the $970 high to $895 low. However, the price failed to gain upside momentum above the $930 level and the 100 hourly SMA. It failed to break the 50% Fib retracement level of the last decline from the $970 high to $895 low.

Ethereum Price Technical Analysis ETH USD

On the upside, there is a short-term bearish trend line forming with resistance at $920 on the hourly chart of ETH/USD. As long as the pair is below the trend line, $930 and 100 hourly SMA, it could continue to struggle.

Hourly MACD – The MACD has moved into the bearish zone.

Hourly RSI – The RSI is now well below the 50 level and is showing bearish signs.

Major Support Level – $900

Major Resistance Level – $930


Charts courtesy – SimpleFX

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FOMO Moments

A Sunday pull-back is becoming almost regularity in the crypto markets and a red Monday morning is the result.  Bitcoin made it to a weekly high of $11,300 before cooling off a little and retreating back to $10,600 where it currently trades. The correction has taken all of the altcoins with it and most are in the red during the Asian trading session this morning.

To find one that is performing well we need to leave the top 25 once more and go further down the chart. Nothing really stands out in the top 50 which takes us all the way down to 71 and a token called Polymath which is trading 16.3% higher. This newcomer to the altcoin world is trading at $1.35 up from $1.11 yesterday while all others are in decline.

Polymath is a securities based token which aims to allow them to be migrated to the blockchain. According to the white paper, which has only been published this month, Polymath provides a decentralized protocol for trading security tokens enabling s individuals and institutions to authenticate their identity, residency, and accreditation status to participate in a wide range of security token offerings. Using the network organizations and companies can launch ST20 tokens that are already automatically legally compliant and regulated security tokens. Tickets for their up and coming Polycon security token conference in the Bahamas have already sold out.

Interest in POLY, which has only really been traded on the Kucoin exchange since early February, spiked on the 12th. Current market capacity sits at $318 million and there are 1 billion POLY tokens available with 239 million currently circulating.

The only cryptocurrency in the top 25 showing a slight gain this morning is Ethereum Classic, up 0.75% to $34.39.


More on Neo can be found here:

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals. 

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