Bitcoin 6450 & Ethereum 480 both short targets done
Wednesday, 13 June 2018
Tuesday, 12 June 2018
$97: Litecoin Price Hits Fresh 2018 Low
The price of litecoin (LTC), the world's sixth largest cryptocurrency by market capitalization, fell to a fresh 2018 low on Wednesday.
Data from Bitfinex shows the cryptocurrency slipped to $97.04 today - the lowest level since Dec. 8 in 2017, reflecting a 74 percent decline since its all-time-high at $379 seen on Dec. 19. Further, the price of LTC is also reporting more than 60 percent depreciation since the beginning of this year.
LTC's price decline over the past several months also followed a notable remark by its creator Charlie Lee who stated in a Reddit post on Dec. 20 that he had sold off all his holdings in the cryptocurrency,
Report: Financial Action Task Force to Prepare Binding Rules for Crypto Exchanges
The Financial Action Task Force (FATF), the international group that combats money laundering and terrorism financing, will start developing binding rules for crypto exchanges in June, a Japanese official familiar with the matter told Reuters June 12.
The new rules would be an upgrade to the non-binding resolutions which were adopted by the FATF in June 2015. The FAFT will consider whether existing guidelines on anti-money laundering (AML) measures and reporting suspicious trading activity are still appropriate, and if they can be applied to new exchanges. The intergovernmental organization will also reportedly investigate how to work with countries who have moved to ban cryptocurrencies.
New Trade Organization to Promote Blockchain Established in Switzerland
A new organization called the Capital Markets and Technology Association (CMTA) has been formed in Switzerland in order to facilitate the use of blockchain technologyin financial markets, according to a press release published June 12.
The CMTA was established in Geneva by Swiss leader in online banking Swissquote, market software provider Temenos, and the country’s largest law firm Lenz & Staehelin. According to the press release, the CMTA will focus on creating open standards and toolkits that can be employed by various types of companies to raise capital by applying new technologies and digitalization.
Bitcoin Tumbles to Lowest Level Since February
Bitcoin continued to fall on Wednesday, as the world’s largest digital currency now tumbled to its lowest level since February.
Bitcoin was trading at $6,553.6 by 12:19AM ET (04:19GMT) on the Bitfinex exchange, down 4.1% over the previous 24 hours.
Ethereum, the world’s second largest cryptocurrency by market cap, fell 5.9% at $496.2 on the Bitfinex exchange.
Ripple’s XRP token was down 5.4% to $0.55449 on the Poloniex exchange.
Meanwhile, Litecoin lost 5.9% to $99.34.
Bitcoin has now slid more than 50% for the year, down from a record high of $19,511 it hit in December.
“I don’t think this is driven on any particular news, just the general downtrend after the 2017 run,” Kyle Samani, managing partner at Austin, Texas-based crypto hedge fund Multicoin Capital, said in an email. “A lot of people who bought at $9,000 in April are realizing that they’re not going to break even anytime soon, and are instead trying to get out.”
Cryptocurrency prices were under pressure since the beginning of the week, following news that some of South Korea-based exchange Coinrail’s virtual currency appeared to have been stolen by hackers, and reports that Apple has now banned all on-device crypto mining apps.
Meanwhile, state-run newspaper People’s Daily cited an official at the Shanghai branch of the central bank and reported on June 7 that the nation’s cleanup of initial coin offerings and Bitcoin exchanges has almost been completed.
TRON (TRX): Here is Why June 26 May See The Price Recovering
TRON (TRX) is counting down days to its next milestone - the Super Representative elections happening on June 26. More and more representatives are campaigning for the elections. But the most significant event is the expectation that the TRX market price would finally awaken.The triggering factor behind this is the introduction of Tether (USDT) pairings on Binance. The exchange, which has the largest Tether wallet in existence, has been spreading the USDT asset, letting it move beyond Bitcoin and into select altcoins. This gives the coins an alternative price path, where the final value is determined in trading uncoupled from BTC.
For TRX, the influence of BTC pairs is still extremely large, but lately, the share of USDT trading expanded to 18%. In this, TRX is similar to EOS, which moves counter to the market, and sees its price defy the drop of BTC with better resilience. Warnings apply that USDT trading may artificially inflate the price.
TRX lost more than 27% in the last week, as the markets turned to red and continue the slide. TRX traded at $0.043, down a net 9.3% in the past 24 hours alone. Now, TRX might have to fight to regain positions, and hope for a positive effect from the elections.
!TRON!
TRON has taken care to create a simple and intuitive voting process through its wallet, unlike the EOS vote which relies on third party sites and command line prompts. The requirement is to freeze TRX tokens for three days in order to vote. However, it is unknown how many new TRON wallets are out there, and how many withdrawals from exchanges would be needed.
On a more positive note, the Ledger team has reached out to TRON for achieving the best way to include the TRX asset in hardware storage. The biggest challenge would be to create a cold storage wallet that also has functionalities to lock tokens and vote. But just the inclusion of TRX on the popular hardware wallet would help the project spread to a wider group of investors.
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