Freakerz NEWSCAST 📮 10-10-2019

📮 10-10-2019

📈 MarketCap: $231 B

📊 24h Mcap %: 2.19%

⚠️ Bitcoin Dom: 66.1%

Active Coins: 2,599
24h Vol %: 38.92%
24h Vol: $58 B

1. Bitcoin has suddenly jumped by $500, up from circa $8,200 to a recent high of $8,700 to currently trade at $8,600 at the time of writing. The rise was on significantly increased volumes, with the latest candle showing the exchange of 322 bitcoins during a two hours period, while previous candles were at 20-50 bitcoin or less on Coinbase. Ethereum moved a bit earlier and a bit faster, rising from $179 to $195 before trading at $190 at the time of writing.

2. Bitcoin has broken out of the down-sloping flag and the RSI has formed a positive divergence, which are bullish signs. ETH has broken out of the moving averages. If the bulls can sustain the price above $185.566, a rally to $223.999 is possible. XRP has risen above the overhead resistance of $0.27795 but the bulls are struggling to sustain above it. BCH has broken above the overhead resistance of $236.08 and the bulls are currently attempting to push it above the 20-day EMA.

3. United Kingdom-based financial software firm Finastra has partnered with Ripple to join RippleNet, a global blockchain payments network with over 200 members. The new partnership will allow hundreds of Finastra’s customers to connect and transact with RippleNet to provide faster and cheaper cross-border payments. Over 200 financial institutions on RippleNet will have access to Finastra’s network of banks, allowing mutual customers to access and partner with each other.

4. The U.S. Internal Revenue Service has released it's crypto tax guidance on how it will tax cryptocurrency holdings. As per Guidance when a certain coin goes through a hard fork, its owners are supposed to pay taxes only when they receive new crypto, it has to be recorded on a Blockchain. Otherwise, they don't have any taxable income. IRS document also offers clarification on how to determine the cost basis. The IRS has clarified that your cost basis is the amount of USD spent to acquire cryptocurrency that includes fees and other costs.

5. The final application for an exchange-traded fund tied to the cryptocurrency has been denied by the Securities and Exchange Commission. Bitwise's Bitcoin ETF Trust would have tracked the spot price for bitcoin had it been approved. It was originally filed with the agency on Jan. 28, and in March the commission granted a longer period to consider the new product. The denial of the fund follows the rejection of VanEck's similar bitcoin ETF last month.

6. Mark Zuckerberg is going to Washington this month, where he'll face lawmakers who are skeptical of Facebook's plans to establish its own cryptocurrency. Facebook CEO will testify before the House Financial Services Committee on October 23, Rep. Maxine Waters announced Wednesday. Zuckerberg will testify as the sole witness at a hearing entitled "An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors." Zuckerberg will likely face tough questions from lawmakers about Libra.

7. Rune Christensen, the CEO of the Maker Foundation, has revealed that the Multi-Collateral Dai (MCD) system will be launched on Nov. 18. Two core features of the Maker protocol will be heralded by its launch: first, the Dai Savings Rate (DSR) — an MCD feature that allows DAI stablecoin holders to lock their tokens in a smart contract to earn additional ones — as in a savings account. Second, It will provide new collateral types for Collateralized Debt Positions — another smart contract integral to the Dai stablecoin system.

8. In the past week, Bakkt was thought to be struggling, leading many to wonder whether these so-called ‘institutional investors’ for Bitcoin even existed at all. However, it looks like the exchange is now rebounding in trading volume. On Oct 9, the Bakkt futures exchange posted an all-time high of 224 BTC of daily traded volume. Just a day before, the exchange posted an abysmal 25 BTC of daily traded volume, the lowest ever recorded on the exchange. That’s a 796% increase essentially overnight.

9. American cryptocurrency exchange Coinbase seems to be heading towards expansion, following the addition of several cryptocurrencies to its network. In a recent update, the exchange has announced its intention of supporting messaging giant Telegram’s yet-to-be launched cryptocurrency, GRAM. The exchange also revealed its plans for supporting two other potential currencies, namely, Solana’s SOL and Orchid’s OXT. The announced came out after it recently announced that it is considering listing about 8 new digital assets.

10. The Central Bank of the Russian Federation is not keen on issuing a national digital currency. Elvira Nabiullina, head of the central bank, said that the regulator has been studying a topic of digital currencies, but sees no obvious need to issue a national cryptocurrency. “Not only for technological reasons, but also because it is (difficult) to really estimate what advantages will the national digital currency give, in comparison with existing electronic non-cash payments." Nabiullina added.

11. Binance opened its Bitcoin Futures trading on 11 September. Ever since the launch, Bitcoin Futures have been a hit among BTC traders. It has been almost a month since the platform went live and Bitcoin Futures have now overtaken Bitcoin’s spot trading volume. The 24-hour trading volume for Bitcoin on Binance.com was reported to be 68,239.99 BTC [$582 Million], at press time, while the spot trading volume of Bitcoin on Binance was noted to be $529 million, at press time.