Cryptocurrencies Market Overview - April 11, 2018

Today in the news:

• The crypto markets are green again as Ethereum's price breezes past $420.
• 22 European countries have jointly established a new blockchain group to share technical and regulatory expertise.
• Telegram is likely to cancel its public ICO after two private sales. Are this just rumors? It's not confirmed by Telegram yet.
• And much more crypto news below...

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Latest Crypto News - April 11, 2018

Bitcoin Price Moves Closer to $7,000 as Cryptocurrency Market Posts Small Gain

The bitcoin price has been relatively stable over the past 48 hours, in the $6,800 region. After a minor drop from $7,100 to $6,700, the bitcoin price has been able to sustain its resistance level, rebounding from its decline.
_{Read more: www.ccn.com}

Other sources:

• Trapped Below $7K: Is Bitcoin Prepping for a Big Breakout?

Ethereum Price Breezes Past $415 as Bitcoin Dominance Index Drops

It is rather surprising to see most cryptocurrencies in the green over the past 24 hours. While this momentum is more than welcome, it still remains to be seen how long all of this will last. If the previous weeks are any indication, things will turn around quickly. For now, the Ethereum price is one of the stronger gainers on the market, pushing its value back to $416.6.
_{Read more: themerkle.com}

22 Countries Sign Declaration For European Blockchain Partnership

The European Commission’s (EC) Digital Day 2018 has led to the signing of a Declaration to create a European Blockchain Partnership made of up 22 countries, according to an April 10 European Commission press release.
_{Read more: cointelegraph.com}

Other sources:

• 22 European Nations Form New Blockchain Partnership
• EC Launches Blockchain Partnership Initiative at EU DD18
• The European Blockchain Partnership Signed, €300 Million Allocated to Blockchain Projects

Blockchain Is 'Going Mainstream' Says European Commission Official

An executive from the institution tasked with overseeing European regulation is offering new praise for blockchain technology. In a speech Tuesday, European Commission (EC) vice president Andrus Ansip went so far as to highlight distributed ledger tech, calling it one of "the areas where Europe is best positioned to play a leading role," with the caveat that the continent needs to invest much more in its technology sector.
_{Read more: www.coindesk.com}

Other sources:

• European Commission Urges EU To Play ‘Leading Role’ In Blockchain Dev

Bear Market 'Largely Over,' Crypto Fund Manager Claims

Timothy Enneking, managing director of Crypto Asset Managment, LP, said that the winter in cryptocurrency markets is "largely over."
_{Read more: www.coindesk.com}

Large Retail Investors See an Opportunity in Bitcoin Despite Price Decline

The bitcoin price has been on a decline since January, and analysts believe the mid-term correction of bitcoin was caused by the massive sell-off by Fortress and Mt. Gox trustee. Still, retail investors are seeing a good opportunity to enter the cryptocurrency market.
_{Read more: www.ccn.com}

The Wait for Grams: Why Telegram Might Just Cancel Its Public ICO

While half of the ambitious $1.2 billion the messaging giant hoped to raise was supposed to come from an ICO open to public investors, recent SEC filings confirm Telegram has already raised $1.7 billion from two private sales. Now, sources with knowledge of the deal believe the company is likely to scrap its public sale altogether.
_{Read more: www.coindesk.com}

YouTubers Are Switching to DTube Following Crypto Ad Ban

YouTube, the biggest video-sharing platform, is facing an exodus from its platform due to censorship. The ban on crypto-related ads has also propelled businesses associated with the space to look for alternative platforms. Moreover, YouTube, Facebook, and Twitter are centralized platforms, where data is fully controlled by them. Therefore, numerous concerned users are switching to decentralized platforms, where no single entity controls the data.
_{Read more: bitsonline.com}

Philippines’ SEC Demands Crypto Cloud Mining Contracts To Be Registered As Securities

The Philippines Securities and Exchange Commission (SEC) issued an advisory on Cryptocurrency Cloud Mining Contracts that applies the Howey Test to classify these contracts as securities, the SEC outlined April 10. Cloud Mining contracts fall within the purview of securities law because they are “investment contracts,” whereby investors stake the mining capacity of a remote datacenter through the contract, which can itself then further be traded.
_{Read more: cointelegraph.com}

Other sources:

• Cloud Mining Contracts Are Securities, Says Philippines SEC

Taiwan Moves to Capture Bitcoin Under Money Laundering Laws

The government of Taiwan has moved a step closer to regulating bitcoin under anti-money laundering (AML) rules. In an announcement on Tuesday, the state's Ministry of Finance said it will push for the regulation of cryptocurrencies under same AML rules already covering the traditional financial sector.
_{Read more: www.coindesk.com}

Other sources:

• Taiwan: Finance Ministry Confirms Crypto Regulation Using Existing AML Laws

EOS Price Retakes $6.6 Level Thanks to Brief Positive Momentum

Today may certainly prove to be a rather interesting day for all cryptocurrency markets. Although it is still early to say whether or not the upward momentum can remain in place, things certainly look pretty interesting for some currencies. The EOS price, for example, has increased by 11.5% of over the past 24 hours, although it remains unclear when the next big dip will materialize.
_{Read more: themerkle.com}

Complete guide to Proof of Stake – Ethereum’s latest proposal & Vitalik Buterin interview

In this piece we examine proof of stake (PoS) consensus systems. We look at their theoretical advantages and weaknesses. We then analyse the specific details of some of the most prominent and novel PoS systems attempted thus far, where we learnt that a pure PoS system becomes increasingly complex to the point in which it seems unrealistic.
_{Read more: blog.bitmex.com}

Crypto Exchange Bittrex Is Taking New Customers Again

Seattle-based cryptocurrency exchange Bittrex is now accepting new user registrations. New users can sign up through the exchange's revamped website, the startup announced Tuesday. Registrations were initially paused in December due to saturated capacity and new users were enrolled through a waiting list program over the past few months, according to a statement. All customers will have to complete identity verification procedures to finish their signups.
_{Read more: www.coindesk.com}

Media Hype Falsely Reports Bitcoin As ‘Greatest Bubble In History’

Bank of America (BoA) tracked the “greatest asset price bubbles in history:” Bitcoin, tulips, the Mississippi Company, the South Sea company, gold, and the 1929 crash on the chart below, concluding that Bitcoin is the “greatest bubble in history,” according to an April 9 Bloomberg article - a claim apparently untrue both in the history of bubbles and the history of Bitcoin.
_{Read more: cointelegraph.com}

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