CoinSheet - March 13, 2018
"No wealth can ever make a bad man at peace with himself."
-Plato
CoinSheet #174
COIN BULLETIN
Korea to potentially allow ICO’s with new regulations
The South Korean ban on ICOs may be revoked by the same financial authorities that banned ICOs last year.
You can read more about this here and here.
Cryptocurrencies: Last Week Tonight with John Oliver
Check out this hilarious segment that aired on Sunday.
Does this mean crypto is mainstream?
What else is going on...
1.New tax tools on Coinbase
2.Binance Offers $250k Bounty Leading To Hackers’ Arrest
3.Genesis Mining Hit With Cease-and-Desist Order
4.Twitter Steps Up Efforts to Fight Cryptocurrency Scams
THINGS I LIKE
Chasing fake volume: a crypto-plague
Sylvain Ribes writes about how he believes more than $3 billion of all cryptoassets’ volume to be fabricated, and how OKex, #1 exchange rated by volume, is the main offender with up to 93% of its volume being nonexistent.
He attempts to prove this by analyzing publicly available data.
TL;DR - OKex and Huobi probably mostly have fake volume
You can read his article here.
MARKET SENTIMENT
Top 5 Winners
Top 5 Losers
Binance has recently published an official statement announcing the launch of the development of Binance Chain, probably why we're seeing some pumpage.
Technicals
We have daily TD9 on Ethereum, which tends to be a strong bullish indicator, and we do see selling pressure slowing down.
With that said, I would wait for buy volume to increase before confirming any moves.
Bitcoin
One of the causes of the market crash the past few days was a huge BTC sale by the Mt. Gox trustee, which "sold 35,841 BTC for $362 million and 34,008 BCH for $45 million".
We're still in a bearish downtrend. The next big zone to watch from a macro level is when we test this downtrend channel resistance.
