🗞 Daily Crypto News, October, 8th 💰

in #steem • 5 years ago (edited)

  • Bitcoin Bounces Back to $8K From Historically Strong Price Support ;
  • The Silver Lining in Block.One’s SEC ‘Slap on the Wrist’ ;
  • CNBC Crypto Analyst Suggests Bitcoin Price Will Rally Higher ;
  • Class Action Accuses Tether and Bitfinex of Market Manipulation ;
  • Economic Dept. of Dubai Unveils Blockchain-Based Business Registry ;
  • 🗞 Daily Crypto News, October, 8th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Bitcoin Bounces Back to $8K From Historically Strong Price Support

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Bitcoin has again bounced up from the 100-week moving average – a level which has acted as strong support in the previous two weeks and during the early stages of the previous bull market.

The defense of the 100-week MA coupled with the oversold conditions on the daily chart suggests scope for a recovery rally to $8,500.

The case for a bounce would weaken if prices find acceptance below the support level, currently at $7,753. That could pave the way for a slide to $7,200.

🗞 The Silver Lining in Block.One’s SEC ‘Slap on the Wrist’

The only certain thing to say about the implications of any isolated Securities and Exchange Commission case is that it’s risky to assume it sets a precedent. That goes doubly for those in which a settlement is reached with no admission of guilt.

That hasn’t stopped loads of people in the crypto community armchair-analyzing last week’s news of Block.one’s paltry penalty from the SEC over its 2017 sale of EOS ERC-20 tokens. As lawyer Stephen Palley put it over at The Block, “some commentary was useful and a whole lot of it was, well, the kind of blather one expects.”

But that’s not to say one can’t or shouldn’t try to read some tea leaves out of a decision as stunning and historically significant as this one. And while, I’m no lawyer, I am going to go out on a limb and say that, on balance, there are elements in here that the crypto industry should be happy with.

🗞 CNBC Crypto Analyst Suggests Bitcoin Price Will Rally Higher

The $8,000 mark seems to be an important price point for crypto’s market leader, Bitcoin (BTC). Since its breakdown from $9,400, the digital asset has lost and regained the $8,000 level several times, sitting at $8,300 at press time. Much of the time, altcoins follow Bitcoin’s lead in terms of price, making the digital asset’s activity a strong indication of the current market state as a whole.

After a stark $1,700 drop in price on Sept. 24, Bitcoin and the rest of the cryptocurrency market seem to have taken a few steps back regarding the overall trend, which showed significant exuberance in June 2019. According to popular crypto-Twitter analyst Big Cheds, the upcoming days are likely bearish for the crypto space in the short term but the analyst remains bullish over the long term.

🗞 Class Action Accuses Tether and Bitfinex of Market Manipulation

A New York-based legal firm has filed a lawsuit against Tether and Bitfinex, accusing them of cryptocurrency market manipulation.

“Largest bubble in history”

Roche Freedman filed a class-action suit alleging that the stablecoin firm and affiliated crypto exchange have been involved in defrauding investors, manipulating markets and concealing illicit proceeds, the firm’s founding partner Kyle Roche tweeted on Oct. 7.

In the tweet, Roche accused Tether and Bitfinex of creating the “largest bubble in history.”

Filed on Oct. 6, the complaint document states that Bitfinex and Tether primarily accomplished a “sophisticated scheme” involving “part-fraud, part-pump-and-dump, and part-money laundering.”

🗞Economic Dept. of Dubai Unveils Blockchain-Based Business Registry

The Department of Economic Development in Dubai has announced its move to a blockchain-based unified business registry platform (UBRP).

According to a Saudi Gazette report on Oct. 7, the platform aims to improve the ease of doing business in Dubai and enable license issuers to manage trade licenses and corporate registries.
The Silicon Oasis Authority, the Dubai Electricity and Water Authority, and Dubai Multi Commodities Centre have already joined the platform. The UBRP eventually aims to host a total of 40 government entities.

...

🗞 Daily Crypto News, October, 8th 💰

  • Bitcoin CZ (BCZ)

"Mintpaper is the document that describes what $bcz is and the universe we build within this project."

  • Selfkey (KEY)

"We at SelfKey have heard your feedback and are thrilled to announce that we are exiting Beta! Plus some UI improvements too."

  • REOSC Ecosystem (REOSC)

"Forth (stage 4 at block 2 000 000) reduction of POW miner's reward," in Q4 2019.

  • Waves (WAVES)

"Waves Ambassador Emily de Dios will be hosting a local #meetup to present Waves technology and Smart Contracts on 8 October..."

  • Bethereum (BETHER)

Bethereum will hold the 11th AMA with the Core Team! The AMA will take place on October 8th at 1pm GMT+2 on our telegram channel.

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of yersterday :

Here is the current chart :

What did I say to you yesterday ?

"I think all is not lost and that we could reach that level (0.155$) as soon as the BTC will do another UP."

Today the BTC did a nice bounce and STEEM almost make back all the drop that we experience the last 2 days. We need now a little consolidation to go touch my objective of 0.155$ that I'm saying to you since days now. Let's see when it will happen because yeah for me it is just a question of time.

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