We present to you the report filed by the analysts of our private club for November 26 — December 2, 2018.
Key market events in the period for November 26 — December 2, 2018
- The number of searches for the keyword “bitcoin” in Google reached a peak since April 2018.
- China is building a “prison on the blockchain.” Untrustworthy people (12 million people) will face restrictions related to the use of air travel and trains and the admission of their children to good kindergartens and schools. They were even denied love. No love for people with low social rating. This is going to stay for good.
- The German Ministry of Economics and Energy aims to use blockchains to pay taxes in order to combat fraud.
- In Ohio, the authorities allowed companies under the jurisdiction of the state to pay taxes and fees with bitcoins.
- Due to the fall in Bitcoin prices and hash rate, roughly 800,000 F2pool bitcoin miners stopped mining cryptocurrency.
- The Bitcoin SV team abandoned the claims on the original Bitcoin Cash chain and announced plans to focus on creating its own applications in the roadmap.
- NASDAQ exchange will start issuing bitcoin futures in the first half of 2019.
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8.Vitalik Buterin said that the blockchain only makes sense when it comes to cross-border payments and cryptocurrencies. Other applications are a waste of time and technology potential.
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Vitalik Buterin was awarded an honorary doctorate of the University of Basel for achievements in the field of cryptocurrency and smart contracts.
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SEC Chairman Jay Clayton stated that the SEC does not consider digital currencies, including Bitcoin, as securities, but many ICOs fall under this definition.
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Al Hilal Bank in Abu Dhabi made a deal in the secondary market worth $500 million using Islamic sukuk blockchain bonds.
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SEC Chairman Jay Clayton said that before approving the launch of Bitcoin-ETF, the crypto industry should eliminate the main obstacle — market manipulation.
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Coinbase will launch its own OTC platform and expand its range of services in 2019.
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Amazon created the Amazon Managed Blockchain platform to facilitate the development of decentralized networks.
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An entrepreneur who installed Bitcoin ATMs in several cities of Russia was accused by the Irkutsk prosecutor’s office of money laundering and faced a fine in the amount of 50,000 rubles.
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On November 27, the Head of Digital Currency Group Barry Silbert said on CNBC that the ICO market is dead due to the lack of demand for the coins. He considers institutional investors’ interest in cryptocurrency a good sign.
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Sberbank and a company from the Interros group made the first electronic OTC repo transaction on a blockchain platform developed by Sberbank.
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The CEO of the Intercontinental Exchange (ICE) and Chairman of the New York Stock Exchange (NYSE) Jeffrey Sprecher is confident that cryptocurrency has a great future in regulated markets.
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JP Morgan and Citigroup became the first users of the payment system for mutual settlements on the blockchain CLSNet, with the support of CLS and IBM.
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CNBC analyst Brian Kelly: “The number of transactions is growing. If the number of transactions on the Bitcoin network was dropping, then I would have a reason to be concerned.”
2. Market analytics from club experts for November 26 — December 2, 2018
The last week restored confidence within some of the crypto traders and investors who were starting to get frustrated. BTC price bounced back to $4,200. At the beginning of the week, the total capitalization of the crypto market lost almost $10bn: it dropped from $130 billion to $120 billion, but then it steadily climbed back to $140 billion. Trading volumes amounted to $18–20 billion a day, dropping to $15 billion by the end of the week. The dominance of BTC during the last week varied from 58% to 48% and again to 58%. The price for 1 BTC dropped from $4,058 on Monday to $3,700 and bounced back to $4,150 by the end of the week. Many prophesized the fall to $3,700, reoccurrence of events of 2014 and so on.
Altcoins also dropped in price in the first half of the week, although to a much lesser extent due to being already very close to the lowest possible prices. After the BTC price started rising, the altcoins and coins from the TOP10 followed with a rapid growth. Over the next week, given a relatively stable price of the BTC, the events started to repeat themselves: some of the altcoins showed rapid growth with correction, some, together with the USDT, returned to the position before the last dump, and some grew even more.
The cryptocommunity is polarized: most forecast continued falling to $3,000 or even $1,200–1,500, and very few believe BTC would return to $5,000 or grow higher. Media personas urgently adjusted their forecasts for the end of the year in favor of the downtrend.
Most of those who bought BTC in January have already abandoned the hopes of returning their money. However, we still claim that the market reversal is inevitable. Even states have recognized the existence of cryptocurrencies and are only trying to start regulating them! Not so long ago they threatened to ban them completely! Patience and adding promising coins to the portfolio will bring you huge dividends in the future! Despite the increasingly gloomy sentiments in the community, there is no doubt about it!
3. Changes in the cost and capitalization of the TOP-10 cryptocurrencies in the period from November 26 — December 2, 2018
https://i.redd.it/8wfjs0omd2221.jpg
4. TOP-3 growing coins from the long-term portfolio for November 26 — December 2, 2018 (including portfolio updates)
Many coins have shown good growth during the specified period. The best-performing coins are Waves +52% (major development updates), Aragon ANT +47% (scheduled releases), AdEx +45% (pump?)
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