Weekly CryptoReport 5-9 March

The winter is not receding. Top cryptocurrencies have declined. Bitcoin has fallen below $9000. Are we going to $6000 again? Let’s see.

The former chief economist of the International Monetary Fund (IMF) Kenneth Rogoff says that in 10-year future bitcoin will more likely cost $100 than $100,000. Further regulations will make the price go down.
According to Blockchain. info, the number of transactions in bitcoin network plunged to the 2-year low.
Why has bitcoin fallen? One of the reasons can be a huge sale of BTC by a trustee of the bankrupt Mt.Gox cryptocurrency exchange. Since September 2017 he has sold bitcoin and bitcoin cash for more than $400 million to compensate the losses of Mt.Gox creditors.
According to one research, bitcoin is most traded in Japanese yen (60%). The second fiat currency is the US dollar (25%), in the third place the Korean won (6.5%), the euro is the fourth (5.5%).
Some news about an uncertain Chinese policy. A proposal on a national cryptocurrency exchange was made at the annual meeting of China’s top legislative and advisory bodies. Despite all restrictions on cryptocurrencies, China is not going to stay aside. At the same time, accounts of cryptocurrencies exchanges are blocked in the popular Chinese messenger WeChat.
More restrictions in Asia. Japanese authorities closed cryptocurrency trade platforms FSHO and Bit Station for 30 days until security violations are removed. Five cryptocurrency exchanges (Coincheck is among them) have to present a plan to improve protection from cyber attacks before March 22.
The government of New Jersey banned the ICO of Bitcoiin2Gen that is advertised by Steven Seagal. Don’t believe famous names.
Ryan Gosling has become the new face of cryptocurrency scam Miroskii (the actor didn’t know about it).
The National Assembly of Venezuela said that El Petro is a fraud of a corrupt government that was created to get money from citizens. The opposition has most of the seats in Assembly, so such a claim is not a surprise.
A bot of the cryptocurrency exchange Binance was hacked. After the hacking, it started selling altcoins at market prices and buying Viacoin (VIA). VIA became the second one after bitcoin by the volume of trading. However, the cryptocurrency exchange itself was not hacked. Now all balances of users are restored. The crypto market lost more than $30 billion during an hour. All top cryptocurrencies fell.
Coinbase opens its first investment index fund tied to rates of BTC, BCH, ETH, and LTC. In the beginning, only accredited investors from the USA will have an access to it, a minimum deposit is $10,000.
Vitalik Buterin, the founder of Ethereum, offered a new model of ICO – DAICO. DAICO will help to make the ICO more secure attracting investors in a process of an initial development of the project.
A new token has appeared. Developers of Callisto Network confirmed Ethereum Classic block mold. Yobit has started trading on the new token, a price is $1,6. A launching of Callisto network is planned on March 23.

Bitcoin $8,810 (-10.81%)

DASH $456.4 (-12.60%)

Ethereum $677.41 (-10.50%)

Litecoin $168.05 (-8.85%)

Similar

26.05.2023 10:34 USD Gains Momentum

The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!

25.05.2023 08:55 NVIDIA to Become the Next Tesla

The United States has one week before default, and NVIDIA may become the next Tesla. What else drives the market?

23.05.2023 11:50 Progress in US Debt Talks, Gold Is Down

Some progress in US debt ceiling talks is made, and the PMI data is out.

Latest news

01.06.2023 07:16 No More US Debts in Sight

The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.

30.05.2023 10:14 Gold Rises as Central Banks Buy More

About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.