Welcome to my Cryptocurrencies Market Overview for Monday, February 5, 2018.
Today in the news:
- The crypto markets are heavily bleeding again today.
- China will add offshore cryptocurrency exchanges and ICO websites to its Great Firewall.
- More and more banks are banning credit card customers from buying bitcoin.
- And more crypto news below...
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Month-to-Date Change
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Mind the low Relative Strength level (RSI). Historically, this is a buy opportunity.
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Latest Crypto News - February 05, 2018
The Crypto Market Is Down Over 50% from All-Time Highs
The total value of all publicly traded cryptocurrencies hit a combined $366 billion today, its lowest figure observed for the market since Dec. 4, data from CoinMarketCap reveals.
Read more: www.coindesk.com
Other sources:
Bitcoin Prices Again Below $8K, But Traders Forecast Fresh Upside
Bitcoin has fallen 11.23 percent in the 24 hours to press time Monday, Feb. 5, dropping below support at $8000 as its price continues to dictate altcoin performance.
Read more: cointelegraph.com
Other sources:
Ban Complete: China Blocks Foreign Crypto Exchanges To Counter ‘Financial Risks’
China will add offshore cryptocurrency exchanges and ICO websites to its Great Firewall, the South China Morning Post reported Monday, reported Feb. 5, quoting a publication affiliated with the People’s Bank of China (PBoC).
Read more: cointelegraph.com
Other sources:
- Report: China Cutting Access to Overseas Crypto Trading (Coindesk)
- China to stamp out cryptocurrency trading completely with ban on foreign platforms (Business Insider)
- China Enlists Its 'Great Firewall' to Block Bitcoin Websites (Fortune)
Ghana is Paving the Way for Cryptocurrency in Africa
Finchcoin is the first official digital currency of Ghana. Operators are planning to expand the coin in the coming months into what they call “enterprise territory” by building a Finchcoin-based bank, a crypto exchange, crypto bonds and a crypto mining station.
Read more: www.bitsonline.com
Are Insiders Secretly Loading Up on Bitcoin?
Are insiders quietly loading up on Bitcoin right now? And what mistakes are people making that you can avoid? Revealed in this new video.
Newly Discovered Vulnerability In All Ledger Hardware Wallets Puts User Funds At Risk
Hardware cryptocurrency wallet manufacturer Ledger has discovered a vulnerability that affects all of its devices and can lead to users losing their funds, according to a report released on Saturday, Feb. 3.
Read more: cointelegraph.com
New York Bill Calls for Research Into State-Backed Cryptocurrency
A New York legislator has submitted a bill calling for the state to establish a task force to study the logistics and impacts of creating and issuing a state-backed cryptocurrency.
Read more: www.ccn.com
Singapore Airlines to Use Blockchain for Loyalty Program
Singapore Airlines wants to integrate blockchain technology into its KrisFlyer loyalty program. The company will come up with a digital wallet that travelers can use to unlock value from the accumulated miles.
Read more: cryptovest.com
Other sources:
- Singapore Airlines to Launch Blockchain-Based Loyalty Wallet (Coindesk)
- Singapore Airlines To Launch ‘First’ Blockchain Loyalty App Among Competitors (Cointelegraph)
Lloyds Bank bans customers from buying bitcoins using credit cards
Lloyds Banking Group has banned credit card customers from buying bitcoin amid fears it could be left in debt as the cryptocurrency’s value deflates. The banking giant, which includes Halifax, MBNA and Bank of Scotland, is thought to be the first in the UK to ban credit card customers from borrowing to buy the cyptocurrency.
Read more: www.theguardian.com
Major Cryptocurrency Exchange Bittrex To Add USD Trading, Reopen New User Sign-ups
Bill Shihara, CEO of Bittrex, confirmed during a Unikrn Radio podcast with Unikrn CEO Rahul Sood on Jan. 31 that the Bittrex exchange will be opening up USD trading to the majority of its customers.
Read more: cointelegraph.com
Blockchain Can Change the World, South Korean Finance Minister Declares
South Korean finance minister Kim Dong-yeon has voiced his admiration for the blockchain technology and its game-changing potential.
Read more: cryptovest.com