Crypto Brief 06/10: Bitcoin price formed potential reversal Doji candle with news about Binance, Litecoin, TRX, Samsung, EOS

[Singapore – October 6] From the Bitcoin forming Doji candle to Samsung partnered with RippleNet. There are some highlight news from the crypto market today.


Bitcoin News

Trader Josh Rager find out a Doji candlestick on Bitcoin’s weekly chart that could serve as a signal for market changing.

Rager publish a tweet for his followers about Bitcoin price forming a Doji candlestick on its weekly chart. He also points out that he expects a potential trend reversal.

This is a widely used chart pattern that shows a supply / demand equilibrium, which usually appears just before a major turning point in either direction. However, such a formation can be viewed as a continuation model pattern.

Rager also said that he was concerned about the lack of buying volume could push Bitcoin price down to $ 7.600.

$BTC Daily Chart doesn’t look pretty

Another Technical indicator printed a signal for changing in momentum of Bitcoin. The GTI global strength indicator, which is used to determine the strength of an asset ‘s price by comparing the movement of daily close, shows BTC is currently in oversold territory.

Analyst Mike McGlone believes BTC is slowly beginning to emerge as a hedge against the global economic crisis as gold.

However, in a series of tweets, economist Alex Krüger said that he did not think BTC was maturing into a safe haven asset.

“In weeks like the current one should realize bitcoin is without a sliver of doubt neither a risk-off (safe haven) nor a risk-on asset, and put the argument to rest once and for all.

I’ve been expressing this line of thinking for a long time. It has become a lonely rant in 2019.

Stocks have been crashing since yesterday’s ISM print, all assets aside of crypto assets are trading in line (as usual).”

In weeks like the current one should realize bitcoin is without a sliver of doubt neither a risk-off (safe haven) nor a risk-on asset, and put the argument to rest once and for all.

Binance News

Binance announced that it has completed the distribution all of GAS, ONG, VTHO, XLM, KMD, ALGO, QTUM and STRAT stacking rewards for September 2019.

User can confirm receipt of their stacking reward through the “Distribution History” page, “User Center”.

iOS v2.0.2 is available

Binance announces Binance Trading App – iOS v2.0.2 is available with many fixed features included.

Litecoin News

Litecoin’s Charlie Lee just shared Greg Maxwell’s explanation of why one cannot fix the 51% attack flaw of a decentralized system without adding centralization.

This is one of the keys to understanding Bitcoin, proof of work and decentralization that most people don’t understand.

TRX News

TRON Foundation announced that Binance started supporting TRX stacking beginning from October 1. Users of the exchange who own TRX will have the opportunity of earning a share of the block rewards that generated by all Super Representatives on the TRON network.

Samsung and RippleNet News

Samsung Electronics America is partnering with UK-based payment platform and RippleNet member – Finabr. Its cross-border payment technology currently serves for more than 25 million people in 170 countries worldwide.

The companies plans to add a new feature to the Samsung Pay mobile app, which called Money Transfer will allow people to send money to 47 countries with multiple payment options.

“Samsung Pay users in the U.S. can use their existing eligible pre-registered debit or credit cards in Samsung Pay to safely and securely send money in most major currencies to their recipients via Finablr’s global network.

The service leverages Finablr’s global reach and distribution capabilities, providing a wide choice of payout options tailored to the preferences of the recipient – from bank deposits to cash available for pick up.”

EOS News

Whale Alert announces that 03 major EOS transactions happened between unknown wallets with approximately total value of 6.5 million EOS.

Other News

Liechtenstein’s Parliament unanimously approves new Blockchain Act

On October 3, the Liechtenstein Parliament approved the Blockchain Act, which aims to improve investor protection, anti-money laundering and establish clear regulations. The new law will take effect on January 1, 2020. This action will make Liechtenstein to be the first nation to have comprehensive regulation of the token economy.

The newly approved law will regulate the issues of civil law in relation to client and asset protection, while establishing full monitoring on various service providers.

Former US Army Interpreter Gets 30 Years for Dark Web Fentanyl Trade

According to reports on October 3, a former Iraqi U.S interpreter was convicted 30 years in federal prison for using darknet to sell fentanyl.

Alaa Mohammed Allawi pleaded guilty to drug charges and acknowledged using the now-defunct online Darknet market – Alpha Bay to sell variety of drugs, such as oxycodone laced with fentanyl while accepting payments in cryptocurrency. Special Agent Will Glaspy said:

“From his use of the dark web, to his clandestine manufacturing of counterfeit pills laced with fentanyl, to his drug sales targeting college students, Allawi operated with little concern for the people in our communities.”

Viet Cuong


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