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Bitcoin Trading Volumes More than Doubled in a Week Says Report – Cointelegraph

January 14, 2020 | Author: admin

A report published on Jan. 9 by cryptocurrency market research firm Arcane Research, Bitcoin (BTC) trading volumes more than doubled in a week.

Per the report, the 7-day average daily trading volume has seen a 126% increase in a week at the start of 2020, with almost $1.5 billion traded just on Jan. 8. The report reads:

The market recovered sharply from the disappointing $192 million that were traded on Jan. 1.

The researchers also note that the Crypto Fear & Greed Index shown on alternative software website Alternative.me has been steadily climbing since mid-December and on Jan. 6 it touched neutral levels for the first time since October.

The report also points out that Bitcoins volatility is increasing alongside its price and is currently climbing the 3% level. The document reads:

Although falling back to fear in the last couple of days, the market is certainly getting more bullish.

The indexs website explains that when it reaches extreme fear it means that investors are too worried which presents a buying opportunity, while when the tool shows extreme greed the market is probably due for a correction. The indicator derives its reading from volatility, market momentum and volume, social media, surveys, Bitcoin crypto market dominance and Google trends.

Crypto Fear & Greed Index as of Jan. 12, 2020. Source: Alternative.me

Interestingly, the researchers also suggest that the tensions between Iran and the United States brought Bitcoins correlation with gold to levels not seen since August 2016. While the authors of the report admit that it is way too early to draw any firm conclusion, they also point out that major events in the new conflict caused a positive reaction by both golds and Bitcoins price. The paper reads:

The safe haven narrative for Bitcoin is starting to become true. However, this short-term price action could also just be spurious correlation and a long-term evaluation must be taken into consideration.

As Cointelegraph explained in a recent analysis, many believe that Bitcoin is proving useful to the Iranian population as the conflict continues.

Lastly, the report also notes that the activity on Bitcoins blockchain also showed a renaissance, with the number of transactions climbing 5% in a week as the transaction value grew by one-fourth over the same period of time. Also miner fees increased by over 40% and the number of active addresses increased by about 7.63%.

Bitcoins outlook is becoming increasingly bullish as recent reports become ever more positive for the cryptocurrency. Bitcoin can deliver 100% returns to investors in 2020 and may rise significantly in the five months until Mays block reward halving, according to a recent report.

Interest in the asset is seemingly rising and as Cointelegraph recently reported, the United States largest bank believes interest will be high in CME Groups new Bitcoin options.

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Bitcoin Trading Volumes More than Doubled in a Week Says Report - Cointelegraph

Is Bitcoin Is About To Repeat Its 2019 Rally? – Bitcoinist

January 14, 2020 | Author: admin

There is no doubt that sentiment has turned bullish for bitcoin. It has remained above the psychological $8,000 barrier for the weekend and institutional investors are starting to go long again.

Analyst Benjamin Cowen has taken a different way of looking at price data in his latest video. He has essentially removed the irrational short term price moves over the past year to average them out.

The aim was to estimate how much longer the current accumulation phase will last. The suggestion is that a continuation of the current trend would take prices slowly upwards over the next market cycle. The cycles are lengthening so it is likely that the current phase could last another year or so.

Cowen makes several references to the twenty-week moving average which BTC price is currently below indicating that the bull market has not arrived yet. It is currently serving as resistance at just below $8,400.

A long term trading signal turned bullish this week for the first time since March 2019 and BTC just closed its largest green weekly candle since late October.

Another measure of market sentiment is institutional interest and this appears to be slowly turning bullish also.

Trader Cantering Clark has noted that asset managers are starting to go long in a pattern that is similar to that in the first quarter of 2019.

According to that data, longs are the highest they have been since July last year, just after the price peak. He added that this was not fast money indicating that these positions are from meaningful money and not high leveraged trading for quick returns.

What I am referring to is the net increase leading to the mark up. Leveraged funds were very short, different from Asset Managers. Leveraged funds are fast money.

Another potential positive signal is that options call for bitcoin are also climbing with some price predictions of $12k a month after the halving appearing on some exchanges. Crypto investor Ceteris Paribus has been observing one exchange where contracts are being opened for a 50% move in the next five months.

Today also marks the launch of another institutional bitcoin product in the form of CME options contracts. It has been described as highly anticipated by JP Morgan managing director as the exchange is way larger than Bakkt.

If bitcoin can hold above $8k and keep the bears at bay it will not be long before another sustained move higher occurs, confirming that the bull market is back in play.

Will bitcoin move higher this week? Add your thoughts below.

Images via Shutterstock, Twitter: @CanteringClark

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Is Bitcoin Is About To Repeat Its 2019 Rally? - Bitcoinist

Poll Shows Crypto Investors Expect ChainLink To Be Top Performing Altcoin in 2020 – newsBTC

January 14, 2020 | Author: admin

The altcoin known as Chainlink had a stellar year last year in 2019, outperforming the rest of the entire crypto market by a wide margin, while many other assets fell to new lows.

However, according to a new poll, crypto investors at large expect the altcoin to be a top-performing asset once again this year. Will lightning strike twice for altcoin known as Chainlink?

With 2019 now in the rearview mirror, in hindsight, we can see which assets were the top performers across the crypto market. While exchange-based utility tokens dominated the best ROI from cryptocurrencies in 2019, one particular altcoin Chainlink topped all other crypto assets, including Bitcoin.

Chainlink closed out the year with nearly a 500% return on investment. Bitcoin, for comparison, only ended the year at roughly a 100% return.

Related Reading | Chainlink, Exchange-Related Tokens Dominate Crypto ROI Last Year

That trend is expected to continue, as a new poll asking crypto investors which altcoins they expect to be top performers in 2020 have been dominated by the altcoin Chainlink.

Although a dozen or so altcoins are listed by name in a Twitter poll, four main choices can be selected to vote, including Chainlink, Basic Attention Token, Binance Coin, and Cardano. Why these four altcoins were chosen is anyones guess, however, they are among the most promising and hyped coins across the crypto market.

Chainlink captured the bulk of the votes with over 70% of respondents expecting another stellar year for the altcoin project. Basic Attention Token, the utility token powering the Brave browser and new internet economy, took just 10% of the vote. Cardano was in second with 12% of respondents votes, while Binance Coin was in the last place capturing only 5% of the total votes.

Binance Coin being lower than Basic Attention Token or Cardano is surprising, as Binance Coin was yet another one of cryptos top performers of 2019, much like Chainlink that took the top spot on the poll.

If Chainlink has another year like 2019, it could very well find itself in the top ten cryptocurrencies by market cap alongside Bitcoin, Ethereum, Litecoin, Ripple, and other mainstay crypto projects, bringing it invaluable additional visibility and familiarity for new investors.

Only time will tell if Chainlink has another strong performing year this year, but for now, the crypto asset may see some downside as the Tom Demark TD9 Sequential has triggered a sell signal on LINK/USD daily price charts.

Related Reading | These Five Altcoins Crushed Bitcoins 2019 Returns

However, given the bullish sentiment surrounding Chainlink, any downside is likely to be short-lived and the altcoin will rally once again.

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Poll Shows Crypto Investors Expect ChainLink To Be Top Performing Altcoin in 2020 - newsBTC

These 4 Factors Suggest the Altcoin Crypto Market Rally is Only Just Beginning – newsBTC

January 14, 2020 | Author: admin

The Altcoin Index Perpetual Futures broke out of a major resistance level in the past week, which may indicate that due to the strong momentum in the crypto market, major altcoins are in a prime position to sustain their upward movement.

After breaking out of the resistance level the first time, it corrected to retest the level, consolidated, and cleanly broke out of the resistance level.

These four factors, which can be considered as a complete cycle of bottoming out on a lower time frame, could act as a catalyst for the altcoin market.

Within hours, the prices of major crypto assets in the likes of Ethereum, XRP, Bitcoin Cash, Bitcoin SV, Litecoin, and EOS surged by anywhere in between 5 to 50 percent.

Bitcoin Cash and Bitcoin SV increased by the largest margin on the day, by 15 percent and 47 percent respectively.

As reported by NewsBTC previously, the altcoin market due for a relief rally because it was significantly oversold at low levels.

Against bitcoin, most crypto assets dropped by 50 percent in the last six months alone, some assets like Ethereum and XRP ending 2019 with a net negative.

According to cryptocurrency trader Josh Rager, the bitcoin price is likely to test $8,750 as the next imminent resistance level.

[Bitcoin] looks good. $7,900s acted as support at the previous range in Sept-Oct 2019 and is currently acting as support now as the POC (point of control since May). Test of $8750 should be next, test and close above should rip up to $9050+. If price breaks down, $7900s is support, he said.

If the bitcoin price remains at the mid-$8,000 level and stabilizes in the short-term, sideways movement of BTC following a large rally could establish an environment for altcoins to thrive in.

The Ethereum price broke out of a key resistance level for the first time since December 2019 (Source: TradingView)

Most altcoins are up by around 40 percent in the past month, even for major crypto assets like Ethereum.

While the sentiment around the crypto market remains optimistic, altcoins could retrace in the short-term in a steep pullback if the market reacts with lackluster buying demand at higher levels.

As said by a prominent cryptocurrency trader, the breakout of bitcoin to the mid-$8,000 area was significantly weaker than its upsurge to $12,000.

Bitcoin often pulls back after a 30 to 40 percent move. If there is not enough demand to push BTC to the $9,000s, which many investors anticipated would happen the first time it broke out of $8,000 on January 8, it may leave the dominant cryptocurrency vulnerable to a pullback.

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These 4 Factors Suggest the Altcoin Crypto Market Rally is Only Just Beginning - newsBTC

Is This The Return Of The Altseason? Pumped Up Altcoins Leave Bitcoin In The Wind – ZyCrypto

January 14, 2020 | Author: admin

The last couple of hours have been every cryptocurrency holders dream come true. Particularly for altcoin holders, the last few hours have brought nothing but good fortune. After missing for a couple, market bulls are back and they are asserting their dominance.

In a couple of hours, they have added billions of dollars to the market and now it stands at around $240 billion. Much of the gains have come from altcoins with Bitcoin enjoying relative gains.

While Bitcoin enjoys gains of around 8%, other major coins are recording jumps of up to 90% in the case of Bitcoin SV. A majority of altcoins, however, are seeing gains of 10% to 30%. So does this mean the return of the altseason?

For the better part of 2019, there was a lot of talk about the altseason making a return. During this time, the market generally sees Bitcoin outperformed by other cryptocurrencies. It also sees its dominance drop rapidly as investors choose other cryptocurrencies, which perform better than the market leader.

So far, all this has taken place. While Bitcoin is rallying by 8%, Ethereum and XRP are rallying by 14% and 13% respectively. The same goes for other major cryptocurrencies with all top ten cryptocurrencies enjoying double-digit gains.

In regards to market dominance, Bitcoin which was earlier in the day above 68% has at the time of writing this fallen to 66.5%. This is expected to continue dropping if altcoins continue performing better than Bitcoin. Bitcoin holders are however not to be alarmed unless its dominance falls below 60%.

The altseason is back. And it could not have come at a better time. Bitcoin is in the next few months going to surge to new highs inspired by its block halving. Altcoins are now getting a head start before Bitcoin can begin its rally. The altseason will see altcoins garner up some dominance and avoid losing to Bitcoin during the upcoming halving. The dominance they accumulate now will further ensure they enjoy strong support and ensure higher lows if Bitcoin begins outperforming them.

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Is This The Return Of The Altseason? Pumped Up Altcoins Leave Bitcoin In The Wind - ZyCrypto

Ethereum Classic Cooperative Warns Public Against Apparent Hard Fork Scam – Cointelegraph

January 14, 2020 | Author: admin

An Ethereum Classic (ETC) development organization is warning the public against a possible scam that is attempting to exploit users the day after the altcoin completed its hard fork.

In a tweet posted by the ETC Cooperative on Jan. 13, they ousted an alleged scam calling itself EAgharta in resonance with ETCs bona fide Agharta hard fork:

Needless to say, EAgharta is a complete scam, probably from the same people who did something very similar at Atlantis. Stay away. ETC Agharta did not result in new Agharta coins. They are just trying to scam you.

On Jan. 12, Ethereum Classic had activated the Agharta hard fork, which aims to improve interoperability with protocol changes introduced to its blockchain via its Constantinople and St. Petersburg upgrades last year.

The occasion of the hard fork appears to have spurred the malign actors behind EAgharta to attempt to exploit the event and peddle fraudulent proprietary Agharta coins. New tokens have, as ETC Cooperative emphasizes, not in fact been created as part of the networks hard fork.

To warn users, ETC Cooperative posted a screenshot of EAghartas Twitter handle and its solicitations to users to safely claim Ethereum Classic #Agharta (ETC Hard Fork).

The Twitter handle links to the schemes site and its Trumpian byline of Agharta Hardfork - make Ethereum Classic great again!

Once users enter the site, it prompts them to enter and save a password in order to ostensibly create a new, dedicated wallet. Etcagharta.org maintains it does not hold users keys on their behalf:

We cannot access accounts, recover keys, reset passwords, nor reverse transactions. Protect your keys & always check that you are on correct URL [sic.]

The ETC Cooperative is an organization that oversees and deploys funds from Grayscale Investments for the development of the ETC network. The cooperatives spending policy supports the development of the Ethereum Classic network, infrastructure and related applications.

Ethereum Classics name itself derives from the highly contentious hard forking of the Ethereum Network in 2016 in the wake of the DAO scandal.

Classic refers to the fact that the altcoin runs on the original version of the blockchain before the time of the fork and was added to the cryptocurrencys name to distinguish it from its ultimately more famous successor, Ether (ETH).

With Ether currently ranked largest altcoin by market cap, Ethereum Classic lags some way behind in 19th place. It is trading at $5.42, seeing virtually no change over the 24 hours before press time.

South Korea: Hacked Crypto Exchange Upbit Finally Resumes ETH Deposits and Withdrawals – BTCMANAGER

January 14, 2020 | Author: admin

Upbit, a top South Korea-based cryptocurrency exchange that lost $51 million worth of ether (ETH) to hackers last year, has announced that it has resumed deposits and withdrawals for the altcoin, reports Business Korea on January 14, 2019.

Cryptocurrency exchange hacks and heists remains a pain in the neck for market participants in the digital assets ecosystem and South Koreas Upbit exchange tasted its fair share of the bitter cake last November, in a $51 million ether (ETH) hack.

However, after nearly two months of shutting down deposits and withdrawals for the worlds second-largest cryptocurrency by market capitalization, Upbit has now decided to move on with its normal operations.

Per sources close to the matter, Upbit, the Dunamu-owned bitcoin (BTC) trading venue has reinstated ether (ETH) deposit and withdrawal services on January 13, 2019, just a few days after it reportedly normalized deposit and withdrawals for other altcoins including litecoin (LTC), XRP and EOS.

Notably, in a bid to safeguard its assets from future hacks, the exchange has made it clear that it has now replaced the previous ether wallet with a new wallet system and has asked users to take note of its new ether wallet addresses.

Upbit said:

We have put in place a new wallet system for deposit and withdrawals of digital assets. It is difficult to specify whether to open or withdraw funds one by one or all at once in the future.

While centralized exchanges are yet to find a permanent solution to the menace of crypto hacks, most established platforms, including Changpeng Zhaos Binance have put measures in place to ensure users get their entire funds back even after a major hack.

Reportedly, Upbit recently released its due diligence report and the exchange stated that it covered the entire 342,000 stolen ether with its own assets.

Its worth noting that this is not the first time that bad actors are targeting Upbit crypto exchange.

As reported by BTCManager earlier in May 2019, the North Korean hacking group, Kim-Soo-Ki, launched a phishing attack on Upbit, in an effort to steal users funds.

Despite the ups and downs, Upbit remains one of the Korean crypto exchanges doing its best to promote the growth of the blockchain ecosystem. The exchange organized its first blockchain developer conference in September 2018.

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South Korea: Hacked Crypto Exchange Upbit Finally Resumes ETH Deposits and Withdrawals - BTCMANAGER

Malware Obfuscation, Encoding and Encryption – Security Boulevard

January 14, 2020 | Author: admin

Introduction

Malware is complex and meant to confuse. Many computer users think malware is just another word for virus when a virus is actually a type of malware. And in addition to viruses, malware includes all sorts of malicious and unwanted code, including spyware, adware, Trojans and worms. Malware has been known to shut down power grids, steal identities and hold government secrets for ransom.

The swift detection and extraction of malware is always called for, but malware isnt going to make it easy. Malware is mischievous and slippery, using tricks like obfuscation, encoding and encryption to evade detection.

Understanding obfuscation is easier than pronouncing it. Malware obfuscation makes data unreadable. Nearly every piece of malware uses it.

The incomprehensible data usually contains important words, called strings. Some strings hold identifiers like the malware programmers name or the URL from which the destructive code is pulled. Most malware has obfuscated strings that hide the instructions that tell the infected machine what to do and when to do it.

Obfuscation conceals the malware data so well that static code analyzers simply pass by. Only when the malware is executed is the true code revealed.

Simple malware obfuscation techniques like exclusive OR (XOR), Base64, ROT13 and codepacking are commonly used. These techniques are easy to implement and even easier to overlook. Obfuscation can be as simple as interposed text or extra padding within a string. Even trained eyes often miss obfuscated code.

The malware mimics everyday use cases until it is executed. Upon execution, the malicious code is revealed, spreading rapidly through the system.

Next-level malware obfuscation is active and evasive. Advanced malware techniques, like environmental awareness, confusing automated tools, timing-based evasion, and obfuscating internal data, allow (Read more...)

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Malware Obfuscation, Encoding and Encryption - Security Boulevard

Microsoft CEO says encryption backdoors are a terrible idea – The Verge

January 14, 2020 | Author: admin

As Apple squares off for another encryption fight, Microsoft CEO Satya Nadella offered mixed messages on the encryption question. In a Monday meeting with reporters in New York, Nadella reiterated the companys opposition to encryption backdoors, but expressed tentative support for legal and technical solutions in the future.

I do think backdoors are a terrible idea, that is not the way to go about this, Nadella said. Weve always said we care about these two things: privacy and public safety. We need some legal and technical solution in our democracy to have both of those be priorities.

Along those lines, Nadella expressed support for key escrow systems, versions of which have been proposed by researchers in the past.

Apples device encryption systems first became a point of controversy after a 2016 shooting in San Bernardino, which led to a heated legal push to force Apple to unlock the phone. That fight ultimately ended in a stalemate, but many have seen the recent shooting at a naval base in Pensacola as a potential place to restart the fight. Committed by a Saudi national undergoing flight training with the US Navy, the shooting has already been labeled a terrorist act by the FBI, and resulted in 21 other Saudi trainees being disenrolled from the program. Two phones linked to the assailant are still subject to Apples device encryption, and remain inaccessible to investigators.

But Nadella stopped short of simply saying companies could never provide data under such circumstances, or that Apple shouldnt provide a jailbroken iOS modification under the circumstances. We cant take hard positions on all sides... [but if theyre] asking me for a backdoor, Ill say no. Nadella continued, My hope is that in our democracy these are the things that arrive at legislative solutions.

Thats a significantly milder tone than Microsoft took during the San Bernardino case in 2016. At the time, Microsoft expressed wholehearted support for Apples position in the case, and joined Apple in opposing some of the encryption bills pushed in the wake of the trial.

Correction 9:43PM ET: Due to a transcription error, Nadellas two priorities were listed as privacy and national security. He said they were privacy and public safety. This has been corrected.

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Microsoft CEO says encryption backdoors are a terrible idea - The Verge

Over two dozen encryption experts call on India to rethink changes to its intermediary liability rules – TechCrunch

January 14, 2020 | Author: admin

Security and encryption experts from around the world are joining a number of organizations to call on India to reconsider its proposed amendments to local intermediary liability rules.

In an open letter to Indias IT Minister Ravi Shankar Prasad on Thursday, 27 security and cryptography experts warned the Indian government that if it goes ahead with its originally proposed changes to the law, it could weaken security and limit the use of strong encryption on the internet.

The Indian government proposed(PDF) a series of changes to its intermediary liability rules in late December 2018 that, if enforced, would require millions of services operated by anyone from small and medium businesses to large corporate giants such as Facebook and Google to make significant changes.

The originally proposed rules say that intermediaries which the government defines as those services that facilitate communication between two or more users and have five million or more users in India will have to proactively monitor and filter their users content and be able to trace the originator of questionable content to avoid assuming full liability for their users actions.

By tying intermediaries protection from liability to their ability to monitor communications being sent across their platforms or systems, the amendments would limit the use of end-to-end encryption and encourage others to weaken existing security measures, the experts wrote in the letter, coordinated by the Internet Society .

With end-to-end encryption, there is no way for the service provider to access its users decrypted content, they said. Some of these experts include individuals who work at Google, Twitter, Access Now, Tor Project and World Wide Web Consortium.

This means that services using end-to-end encryption cannot provide the level of monitoring required in the proposed amendments. Whether its through putting a backdoor in an encryption protocol, storing cryptographic keys in escrow, adding silent users to group messages, or some other method, there is no way to create exceptional access for some without weakening the security of the system for all, they added.

Technology giants have so far enjoyed what is known as safe harbor laws. The laws, currently applicable in the U.S. under the Communications Decency Act and India under its 2000 Information Technology Act, say that tech platforms wont be held liable for the things their users share on the platform.

Many organizations have expressed in recent days their reservations about the proposed changes to the law. Earlier this week, Mozilla, GitHub and Cloudflare requested the Indian government to be transparent about the proposalsthat they have made to the intermediary liability rules. Nobody outside the Indian government has seen the current draft of the proposal, which it plans to submit to Indias Supreme Court for approval by January 15.

Among the concerns raised by some is the vague definition of intermediary itself. Critics say the last publicly known version of the draft had an extremely broad definition of the term intermediary, that would be applicable to a wide-range of service providers, including popular instant messaging clients, internet service providers, cyber cafes and even Wikipedia.

Amanda Keton, general counsel of Wikimedia Foundation, requested the Indian government late last month to rethink the requirement to bring traceability on online communication, as doing so, she warned, would interfere with the ability of Wikipedia contributors to freely participate in the project.

A senior executive with an American technology company, who requested anonymity, told TechCrunch on Wednesday that even as the proposed changes to the intermediary guidelines need major changes, it is high time that the Indian government decided to look into this at all.

Action on social media platforms, and instant communications services is causing damage in the real world. Spread of hoax has cost us more than at least 30 lives. If tomorrow, someones sensitive photos and messages leak on the internet, there is currently little they can expect from their service providers. We need a law to deal with the modern internets challenges, he said.

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Over two dozen encryption experts call on India to rethink changes to its intermediary liability rules - TechCrunch

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Bitcoin Trading Volumes More than Doubled in a Week Says Report – Cointelegraph

Is Bitcoin Is About To Repeat Its 2019 Rally? – Bitcoinist

Poll Shows Crypto Investors Expect ChainLink To Be Top Performing Altcoin in 2020 – newsBTC

These 4 Factors Suggest the Altcoin Crypto Market Rally is Only Just Beginning – newsBTC

Is This The Return Of The Altseason? Pumped Up Altcoins Leave Bitcoin In The Wind – ZyCrypto

Ethereum Classic Cooperative Warns Public Against Apparent Hard Fork Scam – Cointelegraph

South Korea: Hacked Crypto Exchange Upbit Finally Resumes ETH Deposits and Withdrawals – BTCMANAGER

Malware Obfuscation, Encoding and Encryption – Security Boulevard

Microsoft CEO says encryption backdoors are a terrible idea – The Verge

Over two dozen encryption experts call on India to rethink changes to its intermediary liability rules – TechCrunch

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