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Crypto Weekly Update: Craig Wright, BCH-SV Binance Delisting and BTC Struggles For $5K

This week the market experienced a slight move downwards which can be seen as a healthy correction. The overall trading volume is also dropping, which signals the fear of traders who aren’t sure if the trend has changed and if the recent gains don’t represent a sort of a trap.

In addition to this week’s market performance, the cryptocurrency community saw plenty of drama as infamous Craig Wright aimed at leading Twitter crypto guros for denying his claims that he is the real Satoshi Nakamoto. Major cryptocurrency exchange Binance, propelled by the vision of its CEO Changpeng Zhao (CZ), announced that it would delist Wright’s Bitcoin SV. Shapeshift, another popular digital asset exchange also followed that step.

Meanwhile, we saw signs of mainstream talks related to the cryptocurrency market, as well as to blockchain technology which could be interpreted as a bullish sign. Tax reports period in the United States has also ended, and there are no impacts on the cryptocurrency market.

On another note, the craze around Initial Exchange Offerings (IEOs) is also continuing to trend, and it’s impossible to ignore the fact that most of them are vastly successful when it comes to raising funds, but also to making notable investment returns. This has translated to additional hype around the market.

In terms of individual performances, Tezos went up 15 percent throughout the last week and managed to occupy the 16th spot from the top 100 cryptocurrencies.

To summarize, this week saw a little more red on the price charts, but the positivity and the optimism in the community don’t fade away but instead continues.

It’s also worth noting that we are only about one year and one month away from the Bitcoin halving event, and we are already seeing the topic gaining traction.

Market Data

Market Cap: $171.6 B
24h Vol: $43 B
BTC Dominance: 52.1%
BTC: $5,080 2.5%
ETH: $162.4 8.3%
XRP: $0.32 8.7%
BTC Shorts (BFX): 18.7 K BTC
BTC Longs (BFX): 24.2 K BTC

Crypto News

Market-Update-24-min

Risk Takers: 47% Of Crypto Traders Hold Their Portfolio’s Majority In Altcoins Over Bitcoin. A Twitter poll with more than 10,000 participants revealed that 47% of traders hold more than 60% in Altcoins rather than Bitcoin. This could be seen as a sign that this year’s altcoin season is still ongoing, despite Bitcoin’s latest rally.

Bullish Sign? Worldwide Crypto Conferences Are Catching Up With Bitcoin’s Recent 2019 Bull-Run. As many proponents seemingly believe that the cryptocurrency market is staging its next bull run, major world crypto conferences are also catching up. The Paris Blockchain Week Summit, Consensus 2019, and Malta AI & Blockchain Summit are those to keep an eye on in the coming month.

Bakkt Bitcoin Futures Exchange Hires New Product Chief – Former Google & Paypal Engineer. ICE’s Bakkt, a digital asset platform to offer physically-delivered Bitcoin futures contracts, is gearing up for its launch. The platform has recently recruited a former Google & PayPal engineer as a Director of Engineering for their wallet service.

Coinbase Launching a Bitcoin Visa Card: But What About Crypto Adoption? The leading US-based cryptocurrency exchange Coinbase has partnered up with Visa, launching a card that will enable users to pay with Bitcoin (BTC). However, a closer look at it reveals that it might create more obstacles than it aims to solve.

The Dark Side of The IEOs: 5 Threats Of The New Revolutionary Token Sale Model. Initial Exchange Offerings (IEOs) are definitely a hot topic, raising millions of dollars in seconds. However, they also have certain drawbacks which can’t go unnoticed and definitely deserve a thought.

CZ, Binance CEO: Craig Wright is not Satoshi Nakamoto, But He’s a Fraud. Infamous Craig Wright has taken aim at popular Twitter user Hodlonaut for claiming that he’s not the real Satoshi Nakamoto. Most of the community retaliated at Wright, with Changpeng Zhao, CEO at Bianance, openly calling him a “fraud.”

Charts

This week we have a chart analysis of Bitcoin, Ethereum,Ripple,EOS and Bitcoin Cash– Read more here.

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