Trade Hard, Play Hard
The YAP team shows its competitive spirit.
Upcoming on the event radar is CryptoCamp 2018 in Toronto.
“CryptoCamp aims to educate, onramp and up-skill “crypto-curious” professionals from various sectors on the blockchain technology, facilitate informed discussions, grow the community, and advance the future of blockchain technology.”
We might be sending out a troupe. What do you think?
It’s a bear market but we’re not hibernating. Come for the trades, stay for the good cheer.
P.s. If you happened to pick up one of our flyers, it might be a good time to use one of the exclusive bonuses!
Bitcoin and the cryptocurrency market as a whole took a tumble last week, with most falling an average of 15 percent or more. Though many cryptos retraced some of their losses, most are still well below their 30-day trading average. The fall was largely sparked by an ongoing hashrate war between two sides of the Bitcoin Cash hard fork. The crash was unexpected, with the market as a whole enjoying significantly lower volatility in the months leading up to Wednesday’s event.
Bitcoin Cash split sparks a hashrate war. On November 15th, Bitcoin Cash underwent a hard fork, which split the cryptocurrency into two new versions, Roger Ver and Jihan Wu’s Bitcoin Cash “ABC” and Craig Wright’s new “Satoshi’s Vision.” Craig Wright’s Bitcoin SV, which aimed to increase the block size to 128mb, for its part, feel behind in the mining war immediately. With both parties working hard to sustain their blockchains, speculators guess that the hashrate war indirectly impacted other major cryptocurrencies due to the sale of bitcoin to ‘boost’ their numbers artificially.
Bloomberg analysts says bitcoin could fall to $1,500. Despite overwhelming bullishness within the space, some analysts are making some pretty shocking predictions. Bloomberg Terminal’s research arm, Bloomberg Intelligence suggest that the Bitcoin Cash war could have an even greater impact on markets that anticipated, potentially even causing Bitcoin prices to slip all the way to $1,500. The man behind the prediction, Mike McGlone, noted that “[The slump] was sparked by the pump for the Bitcoin Cash hard fork. That pump that began a few weeks ago, got the market a bit too offsides with speculative longs playing for the good-old days. But this is an enduring bear market.”
Canada plans new regulation in anti-money laundering push. The Canadian House Finance Committee met to discuss the growing role of cryptocurrencies and how to manage the threat of unlawful transfer of funds. The committee weighed the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) regulations as legislators noted the potential of cryptocurrencies to be used as vehicles for illegal activity. Though no adjustments to the laws were made, the committee noted that, “In the absence of some degree of regulatory oversight, cryptocurrency transactions may be used by parties to swiftly move large amounts of wealth across borders, and that regulating (exchanges of fiat currencies for cryptocurrencies) would address the (anti-money-laundering) concerns of the cryptocurrency space.”
IBM patent aims for blockchain scientific research. IBM filed a patent application for a blockchain-based technology that would allow for “open scientific research” that would allow researchers to track their work across institutional borders. IBM’s patent aims to establish a system that provides “a tamper resistant log of scientific research.”
Binance CEO: Bitcoin bull run inevitable. The head of bitcoin exchange Binance, Changpeng Zhao, said that a bull run for Bitcoin is inevitable sooner or later. “Even if I don’t know what will catalyze a bitcoin bull run, I am certain it will happen… Sooner or later, something will trigger it,” he told CNBC’s Crypto Trader program. Bitcoin is down almost 90 percent since January, but he looked at the upside. “Compared to January [of 2018], we are probably down 90 percent. So we only have one-tenth of the trading volume compared to what we had in January. But, compared to like a year or two years ago, we’re still trading at huge volumes. Business is still okay, we are still profitable, and we are still a very healthy business,” Zhao said.
