Main news:
Ethereum to See 726% Growth & Predictions of the Week
Tom Lee, an analyst from Wall Street, believes that ethereum is ready for a new rally and by the end of 2018, its rate could increase to $1,900. The expert also named reasons why the cost of altcoin will start to grow dramatically in the near future.
"We believe Ethereum is about to stage a trend reversal and rally strongly," Lee said. Chief analyst of Fundstrat noted that the ethereum market is now in an extremely negative mood, but this can positively affect the further growth of the price of the cryptocurrency. Lee refers to historical data, according to which ethereum demonstrated explosive growth after lagging behind the rest of the assets for a certain period of time. According to the analyst of Fundstrat, in the next few months, the price of altcoin may increase by 726%.
SEC & CFTC Bring Charges Against 1pool Ltd
The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have brought charges against the broker 1pool Ltd, also known as 1Broker, registered in the Marshall Islands. The SEC's charges were raised because of the company's violation of federal laws and the implementation of schemes for selling bitcoin swaps with characteristics of securities. According to the regulator, the trade was conducted without observing controlled investment limits. The CFTC also blamed 1Broker and its CEO Patrick Brunner, pointing out similar violations of federal laws and failure to comply with anti-money laundering requirements.
U.S. Sets Sights on Crypto in Terrorism
A special Independent Financial Technology Task Force to combat the use of cryptocurrency for terrorist purposes will be established in the United States. The U.S. House of Representatives adopted a corresponding bill. In January 2018, a member of the Financial Services Committee, Ted Budd, presented his bill, according to which compensation would be granted for providing information on the financing of terrorism using cryptocurrency. The resolution of the House of Representatives (HR) 5036 is a slightly modified version of the bill proposed by Budd. As a result, the Independent Financial Technology Task Force will be created to combat the illegal use of the cryptocurrency. However, the new version of the draft law sets the same time frame for reporting on the potential use of cryptocurrency in non-core activities. The Task Force should thus submit its findings no later than one year after the effective date of the draft law.
What Else:
- The U.S. Securities and Exchange Commission accused Tesla’s Chief Executive Elon Musk of fraud in his official Twitter account. The regulator sues Musk for a series of tweets in which he announced that the company goes private.
- Kraken cryptocurrency exchange will list cardano (one of the leading blockchain platform for creating decentralized applications) and quantum (platform for implementing plug-and-play smart contracts) cryptos.
- Ripple, a start-up standing behind the XRP cryptocurrency, launches Ripple for Good, a foundation that will allocate funds to support projects involved in education in the fields of science, mathematics, development, and financial technology.
- Bittrex and Gemini cryptocurrency exchanges are going to add USD/BCH trading pair in October. The price of bitcoin cash skyrocketed following these statements.
Market:
Bitcoin (EXANTE: Bitcoin) $6658 (+2,20%)
Ethereum (ETH/USD) $225 (+3,25%)
XRP (XRP/USD) $0,53 (+1,78%)
Bitcoin Cash (EXANTE: Bitcoin.Cash) $538 (-3,80%)
EOS (EOS/USD) $5,83 (+3,70%)
ETERNAL TOKEN (+39,09%) showed the best growth in the top-100
Mining Profitability:
BTC $2,4 for 10 TH/s ↗️
ETH $0,17 for 10 MH/s ⏸
BCH $0,21 for 1 TH/s ↘️
LTC $3,52 for 1 GH/s ↗️
DASH $0,08 for 1 GH/s ↘️
Dynamics:
As of 18:00 (GMT+1) total cryptocurrency market capitalization stands at $221,3 billion
Trading volume of cryptocurrencies during 24 hours reached $17 billion (+2 billion per day)
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