Massive hacks, price targets and a Bitcoin ETF: this week in Crypto

Be sure to check out our previous edition here, now let's move on to what happened in the crypt this week. Also, be sure to sign up for this week's The CCN Podcast on iTunes, TuneIn, Stitcher, Google Play Music, Spotify, Soundcloud, YouTube or wherever you get your podcasts.

Price Watch: [19659004] Bitcoin surged 2.69% this week to $ 6,700, surpassing $ 6,500 last week after fluctuating between $ 6,300 and $ 6,400 before flirting with the $ 6,600 level and the $ 6,200 level a few days one from the other. This week was extraordinarily similar but ended up higher this week starting at $ 6,500 and managing to keep it this week until Monday, when the price hit $ 6.274 before returning to $ 6,500 on Tuesday while some alts like Ripple are increased. The next day was not as fruitful with prices that fell to $ 6,200 and fluctuated between $ 6,200 and $ 6,400. Later in the week, the price managed to regain the $ 6,500 level by showing several bullish indicators in the CCS Yashu Gola analysis. The price finally ended at $ 6,700 as forts like XLM and Ripple continued to gather. The last time we were at this level was in front of the 9 ETFs that were rejected.

Ethereum rose 10% this week to $ 240 after a 16% gain last week. Earnings are a recent phenomenon with the previous week with a decline of 31% last week, 5% the week before and a decline of 11% and 24% in the previous weeks with one- or two-digit decreases dating back to months. The recent decreases continued to be attributed to ICO sales and recent price gains were seen by analysts as evidence of the return of the price. It was not until last Thursday that, despite the negative statements of Vitalik, the price has increased by 9% and analysts have said that we would finally have reached the "fund" . This week all earnings were not priced below $ 200 Monday

The entire market capitalization of coins has increased by 8% since Ethereum, Ripple and Stellar have recorded strong earnings. Bitcoin gains relatively small market gains as it has sought to regain the $ 225 billion level.

Objectives:

• Tim Draper is bullish $ 250,000 Bitcoin – Billionaire Tech Tim Draper holds his bitcoin price target of $ 250,000 for 2022. Despite the recent collapse, Draper remains undaunted in his perspective enthusiast for the largest virtual currency within the market capitalization
• Novogratz sets $ 10,000 Target price for 2018 – Billionaire investor Michael Novogratz, a legendary former former hedge fund manager, formerly of the Investment Fortress Investment Group, said the price of Bitcoin will probably increase by 30% by the end of 2018.

Governments:

• United States Rep. Emmer presents 3 Blockchain Bills – Friday, Tom Emmer (R-MN) has announced it will introduce three new bills to support the development of blockchain technologies, as well as the use of cryptocurrency in the United States. States. The first bill is a solution to express support for cryptocurrency and blockchain technology. The second bill, the Blockchain Regulatory Certainty Act, states that some entities such as cryptocurrency miners and multi-signature providers, who never completely take over consumer funds, will not need to be registered as money transmitters. The third proposed law, Safe Harbor for Taxpayers with Forked Assets Act 2018, aims to address the confusion surrounding the way to report gains made as a result of the cryptocurrency fork to the Internal Revenue Service (IRS).
• SEC begins revision of Bitcoin's ETF with physical support – The US Securities and Exchange Commission (SEC) announced Thursday that it initiated a formal review process for ; Bitcoin ETF, proposed by VanEck and SolidX. The moment of order is rather surprising. CBOE first filed the shares of VanEck Solidx Bitcoin Trust in June, and in August the SEC postponed the ruling on the application, setting a new deadline of 30 September. Many analysts, including the Canadian Canaccord, have hypothesized that the SEC would probably delay the decision on the fund at least once (and probably twice) more, until March 2019. Read the entire order: [19659014] VanEck SolidX Bitcoin Trust Order of CCN on Scribd
• Report: the crypto norms of India that cause the exodus – According to a recent report of News 18, a considerable number of developers, service providers and other organizations within the cryptocurrency and Indian blockchain have already fled or are fleeing India to jurisdictions with more friendly regulatory provisions such as Thailand, Estonia and Switzerland. The reports come in the wake of the Reserve Bank of India (RBI) filing a sworn statement to the Supreme Court stating that under the provisions of the Coinage Act and the RBI Act, bitcoin is not recognized as a valid payment system under the constitution Indian because there is no legal support for this and the Indian banking ban on crypto purchases.
• Canada to Study Cannabis Cryptomarkets – The Department of Public Security Canada is trying to commission a study that will shed light on cryptomarkets – online drug markets that rely on the TOR browser and cryptocurrencies – for the North American country and its citizens. According to a notice published online, the study will focus on both buyers and cannabis sellers on cryptomarkets. The move comes on the heels of the dizzying rise in prices of publicly traded cannabis stocks.
• U.S. Navy explores the Blockchain to improve the monitoring of the parts of the aviation – Naval Air Systems Command of the United States Navy (NAVAIR) is currently exploring blockchain technology for the monitoring of the parts of the aviation throughout the its life cycle. The Navy has partnered with Indiana Technology and Manufacturing Companies (ITAMCO) in the co-operative research and development agreement, NAVAIR hopes to obtain "access to chain codes at the forefront" and innovative protocols able to "recall large data sets" quickly and safely.
• 5 members of the Congress "strongly urge" the IRS to update the bitcoin taxation guidelines -In a letter dated September 19th and published on the website of the House of the Ways and Means, five representatives – Kevin Brady (R-TX), David Schweikert (R-AZ), Lynn Jenkins (R-KS), Darin LaHood (R-IL) and Brad Wenstrup (R-OH) – "strongly urged" IRS to provide complete and up-to-date guidelines on federal tax obligations associated with the sale of cryptocurrency assets, through negotiation or other means. The letter follows a letter sent last May that expresses concern over the agency's decision to increase the enforcement of cryptocurrency violations without also adopting a "global virtual currency strategy" to help taxpayers navigate with greater security in the turbid regulatory code.
• Sheila Bair, former president of the FDIC: We need a federal framework to regulate cryptocurrencies – Sheila Bair, former president of the Federal Deposit Insurance Corporation (FDIC), says the time has come to set up a regulatory framework Formal Federal by Rule the cryptocurrencies.
• Kraken vs. New York Attorney General – In the ongoing feud between the New York Attorney General and Kraken CEO Jesse Powell, another round of shots was fired. New York published its "Virtual Markets Integrity Initiative" report. Powell criticized other exchanges for responding to the questionnaire and thanked the tax payers for funding the research and providing information on its competitors. The report specifically targeted Kraken among other exchanges that did not participate, including Huobi, Gate.io and Binance. Powell continued to accuse the attorney general of manipulating bitcoin futures. In the same series of Tweets, appears a Bloomberg journalist who had used the term "red flags" in reference to Kraken was mocked.
• Cases of cryptocurrency theft in Japan tripled in H1 2018, $ 530 million Stolen: Police – Following the news that the exchange of Zaif's Japanese cryptocurrencies had been breached and slightly less than 60 million dollars stolen, The Japan National Police Agency (NPA) has published a report highlighting the vulnerability of Japanese cryptographic space.

Businesses and Exchanges:

• Japanese cryptocurrency exchange Zaif Hacked, $ 59 million loss – Japanese cryptocurrency exchange Zaif was the victim of a major attack last week, local sources said. company has confirmed. The hack, which happened on September 14 but was not discovered until September 17, saw the hackers steal various amounts of bitcoin, bitcoin money and monacoin from the hot wallet of the exchange, for a total value of 6.7 billion yen (just under $ 60 million).
• Bitcoin Mining Giant Bitmain unveils the 7nm chip "Next Generation" – Bitmain's Chinese CEO Jihan Wu announced on Friday to have developed a new 7nm-chip mining application ASIC (specific integrated circuit) for the SHA256 algorithm used by bitcoins, bitcoin cash and many other cryptocurrencies. The announcement came just two days after the competitor Bitfury presented a new ASA SHA256 chip. The announcement also comes before the initial public offering of Bitmain (IPO), which apparently will take place "very soon."
• The largest port operator in the UK to explore the Blockchain solution – The private run UK The port operator, Associated British Ports (ABP), signed a memorandum of understanding with Marine Transport International shipper to explore a blockchain technology application to improve connectivity in the 21 managed ports.
• Coinsquare Lists Blockchain ETF On Toronto Stock Exchange – Coincapital, which is registered with the Ontario Securities Commission, became the new ETF provider in Canada following the introduction of the LDGR and STOXX BRAI.N . Index Fund (THNK), the company's first ETFs. The ETF selections are based primarily on the deposition of intellectual property patents blockchain, which allows the fund to identify blockchain adopters and innovators. The selections also use the iSTOXX Yewno Developed Markets Index Blockchain Index
• AntPool to sponsor the Houston Rockets NBAs – A partnership agreement signed by AntPool and Houston Rockets for the 2018-2019 professional season and will be valid as one of the significant moves of the company based in China towards achieving its expansion objectives in the Houston area. At the same time, this is combined with the growing number of similar programs of awareness and publicity experimented by cryptocurrency in recent times, especially in association with the sports industry.
• IBM: Blockchain for Drone Fleet Security – Giant computing and prolific blockchain researcher, IBM asked to patent a system that would use distributed ledger technology (DLP) to address the privacy and security issues associated with growing use of drones in commercial and recreational applications. The patent is similar to a patent application from Walmart that tried to use blockchain technology to protect parcels through a supply chain consisting of robots and autonomous vehicles.

Crimes:

Noteworthy:

These are some pieces that have been particularly appreciated this week.

• The decentralized Crypto Exchange is a solution for hackers, will they be ready? – Analysis of the development of decentralized exchanges in the wake of successful hacking attempts on the cryptographic exchanges Bithumb and Coincheck and more recently Zaif

Featured image from Shutterstock.

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