Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, September 21

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, September 21

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. Michael Novogratz, founder of the digital asset management firm Galaxy Digital, has recently reiterated his view that cryptocurrencies have hit a bottom and a rebound is due. He believes several institutional players might invest in the market, boosting prices. It, however, will be a slow grind higher. We have also been maintaining that the rally this year will be a gradual upward move, unlike the vertical increase seen in 2017. Another billionaire investor, Tim Draper is unperturbed by the continuous decline in crypto, viewing it as a buying opportunity and sticking to his target of $250,000 by 2022. In regards to the news, the hack of a Japanese crypto exchange Zaif has not resulted in any panic selling, which shows that the bears are currently unable to capitalize on adverse headlines. The U.S. Securities and Exchange Commission (SEC) has said it had not “reached any conclusions with respect to any of the issues involved,” with the Bitcoin exchange-traded fund (ETF) proposal backed by investment firm VanEck and financial services company SolidX. The Commission has requested further comments on the matter. This keeps the hope alive that an ETF might become a reality sooner than most expect. When an asset class doesn’t fall on adverse news but rises on minor positives, it indicates that the investors are looking for reasons to buy. So, which are the cryptocurrencies that are showing a bottom formation? Let’s find out. BTC/USD Bitcoin has broken out of both moving averages. It should now move up to the downtrend line of the descending triangle, which will act as a stiff resistance. The cryptocurrency has turned down four times from this line, making a lower high on each occasion. This sequence will be broken if the bulls can push price above the previous lower high of $7413.46. Such a move will invalidate the descending triangle, which is a bullish sign. The positive divergence on the RSI is another indication of accumulation at the support. The zone…

Report Finds Cryptojacking Instances Jumped 400% In A Year

Report Finds Cryptojacking Instances Jumped 400% In A Year

Instances of cryptojacking malware have jumped more than 400 percent since last year, a new report finds. A collaborative group of cybersecurity researchers called the Cyber Threat Alliance (CTA) published the report Wednesday, detailing the various and repercussions from cryptojacking – the illicit practice of hijacking a user’s computer to mine cryptocurrencies. Most notably, CTA points out in the research that the number of instances of illicit mining malware found has sharply spiked in the months from the close of 2017 to end of July 2018. The report states: “Combined data from several CTA members shows a 459 percent increase in illicit cryptocurrency mining  malware detections since 2017, and recent quarterly trend reports from CTA members show that this rapid growth shows no signs of slowing down.” In the key findings document, the alliance points to a particular exploit that has been plaguing the security world for over a year, Eternalblue, as one of the leading causes. Eternalblue is the infamous NSA exploit that was used in the Wannacry ransomware and NotPetya attacks. The CTA’s analysis explains that a number of Windows operating systems remain vulnerable to the bug, despite a patch released by Microsoft. As such, these systems run a vulnerable network file sharing protocol dubbed SMB1. Malicious actors target these susceptible machines for their processing power, which even simple cryptojacking software can hijack. In fact, these actors have even begun repurposing existing software to specifically mine cryptocurrencies, the report said, explaining: “Researchers noted in February 2018 that the BlackRuby Ransomware family began ‘double dipping’ by adding the open-source XMRig software to their tools to mine Monero. The VenusLocker Ransomware family completely shifted gears, dropping ransomware for Monero mining. The Mirai botnet, notable for its 2016 DDoS attack that used IoT devices to impact substantial portions of U.S. internet services, has since been repurposed into an IoT-mining botnet.” Further, by decreasing the mining rate, the malware can easily and cheaply be scaled across a network in large organizations and persist on the host computer for a longer time, resulting in a larger pay-out. Palo Alto Networks, one the partners in the alliance, found that Coinhive dominates in terms of software used by malicious actors, with some 23,000 websites containing Coinhive source code. Moreover, the group of security firms has noticed that malicious actors…

Novogratz Says Crypto Market Showing ‘Classic Bottom’

Novogratz Says Crypto Market Showing ‘Classic Bottom’

Michael Novogratz, the founder of the cryptocurrency asset management firm Galaxy Digital, believes the market has hit a bottom. The market is experiencing “seller fatigue,” Novogratz contended while speaking at Yahoo Finance’s second annual All Markets Summit on Thursday, and added further that bitcoin, the biggest cryptocurrency by market capitalization, is now on the upswing. Indeed, bitcoin is showing signs of life, having persistently found takers around $6,000 in the last three months. Hence, the signs indicate that the bears have likely run dry. Novogratz also took note of the “classic bottom” in Galaxy Digital’s cryptocurrency index, which is down more than 80 percent from its peak. The valuations are cheap by December standards, and that could entice bargain hunters and investors like Novogratz who view bitcoin as a store of value. “Bitcoin has held $6,000. Yes, it is off its highs, but it has established itself as a store of value,” Novogratz said, according to a report from Reuters. The billionaire investor also told attendees that, in his view, plenty of money is waiting on the sidelines. Novogratz similarly touched on the recent craze around cannabis-related stocks, noting that the investor fervor “feel[s] like bitcoin and ethereum did in December of last year,” according to a separate report from CNBC. “The companies trade up to $28 billion on almost no revenue,” he was quoted as saying by the network. “If I was long them, I’d sell them and if you’re a speculator, I’d get short them.” Photo by Brady Dale for CoinDesk The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

PR: iCoinbay Rolls Out Trading Premium Gain Plan

PR: iCoinbay Rolls Out Trading Premium Gain Plan

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. iCoinbay released a new trading campaign entitled [Trading Premium Gain]; iCoinbay is a tokenized, community-based digital asset exchange. This new campaign allows traders who use the platform to increase their earnings through normal trading activities. According to publicly released information, the plan can be summarized as follows: 1.Issuance of TPG tokens worth 100% the value of transaction feesAccording to their released “TPG White Paper”, iCoinbay thinks that users’ normal usage of the platform should count as contribution to the community. With each transaction, a corresponding amount of the platform’s token, TPG, will be issued to the trader(s). 2.70% of exchange income distributed to TPG holders As described in their white paper, holders of the platform’s TPG tokens have the right to income distribution. Each week, iCoinbay will distribute 70% of previous week’s income to community members, based on the proportion of TPG held. 3.Pioneer insurance system designed specifically to protect TPG valueThe interesting part is that iCoinbay has also rolled out an insurance system. In order to better protect TPG holders from price fluctuations on the secondary market, iCoinbay’s campaign includes an insurance policy specifically made for TPG tokens. No matter how the market moves, after 100 days, holders of TPG will be able exchange them for stablecoins at their originally issued price. iCoinbay uses the theory of a token economy as the basis for their platform, and develops each aspect of their business with three values in mind: joint development, joint success, and joint responsibility. Although tokens and blockchain are two different things, the driving force behind blockchain’s recent explosion in popularity has actually been the token economies that developed around Bitcoin, Ethereum, etc. Another way to put it is that blockchain is the stage for a new world, and tokens are the main actors on this stage. Based on this, iCoinbay is concentrating on building an exchange that allows community members to trade safely while using traditional financial measures (such as insurance) to protect the value of traded…

Brave Browser Is Using Civic’s Blockchain Platform to Verify Publishers

Brave Browser Is Using Civic’s Blockchain Platform to Verify Publishers

Privacy-focused internet browser Brave will begin using blockchain identity startup Civic’s verification services to ensure publishers are paid for their content with Brave’s Basic Attention Token (BAT). The companies announced Friday that content producers hoping to participate in Brave’s “verified publishers” program can use Civic’s identity verification and know-your-customer (KYC) services to confirm their identities and earn BAT tokens. Both startups maintain a focus on protecting users’ identities and personal information through their services. Brave’s platform works by allowing its users to pay for content by anonymously donating BAT tokens through Brave’s browser, which publishers then receive. With the new collaboration, publishers who verify their authenticity can directly connect an ethereum wallet to receive payments. Civic’s “Reusable KYC” program will ensure that these publishers can verify their identities while maintaining some sense of privacy. These publishers will also be able to use mobile devices or similar platforms to collect payments. Civic co-founder and CEO Vinny Lingham noted in a statement that Brave has been working to combat privacy challenges on the internet, explaining: “As Brave is experiencing exponential publisher and user growth, implementing Civic will enable more people to safely and securely utilize the Brave platform while establishing and sustaining trust between publishers and users. We’re thrilled to partner with Brave and bring our trusted identity verification services to help build a better browser with the benefits of blockchain technology.” Brave currently has 4 million monthly users on average, the press release stated. More than 21,000 publishers have opted into Brave’s program, including the Wall Street Journal, MarketWatch and Barron’s. Brave CEO and co-founder Brendan Eich said in a statement that his platform “directly connects users and publishers in a transparent system to guarantee privacy and authenticity, without the intermediaries that harvest user data.” Brave image via bangoland / Shutterstock The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Bitmain CEO Announces New 7nm Bitcoin Mining Chip

Bitmain CEO Announces New 7nm Bitcoin Mining Chip

The bitcoin mining industry is having an exciting couple of days. Just a day after Bitfury revealed a new 14nm mining chip called the Bitfury Clarke, Bitmain has upped the ante with the announcement of a new 7nm application-specific integrated circuit (ASIC) processor that it says offers better hashing power and energy efficiency over older models. The ASIC – a powerful type of chip designed for specific types of computation – was announced Friday by Jihan Wu, CEO and co-founder of the Beijing-based firm, at the World Digital Mining Summit in Tbilisi, Georgia. Designed to mine cryptocurrencies using the SHA256 algorithm – a group that includes bitcoin – the “BM1391” chip will also be powering an upcoming range of Bitmain’s Antminer series of mining machines, Wu said, according to a company blog post. The company says BM1391 uses an advanced semiconductor manufacturing technology called 7nm FinFET, integrates “more than a billion transistors” and is optimized for energy efficiency. Wu further said said that, in tests, the chip “can achieve a ratio of energy consumption to mining capacity that is as low as 42J/TH.” So far the firm has not released detailed specifications for the new ASIC, however. Bitmain says it is now moving to mass-produce the new ASIC. As reported by CoinDesk, Bitfury launched its 14nm Clarke chip Wednesday, saying it “offers the strongest performance among bitcoin mining chips and is unparalleled in efficiency.” The ASIC is said to have power efficiency up to 55 mW/GH and a hashrate up to 120 GH/s. In June, Japanese tech giant GMO also said it was launching the “world’s first” 7nm ASIC, slating the first shipments for October. According to a report at the time, the chip was to be fitted in a new miner called the B2. That machine will reportedly provide a hash rate of 24TH/s and power consumption of 1,950W per unit – which breaks down to 81W per 1 TH/s. Jihan Wu image via CoinDesk The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Reports: Taiwan Police Arrest Cody Wilson Following Assault Charges

Reports: Taiwan Police Arrest Cody Wilson Following Assault Charges

Taiwan police have arrested Cody Wilson just days after U.S. police accused him of sexually assaulting a minor, a CBS affiliate reported Friday. Citing the Taiwan Criminal Investigation Bureau (CIB), CBS Austin said Wilson was arrested this morning. The arrest was seemingly confirmed by the Taiwan News, a 60-year-old media outlet based in the country. CoinDesk was unable to confirm the arrest with the CIB as of press time. The Central News Agency, a state-owned news organization, also reported the arrest, adding that Wilson would be deported to the U.S. “as soon as possible.” The Taiwan News further reported that Wilson was attempting to rent an apartment for six months at the time of his arrest. While he paid a deposit, he never collected his keys, and was later taken in by authorities. Police from the city of Austin, Texas filed an affidavit against Wilson Wednesday, claiming he paid for sexual intercourse with a 16-year-old female last month. The act was first reported to police by a counselor who the victim confided in. The affidavit details numerous instances of video surveillance connecting Wilson and the victim, as well as some of the testimony used to identify him. Wilson is perhaps best known for the controversy surrounding his efforts to make plans for a 3D printed gun publicly available. He is in an ongoing legal battle with U.S. authorities over whether he has the right to distribute such plans through his company, Defense Distributed. Prior to that, Wilson was known for helping to develop the DarkWallet, a privacy-focused bitcoin wallet. Editor’s note: Some statements in this article were translated from Chinese. Image Credit: 71 Republic/YouTube The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Bitmain Announces Next-Generation Antminer Equipped With 7nm Chip

Bitmain Announces Next-Generation Antminer Equipped With 7nm Chip

Mining At the World Digital Mining Summit in Tbilisi, Georgia the blockchain firm and mining manufacturer, Bitmain Technologies, announced a new Antminer will be launched soon equipped with 7nm semiconductor technology. The firm’s CEO Jihan Wu reported that Bitmain’s next-generation ASIC BM1391 Finfet chip integrates more than a billion transistors for optimal SHA256 mining performance. Also Read: Japanese Regulators Urgently Respond to Zaif’s Hack Bitmain Announces the Production of New Antminers With 7nm Technology Over the past few months, a slew of new SHA256 mining rigs and new semiconductors have been revealed to the public. New mining rig models with far better performance and efficiency are being manufactured by GMO Group, Canaan, and other companies. Bitmain Technologies has been releasing new miners, but most of them have been for different consensus algorithms and not SHA256. The last Bitcoin (SHA256) miner the company revealed was a new water-cooled Antminer that focuses more on operation longevity. On Friday, the firm’s CEO Jihan Wu made an announcement at the World Digital Mining Summit in Tbilisi, Georgia, revealing the next Antminer is coming soon. On stage, Mr. Wu explains that Bitmain has created a new 7nm semiconductor that integrates more than a billion transistors called the BM1391 chip. According to the company the 7nm Finfet design is built for maximum efficiency. Mr. Wu emphasizes the new model creates a circuit structure that can process a significant hashrate while keeping low energy at the same time. According to BM1391 tests, Bitmain notes the ratio of energy consumption to the mining capacity is as low as 42J/TH. Bitmain CEO Jihan Wu announces the manufacturing of new Antminers equipped with 7nm chip technology at the World Mining Summit in Tbilisi, Georgia. Blockchain Innovation Bolstering Hardware and Software Acceleration Mr. Wu also detailed during his keynote speech at the summit, the firm will begin mass production of the new 7nm equipped Antminers. The Bitmain CEO explains he is a big believer in blockchain technology and as “applications continue to develop, the industry’s market capitalization as a whole will drive growth.” This, in turn, produces better data processing, and hardware and software acceleration tethered to this innovative protocol, Mr. Wu explains at the summit. Mr. Wu notes the competitive process Bitcoin has unleashed on the mining…

Petro to Be Used for International Exchange Starting in October, Maduro Claims

Petro to Be Used for International Exchange Starting in October, Maduro Claims

Venezuela’s oil-backed cryptocurrency, the Petro, will be used for international commercial transactions starting in October 2018, according to a September 21 statement made by Nicolas Maduro. The Venezuelan president appeared on the national VTV channel to deliver his speech on the latest economic issues. As cited by the VTV website, he then announced the upcoming use of Petro on an international level, stating: “Petro comes into play as a currency for exchange, purchase and convertible currencies for the world.” However, the Venezuelan leader did not specify the areas where the Petro will be used, nor did he name any of countries ready to accept the oil-backed cryptocurrency as payment. Maduro’s announcement on the Petro trading internationally comes amid an alarming Reuter’s report on the nature of the state-owned coin that was first launched in February 2018. According to the news agency’s investigation, the Petro does not currently trade on any of the major global crypto exchanges, nor it is backed yet with Venezuelan oil, as the Atapirire area that Maduro claimed was the actual petroleum center for backing the coin shows no signs of recent activity. Furthermore, the Reuter’s article cited former Oil Minister Rafael Ramirez who wrote that “the petro […] only exists in the government’s imagination.” As experts told media outlet Wired in August, the state-owned currency was reportedly backed by national oil company PDVSA, which in fact had $45 billion in debt and showed no signs of any trading activity. Some experts, according to Wired, tended to think the Petro was a “smoke curtain” to conceal Maduro’s recent failure to reanimate the national fiat currency, the sovereign bolivar. Despite all claims about the Petro’s insolvency, Maduro has tied the national coin to economic reforms. According to a recent statement, the Petro reportedly became Venezuela’s second government currency along with the bolivar, having started its circulation on August 20. As Cointelegraph reported later in September, Venezuela announced that the currency would be used as a unit of account within the country, making salaries and pricing systems be tied to Petro. According to Maduro, the Petro has also been used in local social programs for funding the construction of houses for homeless.

Ripple Passes Ethereum to Claim Number Two Ranking on CoinMarketCap

Ripple Passes Ethereum to Claim Number Two Ranking on CoinMarketCap

Altcoin Ripple (XRP), which has seen an explosive amount of growth over the past week, has overtaken Ethereum (ETH) to be ranked number two by total market capitalization on CoinMarketCap. As of press time, Ripple has a listed market cap of around $26 billion, while Ethereum — now in third on CoinMarketCap — has around $23 billion in market cap. Bitcoin (BTC) is still ranked number one, with a market cap of around $115 billion. Ripple has seen unprecedented 140 percent growth on the week, up almost 80 percent on the day alone, to trade at around $0.65 by press time. Ripple weekly price chart. Source: Cointelegraph Ripple Price Index At the beginning of this week, Ripple executives hinted that its xRapid payment platform solution could soon be launched. Also this week, PNC, a top ten U.S. bank, announced that it would use RippleNet to process international payments for its customers. Over a 24 hour period, total market capitalization of the crypto markets has gained around $26 billion dollars, with total market cap currently around $228 billion by press time. Daily total market capitalization. Source: CoinMarketCap