Crypto News – 12 April – Stack Overflow’s research on Bitcoin adoption, #JeSuisHodlonaut trends and more
— AMBCrypto (@CryptoAmb) 12 April 2019
Daily Crypto News – April 12
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2) Did Assange orchestrate Bitcoin dip? : In what could be the conspiracy theory of the day, two YouTubers, That Martini Guy and Mr_Kristof, alleged that the Founder of WikiLeaks orchestrated the cryptocurrency’s price fall yesterday after he liquidated over 4K BTCs worth $20 million through cryptocurrency exchanges.
Read more at https://bit.ly/2PeeCeB
3) US Congressmen on cryptocurrency laws: The congressmen requested the IRS to clarify three major areas that will help in alleviating the confusion surrounding the cryptocurrency industry.
Read more at https://bit.ly/2Gl79HB
4) Vitalik Buterin on possible ETH hard fork: Jimmy Song’s question regarding a scenario where the US Court orders an ETH hard fork grabbed Vitalik Buterin’s attention, who stated that this question was raised in the past, attaching the link to a video where he addressed these concerns.
Read more at https://bit.ly/2UerhyT
5) Goldman Sachs CEO on crypto-trading desk: Goldman Sachs’ Chief Executive Officer, David Solomon stated that the company never had any plans to start a cryptocurrency desk, during a House of Representatives panel meeting.
Read more at https://bit.ly/2KG2XGq
6) Money Tap loses partner: In a major setback to the Ripple-XRP ecosystem, Japan’s Resona Bank announced that they would be discontinuing cooperation with Money Tap. According to an official statement released by the bank, their collaboration would come to an end on May 13, 2019.
Read more at https://bit.ly/2v6GEz3
7) Bithumb registers $180 million loss: Bithumb, one of South Korea’s largest cryptocurrency exchange platforms, reportedly turned in a net loss of 205 billion Korean Won, approximately worth $108 million in 2018, according to KoreaTimes.
Read more at https://bit.ly/2P7aLzD
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Bitcoin SV surges by 6.84% in an hour; community speculates massive behind-the-scenes pump
The cryptocurrency market has witnessed major price hikes over the past few weeks, with Craig Wright’s Bitcoin SV emerging as the market’s unlikely performer. The Craig Wright-backed virtual asset, which is supposed to follow Satoshi Nakamoto’s original idea, outperformed every top 10 cryptocurrency over the past week, recording a growth rate of 22.86%.
At press time, the coin had recorded a price hike of 6.84% over the hour, with the coin valued at $228. The coin was traded the highest on CoinBene exchange, where the trading pair of BCHSV/USDT gathered a volume of $96 million. The exchange was closely followed by ZBG exchange, where the trade accounted for 13.62% of the entire trading volume.
According to the chart released by Trading View, a massive green candlestick can be observed. The chart also indicated that at press time, the candles were charting over the Moving Average [MA]. This suggested that extremely high trading volumes were pegged with Bitcoin SV.
Many in the community have speculated that the surge might be due to a massive dump of the coin in the market, after the token hit stagnation since pumping by more than 247 percent recently. The aforementioned price pump pushed the price of the coin from $53.22 to $250.
Previously, it has been suggested that the major pump witnessed within the Bitcoin SV ecosystem might be laden with market manipulation, implying the participation of illicit entities in the conduct of a “pseudo-pump” of BSV’s market. Further, the de-listing of BSV by major exchanges such as Binance may have made it more susceptible to sudden price movements, according to some.
At press time, Bitcoin SV was positioned 8th on the cryptocurrency charts. Despite the pump however, historical trends suggest a major price correction may be in the offing too.
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