Crypto in Press [2018-06-12] UPDATE #1 - bitcoin rebound, BitTorrent Sold, Lithuanian Crypto, EOS and more

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#1 Don't count on a bitcoin rebound from the weekend rout any time soon

#2 BitTorrent Sold To Justin Sun, The Founder Of TRON

#3 Lithuania Unveils Detailed Cryptocurrency and ICO Guidelines

#4 EOS Is Launched But Not Yet Live – Here's Why

#5 Apple Bans Cryptocurrency Mining on iPhone

#6 Research: 94 Out Of 100 Successful Blockchain Projects Are Based On Ethereum

#7 NEW: FORBES: This Could Be The Next Big Thing For The Bitcoin Price

1. Bitcoin's plunge below $7,000 to a two-month low indicates the cryptocurrency will have a difficult time recovering, technical strategists say.

"The downtrend that began in early May is still intact and will need to be reversed to signal an improvement for BTC," Robert Sluymer, technical strategist at Fundstrat Global Advisors, said in an email.

For him, $7,777 is the key level bitcoin will have to top to signal an uptrend is underway.

Read more on: https://www.cnbc.com/2018/06/11/dont-count-on-a-bitcoin-rebound-from-the-weekend-rout-any-time-soon-chart-analysts-say.html

2. When it comes to File-sharing, BitTorrent Inc is a well known name, now it’s in the news for being sold to blockchain entrepreneur Justin Sun who is the developer of the TRON platform and TRX cryptocurrency. BitTorrent officials informed the staff about the deal which was closed last week. It has been advised to the staff of the BitTorrent to not reveal information pertaining to this. BitTorrent and Sun both remained away from making any comment over this. Financial details of the acquisition still remain covered.

Read more on: https://marketmongers.com/bittorrent-sold-to-justin-sun-the-founder-of-tron/

3. Lithuania’s Ministry of Finance has published comprehensive guidelines for cryptocurrency and initial coin offerings, covering four areas including regulations, accounting, and taxation.

Read more on: https://news.bitcoin.com/lithuania-cryptocurrency-ico-guidelines/

4. Visit any EOS Telegram channel and some version of this question will pop up again and again: Is the mainnet live yet?

While the EOS blockchain technically launched on June 10 at 13:00 UTC, the answer to that question is effectively no. That's because the crypto tokens created by Block.one's $4 billion EOS initial coin offering (ICO) are locked up until the network elects 21 "block producers" (the equivalent of miners for the new network), and as that still hasn't happened, currently no one can start using EOS just yet.

Read more on: https://www.coindesk.com/eos-launched-not-yet-live-heres/

5. Apple recently announced new restrictions on the use of cryptocurrencies on iPhones and iPads as pointed out by AppleInsider. The tech giant has recently updated its developer guidelines to ban mining cryptos. It appears though that Apple is not happy with users of their devices undertaking this practice. The new rules introduce more app restrictions, targeting

Read more on: https://news.bitzamp.com/apple-bans-cryptocurrency-mining-on-iphone/

6. According to cryptocurrency analyst Kevin Rooke, 94 of the 100 best blockchain projects based on the Ethereum platform.

Ethereum network deserves to be one of the leading blockchain platform for smart contracts. He also noted that the Ethereum community consists of more than 250 thousand developers.

"The industry is still really small [and thus], 250,000 is a shocking number. Ethereum’s development framework called Truffle already has more than 500,000 downloads and even through the price fall of 2018, development interests have continued to rise,” said Rooke

Read more on: https://en.bit.news/research-94-100-successful-blockchain-projects-based-ethereum/

7. The Bitcoin price has been struggling so far this year, this past weekend dropping more than 10% and taking its year-to-date losses to 50% of its January peak.

There's been a lot of negative news for Bitcoin and cryptocurrencies lately, from cyber hacks, dwindling transactions, sky-high power consumption, and criticism from the world's established financial industry.

But there have been some bright spots too — transaction fees are down, the number of stores accepting Bitcoin both online and in the real world are up, and regulators appear to be favouring a soft touch.

One of the best things for the Bitcoin price this year has been the interest from some of the world's biggest trading platforms and exchanges — with at least two expected to announce they will soon allow large investors to buy and hold Bitcoin.

Read more on: https://www.forbes.com/sites/billybambrough/2018/06/12/this-could-be-the-next-big-thing-for-the-bitcoin-price/#58e102a733f3

 
 
 

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