Here are the most important cryptocurrency news from December 3rd, 2018:
Will Bitcoin Break Its Three-Year December Price Increase?
December seems to be a favorable month for Bitcoin in the past three years. According to CoinDesk’s Bitcoin Price Index (BPI) – the leader of the cryptocurrency market gained 14% in the December of 2015, 30% in the December of 2016 and 40% in the December of 2017. At this current moment, it seems that Bitcoin will break its three-years gaining streak.
As Coindesk reported, Bitcoin’s break below the 21-month EMA (Exponential moving average) signaled a resumption of the bear market.Right now, BTC is trading below the key EMA – which is a $5,747. This year’s evolution is extremely alike with the 2013 one, when Bitcoin dropped a 33% in value.
In 2010, Bitcoin gained 43% in value in December. Same goes for 2011 and 2012 where Bitcoin surged by 59% and respectively 8%. To maintain the current December gaining streak, Bitcoin would need to rise above the $4,410 resistance established on November 29th. If Bitcoin will continue its last days evolution, it could re-test the recent loww of $3,474. If the price would grow and pass above $4,400 – we can see a rally to $5,000.
G20 Leaders To Work On Cryptocurrency Assets Regulation
The G20 leaders had a summit in Buenos Aires, Argentina. On that summit, the leaders expressed their opinion regarding certain topics and also signed a joint declaration pledging to create a regulatory framework for cryptocurrencies as the Financial Action Task Force (FATF) requires.
On the last summiy from July 2018, the group postponed the decision on cryptocurrency related anti-money laundering measures . They needed to wait until the results of FATF standards review were received. For a sustainable economic growth, the declaration states that cryptocurrency regulation is intended to support “an open and resilient financial system, grounded in agreed international standards,”. As they declared, the benefits of technology needs to be in accordance with the laws, so the risk could be diminished:
“We will step up efforts to ensure that the potential benefits of technology in the financial sector can be realized while risks are mitigated. We will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF standards, and we will consider other responses as needed,”
More details can be found in the Buenos Aires G20 Summit Declaration.
Bitfury’s Newest Partner, Paytomat, Will Help Miners Purchase ASICs Using Lighting Network
Bitfury, one of the most promising cryptocurrency ASIC producers, recently announced a partnership with blockchain-based payment processing system – Paytomat. Using Paytomat’s services, Bitfury customers could soon have access to Lighting Network payments. Paytomat’s clients can use the Lighting Network for instant Bitcoin transactions, while still having the benefits of the blockchain’s security.
They use a merchant’s current POS system – with hundreds of merchants in Italy, Ukraine, Spain and Netherlands. The merchants are small to medium businesses like restaurants, espresso bards, barbershops, e-commerce, sports clubs,etc. This is a huge step forward for Bitfury, Paytomat as well as for the Bitcoin lighting network. According to 1ML, there are now 4,289 nodes, 12,539 channels – a 37.8% increase – and over 453 BTC available on the Lighting Network. With each step forward, Bitcoin is close to become the ”everyday money”, as Charlie Lee previously stated:
6/6 Bitcoin with Lightning Network more closely fits the Bitcoin whitepaper's title: "A Peer-to-Peer Electronic Cash System." This is Satoshi's Vision.
— Charlie Lee [LTC⚡] (@SatoshiLite) October 6, 2018
Yurii Olentir, Paytomat’s CEO declared regarding the partnership :
“Businesses are willing to accept Bitcoin as a payment method, and crypto-enthusiast are willing to pay using it. We’ll give an opportunity to do both of them. But with the Bitfury partnership and implementing of the Lightning Network to our ecosystem, this opportunity becomes really quick and efficient. We’re happy to develop the future of the crypto market together, making fast crypto payments real.”
Tron (TRX) Gets Listed on BitMart and ABCC
Even if the price is still on the red phase, today was a great day for Tron. The Tron Foundation recently made a partnership with Bitmart, one of the top 30 exchanges in the world according to CoinMarketCap. BitMart currently offers 161 trading pairs, and plans to offer full fiat support until the end of 2018.
BitMart Founder and CEO SHeldon Xia commented:
“Public chains give developers, and users access to the network with only one entrance and are based on one set of standards. As BitMart’s long-term vision is to help reach a consensus in the blockchain community, our partnership with Tron will undoubtedly facilitate us to achieve this ambition based on our shared goals.”
Besides this, TRX was also listed on ABCC – a cryptocurrency exchange available is more than 120 countries with support in 12 languages. The daily trading volume of the exchange is $40 Million and its using the native token – AT. ABCC works on a transaction mining protocol. For now, they launched a two week campaign to celebrate the TRX listing on their platform.
Users will receive $4 USDT if they deposit at least 15,000 on ABCC exchange. The bonus is available between 3 and 10 December. Between 5 and 12, there will be a Trading Competition. Winner will get $2,000 in USDT, the second place $1,000 in USDT, he users that rank between 3 and 10 will split $1,000 USDT equally and another $500 USDT for the users between 11 and 20.
Another TRX campaign will be between December 10 and 17th, where users have to trade more than 20,000 TRX to win the great price of 200,000 TRX. The second place will get 100,000 TRX while the users ranked 3rd to 10th will share 100,000 TRX. Also, 50,000 TRX will be split for the traders between 11th and 20th place.
Other Important News
- Morgan Creek CEO Says Bitcoin’s Value Could Be 20x Current Value In The Next 10 Years
- Brad Garlinghouse, Ripple’s CEO, Predicts Banks to Become Crypto Custodians In 2019
- FutureBit Moonlander 2 – Mine Litecoin (LTC) at the comfort of your Home
- Report: At Least 77.6% of Bitcoin Mining Powered by Renewable Energy
- XRP Holders Finally Made Skrill Add the Second Largest Crypto to the Platform
- IOTA Foundation and RIDDLE&CODE Partner to Enable the Industrial Internet of Things
If you’ve missed yesterday’s news, you can read them here: Daily Cryptocurrency News – 2nd December 2018
Image Source: Pexels
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