n Bitcoin hovers near the ,100 mark as the top 20 cryptocurrencies see mixed movementsn
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BTC Holds Above $5,000, Traditional Markets See Mixed Signals
n While the U.S. markets are affected by Trumps threat to impose billion in tariffs on EU goods, Bitcoin is holding above the ,200 resistance linen
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Bitcoin Stays Near $4,100 as Top Cryptos See Mixed Movements
n Bitcoin is staying near ,100 as the top 20 cryptocurrencies are reporting mixed movements on the dayn
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Bitcoin Pushes Past $4,100 as Top Cryptos See Mixed Movements
n Bitcoin reaches over ,100 as the top 20 cryptocurrencies are reporting mixed, mostly slight, movementsn
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Major Coins See Mixed Signals, Gold Reacts Positively to US Federal Reserve Decision
n Crypto markets are relatively quiet with minor losses throughout the top 20 coinsn
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Bitcoin Cash Grows as Major Oil Futures Show Mixed Movements
n Bitcoin Cash sees gains as most of the top cryptocurrencies and Bitcoin are reporting slight to noteworthy losses on the dayn
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QuadrigaCX Imbroglio Takes a Turn After Widow Claims CEO Mixed Personal and Company Funds
The crypto community has been sitting at the edge of their seats watching the complex and nuanced situation surrounding the now defunct QuadrigaCX exchange unfold. Recently, news broke that Big Four Auditing Firm, Ernst & Young (EY), had discovered that the exchange’s cold storage wallets were nearly entirely empty, which came as a surprise to many hopeful victims of the exchange.
Now, however, the situation has grown in complexity after the widow of QuadrigaCX’s now deceased co-founder and CEO, Gerry Cotton, claimed that he was mixing his personal funds with company funds in an effort to make customers whole during a previous legal battle with a bank.
QuadrigaCX’s Troubles Began Far Before CEO’s Death
Although the crypto community first grew aware of QuadrigaCX’s illiquidity following Cotton’s death earlier this year, a recent statement from his wife and the executor of his estate, Jennifer Robertson, elucidates that the exchange’s troubles began long before his death.
“While I had no direct knowledge of how Gerry operated the business, he told me that he had been putting his own money back into QCX to fund user withdrawals in 2018 while the CIBC money remained frozen,” Robertson explained in a recent statement to CoinDesk that was sent by law firm Stewart McKelvey.
Her statement comes just a few weeks after court-appointed auditing firm Ernst & Young discovered that the cold wallet addresses associated with the exchange were empty, which dispelled the rumor that the stem of the exchange’s problems was simply a lack of access to user’s funds.
Furthermore, as NewsBTC previously covered, an investigative report published on the Zerononcense Blog has claimed that Cotton may have been moving up to 600,000 Ethereum (ETH) from cold storage and into a plethora of exchanges.
“Based on the transaction analysis included in the report, it appears that a significant amount of Ethereum (600,000+ ETH) was transferred to these exchanges as a means of ‘storage’ during the years that QuadrigaCX was in operation and offering Ethereum on their exchange… it is very possible that QuadrigaCX, the creditors, and other entities are unaware of this discovery,” the Zerononcense Blog report explained.
Do the Exchange’s Victims Have a Chance of Recovering Their Lost Funds?
If it is true that Cotton had been transferring hundreds of thousands of ETH into accounts held at various cryptocurrency exchanges, and these funds can be tracked, then there is a possibility that the victims of QuadrigaCX’s illiquidity may be able to recover some, or all, of their lost funds.
Robertson further affirmed in her statement that her main goal is to is to give affected users the greatest chance of recovering their lost assets.
“Following my husband, Gerald (Gerry) Cotten’s sudden and unexpected death, I arranged for the CCAA process to start by providing the initial funding and agreeing to act as a director of the Companies. The goal from the outset of the CCAA proceeding was to benefit QCX and the Affected Users by giving QCX the greatest chance of recovery of its assets,” she claimed.
At the time, it still seems as though user’s best chance of recovering any funds is that the ETH Cotton reportedly transferred is still sitting, untouched, in accounts on the various exchanges.
Featured image from Shutterstock.
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Bitcoin Hovers Under $4,000 as Top Cryptos See Mixed Movements
n Bitcoin hovers under the ,000 mark as the top 20 cryptocurrencies are reporting mixed movementsn
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Analysts Expect Ethereum (ETH) to See Increased Bullish Momentum as Crypto Markets Trade Mixed
The crypto markets have experienced decent levels of bullish momentum over the past couple of weeks that has allowed virtually all major cryptocurrencies to recover some of their recent losses. Ethereum (ETH) is one notable gainer that has jumped nearly 45% from its monthly lows and has firmly reclaimed the number two spot by market capitalization from XRP.
Analysts now concur that Ethereum will likely see increased bullish momentum in the near future, which may allow it to climb towards the upper-0 region.
Ethereum Climbs Slightly as Crypto Markets Experience Mixed Trading Session
Most cryptocurrencies have traded mixed today, with Litecoin and EOS both climbing over 5%, while other cryptos have dropped marginally.
At the time of writing, Ethereum (ETH) is trading up slightly at its current price of 7.3. Over the past seven days ETH has climbed significantly from lows of roughly 0. Prior to its upwards move this past weekend, Ethereum had experienced another upwards leg that sent it to 0 from lows of 3.
Although this upwards ascent has slowed slightly over the past couple of days, analysts are now anticipating that Ethereum will see increased bullish momentum in the near future.
Galaxy, a popular cryptocurrency trader on Twitter, recently noted that ETH will be “highly bullish” if it is able to break above 0, which would likely lead to further gains.
“Highly bullish on $ETH if we manage to break 160$ and produce the first higher high on a 1D or bigger timeframe, since June 2018,” he bullishly noted.
Highly bullish on $ETH if we manage to break 160$ and produce the first higher high on a 1D or bigger timeframe, since June 2018. pic.twitter.com/yUHGShkfns
— Galaxy (@galaxybtc) February 20, 2019
Gat, another popular analyst on Twitter, shared a similar sentiment to Galaxy, noting in a string of tweets that ETH is currently seeing a strong hidden bull diversion on a four hour time frame, which could lead it into the upper 0 region.
“$ETH looking strong IMO… looking for a breakout and move to high 150’s… Strong hidden bull div on 4hr.”
Strong hidden bull div on 4hr pic.twitter.com/P6wtL2qBVQ
— Gat (@TheGemClub) February 20, 2019
Gat further noted that an upwards move of any significance will require a greater amount of volume than ETH currently has.
“All of these charts I posted require some volume, which if you notice is coming in at resistance… bull vs bear fight, price action will show which side wins, volume shows the fight,” he explained.
all of these charts I posted require some volume, which if you notice is coming in at resistance
bull vs bear fight, price action will show which side wins, volume shows the fight
— Gat (@TheGemClub) February 20, 2019
Despite Widespread Bullish Sentiment, ETH May Drop Lower Before Surging
Although most analysts agree that there is a strong case to be made for continued bullishness, another analyst points out that ETH may drop towards the upper-0 region before finding enough buying pressure to propel it towards 0.
“$ETH Update: Pull back now in play as anticipated from previous tweet… Scalp short triggered at 4.8, will consider longing again at support,” Altcoin Psycho told his nearly 30k followers in a recent tweet.
$ETH Update: Pull back now in play as anticipated from previous tweet.
Scalp short triggered at 4.8, will consider longing again at support pic.twitter.com/SNjeFgj26d
— Altcoin Psycho (@AltcoinPsycho) February 19, 2019
As Ethereum begins picking up momentum in one direction or another, traders will likely gain greater insight into whether or not ETH will be able to hold steady at its current prices, or if further losses are necessary in order for it to climb higher.
Featured image from Shutterstock.
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Crypto Markets Experience Mixed Trading Session, Analysts Expect Ethereum and Litecoin to Drop in Near-Future
The crypto markets have continued to gradually drift lower following last Friday’s market surge. Most cryptocurrencies have dropped today, with Ethereum trading down marginally, and XRP dropping nearly 2% due to concerns regarding the newly announced JP Morgan crypto (JPM Coin) possibly being a competitor.
Many analysts now expect major cryptocurrencies, including Litecoin and Ethereum, to see increased selling pressure in the near-term as these cryptocurrencies fail to break above their respective resistance levels.
Ethereum and Litecoin May Soon See Further Losses
At the time of writing, Ethereum is trading down marginally at its current price of 2. Although ETH is apparently stable at this price level, analysts are quick to point out that the cryptocurrency is currently sitting at the bottom of its flag formation, which may signal that a drop is imminent.
Chonis Trading, a popular cryptocurrency analyst, pointed this out in a recent tweet, noting that ETH is currently on the “edge of breaking down.”
$ETH – flag on the edge of breaking down … pic.twitter.com/SUSw6GTkMb
— Chonis Trading (@BigChonis) February 15, 2019
Litecoin is also facing growing resistance that it is struggling to break through, but it has been able to climb slightly today to its current price of .40.
Chonis Trading also discussed LTC in a recent tweet, noting that its price is currently struggling to break above the top of a descending triangle pattern that it is currently trading in.
“$LTC – That feeling when you play the #litecoin resistance line breakout, and the line ends up holding on the 1hr chart…”
$LTC – That feeling when you play the #litecoin resistance line breakout, and the line ends up holding on the 1hr chart… pic.twitter.com/UDx3CFKbLN
— Chonis Trading (@BigChonis) February 15, 2019
Hsaka, another popular cryptocurrency analyst on Twitter, also shared his thoughts on Litecoin, and said that where its price heads in the near-term is likely dependent on how Bitcoin’s price ultimately responds to its extended period of sideways trading.
“$LTC Update: Covered… Tested resistance twice and finally broke past it… $BTC seems to have coiled up pretty tightly to make a move now, don’t want to get caught on the wrong side… Booking profits,” he explained.
$LTC Update
Covered.
Tested resistance twice and finally broke past it.$BTC seems to have coiled up pretty tightly to make a move now, don't want to get caught on the wrong side. Booking profits. pic.twitter.com/LQNdZULxay
— Hsaka (@HsakaTrades) February 15, 2019
Crypto Markets Experience Mixed Trading Session
The overall cryptocurrency markets are currently trading mixed, despite Bitcoin’s apparent stability at its current price levels of ,620.
At the time of writing, XRP is trading down nearly 2% at its current price of .30. XRP dropped slightly after news broke yesterday that JP Morgan would be releasing a cryptocurrency – aptly dubbed JPM Coin – that would operate in a similar fashion to Ripple’s XRP.
After dropping yesterday, TRON has climbed nearly 3% to its current price of .024.
Binance Coin (BNB) is one of today’s best performing cryptocurrencies, as it is currently trading up over 5% at .20. Yesterday, BNB dropped to lows of .50, which proved to be a level of strong support that helped spark today’s price surge.
Featured image from Shutterstock.
The post Crypto Markets Experience Mixed Trading Session, Analysts Expect Ethereum and Litecoin to Drop in Near-Future appeared first on NewsBTC.