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Crypto Space Over The Past Week From 9 To 15 Of April, 2018


At the end of the week, we resume everything that the crypto community talked about over the past seven days. This week Samsung releases ASIC chips for Halong Mining startup, the Bittrex exchange has started over again accepting new users, in Moscow have presented a response on the bill "About Digital Financial Assets".

Bitcoin Predictions

Dan Morehead, the founder and CEO of Pantera Capital, called the price at $ 6,500 a possible minimum for bitcoin in the current "bear market." According to him there are great chances that bitcoin will reach new all-time high and within a year will surpass the level of $ 20,000.

Max Kaiser, journalist and economic activist, as well as bitcoin pioneer, as early as 2011 stated that the bitcoin rate could reach $ 100,000 (but, when it will, he did not specify). According to him, George Soros pump can push him to this level, who recently announced his readiness to invest in the first cryptocurrency.

Other known bitcoin enthusiast, Tim Draper, considers that in four years bitcoin price will reach $250 000. In the past, Draper has not mistaken in his predictions. So, he predicted that by 2017 bitcoin will reach $ 10,000, and did so in 2014, when the price traded around $ 300.

Abra CEO Bill Barhydt, in a recent interview expressed his opinion about the cryptocurrency regulation of 2017. He believes that the price went up because the Japanese government opened the door to institutional investors, who in turn supported the trend. He added that in the West, by and large, there is no institutional money in the cryptocurrencies, and it is not clear when they will appear.

Mining and tech

It became known that Samsung produces ASIC-chips for the startup Halong Mining, which specializes in the production of miners. At least such information was spread by one of the companies that sell equipment. Halong Mining Company releases DragonMint T1 - while the most effective miner in the market, which by performance surpasses even Antimer S9 from Bitmain.

Bitfury Company Deputy Chairman, Georgy Kikvadze, announced the purchasing of a 49% stake in Hut 8, a Canadian company that controls 35 bitcoin farms in North America. According to him, this will attract capital, then to build the world's largest mining farms.

22 countries, including Great Britain, France, Germany, Norway, Spain and the Netherlands, signed a declaration of intent to create a European Blockchain Partnership on April, 11. The goal of the cooperation is the refusal of a "disconnected approach" to the blockchain technology. In order to reach a new level of efficiency, the participating countries intend to share their knowledge and experience in the technology and regulation, and to promote the dissemination of blockchain apps in the single digital EU market.

Lead developer of anonymous cryptocurrency Monero Riccardo "fluffypony" Spagny confirmed that anonimous cryptocurrency will receive support from the Ledger in the near future. The announcement released a week after Monero implemented a hardfork, trying to protect its network from ASIC-miners.

Cryptocurrency Exchanges

The Bittrex cryptocurrency exchange registers new users on the updated website again "with the improved safety". The registration suspended in December due to a large influx of volunteers, and new clients.

OKEx exchange has announced the opening of office in Malta. OKEx is the second largest digital exchange in the world. It already has offices in Belize and Hong Kong. OKEx has chosen Malta, as this island state strives to become an attractive jurisdiction for cryptocurrency companies. Recently, Binance, another major cryptocurrency exchange, received approval from the government of Malta. The history of Binance impresses with its rapid success. Changpeng Zhao, CEO of the exchange, was able to lead Binance in the second quarter of its existence to a profit of $ 200 million, while becoming one of the richest people on the planet with a fortune of $ 2 billion, but at the same time faced some difficulties and pressure from regulators.

Gemini cryptocurrency exchange, owned by the twins Winklewoss, has introduced the Gemini Block Trading service, which allows investors to make major transactions bypassing the stock exchange order book. It will give traders the opportunity to buy or sell large amounts of bitcoins and other cryptocurrencies, competing with companies that serve large institutional traders.

The largest in South Korea cryptocurrency exchange Bithumb reported that in 2017, its profits increased 171 times. According to a report published on the website of the country's financial regulator, last year net profit of Bithumb was 427.1 billion won (about $ 399.7 million). A similar indicator for 2016 amounted to 2.5 billion won (about $ 2.3 million).

WEX exchange has paid 20% of the total amount of debt obligations of the BTC-E, which arrested in the summer of 2017. Then WEX bought accounts of customers together with the website. Now WEX is one of the popular cryptocurrency exchanges. The number of users has increased more than 200 thousands.

On April 12, a large Japanese exchange, BitFlyer, has announced that it would revise the user verification procedure after the existing KYC system has severely criticized. The company announced that since April 26, users who register online would not be able to send cryptocurrency or withdraw Japanese yen until they receive a letter from the exchange, which states that their personalities and addresses have confirmed.

The Japanese Financial Services Agency (FSA) first issued a report containing statistics on the country's cryptocurrency trading. According to data collected on 17 exchanges, as of March 31 this year in Japan, at least 3.5 million people are engaged in cryptocurrency trading. In this group, the majority are people aged 20 to 30 (28%), 30 to 40 (34%) and over 40 (22%). The FSA report also reports that by the end of March there were 142,842 investors in the country's currency and futures contracts.