Crypto Today: Bitcoin bulls run wild
Here's what you need to know on Tuesday
Markets
BTC/USD is currently trading at $8,780 (+7.80%) in the afternoon in U.S. hours, as the bulls break down $8500 barrier.
ETH/USD is currently trading at $164.65 (+14.15%), bulls smash through supply area at $150 mark.
XRP/USD is currently trading at $0.2350 (+11.60%), momentum to the upside as price breaks down resistance barrier at $0.2180.
Among the 100 most important cryptocurrencies, the best of the day are BST $1.61(+46.60%), BSV $237.02 (+45.49%) and XZC $4.76 (+30.97%) and The day's losers are NEXO $1.72 (-2.90%), REN $0.401198 (-1.70%) and SEELE $0.137465 (-4.60%).
Chart of the day: BTC/USD daily chart
Market
A strong Bitcoin (BTC) futures options debut reported from CME Group seeing volumes in excess of $2.3 million on the product’s first day of public trading, the company has confirmed. Data from CME’s official website confirmed the successful rollout on Jan. 13, which began as scheduled and ultimately saw 55 contracts change hands.
Ethereum deposits and withdrawals have been resumed at Upbit. The top South Korea-based cryptocurrency exchange lost $51 million worth of Ethereum (ETH) to hackers last year.
Tron founder, Justin Sun, announced on January 12 on Twitter the launch of a secret project that would bring multibillion benefits for $ BTT & $ TRX ecosystem. According to suggested forecasts, the project could attract more than 100 million new users.
An Ethereum Classic (ETC) development organization is warning the public against a possible scam that is attempting to exploit users the day after the altcoin completed its hard fork. In a tweet posted by the ETC Cooperative on Jan. 13, they ousted an alleged scam calling itself “EAgharta” in resonance with ETC’s bona fide “Agharta” hard fork, tweeting: “Needless to say, ‘EAgharta’ is a complete scam, probably from the same people who did something very similar at Atlantis. Stay away. ETC Agharta did not result in new ‘Agharta coins.’ They are just trying to scam you.”
Regulation
Reports suggest that India’s Supreme Court is finally ready to tackle the RBI vs. Crypto case, with plans to dedicate a lot of time to both sides. Originally, the hearing was supposed to take place back in mid-October 2019, but the court delayed it until November. However, due to the busy schedule of RBI’s senior counsel, the hearing was postponed once again until today, January 14th, 2020.
Industry
Cryptocurrency analytics firm CipherTrace has launched “Defenders League,” a program designed to provide students with the training and tools necessary to investigate crypto-related scams.
The Securities and Exchange Commission is once again requesting that Telegram provide bank records on its Gram initial coin offering (ICO). The timing of the request, filed on Jan. 10, coincides with new evidence of alleged underwriters requesting commission fees for the sale of Telegram tokens.
Quote of the day
Important message as we enter the next Bitcoin bull market:
- BTC is very volatile
- You can lose all of your money
- Only invest what is ok to lose
- Twitter is not investment advice
- Don't buy BTC with credit cards
- Keep low time preference
- Do your own research
Anthony Pompliano
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
