🗞 Daily Crypto News, September, 16th💰

Bitcoin Price Indicator May Signal Next Leg Higher ;
Binance CEO: Bitcoin Futures Platform ‘SAFU’ After Attack False Alarm ;
Bitcoin Mining Power Hits New High as Half a Million New ASICs Go Online ;
What Bitcoin’s Valuation Says About Its Volatility ;
OKEx Delisting Monero, Dash, Privacy-Cryptos Over FATF Demands ;
📑 Daily Crypto Calendar, September, 16th💰
STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Bitcoin Price Indicator May Signal Next Leg Higher

History looks to be repeating itself in the bitcoin market, as a key indicator’s bullish turn could mark the beginning of the next meteoric price rally.

The world’s most valuable cryptocurrency’s price action seen over the last eight months is very similar to the moves seen in 2015, according to Bitstamp data. For instance, the bitcoin bear market ended near $3,100 in mid-December 2018 and prices built a base below $4,000 in the following three months before breaking into a bull market on April 2.

Notably, the bear market drop ran out of steam two months before the 50- and 10-week moving averages confirmed a bearish crossover (in February 2019).

Weekly chart

🗞 Binance CEO: Bitcoin Futures Platform ‘SAFU’ After Attack False Alarm

The CEO of cryptocurrency exchange Binance has dispelled fears a bad actor had attacked its newly-launched Bitcoin futures platform.

Technical error crashed Bitcoin price

In a series of tweets on Sept. 16, Changpeng Zhao, also known as CZ, initially warned that the exchange’s futures were under attack from one of its own market makers.

The perpetrator allegedly crashed the BTC/USD order book from $10,324 to $10,024, in what Zhao said was the second such attempt at an attack.

Binance launched its futures platform in invite-only mode following a user testing period earlier this month. Two platforms were originally available, with users voting for their preferred choice.

🗞 Bitcoin Mining Power Hits New High as Half a Million New ASICs Go Online

The computing power dedicated to mining bitcoin has hit yet another new high, suggesting that more than 600,000 powerful new machines may have come online in the last three months.

According to data from crypto mining pool BTC.com, bitcoin’s two-week average hash rate has crossed another major threshold, reaching 85 exahashes per second (EH/s) around 19:00 UTC last Friday. Meanwhile, mining difficulty also adjusted to a new record of nearly 12 trillion.

Notably, both figures have jumped 60 percent since June 14, the data shows.

Bitcoin’s mining difficulty – a measure of how hard it is to create a block of transactions – adjusts after 2,016 blocks, or roughly every two weeks. This is to ensure the time to produce a block remains around 10 minutes, even as the amount of hashing power, deployed by machines around the globe competing to win freshly minted bitcoins, fluctuates.

🗞 What Bitcoin’s Valuation Says About Its Volatility

Most of us think we understand the term “volatility.”

We digest headlines about tense political situations around the world; we are wary of explosive chemical compounds; some of us have had relationships with their fair share of ups and downs.

“Volatility” implies sharp and unpredictable changes, and usually has negative connotations. Even when it comes to financial markets, we intuitively shy away from investments that would produce wild swings in our wealth.

But volatility, in finance, is usually misunderstood. Even the most commonly accepted calculation is often incorrectly applied.

🗞 OKEx Delisting Monero, Dash, Privacy-Cryptos Over FATF Demands

The South Korean arm of cryptocurrency exchange OKEx is removing support for five major altcoins due to new international regulations.

FATF rules halt privacy coins trading

According to crypto news outlet The Block on Sept. 16, OKEx’s Korea unit will halt trading of Monero (XMR), Dash (DASH), Zcash (ZEC), Horizen (ZEN) and Super Bitcoin (SBTC) on Oct. 10.

The reason, says the exchange, is that as since they are focused on privacy, the coins fall foul of new guidelines set out by the intergovernmental body the Financial Action Task Force, or FATF.

As Cointelegraph reported, the sweeping changes to crypto transaction rules demand businesses to identify the two parties sending funds to each other if a transaction is worth more than around $1,000.

📑 Daily Crypto Calendar, September, 16th💰

Equal (EQL)

"Equal will be burning 12 million EQL in the fourth phase of the burn cycle."

Tael (WABI)

Kick-off of elaborate 'Tael Insider' newsletter marketing campaign designed to inform project followers of latest developments & ecosystem.

Decentraland (MANA)

Decentraland SDK Hackathon from September 16-30.

Dash (DASH)

"Dash is launching on @CoinbasePro on Monday Sept 16 at 10am PST"

Arionum (ARO)

"I would like to inform you regarding the upcoming hard fork. I have decided to implement it on block 216000 (approx 16th of sept)."

STEEM Trading Update by my friend @cryptopassion

Here is the chart of yersterday :

Here is the current chart :

Today, we continued the bounce started yesterday. We have higher lows so the trend is not broken, even we have a low volatility. I think most of altcoins are also waiting to see the direction that the BTC will take and this is why most of coins are very quiet these last hours. However, there is nothing negative for the STEEM today, exactly like yesterday, se we can again enjoy about these positive news.

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