Yuri Molchan

EOS Platform Vulnerabilities Detected by 360, Chinese Internet Security Giant

Chinese IT-company has spotted serious breaches in the EOS network
EOS Platform Vulnerabilities Detected by 360, Chinese Internet Security Giant

The engineers of 360 wrote on the popular Chinese social media Weibo that through some of those vulnerabilities it is possible to remotely execute an arbitrary code on any EOS node.

In other words, through remote attacks, it is possible to gain control over the whole EOS system.

360 already informed EOS management. Taking into account that there are just a couple of days to go before the mainnet launch, this could seriously change the platform’s plans.

However, according to the company officials, the EOS mainnet will not be switched on until these problems are eliminated.

Dangerous Blockchain breaches

The presence of security breaches in virtual currencies can have a worse impact than when it comes to ordinary software. On a fully decentralized platform like EOS, a vulnerability attacked in one node can influence the whole network through the interconnected nodes so that thousands of computers will be attacked.

Hackers responsible for those attacks can send a smart contract infected with a virus across the whole platform.

Various other negative consequences can follow unless these issues are fixed as quickly as possible.

CryptoComes has contacted the EOS officials and asked them to clarify the situation and how they are proceeding with solving the unexpected problem.

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If This is the Bottom For Bitcoin, What Will Its Bounce Back Look Like?

If Bitcoin has reached its bottom, what will the bounce back look like? Are we in for another rollercoaster ride to new heights?
If This is the Bottom For Bitcoin, What Will Its Bounce Back Look Like?

There is no doubt that Bitcoin has found itself stagnating in terms of price in and around the $6,000 to $7,000 mark. Many have called this a bear market and one that is holding the price down, with many predicting that its bottom has been found.

But, if the bottom has been found, and, as they say, the only way is up, what will Bitcoin’s bounce back up in terms of price and market look like? The cryptocurrency has only been around for less than a decade, so it is hard to predict its movements, but some are already seeing the future.

Vitalik Buterin does not believe that there will be any more 1,000 percent growth spurts in the future of Bitcoin and other cryptocurrencies. However, the likes of Mike Novogratz feel that $6,000 is a classic bottom and the institutionalized money will drive it further.

Is this the bottom?

In terms of finding the bottom, it is an important exercise for traders, as it suggests that there will be no further losses from there. Novogratz, a former hedge fund manager at Fortress Investment Group and Goldman Sachs Group partner, believes $6,000 is it.

“Bitcoin has held $6,000. Yes, it is off its highs, but it has established itself as a store of value,” Novogratz said. He explained as well that the drop from those heights came as Bitcoin experienced a “classic speculative global mania” in 2016-2017 but is now on the upswing because the market has hit “seller fatigue.”

But if this is the bottom, what does the upswing look like? Bitcoin gained much of its traction by breaking records and molds with its climb to $20,000, but is that likely to be seen again?

Banks will experience “FOMO,” on the crypto trend, Novogratz added. “I think institutions are moving towards investing. It’s shocking how much has happened.”

No more exponential growth

Buterin has said that even with this institutionalized money waiting to enter the market, it is unlikely that the world will see such massive growth again as the excitement about the new and unknown cryptocurrency is over.

“The Blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of Blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore,” Buterin said.

However, Ethereum co-founder Joseph Lubin has said he disagrees with Buterin and that there is still plenty of people and entities that will enter the crypto space and help prop it up.

Countries along with the biggest corporations around the globe are already utilizing this nascent technology, so it will have an enormous impact on how whole economic and political systems are built was Lubin’s point.

Look at the graphs

One thing that may give insight into how the cryptocurrency market will grow is its previous rallies and falls. There have been many times where Bitcoin has grown by a staggering amount only to correct again and slowly build up to be bigger and stronger.

This latest rally to $20,000 may just be a precursor of things to come and a similar spike, and fall, but a much higher price could be on the horizon. Or, as Buterin suggests, the ceiling has been reached and the growth will be steady, a bit like after the Dot Com bubble burst.

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A Fake Email from China’s Central Bank

A fake email from China’s Central Bank regarding Blockchain, cryptocurrency and mining regulations has been sent out to major media outlets.
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Bitcoin, Litecoin, Monero, NEO Prepare For Significant Moves as Bears Try Holding Prices Down

Pricewise
Cryptocurrencies are consolidating as significant fluctuations expected
Bitcoin, Litecoin, Monero, NEO Prepare For Significant Moves as Bears Try Holding Prices Down

The situation remains unchanged since our last review as the currency pairs’ volatility is low. BTC/USD, LTC/USD, XMR/USD, NEO/USD restored yesterday but failed to develop their progress as bears still make attempts to hold the price and to push it down.

BTC/USDD:\Пробы пера\sergeytn\reviews\15.05\btc hourly.jpgBitcoin demonstrated no significant fluctuations during the late American and Asian session. The currency pair jumped above the local ascending trend line within the American session and tested it later. Here lies the support area at $8,695 which also holds BTC/USD from declining below.

Bitcoin reached the resistance area at $8,890 during the late US-Asian session. However, the Bitcoin price retreated sharply meaning bulls have not enough power to develop their progress.

The currency pair is higher the Ichimoku cloud meaning bulls have the initiative in the moment of writing this review. There are no candlestick signals currently and it is better to wait for them in order to take further actions.

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Possible scenarios for BTC/USD are the following:

  1. Bitcoin will try to jump off the ascending trend line and the support area at 8,695 targeting the next resistance area 8,890, which the cryptocurrency reached during the late American session. There may be another test.

  2. BTC/USD will cross the support area at 8,695 and fall towards the higher border of the Ichimoku cloud. The next target, in this case, will be the support area at 8,528. However, the Ichimoku cloud may be an obstacle on the way.

  3. The next scenario is neutral meaning there will be no significant fluctuations. And BTC price will stay close to current levels or move along the local ascending trend line without leaving it.

D:\Пробы пера\sergeytn\reviews\15.05\btc daily.jpgBTC/USD still remains inside the Ichimoku cloud and goes towards the upper border of the formation. It seems like the situation is going to change in the nearest future. If Bitcoin leaves the Ichimoku cloud from above, there may be a sharp upside momentum.

LTC/USDD:\Пробы пера\sergeytn\reviews\15.05\ltc hourly.jpgLitecoin went above the ascending shorterm trend line during the late American-Asian session but failed to develop its progress. LTC price almost reached the resistance area at 153 level but then we have seen a Shooting Star reverse candlestick pattern. Litecoin returned to 146 support area where it fluctuated until the moment of writing this review.

Litecoin price is above the Ichimoku cloud meaning bulls have initiative currently. There is no candlestick pattern at the moment.

Possible scenarios for LTC/USD are the following:

  1. LTC price will target the resistance area at 153 and reach it. Then, LTC/USD will test it and further progress will depend on the results of those actions.

  2. Litecoin will jump off the resistance area at 146 (where it fluctuates currently) and fall towards the support area at 138. However, there is the Ichimoku cloud on the way, which may prevent bears from pushing LTC/USD lower.

  3. LTC price remains close to the current levels or move slowly around the local ascending trend line.

D:\Пробы пера\sergeytn\reviews\15.05\ltc daily.jpgAs for the daily chart, the situation is the same as yesterday. Litecoin price remains within the Ichimoku cloud. But it jumped off the lower side of the formation meaning there are chances for bulls to drive it towards the upper border of the Ichimoku could at least.

XMR/USDD:\Пробы пера\sergeytn\reviews\15.05\xmr hourly.jpgMonero had lower liquidity during the Asian session demonstrating several price gaps. The currency pair moved above the local ascending trend line during the American session, but then fell below it and even managed to cross the support area at 214. However, bears were unable to change the situation significantly as XMR price jumped off the midterm descending trendline (paint in green on the screenshot).

Later the Asian session XMR/USD managed to jump over the support area at 214. There are no candlestick signals currently.

Card

Possible scenarios for Monero are the following:

  1. XMR/USD will move towards the next resistance area at 219 and test this level.

  2. Monero will cross the current support area at 214 and fall below it targeting the midterm descending trend line (green). The next aim may also be at the next support area (204).

  3. The currency pair will stay close to the current levels with no significant fluctuations.

D:\Пробы пера\sergeytn\reviews\15.05\xmr daily.jpgThe currency pair jumped off the lower border of the Ichimoku cloud on the daily chart meaning bulls may have chances to change the situation in the nearest future.

NEO/USDD:\Пробы пера\sergeytn\reviews\15.05\neo hourly.jpgThe currency pair have tested the local ascending trend line from below but failed to jump over it. The test of the resistance area at 68 was also unsuccessful. NEO jumped off those lines and even tried to penetrate the Ichimoku cloud.

NEO/USD went above the descending midterm trend line during the Asian session. The current pair stays above it at the moment. There are no candlestick patterns in the moment of writing.

The possible scenarios for the currency pair are the following:

  1. NEO/USD will reject the descending midterm trend line (green) and move towards the closest resistance area at 68. The currency pair will test it and if succeeded, will be able to develop its progress above the level.

  2. NEO price will fall below the trend line and enter the Ichimoku cloud. The next support area is 62 level.

  3. NEO/USD will stay close to the current level without significant fluctuations during the day.

D:\Пробы пера\sergeytn\reviews\15.05\neo daily.jpgAS for the daily chart, NEO/USD jumped off the lower border of the Ichimoku cloud meaning bulls have perspectives to change the situation in the nearest future.

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BCH Ticker Still Active? Is It Still a Living Coin?

Bitcoin Cash came to an end on Nov. 15 when it split into Bitcoin Cash ABC and Bitcoin Cash SV
BCH Ticker Still Active? Is It Still a Living Coin?

Bitcoin Cash came to an end on Nov. 15 when it split into Bitcoin Cash ABC and Bitcoin Cash SV, yet CoinMarketCap still shows BCH as the fourth largest cryptocurrency by market cap. The reason for this is that some exchanges have declared Bitcoin Cash ABC the “winner” of the fork battle and are now listing it under the ticker BCH.

In a recent statement, Huobi (the third largest exchange by volume) announced: “Bitcoin Cash ABC to Be Re-Designated BCH and Trading Announcement of Bitcoin SV (BSV). Huobi Global has confirmed that the ABC version of Bitcoin Cash (BCH) will be retained for the designation of BCH.”

A similar decision has been made by other major exchanges such as Kraken, Bitstamp, and Coinbase, so we will probably keep seeing the BCH ticker on CoinMarketCap, but its price will be soon adjusted.

Charts at a Glance – BCHABC/USDT

charts at a glance

Early in its “lifetime” BCHABC established support at 230, which at the time was its lowest price against Tether. Now that low has been broken, the pair returned above the level almost immediately, confirmed support, and seems to be preparing for a bounce higher.

The dip below 230 took the Relative Strength Index below its 30 level, marking oversold conditions and thus increasing the chances of a bullish move that will have 250 as immediate target. This is not so much a technical level but rather a psychological one; the same is true for all full levels (numbers such as 250, 300, 350). However, keep in mind that the BCH market is very young, not fully developed and ranging from a few day’s perspective.

Support zone: 230

Resistance zone: 250 followed by 298 - 300

Most likely scenario: bounce higher, but choppy overall

Alternate scenario: new break of 230 and move into 200 area

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Cryptocurrency Margin Trading - Explanation for Beginners

💡 Cryptotips
The article runs about all the peculiarities of margin trading which may be useful for inexperienced traders
Cryptocurrency Margin Trading - Explanation for Beginners

What is Margin Trading? 


Margin trading, to put it simply, is the practice of taking loans from a broker in order to buy more than you can afford. Before looking into the peculiarities of cryptocurrency margin trading, let us consider one simple example. A person, who wants to buy a $200,000 apartment with only $20,000 on hands, will have to go to a bank and apply for a loan (a leverage). After performing the customer due diligence, the bank may approve his mortgage and give money for investment. If the price of apartment goes up, this individual will significantly profit off his small initial investment. 
 

Bitcoin Margin Trading 


Bitcoin margin trading is, in fact, very similar to getting a mortgage, but here you deal with crypto instead of real estate. You open a position with leverage and pump up your buying power by taking loan from a broker on one of the cryptocurrency exchanges that allows margin trading.
 

NB! The money lent to a trader come from an operating account, so customer funds are not used by a broker. However, some exchanges allow borrowing directly from other users. 

Then you can invest your leveraged funds in any available cryptocurrency that, as you believe, has the potential to significantly increase its value. For example, you can buy 100$ worth of Bitcoin Cash (BCH) with only 20$ of your own money (if the leverage ratio is 1:5). If the price of BTC remains the same, you break even, but any BCH price spike will result in profit (that would be significantly lower if you weren’t trading with leverage).       
 

Leverage Ratio 


The sum of money that an investor is able to borrow from the exchange is determined by the leverage. Leverage amount is presented as ratio (1:2, 1:3 and son on). Traditional traders are conducted with 1:1 leverage.    

Compared to Forex trading, cryptocurrency exchanges have a rather low amount of leverage due to the fact that this market is still highly volatile. Cryptocurrency traders will not find any brokers that are willing to lend out funds on a mammoth scale with 1:500 leverage or higher.    
 

Margin Trading Risks 


Before engaging in margin trading with cryptocurrencies, you have to remember that it comes with significant interest rates and fees. Inexperienced investors may be tempered to take advantage of market volatility and gain huge profits, but there is always a huge risk if you choose to trade with leverage.

  1. Equity threshold. In order to engage in margin trading with Bitcoin, your equity level has to be above a specific threshold (for the majority of exchanges it is about 30 percent). If your account’s equity falls below this threshold, you won’t be allow to open a position unless you make an additional deposit.
  2. High interest rates. Crypto exchanges profit from Bitcoin margin trading (US) by setting interest rates which are quite high (especially, for long-term investments). Consequently, if the predicted price jump doesn’t happen anytime soon, it is better to close a position, since the constantly increasing interest rate may soon diminish your profit. Therefore, trading with leverage is a good option if you want to take advantage of an ongoing bullish trends, but it is a no-go zone for beginners who want to capitalize on long-term investments.  
  3. Huge losses. As mentioned above, the instability and sensitivity of crypto market won’t let broker implement a higher amount of leverage. Even opening a position with, say, 1:5 leverage may lead to huge profits if stars align. However, you may lose everything as well. Apart of sending a  'goodbye kiss' to your initial investments, an investor may find himself in a situation when he will have to give back the borrowed money and pay back the interest rate.


As you can see, before diving into the wilds of Bitcoin margin trading (USA), you have to minimize your risks to almost non-existent. It can be a powerful tool for cryptocurrency investors, but make sure that you won’t sink below a break-even point, and you initial investment will cover trading fees and the interest rate.
 

Forced Liquidation 

  
Once we’ve covered the risks, it is also to introduce the notion of forced liquidation. Forced liquidation presupposed that all you margin positions get closed to make sure that you won’t default on your borrowed funds. It is vital to regularly check your positions and reduce their size to prevent substantial losses and consequent forced liquidation.       
 

Best Margin Trading Exchange  


A large number of cryptocurrency exchanges (Bitfinex, Kraken and so on) offer their users a possibility of trading with leverage. No matter what exchange you choose, the process of opening a margin position generally remains the same. However, there may be significant differences when it comes to fees, the initial equity and the amount of leverage and available assets, so it’s completely up to you to choose the best margin trading cryptocurrency exchange. 

To show you how margin trading works, let’s have a look at a Hong Kong-based exchange Bitfinex that allows opening positions with up to 1:3.33 leverage. The short guide, which presented below, will show you how to use this Bitcoin exchange for margin trading with both long and short positions.     

  1. After creating an account and depositing funds, you have to choose the ‘Trading’ section and select a desired trading pair. 

    image
     
  2. Then go to the ‘Margin’ section and place an order specifying the amount of your investment, leverage ratio and order type. 

    image
     
  3. Click the ‘Margin Sell’ button in order to finish your order and open a position. 

    image
     
  4. Your position can be closed at any time by using the corresponding button. Borrowed money will be automatically repaid to your broker while gains/losses will be credited to your margin wallet.  

Here’s a table which lists popular exchanges with margin trading along with the maximum amount of leverage that they can offer. 
 

Crypto Exchange 

Maximum Leverage  

BitMEX

1:100 (BTC)  

1:50 (ETH)

1:20 (XRP)   

Bitfinex

1:3,33

Huobi

1:5

Poloniex

1:2,5

 

1:5 (BTC and ETH)

Cryptotips
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