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Altcoin News

New Sunday Movement Sees Bitcoin At $7,500, Other Altcoins Follow

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The crypto market is apparently in the green at the end of this week, continuing the upswing. While the top ten altcoins are all moving up this Sunday, Bitcoin is leading the market, hovering near yesterday’s levels.

Currently, the price of Bitcoin is $7,426 at press time – which is just 1% up for the day. The price of Ethereum has also seen some significant growth over the past 24 hours and is up 5% and trading at $466 at press time. Ethereum is holding gains of 8% for the week, after peaking at over $500 four days ago.

The total market capitalization of all cryptocurrencies is around $282 and $283 billion, hovering all the time and going up between 1% and 2% over the past 24 hours. The total market cap is also down from the week’s peak of almost $300 billion.

Stellar and IOTA are also up the most of the day, seeing over 7% and almost 5% growth respectively. Other than the stable coin Tether, Cardano is also seeing a 24-hour growth and is up only 1.53%. However, Cardano (ADA) is seeing one of the most surprising growths during the week – rising by more than 23% in a single week.

Yesterday, the Chicago Mercantile Exchange (CME) reported that the Bitcoin futures daily volume increased by 93% in the Q2 over Q1 2018 – which definitely moved the market up a bit.

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Altcoin News

Bitcoin Cash (BCH) Activates A Hard Fork, Splintering Into (At Least) Two Competing Versions

In today's cryptocurrency news, we have the altcoin Bitcoin Cash (BCH) in the focus because of its recent fork which split the fourth largest cryptocurrency by market cap into at least two competing versions. The versions are called after their primary software clients, Bitcoin ABC (BCHABC) and Bitcoin SV (BCHSV). What started as a network upgrade after 18:00 UTC today continued with the BCHABC and BCHSV chains being diverged at block 556767. According to the BCHABC rules, bitcoin.com mined the first two blocks, both of which SV nodes marked as invalid, while BCHSV had to mine its first divergent block after that. As the hard fork proceeded, BCHABC maintained a significant edge according to its economic and community support metrics. BCHSV, on the other hand, whose primary backers are Craig S. Wright and Calvin Ayre, amassed the dominant hash rate which controls about 75% of all BCH mining power in the minutes before the fork. The 'war' between the two newly forked coins has just started and SV supporters openly declared that they will use the superior hash power to attack BCHABC, mining empty blocks and reorganizing its blockchain until the supporters capitulate and the economic majority moves to SV. Stay tuned for more news about the hard fork - and to see how everything will play out for BCHSV and BCHABC!
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Altcoin News

5% Of Moscow Residents Who Use Non-Cash Methods Are Open To Using Cryptocurrencies

A new poll went viral in the latest cryptocurrency news, this time carried out in Moscow, the capital of Russia. As Forbes Russia first reported on November 13th, more than five percent of all residents of Moscow that use non-cash payment methods are open to exploring the use of cryptocurrencies such as Bitcoin. Carried out by the Russian payment service Yandex.Money as well as the Moscow Information Technology Department (ITD), the poll surveyed more than 1,000 Moscow residents of various age categories over the phone. The researchers found that among the residents who use non-cash methods, 5% are willing to start using cryptocurrency to pay for their purchases - while 1% already use digital currencies. Among the most common forms of non-cash payments in Russia are bank cards (96%) followed by mobile bank apps (40%), Internet banking (32%) and e-money (16%). The head of the analytics department at ITD, Ivan Buturlin, recently stated that “34 percent of Moscow residents use primarily non-cash methods of payment, wherein 63 percent conduct electronic transactions at least once a day.” When asked why they refrain from using cashless payment systems, about 40% of the respondents pointed to security concerns, 22% of them said they don't want to pay extra fees and 11% said they did not understand how to use the non-cash payment services, while 9% said that they don't know what cashless payment methods are. As the CEO of Yandex.Money summed up following the publish of the results of this survey:
“In order for non-cash payments to penetrate into the lives of a larger number of citizens, people should also change their perception to understand that this is a safe method of payment.”
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Altcoin News

Crypto Market Capitalization Has Fallen To A New 2018 Low

The latest news on our DC Forecasts crypto news site clearly show d0wnward movements for both Bitcoin and many altcoins in the market. The prices of major cryptocurrencies have dropped significantly. Currently, Bitcoin is trading at around $5,639 falling by more than 12% on the day and showing big signs of volatility as a leader in terms of market capitalization. Speaking of which, the market cap behind Bitcoin dropped below the $100 billion level for the first time since November 12th last year. In the past 12 hours, the total market capitalization fell from $210 billion to the current $180 billion, depreciating by 15% and leading the market to the lowest value since October 31st of last year. There are many other major cryptocurrencies that are reporting declines in excess of 10% on the day. Some of them are Ethereum, Ripple (XRP) and Bitcoin Cash - the latter of which holds the record for its continuous decline over the past week. What's also important to note is the fact that Ripple (XRP) is now the second largest cryptocurrency by market cap - overcoming Ethereum (ETH) overnight. No one knows if the situation will continue like this. Analysts believe that if a quick bullish run initiates, everyone might be able to 'forget' this sad Thursday for crypto. However, an action like that would force Bitcoin to immediately gain control over $6,000 and altcoins to follow, which is beyond impossible at this moment.
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Altcoin News

Crypto Market Suffers From A New $26 Billion Wipeout

In the latest cryptocurrency news, we have a new wipeout that has the crypto market suffering - and being one of the most intense daily sell-offs in all of 2018, where the market lost more than $26 billion in one single day. The price of Bitcoin, which demonstrated a high level of stability over the past 3 months, recorded a 11% drop within 12 hours, which was a decline that brought down many other altcoins and digital assets, triggering downward movements in the entire market. One of them was Bitcoin Cash (BCH) which suffered most yesterday, falling by more than 19% and losing about a fifth of its value. Over the past week, this altcoin has managed to drop by over 50% and lose half of its value against the US dollar and 40% of its value against BTC. The intensity of yesterday's selloff reached a point in which Bitcoin saw its trading volume doubling from $4 billion to $8.1 billion. Even though the volume rarely surpassed the $4 billion margin over the past few months, it now demonstrated a high trading activity because of the selloff. One respected crypto trader and analyst going by the handle DonAlt commented on the latest drop, stating: https://twitter.com/CryptoDonAlt/status/1062687627340587008 The price trend of Bitcoin has played out similarly to the trend that DonAlt laid out and small market cryptocurrencies managed to suffer against both Bitcoin and the US dollar. Throughout the first two quarters of 2018, however, tokens and small market cap assets recorded losses from 40% to 80% against Bitcoin. The recent losses of 15% to 20% managed to bring their total yearly losses to around 95% percent. Bitcoin is now trading at $5,645 - and analysts believe that a quick rally to $6,000 could recover it from this situation.
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