Crypto News, Analysis, Forecasts, ICO, and Events for the week ending 11/16
Crypto News & Analysis
Bitmain co-founder Jihan Wu has moved away from Bitmain's director's chair. It has been reported that Mr Wu has been dropped to the position of supervisor and no longer has the power to manage Bitmain's daily affairs. An anonymous source from Bitmain revealed the functions and details of Mr Wu's new role in the company. The source describes the demotion of Mr. Wu as follows,
After the change to a supervisor, there are no voting rights, so Mr Wus's authority is less [he] they can not be involved in making business decisions.
The 21st Money Group closely monitors the events surrounding Bitmain. It seems that many bad decisions have been made at executive level. Errors that could lead Bitmain shareholders to lose significant earnings from an initial public offer from the company. Unfortunately for the company's shareholders, Bitmain may no longer boast that it controls more than 50% of Bitcoin's shares hash-rate.
One of the key issues that prevented the sale of IPO was the creation of a competitor, Bitewei. Bitewei has the ability to build a mining specialist ASIC that is cheaper and more efficient than Bitmain, Whatsminer M10. This new art mining technology can use 7nm technology on their machines (ASIC). Bitewei was founded by Yang Zuoxing, former design director at Bitmain. Bitmain, led by Mr Wu, has been unable to keep Mr. Zuoxing as a satisfied employee at Bitmain. Thus, the genius of computer design took his skills and formed his own company Bitewei a few days before the proposed IPO sale.
Bitmain has announced that they can produce a miner who uses 7nm technology but is not yet available for sale, and Whatsminer M10 is.
When quarterly reports generated during the third quarter of the financial calendar are segregated by potential investors, they may not provide or support the Bitmain revenue growth signals they need to pull a $ 2 billion public bid.
Bad management at the top of the company can be seen as a cause of uncertainty surrounding Bitmain's future. The perfect storm that kneads inside Bitmain can almost be compared to the Titanic that goes absolutely speed in front of this fatal obsolete iceberg. Only this time the fellow officers might have been wise enough to relieve the captain of his duty and slow down the ship before being thrown to the iceberg. Can the new Bitmain crew bring the company back to its old glory? Can the IPO be stored? Will today's shareholders continue to make the fortune at the table just a few weeks ago? It's a waiting game now as the players involved, Canaan, Ebang, Bitewei and Bitmain, riders for the position of the first ASIC Miner manufacturer. The 21st Money Group will keep you up to date as Bitmain tries to rescue their business.
Forex News & Analysis
Bitcoin was virtually lost this week. The encryption price dropped at the previous lower resistance level, close to $ 6,200, and appears to have settled at a level close to $ 5,500. The US Dollar gained value against Bitcoin this week. The USD started the Bitcoin weekly pairing with a $ 6446/1 Bitcoin exchange rate. The pair ended the weekly exchange at $ 5548/1 Bitcoin. The dollar recorded a 16.19% increase when combined with Bitcoin by the end of the week.
The USD (.DXY) index compares the USD with 6 world sovereign currencies. The US dollar lost marginal land compared to its global counterparts towards the end of the week. The .DXY index recorded a record high of 97 for the year at the beginning of the week. The index closed at 96.43, marking a loss of 0.591% by the end of the week.
The GBP has lost ground against the US dollar since last week. The dollar closed week by swapping the GBP at $ 1.2837, gaining 1.075% from last week's $ 1.2975 / GBP 1 level. Mexican Pesos (MXN) lost weekly marginally higher value than the GBP, swapping GBP at 25.8743 Pesos / 1 GBP and 0.9756% increase in value from last week's level 26,1268 Pesos / 1 GBP.
Crypto Futures News & Analysis
Bitcoin trades at US $ 5500, the lowest level recorded in 2018.
What caused the loss in Bitcoins price?
Where will Bitcoin go from here?
Is Bitcoin still the reference point of the encryption value?
Bitcoin lost about $ 1,000 per coin in the weeks ended on November 16th. Loss of value has been attributed to hard fork which will be run by Bitcoin Cash (BCH), Bitcoins baby brother.
Obviously, some battles between two whales, on both platforms, brought a level of uncertainty to all the parties involved in the two cryptic frequencies. Craig Wright and Roger Ver, two high profile encryption investors, have been fighting each other through social media like YouTube. They aggressively attack strategies and investment practices among themselves, removing confidence from encryption markets. Craig Wright wants Bitcoin Cash to remain as he is. His current opponent, Mr Ver, wants to apply the fork.
Co-founder and chief executive of Luno's encryption transaction wallet, Marcus Swanepoel, described the Bitcoin value loss in this way:
This drop in the Bitcoin price is very likely due to the upcoming hard fork programmed by Bitcoin Cash. The Bitcoin Cash chain passes programmed hard forks every six months to upgrade and improve the protocol. In most cases, these hard forks are undoubtedly the whole community that supports them. In this case, however, consensus could not be reached with two emerging factions and proposing different solutions for upgrading.
While these two investors worked on social media, Bitcoin's value declined significantly. Even if some describe the loss of value as blood, others assume that a new lower level of resistance is designed. The general consensus of analysts maintains the vision of Bitcoin's value recovery when one of the fighters has secured his victory in whole or in part.
The other view of the sharp drop in the value of Bitcoin's value centers around the lack of interest in the product. Some analysts say a reduced number of new investors has caused the loss of market dynamics. Looking at, today's investors are full of inventory and no longer want to buy more cryptophones at the highest levels. As a result, their offers have been withdrawn or decreased.
Crypto Stocks & Analysis
Tencent Holdings Limited (TCEHY) reports for the third quarter are available. Their earnings exceeded the expectations of most of the publicized forecasts. TCEHY maintains more than 20 patents using blockchain technology. An amount equal to the exclusion patents owned by Accenture, Bitmain, China's state-owned Grid Corporation, Google, Intel, Ping An Insurance, Sony, and Visa. The probability of adding blockchain technology to the day-to-day operations of all these corporate power plants is high enough to monitor their price activity with the fluctuations in the encryption markets.
Earnings per share (EPS), adjusted for the third quarter, was 2.06 yuan per share against 1.79 yuan per share for the same period a year earlier. Other factors that significantly influenced the increased EPS were revenue growth of 24% based on sales of 80.6 billion yuan against sales of 65.2 billion Yuan last year. Tencent was also able to report a 47% increase in advertising revenue to 16.2 billion Yuan.
Tencent Holdings Limited (TCEHY)
Chart courtesy of Yahoo Finance
There was a strong chance that TCEHY may have surpassed these higher than expected earnings. Earlier this year, Tencent was to release a much-anticipated digital game to Chinese youth. But the government came and told Tencent that the game was very addictive to the Chinese youth's minds and was also very harmful to their eyes. Tencent was not allowed to bring the game into the market, causing TCEHY to lose much of its capital earlier this year.
The game accounted for about 40% of Tencent's revenue stream. Online games such as the 'kings' price, which TCEHY is licensed to sell in China, are one of the highest cumulative games in the region. A huge multiplayer game, Unknown Player's Battlegrounds, "or" PUBG "expects the approval of Chinese regulators so that TCEHY can win a way to bring their product to the market with time constraints for the game TCEHY claims to be confident that agreement can be reached with regulators within a reasonable timeframe.
TCEHY closed the week trading at US $ 37.63 per share, earning $ 1.03 from the previous trading day. This price translates to a 2.81% increase from the closing price one day earlier.
The biggest winners this week at Cryptocurrencies
1) + 492.13% Nasdacoin (NSD) Started at $ 0.576 Week ended at $ 3.387
2) + 41.38% Mobius (MOBI) Started the week at $ 0.0290 He finished the week at $ 0.0410
3) + 37.61% CloakCoin (CLOAK) Started the week at $ 4,501 He finished the week at $ 6,194
4) + 32.37% Actually (FCT) Started the week at $ 4,409 He finished the week at $ 5,836
5) + 20.37% Wowbit (WWB) Started at $ 0.0481 Week ended at $ 0.0579
6) + 7.98% Odeon (ODE) Started the week at $ 0.238 He finished the week at $ 0.257
7) + 7.72% CrypticCoin (CRYP) Started week at $ 0.00570140 Week end at $ 0.00614132
8) + 6.28% APIS (APIS) Started week at $ 0.00363297 Last week at $ 0.00386125
9) + 5.73% chain link (LINK) Started at $ 0.489 Week ended at $ 0.517
10) + 5.13% Vitae (VITAE) Started the week at $ 1,754 He finished the week at $ 1,844
11) + 4.71% SmartCash (SMART) Started at $ 0.0170 Week ended at $ 0..0178
12) + 4.44% MDAC (MOAC) Started at $ 1,126 Week ended at $ 1,176
13) + 2.29% NEM (XEM) Started at $ 0.0916 Week ended at $ 0.0937
14) + 1.21% Dentacoin (DCN) Started at $ 0.00024771 Week ended at $ 0.00025070
15) + 0.99% Yeah (DAI) Started at $ 1,005 Week ended at $ 1,015
Encryption diagram of the week
Graphical concession Coinlib
Nasdacoin (NSD) is ranked 91th in the list of encrypted orders according to their capitalization on the market. Current Nasdacoin capitalization is $ 51,200,000. Nasdacoin describes themselves as a decentralized encrypted virtual currency. Heed you! No news or volume of transactions is available to confirm the dramatic rise in value associated with Nasdacoin at the moment.
It was heard through the Grapevine
Upcoming International Events and Events
November 19, 22, 24, 27, 30 – Browse the European Blockchain Hub Stockholm, Manila, Ho Chi Minh, Jello, Bangkok,
November 16 – 17 – CryptoFinance 2018 Oslo, Norway
21 – 22 November – Russian Blockchain Week Moscow, Russia
November 21 – 23 – CryptoEvent RIW Conference Moscow, Russia
28 – 29 November – Blockchain Expo North America 2018 Santa Clara, California
29 – 30 November – International Monaco horse block forum Monaco
19 – 21 March 2019 – Money20 / 20 Asia Singapore
Adab Solutions (ADAB) Sale Starts November 18 Sale ends December 28 / The first Islamic encryption exchange, based on Shariah standards
SharkGate (SHKG) Sale starts on November 18, 2018 Sale expires January 17, 2019 / Providing unrivaled hacker protection on a site as well as running a malware scanner 24/7
Angels of generosity (BANG) Sale Starts November 19 Sale Expires Dec 19 / Automated Marketing Platform for Generosity Campaign
Enzyme (EYM) Sale starts on November 19 Sale ends December 10 / Bringing transparency and security to the user. Enzym is a free mobile game that triggers meetings outside of our usual circles (friends, family, colleagues …)
iCasting (TLNT) Sale Starts November 19 Sale ends December 28 / A revolutionary tactical tactical ecosystem that serves the entire casting industry from a platform
EthicHub (ETHIX) Sale Starts November 20 Sale Expires Dec. 18 / Transnational Gay Interaction Platform[ad_2]