Popular Chinese Firm Cheetah Mobile Launches Crypto-Wallet (Bitcoin.com)
Cheetah Mobile is a mobile internet provider and application producers based out of Beijing China. The company is the creator of some of the world’s most popular mobile applications and as of January 2017, the company boasts 634 million monthly users. The firm’s cryptocurrency wallet platform will hold BTC and ETH using a three-tiered security system that monitors user behavior, phone security, and asset management. “The app allows users to easily and safely send and receive assets, create and manage multiple wallets, and import wallets in a variety of formats,” Cheetah Mobile explains.
Japan Inspectors Raid CoinCheck Cryptocurrency Exchange Offices (Cryptovest.com)
Japanese Financial Services (FSA) inspectors have raided the offices of cryptocurrency exchange CoinCheck, as the authorities aim to explore the response of the exchange to the $500 million real-time hack attack that took place a week ago. The raid is the first ever at a cryptocurrency exchange in the country. Inspectors said that their aim is to monitor the exchange’s response and investigate CoinCheck’s governance practices. CoinCheck is still closed following the hack, and it is likely that the FSA gave the exchange a heads up before the raid, which put additional pressure on the exchange.
Pixabay/Public Domain
The Cryptocurrency Market has Halved in Less than a Month (Mashable.com)
Bitcoin, Ethereum, and all other major cryptocurrencies are taking a pummeling today. BTC is at $8,234, down 16.3 percent in the last 24 hours, and Ethereum is at $858, down a whopping 23 percent in the same time period, according to CoinMarketCap. Overall, the total market cap of all cryptocurrencies combined is currently $389 billion, roughly 53 percent down from its Jan. 7 high of $835 billion. The correction is likely due to the onslaught of bad news regarding cryptocurrencies in the last couple of months. China has banned cryptocurrency trading in September.
Russian Finance Ministry Proposes Offshore Cryptocurrency Trade Platforms (Sputniknews.com)
KASIMOV (Ryazan Region) (Sputnik) – The Russian Finance Ministry is proposing to create special offshore cryptocurrency trade platforms in Russia and is considering the Russian cities of Vladivostok and Kaliningrad as possible locations, Deputy Minister Alexei Moiseev said Friday. “In general, we are considering the possibility of setting up centralized [cryptocurrencies] trade platforms on Russky Island [in Vladivostok], Oktyabrsky Island [in Kaliningrad]. But, of course, we believe that it is necessary to allow such exchanges in Russia,” Moiseev told reporters.
Bitcoin Fell Off a Cliff and No One Knows How Far It Is to the Bottom (Gizmodo.com)
All good things must come to an end—and bad things, too. Bitcoin has had a hell of a ride over the last year, but that all seems to be over as almost 60 percent of its value has vanished in the last month. Enthusiasm in the cryptocurrency market is low as Bitcoin dropped below $8,000 for the first time since November. According to the popular cryptocurrency app Coinbase, the price of Bitcoin slumped to $7,540 on Friday morning before picking up to around $9,000 a little before noon. The run of thousand-percent increases was never sustainable, and even the most dedicated believers in the cryptocurrency revolution didn’t think the high of almost $20,000 would hold in the short term.
Bitcoin Biggest Bubble in History, Says Economist Who Predicted 2008 Crash (The Guardian)
The economist credited with predicting the 2008 global financial crisis said a 12% fall in the value of bitcoin on Friday was the latest proof that the cryptocurrency was the biggest bubble in history and destined for a crash. Nouriel Roubini, professor of economics at New York University, said bitcoin was “the mother of all bubbles” favoured by “charlatans and swindlers” as it fell below $8,000 (£5,600) early on Friday, marking a 30% drop since the beginning of the week as investors became increasingly twitchy about a clampdown on cryptocurrencies by regulators. Later it rallied, climbing back over $8,600 by 3pm (GMT).
Thai Finance Secretary: Blockchain Is Beneficial But People Should Know Risks (Coin Telegraph)
Thai Ministry of Finance’s permanent secretary Somchai Sujjapongse thinks that the Bank of Thailand and Thailand’s Securities and Exchange Commission (SEC) need to officially warn customers of the risks of investing in crypto markets, as reported in the The Bangkok Post today, Feb.2. According to Sujjapongse, a working committee on cryptocurrencies, formed by the Bank of Thailand, the SEC, the Ministry of Finance, and the Anti-Money Laundering office, will soon release a report on how to move forward with crypto regulation. In reference to the future of regulating crypto market investing, Sujjapongse said, “Allowing Bitcoin transactions to be made without warnings and direction from regulators is not acceptable.”
Litecoin vs. Ethereum (Digital Trends)
When it comes to investing in cryptocurrencies, nothing is a sure thing. If last year’s major booms and busts told us anything, it’s that you can expect volatility, wherever you go. That said, diversifying your crypto-portfolio is a wise move, as although bitcoin often drags everything up and down with it, there are some tokens that do things better than others. But which alternative currencies should you invest in? We have our favorites, but if you want to put your eggs into one specific basket, you need to look at the differences between some of the best options. What about if we pit Litecoin vs. Ethereum? Which one comes out on top? Litecoin has been around a lot longer than Ethereum, but Ether has grown in value far quicker. Then there are smart-contracts to consider. In this guide we’ll break down the key differences between these two altcoins, to give you the best basis for your own cryptocurrency investments.
Why Litecoin & Monero Could Benefit From A Partnership (CryptoDaily)
In perhaps the biggest news to come out of the cryptocurrency scene in recent days, two of the major players in the alternative finance sector – Monero and Litecoin – appear set to merge with one another, to make each brand interoperable with one another. Rumours of the merger began following a series of tweets posted by Riccardo Spagni, the project lead of Monero, and founder of Litecoin, Charlie Lee. The two had met and Spagni decided to post that the reason for the meeting was to discuss a joining of the two companies. While it was really no more than that – half a joke between two businessmen in the same industry, half a trolling of the altcoin community – it seems to have struck a chord, particularly with Lee, who lost little time in posting his own tweets where he seemed to be seriously considering the idea.
Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, NEM, Cardano: Cryptocurrency Price Analysis And Prediction (Cryptona.co)
The South Korean news has a confirmation that the government still holds their views on the cryptocurrency trading. Therefore, there is volatility in the market. However, according to the current news, as from Wednesday, cryptocurrency prices have bee falling drastically. On Thursday, there was the news that Bitcoin had fallen below the $10,000 level. Additionally, the other cryptocurrencies have also been in the same categories where their prices have fallen drastically. Therefore, failure to recover in the next few coming days, this might prompt the bulls to sell their investments which may additionally lead to liquidation. However, in the case that the bulls might defend the critical levels, there might be a sharp pullback, and the sidelined money will enter the market.
