Market Analysis
- BTC has formed a bear flag consolidation after failing to breakout above the inverse head and shoulders pattern from a week ago (Feb. 5)
- The price over the last few days is indicative of short-term bear market exhaustion. BTC closed below the 200-day moving average (MA) for the first time since Feb. 5 and continues to test that point.
- Market volume continues to be very low, coming in at $15.7 billion
Daily News
- Warning: If you have signed up to the DADI ICO, your information has been leaked by the team to hackers and phishers, who are currently exploiting this data for phishing scams. THE DADI team is trying their best to cover up any trace of this happening.
https://www.reddit.com/r/CryptoCurrency/comments/83ym0j/warning_if_you_have_signed_up_to_the_dadi_ico/
DADI ICO was hacked and particpants personal information may have been leaked. Take caution to carefully check all received emails. The hackers are sending emails that contain a link to myetherwallet.com, but with dots underneath the letters (similar to the recent Binance phishing site). Some of you may also remember last month's data leak, which allowed phishers to make off with $60k in ethereum.
- Lightning Strikes! LN Mainnet Reaches 1,000 Nodes
https://www.ccn.com/lightning-strikes-ln-mainnet-reaches-1000-nodes/
The Lightning Network (LN) notched another historic achievement over the weekend, as the LN mainnet reached 1,000 active nodes for the first time in its short history. However, users have yet to use it to transact meaningful capital. The network is only holding about 4.5 BTC, worth about $43,000 at the present exchange rate. Moreover, nearly forty percent of network-connected nodes do not have any active payment channels.
- No Legal Basis to Ban or Limit Bitcoin Mining: EU Official
https://www.ccn.com/european-commission-watching-energy-consumption-for-crypto-mining/
The European Commission has confirmed that it is paying attention to concerns about rising electricity consumption for cryptocurrency mining in the European Union. However, there is currently no legal basis to prevent or limit energy consumed within the EU.
Ultimately, the Commission has not invoked any way to track cryptocurrency mining because it is not an illegal activity. However, the Commission will review the activity as it impacts the demand for energy.
Other News
CFTC Moves to Cement Authority Over Crypto Fraud Cases
https://www.coindesk.com/cftc-moves-cement-authority-crypto-fraud-cases/
Japan's Third-Largest Electric Provider Is Testing Bitcoin On Lightning
https://www.coindesk.com/japans-third-largest-electric-provider-testing-bitcoin-lightning/
What's Wrong With John Oliver's Bitcoin-Beanie Baby Comparison
https://www.coindesk.com/john-oliver-bitcoin-whats-wrong-beanie-baby-comparison/
Report: South Korea Could Ease Its ICO Ban
https://www.coindesk.com/south-korea-may-lift-ico-ban/
Coinbase Releases Cryptocurrency Tax Calculator
https://www.coindesk.com/coinbase-eases-crypto-tax-procedure-with-gainloss-calculator/
South Carolina Wants To Ban Genesis Mining Over Unregistered Securities
https://cointelegraph.com/news/south-carolina-wants-to-ban-genesis-mining-over-unregistered-securities
‘Bitcoin Misery Index’ Indicates Now is A Good Time To Buy
https://www.ccn.com/bitcoin-misery-index-indicates-now-is-a-good-time-to-buy/