🗞 Daily Crypto News, May, 10th 💰

Coinbase Suffers Brief Outage as Bitcoin Tumbles 10% in 30 Minutes ;
Award-Winning Filmmaker Torsten Hoffmann Launches Bitcoin Documentary Cryptopia ;
US Mining Firm Plans to Nearly Double Hash Rate After Halving ;
Bitcoin Halving Means Miners Will No Longer Be Biggest Sellers of BTC ;
Chinese Court Rules Bitcoin Is Asset Protected by Law ;
🗞 Daily Crypto Calendar, May, 10th 💰
Bitcoin Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Coinbase Suffers Brief Outage as Bitcoin Tumbles 10% in 30 Minutes

Coinbase experienced a brief outage Saturday as the price of bitcoin crashed 10% in 30 minutes.

According to Coinbase’s status page, the exchange’s website, mobile app, and API website experienced partial outages beginning at 17:26 Pacific time (00:26 UTC). Ten minutes later, the San Francisco-based company said it was still investigating. Prominent Twitter accounts also noted Coinbase’s outage as the price of Bitcoin tumbled from $9,500 to $8,100.

By 18:14 on the West Coast, service had been restored for the San Francisco-based company's consumer and professional trading sites. Reached Saturday evening, a spokesperson for Coinbase declined to comment beyond what was on the status page, which said the exchange was monitoring the situation.

Coinbase experienced a similar outage last week when bitcoin rallied 15% to $8,900. At the time of publishing, Coinbase’s volume was not excessively high relative to other peaks in trading volume during the past two weeks, according to data provider Skew.

🗞 Award-Winning Filmmaker Torsten Hoffmann Launches Bitcoin Documentary Cryptopia

This week filmmaker Torsten Hoffmann launched the cryptocurrency-infused documentary “Cryptopia: Bitcoin, Blockchains and the Future of the Internet.” Cryptopia discusses the powerful economy and flourishing ideas that stemmed from Satoshi’s invention through the eyes of some of the industry’s well known movers and shakers.

.The three-time award-winning filmmaker Torsten Hoffmann is back again after his acclaimed film “Bitcoin: The End of Money As We Know It.” Hoffmann’s latest picture stars people like Andreas Antonopoulos, Roger Ver, Charlie Lee, Samson Mow, Preethi Kasireddy, Wences Casares, and Laura Shin. The film discusses how bitcoin and the technology and applications that stem from it, have and continue to transform our world for the better. Further, the film touches on web 3.0, decentralized finance, and a few different themes than the last documentary. Anyone can visit the official website and watch the movie for a ticket price of $5.88 (5.40 euros) or 0.0007 BTC.

US Mining Firm Plans to Nearly Double Hash Rate After Halving

U.S.-based mining firm, Riot Blockchain, has more than doubled the number of next-generation Bitcoin (BTC) miners it has purchased, buying 1,040 Antminer S19s from Bitmain on May 6.

The additional miners cost the firm $1.9 million, following Riot’s purchase of 1,000 S19s Pros, revealed on April 30.

Riot predicts 80% increase in hash rate after deploying S19s

Anticipating that the units will have been shipped and deployed during the third quarter of this year, Riot expects the coming 2,040 S19s will increase its operational hashrate by 80% by 2021.

🗞 Bitcoin Halving Means Miners Will No Longer Be Biggest Sellers of BTC

After the halving, crypto exchanges selling Bitcoin, which they collected in trading fees, may pose the biggest threat to the ongoing Bitcoin rally as miners earn less BTC.

Following the Bitcoin (BTC) halving on May 12, traders generally expect the price of the top-ranking cryptocurrency by market capitalization to drop. According to a prominent on-chain analyst, the selling pressure may come from crypto exchanges.

Willy Woo, the co-founder of Hypersheet, said that exchanges will likely begin selling their storage of crypto assets composed of trading fees. Typically, exchanges receive trading fees in the form of cryptocurrencies and sell them to cover operational costs.

Considering that the crypto exchange market generates 1,200 BTC a day from fees — equivalent to $11.6 million — it may slow down the uptrend of Bitcoin.

🗞 Chinese Court Rules Bitcoin Is Asset Protected by Law

A court in Shanghai, China, has reportedly ruled that bitcoin is an asset protected by Chinese law in a case that has dragged on for years. The case involves a theft of two different cryptocurrencies, one being bitcoin, from an American. The defendants argued that bitcoin was not recognized under Chinese law; the court disagreed, citing documents by the central bank, the People’s Bank of China (PBOC).

The first hearing of this case found that there was an economic dispute and the perpetrators were sentenced to prison for six and a half months to eight months. The defendants agreed to give all the skycoins back but not bitcoins, arguing that cryptocurrencies were not assets under Chinese law so the couple did not have the right to demand them back. The court disagreed and ordered them to return all the cryptocurrencies they took from the couple or pay them what the coins were worth. When the couple received neither the bitcoins nor the equivalent funds, they filed a lawsuit.

The four defendants appealed, reiterating that cryptocurrencies, including bitcoin and skycoin, were not legal property under Chinese law. However, Shine news outlet reported on Thursday that the Shanghai court has ordered them to return the coins, adding:

The court found bitcoin to be a digital asset that should be protected by law.

🗞 Daily Crypto News, May, 10th💰

MimbleWimbleCoin (MWC)

Tokok Listing

VeriSafe (VSF)

"$VSF will be listed May 10th @VeriSafeProject"

BitTorrent (BTT)

"The next one [snapshot] will be on May 11th."

Bitcoin Trading Update by Hive account@cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

As I was afraid, the NO break of the resistance line at 10k$ created a correction which could go test the support line at 9300$. The ideal scenario is that after a touch on that support we have a nice bounce which will go break the resistane line at 10k$. Let's see if we will stay upper than 9400$ first, all the rest will be bonus.

Last Updates

🗞 Daily Crypto News, May, 10th 💰

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Coinbase Suffers Brief Outage as Bitcoin Tumbles 10% in 30 Minutes

🗞 Award-Winning Filmmaker Torsten Hoffmann Launches Bitcoin Documentary Cryptopia

US Mining Firm Plans to Nearly Double Hash Rate After Halving

🗞 Bitcoin Halving Means Miners Will No Longer Be Biggest Sellers of BTC

🗞 Chinese Court Rules Bitcoin Is Asset Protected by Law

🗞 Daily Crypto News, May, 10th💰

Bitcoin Trading Update by Hive account@cryptopassion

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