Bitcoin Price Technical Analysis for 01/23/2018 – How Low Can It Go?
Bitcoin Price Key Highlights
Bitcoin price continues to trend lower and has barely found support after the previous retest of a broken short-term trend line.
Price is still inside its longer-term descending channel and looks ready for another move towards support.
*Applying the Fib extension tool on the latest correction shows that the 38.2% level is holding but that price could still head to the lower levels next.
Bitcoin price continued its slump and may be setting its sights on the lower Fib extension levels.
2 minutes ago
South Korea's financial watchdog has set a deadline for the ban on anonymous cryptocurrency trading accounts within the country.According to a new announcement from the Financial Services Commission (FSC), starting from Jan. 30, cryptocurrency investors in South Korea will have to use real-name bank accounts in order to continue trading. Once the rule comes into effect, investors can only deposit funds to trade cryptocurrencies if their name on the crypto exchange matches that on their bank account. The move comes as part of the financial regulator's push through a strengthened "know-your-customer" (KYC) compliance to curb cryptocurrency speculation. The FSC said in the release that the new rule is resulted from an inspection of domestic anonymous crypto trading accounts – assisted by six domestic banks, as well as the Financial Intelligence Unit – from Jan. 8–16. In addition, the official announcement also established an anti-money laundering guideline for cryptocurrency exchanges, which outlines situations where exchanges should stay alert to potential illegal activity. The statement said: "Specifically, for users to make virtual currency transactions more than 10 million won per day or more than 20 million won for 7 days when depositing and withdrawing funds, this is the type of financial transaction you suspect for money laundering." The new rule also appears to have a wider affect on foreign nationals who had been using cryptocurrency exchanges in South Korea through a virtual bank account. As the FSC's announcement pointed out, minors and non-citizens will be restricted from the new name verification service. So far, three major cryptocurrency exchanges in South Korea have said they are in line with the new mandate.
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We can classify the cryptocurrencies in 7 different categories.
I personally like to invest more in coins that belong to at least 2 categories of these 7. As photos:
Value reserves (Currently only Bitcoin and perhaps Ethereum can be considered)
Those used to make payments (probably in the future also Bitcoin and IOT coins will belong to this category)
The coins that guarantee Anonymity (Monero and Dash but also PIVX Verge and others have this feature)
Crypto-Platforms (like ETH and NEO) are used for new projects and companies to easily form new cryptocurrencies
The Utility-Tokens or Criptovalute of Companies, are the coins built on the platforms, and serve in theory to solve a particular problem
The Crypts that pay Dividends to who owns them and the Holda in the wallet (NEO and Binance are 2 but there are several) This category in particular is proving very successful
Then there are the fraudulent coins ... that do not serve a pipe but they exist only to defraud people .. I do not point out but they are quite evident ... if they have no other function besides speculation they are probably fraudulent
Crystal Rocket is a project created by Distributed Lab Since 2014 we organized dozens of seminars around the world, 12 international blockchain conferences in Ukraine, conducted 14 courses in universities and currently developing a certification program. Check our main website in the bio, a new specific website for this education page is currently under construction