crypto bitcoin

Cryptos Stumble to New Lows Early Tuesday, Blockchain Continues to Get Attention

And the Nano development team has been hit by a class action lawsuit in New York per the BitGrail hack in early February.

Nano Hit by Class Action Lawsuit in New York

The Nano development team has been hit by a class action lawsuit filed in New York. Nano is alleged to have promoted BitGrail as a safe exchange to trade its RaiBlocks cryptocurrency. Nano changed the name of RaiBlocks to ‘Nano coins’ in January of this year. BitGrail was hit by a large hack in early February, which allowed cyber-criminals to steal a huge amount of coins worth millions of U.S Dollars. Nano claimed when the hack took place, that it placed the blame on faulty BitGrail technology and was not responsible. However, this lawsuit alleges that Nano is responsible for money lost by traders because it promoted and endorsed the BitGrail exchange.

Bitcoin Cannot Escape Clutches of Bear Trend

Although Bitcoin was able to climb on Sunday and early Monday from lows made late last week, the cryptocurrency has found itself confronted with another shortage of buyers and is testing critical support levels again. Bitcoin is near 6700.00 U.S Dollars and it is essentially trading below early February levels which caused a massive amount of concern. Should Bitcoin continue to be confronted, its next vital support level could be the 6200.00 juncture. For speculators with a strong stomach, the 8000.00 mark looks like it could be a resistance target. Unfortunately for Bitcoin, it has not been able to escape the clutches of its bear trend, and traders should brace themselves brace for additional tests.

Bitcoin Daily Chart
Bitcoin Daily Chart

Cryptocurrencies a Fundamental Tool of Blockchain

As cryptocurrencies continue to be battered by declining prices, voices in the industry are calling for a balanced approach regarding regulations which will let the technology to thrive and innovate. Blockchain continues to get a growing amount of attention from businesses and investors, and the fundamental tool of cryptocurrencies is an important aspect of Blockchain. Regulations will certainly make cryptocurrencies more transparent and this could create an improved trading environment long term.

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Initial Coin Offerings and Blockchain Conference in UAE

The World Blockchain Forum will get underway in Dubai early next week on April the 16th. It will include seminars on Initial Coin Offerings and Blockchain.

  • April 16th – 17th, UAE, World Blockchain Forum in Dubai

Yaron Mazor is a senior analyst at SuperTraderTV.

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Yaron Mazor

Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology and education. Ten years ago, Yaron sold all of his businesses and became a trader. Yaron started an education provider that taught thousands of people worldwide how to trade. Since then, he has traded every single day across every imaginable financial instrument Organic Trading System (OTS) is an unprecedented, new paradigm of trading technique, developed by Yaron Mazor. The trading system utilizes a combination of essential resources of market data (Fundamental, market participant sentiment and the basic concepts of trends), which are harmonically coordinated, in order to enable a relatively fast, simple and easy way to decide which side of the market to be trading from – the Buy side or the Sell side.