Ethereum (ETH) Price Analysis: Correction Still Going On

Ethereum is pulling back after testing support around $480 and could be due for a test of the nearby resistance levels. Applying the Fib retracement tool on the latest swing high and low shows that the 61.8% level lines up with a key area of interest at $640. Price looks ready to move up to the 50% Fib from here and RSI is suggesting that bulls could stay in control for a bit longer. Stochastic is also moving up but nearing overbought levels to reflect exhaustion among buyers. Turning back…

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How crypto mining can hijack your computer

The Aditya Birla Group recently suffered a cryptojacking attack, wherein around 2,000 computers fell prey to this new form of cybercrime. Cryptojacking is a kind of cyber threat where computers are hijacked and their computing power used to mine cryptocurrencies. According to a recent report by Quick Heal, over 18 million ransomware and crypto-mining attacks were registered in 2017-2018, with a sharp increase in cryptojacking between December 2017 and March 2018. Cryptojacking is not restricted only to big companies. All users who browse the internet are vulnerable to it. Cryptojackers…

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Average ICO Investor Enjoys A Return of 82%: Boston College Researchers

There has already been a lot of talk about ICO scams in the recent days. But there also seems to be another side of the story that no one has been talking about till now. A new report published by some researchers of Boston College is suggesting that despite the large number of scams an average ICO investor still rakes in a profit of 82%, which is far more impressive than the ROI given by most major stocks around the world. That’s right – the 54 page report published by…

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SOUTH KOREA MAY SOON LEGALIZE ICOS

South Korea’s National Assembly has put forth an official proposal to permit domestic initial coin offerings (ICOs), signaling a possible reversal of the outright ban on the lucrative crowdfunding method issued in September of last year. South Korea, the third most prominent Bitcoin marketplace in the world, has long remained a source of uncertainty in the cryptocurrency space. The country’s government flat-out banned initial coin offerings (ICOs) in September 2017 and has since failed to deliver any sort of clarity in regards to the future of cryptocurrency within the East…

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Gmex and Digital Asset Group form blockchain JV

Trading and post-trade technology vendor Gmex Group is forming a joint venture with upstart blockchain outfit Digital Asset Group in an effort to bridge the gap between mainstream finance and the emerging DLT and crypto economy. Digital Asset Group (not to be confused with Blythe Masters’ Digital Asset) says that it aims to be the “premier trusted digital and crypto economy platform connecting traditional financial services with emerging digital assets”. The London-based firm has been set up by wealth management sector veteran Sean Kiernan with Dmitry Kaminskiy, an entrepreneur and…

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Can Bitcoin disappear as a whole?

Understanding the risks that surround Bitcoin will help users make better decisions when using the network. Apart from the security and privacy of your coins there are also other concerns around Bitcoin’s stability and security that deserve our attention. These risks are endemic to Bitcoin’s design and its young ecosystem, and they are often outside of our control. While there is little we as individuals are able to do about them, understanding these risks helps us understand Bitcoin as a whole, and allows us to make better decisions about how…

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No Blockchain Network is Remotely Close to Ethereum, Says Golem CEO

Zulian Zawistowski, the CEO of Golem, a smart contracts-based decentralized supercomputer, stated that Ethereum is the most promising blockchain platform in the global cryptocurrency sector and no other blockchain protocol comes remotely close to Ethereum’s potential and applicability. Ethereum’s Advanced and Sophisticated Platform Golem, the 47th largest cryptocurrency with a $387 million market valuation, which recently was introduced to the South Korean market with the support of Bithumb, the country’s biggest cryptocurrency exchange, is an Ethereum-based blockchain network that is capable of solving difficult mathematical problems and processing complex computations…

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India Considers Taxing Cryptocurrency at 18% as ‘Intangible Property’: Reports

India is working on proposals to make cryptocurrency transactions subject to goods and services tax (GST), sources told Bloomberg May 23. According to the anonymous parties with “direct knowledge” of the plans, the government’s Central Board of Indirect Taxes is considering applying the 18 percent tax to exchange operations, which it would view as “intangible goods.” “Purchase or sale of cryptocurrencies should be considered as supply of goods, and those facilitating transactions like supply, transfer, storage, accounting, among others, will be treated as services,” the publication reports in a summary.…

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Major Japanese Fintech Company Reveals Plans to Launch Crypto Exchange This Year

Money Forward Inc., the operator of one of Japan’s most popular personal budgeting apps, has announced its plans to launch a crypto asset exchange this year, in a company press release Wednesday, May 23. A new subsidiary, MF Financial Co., Ltd., that launched today will be devoted to the company’s new crypto exchange project, and will be headed by a member of Money Forward’s Blockchain and Virtual Currency Laboratory. The press release outlines MF’s plans to first launch a crypto media platform by summer 2018, followed by a crypto asset…

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Tom Lee Holds to $25,000 Bitcoin Price Prediction, Cites Three Supporting Factors

Co-founder and Fundstrat strategist Tom Lee is holding to his prediction that Bitcoin (BTC) will reach $25,000, CNBC reports May 23. Lee identifies three key factors that make him believe the price will surge past the 2017 high. On Wednesday, BTC dropped below $8,000 and traded around $7,500, losing most of the gains it made from mid-April to early May. With Wednesday’s plunge, BTC is now down 41 percent this year. Lee believes the drop is only due to “typical crypto volatility”, and explains his bullish stance with three major…

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