South Korean Crypto Projects Reaction On The Recent Legalization🚀🔥

According to reports, a full session of the National Assembly of the South Korean parliament has passed an amendment to the Act on Reporting and Use of Specific Financial Information. Owing to this amendment, cryptocurrency trading is now ‘legitimized’ and has made its way into the legal system for the South Korean government.

This is a huge win for the digital asset industry, especially for the many exchanges and platforms based in South Korea, as the report claimed that this amendment will usher in a complete restructuring of the blockchain industry.

📍We have prepared the Watchlist to track Korean Crypto Projects performance.
If we missed anyone, let us know!

$ATOM just broke Inverse H&S on the 1H.

Pump it! #AltcoinSeason continues!! BUY THE FUCKING DIP!

Binance has issued Binance KRW (BKRW), a BEP-2 stablecoin pegged to KRW, in partnership with BxB, Inc. of South Korea. BKRW will be available for trading at a rate of 1 BKRW = 1 KRW.

https://www.binance.com/en/support/articles/360040135172

​​After our signal WRX pumped by 109% 🤑💰 As I wrote, potential is unlimited. So better buy it back on pullback.

🛒 Buy zones 1175 - 1080 - 1011
🎯 Mid term targets 1250 - 1430 - 1690
✊ Long term targets 1900 - 2050 - 2250

#WRX

​​#MANA look extremely good here. Might add some more at 490-500.

Targets 560 - 580 - 600 - 640

WRX/BTC Binance

🛒 Buy zones 1175 - 1080 - 1011
🎯 Mid term targets 1250 - 1430 - 1690 - 1900 - 2050

#WRX

​​$LINK
Rising Wedge.
High swept.
Uptrend angle still bullish.
4H Demand should be used as Long entry according to PA.

​​The big Alt-Push has made 57.51% profit. Congratulations.We take 7.51% fees. Please contact: @CryptoWorldTina for a payout. This Alt-Push was for people who invested 0.05BTC to 15BTC.

​​The small Alt-Push has made 26.10% profit. Congratulations. We take 6.10% fees. Please contact: @CryptoWorldTina for a payout. This Alt-Push was for people who invested 0.02BTC to 0.05BTC.

👆🏻 Next Alt-Push is ready! Contact @TinaCarterCrypto 📈✈️

​​The Latest Breaking News 📣

1. SEC Proposes Amendment for Easier Fundraising, including ICOs — link

2. BitMEX and Kraken Crypto Exchange Users Warned by British Watchdog(FCA) — link

3. Leading clothing brands, including Nike, Tommy Hilfiger and Calvin Klein, are taking part in a new blockchain project — link

4. Robinhood Starts Reimbursing Users Affected by the Two-Day Outage (By Paying a Measly $15) — link

5. BitGo Enters Crypto Lending Market with New Services — link

6. Omni Core team releases protocol update to fix doubled transaction bug — link

7. Canaan Faces Class Action Lawsuit Alleging Dubious Practices During IPO — link

8. Coinbase CEO believes the number of crypto users can go from 50 million to 5 billion in the future —link

$BTC looks to be buiding out a Head & Shoulders pattern but still not confirmed yet.

In another view

Bitcoin is testing several resistance for now (local resistance + resistance trend line + the top of the falling wedge)

Nothing interested here until we break the resistances. Bitcoin needs to consolidation and if it breaks 9,100 level would bring us into another rally, otherwise would be pretty bad.

Only 1% of $1 Trillion Transacted in Crytpo in 2019 Was Illicit

According to Chainalysis’ March 5th webinar, over $1 trillion worth of cryptocurrency transactions took place in 2019 with only 1.1% of them being illicit.

Diminishing of darknet markets

Overall, as crypto adoption keeps on growing and the number of use cases for cryptocurrency expands, illicit transactions on a percentage basis, keep diminishing; implying that the industry today is much healthier than in the early days when much of the volume was driven by darknet markets.

Bank-backed Blockchain Keeps Trade Finance Flowing In Virus Choked Supply Chain

— Contour, a blockchain-based trade finance platform, is set to go live in 2020

— Contour has attracted investment from eight banks

A blockchain trade finance platform developed by eight banks, including HSBC and Standard Chartered, is ready for commercial launch during the second half of this year after completing over US$30 million worth of letter-of-credit transactions last year during its trial period.

👉 Details

📉BTC took a real nosedive & just broke down $8200

⚠️CME Futures closed at 9170 on Friday, so there is going to be a HUGE Gap, which will be closed eventually

​​Bitcoin Smashes Below $8,300 In Violent Downturn as Buying Pressure Evaporates

Bitcoin’s selloff seen yesterday reached a boiling point this morning, as the cryptocurrency has now begun its descent towards the $7,000 region. This decline has led BTC to plummet below $8,300 in a brief movement, leading analysts to widely eye further downside.

$185 Million in BitMEX Longs Liquidated

Data from DataMish shows $185 million worth of bitcoin contracts were liquidated on BitMEX for the last 24h, as bitcoin fell from $9,200 to $8,166.

Bitcoin Futures Volume on CME Records New 2020 Lows

CME’s Bitcoin futures volumes are depleting and so is the Open Interest OI. At press time, the volume for Bitcoin Futures on CME March 06, 2020 was at $88 million. The last time it was this low was on December 03, 2019, when the volume was $67 million.

OI, however, is holding up better than the volume. On March 06, 2020, OI was above $200 million $217 million. Considering the worsening macroeconomic situation, it seems more than normal; with stock markets plunging to record levels, this drop in Bitcoin Futures volume is acceptable.

Institutional investors might be reacting to the Coronavirus scare. The lockdown in Chinese markets and other countries around the world has caused the financial markets to experience a jerk.

It took almost 60 days to fill that Gap at 7675

HUGE Gap will be filled eventually, but this can take some time