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What happens with crypto in the divorce court?

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There’s a very 21st century problem you hopefully haven’t come across yet – who inherits the digital assets of yourself or those of your kith and kin? And when you add to those digital assets your crypto it could get even more complicated.

That’s one problem then. Here’s another. How about being confronted with the even messier predicament, perhaps, that arises when the crypto-rich hodler falls out of love – not with crypto of course but with their marriage partner.

Think about this for a minute. Analogue divorce is bad enough, with, for example, bricks and mortar property to divide. However, dividing up, say, the digital music archive, is painful too, especially if it’s a family streaming account that contains all those carefully crafted playlists, which admittedly may now be associated with memories you want to forget.

Well if you thought that was complicated, crypto introduces yet another layer of complexity, and angst.

Wilsons, another London-based firm of lawyers, has identified three major areas of concern that are the subject of fierce litigation, and they are traceability, recklessness and volatility.

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Ethereum Founder Says Cryptocurrencies Could Fall to ‘Near-Zero’ At Any Time

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The founder of the Ethereum network has warned that the cryptocurrency market could ‘drop to near-zero at any time.’

Taking to social media over the weekend, Vitalik Buterin said:

“Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time.”

The 24-year-old Russian-Canadian programmer advised that investors should only put in the money that they could afford to lose, adding:

“If you’re trying to figure out where to store your life savings, traditional assets are still your safest bet.” 

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Bitcoin Price: Will Bullish ‘Flip’ Finally Clear $11K Hurdle?

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Bitcoin price has remained above $10,000 despite its rapid retrace over the weekend when market momentum suddenly fizzled out.

Vays Hints At ‘Bullish’ Daily, Weekly Outlook

After passing $11,000 in Sunday trading, BTC/USD peaked at $11,283 on Bitstamp before dropping $1500 in hours to hit a low of $9727.

A correction took prices back over $10,000 where they remained into Monday, analysts predicting a ‘flip’ into bullish territory as Bitcoin’s most likely next move.

“The daily [chart] remains bullish and the weekly wants to flip bullish,” Tone Vays told viewers of his latest online trading seminar released late Sunday.

As of press time, BTC/USD was centering around $11,000 once again, having risen performed a three-hour uptick of $500.

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Bitcoin Demand in South Korea Rises as Trade Volume Hits Monthly High

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As demand returns to the markets South Korea is once again leading the way for trade volume. Bitcoin recorded a monthly high trading volume on exchanges in the country as fears of clampdowns subside and confidence returns to the crypto markets.

Local media reported that domestic Bitcoin trading volume reached a maximum value in the month following the holiday season. Over $250 million has been traded in BTC on South Korea’s leading exchange Bithumb in the past 24 hours.

The recorded volume on the 19th was the largest in a month indicating a steady return to crypto trading for South Koreans. Over 84,979 Bitcoins were traded at a value of 1.24 trillion won. This is higher than the last peak level on January 20 when 80,829 BTC were traded. The surge rose more than half of the 16 day trading volume of 42,094 Bitcoins two days ago, and the 17 day trading volume was only 58,329 coins. The Kimchi premium, which shows overheating in the domestic market, also stood at around 6-7%.

During the big dip on February 6 Bitcoin prices fell lower in South Korea than elsewhere however it has since doubled in less than two weeks. Transaction volume has increased with the inflating price and a lot of investors got in at a psychologically significant 10 million won price level ($9,300). Positive conclusions from crypto conferences in the US, and self-regulatory bodies being setup in Japan, has boosted buoyancy in the markets and traders are returning.

Bitcoin is currently trading at $11,420 on Bithumb, and $10,800 internationally. There are often discrepancies in prices on Asian exchanges as demand is greater. The fact that a new volume level has been reached is a positive indicator for the state of the markets in general, South Korea is once again leading the way back to full confidence in cryptocurrencies.

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Litecoin Price Analysis: LTC/USD Correcting Lower

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Litecoin price is struggling to break the $235 resistance against the US Dollar. LTC/USD is currently forming a range pattern with support near the $210-215 area.

Key Talking Points

Litecoin price is facing a lot of sell offers near the $235 level (Data feed of Kraken) against the US Dollar. There is a contracting triangle forming with support at $215 on the hourly chart of the LTC/USD pair. The pair may continue to trade in a range before it makes the next move either above $235 or below $215.

This past week, we saw a nice upward move above $200 in litecoin price against the US dollar. The LTC/USD pair was even able to move above the $220 resistance, but it struggled to gain pace above the $235 resistance level.

The pair formed a high near $235 and started a downside move. It declined below the $220 support and settled below the 100 hourly simple moving average. There was also a break below the 23.6% Fib retracement level of the last upside wave from the $177 low to $236 high.

However, the downside move was limited as the pair found support near $210. Moreover, the 50% Fib retracement level of the last upside wave from the $177 low to $236 high also acted as a support and prevented further declines.

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White House Official: Bitcoin Regulation Won’t Happen Anytime Soon

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White House cybersecurity coordinator and special assistant to the president, Rob Joyce, stated the US still has a long road ahead of it before it starts regulating the world’s first cryptocurrency.

Haste makes waste

Bitcoin investors in the US worried about government regulation need not start sweating, yet.

At the Munich Security Conference in Germany, Joyce — a nearly three-decade veteran of the National Security Agency who helps coordinate policy strategy in regards to cybersecurity between the government, private companies, non-governmental organizations and other countries — emphasized the importance of taking a measured approach to Bitcoin and the cryptocurrency space, as opposed to rushing in with government regulation which could have unintended consequences.

Joyce said:

I think we’re still absolutely studying and understanding what the good ideas and bad ideas in that space are. So, I don’t think [government regulation is] close.

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Cardano Price Technical Analysis – ADA/USD to Decline Further

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Key HighlightsADA price declined recently after forming a high near the $0.4185 level against the US Dollar (tethered). There was a break below a major bullish trend line with support at $0.3850 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is currently holding the $0.3600 support, but it remains at a risk of more declines.

Cardano price is under bearish pressure against the US Dollar and Bitcoin. ADA/USD could break the $0.3600 support and decline further in the near term.

Cardano Price Downtrend

There was a slight upside move in ADA price above $0.4000 this past week against the US Dollar. The price traded as high as $0.4185 and it later started a downside move. It declined and broke the $0.4000 support. It also traded below $0.3800 and the 14 hourly simple moving average, which is a negative sign. Moreover, there was a break below a major bullish trend line with support at $0.3850 on the hourly chart of the ADA/USD pair.

The pair traded towards the $0.3600 support and formed a low at $0.3601. It corrected higher and moved above the 23.6% Fib retracement level of the last decline from the $0.4185 high to $0.3601. However, the pair is finding it difficult to move above the $0.3800 resistance. Moreover, the 38.2% Fib retracement level of the last decline from the $0.4185 high to $0.3601 at $0.3824 is also a major resistance. There is also a connecting bearish trend line forming with resistance at $0.3800.

Therefore, there is clearly a major resistance forming near $0.3800. ADA price has to move above $0.3800 to retest $0.4000. On the downside, the $0.3600 support holds a lot of importance, which must hold to avoid further declines.

Hourly MACD – The MACD for ADA/USD is slightly placed in the bullish zone.

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Phone Numbers Becoming Backdoor to Crypto Accounts

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Hackers have discovered that the easiest and most direct way to steal cryptocurrency is to first steal phone numbers.

Hijacked phone numbers are used to drain crypto accounts

A growing number of online crimes begin with hackers persuading cellular phone companies to transfer a victim’s number to a device of their own. In many cases this allows the hacker to reset account passwords that use the phone number as a backup security measure gaining access to email, social media, and cryptocurrency accounts.

Though many who have been hacked this way are reluctant to admit the crime even highly successful, technical savvy investors have been targeted. Case in point Joby Weeks lost control of his phone number and subsequently, a million dollars worth of cryptocurrency was drained from his accounts. This despite requesting that his phone company add additional security measures after his wife and parents had their numbers stolen.

“Everybody I know in the cryptocurrency space has gotten their phone number stolen,” said Joby Weeks.

Hackers seem to home in on those most active on social media platforms related to trading crypto-currency. Experts giving advice on forums and even consultants that appear on mainstream media talking about investing have been successfully targeted through this method.

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Ripple Price Technical Analysis – Can XRP/USD Hold $1.00?

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Key HighlightsRipple price after an upside move faced a strong resistance at $1.1500 against the US dollar. There was a break below a connecting bullish trend line with support at $1.0800 on the hourly chart of the XRP/USD pair (data source from SimpleFx). The pair is currently holding the $1.00 support, but it is struggling to move higher.

Ripple price made a downside move recently against the US Dollar and Bitcoin. XRP/USD must stay above the $1.0000 support area to avoid further declines.

Ripple Price Resistance

There was a substantial recovery above $1.10 this past week in Ripple price against the US Dollar. The price traded above the $1.12 and $1.14 level, but it could not break the $1.15 resistance. It formed a high at $1.1508 and later started a downside move. It declined and broke the $1.10 support area to settle below the 100 hourly simple moving average.

During the downside, there was a break below a connecting bullish trend line with support at $1.0800 on the hourly chart of the XRP/USD pair. However, the downside move was protected by the $1.0000 support. A low was formed at $1.0055 before the price started an upside correction. It traded above the 23.6% Fib retracement level of the last decline from the 1.1508 high to $1.0055 low. However, the upside move was protected by the $1.06 level and the 100 hourly SMA. On the upside, there is a bearish trend line with resistance at $1.0700 on the same chart.

Therefore, an upside move above $1.06 and $1.07 won’t be easy. On the downside, the pair must hold the $1.00 support level to avoid further declines. Below $1.00, the price may decline towards $0.8500 in the near term.

Looking at the technical indicators:

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Protect Yourself And Your Cryptocurrency From Real Criminals

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Security experts advise on how to keep yourself and your digital coin safe from  thieves that focus on the crypto-wealthy.

Criminals targeting cryptocurrency investors

Cases of thieves targeting those who have gotten wealthy from the boom in Bitcoin, Ethereum and other digital currencies are on the rise worldwide. From Phuket, Thailand, to Manhattan to the Ukraine, stories of kidnappings and even killings for access to peoples Bitcoin is becoming a staple in the world news.

Fiat currency accounts in traditional banks and other holding systems have elaborate checks and countermeasures developed over a long time against thieves. The anonymous nature of cryptocurrency though assures criminals that once they have access to and can transfer the information to their own wallets it is nearly impossible to track down their identities.

Chainalysis is a company that specializes in tracing criminal activity on the Blockchain. Jonathan Levin the founder of the company has assisted law enforcement all over the world to try and track down stolen Bitcoin and its like.

Even when a transaction can be tracked through the Blockchain ledger though the anonymous design of cryptocurrency allows criminals not to have their true identities linked to their accounts. This is where the trail goes cold and not much more can be done.

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