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Pope Francis has announced that the Vatican next year will open its secret archives containing World War II-era documents from the controversial papacy of Pope Pius XII.
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Billionaire businessman Richard Branson says he hopes his Live Aid-inspired concert to raise funds for Venezuelans will persuade members of the country’s military to defy President Nicolas Maduro and allow humanitarian aid to cross the border.
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In a strangely positive twist to climate change, a new study finds Greenland could become a major exporter of sand as its glaciers disappear into the sea. As global temperatures rise, the island’s vast ice sheet is rapidly melting away, and large amounts of sediments are being washed into the…
President Trump said he’d consider changes to a cap on the federal deduction for state and local taxes, one of the most divisive provisions of the 2017 Republican tax overhaul.
Trump told regional newspaper reporters in response to a question Wednesday that he’s “open to talking about” revisions…
The European Central Bank is ready to use all its policy tools to support Europe’s softening economy, including by restarting a recently shelved bond-buying program, ECB President Mario Draghi said.
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The leading cryptocurrency markets have seen a slow start to the year, with the top three markets by capitalization shedding between 10% and 37% since early January’s local highs. January has also seen volatility in market cap rankings, with XRP and ETH competing for the second largest crypto asset capitalization, and EOS, USDT, and BCH competing for a position within the top five.
BCH Maintains Triple Figures Throughout January
After ending 2018 with a roughly 200% bounce from the all-time lows at the $ 75 area, BCH/USD has produced a slow start to 2019, slipping 36% from the Jan. 3 local monthly high of $ 175 to currently trade for approximately $ 110. When measured from the local top of $ 240 posted on Dec. 21, BCH has lost nearly 54 percent over the course of six weeks.
On Jan. 28, the markets saw significant selling pressure that drove BCH down 15 percent in just 12 hours to test support at $ 100. Since then, BCH has made slight gains amid consolidation, but appears poised for a retest of all-time lows should the current support area fail to hold.
When measured against BTC, BCH has also shed most of the gains it garnered during the late December bounce, with the current price of 0.032 BTC comprising a 43% drop from the Dec. 21 local high of 0.057 BTC, and a loss of 27% from January’s high of 0.044 BTC, with BCH currently trading for 0.032 BTC.
Despite the bearish price action, this past week’s selling pressure saw BCH/BTC retest the upper side of the descending trendline that appears to have guided price action over the course of the preceding six weeks. However, should the current support area fail to hold, it is likely that BCH will retest the all-time low area of 0.025 BTC.
Bitcoin cash is currently the sixth largest cryptocurrency with a market capitalization of $ 1.96 billion. BCH market dominance has slipped by nearly half a percent since the start of the month, dropping from 2.20% to nearly 1.73%.
BTC Experiences Low Volatility During January
BTC/USD has traded within a tight range during 2019 so far. BTC began January trading for $ 3,700, before posting a monthly high of $ 4,100 on Jan. 8.
Since then, BTC steadily bled down to yesterday’s local low of $ 3,325, a 19% drop in three weeks. BTC currently has a market capitalization of nearly $ 60.6 billion, and a dominance of 53.42%, up 1.5% since the start of the year.
XRP Ranks Second by Market Cap for Most of January
Opening January trading for nearly $ 0.35, XRP/USD spent the first 10 days of 2019 oscillating within an approximately 10% range, before posting a monthly high of over $ 0.38 on Jan. 10. Since then, ripple has fallen by roughly 25%, with prices currently testing support at December’s lows of roughly $ 0.28.
Despite also producing a bearish start to 2019, the XRP/BTC charts show bullish price action, with XRP currently testing the support at the long-term key price area of 0.000084 BTC. However, XRP has fallen by nearly 12% since opening the year trading for 0.000095 BTC.
After starting the year as the second-ranked crypto asset by market cap with a dominance of roughly 11.50%, ripple slipped to third on Jan. 3 and Jan. 11. XRP has since regained its rank as the second largest crypto asset by capitalization, with XRP currently posting a market cap of $ 12.01 billion and a dominance of 10.57%.
ETH Posts Volatile Start to 2019
ETH/USD traded within a wide range during January, opening the year at roughly $ 135 before gaining over 25% in roughly one week. After posting a monthly high of approximately $ 170 on Jan. 6, ETH has since lost more than 37% against the dollar, with current prices testing support just below $ 110.
ETH/BTC started the year trading for roughly 0.035 BTC, before rallying over 17% in a week to post a three-monthly high of approximately 0.041 BTC on Jan. 6. Since then, ETH has fallen 26% when measuring against bitcoin core to currently trade for nearly 0.031 BTC.
ETH is currently the third-largest cryptocurrency by market cap, with a capitalization of $ 11.08 billion. ETH dominance has fallen from 11.05% at the start of January to 9.78% as of this writing.
What do you think the overall trend for 2019 will be? Bullish? Bearish? Sideways? Share your prediction in the comments section below!
Images courtesy of Shutterstock
Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
The post Markets Update: Top Crypto Assets Open 2019 With Slow Month of Trading appeared first on Bitcoin News.
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After the longest government shutdown in US history, President Trump sounds ready to practice the art of the deal—or to let Mitch McConnell and Chuck Schumer do it for him. After two rival plans to reopen the government failed in the Senate Thursday, the president said he would support…
The Thai Ministry of Finance has rejected the last cryptocurrency exchange application it had been reviewing. The exchange, which has been ordered to close down business and return customer funds, is determined to stay operational. “Shutting down is not an option for us,” its chief strategy officer reportedly said.
Coin Asset Exchange Rejected
The Thai Securities and Exchange Commission (SEC) announced on Monday the outcome of the latest cryptocurrency exchange application it had been reviewing. The country’s Ministry of Finance, under the recommendation of the SEC board, decided to reject the application of Coin Asset Co. Ltd. to operate a crypto exchange.
The company has been allowed to operate in Thailand while its application was being reviewed. However, the SEC has notified the company of its rejection and ordered it to cease operations by Jan. 21.
The regulator told the exchange’s CEO, Sivanus Yamdee, that the minimum processing time is four months should the exchange reapply for a license, the Bangkok Post reported on Wednesday. Yamdee said his company will meet with the SEC on Friday to discuss continuing crypto operations. The news outlet further quoted him as saying:
We are seeking a way to keep our digital asset exchange operating as the business cycle is moving towards a peak … We are unable to endure such as long processing time. The business cycle is on the rise and there are costs for conducting daily business. It is not easy to maintain customer loyalty.
With about 10,000 customers, the exchange’s 24-hour trading volume is approximately 91 million baht (~$ 2.87 million) at the time of this writing. In August last year, the exchange unveiled its own line of cryptocurrency automated teller machines (ATMs). It also lists Jfin coin, the country’s first initial coin offering launched by a subsidiary of a company listed on the Stock Exchange of Thailand, Jay Mart Plc.
Coin Asset’s new chief strategy officer, Arnon Saksri, was quoted by the Bangkok Post as saying:
Ultimately, we want to be regulated … It will improve investor confidence and the legitimacy of our cryptocurrency businesses, but the SEC has to find the right way to do it … Shutting down is not an option for us.
The Thai Ministry of Finance issued licenses to four cryptocurrency businesses on Jan. 8, three of which are exchanges and one is a broker-dealer.
Reason for Denial
According to the statement by the Thai SEC, the finance ministry cited “a major change to the company’s management … [which] affected the readiness of the company’s important work systems” as the reason for rejecting Coin Asset’s application. The commission detailed that “three out of four directors responsible for the [exchange’s] important work systems resigned.” The ministry elaborated:
The company failed to meet the standards on work systems. For example, the systems for custody of client assets and know your customer (KYC) were inconsistent with the standards accepted by the [Thai] Anti-Money Laundering Office.
The exchange maintains that its security system is safe, noting that it complies with ISO/IEC 27001:2013 international standard, Prachachat Turakij publication reported on Tuesday. Coin Asset added that its KYC process is linked to Thai banks, with comprehensive anti-money laundering measures.
The finance ministry has allowed the company to keep operating until Jan. 21 “to ensure proper proceeding of related matters including notification to the clients regarding asset refunds or asset transfers to other digital asset operators according to the clients’ order,” the SEC emphasized. “Regarding clients’ assets under custody, the company is requested to transfer or return the assets according to the clients’ order and report the results of the matter to the SEC.”
Following the commission’s announcement, Coin Asset informed its customers that they can continue to trade until Jan. 21 and have until Feb. 14 to withdraw funds.
Do you think the Thai SEC will let Coin Asset remain open? Let us know in the comments section below.
Images courtesy of Shutterstock and the Thai SEC.
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The post Thai Cryptocurrency Exchange Determined to Stay Open After SEC Orders Shutdown appeared first on Bitcoin News.