Bakkt platform sees delays, regulatory prevalence, new mining products, Jimmy Song argues against Craig Wright being Satoshi, and Bitcoin’s bear market comparable to that of 2013, all while the entire market dumps further. Catch up on today’s headlines.
ICE’s Bakkt Delays Bitcoin Futures Launch
Today saw an announcement that Intercontinental Exchange has decided to move its Bitcoin futures exchange release date into January.
December 12th was a much-anticipated date for the crypto space with the launch of the Bakkt platform, featuring bitcoin-settled futures trading. However, the release date has been changed to January 24th.
The Bakkt team stated – “the new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract”, as reported by CoinDesk.
SEC Led Crytpo-Related Lawsuits Are On The Rise
2018 has seen an influx of regulation in the cryptocurrency space. Lawsuits related to crypto have reportedly risen more than 300% in 2018.
The first six months of the year saw more than 45 legal cases.
ICOs are currently under the spotlight of the SEC. The institution has made up about 30% of this year’s legal proceedings.
The SEC states -“market participants must still adhere to our well-established and well-functioning federal securities law framework when dealing with technological innovations, regardless of whether the securities are issued in certificated form or using new technologies, such as blockchain”, according to a public statement from the SEC on November 16.
Coinmine One Home Crypto Miner Looks Promising For 2019
As technology continues to improve, mining products continue to see production. Coinmine One is a mining and staking device funded by Coinbase Ventures.
Coinbase looks to take the simplicity they are known for, and apply that to mining.
Farbood Nivi, co-founder for Coinmine, talks about providing people with opportunity, which would aid in decentralization if more people become involved in mining.
Jimmy Song Proves Faketoshi’s Signature Is (Unsurprisingly) Fake
Craig Wright is famous for claiming to be Satoshi Nakamoto, the anonymous creator of Bitcoin. However, proof of such claims remains to be seen.
On November 16th, a Twitter account called @Satoshi posted a cryptographic message. It could be interpreted as “I am Satoshi, I’m still alive and well, and I want to send you all a message”, as reported by Crypto Insider. However, Bitcoin SV members were reportedly behind this message.
Crypto Insider reports further antics by the Bitcoin SV side.
Notable Bitcoin developer Jimmy Song stepped in to provide some evidence against Craig Wright.
Capitulation? This Bitcoin Sell-Off Still Isn’t As Extreme As 2015’s
In the past week, the cryptocurrency markets have lost about $60 billion in market cap. Bitcoin has dumped over 75% from its all-time price high.
However, the 2013-2015 cryptocurrency bear market saw an 86% price decline for Bitcoin, 11% more than this year.
CoinDesk mentions the large selling volume associated with an interesting 4-hour candle, which saw 30% price decline for BTC. This then led to “a volume climax which tends to be the precursor to a market bottom”.
Buy volume ensued after this event. “At this point, fear in the market officially met demand”, CoinDesk explains.