Celery Cryptocurrency Platform Suspends Operations, Updates Awaited

In the past few days, the internet is in chaos, thanks to the WannaCry ransomware wave. While those with obsolete and out-of-date operating systems found their computers infected, and files encrypted, a section of Bitcoin community has been facing an entirely different yet serious issue since May 4, 2017. For some, their favorite cryptocurrency exchange Celery froze its operations without offering any explanation.

It has been over a week now, and the cryptocurrency platform’s page continues to read the same message,

“All withdrawals, deposits, and orders are currently halted. For further updates, please visit our company updates.”

Anyone looking for a reason behind the sudden suspension of activities by visiting the “company updates” section is none the wiser, for they come across a different version of the same message which goes on to say,

“All withdrawals, deposits, and orders are currently suspended. Please refer to this page for all further updates.”

These messages have gotten people worried, for this is not the first time the community has come across such words. On multiple occasions, the message was a sign of something worse to come. However, users hope that the things are different this time and everything will go back to same as before, soon.

Celery’s social media accounts aren’t of much help either as the company doesn’t seem to be that active on Twitter. It is about time Celery updated the community about what’s happening, along with an estimated timeline for resumption of services.

There might be many reasons behind the recent developments, starting with something as simple as liquidity issues to serious things like problems with the regulatory authorities or even hacking incidents. However, with no official word from the platform, it is not wise to jump to conclusions but patiently wait for answers.

Meanwhile, it will be great if the Celery team decides to spare a few minutes and share an update or show at least some signs of activity so that the affected community members can breathe easy.

Reg: GoCelery.com | Image: NewsBTC

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Wow! Bitcoin traded at over $1800 late last week. To get an idea of how much exactly Bitcoin has risen, recall the fact that in February this year Bitcoin traded at its highest ever price of $1210, and we are not talking about years, it’s just two months back. Well the reasons for this are many, some analysts are attributing it to exploding prices of other cryptocurrencies while others are referring it to the war among the developers to upgrade the Bitcoin software that led investors to diversify their crypto holdings.

MCAP crushes the $7 million mark

Well, the current ongoing explosion in prices of crypto currencies has led to growth in MCAP token too. MCAP token has raised more than $7 million in just 18 days! And we have a lot more reasons for our participants to be happy.

As MCAP token invests in mining and ICOs, the current trade suggests huge profits from our portfolio of investments. According to a report published in research firm Smith + Crown April was the biggest month for ICO fundraising ever, with about $70 million raised. As an example, Gnosis was one of the most successful ICO, raised $12 million dollar worth of ether in just 15 minutes, giving it a $300 million valuation. Also, unprecedented liquidity in the crypto-to-crypto markets,  has brought a big shift from earlier phases of crypto trading, where the largest currency pairs were between a coin, usually bitcoin, and a fiat currency. This is leading to growth of other crypto currencies as well and ultimately their mining.

Specifically, Daniel Masters, director at Global Advisors Bitcoin Investment Fund (GABI), stated “That example of a successful soft fork in Litecoin has made people start to think that we could get a successful SegWit implementation in Bitcoin and that could increase capacity and move us to the next level. In the eight to 14-month horizon, my forecast would be around $4,000.”

The future is bright in crypto valley

The positive sentiments from all over the world and acceptance of Bitcoin by some governments as a currency has made the environment pleasant for investors. The debate of whether Bitcoin can be accepted as a currency by government is finally in the court of Bitcoin supporters. Two incidents are worth mentioning here:

  1. Apart from Litecoin’s SegWit activation, the Australian government also revealed a major announcement on May 11. An article entitled “Australia Will Recognize Bitcoin as Money and Protect Bitcoin Businesses, No Taxes,” starting July 1, traders and investors of Bitcoin will be exempt from goods and services tax (GST) was published by Cointelegraph.
  2. When Bitcoin price achieved its previous all-time high, there was a large difference in price of Bitcoin between the US and Japanese markets, the two largest Bitcoin exchange markets in the world. Analysts explained that the Japanese market was leading the short-term price surge of Bitcoin.

According to  Arthur Hayes, who runs the derivatives platform BitMex in Hong Kong. “The bitcoin-to-altcoin trading pairs are making up significant volume on exchanges … you have people with a lot of bitcoin diversifying into other things.

So, we are excited and if you’re an investor in MCAP you should also be as this will finally build confidence in other country governments too and platforms based on Bitcoin like MCAP will earn long term benefits.

Discount of 10% on MCAP tokens. Offers ends today.

There’s no better time than this to buy MCAP tokens and why not do it while you can enjoy a 10% discount. The discount is only available for today and the price is $3.6 per MCAP token. With all the odds in favor we are sure set to break our previous records. Analysts predicted $100 price value of MCAP by Nov’2017 and following current positive trend we are all set to achieve it. We invite you to be part of this journey.

 

 

So that’s another day done in in our bitcoin price trading efforts, and – yet again – we’ve had a pretty interesting one. When we set up our key levels this morning, we were coming into the session off the back of a temporary correction, and we were able to pick up a couple of points on a bounce. This correction now looks finished, and we have a relatively straightforward range with which to go at price this evening. So, let’s get some levels outlined with which we can attempt to draw a profit from the market on any volatility tonight. As ever, take a quick look at the chart below to get an idea of what is on. It is a five-minute candlestick chart, and it has our key range overlaid in green.

As the chart shows, the range we are using this evening is defined by support to the downside at 1715 and resistance to the upside at 1738. There is just about enough room to go at things with an intrarange approach on this one, so we’ll be in long on a bounce from support and short on a correction from resistance. Target the opposing levels and stop losses just the other side of the entry levels (a couple of dollars either way) will ensure that we are taken out of the trade in the event of a bias reversal.

Looking at our breakout strategy, if we see price close above resistance, we will look to get into a long trade towards an immediate upside target of 1750. A stop loss on the trade at 1734 defines risk nicely. Looking the other way, a break below support will have us on the lookout for a close below that level, and if we see the close, we will enter short towards a downside target of 1720. On this one, a stop loss at 1740 looks good.

Chart courtesy of Trading View

Hola!

MCAP tokens added one more feather to its cap, yes, we’ve smashed the $ 6 million barrier with an average per person contribution of $2240. We have achieved this landmark within 14 days of our launching. Our per person investment is better than most of the existing tokens and coins in the market. Analysts have even predicted a price of $ 100 for MCAP by the end of November, 2017. The whole team is humbled and we are confident that this rate of raising capital will accelerate in the course of time.

MCAP Token – A Journey from “Unknown to Known”

The MCAP journey began with a quest to build a system that will enable the nonHNI’s Have Access To Investment Opportunities. We began our journey on 27th of April. With MCAP our vision is to enable even a common internet user with little or no know how of blockchain system reap benefits from complex opportunities like mining and ICOs. We believe leveraging these benefits to masses will help foster the developing blockchain ecosystem. We crossed the $ 4 million mark on 7th of May and within next 4 days we raised another $ 2 million. But, truth be told dark clouds hanged on us sometimes but with support of MCAP community and dedicated team effort, the goal is now within reach.  The funds raised from the sale of MCAP tokens will be invested in various mining projects and other ICO’s. The uniqueness of MCAP is contributed to two main factors:

  • The dedicated team of analysts at Bitcoin Growth Fund continuously analysis the various ICOs based on more than thirty parameters such as background of the team, viability and scope of the product idea so that our investors never need to worry about their investment.
  • A proprietary algorithm to calculate which AltCoin would be most profitable to mine at any given moment based on its difficulty level, trading volume and the profit it would generate.

The Road Ahead

We’re now moving to next steps, we are building a unique trading platform. This will provide users a whole new range of options to trade with MCAP tokens. The platform will enable the participants to trade MCAP and other BGF tokens in BTC. The crowd funding event for MCAP will end on 27th May. Our customer care team is also working day and night to clear all your queries and doubts.

Soon you will find your trusted MCAP tokens on other famous exchanges too. This step will enable our users to trade in other crypto currencies using MCAP. We provided our users a 20% discount for first 10 days and currently you can avail a discount of 10% on the MCAP tokens upto 17th May.

Lastly, we extend my thanks to all the participants and supporters who have trusted on us. Without your support MCAP wouldn’t be possible.

Creditbit dev team in a recent post on Bitcoin Talk discussed CreditDAO and funds, and also elaborated upon the token value and exchanges. The update was about the progress the dev team has made on certain project tasks during their short vacation.

The first topic under discussion was CreditDAO and Funds.

The update informed the Creditbit community about the status of soon to be released CreditDAO Smart Contract. According to the update, the Smart Contract are almost on the testing stage and final deployment. Issues like borderline cases and exceptions are being dealt with and a final version of the Smart Contract will be achieved soon.

Second objective is to develop a voting distributed application (dapp), that will enable CRB Token owners to interact with voting system in a more convenient and practical way. Even though firing all functions through Smart Contract is apparently transparent and direct, it is complex to deal with for most users. Therefore, with this step, Creditbit aims to open the voting process to each member and promote accessibility and user friendliness.

Regarding funds, since all CRB Tokens in Funds will be locked and only CreditBOND rewards will be used to develop and promote. These rewards are going to be distributed among several batches with different sizes.

Developers, promoters and community builders will be given these batches of locked Tokens, enabling them to spend only CreditBOND rewards during their development and/or promotion and spend the rest of the batch at the end of locking period. Creditbit, with this step, is promoting the involvement of each developer and promoter, and their mutual trust in the CRB.

As for exchanges and token value, the CRB (ETH) value has stabilized at approx. $1 following its inclusion on some big online exchanges. Though some ups and downs are to be expected, it will increasingly get difficult to manipulate CRB trading value as the community grows bigger.

As of now, Creditbit has been listed on the following exchanges-

Crypto DAO, Livecoin, DABTC.

According to Coinmarketcap, 200,000$ – 500,000$ in value is traded (24h) each day: https://coinmarketcap.com/currencies/creditbit/#markets

The dev team is also actively communicating with other exchanges and hopes to get listed on them soon.

Bitcoin has received a lot of negative press in the past, especially due to its increased usage among cybercriminals. But now, after a global scale WannaCry ransomware attack, the narrative about Bitcoin and its connections to crime seems to have taken a positive turn. According to a recent statement by the Head of Global Cybercrime at the United Nations, the Bitcoin ransom paid by some of the WannaCry ransomware victims may provide vital clues that could lead to hackers’ identification.

The statement by UN official, Neil Walsh was published by various media outlets earlier today. The WannaCry ransomware attack was probably one of the worst cybercrime waves to take over the internet. The worm, created to exploit a particular vulnerability in outdated Microsoft Windows operating system encrypted files on computers across the world. Computer users in around 100 countries are said to be affected by the ransomware wave.
The SMB vulnerability targeted by WannaCry was exploited by the US spy agency, NSA for years. Few recent publicly available hacked files belonging to the agency shows clearly that NSA not only knew about the issues but also created tools to spy on machines with such vulnerabilities. While Microsoft released a security update to all supported devices in March, the ones that were running on unsupported versions of Windows missed out on that to become WannaCry’s targets. Since then, Microsoft has issued an emergency update covering Windows XP, Server 2003 and Windows 8 machines.
The impact of the attack was much worse than expected as many businesses, organizations and even government facilities ignored several warnings on ransomware attacks issued by the United Nations. Many of the affected parties were found operating unsupported Windows versions without bothering to update to supported ones.

Contrary to popular belief among the public, Bitcoin transactions are not anonymous, but pseudonymous at best. There are a number of blockchain analysis tools currently available in the market that allows law enforcement agencies and financial institutions to track Bitcoin transactions and even identify the parties to the transaction. These very tools are expected to be implemented by global law enforcement agencies to determine the ones responsible for spreading WannaCry.

Explaining the initiatives of the United Nations Office on Drugs and Crime with reference to recent ransomware attack, Neil Walsh was quoted by media outlets saying,

“When you demand a ransom, you have to get that money back. If you can’t cash that value or turn it into something, then it doesn’t do anything for your criminal business model. In the past month alone we have trained investigators and prosecutors in over 40 countries on how to investigate Bitcoin transactions and how to link those transactions to find an individual or entity. So, that is the risk (for the hackers) if they start to get payments coming back. It gives us opportunities to investigate and identify.”

WannaCry’s infection has been put to rest, after a security researcher found a solution involving registration of a domain, turning it into a sinkhole. Many people by then had already paid ransom in Bitcoin. The wallets receiving the ransom will be monitored by law enforcement agencies for any new activity, with the hopes of tracking the offender.

Whether the authorities are successful in catching the cybercriminal or not, at least they have learnt a lesson or two about cybersecurity, thanks to WannaCry.

Ref: SBS | Image: NewsBTC

Cryptocurrency enthusiasts will have noticed how the total market cap continues to grow. For the first time in history, it surpassed the US$55bn mark. Considering how this cap was just above US$40bn around a month ago, things have certainly changed quite a bit. Even though Bitcoin’s value is still high, it is not the determining factor for this increase either. A lot of other digital assets are gaining traction, yielding some interesting results.

Cryptocurrency Market Cap Keeps Growing

Bitcoin remains the market leader for the time being. With a US$28.88bn market cap, things are looking quite good. Every individual Bitcoin is valued at US$1, 768 at press time. That is a bit lower compared to the value last week, although a correction was to be expected. Digital assets can’t maintain indefinite value increases without some resistance along the way.

However, other digital assets are making some waves too. We now have five different assets with a market cap over US$1bn. That is quite a significant development. It also highlights show cryptocurrency investors diversify their portfolio. NEM Is the latest addition to the US$1bn club, and they may overtake Litecoin in the coming weeks.All of these shows there is room for more than just one digital asset.

Another interesting development comes in the form of Ripple being the number two digital asset by market cap right now. Ripple overtook Ethereum this weekend and has a US$800m lead as of right now. Do keep in mind these valuations tend to change a lot during the day, though. Many people see this as a surprise, although it was only a matter of time. Ripple’s blockchain – and the XRP asset – have real-life use cases. Things are heating up in Japan for Ripple, and a few Asian exchanges enabled XRP trading last week.

Diversification Remains Key

One would expect established digital assets such as Dash or Monero to be above US$1bn in market cap. Oddly enough, that is not the case, nor are they close to changing that. Both assets saw some value gains over the past few weeks. However, their market caps sit at US$630m and US$401.5m respectively. It will take a lot of money to turn them into billion-dollar market caps. Then again, anything can happen in the world of cryptocurrency.

In the end, it is important to remember things are heading in the right direction. More money is coming into the digital asset industry on a daily basis. Diversification of assets is a smart decision for any investor. There are many different offerings out there, each of which has its own appeal and use cases. Do not be blinded by what other people tell you to do, and conduct your own research at all times.

Last week, we saw some pretty volatile action in the bitcoin price. It is unlikely that this week’s action will replicate the degree to which price moved last week, but that doesn’t mean we won’t be able to profit as and when we get any up and down momentum. Price generally corrects after a large sustained upside run like the one that we have seen, and over the weekend, we saw what looks to be the start of said correction. Whether it will continue, however, remains to be seen. We may have already seen the bottom, and if this is the case, early this week, we should see a continuation of the overarching bullish momentum.

Anyway, whatever happens, we are going to be ready with our intraday strategy so as to ensure that we can draw a profit from the market sent when price moves and in whatever direction.

So, with this in mind, and as we head into the early morning session out of Europe today, here is a look at our key levels, and where we intend to get in and out of the markets according to the rules of our intraday strategy. As ever, take a quick look at the chart below before we get started. It is a five-minute candlestick chart, and it has our range overlaid in green.

As the chart shows, the range we are looking at today is defined by support to the downside at 1682 and resistance to the upside at 1718. Breakout only for now, so we’ll be in long on a close above resistance towards an immediate upside target of 1730 and short on a close below support towards a downside target of 1670. A stop loss just the other side of the entry on both positions will ensure we are taken out of the trade in the event of a bias reversal.

Charts courtesy of Trading View

Scaling Bitcoin remains a very contested topic of discussion right now. Over the past two months, some people started pledging support for the UASF. Given the recent success of other assets implementing SegWit, it is evident something needs to happen. A chain split is still a possibility for Bitcoin, although it is best to avoid that altogether. Unfortunately, UASF support still only sits at 6%.

Scaling Debacle Continues

The big question on most people’s minds is whether or not Bitcoin will fork. Although many people dismiss the possibility, a chain split can still occur. It is evident a scaling solution will need to activate on the network. So far, SegWit has seen far less success than most people would like. Bitcoin Unlimited, on the other hand, has a similar level of support. Only one of these solutions can activate, though, yet it seems unlikely either will do so.

Quite a few other digital assets have activated SegWit on the network so far. Litecoin is the first major one to do so. Ever since that time, the value of LTC has increased by quite a margin. It is unlikely activating SegWit will multiple the Bitcoin price, although it is not entirely unlikely. As we have seen late last week, network congestion is still a big problem. Solving that problem, as well as introducing a malleability fix, can send the Bitcoin value upward.

One possible solution to end this debate once and for all is the UASF. This soft-fork would activate SegWit on the network. It requires majority network support to do so, though. After nearly two months, the USF only has 6% support, which is insufficient. A lot of work needs to be done if this scaling solution wants to activate on the network. Running nodes signaling support is one thing, but it has little practical value right now.

UASF Support Remains Incredibly Low

According to Luke Dashjr, there are two options on the table. Either the UASF activates through community support, or Bitcoin needs a PoW change. This latter option has been discussed a few times in the past. It seems highly unlikely that change will come to pass, though. Gaining support for the user-activated soft fork seems highly unlikely as well at this stage. One could argue a lot of people are seemingly content to maintain this status quo indefinitely.

These are some troubling times for Bitcoin, to say the least. Although this scaling debate has not affected the price in a negative manner, a split certainly would. Avoiding such a damaging event needs to be the top priority right now. Whether or not the UASF is the right solution to do so, remains to be seen, though.

Hello and welcome to News BTC’s Market Outlook May 15.

DASH/USD

DASH continue to find buyers on the dips for the Friday session, and continues to show that the $90 level looks rather supportive. Because of this, I remain bullish and have no interest in shorting this market. Given enough time, I believe that the market will then reach towards the $100 level, and then eventually the $105 level. It might be choppy, but it certainly looks as if the buyers are in control.

LTC/USD

LiteCoin fell slightly during the day on Friday, but found enough support just at the $28 level to turn things around and show signs of support again. I believe that the market will eventually go higher but we may have to grind for a while to pick up momentum and buying pressure in a market that although very positive, certainly seems to be trying to consolidate in this vicinity.

Thanks for watching and see you again tomorrow.