Bitcoin Today: ERC20 menace
Price
A drop below the Bullish Trend Line and moreover a 9000.0 support level send the market into a deeper correctional pattern. Nonetheless, volume distribution above the 8800.0 level shows that there is a lot of buyers eager to pay close to 9000.0 prices, believing in further growth.
8650.0 – minor support for the possible reversal and come back above the 9000.0 level. 9000.0 level is an important resistance level for now and if this level is not overcome in the nearest term – the market could go lower.
Also, traders should consider that tomorrow is the last trading day for the BTC futures, which could also cause additional volatility and sell-offs.
Today forecast
Trading in 8650.0 – 9250.0 zone.
Latest news
A drop below the Bullish Trend Line and moreover a 9000.0 support level send the market into a deeper correctional pattern. Nonetheless, volume distribution above the 8800.0 level shows that there is a lot of buyers eager to pay close to 9000.0 prices, believing in further growth.
8650.0 – minor support for the possible reversal and come back above the 9000.0 level. 9000.0 level is an important resistance level for now and if this level is not overcome in the nearest term – the market could go lower.
Also, traders should consider that tomorrow is the last trading day for the BTC futures, which could also cause additional volatility and sell-offs.
Today forecast
Trading in 8650.0 – 9250.0 zone.
Latest news
- Exchanges Suspend ERC20 Token Deposits After Discovery of Smart Contract Bug. Ethereum’s smart contract bugs just keep on coming. Exchanges including Okex, Poloniex, Coinone, and Hitbtc today suspended deposits of ERC20 tokens following the discovery of a batch overflow bug written into the smart contracts governing numerous coins. The news comes in the same week that the ethereum community voted against restoring the lost ether that was locked up in the Parity smart contract bug last year.
Okex announcement:
“We are suspending the deposits of all ERC-20 tokens due to the discovery of a new smart contract bug – “Batchoverflow”. By exploiting the bug, attackers can generate an extremely large amount of tokens, and deposit them into a normal address. This makes many of the ERC-20 tokens vulnerable to price manipulations of the attackers.” - Nasdaq Might Trade Crypto. CNBC reported. “Certainly Nasdaq would consider becoming a crypto exchange over time,” Nasdaq CEO Adena Friedman told CNBC. “If we do look at it and say, ‘it’s time, people are ready for a more regulated market,’ for something that provides a fair experience for investors.” Still, regulatory issues around cryptocurrency need to be worked out before Nasdaq would start a cryptocurrency exchange.
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