Market Update 12.19.18 – Supposed BTC Millionaire Arrested in Hong Kong

| Publish date: 12/19/2018
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Supposed BTC Millionaire Arrested in Hong Kong

A Bitcoin (BTC) millionaire was arrested in Hong Kong for “making it rain cash” in the city’s streets. On Sunday, in one of the poorest neighborhoods in Hong Kong called Sham Shui Po, a large amount of HK$100 were thrown off the roof of one of the buildings.

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A local cryptocurrency enthusiast and supposed BTC millionaire, Wong Ching-kit is suspected to be behind this stunt. Ching-kit also owns a website called Epoch Cryptocurrency. He posted a video on Facebook’s Epoch page, where he is captured asked whether anyone believed that money could fall from the sky. Seconds later, money started falling from above.

Read the full story here.

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BTC’s Price Up over 10% on “All-Time High” Anniversary

The price of Bitcoin (BTC) suddenly jumped up by over 10% in the last two days, reaching an 8-day high on the anniversary of its “all-time high”. For weeks now, the crypto has been struggling against oversold conditions in the market, falling to a price which was over 83% below its all-time high.

Finally, BTC has now bounced back and seems to be validating the oversold readings on the 14-week RSI (Relative Strength Index). The crypto also looks to be establishing a bullish reversal on the 3-day chart.

Read more of the details here.

Irish Court Ruling Breaks New Ground

The Irish High Court ruled that €25,000 worth of cryptocurrencies held by a man who is in jail are to be considered proceeds from a crime. According to the Irish Times, the court broken new legal ground with this ruling when considering the case of the man on trial, Neil Mannion.

Mannion is reportedly serving a six-and-a-half-year prison term for drugs offences since 2014. Mannion had admitted to selling drugs on the dark net via Silk Road as well as Agora. The Irish Criminal Assets Bureau (CAB) had withdrawn his revenues in BTC as well as fiat currencies in 2016, however, the agency also discovered ETH worth €25,000 in another account.

Read more here.

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Total Market Cap: Dec 19

The crypto market continues its recovery, with its capitalization going up to $121.55 billion and trading volumes also rising to $19.17 billion.

Bitcoin Price Analysis: Dec 19

Bitcoin also continues to rise, with its price now at $3747.09, which is a 6.49% hike in the last 24 hours. The capitalization of the asset is now $65.31 billion and trading volumes are at $6.32 billion.

Ethereum Price Analysis: Dec 19

Ethereum has gone up by 8.68% to a token price of $102.10, and its capitalization is now $10.60 billion. Trading volumes have risen to $2.48 billion.

State of the Top 10 Cryptocurrencies: Dec 19

The gains in the crypto market continue with all but Tether in the top ten list of cryptocurrencies jumping up in the last 24 hours. The biggest jump has been seen in Bitcoin Cash, whose price shot up by 24.85%, followed by TRON, whose price jumped up 11.43% and Ripple, which has gained 9.62%. Tether is down by 0.12%.

  • Bitcoin’s price is $3747.09, rising by 6.49%. The market worth of the virtual currency is $65.31 billion.
  • Ripple’s price is $0.363369, rising by 9.62%. The market worth of the virtual currency is $14.81 billion.
  • Ethereum’s price is $102.10, rising by 8.68%. The market worth of the virtual currency is $10.60 billion.
  • EOS’s price is $2.58, rising by 6.14%. The market worth of the virtual currency is $2.33 billion.
  • Stellar’s price is $0.117482, rising by 7.87%. The market worth of the virtual currency is $2.25 billion.
  • Bitcoin Cash’s price is $111.96, rising by 24.85%. The market worth of the virtual currency is $1.96 billion.
  • Tether’s price is $1.01, slipping by 0.12%. The market worth of the virtual currency is $1.87 billion.
  • Litecoin’s price is $30.24, rising by 5.68%. The market worth of the virtual currency is $1.80 billion.
  • Bitcoin SV’s price is $83.78, rising by 6.18%. The market worth of the virtual currency is $1.46 billion.
  • TRON’s price is $0.015836, rising by 11.43%. The market worth of the virtual currency is $1.05 billion.
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