NEWS

BitConnect's Trevon James Has a Fortune on Steemit
"Trevon James, one of the most famous promoters of the BitConnect pyramid scheme, was also a large-scale account holder on the blockchain-powered social network Steemit. As of February 18, his account was worth upward of $1 million, due to the high level of the STEEM Power asset."

You can now buy and sell bitcoin and ethereum without paying any commission on Robinhood — but you'll have to wait in a 1 million person line
"Commission-free brokerage site Robinhood, recently valued at $1.3 billion, is now offering its users the chance to buy and sell cryptocurrencies like ethereum and bitcoin, with zero transaction fees. The news was announced via a blog post. But if you want to make a commission-free cryptocurrency trade on Robinhood, you'll need to get in line: Since the feature was first announced in January, interest boomed. The service is currently tallying the waitlist to get access to the cryptocurrency trading feature at more than 1 million prospective customers."

Elliott Management: Cryptocurrencies Are a Brilliant Scam
"The vastly different opinions on Bitcoin and other cryptocurrencies often lead to some interesting discussions. Most financial experts do not take kindly to this new form of money, though. Elliott Management, a well-known multi-billion dollar hedge fund, claims cryptocurrencies are a “brilliant scam”."

BITCOIN

Bitcoin drops below $10,000 again, hitting lowest in a week
"Bitcoin futures break below $10K. Bitcoin is struggling to stay above $10,000. The cryptocurrency fell below the psychologically key level Thursday, failing the latest attempt to recover from a sharp sell-off."

LITECOIN

Litecoin Cash Has Forked But It's Hardly Trading
"Call it a slow start. A plan to launch a new cryptocurrency by forking the litecoin blockchain went off without a technical hitch over the weekend, but at press time, the market isn't exactly embracing the new coin."

CARDANO

Cardano's Ouroboros: Proving Proof of Stake can work in the wild
"At the heart of Ouroboros is a way of ensuring randomness when it comes to electing slot leaders. There's a kind of lottery whereby any stakeholder can become a slot leader, but an important idea of PoS is that the more stake a stakeholder has, the more chances they have to be elected as a slot leader."

NANO

Nano Price Surges by 19.3% as Cryptocurrency Markets Crumble
"All cryptocurrency markets continue to suffer from massive bearish pressure as of right now. Virtually all currencies in the top 25 are suffering from steep losses, with the exception of Nano. For some reason, the nano price is up by a whopping 19.31% during this troublesome time, effectively pushing its value well past $9.25 in the process."

MARKET OVERVIEW

As expected from the TD Sequential Indicator Sellers were waiting at the $11,000 level to drive the price of Bitcoin back down. It was such a convincing move that a new Negative TD Sequential Count has begun. This would indicate that there is a high probability that we will see a retest of the $8030 level and if Buyers can't regain control at that level expect to see Bitcoin Price retest the $6400 level.

How will this effect altcoins? Since most of the altcoins are still pegged to Bitcoin Price you would expect to see them drop as well; although some of the stronger coins might not see as big of a percentage drop. If you can identify coins that do not lose as much percentage value as Bitcoin then it would be an interesting exercise to start tracking those coins and see if they continue to stand on their own.

This article is intended for educational purposes only and not meant to convey any financial advice. Trading can be a risky venture and personal due diligence is required.