A Bitcoin Was Gifted to Kim Kardashian

Matthew Roszak, the co-founder of Bloq and various cryptocurrency projects, gave a Bitcoin to the American reality show star Kim Kardashian at the charity event in Texas Hold’em If Only, which he told his subscribers about on his Twitter:

Kardashian published a photo of the gift on her Instagram Stories captioning it with: “We moved onto Bitcoin!”. We remind you that 114 million people are subscribed to the account of the socialite.

kim kardashian bitcoin

Matthew Roszak also mentioned the Kardashian family in his presentation at a conference on technology, entertainment and design in San Francisco. According to Roszak, the famous family will be able to tokenize and create their own economy.

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No Panic: Crypto Community Reaction on Bitcoin Collapse

The beginning of 2018 pleased the crypto community much more, than current week. This year, Bitcoin set a positive record on January, 7th. According to CoinMarketCap, when the rate of the first cryptocurrency flew up to the mark of $17 527 for one coin. The Anti-record was settled this week, November, 20, with the rate of $4 279. As a result, within 11 month, Bitcoin fell by 75%.

Today, November, 21, at the moment of 11:30 UTC, Bitcoin rose slightly – up to $4 665 for one coin. Despite the drop in prices, BTC is still confidently covers more than half of the crypto market in terms of capitalization,
and $ 81,114, 287, 644 in total.  

Not only the Bitcoin rate has been a victim of collapse. Even Ethereum  has seeded his 2nd position by Ripple capitalization. The crypto industry has become more and more discussed in a last few days.  But incredibly, the panic within the community is mild, and some individuals are treating the situation inside the market  with some kind of irony. You may learn about it from different crypto enthusiasts Twitter profiles.

CoinShare security manager Meltem Demirors, noticed the possibility of a broad cultural shift for the industry in front of depreciation:

Binance CEO Changpeng Zhao, commented the collapse of BTC in his Twitter:

Also added:

The entrepreneur Andreas Antonopoulos, who is regarded in the crypto community as a preacher of cryptophilisophy, in his Twitter gave recommendations about the current market situation:

The trader and publisher of the weekly Factor Service Peter Brandt, shared his observation about cryptocurrency liquidity:

American trader Jacob Canfield, in his Twitter gave a comic forecast for the Bitcoin price:

In general, the crypto-community is divided into two camps : the first one blames Bitcoin Cash hardfork, and the second one is convinced that such low drop is a common economic phenomenon and we just have to wait. For example, Fundstrat Global Advisors analyst Tommy Lee, believes that Bitcoin will grow up to $15 000 by the end of 2018.

We want to remind you, that previously Tom predicted the rate’s growth  by $25 000, but in July, he suddenly changed his mind and decreased the rate till $20 000.

Tom Lee: Bitcoin Might or Might Not Reach $25K by the End of 2018

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What Cryptocurrency Exchanges Own the Wealthiest BTC Addresses?

It is quite obvious that a single person can not own the richest crypto wallet, it obviously has to a company, in our case, a crypto exchange.

5 major digital asset exchanges currently possess around 3.5% of the total amount of BTC. At the rate of approximately $5300 per BTC in monetary terms, it is almost 600 thousand BTC (more than 3 billion dollars).

Let’s find out who made it to the top-5.

1. Binance, which is also #1 in the CoinMarketCap rating in terms of trading volumes. It owns over 141 thousand BTC (almost 750 million dollars).

2. Bitfinex. #3 on the CoinMarketCap and holds almost 139 thousand BTC (around 737 million dollars).

3. Huobi. This exchange ranks 4th on the rating according to its trading volume and owns a bit more than 108 thousand BTC (almost 575 million dollars).

4. Bittrex. Being only the 32nd on the CoinMarketCap, Bittrex managed to become the 4th richest BTC holder with its approximately 107 thousand BTC (around 570 million dollars).

5. Bitstamp. Last, but not least is Bitstamp, #15 on the rating. Almost 98 thousand BTC (close to 520 million dollars) belongs to this exchange.

Here are the richest crypto exchanges holding Bitcoin. As for the famous crypto personalities who can boast of their BTC wallets, we can’t help mentioning Roger Ver and the Winklevoss twins. These two own $11 million worth of Bitcoin.

We remind you:

Founders of Alibaba, Bitmain, Binance, Huobi, OkCoin Got On the List of 2018 China’s Richest Businessmen

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UK Is Highly Likely To Ban Cryptocurrency Derivatives Due To Market Volatility

The United Kingdom adopted an attitude of severity towards cryptocurrency long ago. As the situation is quite pitiful on the market right now, the Financial Conduct Authority (FCA) in the UK decided to grapple with cryptocurrency derivatives that seem to be pretty unpopular among UK authorities.

The representative of the FCA, Christopher Woolard, claimed that they were discussing a possibility to ban crypto contracts-for-difference (CFDs), including options, futures, and transferable securities.

Woolard said:

“We’re concerned that retail consumers are being sold complex, volatile and often leveraged derivatives products based on exchange tokens with underlying market integrity issues.”

The current market volatility may alienate people from crypto investments, and may force authorities to ban or put big limitations on using cryptocurrency. Nevertheless, we want to remind you

Investors Lost $135 Million Due To OKEx’s Decision To Close BCH Futures Too Early

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John McAfee Wants the Crypto Community to Calm Down

John McAfee, who undoubtedly has lots of experience on the crypto market seems slightly annoyed with the panic that arose over the price collapse of cryptocurrencies.

McAfee believes that the phenomenon of bear market is quite a common state which happens from time to time, but eventually goes away and gives way to bullish trends. He also stated a couple of reasons which, in his opinion, might have caused such a downtrend, including inadequate crypto regulation and traders’ uncertainty.

The crypto enthusiast also mentioned the fact that the crisis might end, as the forces ruling it leave. Can it be connected with the recent Jihan Wu vs. Craig Wright scandal?

Crypto Wars: Jihan Wu vs Craig Wright, Who Gets McAfee’s Support?

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Bitcoin Cash CV Goes Wild and Reorganizes Its Own Blocks

The recent hard fork of Bitcoin Cash has caused a lot of noise in the crypto community. Some people even blame the collapse of the crypto market on this event. Moreover, as most experts predicted, the fork didn’t proceed smoothly and keeps causing confusion.

One of the newly emerged coins, Bitcoin Cash CV, developed by CoinGeek and supported by Craig Wright, conducted a reorganization of its blocks without any assistance from outside. According to multiple specialists, this is a major violation of the way blockchain functions.

Due to such a frivolity, Bitcoin Cash CV might soon be delisted from major crypto exchanges.

We remind you:

Bitcoin Cash ABC Was Attacked by an Enormous Amount of Spam

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Why None of Positive Forecast Has Come True: Three Main Reasons for Bitcoin Collapse

The stability of Bitcoin’s rate and other cryptocurrencies is a big question. At the moment , everything  that cryptocurrency does stably is rushing through the Hell into suspense.

Infernal flight started on November,14 at 11:34 UTC. At that time, BTC rate was around $6 365, and ETH was $206, according to CoinMarketCap.

Source: https://coinmarketcap.com/

At the time of writing this article, November, 20 at 11:00 UTC, the same resource updated the data to an even more disastrous rate: the cost of one BTC is $4 459, and ETH $132.

At the same time, the Coin 360 monitoring resource shows a BTC rate of $4 460, and an ETH $131.

Source: https://coin360.io/

Apparently, the collapse of the coin rate is not going to stop, and this is clearly indicates, that a fateful event happened in the crypto industry, which collapsed the market.

Due to specifics of cryptocurrency, it is impossible to determine now what exactly the main cause of  the falling prices. However, The Coin Shark conducted its own, independent investigation and identified three most logical versions of why crypto “tends to zero”.

So, the reasons for the collapse of the market can be:

1.The split of Bitcoin Cash into BCH SV and BCH ABC;
2.The refusal of the China authorities to provide the miners with the cheapest electric power;
3.The theft of 600 BTC from the Bitmain company.

Now, let’s consider each reason in a more detailed way.

1. The split of Bitcoin Cash hard fork

It is possible, that the sudden collapse of the market is a consequence of the Bitcoin Cash hard forks. History has proved once again, that serious network updates provoke the panic within the crypto community. Especially among investors, who fitfully begin to sell their coins. Panic attacks are not so unprecedented, but rather very thoughtful. If during the fork there is a malfunction, it is guaranteed to have an impact on the future of the crypto market.  

Presumably, the cause of today’s “successes” of cryptocurrency is a backdoor, that hackers manage to discover and made a hashrate diversion from BTC.

We want to remind you, that now Bitcoin Cash is divided into Bitcoin ABC and Bitcoin SV.  

In this regard, Australian programmer Craig Wright wrote on his Twitter:

The founder and CEO of BKCM, Brian Kelly, also considers that Bitcoin Cash is involved into collapse of BTC rate and and other cryptocurrencies. He shared this during an interview at CNBC Fast Money.

Most likely, this pseudo-war between BCH SV and BCH ABC in the nearest future will cause a decrease of hashrate in BTC, which in its turn, will reduce the network speed.

“People are concerned that both Bitcoin and Bitcoin Cash markets, their networks might slow down, they might not work as well, the software upgrade may not go through or if it does go through, we will end up with some chaos. People started selling, that triggered stops, everybody got concerned. The entire market settled down. In my view, a very short-term event”,  – explained Kelly. 

 2. Insufficient speed of Bitcoin network

The authorities of provinces of Xinjiang and Guizhou stopped to provide the Chinese miners with cheap electricity. Now, the miners are forced to look for an alternative method of mining Bitcoin and other cryptocurrencies.

Because of this, main mining facility, located in China, suspend their activities in order to find an alternative resource for mining cryptocurrency. This caused the decrease of Bitcoin hashrate network by almost 20%.

3. Theft of 600 Bitcoins

A major Chinese company, Bitmain, has announced that its account has been hacked at Binance crypto exchange. At the time of the hack, more that 600 BTC were stolen – which is about 2.7 million dollars at the time of writing this article. The hacker has not been found yet, but it is known that he tried to increase the speed of a little-known cryptocurrency MANA with the help of this money.

This kind of news has already changed the mood of the market, while reducing the rate. It’s likely, that this particular incident could undermine Bitcoin and other digital coins. 

Why none of the positive forecast did not come true?

It is impossible to predict the cryptocurrency rate in advance, as it can be done on the usual market for fiat. On the crypto market, we see the outcome and only than the reason. For example, the dollar increases after raising discount rate in the USA, but the cryptocurrency doesn’t. Since, its rate doesn’t depend on the ordinary economy and on decisions of the authorities.

The cryptocurrency rate is not backed up by anything. It depends  only on supply and demand. Therefore, it is impossible to predict the behaviour of the rate in advance. For instance, exactly one year ago, on November 20, 2017, the Bitcoin rate was $8 039.

Source: https://coinmarketcap.com/

After just one month, the rate set the first historical record – $19 440.

Source: https://coinmarketcap.com/

Based on the last year’s situation on the crypto market, it cannot be stated, that this year it is going to be the same. This market is sensitive and unpredictable.

In relation to the worsening situations, all cryptocurrency holders are worried about – “What to do next?” – that’s a good question. But unless the true  reason of the collapse of the rate is revealed, there will be no exact answer. As for now we can only guess how the events will unwrap.

For example, a financial analyst, Alexey Polovinkin, in an interview with OBOZREVATEL, shared the view, that the rate of the world’s most massive cryptocurrency by capitalization will increase by $40 000 for one coin.  The expert explained, that Bitcoin will grow due to the possible legalisation of cryptocurrencies, which will have an effect on institutions and investment companies. According to Alexey’s point of view, they will start considering the entering of cryptocurrencies in the marker in a large amount.  We want to remind you, that Polovinkin predicted the growth of Bitcoin in 2017.

Also, a venture investor Tim Draper is trying to make a good forecast, reports The Daily Hodl.  The investor is confident that in the 2022 the price of Bitcoin will rise to $250 thousand. While, an investment banker and millionaire Mike Novogratz, makes more modest forecasts, stating that the rate will reach only $10 thousand.

Not all sharks of the crypto world are optimistic about the future of the market. In this regards, CEO of the BitMEX exchange, Arthur Hayes, state that the next 18 months will be not the best period for cryptocurrency. He is confident that the interest in digital money will decrease, which will affect the rate of coins.

Vinny Lingham, CEO of the American startup Civic, state that Bitcoin had no chance of existence. Even if his rate rises , he will still fall to $100 per one BTC.


“Do i think we’ll have another bubble? Probably, because people just don’t learn. When it hits $20,000 again, it will fall back to $100 or something like that”, – said Lingham.

As you can see, the estimates are diverse, and there is no clear idea about the upcoming growth or reduce. Therefore, any forecast should be reasonably judged. Till then,  cryptocurrencies continue their hellish way to a stop “Anti-record rate of 2018”.

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