Price Action
| 24 hours | 11.77 | $10.36 |
| 7 days | -2.95 | $-2.99 |
| 1 month | 0.00 | $0 |
Trend
The bitcoin SV weekly trend is mixed. The previous weekly trend downwards has been broken with today’s surge upwards, and a new higher daily high has been recorded. A new pattern is forming. The pattern is currently bouyant.
Today’s volume is light to moderate compared to typical daily volume over the last several weeks.
[Trend is "mixed" when the weekly contains both green and red daily price candles, price movement up or down is significant, and there is no clear weekly price direction.]
Chart
Tap / click to zoom:
Remarks
In general ICO’s are very risky and have a poor track record. Asset chain splits such as $BCHSV may be risky too. When $BCH split from $BTC the result was a child price which was a fraction of the pre split parent price.
Today we are witnessing upwards volatility of the $BCHSV child.
Technicals
Moving Average Convergence Divergence (MACD)
The MACD on the fifteen minute chart is bearish.
Exponential Moving Averages (EMA)
| 7 day | $100.31 |
| 25 day | $98.93 |
| 99 day | $93.58 |
It isn’t clear where the long term 99 day EMA data is coming from because the asset is less than a month old. On the hourly chart both the short and medium term indicators are pointed upwards, which is a bullish sign.
Relative Strength Index (RSI)
The Relative Strength Index on the one hour chart is 66.3. This is a neutral state.
The RSI in the fifteen minute period – and right through to the six hour period – is in a neutral state.
The one hour RSI has recently come down from an oversold state, and is sloping upwards.
[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]
bitcoin Price Modifier
The 24 hour bitcoin change is -3.57%. This may exert a bearish influence on bitcoin SV today.
bitcoin SV $BCHSV Price Outlook
the bitcoin SV $BCHSV price outlook is bullish
if the price finds acceptance at higher levels the immediate resistance prints at $103.50
if the price finds acceptance at lower levels the immediate support prints at $97.00
The author does not hold bitcoin SV $BCHSV at the time of writing.
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Cryptocurrency exchange Wex, successor of the infamous BTC-e, has a new owner. Dmitry Havchenko, a former Ukrainian entrepreneur turned separatist fighter, has reportedly bought the coin trading platform through a family member. He now wants to restore it and also to track down the lost “Vinnik’s treasure.”
Also read:
Wex Sold to Former Pro-Russian Fighter in Ukraine
Wex’s operator, Singapore-based World Exchange Services, has been officially acquired by Havchenko’s daughter, 29-year-old Darya, BBC Russian Service reported. Local authorities did not allow her father to register the company under his name, probably because of his participation in the armed conflict in the region of Donbass.
Wex has been practically out of service for months, with reports of very limited activity and only a few coins available for trading and withdrawal. A number of users have already informed Russian police they are unable to withdraw their funds from the platform. Wex recently its .nz domain and after changing its web address several times is currently hosted on another domain, wex1.in.
The exchange inherited BTC-e, once the largest cryptocurrency trading platform in the Russian-speaking world, which was relaunched under the Wex name in mid-September 2017. Toward the end of last year, its daily volume reached $80 million and it was among the top 20 digital asset trading platforms in the world, according to data from Coinmarketcap, quoted by RBC.
World Exchange Services, reportedly registered by one of BTC-e’s biggest clients, Belarusian native Dmitry Vasiliev, kept BTC-e’s interface and user accounts, although it has denied any connection with the previous operator, Seychelles-based Canton Business Corp. According to some reports, one of the supposed founders of BTC-e, simply known by his “admin” nickname, has also been involved in the rebranding. In the summer of this year, Havchenko made his first attempt to acquire Wex but the deal failed.
According to U.S. authorities, BTC-e has been used to launder billions of dollars, including cryptocurrency stolen in the . Its suspected co-owner was arrested in Greece last summer and is awaiting the outcome of his extradition trial. He is wanted for a number of crimes in the U.S., France and his native Russia, but has always maintained his innocence, claiming he was only consulting BTC-e. Recently, Vinnik went on a hunger strike to protest his treatment by the Greek judiciary.
Tracking ‘Vinnik’s Treasure’
Dmitry Havchenko
Dmitry Havchenko, also known by his wartime call sign “Moryachok,” now wants to restore Wex and establish its headquarters in Crimea, the Autonomous republic which seceded from Ukraine and joined the Russian Federation. He told the BBC he plans to use the platform to provide financial support to other unrecognized pro-Russian entities in the post-Soviet space, including the two self-proclaimed republics in Eastern Ukraine, Donetsk and Lugansk, in Moldova, and Abkhazia and South Ossetia in Georgia. “Our goal is to fight the domination of the dollar,” Havchenko declared.
The new owner also promised to restore the funds lost by Wex users. “The main task now is to return the missing crypto assets. A whole team of lawyers and collectors will be working to achieve that,” he said speaking to the BBC. Havchenko hinted he could also seek help from Russian law enforcement agencies. However, he declined to give any timeframe as to when the exchange might reopen.
Another goal set by the entrepreneur is to track down the digital funds that disappeared after BTC-e went offline, the so-called “Vinnik’s treasure.” He was referring to money accumulated from exchange fees collected by the platform as well as users’ funds that were not withdrawn after its demise. The BBC is quoting different estimates of the total amount which range from $150 to $500 million.
According to the report, BTC-e was working with at least 15 entities registered in different offshore jurisdictions, from Cyprus to Belize, and using a number of bank accounts around the world, including one with the National Investment Bank of Mongolia. Many have been searching for Vinnik’s treasure, including the U.S. government. In 2017, the Treasury Department’s Financial Crimes Enforcement Network decided to fine the exchange $110 million and Vinnik another $12 million for various violations of U.S. anti-money laundering laws.
What are your expectations for the future of the Wex cryptocurrency exchange? Share your thoughts on the subject in the comments section below.
Images courtesy of Shutterstock, Smartmockups, YouTube.
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ZILLA Events
ZILLA users can now search for blockchain conferences and get tickets using the cryptocurrency directly from their ZILLA wallet. There are two features that set the ZILLA event platform apart from other ticketing services such as Eventbrite, and Peatix.
When users check-in to events, they can receive an airdrop of exchange-listed tokens.
Receive Point Coins when buying tickets.
What are Point Coins?
Point Coins are loyalty points on the blockchain. Point Coins will do to events what ICOs did to crowdfunding. Point Coins are unlisted, and are not intended as an investment, rather a gamification method to incentivize users to engage, trade, and learn about cryptocurrency without the fear of mishandling or losing cryptocurrency that are worth money.
Benefits of Point Coins:
Attendees get Point Coins automatically sent to their wallet when purchasing tickets.
Gain access to exclusive VIP after parties with Point Coins.
Tweet and promote the event on social media in order to get more Point Coins.
Get Point Coins when attending booths at events.
Prize give away (hardware wallets, mining machines, etc) for attendees with the most Point Coins.
Point Coins are a low risk, easy way for attendees to learn about cryptocurrency.
What Point Coins are not: Point Coins are not intended to be an investment. Their purpose is to be given away at events for free, to be educational, and to be used as a method to engage attendees.
With Point Coins, event goers will be more engaged and event organizers can issue and incentivize them with loyalty Point Coins. ZILLA is now available on both App Store and Google Play.
About ZILLA
is a multi-cryptocurrency wallet, curated ICO marketplace, and now blockchain event platform. Users can compare, evaluate and participate in ICOs after completing KYC. So far, hundreds of ICOs and tens of thousands of people have registered for ZILLA in the US, Japan, China, and Korea.
