📌 Bullish BTC Charts, Kik Shuts Down, and Don't Sleep on Bakkt

MUST READS  Bitcoin's Monster Drop Has Indicators Warning of More Pain Ahead Many crypto investors are still struggling to explain the sudden plunge in digital assets this week. A look at technical indicators doesn't paint a pretty picture going forward.   Despite the Slow Start, Don't Sleep on Bakkt's Bitcoin Futures Bakkt launched its physically-settled Bitcoin futures this week, providing institutional investors with a new way to bet on the expected price of Bitcoin in the near term. Many were expecting this announcement to fuel prices into a new bull run... instead, prices started to do the opposite. A few things to clear up...   The recent price dump doesn't really have much to do with Bakkt. There's a lot of different ideas floating around as to why charts are red.   It's a little too early to claim Bakkt was over-hyped. In the big picture, Bakkt gives institutions a venue to hold and trade PHYSICAL Bitcoin. The doors just opened, so we can still expect institutions to trickle in. The "smart" investors aren't going to come running in all at once. Although volume looks like a flop (so far), let's give it some time...   Weekends are for Altcoins When It Comes to Crypto Market Gains Bitcoin's long been king of the cryptosphere. But altcoins could be catching up while most investors are taking a breather, according to a recent study.    SPONSORED  This Tiny $1 Pot Stock Next to Be Bought Out for Big Dollars? Over the last few months, this cannabis firm has been quietly making a series of significant announcements and financial moves. In fact, some investors were so impressed; they just poured $100 million into this tiny company. If you've got a little cash set aside for just the right opportunity, then this stock may be the one you've been waiting for.    DEEP DIVE  Five INSANELY Bullish Charts for Bitcoin With all the bearish talk going on lately, we simply couldn't resist. Props to @JamesTodaroMD on the timing...   ING: People Who Know The Least About Cryptocurrencies are the Most Excited About Them ING released a report with a couple surprising conclusions. Apparently people are the most optimistic about crytpoassets when they have a little, but not too much, experience. Full report is here.   This Cryptography Pioneer Is Building A Cryptocurrency From The Ground Up Silvio Micali, an MIT professor and lifetime cryptography researcher is building a public blockchain from scratch after raising over $260 million. Named Algorand, it aims to compete with Ethereum using a new technology called Pure Proof-of-Stake (PPoS).    SPONSORED  [OFFICIAL REPLAY] Teeka Tiwari's "5 Coins to $5 Million NOTE: This exclusive replay link will expire in less than 48 hours. Click here to watch the replay now.    REGULATORY FRONT  No More Kik Means All Eyes on Kin Popular Canadian messaging app Kik is shutting down. Yesterday, Kik's CEO Ted Livingston announced that the company would be closing Kik and laying off 80% of staff as it shifts focus to Kin, its cryptocurrency business that is currently the focus of a SEC lawsuit. "After 18 months of working with the SEC the only choice they gave us was to either label Kin a security or fight them in court. Becoming a security would kill the usability of any cryptocurrency and set a dangerous precedent for the industry. [So] we made the decision to step forward and fight."   Privacy-Oriented Cryptocurrencies are Being Delisted from Exchanges Across the World Cryptocurrencies such as Monero, Zcash and Dash, which can to varying degrees obfuscate transactions, are making it harder for exchanges and custodians to comply with fresh international guidelines. Demands are stemming from the Financial Action Task Force (FATF), an organization that comprises 37 countries and is led by the United States to prevent illicit financing. FATF will conduct a review of how its member countries are implementing the guidance in June 2020. Lack of compliance could lead to the closing of exchanges and penalties. Already, Coinbase, OKEx, Upbit and other exchanges have begun delisting.    TWEET OF THE WEEK  Other Articles You May Enjoy Here is a quick-and-dirty explainer thread on the overnight lending market that the Federal Reserve just bailed out   Binance.US to start accepting deposits for Stellar, Cardano, Ethereum Classic, BAT and 0x   All 7-Eleven stores across the Philippines now sell Bitcoin   Qiao Wang: Ray Dalio and Bitcoin   🎥 [WATCH]: Su Zhu of Three Arrows Capital on BTC lending markets   What Google's quantum computer means for Bitcoin   Bancor's $2.6M Ethereum airdrop will land in December   Sephora, Decathlon, Foot Locker… France's biggest retailers can accept Bitcoin in 2020   Filecoin prepares for launch, two years after $257M ICO   Bithumb announces revamped platform with new fiat-to-crypto options   Crypto venture firm 1confirmation announces new $45M fund backed by Peter Thiel   Circle puts research arm on pause The CoinSnacks weekly digest is a manually curated newsletter that delivers fresh content covering cryptoassets and the evolving blockchain community for investors around the world. 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September 25, 2019 ETF RULES: The U.S. Securities and Exchange Commission (SEC) is considering approval of another bitcoin exchange-traded fund (ETF). According to a public filing published Tuesday, the SEC is evaluating a rule change to allow NYSE Arca to list and trade shares of Wilshire Phoenix’s Bitcoin and Treasury Investment Trust. The proceeding began in June, when the SEC floated questions to the general public, though records show only six respondents. Full story ALT ADDS: One of the oldest crypto exchanges, bitFyler, will support new cryptocurrencies for its European and American subsidiaries. Announced Tuesday, bitFlyer Europe is adding buy and sell trades for bitcoin cash (BCH), ethereum classic (ETC), litecoin (LTC), lisk (LSK) and monacoin (MONA), while bitFlyer USA is adding bitcoin cash, ethereum classic, and litecoin to its trade offering as well. Full story 1 FUND: Venture capital firm 1confirmation announced a new $45 million fund for cryptocurrency startup investments, led by early Coinbase employee Nick Tomaino. Tomaino previously ran the firm’s first $26 million venture fund. 1confirmation has invested in a wide array of new companies including BloXroute, Tendermint, OpenSea and Commonwealth. It invests in both equity and cryptocurrency tokens. Full story PERKINS-BACKED: Crypto data analytics startup Skew has raised $2 million in seed funding from VCs including Silicon Valley icon Kleiner Perkins. Announced Wednesday, the round was led by London-based FirstMinute Capital, with participation from Seedcamp, Kima Ventures and QCP Capital. Also announced was the company’s skewAnalytics service, which provides a real-time overview of crypto derivatives markets with more than 100 charts on crypto futures and options. Full story BLOCKCHAIN BILL: The House of Representatives passed legislation calling for the Financial Crimes Enforcement Network (FinCEN) to study “innovative technologies” — including blockchain – to improve the bureau’s operations. The bill, dubbed “Advancing Innovation to Assist Law Enforcement Act” was passed on Sept. 19 and now moves to the Senate for consideration. The “bill makes sure that we are using the best technology we have available to find and stop the money laundering that makes all these crimes not only possible, but financially profitable for cartels, traffickers, and terrorists,” said Representative Anthony Gonzalez (R) Ohio, who introduced the bill in May. Full story FALL BELOW: Bitcoin fell sharply on Tuesday, confirming a bearish reversal and opening the doors for a test of crucial price support near $7,500. The leading cryptocurrency by market value ran into selling pressure around $9,700 in the early U.S. trading hours and fell to a 3.5-month low of $7,998 at 19:45 UTC on Bitstamp. BTC had been on slippery ground following Tuesday’s volatility band breakdown. Further, a widely-followed indicator reported the strongest a bear bias in nine months. Full story DIGITAL YUAN DELAY: Before launching its sovereign digital currency , sometimes referred to as the digital yuan, China’s officials will seek further “research, testing, trials, assessments and risk prevention,” the South China Morning Post reports. Last month, the People’s Bank of China (PBOC) said the token was “almost ready,” though today PBOC governor Yi Gang suggested the government currently has no launch timetable.  WHO WON #CRYPTOTWITTER   Copyright © 2019 CoinDesk, All rights reserved.  Our mailing address is:  250 Park Avenue South New York, NY, 10003, US  Want to change how you receive these emails? You can update your preferences or unsubscribe from this list