Current Bitcoin Price: $3842 (as of 8:00 AM PST)
The cryptocurrency market has appreciated an average of 6.6% today, with Bitcoin up a considerable 4.7%. Ethereum is leading the way with its impressive 24 hour gains of over 13% — a movement unheard of in the top three cryptocurrencies for many months now.
While XRP is up only 5%, EOS has also spiked an impressive 14%. Likewise, Bitcoin Cash is up more than 10%, while many other altcoins are up in the 6% to 8% range.
Top Bitcoin & Crypto News Stories for 18th February 2018
Bitcoin break 50 day moving average
Since January of 2018, more than a year ago, the cryptocurrency market has seen very little bullish activity. In fact, barring a few bouncebacks, most cryptocurrencies have followed a downhill journey for that entire duration, with very little sign of a reversal.
Today, after months upon months of bearish sentiment, the price of Bitcoin broke the 50 day moving average (both simple and exponential moving averages, in fact) for the first time since November 2018.
EOS comes under fire for $4 billion ICO
EOS is a cryptocurrency project for which the public has always had love-it-or-hate-it feelings. Over the course of its ICO, which began June 2017, the EOS project raised the equivalent of more than US $4 billion.
Today, moderators of the Reddit /r/cryptocurrency forum opened a debate with the topic “Why did the EOS ICO need to raise over $4 Billion USD? What have they done with it?” Immediately, many spectators took on a disapproving stance towards the ICO, with one user writing that “they wanted max amount of money and people were willing to give 4 bil.“
Craig White also comes under fire
Contrary to the green sentiment in the market, the front page of Reddit’s /r/cryptocurrency decided to host not one, but two heated discussions.
The second of these was concerning Bitcoin evangelist Craig White, who, among other things, allegedly tore the Bitcoin community apart by pushing the Bitcoin Cash project, while also claiming to be Bitcoin’s creator, Satoshi Nakamoto.