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Cryptocurrencies Drop as Japanese Exchange Halts Withdrawals -

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Jan, 26th 14:42

Cryptocurrencies slumped after one of the largest Bitcoin exchanges in Japan halted client withdrawals.

Coincheck, based in Tokyo, said in a series of tweets that it had suspended all withdrawals, halted trading in all tokens except Bitcoin and stopped deposits into NEM coins. The exchange didn’t immediately respond to an emailed request for comment.

Cryptocurrency exchanges, many of which operate with little to no regulation, have suffered a spate of outages and hacks amid the trading boom that propelled Bitcoin and its peers to record highs last year.

In Japan, where the Mt. Gox exchange collapsed after a theft in 2014, policy makers have introduced a licensing system to increase oversight of local cryptocurrency venues. Coincheck has yet to receive a license, according to the website of Japan’s financial regulator.

On the technical charts BTC/USD is trading in the negative zone, below all the moving averages (9day, 20 day, 50 day and 100 day). The RSI is at 38.9 and the MACD is below the signal line.

Trade suggestion:

Buy digital Put options between 10402 and 10936, valid until 23:00 GMT January 26th 2018