Market Review. Results of the Day. Spring Sale. 03/07/2018.
March 7, 2018
The day before International Women's Day has presented us one of the loudest events in the crypto world in recent times: hack of Binance exchange. It should be clarified, that the exchange itself has not been hacked. Actually, malicious users obtained user's API through one of the most popular trading bots, and then traded all their cryptocurrency to ViaCoin. This cryptocurrency is currently the second most traded cryptocurrency on Binance. A famous group of Chinese hackers has been suspected of this hack.
Binance CEO Changpeng Zhao tweeted:
All funds are safe. There were irregularities in trading activity, automatic alarms triggered. Some accounts may have been compromised by phishing from before. We are still investigating. All funds are safe.
Yesterday's sale of cryptocurrency has continued today with new strength. Spring discounts grow. Biggest losers are ETC and IOTA. The market fell by 8% on average
The day started with a slow slide down the trend, and then support levels were tested. Bitcoin broke down the level of $10,000, NEO fell below $100, and Ripple dropped below the support level of $0.85.
Market could not stand another day of the fall, because bulls grow weak each day. Tomorrow's possible fall can provoke a full market collapse by 30-50%.
Key support levels are $9,500 for BTC, $1.5 for IOTA, $90 for NEO, and $0.7 for XRP.