[All Major Korean Cryptocurrency Exchanges Fail Privacy Tests – 30 Days to Improve]

All Major Korean Cryptocurrency Exchanges Fail Privacy Tests – 30 Days to Improve

The South Korean Communications Commission has conducted a survey of major cryptocurrency exchanges in the country and found them to have insufficient customer data protection. Eight exchanges have been sanctioned, with 30 days to resolve their issues and safeguard their system
All Major Korean Cryptocurrency Exchanges Fail Privacy Tests – 30 Days to ImproveThe South Korean Communications Commission (KCC) announced on Wednesday that it has sanctioned 8 cryptocurrency exchanges “a total of KRW141 million [~USD$132,540] in penalties for violating the Personal Information Protection Act.”

This announcement followed the agency’s on-site survey of 10 exchange operators, in collaboration with the Ministry of Science, Technology, and Information and the Korea Internet Development Agency (KISA). The KCC wrote:

"Among the 10 surveyed companies, all eight companies, except the two companies which stopped providing related services during the survey period, were found to be in violation of the Information and Communication Network Act."

The 10 companies surveyed are Upbit, Ripple4y, Coinpia, Youbit, Korbit, Coinone, Coinplug, Eyalabs, Bizcoin, and Bizstore, according to Chosun. Bizcoin and Bizstore stopped their crypto-related services during the survey and were excluded from the list, the news outlet detailed. The country’s largest crypto exchange by volume, Bithumb, was previously investigated separately.

The Fines

The KCC fined Upbit 20 million won (~$18,800), Ripple4y 15 million won, Coinpia 15 million won, Eyalabs 10 million won, Youbit 25 million won, Korbit 21 million won, Coinone 25 million won, and Coinplug 10 million won.

Upbit is one of South Korea’s largest cryptocurrency exchanges. It is backed by the operator of the country’s most popular chat app, Kakao Talk. Meanwhile, Youbit was already in the process of filing bankruptcy before the survey ended.

Bithumb was sanctioned by the KCC in December. The agency fined the exchange 60 million won (~$56,400) for leaking customer data.

KCC’s Rectification Measures

Lee Hyo-Sung, the KCC chairman, said that “We will try to reduce the damage of users through more strict sanctions” of any crypto exchanges that violate the Information and Communication Network Act. He elaborated:

"While the security threats such as virtual currency speculation and hacking of handling sites are increasing, the actual situation of personal information protection of major virtual currency exchanges is very weak."
The Commission has ordered all the exchanges to immediately stop all violations. They are to make corrections within 30 days and report the results to the KCC, the agency announced. The Commission also plans to provide guidelines and regular education for any exchange officers in charge of personal information protection.

To prevent unauthorized access to personal data, the KCC requires the exchanges to “install and operate an access control device such as an intrusion prevention system, [take] measures to prevent the tampering of the access record, [and take] encryption measures for secure storage and transmission of personal information,” the agency wrote.

The exchanges must also “establish and implement internal management plans,” including those “related to the management of virtual currency electronic wallets and cryptographic keys and the transmission of virtual currency transactions,” the KCC detailed.

Source: https://news.bitcoin.com/korean-cryptocurrency-exchanges-privacy-tests/

[This Week in Bitcoin: Up, Down and Sideways]

This Week in Bitcoin: Up, Down and Sideways

It was the best of times, it was the worst of times. From the hubris and excess of the North American Bitcoin Conference to the gloominess of the crypto markets, it’s been a feel-o-coaster of a week. Fear, uncertainty and doubt were the overarching emotions amidst a turbulent seven days, but there was also space for cheer, schadenfreude and disbelief. Welcome to another week in bitcoin.

High Drama Amidst Low Prices

This week in bitcoin managed to cram in more drama than a Mexican telenovela, with major market drama, regulatory drama, and Ponzi drama to name but three. Things started smoothly enough, with our leading story, as Monday broke, addressing the fact that 80% of all bitcoins have now been mined. Traditional media picked that one up and ran with it. Appreciation of bitcoin’s scarcity failed to stop the rot though, as bitcoin started to slide, taking the rest of the cryptocurrency market down with it.

Everyone had a theory behind the slump that saw bitcoin drop below the champagne threshold of $10k for the first time since early December. It was a price bracket that many thought we’d never see again. Theories postulated included threats to ban crypto in South Korea, threats of China cracking down further on bitcoin mining, historical data which shows bitcoin always performs badly in January, or the fact that bitcoin was “overbought” in the run-up to CME and Cboe futures launching last month, and thus a correction was necessary. Some people even chose to blame falling markets on the cycles of the moon, which seems as good a theory as any.

It Came From Korea

It’s impossible to review a week in bitcoin without acknowledging Korea, so here goes: our most popular story concerned government officials profiting on advance knowledge of regulatory action. That’s right, insider trading. Everyone seems to be at it, though it doesn’t require a man on the inside – simply the ability to sense a storm coming, as futures traders appear to have done, according to Eric Wall. He notes “there was an unusual increase in short positions around January 11. At the same time, the price was just bouncing around in the 12800-14200 range.” In other words, the markets looked normal, but futures traders had an inkling that something was brewing.

On Wednesday, every asset in the cryptocurrency top 100 was in the red. 24 hours later and we were back to fields of green. It was a non sequitur the likes of which hasn’t been since 1986 when Dallas’ Bobby Ewing reappeared in the shower after having been killed off in the previous season. In the words of Biggie Smalls, it was all a dream. The dreaming didn’t last for long unfortunately, as by the weekend the market revival had died out and we were back in the low eleven-hundreds. Quick, someone order more tethers.


Bitcoin Gets a Haircut, Bitconnect Gets Scalped

If bitcoiners thought they had it bad, they should spare a thought for bitconnectors. All those with their wealth locked up in the Church of Ponzi had their assets savagely crushed from $290 a token to $18. It would be heartening to say that everyone who got duped by Bitconnect has learned their lesson, but judging by the number of “victims” who are now piling into the Bitconnect X ICO or Davorcoin – yet another Ponzi – the signs aren’t encouraging.

To finish this week’s highlights, of which there are too many to list as usual, we have another tale from South Korea, suggesting that normal banking service may soon be resumed for cryptocurrency exchanges, which is just as well given the rate at which new exchanges are springing up in the country. While the mantle of crypto-friendliest Asian nation resides with Japan for now, in Europe, Belarus is staking a claim as a new haven for crypto’s rax averse.
If you’ve had the temerity to skip straight to the end of this review for the This Week in Bitcoin podcast, here it is. In it you’ll get the tl;dr on this week’s burning stories, delivered by your amiable host Matt Aaron. Catch you next week for more highlights from the heart-stopping world of bitcoin.

Source: https://news.bitcoin.com/this-week-in-bitcoin-up-down-and-sideways/

[215,000+ Sign Petition Against South Korean Crypto Regulation – Government to Respond]

215,000+ Sign Petition Against South Korean Crypto Regulation – Government to Respond

A national petition against extreme cryptocurrency regulations in South Korea has exceeded 200,000 signatures, the requirement for the government to respond. The petition entitled “Has the government ever dreamed a happy dream for the people?” was filed on December 28. Meanwhile, another related petition calls for the removal of the governor of the country’s Financial Supervisory Service.

Government Will Respond

The South Korean government announced a series of regulatory measures for cryptocurrencies in December. Immediately following the announcement on December 28, a national petition entitled “Has the government ever dreamed a happy dream for the people?” was filed and will run through January 27. According to the rules set by the Blue House, if more than 200,000 people sign a petition within a month, the government will respond within 30 days.

On Tuesday, January 16, the number of signatures exceeded that threshold for the above petition, with 215,140 signatories at the time of writing.

Concerning illegal gambling, the author argues “people are not stupid. In the current era, virtual currency is invested because it is judged to be the 4th revolution and it is not just a random investment…I invest wisely to the extent that I do not overdo my money.”

After acknowledging the risks, the author emphasized:

The petition does not object to the real-name system which regulators are trying to implement or taxes that must be imposed. However, “Please do not take away our happiness and dreams that we had for the first time in Korea,” it concludes.

Another Petition and A Constitutional Court Case
On December 28, another national petition was filed. It “calls for the dismissal of Choi Heung-shik, the director of the Financial Supervisory Service, who is offering speculation to the people,” the document states.

This filing was in response to a speech Choi gave on December 28 in which he reportedly said it is a good bet that bitcoin’s bubble will burst. “Bitcoin will lose its bubble later. You can bet,” Hankook-Ilbo and other news outlets quoted him. At the time of writing, 37,911 people have signed this petition but the count is still rising.

Meanwhile, the country’s Constitutional Court has entered into a preliminary hearing on the case against cryptocurrency regulation filed on December 30. Anguk Law Offices appealed “over the government’s regulations on cryptocurrency trading, saying regulating the trade through administrative guidance without any legal grounds is an infringement of property rights,” the Korea Times explained.

The court will examine whether the constitutional appeal is appropriate and whether a full-scale trial is necessary.
Source: https://news.bitcoin.com/petition-against-south-korean-crypto-regulation-government-respond/

[The Futility of Government Bans – Bitcoin Always Finds a Way]

The Futility of Government Bans – Bitcoin Always Finds a Way
Cryptocurrencies have been threatened at one point or another by nearly every country on the planet. Rarely does a government venture beyond rhetoric. Those resorting to crackdowns are often met with greater public appetite for decentralized virtual money, making all that initial fuss an exercise in futility. Be they communist strongholds or liberal democracies, bitcoin cannot be stopped.
  
Government Threats Met with Pushback

In response to a recent Republic of Korea (ROK) bureaucrat’s statement, causing mainstream media to roar about a “ban” on bitcoin, the South Korean street riled to virtual barricades. Citizens flooded petition signatures to the President. Social media contained oceans of angry comments demanding the offending minister’s sacking. The pressure grew so intense, agencies within the same government began contradicting one another, ending with an official presidential announcement no “ban” was forthcoming. Sensing a political market opening, normally reticent ROK politicians jumped on the bandwagon to defend cryptocurrency legitimacy.  

The above is something like a rare historical scientific control with regard to just why bitcoin and cryptocurrencies cannot be banned. For our purposes, ROK’s geographical juxtaposition and its post-war politics fit comfortably beside its northern neighbor, Democratic People’s Republic of Korea (DPRK), North Korea. The two nations share a peninsula, a people, and a history, ripe for an organic experiment in prohibition.

Cryptocurrency probably made its way to DPRK through its wealthier brethren, and perhaps even China in bitcoin’s early years. Obviously, DPRK has a “ban” on bitcoin, de facto. Yet cryptocurrencies are still an issue for the country, something it must address, a problem some reports have as the regime tacitly embracing, and likely as a way around sanctions. Arguably the most closed country in the world is being confronted by a new monetary reality, which illustrates bitcoin’s inherent power under the most extreme of circumstances.

Pronouncement after pronouncement, rule changes, fines, bank harassment, appeals for international cooperation, taxes, emergency measures, the liberal democracy of ROK has been very busy. To be sure, the last round of news from South Korean regulators brought about double digit dips in bitcoin’s price, domestically and internationally. But even that appears to be temporary as markets see bitcoin retain relative price resiliency.

A Dozen Countries are Experimenting with Bans

The side-by-side control of having a hermit kingdom and republican democracy both grapple with bitcoin yields insight into what sort of prohibition is possible, and what is even meant by the word “ban.” Bitcoin cannot be banned in the ultimate sense, as it resembles the character of pushing on a sturdy balloon. Push it down on one side, and it grows on the other.

Of the 195 countries of the world, 12 have openly tried to ban bitcoin and crypto at various levels: Brazil, Indonesia, China, Vietnam, Israel, Morocco, Bolivia, Algeria, Ecuador, Kyrgyz Republic, Bangladesh, and Nepal.

However, that list is misleading. Not all governments have banned cryptocurrency in the same way. Israel, for example, has effectively prevented crypo stocks from being listed on its indices and aided the practice of its banks not allowing bitcoin business accounts. Yet its prime minister has made positive comments, and still another regulator has advocated making Israel a welcoming environment for bitcoin.

It’s worth pointing out Israel is a representative democracy, one of the only in Southwest Asia. The Israeli street is passionate about cryptocurrency and its potential, and, like South Korea, has the electoral ability to influence outcomes should regulators overplay their hand.


Wealthy Will Not Allow Ban

Charles Hugh Smith argued crypto prohibition won’t happen due to the influence of wealthy investors using it as a store of value unable to be monkeyed with by politicians. His point at once affirms and jettisons the democratic thesis, as it all comes down to levers of power. The same way assets such as housing are owned and closely guarded, Mr. Smith postulates, bitcoin will be protected even more. Wealthy holders have gone to great lengths already to keep the currency away from governments.    

For South American countries such as Brazil, Bolivia, and Ecuador, the challenges are both political and economic when it comes to prohibition. Each has versions of command economies, and nationalist fervor is easily whipped up when supposed threats are made against their respective currencies, and bitcoin can certainly represent that. However, even where economic expression is limited and politics are a crazy mix of bureaus and committees, crypto has found a way through. Its popularity grows in Latin America.
The remaining half, from China to Nepal, have almost no tradition of what anyone would ever call democracy, though in some cases governments have pulled back and allowed their populace more expression in personal economic matters. That too is debatable. For odious governments such as Nepal, cracks are appearing. Smartphone adoption continues apace, as does internet access generally. Add to those its young population, some 40 percent under 20 years, and there’s a recipe for crypto.

Prohibition, in the sense Mr. Smith might be thinking, almost always only impacts those without the means to subvert laws. That’s not as true when it comes to cryptocurrency. Whatever else its positives, all anyone needs is a $20 Android phone and they’re immediately able to participate in a huge transfer of wealth. Governments can shut down websites; they can arrest exchange owners; they can make onboarding hell; they can tax it as capital gains. Governments cannot stop an idea whose time has come.

Source: https://news.bitcoin.com/the-futility-of-government-bans-bitcoin-always-finds-a-way/

[Aerospace Engineer Uses Bitcoin Cash to Buy $415,000 Home in Seattle]

Aerospace Engineer Uses Bitcoin Cash to Buy $415,000 Home in Seattle

The mainstream adoption of cryptocurrency is continuing on pace in all different business sectors and in many economies across the world. The latest example of this featured in the press is the recent acquisition of a home using bitcoin cash.

A young aerospace design engineer has used bitcoin cash to buy a three-bedroom $415,000 house in Tukwila, a suburb of Seattle, Washington. The 23 year old investor, Cary Kuo, had to endure a lot of bureaucracy but was eventually able to use his cryptocurrency holdings to pay for a ten percent down-payment on the property and get a mortgage for the rest.

This is assumed to be the first time ever someone has used any cryptocurrency to acquire real estate in the regional market, according to the Seattle Times. It can also be a precedent for someone securing a traditional mortgage in the US nationally for such a transaction, as most publicized real estate for bitcoin deals have so far involved paying the sum outright without the added difficulties of getting an approval for a loan.


The previous owners of the house, as well as the real estate agents involved, were skeptical when they first heard about the buyer using bitcoin cash or other cryptocurrencies to pay for the house. But, after doing some research and due diligence, everyone came around to accept the idea. They even found a residential loan financing company, Guild Mortgage, which was willing to back the deal.

Dealing with the public sector was a different matter however. When the loan company contacted government-sponsored Fannie Mae (Federal National Mortgage Association) to ask if cryptocurrency can be used as an asset for securing a mortgage, the agency had two terms. Kuo had to produce a full paper trail documenting how he acquired the cryptocurrency and convert the down payment sum into fiat to transfer to the seller. Local taxes for the sale also had to be paid with USD.

Oleg Tkach, the Guild Mortgage manager who helped secure the loan for Kuo, commented: “Unless something changes with cryptocurrency, I believe it’s going to become more common.”

Source: https://news.bitcoin.com/aerospace-engineer-uses-bitcoin-cash-to-buy-415000-home-in-seattle/

[Electrum Moves to Patch Bug That Left Thousands of Bitcoin Wallets Exposed]

Electrum Moves to Patch Bug That Left Thousands of Bitcoin Wallets Exposed

Popular wallet developer Electrum has issued an emergency patch for a critical bug in its bitcoin wallets. The flaw allowed any website hosting the Electrum wallet to potentially steal the user’s cryptocurrency. A vulnerability meant that passwords were exposed in the JSONRPC interface, granting hackers complete control of the wallet. The first patch failed to fix the problem however, forcing Electrum to issue a second update on Sunday evening.

Also read: Bittrex Wallets Are Taken Offline as Companies Scramble to Patch the Intel Bug

A Quick Fix to a Long-Standing Problem
Last week, the tech world was rocked by news of a bug in Intel computer chips that had lain undiscovered for years. It’s a similar story with the Electrum wallet vulnerability, with some reports stating that it had been in existence for over two years. Google vulnerability researcher Tavis Ormandy claims to have discovered the bug, though the flaw had been flagged last year. Within hours of Ormandy pointing out the vulnerability, Electrum had rushed out a patch to remedy it.

Electrum Moves Fast to Patch Bug That Left Bitcoin Wallets ExposedIn a Bitcointalk forum post, site admin Theymos explained: “If at any point in the past you had Electrum open with no wallet passphrase set; and had a webpage open then it is possible that your wallet is already compromised. Particularly paranoid people might want to send all of the BTC in their old Electrum wallet to a newly-generated Electrum wallet.”

He later updated his post, adding: “If you had no wallet password set, then theft is trivial. If you had a somewhat-decent wallet password set, then it seems that an attacker could “only” get address/transaction info from your wallet and change your Electrum settings, the latter of which seems to me to have a high chance of being exploitable further. So if you had a wallet password set, you can reduce your panic by a few notches, but you should still treat this very seriously.”

Fatally Flawed
The individual who first reported the flaw on Github on November 24 explained: “While the electrum daemon is running, someone on a different virtual host of the web server could easily access your wallet via the local RPC port. Currently, there is no security/authentication, giving someone access to the RPC port full access to the wallet.”


Electrum is free software that’s used by numerous cryptocurrency sites, including merchants and exchanges, to store bitcoin. Anyone can run an Electrum server and the software supports hardware wallets such as Trezor, Ledger and Keepkey. Enhanced features include multi-sig and the ability to sign transactions using a cold storage device that isn’t connected to the web.

The bug seems to have been fixed before any damage was done – albeit at the second attempt after the first patch proved ineffective – though given the length of time it lay undiscovered, it is hard to say for certain that no funds were stolen. The case illustrates, once again, the risks of leaving bitcoin stored in a web wall
  

Kai Sedgwick
Kai's been playing with words for a living since 2009 and bought his first bitcoin at $19. It's long gone. He's previously written white papers for blockchain startups and is especially interested in P2P exchanges and DNM.

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Last week, the tech world was rocked by news of a bug in Intel computer chips that had lain undiscovered for years. It’s a similar story with the Electrum wallet vulnerability, with some reports stating that it had been in existence for over two years. Google vulnerability researcher Tavis Ormandy claims to have discovered the bug, though the flaw had been flagged last year. Within hours of Ormandy pointing out the vulnerability, Electrum had rushed out a patch to remedy it.

In a Bitcointalk forum post, site admin Theymos explained: “If at any point in the past you had Electrum open with no wallet passphrase set; and had a webpage open then it is possible that your wallet is already compromised. Particularly paranoid people might want to send all of the BTC in their old Electrum wallet to a newly-generated Electrum wallet.”

He later updated his post, adding: “If you had no wallet password set, then theft is trivial. If you had a somewhat-decent wallet password set, then it seems that an attacker could “only” get address/transaction info from your wallet and change your Electrum settings, the latter of which seems to me to have a high chance of being exploitable further. So if you had a wallet password set, you can reduce your panic by a few notches, but you should still treat this very seriously.
Source: https://news.bitcoin.com/electrum-moves-to-patch-bug-that-left-thousands-of-bitcoin-wallets-exposed/

[Venezuela Seeks Miners for the Petro – Maduro Claims 860,811 Already Signed Up]

Venezuela Seeks Miners for the Petro – Maduro Claims 860,811 Already Signed Up

Venezuela is looking for miners for the country’s national cryptocurrency, the Petro. The government has opened up a registry for miners to sign up to mine and gain access to the new currency. According to Venezuela’s president Nicolás Maduro, 860,811 young people have already registered to create the Petro mining farms

Venezuelan Miners Wanted
Venezuela has opened up the Registry of Cryptocurrency Miners for anyone with national identification to sign up to mine the country’s cryptocurrency, the Petro. The portal, launched by the Superintendence of Cryptocurrencies and Related Activities, will remain open until January 21.

Venezuela Seeks Miners for the Petro - Maduro Claims 860,811 Already Signed Up Registration “is an essential requirement for natural and legal persons to have access to Petro,” reported El Impulso. Additionally, the Minister of Communication and Information, Jorge Rodriguez, indicated that the registered may have access to other digital currencies that are authorized by the government. He was recently quoted by Panorama saying:

"Natural or legal persons registered in the Registry will be able to acquire other types of cryptocurrencies for free use and demand in Venezuela, as long as they are authorized".

Venezuela Seeks Miners for the Petro - Maturity Claims 860,811 Already Signed Up
Maduro announcing the Petro.
Venezuela’s president Nicolas Maduro first announced the creation of the Petro back in December, as news.Bitcoin.com reported. He then created the Superintendency of cryptocurrencies as well as the Blockchain Observatory to oversee the launch and operation of the Petro. Recently, he backed the Petro with 5 billion barrels of oil reserves and released mining, trading, and launch details of the new currency.

Based on the latest data provided by the Ministry of Petroleum, “The basis for calculating the value of the Petro will be the price of a barrel of crude, which currently stands at an average of 57 dollars,” the news outlet noted.

860,000+ Have Signed Up
Since the announcement of the Petro, Maduro claims to have been recruiting young people across his country to develop mining farms for the Petro. He was quoted by El Universal:

"We are going to call them a special cryptocurrency team…[They will] set up cryptocurrency mining farms in all states and municipalities of the country".

Venezuela Seeks Miners for the Petro - Maduro Claims 860,811 Already Signed Up According to the president, a total of 860,811 young people have already signed up to take part in the mining farm project, 300,000 of which have already begun working on it as part of the country’s For this project, computers will be interconnected by a mining software, Maduro elaborated.

Meanwhile, Venezuela’s private business sector has some reservations about the Petro. El Impulse quoted them asserting:

The cryptocurrency market in the world is not managed by governments, and its credibility and success are based on trust, something that does not exist in Venezuela.
Source: https://news.bitcoin.com/venezuela-miners-petro-maduro/

Japan 's growth in GDP was attributed to bitcoin wealth effect according the report their gdp boost of 0.3% heading into the first three months of 2018 it was also stated that Japanese consumers and retail businesses will also benefit from the country’s crypto craze.
https://news.bitcoin.com/japans-gdp-grows-due-to-bitcoin-wealth-effect/

This is a detail article on the rise and fall of bitcoin, by BBC tech correspondent he gave a vivid explanation how bitcoin have been faring as regards the price and people response to bitcoin in 2017.
http://www.bbc.com/news/technology-42454876

Due to growing concern on the drop in the price of bitcoin has prompted some exchanges to suspend trading this could further plunges the price according to this news article, as what is currently being experienced, the question now is when is bitcoin going to bounce back?
http://www.bbc.com/news/business-42457983

There are growing consign about the media not covering  enough information about falling price of bitcoin according to this report, there should be detailed report of how bitcoin price is fairing in the market which should capture the overall price movement of bitcoin.
http://www.bbc.com/news/business-42435995

The Monetary Authority of Singapore has just issued a warning about bitcoin, this is coming as result of surges in the price of bitcoin, I hope this will not be setback towards the price of bitcoin reaching $20,000 as predicted before the end of 2017.
https://www.thestar.com.my/news/regional/2017/12/19/singapore-issues-cryptocurrency-warning/

Another major breakthrough for bitcoin as US regulator approves bitcoin trading I believed this is another landmark for bitcoin towards achieving more global recognition and possibly pushing up the price in days ahead.
http://www.bbc.com/news/business-42199260

This is absolute incredible to hear that an ICO (confido) raises $340K in their sales disappeared and vanished into thin air this is a bad signal to potential investors in new ICOs I believe it is high time regulators should come up to screen out scam ICOs just like spot forex and other financial institutions.

https://cointelegraph.com/news/confido-ico-raises-340k-vanishes

It has been days now bitcoin had been hovering around this strong Resistance level $6500 to $6600
I believed it is only fundamentals that can break that resistance unfortunately SigWit2x was cancelled and there is no upcoming hardfork, maybe more buyers could help in breaking this resistance.
Suggestions and analysis is welcomed.

According to this latest research showing the top 10 richest holders of bitcoin. This reinforces the fact that people still belief that the price of bitcoin will continue to rise and there is no panic selling from those holders despite the fact that the price of bitcoin is going on a dip presently.
https://dowbit.com/infographics-top-10-richest-bitcoin-addresses/

According to this article another altcoin 'bitcoin gold'  will be created from bitcoin like BCC during the upcoming hard fork in October 25th which means every owner of a bitcoin will technically own a bitcoin gold, I hope my wallet will support this new chain.
https://www.quora.com/Can-you-elaborate-on-how-bitcoin-holders-will-receive-bitcoin-gold-after-the-October-25th-hard-fork

According to this chart analysis it is speculated that if bitcoin cannot break this resistance it is likely it will pullback or corrected to $3600 and panicking sellers may pushed it even lower,  but if the present resistance is broken, there is the tendency that bitcoin is going to all time higher record of $5K+
http://cryptopost.com/bitcoin-daily-btc-facing-strong-resistance-september-27-2017/
Analyst contribution is welcomed.

I just sat down reasoning about everybody's decision to  hold or keep their BTC, if the price of BTC reaches 50K today who is going to buy at that price? then there will be many sellers and few buyers,  is the reasons for holding or keeping the BTC justifiable? please some convincing explanations.