Day: October 24, 2017

Coinbase has confused markets with its contradictory stance on SegWit2x, which it now aims to support if markets so dictate.

There is a across the board alt coin price appreciation after that BTC hard fork yesterday. While prices fluctuate as a result, it was NEO and DASH who lead the surge with double digit scores against the USD. Let’s review price action below: ALT COIN LSK PRICE ACTION ANALYSIS On the technical front, nothing major … Continue reading ALT COIN TECHINCAL ANALYSIS: NEO AND DASH ROSE BY DOUBLE DIGITS AFTER BTC GOLD FORMATION

The post ALT COIN TECHINCAL ANALYSIS: NEO AND DASH ROSE BY DOUBLE DIGITS AFTER BTC GOLD FORMATION appeared first on NEWSBTC.

ETH/USD Ethereum saw quite a bit of buying during Tuesday, breaking above the $305 level. Now that we are reaching towards the $315 handle, if we can break above there the market is free to go much higher. Pullbacks of this point should be buying opportunities as we have seen a 9% gain as the … Continue reading ETH/USD and ETH/BTC Technical Analysis October 25 2017

The post ETH/USD and ETH/BTC Technical Analysis October 25 2017 appeared first on NEWSBTC.

Major US-based bitcoin wallet and trading platforms Coinbase and Gemini have been criticized by the community for their decision to list the chain with the most accumulated difficulty as “bitcoin” upon the SegWit2x hard fork on November 26. Coinbase Changes Stance Earlier this week, NewsBTC previously reported that Coinbase has intended to provide unconditional support … Continue reading Major US Exchanges Coinbase and Gemini Criticized For Bitcoin Hard Fork Support

The post Major US Exchanges Coinbase and Gemini Criticized For Bitcoin Hard Fork Support appeared first on NEWSBTC.

DASH/USD DASH continues to look very volatile, initially falling during the session on Tuesday, but turning around as Bitcoin had quite a few issues during the day. We have reached towards the vinyl $300 level, and I think that if we can break above there, the market could continue to go much higher. A break … Continue reading DASH/USD and LTC/USD Technical Analysis October 25 2017

The post DASH/USD and LTC/USD Technical Analysis October 25 2017 appeared first on NEWSBTC.

Key Highlights Ripple price is slowly recovering and is currently trading above $0.1960 against the US Dollar. There is an ascending channel forming with support at $0.2000 on the hourly chart of the XRP/USD pair (data source from Kraken). The price might dip a few points, but it remains supported near the $0.2000 and $0.1960 … Continue reading Ripple Price Technical Analysis – XRP/USD Not out of Woods

The post Ripple Price Technical Analysis – XRP/USD Not out of Woods appeared first on NEWSBTC.

BTC/USD Bitcoin had a choppy session on Tuesday, as word got out that Bitcoin Gold had its central hub attacked. However, I think that there is plenty of support below, and these dips continue to offer buying opportunities. The 5600 level is offering a bit of support, and I think is even more support at … Continue reading BTC/USD and BTC/JPY Technical Analysis October 25 2017

The post BTC/USD and BTC/JPY Technical Analysis October 25 2017 appeared first on NEWSBTC.

Initial coin offerings (ICOs) are the “biggest scam ever,” according to Jordan Belfort, better known as the “Wolf of Wall Street.”

Key Highlights ETH price failed badly to move past $309 against the US Dollar and started a new downside wave. There is a short-term bullish trend line with support at $288.50, holding losses on the hourly chart of ETH/USD (data feed via SimpleFX). The price might correct higher, but likely to decline further towards $280 … Continue reading Ethereum Price Technical Analysis – ETH/USD Back to Square One

The post Ethereum Price Technical Analysis – ETH/USD Back to Square One appeared first on NEWSBTC.

As cryptocurrency continues to soar in value and becomes an increasingly popular way to invest, Investing.com, the global financial portal used by millions of traders and investors around the globe, has recently revealed which U.S. states are most drawn to virtual currency, with an underlying theme present across the board.

While you might think that tech-savvy California or New York would lead the way in the currency of tomorrow, it is in fact the likes of Nevada, Texas and New Hampshire that have taken to blockchain technology ahead of their big city counterparts.

So why is this the case?

Interestingly enough Nevada, Texas and New Hampshire all have something in common: favorable regulations on cryptocurrency across each state. Nevada became the first state to ban blockchain taxes in June, Texas was the first state to release an official position on Bitcoin with Memorandum 1037, stating that no money transmitters license is required to sell Bitcoin and New Hampshire signed a bill into law in June that exempts digital currency traders from the state’s money transmission regulations.

Looking through our data between January to September 2017, interest among the three states has soared. From a total of 36,230 users in Nevada using Investing.com, 4,057 showed interested in virtual currency (11.2%); 31,116 users out of a total of 324,914 in Texas were seen monitoring the currency (10.5%); and of New Hampshire’s 16,442 users, 1,644 were interested in cryptocurrency (10.4%).

These favorable regulations have not only lead to increased interest across the states compared to the rest of the country but also increased usage. Just last month the Lone Star State was home to the very first Bitcoin-only real estate transaction.

Furthermore, it’s a trend that is consistent with the other end of the spectrum in regards to states issuing harsh regulations on cryptocurrencies. New York ranked the 38th on the list with 17,064 users out of a total of 426,617 interested in the digital currency. Infamously, a business license of virtual currency activities, called BitLicense, was issued by The New York State Department of Financial Services (NYDFS) in 2015. The New York Business Journal, termed the turn of events the ‘Great Bitcoin Exodus’, which saw at least ten Bitcoin companies cease all business in New York State because of the new regulations.  

Hawaii bottomed out the list, showing the least interest in cryptocurrency, and once again seems to play into the trend with it’s unfriendly stance towards digital currencies. Coinbase, a Bitcoin and Ethereum exchange, recently ceased supporting its customers in Hawaii due to what it deems “impractical regulatory policies” and Hawaiians were forced to close their accounts. Of the 17,755 users in Hawaii, only 325 were interested in cryptocurrency (1.8%).

Change is happening quickly and each state seems to be taking a black-and-white approach to cryptocurrency. It’ll be interesting to see what the data reveals in another few months’ time. One would think, if cryptocurrencies like Bitcoin stand a chance of becoming a fully-mainstream commodity, state regulations across the U.S. could well be the defining factor.

About Igal Stolpner and Clement Thibault

Igal Stolpner is the Head of Growth and Marketing at Investing.com, the global financial platform in 30 languages.

Clement Thibault is a Senior Analyst at Investing.com.

Key Points Bitcoin cash price failed to capitalize on the recent gains above $320 against the US Dollar and declined. There is a short-term bearish trend line forming with current resistance at $328 on the hourly chart of BCH/USD (data feed from Kraken). The price might continue to trade in a range above the $300 … Continue reading Bitcoin Cash Price Technical Analysis – BCH/USD’s Ranging Moves Continue

The post Bitcoin Cash Price Technical Analysis – BCH/USD’s Ranging Moves Continue appeared first on NEWSBTC.

The Drug Enforcement Agency said bitcoin is helping criminal organizations launder money to China in its latest threat assessment report.

Bitcoin price is trading lower inside a descending channel on its short-term time frame and might be due for a test of resistance.

The post Bitcoin Price Technical Analysis for 10/25/2017 – New Downtrend Forming appeared first on NEWSBTC.