Rememberful Bitcoin News.
21 Inc, once a maker of bitcoin mining hardware, is rebranding to emphasize its recent focus on using digital currency to power a social network.
21 Inc, once a maker of bitcoin mining hardware, is rebranding to emphasize its recent focus on using digital currency to power a social network.
The Block Collider is the first blockchain to be built on the Financial Information eXchange (FIX) protocol which is used by hedge funds to conduct high-frequency trading. The team, ex-quants have developed a high-speed trans-blockchain cryptocurrency …
The Block Collider is the first blockchain to be built on the Financial Information eXchange (FIX) protocol which is used by hedge funds to conduct high-frequency trading. The team, ex-quants have developed a high-speed trans-blockchain cryptocurrency called Emblems which when coupled with a new mining algorithm called “proof-of-edit-distance” (PoED) which enables live swaps between blockchains, … Continue reading : First blockchain to use proof-of-edit-distance (PoED), the Block Collider joins Cofound.it seed program
The post : First blockchain to use proof-of-edit-distance (PoED), the Block Collider joins Cofound.it seed program appeared first on NEWSBTC.
Not a day goes by without hearing of cryptocurrency. Many of them are developed to solve certain problems and following the suit is NetCents Technology Inc., a Canada based company. The company is releasing its own asset-backed cryptotoken called NetCe…
Not a day goes by without hearing of cryptocurrency. Many of them are developed to solve certain problems and following the suit is NetCents Technology Inc., a Canada based company. The company is releasing its own asset-backed cryptotoken called NetCents Coin. The company’s decision to enter the digital currency sphere is driven by the demands … Continue reading Net-Cents to Release the NetCents Coin in November
The post Net-Cents to Release the NetCents Coin in November appeared first on NEWSBTC.
Seeking AlphaAre Jamie Dimon And Prince Alwaleed Right About Bitcoin?Seeking AlphaIn recent weeks some prominent bitcoin skeptics have voiced concerns regarding various elements surrounding the controversial cryptocurrency. Currencies exhibit certain c…
Seeking Alpha | Are Jamie Dimon And Prince Alwaleed Right About Bitcoin? Seeking Alpha In recent weeks some prominent bitcoin skeptics have voiced concerns regarding various elements surrounding the controversial cryptocurrency. Currencies exhibit certain common characteristics and bitcoin appears to score quite well when compared to ... Bitcoin vs US Dollar: Cases of Volatility Markets Update: Bitcoin Rebounds to Establish New All-Time High |
The Benton County sheriff’s office in Arkansas aims to pilot a new program to help tackle cyber criminals. Part of its Cyber Crimes Division, the primary target of the operation will be purveyors of child pornography, and those using the dark web…
The Benton County sheriff’s office in Arkansas aims to pilot a new program to help tackle cyber criminals. Part of its Cyber Crimes Division, the primary target of the operation will be purveyors of child pornography, and those using the dark web to prey on vulnerable young people. As part of the program, law enforcement … Continue reading Arkansas to Tackle Cyber Crime by Mining Bitcoin
The post Arkansas to Tackle Cyber Crime by Mining Bitcoin appeared first on NEWSBTC.
According to the Iranian Deputy Minister of Information and Communication Technology, Amir Hossein Davaee, Iran have been conducting studies into how to prepare an infrastructure to use Bitcoin within the country. This could lead to greater adoption in…
According to the Iranian Deputy Minister of Information and Communication Technology, Amir Hossein Davaee, Iran have been conducting studies into how to prepare an infrastructure to use Bitcoin within the country. This could lead to greater adoption in the Middle-Eastern nation. To successfully integrate crypto, the deputy minister said that both infrastructural and economic issues … Continue reading Iran Preparing Cryptocurrency Infrastructure
The post Iran Preparing Cryptocurrency Infrastructure appeared first on NEWSBTC.
Companies involved with traditional mining are paying rather close attention to cryptocurrencies these days. That in itself should not come as much of a surprise. Over in Norway, Intex is currently contemplating issuing its own digital currency. The new currency will be pegged to Intex’s future raw materials, which mainly consist of iron and nickel. It’s an interesting venture, even though a lot of lingering questions remain unanswered right now. Intex Makes a Shocking Announcement A lot of stockholders were quite surprised by Intex’s announcement last Friday. In the statement, the company detailed its recent market growth, but that wasn’t the aspect that caught everyone’s attention. Instead, it was
Companies involved with traditional mining are paying rather close attention to cryptocurrencies these days. That in itself should not come as much of a surprise. Over in Norway, Intex is currently contemplating issuing its own digital currency. The new currency will be pegged to Intex’s future raw materials, which mainly consist of iron and nickel. It’s an interesting venture, even though a lot of lingering questions remain unanswered right now.
A lot of stockholders were quite surprised by Intex’s announcement last Friday. In the statement, the company detailed its recent market growth, but that wasn’t the aspect that caught everyone’s attention. Instead, it was the part about Intex issuing its own digital currency in the near future that caught a lot of people off guard. The company views this new venture as a promising endeavor meant to secure the company’s legacy as a whole.
While it is true cryptocurrencies and digital assets have become all the rage lately, this news is quite a shock. At the same time, the company explained it’s seeking to raise additional funds through an ICO, which will reward investors with the soon to-be-created token. That’s a smart company decision, as it has a proven business model in the traditional mining industry. Iron ore and nickel are the company’s main bread and butter right now.
Although it remains to be seen how the new digital currency will be created and issued, this prospect opens up a lot of exciting opportunities moving forward. Harmonychain has been named a partner in this venture, although more specifics remain shrouded in mystery at the time being. It seems there will be two coins tentatively called “iron” and “nickel”, although their official names and tickers may change moving forward.
We do know there will be a total of 21 million coins in circulation, although it remains to be seen which blockchain will be used in the process. It is possible these coins will be created as ERC20 tokens, though that has not been officially confirmed by either party. Using a private ledger would make a lot more sense in order to keep the currency out of the hands of cryptocurrency speculators and manipulators. Then again, there are still a lot of decisions to be made over the coming weeks and months.
Up to this point, there have been very few existing companies looking to issue their own digital currencies through an ICO. Especially in the traditional mining industry, Intex is leading the charge for the time being. Different types of investors will need to be attracted in the process of establishing the new coins, although that is much easier said than done. Gaining exposure to raw material markets in the form of digital currency rather than regular stocks or shares will certainly yield some unexpected results in the coming years.
For the time being, key details regarding this new venture have yet to be revealed to the public. There is no official date for this sale right now, and a lot of technical details have yet to be figured out. One can certainly argue this venture has a lot more potential than we see in central banks which issue their own digital currencies. Although this doesn’t mean Intex will see major success by default, there is certainly an interesting opportunity waiting to be explored.
The European Commission has announced €30 billion on new investments in technology initiatives including those involving blockchain.
The European Commission has announced €30 billion on new investments in technology initiatives including those involving blockchain.
Bitcoin: CBOE To Trade Options And Futures And Push Bitcoin HigherSeeking AlphaThe CBOE is moving to offer futures and options trading for Bitcoin. This is a move to take advantage of a nearly $1.6 billion potential revenue opportunity for the CBOE (NA…
Bitcoin: CBOE To Trade Options And Futures And Push Bitcoin Higher Seeking Alpha The CBOE is moving to offer futures and options trading for Bitcoin. This is a move to take advantage of a nearly $1.6 billion potential revenue opportunity for the CBOE (NASDAQ: CBOE). CBOE is one of the largest options and futures exchanges worldwide. |
Bitcoin: CBOE To Trade Options & Futures And Push Bitcoin HigherSeeking AlphaThe CBOE is moving to offer futures and options trading for Bitcoin. This is a move to take advantage of a nearly $1.6 billion potential revenue opportunity for the CBOE (…
Bitcoin: CBOE To Trade Options & Futures And Push Bitcoin Higher Seeking Alpha The CBOE is moving to offer futures and options trading for Bitcoin. This is a move to take advantage of a nearly $1.6 billion potential revenue opportunity for the CBOE (NASDAQ: CBOE). CBOE is one of the largest options and futures exchanges worldwide. |
After bouncing back and forth from $5100 to $6100, BTC-USD managed to squeeze out one more (albeit short-lived) all-time high. This article is going to present an update to the last discussion regarding the potential Wyckoff Distribution and provide…
After bouncing back and forth from $5100 to $6100, BTC-USD managed to squeeze out one more (albeit short-lived) all-time high. This article is going to present an update to the last discussion regarding the potential Wyckoff Distribution and provide a more contextualized, macro-view of the current bitcoin market. Before reading any further, I would like to emphasize the word “potential” within the context of this discussion because until the market actually reverses, this is nothing more than a potential market set-up:
Figure 1: BTC-USD, 1-HR Candles, Potential Wyckoff Distribution
When we last discussed this potential distribution pattern, we hadn’t experienced the first Upthrust (UT) or the following Upthrust After Distribution (UTAD). Both Upthrusts represent a brute-force market test of the bitcoin demand and, as you can see, the Upthrusts were very short-lived and ultimately pulled back to more comfortable price levels.
At the time of this article, we are potentially in what is known as “Phase C” of the Wyckoff distribution. Phase C is meant to intentionally deceive the bullish retail traders into buying and to shake out unconfident shorters. The whole purpose of Phase C is to create the illusion that market wishes to push upward and resume the uptrend while the larger market players unload their liquidity onto the more bullish investors. In the Wyckoff distribution model, the UTAD is the terminal shakeout opportunity and serves to test the remaining market demand before a larger correction follows.
During yesterday’s potential UTAD, one of the top contract holders on OKCoin got liquidated for a 480,000 contract position — or, in other words: $48 MILLION dollars. Yesterday’s liquidation was the largest liquidation in OKCoin history. So, if you feel as if you can’t quite get a grasp on the market and you keep getting stopped out of your positions, just know you aren’t the only one. All of this misdirection is part of Phase C within the Wyckoff distribution model.
Figure 2: BTC-USD, 12-Hour Candles, MACD and RSI Divergence
On a more macro-view, we see clear signs of bearish divergence on both the RSI and MACD indicators. This gives us an indication that the market is struggling to squeeze out new highs and the bullish momentum is starting to die down.
Zooming out, we can see bitcoin has been confined within a fairly clean ascending channel and has well-defined support and resistance along the Fibonacci Retracement set. The channel and Fib set start from the $600s:
Figure 3: BTC-USD, 1-Day Candles, Macro Channel
One thing of note in this macro trend is dramatic decline in total volume (shown in pink) over the length of this ascending channel. The decrease in total volume shows a decrease in confidence as the price continues to climb to new highs. As the volume continues to decline, it indicates a shift toward retail investor pressure and a smaller buying influence from larger, institutional investors.
If the market begins to reverse on a macro scale, we can expect to find support along the Fibonacci Retracement values shown above. Also, on the 1-day candles, there is historic support along the 50 EMA and 200 EMA. Over the course of the last year, bitcoin has yet to successfully break below the 200 EMA (shown in red), so we can expect to see a significant level of support along the 200 EMA.
With the uncertainty surrounding the upcoming hard fork, it’s fairly difficult to anticipate how the market will behave. It’s important to keep in mind that it is entirely possible it could make further moves upward; should the market pick up bullish momentum, we can expect a test of the upper trendline of the ascending channel near the lower $7000 values.
Bitcoin is continuing to show characteristics of a distribution phase.
On a macro-scale, Bitcoin is signs of bullish exhaustion in the form of RSI and MACD divergence.
If the market pulls back, we can expect to see support along the macro Fibonacci Retracements.
Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.
The post Bitcoin Price Analysis: Signs of Divergence May Point to Potential Distribution Phase appeared first on Bitcoin Magazine.
Money MagazineThe 8 Biggest Bitcoin Players Who Could Make a FortuneMoney MagazineThe value of Bitcoin has reached an all time high. Here are people with the most invested.and more »
Money Magazine | The 8 Biggest Bitcoin Players Who Could Make a Fortune Money Magazine The value of Bitcoin has reached an all time high. Here are people with the most invested. |
A highly anticipated update to the Ethereum network could be happening before schedule according to developers. The Casper update may be rolled out as early as the next hard-fork, Constantinople instead of previous plans for it to come with Serenity, t…
A highly anticipated update to the Ethereum network could be happening before schedule according to developers. The Casper update may be rolled out as early as the next hard-fork, Constantinople instead of previous plans for it to come with Serenity, the last development phase, in 2018. The hard forks are underlying changes to protocol creating … Continue reading Ethereum Casper Could See Light Much Sooner Than Expected
The post Ethereum Casper Could See Light Much Sooner Than Expected appeared first on NEWSBTC.
Every major cryptocurrency goes through periods during which weak hands sell assets and a lot of misinformation is distributed. We still see it with Bitcoin to this very day, as a lot of people have no idea what this cryptocurrency entails exactly. In the case of NEO, it seems a lot of people have only now figured out that its node system is very centralized and only a dozen or so nodes exist. This has been public knowledge for some time now, though. Addressing the NEO Node System Ever since the NEO altcoin has gained some market traction, people have been trying to
Every major cryptocurrency goes through periods during which weak hands sell assets and a lot of misinformation is distributed. We still see it with Bitcoin to this very day, as a lot of people have no idea what this cryptocurrency entails exactly. In the case of NEO, it seems a lot of people have only now figured out that its node system is very centralized and only a dozen or so nodes exist. This has been public knowledge for some time now, though.
Ever since the NEO altcoin has gained some market traction, people have been trying to discredit it whenever possible. That isn’t necessarily surprising in this day and age, but it also shows how some aspects of a currency may need to be explained a lot better moving forward. In the case of NEO, its current node infrastructure has been causing a bit of confusion as of late. Surprisingly, very few people seem to be aware of how things have been operating all this time.
To put this situation into perspective, there are only thirteen NEO nodes on the network right now. This has been the case from day one and is public knowledge, as the developers never tried to hide it by any means. There is no option for community members to introduce more nodes at this point in time, although that will change come 2018. While 13 nodes isn’t many, it doesn’t hinder the NEO ecosystem one bit right now.
As to who controls these nodes at present, the NEO developers and team own all of them. This creates a very centralized infrastructure. In the world of decentralized cryptocurrencies, one would expect every centralized aspect to be removed from the equation, but that is not always a possibility. In the case of NEO, this centralized approach was done deliberately to ensure that a secure and stable network would be created from day one. It certainly has worked quite well so far.
Come 2018, things will get changed quite a bit. More specifically, it will become possible at that time for NEO community members to set up their own nodes. A lot of people have been waiting for that moment in time, and it is expected that the number of network nodes will quickly increase as time progresses. There will also be an option for people to set up masternodes, and they will need to lock up a specific amount of NEO in order to do so. More details regarding NEO masternodes will be unveiled in the coming months, by the looks of things.
Moreover, the NEO team says it hopes to have at least two-thirds of network nodes become decentralized in 2018, though it is unclear whether this refers to two-thirds of the current nodes or of all nodes. If the latter is the case, the ecosystem would need around 26 additional nodes, which isn’t impossible to attain whatsoever. Regardless of which interpretation is correct, there will be some interesting changes as far as NEO is concerned.
The big question is why people only now are realizing this. As is usually the case, there are a lot of new people to cryptocurrency who don’t conduct research on every coin they come across. With the thousands of coins in existence, that is not surprising. This is not necessarily an attack against NEO, but it is sometimes good to restate the obvious and make it clear to the rest of the world. Yes, NEO has a centralized node system, but it will change in a few months from now.
ForbesBitcoin Hits Fresh, All-Time High Over WeekendForbesBitcoin reached a new high over the weekend, moving upward as market participants traded the currency ahead of its hard fork. The digital currency rose to as much as $6,306.58 at 20:15 UTC, Coin…
Forbes | Bitcoin Hits Fresh, All-Time High Over Weekend Forbes Bitcoin reached a new high over the weekend, moving upward as market participants traded the currency ahead of its hard fork. The digital currency rose to as much as $6,306.58 at 20:15 UTC, CoinDesk Bitcoin Price Index (BPI) figures show. By reaching ... Lebanese Central Bank Governor Criticizes Bitcoin as “Unregulated” Commodities Central Bank of Lebanon Hints at State-Backed Cryptocurrency |