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ETH/USD and ETH/BTC Technical Analysis November 3 2017

ETH/USD Ethereum fell during the trading session on Thursday, breaking below the $290 level, and then testing the $275 level underneath. A bounce from there tested the $290 level, which of course is a very important level, as it was the bottom of consolidation, but it looks likely that we are entering a wider consolidated … Continue reading ETH/USD and ETH/BTC Technical Analysis November 3 2017

The post ETH/USD and ETH/BTC Technical Analysis November 3 2017 appeared first on NEWSBTC.

ETH/USD

Ethereum fell during the trading session on Thursday, breaking below the $290 level, and then testing the $275 level underneath. A bounce from there tested the $290 level, which of course is a very important level, as it was the bottom of consolidation, but it looks likely that we are entering a wider consolidated area. A break above the $292 level should have the market looking for the $308 level now, and looking at the 4-hour chart it seems as if the buyers are returning.

ETH/BTC

Ethereum found its footing a bit against Bitcoin at 0.038, but quite frankly any bounce at this point should invite selling, as this market has been in such a nasty downtrend. Although I think Ethereum will rally against the US dollar, Bitcoin markets are essentially on fire right now, meaning that we will continue to see longer-term bearish pressure.

Thanks for watching, I’ll be back Monday.

The post ETH/USD and ETH/BTC Technical Analysis November 3 2017 appeared first on NEWSBTC.

Credit Suisse CEO Has No Appetite for Bitcoin, Cries “Bubble” – Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)


Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)

Credit Suisse CEO Has No Appetite for Bitcoin, Cries “Bubble”
Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)
While the lack of regulation and use by criminals once formed the basis of attacks on Bitcoin, “bubble” is the latest condemnation used by skeptics. Credit Suisse CEO Thiam used the same logic to attack Bitcoin. Speaking at a news conference in Zurich, …
Banks are staying away from bitcoin ‘bubble’ due to money laundering, Credit Suisse CEO saysCNBC
Credit Suisse CEO: Bitcoin the ‘Very Definition of a Bubble’CoinDesk
Bitcoin Is the ‘Very Definition’ of a Bubble, Credit Suisse CEO SaysBloomberg
Reuters –TechCentral –Moneyweb.co.za –City AM
all 61 news articles »

Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)

Credit Suisse CEO Has No Appetite for Bitcoin, Cries “Bubble”
Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)
While the lack of regulation and use by criminals once formed the basis of attacks on Bitcoin, “bubble” is the latest condemnation used by skeptics. Credit Suisse CEO Thiam used the same logic to attack Bitcoin. Speaking at a news conference in Zurich, ...
Banks are staying away from bitcoin 'bubble' due to money laundering, Credit Suisse CEO saysCNBC
Credit Suisse CEO: Bitcoin the 'Very Definition of a Bubble'CoinDesk
Bitcoin Is the 'Very Definition' of a Bubble, Credit Suisse CEO SaysBloomberg
Reuters -TechCentral -Moneyweb.co.za -City AM
all 61 news articles »

USD DEMAND DRIVING ALT COIN PRICES LOWER

Increased USD demand is driving alt coin prices lower. From a technical point of view, our alt coin live charts hints of more bear pressure in the coming session especially in NEO. Let’s review alt coin price action: LSK ALT COIN PRICE CHART Taking a Top-down approach and you will notice that the weekly chart … Continue reading USD DEMAND DRIVING ALT COIN PRICES LOWER

The post USD DEMAND DRIVING ALT COIN PRICES LOWER appeared first on NEWSBTC.

Increased USD demand is driving alt coin prices lower. From a technical point of view, our alt coin live charts hints of more bear pressure in the coming session especially in NEO. Let’s review alt coin price action:

LSK ALT COIN PRICE CHART

LSKUSD alt coin prices chart
LSKUSD Daily Chart for 03.11.2017

Taking a Top-down approach and you will notice that the weekly chart is bearish. From a technical point of view, it is highly likely that this bear LSK trend will continue.

For the past 3 weeks before this week’s candlestick, price action has been consolidating and mostly closing as bearish pin bars. $4.1 was a temporary support but that was breached with this week’s bear slide. It is worth noting that the 20 period MA and the resistance trend line in the daily chart is a reliable resistance. The current USD bull drive is causing divergence of BB. Notice the increasing relative distance between close of candlestick and the middle BB in the daily chart. As alt coin prices trend lower, chances of price action hugging the lower BB is high.

As a fact, the surge in bear volumes yesterday as price action tested lows of $3.6 and effectively breaking down this major support line at $4.1 is enough confirmation of that possibility. If alt coin LSK continue to loss value and price close below support, then we enter short in the lower time frames tomorrow.

DASH ALT COIN PRICE CHART

DASHUSD alt coin prices chart
DASHUSD Daily Chart for 03.11.2017

Alt coin DASH value hangs at how price action will react at $250. $250 is a round number with significance both in the daily and weekly chart. In the weekly chart, $250 is a confluence point with the 20 period MA while in the daily chart, it marks the base of a bull flag. Either way, we expect a strong reaction at that zone.

Stochastics are moving lower with pin bars forming as DASH trend lower. Already, from the look of things, USD bulls are in charge as the 20 period MA has a negative slope and is acting as reliable resistance line. Notice how price action has been reacting to it over the past 2 weeks. All candlesticks are closing below this flexible resistance line.

It is also important to note how yesterday’s highs tested the minor resistance, previous support, trend line at $308. I recommend short entries in the lower time frames. For trend traders, a break and a close below $250 means we load our USD positions.

IOTA ALT COIN PRICE CHART

IOTUSD alt coin prices chart
IOTUSD Daily Chart for 03.11.2017

After alt coin  IOTA broke below $0.38 on Wednesday, we expected a surge in USD bulls. Close below main support at $0.38 was significant. Anyhow, alt coin LSK closed as an inverted hammer but most importantly below $0.38 support line. That test also confirmed a double bottoms reversal pattern with retests of October 21 lows at $0.31 in the lower time frames.

For bear pressure to continue, then price action needs to trend lower despite yesterday’s bear pin bar. If alt coin IOTA bulls jump in, then today may end up as bullish concluding a 3 day reversal pattern called the Morning Star.

MONERO ALT COIN PRICE CHART

Monero alt coin prices chart
Monero Daily Chart for 03.11.2017

For the 47th trading day, alt coin Monero is find strong support at $75-$80. Even though the trend has a bearish skew, we have to wait for strong confirmation of USD bulls trigger sells. In the weekly chart, the same support range as in the daily chart and the 20 period MA is of important significance. Stochastics is bearish and swinging from overbought territory meaning we continue to sell in lower time frames including the daily chart.

However, in the daily Monero alt coin trading chart, stochastics are trending in the oversold territory. Because of this, we shift our attention to price action reaction at the 20 period MA resistance line.

My view is that, the minor support trend line and the middle BB will remain resistance as long as price action continue to close below them. For now, intraday traders should look to sell in lower time frames.  Swing or trend traders should wait for a clear trend before initiating positions. That will happen if there is a break out and close above/below this BB squeeze.

NEO ALT COIN PRICES CHART

NEOUSD alt coin prices chart
NEOUSD Daily Chart for 03.11.2017

Two things to note. Daily and weekly NEO trading charts are bearish. Secondly, the main support trend line at $24 was broken through yesterday. Because of these two development, a break out trade pattern is in play. Notice the break out on October 20 and a consequent retest of resistance on October 25 and 31 highs. USD bulls should aim at September 14 lows of $14.

All charts courtesy of Trading View

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Bitcoin scams ‘getting more sophisticated’ as value of cryptocurrency tops $9200 – ABC Online


ABC Online

Bitcoin scams ‘getting more sophisticated’ as value of cryptocurrency tops $9200
ABC Online
After just getting home from an overnight shift, Jason Hall wanted to make a quick bitcoin trade before getting some much-needed rest. But scammers had manipulated Google search results for his trading site, and within minutes his real account had been …


ABC Online

Bitcoin scams 'getting more sophisticated' as value of cryptocurrency tops $9200
ABC Online
After just getting home from an overnight shift, Jason Hall wanted to make a quick bitcoin trade before getting some much-needed rest. But scammers had manipulated Google search results for his trading site, and within minutes his real account had been ...

DASH/USD and LTC/USD Technical Analysis November 3 2017

DASH/USD DASH continues to be volatile, as we have been drifting lower overall. However, it is a very slow descent, so I think that it’s only a matter of time before the buyers get involved and push this market to the upside. The $300 level above is massive resistance, and if we can break above … Continue reading DASH/USD and LTC/USD Technical Analysis November 3 2017

The post DASH/USD and LTC/USD Technical Analysis November 3 2017 appeared first on NEWSBTC.

DASH/USD

DASH continues to be volatile, as we have been drifting lower overall. However, it is a very slow descent, so I think that it’s only a matter of time before the buyers get involved and push this market to the upside. The $300 level above is massive resistance, and if we can break above there, then it becomes a massive “buy-and-hold” situation. The market should then go much higher, but I recognize that the $250 level is trying to offer support. However, you need to be very cautious and patient with the market to turn around and show buyers the way forward.

LTC/USD

Litecoin fell significantly, but found support at the $50 level as I thought it could. Because of this, I think it’s time to perhaps dip your toe into the water, as we should see a significant amount of support just below, that doesn’t mean that it’s going to be an easy move to break to the upside, but I think we eventually get that. The longer-term investor should be attracted to Litecoin in this general vicinity.

Thanks for watching, I’ll be back on Monday.

The post DASH/USD and LTC/USD Technical Analysis November 3 2017 appeared first on NEWSBTC.

Ripple Price Technical Analysis – XRP/USD’s Bounce is Real?

Key Highlights Ripple price bounced sharply after testing the $0.1800 handle against the US Dollar. There was a break above a bearish trend line at $0.1940 on the hourly chart of the XRP/USD pair (data source from Kraken). The price traded towards $0.2200 before running into strong sell offers. Ripple price recovered well intraday against … Continue reading Ripple Price Technical Analysis – XRP/USD’s Bounce is Real?

The post Ripple Price Technical Analysis – XRP/USD’s Bounce is Real? appeared first on NEWSBTC.

Key Highlights

  • Ripple price bounced sharply after testing the $0.1800 handle against the US Dollar.
  • There was a break above a bearish trend line at $0.1940 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The price traded towards $0.2200 before running into strong sell offers.

Ripple price recovered well intraday against the US Dollar and Bitcoin. XRP/USD is back above $0.1950, but struggling to hold gains.

Ripple Price Support

Yesterday, we saw the start of a new downside move with a break of the $0.1950 support in Ripple price against the US Dollar. The price extended declines and traded towards the $0.1800 level. A low was formed at $0.1800 before the price started an upside move and bounced sharply. During the bounce, there was a break above a bearish trend line at $0.1940 on the hourly chart of the XRP/USD pair.

More importantly, the pair was able to move above the $0.1950 level and the 100 hourly simple moving average. The upside move was strong as there was a break above the $0.2100 resistance. A high was formed at $0.2199 from where the price started a sharp downside correction. It has already breached the 50% Fib retracement level of the last wave from the $0.1800 low to $0.2199 high. However, it is approaching a major support area near $0.1950 and the 100 hourly SMA.

Ripple Price Technical Analysis XRP USD

There is also a bullish trend line at $0.1960 and the 61.8% Fib retracement level of the last wave from the $0.1800 low to $0.2199 high at $0.1954. Therefore, once again the $0.1950-0.1960 levels would act as a strong support. The price must stay above $0.1950 to bounce back or it might again test the $0.1850-00 levels.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is placed well above the 50 level.

Major Support Level – $0.1950

Major Resistance Level – $0.2100

 

Charts courtesy – Trading View, Kraken

The post Ripple Price Technical Analysis – XRP/USD’s Bounce is Real? appeared first on NEWSBTC.

Big Investors Are Taking Sides in Bitcoin’s Bubble Debate – Bloomberg


Bloomberg

Big Investors Are Taking Sides in Bitcoin’s Bubble Debate
Bloomberg
Whether you’re a backer or a detractor, what’s not in doubt is bitcoin’s dizzying rally this year. The most widely used digital currency crossed the $7,000 mark on Thursday and is up more than 650 percent in 2017. It’s managed to whip past the $100
Credit Suisse CEO Has No Appetite for Bitcoin, Cries “Bubble”Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)
Banks are staying away from bitcoin ‘bubble’ due to money laundering, Credit Suisse CEO saysCNBC
Credit Suisse CEO: Bitcoin the ‘Very Definition of a Bubble’CoinDesk
Economic Times –Reuters –Kitco News –City AM
all 79 news articles »

Bloomberg

Big Investors Are Taking Sides in Bitcoin's Bubble Debate
Bloomberg
Whether you're a backer or a detractor, what's not in doubt is bitcoin's dizzying rally this year. The most widely used digital currency crossed the $7,000 mark on Thursday and is up more than 650 percent in 2017. It's managed to whip past the $100 ...
Credit Suisse CEO Has No Appetite for Bitcoin, Cries “Bubble”Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)
Banks are staying away from bitcoin 'bubble' due to money laundering, Credit Suisse CEO saysCNBC
Credit Suisse CEO: Bitcoin the 'Very Definition of a Bubble'CoinDesk
Economic Times -Reuters -Kitco News -City AM
all 79 news articles »

KICKICO is burning more than 40 million of its tokens

The platform for fundraising and crowd-investing KICKICO, after having successfully raised more than $25 million dollars this past September, is going to destroy millions of tokens. After this campaign and limited emission (458 million tokens instead of the 750 million planned), there will be 50% less KickCoins on the market than what was expected. According … Continue reading KICKICO is burning more than 40 million of its tokens

The post KICKICO is burning more than 40 million of its tokens appeared first on NEWSBTC.

The platform for fundraising and crowd-investing KICKICO, after having successfully raised more than $25 million dollars this past September, is going to destroy millions of tokens. After this campaign and limited emission (458 million tokens instead of the 750 million planned), there will be 50% less KickCoins on the market than what was expected.

According to the KICKICO white paper, the unsold and unallocated KickCoins will be frozen on a smart-contract without the possibility of their subsequent withdrawal or use. Therefore, over 42 million KICK tokens will be burned. The KickCoins issue was pre-programmed and will be implemented in accordance with the KickCoins Release Plan to protect the price of KICK from speculative risks,, distributing additional tokens every month until September, 2019. For instance, in November 2017, the bonus for all KickCoin holders will be 2%, and in December the bonus will only be 1%.

KICK tokens are needed to use the KICKICO platform. They are used as payment for feedback from community members, the moderation of projects, the creation of smart contracts, as a place in the platform digest, as payment for translators and proofreaders, the purchase of virtual gifts, and much more. At the moment KICK tokens are also accepted as a payment by the startups Gameflip, Universa, and several others.

KickCoin, as well as Ethereum, is used as a currency for fundraising on kickico.com.

“Our most important strategic task on the post-ICO phase is the stability of KICKONOMY and the exchange rate of our token,” Anti Danilevski, the CEO of KICKICO, said. “Fortunately, we have already issued 40% less tokens that was expected: 458 million instead of 750 million, because the less tokens are on the market, the faster demand will be formed. And we will continue to decrease the amount of tokens, burning the tokens we have received as platform commission and etc. I expect that during 2018 we will burn 20% more of the token emission. Nowadays, we are destroying unallocated tokens from PR pool, bounty pool and additional pool. It is the right decision, we promised to do it to our backers to maintain a stable demand for KickCoin. After the burn, all actors will win: token holders, host projects, and service itself.”

At the moment, KickCoin is traded on 6 crypto-exchanges like Exmo, EtherDelta, HitBTC, etc. The daily total turnover exceeds $150,000.

Maintaining a stable token exchange rate and listing it on cryptocurrency exchanges is a challenge for many blockchain startups that have successfully raised sufficient funds in the ICO. The absence of a token on the exchanges for several months after the crowdsale raises alarm bells for crypto investors.

 

The post KICKICO is burning more than 40 million of its tokens appeared first on NEWSBTC.

Finance Bigwig Mohamed El-Erian Says Bitcoin Is a Commodity – CoinDesk


CoinDesk

Finance Bigwig Mohamed El-Erian Says Bitcoin Is a Commodity
CoinDesk
A former CEO and co-chief investment officer of fixed-income powerhouse PIMCO, El-Erian had previously said in September he believed bitcoin was overvalued, and that its price may reflect an assumption that the cryptocurrency will be adopted widely.
The bitcoin bubbleThe Economist (blog)
Who’s laughing as Bitcoin surges to all time high?News24
Big Investors Are Taking Sides in Bitcoin’s Great Bubble DebateBloomberg

all 21 news articles »


CoinDesk

Finance Bigwig Mohamed El-Erian Says Bitcoin Is a Commodity
CoinDesk
A former CEO and co-chief investment officer of fixed-income powerhouse PIMCO, El-Erian had previously said in September he believed bitcoin was overvalued, and that its price may reflect an assumption that the cryptocurrency will be adopted widely.
The bitcoin bubbleThe Economist (blog)
Who's laughing as Bitcoin surges to all time high?News24
Big Investors Are Taking Sides in Bitcoin's Great Bubble DebateBloomberg

all 21 news articles »

PR – Confideal ICO Has Started, Time to Contribute to Success!

confideal launchedConfideal, a smart contract platform on Ethereum blockchain (confideal.io), are excited to announce that their long-awaited ICO has started today – November 2 at 12:00 noon Central European Time (CET). The campaign is expected to raise 70,000 ETH, which equals 21.5 million U.S. dollars as of this day. Confideal’s ICO features a generous incentive program that enables early investors to receive a 25% bonus in CDL tokens. The token generation event will last for 20 days. Confideal’s Achievments Confideal has been working tirelessly to develop an easily to use platform that will deliver maximum value to its users. To that

confideal launched

Confideal, a smart contract platform on Ethereum blockchain (confideal.io), are excited to announce that their long-awaited ICO has started today – November 2 at 12:00 noon Central European Time (CET).

The campaign is expected to raise 70,000 ETH, which equals 21.5 million U.S. dollars as of this day. Confideal’s ICO features a generous incentive program that enables early investors to receive a 25% bonus in CDL tokens. The token generation event will last for 20 days.

Confideal’s Achievments

Confideal has been working tirelessly to develop an easily to use platform that will deliver maximum value to its users. To that end, they have entered into several strategic cooperative agreements designed to deliver increased security and data integrity, more flexible payment capabilities, and expanded features and functionality. To achieve that Confideal has partnered and cooperated with 13 companies. Moreover, Confideal works with 12 external advisors in their board. Thus, it all results in a very productive workflow and development.

Confideal has more than 80,000 subscribers in total on all of their social medias as well as 5000 subscribers-contributors on their website.

Confideal has had a huge amount of positive feedback on medias related to investments, crypto and technology. You can find the list on the website.

About Confideal

Confideal enables businesses and individuals to create Ethereum smart contracts though a user-friendly interface that requires no programming skills. A fully functional version of the platform is already available and currently supports two-party interaction, like conventional agreements. The team is already working on more complex scenarios that will include multi-party transactions and contracts that are triggered by data from third-party services (for example, freight companies) and various devices (Internet of Things integration). One of the features that are listed on the project’s roadmap, the arbitration module, is expected to be rolled out early 2018.

The platform is targeting multiple sales channels and the business model includes C2C and B2C interactions (transactions between individuals and between a business and a customer), as well as B2B and B2B2C (contracts that involve multiple business participants and customized complex use cases for large eCommerce companies that sell goods and services to consumers). The monetization model is currently based on a flat 1% fee (waived for CDL token holders who pay in tokens), but the pricing principles may be adjusted in the future.

In multiple independent ICO reviews, Confideal’s campaign has been highly rated, evaluated as “stable” and recommended to long-term investors (ICOrating.com, ICObench.com, ICObazaar.com).

For more information about Confideal, please visit the website or chat with the team in Telegram.

Secure and Safe to Invest ICO

In an effort to reduce fraud and encourage responsibility and accountability in the token market, smart contract management platform Confideal has announced the start of their transparency initiative. A hash (which is sometimes called “digital fingerprint”) of the project’s whitepaper PDF file will be saved inside the ICO smart contract as a read-only variable and will be available on Etherscan.

During the ICO and continuing after its conclusion, the PDF file itself will be available for download at Confideal’s website, which will enable any user to calculate the hash of the file long after ICO and compare it against the hash inside the ICO smart contract. If so much as one byte is changed, the hashes will not match. Along with ensuring the integrity of the ICO’s main document, Confideal will be maintaining a special webpage where reports on the project’s ongoing progress will be published.

Time to invest into success!

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

BTC/USD and BTC/JPY Technical Analysis November 3 2017

BTC/USD Bitcoin rallied a bit after initially dropping on Thursday, showing signs of continuing the explosive move higher, as we have now exited the up-trending channel and look to be a bit overbought. I think that short-term pullback should continue to be buying opportunities, as the $6800 level should offer support. I would love to … Continue reading BTC/USD and BTC/JPY Technical Analysis November 3 2017

The post BTC/USD and BTC/JPY Technical Analysis November 3 2017 appeared first on NEWSBTC.

BTC/USD

Bitcoin rallied a bit after initially dropping on Thursday, showing signs of continuing the explosive move higher, as we have now exited the up-trending channel and look to be a bit overbought. I think that short-term pullback should continue to be buying opportunities, as the $6800 level should offer support. I would love to see some type a pullback though, in order to pick up value.

BTC/JPY

Bitcoin has also reached my target against the Japanese yen, reaching towards the ¥820,000 level. Now that we reach this area and formed a massive shooting star and the 4-hour chart, I think that it is only a matter of time before a pullback. I am more than willing to buy that pullback when it happens. The ¥700,000 level should be the floor in the uptrend going forward.

Thanks for watching, I’ll be back on Monday.

The post BTC/USD and BTC/JPY Technical Analysis November 3 2017 appeared first on NEWSBTC.

Bitcoin May Change it All: Brief History of Interest, Inflation – Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)


Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)

Bitcoin May Change it All: Brief History of Interest, Inflation
Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)
Interest is a subject with a very chequered history that today works hand-in-hand with inflation to control the world’s major economies. The story of interest is as old as that of money, but recently digital currencies have begun to add a major wrinkle.


Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)

Bitcoin May Change it All: Brief History of Interest, Inflation
Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News)
Interest is a subject with a very chequered history that today works hand-in-hand with inflation to control the world's major economies. The story of interest is as old as that of money, but recently digital currencies have begun to add a major wrinkle.