Day: November 3, 2017

Even though the Bitcoin Cash price rise makes little sense to most people, things continue to evolve in an interesting decision. It seems there is some genuine buzz regarding the upcoming hard fork for this altcoin. This should make BCH more mature and appealing to investors, while also removing controversy associated with the mining difficulty algorithm. Right now, the Bitcoin Cash price hovers around $670.

Bitcoin Cash Price Continues to Shock the World

It is an interesting week for all cryptocurrencies, to say the very least. Whereas the Bitcoin price is dominating most of the headlines, the Bitcoin Cash price trend can’t be overlooked either. More specifically, this momentum continues to surprise a lot of people, which is only normal. Not too long ago, one BCH was worth just $350, whereas it is now valued at $670. Such a massive growth isn’t unprecedented, but it comes at a time few people expected it to happen.

That being said, the Bitcoin Cash price momentum is still going strong as we speak. About 24 hours ago, we saw the price fail to reach $600. Although these temporary dips aren’t entirely unexpected, there is always the question of whether or not they herald a major retrace. So far, the Bitcoin Cash price hasn’t seen a major correction just yet, as the uptrend is still in full effect as we speak. In fact, the price keeps climbing, which will please a lot of early investors.

Over the past 24 hours alone, we have seen the Bitcoin Cash price increase by another 16.34% in USD value. Moreover, BCH keeps gaining on BTC as well, as the value is back to over 0.09 BTC thanks to another 10.39% increase. Achieving gains in both departments is pretty impressive for any altcoin, especially when it is Bitcoin Cash. Then again, no one knows how long this trend will continue for, as there are still a lot of questions which need to be answered.

For the time being, the Bitcoin Cash trading volume is nothing short of impressive. With over $2bn in volume over the past 24 hours, Bitcoin Cash is generating more volume than most other altcoins combined. That in itself is pretty impressive, to say the very least. It is quite remarkable how everyone is flocking to either Bitcoin or Bitcoin Cash right now, rather than established altcoins such as Ethereum or Litecoin. It is certainly possible this is only a temporary trend, although it is impossible to predict how things will evolve in the next few days and weeks.

Similarly to most days, Bithumb is still the place to be when it comes to buying and selling BCH. With over $1bn in trading volume, this exchange is clearly dominating the landscape. No over exchange comes even close, as the second and third platform by trading volume generates less than one-fifth of Bithumb’s volume. This situation seems difficult to maintain for much longer, although it remains to be seen if any negative impact will follow in the coming weeks.

In the end, one has to keep in mind how there is a lot of speculation associated with the current Bitcoin Cash price trend. Speculators are making a lot of good money in this regard, although there always need to be people willing to buy this altcoin whatsoever. Until BCH has the appeal Bitcoin has from a usability perspective, it remains to be seen how high this value can go in the future. A new all-time high isn’t out of the question either, though.

So here’s a look at what we’re going to do in the bitcoin price today. We’ve had a pretty darn good week so far, with price serving up a great combination of volatility and upside momentum. In many ways, that’s the perfect combination as it allows us to jump into plenty of breakout trades while also being able to stay in the trades for a sustained run.

If we get a continuation of this sort of action today, we can close out the week on a high.

Of course, if we don’t then we can adapt our strategy to ensure we don’t miss out on any potential opportunities just because we’re focusing too much on ideal positions.

So, with this all noted, let’s get some levels in place that we can use to jump in and out of the markets during the session today, whatever happens. As ever, take a quick look at the chart below before we get started. It’s a one-minute candlestick chart and it’s got our key range in green.

As the chart shows, the range we are going to use for the session today comes in as defined by support to the downside at 7327 and resistance to the upside at 7499. That’s a pretty wide range that we’ve got for today, so we can use intrarange if we get an opportunity. Long on a bounce from support, short on a correction from resistance.

For our breakout strategy, we’ll be jumping in long towards an immediate upside target of 7550. A stop on the trade at 7475 looks good.

Looking the other way, if we get a close below support, we’re going to get in short towards a downside target of 7280. A stop on this one somewhere in the region 7345 will ensure we are taken out of the trade in the event of a bias reversal.

Charts courtesy of Trading View

The post Bitcoin Price Watch; Looking For A Strong End To The Week appeared first on NEWSBTC.

After breaking the previous level at US$6200, Bitcoin continues to push all-time highs in both price and market capitalization, which now stands at $120 billion. Bitcoin 24 hour trade volume has now eclipsed the market capitalizations of all other alt coins except for Bitcoin Cash, Ethereum, and Ripple.

Cryptocurrency miners are always looking for the most profitable coin. For a lot of people, that has been Bitcoin, as far as SHA-256 mining is concerned. As of right now, it is far more profitable to mine Bitcoin Cash. According to Fork Lol, this situation may continue for quite some time to come. Given the SegWit2x drama on the horizon, a lot of things will change by the look of things.

A lot of people will always mine Bitcoin first and foremost. It is the world’s leading cryptocurrency now and will be for some time to come. Moreover, it is the only coin that gives people access to nearly all “airdrops” of forked coins that may matter in the end. Without Bitcoin, no one would have BCH, BTG, or soon B2X. It is evident the world’s leading cryptocurrency still has a lot of momentum in its favor. However, there is some competition emerging as we speak.

Bitcoin Cash Mining is More Profitable

Most of this competition comes from Bitcoin Cash right now. This particular altcoin has soared in value over the past week. No one knows why exactly, but it is the hand we’re dealt. This has also affected the mining profitability of both BTC and BCH. More specifically, it is now more profitable to mine Bitcoin Cash cover BTC. Although this situation changes a lot lately, the current trend may remain in place for some time to come.

Fork Lol seems to indicate BCH mining will remain more profitable for some time. More specifically, the seven-day average has flipped in favor of BCH. Although this situation hasn’t been locked in yet, it is a very real possibility. Even at a rate of 1.06 times the normal BTC earnings, some miners will be tempted to make the switch. Interestingly enough, this trend seems to manifest itself close to the Bitcoin Cash hard fork itself. That fork will introduce some changes to the current mining difficulty algorithm.

For the time being, no one knows how things will play out. Bitcoin is on everybody’s mind right now, that much is evident. The current price momentum clearly favors BTC as well. However, BCH is making a very strong comeback out of the blue. There are some interesting changes on the horizon, to say the very least. A profitability change and SegWit2x near the same time will shake things up quite a bit. It is unclear how this will affect Bitcoin as a whole, though. The next few weeks will be extremely interesting to keep an eye on.

The post Mining Profitability may Permanently Turn in Favor of Bitcoin Cash appeared first on NEWSBTC.

Latin American financial regulator, the Superintendencia Financiera de Colombia, has become the latest member of the R3 blockchain consortium.

MicroMoney ANNOUNCES STRATEGIC PARTNERSHIP with VOISE
Blockchain credit bureau for the unbanked MicroMoney is announcing a partnership deal with decentralized music platform VOISE. The platform allows artists to monetize on their work in a collaborative P2P marketplace. Musicians can set prices, post sample tracks and seek support from music enthusiasts. MicroMoney will offer VOISE its sophisticated crypto-payment system and unique scoring model based on AI algorithms, machine learning, and Big Data analytics. VOISE and MicroMoney share the same social mission of financial inclusion. There are many talented artists from every part of the world, including Asian emerging markets. Thanks to the new partnership, they can enjoy the benefits of financial services and receive payment for their music.

The post VOISE and MicroMoney became partners for equal opportunities for everyone (in review) appeared first on NEWSBTC.

Goldman Sachs CEO Lloyd Blankfein has said that he has not comfortable with bitcoin, but he is open to the cryptocurrency.

Bitcoin’s legitimacy took a huge step forward this week, and unsurprisingly, the market reacted with a busting run to over $7,000.

Key Highlights

• Ethereum classic price fell below the $10.00 handle recently against the US Dollar.
• There is a major bearish trend line forming with resistance at $10.40 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
• The pair is struggling to break the $10.40-10.50 resistance and remains at risk of more declines.

Ethereum classic price struggle to move higher continues against the US Dollar and Bitcoin. ETC/USD is facing a major resistance near $10.40-10.50.

Ethereum Classic Price Resistance

There was a downside reaction towards $10.00 in ETC price against the US Dollar. The price even broke the $10.00 handle and traded as low as $9.70. Later, the price started an upside correction and traded above the 23.6% Fib retracement level of the last drop from the $11.00 high to $9.70 low. However, buyers were seen struggling near the $10.40 resistance, which was a support earlier.

There was a rejection near the 50% Fib retracement level of the last drop from the $11.00 high to $9.70 low at $10.35. Above $10.35, there is a major bearish trend line forming with resistance at $10.40 on the hourly chart of the ETC/USD. More importantly, the 100 hourly simple moving average is also near the $10.45 to prevent upsides in the near term. A close above the 100 hourly SMA and the $10.40 level is required for buyers to gain control in the near term.

The most important resistance on the upside is at $11.00, which a crucial pivot region. On the downside, the $10.00 level is a good support followed by the recent low of $9.70. Below the mentioned $9.70, the pair might head towards the next major support at $9.20. Overall, ETC remains a short-term sell near $10.40 and $11.00.

Hourly MACD – The MACD is slightly in the bullish zone.

Hourly RSI – The RSI is moving north and is above the 50 level.

Major Support Level – $10.00

Major Resistance Level – $10.40

Charts courtesy – Trading View, Kraken

The post Ethereum Classic Price Technical Analysis – ETC/USD Downtrend Intact appeared first on NEWSBTC.

The Isle of Man has approved a gaming license for an ethereum-based lottery from a company called Quanta.