Day: November 30, 2017

When phishing sites tried to con investors during its recent ICO, Blockstack used its tech expertise to turn the tables on the tricksters.

Citadel’s CEO says people are jumping on Bitcoin bandwagon amid fears of missing out.

While most cryptocurrencies are still licking their wounds after suffering major losses, the Dash price is setting a new all-time high. It is remarkable to see how this is the only currency making any sort of positive impact amid the Bitcoin price correction. With the Dash price swiftly approaching $850, things will certainly get very interesting moving forward.

Another All-time High Dash Price

This past few week has been an extremely profitable rollercoaster for Dash holders. This popular altcoin saw its value rise from $540 all the way to over $800 in quick succession. One would expect altcoins to suffer a bit from all of the Bitcoin woes, but that is no longer the case whatsoever. In fact, the Dash price is actively bucking this negative trend in both USD and BTC value. That in itself is rather impressive, as no other cryptocurrency in the top 10 is in the green right now.

With the Dash price increasing by almost $300 in just a few days, there is an obvious reason for concern as well. it is true Dash has a very limited supply of coins which are available on the open market. A large amount of coins is locked up in masternodes, which provide valuable services to the Dash network. This means it doesn’t take much effort to move the market in any direction, and so far, it seems the Dash price rise is far from over.

Moreover, with the Dash price escaping any major corrections so far, it remains to be seen if things will remain so bullish. More specifically, we may see the Dash price suffer from a bigger correction compared to other currencies, but that is all mere speculation at this point. After all, Dash is still up by 25% in USD value and even 32.5% in BTC value. This is pretty remarkable, but all good things will come to an end sooner or later.

So far, the Dash trading volume is still pretty strong. With over $600m worth of Dash changing hands in the past 24 hours, it is evident people are more than willing to pay an arm and a leg for this currency. Whether or not they are buying to make money or effectively use this altcoin, is a question no one can answer right now. Then again, the same applies to pretty much any other cryptocurrency in existence as well.

Not surprisingly, the Dash trading volume is mainly originating from the Bithumb exchange. It has over 35.7% of all trading volume, which is a pretty interesting indicator. Bitfinex is the surprising second exchange on the list, followed by Poloniex. One would expect Bittrex to be more popular than Poloniex for altcoin trading, but it seems Dash may be one of the exceptions in this regard.

How all of this will play out for the Dash price in the future, remains to be determined. It is evident there is a lot of momentum in favor of this altcoin, even though this is merely based on speculation. Once the market turns sour, a massive retrace would not be out of the question whatsoever. Dash is one of the few currencies successfully decoupling itself from Bitcoin right now, but it remains to be seen if this is a permanent trend.

Nasdaq, the world’s second-largest stock exchange behind New York Stock Exchange, will be allowing Bitcoin futures trading by the middle of 2018. With a stock market worth $6.8 trillion Nasdaq is a behemoth among exchanges and reports that it will be opening up to crypto trading can only be good news for Bitcoin and its brethren.

A report on the Wall Street Journal revealed that Nasdaq and Cantor Fitzgerald & Co. will list BTC futures within the first half of 2018. With a recent price surge to $11,400 and an increase of over a thousand percent this year alone, Bitcoin has grabbed everyone’s attention. Sources familiar with Nasdaq’s plans claim that the two exchanges will list Bitcoin futures among Nasdaq futures on its NFX markets opening it up to traditional traders and investors. They also claim that the Nasdaq contracts are also designed to handle Bitcoin hard forks more elegantly by reinvesting proceeds from the split blockchain back into the original one in a way designed to make the process more seamless for traders.

The offering will pit Nasdaq against two competitors, CME Group Inc. and Cboe Global Markets Inc., both of which already announced plans to offer cryptocurrency derivatives sending the price of Bitcoin to record highs this month. Nasdaq is a beast for stock trading but relatively small for futures, both CME and CBOE are larger in that respect.

The move also makes NYSE owner Intercontinental Exchange Inc. the only one of the four major US exchange operators without public plans to offer Bitcoin derivatives. Observers say that an announcement could be in the pipeline.

Major US-based financial firm, Cantor, also revealed that it intends to launch Bitcoin futures and derivatives on its flagship exchange. CEO Shawn Matthews said this in an interview with the WSJ:

“The asset class is not going away. If you look at the next level, it will be the institutions coming in and being larger participants in the marketplace, especially as liquidity gets better.”

The US Commodities and Futures Trading Commission (CFTC) has already approved Cantor’s futures exchange. Other major exchanges including Nodal Exchange are also investigating the possibility of listing crypto-futures. The more the heavily regulated institutions get involved the more legitimacy can be awarded to cryptocurrencies which are largely viewed by old-school bankers and TV pundits as the wild west of trading and investing.

The post Nasdaq Joins the Bitcoin party, To Launch Futures in 2018 appeared first on NEWSBTC.

The IRS has mostly lost its position in the legal battle with Bitcoin exchange Coinbase.

Nobel prize-winning economist Joseph Stiglitz says that Bitcoin and other cryptocurrencies should be banned.

The vice president of the European Central Bank said yesterday that investors are taking a risk buying bitcoin at current high prices.

Cryptocurrency users on the Bitfinex exchange woke up to a nasty surprise. More specifically, a lot of margin traders have lost a good amount of money. Plenty of orders were liquidated at the bottom prices, although no one knows why. Some claim this is an error on behalf of the exchange, but that hasn’t been officially confirmed at this point. Rest assured a lot of users are not too happy about this development, though.

In most cases, Bitfinex users lost a lot of their account balances pretty quickly. It suddenly started to unravel several hours ago, yet the exact cause remains unknown. In fact, there are plenty of complaints to found on Twitter regarding these issues. Even stop-loss orders were liquidated at a much lower price than they should. This is unacceptable behavior by the exchange, to say the very least. Moreover, people would like to see an official explanation for this sudden odd occurrence.

More Bitfinex Issues to Worry About

More specifically, it remains to be seen if the company will refund users. Bitfinex has a bit of a troubled history when it comes to platform issues. They were hacked over a year ago, and the platform has seemingly never been the same ever since. This new “error” only makes this whole ordeal even more problematic. Throw in the allegations regarding Tether’s shenanigans and there is a powder keg waiting to explode. Using margin trading on any exchange is always a risk. Things like these can happen, which is why traders use stop-losses to minimize potential losses. In this case, that didn’t work out quite well.

@bitfinex You need to make this right – I just went from $100k to -$30k … refunds need to be made and owners made full. This is unacceptable. $NEO $OMG $ETP pic.twitter.com/HcPJlSF1Gk

— Brian (@biop3rl) November 29, 2017

Moreover, it doesn’t appear as if an actual market dump is to blame for all of this. The charts show a massive spike downward out of the blue. In most cases, this seems to hint at a glitch on the platform. Assuming that is the case, Bitfinex should have no issue refunding customers pretty quickly. It will be interesting to see if the company will do exactly that, though. With prices plummeting to steep lows in quick succession and bouncing back immediately, it is evident this isn’t normal behavior whatsoever.

It also seems this sudden “bug” affected a few different currencies. So far, we saw ETP, OMG, and NEO all suffer from similar issues at around the same time. For an exchange with such a vast amount of liquidity, it seems unlikely this was just a market dump. For now, speculation is running wild, yet there is no official evidence of any malicious activity. It will be interesting to see whether or not the company has an official explanation for this sudden development. So far, they have yet to issue an official statement.

The post Bitfinex Margin Traders get Liquidated for no Reason appeared first on NEWSBTC.

Bitcoin is on its way to smashing that new target causing Ronnie Moas to readjust for the third time in a month.

Amid criticism of its first security ceremony, zcash has made changes as it prepares for a fork. But has it done enough to silence the skeptics?

Key Highlights

• Ethereum classic price started a downside move and traded below the $28.00 support against the US Dollar.
• There is a major bearish trend line forming with resistance at $27.00 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
• The pair might struggle to move above $27.00 and $28.00 since these are important resistances.

Ethereum classic price declined recently against the US Dollar and Bitcoin. ETC/USD now faces many hurdles on the upside near $27.00-28.00 in the near term.

Ethereum Classic Price Resistance

There was a decent rise in ETC price above the $30.00 level against the US Dollar. The price traded as high as $32.05 before starting a downside move. There was a sharp increase in selling pressure and the price moved below the $30.00 and $28.00 support levels. It even traded below the $25.00 support and formed a low near $22.12. It later started an upside correction and moved above the 38.2% Fib retracement level of the last decline from the $32.05 high to $22.12 low.

However, the broken support near $27.00 is now acting as a resistance. The 50% Fib retracement level of the last decline from the $32.05 high to $22.12 low is also near $27.00. Moreover, there is a major bearish trend line forming with resistance at $27.00 on the hourly chart of the ETC/USD pair. Therefore, the $27.00-28.00 levels are very important for more gains in ETC.

A break above $28.00 is needed for ETC to retest the $30.00 level. On the downside, the $24.00 level is a decent support. However, the most important support is at $22.00, which is a pivot area. The price must stay above $22.00 to remain in the bullish zone.

Hourly MACD – The MACD for ETC/USD is slight in the bullish zone.

Hourly RSI – The RSI for ETC/USD is moving lower towards the 40 level.

Major Support Level – $22.00

Major Resistance Level – $28.00

Charts courtesy – Trading View, Kraken

The post Ethereum Classic Price Technical Analysis – Can ETC/USD Hold $22.00? appeared first on NEWSBTC.