Day: December 16, 2017

Key Points

• Bitcoin cash price is trading with a positive bias and is placed well above the $1500 level against the US Dollar.
• There is a key bullish trend line forming with support at $1750 on the 4-hours chart of BCH/USD (data feed from Kraken).
• The pair might continue to trade higher above $1800 and $1900 in the near term.

Bitcoin cash price is placed nicely above $1700 against the US Dollar. BCH/USD may soon break the $1900 level to challenge the $2000 level.

Bitcoin Cash Price Trend

There was a good upside wave in bitcoin cash price from the $1300 swing low against the US Dollar. The price was able to move above the $1500 and $1700 resistance levels. The upside move was strong as the price traded above the $1950 resistance level. It traded as high as $1997 from where a correction wave was initiated. It has moved below the 23.6% Fib retracement level of the last wave from the $1201 low to $1997 high.

However, there are many support levels on the downside such as $1700 and $1750. There is also a key bullish trend line forming with support at $1750 on the 4-hours chart of BCH/USD. The trend line support is just above the 38.2% Fib retracement level of the last wave from the $1201 low to $1997 high. Moreover, the $1675 pivot area could also act as a strong support in the near term. Therefore, it won’t be easy for sellers to push the price below $1700.

On the upside, the recent high at $1997 is only a short-term resistance. The pair might soon break the stated level and trade above $2000 during the coming sessions.

Looking at the technical indicators:

4-hours MACD – The MACD for BCH/USD is slightly in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 50 level.

Major Support Level – $1700

Major Resistance Level – $2000

Charts courtesy – Trading View, Kraken

The post Bitcoin Cash Price Weekly Analysis – BCH/USD To Break $2000? appeared first on NEWSBTC.

The DIM Ecosystem has expanded further with the launch of DIMPAY, an instant, borderless and decentralized payment system based on NEM blockchain technology. DIMPAY aims to facilitate cashless transactions for consumers and merchants, along with providing a potential financial solution for the 2 billion individuals worldwide without access to bank accounts.

DIMPAY is specifically developed to facilitate the generating of invoices, tracking of inventory, making payments and much more. The use of DIMPAY will eliminate numerous payment errors as the use of NEM blockchain technology makes this platform less expensive and instantaneous, mainly directed at peer-to-peer, business-to-business, consumer-to-business and business-to-consumer transactions.

Consisting of the DEPOTWALLET web-app, the mobile-app and the DIM Debit Card, this payment platform will allow users to buy, sell, hold and manage cryptocurrencies and cryptonized assets in a secure manner. Additionally, the DIM Debit Card will allow consumers to engage in e-commerce and walk-in purchases within the mercantile sector. All while the consumer is in full control of his finances at all times, trusting that strong fraud protection and illegal activity measures have been implemented accordingly.

DIMPAY further makes use of a QR code, enabling customers to make purchases and merchants to receive payments utilising anonymous accounts. Accounts that can also not be blocked or frozen, as with many other payment systems. Moreover, the DEPOTWALLET Business Account is accessed through scanning the QR code with a mobile device instead of applying the common one dimensional barcode system.

According to Cisco’s Global Mobile Data Traffic Forecast Update, global mobile traffic acquired a growth of 63% in 2016 reaching heights of 7.2 exabytes (7.2 billion gigabytes) per month. This went up from 4.4 exabytes per month at the end of 2015. Further growth is expected, 49 exabytes by 2021 to be exact, while mobile devices will represent 20% of the total IP traffic with smartphones accounting for over 50% of global devices and networks.

As mobile devices continue to increase in popularity, the adoption of QR codes and mobile payments will increase. DIMPAY is positioning itself to reap the rewards of this anticipated mobile usage boom.

The DIMPAY Foundation is a stand-alone company that is not associated directly with the DIM Foundation. It is the first step towards a decentralized idea of the DIM Ecosystem.

Latest message from Richard Lendrum on DIMCOIN being listed:

Journeys are a series of steps, and business journeys are no different. A historic step for the DIM Ecosystem is the 18th of December. This is the day we list DIMCOIN and open the process of free market trading of the cryptocurrency.

4 months after the inaugural DIMCOIN ICO – members of the DIM Community will be able to fulfil what was promised – the freedom to buy and sell DIMCOIN on an independent exchange.

Our original plan was to have 2 exchanges by end Q4 and while this has not waivered – the second (and third) exchange will only come online in early next year.

For now – the countdown is on. We welcome you all onto the next step of our game changing Ecosystem as we invite you to trade freely.

ICO Dates: 4 December (00:00 CET) – 18 December (23:59 CET) 2017

Purchase: DIMCOIN

Maximum ICO Target: 1,500 BTC

Further Information:

DIMCOIN is going to be on exchanges on the 18th of December!

Social Media Links:
Website

Link: https://www.dimpay.io/

Facebook

Link: https://www.facebook.com/DIMPAYICO/

Twitter

Link: https://twitter.com/DIMPAY_ICO

Youtube

Link: https://www.youtube.com/watch?v=BCkQoMfEwt4&feature=youtu.be

Media Contact

Richard Lendrum ([email protected])

Head of Communication

Johannesburg, South Africa

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.

Key Points

• Bitcoin price is gaining pace once again and is currently trading above $18,000 against the US Dollar.
• There is a monster bullish trend line forming with support at $17,000 on the 4-hours chart of BTC/USD (data feed from SimpleFX).
• The pair is moving higher and it might soon break the $20,000 level for more gains in the near term.

Bitcoin price is surging higher towards $20,000 against the US Dollar. BTC/USD might soon break the $20k level and gain further traction in the near term.

Bitcoin Price Trend

There were nasty gains in bitcoin price above the $16,000 level against the US Dollar. After a major correction, the price found support above $15,000. Later, buyers gained momentum and were able to push the price above the $17,000 level. It opened the doors for more gains and the price was able to trade to a new all-time high above $19,000. The recent high was $19,426 and it seems like the current upside move is far from over.

During the upside move, the price was able to break a major connecting resistance trend line at $18,000 on the hourly chart. The current price action is positive above $17k and it seems like the price might continue to move higher. On the downside, an initial support is around the 23.6% Fib retracement level of the last wave from the $15,590 low to $19,426 high. Moreover, the broken trend line at $18K could act as a strong support in the near term.

Moreover, there is a monster bullish trend line forming with support at $17,000 on the 4-hours chart of BTC/USD. Therefore, the current trend is very positive and the pair might accelerate above $20K in the near term.

Looking at the technical indicators:              

4-hours MACD – The MACD is gaining momentum in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI is reaching the overbought levels, but with no signs of a major correction.

Major Support Level – $17,000

Major Resistance Level – $20,000

Charts courtesy – SimpleFX

The post Bitcoin Price Weekly Analysis – BTC/USD Upside Drift Above $20,000 appeared first on NEWSBTC.

Key Highlights

• ETH price is trading higher and is placed well above the $650 support area against the US Dollar.
• There is a crucial bullish trend line forming with support near $680 on the 4-hours chart of ETH/USD (data feed via SimpleFX).
• The pair might continue to move higher and it might aim the next target as $780 and $800.

Ethereum price is back in the bullish zone against the US Dollar and Bitcoin. ETH/USD is gaining pace and is about to move higher towards $800.

Ethereum Price Trend

There was a nice upside move this past week above the $600 and $700 levels in ETH price against the US Dollar. The price traded as high as $758 before starting a downside correction. It traded lower sharply and tested the $620 support area and did not test the $600 handle. Later, buyers appeared and pushed the price above the 23.6% Fib retracement level of the last decline from the $758.24 high to $611.12 low.

The current price action is very positive and suggest more gains in ETH/USD in the near term above $650. There are decent technical signs forming and the price has already moved above the 50% Fib retracement level of the last decline from the $758.24 high to $611.12 low. There is also a crucial bullish trend line forming with support near $680 on the 4-hours chart of ETH/USD. Therefore, there are many supports on downside near $680 and $650 to act as a buy zone.

As long as the price is above $650, it would continue to move higher. The next upside target could be the recent high near $758. Above the mentioned level, the price might event trade above the $800 handle in the near term.

4-hours MACD – The MACD has slightly reduced the bullish slope, but it is still showing positive signs.

4-hours RSI – The RSI is currently well above the 50 level.

Major Support Level – $650

Major Resistance Level – $758

Charts courtesy – SimpleFX

The post Ethereum Price Weekly Analysis – ETH/USD is Back Bullish appeared first on NEWSBTC.

In its 152-page report, the FSOC stated that the virtual currencies are only utilized by a very small number of consumers and therefore pose no systemic risk.

EtherSport, an innovative online sports lottery platform based on blockchain technology an Ethereum smart contracts, is about to finish it’s ICO. EtherSport has created a unique kind of lottery, contrary to many similar services, not based on guessing random numbers, but involving the exact determination of sports events results, which cannot be influenced by anyone. This means that players can leverage their analytical skills, to generate immense profits. You can still take part in the last, 4th, stage of the ICO and receive the 50% bonus.

EtherSport, the sports prediction platform, launches its MVP. This is a test product said to be rapidly updated with new functionality during the end period of the ICO. The interface as simple as possible, so there are no distracting factors. To predict the results in one line, just press on it, enter your predictions and press ‘Try.’ And that’s all, enjoy the sports and wait for the results!

During the early testing stages, testers are welcome to fulfill three lines a day, provided by EtherSport.

Currently, the MVP includes only the player interface and EtherSport official lines, but the independent Lotter capabilities and will be added soon.

The possibility to become a Lotter and create your own lines will be added later, after the best conditions for becoming a Lotter will be determined based on the gaming process and the appropriate functionality will be developed. These conditions will be developed in a way offering the best utilization of blockchain and smart contract technology, and to keep the amount of Lotters and their lines at an optimal point.

EtherSport announces a test net prediction competition. All registered participants are welcomed to predict the outcome of all lines to receive a prize in ESC tokens. 1st place will win 3000 ESC, 2nd will achieve 1500 ESC, and 500 ESC will be granted to the 3rd place.

Alex Tsymbal, CEO and Co-Founder of EtherSport:

‘During the ICO we have received several useful feedbacks from our investors. Now we can certainly say that we’re making a unique product for this market, which is fully open and decentralized. Our task was to create a simple and straightforward interface, so as much as possible people would be able to take part in the gaming process and make sure that our platform is easy and understandable. With the MVP launch we would like to make a gift to our users, so first 3 testers who will guess the most results will receive prizes from EtherSport.

We also offer an additional 50% bonus to all 4th stage ICO contributors, due to the rise of ethereum exchange rate. We make a product which is an interesting contribution for the investors and affordable for other players at the same time.‘

Currently, EtherSport runs its final, 4th stage of the ICO. The price of ESC token is 0.002 ETH, but every contributor is eligible for 50% bonus.

Visit the Ethersport Website here to learn more: https://ethersport.io

Visit the Ethersport MVP here: https://mvp.ethersport.io/

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.

The momentum behind the autonomous vehicle movement has been growing rapidly as the major technology vendors, and new players, seek to define the future of road transport. Given the volume of potential data and the critical nature of automated transport it will be essential to get cybersecurity policies, tools and responses right. It should be no surprise that many in the automaker community believe the blockchain is the answer. 

Shark Tank’s Kevin O’Leary: Uneducated investors will create a cocktail for disaster. Nevertheless, Bitcoin is an asset, if not a viable currency.

The opinions on the current state of Bitcoin are rather divided, to say the least. Some people think it’s doing well, whereas others grow increasingly worried. According to Crunchbase, Bitcoin is no longer a means of exchange. Instead, it has become slow, expensive, and anything but convenient. This is anything but a popular opinion, mind you, but there is some truth to this statement as well.

For a cryptocurrency with such a high market cap, Bitcoin lacks some basic functionality. Sending transactions is a bit of a gamble if it has to happen quickly. Including high fees is always an option but it shouldn’t even be necessary. Unfortunately, Bitcoin is no longer a means of exchange, according to Crunchbase. The value of the world’s leading cryptocurrency certainly doesn’t represent the state of the ecosystem. At the same time, these issues are nothing new under the sun either.

Crunchbase Doesn’t Like the Current State of Bitcoin

In its current form, Bitcoin is slow and expensive to use as a means of exchange. It makes for a worthwhile store of value, though. In fact, it may outperform any other financial asset in existence today in that regard. Crunchbase confirms Bitcoin shouldn’t be looked at a peer-to-peer version of electronic cash whatsoever. That situation may reverse again in the future, though. For now, it seems unlikely anything will change in the near future.

The first-mover advantage Bitcoin has is slowly eroding, to say the least. It is evident this cryptocurrency still has plenty of potential if something changes. Pushing down the fees will be very difficult until SegWit adoption increases or the Lightning Network comes around. Either of those outcomes is still months away, at best. The amount of money one pays for the speed of confirmations imply doesn’t add up. Crunchbase also touches upon the growing transaction backlog. It has been another problem for Bitcoin due to the lack of scaling.

Granted, one could easily adorable this to growing pains. It is evident Bitcoin is still maturing in front of our eyes. However, the currency has been around for many years. These issues have been known for many years as well. A lot of time was wasted due to political bickering over how scaling should work. The community eventually settled on a solution which has an adoption rate of under 15% months later. An uneasy situation, to say the very least

Header image courtesy of Shutterstock

The post Cruchbase Feels Bitcoin Lost Sight of Being a Medium of Exchange appeared first on NEWSBTC.