Day: December 18, 2017

One of Japan’s largest used car automotive groups has partnered with the country’s largest cryptocurrency exchange Bitflyer to enable bitcoin payments at its dealerships across Japan. Starting with 26 dealerships, the company also plans to add bitcoin payments to 550 additional locations.

Also read: South Korea Clarifies Position After Reports of Possible Ban on All Crypto Transactions

Car Dealerships Accept Bitcoin Via Bitflyer

The Tokyo Stock Exchange-listed Idom Inc. engages in the distribution and sale of used cars. Formerly known as Gulliver International Co. Ltd, the company has been operating a network of stores that buy and sell used cars across Japan since 1994.

The company claims to have the largest market share for the domestic used car market, ranking number one in both sales volume and number of purchases. With a subsidiary in the U.S. and New Zealand, the group also holds a 67% stake in Australian new car dealer operator Buick Holdings Pty Ltd.

Idom announced last week that its specialty imported used car chain called Liberala will start accepting bitcoin on December 20. The chain specializes in Bentleys, BMWs, and Audis. This is in collaboration with Japan’s largest bitcoin exchange by volume, Bitflyer.

The 24 Liberala stores will accept bitcoin payments in amounts up to 100 million yen (~$888,000) per purchase. The stores are located in Hokkaido, Tohoku, Kanto, Chubu, Kansai, Chugoku / Shikoku, and Kyushu.

550 More Dealerships Could Be Next

Idom also owns the Gulliver brand, which currently has about 550 stores across Japan. Gulliver’s cumulative sales volume is 300,000 units and cumulative purchase volume is 3 million units, according to its website. Idom announced:

Experimentally, we will start to operate with Liberala, and then we are considering introducing it [bitcoin payments] to Gulliver stores, which [there] are approximately 550 stores nationwide.

Another Auto Group Accepts Bitcoin

Earlier this month, another used car automotive group called L’operaio started accepting bitcoin at three of its dealerships in Tokyo. Established in 1992, L’operaio specializes in luxury European imported cars.

The maximum amount that can be paid in bitcoin is 2 million yen (~$18,000) worth per purchase. Citing that both the cryptocurrency market and the number of bitcoin holders continue to grow, the company stated:

We decided to introduce bitcoin payments to improve customer convenience and to address this new market.

What do you think of Japanese car dealerships accepting bitcoin? Let us know in the comments section below.

Images courtesy of Shutterstock, Idom, and L’operario.

Need to calculate your bitcoin holdings? Check our tools section.

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StartupToken is back for the second Asia Road Show. An important December for our community and for us. We are again on our way to engage with our Asian network in crypto investment. Thanks to this tour, startups have the opportunity to meet their possible future token buyers. This is the ideal means of startup and investor to connect. Each startup will be able to receive a constructive feedback and adjust their token model. Project founders can also redefine some ideas, get a crowd sentiment, bring more transparency in what regards the importance of their ideas and gain more trust in the community which is essential to investors.

Panel discussions include evolvement of Blockchain and ICOs, the basics of the startup investments, and about the future of this disruptive technology and step more into StartupToken as an Accelerator. It will be a whirlwind week beginning the 18th of December in Singapore, the 19th in Hong Kong, Tokyo – December 20-21st and ending on the 22nd in Seoul, South Korea. These will be four intense days of sharing some amazing blockchain startup projects and engagement with the Asia crypto community.

Startups attending this round will be Sandblock, Academy School of Blockchain, Coinfirm and Zilla. Each will present their protocols and projects on topics ranging from Blockchain education to consumer rewards via token sales. Discussions will also include how crowd sales have overtaken venture capital as the main financial driver of innovation for Blockchain projects. It is mandatory to bring up the business innovation into token sales and ICO. As for each traditional company is important to network and inform its community before an IPO.

Talks will center around future development, about applicability, and transparency, while today’s “virtual business” still fails in customer engagement and loyalty programs, and there is a big need to change the world of Blockchain by bringing up creativity and simplicity for the use of platforms and cryptocurrencies, bring safety and trust, speak about possible risks and gaining in a world of digitalized business and crypto currencies.

The Asian Road Show is one of our steps and inputs in a better technological, Blockchain future, in a trustable ICO, and transparent relationship between the investors and their potential projects to invest in. Into young ideas and creative approach for a requiring technology.

Pitching startups:

-Sandblock — The Satisfaction Protocol

Sandblock is creating the first worldwide open coalition of merchants and customers using the advantages of cryptocurrencies and the underlying blockchain technology. Merchants offer more and more programs to gain customer loyalty yet, often returns are not met and consumer engagement is not ensured. On the flip side, consumers find these programs confusing and complicated to cash in on. The Sandblock project aims to solve these issues by leveraging blockchain technologies and creating the Satisfaction protocol, protocol based on the Ethereum blockchain where merchants create their own tokens and customers can enjoy exchangeable, autonomous rewards for their engagement and loyalty.”

Sarah-Diane Eck is an engineer at Sandblock and leads the marketing and business development of the project, she has been involved in the blockchain and startup community for several years and helped multiple successful startups to launch and develop their projects. She previously worked in investment banking, foundation creation and digital marketing. She is also specialized on legal matters regarding user data protection and the upcoming GDPR, foundations & charities, and the constantly evolving crypto assets regulations.

– Academy School of Blockchain

At Academy, you’ll learn to code Blockchain infrastructure at an online university. Choose to learn through an online curriculum or at an intensive boot camp in a city near you. Academy is a SACS accredited and SCORM compliant school, designed to deliver a dynamic and real-world online learning experience. There are a plethora of new online universities promising to teach around blockchain but with Academy, you can be sure that you are learning from some of the biggest leaders and well connected giants in the industry.

Dr. Moe Levin is the CEO of Keynote, an investor in high-tech startups, and an advisor to governments, regulators, banks, and venture-backed companies. Some of the projects he has been involved with include The Global Blockchain Council in Dubai (2015 — present) , the harmonized VAT treatment of Bitcoin (2013), The OECD Working Party 9 (2013–2014). Moe is also the Co-Founder of the first accredited Blockchain Academy, an early investor in RSK Labs, Labfresh, Dropbox, and others.

-Coinfirm the anti money laundering protocol

Coinfirm has been delivering an array of blockchain solutions and services for Fortune 500 companies, blockchain players, financial institutions and governments. Coinfirm provides business intelligence data on entities active on blockchain markets. They’ve investigated major exchange hacks, misappropriation of assets, and extortions related to blockchain transactions and have a team and tech to help solve such issues.

Maciej Ziolkowski, Director of AMLT and Co-founder of Coinfirm

Co-author of 3 books about Blockchain. An international pioneering virtual currency adopter, involved in the Bitcoin and Blockchain space since the early stages; a recognized writer and speaker on the subject and co-founder of the first Bitcoin establishment of its kind in Europe.

-Zilla the Amazon marketplace for ICOs

ZILLA has created an ICO purchasing platform. ZILLA will act as a gateway for Crypto enthusiasts to easily and safely participate in various vetted ICOs, while also allowing companies to do an ICO more effectively. ICO crowdsales are becoming more commonplace. With more than 1500 ongoing ICOs and counting, it is becoming overwhelming for buyers to keep track, compare, and verify various ICOs.

Abasa Phillips is also the founder of PRIMO, Pegapay, and PaySafe Japan Country Manager. Abasa is a payment industry and cryptocurrency veteran that has been involved in bitcoin since2011. He speaks English, Japanese, and Chinese and is highly skilled at working with regulators to strategically overcome regulatory pitfalls.

-Dether the over the counter, Ether marketplace

Dether offers the unique opportunity to have access to ether within minutes by using your phone and spending cash. Discover ether tellers, called tellers, near you on the Dether map, chat with them anonymously and buy ether safely, using your national currency. With Dether, any ether owner can become a teller and have an accessible way to make money. Ether sellers can become mobile ATMs by being on the Dether map and selling ether for fiat currency anywhere in the world at any time.

Hamid Benyahia has been involved in the Ethereum community since 2015, he has developed blockchain-based proof-of-concepts for top CAC40 companies and contributed to iExec blockchain startup as contractor. He has previously worked on blockchain-based international remittance solutions and advised blockchain startups, before founding Dether.

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The chief economist for Dutch banking giant ING believes bitcoin will likely wind up as a niche financial product, according to a new report.

Key Highlights

• Ripple price is moving higher once again and is currently above the $0.7500 support against the US Dollar.
• This is a short-term ascending channel forming with support at $0.7700 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair might continue to move higher and it could even break $0.8400 for more gains.

Ripple price is gaining pace against the US Dollar and Bitcoin. XRP/USD might continue to gain pace above the $0.9000 level in the near term.

Ripple Price Trend

It seems like Ripple price has completed a correction wave at $0.7000 against the US Dollar. The price has started a fresh upside wave and moved above the $0.7250 resistance. Buyers also succeeded in pushing the price above the 50% Fib retracement level of the last drop from the $0.9000 high to $0.6105 low. More importantly, the price is above the $0.7500 level and the 100 hourly simple moving average.

It recently traded as high as $0.8398 and is currently correcting lower. It seems like there is a short-term ascending channel forming with support at $0.7700 on the hourly chart of the XRP/USD pair. An initial support on the downside is around the 23.6% Fib retracement level of the last wave from the $0.6005 low to $0.8398 high. However, there are many supports on the downside such as $0.7700. The mentioned $0.7700 support also coincides with the 38.2% Fib retracement level of the last wave from the $0.6005 low to $0.8398 high.

A break above the channel resistance at $0.8400 is required for buyers to gain further momentum. Above $0.8400, the price could trade back towards the $0.9000 high in the near term.

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 heading higher towards the 70 level.

Major Support Level – $0.7700

Major Resistance Level – $0.8400

Charts courtesy – Trading View, Kraken

The post Ripple Price Technical Analysis – XRP/USD Uptrend Intact appeared first on NEWSBTC.

Blockchain technology is breaking away from the conventional fintech sector and switching to industries like telecom and auto. The world is at the feet of Blockchain. The IoT (Internet of Things), AI (artificial intelligence), VR (virtual reality) and Big Data have some connection to the crypto realm.

As far as the telecommunication industry is concerned, there’s no secret that the system is centralized, defective and obstinate because billing and distributing content can’t happen without extremely high transactional fees and fickle security around data transmission. Unlike a controlled telecom model, an open-source, decentralized system could solve the glitches and ensure a seamless end-user experience by leveraging the Blockchain to provide affordable, flexible and more secure data plans.

Open-source, decentralized telecom to the rescue

A controlled, centralized telecom system can’t guarantee the privacy of the user. Security breaches in the digital realm are the norm these days, not to mention that it’s easier than ever to hack a mobile network and gain access into the critical data, social security number and browsing history of telecom users.

As the need for privacy increases, Blockchain technology with its decentralized, open-source model could change the telecom infrastructure. Wi-Fi sharing networks have gone mainstream. Accessing these networks can be both unsafe and expensive.

Fully decentralized global Wi-Fi sharing networks

Providers of 3G/4G, Wi-Fi and other cloud-based telecom services don’t have the technology to go beyond what the Blockchain can provide. Qlink, a Singaporean-based project, aims to enable new, innovative solutions to old problems in the telecom industry, such as inflexible data plans, security, speed and numerous others.

“Qlink believes the development of the Blockchain industry as a whole will experience a long period of explorational development and then seek merger and integration. Public chain services with different purposes will communicate via agreements and protocols, similar to the TCP/IP in Internet industry today. The Telecom chain, as one of the foundational chain which supports all communication services, will be one of the pillar chains in the ecosystem, meaning Qlink has the most potential to integrate Blockchain based telecommunication in the near future.” – Susan Zhou, co-founder and COO of Qlink.

By leveraging the potential and ingenuity of the NEO Blockchain, the end goal of the Qlink project is to develop an open-source telecommunications systems that is prepared to compete with the inflexible, centralized data plans already available in the market.

Decentralized mobile network becomes hooked on IoV

Sharing Wi-Fi hotspots at a global level, and getting rewarded for doing it is what Qlink stands by. Recently, the company turned its attention to the potential the IoV (Internet of Vehicles) holds. The collaboration with Cenntro Automotive Group, future plans for Qlink include combining Blockchain technology deployment and electronic vehicle manufacturing to craft an open-source, NEO-based, and fully decentralized telecom solutions for the Internet of Vehicles technologies.

Qlink will be in charge of developing the Cenntro Auto Group’s decentralized telecom platform. It will include a wide variety of features, like telecom asset registration, V2X technology development, and IoV mobile data billing. The open-source nature of the new Cenntro Auto platform will create a network of seamless resources that collaborate to design, sell and purchase vehicles.

To make sure the Qlink mobile network for Cenntro Auto Group is truly decentralized, the company works on launching BaseStation, its very own vehicle-mounted hardware to allow users to contribute to the expansion of its 4G network coverage.

The key to a brighter future in the telecom industry: blockchain technology. Global Wi-Fi sharing is unsafe and expensive, not to mention that data plans are faulty and cannot guarantee the privacy of end users. A decentralized ecosystem could be the solution; the key to improved telecommunications packages.

Qlink is scheduled to have its ICO on 22 December.

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Key Highlights

• ETH price made a nice upside move and broke the $800 resistance against the US Dollar.
• There was a break above yesterday’s pointed contracting triangle with resistance at $725 on the hourly chart of ETH/USD (data feed via SimpleFX).
• The pair is heading higher and it might continue to move higher towards the $850 and $900 levels.

Ethereum price is surging higher against the US Dollar and Bitcoin. ETH/USD might rocket higher and move toward $850-900 in the near term.

Ethereum Price Uptrend

There was a solid bullish trend in place for ETH price above $700 against the US Dollar. The price after correcting lower and completing a consolidation pattern above $700 broke higher. There was a break above a few important resistances such as $700 and $725. Furthermore, there was a break above the 76.4% Fib retracement level of the last decline from the $758 high to $611 low.

The current trend is super bullish above $720 and the 100 hourly simple moving average. During the upside, there was a break above yesterday’s pointed contracting triangle with resistance at $725 on the hourly chart of ETH/USD. The pair is now above the 1.236 Fib extension of the last decline from the $758 high to $611 low. These are all positive signs and means that the price might surge further towards $850 or $900. The next major resistance is around the 1.618 Fib extension of the last decline from the $758 high to $611 low around $850.

As long as the price is above the $725 level, it will most likely move higher. Moreover, the 100 hourly SMA is at $702 to act as a major buy zone. On the upside, the $850 and $900 are decent target levels.

Hourly MACD – The MACD is gaining pace in the bullish zone.

Hourly RSI – The RSI is moving higher in the overbought levels with no sign of a correction.

Major Support Level – $725

Major Resistance Level – $900

Charts courtesy – SimpleFX

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David Drake – new advisor at Zabercoin!

It is with great excitement and pride to announce that David Drake the well-known blockchain, finance and asset management giant has joined the Zabercoin team in an advisory capacity! Zabercoin is delighted to publicise that as advisor David will ensure that Zabercoin achieves its goal of becoming the preferred real estate utility token by providing a competitive advantage to the investor in the global blockchain cryptocurrency market environment!

The Zabercoin management team is extremely positive about David’s professionalism, expertise and knowledge about digital asset management and the blockchain evolution. David’s reputation as specialist and expert in the asset management and cryptocurrency space makes him the perfect choice to lead Zabercoin’s token sale advisory board.

David’s impressive track record in the cryptocurrency space

David Drake has a very impressive resume especially in terms of the critical role he played as Board Advisor for a significant number of ICOs, in the past and present, ensuring great success stories, namely:

David’s background and experience

Born in Sweden and fluent in six languages, David Drake has an MBA in Finance and an MA in International Law and Economics from George Washington University in DC where he was awarded the Wallenberg Scholarship for academic merit.

David Drake and his family office LDJ Capital and its partners, has acted as GPs and investors in fund-of-funds, realty funds, venture capital funds, seed funds, debt funds and hedge funds. David’s investments and private equity advisory at LDJ Capital currently has 50+ global directors and family office partners maintaining relations with institutions and family offices with $1.5 trillion in assets.

David Drake and his family office manages and co-invests alternative assets with the top 30 out of his investments in The Soho Loft Media Group that has a 5000-family office and institutional investor reach. These top 30 have aggregate asset under management of $1.5 trillion with 40% from Asia, 30% from Europe and 30% from the Middle East.

David’s access to 100,000 investors is maintained through his media holding investment The Soho Loft Media Group which has produced and sponsored over 1100+ global finance conferences since 2002, i.e. events by institutional media leader Thomson Reuters, with speakers from Nasdaq, NYSE, KKR and Carlyle Group. Global investor relations, capital allocation, syndication and buy side advisory are augmented at LDJ Capital advisory division via The Soho Loft Media Group.

LDJ Capital Special Situations partners have invested $100 Million in Alibaba and Palantir and continues with its NYC partner at McCarter English to place $500M in pre-IPO companies such as Lyft, N3N, Klarna, Dianrong, Truecaller, Crowdfunder, MagicLeap, DropBox.

LDJ Capital Real Estate’s multi-family strategy is to acquire series A core rental properties in global gateway cities at a 4+ cap rate and turn them into a 10-cap repositioning with a 15% IRR.  The realty hotel division works with top 10 hotel operators and asset managers globally including pursuing its own hotel acquisitions and hotel conversions in NYC. LDJ Capital invests and handles buy side advisory for institutional fund placement, mutual fund seeding, fintech Investments, data and risk analysis investments, natural resources from gold to oil revenue generating properties to operating minority and controlling stakes in, but not limited to, broker dealers, wealth management, hedge funds, transportation, fin media to insurance.

David Drake has been involved in technology, media, telecoms, realty, hospitality, cleantech, energy and social impact investments for more than 25 years. He is an advocate of digital automation investing in private equity, compliance, capital formation policies and the US JOBS Act which he lobbied for in the US Congress and the EU Commission. Because of his leading work in this space, he represented the US Commerce Department at the EU Commission in Brussels and Rome in 2012 and was invited to the White House Champions of Change ceremony in Washington, D.C. and as a speaker at the UK Parliament in 2013.

In his private capacity, David has hosted the Harvard Business Club of NY at his home, produced Carnegie Hall concerts and raised funds for the charities Trail Blazers and Best Buddies for many years. As he resettled in NYC from years of traveling, he was honoured in March 2015 to become a board director for the New York City Opera and years as a board advisor for The Washington Ballet which allows him to work and advise US Ambassadors from, but not limited to Sweden, Dominica, Ukraine, Marshall Islands, Australia and Luxembourg.

Final remarks

When Juan Engelbrecht, the CEO of Zabercoin was approached to respond on the new appointment of David Drake as advisor he expressed complete confidence, satisfaction and trust in David’s abilities and expertise. He added that David’s excellent track record with so many of the ICOs in the past speaks for itself. He believed that Zabercoin will be no exception and therefore expected nothing less than an overwhelming crowdsale success for Zabercoin!

David Drake responded by saying:”I am excited to advise and witness the development of Zabercoin as it harnesses its asset-backed cryptocurrency for the goal of providing higher returns for their contributors. With a sharp eye towards the lucrative and solid property market, their investment stance will add another layer to the real estate industry and will give more funding options for investors and property developers alike”.

The Zabercoin team strongly believes that David Drake will play a key role in improving their performance and ensuring ultimate business success! The team knows that unity is strength – when there is teamwork and collaboration, great things are achieved. Quality is always the best business plan!

The strength of the team lies in the individual, and the strength of the individual is in the team – this is the true win-win strategy!

The post ZABERCOIN TOKEN SALE ADVISORY BOARD GROWS FROM STRENGTH TO STRENGTH! appeared first on NEWSBTC.

Is there a chance of LTC prices testing $420? Well, it depends on how you look at it.

Technically, LTC is reversing  from our expected area of support as shown by the Fibonacci retracement levels drawn from last week’s high low. IOTA is also replicating the same set up following that close above the middle BB on December 18.

The question is: Will this continue? What will happen if say IOTA find resistance at $5.56? Do you think this Q3 alt coin rally will continue?

What are your thoughts?

Let me tell you what I think about these crypto-pairs:

NEM SHORT TERM TARGET IS $0.93 BUT PRICE MUST FIRST CLOSE ABOVE $0.80

It’s no doubt that NEM is rallying and if it this is maintained, then it is likely that NEM valuation will continue rising with the “tide” as they say.

Personally, I will place my first “minor” resistance at last week’s highs at $0.80 and that is my mini trigger for going long in case there is a surge. A close above $0.80 will also mean a stop loss below December 8 highs of $0.67.

That $0.13 safety net is a bit tight considering the recent trade range of about $0.20. If this intra-day plan pans out, then I remain hopeful that $0.93 target will be feasible.

CONVERSELY, if bears jump in and nullify this projection, then I will stay out until I’m convinced of a realignment as per the weekly chart trend.

WHAT’S HAPPENING TO DASH?

I was really hoping DASH bears would take over at least momentarily and push prices to even $1000 or below. Well, it didn’t and from my own personal judgment, DASH demand is high.

I pasted a Fibonacci retracement tool in the direction of trend between last week’s high low and guess what? This minor consolidation is happening at around 23.6%.

It’s a Tuesday yes and I  think if there’s a trend resumption, the proper and “comfortable” reversal zone should be between 38.2% and 61.8% Fibonacci retracement.

Historically, if prices shoot from there, then we buyers or sellers whatever the case can enter and trade as per the trend.

Now this? I remain doubtful. We are seeing some minor bear divergence but DASH continues to inch higher.

NOW WHAT? IS IOTA PREPARING FOR A LIFT OFF?

Guys, do you believe in contrarian theory? If not, then good! Continue hodling! Hodling even when IOTA seemed to be crumbling can be nerve wrecking especially if you bought at the peaks.

That’s after $5.5. See that drop from $5.56 printed on December 12 and yesterday’s double bottoms at around $3.4? That’s $2 off IOTA and well, you could as well cash out and take a loss like a man.

Technically, I’m convinced sellers are out of the frame and IOTA demand is picking up especially after that double bottom yesterday.

There’s a confluence of technical indicators that support our buys. Stochastics are turning from overbought territory and after our middle BB was broken and confirmed on December 13-ooohh what a bad day.  December 18 was the first time in 5 days for IOTA prices to close above this support line.

Lest we forget, there’s a close above the minor resistance line which I drew as a support trigger line. Now, we buy IOTA. Play safe and aim $5.5. Limit your losses with a stop loss at $3.5. If you were out, enter and recoup your losses-hopefully!

MONERO IS RALLYING BUT DON’T PULL THE TRIGGER NOW

You cannot be sure about Monero, one time you are ecstatic and actually believe that it is heading to the moon only for prices to crumble like a sand castle.

If it’s anonymous then today we hope this retest 20 Period MA will actually confirm longs-many traders are long by the way. My interest is around $360. That is last week highs. It no longer holds but the week is still young. Highs like these are often hard to clear or unless I’m missing something.

What I know is, before prices clear $400 -it’s only $40 away, the middle BB has to be tested at least thrice. Refer to last week’s price action and check out the trend.

Buyers are in charge in the long time frame but with current Monero set up, I will not advise longs unless we have a stochastic buy signal at the oversold territory.

The last time that happened was in October 28 and November 2. They are rare but profitable when it shows.

I’M NOT A SEER BUT THERE’S a 75% CHANCE OF LTC PRICES TESTING $420

When you are a trader-or pretending to be one, patience is an asset. Right now, you can as well as buy LTC not because momentum indicators have signaled it, but because of Fibonacci retracement.

After lower lows last week, LTC demand is picking up from our ideal reversal levels at around 50% and 38.2%. It’s not a 100% buy signal but chances of a retracement to below $250 is low now that the middle BB looks like a reliable support.

I will give it a 75% chance of LTC higher highs towards $420 but trend with caution.

All charts courtesy of Trading View

The post THERE IS A 75% CHANCE OF LTC PRICES TESTING $420 appeared first on NEWSBTC.

Bitcoin’s scalability debate was a clear sign that better governance mechanisms are needed with cryptocurrency; fortunately, some projects have designed and implemented them. #ANALYSIS

Key Points

• Bitcoin cash price gained heavy momentum and was able to move above $2000 against the US Dollar.
• Yesterday’s highlighted key bullish trend line with current support at $1850 is intact on the hourly chart of BCH/USD (data feed from Kraken).
• The pair might correct a few points, but it remains supported above the $1900 level.

Bitcoin cash price made a nice upside move above $2000 against the US Dollar. BCH/USD may continue to gain pace and remains a buy around $1900.

Bitcoin Cash Price Buy Dips

Yesterday, we discussed how bitcoin cash price was preparing for more gains above $1850 against the US Dollar. The price made a nice upside move and traded above the $2000 level. The upside move was decent and the price traded above the $2200 level as well. A high was formed at $2291 from where a short-term correction was initiated. It declined below the 23.6% Fib retracement level of the last wave from the $1750 low to $2291 high.

However, the downside move was well protected by the $2000 level. The mentioned $2000 level was a resistance earlier and now it is acting as a support. Moreover, the price was rejected from the 50% Fib retracement level of the last wave from the $1750 low to $2291 high. On the downside, yesterday’s highlighted key bullish trend line with current support at $1850 is intact on the hourly chart of BCH/USD. The pair might continue to find buyers on the dips near the $2000 and $1900 levels.

More importantly, the 100 hourly simple moving average is at $1820 to act as a major support. Therefore, more gains are possible in BCH as long as the price is above $1800.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is currently reducing its bullish slope.

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

Major Support Level – $1900

Major Resistance Level – $2300

Charts courtesy – Trading View, Kraken

The post Bitcoin Cash Price Technical Analysis – BCH/USD Breaks Past $2200 appeared first on NEWSBTC.

Leveraging the power of its budget system with annual funding of $100 mln, Dash surges to record four-digit price. #NEWS

Whatever you think of bitcoin and cryptocurrencies, there is plenty to learn from their ascent. Even if you are in the ‘Bitcoin Bubble’ camp, don’t let that blind you to the lessons of what has happened in the past few years. Here are 5 instructional points where bitcoin has a bigger story to tell.

The Bread token sale sold out in a matter of hours; digital wallets could be great Christmas gifts. #SPONSORED