Day: December 19, 2017

100% premiums are still attractive to Bitcoin investors, despite price drop following the launch of CME Bitcoin futures.

The startup released an open-source compiler that translates between Ivy, Chain’s high-level smart contract language, and low-level Bitcoin Script.

When most people are looking at ways to try and buy them some will inevitably see the downside of virtual currencies and want to shift their stash. Swedish co-founder of Bitcoin.com, Emil Oldenburg, claims that Bitcoin is “as good as useless” and has no future as a tradeable currency.

The website is one of the oldest and most established crypto currency resources which has grown extremely profitable this year with the explosion in popularity of crypto trading. In an interview with Swedish media co-founder and CTO Oldenburg said:

“I would say an investment in bitcoin is right now the riskiest investment you can make. There’s an extremely high risk,”

We would expect this stance from politicians or Wall Street bankers but not from an industry insider. There is a good reason that he has decided to denigrate the digital currency and that is because he has sold all of his Bitcoins and switched to Bitcoin Cash. BCH forked from the original BTC chain in August and has shown steady gains ever since on its own blockchain.

The main reason for this change is high transaction costs and lead times. When the network is under high demand, which has been a few times recently, it can take several hours to carry out a Bitcoin transaction. Some websites have reported that transaction fees have reached as high as $26 recently, which is as much as a regular bank would sting you for an international transfer.

The limited block size on the BTC chain imposes a limit on the number of physical transactions that can be made and this bottleneck makes it a highly illiquid digital currency. People will only realize this risk when they decide to hold or trade them, many are still ‘hodling’ and dreaming about Lambos. According to Oldenburg;

“the old bitcoin network is as good as unusable. As soon as people realize that this is how it works, they will start to sell,”

He went on to refer to the old Bitcoin network being run by “fanatical bitcoin talibans” that want things this way.

“They see bitcoin as a digital gold and a technical experiment, as opposed to something you can actually use.”

Bitcoin Cash has a bigger block size of 8Mb compared to 1Mb on Bitcoin, which leads lower transaction fees and faster transfer times. BCH has recently broken an all-time high of $2,353 and is up 27% in the past 24 hours.

The post Bitcoin dot com co-founder sells his ‘useless’ Bitcoins appeared first on NEWSBTC.

Key Highlights

• Ripple price is trading in a range above the $0.6800 support area against the US Dollar.
• This is a short-term bearish trend line forming with resistance at $0.7400 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair might move higher in the near term, but it could face sellers near $0.7400 and the 100 hourly simple moving average.

Ripple price is consolidating against the US Dollar and Bitcoin. XRP/USD has to move above $0.7500 to gain traction in the near term.

Ripple Price Support

After a major upside move, Ripple price started a correction and moved below $0.7000 against the US Dollar. However, the price found support at $0.6800 and later started trading in a range. There were a couple of swing moves and the price recently retested the $0.6600-0.6800 support area. It is currently moving higher and it recently traded above the 23.6% Fib retracement level of the last decline from the $0.8405 high to $0.6777 low.

There are many minor resistances on the upside, including $0.7400 and $0.7500. There is also a short-term bearish trend line forming with resistance at $0.7400 on the hourly chart of the XRP/USD pair. Below the trend line at $0.7500, the 100 hourly simple moving average may also act as a strong resistance. Moreover, the 50% Fib retracement level of the last decline from the $0.8405 high to $0.6777 low is at $0.7600 to stop the upside move.

Therefore, it seems like the $0.7400-0.7600 region is a good short-term resistance zone. XRP has to move above the $0.7600 level to move back in the bullish zone. Above $0.7600, the price could trade towards the $0.8400 level in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is currently in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well below the 50 level, and is heading lower.

Major Support Level – $0.6800

Major Resistance Level – $0.7600

Charts courtesy – Trading View, Kraken

The post Ripple Price Technical Analysis – XRP/USD Consolidating above $0.6800 appeared first on NEWSBTC.

Growing interest in cryptocurrencies has seen a massive influx of new ICOs that are changing the world as we know it. These valuable projects are however, being let down by the lack of a financial infrastructure. Their company issued cryptocurrencies are not easily spendable by their token holders and are often left waiting for a way to use their cryptocurrencies.

MoxyOne is here to supercharge the crypto economy by giving every ICO an opportunity to have their own crypto-payment system. By white labelling MoxyOne’s financial infrastructure, companies can let their users spend their created cryptocurrencies. They can do so by becoming a partner and have the benefit of easily integrating MoxyOne’s infrastructure rather than developing an in-house payment system which can be a lengthy and expensive exercise.

At present, token holders are only able to utilise the tokens they hold to trade with and make quick profits. But now they will have more avenues to maximise their investment. In addition, they will be able to utilise their tokens not just on a company’s platform but also out in the real world. They can make everyday purchases such as buying groceries and paying bills. By allowing cryptocurrencies to become spendable, MoxyOne will be creating demand for these tokens which will make them more valuable. This will benefit not just companies but every token holder as the value of their tokens will continue to grow with use over time.

MoxyOne not only offers a white labelling service for companies, it will also have its own debit card and wallet system for its token holders (SPEND). The first question every token issuing company has asked is “why do you need to have your own cryptocurrency?” For MoxyOne, SPEND tokens will be the fuel for its system. Apart from being tokens that are spendable in the real world, they will also be used as platform fees (incurred by individual transactions). This makes SPEND tokens extremely valuable for its holders as they will be in constant circulation. Additionally, SPEND tokens will only have a hard cap supply of 50 Million. This means no new tokens will ever be created and because scarcity drives value, every SPEND token becomes a valuable asset for its owner.

MoxyOne already has an exchange partnership with Cryptopia, meaning SPEND will be listed there as soon as the token sale ends. Other exchanges (such as EtherDelta and other free or pay-to-play exchanges) will be listed in the near future with MoxyOne’s competent exchange listing consultant, Rick Kennernecht leading the helm. MoxyOne has already secured an exciting partnership with the ever popular Social (SCL) which is a Decentralised Social Networking Platform. They will be the first white label partner to offer its token holders a “Social” debit card to be used on its platform. MoxyOne will utilise Raiden Network’s micropayments channel for optimal transaction speed and Gladius’ DDoS protection and security. MoxyOne is also looking into integrating the COMIT network for cross blockchain access and interoperability.

The MoxyOne developers are working on a prototype for its wallet system which is aimed to be released by early 2018. The pre-sale will begin on 8th February, 2018 at 01:00 GMT and ends on 10th March 2018 at 01:00 GMT. The main token sale event will run from 14th March, 2018 at 01:00 GMT to 14th April, 2018 at 01:00 GMT.

Token Sale Information:

Website: https://moxy.one

Token Sale Details: https://moxy.one/token-sale

Whitepaper: https://moxy.one/whitepaper.pdf

Telegram: https://t.me/moxyone

Email: [email protected]

The post MoxyOne is Offering Debit Cards and Payment Infrastructure for Every Company or ICO that Issues Cryptocurrencies appeared first on NEWSBTC.

Key Highlights

• ETH price corrected sharply lower after trading to a new high at $864.53 against the US Dollar.
• A bullish trend line with current support at $715 acted as a buy zone on the hourly chart of ETH/USD (data feed via SimpleFX).
• The pair is currently moving higher and is attempting an upside break above $800.

Ethereum price is placed nicely in the bullish zone against the US Dollar and Bitcoin. ETH/USD may soon break $800-805 once again for more gains.

Ethereum Price Support

There were heavy swing moves in ETH price recently above $700 against the US Dollar. The price gained solid momentum, moved above the $800 level and traded to a new high at $864.53. Later, the price failed to retain momentum and started a downside below $800. There was a sharp downside reaction and the price broke the $750 and $720 support levels as well. The decline was nasty and the price finally found support around $700 and the 100 hourly simple moving average.

Moreover, a bullish trend line with current support at $715 acted as a buy zone on the hourly chart of ETH/USD. The pair is now moving back higher and it currently above the 50% Fib retracement level of the last decline from the $864 high to $702 low. However, there is a bearish trend line on the same chart with resistance at $805-810. ETH buyers need to break the $810 resistance to push the price back in the bullish zone. Moreover, a break above the 61.8% Fib retracement level of the last decline from the $864 high to $702 low is needed to a push toward the $850 level.

On the downside, the trend line support at $715 is important along with the 100 hourly SMA.

Hourly MACD – The MACD has just moved into the bearish zone.

Hourly RSI – The RSI is currently attempting an upside break above the 50 level.

Major Support Level – $715

Major Resistance Level – $810

Charts courtesy – SimpleFX

The post Ethereum Price Technical Analysis – ETH/USD Dips and Rips Higher appeared first on NEWSBTC.

What happened after all the fear, uncertainty and doubt of 2017? Bitcoin became stronger than ever, according to developer Jimmy Song.

We were right with our IOTA prediction. There’s an obvious IOTA lift off.

Well, many people believe in IOTA given the more than 10X spike in the last 2 months. NEM is also picking up while we are seeing a slowdown in LTC, DASH and Monero.

NEM SLICES THROUGH $0.93

After yesterday, we can say we were on the right side of the trade as prices ended up rallying. In fact by close, NEM highs had tested $1.12. That’s about $0.32 from where we had placed our buy stops. It was at our resistance if you remember well.

I will be general today. First, following that spike, we shall remain calm and stay humble in our “mini victory”. Long term trend buyers are late, perhaps buying in the last stage, the 4^th wave of the Elliot wave.

Since I don’t know what the future prices are, we shall base our swings here on the 4HR chart. The thing is, the 20 period MA has is still reliable and positive sloping meaning buy momentum is still high.

However, we got a little problem with our stochastics. Bears are jumping in. Remember just before December 19 close we had this bearish engulfing candlestick preceded by that inverted hammer which by the way closed above the upper BB resulting in a double bear reversal pattern.

In my opinion, NEM prices could easily retrace back to support at $0.80. Once a buy signal prints at the oversold territory, that is when I might end up buying depending on the then prevailing set up.

DASH MIGHT SLOW DOWN AND TEST $900

I was doubtful of this reversal and now you see why. As it is often the case, reliable reversal happen at levels mentioned from December 19 Analysis-around 38.2% and 61.8% or even lower.

If we analyze this “rally” then you notice that there are no buys to pump prices. Stochastics are even turning lower from deep the overbought territory accompanied by those bear candles.

Look, in the long term we remain bullish. DASH, the project is awesome but for intra-week traders, stay on the sidelines and observe.

I anticipate some form of reaction at the middle BB but a dip below last week’s high will be ideal for buying at dips.

For this reason, my potential area where buyers might jump in is around $830 and $900.

YES, IT’S AN IOTA LIFT OFF

It looks like our prediction on December 19 is turning is turning out to be a USD minter.

Well guys, I recommended once prices test $5.5, we should move our stop losses to $3.5. Now let’s do that and lock in some profits.

Confident of higher highs? Yep! Reason?  These strings of IOTA soldiers are a break out in the daily chart. It’s basically an IOTA lift off. IOTA prices might slow down today but chances of it closing above $5.5 is also high.

Of course caution should prevail. If IOTA prices tank, then our stop losses at breakeven would be hit and we exit the trade gracefully.

COULD TRUMP LEGISLATIVE VICTORY GIVE USD SOME IMPETUS?

Is Monero showing cracks? Short term? likely….long term? Definitely not.

From experience, for a higher time frame candlestick to be complete, two wicks at each side of the body must be formed. Right now, the lower wick is in progress.

I would say Monero buyers are on the sidelines ready to pounce. The question on my mind is simple. Will the middle BB hold? It has been a concrete floor for the past 2 months-zoom out and check it out in the daily chart.

Now, if it does or not, that I don’t know. I will only place a 65% chance advised from past reactions. In this time frame, buy momentum is slowing down and as I type this, a clear sell signal is posing like that hot chic.

Everyone can see but no one is willing to ride down with it. I’m one of them unfortunately. The moment bears drive down prices, I advise swing traders to move profits to break even.

Buy entry will happen once a buy signal shows maybe at around $290 or lower.

LTC PRICES DEPENDS ON MIDDLE BB

Its looks like my 75 cents is out. I’m watching paint dry and convinced we might have bought at the tip. LTC prices are stagnating and this is taking out LTC steam.

The $70 range to $420 seems miles ahead. Maybe it is, maybe not. Demand is slowing as stochastics show.

I’m of the opinion that prices might continue stalling as it is or even drop towards the 38.2% Fibonacci level. That by the way is first level. It can be worse. LTC might even test $250 before a buy signal prints.

That is of course dependent on if the middle BB will hold. If it does and a bull candlestick shows, that’s a reprieve, if not well…we shall exit and wait for another buy opportunity.

All charts courtesy of Trading View

The post IOTA LIFT OFF: DO YOU BELIEVE IN A MACHINE ECONOMY? appeared first on NEWSBTC.

While many new investors entering into the industry for the first time are focusing on their initial cryptocurrency purchases, there is a digital gold rush taking place with high quality Blockchain domain names.

Bitcoin Price Key Highlights

• Bitcoin price embarked on a large correction as predicted in a previous article.
• Bullish momentum has significantly slowed near the $20,000 barrier, so a pullback is necessary to draw more buyers in.
• The area of interest near the Fibs and trend line is still holding and could be enough to lead to another leg higher.

Bitcoin price is showing a classic correction to a former resistance level as it waits for more bullish momentum to sustain the climb.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. The 100 SMA also appears to be holding as dynamic support just below the ascending trend line and 50% Fib around $16,000.

A larger correction could still test the 61.8% Fib closer to $15,000 and slightly below the area of interest. Stochastic has some room to head south before reaching oversold levels so sellers could stay in the game for a bit longer. Similarly RSI could head a little lower and bitcoin price might follow suit.

Market Factors

The euphoria from the bitcoin futures launch appears to have faded and traders are closing out positions on the lack of new highs. Market watchers are also paying closer attention to other assets, like US equities, that are also surging to new highs.

The tax reform vote has drawn investor interest back in the US stock market as approval before Christmas could mean a huge boost to business activity. Apart from keeping Wall Street in the green, it is also providing support for the dollar against bitcoin price.

Apart from that, the SEC suspension on shares of The Crypto Company due to concerns of stock manipulation has also injected a bit of caution among bitcoin traders. Rival bitcoin cash is also making an ascent, leading some to revive concerns about two separate versions, especially with BitPay and major cryptocurrency storage company Blockchain added support for bitcoin cash.

The post Bitcoin Price Technical Analysis for 12/20/2017 – Major Correction Ongoing appeared first on NEWSBTC.

Key Points

• Bitcoin cash price rocketed higher and moved to a new all-time high above $3700 against the US Dollar.
• There is a new connecting bullish trend line forming with support at $3000 on the hourly chart of BCH/USD (data feed from Kraken).
• The pair might move down a bit, but it remains supported around the $3000 handle.

Bitcoin cash price surged higher above $3000 and $3500 against the US Dollar. BCH/USD is now super bullish with more gains possibility above $3500.

Bitcoin Cash Price Uptrend

Yesterday, we discussed how bitcoin cash price could continue to move above the $2000 level against the US Dollar. The price started a solid upside move and broke many resistances on the way up such as $2500, $3000 and $3500. A new all-time high was formed at $3747 and at the moment, the price is correcting lower. On the downside, an initial support is around the 23.6% Fib retracement level of the last leg from the $2000 low to $3747 high.

It seems like downsides could be limited by the $3000 support zone. There is a new connecting bullish trend line forming with support at $3000 on the hourly chart of BCH/USD. The trend line support is close to the 38.2% Fib retracement level of the last leg from the $2000 low to $3747 high. Therefore, any major dips from the current levels are likely to face bids near the $3200 and $3000 levels. A break below $3000 won’t be easy since the 50% Fib retracement level of the last leg from the $2000 low to $3747 high is at $2870.

On the upside, the price may soon move above $3500. Should there be more gains above $3500, the price could test the $4000 level.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is strongly placed in the bullish slope.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is moving lower toward the 60 level.

Major Support Level – $3000

Major Resistance Level – $3500

Charts courtesy – Trading View, Kraken

The post Bitcoin Cash Price Technical Analysis – BCH/USD Surges Above $3500 appeared first on NEWSBTC.

Shares of small-cap stock Longfin surged more than 1,300 percent on the news that the company had purchased a cryptocurrency company, Ziddu, fueling market mania buzz. #NEWS