Day: December 20, 2017

Japanese entertainment conglomerate DMM Group, the operator of popular e-commerce site DMM.com with 27 million members, is preparing to launch a cryptocurrency exchange. 7 cryptocurrencies, 14 trading pairs, and margin trading will be offered.

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

DMM’s Crypto Exchange Opening January

Japanese e-commerce and internet giant DMM Group has unveiled the details of its upcoming cryptocurrency exchange set to launch on January 11 of next year. The new exchange will be called DMM Bitcoin. According to the company:

DMM Bitcoin will launch a new service site for virtual currency trading on January 10, 2018, and we plan to start accepting account opening applications on January 11.

DMM Group previously operated a small crypto trading platform called Tokyo Bitcoin Exchange Inc. This platform was approved by the Japanese Financial Services Agency (FSA) on December 1. It became one of the only 15 exchanges in Japan which the agency has approved so far. Tokyo Bitcoin Exchange has been renamed to DMM Bitcoin and has suspended its services.

Launching With 7 Cryptocurrencies

DMM Group described:

There are 7 virtual currencies that can be traded, 3 currency pairs for spot trading and 14 currency pairs for leveraged transactions.

The 7 supported cryptocurrencies are bitcoin (BTC), ether (ETH), nem (XEM), ripple (XRP), litecoin (LTC), ethereum classic (ETC), and bitcoin cash (BCH). Spot trading is available for trading pairs – BTC/JPY, ETH/JPY and ETH/BTC. Leverage of 5x is available for 14 trading pairs. While there is no transaction fee, the leverage fee is 0.04% per day.

In comparison, rival GMO Internet’s exchange, GMO Coin, currently supports 5 cryptocurrencies – BTC, ETH, LTC, XRP, and BCH. This exchange offers 5x, 10x, and 25x leverage at a fee of 0.05% per day.

Trading on DMM Bitcoin is available on iOS, Android, and PC. Trading tools will also be available similar to those offered to foreign exchange (FX) trading customers on DMM FX, the company’s FX trading platform. Deposits and withdrawals are available in Japanese yen, bitcoin, and ether.

In September, DMM Group established a virtual currency subsidiary and also announced its plans to become “one of the 10 largest mining farms in the world” next year.

What do you think of DMM launching a crypto exchange? Would you use it? Let us know in the comments section below.

Images courtesy of Shutterstock, Japanese FSA, and DMM Group.

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

The post Japanese Entertainment Giant DMM Unveils Details of Crypto Exchange to Launch Next Month appeared first on Bitcoin News.

Japanese and South Korean blockchain groups have partnered for dissemination of blockchain technology.

Key Highlights

• Ripple price moved higher once again and is currently trading above the $0.8000 level against the US Dollar.
• Yesterday’s highlighted short-term bearish trend line with resistance at $0.7200 was broken on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair traded as high $0.9009 and is currently preparing for more gains above $1.00.

Ripple price is surging higher against the US Dollar and Bitcoin. XRP/USD might soon move further higher toward the $1.00 level in the near term.

Ripple Price Upside Move

There was a fresh upside move initiated in Ripple price from the $0.7000 swing low against the US Dollar. The price succeeded in breaking many resistances such as $0.7500 and $0.8000. To start with, there was a break above the 50% Fib retracement level of the last drop from the $0.8400 high to $0.6770 low. It opened the doors for more gains above $0.7500.

More importantly, yesterday’s highlighted short-term bearish trend line with resistance at $0.7200 was broken on the hourly chart of the XRP/USD pair. The pair traded above the $0.8500 level and posted a new high at $0.9009. It seems like the current uptrend is far from over and the price might continue higher above $0.9000. An initial support is around the 23.6% Fib retracement level of the last wave from the $0.6500 low to $0.9009 high. Any major downside move should be limited by the $0.8000 level. Moreover, the 50% Fib retracement level of the last wave from the $0.6500 low to $0.9009 high is at $0.7760 to act as a support.

On the upside, a break above the $0.9000 handle would call for a test of the $1.00 handle in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is placed well in the overbought levels.

Major Support Level – $0.7700

Major Resistance Level – $0.9000

Charts courtesy – Trading View, Kraken

The post Ripple Price Technical Analysis – XRP/USD Moving Toward $1.00 appeared first on NEWSBTC.

Bitcoin Price Key Highlights

• Bitcoin price appears ready to bounce off support at the area of interest visible on the longer-term charts.
• Price seems to be forming a double bottom around the $16,000-18,000 levels and a neckline break could allow the climb to resume.
• In that case, bitcoin price could make its way back up to the swing high and beyond.

Bitcoin price continues to ward off bearish pressure around the $16,000 area of interest and might be ready to make a stronger rally.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. This means that the uptrend is more likely to carry on than to reverse, possibly taking bitcoin price up to the highs close to $20,000.

Stochastic is on the move up to show that buyers are on top of their game, but the oscillator is nearing overbought territory to reflect exhaustion. RSI has more room to climb, so bitcoin price might have enough bullish momentum for a neckline break.

Note that the double bottom is around $2,000 tall so the resulting break could be enough to take it up to the all-time highs.

Market Factors

The US dollar is holding its ground against most of its rivals as the tax reform bill was passed this week. This would spur stronger business activity and consumer spending, thereby boosting overall growth and keeping the Fed on its tightening cycle.

Meanwhile, bitcoin price appears to be losing the spotlight to other cryptocurrencies that are also on the rise. The $20,000 major psychological level is proving to be a tough barrier to break, so profit-taking has also come in play, especially since the end of the year is approaching.

There’s not much in terms of catalysts for both bitcoin and the dollar in the weeks ahead, so it’s likely that the correction could stay or consolidation could be in the works.

The post Bitcoin Price Technical Analysis for 12/21/2017 – Small Bullish Pattern Sighted? appeared first on NEWSBTC.

The increased price of bitcoin appears to be luring terrorist fundraising efforts, in spite of the risks of being discovered.

I’ll be expanding these ideas in a forthcoming article and book but with prices skyrocketing, and so many new people owning tokens for the first time, I want to provide a quick reference guide that you can complete in less than 10 minutes to help protect your new assets.

Before Charlie Lee, we had DASH, Monero hodlers and early adopters being promoted into the millionaire’s club.

Monero added $50 while his cousin DASH added $500, same ambition different speeds I guess. Should you buy all these three BTC alt coins starting with BCH and LTC before spicing it with DASH and Monero?

You should have I say when the prices were right but we can learn from Bitcoin. Experts said it would crash but it crushed them instead.

NEM LOOKS BORING AND BEARS MIGHT PUSH PRICES LOWER

Between watching paint dry and tracking today’s NEM movement, I would gladly choose the former. Reason? I don’t want to feel edgy and get wrenched every time a bear candlestick prints.

Yesterday, I mentioned the likelihood of $0.67 being tested. If by any chance the 20 period MA is breached and USD bears close below it, then I may consider exiting this trade for $0.05 gain. That’s 6% for holding 48 hours or so. You won’t get that even from the best banks out there.

Now, we remain buyers but what I’m seeing here is not bull pressure at all. Those lower highs relative to the upper BB is messing this set up big time. As I said, any close below the middle BB, $0.67 or the 61.8%-on the lower end mean we anticipate expect some brakes around that price range.

I’m not saying this is with certainty. Give yourself +/- 5% around $0.53 as a room for margin. If there’s a stochastic buy signal around then, the better.

WE WERE WRONG DASH ADDS $500 IN 24 HOURS

After all the talk and Charlie Lee cashing out on his stash, DASH and BCH are rallying. DASH demand is so high, $500 was added and that also meant our third take profit level as projected by Fibonacci extension level was taken down.

Now, I’m just giving an observation which should not substitute your gut feeling. Personally, I’m not looking to buy unless after I see some technical evidence in the daily or 4HR chart.

A reversal of some sort is what I’m waiting and after all, its better be safe than buy at peaks. Fundamentals are definitely behind this move and as such, technicals become useless.

This is where I need to see what you guys think of DASH! TA is null and void when emotions kick in.

SHOULD THAT IOTA OVER-EXTENSION IN THE WEEKLY CHART CONCERN BUYERS?

Guys, I will come across as self contradicting but I’m about to throw a bombshell here. Why don’t you exit your longs and wait for better entries especially if:

• After today, IOTA prices fail to close above yesterday’s highs of $5.68 and confirm that double tops of the 4HR chart, and
• IOTA bears strongly close below the middle BB.

Slack me if you want but I just noticed a couple of interesting formation that may introduce some bearish pressure on this I.o.T lubricant.

Zoom in the 4HR chart and check the minor double tops and later check that over-extension on the weekly chart. A whole damn bear candlestick closed as an inverted hammer ABOVE the upper BB after last week close.

We are in a strong buy trend yes but that is a very important formation. Remember with a (20, 2, 2) BB setting which we are using, 95% of the prices are supposed to close INSIDE the envelope.

Check out this example. A different asset class but what happened next after over-extension lead to a retest of middle BB:

Relate this to IOTA prices above:

When that happened, it fell in the 5% category and BB guidelines assign 80% chance of equilibrium in subsequent sessions.

That equilibrium is the middle BB. See those long upper wicks this week? Now guess what might happen and decide for yourself if you want to hold or not.

BUT,

If none of the above conditions happen, then our stop loss at $3.5 will remain as it is.

THIS IS BUT A CONCERN IOTA BUYERS SHOULD CONSIDER. IT’S NOT A DIRECTIVE TO SELL IMMEDIATELY. I NEED TO KNOW WHAT YOU THINK

MONERO HODLERS

The middle BB showed its significance and now you see why.

Notice how Monero bears couldn’t close below it as we had expected and the end result? $60 added and 10 more millionaires churned from Monero hodlers.

Stop losses from December 19 are still intact and so we continue hodling.

LTC AND HIS CREATOR COMPETE FOR ATTENTION

Charlie? What’s this? Damn! When you sell, we all sell because you don’t believe in the product.

I now appreciate why Satoshi Nakamoto preferred staying anonymous.

Charlie sold is LTC and that is fundamental but it affects technical patterns too. See how $75 of LTC evaporates after simple tweets? That also meant prices are back below the 20 period MA and I don’t know.

All I want to see is a strong LTC candlestick and perhaps a stochastic buy signal before maybe I call upon my friend ShapeShift to do the onus for me.

All charts courtesy of Trading View

The post DASH AND MONERO HODLERS JOINS THE MILLIONAIRE’S BOY CLUB appeared first on NEWSBTC.

Key Points

• Bitcoin cash price is stable and in a major uptrend above $3200 against the US Dollar.
• Yesterday’s highlighted connecting bullish trend line with current support at $3400 is intact on the hourly chart of BCH/USD (data feed from Kraken).
• The pair might resume its uptrend sooner or later once the current correction is over at $3400.

Bitcoin cash price remains in a major uptrend against the US Dollar. BCH/USD has to stay above $3400 in order to break the $4000 level.

Bitcoin Cash Price Rise

There were heavy gains in bitcoin cash price above $3000 recently against the US Dollar. The price traded to a new all-time high at $3997 before it faced yet another batch of sellers. A correction wave was initiated from the $3997 high and the price moved below the $3800 support. There was also a break below the 50% Fib retracement level of the last wave from the $2780 low to $3997 high.

However, the downside wave was protected by the $3200 support. Moreover, yesterday’s highlighted connecting bullish trend line with current support at $3400 acted as a barrier on the hourly chart of BCH/USD. The trend line along with the $3200 pivot acted as a major support and stopped further downsides. Additionally, the 61.8% Fib retracement level of the last wave from the $2780 low to $3997 high also prevented declines. The pair is now moving back higher and is currently above the $3400 support.

BCH buyers need to make sure that the price stays above $3400 for a push towards the $4000 level. On the other hand, a close below the trend line support and $3200 could ignite more declines toward $3000.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is now slightly in the bearish zone.

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

Major Support Level – $3400

Major Resistance Level – $4000

Charts courtesy – Trading View, Kraken

The post Bitcoin Cash Price Technical Analysis – BCH/USD Buyers in Control appeared first on NEWSBTC.

The CEO of Pantera Capital says Bitcoin could drop as much as 50% before moving to new highs, focuses on long-term vision. #NEWS

Bitcoin ETFs took another step closer to reality as the New York Stock Exchange gives its imprimatur, filing for Bitcoin-futures tracking ETF approval. #ANALYSIS

Dash’s recent rise from $1,000 to $1,570 is happening at the same time Bitcoin Cash is experiencing rapid price appreciation. Both currencies use bigger blocks and on-chain scaling. #NEWS