Day: December 26, 2017

Key Highlights

• Ethereum classic price has formed a support base at $25 against the US Dollar.
• There was a break above a major bearish trend line at $29.00 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
• The pair might continue to move higher towards or above the $32 level in the near term.

Ethereum classic price is slowly gaining pace against the US Dollar and Bitcoin. ETC/USD may continue to move higher above the $32 level.

Ethereum Classic Price Upside Move

It seems like a decent support base formed around the $25.00 level in ETC price against the US Dollar. The price moved higher and broke the $26.00 resistance level. There was a break above the 23.6% Fib retracement level of the last decline from the $41.00 high to $24.89 low. ETC buyers were successful in breaking the $27.00 resistance and the 100 hourly simple moving average.

More importantly, there was a break above a major bearish trend line at $29.00 on the hourly chart of the ETC/USD pair. At the moment, the pair is attempting a break above the 38.2% Fib retracement level of the last decline from the $41.00 high to $24.89 low. Once there is a proper close above the $31.09 resistance, there can be more gains. The price could easily move further higher above the $32.00 level. The next resistance is around the 50% Fib retracement level of the last decline from the $41.00 high to $24.89 low.

On the downside, the $29.00 level and the 100 hourly SMA is a decent support and a buy zone. The overall trend is positive above the 100 hourly SMA and the price could easily break the $32.00 level in the near term.

Hourly MACD – The MACD for ETC/USD is almost flat and is showing a few bullish signs.

Hourly RSI – The RSI for ETC/USD is currently well above the 50 level is moving higher.

Major Support Level – $29.00

Major Resistance Level – $32.00

Charts courtesy – Trading View, Kraken

The post Ethereum Classic Price Technical Analysis – ETC/USD to Break $32 appeared first on NEWSBTC.

All the forking around in recent months has caused a lot of confusion, not to mention some unhealthy chart spikes for Bitcoin. However according to the project’s official website the controversial SegWit2x hard fork will go ahead on December 28. Months of infighting and debate were the result of SegWit2x which was originally planned to fork from BTC in November but was cancelled at the last minute.

Project leader, Jaap Terlouw, now says it will fork off at block 501451, which is due tomorrow at some stage. Confirmation that the hard fork will go ahead this time can be found on the project roadmap and on the website;

“Commission and transaction speed within the Bitcoin network has reached extraordinary values. It is almost impossible to use it as a means of payment. Our team will carry out the Bitcoin hard fork, which was planned for mid-November. At the same time, trading of its futures has been carried out on some exchanges for a long time.”

Traders tend to jump on the digital train in hope of getting extra coin when the blockchain splits. It is likely to happen again this time with the founder promising that in addition to the common practice of crediting BTC holders with equivalent balances of the new coin, B2X, they would also receive;

“a proportional number of Satoshi Nakamoto’s Bitcoins as a reward for their commitment to progress.”

In reality it is down to the exchanges to honor this pledge and not all of them will. The project’s roadmap includes a number of upgrades and features such as Lightning Network support, smart contracts, and anonymous transactions.

The most successful fork in recent months has been Bitcoin Cash which advocates claim to be the real Bitcoin. Its epic rise in price has bolstered this view as it is now the third most popular cryptocurrency by market capacity with just over $50 billion. BCH has climbed 900% since mid-October and is currently trading around $3,000.

Forks have been plentiful in the past couple of months and there is now Bitcoin Gold, Bitcoin Diamond, Bitcoin God, and Bitcoin Plus. There could be a lot more to come adding to the Bitcoin bewilderment such as; Bitcoin Silver, Bitcoin Uranium, Bitcoin Platinum, Bitcoin Cash Plus, Lightning Bitcoin, and Super Bitcoin. Is it any wonder that many of us are getting a little forked off!

The post Stick a fork in it; SegWit2x is back appeared first on NEWSBTC.

On March 1, Istanbul will host a large-scale event Blockchain & Bitcoin Conference Turkey, dedicated to the study of the role of blockchain technology and cryptocurrencies in the modern world.

Why Turkey? The country experiences an active development of the blockchain technology and cryptocurrency market. Currently, the country has successful digital assets exchanges Lira-Bitcoin and BTCTurk, and cryptocurrency payment systems Payza and Bitwala. In September, Turkey offered for sale apartments that could be purchased for bitcoins, and the main airport of Istanbul has Bitcoin ATM. According to the results of international studies, the number of Bitcoin enthusiasts in the country is growing every day.

The authorities haven’t yet developed an official position regarding the cryptocurrencies. In 2013, they announced that using digital assets is risky; however, in 2017, their narrative changed dramatically. In early November, the president of the Central Bank of Turkey (CBRT) Murat Cetinkaya said that, theoretically, with the help of cryptocurrency, it is possible to restore the country’s financial stability.

The organizer of the conference is the international company Smile-Expo, which has carried out 11 successful Blockchain & Bitcoin Conference events all over the world in 2017. These events attracted thousands of visitors, and Blockchain & Bitcoin Conference Moscow became the largest one in Russia. Now, the company enters the Turkish market, as it sees the development prospects for the cryptocurrency.

The conference will be interesting for developers, entrepreneurs, financial specialists, investors, business angels, lawyers, security solutions providers, blockchain startup authors, as well as representatives of banking and financial institutions, credit companies and payment systems.

Blockchain & Bitcoin Conference Turkey will include three sections:

• Blockchain technology and practical solutions based on it.
• FinTech and Blockchain.
• ICO

Among the speakers are representatives of the authorities, the leaders of the Turkish market in the field of blockchain and fintech, as well as the most influential people in the field of cryptocurrency.

The event will also feature an exhibition area, where companies will present their latest mining equipment, as well as innovative blockchain-based software and applications.

The official language of the conference is English.

Sale of tickets is already open. When buying tickets before January 31, 2018, you save up to 60%. More details on prices can be found on the official website of Blockchain & Bitcoin Conference Turkey: https://goo.gl/T8D9fT

The post Blockchain & Bitcoin Conference Turkey: Istanbul to discuss blockchain technologies and future of digital economy appeared first on NEWSBTC.

Key Highlights

• Ripple price is gaining momentum and is currently above the $1.00 handle against the US Dollar.
• There is a major bullish trend line forming with support at $1.05 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair might correct a few points from the current levels, but it remains supported above $1.05.

Ripple price is moving in the bullish zone against the US Dollar and Bitcoin. XRP/USD might continue to move higher towards the $1.25 level.

Ripple Price Support

There was a fresh upside wave initiated from the $0.8000 swing low in Ripple price against the US Dollar. The price traded higher and broke a few important resistances near $0.9000 and $1.00. The upside move was strong and the price was able to move above the $1.10 level as well. During the upside move, the price broke a bearish trend line on the hourly chart at $1.02. It opened the doors for more gains and the price traded as high as $1.17.

Later, it faced sellers and started a downside correction towards $1.1000. It is currently trading near the 23.6% Fib retracement level of the last wave from the $0.8600 low to $1.1718 high. There are many supports on the downside at $1.05. There is also a major bullish trend line forming with support at $1.05 on the hourly chart of the XRP/USD pair. The trend line support is important at $1.05. It is also near the 38.2% Fib retracement level of the last wave from the $0.8600 low to $1.1718 high.

There is a chance of a minor downside correction towards $1.05. However, the price remains supported on the downside and it may soon move higher towards $1.25.

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 correcting lower from the overbought levels.

Major Support Level – $1.0500

Major Resistance Level – $1.2000

Charts courtesy – Trading View, Kraken

The post Ripple Price Technical Analysis – XRP/USD Gaining Momentum appeared first on NEWSBTC.

The business model that Wikipedia, Survey Monkey, Quora and others have followed needs changing. With the advent of token-backed platforms, there is a whole new realm of possibilities for the knowledge-sharing space. #SPONSORED

Bitcoin Price Key Highlights

• Bitcoin price appears to be recovering from its pre-Christmas slump, forming higher highs and higher lows again.
• Price is trading inside an ascending channel pattern and is currently testing the resistance.
• A pullback to support could be due and using the Fib retracement tool shows the potential inflection points.

Bitcoin price is slowly starting to trend higher once more, possibly rebounding from the slide in the previous week.

Technical Indicators Signals

The 100 SMA is still below the longer-term 200 SMA on this time frame, so the path of least resistance is to the downside. This means that the selloff is more likely to resume than reverse.

However, the gap is narrowing to signal weakening bearish momentum. If an upward crossover materializes, bullish pressure could kick into high gear and allow the uptrend to continue.

Stochastic is also on the move down, though, so buyers might be taking it easy. This could allow bitcoin price to retreat to the channel support at $14,000 near the 61.8% Fibonacci retracement level. A shallow pullback could find a floor at the 38.2% Fib closer to $15,000 and the mid-channel area of interest.

RSI has plenty of room to head south, so bitcoin price might follow suit until both oscillators hit oversold levels and turn back up.

Market Factors

Analysts are attributing the recent climb to improved access to buying cryptocurrencies. However, Coinbase suffered a backlog of outgoing transactions earlier on and the issue remains unresolved.

“Due to high volume, we are experiencing a backlog of outgoing transactions for BTC and ETH. … Outgoing transactions of BTC and ETH may be delayed by several hours.”

Event risks involve additional network upgrades or “hard forks” but rising investor interest appears to have been enough to keep bitcoin price supported. After all, bitcoin futures on the CBOE and CME have allowed access to more institutional and retail investors.

Still, the dollar could prove to be a worthy opponent as the signing of the tax bill into law would be very positive for the US economy.

The post Bitcoin Price Technical Analysis for 12/27/2017 – Rebound Underway? appeared first on NEWSBTC.

Cardano (ADA) has benefited from a market filled with bullish exuberance, exploding in price from under US$0.03 to US$0.41 in less than three months, a gain of over 1500%. The market cap currently stands at US$13.11 billion with US$96.56 million traded over the past 24 hours.

Bitcoin’s markets may be booming but it’s the network’s rare development talent that may be most valuable.

The incredible bitcoin price rally this year has attracted a lot of new people to the cryptocurrency world, many of them just looking to make a quick buck without understanding too much what they are getting into. Naturally this kind of situation attracts criminals that look to exploit it, the most recent example being a gang in India.

Also Read: Tax Investigators Raid Bitcoin Exchanges Across India

Local Bitcoins Gang

The Uttar Pradesh Special Task Force (STF) has announced it recently busted a gang targeting local people interested in trading bitcoin. The alleged criminals used the Localbitcoins service find their victims, offered them discounts from the going rates to entice them into sending fiat and than never deliver the bitcoin. The police say they were flooded with multiple complaints based on the same operational method which prompted them to take action.

“There are sites where people can trade in cryptocurrency where both buyers and sellers are available. The gang first lured traders to purchase the Bitcoins at low prices and even transferred some into their e-wallets to win their trust,” said the head of the STF’s cyber wing, superintendent Triveni Singh.

“After this, the fraudsters got the original currency transferred into their bank accounts, opened on forged identities, when the traders demanded bigger amount of Bitcoins. They disappear after withdrawing money from their bank account,” police officer Singh added.

Unintended Consequences

While the police acted to protect bitcoin investors in this case, it could be the authorities’ fault that such cases will continue to happen in India. This is because the country’s bitcoin exchanges are currently facing the threat of a government crackdown, investigating their records for potentially facilitating tax evasion by ‘high net worth’ individuals.

Indian demand for bitcoin is booming these days, trade volume shows, leading people to even ask it as their wedding gift. If the legitimate online exchanges become too burdened with heavy handed regulations, or won’t be allowed to operate freely at all, as some fear might happen, offline trading will surely fill the gap.

How do you make sure not to be taken advantage of when trading bitcoin offline? Share your thoughts in the comments section below!

Images courtesy of Shutterstock.

Want to create your own secure cold storage bitcoin paper wallet? Check our tools section.

The post Indian Police Forces Break up Gang Preying on Bitcoin Investors appeared first on Bitcoin News.

Crypto Entrepreneur and Educator Dr. Julian Hosp predicts more extreme volatility for Bitcoin in 2018.

January 1 will be the start of the Public Sale for ShipChain, the project that will use blockchain to change the shipping & logistics market.

ShipChain encompass all methods of freight, and will include an open API architecture that can integrate with existing freight management software.

Simply put, it’s a fully integrated system across the entire supply chain, from the moment a shipment leaves the factory, to the final delivery on the customer’s doorstep; trustless architecture, and transparent blockchain smart contracts.The movement of goods has a significant and growing influence on the daily lives of people around the world.

According to a market report published by Transparency Market Research, “The market’s global value was $8.1 trillion in 2015, and is expected to grow to $15.5 trillion by 2023 , making it one of the largest industries on the planet. The industry is currently 10% of the United States GDP.

Today, the supply chain has serious bottlenecks. The lack of a unified platform prevents the various players from interacting efficiently. Most of the participants in the supply chain use outdated ways to track their shipments. Given that upwards of 65% of the value of a company’s products or services is derived from its suppliers and its supply chain, utilizing older highly ineffective systems results in tremendous amounts of wasted time, resources, and money.

ShipChain was established to address the most significant problems facing the logistics industry today.   The fully integrated system will track across the entire supply chain–from the moment it leaves the factory, field, or farm–to delivering the finished product to the customer’s doorstep; a  trustless system, and transparent blockchain contracts.

The ShipChain system uses an Ethereum smart contract that can be used by anyone to orchestrate a shipping escrow on the distributed ledger. The overall shipment completion will be stored on the main Ethereum blockchain, and to keep costs low, individual tracking waypoints and load data can be stored and verified in an associated side-chain operating on the ShipChain Protocol, such as the one ShipChain Foundation.” Large partners will be able to operate their own ShipChain side-chains, with aid from ShipChain Foundation.

The public sale will be held in January 2018. 29.17 million SHIP tokens will be sold.It is planned to raise approximately $10 million in ETH. $0.342 per token is the ICO price.
Company website:https://shipchain.io/index.html
White Paper (EN/CN/RU/ES/KR/JP):https://shipchain.io/shipchain-whitepaper.pdf

The post ShipChain Using Blockchain to Change the Shipping & Logistics Market appeared first on NEWSBTC.