Day: January 4, 2018

Bitcoin Price Key Highlights

• Bitcoin price is gaining a bit of bullish momentum since breaking past the descending triangle resistance.
• Price is trading inside an ascending channel and has just bounced off support.
• Bitcoin could be headed to the top of the channel from here and the Fib extension tool shows other potential upside targets.

Bitcoin price is resuming its short-term climb and could have its sights set on the next upside targets on the Fib levels.

Technical Indicators Signals

The 100 SMA has crossed above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. This means that the short-term uptrend is more likely to continue than to reverse. In addition, these moving averages are close to the channel support and swing low, adding to its strength as a floor in the event of another dip.

Bitcoin price is currently testing the 38.2% Fibonacci extension level but could have bullish momentum enough to climb to the 50% level at $15,587. The 61.8% level is at $15,887 and the 76.4% extension is at $16,257. The full extension is located at $16,856.95.

However, stochastic is already dipping into overbought territory to signal a slowdown in bullish momentum. Turning lower could draw sellers back to the game and lead to another slide for bitcoin price. RSI, on the other hand, has more room to climb and bitcoin could follow suit.

Market Factors

Dollar weakness has been in play once more as the US currency mostly shrugged off upbeat leading jobs indicators. The Challenger job cuts and ADP non-farm employment change figure both hinted at an upside NFP surprise, but traders seem doubtful that this could shore up Fed tightening plans.

Meanwhile, bitcoin itself is under lower volatility these days as fears of increased regulation in several countries is keeping a lid on activity. Nonetheless several analysts remain bullish on price even as traders are buying up cheaper alternatives and Ripple.

The post Bitcoin Price Technical Analysis for 01/05/2018 – Small Uptrend Gaining Traction appeared first on NewsBTC.

We have two rising stars in the cryptocurrency field. Cardano (ADA) and Stellar (XLM) are now both in the top 10 largets cryptocurrencies by market cap. Let’s take a look at both and do a quick comparison.

What is Cardano Blockchain?

Cardano is now the fifth largest crypto by market cap. It is a third generation cryptocurrency and the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach.

Cardano blockchain development team consists of a large global collective of expert engineers and researchers.

Cardano’s Multiple Layers

Unlike Bitcoin, Cardano has two layers.

The first one is the Cardano Settlement Layer(CSL).  CSL works as a more efficient bitcoin, handling the balance ledger and basic transaction side of things.

The second layer is the Cardano Computation Layer. This is where decentralized apps and smart contracts built on Cardano will be based and can operate separately on the CSL layer.

These multiple layers mean that you can make changes to the platform without a fork.

Cardano’s Token, ADA Price Action

Cardano’s token, Ada, reached new highs above $1.20 this week. The reason for the surge could be the anticipation of the next major update for the platform being due for release next week.

What is the Stellar Blockchain?

Stellar aims to be a one-stop shop in the financial world, where with just one integration into the Stellar Network, everyone including, payment networks, banks and market participants have equal economic access economic. Stellar operates a network with the blockchain technology behind bitcoin. But unlike Bitcoin, Stellar’s transactions settle in 2 to 5 seconds and allow users to quickly exchange government-backed currencies, such as turning U.S. dollars into euros.

What Are Stellar Lumens XLM?

Stellar coins are officially called lumens or XLM for short when traded in the crypto exchanges. 

Lumens are technically the native asset of the Stellar network.

Native means that lumens are built into the network. Asset is how the network refers to an item of value that is stored on the ledger.

Stellar Lumens (XLM) Price Action

The native asset of Stellar, Lumens (XLM) reached for new highs at the end of 2017 and by Wednesday was up 65%. However, on Thursday it pulled back towards the 23% Fibonacci retracement level. It started Friday with a Doji candlestick pattern.

The young token remains above the Ichimoku cloud.

Both blockchains are gaining popularity with the market players. The hot debates are whether these can be the next Ethereum or the next Ripple.

Invest Responsibly,

Kiana

The post Cardano (ADA) and Stellar (XLM) Overview appeared first on NewsBTC.

This week one the largest fantasy football leagues, Fanduel, announced it’s having an NFL playoffs contest called “The Bitcoin Bowl.” The contest is giving away two BTC prizes consisting of a one bitcoin reward for its ‘free play’ match and two bitcoins for its tournament round.

Also read: Peter Thiel, Bitcoin Astronaut, Moves Markets with Crypto Moonshot

Fanduel’s Fantasy Football Contest Is Giving Away Bitcoin Prizes

Fantasy football is a popular phenomenon where participants become general managers of teams and pick players for a team roster. For the this year’s NFL playoffs, points are given during the season to fantasy football team managers based on real-world competition. Online fantasy football has made the hobby grow even larger, and there are two big companies who dominate the fantasy football online market share — Fanduel and Draftkings. This week Fanduel is having an NFL playoffs contest and will reward the winners with bitcoin no matter what they are worth at the end of the playing season.

All Fanduel users have to do is choose the right contest, pick their team’s players, and the highest score wins among all the eligible teams. The ‘free play’ match is giving away a grand prize of 1BTC at the end of the NFL playoffs. The paid tournament ($3) is giving away a grand prize of 2BTC, and there is lower winning jackpots consisting of .5 and .25BTC as well.

The Ultimate Bandwagon: Fanduel Says They Recognize Their Users Interest In Bitcoin

Fanduel has grown exponentially over the past few years, garnishing over 6 million registrants, and the firm understands the growing interest in digital assets. Andy Giancamilli, Fanduel’s chief financial officer, said his company has always searched for unique prizes. Giancamilli says the firm recognized that a lot of Fanduel’s user base has a significant interest in bitcoin.

The ‘free play’ contest will begin on January 6 at 4:35 pm EDT and the paid tournament will also start on the same day. Users who try to use the free play option can only enter the contest once or otherwise they will be removed from the contest. Users will have to provide a valid bitcoin address in order to receive the winning jackpots after the playoffs are finished.

“When your team makes the playoffs, the sky’s the limit — And from what we’ve read online, bitcoin investors know exactly how that feels,” explains Fanduel.  

So, for week one of the playoffs, we’re giving you two chances to hop on the ultimate bandwagon and play to win some bitcoins of your own.

What do you think about Fanduel’s NFL playoffs contest? Let us know in the comments below.

Images via Pixabay, Fanduel, and the NFL.

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The post Fantasy Football Giant Fanduel Launches ‘Bitcoin Bowl’ Contest appeared first on Bitcoin News.

NASAA released a new warning on cryptocurrency and ICO investment, promptly affirmed by the SEC. #NEWS

Dogecoin has set all-time high after a long period of stagnation. Yet the joke currency’s founder worries the rally is a sign of market excess.

In a blog post, Coinbase announced it would not be adding any new tokens to its exchange, putting to rest rumors that XRP was a candidate for listing.

Meanwhile, the SEC and a North American securities regulation group warned investors about risks of cryptocurrency products.

From left to right: the Head of the G-Global Business Portal Denis Tsyro, the Deputy Chairman of the Eurasian Economic Club of Scientists Hanon Barabaner, Secretary-General of the Centre Party, Member of Parliament Mikhail Korb, ChronoBank Chief Executive Officer Sergei Sergienko

In the Parliament of Estonia, Mikhail Korb, a Member of Parliament and the Secretary-General of the Centre Party of Estonia held the meeting with Sergei Sergienko, the owner of the Australian project ChronoBank, Denis Tsyro, the Head of the international organization G-Global Business Portal and Hanon Barabaner, the Deputy Chairman of the Eurasian Economic Club of Scientists.

The meeting led to the signing of a cooperation agreement between the G-Global Business Portal and ChronoBank. Parties agreed on the development of joint activities in the direction of human resources management during the digitalization of the real sector of the Estonian economy.

Consulting marketplace G-Global Business Portal is an auxiliary tool for digitalizing enterprises in Estonia. Digitalization implies the transition of the economy to new formats using cryptocurrency.

ChronoBank is ready to provide an alternative to traditional financial systems – a new generation of time-based currency utilizing the latest developments in blockchain technology.

TIME token is linked to average hourly wages, is inflation-proof and have next to zero volatility. It is possible now to tokenize labor – the most tradeable resource in the real economy. Blockchain technology is the key to discovering new employment opportunities.

The use of the TIME token at enterprises will ensure a stable evaluation of the productivity of a person during working hours. The ChronoBank system can measure the real efficiency of the employee and inform the employer about the usefulness of the employee for an enterprise.

Denis Tsyro, the Head of the G-Global Business Portal platform, will integrate ChronoBank’s systems into the consulting marketplace.

The meeting was attended by Boris Berkovs, the Board Member of the TokenEst, who also expressed a desire to take part in the tokenization of enterprises of the real sector of the economy and offered his platform for ICO placement in Estonia.

After implementation of the G-Global Business Portal in Estonia, it will be scaled to other countries.

G-Global Business Portal has an agreement on the promotion of the consulting marketplace in Kazakhstan.

The post Estonian Enterprises Will Use the Ethereum Blockchain-Based TIME Token appeared first on NewsBTC.

It seems there will be a major influx of new Ethereum-based investment opportunities/semi-Ponzi schemes very soon. Following CryptoKitties and EtherTanks, we now have a new browser-based game called EtherRacing. All three concepts are virtually the same, although the gamification element is certainly a nice touch. Whether or not people will keep investing in projects like these remains to be determined, though. After all, people will quickly lose interest as more of these “opportunities” arise.

EtherRacing Sells Virtual Racing Cars for Ether

People who are familiar with the concept of CryptoKitties will immediately understand how EtherRacing works. The concept is very similar, as interested parties can purchase cheap cars in exchange for Ether. When someone buys the exact same car as you did, you will receive a small amount of money from their purchase. This is very similar to the Ethertanks concept, although it is unclear if these two projects are run by the same individuals.

One thing that becomes rather obvious as more of these projects emerge is that they all border on being Ponzi schemes. Truth be told, Ponzi schemes are nothing new in the world of Ethereum and smart contracts. In fact, there are plenty of gambling contracts which clearly state they are Ponzis and that investors may lose money if fresh capital stops coming in. EtherRacing doesn’t state this on its website, even though people will always consider it to be on the shadier end of the spectrum.

As is usually the case with projects like these, those who invest early on will stand to make a quick profit. Some people who bought in when the project first launched made a profit within twenty minutes. Such a business model is unsustainable in the long run, though, as people will eventually move away from this project and look for the next thing to invest in. It’s a welcome change from initial coin offerings, but it bears even more risk in terms of potentially losing your money.

EtherRacing’s website lists the various models of cars that can be bought, along with their top speed, acceleration, braking, grip, and referral profit statistics. It is evident there is some good money to be made in this regard, although only if you manage to convince other people to buy the same car as you did. For now, these cars can’t be traded or raced, although those functions will be added at a later time.

As it stands now, the EtherRacing marketplace is under development. If everything goes according to plan, it will go live on January 14. This is the exact same date as when the EtherTanks marketplace will go live, which further hints at a possible link between the two projects. It will be interesting to see if this marketplace can gain any noteworthy traction in the coming weeks, though. Rest assured people will be looking to cash out as soon as possible, especially if they haven’t made a profit from referrals.

The racing aspect of EtherRacing will not go live until further notice. The tool is currently in private beta, although not too many details have been made public about that just yet. It will be entirely browser-based and powered by the Unity engine. Users who win races will earn Ether, but no further details have been announced at this time. Rest assured there will be some interest in this particular aspect of EtherRacing. Whether or not a lot of people will lose money by buying these virtual cars has yet to be determined.

In these past few years, there has been a tremendous growth in interest in blockchain technology and cryptocurrencies in general. It showed businesses a new capital investment model – Initial Coin Offerings. ICOs are the new way of startup financing due to the inclusivity and global outreach offered. The technology offers a number of unique benefits, and the token sale is quickly becoming a valuable way to raise startup funds. With the ever-growing number of startups and up-to-date technologies, there really isn’t going to be another such exciting time to be a cryptocurrency investor.

Perhaps the most advanced beneficiary of the blockchain protocol is the gaming industry. In this year alone, the sector has witnessed an increase in development and adoption of blockchain powered gaming platforms as the annual revenues exceed $116 billion. Further contributing to the revolution is the growth in spending on video games by the millennial generation as gaming consoles replace PCs as the preferred gaming platform. A recent analysis by GameIndustry.biz shows that players are playing on consoles as much as they are on PCs. Now, with the implementation of blockchain solutions, PC gaming could once again witness exponential growth.

Game Machine is one particular startup in the gaming industry to have embraced blockchain technology. The platform plays a unique role in the gaming industry by creating a loyal gaming audience while bringing together all the stakeholders including game developers, gamers, advertisers, game studios and more. The platform is powered by GMIT tokens and uses a combination of Limited Proof of Work, Proof of Authority and Proof of Stake principles to ensure transparency while maintaining credibility of the ecosystem. The main features of Game Machine include Game Crowdfunding through Rise Machine, Game Machine Client for mining, Ads machine – Advertising Exchange and the Exchange Machine – a cryptocurrency exchange for gamers.

Through Game Machine, developers can raise necessary funds to create and launch their dream games, gamers can earn by playing and advertisers get sufficient exposure within and outside the gaming community.

Currently in the midst of an ongoing token sale, Game Machine is an ambitious project that is powered by a clear vision and fundamental ideas. Established in March 2017, the team of bright-minded individuals has since achieved more towards the firm’s ultimate goal. Game Machine’s CEO, Taras Dovgal explains in a news release;

“Game Machine is constantly developing and growing. Currently, the team consists of 15 members. It isn’t a big group, but we can easily say that we’re friends and are united by the same ideas. We also have additional help from talented marketers, designers, and traffic-managers”.

Game Machine has already produced a working product. The team has just released an Open Beta version of its client app, which consists of a miner and a store of items for popular games such as CS:GO and DOTA 2. The client app has attracted over 30,000 users in less than a month and a half as gamers only need to share their PC’s processing power and not hard-earned money.

As the product development continues, the platform aims to further expand its library of games and other digital items as more and more projects are included in the pool. In 2018, the Game Machine team looks forward to providing constant product updates while releasing the first version of the app for developers and investors. The platform has already raised close to $1 million through the ongoing token sale. And those planning to participate stand to receive a 5% bonus for a limited time. The GMIT crowdsale will continue until January 31, 2018. Once the token sale is over, GMIT will be listed on at least 3 major exchanges, ready for exchange and trading.

Token holders will also be able to sell their tokens to gamers and developers for a better price. They can also invest in the most promising projects on Game Machine by following complex data and quality predictions supplied by the platform.

In the near future, Game Machine will be implementing neural networks and artificial intelligence into the platform, which will play an important role in tackling instances of fraud.

More information about Game Machine and its ongoing token sale is available at – https://goo.gl/BFLAo6

The post Get Ready for the New Year’s Blockchain Boost! appeared first on NewsBTC.

Ripple has a complicated relationship with its native cryptocurrency XRP, one that critics contend many recent buyers of the token may not understand.

Newly found security flaws affect most devices, TREZOR confirms its products are unaffected. #NEWS