Day: January 11, 2018

Bitcoin Core contributor and maintainer Jonas Schnelli is on a mission to make running full nodes easier for non-geeks. Decentralization is at stake.

Key Highlights

• Ripple price remained in a bearish trend and it traded below the $1.60 support against the US Dollar.
• This week’s highlighted major bearish trend line with current resistance at $1.85 is preventing upsides on the hourly chart of the XRP/USD pair (data source from Kraken).
• The price remains at a risk of more losses as long as it is below the $1.80 level.

Ripple price declined further against the US Dollar and Bitcoin. XRP/USD tested the $1.50 level and it is currently placed in the bearish zone for more declines.

Ripple Price Decline

There was no respite for Ripple price as it extended declines below the $1.75 level against the US Dollar. The price moved down and broke the $1.60 support level as well to trade towards $1.50. A low was formed at $1.5002 and it seems like the current bearish pressure is here to stay. A tiny recovery is underway from $1.50. XRP is currently testing the 23.6% Fib retracement level of the last drop from the $2.05 high to $1.50 low.

There are many resistances on the upside near the $1.75 and $1.80 level. An initial resistance is around the 50% Fib retracement level of the last drop from the $2.05 high to $1.50 low. Moreover, this week’s highlighted major bearish trend line with current resistance at $1.85 is preventing upsides on the hourly chart of the XRP/USD pair. Therefore, there is a clear major resistance forming near $1.80. A break above the $1.80-1.85 levels is needed for buyers to take back the lost control.

On the downside, the recent low of $1.50 is a decent support. XRP must hold $1.50 to avoid further declines toward $1.25 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 recovering from the 30 level.

Major Support Level – $1.50

Major Resistance Level – $1.85

Charts courtesy – Trading View, Kraken

The post Ripple Price Technical Analysis – XRP/USD Bearish Pressure Escalates appeared first on NewsBTC.

Thinking of break out trades? If so, it’s time to buy Lumens. Why? First, prices are reversing from key Fibonacci retracement levels and secondly, at the moment Lumens coin is hot property. As such, riding with positive vibes-or anti-FUD news is always a good move.

Alternatively, if you are thinking of Monero buys, you should wait for a retest of 0.025 BTC for sweet entries-and by that I mean low risk and potential of high rewards entries.

Otherwise, the boring accumulation in other high cap alt coins on focus is not helping spread my “bullish” gospel!

Let’s have a look at other alt coin charts

NEM IN CONSOLIDATION

24Hours later and NEM prices are flat and consolidating horizontally.  Of course from the way price action is set up, especially now we have this accumulation, it gets hard to define trend direction.

For certainty, we need NEM prices to close above the 50% Fibonacci retracement level.

The longer it stays in consolidation mode, the stronger the break out. Buyers can take cue from candlestick higher highs relative to the lower BB in the 4HR chart which might hint of buy pressure today.

TIME TO BUY LUMENS

Now that we have that close above the middle BB, Lumens buyers can begin loading up their position as price action is now aligning to last week’s trend.

Besides, this specific close above middle BB is in line with yesterday’s forecast.

IOTA ACCUMULATES ALONG THE MIDDLE BB

The main resistance trend line stays as IOTA ceiling for now. Unless there is a strong close above it today, buyers should stay on the sidelines as they wait for a strong close above our trigger line.

From yesterday’s price action, movement in either direction was limited safe for that encouraging retest and minor consolidation along the middle BB.

I’m not relying on the 20 period MA for obvious reasons-consolidation in the weekly chart due to those spinning tops. I recommend longs but that trade must be backed by buyers.

0.025 BTC IS MONERO’S MAIN SUPPORT

All in all, we are trading a break out on this currency pair after that close above the main support line at 0.025 BTC.

Even though there were hints of support at the middle BB on our entry time frame, Monero continued to weaken.

There are two things that can happen today:  Either bears press lower or in that case we expect reaction at the main support line OR Monero prices close above the middle BB and hopefully trigger buy stops at 0.028 BTC.

I’m rooting for the later due to lack of confirmation of the bear candlestick that closed below the middle BB.

CLOSE ABOVE 0.018 BTC WILL BE A LTC BULL MAGNET

It’s better to stare at a wall than watch LTC move for sure. That’s how boring price action has been over the last 24 hours.

While the BB squeeze continues, the middle BB continues to shore prices as an obvious consolidation continues.

Relative to the descending channel-within which price action is moving in, there are some hints of bull pressure and a probable retest of the upper limit so long as prices continue to move horizontally as it is.

From our forecast, any bull break out might be a bull magnet.

All charts courtesy of Trading View

The post TIME TO BUY LUMENS appeared first on NewsBTC.

Symmetry Fund boasts a less risky and less confusing structure for a cryptocurrency fund, promising large returns on initial investments.

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Taking the Confusion Out of Crypto

As cryptocurrency receives more coverage in mainstream media, more people desperately want to invest in the skyrocketing currencies but are simply too confused to know where to begin. Symmetry Fund hopes to solve this problem.

Symmetry Fund offers a structure very similar to a mutual fund for investors to begin investing in cryptocurrency. A driving factor behind this is that is cuts down on the complexity of investing in crypto which allows investors to focus less energy on managing their resources. The project also aims to create a stable, transparent fund as cryptocurrency is becoming more intertwined with governments and establishments, a possible sign of future regulatory policies.

SYMM plans to generate most of its revenue through various cryptocurrency trades, much like a mutual fund will invest in stocks or bonds. The firm also plans to invest in promising ICOs early, similar to Ethereum or Litecoin, which promises large returns if done responsibly.

SYMM is not the first investment fund to deal with cryptocurrency, but the firm is making key changes that will ensure investors make profitable returns.

One problem the firm intends to assuage is the manner in which funds charge investors. Current mutual funds will take a set percentage of portfolio annually, a system that benefits fund managers more than investors. However, SYMM will charge their clients based on the performance of the fund, meaning SYMM only receives payment when investors do well.

Additionally, the company has a reserve system in place to prevent any large-scale losses. SYMM will retain 10% of their portfolio in fiat currencies in order to mitigate risks associated with the large price fluctuations of cryptocurrency. Although the 10% will be exposed to the large spikes in the cryptocurrency market, this means it will not be exposed to the dips either.

Lastly, SYMM has authorized the use of a third-party auditor to emphasize transparency and credibility for investors.

Symmetry Fund ICO and SYMM Tokens

Symmetry Fund’s ICO is scheduled in two rounds. The first round began on December 10th, 2017 and will continue until February 10th, 2018. The second round begins on February 10, 2018 and runs through April 10, 2018.

Each share comes as a SYMM token. During the initial ICO, these will be offered at an initial value of 0.1 ETH and can then be traded at market rates, allowing holders to cash out at any time.

The soft cap for the ICO is 3,000 ETH, which has almost been reached with an entire month yet to go in the first round. There is no hard cap.

At the conclusion of both rounds, dividends for each round are expected to be paid out. The first payment will come in April 2018 for first-round investors, and in June 2018 for second-round investors.

For more information about Symmetry Fund please visit symmetry.fund and download the project whitepaper.

The post New Symmetry Cryptocurrency Fund Aims to Minimize Confusion Associated With Crypto Investment appeared first on NewsBTC.

Research has shown that Bitcoin is a bit of a Veblen good — a product which gains its appeal from the social status attained by owning it. #ANALYSIS

OFFICIAL: South Korean Government Says No Cryptocurrency Trading Ban, Petition Calls For Firing of Ministry of Justice Head #ANALYSIS

Bitcoin Price Key Highlights

• Bitcoin price has formed lower highs and found support at $13,000, creating a descending triangle pattern.
• Price is currently testing the bottom of the formation and might be due for  bounce back to support.
• Technical indicators appear to be signaling that the consolidation could carry on.

Bitcoin price is trading inside a descending triangle pattern and is currently testing support.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA on this time frame, so the path of least resistance is to the downside. This suggests that the triangle support is more likely to break than to hold, possibly sending bitcoin price down by $6,000 or the same height as the triangle formation.

These moving averages are also close to the triangle resistance, adding an extra ceiling in the event of a move higher. Stochastic is pointing down to show that sellers have the upper hand but RSI looks ready to turn higher and indicate a return in bullish momentum.

Market Factors

The US dollar was actually on weak footing as PPI numbers turned out weaker than expected and traders set their expectations lower for today’s CPI release. Note that downbeat inflation expectations are likely to weigh on Fed tightening odds.

Meanwhile, bitcoin price continues to reel from the lack of market interest as investors appear to be flocking to altcoins instead. South Korea also announced plans to ban bitcoin trading in the country, likely putting a huge dent on overall market activity.

In China, the government also ordered several mining facilities to close, causing costs to mine to surge.

“Some of our long-term hosting partners are facing a crisis of farm closure as mining resources in mainland China become more scarce, leading to rocketing costs of our cloud mining operation,” a statement from ViaBTC Technology Ltd., which runs the fourth-biggest bitcoin mining collective, said. “To guarantee the long run of cloud mining, ViaBTC has no choice but have to readjust our maintenance fees.”

The post Bitcoin Price Technical Analysis for 01/12/2018 – New Triangle Forming appeared first on NewsBTC.

Key Points

• Bitcoin cash price after trading as high as $2948 started a new downside wave against the US Dollar.
• There was a break below a short-term bullish trend line with support at $2560 on the hourly chart of BCH/USD (data feed from Kraken).
• The pair is now back in the bearish zone below $2600 and the 100 hourly simple moving average.

Bitcoin cash price reversed all its gains from the $2950 high against the US Dollar. BCH/USD is now below $2600 and is showing a few bearish signs.

Bitcoin Cash Price Resistance

It was a bullish run yesterday from the $2550 swing low in bitcoin cash price against the US Dollar. The price traded above the $2800 level and formed a high at $2948. Later, it faced a lot of selling pressure and the price tumbled below the $2700 and $2600 support levels. During the downside move, the price also cleared the $2580 support and settled below the 100 hourly simple moving average.

Moreover, there was a break below a short-term bullish trend line with support at $2560 on the hourly chart of BCH/USD. It seems like the pair has trimmed most of its gains and is currently in the bearish zone below $2500. The recent low formed was at $2353 from where the price attempted a recovery. It moved above the 23.6% Fib retracement level of the last drop from the $2948 high to $2353 low. However, the upside move was capped by the $2550 resistance and the 100 hourly SMA.

Furthermore, there was no break of the 38.2% Fib retracement level of the last drop from the $2948 high to $2353 low. Clearly, BCH is struggling below the $2500 level and it remains at risk of more declines.

Looking at the technical indicators:

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

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

Major Support Level – $2350

Major Resistance Level – $2550

Charts courtesy – Trading View, Kraken

The post Bitcoin Cash Price Technical Analysis – BCH/USD Trims Recent Gains appeared first on NewsBTC.

Fried chicken chain KFC Canada is accepting bitcoin for a limited time for a so-called “Bitcoin Bucket.”

While all eyes are on major cryptocurrencies and those on the top 10 largest market cap list, let’s take a moment to introduce some lesser known altcoins and new ICOs. Today’s we’ll be looking at Zcash and KodakCoin.

Zcash (ZEC) Overview

Zcash is a decentralized and open-source cryptocurrency. Zcash coin code is ZEC. Standing at the 23rd position in terms of cryptocurrency market cap, Zcash aims to differentiate itself from others by focusing a great deal on privacy.

According to their website, Zcash is based on peer-reviewed cryptographic research and built by a security-specialized engineering team on an open source platform based on Bitcoin Core’s battle-tested codebase.

What’s Unique About Zcash?

Zcash enables users to send public payments which work similarly to Bitcoin. With the support for both shielded and transparent addresses, users can choose to send Zcash privately or publicly. Zcash payments sent from a shielded address to a transparent address reveal the received balance, while payments from a transparent address to a shielded address protect the receiving value.

While this feature could be appealing to criminals, Zcash believes companies need the protection of privacy along with their supply chain in order to conduct their business, especially in the context of public blockchains. In addition, they believe that personal privacy is necessary for core human values like dignity, intimacy, and morality.

ZEC Price Action

Unlike many of its crypto peers, Zcash ZEC actually started its journey high, at $30,000 in October 2016. It then dropped sharply to as low as $30 within two months. In mid-2017 it started to gain momentum, now fluctuating between $800 and $500.

It is currently supported by the 23% Fibonacci retracement level on the daily chart, while trading above the Ichimoku cloud.

KodakCoin Pre-Selling Ahead Of ICO

The other altcoin we’d like to look into today is KodakCoin. A new cryptocurrency from that photo company you haven’t heard of since you used a disposable camera.

It is actually a Vancouver-based company called Global Blockchain Technologies Corp. which is licensed by Kodak to use its name for this new cryptocurrency.  They have already begun pre-selling the cryptocurrency ahead of a public initial coin offering (ICO), sinking $2m into Kodak Coin. They have reportedly subscribed to all 8m Kodak Coins available in the pre-ICO first stage. The ICO date is not specified yet.

How Will KodakCoin Work?

The KodakOne platform will use the blockchain technology to enable photographers and agencies to register their work, sell rights to images and receive payment using KodakCoin. Participating photographers will receive payment for licensing their work immediately upon sale. Both professional and amateur photographer can sell their work confidently on a secure platform.

Final Thoughts

By now, you must know that cryptocurrencies have proven to be largely unpredictable in terms of price action. Therefore, looking into altcoins and diversifying as much as possible could be one way to manage your risk.

The post Lesser Known Altcoins to Look into: Kodakcoin and Zcash appeared first on NewsBTC.

XBT.com, one of the web’s most desirable domain names, is up for sale. Its current owners, XBT Holding SA, are seeking 200 BTC – or about $2.9 million – for the site. The domain is coveted partially because XBT is the abbreviation that many institutional trading platforms use for bitcoin, and also on account of the site’s notoriety, having been linked to the hacking of the US Democratic Party.

Also read: Hive to Place Its $100Mn USD Bitcoin Mining Operations in Northern Sweden

Buy XBT with BTC

It’s not often a three-letter dot com domain goes up for sale, but when it does, it’s guaranteed to command a premium price tag. XBT.com is of particular interest to bitcoiners, given that the letters XBT are synonymous with bitcoin in some circles. This connection accounts for why the web hosting company in charge of the domain have elected to capitalize on the bitcoin boom and price the domain in BTC.

200 BTC is the starting bid for XBT.com, whose holding page currently shows a “buy now” button or the option to place a bid, complete with the price of bitcoin in real-time, denominated in XBT. There’s more to the site than a cool name and a convenient bitcoin connection though: the backstory to XBT.com is the most enthralling part of the whole affair.

Buzzfeed, Trump, and the Damaging Dossier

In January 2017, Buzzfeed published a story based on information supplied by research group Fusion GPS. It contained a series of allegations about XBT, the Luxembourg-based company currently selling the domain of the same name. XBT, in conjunction with its Webzilla subsidiary, had been complicit in stealing data from the Democratic Party including a damning dossier on Donald Trump, the allegation went. XBT’s former CEO Aleksej Gubarev was named specifically in the report, supposedly abetted by Russia’s Federal Security Service.

XBT and its then-CEO bitterly contested these allegations, but the cat was already out the bag, and the company’s reputation and finances took a hit. Gubarev and XBT took Buzzfeed to court over the story, in a case which is still ongoing in a Florida court. XBT and Buzzfeed have been sniping ever since, with the Luxembourg-based company filing a response to Buzzfeed’s attempt to have the lawsuit dismissed entitled “Six Ways BuzzFeed Has Misled the Court (Number Two Will Amaze You) … And a Picture of a Kitten”.

Bloomberg quotes Gubarev, via his lawyer, as saying:

This domain has way more value in the hands of someone in the cryptocurrency business. Also, the brand name of XBT has severely suffered due to the false allegations in the dossier, and we are considering re-branding as the result of the reputational damage.

XBT’s loss can be one bitcoin entrepreneur’s gain, but they’ll need to dig deep for the privilege. Aside from the 200 BTC asking price, the auction requires a deposit of $10,000 or 0.5 BTC just to eligible to bid. With no bids received so far, it remains to be seen whether XBT will succeed in shifting one of the web’s most infamous domains.

Do you think XBT.com is a desirable bitcoin domain? Let us know in the comments section below.

Images courtesy of Shutterstock, and XBT.com.

Tired of those other forums on the subject of Bitcoin? Check forum.Bitcoin.com.

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