Key Highlights Ethereum fell through today’s $590.1 support level against the U.S Dollar this morning, following Monday’s 18.68% fall to a closing $697.95. A major bearish trend continues with the next major support level for ETH/USD sitting at $511.33. At the time of writing, ETH/USD is sitting close to its intraday low $555.56 at $568.82, … Continue reading Ethereum Technical Analysis – Is a Floor in Sight for ETH/USD? 06/02/2018
Ethereum fell through today’s $590.1 support level against the U.S Dollar this morning, following Monday’s 18.68% fall to a closing $697.95.
A major bearish trend continues with the next major support level for ETH/USD sitting at $511.33.
At the time of writing, ETH/USD is sitting close to its intraday low $555.56 at $568.82, with further declines through the day likely.
Ethereum Price Support
Following a closing $697.95 on Monday, 5th February, it’s been downhill all the way for ETH/USD, with today’s first support level of $590.1 falling away as sentiment towards the cryptomarket continued to deteriorate in the early part of the day, with ETH/USD hitting a swing low $555.56 in the early hours.
Since touching an intraday low, ETH/USD has found a little upside, with the pair trading within tight ranges through the middle part of the morning.
The trend continues to look bearish for ETH/USD, with a fall through to the next support level of $511.33 likely to lead to more significant losses through the day.
There is some wiggle room, however, with ETH/USD first resistance level sitting at $802.15, though a 23.6% FIB retracement of $713.31 will likely stifle any moves towards $802.15.
A move back through $713.31 later in the day will likely have plenty of sellers, with ETH/USD unlikely to find too much support at $700 levels this afternoon.
With the negative market sentiment unlikely to abate through the early part of the week, any upside through the day will likely be short-lived barring a shift in sentiment that would need to be driven by a shift in regulatory chatter. We don’t expect the PBoC or other regulators to step in to ease the cryptomarket panic, which should maintain the bearish outlook for them ahead.
Bitcoin’s Price Has Nearly Unwound Its Futures Boost CoinDesk Bitcoin’s drop to 3-month lows below $6,000 could be seen as the completion of a round trip. On Nov. 1, bitcoin (BTC) prices received a shot in the arm on news that derivatives marketplace operators CME Group, Cboe and Cantor Fitzgerald were …
Bitcoin's Price Has Nearly Unwound Its Futures Boost CoinDesk Bitcoin's drop to 3-month lows below $6,000 could be seen as the completion of a round trip. On Nov. 1, bitcoin (BTC) prices received a shot in the arm on news that derivatives marketplace operators CME Group, Cboe and Cantor Fitzgerald were ...
With all cryptocurrency markets still in the double-digit losses as we speak, it is all the more surprising to see Status go up in value. With a Status price of $0..211, we are looking at a solid 9.5% increase over the past 24 hours. All of this is made possible thanks to solid gains over both Bitcoin and Ethereum, as these two currencies are struggling massively right now. Status Price Bucks the Negative Trend It almost seems impossible for any cryptocurrency or digital asset to go up in value during times like these. Interestingly enough, nothing is impossible in this
With all cryptocurrency markets still in the double-digit losses as we speak, it is all the more surprising to see Status go up in value. With a Status price of $0..211, we are looking at a solid 9.5% increase over the past 24 hours. All of this is made possible thanks to solid gains over both Bitcoin and Ethereum, as these two currencies are struggling massively right now.
Status Price Bucks the Negative Trend
It almost seems impossible for any cryptocurrency or digital asset to go up in value during times like these. Interestingly enough, nothing is impossible in this industry of new forms of money. While it is true Bitcoin, Ethereum, XRP, and all others are dropping like a brick, the Status price is doing the exact opposite. It has been an interesting week for the Status price, to say the least, as most of the losses have been recovered at this point.
Similar to all other assets and currencies, the Status price has suffered from highs and lows over the past week. Whereas one SNT was valued at $0.28 a week ago, the Status price quickly dropped all the way to $0.135. This downtrend was followed by another push to $0.245, and eventually resulted in another decline to below $0.16. With this current Status price of $0.211, it seems stable support may have been found, for now.
The Status price has appreciated in USD value by 9.5% in the past 24 hours. That in itself is pretty remarkable given the current climate. It seems this Status price gain is partially due to solid gains over Bitcoin and Ethereum as well. More specifically, SNT has gained 27.33% over Bitcoin and 31.33% over Ethereum. This may indicate altcoins and digital tokens will recover a lot quicker than Bitcoin or Ethereum will. It’s unclear if that is the direction we effectively heading in right now, though.
With $782.32m in 24-hour trading volume, there appears to be plenty of demand for Status right now. It is also thanks to this trading volume we see the Status price appreciate while everything else is still in the red. It’s also a relatively high trading volume compared to most top 15 coins, which are all struggling to generate any sort of volume right now. Moreover, it seems the Status buyers vastly outweigh sellers right now, but that situation can always reverse in quick succession.
Perhaps the most worrisome development is how Status is virtually exclusively traded on Upbit right now. This Korean exchange represents over 96.5% of all SNT trades, which means the rest of the world couldn’t care less about this token right now. Another small pump scheme seems to be forming in South Korea, although it remains to be seen how long it will last this time around. Most of these efforts usually run out after a day or less. It seems to be a matter of time until the Status price returns to normal and below $0.15.
For the time being, we will have to wait and see how these markets evolve. It is evident there is some solid momentum in place to keep the Status price going, but this trend will not be sustainable indefinitely whatsoever. All markets are bearish first and foremost, and there is no reason to think Status will escape this whirlpool. We can only hope all markets return to normal sooner rather than later, though.
A man out of nowhere jokes, “Look at this Bitcoin Titanic.” A few in the queue, who could make out the meaning of the pun, laughs uncontrollably while admiring a colossal cruise before them for its unmatched beauty with their iPhones out. The check-in queue moves slowly as usual, but the conversation about the Bitcoin’s … Continue reading As it happened: The World’s Biggest Bitcoin Party on a Cruise
A man out of nowhere jokes, “Look at this Bitcoin Titanic.”
A few in the queue, who could make out the meaning of the pun, laughs uncontrollably while admiring a colossal cruise before them for its unmatched beauty with their iPhones out.
The check-in queue moves slowly as usual, but the conversation about the Bitcoin’s meteoric rise keep everybody occupied. The people are meeting for the very first time, but they have read about each other. Business cards are out and being exchanged for other business cards. The crypto-community, it seems, has finally come out of their digitized pseudonymous avatars to finally interact in the real world.
It is January 15, 2018, the day when blockchain investors, developers, enthusiasts, and media professionals are about to board Royal Caribbean’s Mariner of the Seas. The 1,020-foot-long ship will be a host to the CoinsBank Blockchain Cruise Asia conference for the next four days, during which it will travel from Singapore to Thailand via Malaysia.
Day 1: The Blockchain Journey Begins on Water
The attendees are handed over the entire conference program, which mentions a long list of crypto-celebrities as speakers. They include Jose Gomez, a former assistant to the late Venezuelan President Hugo Chavez; Jorg Molt, one of the few early Bitcoin adopters who claim to hold billion dollars worth of digital currency assets; and Kaspar Korjus, the chief of Estonia’s famous e-residency program.
But the biggest takeaway is John McAfee, the celebrated cybersecurity expert and a cryptocurrency evangelist, who will be joining the rest of the Blockchain Cruise attendees in Thailand. During the conversations at the dinner table that night, people are enthusiastic about listening to McAfee’s views on emerging cryptocurrencies and their impact on businesses and on Bitcoin.
Day 2: The Day of Blockchain Governance and Penang
Savoy Theater, Deck 3: It is January 16, 2018, 0900 hours. Susan Poole, celebrated blockchain columnist and the honorable host to Blockchain Cruise Asia, starts with an enthralling opening keynote. The topic, in the meantime, remains to be blockchain and its imminent integration into government schemes.
The speakers, which include Ann Charleus, the founder of SheroRising.org; Travis Right, the co-founder of CCP Digital; Taavi Roivas, Member of Parliament, Estonia; Kaspar Korjus, managing director of Estonia’s e-Residency program; Dr. Jose Gomez, Vice-Chairman at TecnoConsult; speak on various topics ranging from entrepreneurship and e-governance to e-residency and cryptocurrency security.
But perhaps the biggest draw is government panel discussion, which lists important bureaucratic figures from all around the world. They include Taavi Roivas (Estonia), Kaspar Karjus (Estonia), Pratin Vallabhaneni (US), Tim Bird (UK), Antonio Morales (Venezuela), Jose Gomez (Venezuela) and Artem Subotin (Belarus), and Sergey Drobyshevsky (Belarus).
Watch them speak in our exclusive two-part coverage:
The conference for the day concludes. It is time to enter Malaysia and have some tourist time.
Day 3: Bitcoin Drops Huge and THAI Blockchain Conference
The Mariner of the Seas is docked a little far from Phuket, Thailand. The Blockchain Cruise Asia attendees are required to gather for an event on Paradise Beach. Everybody looks excited about stepping out from the cruise for a while. Most of them are already talking about taking a swim into the sea on a sunny day; while many of them are just hoping to meet John McAfee in person.
It is the same day when Bitcoin price has dropped towards $10,000. Attendees, however, are least nervous about such fluctuations. They look sure about their positions. Some quite discussions take place but get overcome by the excitement of an event that is lying ahead.
The crowd reaches Paradise Beach. This event is no less than a beach party. The stage is set. Songs about Bitcoin are echoing through the place. Some attendees are already inside waters. Others are enjoying sips of iced juice in a beach-bar while discussing their future cryptocurrency positions after the latest BTC drop.
The beach begins to be less of an attraction when the clock hits 1315 hours. The shacks before the stage start getting occupied. John McAfee is visible behind the stage, perhaps rehearsing his speech. His name gets announced.
Watch John McAfee’s speech from CoinsBank THAI Blockchain Conference here:
The momentum is kept alive by the following speakers. Ronnie Moas, founder, and director of research at Standpoint Research, Inc speaks passionately about Cryptocurrency Diversifications and Income Inequality. His initiative of raising funds for the poor gets lauded from everybody in the audience – and even from the backstage.
SilkRoad Equity’s Andrew J Filipowski and Forbes’ Salley Eaves also gives important keynotes on Cataclysmic Disruptors and Blockchain’s potential in business and social good, respectively.
A beautiful sunset before the main stage indicates the end of the conference for the day. Everybody gathers near the pickup spot and transports back again to the Mariner of the Seas.
Day 4: A Full-Day Discussion on Token Sale and Blockchain
January 18th, 2018 is the busiest day on the Mariner of the Seas. It is going to be a whole-day event and journey back to Singapore. The conference is taking place in two different theaters (not far away from each other). In Savoy Theater on Deck 3, Jorg Molt is speaking about Bitcoin vs FinTech’s growth in the next 5 years. While in Conference Center on Deck 2, a whole new discussion about Token Sales and Investments are going on.
The day goes on with discussions and speeches taking place concurrently. It’s all up to the attendees that which one they want to pick. If one has to compare the two auditoriums, the Conference Center on Deck 2 is literally catching more eyeballs than the Blockchain section on Savoy Theater. The shift signifies ICOs as the trendiest thing in the cryptoverse.
In the meantime, let’s not forget to mention some speakers on their brilliant insights. Tameez Abramjee, the CEO of Global Crypto Exchange, lays out a nutshell opinion about cryptocurrencies in Africa. Tone Vays, Blockchain Consultant and Researcher, and Jack Tatar, co-author of Cryptoassets, in their respective speeches, deliver powerful insights on crypto investment.
NewsBTC’s very own contributor and a long-term HODLER Jayanand Sagar also participate in a panel discussion on Media’s role in cryptocurrency sector.
Party Night
The event has concluded. As the cruise heads back to Singapore, the crypto-community is heading back to their party mood. Coinsbank has arranged a private lounge for them where they can interact further, and establish more business contacts before the journey ends. Some drink, some dance, while some just stay blockchain-zoned.
There is a lot to take away from this entire experience, something that cannot fit this article. It should be best enjoyed and relived in the next installment. Reports are that Coinsbank will soon organize another event. So to the 700 attendees, and to those who could not make it this time, there will be another announcement from Coinsbank soon.
In the end, I think to myself, ‘That was no Bitcoin Titanic. Titanic drowned.’
CNBCBitcoin price will crash to zero, Nouriel Roubini says – CNBC.comCNBCThe economist claims some people will use a market manipulation tactic known as wash trading to prop up the bitcoin price.and more »
Bitcoin Miners Face Shakeout as Only Strongest Survive at $6000 Bloomberg Bitcoin miners face a reckoning as the cryptocurrency’s tumble wipes out profits for all but the industry’s most efficient operators, according to Bloomberg New Energy Finance. Only miners with access to “very cheap” electricity of about 6 cents per …
Bitcoin Miners Face Shakeout as Only Strongest Survive at $6000 Bloomberg Bitcoin miners face a reckoning as the cryptocurrency's tumble wipes out profits for all but the industry's most efficient operators, according to Bloomberg New Energy Finance. Only miners with access to “very cheap” electricity of about 6 cents per ...
Like a true pioneer: a well-known firm launches secondary market for private and institutional investors to boost the trading of fintech assets. #SPONSORED
Like a true pioneer: a well-known firm launches secondary market for private and institutional investors to boost the trading of fintech assets. #SPONSORED
It’s almost becoming monotonous at the early start of the European session to cover a dip in the bitcoin price but, over the last few weeks, that’s all we’ve been able to do. Things keep falling and anytime we do see something of a reprieve, the markets tank almost right away. The thing is, whatever … Continue reading Bitcoin Price Watch; Here’s How To Trade This Morning’s Levels
It’s almost becoming monotonous at the early start of the European session to cover a dip in the bitcoin price but, over the last few weeks, that’s all we’ve been able to do. Things keep falling and anytime we do see something of a reprieve, the markets tank almost right away.
The thing is, whatever CNBC is saying, this market can’t fall too much further. There’s too much speculative activity ready to pull the trigger at low levels for things to continue depreciating and, once we see price turnaround (and we will, you just have to stick with it), this speculative volume should start to pile into the markets.
That’s the theory, at least.
We’ll have to wait and see if things play out that way. The key thing is not to panic sell, however.
Panic selling compounds the downside action and just drags the downwards spiral down further.
Anyway, let’s get to today’s key levels and see if we can put together a strategy that we can use for the session going forward. As ever, take a quick look at the chart below before we get started. It’s a one-minute candlestick chart and it’s got our primary range overlaid of green.
So, as the chart shows, the range that we are looking at for the session today comes in as defined by support to the downside at 6418 and resistance to the upside at 6671. We’re going to try and get in long if we see prices close above resistance and we’ll target 7000 to the upside.
Conversely, if we see price close below support, we’ll get in short towards an immediate downside target of 6200.
That’s the levels in place, let’s see how things play out and we will revisit at the close of the session this evening.
BBC NewsBitcoin falls below $6,000 – BBC NewsBBC NewsInvestor fears over tightening crypto-currency legislations could be contributing to the fall.Bitcoin dropping alongside global stock markets, discrediting theory it would be a safe havenCNBCBitcoin …
With all cryptocurrency markets still in the double-digit losses as we speak, it is all the more surprising to see Status go up in value. With a Status price of $0..211, we are looking at a solid 9.5% increase over the past 24 hours. All of this is made possible thanks to solid gains over both Bitcoin and Ethereum, as these two currencies are struggling massively right now. Status Price Bucks the Negative Trend It almost seems impossible for any cryptocurrency or digital asset to go up in value during times like these. Interestingly enough, nothing is impossible in this
