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Ripple Invests $25 Million into Blockchain Focused Fund

Ripple, one of the best know blockchain startups, announced on Wednesday plans to invest $25 million of its own XRP currency into Blockchain Capital, a firm wholly dedicated to the blockchain environment. Ripple Puts $25 Million in Fund to Develop Blockchain Startups Blockchain Capital Parallel IV, LP is the first fund to take capital in

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Chief market strategist at Ripple, Cory Johnson, told CNBC in an interview on Wednesday “There’s money sitting there to be used. We want smart people and smart entrepreneurs, who can solve a problem using XRP,”
Currently, Ripple’s technology is mostly being used to allow real-time transaction settlements for banks. The company has announced partnerships with many of the major money transfer companies in the US, including MoneyGram and Western Union.

Fund to Drive Blockchain Entrepreneurship

Johnson has compared the future of Blockchain technology to what was built off of the iPhone’s software, which has become the base for some of the most successful startups in the world.
“When I got my iPhone I did not think the killer app would be Uber, the most valuable private company in the world … I don’t know what the best use of XRP is going to be, and I hope it’s something we can’t even think of.”
Ripple is aiming at seeing that same kind of relationship happening between their established technology and entrepreneurs who can use it to build companies with funding from the Blockchain Capital fund.
Johnson concedes in the CNBC interview that if the next breakthrough startup is using XRP that it’s going to boost the company valuation. “If somebody starts the next Uber, or Instagram or Salesforce using XRP, that would be great for us,” Johnson said.
 Ripples cryptocurrency XRP which hit $3.84 in January but has dropped to around $.53 with the market correction since the beginning of the new year got a 1% bump from the announcement on Wednesday according to Coinmarketcap.com.
Image from Shutterstock

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Ripple Price Technical Analysis – XRP/USD to Soar Higher?

Key Highlights Ripple price is rising sharply and is currently trading above the $0.5200 support against the US dollar. There is a major bullish trend line forming with support at $0.5050 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may correct a few points, but it remains supported above

The post Ripple Price Technical Analysis – XRP/USD to Soar Higher? appeared first on NewsBTC.

Key Highlights

  • Ripple price is rising sharply and is currently trading above the $0.5200 support against the US dollar.
  • There is a major bullish trend line forming with support at $0.5050 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair may correct a few points, but it remains supported above near the $0.5100 level.

Ripple price is gaining upside momentum against the US Dollar and Bitcoin. XRP/USD is poised to extend gains and downsides remain supported above $0.5100.

Ripple Price Trend

There was a nice support base formed near the $0.4850 level in Ripple price against the US Dollar. The price started an upside move and succeeded in breaking the $0.5000 resistance. It opened the doors for more gains, which resulted in an hourly close above $0.5100 and the 100 hourly simple moving average. It even moved past the $0.5200 resistance and traded as high as $0.5550 recently.

A downside correction is underway from the $0.5550 high. During the last slide, the price already tested the 50% Fib retracement level of the last wave from the $0.4938 low to $0.5550 high. The decline was protected by the $0.5200 support and the price moved back in the positive zone. It is currently trading well above the $0.5300 level and it looks set for more gains. On the upside, a break above the $0.5550 high could clear the path for a push above the $0.5800 level in the near term.

Ripple Price Technical Analysis XRP USD

The next resistance above $0.5800 sits near $0.6000. On the downside, below $0.5300, there is also a major bullish trend line forming with support at $0.5050 on the hourly chart of the XRP/USD pair. As long as the pair is above $0.5100, it remains in an uptrend for more gains.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is placed nicely in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower from 70.

Major Support Level – $0.5100

Major Resistance Level – $0.5550

 

Charts courtesy – Trading View

The post Ripple Price Technical Analysis – XRP/USD to Soar Higher? appeared first on NewsBTC.

M & A watch — evaluating the ‘Virtual Merger’

The recent tidal wave of ICOs has seen billions raised but precious little so far in the way of products and services delivered. One reason for this may be that core devs are being sidetracked assembling all the components of a ‘real’ business — and lo…

The recent tidal wave of ICOs has seen billions raised but precious little so far in the way of products and services delivered. One reason for this may be that core devs are being sidetracked assembling all the components of a ‘real’ business — and losing focus on their grand vision.  One potential solution for these stalled projects, say some, is the ‘virtual merger’…

Search Giant Baidu Unveils Blockchain Stock Photo Platform

China’s search giant Baidu has launched a blockchain-based stock photo service in bid to protect image intellectual property in China.

China’s search giant Baidu has launched a blockchain-based stock photo service in bid to protect image intellectual property in China.

AirPod to Revolutionize Travel & Napping Industry, Gets Four Mainstream Industry Advisors on Board

AirPod, a blockchain startup based on the idea of installing private, capsule style units in public spaces like airports, railways and bus stations, hotels, offices and shopping centers, has acquired four industry-best advisors as it enters the main phase of the project. Taking Amar Singh, Nikolay Shkilev, Vladamir Nikitin and Nathan Christian as part of

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AirPod, a blockchain startup based on the idea of installing private, capsule style units in public spaces like airports, railways and bus stations, hotels, offices and shopping centers, has acquired four industry-best advisors as it enters the main phase of the project. Taking Amar Singh, Nikolay Shkilev, Vladamir Nikitin and Nathan Christian as part of the Advisory Board, the AirPod team is getting bigger and stronger to achieve its milestones.

About AirPod

AirPod unit is a novel idea and an ideal solution for the people who seek a spot to relax, work, sleep or spend their spare time in the public places, but in private. AirPod offers an opportunity for investors to take part in its ICO, which is backed by a real business. The APOD utility tokens will be used in the AirPods initially placed to be installed at the airports worldwide. With time, the team has projected to expand the AirPod’s distribution to other public places where people look for such product or service.

The Well-Known Names Included in the AirPod’s Advisory Board

The company has recently announced the four advisors who have joined the AirPod project and team. These include:

  1. Nathan Christian

Nathan Christian joins the AirPod team as an ICO Advisor. He is an expert for Blockchain-based accounting and financial applications. With more than 35 start-ups on his credit, he holds immense expertise in the blockchain space. Some of his existing ICO advisory projects include TraDove, Friendz, Omnitude, Moonlite, VeriMe, BitRewards, and TraXion

He is an accomplished Blockchain and Fintech international speaker and is among the Top 5 ranked members of the ‘People of Blockchain’. His core areas of expertise include Ethereum and Bitcoin Blockchains, writing Smart Contracts and launching ERC20 tokens, ICO strategy, development, venture capital investment, consulting and advising for various sectors.

  1. Vladimir Nikitin

Vladimir Nikitin has joined the AirPod team as Strategic ICO Advisor. He is the Co-founder of Top ICO Advisor, an accomplished legal consultant, ICO advisor, Blockchain cryptocurrency specialist and a member of several Board of Directors. ICOBench has listed him among Top 30 Blockchain Experts. He is associated with more than 15 successfull ICOs as an Active Advisor.

  1. Nikolay Shkilev

Nikolay Shkilev, a globally-recognized, influential ICO Advisor also joins the AirPod team. By profession, he is an entreprenuer, with many successful startups as the owner and co-owner, an ICO Advisor, a blockchain enthusiast and ICOBench expert. He is the founder and the CEO of the Private Business Club, a project for successful entrepreneurs, which also won the Award of Enterprise of the Year in Kremlin.

He is an award-winning Tech & IT entrepreneur with more than 20 years of experience working with large-scale projects belonging to Logistics, FMCG, HoReCa and other sectors. Some of the awards he won include Self-Made Russia Award, Tech Guru, and Super Top Award.

  1. Amar Singh

AirPod warmly welcomes Amar Singh as its Senior ICO Strategy advisor. He is one of the leading and contributing members of the Global Blockchain community. Having rich industry experience and being a blockchain enthusiast, he has also been advising the Global Blockchain Foundation. ICOBench has rated Amar Singh as a the Top Expert due to his profound knowldge and experience in the field. He is the part of the Advisory Board Member of a number of global blockchain projects.

Being a Technology & Digital enthusiast and having years of experience in operations, consultation and innovation in the Tech-world, Amar has worked with Tier-1 companies including Microsoft as APOC Operation Manager, the World Bank (as Senior Infrastructure Consultant & Economic Advisor), Airbus etc. His academic background includes B.E. in Computer Science and three Masters degrees from international universities, with MBA from National University of Singapore.

More information about the AirPod project and the token sale is available at – https://air-pod.io/

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JP Morgan Chase Sued Over High Crypto Purchase Charges

JP Morgan Chase & Co. finds itself in court facing a lawsuit that accuses the bank of usury stemming from a customer that used his credit cards to buy cryptocurrency from exchanges such as Coinbase. Customer Files Federal Law Suit Against Morgan Chase Fortune reports that the suit was filed on Tuesday, April 10 at

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JP Morgan Chase & Co. finds itself in court facing a lawsuit that accuses the bank of usury stemming from a customer that used his credit cards to buy cryptocurrency from exchanges such as Coinbase.

Customer Files Federal Law Suit Against Morgan Chase

Fortune reports that the suit was filed on Tuesday, April 10 at the federal courthouse in Manhattan by Brady Tucker. Tucker, a Chase credit card holder from Idaho, accuses Morgan Chase of treating his purchases of cryptocurrency as cash advances starting as far back as January without any forewarning.

Cash advances carry instant charges and higher interest rates than normal purchases. Tucker who claims that he always paid his outstanding balance to the bank before the end of the billing cycle was never the less incurring interest rates of as much as 30% plus additional fees.

Seeking class-action status for the suit that asks for the return of all fees plus a million dollars in damages Tucker was quoted as saying,

“Chase silently smacked them with instant-cash-advance fees, plus much higher interest rates than normal, and left them without any recourse,”

As previously reported by NewsBTC major credit card issuers announced earlier this year it would apply cash advance fees and interest rates to purchases of cryptocurrency.

Is Cryptocurrency Cash, Property, Securities or What?

First reported on February 8 Mastercard and Visa informed customers that in addition to the normal 4% credit card fees charged for using their cards on exchanges like Coinbase there would be an additional 5% cash advance charge plus interest rates that begin at the time of purchase, not at the end of a billing cycle like a normal point of sales transaction.

This equals nearly a 10% hit right off the top of any cryptocurrency purchase made plus interest that can go as high as 30% as is the case in Mr. Tucker’s suit.

Not many traders are willing to take a 10% loss off the top but for the moment there aren’t that many alternatives for purchasing cryptocurrencies.

Brady Tucker’s lawsuit reignites the question of how cryptocurrencies are to be classified. The IRS has maintained that Bitcoin and it’s ilk are taxable property not currency. While the various US regulatory bodies are still trying to establish how to deal with digital assets.

The SEC, for instance, has been clear that they would like to see cryptocurrencies treated as securities, putting them in the same category as stocks and bonds and therefore subject to the same regulatory framework.

Representatives of JP Morgan Chase have refused to comment on the impending lawsuit.

 

Image from Shutterstock

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Ethereum Price Technical Analysis – ETH/USD’s Upside Drift

Key Highlights ETH price started a nice upside move and traded above the last swing high of $433.77 against the US Dollar. There is a new major ascending channel forming with support at $428 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to accelerate higher and it could trade

The post Ethereum Price Technical Analysis – ETH/USD’s Upside Drift appeared first on NewsBTC.

Key Highlights

  • ETH price started a nice upside move and traded above the last swing high of $433.77 against the US Dollar.
  • There is a new major ascending channel forming with support at $428 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to accelerate higher and it could trade towards the $444 and $460 levels.

Ethereum price is gaining pace against the US Dollar and Bitcoin. ETH/USD is currently above $433 and eyes a break above the $444 resistance level.

Ethereum Price Rise

There was a solid upside move initiated from the $386 swing low in ETH price against the US Dollar. The price traded higher and broke a few important resistances such as $400 and $410. There was also a close above the $415 level and the 100 hourly simple moving average. Recently, the price succeeded in clearing the 76.4% Fib retracement level of the last decline from the $433 high to $386 low.

More importantly, the price broke the last swing high of $433.77, which has opened the doors for more gains. The next resistance on the upside could be near $444-445. The mentioned $444 is the 1.236 Fib extension of the last decline from the $433 high to $386 low. Overall, the price remains in an uptrend and it could even break the $445 level for more gains. On the downside, there are many supports above the $425 level. There is also a new major ascending channel forming with support at $428 on the hourly chart of ETH/USD.

Ethereum Price Technical Analysis ETH USD

If the pair starts a downside correction, it could find support near $428-430. Below $428, the price may test the $408 level and the 100 hourly SMA. However, the short-term trend is bullish and the price may soon break $444.

Hourly MACD – The MACD is gaining pace in the bullish zone.

Hourly RSI – The RSI is now reaching the overbought levels.

Major Support Level – $428

Major Resistance Level – $444

 

Charts courtesy – Trading View

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Bitcoin Price Technical Analysis for 04/12/2018 – Slow But Steady Climb

Bitcoin Price Key Highlights Bitcoin price is still trending inside an ascending channel pattern and has bounced off support. Price is approaching another potential resistance level at its symmetrical triangle pattern. A move past this ceiling could lead to a sharper climb for bitcoin to the mid-channel area of interest or the very top. Bitcoin

The post Bitcoin Price Technical Analysis for 04/12/2018 – Slow But Steady Climb appeared first on NewsBTC.

Bitcoin Price Key Highlights

  • Bitcoin price is still trending inside an ascending channel pattern and has bounced off support.
  • Price is approaching another potential resistance level at its symmetrical triangle pattern.
  • A move past this ceiling could lead to a sharper climb for bitcoin to the mid-channel area of interest or the very top.

Bitcoin price is regaining ground after testing the rising channel support but has several upside barriers to contend with.

Technical Indicators Signals

The 100 SMA is crossing above the longer-term 200 SMA to signal that the path of least resistance is to the upside. In other words, the rally is more likely to continue than to reverse. Price has also moved above these dynamic inflection points as an early indication of strengthening bullish momentum.

However, bitcoin price needs to clear the next roadblock at the $7000 major psychological level, which happens to be the top of its symmetrical triangle before continuing its move north. From there price could test the mid-channel area of interest around $7250 before making it to the top of the channel around $7600-7700.

Note that the triangle spans $6500 to $7800 so the resulting rally could be of the same height. Similarly, a break below support at $6800 could lead to a selloff of the same size.

Stochastic is pointing up to signal that buyers still have some energy left in them. RSI is also moving higher so bitcoin price might follow suit. Both oscillators are approaching overbought levels, though, so buying pressure could fade soon.

Bitcoin price appears to be drawing some support from geopolitical risks while traders remain hesitant to put money on the dollar or on higher-yielding assets. This phenomenon has been observed before, right around the time the Greek debt crisis was still in play.

Besides, traders are expected to flock back to the dollar once the tax deadline is over as this was seen as the primary reason for the cryptocurrency’s slide earlier in the week. Keep in mind that big hedge funds have their eye on cryptocurrencies, so an influx of funds and liquidity could be a big boost for bitcoin price.

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How Hong Kong Bitcoin Traders Defend Against Scams – Forbes

ForbesHow Hong Kong Bitcoin Traders Defend Against ScamsForbesIn one of the most perfidious schemes to hit Hong Kong traders in the past years, OTC traders were used to exchange income from other scams into bitcoin, which can more easily be transferred…


Forbes

How Hong Kong Bitcoin Traders Defend Against Scams
Forbes
In one of the most perfidious schemes to hit Hong Kong traders in the past years, OTC traders were used to exchange income from other scams into bitcoin, which can more easily be transferred overseas without being seized. Those moving illicit money ...

Asian Cryptocurrency Trading Roundup: Top is Altcoin EOS

FOMO Moments Markets have been bullish for the past 24 hours however this pattern is similar to what we have witnessed in previous weeks so the bears may not be out of the woods yet. Bitcoin has struggled to gain momentum but has inched slowly back towards $7,000 – it currently trades just under at

The post Asian Cryptocurrency Trading Roundup: Top is Altcoin EOS appeared first on NewsBTC.

FOMO Moments

Markets have been bullish for the past 24 hours however this pattern is similar to what we have witnessed in previous weeks so the bears may not be out of the woods yet. Bitcoin has struggled to gain momentum but has inched slowly back towards $7,000 – it currently trades just under at $6,950, up 1.7% on the day. Altcoins are predominantly in the green during this morning’s Asian trading session but one seems to be on fire at the moment and that coin is EOS.

EOS has surged 45% according to Coinmarketcap and has supplanted Litecoin for fifth place in the charts. Trading this time yesterday at around $6, this altcoin is up to $8.80 today. Over the week EOS has been pretty flat ranging around the $5.80 mark, that is until it started to pump around 20 hours ago. The monthly picture shows a similar gain of around 45% as EOS has been trading around the $6 area for the past four weeks. This latest spike is responsible for all of its gains. Against Bitcoin EOS is up 45% on the day to 127000 satoshis from 87800 sats this time yesterday. Monthly gains against BTC are a lot higher as EOS has doubled from 63000 satoshis this time last month.

There have been no updates on its Twitter feed to cause such a spike but there have been rumors circulating regarding an airdrop which may have created the fomo moment. The bullish sentiment has originated on Asian exchanges with trade in KRW dominating this morning on South Korea’s Bithumb and Upbit. These two exchanges alone represent 45% of the total volume, Bitfinex coming in third with 14%.

The total trade volume for EOS has jumped a staggering 860% from $228 million to $2.2 billion in 24 hours. This has pushed the total market capitalization for EOS to just under $7 billion, which has knocked Litecoin off fifth spot in the charts. It remains to be seen whether this strong upward momentum can be sustained or the altcoin will fall back to previous levels during the European and US trading sessions.

Total crypto market cap has risen again this morning by 4.8% to $277 billion. However this level is only just above the previous big dip on March 18 so the bear run may not be over yet. Other altcoins enjoying double digit growth this morning on Asian markets include Ripple, Cardano and Neo.

More on EOS can be found here: https://eos.io/

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.

The post Asian Cryptocurrency Trading Roundup: Top is Altcoin EOS appeared first on NewsBTC.

Bitcoin Cash Price Technical Analysis – BCH/USD Could Test $700

Key Points Bitcoin cash price is moving higher and is currently placed above $650 against the US Dollar. Yesterday’s highlighted connecting bullish trend line with support at $650 is intact on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is showing bullish signs and it seems like it could break

The post Bitcoin Cash Price Technical Analysis – BCH/USD Could Test $700 appeared first on NewsBTC.

Key Points

  • Bitcoin cash price is moving higher and is currently placed above $650 against the US Dollar.
  • Yesterday’s highlighted connecting bullish trend line with support at $650 is intact on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair is showing bullish signs and it seems like it could break $680 to test the $700 handle.

Bitcoin cash price is gaining pace against the US Dollar. BCH/USD is likely to accelerate higher as long as it is above the $650 support level.

Bitcoin Cash Price Support

There was a decent start of an upside wave from the $625 swing low in bitcoin cash price against the US Dollar. The price traded above the $640 and $650 resistance levels to move back in a positive zone. More importantly, the price is now well above the $640 pivot level and the 100 hourly simple moving average. It recently traded as high as $676 before a minor downside correction.

It tested the 23.6% Fib retracement level of the last wave from the $625 low to $676 high. However, the downside was limited and it seems like the price is about to resume its uptrend. A break above the $676 high could push the price towards the last swing high at $685. Above the mentioned $685 level, the price may even test the $700 resistance in the near term. On the other hand, if there is a downside correction, the $650 support may stop losses.

Bitcoin Cash Price Technical Analysis BCH USD

Moreover, yesterday’s highlighted connecting bullish trend line with support at $650 is intact on the hourly chart of the BCH/USD pair. Therefore, the pair remains supported on the downside above the $650 level and it could continue to move higher towards $700.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is moving nicely in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently near the overbought levels.

Major Support Level – $650

Major Resistance Level – $685

 

Charts courtesy – Trading View

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Bitcoin Price Watch: Currency Jumps to $6,900

Bitcoin is currently trading for just over $6,900. After a 24-hour period of hovering at $6,800, the price has seemingly increased by roughly $100. Last week, the price of bitcoin seemed to fall by $100 a day. This week, the opposite is true. We first saw bitcoin standing at the $6,700 mark on Monday following a weekend high of $7,000. It has since risen to $6,800 on Tuesday, and now $6,900 on Wednesday. Given its present route, one can’t help but hope the price will once again reach $7,000 tomorrow and show enthusiasts that the weekend rally, though small, wasn’t

Bitcoin is currently trading for just over $6,900. After a 24-hour period of hovering at $6,800, the price has seemingly increased by roughly $100.

Last week, the price of bitcoin seemed to fall by $100 a day. This week, the opposite is true. We first saw bitcoin standing at the $6,700 mark on Monday following a weekend high of $7,000. It has since risen to $6,800 on Tuesday, and now $6,900 on Wednesday. Given its present route, one can’t help but hope the price will once again reach $7,000 tomorrow and show enthusiasts that the weekend rally, though small, wasn’t a fluke.

Of course, we won’t be able to comment on that for another 12 hours, but many analysts claim that the future of bitcoin is looking bright. We’ve presently entered the second quarter of 2018; the first was marred by massive slumps and price drops galore. As we enter the second “phase” of the year, many sources say that in the past, bitcoin’s price has shown massive improvement during this period.

But if one were to look deeper, it could be said that 2018 has, thus far, shown repeats of bitcoin’s behavior in 2015. Prior to the start of that year, bitcoin had reached relatively solid ground following the Mt. Gox debacle in 2014, and was trading in the $400 – $500 range. While this was significantly less than the $1,000+ it had reached in the final months of 2013, the range was still good news for most traders.

Sadly, things took a nasty turn the following January, when the price fell below $200. Naturally, many investors weren’t happy with the news, and several were left to question whether bitcoin – or even cryptocurrency as a whole – was dead before it really had the chance to take hold of the global financial scene.

However, things began to change in November. Bitcoin suddenly spiked to $300, then $400, and rises continued into 2016. That year ended with bitcoin landing near $1,000 – a spot it hadn’t enjoyed in roughly two years, and the price explosions that are now synonymous with bitcoin occurred soon after.

We are now seeing similar behavior in bitcoin’s price patterns. A drastic crash occurred near the beginning of the year, causing the currency to drop by over half its value in just a few short weeks. We are seeing a few steady rises here and there – just like we did in 2015 – but nothing terribly noticeable has occurred just yet… $100 here, $400 there, etc. Bitcoin is no doubt struggling to keep its status, but it continues to show signs of life.

Granted these patterns continue, it’s likely we’ll witness a 2018 end similar with that of 2015. Bitcoin may reach new highs, bringing players and traders alike back to the boards for further viewing. The hype that consumed bitcoin media outlets in 2017 could again become commonplace, and the currency’s popularity may reach previous levels once again.

Many analysts debate whether bitcoin could reach solid numbers by this coming summer. Given the coin’s current maneuvers, summer seems a bit early at this stage, but the end of the year could ultimately give advocates the price they seek – just like in 2015.