Day: April 18, 2018

Ethereum price has been recovering during the past couple of weeks after a bullish wave that had been controlling the market since the latter half of February. However, the market has been moving sideways during most of Tuesday’s trading sessions. A day high of $523.80 was recorded on Tuesday, before dropping down to a day low of $501.50. Earlier today (Wednesday), Ethereum price began to rise again along the upwards trend line that has been apparent on the ETHUSD charts since April 10th, as we will see later. The ETHUSD is about to test an important resistance level around $545.17 during the next 24-48 hours.

How can we expect Ethereum price to behave during the upcoming 24 hours?

New upwards trend line apparent on the 1 day ETHUSD chart:

We will examine the 1 day ETHUSD chart from Bitfinex, while plotting the 50 period SMA, the Williams Alligator’s SMAs, and the MACD indicator, as shown on the below chart. We can note the following:

•  To mark basic resistance and support levels that will help us during our upcoming analyses, we will extend Fibonacci retracements that span from the low recorded on October 23rd, 2017 ($273.50), and the high recorded on January 13th, 2018 ($1,424.06). As shown on the above chart, we can note that ethereum price is heading towards a crucial resistance level around $545.17, which corresponds to the 76.4% Fibonacci retracement.

 

• A new upwards trend line is now apparent on the chart (the blue trend line on the above chart) and proves that the bearish wave that was evident since the latter half of February, has been successfully reversed. A “bullish engulfing” candlestick pattern was completed on April 8th, and marked the beginning of a new bullish wave.

 

• The Williams Alligator’s SMAs are realigning to exhibit a bullish signal, which confirms that the bullish wave is getting stronger. Now, the green SMA (lips) is on top, and the blue SMA (jaw) is on the bottom. The red SMA (teeth) is moving to lie between the lips and the jaw, which completes the bullish alignment. When this alignment is completed, we can say that the alligator’s mouth is “open and eating” in the bullish direction. As such, we can expect ethereum price to break through the resistance around the 76.4% Fib. retracement ($545.17) during the next 24-48 hours.

 

• Even though the value of the MACD is still in the negative territory, it exhibits a bullish alignment, as the blue MACD line has crossed above the red signal line. The MACD is sloping in an upwards direction which boosts the significance of the bullish signal conveyed via the MACD.

 

Three “bullish engulfing” candlestick patterns apparent on the 4 hour ETHUSD chart:

Now, let’s examine the 4 hour ETHUSD chart from Bitfinex, while plotting the Williams Alligator’s SMA and the Ichimoku Cloud, as shown on the below chart. We can note the following:

• An upwards trend line (bluish trend line on the above chart) is evident on the chart and confirms the current bullish sentiment of the market.

 

• Three bullish engulfing candlestick patterns have been formed since April 6th. These patterns represent evidence that March’s bearish wave has been broken down and that a new bullish wave is controlling the market.

 

• The Williams Alligator’s SMAs are exhibiting a strong bullish alignment. The alligator’s mouth is “open and eating” in the bullish direction. As such, we can expect Ethereum price to rise towards the resistance around $545.17 during the next 24-48 hours.

 

• The Ichimoku Cloud has turned green (bullish). Ethereum price has climbed above the cloud, and the candlesticks have moved above the Base Line (red line). Furthermore, the Conversion Line (blue line) has crossed above the Base Line (red line). All these four signals are strong bullish signs conveyed via the Ichimoku Cloud.

Conclusion:

Ethereum price has been somehow moving sideways during the past 24 hours after a week of powerful bullish market movement. Our technical analysis predicts that ethereum price will most probably rise to test the resistance around $545.17 during the next 24-48 hours.

 

Charts from Bitfinex, hosted on Tradingview.com

 

 

This article originally appeared on Bitcoin Magazine.

This article originally appeared on Bitcoin Magazine.

Pantera Capital CEO Dan Morehead has stated that Bitcoin’ss sideways action at USD 8,000 is about to end, with the company today signalling a perfect time to get in for the long.

Morehead’s company is well known for its exclusive focus on digital currencies and blockchain technology. Its rational analysis is based on Bitcoin’s 200-day moving average, believing that it had crossed below that threshold today.

“Bitcoin just hit that rare buy signal again”, said Morehead. He added:

“On the surface, it seems as though the higher the 200-day moving average goes, the more bullish the market is (and the lower it goes, the more bearish). In practice, however, the reverse is true. Extremely high readings are a warning that the market may soon reverse to the downside. High readings reveal that traders are far too optimistic. When this occurs, fresh new buyers are often few and far between. Meanwhile, shallow readings signify the reverse; the bears are in the ascendancy, and a bottom is near. The shorter the moving average, the sooner you’ll see a change in the market.”

#Bitcoin Price Cycles

After a 1067-day bull market, a downdraft which is spot on previous bear markets in depth, retracement.

My old friends in the hedge fund space would love the Fibonacci 0.618 bounce.

If I were a betting man, I'd say we've seen the lows of this cycle. pic.twitter.com/KIO80OFJtk

— Dan Morehead (@dan_pantera) February 7, 2018

Pantera has only made four trade recommendations in seven years, most of which have been based on the 200-day moving average. It holds an impressive portfolio of the top three coins by market capitalization, along with other alternative coins such as ZCash, ShapeShift and Civic.

 

The post Pantera CEO Dan Morehead Calls Rare Bitcoin Buy Signal appeared first on BitcoinNews.com.

Bitcoin Press Release: As Hada DBank prepares for its May 1st tokensale it has inked a strategic partnership with Eclii Ventures, as it looks to add to its board of advisors.

April 12th, 2018, Kuala Lumpur, Malaysia – Eclii Ventures I LLC, based in the US, is a global venture capital and consulting firm specializing in ICOs, blockchain, securities and cryptocurrency. Having dealt and worked with various international organizations, the firm currently manages and advising several ICOs projects worldwide. It also recently acquired Qudos Technologies Inc.in its move to lead in the current technology entrepreneurship industry.

On becoming involved with HADA DBank, Richard Gora, Managing Director of Eclii Ventures, stated;

“We immersed ourselves in HADA DBank’s vision to revolutionize the outdated, global banking system. HADA DBank’s internationally renowned leadership has envisaged the next-generation solutions to daily transactions from POS to debit cards and e-wallets – all from your mobile device”

Mr. Gora has advised on over 15 ICOs in the past couple months. A practicing securities attorney, he has worked on billion-dollar deals, including having represented a consortium in Uber’s $40B Series E financing. He sits on the board of directors of Eclii Ventures’ portfolio companies and is dedicated to growing the next generation of blockchain solutions.

About Hada DBank

Set to revolutionize the world of banking, Hada DBank determines to fuse blockchain technology with Islamic Banking Module. Having recognized the challenges for customers in the current banking state, blockchain technology will ensure security and transparency, while Islamic Banking module will ensure ethical banking and investment.

Hada DBank believes in benefiting and putting clients interests first, rather than profiting without limit and ethics. Caring & Personal are be the two words that will be embedded in every aspect of Hada DBank’s corporate culture, product, and services. Hada DBank’s Pre-ICO is currently live, with an ongoing flash sale for the 1st one million tokens going up for sale at 1ETH = 4,000 HADACoin.

Learn more on the Hada DBank website – https://www.hada-dbank.com/
Read the Hada DBank Whitepaper –https://drive.google.com/file/d/16nbPwXqjXRRmVKstu1dn4NobywANASkH/view
Chat with the Hada DBank team on Telegram – https://t.me/HADADBank
Follow Hada DBank on Twitter – https://twitter.com/HadaDBank
Follow Hada DBank on Facebook – https://www.facebook.com/hadadbank.official/
Discuss with Hada DBank on bitcointalk – https://bitcointalk.org/index.php?topic=2607739.0
Check out Hada DBank on Instagram – https://www.instagram.com/hadadbank/
Learn more about Hada DBank on Medium – https://medium.com/@hadadbank
Visit the DE Asset Management Limited Website here – https://deasset.ca/

Media Contact

Contact Name: Linda A
Email: [email protected]
Location: Kuala Lumpur, Malaysia
Company: Hada DBank

Hada DBank is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high risk tolerance. Only participate in a token event with what you can afford to lose.This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and blockchain tech start-ups for over 5 years. Get your own professional Bitcoin Press Release. Click here for more information about Bitcoin PR

The post PR: Hada DBank Welcomes Additional Strategic Partnership and Expert Eclii Ventures to Its Advisory Board appeared first on BitcoinNews.com.

Peer-to-peer economy platform Origin raised more than $28 million through a Simple Agreement for Future Tokens sale this year, filings reveal.

Bitcoin mining is increasingly becoming an activity for big business as the complex calculations needed to generate the virtual currency require industrial-scale capabilities. As the mining industry matures, the expected consolidation is likely to oust ‘regular folks’ that use their personal computers.

Large Cryptocurrency Miners Are Taking Over the Game

Bill Tai, the chairman of Hut 8 Mining Corp., the North American arm for crypto-mining equipment provider Bitfury Group Ltd., expects only five to 10 of the largest miners to survive and be profitable.

“It’s totally different this year than last year. The bitcoin mining industry was this mysterious dark cottage industry, and it’s about to grow up and about to have elements of institutional scalability at all levels”, Bill Tai told Bloomberg.

Lucas Nuzzi, a senior analyst at Digital Asset Research, says that selling bitcoins to defray operating expenses may depress the price of the digital currency, taking in account that miners hold between 20 percent and 30 percent of all Bitcoins. The concentration of mining power could launch the market into a new era, where a few players would have enough control to dictate the development of the blockchain ecosystem.

“It has the potential of being dangerous from a security standpoint since a single entity could use its power in terms of hashrate to disrupt the network,” Lucas Nuzzi commented.

Smaller miners buy their chips and machines from manufacturers. while industry-scale miners design and make their own hardware. Economies of scale allow them to place orders in bulk, buy electricity at a discount, and be profitable even with Bitcoin at $8,000.

“We can buy and source orders of magnitude more. We can buy silicon in large quantities and commit to the electricity grid in chunk sizes. We have the cash to make the deposits and set them up”, Tai added.

Smaller buyers are also facing a shortage of PC components to enhance their mining ‘rigs’. Increased demand, especially since 2017, wasn’t met with a proportionate response from manufacturers, which led to prices skyrocketing.

The concentration of mining power in the hands of a small number of corporate entities is frowned upon by most people within the ecosystem as it contradicts the very nature of a decentralized network that does not need to rely on users trusting large corporations. The so-called 51% attack – a monopoly/oligopoly of the network’s hash rate with the power to effectively steal money from other users – remains a distant ‘worst case scenario’, but not as distant as before.

Image from Shutterstock.

The post Consolidation in Cryptocurrency Mining Industry to Pressure the Price of Bitcoin appeared first on NewsBTC.

Truth be told, it was only a matter of time until someone created a video game about cryptocurrencies. Rather than making players collect coins, this game revolves around price charts. Known as Crypto Rider, the game will certainly let players enjoy the roller coaster emotions which Bitcoin holders experience on a virtually daily basis.

Crypto Rider is a Wild Ride

While we can only commend people for creating a gaming experience themed around cryptocurrency prices, this is not necessarily a lucrative market for game developers. That hasn’t kept Bitcoin enthusiasts from developing Crypto Rider, which is a pretty interesting creation. As the name somewhat suggests, people get to enjoy the wild ride that is cryptocurrency price volatility.

In the game, players can “ride” the Bitcoin price charts. Anyone who has ever looked at such a chart will know it contains a lot of ups and downs, which makes it look and feel like a roller coaster. No one will deny that watching the Bitcoin price can lead to ecstatic highs and gut-wrenching dips, just like sitting on an actual roller coaster.

Visually, the game doesn’t look like it will win any prizes, but it certainly checks all of the right boxes in most other areas. Transforming the concept of cryptocurrencies into an actual video game is not easy by any means, but Crypto Rider certainly scratches an itch. It is something which Bitcoin enthusiasts will enjoy, as well as those people who genuinely dislike cryptocurrency and everything it stands for.

As one would expect from a game such as Crypto Rider, it features all kinds of cryptocurrencies. These include NEO, Ethereum, Dogecoin, Shitcoin, and so forth. Every single currency has its own “track”, which further shows that the developers have put in a fair bit of effort. It is one of the very few games which actually makes a lot of sense to people who are both familiar and unfamiliar with cryptocurrency.

On the controls front, there isn’t much to play around with. Nor should there be, really, as Crypto Rider is all about acceleration and enjoying the wild track’s bumps. It is a mobile game that plenty of people will check out, mainly because it offers something so unique that it will automatically find its niche. It is not something to be taken seriously by any means, but that doesn’t have to be a bad thing.

How this game will affect the public perception of cryptocurrency remains to be seen. This is still one of the most exciting industries out there, but it is also met with a fair bit of skepticism, disbelief, and naysayers. Crypto Rider won’t necessarily change any of that in the future, but it certainly offers a fresh look on things. Plus, it is quite fun to play, which is always a win in our book.

A German startup that raised around $50 mln in an ICO has thrown the Internet into confusion after its website became just a giant South Park meme saying “Aannd it’s gone” #NEWS

An exchange that left New York in 2015 has been contacted by the state’s Attorney General. They’re not happy about it.

In the wake of the Pincoin/iFan ICO scams in Vietnam, we take a look at the five biggest cryptocurrency scams to date. #PANORAMA

A new cryptocurrency start-up has received $133 million in private investments. Intangible Labs will use the money to develop “basis”, a stable coin that will be built on the Ethereum blockchain.

Basis: A Coin With a Variable Supply

Intangible Labs is the brainchild of three Princeton University graduates. The company has already received investment from some rather exciting groups. Amongst them are Bain Capital Ventures, venture capital firm Andreessen Horowitz, Lightspeed Foundation Capital, and Google’s venture department GV. Individual contributors include billionaire Stan Druckenmiller, and former Federal Reserve Governor Kevin Warsh. The total raised so far is over $133 million.

The co-founder and CEO of Intangible Labs, Nader Al-Naji, spoke to Reuters about the decision to build a stable coin earlier today:

“Volatility of cryptocurrencies has prevented their widespread adoption… We are trying to build cryptocurrencies that have all the benefits of crypto but is stable.”

Basis will be built atop the Ethereum blockchain as an ERC20 token. The idea behind it is that it will hold its price by expanding and contracting its total supply according to varying demand for the token. This will, in theory, keep the price consistent at all times.

Al-Naji first spoke to Reuters about Intangible Labs’ idea for basis back in October of 2017. He told the publication that the inspiration had come to him whilst penning a post for his personal blog, Nader Theory, in June. During the post, the Princeton graduate discussed the idea of having a coin that could increase and decrease its supply according to demand. This formed the idea behind basecoin – later re-branded as basis.

So far, all the funding received by Intangible Labs has been raised through private investors and venture capital groups. The company are still undecided as to whether they will hold a public sale for basis. According to Al-Naji, the current regulatory environment surrounding ICOs might mean holding one is detrimental to the startup. The decision will be made after due assessment has been done of current and pending regulations governing the space.

Recently, there has been concern raised by various regulatory bodies over the funding method that shot to fame in 2017. With more regulators around the world considering implementing rules and guidelines, many ICOs have been put on hold until their founders are sure that their sales will be conducted legally. The SEC in the US has already started policing the space with several ICOs coming under fire from the regulatory body. One of the most recent examples was the Floyd Mayweather-endorsed Centra Tech, the founders of which were charged with fraud for selling an unregistered security.

Image from Shutterstock.

The post Proposed Stable Coin Built on Ethereum Receives $133 Million in Private Investments appeared first on NewsBTC.

Cybercriminals often target known and unknown exploits found in operating systems and web architectures. Evidently, someone took advantage of a recent Drupal exploit to mine cryptocurrencies in an illegal manner. Although the exploit was patched in late March, there are still some concerns over how exactly this exploit was leveraged.

A Drupal Exploit Enabled Crypto Mining

As is the case with any security exploit, the people responsible for maintaining the project’s code will try to address this issue as soon as possible. In a lot of cases, that is much easier said than done, as there are many potential repercussions to keep in mind. For the Drupal developers, addressing the most recently discovered critical exploit has been a painstaking process.

The exploit itself allows hackers to leverage remote code execution against the Drupal content management system. While a patch was issued on March 28 to address this problem, it is still up to website owners to manually install this new patch and fix the problem. It is also not the first time we’ve seen such issues affect the Drupal CMS, as a similar problem was detected in late 2014.

In an April 13 post, the Drupal team confirmed that automated attacks attempting to compromise Drupal 7 and 8 websites were taking place. This is the direct result of the patched vulnerability and the failure of site owners to install said patch. Any site not patched as of April 11 may still be vulnerable to this exploit, although it remains unclear how many sites this was affecting at the time of writing.

What makes this particular exploit so worrisome is that someone successfully leveraged this weakness to begin mining cryptocurrencies through Drupal sites. More specifically, an HTTP POST request can be made against such sites to download files and execute their contents accordingly. The number of payloads being distributed through this attack has grown to worrisome levels as well.

It seems most of the attacks have involved installing backdoors to existing systems and executing cryptocurrency miners. As one has come to expect when talking about malicious cryptocurrency use, there is a link to Monero mining. More specifically, it seems the cryptocurrency miner in question is XMRig, which has made quite a name for itself in the past few months.

Whether or not we will see more of these malicious mining attacks involving servers running Drupal remains to be determined. It is certainly possible that the worst is yet to come, as site and server owners are notoriously slow when it comes to updating their systems. Even though this Drupal exploit is well known by now, the public exploit code is currently circulating on the internet.

Chinese police have arrested 4 men in the city Xi’an for an allegedly fraudulent $13 mln crypto pyramid-scheme #NEWS

Cannabis social networking company MassRoots is developing a crypto rewards token and other blockchain applications.