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EOS Price Remains Above $11.5 Despite Looming Market dip

eos logoIt is the first time in several days we see small bearish momentum forming in the cryptocurrency markets. Most coins in the top 10 are dealing with small to medium losses over the past 24 hours, which is only to be expected. The EOS price is still going strong as we speak, although this altcoin will not escape the volatility either. EOS Price Remains Above $11.5 Given all of the positive momentum we have seen throughout the cryptocurrency markets in the past week, it is only normal a brief dip looms overhead. These past seven days have been pretty bullish

eos logo

It is the first time in several days we see small bearish momentum forming in the cryptocurrency markets. Most coins in the top 10 are dealing with small to medium losses over the past 24 hours, which is only to be expected. The EOS price is still going strong as we speak, although this altcoin will not escape the volatility either.

EOS Price Remains Above $11.5

Given all of the positive momentum we have seen throughout the cryptocurrency markets in the past week, it is only normal a brief dip looms overhead. These past seven days have been pretty bullish for all cryptocurrencies, even though it is possible today’s brief dip will be bought up pretty quickly in the next few hours.

For the EOS price, the past week has been pretty solid overall. With the EOS price dropping below $8 briefly earlier this week, it seemed as if we would witness a fair amount of volatility in the wrong direction. However, things turned out alright in the end as the value quickly soared to nearly $12. Over the past 24 hours, there was another 4.18% increase for the EOS price, which should not be overlooked whatsoever.

It is also interesting to see how the EOS price is rising thanks to gains over Bitcoin and Ethereum. More specifically, EOS gained 4.28% over Bitcoin and 4.45% over Ethereum. All of these gains are pretty small compared to what we saw earlier this week, but things are definitely heading in the right direction once again.

With $1.154bn in 24-hour trading volume, the demand for EOS is certainly on the rise as we speak. It is evident all cryptocurrencies see an influx of new money all week long, as the global cryptocurrency trading volume has risen to over $22.6bn again. A healthy increase compared to the $10bn we saw not that long ago.

Trading EOS is mainly done on the OKEx, Huobi, and Bithumb exchanges as of right now. All of these trading platforms generate nearly equal trading volumes for EOS, which is rather impressive. There are three fiat currency pairs in the top five for EOS, which confirms we may see more new capital flow to this altcoin in the future.

How all of this will play out for the EOS price, remains anybody’s guess. With most other major markets showing a small dip right now, it seems normal this will affect the EOS price at some point in the future. Even so, the EOS price has successfully maintained its position above $11.5 despite the current volatility. If no dip occurs for EOS, reaching $12 later today shouldn’t be much of a problem.

Owning Your Own 0% House Edge Casino Is as Easy as 1-2-3

Whoever said that it’s hard to own and run an online casino has never heard of ZeroEdge before, the all-new way to gamble online. ZeroEdge is taking everything that you know about online gambling and turning it on its head and the best part is that you can be part of the online gambling revolution,

The post Owning Your Own 0% House Edge Casino Is as Easy as 1-2-3 appeared first on NewsBTC.

Whoever said that it’s hard to own and run an online casino has never heard of ZeroEdge before, the all-new way to gamble online. ZeroEdge is taking everything that you know about online gambling and turning it on its head and the best part is that you can be part of the online gambling revolution, right now!

However, before we get into how easy it really is to own your own online casino through ZeroEdge, let’s first get some insight into the current state of the online casino industry, and why it is in steady decline.

How Conventional Online Casinos Work

The so-called conventional online casino industry works on a standard model and, regardless of how sophisticated or modern they may appear to be, they all work on exactly the same principle – the house edge.

If you’ve never heard of the house edge before, let’s break it down for you here. The house edge, also known as the house advantage, is a built-in edge that the casino has over the player in every single online casino game. This includes slots, video poker, roulette, blackjack, baccarat, poker, bingo, and any other casino game that is available at a conventional online casino. This also applies to live dealer casino games. The house edge is expressed as a percentage and can range from 2.0% up to 14% or more. The percentage essentially represents the mathematical advantage that the casino has over the player in any game, in other words, how much the game is skewed in favor of the house.

If you were thinking that this sounds pretty unfair you would be right. The fact that the casino will always win more than you gave rise to the old saying “the house always wins”, which is absolutely true 100% of the time – eventually.

zerocoin, zeroedge

How ZeroEdge is changing the Industry

ZeroEdge is the first online gambling brand in the world to offer games with a true 0% house edge, something that is causing a lot of waves within the industry. Online gamblers can now sign up with ZeroEdge to experience online casino gambling with no built-in advantage for the house. The idea is catching on and you can be part of it by owning your own 0% house edge online casino as part of the greater ZeroEdge network.

ZeroEdge is a white label online gambling platform which means that you can take advantage of the ZeroEdge infrastructure and open your own branded online casino under their domain. This gives you the fastest and the easiest way to own your own online casino and it’s as easy as 1-2-3. Here’s how:

  1. Visit the ZeroEdge website online
  2. Fill in the ZeroEdge online casino application form
  3. Invest in Zerocoin

Unlike conventional online casinos, ZeroEdge does not run on terrestrial currencies such as USD or EUR. Instead, ZeroEdge has created their own cryptocurrency called Zerocoin, and it’s the only way that gamblers can play ZeroEdge casino games. The beauty of this system is that, as ZeroEdge gaming becomes more popular, so the value of Zerocoin grows. This gives you more than one way to make a profit with ZeroEdge online gambling.

The post Owning Your Own 0% House Edge Casino Is as Easy as 1-2-3 appeared first on NewsBTC.

Russian Supreme Court Forces Local Court to Review Bitcoin Website Blockade

Bitcoin and Russia have been at odds for quite some time now. The Eurasian nation has made its dislike for Bitcoin rather apparent. This culminated in a lot of Bitcoin-related websites being blocked by ISPs. The Supreme Court of Russia now forces the St. Petersburg City Court to review the appeal against this blockade. Russian

The post Russian Supreme Court Forces Local Court to Review Bitcoin Website Blockade appeared first on NewsBTC.

Bitcoin and Russia have been at odds for quite some time now. The Eurasian nation has made its dislike for Bitcoin rather apparent. This culminated in a lot of Bitcoin-related websites being blocked by ISPs. The Supreme Court of Russia now forces the St. Petersburg City Court to review the appeal against this blockade.

Russian Supreme Court Blocks Bitcoin Content

Several years ago, the Bitcoin situation in Russia took a turn for the worse. As the government was already opposed to cryptocurrency, a new course of action was taken. The Vyborgsky District Court of St. Petersburg blocked at least one Bitcoin-related website. In this case, it pertains to the BitcoinInfo.ru website, which has gained some popularity in the country.

Prosecutors requested the court to have this website blocked. This was all because the site effectively provided information on Bitcoin, which violated Russian legislation. Over the years, other sites have been blocked by Russian officials as well. Those decisions have sparked a fair amount of controversy.

This story is now relevant again as the Supreme Court of Russia has gotten involved. The Supreme Court obligates the St. Petersburg City court to review the appeal against this blockade. Apparently, the owner of the blocked website was never able to participate in the hearings. A gross oversight, especially given the sensitive nature of the eventual decision.

Can the Appeal Even Work?

A lot has changed in Russia since 2016. There’s a growing focus on blockchain technology. Additionally, President Putin sat together with Ethereum developer Vitalik Buterin to advance the CryptoRuble plans. As such, it seems the overall sentiment on cryptocurrencies is a bit more positive. A national cryptocurrency is very different from embracing decentralized currencies such as Bitcoin. 

Getting this court decision overturned will not be straightforward. Doing so would set a precedent for undoing other website blockades in the country. For now, there is no indication as to when the St. Petersburg City Court will review this matter and render its verdict. Even so, the involvement of the Russian Supreme Court should not be overlooked. 

The global interest in cryptocurrency has not waned over the years. Any country taking a harsh stance on Bitcoin often forces companies to set up shop in other regions. China and India have made some harsh decisions against cryptocurrency in recent weeks. Russia may follow their example or chart a completely different course.  The country wants to embrace innovation, and cryptocurrencies will have their role to play in that regard. 

The post Russian Supreme Court Forces Local Court to Review Bitcoin Website Blockade appeared first on NewsBTC.

Bitcoin Price Weekly Analysis – BTC/USD Primed for Gains – newsBTC

Bitcoin Price Weekly Analysis – BTC/USD Primed for GainsnewsBTCThis past week, there was a solid support base formed near $7,800 in bitcoin price against the US Dollar. The price started an upside move and broke the $8,500 resistance. It was a major mo…

Bitcoin Price Weekly Analysis – BTC/USD Primed for Gains
newsBTC
This past week, there was a solid support base formed near $7,800 in bitcoin price against the US Dollar. The price started an upside move and broke the $8,500 resistance. It was a major move that pushed the price in a bullish wave towards the $9,000

and more »

Bitcoin Price Weekly Analysis – BTC/USD Primed for Gains

Key Points Bitcoin price rocketed higher and moved above a major resistance at $8,500 against the US Dollar. There is a connecting bullish trend line forming with support at $8,650 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently consolidating above $8,600 and it primed for more gains

The post Bitcoin Price Weekly Analysis – BTC/USD Primed for Gains appeared first on NewsBTC.

Key Points

  • Bitcoin price rocketed higher and moved above a major resistance at $8,500 against the US Dollar.
  • There is a connecting bullish trend line forming with support at $8,650 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
  • The pair is currently consolidating above $8,600 and it primed for more gains in the near term.

Bitcoin price is back in a bullish trend above $8,000 against the US Dollar. BTC/USD will most likely extend gains above $9,000 in the near term.

Bitcoin Price Support

This past week, there was a solid support base formed near $7,800 in bitcoin price against the US Dollar. The price started an upside move and broke the $8,500 resistance. It was a major move that pushed the price in a bullish wave towards the $9,000 level. It traded as high as $9,080 before sellers appeared. Later, a minor downside correction was initiated below $9,000.

BTC price tested the 23.6% Fib retracement level of the last wave from the $7,828 low to $9,080 high. However, the downside move seems to be limited by the $8,700 level. There is also a connecting bullish trend line forming with support at $8,650 on the 4-hours chart of the BTC/USD pair. Moreover, the 38.2% Fib retracement level of the last wave from the $7,828 low to $9,080 high is at $8,602. Therefore, there are many supports on the way down up to $8,600. Furthermore, the previous resistance at $8,500 may perhaps act as a strong support.

Bitcoin Price Weekly Analysis BTC USD

Looking at the chart, there is a significant uptrend in place above the $8,500 support. Once the current correction phase is over, the price will most likely bounce back towards $9,000. Above the stated $9,000, the price could even test the al-important $10,000 level.

Looking at the technical indicators:              

4-hours MACD – The MACD for BTC/USD is slightly in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI is moving lower from the 80 level.

Major Support Level – $8,500

Major Resistance Level – $9,000

The post Bitcoin Price Weekly Analysis – BTC/USD Primed for Gains appeared first on NewsBTC.

Beyond Bitcoin: The next cryptocurrencies to watch – The Star Online

The Star OnlineBeyond Bitcoin: The next cryptocurrencies to watchThe Star OnlineEther is the cryptocurrency with the second highest total value after Bitcoin: US$99bil (RM385.66bil). The currency is particularly well suited for so-called "smart co…


The Star Online

Beyond Bitcoin: The next cryptocurrencies to watch
The Star Online
Ether is the cryptocurrency with the second highest total value after Bitcoin: US$99bil (RM385.66bil). The currency is particularly well suited for so-called "smart contracts", whereby payments can be made automatically. For example, someone with ...

Bitcoin’s Rebound Continues After April 17 Tax Day – Forbes


Forbes

Bitcoin’s Rebound Continues After April 17 Tax Day
Forbes
Tom Lee, Fundstrat Global Advisors’ Head of Research, postulated that Bitcoin would be under pressure due to tax loss selling. He calculated that for every $1 in U.S. dollar selling it could impact the market value (think market cap, not price of
$10K Test? Bitcoin Price Hits 4-Week High As Altcoins ShineCoindesk
Bitcoin Set For First Biweekly Gain This Year, Buying Strongest Since March 2017Cointelegraph
Bitcoin Nears $9000 As Crypto Buy Orders Compose 92% of MarketCryptoSlate
newsBTC –CNBC –Hacked
all 36 news articles »

Forbes

Bitcoin's Rebound Continues After April 17 Tax Day
Forbes
Tom Lee, Fundstrat Global Advisors' Head of Research, postulated that Bitcoin would be under pressure due to tax loss selling. He calculated that for every $1 in U.S. dollar selling it could impact the market value (think market cap, not price of ...
$10K Test? Bitcoin Price Hits 4-Week High As Altcoins ShineCoindesk
Bitcoin Set For First Biweekly Gain This Year, Buying Strongest Since March 2017Cointelegraph
Bitcoin Nears $9000 As Crypto Buy Orders Compose 92% of MarketCryptoSlate
newsBTC -CNBC -Hacked
all 36 news articles »

How Bitcoin Cash Outperformed Bitcoin And What’s Next – GlobalCoinReport


GlobalCoinReport

How Bitcoin Cash Outperformed Bitcoin And What’s Next
GlobalCoinReport
Bitcoin Cash is the most prosperous and widely used permanent Bitcoin fork. No other forks of Bitcoin have been as successful as Bitcoin Cash (BCH). Bitcoin Cash boasts itself as a peer-to-peer electronic cash which can be used all over the internet
Five Reasons Why Bitcoin Cash is About to Win BigBitcoin News (press release)

all 6 news articles »


GlobalCoinReport

How Bitcoin Cash Outperformed Bitcoin And What's Next
GlobalCoinReport
Bitcoin Cash is the most prosperous and widely used permanent Bitcoin fork. No other forks of Bitcoin have been as successful as Bitcoin Cash (BCH). Bitcoin Cash boasts itself as a peer-to-peer electronic cash which can be used all over the internet ...
Five Reasons Why Bitcoin Cash is About to Win BigBitcoin News (press release)

all 6 news articles »

Ethereum Price Weekly Analysis – ETH/USD Downsides Remain Supported

Key Highlights ETH price traded higher this past week and moved above the $580 pivot level against the US Dollar. There is a crucial bullish trend line in place with support at $575 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is currently correcting lower, but it remains supported near the

The post Ethereum Price Weekly Analysis – ETH/USD Downsides Remain Supported appeared first on NewsBTC.

Key Highlights

  • ETH price traded higher this past week and moved above the $580 pivot level against the US Dollar.
  • There is a crucial bullish trend line in place with support at $575 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair is currently correcting lower, but it remains supported near the $575 level.

Ethereum price is back in an uptrend versus the US Dollar and Bitcoin. ETH/USD eyes further gains once the current correction is over in the near term.

Ethereum Price Trend

This past week, there was a solid upside move from well below $500 in ETH price against the US Dollar. The price surged higher and it was able to break many resistances such as $550, $580 and $600. It traded as high as $638 before it faced selling interest. A short-term downside correction is underway and the price has moved below the 23.6% Fib retracement level of the last wave from the $487 low to $838 high.

However, the downside move found support near the $580 level. Moreover, the 38.2% Fib retracement level of the last wave from the $487 low to $838 high also acted as a support. On the downside, there is a crucial bullish trend line in place with support at $575 on the 4-hours chart of ETH/USD. Therefore, the pair remains well supported near the $480 and $475 levels. As long as the price is above the $575 level, it could bounce back above $610. At the moment, it looks like the price is consolidating above the $580 pivot level before it makes the next move.

Ethereum Price Weekly Analysis ETH USD

The above chart also indicates a nasty uptrend from the $487 swing low. Thus, the price may correct a few points or consolidate, but it remains well bid on the downside near $475 in the near term.

4-hours MACD – The MACD is slightly moving in the bearish zone.

4-hours RSI – The RSI is currently moving lower toward the 60 level.

Major Support Level – $475

Major Resistance Level – $635

The post Ethereum Price Weekly Analysis – ETH/USD Downsides Remain Supported appeared first on NewsBTC.

Bitcoin Price Watch: Currency Rises to $8,800

The bitcoin price is now up by approximately eight percent since the beginning of the week. At press time, the currency is trading for over $8,800, and $9,000 by Monday seems like a done deal granted bitcoin can keep up its current momentum. “We believe that the ‘winter’ is ending for bitcoin,” say Fundstrat Global Advisors’ Tom Lee. “Headline risks seem to be fading quickly.” Lee went on to discuss CoinsharesCrypto ETF, a trading platform situated in Europe. The organization serves as a leading indicator for bitcoin prices. Interestingly, Lee compared the system to Punxatawney Phil – the groundhog that

The bitcoin price is now up by approximately eight percent since the beginning of the week. At press time, the currency is trading for over $8,800, and $9,000 by Monday seems like a done deal granted bitcoin can keep up its current momentum.

“We believe that the ‘winter’ is ending for bitcoin,” say Fundstrat Global Advisors’ Tom Lee. “Headline risks seem to be fading quickly.”

Lee went on to discuss CoinsharesCrypto ETF, a trading platform situated in Europe. The organization serves as a leading indicator for bitcoin prices. Interestingly, Lee compared the system to Punxatawney Phil – the groundhog that “offers” winter and spring forecasts each February in America. If he sees his shadow, residents can expect another six weeks of winter. If his shadow remains unseen, that usually means spring has arrived.

“We believe large institutional investors globally use this ETF to quickly gain exposure to bitcoin,” he explained. “Hence, when shares rise, big money is buying bitcoin.”

Frank Cappelleri – executive director of institutional equities at Nomura Instinet – predicts that the currency is slated to go much higher, and will likely strike $9,173 in the coming days.

“Bitcoin now is testing a very important downtrend line,” he stated. “The same one that the cryptocurrency failed at in January and again in March on a log scale.”

In addition to BTC, ether is up by over seven percent, and is currently trading for approximately $586. Ripple’s XRP has incurred an 18 percent spike and is now trading at the $0.85 mark. Bitcoin cash sits at roughly $1,069, while Litecoin stands at $149.

In addition, over 60 percent of analysts – according to a poll conducted by Tom Lee – feel that bitcoin could break $12,000 by the time summer rolls along.

Another piece of good news? Bitcoin mining is once again looking profitable. A recent report detailed the ups-and-downs of the cryptocurrency mining business, and suggested that the business of extracting new bitcoin blocks will remain unprofitable granted the price of one bitcoin remains below $8,600.

Now standing beyond $8,800, bitcoin miners have a few rays of hope in their futures. It’s not a big number, and there is certainly a lot of room for improvement, but the signs are there that profit is once again rising from its slumber, and that mining is no longer trapped in a period of descent.

One potential reason for the spike may be the expansion of the Robin Hood app into Colorado territory. Furthermore, over 90 percent of the market is now composed of crypto buys, suggesting that bitcoin and its cousins are becoming far more mainstream and popular amongst the public.

Some, however, suggests a squeeze against a record short position on bitcoin as one of the main “culprits” behind the sudden jump, and further gains may be seen from an influx of major money players entering the crypto market.

“Large hedge funds have entered with deep pockets and strong hands,” says John Spallanzani, a portfolio manager at Miller Value Partners. “All positive signs.”

Like so many others, Spallanzani says considerably higher prices are contained within bitcoin’s future.

Ethereum price analysis for April 21st – Rising towards $700

Ethereum price continued rising throughout Friday’s trading sessions to score a high of $618. After the day’s high was recorded, a downwards price correction attempt pulled Ethereum price down to a day low $576. The market is still moving along the upwards trend line that has been evident since April 10th on the 4 hour ETHUSD chart. Since the 76.4% Fibonacci retracement ($545.17) has been successfully breached, the next strong resistance level lies around $713.24, which corresponds to the 61.8% Fibonacci retracement. Will the market’s bulls still have the upper hand over the market during the next 24 hours? Williams

Ethereum price continued rising throughout Friday’s trading sessions to score a high of $618. After the day’s high was recorded, a downwards price correction attempt pulled Ethereum price down to a day low $576. The market is still moving along the upwards trend line that has been evident since April 10th on the 4 hour ETHUSD chart. Since the 76.4% Fibonacci retracement ($545.17) has been successfully breached, the next strong resistance level lies around $713.24, which corresponds to the 61.8% Fibonacci retracement.

Will the market’s bulls still have the upper hand over the market during the next 24 hours?

Williams Alligator’s mouth “open and eating” on the 1 day ETHUSD chart:

Let’s examine the 1 day ETHUSD chart from Bitfinex, while plotting the Williams Alligator’s SMAs, and the MACD indicator, as shown on the below chart. We will also keep the Fibonacci retracements we plotted earlier this week that span from the low recorded on October 23rd, 2017 ($273.50), and the high recorded on January 13th, 2018 ($1,424.06). We can note the following:

  • Ethereum price is still moving along the upwards trend line that has been evident on the 1 day chart since April 7th. Note that during the past two weeks, higher highs have been recorded during most of the days.

 

  • A typical “three white soldiers” candlestick pattern has been formed by the last 3 candlesticks. The 3 candlesticks have no downwards shadows. The pattern is suggestive of strengthening of the bullish wave, especially that it is proceeded by a short bodied bearish candlestick (almost a doji). It represents a good opportunity to enter long, as most probably Ethereum price will record a high higher than that of Friday today.

 

  • The Williams Alligator’s SMAs have completed a bullish alignment, so we can say that the alligator’s mouth is now “open and started eating”. The red SMA (jaw) is now between the green SMA (lips) from above and the blue SMA (jaw) from below.

 

  • The MACD indicator is bullish. It has just entered the positive territory. It is sloping in an upwards direction. The blue MACD line has crossed above the red signal line.

 

  • Chances are high that Ethereum price will continue on rising towards the next resistance level around $713.24, which corresponds to the 61.8% Fibonacci retracement, during the next 24-72 hours.

Now, let’s examine the 1 hour ETHUSD chart from Bitfinex. We will plot the Ichimoku Cloud, the 200 period SMA, and the Commodity Channel Index (CCI) oscillator, as shown on the below chart.We can note the following:

  •  Ethereum price is moving along an upwards trend that is also evident on the 1 hour chart. Candlesticks are way above the 200 period SMA, which reflects the strength of the current bullish wave.

 

  • The Leading Span A (green line) of Ichimoku Cloud is acting as a support level that prevented further price drop. As Ichimoku Cloud is shifted 26 periods in the future, we can expect the $600 level to act as a support level during the next 26 hours.

 

  • The CCI is a versatile momentum oscillators that is mostly utilized to detect trend reversals and overbought/oversold conditions. The CCI is better interpreted in conjunction with the 200 period SMA. As Ethereum price is currently above the 200 period SMA, and the CCI is above the -200 level, this shows that the uptrend is still active as Ethereum is soaring from oversold levels.

Conclusion:

Ethereum price is rising recording a day high of $618 during Friday’s trading sessions. As per our technical analysis, the bullish wave is most likely to continue pushing Ethereum price to higher levels to attempt testing the resistance around $713.24 during the next 24-72 hours.

Charts from Bitfinex, hosted on Tradingview.com

Cheapair.com Considers Bitpay as Coinbase Terminates Merchant Processing Solutions

Cheapair.com Considers Bitpay as Coinbase Terminates Merchant Processing SolutionsCheapair.com is asking for customer feedback on using Bitpay to process bitcoin payments as its existing processor, Coinbase, is getting out of that business at the end of the month. Cheapair.com has also revealed additional plans for cryptocurrencies. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Coinbase Problem Travel booking website Cheapair.com has been […]

The post Cheapair.com Considers Bitpay as Coinbase Terminates Merchant Processing Solutions appeared first on Bitcoin News.

Cheapair.com Considers Bitpay as Coinbase Terminates Merchant Processing Solutions

Cheapair.com is asking for customer feedback on using Bitpay to process bitcoin payments as its existing processor, Coinbase, is getting out of that business at the end of the month. Cheapair.com has also revealed additional plans for cryptocurrencies.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Coinbase Problem

Cheapair.com Considers Bitpay as Coinbase Terminates Merchant Processing SolutionsTravel booking website Cheapair.com has been accepting bitcoin as a payment option for flights and hotel bookings since 2013. The company currently uses Coinbase to process its bitcoin payments. However, CEO Jeff Klee announced on Friday:

We were recently informed by our processing partner, Coinbase, that they will no longer support ‘custodial’ solutions for merchants, and are removing a number of the tools and features that we rely on to accept bitcoin from Cheapair.com shoppers. These changes are scheduled to occur in a matter of weeks.

Cheapair.com Considers Bitpay as Coinbase Terminates Merchant Processing SolutionsHe explained that bitcoins received by Cheapair.com are immediately converted to fiat because the company has to immediately transfer them to its travel supplier partners such as airlines and hotels. “Coinbase has been providing that service for us, but at the end of the month they are getting out of that business, leaving us scrambling for an alternative.”

Cheapair.com’s rival, Expedia, also accepts bitcoin payments via Coinbase, with a disclaimer on its Terms and Conditions page. “We do not guarantee and are not responsible for the availability of Coinbase’s services.” While Cheapair.com allows bitcoin payments for flights and hotels, Expedia only offers the payment option for hotel bookings.

Migrating to Coinbase Commerce

Cheapair.com Considers Bitpay as Coinbase Terminates Merchant Processing SolutionsCoinbase first announced the launch of its new service for merchants in March. With the launch of Coinbase Commerce, the company is “retiring Coinbase’s Merchant Tools product to focus on making Coinbase Commerce the best possible solution for online retailers,” Coinbase detailed at the time.

The new service “enables merchants to accept multiple cryptocurrencies directly into a user-controlled wallet,” the company described, adding that:

We’ve designed Coinbase Commerce to be a free non-custodial solution for accepting cryptocurrency so merchants can maintain full control over their funds.

Specifically, Coinbase says that on April 30, “Merchants will no longer be able to generate new orders using Coinbase Merchant Tools. Merchant Tool users will still be able to process refunds.” May 31 will be the “Final date for Coinbase Merchant Tool users to migrate to Coinbase Commerce,” the exchange warned, admitting that “We recognize that this decision may be disruptive to Coinbase Merchant Tool customers.”

Cheapair.com’s Future Crypto Plans

Klee proceeded to outline the company’s additional plans for cryptocurrencies. “In the coming weeks, we hope to..Begin accepting additional digital currencies like bitcoin cash, dash, and litecoin. We have already begun testing these,” he wrote.

At the time of this writing, the “Bitcoin and Altcoins” payment option on Cheapair.com includes four cryptocurrencies: bitcoin, bitcoin cash, litecoin and dash. Payments are facilitated by Gocoin.

Cheapair.com Considers Bitpay as Coinbase Terminates Merchant Processing Solutions

The CEO also detailed Cheapair.com’s plans to establish “a dedicated customer service phone line and email inbox staffed with advisors who have a deeper understanding of digital currencies and how they work.” Furthermore, some processes will be automated that are currently “semi-manual, so we can issue refunds more quickly.”

Considering Bitpay

According to Klee, Cheapair.com’s “intention at this point is to use Bitpay as a processor,” noting that the company has “had a great experience with them so far and our integration is largely complete.”

However, he pointed out:

But our one giant concern is that Bitpay does not support “non-payment protocol wallets” (wallets that aren’t BIP-70 compliant). So if you do not have a compatible wallet, you would have to get one and use it as an intermediate stage for your Bitcoin payment.

BIP-70, a controversial upgrade for bitcoin wallets written by Gavin Andresen and Mike Hearn in 2013, has had vociferous fans and detractors debating its use publicly since its introduction.

Cheapair.com Considers Bitpay as Coinbase Terminates Merchant Processing SolutionsWhile designed to make bitcoin payments more secure and nearly foolproof, it limits the number of wallets that can be used to only the six that do support the upgrade. Anyone attempting to pay a merchant that uses Bitpay without coins in one of those wallets will have to download and install a BIP-70 compliant wallet first. This means an additional transaction from their wallet to the new wallet, thereby incurring a second transaction fee and delay.

While empathizing with Bitpay’s goal “to address–delayed or incorrect payments–are real and were especially rampant back in December and January when transaction volumes spiked,” Klee said:

I am not keen on the idea of asking our customers to, in many cases, do more work or change wallets just to be able to transact with us.

The CEO is now asking customers for their input. “Do you buy from other Bitpay merchants? Do you find the BIP-70 wallet requirement to be reasonable or too onerous? Candidly, would this make you more or less likely to do business with us?”

Do you think Cheapair.com should go with Bitpay? Let us know in the comments section below.


Images courtesy of Shutterstock, Bitpay, and Cheapair.com.


Need to calculate your bitcoin holdings? Check our tools section.

The post Cheapair.com Considers Bitpay as Coinbase Terminates Merchant Processing Solutions appeared first on Bitcoin News.

Bitcoin Cash Price Weekly Analysis – BCH/USD Could Break $1,200

Key Points Bitcoin cash price is in a major uptrend from the $650 swing low against the US Dollar. There is a crucial bullish trend line forming with support near $1,090 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair remains well supported on the downside and it could even

The post Bitcoin Cash Price Weekly Analysis – BCH/USD Could Break $1,200 appeared first on NewsBTC.

Key Points

  • Bitcoin cash price is in a major uptrend from the $650 swing low against the US Dollar.
  • There is a crucial bullish trend line forming with support near $1,090 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
  • The pair remains well supported on the downside and it could even break $1,200 in the near term.

Bitcoin cash price is gaining traction above $1,000 against the US Dollar. BCH/USD may perhaps extend gains above the $1,200 level if buyers remain in control.

Bitcoin Cash Price Support

There was a monster rally from the $800 support in bitcoin cash price against the US Dollar. The price jumped and broke many resistances such as $900 and $1,000. It even broke the $1,100 level and traded close to the $1,200 level. A high was formed at $1,193 before the price started a downside correction. It moved down below the 23.6% Fib retracement level of the last wave from the $873 low to $1,193 high.

However, the downside move was limited by the $1,040 level. Moreover, the 50% Fib retracement level of the last wave from the $873 low to $1,193 high acted as a support. More importantly, there is a crucial bullish trend line forming with support near $1,090 on the 4-hours chart of the BCH/USD pair. The pair is moving higher again and is currently trading well above the $1,080 level. It seems like it could continue to move higher and it may even break the $1,200 level in the near term. Above the mentioned $1,200, the price may perhaps test the $1,240 level in the near term.

Bitcoin Cash Price Weekly Analysis BCH USD

Looking at the chart, the price remains well supported on the downside near $1,080 and $1,050 levels.

Looking at the technical indicators:

4-hours MACD – The MACD for BCH/USD is currently reducing its bullish slope.

4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is correcting lower from the 85 level.

Major Support Level – $1,090

Major Resistance Level – $1,200

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Wikileaks Calls for Global Blockade of Coinbase After Its Shop Was Blocked

Wikileaks Calls for Global Blockade of Coinbase After Its Shop Was BlockedWikileaks announced that Coinbase has blocked its official Wikileaks shop without notice or explanation. The organization will all for a global blockade of the cryptocurrency exchange and payment processor “as an unfit member of the crypto community.” Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Coinbase Quits Wikileaks Wikileaks announced on Friday that “Coinbase […]

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Wikileaks Calls for Global Blockade of Coinbase After Its Shop Was Blocked

Wikileaks announced that Coinbase has blocked its official Wikileaks shop without notice or explanation. The organization will all for a global blockade of the cryptocurrency exchange and payment processor “as an unfit member of the crypto community.”

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Coinbase Quits Wikileaks

Wikileaks Calls for Global Blockade of Coinbase After Its Shop Was BlockedWikileaks announced on Friday that “Coinbase has blocked the official @Wikileaks shop from its platform without notice or explanation.”

The shop sells swag such as clothing, accessories, phone cases, stickers, posters, books, and has recently added Cryptokitties.

The organization also posted part of a letter they claim was sent to them from Coinbase which references the Financial Crimes Enforcement Network (Fincen). The letter states that “Coinbase is a regulated Money Service Business under Fincen,” and is “obligated to implement regulatory compliance mechanisms,” adding:

Upon careful review, we believe your account has engaged in prohibited use in violation of our Terms of Service and we regret to inform you that we can no longer provide you with access to our service.

The letter then provides instructions for Wikileaks to withdraw its remaining balance. “We respectfully request that you follow the on-screen instructions presented when you log into your Coinbase account to send any remaining balance offsite to an external address.”

Wikileaks Calls for Global Blockade of Coinbase

In response to Coinbase’s action, Wikileaks announced:

Wikileaks will call for a global blockade of Coinbase next week as an unfit member of the crypto community. Coinbase, a large Californian Bitcoin processor, responding to a concealed influence, has blocked the entirely harmless @Wikileaksshop in a decision approved by management.

Wikileaks Calls for Global Blockade of Coinbase After Its Shop Was Blocked

Wikileaks Calls for Global Blockade of Coinbase After Its Shop Was BlockedBest selling Bitcoin author Andreas Antonopoulos commented, “We have come full circle. Many people’s interest in bitcoin started when Wikileaks was out under an extra judicial embargo by Visa, Mc, Paypal and banks. Now Coinbase has repeated history. Oops.”

He further elaborated, “It’s purely symbolic, unlike the first embargo. Now they have many options. But the symbolism is a pretty poignant reminder of what centralization and banking regulations mean.”

Wikileaks Calls for Global Blockade of Coinbase After Its Shop Was Blocked
Andreas Antonopoulos

Antonopoulos is referring to the 2010 global payments blockade of Wikileaks which led the renegade news service to become one of the earliest and most public champions of Bitcoin. Six days before Satoshi Nakamoto mysteriously left the community, a debate broke out on the Bitcointalk forum between Nakamoto and those wanting Wikileaks to embrace Bitcoin. The event, described in Julian Assange’s book “When Google met Wikileaks,” is largely thought to be one of the reasons that Bitcoin’s creator left the project.

Recently, Coinbase also announced changes to its merchant services. The company will no longer support custodial merchant processing solutions, replacing them with a free, non-custodial solution. One vendor, Cheapair.com, has already announced that it is leaving Coinbase for this reason to seek a different payment processor for cryptocurrencies.

What do you think of Coinbase’s action and Wikileaks’ response? Let us know in the comments section below.

Images courtesy of Shutterstock, Andreas Antonopoulos, and Wikileaks.


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How ‘Whales’ influence the price of Bitcoin

The term ‘whale’ refers to an investor with deep pockets who can move the market by buying or selling in large volumes. Given the relatively modest market caps of crypto assets compared to other sectors, the movements of crypto whales can provide impor…

The term ‘whale’ refers to an investor with deep pockets who can move the market by buying or selling in large volumes. Given the relatively modest market caps of crypto assets compared to other sectors, the movements of crypto whales can provide important price signals to alert investors