Day: April 28, 2018

With all cryptocurrencies still enjoying the current uptrend across the industry, things are looking rather interesting. Although this uptrend isn’t much of a surprise anymore, it is still good to see some currencies not major gains in the past 24 hours. As of right now, the EOS price continues to surge well beyond what it should be at, but that can be a good thing.

Bullish EOS Price Trend Remains in Place

It is quite interesting to see how all of the different cryptocurrencies are enjoying this upward momentum for quite some time now. More specifically, Bitcoin and most of the top altcoins have gone up in a nearly straight line for nearly two full weeks now. The EOS price is a good example of how this trend has materialized, even though one could argue this particular altcoin is going up at an alarming rate as of late.

With the EOS price going from $6 to $21.97 in very quick succession, one has to wonder how legitimate this altcoin’s momentum is. Albeit few people will deny EOS has massive potential, the technology isn’t exactly in place to make good things happen just yet. A lot of things are under development, and some new announcements are only fueling the hype even further. As such, we see another 20.51% EOS price increase in the past 24 hours.

It is pretty interesting to see how the EOS price momentum simply carries on without too many problems. Any slightest hint at price momentum resistance is turned into even bigger gains pretty quickly. Thanks to solid gains over Bitcoin and Ethereum as well, the EOS price will be able to maintain its value above $0 for some hours and potentially days to come. At the same time, there will be a steep correction at some point.

One thing working in favor of EOS is how its trading volume is on the rise as of right now. With $3.387bn in 24-hour volume, the demand for this altcoin has not slowed down in the slightest. The massive price fluctuation also plays a big role in this regard, as people are attracted by the value increase which generates even more trading volume. The big question is how many bagholders will be left behind in the end, though.

As of right now, OKEx leads in terms of trading volume. Its lead over Bithumb is quite significant, and Bitfinex is even further behind. With two fiat currency pairs in the top three, some fresh capital is entering the EOS ecosystem as we speak, which is a good thing. EOS is also reducing the Bitcoin Dominance Index quite a bit, as that percentage has dropped to 36.5% over the past few hours.

How this EOS price surge will work out in the long run, remains pretty difficult to estimate. Although one could argue this trend appears completely legitimate, such massive gains are not organic growth by any means. When the EOS price correction happens – and not the brief dip we saw this week – things will get pretty nasty rather quickly. When that will happen exactly, remains to be determined at this stage.

newsBTC

Bitcoin Price Weekly Analysis – BTC/USD Could Break $10000 newsBTC This past week, bitcoin price gained traction and traded towards the $9,800 level against the US Dollar. It traded as high as $9,742 before sellers appeared. Later, a downside correction was initiated and the price declined below the $9,500 and $9,200 ... and more »

Key Points

• Bitcoin price remains in a decent uptrend with supports at $9,200 and $8,600 against the US Dollar.
• There is a key bullish trend line in place with support at $9,150 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
• The pair is likely to move further higher and it could soon break the $10,000 hurdle in the near term.

Bitcoin price is moving nicely above the $8,600 support against the US Dollar. Going forward, BTC/USD is poised to extend gains above $10,000 and $10,500.

Bitcoin Price Trend

This past week, bitcoin price gained traction and traded towards the $9,800 level against the US Dollar. It traded as high as $9,742 before sellers appeared. Later, a downside correction was initiated and the price declined below the $9,500 and $9,200 support levels. The price even broke the 23.6% Fib retracement level of the last leg from the $7,786 low to $9,742 high. Finally, there was a spike below the $9,000 level before buyers reappeared.

BTC price tested the 61.8% Fib retracement level of the last leg from the $7,786 low to $9,742 high to complete a correction pattern. It started an upside move and moved back above $9,000. Buyers also succeeded in breaking a connecting bearish trend line with resistance at $9,200 on the 4-hours chart of the BTC/USD pair. It seems like the pair is back in an uptrend above $9,200, and it could accelerate gains towards $9,750. More importantly, the price may perhaps break the all-important $10,000 level to trade to a new monthly high.

Looking at the chart, there is a key bullish trend line in place with support at $9,150. Therefore, if the price corrects lower from the current levels, then $9,200, $9.150 and $9,000 levels are likely to prevent declines.

Looking at the technical indicators:              

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

4-hours RSI (Relative Strength Index) – The RSI is moving higher towards the 65 level.

Major Support Level – $9,150

Major Resistance Level – $9,750

The post Bitcoin Price Weekly Analysis – BTC/USD Could Break $10,000 appeared first on NewsBTC.

gulfnews.com

Watch: Dubai Police recover Dh7m from Bitcoin heist gulfnews.com "The brothers searched randomly in the market to buy Bitcoin. The gang lured them claiming they can sell them Bitcoin," Lt Col Al Joker said. The head of the gang deceived a commercial shop owner in Al Muraqabbat area, who put an advertisement to sell ... Bitcoin heist: Dubai Police arrest 10, recover Dh7 millionKhaleej Times all 7 news articles »

newsBTC

Bitcoin Cash Price Weekly Analysis – BCH/USD Remains in Uptrend newsBTC After a solid rally, bitcoin cash price topped around the $1,576 level against the US Dollar. A downside correction was initiated and the price moved below the $1,500 level. The price also declined below the 23.6% Fib retracement level of the last ... and more »

Key Points

• Bitcoin cash price corrected lower and tested a major support at $1,240 against the US Dollar.
• There is a major bullish trend line forming with support near $1,320 on the 4-hours chart of the BCH/USD pair (data feed from Kraken).
• The pair remains in an uptrend and it could soon break the $1,500 resistance for more gains.

Bitcoin cash price is bullish above $1,300 against the US Dollar. BCH/USD may continue to grind higher in the near term towards $1,500 and $1,600.

Bitcoin Cash Price Trend

After a solid rally, bitcoin cash price topped around the $1,576 level against the US Dollar. A downside correction was initiated and the price moved below the $1,500 level. The price also declined below the 23.6% Fib retracement level of the last upside leg from the $1,030 low to $1,576 high. It opened the doors for a larger correction and the price even broke the $1,300 support level.

However, the decline was protected by the $1,240-50 zone. Moreover, the 61.8% Fib retracement level of the last upside leg from the $1,030 low to $1,576 high also acted as a support. The downside move found support around $1,240. A base was formed and the price resumed its uptrend. It is now back above the $1,400 resistance and is trading in a bullish zone. There is also a major bullish trend line forming with support near $1,320 on the 4-hours chart of the BCH/USD pair. The pair remains well supported on the downside around the $1,320-40 levels.

Looking at the chart, it seems like the price may continue to move higher and it could soon break $1,500. A successful break above $1,500 may perhaps clear the path for a new high above $1,575 in the near term.

Looking at the technical indicators:

4-hours MACD – The MACD for BCH/USD is slowly moving back in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 55 level.

Major Support Level – $1,320

Major Resistance Level – $1,500

The post Bitcoin Cash Price Weekly Analysis – BCH/USD Remains in Uptrend appeared first on NewsBTC.

Bitcoin News (press release)

Chinese Household in Trouble for Chasing a Lost Cause – Mining Bitcoin with Phones Bitcoin News (press release) According to the South China Morning Post, the equipment has been used to mint bitcoins. Mining the oldest cryptocurrency is a power-intensive activity. It requires a lot of electricity and needs some serious cooling. Highly specialized hardware ... Chinese Authorities Seize 600+ Computers Used for Bitcoin MiningBitcoinist all 5 news articles »

Attorney David Silver, the apparent reigning king of crypto lawsuits, explains why he is not just an “ambulance chaser” in an exclusive with Cointelegraph #FOLLOW_UP

IBM has partnered with some of the top companies in the gold and diamond industries on a cross-industry blockchain initiative meant to trace the origin of finished jewelry. The initiative, which was announced via a blog post by the New York-based tech giant, is intended to introduce transparency to an industry that has witnessed an increase in counterfeit jewelry, and brings together five of the most prominent names in the industry. The initiative will track the precious metals as they move through every stage of the supply chain until they become finished pieces of jewelry.

TrustChain Initiative

TrustChain Initiative will be powered by the IBM Blockchain Platform and delivered via the IBM Cloud. The participating companies are Asahi, a precious metal refiner; the Richline Group, an international jewelry manufacturer which is a subsidiary of Berkshire Hathaway; LeachGarner, a precious metal supplier based in Massachusetts; Helzberg Diamonds, a jewelry retailer headquartered in Kansas City and also a subsidiary of Berkshire Hathaway; and UL, an independent, third-party verification company which, among other things, deals with the verification of products to ascertain whether they are what they claim to be.

TrustChain will initially track six styles of diamonds and gold engagement rings on the blockchain network as a pilot. This will help the development team iron out the kinks before it’s officially rolled out later in the year. TrustChain jewelry is expected to hit select retail stores by the end of the year. The initiative will track the jewelry from the precious metal stage through processing until it becomes a finished product at a retail store.

TrustChain will provide digital verification of the products, verification of all the processes involved, and third-party oversight. The objective of the collaboration is to build trust in the origin of jewelry by bringing together a community of ethical organizations which are equally committed to the cause across the jewelry supply chain.

The First Of Its Kind

TrustChain was developed on the IBM Blockchain Project and the Hyperledger Project and uses a distributed ledger on which records are shared among all participants and are immutable. The data will be available in real time to all the permissioned participants. The digitization of the processes will introduce a new form of command to the flow of information and will give participants the ability to collaborate on projects without privacy, security or confidentiality being compromised. The initiative will also introduce products that consumers can trust and which have a documented and verifiable origin.

Speaking about the initiative, IBM’s SVP for blockchain and global industries, Bridget van Kralingen, described it as an example of the blockchain’s power to transform industries by introducing transparency to the process. The initiative was necessitated by growing demand among consumers for the best-quality jewelry, she added.

Richline’s chief marketing officer, Mark Hanna, characterized the initiative as the first of its kind and important for the jewelry industry.

This initiative is important for our industry as we seek to raise the collective responsibility and provenance practices to new heights. TrustChain is the first blockchain of its kind within our industry, designed as a solution that marries IBM’s leading blockchain technology with responsible sourcing, verification and governance by third party organizations, led by UL as the administrator.

 

Bitcoin is now trading for just under $9,400. This is a near $200 spike from yesterday’s $9,200, which in turn, was a solid increase over bitcoin’s previous position of $8,800. The total cryptocurrency market cap has now surged beyond $420 billion, and investors are breaking out the champagne.

One of the reasons behind the jump may be the island nation of Malta. The small country has been developing a reputation of late as one of the biggest bitcoin and blockchain havens in the world, with several trading exchanges from Binance to OKEx relocating to its serene, coastal atmospheres. Malta is now introducing three new blockchain and cryptocurrency-related bills that have garnered widespread praise and attention from both the public and government figures alike, and are slated to bring newfound legitimacy to Malta’s growing blockchain environment.

The bills are designed – among other tasks – to develop a governing authority association that will potentially bring regulatory tactics to both ICOs and all future cryptocurrency exchanges. Parliament has approved the bills, and while they haven’t jumped into law territory just yet, things are looking relatively positive. We will bring you more information on this story as it develops.

Of course, the best news is that analysts are claiming the bullish trends of bitcoin and cryptocurrencies over the past few weeks are not a fluke, and if anything, should continue for some time. Finance expert Carter Worth, for example, recently spoke with CNBC about trend lines in bitcoin’s behavior that suggest “big movements.” Right now, bitcoin is still facing judgement and obstacles from banks, traditional financial institutions and government offices, which are under extreme pressure to enforce regulation.

However, Worth explained that bitcoin is showing markers of long-term growth patterns, which could potentially take it to its highest prices in the coming months:

“When you have lower highs and higher lows, it represents equilibrium, and there’s a debate. Some love this thing (bitcoin), and some think it is, of course, the greatest fraud of all time, but this is going to get resolved violently. I think there’s more to go, so if you had to be long or short, I want to go long here.”

In addition, Worth said that the same patterns are being witnessed in competing altcoins like ether and Ripple’s XRP.

Some analysts suggest an interesting argument: that women – alleged primary controllers of American wealth and household spending – could potentially send bitcoin and cryptocurrency prices “to the moon.” In a new study, it appears roughly five percent of bitcoin holders and researchers are women, while only four percent hold ether or other major altcoins.

Meltem Demirors – founder of Athena Capital – is advising all women to get involved in crypto-trades. She says that there is a lot of money simply lying around that if invested, could potentially spike bitcoin prices beyond anything witnessed in 2017.

“I feel like we’re missing out on this major opportunity to market to 51 percent of the population, to 60 percent of the wealth and to 80 percent of consumer spending,” she exclaims. “I think the question is, ‘Can we use our influence to ensure that 51 percent of the world’s population isn’t missing out on this massive wealth-creation event?’”

You thought you’d heard everything about blockchain and its uses. But just as the cryptocurrency community has taken bleeding-edge innovation up a gear, so too have the blockchain developers, entrepreneurs, and creatives. Beyond fixing broken systems, allowing for real-time record keeping, and wiping out corruption, blockchain could soon be taking to the skies.

What’s Flying Around Above Our Heads?

Well, it rather depends where you live. But if you’re in a major metropolitan area, almost certainly a few hundred drones. As drone technology has taken off and Amazon continues its charge to provide consumers with near-instant delivery, oscillating objects in the sky are becoming more and more common.

Says Max Smetannikov, CIO of Vimana, “Each time a drone changes direction from vertical or horizontal, they adjust their flight path.” And with the growing popularity of both private and commercial, there are now more than 300 categories of drones. They are saving corporations billions of dollars on delivery, marketing, land surveying, and more.

It doesn’t take a rocket scientist to see the implications of this.

“If you saw the drones flying at the start of the South Korean Winter Olympics, that was just the beginning,” Smetannikov laughs.

Airspace regulation changes over jurisdiction. In the United States, drones currently cannot fly above 500 feet, and regulation below that limit remains a gray area. Overcrowded airspace plus unclear guidelines equals a less-than-appealing scenario all around. And it presents a pertinent question: with the number of drones increasing, how can they all be managed?

Vimana plans to engineer an air traffic control system to control each drone. Their customers will not be the buyers of the drones themselves, such as Amazon and DHL, but Smart Cities with urban air mobility programs. “Blockchain allows for an infinite number of data units to be synchronized automatically, allowing us to develop this air system,” he says. The Smart Cities will then charge drone users an airspace tax to circulate.

But is Blockchain Prepared for Such a Feat?

No. Not yet, anyway. “Drones can’t use the blockchain as we have it today, so we came up with a proprietary node system, an IoT-type system. Any drone unit is very small, so it sits on drones and other computer platforms, transmitting to other drones.” When asked about the high computational power issues that often arise with blockchain and IoT, Smetannikov says:

“There’s more than one way to skin a cat. If you engineer the blockchain to the specs you need, you can engineer it to what you want it to do. Explain to engineers that you need underlying ubiquitous broadband and high-speed high capacity, and that is what you’ll get.”

Vimana will be based on not one or two, but three custom infrastructures, according to Smetannikov.

It’s a remarkable project, to be sure. Vimana is, in fact, the only blockchain company currently working in this space. And it’s not without its challenges. Beyond the quantum feat of adapting the technology, the team at Vimana may subject themselves to a slow and painful death by bureaucracy. “A project like ours starts and ends on government regulation,” Smetannikov says.

They’re currently working with 40 government MOUs (Memorandums of Understanding), each with different legislation, cultures, and operating environments.  

So, how long will it all take? They expect to conclude the first 500 MOUs within the next five years, although the first test run will be out at an undisclosed destination later this year, taking blockchain to the skies.

Hacked exchange BitFrail will be declared bankrupt if lawyers representing the victims are successful in winning their case in an Italian court.

This is yet another episode in a legal saga surrounding BitGrail, which began when a US class action was filed against the company in order to compensate victims for the loss of 17 million XRB (Nano) tokens, thought to have been stolen in January of this year. They were worth about USD 187 million at the time the theft was reported.

The file for bankruptcy against BitGrail by Italian law firm BonelliErede is the latest development in an argument between BitGrail’s owner, Francesco “The Bomber” Firano, and the peer-to-peer platform, The Nano Foundation.

The original hacking prompted BitGrail to freeze trading in February, followed by the Nano community starting a legal fund through creditor Espen Enger who represented nearly 600 victims at the time. Reportedly, BonelliErede is now filing the bankruptcy petition on behalf of Enger who has made contact with over 3,000 claimants who made a statement indicating that a speedy and “equitable” resolution was needed:

“In filing for a declaration of bankruptcy, a decision has been made to trust the Italian legal system to resolve the conflict. We are confident that the Italian authorities are best equipped to require Mr Firano to disclose the facts of what occurred […] [We] seek an equitable distribution of the assets rather than to permit private resolutions in which some victims might profit over others.”

In February, Nano developers accused Firano of asking for the altcoins ledger to be modified, misleading the community as to the financial solvency of the company. Firano, in turn, blamed Nano’s software accusing the company of employing a “totally unreliable” protocol.

In March, Bitgrail said that they would refund victims of the hacking to cover 80% of their losses by issuing a new token (BGS) and the remaining 20% in XRB. However, victims were required to sign off on taking any further legal action against the exchange.

Nano has recently released a statement promising:

“Nano will be matching the contributions of the victims to the legal fund established by Mr Enger — including both past and future donations, for up to USD 1 million — with a goal of establishing a total legal fund valued at USD 2 million.”

So far, the victims represented by Enger have raised over USD 300,000 in multiple currencies (including over 53,000 Nano). Nano claims this amount has now doubled after its contribution.

image source: https://pixabay.com/en/lady-justice-legal-law-justice-2388500/ – Jessica 45

 

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