Key Points Bitcoin cash price failed to move above the $900 resistance zone and declined against the US Dollar. There is a short-term connecting bullish trend line formed with support at $865 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair must stay above $860 and the 100 hourly simple…
Bitcoin cash price failed to move above the $900 resistance zone and declined against the US Dollar.
There is a short-term connecting bullish trend line formed with support at $865 on the hourly chart of the BCH/USD pair (data feed from Kraken).
The pair must stay above $860 and the 100 hourly simple moving average to avoid more losses.
Bitcoin cash price failed to surpass a major hurdle near $900 against the US Dollar. BCH/USD declined and is currently testing the 100 hourly SMA.
Bitcoin Cash Price Resistance
Yesterday, we saw a decent upside move in bitcoin cash price above the $880 level against the US Dollar. The price traded towards the $900-910 resistance zone where sellers appeared. It failed to move above $910 and started a downside move. There was a major bearish reaction and the price declined below the $880 level. Moreover, there was also a break below the 50% Fib retracement level of the last wave from the $826 low to $927 high.
At the moment, the price is approaching a key support area above $860. There is also a short-term connecting bullish trend line formed with support at $865 on the hourly chart of the BCH/USD pair. The same trend line is positioned around the 61.8% Fib retracement level of the last wave from the $826 low to $927 high. Moreover, the 100 hourly simple moving average is positioned around the $860 level. Therefore, the $860-865 support zone holds a lot of importance.
Looking at the chart, the pair must stay above $860 and the 100 hourly simple moving average. If not, there are chances of more declines below the $850 level in the near term. On the upside, resistances are seen near $880 and $900 levels.
Looking at the technical indicators:
Hourly MACD – The MACD for BCH/USD is now back in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD dipped sharply below the 50 level.
Mining for Bitcoin in a remote Russian outpost Financial Times Russia’s approach to cryptocurrencies is unclear — it had said it would ban them but its tone appeared to soften after Vladimir Putin met Vitalik Buterin, the creator of Ethereum, one of bitcoin’s rivals. What is clear is that Kaliningrad is very much …
Mining for Bitcoin in a remote Russian outpost Financial Times Russia's approach to cryptocurrencies is unclear — it had said it would ban them but its tone appeared to soften after Vladimir Putin met Vitalik Buterin, the creator of Ethereum, one of bitcoin's rivals. What is clear is that Kaliningrad is very much ...
Wall Street JournalIs Bitcoin the Future, or an Echo of a Failed Past?Wall Street JournalBut there are some real-world uses for bitcoin. A smattering of small businesses accept it. Online travel sites Expedia and CheapAir.com accept it. In Japan, busin…
Is Bitcoin the Future, or an Echo of a Failed Past? Wall Street Journal But there are some real-world uses for bitcoin. A smattering of small businesses accept it. Online travel sites Expedia and CheapAir.com accept it. In Japan, businesses like electronics retailer Yamada Denki accept it. There are even two Montessori …
Bithumb, one of the largest exchanges in Asia, just broke the news that it has been hacked, with the hackers reportedly stealing over $30 million worth of cryptocurrencies. Bithumb Wallet Change Backfires At 12:49 UTC on June 19th, Bithumb announced that they would be temporarily suspending deposits due to a change in wallets with their exchange…
Bithumb, one of the largest exchanges in Asia, just broke the news that it has been hacked, with the hackers reportedly stealing over $30 million worth of cryptocurrencies.
Bithumb Wallet Change Backfires
At 12:49 UTC on June 19th, Bithumb announced that they would be temporarily suspending deposits due to a change in wallets with their exchange service. Although a change in the wallet system may be a security improvement for some exchanges, it ended up backfiring, resulting in an unexpected cryptocurrency hack.
Just 12 minutes after they suspended their deposit system, they announced that they were going to suspend all deposit and withdrawal services due to an over $30 million hack from wallets. Bithumb said:
[Notice for the suspension of all deposit and withdrawal service] We checked that some of cryptocurrencies valued about $30,000,000 was stolen. Those stolen cryptocurrencies will be covered from Bithumb and all of assets are being transferring to cold wallet.
It is great to see that Bithumb had their hands on the trigger in case anything went wrong, quickly moving all assets to cold storage to mitigate any further risk.
It is likely that one of the wallets they exchanged to contain malicious code, resulting in hackers stealing over $30 million dollars of cryptocurrencies, which still remain unnamed at the time of writing. To further mitigate risk, Bithumb has announced that all deposits and withdrawals will be stopped until further notice, allowing Bithumb to get its security systems back under control.
As aforementioned, Bithumb is one of the largest exchanges in Asia, collectively trading over $270 million dollars worth of cryptocurrencies in the past 24 hours. $30 million in hacked cryptocurrencies may seem like a vast sum, however, while putting into the context of the whole cryptocurrency market, it is unjust to say that this hack should have caused the market to drop over by over three percent.
Charlie Lee, founder of Litecoin, made an announcement on Twitter advising users that users should keep their cryptocurrencies in secure personal wallets.
Another day, another hack. Hopefully BitThumb is able to cover this amount, though $30MM is not a small amount.
As I've said many times, be smart and only keep on exchange coins that you are actively trading. It's best to withdraw right after trading. https://t.co/8YpVcHx8tK
As this is breaking news, it is currently unclear how Bithumb and its customers are going to address the problem as this situation develops. But as Charlie Lee said, “Hopefully Bithumb is able to cover this amount, though $30 million is no small amount.”
When this announcement broke at 1 AM UTC on June the 20th, the cryptocurrency market took an immediate hit, with Bitcoin falling over $200 dollars within the span of a few minutes. It has since stop dropping, finding price levels at $6600.
Ubcoin blockchain Ebay-like ecosystem for selling and buying real goods with cryptocurrency is expanding its presence in the Asian market By the end of 2018, the mobile payments app Ubank is planning to open offices in Singapore, Hong Kong, and Seoul to promote its global blockchain goods-to-crypto exchange platform Ubcoin Market in the region and […]
Ubcoin blockchain Ebay-like ecosystem for selling and buying real goods with cryptocurrency is expanding its presence in the Asian market
By the end of 2018, the mobile payments app Ubank is planning to open offices in Singapore, Hong Kong, and Seoul to promote its global blockchain goods-to-crypto exchange platform Ubcoin Market in the region and to implement the market launch strategy of the product. Currently, the project has offices in Russia and also represented in the United Arab Emirates.
Initially, each of these new offices will have a dedicated team of three employees maintaining and developing the growing number of partnerships in the countries as well as providing customer support and educating users about handling cryptocurrency. In the future, these teams will also be responsible for liaising with partners from other Asian countries.
“We have decided to open offices in these locations because their markets are our top priorities in terms of Ubcoin Market’s development and further expansion. Apart from that, we’ve already forged a number of vital partnerships and relationships in the country. Most importantly, we’ve been collaborating with Samsung for more than 10 years. Since 2007, three apps created by our team — including the Ubank app that is going to have Ubcoin Market as its integral part — have been pre-installed by the world’s largest mobile phone manufacturer Samsung. There are team members and advisors who hail from South Korea on Ubcoin Market’s team; we’ve been actively growing our community in South Korea; and, recently, some of our partners and supporters from the country even visited our office in Moscow, and personally viewed and interacted with our large team, which actively developing our technology” says Felix Khachatryan, Ubank’s and Ubcoin Market’s CEO.
Earlier this year, Ubank received investment from the Singapore-based VC fund Amereus Group for the expansion of its peer-to-peer blockchain trading platform in the Asian market. “We have decided to support the further development of Ubcoin Market because the platform will be integrated into Ubank, the leading mobile payments app in the Eastern Europe that is pre-installed on all Fly and Samsung smartphones, which is particularly impressive considering that only 9% of all ICO projects have a working business and/or product prior to the start of their crowdfunding campaign. Ubank has also done due diligence and all the other procedures ensuring that their blockchain product meets all KYC and AML requirements,“ comments Rim Hosup, Director at Amereus Group.
Hong Kong’s office mission will be to liase with the vibrant community of tech entrepreneurs and venture capitalists of the SAR and mainland China.
Currently, Ubcoin Market is conducting its public token sale during which the project has already raised more than $4 million.
About Ubcoin Market
Ubcoin Market is a blockchain project developing a smart ecosystem for easily investing and exiting cryptocurrency by buying and selling goods and services. Ubcoin Market was founded by the same team that founded Ubank, the leading mobile payments app in Eastern Europe that has been working since 2009 and, as of today, has 2.5 million active users, more than 16 million downloads around the world, and has been pre-installed by Samsung and Fly. To learn more about the vision and the structure of the project visit its website and read its whitepaper. You can buy Ubcoin tokens with a discount now on https://ubcoin.io/en
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.
Hashgraph is distributed ledger technology built on its own version of a DAG, similar to IOTA, for the age of the Internet of Things. But is this really the “blockchain killer”?
Hashgraph is distributed ledger technology built on its own version of a DAG, similar to IOTA, for the age of the Internet of Things. But is this really the “blockchain killer”?
Here is the remaining interview that was not published by coindesk. – Who’s a part of the team? The team is a diverse collection of Bitcoin developers, contributors and enthusiasts. A federation of soverign individuals who are coming together to further the vision of a decenetralized trust network. – How did this idea come about? […]
Here is the remaining interview that was not published by coindesk.
– Who’s a part of the team?
The team is a diverse collection of Bitcoin developers, contributors and enthusiasts. A federation of soverign individuals who are coming together to further the vision of a decenetralized trust network.
– How did this idea come about?
The idea for Bitcoin Core ($BTCC) had its inception in the days leading up to the original hardfork of BCH and the 2X fork. At its roots, are many of the same values and passions and people involved in the UASF movement.
– Can you tell me more about the Bitcoin Core name choice?
Bitcoin Core ($BTCC) is a commitment to the core values of Bitcoin.
I realize that it’s a joke, making fun of people who call bitcoin “Bitcoin Core.” But what’s the benefit of making “Bitcoin Core” a real thing?
Bitcoin Core ($BTCC) is not a joke. Once BCH forked to create a “big block” version, it allowed for experimentation in this implementation. Bitcoin Core ($BTCC) is a representation of the core values of Bitcoin in action.
– Why keep the original bitcoin cash chain alive?
The original was kept alive as an experimental test bed, and in case there was ever a use for it to make a positive contribution to Bitcoin. It was, and is, a labor of love.
– Aren’t altcoins scams?
Great question. The definition of a scam is a “dishonest scheme” or a fraud. A scam is claimimg to be something, or someone, that you are not. With regard to altcoins being scams, anything or anyone who claims to be something that they are not are trying to gain the confidence of another to defraud them. That is where the term con-man comes from. Con-men want you to “trust” them. In fact, they rely on another’s trust, that make false claims to gain the confidence of others to defraud them. Con-men are scammers, and to your question, some alt coins are used to scam people. Con-men use people’s confidence in them to defraud them into investing in their altcoin. Cryptocurrencies, like humans, are vehicles for values. If the founder is a “scammer” then their coin will be a vehicle of the values of that founder. They will use their coin to defraud others. They will make false claims about themselves or their coin that are meant to gain the confidence of investors. That makes it a scam, not an altcoin. So it’s all about the core values.
– What happened to Bitcoin Clashic?
Bitcoin Clashic was maintained, nourished, experimented on, and its code reworked and updated, in preparation for adding value to the ecosystem. That chain was forked on (date) and renamed to Bitcoin Core ($BTCC).
– What are the team’s future plans for development?
Having access to “big blocks” gives us the ability to do some really cool things.
As our reason for being is precisely not to compete with Bitcoin but to add value to the ecosystem, we want to experiment with two things: 1. speed 2. privacy
We see faster blocktimes in our near future, and a bit farther out, confidential transactions by default.
We are going to experiment with much faster block times, to make it near instant and useable in point of sale systems.
Further, privacy is been partly written off on Bitcoin, we however, hold privacy as a “core value”… we have a vision to bring privacy to bitcoin, and add confidential transactions as a default feature to bitcoin core $BTCC.
Who should I attribute the above responses to?
The Bitcoin Core developers and contributors.
Is everyone on the team anonymous?
Yes. Bitcoin Core is focused on the message, developing the code, and the community. We do not promote personality.
I see what you’re saying about BTCC not being a “joke” per se.
As BTCC is really for the people, and in the hands of the people, we are seeing multiple instances where the community expresses their voice. Some members of the community decided to have some fun and leverage the publicity. However, the Bitcoin Core developers are committed to delivering a unique value proposition, adhering to core values, and offering increased speed and enhanced privacy.
4) The privacy features sound interesting. BUT, the website says (or at least used to say) Roger Ver / CNBC advocated for BTCC. Which seems like a joke/trolling, since he was talking about bitcoin, not BTCC.
The community is diverse and so are the voices within it. Some members of the community took the opportunity to leverage the publicity.
5) And the Bitcoin Core (BTCC) Twitter has a photo of John McAfee in space, lol. I want to hear more about all that and the ideas behind all that. :p
Again, as serious as we are about delivering a unique value proposition, the community has multiple voices and obviously some have a great sense of humor. McAfee is one of those crypto-characters that are ripe for some fun memes.
TheBitcoinCore.org
@BitcoinCore_
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.
While the crypto market is in a general bear slide, Ripple is amongst the top performers in the last 24 hours. To quantify, Ripple is up three percent rejecting sellers’ attempt to drive prices towards 40 cents which double ups as Q2 and April lows. 40 cents is basically a key support line in our…
While the crypto market is in a general bear slide, Ripple is amongst the top performers in the last 24 hours. To quantify, Ripple is up three percent rejecting sellers’ attempt to drive prices towards 40 cents which double ups as Q2 and April lows. 40 cents is basically a key support line in our analysis and all things constant, it might as well as be a spring board for buyers in the days to come.
From the News
Just a single announcement from the SEC and various coin supporters are already churning dissertations explaining why their digital assets are utilities. According to the SEC, decentralization is the top consideration and a filter that qualifies a coin as a security or a utility. As we all know, XRP token and Ripple Labs are one and the same thing.
XRP token came to existence because of the RTXP Protocol. XRP is an enabler for companies using the Ripple Protocol gateways as they can settle their transactions instantly. By definition, this coin is nothing more than a liquidity tool. That’s its sole purpose and as an infrastructure specifically meant for banks and an alternative to slow SWIFT, financial institutions can decide to forego XRP but still use other Ripple products as xRapid and xCurrent.
Back to decentralization and many think there is an element of decentralization in Ripple. Here we have Ripple Labs though with a decentralization strategy in place whose first phase is up for implementation next month, the sheer amount of coins at their disposal is a worry. Brad Garlinghouse says this is a non-issue but as long as they have these coins and control network validators, freeze user accounts at will, then we have nothing more but centralization.
Currently, supporters point to FinCEN and how their 2015 agreement is binding but what many forget is that FinCEN and SEC are two different entities with diverging objectives. FinCEN goals are simple: Nab illegal financial transaction and ensure facilitators adhere to AML, KYC and ATL laws and regulation. On the other hand, SEC is in place to protect investors in the securities market. It’s basically an oversight role which FinCEN isn’t. So whether SEC consider XRP a security or utility is upon their main criteria: Decentralization.
From this chart we can easily note that bears took approximately two months to reverse April gains. By all accounts this is purely a case of effort and result. Volumes reflect this struggle because while we can see sellers having an upper hand, volumes are noticeably lower.
In fact, the past eight weeks average volume is around 25 million. We can’t compare that to April’s which stood at around 65 million. So, whether we were witnessing a long covering or not, price action will prove. What we know though is that XRP is beginning to find support in lower time frames.
After periods of lower lows and consolidation, it appears as if XRP prices are likely to rise. Relative to our overall bearish stand, it is likely that buyers would have an upper hand. It isn’t hard to see why after June 18 bullish confirmation yesterday.
As such, buying on dips on lower time frames with stops at 45 cents would be safe. From previous forecasts, targets at 70 cents and later $1 assuming bull pressure is strong is ideal. Otherwise, ideal buy triggers for conservatives would be at 60 cents when XRP prices are above recent accumulation or June 12 highs.
] (@SatoshiLite) 
Hashgraph is distributed ledger technology built on its own version of a DAG, similar to IOTA, for the age of the Internet of Things. But is this really the “blockchain killer”? 
