Day: July 2, 2018

Bitcoin Press Release: IP Gold maximizes monetization of digital assets using blockchain technology.

June 26, 2018. Seychelles:  IP Gold today announced a 24-hour Sale on July 3, 2018, with a generous 50% bonus, to kick-off its move from Ethereum to the NEM Blockchain.

The proliferation of tokens and other Decentralized Applications (DApps) on the Ethereum blockchain are continuing to strain the transaction capabilities and speed of its underlying infrastructure. Coins and tokens looking at long-term stability and operation, such as IP Gold, are discovering alternative blockchains, such as NEM, that offer more scalability, security and enterprise features.

David Grieshaber, CIO at IP Gold Said:

“The proven scalability, support, and security of the NEM blockchain offers the most future-proof platform for the IPG token and IP Gold community. NEM’s peer-to-peer architecture, proof of importance (POI) algorithm, encryption and multisig account support made it the obvious choice for IP Gold’s long-term goals.”

IP Gold is a a digital asset management company that utilizes the blockchain and smart contracts to reduce overheads, better manage the process of acquiring and monetizing its digital assets and coordinate the thousands of complex global transactions in the monetization lifecycle. IP Gold deploys a proven set of value-added transactional services on its digital assets to maximize is revenue generating capabilities and attractiveness to customers.

IP Gold will have the one-time 24-hour sale on Tuesday, July 3, 2018, offering a lucrative 50% bonus, with its Public token event, running through July 11, 2018.

About IP.Gold

IP.Gold operates a scalable, proven IP asset ecosystem that maximizes the monetization of digital assets through their lifecycle while providing asset growth, downside protection, and crypto volatility diversification. The IP.Gold ecosystem delivers many data and other monetization services simultaneously on a digital asset, which maximizes the ongoing revenue model. By integrating blockchain, smart contracts, AI, IP.Gold streamlines the acquisition of digital assets, manages their ongoing value and significantly reduces operational overhead.

Visit the Website: https://ip.gold
Read the Whitepaper: https://ip.gold/#whitepaper
Reddit: https://www.reddit.com/r/IPGold/
Chat on Telegram: https://t.me/ipgoldHQ
Follow on Facebook: https://www.facebook.com/IPGoldHQ/
Medium: https://medium.com/ipgold
Follow on Twitter: https://twitter.com/IpGoldHQ

Media Contact
Name: Media Relations
Location: Seychelles
Email: [email protected]

IP.Gold  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. The IP.Gold token sale is closed to US participants and participants of all countries in which ICOs are illegal.

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: IP.Gold

The post PR: IP Gold Moves to NEM Blockchain and Kicks Off 24-hour Sale appeared first on BitcoinNews.com.

The United States Securities and Exchange Commission (SEC) announced on 2 July 2018 that it has collected a USD 1.6 million fine from two individuals who were illegally selling UBI Blockchain Internet Ltd stocks. This is the result of a coordinated investigation by the Microcap Fraud Task Force and the Cyber Unit.

The two individuals are attorney T J Jesky and business affairs manager Mark F DeStefano, who work for the same law firm. They purchased 72,000 restricted shares of UBI Blockchain Internet Ltd under a registration agreement that they would sell the shares for no more than USD 3.70 each. Instead, they sold the shares for up to USD 48.40 each, breaking the law. They profited USD 1.4 million in a 10-day period centering around New Years Day 2018, near the peak of the cryptocurrency rally that saw Bitcoin hit USD 20,000.

By selling the stocks for more than the agreed upon amount in the registration statement they broke the law, and now they are forfeiting all USD 1.4 million of profits and paying an additional penalty of USD 188,682. They are going to be under a permanent injunction so that they cannot sell any more stocks.

The stock sale ended when the SEC noticed unusual and unexplained market activity, combined with deficiencies in UBI Blockchain Internet Ltd’s SEC filing. The chief of the SEC Enforcement Division’s Cyber Unit, Robert A Cohen, said, “This case is a prime example of why the SEC has warned retail investors to be cautious before buying stock in companies that suddenly claim to have a blockchain business.”

The UBI Blockchain Internet Ltd case is one of many SEC actions against blockchain and cryptocurrency traders, coming at a time that the SEC is tightening its regulatory grip on the industry after declaring that most cryptocurrencies are securities and, therefore, under its jurisdiction.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post SEC Collects $1.6M Fine for Illegal UBI Blockchain Internet Stock Sale appeared first on BitcoinNews.com.

Cryptocurrency mining profits are on the way down, resulting in declining demand for hardware, such as high-end graphics cards. Sources suggest that GPUs could drop by as much as 20% within the upcoming month. 

Mining Hardware Manufacturers Experience Declining Demand

DigiTimes, a premier Asia-based technology news source, has suggested that there has been a large decrease in interest for mining hardware.

Cryptocurrency mining was unarguably one of the largest trends last year, with mining hashrates growing at an exponential rate. Ethereum, one of the most popular mined currencies, had its hashrate grow by over 25 times last year. Additionally, prices for mining hardware rapidly increased, reaching unsustainable prices that were often unaffordable for common consumers and gamers. However, due to waning cryptocurrency prices, coupled with a large increase in mining difficulty, mining growth has ground to a near halt.

Take the example of Ethereum’s hashrate, which shows an eerie correlation between price action and mining interest, in the form of hashrate growth.

Many hardware manufacturers, like Nvidia and AMD, overestimated future demand for graphics cards, leading to an overstock in hardware. Nvidia, the most prominent GPU manufacturer, is reported to have a supply of over one million GPUs in its warehouses.

It would be advantageous for Nvidia to clear their overstock of 1000 series cards before announcing the rumored 1100 series. To clear out such large supplies of hardware, Nvidia will be required to implement major price cuts to entice consumers. Even if price cuts are put in place, sources expect Nvidia to delay their next-generation GPUs, which are expected to be a large improvement on the previous series, until late fourth quarter.

It is also expected for cryptocurrency miners to sell their used graphics cards as mining rigs bite the dust, only building the pressure on firms like Nvidia. As a result, DigiTimes has stated that GPU prices could drop by over 20% over July, bringing prices to figures that resemble the original MSRP.

Mining Profits Dip Due To Declining Crypto Prices And New ASICs

Bitmain, the largest ASIC manufacturer, has pushed out new mining machines for the Equihash and EthHash algorithms, which easily outperform GPU miners. ASICs provide an exponentially higher $/hash rate in comparison with graphics cards, making them an attractive option for miners.

GPU miners have begun to shut off their Equihash and EthHash farms as the first round of these new ASICs go online. This coupled with the 70% decline in crypto prices has led to an unsustainable mining environment, where many smaller farms have found it better to keep their machines offline.

Ran Neu Ner, the host of CNBC Africa’s ‘Crypto Trader’ show, has said that miners have already begun to shut off their mining machines. He said:

“So what’s going to happen is when the miners find that it is not viable for them to mine, what they are going to do is to switch off their machines. And there are going to be fewer machines in the ecosystem… We’ve received some notifications from some of the miners that they have already switched off their machines.”

Despite declining profits, mining is still an essential part of the cryptocurrency ecosystem, bringing security and immutability to the multitude of POW-based blockchains.

 

Image from Shutterstock

The post Crypto Mining Hardware Industry Falters as Profits Dwindle appeared first on NewsBTC.

Key Highlights

• Ripple price jumped higher and broke the $0.4750 and $0.5000 resistance levels against the US dollar.
• Yesterday’s highlighted short-term declining channel was breached with resistance at $0.4600 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair is gaining momentum above the $0.5000 resistance and eyes a test of $0.5250.

Ripple price is gaining upside momentum against the US Dollar and Bitcoin. XRP/USD is placed in a bullish trend above the $0.4750 pivot level.

Ripple Price Trend

Yesterday, there was a minor downside correction in Ripple price from the $0.4820 swing high against the US Dollar. The XRP/USD pair traded lower and tested an important support near the $0.4500 level. Moreover, the price tested the 50% Fib retracement level of the wave from the $0.4250 low to $0.4820 high. Later, the price formed a support and started a fresh upside move above $0.4600.

During the upside move, yesterday’s highlighted short-term declining channel was breached with resistance at $0.4600 on the hourly chart of the XRP/USD pair. More importantly, the price was able to break a crucial resistance at $0.4750. It opened the doors for more gains and the price rocketed above the $0.5000 level. It is now placed well above the $0.5000 resistance and it looks set to break $0.5200. An immediate support is near the 23.6% Fib retracement level of the last leg from the $0.4518 low to $0.5088 high. However, the most important support on the downside is at $0.4750, which was a resistance earlier.

Looking at the chart, the price is gaining upside momentum above $0.5000. Once it clears the $0.5200 barrier, it could accelerate gains towards $0.5500. On the downside, supports are seen at $0.5000, $0.4800 and the $0.4750 pivot level.

Looking at the technical indicators:

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

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now approaching the overbought levels.

Major Support Level – $0.4750

Major Resistance Level – $0.5250

The post Ripple Price Analysis: XRP/USD Surging Above $0.50 appeared first on NewsBTC.

On 29 June 2018, an author claiming to be Satoshi Nakamoto published a website called the ‘Nakamoto Family Foundation‘ that gives details about how a book explaining the origins of Bitcoin may eventually be released.

The author says there is no guarantee that the book will come into existence but published a 21-page paper on the website titled ‘Duality: an excerpt‘ that is essentially a book including in-depth details about the personal interactions and technology that led to Bitcoin. If what the author claims is true, it will be the first time in many years that Satoshi Nakamoto has surfaced publicly.

The author clarifies that Satoshi Nakamoto is not a real name, rather it is a pseudonym. He discusses how there has been a debate about whether Satoshi Nakamoto is a pseudonym for a group of people that developed Bitcoin. He says he spent lots of time alone developing Bitcoin in the beginning but eventually, a group of people consisting of Hal Finney, Gavin Andresen and Mike Hearn became essential collaborators. Therefore, Satoshi Nakamoto could be thought of as a pseudonym for the collective of early developers.

The author took privacy very seriously even though there was no threat in the beginning and, ultimately, as Bitcoin drew attention, privacy ended up being essential. He went to great lengths to mask his IP address with Tor, register and pay for his website domains anonymously, and to use anonymous email accounts. After some time, he says he was no longer needed since a skilled Bitcoin development team was in place, and he had no desire to continue, especially since there were some serious but undisclosed reasons he had to leave for his own safety. He deleted everything linking him to the Satoshi Nakamoto pseudonym, but says he did save a series of files as proof.

Reaction

Mainstream financial technology news outlets seem to be taking in the announcement positively, with both Bloomberg and Fortune publishing stories that indicate acceptance of Duality’s author’s claims. Tech publication Wired reports to have been contacted by someone on behalf of the author but admits that its own initial findings are inconclusive on the issue of his true identity.

However, despite what appears to be a high level of detail in Duality’s content, most of the cryptocurrency community have not been convinced that Satoshi Nakamoto has resurfaced. Skeptics of these sort of claims typically believe that the true Nakamoto would be able to prove ownership and private keys of the 1 million odd dormant Bitcoins supposedly mined by Nakamoto, for example. Craig Wright – himself a past Nakamoto candidate – has also denounced the claim as a fraud, saying that Duality’s author made mistakes in the chronological order of events.

If you are cult worshipping enough, you will ignore that
Nakamotofamilyfoundation cannot get the dates nor technical details correct.

And Mike was after Gavin…

I would say small things, but no, it is not even as good as Scronties lies.

— Dr Craig S Wright (@ProfFaustus) July 1, 2018

Bitcoin.com also reports that amateur stylometrists – who study and analyze patterns in writing style – generally found the writing style of Duality to be incongruent with Satoshi Nakamoto’s past publications and correspondence.

Duality

Satoshi Nakamoto says he was basically one of the only Bitcoin miners for the first year after the launch of Bitcoin, and set up the first Bitcoin mining farm consisting of many computers to rack up as many Bitcoins as possible while difficulty was low. He and Mike Hearn foresaw that eventually specialized mining machines would be developed to mine Bitcoin more rapidly. He doesn’t say how much he mined, but past studies indicate Satoshi Nakamoto mined around 1 million Bitcoins.

Hal Finney was the only reason the Bitcoin network survived according to Satoshi Nakamoto, and he says Finney should be credited with Bitcoin’s success. Finney launched one of the first Bitcoin nodes and for a time his node was the only one receiving incoming connections. Also, Finney worked intensively with Satoshi Nakamoto to fix critical bugs in early versions of the software. It is well known that Finney received the first Bitcoin transaction.

Bitcoin aggregated existing technology, such as proof of work and hash functions, and also considered previous ideas like Hashcash, Digicash, b-money, Electronic Cash, and Bit Gold. Nakamoto was careful to reference previous digital forms of money in the Bitcoin whitepaper to appear more reputable to the cypherpunk community but was also careful to focus on positive aspects rather than past disaster stories. Nakamoto had been in the cypherpunk community for years before creating Bitcoin.

Some interesting tidbits from the Duality paper include that originally, the blockchain was called timechain and that forks were called the branch point. Nakamoto considered using 42 as the block reward in reference to the Hitchhiker’s Guide To The Galaxy’s answer for life, the universe, and everything but thought that would make people take the project less seriously.

Ultimately, Nakamoto says he created Bitcoin so the world would have an anonymous and decentralized currency. The message included in the genesis block, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”, indicates how centralized forms of currency were failing. He says the main problem Bitcoin solved versus past forms of digital currency is the double spend problem via verifying transactions through all nodes on a single immutable ledger.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

The post ‘Satoshi Nakamoto’ is Writing a Book About the Origins of Bitcoin appeared first on BitcoinNews.com.

We.trade, the blockchain-based financial trade platform jointly developed by nine European banks, has completed first live cross-border transactions.

Bitcoin Press Release: INS Ecosystem is on course for launch of its Enterprise Grade Blockchain Platformfor consumer markets with the release of its new cryptocurrency INS wallet.

June 26, 2018. Moscow, Russia:  The team at INS Ecosystem is set to release a new open source cryptocurrency wallet for users worldwide on June 29, reflecting the overall progress being made for its much-anticipated Blockchain Platform for the consumer markets. This is an important milestone for the dedicated development team at INS, which continues to grow and hit the targets set out in the company’s roadmap. June marks the halfway point in the progress being made towards development and launch of the mainnet of the INS enterprise grade Blockchain Platform.

The INS Wallet client is currently available for web, with more platforms (Android, iOS, macOS) to be released later. The user-friendly and highly secure INS Wallet supports INS ERC-20 tokens and ETH, with BTC coming soon. At the first stage (2 weeks after launch), the Wallet will be available to randomly selected users from those who leave their email on the waiting list, as a closed beta test. Registered users are able to make transfers, check balances, receive payments, store funds, and view their transaction history.

After the INS Blockchain Platform is launched, the INS Wallet will support INS and other tokens on INS’s mainnet. The INS Wallet will add more cryptocurrencies and be regularly developed along with the INS Blockchain Platform, to become a universal wallet, blockchain application platform and a distributed applications store.

Peter Fedchenkov, co-founder of INS Ecosystem states:

“In future the INS Wallet will become a gateway to our enterprise grade Blockchain Platform for the consumer markets. It will give users an access point to the INS Blockchain platform and let them interact with the immense range of functions, transactions and activities taking place. We have made steady progress so far with our roadmap targets and this is reflected in the growth of our talented team of developers who have shown real focus in delivering results.”

The Future Of INS

The INS development team is currently working hard to build the next generation high-performance scalable blockchain platform, which incorporates security protocols and smart contracts. The INS Blockchain platform is uniquely positioned and developed to focus on the huge potential of the consumer markets (retail, consumer goods and services, logistics, etc). The enterprise-grade distributed ledger cloud platform will help to make consumer businesses more effective, generate extra revenue sources, and lower costs and risk. Tamper-resistant transactions will be made possible on a trusted business network by securely extending enterprise SaaS and on-premises applications.

INS engineers are now working on the goal of building the most advanced blockchain platform, and will soon start developing APIs, SDK and protocols required for creation of applications for the platform.

Once the INS Blockchain Platform is completed and the mainnet goes live in 2019, it will power various decentralized applications (dApps), developed by the INS team and third-party providers.

About INS Ecosystem:

INS Ecosystem builds the next generation high-performance scalable blockchain platform with security protocols and smart contracts designed with the express purpose to meet an immense business scope with focus on the consumer markets (retail, groceries, consumer products and services etc). The enterprise-grade distributed ledger cloud platform will help to increase business velocity, create new revenue streams, and reduce cost and risk by securely extending supply chain and other enterprise SaaS and on-premises applications to drive tamper-resistant transactions on a trusted business network.

The INS Blockchain framework will support public and private blockchain systems and be able to customize different blockchains for different applications. INS will constantly provide common modules on the underlying infrastructure for different kinds of distributed scenarios (direct-to-consumer marketplace, product authenticity and provenance tracking, supply chain and inventory management, customer loyalty and rewards, trade promo management, trade finance, warranties, etc). Based on specific scenario requirements, INS will continue to develop new common modules.

Visit the Website: https://ins.world/
Read the Whitepaper: https://ins.world/INS-ICO-Whitepaper.pdf
Chat on Telegram: https://t.me/ins_ecosystem
Telegram Announcements: https://t.me/ins_ecosystem_ann
Follow on Twitter: https://twitter.com/ins_ecosystem
Medium: https://blog.ins.world/
Subscribe on Facebook: https://www.facebook.com/ins.ecosystem
Reddit: https://www.reddit.com/r/INS_Ecosystem/

Media Contact:
Name: Svyatoslav Ignatsevich
Location: Moscow, Russia
Email: [email protected]

INS 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.

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: INS

The post PR: INS Wallet Released to Set Up Gateway for INS Blockchain Platform appeared first on BitcoinNews.com.

Tron Price Key Highlights

• Tron has formed an inverse head and shoulders pattern on its 1-hour time frame as a classic reversal signal.
• Price has already broken past the neckline to confirm that an uptrend is underway.
• Tron also seems to have completed a quick retest of the neckline and is resuming the bullish run.

Tron broke above the neckline of its inverse head and shoulders formation to confirm that gains are in the cards.

Technical Indicators Signals

The 100 SMA is still below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. This means that the selloff is more likely to resume than to reverse.

However, the gap between the moving averages is narrowing to signal weakening bearish pressure. This could also be indicative of a new crossover later on, likely drawing more buyers in. The chart pattern spans 0.035 to 0.039 so the resulting rally could be of the same height.

RSI looks ready to turn lower after hitting overbought levels, possibly leading sellers to return. Stochastic is also in the overbought region and turning lower could bring bearish pressure back in. A move below the neckline and moving averages dynamic inflection points could lead to another test of the 0.035 lows.

Market Factors

Tron and its fellow cryptocurrencies are off to a positive start for the quarter, likely as many investors continue to hold out hope for more developments until the end of the year. Besides, Tron has completed its migration away from the Ethereum blockchain as it had a coin burn and released the TRX previously on hold.

With that, more investors could return to Tron as the mainnet appears to have avoided any major glitches. Cryptocurrency demand is also being sustained by risk appetite as traders shift away from stocks and commodities vulnerable to a trade war.

The post Tron (TRX) Price Watch: Short-Term Reversal Formation in Sight appeared first on NewsBTC.

Bitcoin Price Key Highlights

• Bitcoin price has broken above the double bottom neckline and bullish flag to signal upside momentum.
• Price is forming another bullish flag pattern, which might signal a continuation of the climb.
• Technical indicators, however, are showing mixed signals for now.

Bitcoin price confirmed one bullish signal after another and may be poised to continue its rally from here.

Technical Indicators Signals

The 100 SMA completed its crossover above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, the uptrend is more likely to be sustained than to reverse. The moving averages could hold as nearby support levels on a pullback also.

RSI is indicating overbought conditions or that buyers are exhausted and willing to let sellers take over. Turning lower from the overbought region could push bitcoin price to retreat to the dynamic support and area of interest around $6,400 before resuming the climb. Similarly stochastic has reached overbought territory and looks ready to move south, so bitcoin price might follow suit.

Market Factors

Bitcoin has sustained its strong start to the month and quarter, likely buoyed by investor optimism that more positive developments can arise in this latter half of the year. Many still predict that bitcoin price could recover to the $20,000 highs before 2018 ends, with some even projecting that it could reach $50,000.

Others think that the recent rallies are merely a dead cat bounce from the recent strong declines. After all, there appear to be no major catalysts driving the latest moves apart from risk-on flows. Traders seeking higher returns appear to be turning towards cryptocurrencies since stocks and commodities have been vulnerable to trade rhetoric.

Looking ahead, market sentiment could continue to impact bitcoin price movements, although it’s not hard to imagine that headlines on regulation could return to the spotlight.

The post Bitcoin (BTC) Price Watch: Another Bullish Continuation Signal appeared first on NewsBTC.

FOMO Moments

Happy days in crypto land, green across the board with Neo, Nem, Eos and Bytecoin streaking ahead.

Things are looking a little brighter this week in crypto land but we are not out of the woods yet and the bears are still lurking. Markets pumped again yesterday adding a further $20 billion to the market capitalization which is now over $270 billion.

Bitcoin had a 300 point spurt breaking resistance and jumping 4.6% to $6,660 which has pulled the rest of the altcoins up with it. Ethereum has performed even better rising 6.5% to over $480 and even the sluggish XRP shot up 9% to $0.50.

EOS, Cardano, and Iota are all up by double digits at the moment, around 16% on the day. But it is Neo showing the best gains in the top 20 at the time of writing. Coinmarketcap is currently reporting a 18% jump on the day for Neo which is now trading at $37.60. From its June 29 low point of $27.30 Neo has clawed back almost 40% in just four days. The ‘Chinese Ethereum’ of altcoins is still way down on the month though, 34% from the $56 it was trading at this time last month. Against Bitcoin Neo is up 12.3% to 565000 satoshis from 506000 sats this time yesterday.

The Chinese government is keen to embrace blockchain and have recently announced a number of state funded research projects. As the leading smart contracts platform in the People’s Republic Neo is likely to benefit from this, either directly or indirectly. Such low prices for this altcoin have been irresistible for traders and investors that have followed Neo since last year.

Binance takes the majority of Neo trade at the moment with 33% of the total volume. Over the past 24 hours that volume has over doubled from $70 million to $156 million has Neo gets back on track. With a market cap of $2.4 billion Neo is placed just outside the top ten in 12^th position.

Total crypto market capitalization has climbed 7% on the day to $274 billion as $18 billion gets pumped back into the industry. Trade volume has remained a steady $15 billion and the next key level for recovery confirmation is $300 billion.

Neo is not the only winner during today’s Asian trading session, Nem is also flying with an 18% gain, Zcash is up 15%, Bytecoin surging almost 30%, and Aeternity is 16% higher on the day.

More on Neo can be found here: https://neo.org/

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

The post Cryptocurrency Market Update: Neo Leading the Altcoin Resurgence appeared first on NewsBTC.

Bermuda is planning to introduce amendments to the Banking Act in order to provide banking services to local blockchain and fintech companies

An investigative Bloomberg article raising concerns about market manipulation of tether on the Kraken exchange has sparked a social media firestorm.

Key Points

• Bitcoin cash price traded further higher and broke the $750 resistance zone against the US Dollar.
• Yesterday’s highlighted declining channel was broken with resistance near $735 on the hourly chart of the BCH/USD pair (data feed from Kraken).
• The pair is now trading comfortably above the $750 resistance with positive signs for more gains.

Bitcoin cash price is gaining momentum above $750 against the US Dollar. BCH/USD has to clear the $800 barrier to extend the current uptrend in the near term.

Bitcoin Cash Price Support

The past three sessions were positive as bitcoin cash price gained traction and remained well above $700 against the US Dollar. The BCH/USD pair gained momentum and broke the $740 and $750 resistance levels. There was a perfect correction yesterday as the price tested the 50% Fib retracement level of the last leg from the $650 low to $785 high.

The price started a fresh upward wave and cleared a crucial barrier at $750. More importantly, yesterday’s highlighted declining channel was broken with resistance near $735 on the hourly chart of the BCH/USD pair. The pair even succeeded in clearing the $770 resistance. It is currently consolidating above the $770 level with positive signs. On the upside, an initial resistance is at $795, followed by $800. Above this last, the price will most likely trade towards the $850 level in the near term. On the downside, an initial support is the 23.6% Fib retracement level of the last wave from the $716 low to $795 high.

Looking at the chart, the price is positioned nicely above the $750 level. The 50% Fib retracement level of the last wave from the $716 low to $795 high is also at $756 to act as a strong buy zone. Overall, the price remains well supported above $750 for more gains.

Looking at the technical indicators:

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

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is well above the 60 level.

Major Support Level – $750

Major Resistance Level – $800

The post Bitcoin Cash Price Analysis: BCH/USD Gaining Momentum appeared first on NewsBTC.

newsBTC

Bitcoin Cash Price Analysis: BCH/USD Gaining Momentum newsBTC The past three sessions were positive as bitcoin cash price gained traction and remained well above $700 against the US Dollar. The BCH/USD pair gained momentum and broke the $740 and $750 resistance levels. There was a perfect correction yesterday ... Ethereum Vs Bitcoin – Which Is Better Suited For Online Gaming?GlobalCoinReport all 74 news articles »