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Bitcoin Extends Rally, Breaching $8000 for First Time Since May – Bloomberg

BloombergBitcoin Extends Rally, Breaching $8000 for First Time Since MayBloombergBitcoin jumped as much as 4.1 percent to as high as $8,016.62 during Hong Kong trading hours, the highest since May, according to composite Bloomberg pricing. Rival tokens…


Bloomberg

Bitcoin Extends Rally, Breaching $8000 for First Time Since May
Bloomberg
Bitcoin jumped as much as 4.1 percent to as high as $8,016.62 during Hong Kong trading hours, the highest since May, according to composite Bloomberg pricing. Rival tokens Ether, Litecoin and Ripple also rallied, according to data compiled by Bloomberg.
Bitcoin leaps above $8 000TechCentral

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Bitcoin price LIVE: BTC hits $8k as ‘green shoots of recovery’ spur steady price rise – Express.co.uk


Express.co.uk

Bitcoin price LIVE: BTC hits $8k as ‘green shoots of recovery’ spur steady price rise
Express.co.uk
Jordan Hiscott, Chief Trader at ayondo markets told Express.co.uk that the recent price rises are proof that the green shoots of recovery are appearing for cryptocurrencies and bitcoin could reach $9,200 in the very near term. He said: “The plethora of


Express.co.uk

Bitcoin price LIVE: BTC hits $8k as 'green shoots of recovery' spur steady price rise
Express.co.uk
Jordan Hiscott, Chief Trader at ayondo markets told Express.co.uk that the recent price rises are proof that the green shoots of recovery are appearing for cryptocurrencies and bitcoin could reach $9,200 in the very near term. He said: "The plethora of ...

Bitcoin Improvement Proposal for Offline Transactions Published

Bitcoin Improvement Proposal (BIP) 174 has been added to the GitHub Bitcoin repository by Bitcoin developer Andrew Chow, creating the technology for partially signed Bitcoin transactions (PSBT), which can be used to send Bitcoin transactions without an internet connection. The co-founder of Blocksteam, Peter Wuille, first proposed the idea behind BIP 174. This BIP has …

The post Bitcoin Improvement Proposal for Offline Transactions Published appeared first on BitcoinNews.com.

Bitcoin Improvement Proposal (BIP) 174 has been added to the GitHub Bitcoin repository by Bitcoin developer Andrew Chow, creating the technology for partially signed Bitcoin transactions (PSBT), which can be used to send Bitcoin transactions without an internet connection.

The co-founder of Blocksteam, Peter Wuille, first proposed the idea behind BIP 174. This BIP has not been voted on yet nor implemented, but could be incredibly useful for Bitcoin users who don’t have easy internet access.

Essentially, PSBT produces the information necessary to sign a transaction without the input having a complete set of signatures. This allows the sender to be offline when sending the transaction since all necessary info will be included in the transaction. Once the sender is connected to the internet, the transaction will show up on the blockchain. Basically, PSBT allows transactions to be sent without the unspent transaction output (UTXO) database, which is currently a requirement.

Additionally, PSBT will allow partially-signed and unsigned Bitcoin transactions to be easily passed between wallets to obtain multiple signatures. As it is now, if signers have different types of wallets this is sometimes not possible because there is no standard format for combining signatures.

Usually, BIPs have to go through an intensive review and debate before being added to Bitcoin’s software. One famous BIP, Segregated Witness (SegWit), caused a debate so intense that a small part of the Bitcoin community split off. The addition of PSBT to Bitcoin’s code will probably be much less controversial than SegWit since it will help increase Bitcoin’s robustness and versatility without fundamentally changing Bitcoin’s protocol.

 

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Ripple Price Analysis: XRP/USD Could Break $0.4300

Key Highlights Ripple price struggled to break the $0.4650 resistance and declined below $0.4500 against the US dollar. There was a break below an ascending channel with support at $0.4550 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently under pressure and it could even break the last

The post Ripple Price Analysis: XRP/USD Could Break $0.4300 appeared first on NewsBTC.

Key Highlights

  • Ripple price struggled to break the $0.4650 resistance and declined below $0.4500 against the US dollar.
  • There was a break below an ascending channel with support at $0.4550 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is currently under pressure and it could even break the last swing low near $0.4300.

Ripple price failed to gain momentum against the US Dollar and Bitcoin. XRP/USD is back in a bearish zone with an immediate support near $0.4300.

Ripple Price Decline

Yesterday, there was a tiny upside move above $0.4550 in Ripple price against the US Dollar. The XRP/USD pair traded above the $0.4600 level, but it failed to move above the $0.4650 resistance area. More importantly, there was a failure near the previous swing high and the 100 hourly simple moving average. Lastly, the 50% Fib retracement level of the last drop from the $0.4946 high to $0.4292 low also prevented gains.

The price started a downside move and broke the $0.4600 support. There was also a break below an ascending channel with support at $0.4550 on the hourly chart of the XRP/USD pair. The pair is now trading well below the $0.4500 level and the 100 hourly SMA. An initial support is near the $0.4400 level, below which the price is likely to revisit the last swing low near $0.4300. Should sellers remain in control, there are chances of more declines below the $0.4300 level in the near term. The next support is at $0.4200 followed by $0.4080.

Ripple Price Analysis XRP USD

Looking at the chart, the price is trading in a bearish zone below $0.4500. To recover, it has to move above the $0.4550 resistance and the 100 hourly SMA. Finally, a push above $0.4650 is a must for an upside acceleration.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is currently moving in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 40 level.

Major Support Level – $0.4300

Major Resistance Level – $0.4550

The post Ripple Price Analysis: XRP/USD Could Break $0.4300 appeared first on NewsBTC.

Bitcoin Price Climbs Back Above $8k to Reach 60-Day High

Bitcoin’s price jumped by $200 within two hours on Wednesday and passed $8,000 for the first time in two months, data shows.

Bitcoin’s price jumped by $200 within two hours on Wednesday and passed $8,000 for the first time in two months, data shows.

Bitcoin Price Climbs Back Above $8000 to Reach 60-Day High – CoinDesk


CoinDesk

Bitcoin Price Climbs Back Above $8000 to Reach 60-Day High
CoinDesk
Bitcoin’s price has climbed back above $8,000 for the first time in two months, data shows. According to CoinDesk’s Bitcoin Price Index, the price of the world’s largest cryptocurrency by market capitalization has jumped by $200 in two hours on
Newsflash: Bitcoin Price Breaks Beyond $8000 to Hit Two-Month HighCCN

all 3 news articles »


CoinDesk

Bitcoin Price Climbs Back Above $8000 to Reach 60-Day High
CoinDesk
Bitcoin's price has climbed back above $8,000 for the first time in two months, data shows. According to CoinDesk's Bitcoin Price Index, the price of the world's largest cryptocurrency by market capitalization has jumped by $200 in two hours on ...
Newsflash: Bitcoin Price Breaks Beyond $8000 to Hit Two-Month HighCCN

all 3 news articles »

Bitcoin Just Hit $8000 — Here’s What’s Pushing It Up – Forbes


Forbes

Bitcoin Just Hit $8000 — Here’s What’s Pushing It Up
Forbes
The bitcoin price has today climbed above the $8,000 mark for the first time since mid-May — leading many to predict a return to the bull run that last year powered bitcoin to almost $20,000. The latest boost for bitcoin comes after a week that saw it

and more »


Forbes

Bitcoin Just Hit $8000 -- Here's What's Pushing It Up
Forbes
The bitcoin price has today climbed above the $8,000 mark for the first time since mid-May — leading many to predict a return to the bull run that last year powered bitcoin to almost $20,000. The latest boost for bitcoin comes after a week that saw it ...

and more »

Euro rebounds as PMI data helps; bitcoin hits $8000 – Reuters

ReutersEuro rebounds as PMI data helps; bitcoin hits $8000ReutersLONDON (Reuters) – The euro headed towards a two-week high on Tuesday after surveys showed eurozone business growth remained robust, although fears of a trade war with the United States k…


Reuters

Euro rebounds as PMI data helps; bitcoin hits $8000
Reuters
LONDON (Reuters) - The euro headed towards a two-week high on Tuesday after surveys showed eurozone business growth remained robust, although fears of a trade war with the United States kept the single currency trapped in narrow ranges.

and more »

G20 Don’t View Crypto as Threat to World Financial Stability

The latest G20 summit, held on Sunday in Buenos Aires, came to the conclusion that cryptocurrency is not a threat to global financial stability. Cryptocurrency is considered a drop in the bucket still, with the collective market capitalization of the entire sector worth less than 1% of the world GDP, even during December 2017’s peak. …

The post G20 Don’t View Crypto as Threat to World Financial Stability appeared first on BitcoinNews.com.

The latest G20 summit, held on Sunday in Buenos Aires, came to the conclusion that cryptocurrency is not a threat to global financial stability.

Cryptocurrency is considered a drop in the bucket still, with the collective market capitalization of the entire sector worth less than 1% of the world GDP, even during December 2017’s peak.

The G20 is a summit attended by leaders of the top 20 economies, responsible for 85% of the world’s gross domestic product (GDP). This includes economies of Argentina, Australia, China, US, UK, South Africa, and the European Union, to name a few.

A report written up about the meeting stated that crypto wasn’t a concern, but could also “deliver significant benefits to the financial system and the broader economy”.

Some of the countries are aware of this, with those most invested in the blockchain sector for the next five years all being G20 members, according to an IDC report.

Despite realizing the potential cryptocurrency has for the world, the G20 did also acknowledge the problems the nascent technology still has.

At the top of their list was concerns such as consumer and investment protection, tax evasion, money laundering, and terrorist financing. The report concluded that while cryptocurrency doesn’t pose a threat, vigilance must be maintained as the sector continues to grow.

The G20 finished its talking point on cryptocurrency by welcoming updates from the Financial Stability Board (FSB) and SSB on risk monitoring of crypto-assets, as well as giving the Financial Action Task Force (FATF) a reminder about its previous intentions.

It made commitments to implement FATF protocol for handling crypto-assets back in March but has asked for clarification. The US, France, and Japan are all in support of a global policy to regulate this asset class due to crypto easily being set across the border, but more information is still needed.

Since cryptocurrencies share little similar characteristics with traditional fiat currency, the G20 has assigned the task force a deadline of October 2018 to clarify its stance on cryptocurrency.

 

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Ethereum Price Analysis: ETH/USD At Risk of More Declines

Key Highlights ETH price failed to move above the $468-469 resistance zone and declined against the US Dollar. There was a break below a major bullish trend line with support at $460 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently at a risk of more declines towards the next

The post Ethereum Price Analysis: ETH/USD At Risk of More Declines appeared first on NewsBTC.

Key Highlights

  • ETH price failed to move above the $468-469 resistance zone and declined against the US Dollar.
  • There was a break below a major bullish trend line with support at $460 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is currently at a risk of more declines towards the next support at $430 in the near term.

Ethereum price is under heavy selling pressure against the US Dollar and Bitcoin. ETH/USD could continue to move down towards the $430 support zone.

Ethereum Price Resistance

Yesterday, there was a minor upside move above $455 in ETH price against the US Dollar. The ETH/USD pair traded above the $465 level, but it faced a strong resistance near the $468-469 zone. Sellers defended more gains and pushed the price below $460. There was a break below the 50% Fib retracement level of the last wave from the $430 low to $473 high.

During the decline, there was a break below a major bullish trend line with support at $460 on the hourly chart of ETH/USD. The pair is now trading well below the $460 support and the 100 hourly simple moving average. It is currently testing the 76.4% Fib retracement level of the last wave from the $430 low to $473 high at $447. If the price trades further lower, it could break the $440 level. Below this, the next stop could be the last swing low at $430. On the upside, there is a connecting bearish trend line formed with resistance at $457 on the same chart.

Ethereum Price Analysis ETH USD

Looking at the chart, the price has to move above the trend line, $457 and $460 to retest the $468-469 resistance area. Finally, a push above the mentioned resistance is needed for a decent recovery above $485.

Hourly MACD – The MACD is slowly reducing its bearish slope.

Hourly RSI – The RSI is currently well below the 40 level with an upward angle.

Major Support Level – $430

Major Resistance Level – $468

The post Ethereum Price Analysis: ETH/USD At Risk of More Declines appeared first on NewsBTC.

A New Bitcoin Wallet Fulfills an Old Privacy Promise – Coindesk

A New Bitcoin Wallet Fulfills an Old Privacy Promise
Coindesk
“From here on out, people can’t say bitcoin is not private anymore.” That’s how veteran developer Adam Fiscor, now CTO and co-founder of the privacy tech startup Zksnacks, described the importance of the Wasabi Wallet, set to debut on August 1.


A New Bitcoin Wallet Fulfills an Old Privacy Promise
Coindesk
"From here on out, people can't say bitcoin is not private anymore." That's how veteran developer Adam Fiscor, now CTO and co-founder of the privacy tech startup Zksnacks, described the importance of the Wasabi Wallet, set to debut on August 1.

Bitcoin Cash Price Analysis: BCH/USD Struggling to Hold $800

Key Points Bitcoin cash price traded towards the $840 level where it faced sellers against the US Dollar. There was a break below an ascending channel with support at $800 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently under pressure and it seems like it could decline

The post Bitcoin Cash Price Analysis: BCH/USD Struggling to Hold $800 appeared first on NewsBTC.

Key Points

  • Bitcoin cash price traded towards the $840 level where it faced sellers against the US Dollar.
  • There was a break below an ascending channel with support at $800 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair is currently under pressure and it seems like it could decline back towards $750.

Bitcoin cash price is back below the $800 support against the US Dollar. BCH/USD is currently at a risk of more declines towards the $750 level.

Bitcoin Cash Price Resistance

Yesterday, we saw a nice upside move in bitcoin cash price above the $800 level against the US Dollar. The BCH/USD pair traded above the $820 level and the 100 hourly simple moving average. However, the price failed to break the $835-840 resistance area. There was also a rejection from the 61.8% Fib retracement level of the last decline from the $890 high to $741 low.

As a result, there was a downside reaction below the $820 support. Sellers gained momentum and there was a break below an ascending channel with support at $800 on the hourly chart of the BCH/USD pair. The pair is now trading well below the $800 level and the 100 hourly SMA. An initial support on the downside is at $770. In the short term, the price may perhaps trade a few points higher towards $800. However, the broken support near $795-800 and the 100 hourly SMA are likely to prevent upsides.

Bitcoin Cash Price Analysis BCH USD

Looking at the chart, the price is clearly at a risk of more losses as long as it is below $800. A major support on the downside is at $750. Should there be a break below this, the price could revisit the $740 swing low.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is back moving in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now well below the 40 level.

Major Support Level – $750

Major Resistance Level – $800

The post Bitcoin Cash Price Analysis: BCH/USD Struggling to Hold $800 appeared first on NewsBTC.

Tron (TRX) Price Watch: Bears Are Back in the Game

Tron Price Key Highlights Tron is still trending lower inside its descending channel visible on the 4-hour chart. Price got rejected at the resistance again and is moving lower to test the Fibonacci extension levels. Technical indicators are giving mixed signals on whether bullish pressure could return or not. Tron price bounced off its test

The post Tron (TRX) Price Watch: Bears Are Back in the Game appeared first on NewsBTC.

Tron Price Key Highlights

  • Tron is still trending lower inside its descending channel visible on the 4-hour chart.
  • Price got rejected at the resistance again and is moving lower to test the Fibonacci extension levels.
  • Technical indicators are giving mixed signals on whether bullish pressure could return or not.

Tron price bounced off its test of resistance and is setting its sights back on the downside targets marked by the Fib extension tool.

Technical Indicators Signals

The 100 SMA is still below the longer-term 200 SMA to signal that the path of least resistance is to the downside. In other words, the downtrend is more likely to resume than to reverse. Both the 100 SMA and 200 SMA have held as dynamic inflection points also.

Price has tumbled below the 38.2% extension and is now testing the 50% level at 0.03428. A break below this could take Tron to the 61.8% extension or 0.03190 or the 78.6% extension at the bottom of the channel or 0.02850. Stronger selling pressure could take it to the full extension at 0.02420.

RSI is heading lower but may hit the oversold region soon, reflecting exhaustion among sellers. Stochastic is already in oversold territory and looks ready to turn higher to signal a pickup in bullish pressure. In that case, Tron might be able to make a quick bounce back to the nearby resistance levels or the area of interest around 0.04000.

TRXUSD Chart from TradingView

Altcoins have had quite a good run int he past week but Tron has been unable to hold on to majority of its gains. Part of this may be due to the lack of follow-through on its mainnet launch or the absence of any major catalysts particular to this digital asset lately.

Bitcoin is raking in most of the demand in this space as the focus now turns to the SEC decision on the ETF. Rejection could lead to a dip for the industry overall but approval could still favor bitcoin in terms of price gains versus its rivals like Tron.

The post Tron (TRX) Price Watch: Bears Are Back in the Game appeared first on NewsBTC.

Bitcoin (BTC) Price Watch: All Eyes on this Area of Interest

Bitcoin Price Key Highlights Bitcoin price busted through its short-term channel and the top of a longer-term descending triangle. Price is now making its way to the area of interest around $8,000 that might make or break the rallies. Strong bullish momentum could take it past this former support region, paving the way for an

The post Bitcoin (BTC) Price Watch: All Eyes on this Area of Interest appeared first on NewsBTC.

Bitcoin Price Key Highlights

  • Bitcoin price busted through its short-term channel and the top of a longer-term descending triangle.
  • Price is now making its way to the area of interest around $8,000 that might make or break the rallies.
  • Strong bullish momentum could take it past this former support region, paving the way for an extended uptrend.

Bitcoin price has climbed enough to reach the area of interest at $8,000 and might need another catalyst to sustain its rally.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. This means that the uptrend is more likely to resume than to reverse. The gap between the moving averages is also widening to reflect strengthening bullish momentum.

However, RSI is slowly making its way down from the overbought territory to reflect a return in selling pressure. This could spur either a quick retest of the broken triangle top around $7,200 or a dip all the way back down to the triangle and channel bottom at $6,500.

Stochastic, on the other hand, appears to have some more room to climb. In that case, buyers still have the upper hand and could push for more gains until the oscillator turns from the overbought region to reflect bullish exhaustion.

BTCUSD Chart from TradingView

Institutional interest and regulation have lifted bitcoin over the past week, and the market attention now turns to the SEC for its decision on the bitcoin ETF. An approval could mean more money flowing into the industry, which could lead to further gains and be enough to sustain the much-anticipated rebound for the year.

On the other hand, rejection could put regulators back in the negative light, likely leading to larger retracements or dips for bitcoin. Dollar demand seems to be taking some hits recently on the US spat with China, although the advanced GDP release later in the week could fuel rate hike expectations again.

The post Bitcoin (BTC) Price Watch: All Eyes on this Area of Interest appeared first on NewsBTC.