Day: July 29, 2018

Thailand’s largest movie theater chain, Major Cineplex, is reportedly integrating crypto payments to allow customers to pay for its services and products with cryptocurrency, including movie tickets and popcorn. Thailand recently began regulating crypto businesses. This week, the Thai Securities and Exchange Commission started accepting license applications from crypto operators.

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

Largest Cinema Chain in Thailand to Accept Crypto

The largest operator of movie theaters in Thailand is building a digital payment ecosystem in the country through a partnership with Swiss payment company Rapidzpay, the Nation Multimedia recently reported.

Founded in December 1995, Major Cineplex currently lists 143 theaters throughout Thailand on its website, 43 of which are in the greater Bangkok area. The group owns “678 screens, including 7 in Cambodia and 9 in Laos, and plans to expand to 1,000 screens by 2020,” Forbes reported in May last year.

Among the group’s properties is Thailand’s largest multiplex, the Paragon Cineplex, with 16 screens, 5,000 seats, and an Imax theater. It is located in one of Bangkok’s most prestigious shopping malls, the Siam Paragon, known for its luxury goods, floors of restaurants, an aquarium, an art gallery, a large bowling alley, a karaoke center, and a concert hall. It was also at the Paragon Cineplex that Major Group and Rapidzpay signed their partnership agreement.

Merchants can use Rapidz point-of-sale system to accept cryptocurrencies as well as fiat currencies, the Nation detailed. “Major and Rapidzpay will integrate cryptocurrency payments into established payment gateways to make payment for Major products and services more seamless, secure and efficient.”

While Major Group has not announced which cryptocurrencies will be accepted, the coins supported in both the iOS and Android Rapidzpay apps currently include BTC, BCH, and LTC.

Chanya Tamrongweenichai, the director of marketing at Major Cineplex Group, was quoted by the Nation saying the group believes “Rapidzpay will expand to our other businesses and lead the change for Thailand’s financial ecosystem to be cashless,” noting:

You’ll be able to buy any services and products from us, such as movie tickets, popcorn and other different products with cryptocurrency.

Thailand’s Crypto Regulation in Effect

Thailand’s cryptocurrency regulation recently went into effect with the Thai Securities and Exchange Commission (SEC) as the primary regulator of crypto businesses. The SEC announced last month that it will allow seven cryptocurrencies to be traded at exchanges in the country: BTC, ETH, BCH, ETC, LTC, XRP, and XLM.

The SEC’s Secretary-General, Rapee Sucharitakul, was quoted explaining this week that “the SEC is (now) open for application approval for operating a digital asset business, as the Finance Ministry’s announcement on digital asset licenses has come into force,” the Nation further detailed:

Rapidzpay is targeting a million active users in Thailand within its first year by attracting both existing and new crypto-enthusiasts who are looking for a simple and convenient platform to convert between fiat and cryptocurrency.

What do you think of Major Group adding crypto payments? Let us know in the comments section below.

Images courtesy of Shutterstock, Thai SEC, Rapidzpay, and Major Group.

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

The post Largest Movie Theater Chain in Thailand Going Crypto appeared first on Bitcoin News.

Bitcoin Price Key Highlights

• Bitcoin price is currently consolidating in a short-term symmetrical triangle, and the breakout could determine direction.
• An upside break could move all the way up to the next upside barrier around $9,000 while a downside move could hit $7,000.
• Technical indicators are giving mixed signals, but there is evidence of bullish momentum picking up.

Bitcoin price is stuck in consolidation, and the breakout could hit these next upside or downside barriers marked.

Technical Indicators Signals

The 100 SMA is safely above the longer-term 200 SMA on this time frame, which means that the path of least resistance is still to the upside. This basically means that the uptrend is more likely to resume than to reverse. The gap between the moving averages is also gradually widening to signal stronger bullish momentum.

However, stochastic appears to be turning lower without even hitting overbought levels. This indicates that bears are eager to return and push bitcoin price back down. A break below the triangle support could be followed by a decline to the area of interest around the $7,000 mark. This is also around the moving averages’ dynamic inflection points.

RSI is cruising at the middle of its range to reflect current consolidation conditions. Turning higher could bring buyers in and lead to an upside break of the triangle at $8,300. This could then be followed by a rally to the next area of interest around $9,000.

BTCUSD Chart from TradingView

Market Factors

Bitcoin price is holding out for the next set of catalysts, although the previous week did have a few good updates. Investors appear to be pausing due to the SEC decision on bitcoin ETF applications, shelving some for a later date while denying the one from the Winklevoss twins again.

News on stronger institutional interest could be a strong positive catalyst this week while any updates concerning security breaches on exchanges could force a drop. Overall sentiment and reaction to US top-tier events, along with other central bank announcements this week, could also push bitcoin price around.

The post Bitcoin (BTC) Price Watch: Watch These Upside and Downside Barriers appeared first on NewsBTC.

One of the biggest cryptocurrency exchanges in the world, Huobi, is launching peer to peer cryptocurrency for Indian Rupee (INR) trading in India. This provides cryptocurrency traders with a viable solution to buy and sell their crypto with INR, after the Central Bank of India banned all financial institutions from facilitating cryptocurrency related activity. The ban is only for banks, and INR to crypto trading is still legal, as well as crypto to crypto trading.

Huobi says “We do think it’s time that we provide a solution of buying/selling digital assets with INR for all Indian users: Huobi OTC – a proprietary peer-to-peer (P2P) platform that allows users and merchants to trade digital assets with your local currencies. Every registered Indian user of Huobi can log in to https://otc.huobi.com to trade digital assets with INR”. Huobi is providing the incentive of free trades for Indian users when transacting Bitcoin, Ethereum, and Tether (USDT).

This will be much different than a normal cryptocurrency exchange where users can deposit fiat using bank accounts, that is not possible with the INR. Instead, the platform will be a place where users can coordinate to conduct peer to peer deals. Cash in person is probably the best option for Indian crypto traders, and this new Huobi platform could enhance the growth of a network of Bitcoin dealers in India.

Even before this announcement from Huobi, peer to peer crypto trading websites have been popping up to fill the demand for crypto to INR trading now that using banks is no longer an option in India. These include the most popular peer to peer crypto site Localbitcoins, as well as Koinex and Wazirx.

The launch of this crypto exchange in India is part of Huobi’s global expansion plans. Huobi has recently launched exchanges in Australia, the United States, and is planning to open a European exchange headquartered in London and a South American exchange headquartered in Sao Paulo, Brazil.

Follow BitcoinNews.com on Twitter at@BitcoinNewsCom

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

Image Courtesy: Pixabay

The post Huobi Launching Peer To Peer Crypto For Rupee Trading In India appeared first on BitcoinNews.com.

BlackRock’s application of technology, including the Aladdin platform, is the heart of the company’s competitive advantage. Who will be the BlackRock of cryptocurrencies, and where will the next Aladdin come from?

SEC is taking a cautious stand and while Bitcoin (BTC) traders digest the news, it did register decent gains. In the last week for example, it’s up 10 percent adding to week ending July 22 buy demand. This recovery is likely opening up doors for a bullish Q3 2018.

From the News

Perhaps the disapproval of Bats BZX Exchange by the US Securities and Exchange Commission (SEC) to list the Winklevoss Bitcoin ETF dominated headlines over the weekend.  It might also the reason why the price of BTC took a slight hit, retraced a little bit stabilizing later as the market processed the nitty gritties of why the SEC disapproved the application.

Of course, the market instant interpretation was that Bitcoin didn’t stand a chance in the eyes of the SEC. SEC’s mandate is to” prevent fraudulent and manipulative acts and practices” in accordance to Exchange Act Section 6(b) (5). On top of that, they safeguard the interests of the investor. In their application, Bats BZX Exchange argued that the distributed and decentralized nature of Bitcoin trading would protect the system against fraud and or potential market manipulation.

However, considering the fast paced nature of cryptocurrencies trading and Bitcoin in particular, everything relies on technology. With technology, effective solutions would be devised for secure exchanges’ public audit. Additionally, innovative ways of injecting market liquidity which would in turn stabilize price.

Anyhow, what is important is that the SEC is open to the whole thing and not maintaining a fix stance on the whole issue. In their analysis, they found the Bitcoin markets are in “early stages of their development” and as time goes by, “regulated Bitcoin-related markets may continue to grow and develop”. This is overly positive for the market and we project further gains this quarter.

Bitcoin (BTC) Technical Analysis

Weekly Chart

Bitcoin Weekly Chart by Trading View

Looking at the chart, my first look is not only price. As we can see, Bitcoin is in recovery mode. Most importantly for buyers is that week ending July 22 bull candlestick was confirmed last week.

Not only did that validate that double bar bullish reversal pattern from right at main support but the fact that there is spike in volumes reveals a little bit of the general market sentiment.

Volumes hint at the level of demand and demand on the other hand will likely push prices towards our first level of take profits at $10,000. This is as first highlighted in our previous Bitcoin trade plan.

Daily Chart

Bitcoin Daily Chart by Trading View

In line with our previous Bitcoin (BTC) technical analysis, our Bitcoin buys are live. As such, the best thing to do now is to lock in some profits. I would recommend that to be at $7,800, our intermediate support line.

With Bitcoin prices trending above those levels, $7,800 acts as our previous resistance now support and a best price tag to load on dips.

Alternatively, assuming there is a nice follow through, buyers can set their triggers at July 24 highs at $8,500. Nice stops would be at $8,000 with easy first targets at $10,000.

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

The post Bitcoin (BTC) Technical Analysis: SEC’s Bitcoin ETF Rejection Tempering Bulls appeared first on NewsBTC.

Today, Tron (TRX) shall take center stage and many are expectant to hear some price boosting news. Already, Tron (TRX) bulls are setting the pace adding eight percent in the last day and pushing TRX back into the top ten. As that happens, IOTA might continue bouncing off 90 cents buoying bulls.

Let’s see these charts:

EOS Technical Analysis

EOS Daily Chart by Trading View

From the News

• BitPanda avails EOS across Austria—opening up further investments

You can now buy @EOS_io with cash at 400 Post branches and 1300 Post partners throughout Austria. Conveniently redeemable online within seconds, all you need is an email address. #eosio #Bitpanda #BitpandaToGo pic.twitter.com/KP6KmSHi4u

— Bitpanda (@bitpanda) July 27, 2018

• Blocktivity data shows that EOS daily transactions up.
• xDAC, a platform for creating DAOs launches on EOS
• EOS Price stable, down 0.1 percent in the last day

Price Analysis

July 24 bullish candlestick anchors our optimism. Overly, we remain bullish even in the midst of EOS horizontal consolidation. In line with our initial EOS trade plan, unless otherwise, we shall retain a neutral to bearish stand with the view cancelled only after EOS buyers edge past $9.

From the daily chart, $9 is the upper limit of this $2 trade range and is also a buy trigger. In any case, the only way EOS bulls can set the pace for further gains is them closing above $9 while sellers would be back, snapping back in trend once they close below $7.

Technically EOS is trading within a bearish break out pattern following June 22 close below $9 and so, as per our trade emphasis, failure for higher highs mean the past week’s action is but retests.

Litecoin (LTC) Technical Analysis

Litecoin Daily Chart by Trading View

From the News

• You can now buy/sell Litecoin at TransferGo

"There’s strong demand for cryptocurrencies"says Daumantas Dvilinskas, Founder and CEO of TransferGo, a London-based remittance service, has become the first remittance provider to offer a cryptocurrency trading service which include XRP!!!

Listen:https://t.co/ST4v9GFHT2 pic.twitter.com/pvT5SmnbFr

— PandaRippleXRP (@RipplePandaXRP) July 28, 2018

• Register at LocalCoinSwap and trade Litecoin and other cryptos for free
• Germans prefer DASH coin news than Litecoin’s.
• Litecoin (LTC) price stable, down 0.5 percent in the last day

Price Analysis

Our Litecoin trade plan remains constant. Litecoin (LTC) is technically trading within a classic bear break out pattern with June 10 high volume bear candlestick triggering that trade pattern.

So, as before, we take a neutral stand cognizant with the fact that as long as LTC trade within $90 and $70 to the down side, our bears are valid.

For buyers to take control, then we need price gains above our long trigger at $90 with first targets as highlighted in our previous Litecoin (LTC) technical analysis.

Stellar Lumens (XLM) Technical Analysis

Stellar Lumens Daily Chart by Trading View

From the News

• TransferTo collaborates with Stellar to promote international pay and remittance
• SatoshiPay, who have a partnership with Stellar, preparing for an IPO at the LSE
• Lumens (XLM) price up 80 percent in the last month.

Price Analysis

Regardless of last week’s Stellar Lumens accumulation, XLM did register gains. As a matter of fact, it has been a wonderful month for the coin flourishing from good news and consistent high volumes. Now, from prior XLM trade plans, all we need are strong gains above July 25 highs for our conservative buy triggers to hold true.

Alternatively, should we see lower lows; it’s likely that sellers will find a floor at around 25 cents. From there on, buyers can load with stops at 22 cents and first targets as laid out before at 40 cents and 50 cents.

Ideally, conservative should expect high volume break above 36 cents before engaging with first targets at 50 cents.

Tron (TRX) Technical Analysis

Tron Daily Chart by Trading View

From the News

• Justin Sun claims Tron blockchain is 80 percent faster than Ethereum
• Community eager to learn about Tron’s “secret” project
• Binance and three other exchanges will permanently support TRX

#TRX We made a list of all exchanges that support #TRON and classified them into three categories, #TRONICS can check the $TRX migration progress for more details. https://t.co/uWeGFp21fl

— Justin Sun (@justinsuntron) July 29, 2018

• Tron and three other smart contract platforms most active at GitHub according to DP Rating report
• Tron (TRX) outperforms other coins, adds eight percent in the last day

Price Analysis

A day before their TVM launch, Tron is back to the top 10 and up eight percent in the last day. With the decent gains, TRX is poised for more gains in line with July 24 bulls in a perfect effort vs result clash.

While bears are technically in charge, any good news would push prices towards or above our first TRX buy targets of 5.5 cents. Otherwise, and as set out in our last Tron (TRX) technical analysis, any sub-par partnership might see a high volume drop below 3.2 cents and towards 2.5 cents.

Either way, it seems like buyers have an upper hand and today my suggestion is to buy as our previous Tron trade plan dictates with stops at 3.2 cents with first targets at 5.5 cents.

IOTA (IOT) Technical Analysis

IOTA Daily Chart by Trading View

From the News

• Vapers Coin will partner with IOTA in 2018

We are very proud to tell you, that IOTA will be our partner in 2018. pic.twitter.com/hyEwGBYMFG

— VapersCoin (@vaperscoin) July 28, 2018

• Qubic Lite, an imitation of Qubic, releases their first gaming dApp, Tangle Farm
• FCoin now allows for IOTA deposits
• An alternative to web, FogNet combines IOTA and Bluetooth
• IOTA is up one percent in the last day

Price Analysis

As before, 90 cents which doubles up as our main support line and 2018 lows anchors our analysis. Before the weekend, our trade suggestion was to buy IOTA at spot rates with stops at 90 cents as buyers reject further price depreciation forming that triple bottoms.

In any case, we shall take advantage of this revival and like most coins, our first targets which is also a main resistance line and former support at $1.3 shall be our level of interest.

Remember, like most coins under review, IOTA is trending within a break out pattern and so for buyers to be truly in charge according to our last IOTA price forecast, conservatives need to see strong gains above $1.3 or July highs.

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

The post Tron (TRX), EOS, Litecoin, Stellar Lumens, IOTA Technical Analysis: Stellar Lumens UP 80 Percent in July as Tron (TRX) Supporters Tune In For “Secret Project” Announcement appeared first on NewsBTC.

The war of words between the major credit card companies and cryptocurrency users seems to have stepped up another gear over the weekend with the latest slant by a top Mastercard CEO.

During the “New India Lecture” at the Indian Consulate in the US this week, Mastercard’s CEO, Ajay Banga, went on full attack against cryptocurrency calling it “junk”. During his time on stage where he was taking questions from the audience on crypto trade, he went on to say that such an “anonymized” form of currency with such wild fluctuations in the market couldn’t be regarded as a medium of exchange.

The lecture was organized as part of a series hosted by the Consulate in tandem with the US-India Strategic Partnership Forum (USISPF)

Banga wasted little time explaining that cryptocurrencies were responsible for more than 95 percent of illegal online transactions on the dark web.

Bitcoin has been the target of constant attacks, increasing in prominence in the media and popular press, particularly in 2017 when the value of the flagship cryptocurrency soared to USD 20,000 at end of the year. Voices in the financial sector have been more than ready to denounce Bitcoin and proclaim its demise.

In January of this year, a prominent study revealed that less than 1% of Bitcoin transactions was used for illicit activities, disproving one of the many myths surrounding Bitcoin’s prominence in illegal use. Yaya Fanusie, director of analysis for the Foundation for Defense of Democracies’ Center on Sanctions and Illicit Finance (CSIF), conducted the study which was called ‘Bitcoin Laundering: An Analysis of Illicit Flows into Digital Currency Services‘.

The condemnation was flying in the other direction last week when Mastercard services completely crashed out for the day, giving cryptocurrency users plenty of opportunities to remind the credit card giant why so many people started using Bitcoin in the first place. One suggestion reminded  Mastercard that a blockchain based system would solve such issues.

It appears that Mastercard is slowly taking that route as evidenced by the array of blockchain-related patents that they have acquired in an effort show more innovation regarding payments. Also, back in 2016, Mastercard released some preliminary APIs, Blockchain Core API, Smart Contracts API and a Fast Pay Network API.

Their latest patent filed recently would digitize credit cards and store them on a blockchain. The patent application is titled ‘Method And System For Payment Card Verification Via Blockchain’.

Follow BitcoinNews.com on Twitter at @BitcoinNewsCom

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

Image Courtesy: Pixabay

The post Mastercard CEO Calls Cryptocurrencies “Junk” on US Visit appeared first on BitcoinNews.com.

A new study in the UK has revealed up to 3 million people have invested in Bitcoin in the country through online trading platforms.

The research conducted by London investment house IW Capital, and quoted in the British press, also revealed that only 5 percent of those investing had taken any kind of professional advice before taking the plunge. Further, 2.5 million investors made their commitments without fully understanding cryptocurrency.

The Daily Express reported that total of 38% of the survey’s sample of 2,007 respondents claimed that they didn’t understand cryptocurrency and a third thought it was a bubble about to burst, although no data regarding the levels of knowledge among the larger portion of those polled was published.

IW Capital maintains there is an underlying lack of knowledge in British society regarding the subject of cryptocurrency despite the large numbers investing. The firm’s Chief Executive Officer, Luke Davis, also commented:

“It is shocking, but not surprising, to see so much confusion around the topic of cryptocurrency. I do not believe this is a reflection of UK investors’ risk profile, as a positive appetite for alternative finance remains, but to see that investments have been made without the proper financial advice and a lack of facts and education is very concerning.”

Other revelations which came from the survey were that 7 percent of participants thought cryptocurrencies were more valuable than traditional stocks and shares and that only 5 percent of those investing claimed to have gained financially from the experience.

A further report published this week suggests that digital currency prices are largely driven by a phenomenon known as “crowd psychology”. “This field relates to the behaviors and thought processes of both the individual crowd members and the crowd as an entity. Crowd behavior is heavily influenced by the loss of responsibility of the individual and the impression of a universality of behavior, both of which increase with crowd size,” according to Wikipedia.

Meanwhile, the technology behind cryptocurrencies is burgeoning in the UK. The country is known as a driving force in blockchain research and the spread of solutions is being utilized by numerous companies, as the country becomes one of the world’s most significant and dynamic fintech hubs.

Follow BitcoinNews.com on Twitter at @BitcoinNewsCom

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

Image Courtesy: Pixabay

The post New UK Survey: 3 Million Have Invested in Crypto, Few With Advice appeared first on BitcoinNews.com.

Soon to be prime minister, former Pakistan cricketer Imran Khan will be challenged to address the country’s current economic woes, which some have predicted may increase cryptocurrency usage.

An economic crisis is predicted in Pakistan on the eve of a major shift in the political landscape. The Pakistani rupee has depreciated 15 percent against the US dollar in recent months and the country’s net international reserves are now in negative figures. Meanwhile, the demand for dollars for imports exceeds Pakistan’s capacity to earn them through exports.

Amongst this turbulent financial climate, according to Forbes, LocalBitcoins trading volumes are on the increase which is reportedly a reflection of the cryptocurrency markets on the whole in Pakistan, partly fuelled by economic uncertainty and a increased confidence in Bitcoin.

Although Khan’s position is all but sealed, Gareth Leather, the senior Asia economist at Capital Economics suggests it matters very little who actually takes the reigns:

“Whichever party wins Pakistan’s upcoming general election will take over an economy on the brink of a balance of payments crisis. Growth is likely to slow sharply regardless of who wins Wednesday’s election.”

The fact that Pakistan’s Central Bank is curbing access for many Pakistani citizens to US dollars and pressuring fiat currencies means that over time cryptocurrencies will appear more attractive in the way that they have in many other countries with failing economies, such as Venezuela.

One of Pakistan’s first privately generated cryptocurrencies was Pakcoin which has been accepted as a mode of payment in various institutions since its conception over two years ago. In fact, it is said to be the first digital currency accepted by any Asian hospital. Ten retailers now use it in the country so that their customers can pay for goods and services using crypto.

To date, Pakistan has warned banks against ICO’s and cryptocurrencies in general with a statement to that effect in April of this year.

Follow BitcoinNews.com on Twitter at @BitcoinNewsCom

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

Image Courtesy: Pixabay

The post Economic Turmoil In Pakistan Could Free Up Cryptocurrency Adoption appeared first on BitcoinNews.com.