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Starbucks Pro-Bitcoin but You Can’t Spend It in Stores Yet

Misleading reports following the Starbucks working partnership with the Bakkt ecosystem stated that Starbucks would be accepting Bitcoin in stores. While this is not on its agenda quite yet, the multinational corporation has expressed its support for helping customers exchange their cryptocurrencies for fiat to spend in its over 27,000 cafes. Partnership with Bakkt Starbucks is the flagship …

The post Starbucks Pro-Bitcoin but You Can’t Spend It in Stores Yet appeared first on BitcoinNews.com.

Misleading reports following the Starbucks working partnership with the Bakkt ecosystem stated that Starbucks would be accepting Bitcoin in stores.

While this is not on its agenda quite yet, the multinational corporation has expressed its support for helping customers exchange their cryptocurrencies for fiat to spend in its over 27,000 cafes.

Partnership with Bakkt

Starbucks is the flagship retailer of Bakkt and has been given the role of developing trusted and regulated working relationships with clients who wish to exchange their Bitcoin to spend in retail stores.

Misleading headlines from outlets such as CNBC that ran with ‘New Starbucks partnership with Microsoft allows customers to pay for Frappuccinos with Bitcoin‘ appear to misunderstand the dynamic of the scheme and assume Bitcoin could directly be used to purchase goods.

A spokesperson for Starbucks spoke to Motherboard to clarify the logistics of its partnership, reaffirming that the exchange is merely a platform to change cryptocurrencies into US dollars that the cafe chain and other outlets can accept. Starbucks did not rule out the possibility of accepting Bitcoin in the future, however, saying it would continue to consider customers wants alongside the changing regulatory space.

Maria Smith, vice president of partnerships and payments for Starbucks, described the corporation’s role as ”pivotal” in the early stages of Bakkt.

Bringing it mainstream

The Bakkt venture is a Wall Street-regulated platform aiming to bring Bitcoin to a mainstream audience, with its founding members including Microsoft and the Intercontinental Exchange (ICE). Bakkt CEO Kelly Loeffler described its purpose as helping ”unlock the transformative potential of digital assets” on an international scale.

A press release from Starbucks Friday notes that the federally-regulated marketplace will, for now, facilitate trades just for Bitcoin to fiat as it is currently the most liquid digital currency.

 

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The post Starbucks Pro-Bitcoin but You Can’t Spend It in Stores Yet appeared first on BitcoinNews.com.

Wall Street To Give Bitcoin Another Boost – Forbes


Quartz

Wall Street To Give Bitcoin Another Boost
Forbes
Wall Street is working on a new platform which will ease the trading, storing and spending digital assets. That’s bullish for Bitcoin and other cryptocurrencies. It will help them gain acceptance among investors, merchants, and consumers. Last week …
Wall Street isn’t boosting bitcoinQuartz
You won’t be able to pay with bitcoin at Starbucks anytime soonMashable
Starbucks Tries to Clean Up Its Bitcoin MessFortune
Bloomberg –Cointelegraph –Ethereum World News (blog) –Fortune
all 194 news articles »

Quartz

Wall Street To Give Bitcoin Another Boost
Forbes
Wall Street is working on a new platform which will ease the trading, storing and spending digital assets. That's bullish for Bitcoin and other cryptocurrencies. It will help them gain acceptance among investors, merchants, and consumers. Last week ...
Wall Street isn't boosting bitcoinQuartz
You won't be able to pay with bitcoin at Starbucks anytime soonMashable
Starbucks Tries to Clean Up Its Bitcoin MessFortune
Bloomberg -Cointelegraph -Ethereum World News (blog) -Fortune
all 194 news articles »

Ripple Price Analysis: XRP/USD Broke Key Support at $0.4270

Key Highlights Ripple price failed to hold an important support at $0.4270 and declined against the US dollar. There is a new connecting bearish trend line formed with resistance at $0.4270 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may correct a few points, but the broken supports at

The post Ripple Price Analysis: XRP/USD Broke Key Support at $0.4270 appeared first on NewsBTC.

Key Highlights

  • Ripple price failed to hold an important support at $0.4270 and declined against the US dollar.
  • There is a new connecting bearish trend line formed with resistance at $0.4270 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair may correct a few points, but the broken supports at $0.4200 and $0.4270 could prevent gains.

Ripple price moved into a bearish zone against the US Dollar and Bitcoin. XRP/USD broke a significant support at $0.4270 to accelerate losses.

Ripple Price Decline

There was a sharp increase in selling pressure above $0.4350 in Ripple price against the US Dollar. The XRP/USD pair failed to move above the $0.4400 resistance area and declined. It broke a few important supports like $0.4270 and $0.4200. The price declined sharply and traded close to the $0.4000 level. A low was formed at $0.4028 before the price started consolidating losses.

An initial resistance on the upside is the 23.6% Fib retracement level of the last drop from the $0.4364 high to $0.4028 low. Above this, the price may trade towards the $0.4200 level, which is an important resistance. Moreover, there is a new connecting bearish trend line formed with resistance at $0.4270 on the hourly chart of the XRP/USD pair. The previous supports at $0.4200 and $0.4270 are likely to act as hurdles for buyers if the price moves higher. Lastly, the 61.8% Fib retracement level of the last drop from the $0.4364 high to $0.4028 low at $0.4236 is also a key resistance.

Ripple Price Analysis XRP USD

Looking at the chart, ripple price made U-turn and it seems like it could decline further below $0.4000. Only a close back above the $0.4250 and $0.4270 levels could push the price back in a positive zone.

Looking at the technical indicators:

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

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently recovering from the oversold levels.

Major Support Level – $0.4000

Major Resistance Level – $0.4195

The post Ripple Price Analysis: XRP/USD Broke Key Support at $0.4270 appeared first on NewsBTC.

Ethereum Price Analysis: ETH/USD Consolidating Above $400

Key Highlights ETH price remained in a tight range above the $400 support level against the US Dollar. Yesterday’s highlighted important bearish trend line is intact with resistance at $410 on the hourly chart of ETH/USD (data feed via Kraken). The pair has to move past $410 and the 100 hourly simple moving average to

The post Ethereum Price Analysis: ETH/USD Consolidating Above $400 appeared first on NewsBTC.

Key Highlights

  • ETH price remained in a tight range above the $400 support level against the US Dollar.
  • Yesterday’s highlighted important bearish trend line is intact with resistance at $410 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair has to move past $410 and the 100 hourly simple moving average to gain upside momentum.

Ethereum price currently consolidating against the US Dollar and bitcoin. ETH/USD is stable above $400, but it is facing many barriers near the $410 level.

Ethereum Price Resistance

There was no major move above the $415 level in ETH price against the US Dollar. The ETH/USD pair traded in a tight range above the $400 level with a few positive moves. Yesterday, there was a minor upside move above the $405 level. However, the upside move faced sellers near the $410-412 area and the 100 hourly simple moving average. The price declined once again, but the $400 level acted as a support.

At the moment, the price is trading above the $400 level with an immediate resistance at $407. It represents the 50% Fib retracement level of the last drop from the $413 high to $400 low. More importantly, yesterday’s highlighted important bearish trend line is intact with resistance at $410 on the hourly chart of ETH/USD. The bearish trend line at $410 is close to the 100 hourly SMA. Moreover, the 76.4% Fib retracement level of the last drop from the $413 high to $400 low is also near $710. Therefore, a break above the $410 level and the 100 hourly SMA is needed for more gains in the near term.

Ethereum Price Analysis ETH USD

Looking at the chart, ETH price is still trading in a range above $400. It may possibly make the next move above $410 if buyers continue to defend $400.

Hourly MACD – The MACD is currently in the bearish zone.

Hourly RSI – The RSI is struggling to move past the 50 level and is currently at 45.

Major Support Level – $400

Major Resistance Level – $410

The post Ethereum Price Analysis: ETH/USD Consolidating Above $400 appeared first on NewsBTC.

EOS, IOTA, Stellar Lumens, Tron, Litecoin Technical Analysis: Altcoins Waiting on Bitcoin (BTC)

As altcoins drag lower syncing with Bitcoin (BTC) drop, fundamentals and technical formations are clearly divergent. Yes, sellers are in charge and are even cancelling the last Stellar Lumens (XLM) bullish attempts of mid-July. However, while we are yet to see proper sell signal below key support lines in Litecoin (LTC), EOS and IOTA for

The post EOS, IOTA, Stellar Lumens, Tron, Litecoin Technical Analysis: Altcoins Waiting on Bitcoin (BTC) appeared first on NewsBTC.

As altcoins drag lower syncing with Bitcoin (BTC) drop, fundamentals and technical formations are clearly divergent. Yes, sellers are in charge and are even cancelling the last Stellar Lumens (XLM) bullish attempts of mid-July. However, while we are yet to see proper sell signal below key support lines in Litecoin (LTC), EOS and IOTA for example, we have a bearish leaning thanks to trend resumption of last week and that strong bearish engulfing candlestick by week ending Aug 5.

Let’s have a look at these charts:

EOS Technical Analysis

From the News

  • You can now withdraw EOS from Binance

Technical Analysis

By dropping one percent yesterday, it means prices are narrowly consolidating along our main support line and sell trigger.

We have been clear in our past EOS technical analysis and what we wait now is a conclusive, clear close below $7. Should that happen today then we shall execute according to our trade plans with targets at $4 now that our bear break out pattern would have been confirmed.

If not and EOS find support, then we shall revert to neutral and see if EOS buyers will muster enough momentum to clear July 31 highs at $7.5

Litecoin (LTC) Technical Analysis

Even with attempts of higher highs on Aug 5, sellers were too overwhelming and yesterday ended up bearish with a long upper wick signaling strong bear pressure.

The way prices are aligned means our shorts are valid and our overall Litecoin (LTC) trade plan is well on course. All we need is a convincing break below $70, the lower limit of our 40 day trade range and perhaps a whole bear candlestick closing below that support line.

From there on, we shall short in line with the trend defined by June 10 bears and aim for $50 in the short term.

Stellar Lumens (XLM) Technical Analysis

By sliding two percent in the last 24 hours, Stellar Lumens (XLM) sellers are edging closer to the upper limit of our former buy trigger now support at 22 cents. Then, as per our laid out XLM trade plans, we anticipate XLM to find support with buyers jumping in.

However, should that not come to pass and sellers breach below it and 20 cents as they confirm the strong bearish engulfing pattern in the weekly chart, then we shall short and sync with the overall trend in the weeklies.

After all, any close below 20 cents might drive XLM prices towards 2018 lows and if bears are consistent, sellers should aim for 15 cents and later 8 cents. On the flip side, for Stellar Lumens (XLM) buyers to reinvent themselves, then the first attempt should be to reverse Aug 4 losses with a remarkably high trading volumes showing participation.

Tron (TRX) Technical Analysis

As Tron (TRX) sellers step up, our first targets at 2.5 cents are likely to be hit within this week.

Remember, week over week, TRX is down two percent in the last day and when we check the weekly chart, odds are we might see a confirmation of that bearish engulfing pattern that broke below July attempts of higher highs.

In any case, my recommendation is to sell TRX with every high with ideal sell zone anywhere between 3 cents-3.5 cents with stops at 4 cents and first targets at 2.5 cents and later 2 cents.

IOTA (IOT) Technical Analysis

 

As expected, news of IOTA Hub is not only monumental from a development perspective but it’s also asserts IOTA valuation going forward.

That’s partly why we saw a sudden injection of buy volumes with IOTA temporarily gaining 20 percent before shrinking back to normal levels along 90 cents as market participants interpret what it meant.

Overly though, we remain bearish and the only time this view shall be cancelled is when we see IOTA buyers thrusting above $1.

In the meantime, chances of lower lows are high.  And once we see a strong close below 90 cents, we shall prepare to short on pull backs with first targets at 65 cents.

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 EOS, IOTA, Stellar Lumens, Tron, Litecoin Technical Analysis: Altcoins Waiting on Bitcoin (BTC) appeared first on NewsBTC.

Ethereum Classic (ETC) Price Watch: Steeper Climb Underway with Coinbase & Robinhood?

Ethereum Classic Price Key Highlights Ethereum Classic price got a big boost after Coinbase and Robinhood added the asset to their trading offerings. Price is trending higher inside an ascending channel on the 4-hour chart and is testing the resistance. A break past this channel top could pave the way for an even sharper rally,

The post Ethereum Classic (ETC) Price Watch: Steeper Climb Underway with Coinbase & Robinhood? appeared first on NewsBTC.

Ethereum Classic Price Key Highlights

  • Ethereum Classic price got a big boost after Coinbase and Robinhood added the asset to their trading offerings.
  • Price is trending higher inside an ascending channel on the 4-hour chart and is testing the resistance.
  • A break past this channel top could pave the way for an even sharper rally, but technical indicators have yet to catch on.

Ethereum Classic is testing the top of its ascending channel and a breakout could lead to a steeper uptrend from the latest catalysts.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA to suggest that the path of least resistance is to the downside. This means that there’s still a chance for sellers to return and allow the channel top to keep gains in check.

RSI is already in the overbought zone to signal that buyers are feeling exhausted at this point. Turning lower could bring sellers in and Ethereum Classic price might follow suit once the oscillator moves south. Similarly stochastic is indicating overbought conditions and looks ready to move back down.

In that case, Ethereum Classic could still pull back to the bottom of the channel around $16 before regaining more bullish traction. This is also near the dynamic inflection points at the moving averages. A break past the top, however, could lead to a sharper price rally.

ETCUSD Chart from TradingView

Ethereum Classic price got a strong boost from news that Coinbase will be adding the digital asset to its tradeable cryptocurrencies, along with bitcoin and other top-traded altcoins. Robinhood also made the announcement and added Ethereum Classic to its options a day ahead of Coinbase.

This could mark the start of stronger volumes and increased activity for this particular cryptocurrency as these platforms have a pretty wide reach and continue to expand their market.

The post Ethereum Classic (ETC) Price Watch: Steeper Climb Underway with Coinbase & Robinhood? appeared first on NewsBTC.

Bitcoin (BTC) Price Watch: Hovering at Make-or-Break Levels

Bitcoin Price Key Highlights Bitcoin price is still in correction territory as it hangs around the area of interest around $6,800 to $7,000. Several inflection points are in confluence on this area, and a bounce could allow the uptrend to resume. However, a break below this key level could mean a continuation of the longer-term

The post Bitcoin (BTC) Price Watch: Hovering at Make-or-Break Levels appeared first on NewsBTC.

Bitcoin Price Key Highlights

  • Bitcoin price is still in correction territory as it hangs around the area of interest around $6,800 to $7,000.
  • Several inflection points are in confluence on this area, and a bounce could allow the uptrend to resume.
  • However, a break below this key level could mean a continuation of the longer-term selloff.

Bitcoin price continues to test the area of interest where bulls are expected to join in and confirm that it has bottomed out.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA still, indicating that the path of least resistance is to the upside. In other words, there’s still a strong chance for the uptrend to resume. However, the gap appears ready to narrow, possibly indicating slower bullish momentum.

Price is also starting to break below the 61.8% Fibonacci retracement level and the $7,000 major psychological mark, which means that bullish energy at that area still isn’t strong enough to let the climb resume. The line in the sand might be the rising trend line connecting the lows since July as a break below this could expose bitcoin price to a drop to the floor at $5,800.

RSI is slowly making its way up after spending some time in the oversold region. This suggests that sellers are taking a break but buyers are also struggling to get back on their feet. Similarly stochastic is making another attempt to pull out of the oversold region to signal that buyers are taking over.

BTCUSD Chart from TradingView

There have been reports confirming that Goldman Sachs is taking a stake on the cryptocurrency industry, reviving hopes of stronger institutional interest. Recall that updates like these have propped up bitcoin price in the past weeks, but it seems that traders aren’t reacting as much to the latest news.

Still, it’s worth noting that Bloomberg reported on how Goldman Sachs is considering a plan to offer custody for crypto funds, which would involve holding securities tied to these assets in order to reduce client risk and guard themselves from potential security attacks on exchanges.

The post Bitcoin (BTC) Price Watch: Hovering at Make-or-Break Levels appeared first on NewsBTC.

Bitcoin Cash Price Analysis: BCH/USD’s Upsides Capped Near $710

Key Points Bitcoin cash price recovered slightly, but it failed to move past $718 against the US Dollar. There is a new connecting bearish trend line forming with resistance at $708 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair may perhaps correct a few points, but upsides are likely

The post Bitcoin Cash Price Analysis: BCH/USD’s Upsides Capped Near $710 appeared first on NewsBTC.

Key Points

  • Bitcoin cash price recovered slightly, but it failed to move past $718 against the US Dollar.
  • There is a new connecting bearish trend line forming with resistance at $708 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair may perhaps correct a few points, but upsides are likely to be capped by $708-710.

Bitcoin cash price is still in a bearish zone below $725 against the US Dollar. BCH/USD recoveries towards the $708-710 zone are likely to face sellers.

Bitcoin Cash Price Resistance

Yesterday, there was a minor upside move above the $700 level in bitcoin cash price against the US Dollar. The BCH/USD pair traded above the $710 level, but upsides were capped. It seems like the 100 hourly simple moving average near $716-718 prevented gains. Moreover, the 61.8% Fib retracement level of the drop from the $735 high to $684 low also acted as a resistance.

As a result, the price moved down once again and traded below the $700 support. It even broke the last swing low at $684 and traded to a new low at $680. At the moment, the price is consolidating losses above the $680 level. An initial resistance is near the 50% Fib retracement level of the last decline from the $718 high to $680 low. Moreover, there is a new connecting bearish trend line forming with resistance at $708 on the hourly chart of the BCH/USD pair. Therefore, if the price corrects higher from the current levels, it could face sellers near the $700, $708 and $710 levels.

Bitcoin Cash Price Analysis BCH USD

Looking at the chart, BCH price is trading in a bearish zone below $710 and the 100 hourly SMA. If sellers push the price below the $680 low, there could be more declines towards $650.

Looking at the technical indicators:

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

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is just above the 40 level.

Major Support Level – $680

Major Resistance Level – $710

The post Bitcoin Cash Price Analysis: BCH/USD’s Upsides Capped Near $710 appeared first on NewsBTC.

For Wall Street, Bitcoin ETF Decision Could Answer ‘$1 Billion’ Question – CoinDesk


CoinDesk

For Wall Street, Bitcoin ETF Decision Could Answer ‘$1 Billion’ Question
CoinDesk
That’s Gabor Gurbacs, director of digital asset strategy at New York-based investment management firm VanEck, the company has been making headlines of late for a proposed bitcoin exchange-traded fund (ETF). No lightweight in the arena, though, the …
Three Points Of Difference Between Bitcoin ETFs And Commodity ETFsInvestopedia (blog)
Bitcoin ETF may be approved, but only in 2019: CanaccordBCFocus
What Will It Take to Get the Bitcoin ETF Approved?CryptoSlate
CCN
all 26 news articles »

CoinDesk

For Wall Street, Bitcoin ETF Decision Could Answer '$1 Billion' Question
CoinDesk
That's Gabor Gurbacs, director of digital asset strategy at New York-based investment management firm VanEck, the company has been making headlines of late for a proposed bitcoin exchange-traded fund (ETF). No lightweight in the arena, though, the ...
Three Points Of Difference Between Bitcoin ETFs And Commodity ETFsInvestopedia (blog)
Bitcoin ETF may be approved, but only in 2019: CanaccordBCFocus
What Will It Take to Get the Bitcoin ETF Approved?CryptoSlate
CCN
all 26 news articles »

Bitcoin (BTC) Price Analysis: Bears Just Won’t Give Up! – Ethereum World News (blog)


Ethereum World News (blog)

Bitcoin (BTC) Price Analysis: Bears Just Won’t Give Up!
Ethereum World News (blog)
Bitcoin has formed lower highs and lower lows to trade inside a descending channel on its 1-hour time frame. Price bounced off the resistance and looks ready to resume the slide to the downside targets marked by the Fib extension tool. Price is already …

and more »


Ethereum World News (blog)

Bitcoin (BTC) Price Analysis: Bears Just Won't Give Up!
Ethereum World News (blog)
Bitcoin has formed lower highs and lower lows to trade inside a descending channel on its 1-hour time frame. Price bounced off the resistance and looks ready to resume the slide to the downside targets marked by the Fib extension tool. Price is already …

and more »

Ethereum Classic Tops $2 Billion to Set New 2018 Price High

The price of ether classic, the cryptocurrency that powers ethereum classic, is on the rise at press time amid news of major exchange listings.

The price of ether classic, the cryptocurrency that powers ethereum classic, is on the rise at press time amid news of major exchange listings.

China: Trader Sues Exchange OKCoin for Failing to Release Bitcoin Cash – Cointelegraph

CointelegraphChina: Trader Sues Exchange OKCoin for Failing to Release Bitcoin CashCointelegraphA Chinese Bitcoin (BTC) investor has sued local crypto exchange OKCoin for allegedly preventing him from getting Bitcoin Cash (BCH) after the BTC fork, loca…


Cointelegraph

China: Trader Sues Exchange OKCoin for Failing to Release Bitcoin Cash
Cointelegraph
A Chinese Bitcoin (BTC) investor has sued local crypto exchange OKCoin for allegedly preventing him from getting Bitcoin Cash (BCH) after the BTC fork, local news agency Legal Weekly reports July 31. The case is reportedly the first legal action in ...

and more »