Day: August 15, 2018

Key Highlights

• Ethereum classic price gained bullish momentum and it broke the $12.50 and $13.40 resistances against the US dollar.
• There is a major bullish trend line in place with support at $13.10 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
• The pair is likely to accelerate higher above the $14.20 and $15.00 resistance levels in the near term.

Ethereum classic price is gaining traction against the US Dollar and Bitcoin. ETC/USD could continue to move higher towards the $15.00 level.

Ethereum Classic Price Trend

After declining towards the $10.50 level, ETC price found a strong buying interest against the US dollar. The ETC/USD pair started a fresh upward move and broke the $12.50 resistance. It even surged above the $14.00 level and settled above the 100 hourly simple moving average. A new weekly high was formed at $14.37 and later the price corrected lower.

It moved below the 23.6% Fib retracement level of the last wave from the $11.88 low to $14.37 high. However, losses were limited near $13.40. The stated $13.20-40 zone was a resistance earlier and now it is acting as a support. Additionally, it coincides with the 38.2% Fib retracement level of the last wave from the $11.88 low to $14.37 high. Moreover, there is a major bullish trend line in place with support at $13.10 on the hourly chart of the ETC/USD pair. Therefore, if the price dips from the current levels, it is likely to find support near the $13.40 and $13.10 levels. The next support is near $12.50 and the 100 hourly SMA.

The chart suggests that ETC price is placed nicely in a bullish zone above $12.50. It could continue to move higher towards the recent high at $14.37. Above this, the price may perhaps test $15.00.

Hourly MACD – The MACD for ETC/USD is moving nicely in the bullish zone.

Hourly RSI – The RSI for ETC/USD is now well above the 50 level.

Major Support Level – $13.10

Major Resistance Level – $14.35

The post Ethereum Classic Price Analysis: ETC/USD Surging, Could Break $15 appeared first on NewsBTC.

Wednesday, August 15 marked the final day of the ChainXchange blockchain convention and conclusion of the main event of the first ever Las Vegas blockchain week. Fortunately, the convention did not end without a remarkable finale, as Apple co-founder Steve Wozniak and the inspiration behind “Molly’s Game” Molly Bloom gave presentations before joining Tone Vays, Dr. Matthew Lange, and Tony DiMatteo to talk blockchain and the technological revolution.

Wozniak passionately shared the story about how his fascination of creating computers (which began at age 8) grew into his role as the creator of the first Apple computer and role as co-founder of Apple. While mostly civil, he made some jabs at Steve Jobs, stating, “That [Steve Jobs] movie, where he came down to the basement and I was coding in the dark, that’s not what happened. I was a king at the [computer engineer]club. He had never been there!” Wozniak has held a paramount importance in pursuing and learning about technology and ideas that fascinate him. Now, he is turning his attention towards blockchain.

Bloom shared the story of her past- her rise to prominence in underground poker and her fall from grace. She even included the names of two celebrities involved in her poker games: Ben Affleck and Leonardo DiCaprio. Following her story, she shared the reflections and insights on the journey, explaining how she had been entirely focused on herself, which fueled her loneliness. This next time around, Molly plans to focus on efforts that go beyond her, that make the lives of others better. From there, she turned her attention to blockchain, “I see blockchain as a brave new world, for transparency and accountability against monopoly and corruption… I want to be a part of that.”

The two were then joined by Lottery.com CEO Tony DiMatteo, food science and technology expert Dr. Matthew Lange, and prominent Bitcoin trader and educator Tone Vays to discuss everything from artificial intelligence to personal philosophy. All five see a remarkable impact of Bitcoin and blockchain in the future, with the exception of Tone Vays, who remains skeptical on blockchain integration beyond the use of Bitcoin.

They shared words of wisdom. Molly Bloom highlighted the importance of meditating and self-work to find yourself before taking on larger initiatives. Vays insisted on maintaining privacy. Wozniak’s words concluded the discussion. He explained his philosophy that happiness is the point of life, which he has boiled down to the equation H = F^3, where H represents happiness and F cubed stands for food, friends, and fun. He followed up his equation with simple advice, “Do the things that make you happy.”

Earlier in the day, cryptocurrency entrepreneur Michael Terpin (who had filed a US$223 million lawsuit against AT&T that morning), lawyer and philanthropist Robert Shapiro, healthcare angel investor Mary Jo Potter, and Wala CEO Trisha Martinez approached the implications for blockchain across different industries. Terpin spoke in regards to sustainability, Shapiro law, Potter healthcare, and Martinez the global unbanked. With the exception of Shapiro, who is still skeptical of the immutability aspects of blockchain in law, all expressed very optimistic outcomes for the technology in respective fields.

Day three marks the conclusion of ChainXchange. Throughout the convention, the following themes resonated:

• Bitcoin is king and here to stay.
• Regulation is imminent and a very good thing for the community.
• Many (useless) altcoins will not survive, but blockchain technology will undoubtedly bring on the fourth technological revolution.
• There are many implications for blockchain to aid the underserved and bridge global inequality.
• This industry is going nowhere.

Key Highlights

• Ripple price corrected higher recently and broke the $0.2660 and $0.2800 resistances against the US dollar.
• There is a new connecting bearish trend line formed with resistance at $0.3010 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair is currently below the 100 hourly SMA, but it remains supported near $0.2660.

Ripple price is showing a few positive signs against the US Dollar and Bitcoin. XRP/USD must stay above $0.2660 to recover further above $0.3000 in the near term.

Ripple Price Support

Yesterday, a decent upside move kicked off and Ripple price moved above the $0.2660 resistance against the US Dollar. The XRP/USD pair even broke the $0.2800 and $0.2850 resistance levels to set the pace for more gains. However, the $0.3000 resistance acted as a major hurdle for buyers. The price failed to settle above $0.3000 and formed a high at $0.3029. Later, it corrected lower below the 23.6% Fib retracement level of the last wave from the $0.2472 low to $0.3029 high.

Moreover, there was a close below $0.2900 and the 100 hourly simple moving average. On the downside, an initial support is near the $0.2751 level. It represents the 50% Fib retracement level of the last wave from the $0.2472 low to $0.3029 high. However, the most important support is near the $0.2660 level, which is a pivot zone. As long as the price is above $0.2660, it could move higher. On the upside, an initial resistance is near $0.2880 and the 100 hourly SMA. Moreover, there is a new connecting bearish trend line formed with resistance at $0.3010 on the hourly chart of the XRP/USD pair.

Looking at the chart, ripple is still supported and it may perhaps make another attempt to move past $0.2900 and $0.3000 in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is about to move back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is flat around the 50 level.

Major Support Level – $0.2660

Major Resistance Level – $0.3000

The post Ripple Price Analysis: XRP/USD Turned Short-term Bullish above $0.2660 appeared first on NewsBTC.

The South Korean government will invest over $880 million next year in order to boost the development of innovative technologies including blockchain.

A cryptocurrency investor in the US has filed a lawsuit against his cell phone service provider AT&T on the grounds of gross security negligence that lead to his personal loss of USD 24 million in crypto.

The plaintiff, California resident Michael Terpin, filed a 69-page complaint with the US District Court in Los Angeles on Wednesday alleging that AT&T not only violated its statutory duties and Privacy Policy commitments but went so far as to willingly cooperate with the phone hacker. Terpin claimed that he was victim to digital identity theft two times in seven months when his digital assets were taken via his cell phone number.

Suspicious circumstances were cited by Terpin regarding the actions of at least one AT&T employee. He alleged that ”insider cooperation with the hacker” took place after a store employee offered out his phone number without verifying the person’s identity or requesting any of his private information. Terpin’s complaint details that his number was then used to break into his cryptocurrency accounts and compares the incident to a hotel providing a thief with a fake ID the key to a room and the safe to steal from the rightful owner.

The legal complaint seeks from AT&T USD 200 million in punitive damage and USD 24 million in compensatory damages.

AT&T responded to the accusations, providing CNBC with a statement reading: “We dispute these allegations and look forward to presenting our case in court.”

Terpin may well have been considered a profitable target by potential thieves due to his work in the cryptocurrency industry. In 2013, he co-founded Bitcoin angel investor group BitAngels, as well as the BitAngels/Dapps Fund.

The cryptocurrency community has recently placed a significant focus on increased security as imperative for increasing adoption levels and seeing market prices recover from a relatively poor performance this year, although in this instance it appears to be only AT&T at fault.

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The post Crypto Investor Sues AT&T for $224M After Phone Hack Losses appeared first on BitcoinNews.com.

Key Highlights

• ETH price traded higher, but it failed to hold gains above $300 against the US Dollar.
• There is a major bearish trend line capping gains with current resistance at $299 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair may dip a few points and it could test the $273 and $271 support levels.

Ethereum price failed to hold gains against the US Dollar and bitcoin. ETH/USD buyers did not succeed in clearing a strong sell zone near $300 and the 100 hourly SMA.

Ethereum Price Resistance

Yesterday, there was a short-term correction initiated above the $260 level in ETH price against the US Dollar. The ETH/USD pair traded above the $275 and $285 levels to gain traction. There was also a break above the 50% Fib retracement level of the last downside move from the $332 high to $249 low. The price spiked above the $300 level, but it failed to settle above the 100 hourly simple moving average.

More importantly, a major bearish trend line capped gains with current resistance at $299 on the hourly chart of ETH/USD. The pair declined and broke the $295 and $292 levels. It also broke the 23.6% Fib retracement level of the last wave from the $249 low to $305 high. On the downside, an initial support is near the $277 level. It represents the 50% Fib retracement level of the last wave from the $249 low to $305 high. Below this, the price could test the $273 and $271 support levels.

Looking at the chart, ETH price is showing a few positive signs above $273, but it has to move past the $300 hurdle. Moreover, buyers need to push the price above the recent high at $305 and the 100 hourly SMA to gain traction.

Hourly MACD – The MACD has moved back in the bearish zone.

Hourly RSI – The RSI is now once again back below the 50 level.

Major Support Level – $271

Major Resistance Level – $299

The post Ethereum Price Analysis: ETH/USD’s Failure Near $300 Explained appeared first on NewsBTC.

The LoT, AI and Blockchain Expo that held in Amsterdam on the end of June has already dropped off its curtain for quite some time. Many visitors who attended the Expo in Amsterdam at that time have noticed a special name when strolling along the booths, and that name is GAEX.

What is GAEX? You find no answer in your dictionary for this name. But recently it appears again in the GAMENODE Conference that held in Moscow on July 20th to 22nd. This time, it dives directly into the deep sea of the blockchain game industry in Russia and positively present itself to the Russian blockchain game industry.

What is GAEX after all?

GAEX, as www.gaex.com, is the Game Asset EXchange for blockchain games powered by BIT GAME Foundation, and this is where the name comes from. As the core part of BIT.GAME Project, GAEX serves blockchain games and its vertical fields. It strives to be the innovator of blockchain game industry by providing technical support and professional service for game projects.

GAEX.com consists of 3 parts, as Trade Centre, Game Centre, and Quiz Centre. GAEXers could not only conduct transactions of crypto currencies or other game assets, but also find more blockchain games, as well as participate in events to get bonus in GAEX.com. All the tokens listed in GAEX.com are blockchain game tokens as well as tokens of strategic partners, including Matrix AI Network, Elastos, Achain, TrustNote, Aurora, IP Chain etc.

So, what makes GAEX distinguished from other exchanges?

GAEX directly helps all game projects overcome 2 main barriers that other exchanges pay the least attention, that are circulation barrier and technical barrier.

Quite a number of blockchain games could only list their tokens in exchanges after waiting for a long time and paying extremely high entrance fees, and even though they succeed with that, they are still confronted with subsequent trouble such as installing a digital wallet, managing the public key and private key, transferring digital tokens etc.

For technical barrier, it takes time and money for game developers to learn blockchain technology. advanced public chains haven’t provided standard API for game developers, also, blockchain games of data-mapping phase need professionals to make risk control.

So here comes the BIT.GAME solution. There is no listing token fee for blockchain game projects when listing tokens in GAEX.com. BIT.GAME Project provide off-chain circulation solution for blockchain games to help them make easier transformation with no previous problems, together with its standard API for game developers to publish game assets and help with professional risk control.

While mentioning GAEX.com, there’s a special feature that should not be missed. That is the Galaxy Mining System. Galaxy is symbolized as BIT.GAME token, BGX, and other tokens of its strategic partners that have all been put into the mining pool. BIT GAME Project is the world’s first project that applies this mining system in games. There are totally 3.8 billion BGX, 22 thousand ELA from Elastos and 1 million MAN from Matrix AI Network in the mining pool at the moment for all GAEXers to mine tokens both when playing blockchain games and when conducting transactions in GAEX.com.

The best part that BIT.GAME presents in the whitepaper is the sense of proportion and tempo of pace. Unlike other projects, they divide blockchain projects into 3 phases, as Data Mapping Phase (asset on-chain), Decentralized Data Phase (data on-chain) and Decentralized Content Phase (content on-chain), and have made specific plans and resolutions for each phase. This strategy layout is much more reliable than those projects who claim to solve all issues in one bite.

For blockchain game progress, GAEX has already listed NASH in GAEX.com. NASH is the crypto currency for the large online multi-player sandbox blockchain game, called Neoworld. It is a 3D virtual world where everything is created by players. “More games will be released very soon in August and September,” said Kelvin Wong, COO of BIT.GAME Foundation, “August is the ‘GAEX Game Month’ for us, it means that quite a number of new token pairs will be launched on GAEX in August, including game token pairs. Meanwhile, we’ve also released the ELA market on GAEX.com in August to celebrate Elastos’s first anniversary.”

“There will be quite a number of blockchain games that would be transplanted onto our strategy partners’ blockchain, as we would like to grow with all members and partners and build the blockchain game ecosystem collectively. We have much confidence on it,” Said Kelvin, “we’ll hold global meetups in several countries to introduce our blockchain game projects and GAEX.com by this year, and welcome more game projects to cooperate with us!”

Just as its slogan says, Strive to Be the Innovator of Game Industry. BIT.GAME is sure to enjoy a bright future. Days will come when BIT.GAME offers great opportunities for game players, technology groups, funding parties, and community members to share dividends brought by blockchain games. Come and join the GAEX family to get free airdrop tokens Now!

Find us here:

GAEX Global: https://t.me/GAEX_com

ANN Channel: https://t.me/BIT_GAME_CHANNEL

Twitter: @GAEX_COM   or @BitGameEN

Youtube: https://www.youtube.com/c/BITGAME

Facebook: https://www.facebook.com/BitGameExchange/

Github: https://github.com/BitGameEN

Weekly Report: https://medium.com/series/18bead082422

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Ripple Price Key Highlights

• Ripple recently busted through a descending trend line to signal that a reversal from the downtrend is underway.
• Price is pulling back to the broken resistance, though, so a retest appears to be taking place.
• If the former resistance holds as support, price could resume the climb to the swing high or the next Fib extension levels.

Ripple price is retesting a broken falling trend line resistance that might hold as a floor and push it to the extension levels next.

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 suggests that the selloff is more likely to resume than to reverse.

However, Ripple also seems to be finding support at this dynamic inflection point just above the broken trend line. If support holds, price could rally back up to the swing high at the 50% extension level or higher. The 61.8% extension is at the 0.3100 level and the 78.6% extension is closer to 0.3200. The full extension is just above the 0.3300 mark.

RSI is on the move down to signal that sellers are in control and could still push price down. A move back below the trend line could be enough to signal that a continuation of the drop is underway. Stochastic is also heading lower but nearing oversold levels to signal bearish exhaustion. Turning higher could bring bullish pressure back in.

XRPUSD Chart from TradingView

Ripple could be due to enjoy more support as it pursues the Chinese market in developing its blockchain-based payments tech. According to an exec in a phone interview with CNBC:

“China is definitely a country and region of interest.”

Earlier this year, Ripple already partnered with Chinese payment service provider LianLian in order to offer faster and less expensive cross-border transactions.

The post Ripple (XRP) Price Watch: Will More Bulls Join In? appeared first on NewsBTC.

As the crypto industry is still in its infancy, a lot of people are still hesitant to join the crowd. One of the main reasons is that crypto space is very risky and another reason is that most people don’t even know how to get started yet. Solution! Simulate the real world crypto trading without putting in your money using Coinseed app.

Coinseed app lets you invest your spare change in crypto and they are announcing a new feature called Play Mode. With this new feature, you can now simulate the real world trading without actually putting in any money.

Here’s how it works. First, take a minute to signup on Coinseed app. This signup process is by far the fastest way to get started with crypto. Then you can switch to the Play Mode and put in “play” money. Now you can simply select the coins to invest and see how your “investment” performs in the real world. That simple. It’s a very effective way to learn about cryptos because real learning happens when you actually do it.

Learning how to invest in crypto takes time and practice just like any other skill. The trick is to make it fun so that you can be little more persistent. Share your learning process with others and learn from your peers as well. You can do this by seeing what other people on Coinseed are investing in real time and you can discuss your ideas on the Coinseed platform as well. Hey, you can even read crypto news there!

In conclusion, a lot of people are intrigued by cryptos but afraid of the high risk. Well, Coinseed’s Play Mode just might make it a little less intimidating. Once you get more comfortable with crypto investing then you can simply switch to Coinseed’s regular mode which will let you invest your real money with the least hassle.

Website:

https://www.coinseed.co/

App:

https://coinseed.app.link/xBZBMmdSnP

iOS – https://itunes.apple.com/us/app/coinseed-grow-your-future/id1298427922?ls=1&mt=8

Android – https://play.google.com/store/apps/details?id=com.coinseed

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

The cryptocurrency investor Michael Terpin is suing the large telecom firm AT&T because his mobile phone was compromised by hackers who stole $24M USD worth of digital assets. Terpin says he was hacked twice in less than a year and employees at AT&T participated in a SIM swap fraud.

Also read: Fivebucks.com: Meet the Freelancer’s Marketplace Powered by Bitcoin Cash

$24 Million in Digital Assets Stolen: Michael Terpin Blames AT&T

Michael Terpin the co-founder of Bitangels says he lost close to $24 million in cryptocurrencies, and he’s blaming the giant communications company AT&T. The 69-page lawsuit filed by the LA-based law firm Greenberg Glusker details that Terpin believes AT&T employees were involved in a SIM swap fraud which cost him the loss of a large number of digital assets. Major telecom services like AT&T, Verizon, and T-Mobile have all been accused of PIN and SIM swap fraud alongside alleged data breaches. According to Terpin an “insider” from AT&T cooperated with a malicious hacker.

“What AT&T did was like a hotel giving a thief with a fake ID a room key and a key to the room safe to steal jewelry in the safe from the rightful owner,” the complaint reads.

According to an email statement,  AT&T says they “dispute the allegations” and they “look forward to presenting their case in court.”

Failure to Adhere to Privacy Commitments

Not only does Terpin want his $24 million back but the investor also wants $200M in punitive damages. Terpin says within pages of the lawsuit that AT&T’s personnel have been accused of SIM swapping fraud in “numerous incidents.” Even though AT&T denies any wrongdoing in this specific case the telecom firm has had a lot of complaints about SIM swap transgressions in the past.

For instance, the New York State Division of Consumer Protection has issued a warning specifically about an “AT&T SIM-card switch scam.” On July 18, 2018, authorities arrested a man from Florida who was allegedly in charge of a giant “multi-state cyber fraud ring” that stole hundreds of thousands of dollars worth of cryptocurrencies. Police say they first heard about the SIM-card gang when a Mom from Michigan caught her son on the phone pretending to be an AT&T employee.

Terpin emphasizes in the complaint that he lost millions because, “AT&T’s willing cooperation with the hacker, gross negligence, violation of its statutory duties, and failure to adhere to its commitments in its Privacy Policy.”

What do you think about Michael Terpin suing AT&T for $224M? Let us know your thoughts on this subject in the comment section below.

Images via Pixabay, Shutterstock, and Twitter. 

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

The post Bitangels Co-Founder Sues AT&T for $224 Million Over Cryptocurrency Hack appeared first on Bitcoin News.

Key Points       

·         Bitcoin cash price recovered further, but it failed to move above the $540 resistance area against the US Dollar.

·         There is an expanding triangle forming with current support at $492 on the hourly chart of the BCH/USD pair (data feed from Kraken).

·         The pair could bounce back once again, but it has to break the $530-540 resistance zone for more gains.

Bitcoin cash price failed near a key resistance at $540 against the US Dollar. BCH/USD has to surpass the 100 hourly SMA to gain bullish momentum.

Bitcoin Cash Price Upside Hurdle

Yesterday, there was a decent recovery in bitcoin cash price above the $500 resistance against the US Dollar. The BCH/USD pair moved higher and broke the $510 and $5220 resistance levels. There was even a spike above the 50% Fib retracement level of the last drop from the $595 high to $473 low. However, the price failed near a key resistance at $540 and the 100 hourly simple moving average.

It started trimming gains and moved below the $525 level. It also broke the 38.2% Fib retracement level of the last wave from the $473 swing low to $541 high. At the moment, the price is trading near the $500-505 support area. There is also an expanding triangle forming with current support at $492 on the hourly chart of the BCH/USD pair. More importantly, the 50% Fib retracement level of the last wave from the $473 swing low to $541 high is acting as a support near $506. As long as the price is above the triangle support and $490, it could bounce once again.

Looking at the chart, BCH price attempted a nice recovery, but failed to clear offers near $540. On the downside, supports are seen at $500, $492, $490 and $480.

Looking at the technical indicators:

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

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently just below the 50 level.

Major Support Level – $492

Major Resistance Level – $540

The post Bitcoin Cash Price Analysis: BCH/USD Upsides Capped Near 100 SMA appeared first on NewsBTC.

A new security flaw doesn’t bode well for experimental cryptocurrency projects looking to use trusted hardware in the near future.

Bitcoin Price Key Highlights

• Bitcoin price recently broke above a short-term descending trend line as an early reversal signal.
• Price reached the $6,650 level then made a pullback to the broken resistance, which lines up with the Fibs.
• Technical indicators also suggest a continuation of the reversal.

Bitcoin price broke above its descending trend line and is making a retest of this area before heading further north.

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 indicates that the selloff is more likely to resume than to reverse. However, the gap between the two is narrowing to indicate that a bullish crossover may be due. Also, the 100 SMA appears to have held as dynamic support just above the broken trend line.

This also coincides with the 50% Fibonacci retracement level on the latest swing low and high. Holding as support could push bitcoin price back up to the swing high or higher. This could also lead to the completion of an inverse head and shoulders, which is a classic reversal signal. This chart pattern would be around $1,000 in height so the resulting rally could be of the same size.

RSI is on the move down, though, so there may still be some selling pressure left. This could lead to a deeper pullback to the 61.8% Fib or even a dip back to the lows. Stochastic is already indicating oversold conditions and could turn higher soon, possibly indicating a return in bullish pressure and a continuation of the reversal.

BTCUSD Chart from TradingView

Bitcoin price encountered another blow when Coinbase CEO Armstrong warned that it may take longer for mass adoption to take place. He explained:

This technology is going through a series of bubbles and corrections, and each time it does that, it’s at a new plateau. People’s expectations are all over the map, but real-world adoption has been going up.

The post Bitcoin (BTC) Price Watch: Trend Line Break and Correction appeared first on NewsBTC.