Day: August 16, 2018

After Prometheus, there is Yoroi and Icarus. Both of these wallets are light weight and hallmark Cardano’s projects that would ultimately push the coin towards adoption. However, shadowing this are Cardano (ADA) sellers who despite slowing down are still on the forefront targeting ATLs at 7 cents.

From the News

Emurgo is a Japanese company headed by the visionary Ken Kodama, the CEO and co-founder of the Cardano platform. As the business development wing of Cardano, Emurgo has clear objectives. Among the many, their work involves offering support and incubating commercial ventures desirous of changing their respective industries by leveraging on Cardano’s blockchain technology.

It’s along this line that several South East Asia companies as Indonesia’s Hara–a data exchange platform with focus on the agricultural sector and HERO Group, the owners of Hero hypermarket chains based in Indonesia are on board. Encouragingly, there are more projects that are likely to launch on the network. Two days back, Emurgo unveiled Yoroi, IOHK product and one of Emurgo’s flagships.

Yoroi is a Cardano light wallet that the team claim is light weight, fast and most importantly easy to use. Synonymous with Cardano, the wallet adheres to the best industry standard, intuitive and secure. The wallet is for day to day use and is a fork of Icarus. Icarus is a Cardano’s light weight wallet that  run off Google Extension.

Technical Analysis

Weekly Chart

In the past two to three weeks, Cardano (ADA) losses have been so steep shedding 35 percent. So far, the smart contracting token is down 22 percent on a weekly basis and poised for more as long as prices are trading between the coin’s ATL’s at 7 cents and our immediate resistance line at 12 cents.

From previous analysis, 12 cents remains an important level in our price capping gains and defining our potential levels of retest now that ADA’s prices are down 95 percent from 2017 peaks. Regardless, we shall retain a bearish preview. Since this is a bearish break out pattern following week ending Aug 12 break below 12 cents, our first take profits would be at 7 cents.

On the reverse side, any strong gains that will see ADA’s prices trading above 12 cents would likely usher in a wave of buys with first targets at 20 cents.

Daily Chart

Like most coins under our preview, ADA bears are in charge. As long as prices are trading below 12 cents, selling on pull backs has to be the best trading plan. So far, prices are stable and trading within Aug 13 bearish engulfing pattern.

And since recent attempts for higher highs didn’t reverse that bear candlestick losses, the only way ADA bulls would be in charge is if there are gains above 12 cents. Before any of that happens, selling on every high in lower time frames with stops at 12 cents and first targets at ADA’s ATLs at 7 cents is ideal.

 

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 Cardano (ADA) Technical Analysis: ADA is 2 Cents Away From All Time Lows appeared first on NewsBTC.

Nvidia stocks fell following the announcement of lower-than-expected Q3 revenue, due in part to a decrease in cryptocurrency mining

Percentage-wise, crypto’s total market cap is dominated by Bitcoin and Ethereum. But while Bitcoin showed its strength as crypto’s ‘reserve’ currency this week, Ethereum’s marketshare and price took a pounding. Here’s why

This week the developers of the NFC-enabled Bitcoin Cash (BCH) wallet, Handcash, have announced the launch of a new companion application called ‘Handcash Pop.’ The Pop platform provides Handcash users with a point-of-sale (PoS) platform that is tethered to their wallet’s handle so merchants can easily make payment requests for bitcoin cash.

Also read: Bitangels Co-Founder Sues AT&T for $224 Million Over Cryptocurrency Hack

Start Accepting Bitcoin Cash With the Handcash Pop Application

This past February news.Bitcoin.com reported on the BCH wallet called Handcash which launched its beta client for Android mobile phones. Since then the project has seen a lot of development, a revamped user interface, and this past May the blockchain research and development firm, Nchain, announced the acquisition of a majority stake in Handcash. The Handcash development team plans to release the wallet’s iOS version this month and prior to the launch, the organization has revealed a PoS application called Pop.        

“Pop is a lightweight point of sale companion app to Handcash that allows you to create payment requests for your store or pub,” the development team explains.

With a fast setup, no subscriptions and fraud detection systems, there are no excuses not to start accepting Bitcoin Cash and put your business on the map.

Handcash and Pop Enables Bitcoin Cash NFC Payments 

Pop also uses Near Field Communication (NFC) payments as long as the transaction stems from a Handcash wallet. If another wallet is used, the application is compatible with most Bitcoin Cash wallets by utilizing QR code payment requests. Additionally Pop has live fraud protection like the Handcash wallet, and no funds are stored on the device. All funds go directly to a designated Handcash username.

News.Bitcoin.com took a few minutes to test the Pop application. It was fairly intuitive and pretty easy to set up a PoS terminal on our Samsung Galaxy tablet. We simply tethered the Pop platform to a username ‘$Posternut,’ and named our store (Posternut’s Emporium). The application is also protected by a 4-digit PIN in order to utilize the request page and other Pop features. The whole process took less than five minutes to set up and anyone can install Pop on any Android device in order to have their own Bitcoin Cash-powered PoS system.

What do you think about the Bitcoin Cash-centric point-of-sale application Handcash Pop? Let us know what you think about the Pop platform in the comment section below.  

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Images via Shutterstock, Handcash, and Pop.

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Investor and Bitcoin futures trader Jeff Kilburg spoke with CNBC today about his continued enthusiasm for investing in the digital currency, despite lows that, as of late, have rattled some traders.

Bitcoin Futures, Exchange-Traded Funds

“Futures Now” trader Jeff Kilburg, at the Chicago Mercantile Exchange (CME), spoke with CNBC’s Jackie DeAngelis about Bitcoin in the short term yesterday.

To kick things off DeAngelis asked Kilburg “[Are you] still a believer?” To which Kilburg replied:

“I think it’s in the trading range, Jackie. I am still a believer. Until we see what I call significant bearishness, three closes under $6,000. So as of right now I wanna be a buyer at $6,250 as I see it staying in this range as we get clarity on this exchange-traded Bitcoin fund (ETF).”

DeAngelis follows up by asking Kilburg whether or not he predicts a near turnaround coming for Bitcoin, or whether the near future looks more like a seesaw. Kilburg replied:

“I think it’s going to be continued volatility, but it’s really contingent on this ETF.”

Bitcoin Meets More Traditional Markets

The discussion revolves around the pending decisions from U.S. regulators regarding a variety of proposed ETFs.

The Chicago Board Options Exchange (CBOE), a front runner, despite setbacks, has a hearing scheduled for September 30 — though some believe the decisions won’t come through until 2019.

“They’re talking about a new ticker being traded over in Stockholm, but it has to be domestic to really get some wind in the sales. These long term bullish buyers have to understand that people are going to have access globally to an exchange-traded product,” Kilburg said.

He added: “If we do get some absolute, significant determination that this is coming short term — this Fall — out of the U.S. regulators, yeah I think the rally continues. But right now we’re going to continue to chop as people are diving on rumors left and right.”

Although the world is yet to see a Bitcoin ETF, Wall Street’s first small step into the cryptocurrency markets was the launch of the CBOE’s and CME’s Bitcoin futures contracts at the end of last year.

Moving forward, the approval of such ETFs would aid the markets. This would be achieved by providing a safe and liquid way for groups to invest in Bitcoin. Currently, the lack of regulatory clarity and solid investment onramps is in part to blame for the lack of institutional money entering the crypto markets.

Speaking with Bloomberg this week, the Winklevoss twins discussed Wall Street’s hesitation to participate in the cryptocurrency markets, but hinted at future change that will come with time:

“Wall Street is taking cryptocurrencies seriously, however, the vast majority of Wall Street firms are still not participating in the cryptocurrency market, which remains primarily a retail driven market. This will change over time, but it will take time.”

Featured image from Shutterstock.

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Coinbase is looking into creating more secure digital payment platforms to help merchants accept bitcoin, a patent filing reveals.

Even if prices are fair off from seven days ago, still bears are in charge. The daily chart specifically displays a ball park five percent drop over a 24 hours span in coins as Tron, IOTA and EOS. Though we remain bearish, any high volume break above $65 might trigger the next wave of buy pressure in Litecoin while a close below $50 would definitely signal trend resumption and in that case targets at $30 would be ideal.

Let’s have a look at these charts:

EOS Technical Analysis

 

 

Needless to say, EOS prices are in a downtrend as the weekly chart shows. There statistics indicate that EOS prices are down 20 percent week over week.

Unless otherwise, we shall maintain a bearish stand as we wait for prices to print nice higher highs before loading shorts in line with our previous EOS technical analysis.

Considering the stay of price action as the chart shows is held within a tight trading range, we suggest holding off trading until after there are convincing dips and close below $4 our first bear targets or above $6, our intermittent resistance line and Aug 10 highs.

Litecoin (LTC) Technical Analysis

Yesterday’s high volume jut away from main support and immediate support trend line founded our reasons for longs.

Then as statistics shows, there were high trading volumes and a sizeable bar reversing Aug 14 highs but then sellers are back. Even though prices are still held within Aug 14 high lows, yesterday’s four percent clip of bull momentum means traders are back in equilibrium mode.

In line with our previous LTC trade plan, the suggested risk reward ratio makes short entries prohibitive. That’s the sole reason why we have to wait for proper trade set ups before either syncing with sells or taking an optimistic view of price action.

For sells to be valid, then our plan dictates selling when there are high volumes close below $50.

Stellar Lumens (XLM) Technical Analysis

From the News

• Odds are Jed’s platform Stellar will be on focus through Q3 and 4 of 2018. Supportive this assertion are recent developments as Facebook rumors which as rumor point out, the social media figure heads are keen on creating their own cryptocurrency. Besides, there are several products in development ready for launch. That may as well boost price but for now, Stellar Lumens is back to sixth thanks to the past week stagnation along 22 cents.

Technical Analysis

Price action wise, it will be wise to trade according to our set rules and that means waiting for conclusive close above 26 cents for meaningful longs.

On the reverse side, sellers will be back after more than 10 days of apparent XLM strength.

To reiterate, any dip below 18 cents and 2018 lows would likely open doors for further downside with first targets at 15 cents and later 8 cents.

Tron (TRX) Technical Analysis

From the News

• As reported earlier, South Korea’s LINE is listing Tron in their new $10 million crypto investment fund ran by Unblock Corporation. The corporation is LINE’s blockchain subsidiary and as a company with more than 200 million users spread across SE Asia, such news is a boost for the crypto coin experiencing headwinds.

Technical Analysis

Though losses are minimal, TRX is down three percent in the last day, sellers are obviously in the fore front. This projection isn’t far from our initial Tron trade plan and that’s due to bulls failure to build up enough momentum to breach and close above Aug 13 highs of 2.2 cents.

If price action fails to edge past that minor resistance line, then trading with the trend is the best available option for traders.

In that case, any rejection of higher highs at or around 2.2 cents and 2.5 cents provides a perfect entry point to sell on pull backs with first targets at Jan 24 lows.

IOTA (IOT) Technical Analysis

Despite the fledgling markets, IOTA prices are stable oscillating between bullish and neutral in the last day. As the daily chart shows, IOTA prices are still trading within Aug 13 high lows with strong support at 40 cents preventing further losses.

In our previous IOTA trade plans, our second bear targets are at 30 cents. This level would most likely be hit should there be reversals and a break below 40 cents today or over the weekend. Before then, we retain a neutral but aware that sellers are in charge.

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 Stellar Lumens, EOS, Litecoin, Tron, IOTA Technical Analysis: EOS, Litecoin and IOTA At Definitive Supports appeared first on NewsBTC.

David T Laurance has been issued a USD 30,000 penalty from the US Securities and Exchange Commission (SEC) due to his connection with a fraudulent initial coin offering (ICO). He has also been barred from holding officer and director positions, or from trading in and owning penny stocks.

Laurance was the president and CEO of oil drilling company Tomahawk Exploration LLC, with whom he has been employed for eight years. Last year, he launched the ICO for the company’s new token, Tomahawkcoins, saying the funds raised would be used for oil exploration and drilling in California.

The SEC claims that the ICO provided false information during its promotion, including advertising inflated oil production projections and falsely claiming Tomahawk already held drilling permits for the sites in California. Additionally, Laurance was portrayed as an individual with a flawless background, when according to the SEC, he has been found guilty of involvement in deceitful security offerings prior to this conviction.

The ICO failed to raise the USD 5 million as planned but a bounty program was set up by the company to trade Tomahawkcoins for online promotional services. Laurance and Tomahawk have been issued cease and desist orders, while they chose to neither accept or deny the legitimacy of the claims.

The SEC used the opportunity to reissue a warning of scammers working with similar operations, with a press release for the case telling people to be wary of offers with unusually high returns on investment. A useful search tool provided by the SEC is Investor.gov that lists details of a variety of investment professionals.

Despite Laurance’s charges, a recent study indicates that ICOs account for under 2% of securities class action lawsuits. While any number is too high, it is at least beneficial for the industry that this number can be identified and made to face justice.

 

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As cryptocurrency mining profitability continues to suffer due to price decline, many cloud-mining services have been forced to cease operations. Today Genesis Mining announced they would be ending one of their bitcoin mining services.

Genesis Mining Drops Lowest Tier Bitcoin Contracts

Leading cloud-based cryptocurrency mining service Genesis Mining announced this morning via an official blog post that the firm would no longer be supporting its lowest tier Bitcoin mining contracts. The firm cited a combination of Bitcoin’s downtrend and a difficulty increase around “April and May” that “reduced mining outputs.”

Genesis Mining’s contracts include a clause that says if the cloud-mining contract returns less than it costs for Genesis to operate the service, the contact will move into a 60-day default “grace period.” During the grace period, if cryptocurrency prices don’t improve to the point of profitability, the contract will be terminated.

Genesis Offering Users Upgrades to Five-Year Term Packages

Genesis won’t be closing their doors entirely. The firm instead is offering users affected by the cessation of their lowest tier Bitcoin contracts a discounted upgrade to their new “Radiant” plans. Radiant tiers range from $285 for 1 TH/s to as much as $6,875 for 25 TH/s.

The discounted upgrade only applies to the cheapest Radiant “Gold” tier, bringing the total cost of the normally $285 plan, to a more affordable $180. However, the new Radiant contracts require a five-year term, which could deter signups given the uncertainty in the crypto market looking ahead five months, let alone five years.

Other Cloud-Mining Services Share the Same Fate

It’s not just Genesis feeling the sting from the cryptocurrency bear market of 2018. Competitor HashFlare announced in July that they would be ending their SHA-256 Bitcoin mining contracts.

Days later, HashFlare announced via their Facebook that the services will be resumed and contracts would operate on the previous terms. However, the ability to sign up for new contracts remains disabled on their website at the time of this writing.

Could Mining Be the Key to Identifying Bitcoin’s Bottom?

Cryptocurrency mining is a business. Businesses need to remain profitable or risk closure or bankruptcy. With falling cryptocurrency prices – many reaching one-year lows – even hardware miners are at risk of profitability dropping below their operating expenses. Arthur Hayes, BitMex CEO, believes that Bitcoin’s “bottom” will be highly correlated to when Bitcoin miners begin to shut off their ASIC miners to stop operating losses.

Hayes points to the 2014-2015 bear market as an example, stating that “high profile miners went under.” The outspoken CEO, who previously called for Bitcoin to reach $50K by year’s end, says that a crypto-mining colleague estimated that $5,000 is the price at which miners would begin altering operations, and $3,000 to $4,000, miners may have to cease operations altogether.

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Binance LCX has launched a fiat-to-crypto exchange in Liechtenstein, offering trading between Swiss francs and the euro against major digital currency pairs

This article originally appeared on Bitcoin Magazine.

Major U.S. consulting firm BCG has released an in-depth report, which it dubs a “reality check” for the use of blockchain in the commodity trading industry

Blockchain and cryptocurrency isn’t all about profit. Some organizations are using this technology to transform lives, without money as a motivator