Day: June 13, 2018

Sell-Off Over? Bitcoin’s RSI Just Hit Its Lowest Level Since 2016

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Signs are beginning to emerge that bitcoin’s sell-off today may be overextended. After hitting a 70-day low of $6,133 on CoinDesk’s Bitcoin Price Index (BPI), bitcoin’s relative strength index (RSI) hit a level (26.4) last seen in August of 2016, according to data from the Bitfinex exchange. The relative strength index, or RSI, is used for identifying overbought and oversold conditions of an asset by “comparing the magnitude of recent gains and losses over a specified time period to measure speed and change of price.” When such levels are hit, the indicator…

Bitcoin Cash Price Watch | Bitcoin Cash Price Falls to 3-Month Low

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Key Highlights: Bitcoin Cash declined further on Wednesday, falling to a three-month low of $800. BCH/USD has since bounced back to the $820-$830 price range. The cryptocurrency is on a major bearish run, establishing a major support at $820. Bitcoin Cash Sinks Further, Reaches Three-Month Low On Wednesday, Bitcoin Cash continued its decline from earlier this week, even hitting a three-month low of $800 for a brief moment. BCH/USD has since bounced back, now trading in the $820-$830 price range. The cryptocurrency market is strongly bearish right now, and selling…

Bitcoin Price Watch | Decline Continues Below $6500

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On Wednesday morning, Bitcoin continued its decline from earlier this week, falling below the pivotal $6,500 price point. The cryptocurrency is now trading at around $6,400. Its price fell by approximately 17% over the past seven days and by 75% through 2018. Bitcoin Continues Decline, Testing New Support Continuing its decline from this past weekend, Bitcoin price fell below the critical $6,500 level. BTC/USD is now on a bearish trend testing a new support at $6,340. Another bearish trend line formed earlier at its resistance level of $6,550. As a…

Coinbase’s New Index Fund for Investors Is Now Live

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Coinbase has formally launched a new index fund product aimed at large investors. Announced Wednesday in a blog post by product lead Rueben Bramanathan, the Coinbase Index Fund is now “open for investments” with a minimum required investment of $250,000. The fund will give investors access to all of the assets currently listed on Coinbase, which at present include bitcoin, bitcoin cash, ethereum, litecoin and now ethereum classic. The assets will be weighted by their market capitalization, according to the post. Further, more assets can be added if Coinbase lists them…

Surprise KYC: Investors in Tezos’ Troubled ICO Might Finally Be Fed Up

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Tezos, the blockchain project that sought to fix crypto’s broken governance models, is at the center of talk about how to handle decentralized politics – just not in the way its founders had hoped. On Sunday, the Tezos Foundation announced that it would be carrying out know-your-customer and anti-money laundering (KYC/AML) checks on investors who bought into its July 2017 initial coin offering (ICO). At that time, investors, who the foundation calls “contributors,” were not asked to provide any personally identifiable information when they bought $232 million worth of its crypto…

Bitcoin Bulls Eye $6K Bottom After 4-Month Low

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Bitcoin is still looking south, having hit four-month lows today, but the bearish momentum may wane due to short-term oversold conditions, the technical charts indicate. More bears joined the party in the U.S. session Tuesday after the cryptocurrency failed to cross twin resistance at $6,859 (50-hour moving average (MA) and 23.6 percent Fibonacci retracement). As a result, the price fell to $6,370 on Bitfinex today, the lowest level since Feb. 6. At press time, bitcoin was slightly higher at $6,453. The drop to the four-month low has bolstered the already…

EOS’s Experimental Launch Might Be Putting Investor Money at Risk

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Who do you trust with your private key? That’s the question that may be on the minds of EOS token holders, who while incentivized to help the much-anticipated technology finally go live, haven’t yet done so. As EOS is set up to enable self-governance by its users, it’s these individuals and companies who have to make the first move, electing who they’d like to process transactions that occur on the network in an elaborate global vote. But at the time of writing, they haven’t exactly done that. Rather, EOS’s blockchain is locked in…

Quantstamp Under Fire: Buyers Say Faith Shaken In $65 Million Token

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A blockchain project is facing an uproar from community members who say the team has been undermining the value of the token it used to raise millions. The controversy around Quantstamp, maker of a protocol that seeks to decentralize smart contracts auditing, reached a fever pitch late last week, with acrimony spilling into the project’s social channels. There, representatives for the San Francisco-based company, registered in Delaware, took heated questions from token buyers. At issue is Quantstamp’s acceptance of U.S. dollars and ether, rather than its token, QSP – which…