Key Points Bitcoin cash price moved a few points above $700, but it failed to gain momentum against the US Dollar. This week’s highlighted important bearish trend line was broken with resistance at $708 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair failed to gain traction and it could move back below $700 in the near term. Bitcoin cash price failed to recover above $720 against the US Dollar. BCH/USD may perhaps resume its slide for more losses below $700. Bitcoin Cash Price Support…
Day: June 28, 2018
Bitcoin (BTC) Price Watch: Potential Reversal Formation?
Bitcoin Price Key Highlights Bitcoin price could be forming a short-term inverse head and shoulders pattern. Price has been moving sideways for the past few days as bulls try to keep it afloat. Technical indicators, however, seem to be favoring further declines in bitcoin price. Bitcoin price seems to be fighting to stay afloat, but technical indicators suggest that further losses are in the cards. Technical Indicators Signals The 100 SMA is still below the longer-term 200 SMA on the 1-hour chart to signal that the path of least resistance…
Decentralizing Popular Dapps Isn’t Just a Scaling Problem
It’s no secret that building large-scale, fully decentralized applications is a challenge, but it turns out the hurdles have to do with more than just scaling. Decentralized application or “dapp” developers frequently hit roadblocks, since ethereum – the go-to platform so far in dapps’ short history – can process only around 25 transactions per second, and the more transactions the network is asked to handle, the more each one costs the user. These limitations on transaction throughput are commonly referred to as “scaling” limitations, and everyone from the casual dapp user…
Bitcoin Price Moved by ‘Silent Majority,’ Not Twitter ‘Thought Leaders’
The louder they are, the less influence they have. This seems to be the conclusion drawn by Feng Mai, a researcher at the New Jersey-based Stevens Institute of Technology, after conducting a study investigating the influence of social media on the bitcoin price. According to Mai the comments and tweets of social media users considered highly active were found to have an insignificant impact on the bitcoin price. However, the infrequent users of social media were found to have a bigger impact on the bitcoin price, sometimes moving the needle…
Bitcoin Cash (BCH) Technical Analysis (June 28, 2018)
There is a supremacy “war” going on between BTC and Bitcoin Cash but the common thing is that both are bleeding. At current prices, $600 is but some ticks away and that means caution since there have been reaction at this level when we point out Bitcoin Cash daily price chart. Today, I propose staying neutral with the usual bearish skew. That’s unless there is a spike breaking above $850, our immediate resistance line which also doubles up as a bull trigger line. From the News So, just like big…