Month: June 2018

Which Way? Bitcoin’s Low Volatility May Force Big Move

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Bitcoin has been squeezed into an increasingly narrow range for more than two weeks and is now experiencing volatility not seen for eight months. As a result, it’s looking likely that bitcoin could soon make a strong move, but the direction it will take when that happens is less than clear. Since May 24, the cryptocurrency has been restricted to a range of $7,000–$7,800 range, which is already very tight, but the price has barely moved in the last 36 hours, likely indicating an indecisive market. Daily volatility, as indicated by…

Bitcoin ETF’s | The Potential Launch Could Create a BTC Rally

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The launch of Bitcoin ETF’s could drive Bitcoin (BTC) price higher. Although the SEC has previously denied permitting Bitcoin ETF trading, two asset management firms have collectively submitted a new application to introduce regulated Bitcoin ETF’s (Exchange-Traded Funds). SolidX Management LLC and New York-based asset manager Van Eck Associates Corp said their new product would cover all the concerns that the SEC has highlighted in their previous denial. “I believe that Bitcoin has emerged as a legitimate investment option, as a type of ‘digital gold’ that may make sense for…

Ethereum Price Watch | ETH/USD Moves Past $600, Upside Break Ahead

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Key Highlights: Ethereum moved past the pivotal $600 price level on Thursday morning, reaching a high of $617.16 on the Coinbase exchange. The $600 level is also seen as a major support, from which a bullish trend line has formed. ETH/USD is heading for an upside break to test a resistance at $615. ETH/USD Heading For Upside Break On Thursday morning, Ethereum price broke past the pivotal $600 level and stayed above that for the past hours, reaching a high of $617.16 on the Coinbase exchange. The $600 price level…

Bullish Signals Hint at Bitcoin Price Breakout

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Still stuck in a narrowing price range, BTC could soon rise to resistance above $8,000 if the bulls are able to leap the 50-week moving average hurdle. As of writing, the cryptocurrency is trading at $7,770 on Bitfinex, having been stuck in a narrowing price range (pennant) for months now. Defense of $7,000 last week and the 9.3 percent rise since then have neutralized the immediate bearish outlook and got investors talking about a possible rally to pennant resistance at $8,870. While that target may appear far-fetched, it may be put to…

Bitcoin Cash Price Watch | BCH/USD Breaks Below Support, Drops To $1,110

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Key Highlights: On Wednesday, Bitcoin Cash broke below yesterday’s support of $1,125, now approaching the $1,110 territory. Earlier in the day, BCH/USD reached a high of $1,160 before a major cryptocurrency selloff occurred. BCH/USD managed to recover from the latest selloff, now forming a bullish trend line after holding support at $1,090. Bitcoin Cash Fails to Hold Support On Wednesday morning, Bitcoin Cash broke below yesterday’s support of $1,125, now trading in the $1,110 territory and holding support at $1,090. However, the price decline didn’t last long to reach a…

Crypto Bears and Crypto Bulls

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Crypto bears and crypto bulls – we know ’em, we love ’em, well, some of them at least. Shots have been fired in both directions, and the battle lines have been drawn. Who will come out on top? This is crypto bears vs. crypto bulls. Crypto Bears and Crypto Bulls First, what is a crypto bear or a crypto bull? These are some of cryptocurrencies’ base terms that you’ve no doubt seen getting thrown around on the market. At their simplest, a crypto bear is a downer on cryptocurrencies, and…

Bitcoin Price Watch | BTC/USD Tests $7,500 Support

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Bitcoin Price Watch: On Wednesday morning, Bitcoin went on a steady bullish run which took BTC/USD to as high as $7,700. However, BTC/USD is currently on the decline due to a major selloff, testing a major level at $7,500. This downward movement may be crucial in determining whether Bitcoin price will see further pullbacks and drop down to $7,000. Bitcoin Testing Major Support Following this morning’s bull run to a high of $7,700, Bitcoin has now pulled back and is now testing a major support level at $7,500. The cryptocurrency…

Huobi to Offer $166 Million Prize for Own Blockchain Creation

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Cryptocurrency exchange Huobi announced Wednesday that it plans to allocate 30 million of its Huobi Tokens (HT) to fund the creation of the company’s own open-sourced blockchain protocol. The fund, currently worth around $166 million based on CoinMarketCap data, will be used to launch the Huobi Chain Project, which is also aimed to establish a decentralized autonomous organization (DAO) on top of the proprietary blockchain, the company said at a press conference in Singapore. The blockchain would serve as a platform for users to participate in token fundraising events (ICOs),…

Bitcoin “Bubble Bursting” Thesis | Joost van der Burgt Shares his Analysis

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Is Bitcoin (BTC) a real asset or bubble? This question is a continuous discussion. Economists and market pundits have been closely watching Bitcoin mania; some of them are comparing it to teh Dutch Golden Age Tulip Mania, while a few are showing confidence in its future fundamentals. The debate over the shocking Bitcoin price movement and its ability to exist for the long-term hasn’t settled up. Until now. Joost van der Burgt, policy advisor at Federal Reserve Bank of San Francisco, however, believes that Bitcoin is a bubble which is…

Microsoft Bought GitHub | Will it Hurt Monero (XMR)?

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Microsoft Bought GitHub: Even from a company as technologically advanced as Microsoft, the announcement that it acquired GitHub on the morning of June 4th took a lot of people by surprise. In the past, Bill Gates, founder of Microsoft, has critiqued the crypto sector, which is why many are skeptical of this purchase. It’s not that Microsoft is a bad company, it’s that many are worried about the effect this acquisition will have. Specifically, on virtual currencies like Monero (XMR).  In this article, you will see where this fear originated from.  Microsoft…