Month: June 2018

Bitcoin Cash Price Analysis: BCH/USD’s Failed Upside Attempt

boss

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…

Bitcoin (BTC) Price Watch: Potential Reversal Formation?

boss

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

boss

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’

boss

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)

boss

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…

Bitcoin is ‘Amazing’ but Blockchain Is a ‘Bubble’: Steve Wozniak

boss

One of bitcoin’s biggest bulls is calling it: blockchain is a bubble, on par with the dotcom bubble that occurred at the turn of the millennium. Steve Wozniak, who co-founded what is now the world’s largest company, said that he sees parallels between the development of the internet — as well as the hype cycle that accompanied it — and the burgeoning blockchain industry. “It was a bubble, and I feel that way about blockchain,” Wozniak said Tuesday on stage at the NEX technology conference in New York, according to…

EOS Price Bounces as Creator Proposes Scrapping Constitution

boss

The EOS price headlined the large-cap cryptocurrency index on Wednesday after one of its chief architects proposed scrapping its controversial constitution and replacing it with a new one. EOS Price Leads Large-Cap Index Overall, the cryptocurrency markets held relatively stable for the day, with the aggregate market cap dropping by about $1.2 billion over the past 24 hours. Against this backdrop, the EOS price managed to mount a 5.4 percent recovery. At present, EOS is trading at an equivalent of $8.13 on Binance, with a circulating market cap of $7.3…

Risk Flight? Bitcoin ‘Dominance Rate’ Hits 9-Week High

boss

Bitcoin’s (BTC) “dominance rate” hit a 2.5-month high on CoinMarketCap today – a sign that investors are likely switching their money from alternative cryptocurrencies to the number one cryptocurrency by market valuation. The gauge rose to 42.74 percent earlier on Wednesday, the highest level since April 14, and was last seen a tad lower at 42.5 percent. The BTC dominance rate is an indicator that tracks the percent of the total cryptocurrency market capitalization contributed by the leading cryptocurrency. So, a rising dominance rate essentially means the demand for bitcoin is…

Crypto Startup Uphold Moves to Become Licensed U.S. Broker-Dealer

boss

Digital money platform Uphold is looking to become a broker-dealer in the U.S. after acquiring a registered firm called JNK Securities, it was announced Wednesday. The company has now filed with the Financial Industry Regulatory Authority (FINRA) for approval of the change of ownership to become a registered broker-dealer. Ultimately, Uphold hopes to offer security tokens, fractional equities and other exchange services under the supervision of the U.S. Securities and Exchange Commission (SEC) and FINRA, as part of its new securities platform. Uphold’s general counsel, Ben Sherwin, explained the move to…

Bitcoin Price Risks Another Fall Below $6K, Charts Say

boss

After a drop yesterday, bitcoin (BTC) risks another move below $6,000 in the next 24 hours, but it will still likely fare better than other cryptocurrencies. On Tuesday, bitcoin closed (as per UTC) below the immediate support of $6,108 (June 13 low), pouring cold water over the prospects of a corrective rally above a major technical hurdle at $6,425 (April 1 low). The failure to capitalize on early signs of short-term bullish reversal has shifted risk in favor of a break below the $6,000 mark (February low). Even if a drop…