Day: July 6, 2018

Bitcoin Price Watch: BTC/USD Could Break $6,400

boss

Key Points Bitcoin price struggled to move above the $6,600 resistance area and declined against the US Dollar. Yesterday’s highlighted crucial bullish trend line was breached with support at $6,580 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently heading towards an important support area near $6,420-00. Bitcoin price is facing an increased selling pressure below $6,600 against the US Dollar. BTC/USD may decline further if it fails to move above the $6,560 resistance. Bitcoin Price Analysis Recently, bitcoin price tested the $6,600…

Cardano Price Analysis: ADA/USD Turned Bearish

boss

Key Highlights ADA price failed to stay above the $0.1500 support and declined sharply against the US Dollar (tethered). There was a break below a key bullish trend line with support at 0.1500 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is now trading in a bearish zone below the $0.1500 and $0.1450 pivot levels. Cardano price failed to gain momentum and declined against the US Dollar and Bitcoin. ADA/USD may perhaps continue to move down towards the $0.1300 level. Cardano Price Analysis There…

Crypto Market Loses $13 Billion as Bitcoin, Ripple, and BCH Record 6% Losses

boss

Despite the strong volume of the crypto market, major digital assets including bitcoin, Ripple, Bitcoin Cash, Ethereum, and EOS recorded large losses against the US dollar. While bitcoin demonstrated a slight 1 percent decline in value, Ripple, Bitcoin Cash and EOS, the third, fourth, and fifth largest cryptocurrencies in the global market by valuation, lost six percent of their value against the US dollar on July 6. Strong Volume The volume of bitcoin and ether, the native cryptocurrency of the Ethereum protocol, has increased to $4.9 billion and $1.8 billion…

Ripple Price Analysis: XRP/USD Broke Key Support

boss

Key Highlights Ripple price failed to hold an important support at $0.4750 and declined against the US dollar. Yesterday’s highlighted important bullish trend line was breached with support at $0.4850 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is now trading in a bearish zone and it could decline further towards the $0.4500 support. Ripple price is under selling pressure against the US Dollar and Bitcoin. XRP/USD may perhaps extend the current decline towards the $0.4550 and $0.4500 supports. Ripple Price Decline Yesterday, there…

Bitcoin (BTC) Price Watch: Another Reversal Pattern About to Form?

boss

Bitcoin Price Key Highlights Bitcoin price is still stalling on its potential reversal as it tests another area of interest. A new reversal pattern that could turn out to be an inverse head and shoulders appears to be forming. In that case, bitcoin price might form a shoulder by dipping back to $6,000 before attempting to break the neckline. Bitcoin price appears to be creating an inverse head and shoulders reversal pattern on its 4-hour time frame. Technical Indicators Signals The 100 SMA is still below the longer-term 200 SMA…

Ethereum Price Analysis: ETH/USD Consolidating Above $460

boss

Key Highlights ETH price traded in a range above the $458-460 support zone against the US Dollar. Yesterday’s highlighted crucial bullish trend line is intact with support at $458 on the hourly chart of ETH/USD (data feed via Kraken). The pair may slowly move higher as long as it is above the $458 support level. Ethereum price is trading in a range against the US Dollar and Bitcoin. ETH/USD could gain traction if buyers continue to stop declines below $458. Ethereum Price Support Recently, there were a couple of swing…

Bitcoin Cash Price Analysis: BCH/USD Struggling Below $760

boss

Key Points Bitcoin cash price failed to remain above the $760 support and declined against the US Dollar. There was a break below a key bullish trend line with support at $748 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently holding the $720 support, but it may struggle to gain upside momentum. Bitcoin cash price declined below $760 against the US Dollar. BCH/USD must stay above the $720 support to avoid more declines in the near term. Bitcoin Cash Price Decline There…

YouTube Added as Defendant in Class Action Lawsuit Against BitConnect

boss

According to court documents filed July 3, YouTube has been added as a defendant in a class action lawsuit against BitConnect. The lawsuit was initially filed on January, 24 by six individuals represent by law firm Silver Miller. The claimants state that crypto investment platform BitConnect issued crypto tokens that were unregistered securities, and obtained additional funds through a “wide-ranging Ponzi scheme.” The plaintiffs stated that their personal losses totalled $771,000. BitConnect allegedly used the funds received from new investors to meet the expectations of the existing ones. Per court…

Dutch Speed Trading Firm Enters Crypto Market Despite Regulator’s Warnings

boss

Amsterdam-based speed trader Flow Traders NV has entered the cryptocurrency market despite the warnings of the Dutch Authority for the Financial Markets (AFM) not to buy and sell digital currencies, Bloomberg reported July 5. Europe’s largest trader of exchange-traded funds Flow Traders NV is reportedly the first firm to buy and sell exchange-traded notes based on Bitcoin (BTC) and Ethereum (ETH). According to Bloomberg, such publicly traded notes could broaden the appeal of crypto by making it easier and cheaper to invest. Co-Chief Executive Officer of Flow Traders NV Dennis…

Romania Releases Draft Bill Regulating the Issuance of Digital Currency

boss

The Ministry of Finance of Romania has released a draft Emergency Ordinance, which regulates the issuance of electronic money (e-money), Business Review reported July 5. The draft reportedly describes electronic money as “monetary value stored electronically, including magnetic, representing a claim on the issuer issued on receipt of funds for the purpose of performing payment transactions and which is accepted by a person other than the issuer of electronic money.” According to the document, any legal entity looking to issue e-money must have a share capital of no less than…