Day: July 12, 2018

Riyadh City Picks IBM to Integrate Blockchain in Government Services

boss

The municipality of Saudi Arabia’s capital city Riyadh has partnered IBM to facilitate government services and transactions on a blockchain. Under terms of the partnership, early blockchain-tech mover IBM will work with Elm Company, the municipality’s technology partner, to develop an implementation strategy to plug government transactions and commercial services to citizens and residents on a blockchain, ITP.net reports. The city administration, IBM and Elm will further sync with key government departments and private and semi-government sectors over a number of workshops to determine the services that can be transformed…

Ethereum Classic Price Analysis: Can ETC/USD Break This?

boss

Key Highlights Ethereum classic price declined recently and traded as low as $15.67 against the US dollar. There is a major bearish trend line formed with resistance near $16.35 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair may perhaps struggle to break the $16.40 and $16.60 resistance levels in the near term. Ethereum classic price is in a bearish trend against the US Dollar and Bitcoin. ETC/USD has to surpass the $16.60 resistance to start a decent recovery. Ethereum Classic Price Decline There were…

Ripple Price Analysis: Can XRP/USD Recover Above $0.4500?

boss

Key Highlights Ripple price is trading in a range below a key resistance at $0.4500 against the US dollar. Yesterday’s highlighted major declining channel is still active with resistance at $0.4480 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to clear the $0.4480 and $0.4500 resistances as long as it is above $0.4380. Ripple price is consolidating in a tiny range against the US Dollar and Bitcoin. XRP/USD faces tough resistances near $0.4500 and $0.4520 for a decent recovery. Ripple Price Resistance…

Ethereum Price Analysis: ETH/USD Facing Key Hurdle

boss

Key Highlights ETH price recovered a few points, but faced sellers near $445 against the US Dollar. Yesterday’s highlighted important bearish trend line is intact with resistance at $447 on the hourly chart of ETH/USD (data feed via Kraken). The pair may continue to struggle as long as it is below the $445 and $448 resistance levels. Ethereum price is under pressure against the US Dollar and Bitcoin. ETH/USD must move higher above $448, if not, there is a risk of more losses. Ethereum Price Upside Hurdle After a major…

Bitcoin Cash Price Analysis: BCH/USD Consolidating Above $680

boss

Key Points Bitcoin cash price remained in a range and consolidated above the $680 support against the US Dollar. Yesterday’s highlighted key bearish trend line is intact with current resistance near $720 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair remains at a risk of more losses as long as it is below the $710 and $720 resistance levels. Bitcoin cash price is struggling to move above $710 against the US Dollar. BCH/USD is currently consolidating and it remains at a risk of further…

NEO Price Watch: Reversal Pattern Confirmation

boss

NEO Price Key Highlights NEO recently formed a head and shoulders pattern to signal that a downtrend is underway. Price has since broken below the neckline around $36 to confirm that bears have the upper hand. NEO has more room to go south since it could slide by the same height as the pattern and technical indicators suggest so. NEO broke below the neckline of its head and shoulders pattern while technical indicators confirm the downtrend. Technical Indicators Signals The 100 SMA has crossed below the longer-term 200 SMA to…

Bitcoin (BTC) Price Watch: Still Fighting to Stay Afloat

boss

Bitcoin Price Key Highlights Bitcoin price is still hovering at the area of interest visible on the 4-hour time frame as buyers and sellers battle it out. A small consolidation pattern can be seen at current levels, and this could be seen as a bearish continuation signal. If any of the retracement levels hold, an inverse head and shoulders reversal pattern could form. Bitcoin continues to hold on to the area of interest, still deciding whether to make a bounce and reversal or a continuation of the slide. Technical Indicators…

GPU Prices Fall Following Slump in Cryptocurrency Markets

boss

The price of specialized graphics processing units (GPUs) has been declining along with sinking prices in digital currency markets, Computerworld reported July 10. While at the end of 2017 and beginning of 2018 cryptocurrency mining caused a sharp rise in the price of high-end gaming cards, the tendency seems to have reversed as crypto markets continue on a downward slope. Add-in board (AIB) prices are reportedly falling and supplies increasing amid a severe drop in cryptocurrency prices. Manager of digital media at Jon Peddie Research C. Robert Dow told Computerworld…

India May Not Ban Cryptocurrencies, But Treat Them as Commodities

boss

India is not going to put a blanket ban on digital currencies, but rather treat them as commodities, an anonymous source in the government told news outlet Quartz July 11. According to Quartz, a Finance Ministry panel has ordered a study on cryptocurrencies, which may suggest that the government would treat them as commodities. A senior government official with knowledge of the panel’s discussion told Quartz that they doubt the government aims to ban cryptocurrencies. The source said that regulators’ main concern is how to effectively regulate the trade and…

South Korean Regulators to Introduce New Rules for Crypto and Blockchain

boss

South Korean legislators have revealed drafts of bills intended to develop rules on cryptocurrencies, initial coin offerings (ICOs) and blockchain technology, The Korea Times reported July 11. Lawmakers will reportedly introduce the drafts at an extraordinary session of the National Assembly, which will take place from July 13 to 26. According to the Korea Times, representative Song Hee-kyung of the leading opposition Liberty Party Korea (LPK) has called for regulations on trading platforms in order to prevent money laundering, cybercrimes and personal data leaks. Representative Park Yong-jin of the ruling…