Day: July 13, 2018

IRS Joins the J5, Should We Prepare For International Enforcement? Expert Take

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In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation, and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please email your ideas and CV to george@cointelegraph.com. The views expressed here are the author’s own and do not necessarily represent the views of Cointelegraph.com The IRS’s Swiss Bank enforcement efforts may be winding down, but…

Bitcoin Again Shows Green Shoots After $6K Defense

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Bitcoin’s (BTC) sharp recovery from two-week lows has raised the odds of a stronger rally towards $6,400, technical studies indicate. As of writing, the leading cryptocurrency is changing hands at $6,245 on Bitfinex. BTC was expected to drop below $6,000 in the last 24 hours as the bears were on the offensive following an inverted flag breakdown. However, the intraday oversold conditions likely put a floor under bitcoin prices at the two-week low of $6,080, helping it chart a solid rebound to $6,283 (today’s high). While it is too early…

Bitcoin Price Watch: BTC/USD Upsides Remain Capped

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Key Points Bitcoin price declined below the $6,100 level before recovering substantially against the US Dollar. There is a major bearish trend line in place with resistance at $6,360 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must break the trend line resistance and $6,350 to move further higher in the near term. Bitcoin price is struggling to hold gains against the US Dollar. BTC/USD may perhaps continue to face hurdles near $6,360 and $6,420. Bitcoin Price Analysis Bitcoin price failed to stay above…

Robinhood’s Plan to Win the Crypto Exchange War? Kill Trading Fees

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As a new entrant into the cryptocurrency field, Vlad Tenev, co-CEO of online investment brokerage Robinhood, is following a time-honored business strategy: Undercut the competition. Except he’s taking it to an extreme. Launched early this year, Robinhood Crypto is differentiating itself with zero-fee transactions, with the ultimate goal of doing away with the concept of trading fees in the market altogether. Framing this effort as a force for good in line with his company’s namesake folk hero, Tenev told CoinDesk he wanted to prevent consumers looking to invest in cryptocurrencies, especially young millennials,…

Cardano Price Analysis: ADA/USD Approaching Resistance

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Key Highlights ADA price declined towards the $0.1220 level before starting an upside correction against the US Dollar (tethered). There is a crucial bearish trend line formed with resistance at $0.1340 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is recovering and it seems like it is approaching towards the $0.1320 and $0.1340 resistances. Cardano price is slowly recovering against the US Dollar and Bitcoin. ADA/USD must break the $0.1340 resistance to recover further in the near term. Cardano Price Analysis After a break…

Ripple Price Analysis: XRP/USD Recovers Sharply

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Key Highlights Ripple price traded to a new weekly low below $0.4250 before recovering against the US dollar. There is a new major bearish trend line in place with resistance near $0.4450 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is recovering nicely, but it has to break the $0.4450 and $0.4500 resistances to gain further. Ripple price bounced back from lows against the US Dollar and Bitcoin. XRP/USD is now facing a crucial resistance near the $0.4450 level. Ripple Price Upside Hurdle There…

OKCoin Exchange Launches in US Offering Fiat-to-Crypto Trading

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Cryptocurrency exchange OKCoin has launched a branch in the U.S. market offering trading services between U.S. dollars and several major cryptocurrencies. According to OKCoin’s website on Friday, the exchange has already launched the new offering and is now accepting U.S. dollars deposits and withdrawals, as well as trading against bitcoin, bitcoin cash, litecoin, ethereum and ethereum classic. For the new offshoot, the company filed a money service business (MSB) registration with the U.S. Financial Crimes Enforcement Network (FinCEN) in November 2017. The document shows that the legal entity behind the exchange is…

Ethereum Price Analysis: Can ETH/USD Make It?

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Key Highlights ETH price declined further and traded as low as $417.37 against the US Dollar. This week’s highlighted key bearish trend line is still active with resistance at $438 on the hourly chart of ETH/USD (data feed via Kraken). The pair has to move above the trend line and $440 resistance to recover further in the near term. Ethereum price is slowly moving higher against the US Dollar and Bitcoin. ETH/USD must clear hurdles near $440 to gains upside traction towards $460. Ethereum Price Resistance There were further dips…

Bitcoin (BTC) Price Watch: Next Potential Support Zone

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Bitcoin Price Key Highlights Bitcoin price has broken below that near-term area of interest and is setting its sights on the next support zone. Price could fall to the very bottom of its range visible on longer-term charts, where buyers may be waiting. Technical indicators reflect weakening bullish momentum and a return in selling pressure. Bitcoin price broke below the resistance turned support zone at $6,300 and is on track towards testing the next floor. Technical Indicators Signals The 100 SMA crossed below the longer-term 200 SMA to hint that…

Bitcoin Cash Price Analysis: Can BCH/USD Break 100 SMA?

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Key Points Bitcoin cash price declined further, but it found support near the $660 level against the US Dollar. This week’s highlighted key bearish trend line is still in place with current resistance near $718 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair must break the trend line, $720, and the 100 hourly simple moving average to gain traction. Bitcoin cash price is slowly recovering above $680 against the US Dollar. BCH/USD has to break the 100 SMA to start a decent upside move.…