Day: July 19, 2018

Bitcoin Cash Price Analysis: Can BCH/USD Hold This Support?

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Key Points Bitcoin cash price started a downside correction and declined below $840 against the US Dollar. This week’s highlighted major bullish trend line was breached with support near $830 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently testing a crucial support near $800 and it remains at a risk of more declines. Bitcoin cash price corrected sharply lower from $890 against the US Dollar. BCH/USD must stay above the $800 support to avoid further slides. Bitcoin Cash Price Support Yesterday, we…

NEO Price Watch: Longer-Term Reversal Pattern?

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NEO Price Key Highlights NEO could be in for more gains as it forms an inverse head and shoulders on its 4-hour chart. Price has yet to break past the neckline around $40 to confirm the potential uptrend. Technical indicators are giving mixed signals at the moment, with oscillators suggesting another dip. NEO price could be in for a reversal from its downtrend as it forms an inverse head and shoulders pattern. Technical Indicators Signals The 100 SMA just crossed above the longer-term 200 SMA to suggest that the path…

Bitcoin (BTC) Price Watch: Buyers Waiting for a Pullback?

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Bitcoin Price Key Highlights Bitcoin price recently surged past an area of interest and may be due for a retest. Using the Fibonacci retracement tool shows where bulls might be waiting to join in. Technical indicators are hinting at potential profit-taking and a continuation of the uptrend. Bitcoin price could be due for a correction from its latest rally, and buyers are waiting to join in at the area of interest. Technical Indicators Signals The 100 SMA recently made a bullish crossover from the 200 SMA to indicate that the…

Crypto Miners and Holders Will Be Regulated Under Existing Laws

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Cryptocurrency miners and holders in Russia will be regulated under the Internal Revenue Code, local news outlet Izvestiya reported July 18. The Chairman of the Russian State Duma Committee on Financial Markets, Anatoly Aksakov, told Izvestiya that lawmakers are looking to pass the bill on digital financial assets, or cryptocurrencies, during the autumn session of the Duma. According to Aksakov, the document will not include separate taxation schemes for cryptocurrency owners, meaning that mining and circulation of cryptocurrencies will be regulated under existing provisions of the Russian Tax Code. Aksakov…

Kik Messaging App Reveals Its First Beta Product, Kinit

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Canadian messaging application Kik has launched its first beta product called Kinit, which is related to the company’s Kin token, TechCrunch reported July 18. The release follows Kik’s successful initial coin offering (ICO) which raised $100 million. The ICO for the Kin token concluded in September 2017, having raised almost $100 million from more than 10,000 participants in 117 countries. Initially, the company expected to secure $125 million. Kinit is a wallet app designed for active user experience, in which users able to earn Kin by completing quizzes surveys, and…

Central Bank Digital Currency ‘One of the Worst Financial Ideas’

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The U.S. Congressional Subcommittee on Monetary Policy and Trade discussed major questions around digital currencies in a hearing today, July 18. The hearing, entitled “The Future of Money: Digital Currency,” considered potential domestic and global implementations of cryptocurrencies. At the hearing, the Subcommittee discussed the deployment of cryptocurrency and its underlying technology, blockchain, by central banks, arguing whether central banks should introduce a central bank digital currency (CBDC). Addressing this point, Rodney Garratt, a professor of economics at the University of California, Santa Barbara, claimed that the banks have to…

Stellar Lumens, EOS, Litecoin, Tron, IOTA Technical Analysis

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Charlie Lee statement about buying BTC and not LTC is dominating headline fueling what has come to be known as Cryptocurrency Tribalism. It’s even worse for Litecoin because Stellar Lumens is now the sixth most valuable coin standing a chance to make a cut at CoinBase. As a matter of fact it is up 60 percent in the last week alone and earlier buyers who got in at 22 cents are cashing out after prices hit their targets at 30 cents. Let’s have a look at these charts: EOS Technical…