Day: July 24, 2018

Bitcoin Breaks $8,000 as Selected Alts See Slight Recovery

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July 24: Bitcoin (BTC) broke through the $8,000 price point this morning, as the top cryptocurrency continues to outperform most other crypto assets, according to data from Coin360. In the days following the strong upswing that kicked off across the crypto market on July 16 and accelerated further on July 17, Bitcoin has sustained positive momentum while other alts slid into negative territory. Market visualization from Coin360 Bitcoin (BTC) is trading around $8,009 to press time, up 3.9 percent on the day. The leading asset gained over $200 dollars within…

How Cryptocurrency Prices Work, Explained

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4. Tracking the price of Bitcoin gives us a good indication of the overall cryptocurrency market in the past 18 months. Bitcoin started 2017 at under $1,000 and took a dip when China announced investigations into cryptocurrency exchanges in the country. At that point, the majority of Bitcoin trading took place in China, and the price of Bitcoin dropped to lows of around $775, while the overall cryptocurrency market cap stood at close to $15 billion. Bitcoin made a slight recovery to well over $1,000 but by March 2017, dropped…

General Electric Participates in Blockchain Startup Xage Security’s $12 Mln Funding Round

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The venture capital arm of General Electric (GE) has joined a $12 million investment round in blockchain startup Xage Security in order to develop its security fabric for industries from energy to building management, a press release confirmed July 23.   The $12 million Series A funding round, led by March Capital Partners, included participation from GE Ventures as well as City Light Capital and NexStar Partners. Xage — which uses blockchain to allow tamper-proof communication between infrastructure and devices in the energy, telecom, utilities, building management, and manufacturing industries…

The Rise of Blockchain-Powered Trade Finance Platforms

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Although they don’t hold the same disruptive promise of radical decentralization as do their permissionless counterparts, private blockchains that governments and corporations run are still capable of transforming entire sectors of the world economy. Global trade has long been viewed as one of the most conspicuous areas for instrumental application of distributed ledger technology (DLT), with both trade finance and supply chains relying on antiquated, unreliable systems of record keeping and trust management. The recent news that Hong Kong’s financial regulator and a conglomerate of banks are poised to roll…

Liverpool Taps Blockchain to Be World’s First ‘Climate Positive’ City by 2020

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The Liverpool City Council (LCC) has announced a partnership with Poseidon Foundation to help reduce the city’s carbon emission. Over the coming months, the LCC and the Poseidon Foundation will test out a new carbon credit system which is expected to cut the city’s carbon emission, according to a local publication. According to its white paper, among other things, Malta-based Poseidon Foundation uses the blockchain “to make and track an impact where it matters most-forest conservation.” The non-profit’s decentralized platform is currently being used in the UK to cut the…

Bitcoin Price Watch: BTC/USD Breaks $8,000, Next Target $8,500

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Key Points Bitcoin price gained momentum and broke a key resistance at $8,000 against the US Dollar. There is a key connecting bullish trend line in place with support at $7,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might correct a few points, but it remains in an uptrend towards $8,500. Bitcoin price is climbing higher above $7,800 against the US Dollar. BTC/USD broke the $8,000 resistance and it looks set for more upsides in the near term. Bitcoin Price Analysis Yesterday, we…

Ethereum Classic Price Analysis: ETC/USD Likely Forming Double Bottom

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Key Highlights Ethereum classic price retested an important support area near $15.75 against the US dollar. There is a crucial bearish trend line forned with resistance at $16.20 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair may perhaps break the $16.20 resistance and the 100 hourly simple moving average. Ethereum classic price is under pressure against the US Dollar and Bitcoin. ETC/USD is likely forming a double bottom pattern near $15.75, which could ignite bullish moves. Ethereum Classic Price Support There were continuous declines…

Ripple Price Analysis: XRP/USD Could Break $0.4300

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Key Highlights Ripple price struggled to break the $0.4650 resistance and declined below $0.4500 against the US dollar. There was a break below an ascending channel with support at $0.4550 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently under pressure and it could even break the last swing low near $0.4300. Ripple price failed to gain momentum against the US Dollar and Bitcoin. XRP/USD is back in a bearish zone with an immediate support near $0.4300. Ripple Price Decline Yesterday, there was…

Bitcoin Price Climbs Back Above $8,000 to Reach 60-Day High

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Bitcoin’s price has climbed back above $8,000 for the first time in two months, data shows. According to CoinDesk’s Bitcoin Price Index, the price of the world’s largest cryptocurrency by market capitalization has jumped by $200 in two hours on Wednesday and is changing hands at $8,015 as of press time, a level not seen since May 24. Indeed, the price of bitcoin had been declining since May 24 and reached a new year-low at $5,785 on June 24, after which it regained momentum to climb above $8,000, reflecting a…

Ethereum Price Analysis: ETH/USD At Risk of More Declines

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Key Highlights ETH price failed to move above the $468-469 resistance zone and declined against the US Dollar. There was a break below a major bullish trend line with support at $460 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently at a risk of more declines towards the next support at $430 in the near term. Ethereum price is under heavy selling pressure against the US Dollar and Bitcoin. ETH/USD could continue to move down towards the $430 support zone. Ethereum Price Resistance Yesterday,…