Month: July 2018

Venezuela’s New Petro-Backed National Currency to Start Circulating in August

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The president of Venezuela Nicolás Maduro has announced that the country’s new cryptocurrency-backed national currency will start circulating August 20, local state news agency Telesur reported July 25. Telesur reports that the new currency, the Bolívar Soberano (Sovereign Bolivar), will have five zeros less than the existing national currency Bolivar Fuerte (VEF) and will be anchored to the oil-backed Petro (PTR) digital currency. The Petro was launched by the government of Venezuela this February. Maduro noted that the measure intends to align the financial and monetary system in the country…

Up 45%: Is Bitcoin’s Price Preparing for Long-Term Bull Market?

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Bitcoin’s (BTC) 45 percent month-on-month rally has likely put the leading cryptocurrency on the path to long-term success, technical studies indicate. As of writing, BTC is changing hands at $8,300 on Bitfinex, having clocked a two-month high of $8,507 on Tuesday. A month ago, it was all gloom and doom in the bitcoin market, perhaps warranted, as the cryptocurrency had created back-to-back long-term bearish chart patterns in the month of May and June. Consequently, BTC looked primed for a move lower to $5,000. However, the inverse head-and-shoulders breakout seen earlier…

Bitcoin Price Watch: BTC/USD Short-term Correction Underway

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Key Points Bitcoin price topped near the $8,500 level and started a downside correction against the US Dollar. Yesterday’s highlighted key connecting bullish trend line was breached with support at $8,190 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently correcting lower, but it remains well supported near the $8,100 and $8,000 levels. Bitcoin price is facing a minor selling pressure below $8,500 against the US Dollar. BTC/USD must stay above $8,000 to avoid an extended correction. Bitcoin Price Analysis Yesterday, we saw…

Ethereum Classic Price Analysis: ETC/USD Primed for More Gains

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Key Highlights Ethereum classic price is moving higher and is currently placed above $16.00 against the US dollar. There was a break above a key bearish trend line with resistance at $16.25 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is following a contracting triangle with support near the $16.45 level. Ethereum classic price is moving with bullish signs against the US Dollar and Bitcoin. ETC/USD is likely to extend gains above the $17.00 level in the near term. Ethereum Classic Price Trend There…

Ripple Price Analysis: XRP/USD’s 100 SMA as Key Support

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Key Highlights Ripple price remained confined in a tiny range above the $0.4500 support against the US dollar. Yesterday’s highlighted important bearish trend line was breached with resistance at $0.4660 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is very well supported above the $0.4500 level and the 100 hourly simple moving average. Ripple price is slowly on the move against the US Dollar and Bitcoin. XRP/USD must clear the $0.4675 and $0.4700 barriers to gain traction in the near term. Ripple Price Support…

Non-Fungible Tokens, Explained | Cointelegraph

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2. Because they can offer unique characteristics which make them different and digitally scarce. Many tokens – and indeed cryptocurrencies – are fungible. If you send someone a Bitcoin, and get one back, you wouldn’t notice any difference. A lot of the time, fungible tokens are built using a standard called ERC-20. For the sake of simplicity, let’s imagine each of these tokens is a $10 bill. If you sent a token to someone, and got another one back a week later, they would be identical. (That said, there might…

Ethereum Price Analysis: ETH/USD Bullish Above $465

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Key Highlights ETH price moved a few points lower after trading as high as $485.71 against the US Dollar. There is a major bullish trend line in place with support at $470 on the hourly chart of ETH/USD (data feed via Kraken). The pair is trading above a few important support levels like $465 and $470. Ethereum price is struggling to gain momentum against the US Dollar and bitcoin. ETH/USD must hold the $465 support to bounce back in the near term. Ethereum Price Trend Yesterday, there was a nice…

Tron (TRX) Price Watch: Bulls Gaining Momentum?

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Tron Price Key Highlights Tron completed an upside break from a double bottom neckline, indicating that gains are in the cards. However, price got rejected on nearby resistance at 0.04000 and is currently pulling back to gather more bullish energy. Price seems to have bounced on the retest of the broken neckline and is ready to resume the climb to the extension levels. Tron price made a break and retest of the double bottom neckline to signal that more buyers are joining in. Technical Indicators Signals The 100 SMA is…

Joseph Lubin Names Berlin as The Most Important City in The ‘Blockchain Cosmos’

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Ethereum co-founder Joseph Lubin referred to Berlin as “the most important city in the blockchain cosmos”, Cointelegraph auf Deutsch reported July 25. Lubin said that, “Berlin has the infrastructure, Berlin has the talent, the really good programmers are here.” Lubin added that, if Berlin wanted to maintain its status as a blockchain hub,  “the government needs to set up more programs to promote blockchain.” According to Lubin, blockchain is still in its infancy. The Ethereum co-founder, who now is concentrating on app development on the Ethereum blockchain with his company…

Bitcoin Cash Price Analysis: BCH/USD Testing Key Support Near $820

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Key Points Bitcoin cash price started a downside correction after trading above the $875 level against the US Dollar. There is a key connecting bullish trend line formed with support at $830 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair must stay above the $820 and $830 support levels to avoid more declines. Bitcoin cash price is correcting lower against the US Dollar. BCH/USD is currently approaching an important support area near the $820-830 levels. Bitcoin Cash Price Support Yesterday, we saw a decent…