Month: July 2018

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,…

Bitcoin Cash Price Analysis: BCH/USD Struggling to Hold $800

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Key Points Bitcoin cash price traded towards the $840 level where it faced sellers against the US Dollar. There was a break below an ascending channel with support at $800 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently under pressure and it seems like it could decline back towards $750. Bitcoin cash price is back below the $800 support against the US Dollar. BCH/USD is currently at a risk of more declines towards the $750 level. Bitcoin Cash Price Resistance Yesterday, we…

Tron (TRX) Price Watch: Bears Are Back in the Game

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Tron Price Key Highlights Tron is still trending lower inside its descending channel visible on the 4-hour chart. Price got rejected at the resistance again and is moving lower to test the Fibonacci extension levels. Technical indicators are giving mixed signals on whether bullish pressure could return or not. Tron price bounced off its test of resistance and is setting its sights back on the downside targets marked by the Fib extension tool. Technical Indicators Signals The 100 SMA is still below the longer-term 200 SMA to signal that the…

Bitcoin (BTC) Price Watch: All Eyes on this Area of Interest

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Bitcoin Price Key Highlights Bitcoin price busted through its short-term channel and the top of a longer-term descending triangle. Price is now making its way to the area of interest around $8,000 that might make or break the rallies. Strong bullish momentum could take it past this former support region, paving the way for an extended uptrend. Bitcoin price has climbed enough to reach the area of interest at $8,000 and might need another catalyst to sustain its rally. Technical Indicators Signals The 100 SMA is above the longer-term 200…

BitFunder Founder Pleads Guilty to Charges of Fraud and Obstruction of Justice

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The operator of now defunct Bitcoin (BTC) stock exchange BitFunder has pleaded guilty to federal charges of obstruction of justice and securities fraud, Reuters reports July 23. According to prosecutors, 37-year old Jon Montroll, also known as Ukyo, also pleaded guilty to obstruction of justice, admitting that he provided false balance statements to the U.S. Securities and Exchange Commission (SEC) in an investigation of the fake 6,000 BTC BitFunder hack in 2013. Montroll, of Saginaw, Texas, operated BitFunder, where users could sell virtual shares of businesses for bitcoins, as well…

Bank of Canada Study Finds 58% of Canadians Own BTC for Investment Purposes

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Canadian citizens used Bitcoin (BTC) mainly for investment purposes in 2017, according to a study by the Bank of Canada (BoC) published July 23. The study is an update to the results of the Bitcoin Omnibus Survey (BTCOS) conducted by Canada’s central bank within a short period between December 12 to 15, 2017, a few days before Bitcoin reached its all-time high of 20,000 on December 17. According to the survey results, Canadians have mainly used the major cryptocurrency for investment purposes in 2017, rather than for transactions, which previously…

Google to Offer Distributed Ledger Solutions in Cloud Platform Marketplace

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Google is joining the list of tech giants to deploy blockchain technology to offer customers fintech and cloud service solutions, according to an official statement Monday, July 23. Google announced that the company has partnered with two blockchain-focused firms, Digital Asset and BlockApps, to offer new distributed ledger technology (DLT) solutions on Google’s Cloud Platform (GCP), which would allow users to “explore ways [customers] might use distributed ledger technology frameworks.” Digital Asset is a supplier of distributed ledger software for the fintech industry, while BlockApps offers a blockchain platform to…