Month: July 2018

Bitcoin’s Price Moves Below $8K as Bull Case Weakens

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Bitcoin’s price risks deeper losses below $8,000 as the bears seem to be winning a four-day-long tug-of-war with the bulls, technical studies indicate. At press time, BTC is changing hands at $7,950 on Bitfinex – down 2 percent in the last 24 hours – having clocked a low of $7,968 earlier today. The cryptocurrency was largely restricted to a narrow range of $8,300 to $8,050 since late Friday. Consequently, Bollinger bandwidth – a volatility indicator – dropped today to the lowest level since October, as per the short duration technical chart.…

Major Swiss Online Bank Posts Soaring Profits After Offering Clients Crypto Investing

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Online banking service provider Swissquote has seen a 44 percent surge in profits in the first half of 2018, an uplift attributed to the “crypto boom” earlier this year, local news outlet Finews reports July 31. In July 2017, the Swiss-based online bank was credited by many with becoming “the first” European online bank to launch Bitcoin (BTC) trading accounts for its clients. Other Swiss financial institutions have been clamoring to post “firsts” in the integration of crypto into the financial sector, with Falcon Private Bank moving in just ahead…

Coinbase Taps Regulation Veteran for First-Ever Crypto Compliance Chief

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Cryptocurrency exchange Coinbase has announced the appointment of its first-ever chief compliance officer as it moves to become a licensed broker-dealer in the U.S. According to a blog post published on Tuesday, the company is tapping the experience of Jeff Horowitz, who joins the firm following decades working for both banks and regulatory bodies. Horowitz has spent the last 12 years leading the compliance team at Pershing, a BNY Mellon company and also one of the largest providers of brokerage custody. Before that, he worked at Citigroup and Goldman Sachs,…

Bitcoin Price Watch: BTC/USD Could Surge Past $8,300

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Key Points Bitcoin price is struggling to break the $8,300 resistance area against the US Dollar. Yesterday’s highlighted important bearish trend line is intact with resistance at $8,280 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair has to break the $8,280 and $8,300 resistance levels to climb further higher. Bitcoin price is placed nicely above the $7,850 support against the US Dollar. BTC/USD is likely to surge higher once buyers succeed in clearing the $8,300 hurdle. Bitcoin Price Analysis Yesterday, we discussed an important…

World’s Fourth Largest Bank by Assets Trials Blockchain Loans Backed by Land

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The Agricultural Bank of China (ABC), the world’s fourth-largest bank by assets, has issued its first loan on blockchain, local news outlet Financial News reported July 31. State-owned ABC, which counts itself among China’s “Big Four” lenders, revealed it had issued a loan worth around $300,000 backed by a piece of agricultural land in the Guizhou province. According to Financial News, the bank will “buil[d] blocks with local people, pilot land and resources bureaus, and agriculture and animal husbandry bureaus,” through the blockchain system, adding that the loan aimed to…

Mount Sinai Hospital Opens a Blockchain Lab for Biomedical Research

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The Icahn School of Medicine at Mount Sinai has opened a dedicated blockchain laboratory to explore its potential use case in healthcare applications. The Center for Biomedical Blockchain Research (CBBR), as the lab, is called, will scholastically evaluate blockchain-enabled solutions, while providing partnerships and consulting services with companies working on these projects. The solutions in focus at the center will be related to biomedical data management, machine learning, and data governance. The research center will also utilize the opportunity to build and test its blockchain-enabled apps within the Mount Sinai…

Ethereum Classic Price Analysis: ETC/USD Eyeing Break above $17.40

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Key Highlights Ethereum classic price is trading in a bullish zone above the $16.50 support against the US dollar. There is a crucial contracting triangle forming with resistance near $17.25 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair may perhaps break the $17.20 and $17.30 resistance levels to trade further higher. Ethereum classic price is eyeing more gains against the US Dollar and Bitcoin. ETC/USD has to surpass the $17.30 level to accelerate gains in the near term. Ethereum Classic Price Resistance During the…

Australian ‘Big 4’ Bank Taps Ethereum Blockchain for 17-Ton Almond Shipment to Germany

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The Commonwealth Bank of Australia (CBA) has announced the successful completion of a global trade experiment involving a shipment of 17 metric tonnes of almonds from Australia to Germany using blockchain tech. The CBA, one of Australia’s so-called “Big Four” banks, announced the successful blockchain-powered shipment of the international trade endeavor involving the bank and five Australian and international supply chain leaders on Monday. Specifically, the CBA developed a private blockchain platform based atop the Ethereum network to facilitate the real-world global trade experiment which included real-time tracking of the…

Ripple Price Analysis: XRP/USD Upsides Capped Near $0.4550

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Key Highlights Ripple price declined further and broke a key support at $0.4500 against the US dollar. Yesterday’s highlighted key contracting triangle was breached with support at $0.4530 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently under pressure and is facing resistances near the $0.4520 and $0.4550 levels. Ripple price is in a negative zone against the US Dollar and Bitcoin. XRP/USD is likely to retest the $0.4300 support if sellers remain in action. Ripple Price Decline There was no upside move…

Ethereum Price Analysis: ETH/USD Bearish Below $468

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Key Highlights ETH price struggled to move higher and declined below the $458 support against the US Dollar. There are two bearish trend lines formed with resistance at $457 and $468 on the hourly chart of ETH/USD (data feed via Kraken). The pair is under bearish pressure and it could decline further below $445 in the near term. Ethereum price is facing tough time against the US Dollar and bitcoin. ETH/USD is in a negative zone below the $464 and $468 resistance levels. Ethereum Price Trend There was an increase…