Day: August 2, 2018

Bitcoin (BTC) Price Watch: Bulls Defending Correction Level

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Bitcoin Price Key Highlights Bitcoin price is still in correction mode but appears to be finding support at the nearest Fib. A bounce from current levels could take it back up to the swing high and beyond. A move lower, on the other hand, could indicate that a deeper pullback from the uptrend is in order. Bitcoin price has pulled back from its rally and could be due to resume the uptrend if the 38.2% Fib holds as support. Technical Indicators Signals The 100 SMA is still above the longer-term…

Bitcoin Cash Price Analysis: BCH/USD Facing Uphill Task

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Key Points Bitcoin cash price formed a low near the $735 level and recovered against the US Dollar. This week’s followed important bearish trend line with resistance at $800 is intact on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair may perhaps move further higher, but it is likely to struggle above $780-800 in the near term. Bitcoin cash price is slowly recovering above $750 against the US Dollar. BCH/USD could face a strong resistance above the $780 level at $800. Bitcoin Cash Price Resistance…

Former Beverage Company Long Blockchain Corp. Receives Subpoena From SEC

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Former drinks manufacturer-turned-blockchain development company Long Blockchain Corp. has been issued a subpoena by the U.S. Securities and Exchange Commission (SEC), Bloomberg reported August 1. During a filing today, the company reportedly said that the subpoena, originally dated July 10, requested certain documents from Long Blockchain Corp. The firm declined to provide further details, saying: “The company is fully cooperating with the SEC’s investigation. The company cannot predict or determine whether any proceeding may be instituted by the SEC in connection with the subpoena or the outcome of any proceeding…

Australian State Government Invests in Crypto Startup to Promote Regional Tourism

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The state government of the Australian province of Queensland will issue a grant to a crypto startup as part of over $8.3 million of innovation funding, according to an official announcement published August 1. According to the government statement, the TravelbyBit digital currency payments platform for the travel and tourism industry is one 70 companies that will receive Advance Queensland Ignite Ideas funding, which supports entrepreneurs in Queensland in developing their businesses. The company’s objective will be to boost the number of tourists to Central Queensland through selling travel offers…

Telegram Passport Is Vulnerable to Brute Force Attacks

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The recently released personal identification authorization tool Telegram Passport from messenger app Telegram is vulnerable to brute force attacks, according to an Aug. 1 report by cryptographic software and services developer Virgil Security, Inc. On July 26, Telegram announced the launch of Telegram Passport designed to encrypt users’ personal ID information and let them share their ID data with third parties such as initial coin offerings ICOs, crypto wallets, and anyone complying with know your customer (KYC) regulations. Users’ data is kept on the Telegram cloud using end-to-end encryption, subsequently…

Use of Bitcoin in Commerce Hit Low in May After Peaking at $411 Mln Last Year

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The volume of Bitcoin (BTC) used in commerce has declined significantly over the course of the last year, Bloomberg reports Aug. 1. Citing market research firm Chainalysis, Bloomberg reported that the volume of Bitcoin received by the largest 17 crypto merchant-processing services hit a low of $60 million in May 2018, after reaching a peak of $411 million in September 2017. The use of Bitcoin for payments has declined in tandem with its price, which peaked at almost $20,000 in December 2017 before its subsequent drop of over 50 percent.…