Day: August 9, 2018

Bitcoin Price Rises 3% in Gloomy Crypto Market Recovery

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Over the past 24 hours, the crypto market has slightly rebounded by adding $5 billion to its valuation, as bitcoin price recorded a three percent increase. Most tokens including Basic Attention Token (BAT), Augur (REP), Ontology (ONT), Pundi X (NPXS), and Zilliqa (ZIL), that have strong developer and investor communities, have fallen by 9 to 14 percent, extending their losses from yesterday. Market is Still Gloomy From August 7 to 8, the cryptocurrency market lost nearly $31 billion of its valuation, within a 48-hour period. The Bitcoin price plummeted by…

Ethereum Classic Price Analysis: ETC/USD Could Decline Below $14

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Key Highlights Ethereum classic price trimmed most of its Coinbase gains and declined below $16.00 against the US dollar. There is a major bearish trend line in place with resistance at $15.30 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair remains at a risk of more losses below the $14.50 and $14.00 support levels in the near term. Ethereum classic price is under heavy selling pressure against the US Dollar and Bitcoin. ETC/USD could accelerate losses below the $14.00 support if sellers remain in…

Ripple Price Analysis: XRP/USD Correcting Higher Towards $0.3650

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Key Highlights Ripple price fell further and traded below the $0.3300 level before starting a recovery against the US dollar. There was a break above a short-term bearish trend line with resistance at $0.3350 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may perhaps correct further higher towards the $0.3600 and $0.3650 levels in the near term. Ripple price is slowly recovering after heavy declines against the US Dollar and Bitcoin. XRP/USD could correct further towards the $0.3650 resistance. Ripple Price Resistance There were…

Ethereum Price Analysis: ETH/USD Could Correct To $375-380

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Key Highlights ETH price declined heavily and broke the $375 and $360 support levels against the US Dollar. There is a short-term declining channel formed with resistance near the $362 level on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct higher in the short term towards the $370, $375 and $380 levels. Ethereum price remained in a bearish zone against the US Dollar and bitcoin. ETH/USD is currently correcting higher and it may perhaps test the $380 hurdle. Ethereum Price Recovery There were further slides…

Bitcoin (BTC) Price Watch: Can More Bears Join In?

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Bitcoin Price Key Highlights Bitcoin price is still heading lower as it trades below a descending trend line on the 1-hour chart. Price looks prime for a pullback as it hovers above the $6,100 area, and bears might be waiting at the trend line. Applying the Fibonacci retracement tool also shows where sellers might jump in. Bitcoin price is trending steadily lower below a descending trend line and might be ready to make a correction soon. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to indicate…

Bitcoin Cash Price Analysis: BCH/USD Remains Sell on Rallies

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Key Points Bitcoin cash price fell significantly and broke the $600 support against the US Dollar. There is a new contracting triangle forming with resistance near $608 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is likely to resume its downside move once the current correction is complete near $600-610. Bitcoin cash price settled below $600 against the US Dollar. BCH/USD is currently correcting higher, but it could face sellers near the $600-610 zone. Bitcoin Cash Price Resistance There was no stopping sellers as…

Now a Nearly $1 Billion Blockchain, Tezos Is Slowly Building Up Its Security

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The number of Tezos bakers is on the rise. The protocol’s term for a validator (its equivalent of bitcoin’s miners), bakers are crucial to ensuring the nascent network’s security. And that’s all the more necessary given the value of the funds at stake. Since raising $232 million in 2017, the protocol has had a very bumpy path to getting off the ground. Once live, though, it’s become a top 20 blockchain by market capitalization, with a valuation consistently above $1 billion. Furthermore, there’s been little out of the ordinary happening…

ICO Market Doubled Since Last Year, Shows Increased Institutional Investment

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The Initial Coin Offering (ICO) market has more than doubled in a year according to ICORating’s ICO market report for the the second quarter of 2018, published August 8. ICORating is an independent rating agency that conducts independent analytical research evaluating ICOs and the ICO market. According to the report, ICOs in 2018 have already raised over $11 billion in investments, a figure which it purports is ten times larger than the sum of investments from ICOs in Q1-2 2017. ICORating reports that in Q2 2018, 827 projects raised over…

Interest Increases in ICO and Digital Asset Operations Licenses

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The Thai Securities and Exchange Commission (SEC) says they have seen increased interest in licenses to operate initial coin offerings (ICOs) following the Finance Ministry’s announcement to introduce ICO regulations, the Bangkok Post reported August 8. The SEC secretary-general Rapee Sucharitakul told the Bangkok Post said that almost 50 ICO projects have expressed interest in a becoming certified, but it remains unclear whether all of them will be issued the proper credentials to raise funds. Rapee added that three out of five ICO portals interested in applying for licenses have…

Ready-to-Use Malware for Bitcoin ATMs Found for Sale Online

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Tokyo-based security software manufacturer Trend Micro has found Bitcoin (BTC) automated teller machine (ATM) malware available for purchase online, according to a blog post published August 7. In the blog post, Trend Micro cites an advertisement posted by an “apparently established and respected” user on a darknet forum. For the price of $25,000, criminals could purchase Bitcoin ATM malware accompanied by a ready-to-use card with EMV and near-field communication (NFC) capabilities. EMV chips were originally developed by leading credit card providers to store data on integrated circuits rather than magnetic…