Day: August 15, 2018

Cardano Price Analysis: ADA/USD Facing Uphill Task Near $0.10

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Key Highlights ADA price declined heavily and traded as low as $0.0844 against the US Dollar (tethered). This week’s highlighted significant bearish trend line is still active with resistance near $0.1100 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is currently correcting higher, but it is likely to face sellers near the $0.1000 and $0.1100 levels. Cardano price declined heavily against the US Dollar and Bitcoin. ADA/USD is rebounding, but there are many hurdles on the upside near $0.1000. Cardano Price Analysis In one…

Ripple Price Analysis: XRP/USD Attempting Upside Break above $0.3000

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Key Highlights Ripple price recovered nicely and moved above the $0.2750 resistance area against the US dollar. This week’s crucial bearish trend line is preventing gains with resistance near the $0.2900 level on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may perhaps break the $0.2900-0.3000 resistance area for more gains in the near term. Ripple price corrected higher against the US Dollar and Bitcoin. XRP/USD is currently attempting an upside break above the $0.2900-0.3000 resistance zone. Ripple Price Resistance There was a decent support…

Ethereum Price Analysis: ETH/USD Correction Facing Hurdle Near $300

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Key Highlights ETH price started a short-term correction and moved above the $275 level against the US Dollar. This week’s followed important bearish trend line is in place with resistance at $300 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to find a strong selling interest near the $295, $300 and $305 resistance levels. Ethereum price recovered a few points against the US Dollar and bitcoin. ETH/USD is now heading towards a monster resistance near $295-300. Ethereum Price Upside Hurdle Yesterday, we saw a…

Bitcoin Cash Price Analysis: BCH/USD Recovering, Could Test $550

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Key Points Bitcoin cash price is recovering after finding buyers around the $475 level against the US Dollar. There was a break above a short-term contracting triangle with resistance at $490 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is trading with positive signs, but it is approaching key resistances near $535 and $550. Bitcoin cash price started a short-term correction above $500 against the US Dollar. BCH/USD could trade higher, but it is likely to face sellers near $550. Bitcoin Cash Price Resistance…

Bitcoin (BTC) Price Watch: Bullish Divergence Spotted

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Bitcoin Price Key Highlights Bitcoin price is still hovering above the long-term support around the $6,000 area. A bullish divergence can be seen, suggesting that a bounce may be in order. Moving averages, however, still indicate that more losses are in the cards. Bitcoin price is still testing the long-term floor, and a bullish divergence signals that a bounce may happen. Technical Indicators Signals The 100 SMA just crossed below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. This suggests that the…

Venezuela to Use Petro as Unit of Account for Salaries, Goods and Services

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Venezuelan President Nicolás Maduro has announced that the national oil-backed cryptocurrency, the Petro, will be used as a unit of account within the country, news outlet ABC International reported August 14. Nicolás Maduro reportedly announced in a television address, that the state oil company PDVSA will use the Petro as a unit of account. Additionally, the government will introduce a new salary system and a pricing system for goods and services that are anchored to the Petro. ABC quotes Maduro: “As of next Monday, Venezuela will have a second accounting…

Jamaica Stock Exchange to Introduce Crypto and Tokens Trading via Canadian Fintech Firm

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The Jamaica Stock Exchange (JSE) has selected Canadian fintech company Blockstation to facilitate the trading of digital currencies and tokens on the JSE, according to an August 14 press release. Upon implementation of the project, JSE will provide trading, quotes, execution, and settlement services for cryptocurrencies and tokens. Kirk Brown, Head Trader for a broker member of the JSE, underlined the importance for investors “to be able to invest in digital assets through their traditional financial institutions.” Marlene Street Forrest, Managing Director of the JSE said: “We are very comfortable…

Goldman Sachs, Wall Street Banks Sink $32 Million into Blockchain Startup

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We may, as Lightning Labs CEO Elizabeth Stark said earlier this year, be entering a “bitcoin not blockchain” world, but the global banking cabal isn’t ready to capitulate on its support for enterprise blockchain products just yet. Indeed, Axoni, an enterprise blockchain startup founded in 2013, has just concluded a $32 million Series B funding round headlined by a group of Wall Street’s largest financial institutions. Announced on Tuesday, the funding round was led by Goldman Sachs and Nyca Partners and featured investments from major financial industry firms such as…

Playboy Sues Canadian Blockchain Firm for

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Beverly Hills-based Playboy Enterprises is suing Canadian firm Global Blockchain Technologies (GBT), claiming that it failed to integrate blockchain technology into Playboy’s online media channels, the Los Angeles Times reported August 14. Playboy Enterprises reportedly filed a lawsuit in Los Angeles County Superior Court, accusing the Canadian company of fraud and breaching a contract, which the two companies drew in March. Per the terms of the agreement, GBT would integrate the Vice Industry Token (VIT) on Playboy’s media sites. Playboy said that the blockchain firm not only failed to fulfill…

Crypto Price Collapse Will Not Constrain Further Growth

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Ethereum co-founder and ConsenSys Inc. CEO Joseph Lubin said in an interview with Bloomberg Aug. 14, that he does not see the recent cryptocurrency price collapse as a constraint to further growth. In а recent discussion on the state of the cryptocurrency market with Bloomberg, Lubin said that the value surges of the past year were just another bubble like the previous “six big bubbles, each more epic than the previous one, and each bubble is astonishing when they’re happening.” He added that on close scrutiny those peaks look like…