Day: August 22, 2018

Controversial ‘Bitcoin Jesus’ Can’t Seem to Win over New Believers for Bitcoin Cash

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Roger Ver, the controversial virtual currency advocate and current CEO of Bitcoin.com, seems to be having a hard time garnering support for Bitcoin Cash, despite preaching about the second coming of the world’s largest cryptocurrency. Bitcoin Cash Barely Being Used in Commerce According to the latest analytics from Chainalysis, Bitcoin Cash is barely being used in commerce, despite it being the fourth largest cryptocurrency by market cap. Chainalysis reviewed payments received by the world’s 17 largest merchant processing services, such as Coinify, GoCoin, and BitPay, and found that Bitcoin Cash…

Bitcoin Price Watch: BTC/USD Breaks Key Resistance, Dips Remain Supported

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Key Points Bitcoin price gained bullish momentum and surged above the $6,480 and $6,550 resistances against the US Dollar. Yesterday’s highlighted key bearish trend line was breached with resistance near $6,475 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair traded above the $6,900 and is currently correcting lower towards key supports. Bitcoin price broke key resistance at $6,550 against the US Dollar. BTC/USD is back in a bullish zone with a close above the $6,620 high. Bitcoin Price Analysis Yesterday, we discussed a few…

Cardano Price Analysis: ADA/USD Attempting Upside Break Above $0.10

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Key Highlights ADA price tested the $0.090 support area and recovered higher against the US Dollar (tethered). There was a break above a key bearish trend line with resistance at $0.0940 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is trading in a positive zone above the $0.095, but it facing a major resistance near $0.100. Cardano price is trading with positive moves against the US Dollar and Bitcoin. ADA/USD must break the $0.100 and $0.105 resistance levels. Cardano Price Analysis After a downward…

Low Volume on US Crypto Exchanges as SEC Bitcoin ETF Decision Nears

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The cryptocurrency markets face declining volume in the United States as they move closer to the SEC’s decision on two proposed Bitcoin ETFs. According to a recently released report, trading volume is shifting from US based exchanges to Asian exchanges preceding the Bitcoin ETF decision. Trade Volume Shifts to Asia The report, conducted by research firm Diar Ltd. using CoinApi data, found an unfolding trend of trading volume shifting from US based exchanges to foreign exchanges, mostly ones located in Asia.  It also appears that exchanges with lower regulatory scrutiny…

Bitcoin Surges 4% as Crypto Exchange BitMEX Initiates Maintenance

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Over the past 12 hours, the Bitcoin price has increased by more than 4 percent, rising from $6,400 to $6,700 within a short period of time. Analysts have attributed the abrupt increase in the price of Bitcoin to the temporary downtime of BitMEX, a crypto exchange widely recognized for its margin trading system that enables users to trade Bitcoin and Ethereum with leverage against the US dollar. As investors could not log into BitMEX and alter their trade orders, analysts stated that Bitcoin short contracts, which achieved a new monthly…

Ripple Price Analysis: XRP/USD Reverses From Key Support at $0.3120

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Key Highlights Ripple price found a strong buying interest around $0.3120 and recovered sharply against the US dollar. There was a break above a key connecting bearish trend line with resistance at $0.3340 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair tested the $0.3550 resistance and is currently consolidating gains above $0.3200 . Ripple price reversed yesterday’s losses and gained traction against the US Dollar and Bitcoin. XRP/USD broke the $0.3350 level to move into a positive zone. Ripple Price Upside Move Yesterday, we…

Vitalik Buterin explains the future of Ethereum in 75 Tweets

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Buterin devoted most of the tweets to explaining the history of Ethereum developer efforts to create a Proof of Stake (PoS) consensus mechanism that would streamline the process while also combating nefarious attacks to control blockchain content. He also clarified that a PoS system will be implemented independently from another effort to roll out sharding on Ethereum. (Sharding is a way of distributing the computational work needed to validate new documents, known as blocks, on the distributed ledger technology). The PoS and sharding development efforts had been part of one project, but…

Ethereum Price Analysis: ETH/USD Surging, Can Buyers Hold Gains?

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Key Highlights ETH price found support near $271-272 and started an upward move against the US Dollar. Yesterday’s highlighted key bearish trend line with resistance at $281 was breached on the hourly chart of ETH/USD (data feed via Kraken). The pair traded above the $290 and $295 levels, but sellers appeared near the $300 level. Ethereum price is slowly gaining momentum against the US Dollar and bitcoin. ETH/USD is now placed nicely in a positive zone above the $284 level. Ethereum Price Support After trading as low as $268.13, ETH…

Coinbase Charts Course For Institutional Crypto Products

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The biggest cryptocurrency exchange in the U.S. just set up its core principles for its institutional financial products. Three months after Coinbase introduced its suite of institutional products in May, the startup has unveiled a series of “fundamental beliefs” about how the company will operate and develop its institutional investor-focused business lines. According to an August 20 blog post written by Adam White, Coinbase’s vice president and general manager, the leading cryptocurrency exchange has set up five core principles. These include the operation of “fair and orderly” markets, enforcing transparent…

Total Crypto Market Cap Jumps $12 Billion in an Hour as BitMEX Pauses Trading

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Crypto markets spiked today, August 21, seeing notable gains amongst the top 100 coins in under an hour, as data from Coin360 shows. Market visualization from Coin360 Total market capitalization of all cryptocurrencies shot up over $12 billion in just over an hour to peak at $222.8 billion, before dropping slightly to $291.7 billion by press time. 1-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap Bitcoin (BTC) had been trading sideways today around $6,400-$6,500 before seeing a sharp 5 percent spike in the space of just…