Key Points Bitcoin price is preparing for the next move with resistances near $6,385 and $6,530 against the US Dollar. Yesterday’s highlighted major breakout pattern is still active with resistance at $6,385 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to make the next move either above $6,400 or below $6,240 in the near term. Bitcoin price remained confined in a range above $6,240 against the US Dollar. BTC/USD could recover to $6,530 if it breaks the $6,400 resistance. Bitcoin Price Analysis…
Day: September 11, 2018
Korea: Blockchain already implemented on everyday banking
Many media reports and business gurus argue that the distributed ledger system will upend traditional payments and financial transactions, but so far, its impact on the real world has been limited. A series of bank-backed projects around the world – the IBM-backed Hyperledger Fabric project, the Utility Settlement Coin, and R3’s blockchain consortium – have started, but they are far from yielding results that typical users will notice. Korea’s banking industry, in cooperation with Samsung SDS, has already put blockchain to use for their retail clients. Major banks rolled out…
Ethereum Classic Price Analysis: ETC/USD Is Likely To Recover To $12.20
Key Highlights Ethereum classic price extended declines and tested $10.60 before recovering against the US dollar. There was a break above a key bearish trend line with resistance at $11.25 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is showing a few positive signs and it could continue to move higher towards $12.00 or $12.20. Ethereum classic price is slowly recovering against the US Dollar and Bitcoin. ETC/USD may gain traction for a move towards the $12.20 level. Ethereum Classic Price Trend In the…
Ripple Price Analysis: XRP/USD Remains Sell on Rallies Near $0.2800
Key Highlights Ripple price declined further recently and broke the $0.2650 support against the US dollar. Yesterday’s highlighted major bearish trend line is active with resistance at $0.2800 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may correct a few points, but it is likely to face sellers near the $0.2800 and $0.2820 levels. Ripple price remains in a bearish zone against the US Dollar and Bitcoin. XRP/USD is likely to extend declines below $0.2600 if sellers remain in action. Ripple Price Decline Yesterday,…
Startup Promising Instant Crypto Transactions to Develop Network for Chinese TV
Silicon Valley-based startup Splend, specialized in developing solutions to address blockchain scaling issues for instant crypto transactions, announced that it is partnering with Shanghai Code Center Industry, a China-based IT company, to develop the “next generation” network infrastructure for the China Cable Television Network. It is a subsidiary of China Central Television (CCTV), the largest media company in the country, broadcasting to over one billion viewers. “Through the adoption of Splend’s cutting edge technology, we are planning to build the next network infrastructure, which will overthrow the realities of the…
Ethereum Price Analysis: ETH/USD Sets Eyes On $210-215
Key Highlights ETH price is slowly recovering and is likely forming a support near $185 against the US Dollar. Yesterday’s highlighted key bearish trend line was breached with resistance at $193 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to slowly move higher towards the $208 and $210 resistance levels in the near term. Ethereum price is trading with range moves against the US Dollar and bitcoin. ETH/USD could test the $210-215 resistance zone where sellers are likely to emerge. Ethereum Price Support Yesterday,…
Crypto ‘Here to Stay’ but Needs Classification, Says European Commission Vice President
The European Union (E.U.) will focus on the development of crypto asset classification and regulatory mapping, European Commission Vice President Valdis Dombrovskis claimed at a recent meeting of Economic and Financial Affairs Council (Ecofin) in Vienna. According to Dombrovskis, crypto assets are “here to stay,” and the crypto market still “continues to grow” despite “recent turbulence.” The Commissioner claimed that, in order to address major issues around cryptocurrencies, the E.U. will focus on the main challenge that is how to “categorize and classify” crypto assets this year. He also stated…
Crypto Use Is A ‘Fringe Activity’ Among Terrorists, Says Think Tank
A new report from a Washington, D.C. think tank presented last week argued that cryptocurrencies aren’t well-suited for terrorist financing – while also highlighting the limited success terrorist groups have had attempting to raise funds with the technology. The paper was produced by the Foundation for Defense of Democracies’ Center on Sanctions and Illicit Finance and was presented during a hearing before the U.S. House of Representatives Services Committee’s hearing on terrorism financing. The report by Yaya Fanusie, director of the Center, has since been published on the Committee’s website. Noting…
Russia Not Ready for Issuance and Circulation of Cryptocurrencies
A special representative of the Russian president said that the country is not yet ready for the circulation and issuance of cryptocurrencies, according to local news agency RIA Monday, September 10. The president’s Special Representative on digital and technological development Dmitry Peskov explained his view on the state of digital assets in an interview with RIA: “From the start, we have not legally suppressed blockchain and cryptocurrencies, and are trying to bring them into a normative space. But the government must give fair warning, that there is a high risk…
How the Fast-Growing Stock Trading App Got Into Crypto
As been reported by TechCrunch Sept. 6, stock and cryptocurrency trading platform Robinhood is planning to launch an initial public offering. Now the company is looking for a chief financial officer (CFO). Robinhood CEO Baiju Bhatt added that the startup is undergoing a spate of audits from the U.S. Security and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) in order to ensure regulatory compliance. After raising $363 million in a series D funding round and $110 million in a series C round, Robinhood was valued at $5.6…