Day: September 13, 2018

Bitcoin (BTC) Price Watch: Bearish Pullback Underway?

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Bitcoin Price Key Highlights Bitcoin price appears to be gaining a bit more traction on its bounce off the triangle support. Price could be ready to test the triangle resistance again, and this lines up with the 61.8% Fib level. Technical indicators are suggesting that the rallies could go on for a bit longer. Bitcoin price seems to have found support at the bottom of the descending triangle and may be ready to test the top again. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA to…

Bitcoin Cash Price Analysis: BCH/USD Facing Key Resistance Near $450

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Key Points Bitcoin cash price traded to a new low at $410 before starting a recovery against the US Dollar. This week’s highlighted important bearish trend line could stop upsides near $450 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is recovering, but it is about to face major hurdles near the $440 and $450 resistance levels. Bitcoin cash price traded towards the $400 support against the US Dollar. BCH/USD is currently correcting higher, but it could face resistance near $450. Bitcoin Cash Price…

Fintech Investor Ribbit Capital Sets $420 Million Goal for Its Latest Fund

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U.S.-based venture capital firm Ribbit Capital, the portfolio of which includes notable cryptocurrency and blockchain projects, is aiming to raise $420 million for its latest fund, according to an SEC filing dated September 12. The fund will reportedly be the fifth venture of Ribbit with limited partners, while the $420 million figure is a “nominal increase” from the $300 million the company attracted last year. Founded in 2012, Ribbit’s portfolio is marked by cooperation with such industry leaders as cryptocurrency exchange Coinbase, zero-fee stock and crypto trading platform Robinhood, finance…

Japan: RippleNet Implementation With Instant Remittances

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Since the dawn of time, humans have followed opportunity to provide for their families. Today, that means workers striking out from their home countries to find higher paying jobs elsewhere in the world. In 2017, a record 1.28 million foreigners were working in Japan alone. Many of these workers are a primary source of income for family members living back home, making a remittance corridor from Japan to a worker’s home country a lifeline for needed cash. But an archaic international payments infrastructure — designed decades before modern payment technologies –…

Two US-Audited Stablecoins Debut, Experts See Massive Impact on Crypto Market

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As Cointelegraph reported on Sept. 10, with the approval of the New York Department of Financial Services (NYDFS), Paxos and Gemini officially announced the introduction of two stablecoins called the “Gemini dollar (GUSD)” and the “Paxos Standard (PAX).” Both stablecoins are backed by the U.S. dollar on a 1:1 basis, with every unit of GUST and PAX representing the value of one U.S. dollar. Experts believe that the emergence of fully audited, legitimate and licensed stablecoins will have a profound impact on the crypto market, especially in the long-term, as…

Crypto Exchange OKCoin Expands Trading to 20 More U.S. States

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Digital currency exchange OKCoin has announced its expansion of token-to-token trading into twenty new U.S. states, according to a statement published September 12. Per the announcement, OKCoin has extended trading services to the states of Alaska, Arizona, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, Tennessee, Texas, Utah and Wisconsin. Jim Nguyen, Vice-President of Marketing at OKCoin, stated in the blog post that the exchange collaborated with regulators in each state in order to comply with both federal and state laws. OKCoin CEO…

Crypto Exchange Offering CFTC-Regulated Derivatives Raises $15 Million in Funding Round

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Boston-based alternative investment firm Bain Capital Ventures has led a $15 million funding round for an institutional cryptocurrency exchange Seed CX, according to an official announcement published September 12. Seed CX is a Bain Capital Ventures backed, licensed digital asset exchange for both spot market and U.S. Commodities and Futures Trading Commission(CFTC)-regulated derivatives. Per the announcement, Seed CX’s total funding has reached more than $25 million following the latest $15 million Series B funding round. The exchange will use the recent investment to improve its physical trading infrastructure, expand its…

Hong Kong Jewelry Retailer to Use Blockchain Platform for Tracking Diamonds

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Hong Kong-based jewelry retailer Chow Tai Fook Jewellery Group will start to use a blockchain platform to track diamonds, the South China Morning Post reported September 12. Chow Tai Fook has reportedly put some of its diamonds on a blockchain platform developed by blockchain startup Everledger and secured by the IBM Blockchain Platform. This will reportedly enable the retailer’s customers to ascertain the origin and authenticity of stones sold in its T Mark-branded stores, using a T Mark app. The T Mark was an initiative started by the company in…

“Crypto Isn’t Dead” — Bitcoin Hits $6,400, Altcoins Follow

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Bitcoin Rebounds To $6,400, Altcoins Follow  After a drastic sell-off of upwards of 20%, the cryptocurrency market finally found some much-needed stability (relatively) on Wednesday, with Bitcoin (BTC) seemingly finding some semblance support at the $6,300 range. Over the past 24 hours, BTC has moved between $6,100 and $6,400, most recently jetting to a daily high at $6,400 after some deliberation in the mid $6,300s. At the time of writing, BTC is valued at $6,405 a piece and is up 1.5% in the past 24 hours. But many see this…

Bitcoin Cash Find Temporary Support

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A week over week 20 percent drop of Bitcoin Cash (BCH) prices was enough to set the tone for week. From the chart, it’s obvious that the trend is bearish with prices trading within a bear break out strategy set in motion in early August. Going forward, we suggest selling on every high until after a firm bullish reversal pattern prints. From the News There are four main elements of a “proper” cryptocurrency. They include the ability to fix supply, transaction immutability, censorship resistance and though an external factor, the…