Month: September 2018

Crypto Market Eyes Rebound at $115 Billion, Short-Term Rally Unlikely

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Over the past 24 hours, Bitcoin Cash initiated a 20 percent rally fueled by the initial public offering (IPO) of Bitmain but the rest of the crypto market remained relatively stable at a low price range. The valuation of the cryptocurrency market has maintained its position in the $114 to $115 billion range, as Bitcoin and ETH, the native cryptocurrency of Ethereum, both recorded a slight increase in price of 0.5 percent. Is a Short-Term Rally Next? Crypto Dog, a respected technical analyst in the cryptocurrency community, stated that if…

Ripple Price Analysis: XRP/USD Remains Supported Near $0.4920

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Key Highlights Ripple price struggled to move above the $0.5700-0.5750 resistance area against the US dollar. There is a major bearish trend line formed with resistance at $0.5700 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could find a strong buying interest near the $0.5080 and $0.4920 levels in the near term. Ripple price remains supported on dips against the US Dollar and Bitcoin. XRP/USD could test $0.5000 and $0.4920 where buyers are likely to emerge. Ripple Price Analysis There was an upward move…

Trader Shorted Bitcoin to $5,950 on CNBC, Now $6,500

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Scott Nations, the president and chief investment officer of NationsShares, a division of Fortress Trading, shorted Bitcoin through the Cboe futures market live on CNBC on September 26. Since then, the price of Bitcoin has slightly increased to $6,500. “I want to be a seller of the October contract. The Cboe Bitcoin futures, that is a single Bitcoin in a futures contract. My targeted downside is $5,950 and my stop to the upside is $6,600. Why do I want to short? Because it is Bitcoin. It has no fundamental value.…

Universal Wallet Becomes the ‘First’ to Support Cardano’s ADA on Mobile

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The company behind a multi-asset, universal wallet that can store major crypto and smart contract tokens in one place says it has become the first mobile wallet to support the ADA cryptocurrency. Infinito Wallet says the milestone coincides with an update to version 1.15.0 of its platform – enabling users to “securely send, receive and check transaction history of ADA.” According to the company, this development is significant because very few wallets on the market support ADA, and there is no such app for mobile devices. Infinito developers have worked…

Ethereum Price Analysis: ETH/USD’s Recovery Won’t Be Easy

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Key Highlights ETH price is slowly recovering, but there are many hurdles on the upside near $224-225 against the US Dollar. There is a short-term ascending channel in place with support at $214 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $213 and $210 levels to recover further towards the $224 level. Ethereum price is struggling to gain traction against the US Dollar and bitcoin. ETH/USD is likely to face a strong selling interest near the $224 level. Ethereum Price Analysis Recently,…

Clients Request Dell to Tap Blockchain for Cloud Storage Innovation

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Technology giant Dell has outlined plans to invest in emerging tech like blockchain to retain its top position in India’s server market. The comments surfaced in light of Dell’s ambition to retain its top position in India’s server market. The multibillion-dollar tech giant received requests from its clients for tapping modern server solutions, confirmed Manish Gupta, senior director, and general manager of Dell EMC India. He told the Economic Times that Dell is looking to introduce newer products that would have the potential in the blockchain, as well as artificial…

Bitcoin Cash Price Analysis: BCH/USD Rallies Above Key Resistance

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Key Points Bitcoin cash price made a solid upward move and traded above the $500 barrier against the US Dollar. Yesterday’s highlighted important bearish trend line was breached with resistance at $442 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is now placed nicely in a bullish zone above the $500 and $510 support levels. Bitcoin cash price gained traction and rallied above $500 against the US Dollar. BCH/USD is consolidating and remains supported for more gains. Bitcoin Cash Price Analysis There was a…

Bitcoin (BTC) Price Watch: Will a Triangle Breakout Happen Soon?

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Bitcoin Price Key Highlights Bitcoin price is still consolidating in a triangle pattern visible on the 4-hour time frame after bouncing off the top. Price could be due for a test of support but could attempt another break past the triangle resistance. A breakout in either direction could lead to a rally or a selloff that’s the same height as the chart formation. Bitcoin price is still inside its triangle consolidation pattern but may be due for a breakout soon as it approaches the peak. Technical Indicators Signals The 100…

Chinese Tech Giant Baidu Releases ‘Super Chain’ White Paper

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Chinese search engine and web services company Baidu has released the Baidu Blockchain White Paper V1.0 on Wednesday, September 26, which describes the development of a “Super Chain” network system. Baidu Blockchain Lab released the blockchain white paper focused on “the independent development of the ‘Super Chain’ network system.” The paper introduces the idea of commercializing the Baidu cloud blockchain blockchain-as-a-service (BaaS) platform in addition to six applications based on the Super Chain; Totem, Degree Universe, Baidu Association, Treasure Chest, Encyclopedia Online, and Hubert. According to the white paper, Baidu’s…

LOBSTR Partners with DigitalBits to Launch XDB Wallet

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Popular cryptocurrency wallet LOBSTR, a leading supporter of Stellar Lumens (XLM) tokens, has partnered with loyalty rewards blockchain project DigitalBits (XDB) to launch a proprietary XDB digital wallet and form XDB Labs LLC. The new company will design a digital wallet to support custody and storage of XDB and various other digital assets on the DigitalBits blockchain. It will also work towards developing tools that appeal to a variety of customers in an effort to encourage adoption of the DigitalBits blockchain and associated assets. New developments will include protocols to…