Day: October 4, 2018

Ethereum Classic Price Analysis: ETC/USD Facing Significant Hurdle

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Key Highlights Ethereum classic price is struggling to break the $11.15-20 resistance area against the US dollar. There is a major bearish trend line in place with resistance at $11.20 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair needs to clear the trend line and $11.25 pivot level to gain upside momentum. Ethereum classic price stayed above key supports against the US Dollar and Bitcoin. ETC/USD must break the $11.20-25 resistance to test $12.00. Ethereum Classic Price Analysis Recently, ETC price declined below the…

Ripple Price Analysis: XRP/USD Approaching Key $0.5550 Resistance

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Key Highlights Ripple price traded towards the $0.5020 support during yesterday’s decline against the US dollar. There is a crucial bearish trend line formed with resistance at $0.5550 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently correcting higher, but buyers are likely to struggle near $0.5520 and $0.5550. Ripple price started an upside correction against the US Dollar and Bitcoin. XRP/USD is approaching towards the key resistance area near $0.5550. Ripple Price Analysis Yesterday, we saw a fresh decline below the $0.5400…

Ethereum Price Analysis: ETH/USD Recovering Towards $230

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Key Highlights ETH price found support near the $213-214 zone after yesterday’s decline against the US Dollar. There was a break above a key bearish trend line with resistance at $221 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently trading with a positive bias above the $218 and $220 levels. Ethereum price is slowly recovering against the US Dollar and bitcoin. ETH/USD is likely to correct further higher towards the $230 level in the near term. Ethereum Price Analysis Yesterday, we saw a major…

Bitcoin Unexpectedly Rises to $6,600, as Market Adds $5 Billion in Hours

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Within the past six hours, the cryptocurrency market has added $5 billion to its valuation as Bitcoin demonstrated an unexpected increase in its price. 1-day chart of total crypto market valuation, chart provided by Coinmarketcap.com Throughout the week, Bitcoin struggled to demonstrate recovery in its volume and momentum, as it fell below the $6,500 mark, a level which the dominant cryptocurrency managed to sustain for several weeks. Since August 9, the price of BTC has remained relatively stable in the range of $6,400 to $6,800. Apart from one instance in…

Coinbase Set to Speed Up Bitcoin Payments Introducing ‘Child Pays for Parent’ System

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Soon after launching three new products, digital platform Coinbase has come up with another update. The company is rolling out Child Pays for Parent (CPFP), a technique created with the aim to improve the reliability of Bitcoin transactions for customers. Blockchain transaction fees can be notoriously volatile. Learn how our engineering team is using a technique called Child Pays for Parent to improve the reliability of #Bitcoin transactions for our customers. #CPFP https://t.co/oRzxeqx9RM — Coinbase (@coinbase) October 3, 2018 Transactions in Bitcoin differ from that of a credit or debit card where fees…

Bitcoin Cash Price Analysis: BCH/USD is Facing Uphill Task

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Key Points Bitcoin cash price declined further and tested the $500 support against the US Dollar. There is a crucial bearish trend line in place with resistance at $530 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is likely to face a strong selling interest near the $530 and $535 levels in the near term. Bitcoin cash price found support near $500 against the US Dollar. BCH/USD is correcting higher, but it could face sellers near the $530-535 zone. Bitcoin Cash Price Analysis Yesterday,…

Bitcoin (BTC) Price Watch: Ready for a Long-Term Breakout?

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Bitcoin Price Key Highlights Bitcoin is now at the very end of its long-term triangle consolidation pattern, so a breakout could happen anytime soon. Price is currently testing the resistance around $6,600 and a long green candle closing above this could be enough to signal further gains. Technical indicators are giving mixed signals on the possible direction of a breakout. Bitcoin price could be ready to break out of its daily symmetrical triangle pattern, setting the longer-term direction. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA…

U-Turn: Novogratz Calls For Bitcoin (BTC) At $9,000 In 2019, Not 2018

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Novogratz Calls For $10k Bitcoin By EOY…. Or Not? Mike Novogratz, the CEO of Galaxy Digital, hit headlines all throughout the crypto industry over the two weeks, as the former institutional investor claimed that Bitcoin (BTC) would surge as 2018 breathed its last breaths. For those who aren’t in the loop, Novogratz, first claimed that crypto assets had bottomed in late September, taking to Twitter to convey his thoughts through a concise, yet informative image and accompanying message. As reported by Ethereum World News, the crypto permabull brought attention to an…

Abra Wallet and Exchange Service Introduces Token That Tracks Crypto Index

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Digital currency wallet and exchange Abra has launched support for a new token, BIT10, that tracks the Bitwise 10 Large Cap Crypto Index, according to an announcement published Oct. 3. The Bitwise 10 Large Cap Crypto Index was developed by cryptocurrency asset management firm Bitwise Asset Management and is reportedly listed exclusively on Abra. The index tracks the ten largest cryptocurrencies by market capitalization, currently representing 80 percent of the total crypto market capitalization. Per the announcement, any investor is now able to acquire the BIT10 token through the Abra…

Blockchain in Manufacturing Market Will Be Worth $500 Million by 2025

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A recent report by technology research company ReportLinker shows that blockchain technology in the U.S. manufacturing sector is expected to grow significantly from 2020–2025. While preparing the report, the authors split blockchain usage by application, end use, and territory. The study then divided the blockchain in manufacturing market based on end use into energy and power, industrial, automotive, pharmaceuticals, aerospace & defense, food and beverages, textile and clothing, and other sectors. According to the research, the blockchain in manufacturing market is expected to be worth $30 million by 2020 and…