Day: October 19, 2018

Bitcoin Volume Approaches Yearly Low Again, Market Deletes $6 Billion

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Over the past 48 hours, the volume of Bitcoin (BTC) has fell substantially from over $5 billion to $3.8 billion, and is quickly moving to its yearly low. On CoinCap.io, ShapeShift’s official cryptocurrency market data provider, the volume of Bitcoin remains at around $2.54 billion. If the volume of BTC drops by around 15 percent in the days to come, then a new yearly low could be reached. The low volume of Bitcoin is a concerning indicator for the short-term trend of the market because since early August, BTC has…

Ethereum Price Analysis: ETH/USD Bearish Below 100 SMA and $206

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Key Highlights ETH price declined further and traded below the $205 and $200 support levels against the US Dollar. There was a break below a major bullish trend line with support at $204 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently struggling below the $206 resistance and the 100 hourly simple moving average. Ethereum price is back in a bearish zone against the US Dollar and bitcoin. ETH/USD may continue to move down towards the $196 and $190 supports. Ethereum Price Analysis Recently, ETH…

Bitcoin (BTC) Price Watch: Are Bears Back in the Game?

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Bitcoin Price Key Highlights Bitcoin price appears to be turning from the resistance at the top of its descending triangle on the 4-hour chart. Price could be making its way back to the bottom of the triangle again from here. Technical indicators are also reflecting the presence of selling pressure that could keep gains in check. Bitcoin price seems to be having trouble sustaining its earlier climb as the top of the descending triangle is holding as resistance. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA…

Bitcoin Cash Price Analysis: BCH/USD Turned Sell on Rallies Near $440

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Key Points Bitcoin cash price declined further and traded close to the $420 support level against the US Dollar. There is a new bearish trend line in place with resistance near $435 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is likely to face a lot of selling interest if it trades towards $440 or $450. Bitcoin cash price is back in a bearish zone below $450 against the US Dollar. BCH/USD could continue to face a lot of selling interest near the $440-450…

Bitcoin Hedge Fund and CEO Slapped With $2.5 Million Penalty for Ponzi Scheme

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A New York federal court has ordered cryptocurrency hedge fund Gelfman Blueprint, Inc. (GBI) and its CEO Nicholas Gelfman to pay over $2.5 million for operating a fraudulent Ponzi scheme, according to an official announcement published Oct. 18. GBI is a New York-based corporation and denominated Bitcoin (BTC) hedge fund incorporated in 2014. As stated on the company’s website, by 2015 it had 85 customers and 2,367 BTC under management. The order is the continuation of the initial anti-fraud enforcement action filed by the U.S. Commodity Futures Trading Commission (CFTC)…

Bermuda Government Approves First ICO Under New Regulatory Regime

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The government of Bermuda has awarded the first certification for an Initial Coin Offering (ICO) under the island nation’s new regulatory regime for crypto and blockchain business, the country’s only daily newspaper, the Royal Gazette reports Oct. 18. According to the Royal Gazette, the Minister of National Security Wayne Gaines — whose office oversees ICT policy and innovation — announced that fintech company Uulala was awarded certification by the Bermudan government today at the Bermuda Executive Forum in Miami. In July, the Premier and Minister of Finance of Bermuda David…

Every Low a Buying Opportunity for ADA Bulls

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Regardless of the politics around ZRX CoinBase listing, ADA could possible bottom up despite yesterday’s losses. Overly, we maintain a bullish stand now that there has been a strong correction from 2017 highs with bears threatening to dip below ADA’s all-time-lows at 6 cents. Latest Cardano News As I type this, ZRX, an ERC-20 token of The Ox protocol is live at CoinBase. Well, the results are obvious and have been the source of anger, postulation and criticism moments after CoinBase availed ZRX for their US customers. While some of…

Chinese Bitcoin Mining Equipment Manufacturers Suffer Setback as Trump Increases Tariffs

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Bitmain’s $3 billion initial public offering (IPO), as well as that of other Chinese bitcoin mining equipment manufacturers such as Canaan and Ebang, may be adversely affected by the June categorization of the firm’s Antminer S9 ASICs miners as “electrical machinery apparatus.” The move by the U.S government added the equipment to the list of Chinese goods subject to nearly 30 percent tariffs, up from zero previously, reported the South China Morning Post on October 16, 2018. Chinese-U.S Trade War Bad for Bitmain and other Chinese ASICs Makers As reported…

Monero Upgrade While Bulls Struggle to Register Gains

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Overly, there is expectation in the space. Thanks to a successful Monero hard fork, the new “Segwit” mean transactions would cost less. At the same time, the new confirmation from Tron about their “partnership” with Baidu should keep the market vibrant as bulls prepare for gains above 3 cents. Let’s have a look at these charts: EOS Price Analysis To curb money laundering or terrorist financing, most crypto exchanges and fiat-crypto processors demand users to submit personal details as part of their KYC and AML requirements. https://t.co/LgcclYjBIb President Rob Jesudason…

Tether Has Yanked $610 Million out of Circulation this Month

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Tether Limited, issuer of the dollar-pegged cryptocurrency tether (USDT), has yanked nearly a quarter of the controversial stablecoin’s market cap out of circulation since the beginning of October. On Wednesday, cryptocurrency exchange Bitfinex sent another 50 million USDT to the Tether Treasury, marking the sixth time this month that the company — which shares a management team with Tether — pulled USDT out of circulation by depositing them into the treasury address. Tether has not issued any new tokens in October, and the last time that new tokens entered circulation was…