Day: October 26, 2018

Is Bitcoin Primed to Initiate a Rally Above $7,000 After Weeks of Stability?

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Throughout the past ten days, the Bitcoin price has remained in a tight range from $6,300 to $6,500, rarely initiating a noticeable movement. The 1-day price chart of Bitcoin, as shown below, demonstrates nearly two weeks of stability in the lower price range of the dominant cryptocurrency, unable to engage in a short-term upside movement to confirm a breakout above a major resistance level. In the past 24 hours, the volume of BTC has fallen back to $3.1 billion from $3.5 billion, by more than 10 percent. The lack of…

Ripple Price Analysis: XRP/USD Remains Buy on Dips Near $0.4450

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Key Highlights Ripple price recently tested the $0.4600 resistance where sellers emerged against the US dollar. There is a connecting bullish trend line forming with support near $0.4500 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may perhaps continue to find buyers near the $0.4500 and $0.4450 levels in the near term. Ripple price is trading in a positive zone against the US Dollar and Bitcoin. XRP/USD remains buy on dips near the $0.4450 and $0.4400 support levels. Ripple Price Analysis After trading as…

Ethereum Price Analysis: ETH/USD Poised For Continued Weakness

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Key Highlights ETH price did not move higher above the $201 and $203 resistances against the US Dollar. Yesterday’s highlighted important bearish trend line is in place with resistance at $200 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline sharply if there is a downside break below the $196-197 support. Ethereum price is under pressure against the US Dollar and bitcoin. ETH/USD must stay above $196 to avoid a downside break in the near term. Ethereum Price Analysis During the past few hours, there…

North Korea is conducting fake ICO’s to fund the regime

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North Korea’s regime is using cryptocurrency scams and fake digital coin offerings to raise money for the government, new research on North Korea’s internet use reveals. One example is a company called Marine Chain, which launched in 2018 to allegedly offer partial ownership of maritime vessels in exchange for digital tokens. It is unclear exactly how much revenue the company raised, and six months later its website had been taken offline. But cybersecurity researchers from Recorded Future, who on Thursday released a report title Shifting Patterns in Internet Use Reveal Adaptable…

Bitcoin (BTC) Price Watch: Eyes on This Support Zone!

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Bitcoin Price Key Highlights Bitcoin price is still moving inside a range visible on its 1-hour time frame and looks prime for a test of support. Price has made it halfway down through the range and could have enough momentum for a move to the bottom. Technical indicators are also reflecting the presence of bearish pressure. Bitcoin price is still in consolidation and could be ready for another test of the short-term range support around $6,360. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to signal…

Bitcoin Cash Price Analysis: BCH/USD Remains At Risk Below $450

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Key Points Bitcoin cash price struggled to recover and it is currently moving lower against the US Dollar. Yesterday’s highlighted key bearish trend line is intact with resistance at $440 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair could break to the downside below $434 if there is no break above $440 and $445. Bitcoin cash price remains at a risk below $450 against the US Dollar. BCH/USD must break the $440 and $445 resistances to recover in the near term. Bitcoin Cash Price…

Poloniex Revised Terms of Use, Shutters Services in Several Countries

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With a revision to the popular exchange’s terms of use, users from a handful of jurisdictions will have their access to Poloniex shuttered. According to an October 18, 2018, update, “the websites and the services offered by Poloniex (as defined below) are NOT addressed to persons who have their registered office or place of residence in China, Germany, Pakistan, the U.S. states of New Hampshire, New York or Washington, Vietnam or any other Restricted Territories as defined in Section 37.” Section 37 goes on to detail that, in addition to…

Cryptocurrency ‘Illegal’ In India Says Trade Organization Head

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The head of an Indian nonprofit trade organization said cryptocurrency is “illegal,” and urged businesses to obey the law, local news daily the Hindu reported Thursday, Oct. 25. Debjani Ghosh, the president of the National Association of Software and Services Companies (NASSCOM), was cited by the Hindu saying that cryptocurrencies are illegal from NASSCOM’s perspective. NASSCOM is a nonprofit trade association of over 2,000 member companies for the Indian IT and business process outsourcing industries. “It is [the] law of the land and hence, we have to work with it,”…

Vietnam’s Largest Telecoms Company Enters Blockchain Sphere, Aims to Be Industry Leader

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The Viettel Enterprise Solutions Corporation has set a goal to become Vietnam’s leading blockchain technology provider in five years, local news outlet Viet Nam News reported Oct. 25. The Viettel Enterprise Solutions Corporation is a development and innovation wing of Vietnam’s largest telecommunications operator Viettel Group. The Viettel Enterprise Solutions Corporation was established earlier in October to focus on providing information and communication technology solutions to the governmental and commercial sectors, and to assist in building a digital government. Speaking at a workshop called “Blockchain at Viettel,” the company’s deputy…

Litecoin (LTC/USD) Price Analysis: LTC Steady above $50

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Price wise, LTCUSD is stable and still ranging/accumulating along $50. Though strong fundamentals are missing to back our bullish outlook and recommendation of short term buys with stops at $50, technical and favorable candlestick formation advises our upbeat forecast. Latest Litecoin News Thing is, Charlie Lee, the social-media active founder of the world’s seventh largest cryptocurrency, should be counting his victories. It all goes back to Mt Gox and his objective of working closely and even liaising with major world exchanges to offer support for Litecoin. Ever since MtGox announced…