Day: November 2, 2018

Bitcoin Cash Price Analysis: BCH/USD Rebound Faces Major Hurdle

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Key Points Bitcoin cash price is slowly recovering towards the key $430 resistance against the US Dollar. This week’s followed important bearish trend line is intact with resistance at $430 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair must break the trend line and $430 to gain momentum in the near term. Bitcoin cash price formed a decent support near $420 and recovered against the US Dollar. BCH/USD is now facing a solid resistance near the $430 level. Bitcoin Cash Price Analysis Yesterday, we…

‘Godfather of ETFs’ Says Bitcoin Exchange-Traded Funds Will be Approved ‘No Time Soon’

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Reggie Browne, the so-called “godfather of ETFs,” said that Bitcoin (BTC) Exchange-Traded Funds (ETF) will be certified “no time soon,” Business Insider reported Nov. 1. Browne is a senior managing director and head of ETF trading at financial services firm Cantor Fitzgerald. Founded in 1945, Cantor Fitzgerald focuses on institutional equity, fixed income sales, and trading. The company reportedly has over 5,000 institutional clients, which includes such fields as investment banking, prime brokerage, and commercial real estate. Speaking at Georgetown University’s Financial Markets Quality Conference in Washington D.C., Browne reportedly…

Africa Dominates P2P Bitcoin Exchange Paxful With $64 Million Trades

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Paxful Inc., a peer-to-peer bitcoin exchange, is seeing significant growth in Africa. The U.S.-based company said Africans now accounted for the largest number of people buying and selling cryptocurrency on its platform, with average monthly transactions totaling $64.5 million. Also Read: Brazilian Banks Ordered to Reopen Cryptocurrency Exchange’s Frozen Accounts Millennials Drive Cryptocurrency Adoption in Africa Over the past year, users from the African continent of 1.2 billion people soared by 225 percent, Ray Youssef, chief executive officer of Paxful, told South African media. Transactions on the exchange climbed 60 percent…

Bitcoin is a New Institutional Investment Class

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Twitter Facebook LinkedIn There is a rapidly growing interest in bitcoin and other cryptocurrencies among institutional investors while there seems to be lethargy in the number of retail buyers operating within the space. As such, bitcoin and altcoins now constitute a new institutional investment class since 2017, according to new research from major US bank Morgan Stanley. In the report titled “Bitcoin Decrypted: A Brief Teach-in and Implications” and dated Oct. 31, the multinational investment bank’s research department gave an overview of the last six months of bitcoin and brought…

ADA/USD Sink and Stabilize Below 7 cents

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Even if prices are low and on-chain development slow, Charles Hoskinson and Cardano are literally hitting milestones. Though it could take a decade or more before Voltaire, once it goes live Cardano might easily outperform competing platforms. This is so because Cardano’s foundation is thorough with scientific verification. Price wise ADA/USD is technically bearish. Unless there are strong moves above Oct 29 highs and key liquidating resistance trend line, bulls stand no chance. Latest Cardano News Any altcoin is as good as the team behind it. That has been the…

Altcoins Register Minor Gains, Still Bearish

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The stability of altcoins should be another opportunity to sell according to trend definition of Oct 11. Subsequent confirmations of Oct 29 did place the lid on buyers even though prices are leveling out. But, it could get worse if losses print today. On the reverse side a stream of boosting fundamentals could propel pairs as IOT/USD, LTC/USD and even EOS/USD above key resistance levels relieving coin holders. Let’s have a look at these charts EOS/USD Price Analysis Market participants are beat out. It’s not by bears but by the…

Bitcoin (BTC) Price Watch: Aiming for $7,000 Next?

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Bitcoin Price Key Highlights Bitcoin price is gaining traction on it bounce off the channel support on its 4-hour time frame. A move to the next upside targets might be in the works and the Fibonacci extension tool marks these. Technical indicators are hinting at weakening bullish momentum, though. Bitcoin price looks ready to resume its climb and might aim for these upside targets marked by the Fib tool. Technical Indicators Signals The 100 SMA seems to be crossing below the longer-term 200 SMA to indicate that bearish pressure might…

Crypto Investment Firm’s Revenue Reaches Record $330 Mln in 2018, Despite Bear Market

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Cryptocurrency asset management firm Grayscale Investments Inc. has reported revenue of nearly $330 million in 2018, according to its third quarter (Q3) investment report released Nov. 1. The company managed to reach this figure despite a prevailing bear market. In the report, Grayscale highlights that it raised $81.1 million over the last three months, which brought the firm’s year-to-date inflows to almost $330 million, representing an increase of almost 1,200 percent from the same period in 2017, when the company raised $25.4 million. The current year is the strongest Grayscale…