Day: November 6, 2018

Ethereum Classic Price Analysis: ETC/USD Could Revisit $10

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Key Highlights Ethereum classic price recovered recently and moved above the $9.00 resistance against the US dollar. There was a break above a major bearish trend line with resistance at $9.10 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is currently struggling to settle above the $9.50 and $9.60 resistance levels. Ethereum classic price recovered a few points against the US Dollar and Bitcoin. ETC/USD is currently correcting lower towards the $9.25-9.30 support. Ethereum Classic Price Analysis After trading as low as $8.74, ETC…

Is Initiative Q the Next Bitcoin?

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If you’ve been anywhere near social media in the past fortnight, or even used your favorite messaging app, there’s a good chance you’ve been shilled a referral link to Initiative Q. A mate probably forwarded it to you or tagged you in a post offering an invite to the first five responders. Maybe you FOMO’d in, or maybe you scrawled a one-word response — “Bitconeeeeect!” — and gave it a wide berth. For those who are still on the fence, here’s what you need to know about Initiative Q. Also read:…

Ripple Price Analysis: XRP/USD Rally Gains Pace Above $0.50

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Key Highlights Ripple price surged higher recently and broke the $0.4700 and $0.5000 resistances against the US dollar. There is a short term connecting bullish trend line formed with support at $0.5000 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently placed nicely in a bullish zone and it could accelerate above $0.5140. Ripple price rallied recently against the US Dollar and Bitcoin. XRP/USD is currently correcting, but dips remain well supported near $0.5000 and $0.4950. Ripple Price Analysis Yesterday, we discussed that…

PwC Is Advising (Not Auditing) Another Stablecoin Project

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The Hong Kong division of global accounting and consulting firm PwC is exploring the best practices for issuing stablecoins, as part of an initiative with the non-profit Loopring  Foundation. Announced Tuesday, PwC Hong Kong’s Asia-focused study on stablecoins follows a PwC partnership in the U.S. to advise decentralized lending platform Cred, which is working on a U.S. dollar-tied coin. Stablecoins or one sort or another are suddenly all the rage, with the likes of Circle issuing its dollar-backed USDC on exchange giant Coinbase, and even big players like IBM getting in on…

Bitcoin Cash Price Analysis: BCH/USD Approaching Next Key Break

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Key Points Bitcoin cash price is currently consolidating above the $535 support against the US Dollar. There is a key contracting triangle formed with resistance at $570 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is likely to make the next move either above $570 or below $550 in the near term. Bitcoin cash price is preparing for the next move against the US Dollar. BCH/USD could rally once again if there is a break above the $570 resistance. Bitcoin Cash Price Analysis Yesterday,…

Younger Germans More Inclined to Invest in Cryptocurrencies

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More than a quarter of younger Germans is ready to buy cryptocurrencies, according to a recent poll by the German Consumer Centers of Hesse and Saxony published Monday, Nov. 5. Consumer Centers are non-profit, government-backed agencies organized at state level unions. They focus on consumer protection in addition to providing advisory services. The centers of two German federal states, whose populations total over 10 million people, have conducted a joint survey among internet users. According to the local business media Wirtschaftswoche, the survey polled 1,000 Germans between the ages of…

Swiss Financial Watchdog Recommends Banks Set Crypto Risk Coverage at 800%

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The Swiss Financial Market Supervisory Authority FINMA has advised banks and other financial institutions to estimate risk coverage for cryptocurrencies at 800 percent of current market value, Cointelegraph auf Deutsch reports today, Nov. 5. Major local news portal Swissinfo reportedly saw a copy of a confidential letter from FINMA to the Swiss Association for Audit, Tax and Fiduciary (EXPERTsuisse), which explains the watchdog agency’s stance on capital buffers for crypto assets. In the letter, FINMA recommends financial service providers to allocate a flat risk weight of 800 percent for “to…

Bitcoin (BTC) Transaction Count On The Rise: Bullish, Not Bearish Indicator

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On-Chain Bitcoin Transaction Count “Inches Upward” With another week, comes another insightful report from Diar, the crypto industry’s leading newsletter. In the publication’s most recent edition, which was released on Monday morning, Bitcoin (BTC), the so-called “king” of the crypto market, evidently remained a topic of focus. We’ve published our latest issue for your read:Grayscale Sees Record Inflows, But Interest Slightly Wanes#Crypto Exchange Funding Passes $1Bn Mark Post Coinbase Raise#Bitcoin Hashrate Stalls, Transactions Inch Up-Op-Ed by Jackson Palmer (@ummjackson)https://t.co/JPGwQXd9XR — Diar (@DiarNewsletter) November 5, 2018 Interestingly, Diar’s researchers touched on…

Marshall Islands President Faces No Confidence Vote Due to National Crypto Plans

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The President of the Republic of the Marshall Islands Hilda Heine faces a vote of no confidence due to her administration’s plans to introduce a national digital currency, Radio New Zealand News (RDZ) reported Nov. 5. The Marshallese parliament initially endorsed the creation of the national digital currency,  which would be called the Sovereign (SOV), in February of this year. Set to be issued before the end of 2018, the SOV would be used along with the U.S. dollar, which the country uses as its official currency. Heine said then…

SEC Streamlining ICOs a Huge Boost for Ethereum

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Even though there is a lot of legitimate concerns around the legality of ICOs, the SEC is about to streamline the space creating clear distinction between digital assets that are securities and utilities. Once these guidelines go live then Ethereum as a smart contracting platform and a go-to blockchain for coin issuance could see increasing demand drive prices above key resistance levels. Latest Ethereum News That ICOs are a disruptive but innovative way of raising funds is true. It’s also true—according to previous SEC interpretations that most projects financed in…