Day: November 9, 2018

Bitcoin Price Eyes $6.2K Amid Further Drop into Bear Territory

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Bitcoin’s reversal of the recent uptrend in prices is gathering pace and a drop into a bearish territory below $6,200 is now a possibility, technical charts indicate. The leading cryptocurrency found acceptance below the lower edge of the rising channel yesterday, invalidating the bullish price action witnessed earlier this week. Essentially, the rally from the Oct. 31 low of $6,201 has ended at a high of $6,540 reached on Nov. 7. At press time, BTC is trading at $6,350 on Coinbase, having clocked a five-day low of $6,335 soon before…

Cities in China are Using Blockchain to Track Parolees

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Twitter Facebook LinkedIn At least two Chinese cities are using blockchain technology to track offenders on parole, CCN has learned. In the city of Foshan, a report from May indicates that officials would like to deck their system out with bracelets similar to those issued in western countries. In the city of Zhongshan, which is in the same province as Foshan (Guangdong), the system will reportedly transcend boundaries previously in place for community corrections officials, such as when data regarding parolees was available to them. Both cities are essentially using…

VanEck’s Chief Strategist Eyes Multi-Billion Dollars Investment in Bitcoin ETF

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The launch of the first Bitcoin exchange-traded fund (ETF) could witness the space attracting as little as a few billion dollars, predicted Gabor Gurbacs. The director of Digital Assets Strategy at VanEck made the bullish prediction during an interview with CNBC Crypto Trader hosted by Ran Neuner, while explaining the possible outcomes from a successful Bitcoin ETF launch. He acknowledged that there would be a likelihood of institutional dollars coming into the Bitcoin industry via securities, mainly because ETFs will be better prepared to maximize investor protection and minimize counterparty risks.…

ConsenSys’ Kaleido, Amazon Web Services Launch ‘Blockchain Marketplace’ for Enterprises

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ConsenSys’ blockchain startup Kaleido and Amazon Web Services (AWS) have launched a full-stack platform that helps enterprises implement blockchain solutions, according to a press release published Nov. 8. The platform, dubbed Kaleido Marketplace, reportedly “eliminates 80 percent of the custom code” needed to build a given blockchain project by providing an array of full-stack tools and protocols that are “plug-and-play,” spanning needs from back-end development to front-end app user interfaces. According to the press release, Marketplace clients can access native integrations with AWS cloud, as well as swiftly implement solutions…

Bitcoin Price Watch: BTC/USD Trading Near Major Inflection Point

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Key Points Bitcoin price declined further and traded below the $6,440 support against the US Dollar. Yesterday’s highlighted key bullish trend line with support at $6,445 was breached on the hourly chart of the BTC/USD pair (data feed from Kraken). The price tested the next important support at $6,375 and later started consolidating losses. Bitcoin price failed to stay above the $6,440 support against the US Dollar. BTC/USD is currently consolidating above the $6,375 support with bearish moves. Bitcoin Price Analysis Recently, bitcoin price started a downside correction and traded…

Crypto Investors Can Now Buy Aircraft With Binance Coin (BNB)

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Although many pundits disagree on the short-term prospects for digital assets, the push for adoption is a bandwagon that crypto investors, insiders, and leaders alike can easily hop onto. Hence why many were over the moon, so to speak, when Changpeng Zhao revealed that Binance Coin (BNB), an ERC20 token on Ethereum, could be used to purchase an aircraft. Binance CEO: “#UseBNB To Buy Airplanes” On Thursday, Aeron, a startup with aspirations of “saving people’s lives” through blockchain technologies, revealed that one of its ventures, Pilot Shop, had listed an…

Cardano Price Analysis: ADA/USD Could Correct Towards $0.075

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Key Highlights ADA price traded above the $0.0800 resistance before correcting lower against the US Dollar (tethered). There was a break below a major bullish trend line with support at $0.0785 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair remains at a risk of more declines below the $0.0770 and $0.0760 levels in the near term. Cardano price is currently correcting lower against the US Dollar and Bitcoin. ADA/USD could slide towards $0.0750 if sellers remain in action in the coming sessions. Cardano Price…

Canadian Bank Set to Launch Uncheckable ‘Deposit Box’ for Cryptocurrency

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A subsidiary of Canadian financial institution VersaBank confirmed it had finished beta testing of a “digital vault” for storing cryptocurrency in a press release Nov. 8. VersaVault, which announced its so-called “digital safety deposit box” in February, is aiming to attract crypto exchanges and funds as clients for the new tool. The product provides cryptocurrency storage on servers dotted throughout the world, the deposit box element lying in the fact the bank itself can neither brute force the digital ‘boxes’ nor know their contents. “While many are considering ideas and…

Ripple Price Analysis: XRP/USD Under Pressure Below $0.5200

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Key Highlights Ripple price declined recently and broke the $0.5200 support zone against the US dollar. There is a major bearish trend line in place with resistance at $0.5200 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may struggle to move back above the $0.5200 resistance and the 100 hourly simple moving average. Ripple price failed to hold gains against the US Dollar and Bitcoin. XRP/USD may slide further towards the $0.4790 support level in the near term. Ripple Price Analysis During the past…

Chinese School Officials Caught Mining Ethereum On School Property

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Twitter Facebook LinkedIn Local Chinese news outlet HK01 reports that teachers at Puman Middle School in Chenzhou, Hunan Province have been caught mining Ethereum on school property. The operation went on for the last several months and did not go entirely unnoticed – people had complained that the computers in the school were making an awful lot of noise. Source: HK01.com The mining operation apparently even bogged down the school network, making it hard for teachers to do their jobs. Eventually the teachers sought answers and uncovered the mining rigs…