Day: November 22, 2018

Bitcoin Cash Price Analysis: BCH/USD Struggling To Surpass 100 SMA

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Key Points Bitcoin cash price recovered above $260, but it struggled near 100 hourly SMA against the US Dollar. This week’s key bearish trend line was beached with resistance at $260 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently struggling to gain momentum above the $280 level and the 100 hourly SMA. Bitcoin cash price settled above the $250 level against the US Dollar. However, BCH/USD must break the $280 barrier and the 100 hourly SMA to gain traction. Bitcoin Cash Price…

Ethereum Classic Price Analysis: ETC/USD Could Recover Above $6.00

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Key Highlights Ethereum classic price declined towards the $5.00 support and recovered against the US dollar. There was a break above a key contracting triangle with resistance at $5.55 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is currently placed nicely above $5.40 and it could correct higher towards the $6.00 level. Ethereum classic price is slowly recovering against the US Dollar and Bitcoin. ETC/USD is likely to climb towards the $6.00 or $6.25 levels in the near term. Ethereum Classic Price Analysis Recently,…

Ethereum Token Hit by Malicious Minting Attack

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Twitter Facebook LinkedIn Ethereum Smart contract and dApp developer Level K has uncovered the existence of a vulnerability within the Ethereum framework that potentially allows bad actors to mint large amounts of GasToken when receiving ETH. In a blogpost published on November 21, the company revealed that the weakness has been flagged to most at-risk exchanges who have since effected software patches to contain the threat. Potential GasToken Security Weakness The vulnerability arises when ETH is sent to an address, which is then able to carry out arbitrary computations that…

Ripple Price Analysis: XRP/USD Facing Key Resistance Near $0.4500

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Key Highlights Ripple price is currently consolidating below the $0.4500 and $0.4600 resistances against the US dollar. There is a key contracting triangle formed with resistance at $0.4460 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is preparing for the next break either above $0.4500 or below $0.4280. Ripple price is trading in a tight range against the US Dollar and Bitcoin. XRP/USD may soon make the next move either above $0.4500 or towards $0.4000. Ripple Price Analysis Yesterday, we discussed that ripple price…

Ethereum Price Analysis: ETH/USD Signaling Positive Bias Above $130

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Key Highlights ETH price slowly recovered and moved above the $130 and $132 resistances against the US Dollar. Yesterday’s major bearish trend line was breached with resistance at $132 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to climb towards the $151 resistance level in the near term. Ethereum price is showing positive signs against the US Dollar and bitcoin. ETH/USD is likely to correct further above $140 towards the $150 level. Ethereum Price Analysis After forming a decent support base around the $122…

Bakkt Focused on Bitcoin for its Nature, Liquidity and Legal Status.

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Bakkt’s decision to postpone its Bitcoin (BTC) futures market caused disappointment in several members of the crypto community who were hoping to see a last bullish run in the prices of the popular cryptocurrency thanks to a possible increase in trading volume. However, despite the disappointment, Bakkt’s team has been emphatic in highlighting that a futures market in Bitcoin (BTC) WILL happen and that they are working hard on “get all the pieces in place” to ensure that its product meets every legal, technological and economic expectation associated with a…

University of Tokyo Adds Blockchain Class After $800k Gift from Ethereum

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Twitter Facebook LinkedIn The University of Tokyo began offering a blockchain course at its graduate engineering school, thanks to an $800,000 donation from a consortium that includes the Ethereum Foundation and Japanese banking juggernaut Sumitomo Mitsui. The class — called the “Blockсhain Innovation Donation Course” — was rolled out on November 1 and will run through October 2021, according to a statement by Sumitomo Mitsui. Other corporate donors included Good Luck Three, JSS Corp., Zipper Corp., Hotlink Co., and Money Forward Inc. Goal is to Cultivate Blockchain Entrepreneurs The purpose of…

XLM/USD Resilient As Investors Expect a CoinBase Listing

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Losses are deep and as price action trend below key support levels, altcoin recovery is a tall order. The only coin that could register gains assuming investors’ expectations are met is XLM. From candlestick arrangements, there seem to be underlying support because XLM/USD sellers are yet to drive prices below 15 cents triggering further draw downs. As this print, EOS/USD and XMR/USD pairs are trading below main supports. We expect to see more declines to $1.5 and $50 respectively. Let’s have a look at these charts: EOS/USD Price Analysis Even…

Bitcoin Cash Wars Force Giga Watts to File for Bankruptcy

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Earlier, Jihan Wu had warned that re-deploying hash rate from Bitcoin network to support Bitcoin Cash ABC could lead to a massive sell off across the market more so in BTC. We are already seeing that print and as BCH/USD prices drop days after forking, Giga Watt is unable to pay creditors. Latest Bitcoin Cash News Not only are payment processors, chip-set manufacturers and coin hodlers bleeding but the situation is so dire, Giga Watt is has cash flow problems. It has already filed for bankruptcy under Chapter 11 Bankruptcy…

Crypto Venture Capital Exec Compares Bitcoin to Post Dot-Com Bubble Amazon

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Lou Kerner, a partner at venture capital firm CryptoOracle, compared the current slump in crypto prices to the dot-com burst in the early 2000s in an interview with CNBC Nov. 21. On CNBC’s “Worldwide Exchange” show, Kern stated that strong coins should be viewed like the big companies that came out of the dot-com bubble, using the example of e-commerce giant Amazon: “If you go back to the internet bubble, which is what a lot of us in crypto look at for direction, Amazon, arguably one of the greatest companies…