Day: November 30, 2018

Bitcoin Price Watch: BTC/USD Could Extend Correction Below $4,100

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Key Points Bitcoin price struggled to break the $4,400-4,440 resistance and declined against the US Dollar. There was a break below yesterday’s bullish trend line with support at $4,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently at a risk of more losses below the $4,100 and $4,080 support levels. Bitcoin price formed a short term top near the $4,440 level and declined against the US Dollar. BTC/USD is likely to correct lower towards the $4,000 support in the near term. Bitcoin…

Zcash Climbing as Coinbase Pro Launches ZEC Trading

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There can be no better boost for a cryptocurrency during hard times than a major exchange listing. They come no bigger than Coinbase which has recently announced that it would be adding Zcash to its Pro trading platform. In a company blog post yesterday Coinbase revealed that it would be enabling Zcash deposits on November 29. Deposits will be accepted for 12 hours before trading is opened and sufficient liquidity for the ZEC/USDC pair has been reached. The post also noted that ZEC trading will only be available for customers…

UBS Executive Paul Donovan Blasts Bitcoin Again, States Cryptos Are ‘Fatally Flawed’

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Swiss bank UBS’ Wealth Management Global Chief Economist and infamous Bitcoin skeptic Paul Donovan doubled down on his distrust of cryptocurrency Nov. 29, calling it “fundamentally flawed.” Speaking to CNBC’s Fast Money segment, Donovan, who earlier this week released an internal blog post titled “I come to bury Bitcoin, not to praise it,” repeated his criticism of the innovative financial instrument. “I think anyone with a high school education in economics has been a Bitcoin skeptic right from the start,” he told the network, adding: “These things were never going…

Bears in Control ahead of Cardano 1.4 Update

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Latest Cardano News The good thing about Cardano is their regular update which in turn gives a clear picture on the development progress of Byron and Shelly. Days after Michael Person resigned and Paul Schmid given the task of leading the foundation and promoting their peer-reviewed platform and technology, ADA prices have been on a free fall—sinking to new 2018 levels. Read: Cryptocurrency Prices Hold Steady, Could Be More Losses Ahead Nevertheless, floors are now visible thanks to a wave of bull pressure that swept the market across on Nov…

BP And Shell’s Blockchain-Based Oil Trading Platform Goes Live

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Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. A blockchain-based trading platform that could assist oil majors and trading firms to drastically reduce costs is now operational. Known as Vakt, the platform which was created last year by a consortium consisting of Anglo-Dutch oil giant Shell and British Petroleum (BP), went live on Wednesday, according to Reuters. Other members of the consortium include global commodity trading firm Gunvor Group, Norwegian energy firm Equinor and energy…

Price Stall at $4,300 as The US OFAC “sanction” Bitcoin Addresses

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Latest Bitcoin News In a laughable move, the United States Treasury Department Office of Foreign Assets Control has issued “sanctions” against two Bitcoin addresses–149w62rY42aZBox8fGcmqNsXUzSStKeq8C and 1AjZPMsnmpdK2Rv9KQNfMurTXinscVro9V—belong to two Iranians–Ali Khorashadizadeh and Mohammad Ghorbaniyan, accused on assisting hackers launder their Bitcoin proceeds. The Bitcoins obtained from victims of a SamSam ransomware scheme were converted to Iranian Rial. With the ban, the OFAC said that users from the US who send any amount of BTCs to the said address will be liable to secondary sanctions. Furthermore, they are calling for individuals within compliance and…

Ripple Price Analysis: XRP/USD Likely To Climb Toward $0.42

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Key Highlights Ripple price is placed nicely above the $0.3700 and $0.3615 support levels against the US dollar. Yesterday’s highlighted crucial ascending channel is intact with support at $0.3620 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair remains supported on dips and it could continue to move higher towards $0.4000 and $0.4200. Ripple price is positioned nicely for more gains against the US Dollar and Bitcoin. XRP/USD is likely to accelerate gains towards the $0.4200 level in the near term. Ripple Price Analysis Yesterday,…

Ethereum Price Analysis: ETH/USD Holding Key Support At $112

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Key Highlights ETH price corrected lower recently after forming a high near $125 against the US Dollar. There is a short term declining channel or flag formed with resistance at $120 on the hourly chart of ETH/USD (data feed via Kraken). The pair must break the $119 and $120 resistance levels to climb higher in the near term. Ethereum price is currently correcting against the US Dollar and bitcoin. ETH/USD must settle above $120 to resume its upside move above $124-125. Ethereum Price Analysis Yesterday, we saw a fresh weekly…

Floyd Mayweather & DJ Khaled charged by SEC for promoting ICOs without disclosing payments

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Reported by CNBC, pro boxer Floyd Mayweather and music producer DJ Khaled pumped up initial coin offerings without telling investors they were getting paid a promotional fee, according to a settlement announced Thursday. The Securities and Exchange Commission said they are the first cases to charge touting violations regarding ICOs, a relatively new phenomenon that has attracted billions of investor dollars to new cryptocurrencies, often with little to back them up. Mayweather didn’t disclose a $100,000 promotional payment from Centra Tech Inc., while Khaled didn’t disclose a $50,000 payment. The…

Developers Rally Around Ethereum 1x, A New Roadmap for Faster Scaling

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An influx of research and development is beginning to form around ethereum 1x, a proposed upgrade that aims to more quickly improve the usability of the world’s third-largest blockchain. While the exact code changes that will comprise the upgrade have yet to be settled, active discussions suggest a myriad of different proposals could be activated by June 2019, should a final proposal ultimately be formulated, proposed and approved by users of the ethereum network. Still the plan, first reported by CoinDesk last week, is in its early stages of development.…