Day: January 3, 2019

Ethereum Price Analysis: ETH’s Bullish Extension Above $150

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Key Highlights ETH price climbed higher sharply and broke the $150 resistance area against the US Dollar. There is a short term bullish flag pattern formed with support at $150 on the hourly chart of ETH/USD (data feed via Kraken). The pair is gaining momentum and it may extend gains above the $155 level in the near term. Ethereum price is trading nicely against the US Dollar and bitcoin. ETH/USD is placed nicely above the $144 support and it may continue to move higher. Ethereum Price Analysis Yesterday, we discussed…

Last Year’s Altcoin Army Have Become This Year’s Bitcoin Brigade

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Altcoins This time last year, altcoiners were jubilant at the soaring value of their respective cryptos, while gloating at BTC’s diminishing dominance. “Penny coins” such as Ripple, Iota, and Verge were rocketing, with fanboys decrying any media outlets that dared to “FUD” them. One year later, and most of those altcoiners have crawled back into the woodwork or returned to their first love – Bitcoin. Also read: Over 900 Retailers Worldwide Now Accept Bitcoin Cash What a Difference a Year Makes 2018 is commonly perceived as having been a bad year…

Indian Police Warn Public Against Investing in Cryptocurrencies

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The police of the Indian state of Jammu and Kashmir have issued a public statement, warning the public against investing in cryptocurrencies, local business news daily the Business Standard reported on Jan. 2. Police reportedly warned the public against the “heightened risk” of investments like Bitcoin (BTC) and reminded investors that cryptocurrencies are not sanctioned by the government. The Business Standard quoted the branch’s inspector general as saying: “The general public is informed not to make any type of investment in cryptocurrencies, virtual currencies such as Bitcoin because there is…

Thai National Tech Development Center to Introduce Blockchain in Voting

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The National Electronics and Computer Technology Center (NECTEC) of Thailand has developed blockchain technology for e-voting, the Bangkok Post reports on Jan. 2. NECTEC is a statutory government organization that operates under the purview of the National Science and Technology Development Agency and the Ministry of Science and Technology. The organization chiefly promotes the development of computing, electronics, IT and telecommunications. The technology reportedly can be deployed in tandem with traditional voting as Thais become more technologically literate. According to NECTEC, once 5G is eventually adopted, all votes will be…

Single Mining Pool Gains 50% of Bitcoin Cash Hashrate

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Bitcoin Cash mining centralization has reached a level where just one pool is controlling half of its hashrate, according to Coin Dance. The crypto statistics service found that BTC.TOP mining pool, a China-based private entity, took over as high as 50.2% of the entire Bitcoin Cash network at some point today. It contributed the hashrate of 679 Peta-Hash per second against other major competing pools including BTC.com (257 PH/s), ViaBTC (215 PH/s), AntPool (125 PH/s), and Bitcoin.com (187 PH/s). SOURCE: COIN.DANCE Bitcoin Cash and Centralization The notable increase could have…

New York Assemblyman Announces Creation of ‘First’ US Cryptocurrency Task Force

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An assemblyman of the New York state (NYS) legislature announced in a Facebook post on Jan. 3 that the state will have the nation’s “first” cryptocurrency task force. In the post, Clyde Vanel, an NYS assemblyman and Chair of Subcommittee on Internet and New Technologies, stated that New York became the first state in the United States (U.S.) to create a cryptocurrency task force aimed at studying the regulation, use, and definition of digital currency. The governor Andrew Cuomo signed the bill dubbed “The Digital Currency Study Bill” into law…

Bloomberg: Bitcoin (BTC) Technicals “Flash Buy” As Crypto Recovers

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Bitcoin (BTC) Technical Indicators Turn Bullish It’s 2019, and it seems that prospects are already looking bright for Bitcoin and the cryptocurrency market at large. According to a recent article posted by Bloomberg’s Vildana Hajric and Reade Pickert, a number of technical indicators/signals have begun show bullish signs, after a multi-month lull in crypto valuations. Per the two reporters, the GTI Vera Convergence Divergence indicator is suggesting BTC has entered its “longest buying streak in six months,” presumably due to the fact that the cryptocurrency hasn’t dropped drastically over recent…