Day: May 1, 2019

Bitcoin and Ether Market Update: May 01, 2019

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The total crypto market cap increased by $5.3 billion since Monday, April 29 and now stands at $175.6. Top ten currencies are all in green for the 24-hour period with Bitcoin Cash (BCH) and Litecoin (LTC) being the best performers with 13 percent and 7 percent of gains respectively. At the time of writing bitcoin (BTC) is trading at $5,312 on the Bitstamp daily chart, while ether (ETH) stands at $159 and Ripple’s XRP climbed to $0.32. BTC/USD We continue to follow the Bitfinex saga as the BTC/USD pair is…

Turkey: The Country Where Crypto Exchanges Are Beating the Bear Market

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With the Turkish lira dropping to a six-month low against the dollar last week, bitcoin is continuing to pick up even more traction in Istanbul. Andy Cheung, head of operations at the global crypto exchange OKEx, told CoinDesk that over 30,000 Turkish users signed up for the platform since it expanded services to Turkey on March 26. Turkey’s growth as a leading bitcoin market is supported by other data as well. “Turkey is without a doubt the only country that boasts of a high percentage of independent crypto-ownership in Europe…

Bitcoin (BTC) Price Signaling Bullish Continuation Above $5,400

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Bitcoin price gained bullish momentum and broke the $5,200 resistance against the US Dollar. The price even broke the $5,300 level and it is currently trading with a positive bias. Yesterday’s discussed key bearish trend line was breached near $5,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair traded towards the $5,380 resistance level and it could continue to move higher. Bitcoin price finally gained traction above $5,200 and $5,300 against the US Dollar. BTC price is back in a bullish zone and it…

Crypto Market Smashes Resistance: Bitcoin Cash, Litecoin, EOS, ADA Analysis

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The total crypto market cap climbed higher sharply and broke the key $170.0B resistance. Litecoin (LTC) price is up more than 6% and it recently broke the $74 resistance Bitcoin cash price surged more than 13% and surpassed the key $270 barrier. EOS price is slowly grinding higher towards the $4.85 and $4.90 resistance levels. Cardano (ADA) price is up more than 5% and broke the $0.0680 resistance level. The crypto market cap cleared many hurdles, with positive moves in bitcoin (BTC) and Ethereum (ETH). Altcoins such as bitcoin cash,…

Ripple (XRP) Price Poised for Further Appreciation: BTC, ETH Jumps

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Ripple price started a decent upward move and broke the $0.2960 resistance against the US dollar. Both bitcoin and Ethereum recovered and gained more than 2.5%. There is a short term breakout pattern forming with resistance near $0.3085 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue higher and it is likely to test the $0.3175 and $0.3200 resistance levels. Ripple price starts a decent rebound against the US Dollar, along with bitcoin. XRP is currently trading with a positive bias and looks…

Ethereum (ETH) Price Starts Much Awaited Rebound To $170

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ETH price formed a support base near the $150 level and recently recovered higher against the US Dollar. The price climbed above the $155 and $158 resistance levels to move into a positive zone. There is a connecting bullish trend line forming with support near $158 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently trading with a positive bias and it could recover towards $165 and $170. Ethereum price started a decent rebound versus the US Dollar and bitcoin. ETH is now placed nicely…

Bitcoin (BTC) Dumping To $4,600 Might Be On The Horizon: Analyst

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Bitcoin Chart Showing “Strong Warning Signal” Since April 1st, the price action seen with Bitcoin (BTC) has been monumental. For the first time in months, the cryptocurrency market has rallied strongly and, more importantly, held gains. However, one analyst claims that Bitcoin’s rally is soon to end, and may be followed by a plunge to important support levels. In a recent Twitter thread, Crypto Birb noted that Bitcoin’s weekly chart is “providing quite a strong warning signal for bulls.” He notes that the chart has seen a number of “spinning…

A Bitcoin (BTC) Bull Run Is Inbound, Long-Term Trends Show

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Bitcoin May Soon Rally Strongly Again Bitcoin (BTC) may have collapsed by 7% last week off news that Tether’s USDT might not be entirely backed, but one long-term-centric analyst argues that technicals still look bullish for the asset. In a recent series of tweets, Dave the Wave, a popular trader that likes to focus on Bitcoin’s multi-year cycles, noted that long-term indicators are currently signaling that BTC is poised to break out. As seen below, Bitcoin recently rebounded off its 50-month moving average, which supported the value of BTC through…

ITIF Releases Guide to Regulating Blockchain for Policymakers

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The Information Technology & Innovation Foundation (ITIF) released recommendations for policymakers on how to regulate blockchain technology on April 30. Founded in 2006, ITIF is an independent nonprofit institute that provides policymakers with information, analysis and recommendations for handling new technology. In its new guide, ITIF included an array of proposals for policymakers to better regulate blockchain based on principles like technology neutrality and public-sector adoption. The guide predicts that blockchain will likely factor into major applications such as cryptocurrencies, shared data services, smart contracts, decentralized marketplaces, authenticity tracking, and…

Bitcoin Doesn’t Satisfy the Principles of Currency

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By CCN: Dave Ramsden, deputy governor for markets and banking at the Bank of England, said in an interview with CNBC that crypto assets like bitcoin are too volatile to be a store of value and they do not meet the principles of currency. Citing the research of the Financial Policy Committee (FPC), Ramsden stated that the high volatility and the relatively high costs of crypto transaction settlement make cryptocurrencies less practical as currency. Volatility Could be an Issue for Bitcoin and Crypto but Time Will Fix It For any…