Day: May 6, 2019

Bitcoin Price Analysis: BTC/USD Price Facing $5,840

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Photo: Unsplash Key Highlights: The Bears are gradually taking over the Bitcoin market; the breakdown at $5,946 level will expose $5,840 support level; the Bitcoin price may bounce at $5,840 level. BTC/USD Medium-term Trend: Bullish Resistance levels: $5,978, $6,151, $7,271Support levels: $5,840, $5,716, $5,574 On the medium-term outlook, BTC/USD remains bullish. There was an increase in the Bulls momentum which broke up the Bitcoin level at $5,716 and the resistance level of $5,910. The Bullish trend extended up to $6,151 level on May 03, it pulled back and on the…

CFTC ‘Can Get Comfortable’ With Ether Futures Product, Says Anonymous Official

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United States regulator the Commodity Futures Trading Commission (CFTC) is open to the idea of ether (ETH) futures trading, cryptocurrency industry news outlet CoinDesk reported on May 6. The publication quoted an unnamed official, who appeared to say that ETH-based futures would be a reasonable product for consideration and approval should it meet the CFTC’s various requirements. The comments come around 18 months after the first cryptocurrency futures contracts got the green light from the U.S. in December 2017. Launched by CBOE and CME Group, both futures contracts focused exclusively…

Apple Watch Owners Can Now Receive Bitcoin Through New Lightning App

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Photo: bluewallet / Twitter Bluewallet (a lightning network wallet) launched a new application for Apple watch that allows users make Bitcoin transactions. This became possible due to the new and promising Lightning technology. The version of Bluewallet App for a watch is extremely simple. To perform a transaction it is only necessary to acquire a QR code that the other user will have to scan for receiving or sending payments. According to Product and UX engineer Nuno Coelho provided by CoinDesk, now they contemplate this application more as an experiment.…

Dominant Bitcoin Slips on Monday, Drags Crypto Index Down by $8.7 Billion

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By CCN.com: Dominant crypto asset bitcoin sent fresh shivers through the rest of the cryptocurrency market with its latest plunge. The bitcoin-to-dollar exchange rate dropped as much as 2.66-percent on Monday to establish an intraday low towards $5,569.71. The move brought bitcoin’s total downside correction from its weekly high to 4.58-percent, wiping more than $3.5 billion on the way. BITCOIN PRICE WIPED OVER $3.5 BILLION OFF ITS SLATE THIS WEEK | SOURCE: COINMARKETCAP.COM Other assets listed in the cryptocurrency index followed bitcoin’s sentiment. Ethereum, the second-largest crypto by market capitalization,…

Bitfinex Reveals $1 Billion Token Sale Despite $850 Million Tether Scandal

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By CCN.com: Still mired in controversy over that $850 million loss, the powers at be at Bitfinex have come up with an idea to replace the funds and it’s raising eyebrows for a bounty of reasons. Bitfinex’s solution to try to make whole those who were burned in the hack that led to the losses is to issue more tokens. Specifically, the plan is to issue $1 billion of a token called LEO. Skeptics immediately weighed in as the news of this plan went viral over the weekend. Concerns include…

Bitfinex’s Bitcoin Price Excluded from CoinMarketCap Average Calculation

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Cryptocurrency data provider CoinMarketCap has excluded bitcoin prices provided by the troubled Bitfinex exchange from its weighted average calculation. Now, when checking BTC/USD data on CoinMarketCap, it shows a single asterisk mark for Bitfinex’s price, with the message at the bottom “price excluded.” Notably, at time of writing, bitcoin is trading at a premium of over $300 on Bitfinex as compared to other major exchanges. For instance, on Coinbase and Gemini, the price is around $5,650, while on Bitfinex it is around $5,985. In its methodology description on its website, CoinMarketCap states the conditions for…

Stakeholders Call for Major Bitcoin Exchanges to Delist Tether

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There is currently a growing call from many in the cryptocurrency industry for major Bitcoin exchanges to delist Tether (USDT). This development comes amid an investigation into suspected fraudulent activity by Tether and Bitfinex running into almost a billion USD. If Bitcoin SV, Why Not Tether? On social media platforms like Reddit and Twitter, commentators are calling on the likes of Binance and other prominent cryptocurrency bourses to delist the controversial Tether stablecoin. Some point to the decision by Changpeng Zhao, the Binance chief, to delist Bitcoin SV back in…

Bitcoin (BTC) Price Flirting With Key Support: Fresh Rise Likely

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Bitcoin price corrected lower recently after trading above the $5,800 level against the US Dollar. The price declined below the $5,700 level and tested an important support near $5,580. There is a key bullish trend line forming with support near $5,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to bounce back above $5,700 as long as it is above $5,600 and $5,540. Bitcoin price remains well supported on the downside above $5,500 against the US Dollar. BTC could start a fresh…

John McAfee Cursing in New ‘Bitcoin Play’ App, Letting Users Earn Satoshis for Quiz Solving

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John McAfee, the world famous Bitcoin bull and probably the biggest attention drawer in the crypto sphere, has launched a mobile app that enables you to earn some Bitcoin by responding to questions that test your knowledge The new app whose launch McAfee made public on Twitter on Saturday, is dubbed ‘Bitcoin Play’. It can now be downloaded by Android users. McAfee writes that the software includes a ‘family friendly option’, as well as an option for those over 18 years old, where users can here McAfee swearing at users…

Crypto Market Nearing Key Support: Bitcoin Cash, XLM, EOS, TRX Price Analysis

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The total crypto market cap started a downside correction from the $186.8B swing high. Bitcoin price is currently correcting lower towards the $5,650 and $5,600 supports. Bitcoin cash price failed to stay above the $300 support level and declined below $295. EOS price retreated from well above $4.85 and it is currently above the $4.72 support. Stellar (XLM) price failed to settle above the key $0.1000 resistance level. Tron (TRX) is under a lot of pressure and it could retest the $0.0225 support level. The crypto market cap is correcting…