Day: August 9, 2019

Bitcoin & Crypto Market Cap Nears Next Break: LTC, BNB, BCH, TRX Analysis

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The total crypto market cap is approaching the next break either above $305.0B or below $292.0B. Bitcoin price is facing a strong resistance near the $12,000 level. Binance coin (BNB) price extended gains above the $30.50 and $31.00 resistance levels. Litecoin (LTC) price is slowly declining towards the key $86.00 support area. BCH price is trading near the $330 support level, below which it could test $310. Tron (TRX) price is currently consolidating losses below the $0.0220 resistance area. The crypto market cap and bitcoin (BTC) are currently facing a…

Ripple Price (XRP) Back To Square One But Bitcoin Holding Gains

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Ripple price struggled to continue higher and declined below the $0.3100 level against the US dollar. The price is currently consolidating losses after it traded as low as $0.3038. There are two key bearish trend lines forming with resistance near $0.3100 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair remains at a risk of more downsides as long as there is no close above $0.3120. Ripple price is trading with a bearish below key supports against the US Dollar and bitcoin. XRP price might…

US Exchanges Race to Launch Regulated Physically-Delivered Bitcoin Futures

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The race to launch regulated physically-delivered bitcoin futures is back on for three US-regulated trading platforms after one of them hit a snag with the country’s derivatives regulator, the Commodity Futures Trading Commission. Two other exchanges are racing to launch similar products this year. Also read: SEC Commissioner: US Could Draw Crypto Policy From These Countries Ledgerx Approved for Swaps, Not Futures Three regulated trading platforms in the U.S. are vying to become the first to launch physically-delivered bitcoin futures. One of them almost reached the finish line ahead of…

Ethereum Price (ETH) Remains At Risk Of More Downsides Below $215

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ETH price struggled to climb higher and declined below the key $224 support against the US Dollar. Ethereum price is currently trading in a bearish zone and it even tested the $215 support area. There is a major declining channel forming with resistance near $221 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to face a strong resistance near the $220 and $222 levels in the near term. Ethereum price is trading with a bearish angle versus the US Dollar and bitcoin. ETH price…

India Will Lose An Almost $13 Billion Market By Banning Crypto

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Sidharth Sogani, the CEO of crypto and blockchain research firm Crebaco Global Inc, believes that India will lose around $12.9 billion worth of market if cryptocurrency is banned in the country. Sogani shared his reasoning with the news outlet AMBCrypto, which reported the matter on August 8. According to the report, Crebaco’s methodology included an analysis of how much revenue companies might have generated if crypto was ruled to be legal, as well as crypto companies with Indian founders who moved offshore due to the Reserve Bank of India’s banking…

Grayscale Argues BTC Hedges, With US-China Trade War As Case Study

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Grayscale Investments, a digital assets investment firm that offers Bitcoin (BTC) trust shares, has published a case study on how BTC could be used as a hedge against financial instability. The firm used the case of trade tensions between the United States and China to make their point. Grayscale Investments linked to its study in an official blog post on Aug. 8. According to Grayscale’s analysis, they believe that BTC’s store of value potential, its spending characteristics and its potential for growth with new technology poise the original cryptocurrency as…

CFTC Policymaker With Long History of Work on BTC Futures Leaving

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Amir Zaidi, the director of the United States Commodity Futures Trading Commission’s (CFTC’s) Division of Market Oversight (DMO) is rumored to be leaving the CFTC within weeks. Multiple anonymous sources aware of the situation have confirmed this claim, according to a report by Bloomberg Law on Aug. 8.  Zaidi has been the director of the CFTC’s DMO since January 2017. He is acknowledged as being responsible for creating Bitcoin (BTC) futures trading policy, as well as rewriting market regulations for over-the-counter swaps. One source added that former DMO director Vincent…

Reddit Co-Founder to Stream Blockchain Game Skyweaver Face-Off

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Reddit Co-Founder Alexis Ohanian will live stream a face-off match of the latest blockchain collectible card game he’s invested in, SkyWeaver. | Source: REUTERS/Lucy Nicholson Reddit co-founder, Alexis Ohanian, will be live-streaming a face-off match between himself and the lead developer of the latest collectible card game to hit the blockchain, SkyWeaver. Ohanian, also known as kn0thing to Redditors, has famously invested in numerous successful startups. He is now playing his hand in the crypto space thanks to his latest investment. Horizon Blockchain Games last month received $3.75 million in seed…