Month: August 2019

Crypto Market & Bitcoin Extending Losses: BCH, Litecoin, ADA, TRX Analysis

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The total crypto market cap is following a bearish path below the $265.0B and $270.0B resistances. Bitcoin price failed to break the $10,500 resistance and is currently under a lot pressure. Litecoin (LTC) price is trading with a bearish bias below the $75.00 support area. BCH price is at a risk of a downside break below the $305 and $300 support levels. Tron (TRX) price is consolidating losses below the key $0.0180 and $0.0185 resistance levels. Cardano (ADA) price is following a bearish path below the $0.0520 and $0.0500 supports.…

Ripple Price (XRP) At Risk Of Downside Break, Eyes $0.2500

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Ripple price is struggling to climb higher above the $0.2750 and $0.2800 resistances against the US dollar. Bitcoin price failed to climb above the key $10,500 resistance level and declined recently. A major bullish trend line with support near $0.2670 is at risk on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could accelerate its decline if there is a downside break below $0.2650 and $0.2620. Ripple price is moving lower within a bearish zone against the US Dollar and bitcoin. XRP price remains at…

Ethereum Price (ETH) Targets Fresh Weekly Low, Bitcoin Down 2%

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ETH price failed to climb above the $195 resistance and declined recently against the US Dollar. The price is now trading below the $190 level and it seems like there could be more downsides. There is a short term breakout pattern forming with support near $186 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue lower below the $185 support and it may even break $180. Ethereum price is back in a bearish zone below $190 versus the US Dollar, similar to bitcoin.…

General Manager of Houston Rockets Basketball Team Bullish on Bitcoin

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Daryl Morey, the general manager of the Houston Rockets basketball team, said that he recently bought more Bitcoin (BTC). On Aug. 23, Morey tweeted “I just bought more” in response a pro-Bitcoin tweet by Morgan Creek Digital Assets co-founder Anthony Pompliano, who said that Bitcoin allows investors to avoid the chaos of global markets. Indeed, some commentators have suggested that Bitcoin’s price can serve as an indicator of geopolitical turmoil and serve as a safe haven asset for individuals in economically or politically turbulent situations.  Pompliano wrote that Morey should…

Crypto Market Sees Minor Losses After Trading Sideways

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Monday, Aug. 26 — Top cryptocurrencies Bitcoin (BTC), Ether (ETH) and XRP are in the red. After trading sideways for most of the day, the market is currently seeing minor losses. Market visualization. Source: Coin360 BTC is trading at $10,350 at press time — a 1.72% price decrease on the day. BTC has been mostly trading between $10,000 and $10,800 over the past seven days, with its current price sitting right in the middle of those two price points.  Bitcoin 7-day price chart. Source: Coin360 BTC also recently achieved a…

New Zealand Radio Host Denies Shilling Bitcoin on Social Media

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New Zealand radio personality Duncan Garner, who hosts The AM Show on MagicTalkRadio, has denied promoting Bitcoin (BTC) on Facebook. I don’t do any of that ‘coin’ Local news daily NewsHub provided a video of Garner denying his involvement in the Facebook promotions on Aug. 26. Following an interview about a recent privacy breach in the government of New Zealand, Garner said: “That is not me on Facebook pumping up Bitcoin […] I don’t do Bitcoin, I don’t do any of that ‘coin,’ I haven’t been on Facebook for a…

VMWare CEO Gelsinger Condemns Bitcoin as Bad Design, Bad for Humanity

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Pat Gelsinger, the CEO of major cloud computing and virtual machine company VMWare, has condemned Bitcoin (BTC) as being “bad for humanity.” Fortune spoke to Gelsinger about Bitcoin prior to VMWare’s annual conference in San Francisco on Aug. 26. According to Gelsinger, one issue with Bitcoin is its purportedly high energy consumption, which contributes to climate change. Gelsinger said: “It takes the energy of a home, half-a-home a day, to do a single entry into a Bitcoin ledger […] It’s climate intolerant, it is so extreme, it is bad design.”…

CoinFlex Receives $10 Million Funding for Bitcoin Futures Settlements

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Hong Kong-based cryptocurrency futures exchange CoinFlex has received $10 million through a funding round that closed last week. Recent funding and goal Asia-focused newspaper South China Morning Post (SCMP) reported the news on Aug. 26. According to the report, CoinFlex received funding from Bitcoin Cash (BCH) advocate and Bitcoin.com CEO Roger Ver, as well as Polychain Capital, NGC Ventures and Divergence Digital Currency. Polychain Capital and Digital Currency Group joined CoinFlex’s investment consortium back in March. CoinFlex is now reportedly looking to increase business from Asian retail investors. A safe…

Craig Wright Must Forfeit 50% of Bitcoin in Court Case

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The protracted legal battle involving self-proclaimed Bitcoin (BTC) inventor Craig Wright and the estate of computer scientist David Kleiman could go in Keiman’s favor. According to a court audience member on Aug. 26, Judge Bruce Reinhart rejected Wright’s testimony, stating that he had perjured himself by providing the court with falsified documents and recommended that he hand over 50% of the over 1 million bitcoins Kleiman mined with Wright as well as intellectual property rights associated with Bitcoin’s software. The case began in February 2018 when lawyers filed the case…

tZERO, Overstock’s Crypto Platform, Loses a Major Investor

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Overstock’s security token platform, tZERO, has lost a major investor following the departure of CEO Patrick Byrne last week. Another Blow for tZERO During interim CEO Jonathan Johnson’s very first investor call in his new role, he confirmed that Makara Capital “will be not investing in tZERO right now.” However, he did mention that Makara would continue to monitor the development of tZERO and possibly reconsider in the future. The news is another blow for Overstock’s security token platform, as in August 2018, Overstock announced that Makara would invest $404 million USD…