A long-term bitcoin price resistance has flipped to become support for what appears to be a potential bullish action. The 50-weekly moving average (50-SMA), which measures the average of bitcoin prices over a 50-week period, looks to assume the role of a strong pullback level. The year’s first week marked the first time price closed above the technical indicator since late-April, as shown in the chart below. Bitcoin looks to continue price rally above blacked support wave | Source: TradingView.com, Coinbase A crossover above the 50-SMA earlier in April pushed…
Month: January 2020
Popular Crypto Wallet Imtoken Adds Bitcoin Cash Support
Consistently among the top digital assets in the world by market cap, Bitcoin Cash is accepted by most crypto service providers and the list just keeps growing. The latest platform to add BCH support is the popular crypto wallet with over 10 million downloads, Imtoken. Also Read: Bitcoin.com Partners With Mecon Cash, Enabling Withdrawal at ATMs Across South Korea Imtoken Now Offers a Bitcoin Cash Wallet The company operating the digital asset management tool Imtoken has announced today it has added bitcoin cash support to its multi-chain crypto wallet app…
FCA’s New AML Regime – UK’s Crypto Market Will Have to Adapt in 2020
The Financial Conduct Authority (FCA) is now the United Kingdom’s sole Anti-Money Laundering (AML) authority for the crypto business. After a decade of compliance under a laissez-faire approach to AML legislation, U.K.-based crypto firms now face a significantly more stringent set of rules. With the FCA thrashing U.K. crypto regulation into shape, the consequences upon start-ups, user privacy and adoption will likely be wide-reaching. In its early stages, decentralized finance (DeFi) has uncovered a bounty of possibilities within the economic sector. From borderless banking to using blockchain technology, DeFi is leading…
Digital Chamber of Commerce Weighs In on Telegram Legal Battle With SEC
The Chamber of Digital Commerce has filed an amicus brief in the ongoing court case between encrypted messenger service Telegram and the United States Securities Exchange Commission (SEC). Filed on Jan. 21, the document was authored by Lilya Tessler, a partner and the New York head of Sidley Austin LLP, counsel to the Chamber. In the amicus brief — a legal document that allows a non-litigant to submit its expertise or opinion in a case — the Chamber makes a number of arguments regarding how the U.S. District Court for…
Switzerland Softens Tone on Libra After Ex-President Says Project ‘Failed’
The Swiss government has attempted to strike a more conciliatory tone on the Facebook-led Libra project, weeks after the country’s now-departed president called the project a failure. A government memo, seen by Bloomberg, emphasizes that the country’s regulators have not ruled out the possibility that Libra could one day receive their approval. Swiss officials will continue to monitor the project, the note reads, paying special attention to “the form which Libra may take in the future.” Published Jan. 15, the memo suggests the Swiss government wants to soften its stance…
Switzerland Softens Tone on Libra After Ex-President Says Project ‘Failed’
The Swiss government has attempted to strike a more conciliatory tone on the Facebook-led Libra project, weeks after the country’s now-departed president called the project a failure. A government memo, seen by Bloomberg, emphasizes that the country’s regulators have not ruled out the possibility that Libra could one day receive their approval. Swiss officials will continue to monitor the project, the note reads, paying special attention to “the form which Libra may take in the future.” Published Jan. 15, the memo suggests the Swiss government wants to soften its stance…
Ethereum is Way Ahead of EOS and TRON Study Finds, And Price Will Likely Reflect It
Last year, the San Francisco startup Compound offered investors a simpler way to earn as much as 10 percent yields. All they had to do was put move their capital on its app’s Ethereum-based lending platform. ‘Compound‘ is not a financial institution. Instead, it is among many new ventures that are building a new wave of so-called decentralized apps – or Dapps – atop public ledgers. The ecosystem now consists of over 3.11 million daily active users distributed unevenly across multiple blockchain projects. In 2018, there were only 1.48 million…
Regulated Fintech Firm Monerium to Issue E-Money on Algorand Blockchain
A regulated European startup plans to bring fiat currency transactions onto the Algorand blockchain. Iceland-based Monerium, which has a European Economic Area (EEA) e-money license, has entered into a non-exclusive partnership with Algorand. Announced Tuesday, the deal will see the two companies collaborate on developing “real-world use cases that are enabled by advanced blockchain technology” using Monerium’s “programmable” e-money, according to W. Sean Ford, Algorand’s COO. Monerium allows clients to develop blockchain-based financial services, such as cross-border settlements, using any fiat currency of choice, such as the euro, pound sterling…
Blockchain Used by Budweiser Owner InBev to Help African Farmers
AB InBev, the company behind the Budweiser brand, is helping local African farmers to prove their income using blockchain, Yahoo Finance reports on Jan. 21. A blockchain-based system developed in partnership with BanQu tracks all the local suppliers of AB InBev, replacing the paper trail. AB InBev is a multinational conglomerate born out of the merger of several established beer producers. It includes Budweiser, Stella Artois and Corona as some of its most recognizable brands. The company has adopted a strategy of using local suppliers, receiving tax breaks for their…
Bitcoin Price Indicator Eyes First Bullish Turn Since August
View Bitcoin’s case for a rally to $10,000 over the next few weeks looks stronger with the weekly MACD histogram about to turn bullish for the first time since August. Bitcoin is trading in a sideways manner in the $8,460-$8,750 range for the second day. A range breakdown could be followed by a quick slide to $8,200-$8,000. A range breakout would expose the 200-day average lined up at $9,015. A widely tracked bitcoin price indicator is about to flash a bullish signal for the first time in five months. The…