Tag: Support

Bitcoin Price Caught Between Key Support Levels as Bearish Sentiment Grows

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Bitcoin (BTC) price had a relatively muted day as the digital asset traded between $8,700-$8,885.  Currently, the price remains below the ascending channel trendline and the daily candle closed as a neutral doji, showing bulls and bears are in contention on the direction Bitcoin will take over the short-term.  Crypto market weekly price chart. Source: Coin360 As the price searches for direction and its dominance rate drops from 67% to 65.5%, a handful of altcoins continued a multi-day streak of impressive double digit rallies.  Despite Bitcoin price finding difficulty in…

Jack Dorsey Gives $5M to Support UBI ⁠— Could Crypto Deliver it?

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Jack Dorsey, CEO of Twitter and mobile-payment platform Square, is donating $5 million to Humanity Forward, a group launched by crypto-friendly former presidential candidate Andrew Yang, as part of both entrepreneurs’ efforts to establish universal basic income (UBI) for Americans. Dorsey announced the plan on Yang’s podcast, Yang Speaks, on May 21, while discussing the future of technology. Dorsey told Yang that UBI was “long overdue,” saying “the only way that we can change policy is by experimenting and showing case studies of why this works.” In a statement to…

Blockchain.com to Support Russian Ruble Despite Local Crypto Uncertainty

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Blockchain.com, a major cryptocurrency wallet and blockchain data provider, plans to support Russia’s national currency, the ruble (RUB). Although some big exchanges like Binance have introduced the Russian ruble, there is still no law authorizing circulation of crypto in Russia. On May 20, Blockchain.com announced its long-term roadmap, “The next era of crypto and 1B wallets by 2030.” In a post authored by Peter Smith, Blockchain.com CEO and co-founder, the firm outlined the addition of the Russian ruble as part of its mission to grow its current user base of…

Bitcoin.com Exchange Lists ESH Token Support Prior to John McAfee’s Ghost Airdrop

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In mid-April, news.Cryptox.trade reported John McAfee’s new privacy token called Ghost, as the former anti-virus tycoon detailed “governments will be unable to shut it down.” Ghost won’t be distributed in the usual fashion by leveraging an initial coin offering (ICO), as the project will instead utilize the airdrop process. In order to obtain the Ghost token, recipients will need to hold a specific ERC20 token called ESH. Today, Cryptox.trade’s cryptocurrency trading platform announced that ESH will now be listed, so users can obtain the token in order to participate in…

Bitcoin Poised To Surge Above $10K If It Holds This Crucial Support

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Bitcoin is up around 4% and it is approaching the $10,000 resistance against the US Dollar. BTC price is likely to extend its rally above $10,000 unless it dives below the $9,500 support. Bitcoin is currently gaining bullish momentum and trading near the last swing high at $9,950. The price is trading well above the $9,600 support and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $9,720 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…

Bitcoin Cash Upgrade 3 Days Away – New Opcode Support, Chain Limit Extension, Sigchecks

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On May 15, the Bitcoin Cash (BCH) blockchain will be upgraded and there will be at least three new features added to the longest chain. The upgrade in three days is being discussed fervently by the community, because it follows the recent and controversial Infrastructure Funding Proposal (IFP). Bitcoin Cash to Upgrade In Three Days – Bitcoin ABC’s Amaury Séchet Discusses IFP During Recent Podcast In three days’ time, the Bitcoin Cash (BCH) blockchain will upgrade again, adding a few new features to the network. If things go smoothly, as…

Bitcoin Price Bounces at Key Trendline Support 1 Day Before BTC Halving

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In the last 3 hours Bitcoin (BTC) price gained 2.63% after dropping to $8,256 earlier in the day. With just less than 24-hours before the block reward halving is scheduled to take place, traders are likely biting their nails and anxious to see if the top ranked crypto-asset on CoinMarketCap will be able to reclaim $9,000.  Crypto market weekly price chart. Source: Coin360 Today’s drop to $8,256 brought the Bitcoin price below the ascending channel trendline for the second time in 24-hours and traders again purchased into the dip, allowing…

Bitcoin Rally Above $9K Stalls as Sellers Push BTC Back to Key Support

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Bitcoin (BTC) price briefly broke above $9,000 as bulls appear to be in the process of trying to quietly move the price above the resistance level. Since Friday trading volume for the top-ranked cryptocurrency on CoinMarketCap had been virtually non-existent as the price traded sideways between $8,750-$8,850 for the majority of the day but the weekend is bound to bring about a stronger directional move. Crypto market daily price chart. Source: Coin360 Will the TD9 ring true again? As reported by Cointelegraph, the presence of a TD9 on the daily…

Two Thirds of Users Support Taxation of Crypto Assets

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A recent survey conducted by South Korean wallet provider Childly found that 66% of respondents are in favor of crypto assets being taxed. The poll of more than 5,750 crypto users worldwide revealed that only one-in-five crypto users are opposed to digital asset taxation. Crypto community warms to taxation 48% of respondents strongly agreed that cryptocurrencies should be taxed, describing digital asset taxes as “a must.” 18% of participants expressed support for crypto taxes, however, on the proviso they were set “at an acceptable level. 20% of polled crypto users…

Ethereum Holding Key Uptrend Support And Poised To Rally Again

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Ethereum surged to a new monthly high at $227 before correcting lower against the US Dollar. ETH price is now testing the $205 support zone and it is likely to start a fresh rally. Ethereum started a downside correction after a strong rally above $220. The price is currently trading above the key uptrend supports at $205 and $200. There is a short term contracting triangle forming with resistance near $210 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to start a fresh increase…