Monday, June 25Your Daily Bitcoin & Altcoin News Portal

Author: Wealthy Miner

Bitcoin’s Defense of $6K Raises Odds of Relief Rally

Bitcoin’s Defense of $6K Raises Odds of Relief Rally

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bitcoin's Defense of $6K Raises Odds of Relief Rally Bitcoin (BTC) is again trading above $6,000 and looking up, but today's closing price will likely set the tone for the rest of the week. The leading cryptocurrency fell to $5,755 at 15:00 UTC on Sunday – the lowest level since Nov. 12 – only to make a quick recovery back above $6,000 an hour later, according to Bitfinex data. The failure to capitalize on the drop, despite the long-run bearish technical setup, suggests that the bears are feeling exhausted, having pushed BTC lower by more than 40 percent (from $9,990 to $6,000) in the last seven weeks. So, a relief rally may be in the offing, but that depends on whether prices close today (as per UTC) on a positive note. At pres
Leading Chinese Bitcoin Miner Manufacturer Files for IPO in Hong Kong

Leading Chinese Bitcoin Miner Manufacturer Files for IPO in Hong Kong

BITCOIN
Please share if you find this article interesting. Leading Chinese Bitcoin Miner Manufacturer Files for IPO in Hong Kong Ebang Communication, one of the largest Bitcoin (BTC) mining hardware manufacturers in China, has filed an application for an initial public offering (IPO) with the Hong Kong Stock Exchange (HKEX) today, June 25. The application confirms a Reuters report in May that the Zhejiang-based firm was working with advisers on a Hong Kong float, potentially seeking to raise as much as a staggering $1 billion to fund growth. Today’s filing does not give details on how much Ebang is seeking to raise for its IPO, nor does it give a precise valuation for the firm. However, the filing does include a financial statement which states that Ebang earned 925 million yuan ($141 mi
Alibaba Offshoot Trials First Blockchain Remittance to Philippines, Plans Global Expansion

Alibaba Offshoot Trials First Blockchain Remittance to Philippines, Plans Global Expansion

BITCOIN
Please share if you find this article interesting. Alibaba Offshoot Trials First Blockchain Remittance to Philippines, Plans Global Expansion Alibaba subsidiary Ant Financial has trialled its first blockchain remittances, sending a transaction in three seconds, Bloomberg reports June 25. The company, formerly known as AliPay, completed a funds transfer between its AliPayHK app in Hong Kong and Filipino payment app GCash, its joint project with local telecoms company Globe Telecom. Part of a growing trend of Blockchain remittances in the Philippines, Ant Financial will establish international outreach in future, CEO Jack Ma told the press on the back of the project. “Using blockchain to achieve cross-border remittances is one of my most concerned projects in the past six months. S
Bitcoin Price Watch: BTC/USD Facing Uphill Task

Bitcoin Price Watch: BTC/USD Facing Uphill Task

PRICE ANALYSIS
Please share if you find this article interesting. Bitcoin Price Watch: BTC/USD Facing Uphill Task Key PointsBitcoin price declined below the $6,000 support and formed a low at $5,654 against the US Dollar.There are two bearish trend lines formed with resistance at $6,280 and $6,540 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair may perhaps break the $6,280 resistance and test the next resistance at $6,500 in the near term.Bitcoin price is in a bearish zone below $6,500 against the US Dollar. BTC/USD must break $6,280 and $6,540 to move back in a positive zone.Bitcoin Price AnalysisThere was another downside reaction below $5,900 in bitcoin price against the US Dollar. The BTC/USD pair extended declines below $5,800 and traded to a new monthly low at $5,...
Cardano Price Analysis: ADA/USD Consolidating Below $0.1400

Cardano Price Analysis: ADA/USD Consolidating Below $0.1400

PRICE ANALYSIS
Please share if you find this article interesting. Cardano Price Analysis: ADA/USD Consolidating Below $0.1400 Key HighlightsADA price fell below the $0.1500 support and traded towards the $0.1200 support against the US Dollar (tethered).A major bearish trend line is formed with resistance near $0.1400 on the hourly chart of the ADA/USD pair (data feed via Bittrex).The pair is consolidating below the $0.1400 resistance and is currently in a bearish zone.Cardano price remains in a negative bias against the US Dollar and Bitcoin. ADA/USD must clear the $0.1400 resistance to move back in a positive zone.Cardano Price AnalysisThe past few days were extremely bearish as ADA price broke the $0.2000 and $0.1500 support levels against the US Dollar. The ADA/USD pair declined towards the ...

Research: ETFs Could Lead Bitcoin Price to $35,000 and It Isn’t Far Away

PRICE ANALYSIS
Please share if you find this article interesting. Research: ETFs Could Lead Bitcoin Price to $35,000 and It Isn’t Far Away According to a cryptocurrency research group, the bitcoin price could increase to over $35,000 with the emergence of a bitcoin exchange-traded fund (ETF), which isn’t that far away.Road to $35,000: Institutional investors or ETFsProminent investors including Ari Paul, the co-founder of BlockTower, a cryptocurrency hedge fund founded by former Goldman Sachs executive, have said that the next mid-term rally will likely be triggered by institutional investors potentially before the end of 2018.Paul said that the last barrier preventing institutional investors from entering the cryptocurrency market is the lack of trusted custodianship and a suite of institution
Bitcoin Cash Price Analysis: BCH/USD Testing Crucial Resistance

Bitcoin Cash Price Analysis: BCH/USD Testing Crucial Resistance

PRICE ANALYSIS
Please share if you find this article interesting. Bitcoin Cash Price Analysis: BCH/USD Testing Crucial Resistance Key PointsBitcoin cash price declined further and traded towards the $650 level against the US Dollar.There is a major bearish trend line in place with resistance at $765 on the hourly chart of the BCH/USD pair (data feed from Kraken).The pair is currently trading near a major resistance at $750-770, which is acting as a barrier for buyers.Bitcoin cash price extended declines below $700 against the US Dollar. BCH/USD is currently correcting higher, but it is facing hurdles near $760.Bitcoin Cash Price ResistanceThere was an increase in selling pressure below $800 on bitcoin cash price against the US Dollar. The BCH/USD pair extended declines below the $750 and $700 l...
Bitcoin (BTC) Price Watch: Are Bears Back in the Game?

Bitcoin (BTC) Price Watch: Are Bears Back in the Game?

PRICE ANALYSIS
Please share if you find this article interesting. Bitcoin (BTC) Price Watch: Are Bears Back in the Game? Bitcoin Price Key HighlightsBitcoin price broke below the latest swing low to confirm that selling pressure remains.Price is testing one of the Fibonacci extension levels and could head to the next ones from here.Technical indicators are giving mixed signals but the overall downtrend remains intact.Bitcoin price is resuming the slide and bearish pressure could pick up now that it broke below the $6,050 swing low.Technical Indicators SignalsThe 100 SMA is safely below the longer-term 200 SMA to signal that the path of least resistance is to the downside. This signals that the selloff is more likely to resume than to reverse. The short-term moving average also lines up with the...
Ethereum Price Drops to 2.5-Month Low Below $430

Ethereum Price Drops to 2.5-Month Low Below $430

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Ethereum Price Drops to 2.5-Month Low Below $430 The price of ethereum, the world's second largest cryptocurrency by market capitalization, dropped to a 74-day low below $430 - a level not seen since April 12. Data from CoinDesk's price index shows the cryptocurrency dropped by more than $50 over a short-term period of 12 hours to reach $426.47 around 16:00 UTC on Sunday. Yet the bottom support level sparked an immediate reversal in price, which quickly recovered a loss of $42. As of press time, ETH is back above $450 but still down 3.36 percent over a 24-hour period. Further, on a year-to-date basis, ETH is reporting a 60 percent decline from this year's high of $1.326 seen on Jan. 14. However, a swift recovery is in play with
Court Halts Sale of Mt Gox Bitcoin Stash until 2019 : Bitcoin (BTC) Technical Analysis

Court Halts Sale of Mt Gox Bitcoin Stash until 2019 : Bitcoin (BTC) Technical Analysis

PRICE ANALYSIS
Please share if you find this article interesting. Court Halts Sale of Mt Gox Bitcoin Stash until 2019 : Bitcoin (BTC) Technical Analysis At long last, Mt Gox account holders affected by the hack would receive their coins after Mt Gox was given a go-ahead to proceed with their Civil Rehabilitation Process. This is a reprieve not only to those seeking compensation but to Bitcoin prices because Koyabashi won’t be liquidating more coins in the days to come. In the mean time though, At 75 percent down from Bitcoin ATHs at $20,000, BTC prices are down $14,000 and trending for the first time this year below $6,000. All things constant, it will be wise to trade with the trend. So, after last week’s bearish break down candlestick, looking for pull backs specifically in the 4HR chart if y