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Just One Crypto Bucked the Market Downtrend This Week

Just One Crypto Bucked the Market Downtrend This Week

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Just One Crypto Bucked the Market Downtrend This Week Shadowing the losses in bitcoin, the top-25 cryptocurrencies have all fallen over the last seven days – all bar one, that is. The broader markets seem to have been dragged lower by a 9.5 percent week-on-week drop in bitcoin (BTC), the world's largest cryptocurrency by market cap. BTC fell below $8,000 on May 22 for the first time since April 18 and hit a low of $7,272 yesterday, as per CoinDesk's Bitcoin Price Index (BPI). Other major names like ethereum (ETH) and bitcoin cash (BCH) are reporting 14 percent weekly declines in price. EOS, meanwhile, is down 6 percent and XRP has shed 8.5 percent over the same period. The sole top-25 cryptocurrency to be up this week is TRON (TR
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Bitcoin Faces First Close Below This Key Long-Term Support in 2.5 Years

Bitcoin Faces First Close Below This Key Long-Term Support in 2.5 Years

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Please share if you find this article interesting. Bitcoin Faces First Close Below This Key Long-Term Support in 2.5 Years Bitcoin risks closing below the 50-week moving average (MA) – an important long-term support not breached for over 2.5 years. With the bears already on the offensive following the recent sell-off, prices are likely to suffer if bitcoin closes on Sunday below the key support, currently seen at $7,611. More worryingly for the bulls, since the cryptocurrency has not traded below the 50-week MA since October 2015, acceptance below that level would only add credence to the argument that the long-term bull run has ended. Weekly chart (2015–2018) As seen on the chart above, the long-term moving average had acted as a strong support in the first quarter. BTC found
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Pink Taxis, Red Flags: A Deep Dive Into a Sketchy ICO

Pink Taxis, Red Flags: A Deep Dive Into a Sketchy ICO

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Please share if you find this article interesting. Pink Taxis, Red Flags: A Deep Dive Into a Sketchy ICO It's no secret "buyer beware" has become a mantra in the world of ICOs, where blockchain startups are raising millions, sometimes with just a white paper, a bright idea and a few lines of code. Indeed, The Wall Street Journal recently found that 271 of 1,450 ICOs it analyzed displayed "red flags that include plagiarized investor documents, promises of guaranteed returns and missing or fake executive teams." Still, with regular Joes turning into crypto millionaires, however infrequently, they're enticing bets for investors. Expanding on the WSJ's analysis, CoinDesk wanted to make it clear what kind of approaches fraudulent ICOs take, and there may be no better poster-child than
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Bitcoin Faces Drop to $7K as Bull Defense Crumbles

Bitcoin Faces Drop to $7K as Bull Defense Crumbles

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Please share if you find this article interesting. Bitcoin Faces Drop to $7K as Bull Defense Crumbles Bitcoin (BTC) is trading on the defensive today, having dropped 16 percent over the last three days. As of writing, BTC is changing hands at $7,270 on Bitfinex, down 6.5 percent in the last 24 hours, and could extend the slide further to $7,000 in the next 24 hours. The cryptocurrency closed (as per UTC) at $7,494 yesterday - its lowest daily close since April 12 - and looked oversold as per the relative strength index (RSI) in the hourly and 4-hour chart. A resulting corrective rally ran info offers above $7,700 earlier today and prices fell to a 6-week low of $7,352 at 08:30 UTC. The failure on the part of the bulls to produce a notable corrective rally despite oversold conditi...
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Bitcoin Closing on Long-Term Bear Indicator Not Seen Since 2014

Bitcoin Closing on Long-Term Bear Indicator Not Seen Since 2014

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Please share if you find this article interesting. Bitcoin Closing on Long-Term Bear Indicator Not Seen Since 2014 Following bitcoin's recent losses, a key long-term trend indicator is looking increasingly bearish. Notably, the five-month moving average (MA) has rolled over in favor of the bears and looks set to cut the 10-month MA from above - a bearish crossover that hasn't been seen since June 2014. If that occurs it could be a worrying signal for the long-term price outlook. Back then, following an identical crossover in June 2014, the cryptocurrency subsequently dropped by 70 percent (from $580 to $166) in the seven months leading up to January 2015. This time around, the bearish crossover will likely occur at the turn of the month, if bitcoin extends the current decline tow...
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Bitcoin Price Falls to 35-Day Low Below $8K

Bitcoin Price Falls to 35-Day Low Below $8K

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Please share if you find this article interesting. Bitcoin Price Falls to 35-Day Low Below $8K Bitcoin's price has slipped below $8,000 to hit a 35-day low. Just an hour after the May 23 trading session began, data from CoinDesk's Bitcoin Price Index shows the price of the world's largest cryptocurrency started to fall, dropping to its lowest point since April 18. After steadily climbing up to nearly $10,000 on May 6, bitcoin's price has been on a gradual decline since then towards a current low at $7,876, reflecting a 20 percent drop over the past two weeks. The price has bounced back slightly to $7,910 as of press time. That said, the current price still shows a 30 percent premium over bitcoin's lowest point this year at $5,947 seen on Feb. 5. Meanwhile, bitcoin's price drop ...
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He Paid How Much? CoinDesk Releases ‘Bitcoin Pizza Day’ Price Tracker

He Paid How Much? CoinDesk Releases ‘Bitcoin Pizza Day’ Price Tracker

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Please share if you find this article interesting. He Paid How Much? CoinDesk Releases 'Bitcoin Pizza Day' Price Tracker Eight years ago today, the first reported exchange of bitcoin for a consumer product - a pair of Papa John's pizzas - took place. At a total cost of 10,000 bitcoins, it was a milestone for the adoption of cryptocurrency and one that has since been commemorated though the celebration of May 22 as "Bitcoin Pizza Day." Yet even the most cursory observation of Bitcoin Pizza Day isn't complete without a calculation of precisely how much, in dollar terms, those two pizzas cost. With that, CoinDesk is today releasing a new widget that provides a real-time calculation that you can add to any website. As of press time, that's about $83.7 million for the two pies, or j...
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Failed Bull Breakout Leaves Bitcoin Eyeing Drop to $8K

Failed Bull Breakout Leaves Bitcoin Eyeing Drop to $8K

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Please share if you find this article interesting. Failed Bull Breakout Leaves Bitcoin Eyeing Drop to $8K Bitcoin's failed bull move on Sunday has left the doors open for the bears to make a comeback. The inverse head-and-shoulders breakout on May 20 signaled a short-term bullish reversal that could have seen bitcoin rise to $9,000 (target as per the measured height method). However, the bulls ran out of steam at a high of $8,644 yesterday and prices had fallen back to $8,240 at time of writing - a drop of 2.8 percent over the last 24 hours, according to Bitfinex. The decline did not come as a surprise, though, given the breakout lacked volume support, and a drop to $8,000 could now be on the cards. 1-hour chart As seen in the chart above, BTC fell back below the inverse head
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A Bank In Argentina Is Now Using Bitcoin for Cross-Border Payments

A Bank In Argentina Is Now Using Bitcoin for Cross-Border Payments

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Please share if you find this article interesting. A Bank In Argentina Is Now Using Bitcoin for Cross-Border Payments Argentina's Banco Masventas has revealed that starting Monday it will enable customers to send cross-border payments using bitcoin. A partnership with Latin America-focused exchange startup Bitex, founded in 2014, the news finds the regional bank using bitcoin as a payments rail in international transactions as an alternative to Swift. Bitex chief marking officer Manuel Beaudroit told CoinDesk that the startup believes this marks the first time that a domestic bank has adopted bitcoin for cross-border payments. In statements, Jose Dakak, principal shareholder of Masventas, credited the move to a broader drive by the bank to enhance its digital, smartphone-base
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Bitcoin Took a Hit Last Week But These Cryptos Fared Worse

Bitcoin Took a Hit Last Week But These Cryptos Fared Worse

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Please share if you find this article interesting. Bitcoin Took a Hit Last Week But These Cryptos Fared Worse Bitcoin hogged the limelight in the cryptocurrency markets last week as it fell to one-month lows below $8,000. Yet, while the world's largest cryptocurrency by market capitalization suffered a 3.6 percent week-on-week drop in prices, it still outclassed other major names like bitcoin cash (BCH) and EOS, which both reported double-digit losses. Meanwhile, the previous week's winner zilliqa (ZIL) fell almost 20 percent to become the biggest loser among the top 25 cryptocurrencies by market capitalization. On the plus side, privacy-focused zcash rallied 50 percent and topped the list of winners as investors cheered a new exchange listing. Top 3 losers (May 11-18) Zilliqa