Please share if you find this article interesting. 3 Signs Bitcoin's Move Above $7K Might Just Hold The world's largest cryptocurrency by market capitalization exploded in price Tuesday, jumping $600 in 30 minutes to break away from what had been suppressive bear market conditions. But entering Wednesday, bitcoin is changing hands at $7,370 and showing signs it might continue its ascent. In fact, when viewed on longer timeframes, it appears that the trend is changing, this time in favor of the always-optimistic bulls. But just how reliable is this move? So far, there are three general tools traders are using to analyze the markets in a quest to confirm that the change in trend will have staying power. Tool #1: 55 EMA surpassed Exponential Moving Averages (EMA) act like signals ...
Please share if you find this article interesting. Above $7K: Bitcoin's Price Shot Up $600 in 30 Minutes Bitcoin's price shot well above $7,000 Tuesday in a dramatic move that took the cryptocurrency to a level it hasn't seen in more than a month. As of press time, the world's most valuable cryptocurrency by market capitalization was trading at $7,368.22, up more than $600 from the day's open at $6,726.40. Indeed, the market moved quickly, posting the gains over the course of 45 minutes. CoinDesk's Bitcoin Price Index (BPI) registered a market high of $7,408.28 amidst the sudden spike upward. The last time the price was this high was on June 10, BPI figures reveal. At press time, Bitcoin is the biggest gainer among the top 10 cryptocurrencies by market capitalization and is rep
Please share if you find this article interesting. Bitcoin Price Retakes Key Moving Average for First Time in Two Months Bitcoin (BTC) scaled the crucial 50-day moving average (MA) on Monday for the first time in nearly two months, taking its price above $6,700. The corrective rally picked up a pace 24 hours ago, possibly due to reports stating that BlackRock, INC – the world's largest asset manager and exchange-traded fund (ETF) provider – is considering venturing into cryptocurrency markets. Later in the day, BlackRock CEO Larry Fink clarified rumors by stating that there isn't a huge demand for cryptocurrencies. Still, BTC remained bid and closed (as per UTC) above the 20-day MA for the first time since May 20, validating the argument that a short-term bottom has been made at
Please share if you find this article interesting. Is Pied Piper Serious? How HBO Inspired Crypto's Most Confounding Coin "Hey … this is Craig Wright." It wasn't, but that was far from the strangest part of the conversation. Thus began CoinDesk's attempts to determine the identity and intent of the individuals behind "Pied Piper Coin," a parody Twitter account inspired by the HBO series "Silicon Valley." Chronicling a plucky startup that suffers hilarious slings and arrows in its quest to remake the internet, the TV show had its characters conduct an initial coin offering (ICO) in May. So, no one was exactly surprised when, a couple of days later, a Twitter account for the fictional token, Pied Piper Coin, showed up. Less clear, however, was who was behind the account. Many took
Please share if you find this article interesting. Augur Betting Volumes Just Topped $1 Million (And They're Accelerating) Prediction platform Augur is fast attracting fans, at least if new data is any indication. Revealed exclusively to CoinDesk, figures from Predictions.Global, a website that allows users to view Augur markets without installing the app, show the platform saw a spike in "open interest" from Sunday to Monday. A metric that denotes how much is being risked on the outcome of real-world events, open interest leapt by 51 percent to more than $325,000 over the period. That news comes less than a week after Augur's launch, at which time it quickly (but briefly) became one of the top 5 applications on ethereum. One of the first large-scale applications to be deployed o
Please share if you find this article interesting. Bitcoin's Road Back to $7K (And the Chart Hurdles In the Way) Having defended $6,000 last week, bitcoin (BTC) appears to be building momentum for a price rise, but nearby technical hurdles still present a formidable challenge. At press time, the world's most valuable cryptocurrency is changing hands at $6,689 on Bitfinex and looks to be gaining steam for another test of $6,838. As such, the level is shaping up to be a make-or-break mark, one that could reveal if a classic trend reversal pattern, known as the inverse head-and-shoulders neckline, will take effect. Indeed, a close above that level would amount to a short-term bearish-to-bullish trend change and open doors for a rally to $7,900 (a target measured by adding the distan...
Please share if you find this article interesting. Bitcoin Struggles for Gains as Volume Hits 36-Week Low Bitcoin's corrective rally has stalled around $6,400 on Monday amid low trading volumes. The leading cryptocurrency remained bid over the weekend as expected, courtesy of Thursday's strong reversal from the two-week lows. However, so far, the break above $6,400 has remained elusive, likely due to anemic trading volumes. Bitcoin's total trading volume across all cryptocurrency exchanges fell to $2.92 billion on Saturday, the lowest level since November 7, according to CoinMarketCap. The drop in the trading volume likely indicates the bargain hunters are not particularly impressed by BTC's reversal from the two-week low of $6,080 (hit on Thursday) and also puts a question mark
Please share if you find this article interesting. What Crypto Really Thinks About Litecoin's Banking Ambitions It was news that was perhaps too strange for crypto's typically divided reactions. First revealed Wednesday, the Litecoin Foundation, the non-profit that develops the software that powers the sixth-largest cryptocurrency, bought a stake in a very real, non-crypto bank. The move was met with applause and skepticism, but also a stunned sense of disbelief from nearly all sides. Was it a sign that crypto is becoming so powerful it will soon overturn the rule of banks? Certainly that theory was well-represented in the initial reactions... Indeed, the news had imaginations operating at full speed, with some going so far as to think that the crypto industry might be on a bank
Please share if you find this article interesting. $13.5 Million Hack Ignites Fresh Debate Over Crypto Project Bancor Innovation is never easy. That said, sometimes it can be that much harder. Such was the case for crypto project Bancor this week, which saw its design decisions and strategy picked apart on social media as it sought to contain the damage from a multimillion-dollar hack. On Monday, the project announced its app was down for maintenance, and shortly after, it revealed a security breach had taken place. At the time, the project assured no user wallets were compromised. (The startup has since brought its platform back online.) Then on Tuesday morning, Bancor published details of the breach: a wallet used to upgrade smart contracts was compromised and used to steal 3
Please share if you find this article interesting. A US Election Probe Implicated Bitcoin – And the Reaction Was Swift Rod Rosenstein, the deputy attorney general of the U.S., sparked a social firestorm when he revealed that the dozen Russian military intelligence officers indicted on Friday used bitcoin to fund hacking efforts during the 2016 presidential election. As CoinDesk reported earlier today, the defendants named in the indictment are accused of gaining access to computer systems utilized by the Democratic Party, including those used by presidential candidate Hillary Clinton, in order to disseminate that information during the election. Notably, the accused used bitcoin – including funds they mined themselves – to pay for web domains and other services utilized during th