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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

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
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...
CryptoGirl
Bitcoin Price Falls to 35-Day Low Below $8K

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

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
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

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
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...
CryptoGirl
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

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
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
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Bitcoin Is Back Above $8,500 But Does the Rally Have Legs?

Bitcoin Is Back Above $8,500 But Does the Rally Have Legs?

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bitcoin Is Back Above $8,500 But Does the Rally Have Legs? Bitcoin (BTC) has bounced back above $8,500, but the rally is not backed by decent trading volumes, the technical charts indicate. The cryptocurrency closed below key technical levels on Thursday, signaling a bearish breakdown, but the sell-off unexpectedly ran out of steam at $7,925 a day later. Subsequently, bitcoin gained more than $500 over the weekend, rising back above resistance at the 50-day moving average. At time of writing, BTC is changing hands at around $8,530, having clocked a six-day high of $8,644 earlier today. While last week's bearish trend seems to have run out of steam (as seen in the charts below), the weekend's low-volume rally risks trapping the bu...
CryptoGirl
Zcash Leaves Crypto Market Behind with 50 Percent Weekly Spike

Zcash Leaves Crypto Market Behind with 50 Percent Weekly Spike

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Zcash Leaves Crypto Market Behind with 50 Percent Weekly Spike The cryptocurrency markets are flashing red as the third week of May comes to close. The total market capitalization of cryptocurrencies has dropped by 14.48 percent to $366 billion in the last 7 days, taking the month-to-date losses close to 30 percent, according to CoinMarketcap. Further, the probability that the cryptocurrency market will regain poise next week looks low, given that the bear grip around bitcoin seems to have strengthened, according to technical charts. The world's largest cryptocurrency by market value fell below one-month lows under $8,000 today, showing losses of 3.6 percent on a weekly basis. Other larger cryptocurrencies like bitcoin cash (BCH)
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Bitcoin Hits One-Month Low As $10K Sell-Off Resumes

Bitcoin Hits One-Month Low As $10K Sell-Off Resumes

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. Bitcoin Hits One-Month Low As $10K Sell-Off Resumes Bitcoin's (BTC) drop to one-month lows below $8,000 has strengthened the bear grip on the markets, the technical charts indicate. The cryptocurrency fell to $7,925 on Bitfinex earlier today - the lowest level since April 18 and has retraced 50 percent of the rally from the April 1 low of $6,425 to May 5 high of $9,990. As of writing, BTC is changing hands at $8,120, representing a 2 percent drop in the last 24 hours. The recovery from the low of $7,925 could be associated with the oversold conditions shown by the relative strength index (RSI) in the hourly chart. However, the gains will likely be short-lived as the odds are stacked against the bulls, according to technical chart...
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The SEC Just Launched a Fake ICO Website to Educate Investors

The SEC Just Launched a Fake ICO Website to Educate Investors

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. The SEC Just Launched a Fake ICO Website to Educate Investors The U.S. Securities and Exchange Commission wants to ensure investors can identify fraudulent initial coin offerings - even if it has to launch its own to do so. The regulator announced Wednesday it has launched a mock ICO called HoweyCoin, presumably named after the Howey Test, which "touts an all too good to be true investment opportunity." However, the company notes, "the offer isn't real." Users who try to invest in the token sale will instead be redirected to the regulator's education tools, which are aimed at pointing out the signs of fraudulent token sales. According to the HoweyCoin website, most travel businesses "require processing, centralized currency, ...