Please share if you find this article interesting. Bitcoin's Price Slides Below $6.5K to Hit 70-Day Low The price of bitcoin, the world's largest cryptocurrency by market capitalization, fell to its lowest point since April 1 on Tuesday. Bitcoin's value slid to $6,455.92 during the afternoon trading session, dropping more than $280 in the span of two hours, according to data from CoinDesk's Bitcoin Price Index. This represents the lowest figure since the start of April when the BPI registered a low of $6,443. The charts suggest a support of $6436 – if current levels are broken, the next major support is $6000, borne from the lows from early February of this year. As of press time, the BPI is reporting a price of $6,523.86. As of press time, bitcoin is down 5.82 percent in the l
Please share if you find this article interesting. Dead Cat Bounce? Bitcoin May Struggle to Hold Above $7K Bitcoin (BTC) is looking to regain poise after its drop to two-month lows on Sunday, but the recovery will likely be short-lived, the technical charts indicate. At press time, BTC is changing hands at $6,825 on Bitfinex – up 3 percent from the two-month low of $6,619. The recovery could be associated with extreme oversold conditions highlighted by the relative strength index (RSI) yesterday and could be extended further in the next 24 hours. However, crossing $7,000 in a convincing manner will be easier said than done, as the area around the psychological hurdle is packed with key technical resistance lines. Further, the long duration charts have turned bearish, so holding o
Please share if you find this article interesting. What Would Happen to Crypto In a Global Market Meltdown? Michael J. Casey is the chairman of CoinDesk's advisory board and a senior advisor for blockchain research at MIT's Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. A common thought experiment in the crypto community is to ponder how cryptocurrencies would fare in the event of another global financial meltdown. It is not an idle question. There is a host of troubling developments in the global economy: the threat of a trade war, jitters in Italian debt markets, problems at Deutsche Bank and new emerging market crises in Turkey and Argentina. Meanwhi
Please share if you find this article interesting. $6K Next? Bitcoin Bear Market Back After 10% Drop The bitcoin market has come alive in the last 36 hours, with the bears gaining the upper hand and now aiming for fresh 2018 lows below $6,000. The cryptocurrency dropped nearly 10 percent on Sunday, hitting a two-month low of $6,619 on Bitfinex, having spent the last two weeks trading in the narrow range of $7,000–$7,800. Across the media, the price drop has been put down to a cyber attack on South Korean exchange Coinrail, revealed Sunday, and renewed concerns regarding security at cryptocurrency exchanges. However, a big move was expected anyway – as an extended period of consolidation or low volatility is often followed by a sharp move on either side – and prices started falli
Please share if you find this article interesting. Lithuania Issues Guidelines for When ICO Tokens Are Securities Lithuania's Ministry of Finance has issued guidelines on initial coin offerings (ICOs), outlining when cryptographic tokens would be viewed as securities and how each aspect of a token sale should be regulated by different laws in the country. According to the document published Friday, a defining feature in the recommended framework is whether a token "grants profits or governance rights" to investors who obtain the token through an ICO. While existing civil code should apply to all projects with tokens that can only be used as a payment tool or the right to access certain products, a variety of financial regulations should apply if a token grants profits or governan
Please share if you find this article interesting. Bitcoin Price Dips to Two-Month Low Below $7K The price of bitcoin dropped $500 in a single hour Sunday to hit a two-month low below $6,700. According to CoinDesk's Bitcoin Price Index, the world's largest cryptocurrency by market capitalization is now changing hands at $6,718, up slightly after reaching a daily low of $6,647, its lowest total since April 10. Indeed, data shows that over the last 24-hours bitcoin failed to find solid support in the $7,470 zone, before plummeting 11 percent to $6,647. For traders, this means bitcoin's two-month uptrend appears to be in question. Trading at around $6,700, bitcoin is now within striking distance of its 2018 low of $5,947 set in February. With the bitcoin price declining, so too ha...
Please share if you find this article interesting. The Top 5 Ethereum Dapps By Daily Active Users From the mists of ideation, a first wave of ethereum dapps is starting to emerge. Launched in 2015 with the promise that developers could use its technology as a "secure backbone" for a new kind of software application, ethereum has long held the promise of enabling such innovations, all "without any possibility of downtime, censorship or third-party interference." So far, however, this vision has largely fueled an explosion of fundraising through initial coin offerings (ICOs), in which ethereum-based tokens were sold as the native currency for applications that were ostensibly being built, but in many cases have yet to see a real launch. In other words, there is plenty of fodder for...
Please share if you find this article interesting. Which Way? Bitcoin's Low Volatility May Force Big Move Bitcoin has been squeezed into an increasingly narrow range for more than two weeks and is now experiencing volatility not seen for eight months. As a result, it's looking likely that bitcoin could soon make a strong move, but the direction it will take when that happens is less than clear. Since May 24, the cryptocurrency has been restricted to a range of $7,000–$7,800 range, which is already very tight, but the price has barely moved in the last 36 hours, likely indicating an indecisive market. Daily volatility, as indicated by the spread between the daily price high and daily price low, fell to $107.63 on Thursday – the lowest level since Oct. 2, 2017 and down 86 percent f
Please share if you find this article interesting. Bullish Signals Hint at Bitcoin Price Breakout Still stuck in a narrowing price range, BTC could soon rise to resistance above $8,000 if the bulls are able to leap the 50-week moving average hurdle. As of writing, the cryptocurrency is trading at $7,770 on Bitfinex, having been stuck in a narrowing price range (pennant) for months now. Defense of $7,000 last week and the 9.3 percent rise since then have neutralized the immediate bearish outlook and got investors talking about a possible rally to pennant resistance at $8,870. While that target may appear far-fetched, it may be put to test if bitcoin can first scale the key 50-week moving average (MA) resistance (currently located at $7,819) in a convincing manner. Weekly chart A
Please share if you find this article interesting. Binance Coin Hits Record High Against Bitcoin Binance coin (BNB), the token launched by the world's largest cryptocurrency exchange Binance, has hit an all-time high against bitcoin. BNB achieved the new milestone of 0.002287 BTC at 10:45 UTC Wednesday, and was last seen changing hands at 0.0022 BTC on Binance, up 8 percent since yesterday. The sharp rally pushed BNB's market capitalization to a five-month high above $1.9 billion, making it the 17th largest cryptocurrency by market capitalization. Further, the rally is backed by a 155 percent rise in trading volume over the last 48 hours, so the stellar gains look sustainable. Meanwhile, the binance coin-U.S. dollar (BNB/USD) exchange rate hit a 5.5-month high of $17.60 on Bina...