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
Please share if you find this article interesting. U.S. CFTC Seeks to ‘Provide Regulatory Clarity’ for Listing Virtual Currency Derivatives The U.S. Commodity Futures Trading Commission (CFTC) has issued an advisory statement for listing virtual currency derivative products, according to a CFTC press release published yesterday, May 21. The advisory statement is aimed at providing clarity for exchanges and clearing houses. The staff advisory, which was jointly issued by the CFTC’s Division of Market Oversight (DMO) and Division of Clearing and Risk (DCR), focuses on the specific areas involved in listing virtual currency derivatives on a designated contract market or swap execution facility. It covers the necessity for more market surveillance, coordination with CFTC staff, large
Please share if you find this article interesting. Blockchain-Driven AI Platform Vows to Solve $500 Billion Issue for the Retail Industry A platform is combining “cutting edge” artificial intelligence (AI) with the “immutable reliability” of blockchain to create a system where retailers and manufacturers can predict whether they are overstocking or understocking products – an issue estimated to cost the industry $500 bln a year. OSA DC, which stands for Optimal Shelf Availability Decentralized, says its system allows major brands and smaller chains to track product stock, inventories and orders with “pinpoint accuracy.” Shoppers also stand to gain from the platform, as its digital assistant would provide reliable information on a product’s origin, ingredients, traceability, and p
Please share if you find this article interesting. ICO Round-Up: Nearly 1 in 5 Offerings Accused of Fraud, Bermuda Passes Regulations, Thai SEC Holds Hearing Crowdfunding A recent “analysis of 1,450 cryptocurrency offerings” published by the Wall Street Journal has claimed to have revealed “rampant plagiarism, identity theft, and promises of improbable returns.” In other ICO news, Bermuda’s parliament has passed regulations that will legitimize initial coin offerings as a means of fundraising, and Thailand’s SEC held a hearing regarding its upcoming ICO regulations. Also Read: Onchain Capital Founder Bullish on BCH and ETH Wall Street Journal Accuses 18.7% of ICOs of Fraudulent Activities Of the 1,450 initial coin offerings (ICOs) recently examined by the Wall Street Journal
Please share if you find this article interesting. Bitcoin Price Watch: Can BTC/USD Hold 100 SMA? Key PointsBitcoin price formed a short-term top near $8,600 and started a downside move against the US Dollar.There was a break below a key bullish trend line with support at $8,370 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair must hold the $8,240 support and the 100 hourly simple moving average to avoid more losses.Bitcoin price is trading above a major support at $8,240 against the US Dollar. BTC/USD should stay above the 100 hourly SMA to trim recent losses.Bitcoin Price AnalysisAfter trading towards the $8,600 level, bitcoin price faced a selling interest against the US Dollar. The BTC/USD pair formed a short-term top at $8,596 and started a downside m...
Please share if you find this article interesting. PR: eToro Announces Expansion Plans - Bitcoin News This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. – Launch of a crypto exchange and wallet –– Bringing crypto offering to the U.S. market – Global investment platform eToro has today announced plans to expand its cryptocurrency capabilities and subject to regulatory approvals will launch an exchange and a digital wallet. eToro will also bring its cryptocurrency offering to the United States, launching the platform to U.S. cust
Please share if you find this article interesting. Ethereum Classic Price Analysis: ETC/USD Could Decline Further Key HighlightsEthereum classic price topped near $18.54 and declined below the $17.60 support against the US dollar.There is a short-term bearish trend line forming with resistance at $17.60 on the hourly chart of the ETC/USD pair (Data feed via Kraken).The pair may continue to decline and it could retest the $16.80 and $16.60 support levels.Ethereum classic price is currently under pressure against the US Dollar and Bitcoin. ETC/USD may decline further towards the last swing low of $16.60.Ethereum Classic Price DeclineRecently, there was a nice upside move above $18.00 in ETC price against the US dollar. The ETC/USD pair traded towards $18.50-60 where sellers emerged...
Please share if you find this article interesting. Ripple Price Analysis: XRP/USD’s Downside Break Key HighlightsRipple price declined recently after buyers failed to push it above $0.7100 against the US dollar.Yesterday’s highlighted crucial ascending channel with support at $0.6860 was broken on the hourly chart of the XRP/USD pair (data source from Kraken).The pair is now trading below the $0.6800 support level and the 100 hourly simple moving average.Ripple price made a bearish turn against the US Dollar and Bitcoin. XRP/USD may correct lower towards the $0.6600 support in the near term.Ripple Price ResistanceThere was no upside break above the $0.7100 level in Ripple price against the US Dollar. The price traded as high as $0.7060 before sellers appeared and pushed the price
Please share if you find this article interesting. Nchain Acquires Majority Stake in BCH-Application Handcash - Bitcoin News News On Monday the blockchain research and development firm, Nchain, announced the acquisition of a majority stake in the Bitcoin Cash-centric startup Handcash. The Handcash platform allows users to send BCH in a contactless manner using near field communication (NFC) technology. Also read: BCH Miners Discuss Funding Development With a Fraction of Block Rewards Nchain Acquires a Majority Stake in the BCH Platform Handcash This week the firm Nchain Group announced they had “closed a deal” that gives the company a large stake in the Handcash platform. According to Nchain, the deal was facilitated through the company’s investment arm Nchain Reaction. News
Please share if you find this article interesting. Ethereum Price Analysis: ETH/USD Back Below $700 Key HighlightsETH price failed to extend gains above the $724 level and started a downside move against the US Dollar.Yesterday’s highlighted important bullish trend line with support at $707 was broken on the hourly chart of ETH/USD (data feed via Kraken).The pair is now well below $700 and the 100 hourly simple moving average, which is a bearish sign.Ethereum price is under pressure against the US Dollar and Bitcoin. ETH/USD broke a key support at $708 and it may well trade below $680 in the near term.Ethereum Price TrendAfter a failure to move above the $724-725 resistance, ETH price started a downside move against the US Dollar. The price declined and moved below the $710 and $