We have reached the final day of the week in our bitcoin price trading efforts and what a final few days it has been. The bitcoin price broke through the $5,000 mark late on Wednesday evening, early Thursday morning depending on where you are and, subsequent to the break, hasn’t really looked back. We are now sitting at a point where price has run more than $1,000 in less than 24 hours and this is where things get a little bit hairy. There is every chance that we may see a near-term correction and, if we do, the extent to which price gives back value to markets is tough to call. As long as we don’t get any severe fundamental shocks (like we did out of China last time) then things should stay relatively subdued. Anyway, whatever happens, we are going to make sure we will be ready. Let’s get
$6k Bitcoin Price Almost Comes True as Forks Flounder, Investors Hold Bitcoin has posted further all-time highs of almost $5800 after climbing $1000 in 24 hours. Beginning Thursday, a price surge gained momentum to take the Bitcoin BTC chain over $5000 for the second time in history. When resistance came at $5200, prices remained above the significant boundary before continuing to new heights never before seen. BTC posted a new high of $5798 in the early hours of Friday. At the same time, forks of Bitcoin, namely Bitcoin Cash (BCH) and SegWit2x futures, either failed to appreciate or dropped in value. BCH, which debuted for Blockchain.info users Thursday, is worth only around 35 percent of what it was in August. SegWit2x hedging, which is confined to Bitfinex, also disappointed use...
Bitcoin Mining Looks Ready to Fall Under Russian Regulations A few months ago, the talk was that Russia was actually looking to subsidize mining costs. However, that seems to have been a ploy to perhaps gain control over miners and get them to register with the government for more than just protection from money laundering. Bitcoin mining in Russia has long operated in a ‘legal grey area’, thanks to lack of regulation, as well as reasonable electricity, which has made home-mining operations possible and profitable. However, with Russia’s recent crackdown on cryptocurrencies, through the banning of access to exchanges, the iron-fisted government is also taking aim at miners. Putin’s crackdown Russian President Vladimir Putin called for regulation of cryptocurrencies at a meeting with
PR: Zavodcoin. Investing in the Piping Industry Made Easy - 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. Cherepovets pipe-rolling plantReorganization of production with funds attracted through ICO.Unique project of the enterprise from real sector of economy in crypto-currency. Modernization of available and creation of new production in two most promising lines consisting of several stages and development vectors is carried out in the territory of production facilities of LLC “ChPRP” in the city of Cherepovets,
Bank of Lithuania Encourages Financial Institutions to Withhold Services From Companies Operating With Virtual Currencies Regulation The Bank of Lithuania has issued an official position regarding initial coin offerings (ICOs) and cryptocurrencies, in which the central bank encourages banks to withhold financial services from businesses operating with virtual currencies. Lithuania’s central bank also expressed its belief that ICOs should be regulated as securities. Also Read: Lithuania Shows ‘Serious Intentions’ in Blockchain Innovation Lithuania’s Central Bank Has Discouraged Companies From Engaging in a Range of Activities Relating to Cryptocurrencies According to a press release published by the Bank of Lithuania, “financial market participants should not engage in the sale
Slovenia Aims to Become the Leading Blockchain Technology Destination in Europe The government of Slovenia has announced that it aims to position the country as the leading destination of Blockchain technology in the European Union (EU). The government is also studying the potential applications of the technology in public administration. In his speech at the Digital Slovenia 2020 event in mid-October 2017, Prime Minister Miro Cerar stated that the country’s regulatory agencies and ministries are already studying the technology and its potential applications. "The regulatory bodies and ministries are already studying Blockchain, and the state is participating in activities at European level in the area of the introduction and regulation of this technology. We are also already layin
Hello and welcome to News BTC’s Market Outlook October 13.[embedded content] DASH/USD DASH fell slightly during the day on Thursday, as we continue to bounce around the $295 region. I think that the $300 level above will continue to offer resistance, but if we can break above there, the market should continue to go towards the $315 level. Ultimately, crypto currencies in general have done very well, and I think that it’s only a matter of time before we go much higher. LTC/USD Litecoin initially dipped lower, reaching towards the $49 level before finding buying pressure. We broke out towards the $54 level, and I think there is a significant amount of resistance at the $55 level. Ultimately, this is a market that should continue to offer buying opportunities on pullbacks, and it’s likely t
Hello and welcome to News BTC’s Market Outlook October 13.[embedded content] ETH/USD Ethereum rallied during the day on Thursday, reaching towards the $308 level, but then pulled back towards the $302 level to find support. The 20 SMA has offered support, and it looks as if we are going to continue to grind towards the $314 level above. I believe the pullbacks continue to offer value, and I also believe that if we can break above the $315 level, the market will then reach towards the $325 level. I have no interest in shorting Ethereum. ETH/BTC Ethereum fell during the day on Thursday, breaking down towards the 0.059 level against Bitcoin. This is a market that is probably going to continue to favor Bitcoin, as we have seen such a massive breakout in the BTC/USD pair. Ultimately, this is
Hello and welcome to News BTC’s Market Outlook October 13.[embedded content] BTC/USD Bitcoin rallied significantly during the day against the US dollar on Thursday. We reached towards the $5200 level, getting a bit overextended. A pullback at this point would be a nice buying opportunity, as we certainly have a lot of buying pressure underneath. However, you cannot chase a trade like this, you have to wait for value to come back into the marketplace. I now think that the $4900 level offers a bit of a floor. BTC/JPY Bitcoin also rallied against the Japanese yen, reaching towards the ¥580,000 level. I think at this point, pullback is a buying opportunity, and we should see a significant amount of support near the ¥550,000 level. Ultimately, this market goes much higher, perhaps reaching to
Key Highlights Ethereum classic price is back in the bearish zone below $12.00 against the US Dollar. The ETC/USD pair is about to break a contracting triangle support at $11.50 on the hourly chart (Data feed via Kraken). The pair might continue to decline and could even test the $11.10-11.00 area. Ethereum classic price is slowly moving down against the US Dollar, and fell sharply versus Bitcoin. ETC/USD might extend declines below $11.50. Ethereum Classic Price Resistance There was no upside move in ETC price above the $12.00 against the US Dollar. The price started a downside move after correcting towards the $12.00 level. Before the mentioned failure, there was a break above the 50% Fib retracement level of the last leg down from the $12.50 high to $11.02 low. However, the price failed...