Bitcoin Price Key Highlights Bitcoin price has formed lower highs and found support around $6500 to $7000 to create a descending triangle pattern. Price is bouncing off support and might be due for a move back up to the resistance around $9000. Technical indicators, however, are signaling that a breakdown might be due. Bitcoin price is trading inside a descending triangle and testing support, still deciding whether to go for a bounce or a break. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to the downside. This suggests that the selloff is more likely to resume than to reverse. Also, the moving averages could hold as near-term resistance levels in the event of a pullback. Stochastic is already indicating overbought conditions and could be due to move back down. This would reflect an increase in selling pressure and possibly send bitcoin price below the triangle support. In that case, price could fall by roughly the same height as the chart formation. Market Factors Bitcoin price was off to a decent start for the month and quarter but it seems that bulls are having trouble holding on to the gains. Risk appetite was present in recent trading sessions but dollar strength is also in play as geopolitical risks eased on cooling U.S.-China trade tensions. By the looks of it, investors are taking the recent bounce as an opportunity to liquidate their holdings at a better price while analysts predict that bitcoin price could take more hits in the months ahead. Then again, seasonal data suggests that bitcoin price tends to recover during the second quarter of the year so there could be some upside from here. Meanwhile, US NFP data due later in the week could also set the tone for dollar action and risk sentiment in the financial markets, which also typically affects bitcoin direction. The post Bitcoin Price Technical Analysis for 04/04/2018 – Triangle Support Holding! appeared first on NewsBTC.
Key Highlights ETH price moved higher and was successful in breaking a major resistance near $390-395 against the US Dollar. Yesterday’s highlighted major bearish trend line with resistance at $395 was breached on the hourly chart of ETH/USD (data feed via Kraken). The pair traded above the $415 level before starting a downside correction recently. Ethereum price is showing a few positive signs against the US Dollar and Bitcoin. ETH/USD remains supported on the downside around the $400 and $395 levels. Ethereum Price Support There was a decent start to an upside wave from the $370 level in ETH price against the US Dollar. The price gained momentum and it was able to break a major resistance near the $390-395 zone. It also cleared the 50% Fib retracement level of the last decline from the $430 high to $360 low. It opened the doors for more gains and the price moved above the $400 level. More importantly, yesterday’s highlighted major bearish trend line with resistance at $395 was breached on the hourly chart of ETH/USD. The pair traded as high as $417.84 before it faced sellers. Later, a downside correction was initiated and the price moved below $410. It also traded below the 23.6% Fib retracement level of the last wave from the $359 low to $417 high. However, there is a major support near the $400 level and the 100 hourly simple moving average. Furthermore, the 38.2% Fib retracement level of the last wave from the $359 low to $417 high may also act as a support around the $395 level. If the price fails to stay above the $395 and $390 supports, there could be a retest of $360. On the upside, the price has to move past $317-320 zone for more gains in the near term. Hourly MACD – The MACD is moving back in the bearish zone. Hourly RSI – The RSI is moved back below the 50 level. Major Support Level – $390 Major Resistance Level – $417 Charts courtesy – Trading View The post Ethereum Price Technical Analysis – ETH/USD To Gain Traction? appeared first on NewsBTC.
There’s good news for Bitcoin Cash users as Trezor announces upcoming support for cashaddr, a BCH address format. The announcement is a significant development for Bitcoin Cash as support from the most popular hardware wallet could spell new money coming into the market, or at least increased security for those wishing to safeguard their investment The post Hardware Wallet Trezor Confirms Upcoming Cashaddr Support for Bitcoin Cash appeared first on CCN
Litecoin was given a big boost Tuesday when the American Express-backed crypto trading app Abra solidified its decision to use Litecoin smart contracts feature to power its products, gaining as much as a 15% in trading price over the day as reported by Business Insider. Litecoin gets Big Boost from Abra Announcement Creator of Litecoin Charlie Lee has been hinting there was big news in the making for a while and now its dropped in the form of Abra; a new app that allows people to invest in 20 crypto and 50 fiat currencies with no fees, almost instantaneously using the power of Litecoin smart contracts. Abra startup CEO Bill Barhydt explained the reasons for changing from Bitcoin to Litecoin in a Reddit AMA on Tuesday, April 3. Responding to a question about the decision he broke it down like this; “We went with Litecoin as the second asset class, after bitcoin, for our smart contract investing solution for 3 primary reasons: 1. commitment to bitcoin compatibility: core roadmap, p2sh support, lightning support, etc; 2. slightly better scalability than bitcoin in short term (block size and block times); 3. mining fees which are primarily a function of #2 although this is more of a short term benefit as mining fees would likely sky rocket if we’re successful anyway!” Though the announcement was made at the end of March there was little buzz effect until after the AMA. Abra has thus far raised over $40 million including undisclosed amounts from American Express and Foxconn, Apple’s Asian parts manufacturer. How Abra Works Barhydt fielded questions about how he plans to compete with trading giants like Binance and Coinbase by saying that Abra is not a trading platform but a simple app intended for use by retail investors to gain access to many kinds of assets, he went on to explain; “We enable this investment exposure using a synthetic cfd like model based on p2sh multi-sig scripts on the litecoin and bitcoin blockchains. Our goal is to open this up to different asset classes over time, not just the top 20 cryptos and fiat but even stocks, commodities, etc. An example of this vision that we hope to bring to market in the future is for someone in Ghana to buy exposure to Apple … using the same app you’re able to download today from the app store.” If Abra can attract a significant amount of users it will further drive demand for Litecoin which in turn could reduce the circulating amount of LTC, pushing the trading price up. If nothing else Abra’s decision to choose Litecoin over Bitcoin or Ethereum adds credibility and may boost investor confidence in its future. The post Litecoin Lifted from Amex Backed Abra Announcement appeared first on NewsBTC.
Petro, the cryptocurrency launched by the government of Venezuela in February 2018, is being considered by Russia as a means of international transactions, according to the Venezuelan Foreign Ministry. Venezuelan-backed Cryptocurrency Could Be Used By Russia A Russian-Venezuelan high-level intergovernmental meeting taking place in Caracas is discussing a number of issues, including bilateral cooperation in the military area, railroad projects in Venezuela, and food production. According to officials of the Venezuelan Foreign Ministry, the Bolivarian Government of Venezuela is adding the cryptocurrency Petro to the conversation. The meeting aims at strengthening the alliance between the two countries and the strategic partnerships between key companies, such as the Petromonagas project between Russian energy company Rosneft and Petroleos de Venezuela S.A. (PDVSA). Venezuela considers Petro as an opportunity to consolidate the strategic alliance and the trading relationship between the two countries. According to Time magazine, there is evidence to suggest that the Venezuelan oil-backed digital currency was helped into existence by Russian officials, bankers, and businessmen. The theory is that Russia wants to use the currency as an experiment in dodging US sanctions placed against the Eastern power. The oil-backed cryptocurrency had a month of presales before entering the market in March. According to Venezuela’s President Nicolas Maduro, Petro raised $735 million in the first day of its presale. The Bolivarian Government plans to use Petro in four “exclusive economic zones” in the country, in which it will be possible to use the cryptocurrency “for the sale of goods and services”, President Nicolas Maduro said in February. Despite the launch of Petro as its own national cryptocurrency, there is growing demand for Bitcoin in Venezuela. In March, a new record was set for Bitcoin trading in Venezuela, with a total value of over 1 trillion Bolivares worth of BTC changing hands. The country is plagued by massive inflation, which forces the Venezuelan people to find secure ways of storing value. Bitfinex, the Hong Kong-based cryptocurrency exchange, has recently refused to list ‘El Petro’, arguing that the digital currency offers “limited utility” and that listing the first ever state-issued digital currency “could be construed as an attempt to circumvent legitimate sanctions against the GOV.” Venezuela is also preparing to launch another cryptocurrency, backed by gold and other precious metals. Like with Petro, cryptocurrency enthusiasts argue that a centralized government creating a decentralized currency defeats the purpose of the technology entirely. The United States government has warned investors that Petro appears to be an extension of credit to the Venezuelan government. President Donald Trump issued an order prohibiting U.S. citizens from engaging in transactions using Petro as part of a campaign to pressure to the Venezuelan government. The Treasury Department called it “another attempt to prop up the Maduro regime, while further looting the resources of the Venezuelan people.” The post Russia In Talks With Venezuela to Use ‘El Petro’ appeared first on NewsBTC.
The digital assets gain the popularity today. Many people have learned how to earn cryptocurrency, but lots of them still experience difficulties about its withdraw or exchange, without knowing what ways are the fastest, the safest and the cheapest. It is necessary to use one of especially existing services in order to realize the cryptocurrency exchange. The simplest in use are the cryptocurrency exchanges, but there are just too many of them. So, how the ordinary crypto enthusiast should choose one of such online services with the smallest losses and risks to exchange the digital assets? The solution of this problem became the base for the creation of the new, convenient, fast and safe exchange – the GOEX platform. The founders of GOEX have thought how to provide to users the service which they could choose and use due to the comparative advantages on such a competitive market. Features of the GOEX exchange service for cryptocurrency One of the key conditions which stimulate the user to choose a certain exchange is a favorable rate of exchange. GOEX provides the service for instant cryptocurrencies exchange providing the best rates on the market. It becomes possible because of the market engine of the platform which analyzes the prices of the cryptocurrencies on the other exchange platforms and finds the best. Thus, rates in GOEX aren’t fixed, they are dynamic. There are two sides of the medal in this case. On the one hand, the lack of the fixed rates allows the GOEX platform to provide the minimum commissions to hold the exchange transactions because the service doesn’t need to undertake the risks of high volatility of cryptocurrencies rates and to add it to the platform’s commissions. Competitive rates and the low commissions are good advantages for the exchange service. However, there is a small problem about the dynamic rates: during the transaction the rate can slightly differ from the initial one. This problem can be compensated by the high speed of exchange transactions which is guaranteed by the GOEX founders. The cryptocurrencies exchange via GOEX is carried out quickly enough because the speed of transactions depends only on the basic speed of convertible currencies confirmation. An important difference of GOEX from the centralized traditional exchanges is the fact that users don’t need to keep a certain quantity of cryptocurrency in their wallets for the future exchange. Thus, other exchanges support an assets flow, necessary for the exchange transactions implementation. This makes the digital assets of users vulnerable. There is a risk of the possible loss of assets which can happen because of exchanges vulnerability to the hacker’s attacks. The user just sends a certain quantity of cryptocurrency via GOEX which has to be exchanged and then receives the equivalent sum in the acquired cryptocurrency to the wallet. The platform supports the most popular cryptocurrencies such as Bitcoin, Ether, Litecoin and Bitcoin Cash. The list will constantly extend. The current state of the GOEX exchange service The exchange works on the platform at the official GOEX website. Despite the short period of its functioning, the GOEX exchange service becomes more and more popular. Nowadays, from 50 to 170 exchange transactions per day are carried out within the platform and 204 transactions are the maximum amount of transactions carried out per one day. The users of the GOEX cryptocurrency exchange platform choose it for many reasons: the key advantages, such as speed of transactions, low commission, the safety of operations and the convenience of service and 24/7 support. The GOEX has got the simple and intuitively clear interface which is used on the website through which all the exchange processes are carried out. So users of the platform usually have no questions about how to use a service. Firstly, the user sees the window for exchange transactions implementation right on the homepage of the website where cryptocurrencies and wallets requisites for sending and receiving cryptocurrency are entered. After that, the GOEX platform will generate the address of a wallet for a deposit where the exchanged cryptocurrency sends. In several moments the user will get the cryptocurrency which he requested in an exchange window. In case of any questions or problems, GOEX support is always there for their users and anyone can ask for the help 24/7. The constant feedback, certainly, is a pleasant bonus which gives confidence that any issue can be resolved quickly and without excess bureaucracy. Every user decides whether to choose the GOEX platform as a service for cryptocurrency exchange or not. However, taking into account many advantages of GOEX, it will obviously find the audience and will occupy the niche in the market. The platform shows excellent indicators concerning the number of the carried-out transactions per day right now. This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.
DALLAS, TX – Randi Zuckerberg, the former Director of Market Development of Facebook and sister of Mark Zuckerberg, has just been announced as the latest headline speaker to talk at the Future Tech Expo. She will join more than 100 other respected players in the blockchain, artificial intelligence, and other future tech industries – to give attendees the inside scoop on where the Fourth Industrial Revolution is headed and reveal how “smart money” is getting behind emerging technology. “Almost everyone knows about Mark Zuckerberg”, said Mr. Jacobs, who is the Future Tech Expo’s organizer and host. “But what most people don’t realize – not unless they’re pretty well plugged into the tech industry – is that Mark’s sister Randi also played an important role in transforming Facebook from a college-dorm startup into one of the world’s most valuable companies.” “She’s EXTREMELY well connected – and knows things about the tech revolution that, frankly, just isn’t public knowledge right now. Just one or two insights from Randi could give us a huge edge over other investors. So I, for one, will be taking very careful note of what she reveals to us.” The Future Tech Expo 2018 takes place on September 14-16, in Dallas, TX. It’s bringing together more than 100 developers, entrepreneurs, venture capitalists, and other respected industry players – from the fields of blockchain, artificial intelligence, quantum computing, virtual and augmented reality, cybersecurity, and other emerging technologies – so they can give you the inside scoop on how “smart money” is getting behind the Fourth Industrial Revolution. The first 200 attendees who register before midnight on Good Friday (March 30th) will receive a complimentary Crypto Easter bonus box, which contains an assortment of cryptocurrency and future tech-related gifts, including a bag of chocolate Bitcoin in time for Easter. Inside the Crypto Easter bonus box is also a sealed envelope that contains the first clue for a virtual cryptocurrency Easter egg hunt, which is taking place on Easter Sunday. (Prizes include an Amazon Echo Dot, a Nano S hard wallet, a VIP upgrade to the conference, and $500 of cryptocurrency.) Ready to purchase a ticket and secure a Crypto Easter bonus box? Tickets are available here: https://www.thefuturetechexpo.com/register/ Want to find out more about this conference? Join the free notification list over here: https://www.thefuturetechexpo.com/notification-list/ Press contact: Richard Jacobs [email protected] (888) 448-4590 About the Future Tech Expo: The “blockchain revolution” is no longer just about blockchain anymore. In 2018-19 and beyond, blockchain tech is converging with quantum computing, artificial intelligence, cybersecurity, and other emerging technologies – and driving what economists call the “Fourth Industrial Revolution”. The Future Tech Expo is the only conference that gives attendees the full picture on how “smart money” is betting on the fourth industrial revolution. That’s because it is bringing together more than 100 of the most respected developers, entrepreneurs, venture capitalists, and “smart money” investors from all the most important emerging technology fields – not just blockchain tech. This three-day conference will be held at the Dallas Convention Center, close to Dallas/Fort Worth International Airport, in September. We are expecting more than 5,000 attendees, 100 headline speakers, and 150 exhibitors – with talks from founders, developers, and early-stage investors in blockchain, quantum computing, artificial intelligence, virtual and augmented reality, cybersecurity, and other emerging technologies that are set to disrupt almost every sector of the global economy. More information is available at: https://www.thefuturetechexpo.com/register/ This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.
Following reports in March, Chinese mining rig manufacturer Bitmain has officially announced the release of the Antminer E3, an application specific integrated circuit (ASIC) engineered for mining Ethereum. These new ASIC miners should alleviate some of the pressure that the graphics processing unit (GPU) market currently faces, but many in the cryptosphere fear that the move will drastically increase mining centralization. Mining With GPUs At the beginning of last year when Ethereum was on the up, the GPU market started to feel the brunt of the excitement, and by mid-year GPU prices had begun to spiral out of control. To date, gamers across the globe are still feeling the “Ethereum effect,” with graphics cards selling for far more than MSRP — if they are even able to be found at all. It used to be possible to mine Bitcoin with home PCs, but these days it’s very difficult to turn a profit. This is primarily because the Bitcoin mining market is now dominated by ASIC miners, which are engineered to do one thing: mine Bitcoin. These specialized devices are more powerful, and significantly more efficient at mining than graphics cards and CPUs. Ethereum was intended to be ASIC-resistant because it relies heavily on fast memory; traditional ASIC miners feature powerful processors that can crunch the numbers, but not much in the way of memory. Bitmain has not yet revealed the full details of the Antminer E3, so it’s not clear how the company solved this problem. However, the specifications that Bitmain did release indicate that it’s possible the Antminer E3 ASIC miners will soon render GPUs obsolete for Ethereum. Another problem for crypto-enthusiasts and the GPU Ethereum mining market is the Antminer E3’s competitive price. Bitmain is only asking $800 for each unit, a price that massively undercuts the current rate for a GPU-based system, which can add up to several thousand dollars. Bitmain expects the first batch of Antminer E3 units to ship between July 16th and July 31st. Hard Fork? Earlier this week, in response to reports in March that Bitmain was in the process of developing an ASIC for Ethereum mining, Ethereum developer Piper Merriam opened up Ethereum Improvement Proposal (EIP) #958. EIP #958 requests community input on whether or not the cryptocurrency’s blockchain should render the (at the time) rumored Bitmain ASICs virtually obsolete. Such hardware would effectively diminish the ability for GPU miners to compete and, in doing so, drastically increase centralization. Merriam, in EIP #958, wrote: “…BitMain may already running these miners. I believe it is the accepted wisdom that ASIC based mining leads to increases centralization when compared to GPU mining… Should we hard fork to make ASIC mining harder and to demonstrate a willingness to hard fork any future ASIC based ethereum mining?” Although these are just discussions (not full-fledged proposals), Ethereum appears to be at a crossroads, and the community must soon decide if the risks of a hard fork outweigh those of letting Bitmain potentially centralize the Ethereum mining market. If early polls are any indicator, a hard fork could be on the horizon. The post Bitmain’s ASIC for Ethereum Mining Is Here, Some in Community Considering a Hard Fork to Render the Rig Obsolete appeared first on NewsBTC.
In regards to the current climate of Cryptocurrencies and Blockchain, Regulation, volatility and scams have all seemed to suppress the fact that Blockchain technology itself is an amazing technological advancement in todays age. UK based Smart Startup Company, founded by social and technology entrepreneur Simon Krystman promises to make it simple for ordinary businesses to benefit from the transparency and security provided by the blockchain, by launching SMRT (Smart Startup Token) contracts. The aim is to create a frictionless trade platform for startups and SMEs. SMRT describes itself as a “vending machine for legal documents” that are then secured in the blockchain. The need to create contracts can be extremely onerous for start-ups, in terms of both money and time. Blockchain offers the opportunity to make enforcement cheaper and easier. However, few small businesses have the resources or understanding of blockchain technology to utilise it. The SMRT templates will cover the contractual areas that startups and small businesses encounter, such as shareholder and intellectual property agreements. They will also cover finance and trading agreements in the way the Ethereum blockchain was originally designed for. Simon Krystman explained: “Established trading marketplaces could benefit enormously from our smart contracts, as buyers and sellers will have automatically enforced agreements to transfer money for goods and services. They also open the way for many new decentralised marketplaces, where the smart contracts are the enforcements of trade. Small businesses would be able to buy bundles of our smart contract templates to facilitate their sell/buy trades.” The pre-ICO for investors is now open and ends on the 21st April 2018. Pre-ICO investors will receive a 50% Bonus for any SMRT purchases. Team The SMRT team are highly skilled and experienced in running successful businesses. They have a wide variety of talent, connections and expertise in blockchain, AI, entrepreneurship, funding, intellectual property, government and regulation, giving SMRT a very solid base. Some team members are working in an advisory capacity, while holding down high-profile jobs in industry, government and academia. Others are working full time to build the infrastructure of a world leading company. Upon completion of the ICO, the team will be expanding to bring onboard more in-house software developers, lawyers and finance specialists, building an internal infrastructure and one to manage partners. Syed Kamall, Member of the European Parliament is the Regulatory Advisor to the SMRT Project, advised; “The technology offers some very exciting opportunities but as legislators internationally, we must also make sure that consumers have trust in it. Blockchain and smart contracts will be a game changer for startups.” Simon Krystman concluded; “The core of our company is the marriage of legal agreements with blockchain software code, supported by data science and AI. Our key partners represent this core and employ leading practitioners in their respective domains.” 50% Bonus for Pre-ICO contributors Visit https://smartstartuptoken.tech to find out more and join the Pre-ICO now. Risk Warning This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. Your capital is at risk. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.
The Japanese police have stated earlier today that they have arrested a Chinese man in connection with a fraudulent account at one of the nation’s cryptocurrency exchanges. According to the authorities, the man later sold the account to a criminal group for profit. Chinese Man Bought Stolen Details From One Group and Sold Them to Another The arrest has been made against an executive living in Tokyo named Lin Xiaolin. The 30-year-old was detained on March 15. According to reports in the South China Morning Post, Lin Xiaolin had opened an account at a Tokyo-based digital currency exchange last July. He’d accessed the exchange’s server from China and used details of an unnamed Vietnamese person to register the account. These details are believed to have been obtained through Facebook messages. The identity of the Vietnamese individual is thought to have been purchased for around 30,000 yen – the equivalent of about $315. The details included the name, date of birth, address, and other information typically required to setup accounts at online services such as cryptocurrency exchanges. This data was used to open the fraudulent account at the unnamed Tokyo-based exchange between July 6 and 9. The accused denies all the allegations made against him. According to the Japanese authorities, after creating the account, Lin immediately sold it to a criminal group. The sum received is reported to have been around 100,000 yen, or about $945. The police believe that the group have been using fraudulent accounts at cryptocurrency exchanges to convert funds taken from third parties to other currencies. Lin Xiaolin is thought to have opened at least six other cryptocurrency exchange accounts. The authorities allege that no less than three of these have been used in illicit transactions. This February, the Tokyo police have detained four other Vietnamese individuals in connection with Lin. This group are thought to have been providing the accused with the information needed to set up the fraudulent accounts. However, at the time the decision was made to not indict the quartet. The news of Lin’s arrest comes at a time when the Japanese Financial Services Agency is trying to clean up the nation’s cryptocurrency exchange scene. According to the watchdog, many of the exchanges in Japan lack adequate security measures. This was highlighted recently by the hacking of major Tokyo exchange, CoinCheck. During the hacking, cybercriminals were able to make off with over half a billion dollars. This represents the largest hack of a crypto exchange to date. The hack was handled admirably by the exchange. They quickly refunded all of the appropriated funds. Earlier today, we reported that Tokyo-based trading brokerage Monex have expressed interest in buying CoinCheck. The post Tokyo: Man Arrested for Selling Crypto Exchange Account to Criminal Group appeared first on NewsBTC.