Category Crypto Currency

Asia leads crypto selloff on China crackdown

All cryptocurrencies have taken a battering during the Asian trading session today as a huge selloff has commenced. Fears have escalated over further clampdowns in China and possible restriction in South Korea. The markets have fallen over 36% in the past week and total market capacity at the time of writing was just over $500 billion, down from $830 billion two weeks ago. Reports have emerged of another crackdown in China, this time on domestic crypto traders and their methods of accessing digital currencies. In its usual authoritarian style the government plans to block access to local and overseas crypto exchanges and prevent peer-to-peer trading. It is not the first time China has clamped down on crypto with a ban on exchanges in September and recent restrictions on power usage for mining operations. Mining factories and crypto exchanges have left China for friendlier countries such as Hong Kong and Japan. Bitcoin has declined from $14,500 this time last week to just over $11,000 today representing a drop of almost 25% in seven days. Looking at the month it has fallen over 45% and many chart analysts predict it could go as low as $8,000 before showing any sign of recovery. Ethereum has also fallen from its all-time high of $1,425 last week to just over $1,000 today. A more optimistic view can be seen on the three month chart where ETH is still around 200% up on its trading price of $300 back in early November. Ethereum has performed exceptionally well as many altcoin trades can now be made in ETH instead of BTC which is slower and costlier. The bloodbath has continued with all other coins and Ripple has taken the biggest beating with a 70% drop from its record peak of $3.80 to $1.20 today. Litecoin has also continued its downward slide from a high of $375 this time last month. The coin has dropped over 50% in a month to $185 where it trades today. Bitcoin Cash which has been holding a $2,500 level for a couple of weeks has dropped down below $2,000 again and even NEO which had a record high of $195 a couple days ago has lost a lot of its gains and fallen back to $135. Markets have recovered from Chinese clampdowns before and they are all still way up on prices three months ago. Panic selling and FUD seems to be fueling this current slide so those hodling may be inclined to buy the dips and stock up on their favourite cryptos. The post Asia leads crypto selloff on China crackdown appeared first on NewsBTC.

Metaverse Launches Global Ambassador Program

15 January 2018 – In line with Metaverse’s aim of expanding its global presence and increasing community engagement, we’re pleased to announce the launch of the Metaverse Ambassador Program: a comprehensive plan to support a community of driven blockchain enthusiasts and elevate their reach. Metaverse aims to revolutionize the way financial services and transactions are processed, and confidence is growing among financial institutions that blockchain technologies will ultimately transform how services are conducted, operated and delivered. As an extension of our vision of building a new reality, ambassadors will take the lead in fostering authentic and long-lasting relationships with the Metaverse community globally. Become an Ambassador We’re looking for global-minded and regional experts, practitioners, influencers, instigators and innovative and strategic thinkers who are:– Passionate about Metaverse’s vision and values– Ready, capable and motivated to nurture awareness about Metaverse and build connections around the world Benefits As an ambassador, you will receive exclusive opportunities to attend meetups, coaching sessions, and webinars that will expand your skills, knowledge base and social network. Apply to be a Metaverse Ambassador Join us on our journey towards constructing a new reality! Visit our website at https://mvs.org/Ambassador-Program.html for more information. The post Metaverse Launches Global Ambassador Program appeared first on NewsBTC.

Ripple Price Technical Analysis – XRP/USD Struggling to Hold $1.00

Key Highlights Ripple price made a sharp downside move and broke the $1.00 support against the US dollar. There is a crucial bearish trend line forming with resistance at $1.50 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently struggling to hold the $1.00 level and it may decline back towards $0.8500. Ripple price is struggling a lot against the US Dollar and Bitcoin. XRP/USD might decline further and it could retest the $0.8500 support area. Ripple Price Trend There was no respite for buyers as Ripple price extended its decline from the $1.2000 swing high against the US Dollar. After a minor correction towards the $1.50 level and the 38.2% Fib retracement level of the last drop from the $2.08 high to $1.49 low, the price faced sellers. It started a fresh downside wave and broke the $1.49 low and the $1.20 support. The decline was strong as sellers pushed the price below the $1.00 support. It traded close to the $0.8000 level. A low was formed at $0.8399 from where an upside correction was initiated. It recovered above the 23.6% Fib retracement level of the last decline from the $1.9027 high to $0.8399 low. However, there are many resistances on the upside such as $1.35 and $1.50. An initial hurdle is around the 50% Fib retracement level of the last decline from the $1.9027 high to $0.8399 low at $1.3713. Above this last, there a crucial bearish trend line forming with resistance at $1.50 on the hourly chart of the XRP/USD pair. Therefore, there is a major resistance near $1.35-1.50. As long as the price is below $1.50, there is a risk of a breakdown toward $0.8500 once again. Looking at the technical indicators: Hourly MACD – The MACD for XRP/USD is gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well below the 50 level. Major Support Level – $1.00 Major Resistance Level – $1.50 Charts courtesy – Trading View, Kraken The post Ripple Price Technical Analysis – XRP/USD Struggling to Hold $1.00 appeared first on NewsBTC.

Revolutionizing Cryptocurrency Exchanges with Streamity- the Smart Contract-Fueld Decentralized Exchange

2017 marked a monumental year for the spread and proliferation of cryptocurrencies and the new technologies they provide. This year, hundreds of cryptocurrencies are slated to launch revolutionary services, utilities, and environments the likes of which have never been seen. Despite these great progresses, the exchanges that provide access to these currencies are largely falling behind. Disclosure: This is a Sponsored Article In contrast to the wild successes experienced in the past year, hundreds of thousands of consumers had equally terrible experiences through many cryptocurrency exchanges. From Bittrex locking accounts for months, to Coinbase frequently crashing and losing wire transfers, to Binance prohibiting new users from creating accounts, most users of these platforms have experienced dilemmas at one time or another. Fortunately for consumers, there will soon be a next generation solution to the existing, archaic exchanges that plague its users with issue after issue. This solution is Streamity, a peer-to-peer cryptocurrency exchange administered and protected through Ethereum-based smart contracts. Introducing Streamity With Streamity, users can buy, sell, and trade any cryptocurrency through their decentralized exchange, StreamDesk. All trades are carried out through the use of smart contracts, which provide trustless, peer-to-peer transactions that protect participants from fraud. Users can place a buy or sell order on any cryptocurrency offered, which will lock the relevant funds within the contract. When another users agrees to fill the other end of the order, they, too, will send their funds to the contract. Once the smart contract receives both users’ funds, it automatically returns the desired currency for both parties. Additionally, users can also buy and sell cryptocurrencies for fiat, through the use of any payment gateway desired by the user. Like crypto-to-crypto trades, both parties agree on the price and method of payment, and the smart contract ensures that both users participate correctly and non-maliciously. Beyond smart contracts, StreamDesk participants will be protected through Know Your Customer (KYC) compliant environment. In order to interact with StreamDesk, all users must first provided proper identification documents, which will link the users to their person, which further prohibits bad actors from taking advantage of users. Beyond the exchange, Streamity plans to fund a series of educational and investment resources for its users. A current complaint of decentralized exchanges is the lack of a user friendly interface- many potential users are afraid or unwilling to participate due to the complex and even cryptic mechanisms in place. With these resources, new or inexperienced users will have a comprehensive set of learning materials to understand the nature of the exchange completely. Token Sale Of the 186,000,000 Streamity (STM) tokens, 110,000,000 will be sold at a price of US$0.20 and a maximum discount of 30%. Tokens may be purchased with Ethereum. The pre-sale begins January 22 and concludes January 2018, with a 30% discount to pre-sale participants. After the presale, remaining tokens will be sold in the main sale from March 12 to March 28. The exchange requires a minimum of US$500,000 to launch, and is slated to release Q1 2018. The more successful the sale, the further Streamity will be marketed and the more additional resources (such as the education and investment resources) will be implemented. Holders of the token receive a number of privileges, including reduced or even zero trading fees. Tokens will also be used to purchase monthly memberships, ranging from just US$1 to US$1,500 per month. Website Whitepaper

CHARLIE LEE WAS RIGHT: LTC SELLERS BREAK BELOW $200 AFTER PEAKING AT $400 35 DAYS AGO

After Charlie Lee bears, LTC sellers are picking up from where they left. Not only did they close lower but that multi-level support break out is significant. Will sell pressure continue? Definitely and judging from the kind of statement yesterday, volatility might slow down but we all know sellers are in charge. Let’s have a look at other alt coin charts NEM BEAR BREAK OUT CLEAR IN THE DAILY CHART XEMUSD 4HR Chart for January 17, 2018 For us to get a gist of NEM price action, let’s move our analysis to the daily chart. Here, you notice that last week’s double bar bear reversal pattern is on course and it is likely that bears will confirm that sell pressure. I mean, it can’t be rocket science to know why. Check out that close below middle BB which we have known to be our support and the breach of yesterday’s main support at $1.14. Zooming out to the 4HR chart and we have a sign, it’s a bear break out and we are looking for corrections back to the $1.14 before loading shorts. LUMENS DROPPING WITH TESTS AT $0.43 SUPPORT XLMUSD 4HR Chart for January 17, 2018 When our support at $0.55 was sliced like butter, the middle BB in the daily chart caved in. Guys, this is bad for Lumens valuation and buyers should consider exiting your positions. Even though we need a close below $0.43 before hammering that last nail on buy pressure, it is likely that prices will retrace towards $0.55 as a retest before sinking back below $0.43. Word of caution: Even though prices are extremely bearish in the daily and weekly chart, we cannot completely discount chances of price consolidation. Remember, $0.55 was our first support line but $0.43 is turning out to be significant. Already we are seeing hints of bear rejection but if indeed bears are in charge, we need a bear bolt right now. A clear incision with close below $0.38 will clear all our doubts. IOTA PRICES DANGLING AT THE CLIFF AS BEARS CHARGE IOTUSD 4HR Chart for January 17, 2018 Bear momentum is strong in IOTA and you can check out that distance between the middle BB and the lower BB. If that is not enough notice the candlestick banding along the lower BB. One thing can happen today, either a break out below $3.0 or rejection of lower prices. Undoubtedly, yesterday was bearish but $3 is also a strong support as highlighted on the chart. Evidently, IOTA bears have been testing this price tag in four different occasions over the last 3 or 4 weeks. It remains strong but given the set up in the weekly chart, break below might happen as prices try to wriggle out of consolidation. Let’s not forget, any convincing close below $3 and we set our eyes on $2.2 and even $1.1 in the coming days. DASH BEAR BREAK OUT DASHUSD 4HR Chart for January 17, 2018 Boom! Bears are are on a rampage and with that classic break out, we just have no option but to short and trade with the trend. However, at current prices, DASH is trading at around $780 and looking left, that is previous resistance now support. If price erosion continues, then sellers should aim at $600. AFTER CHARLIE LEE, ANOTHER BEAR WAVES BEGINS FOR LTC LTCUSD 4HR Chart for January 17, 2018 Yesterday, LTC sellers broke two levels of support meaning sell pressure is high. We are off consolidation for another bear break out and that is why our ideal sell target is back at $150. All charts courtesy of Trading View The post CHARLIE LEE WAS RIGHT: LTC SELLERS BREAK BELOW $200 AFTER PEAKING AT $400 35 DAYS AGO appeared first on NewsBTC.

Ethereum Price Technical Analysis – ETH/USD Bearish Below $1100

Key Highlights ETH price declined sharply and traded below the $1100 and $1000 support levels against the US Dollar. There is a new connecting bearish trend line forming with resistance at $1060 on the hourly chart of ETH/USD (data feed via SimpleFX). The pair is currently under a lot of bearish pressure and it could remain below the $1100 level. Ethereum price made a sharp U-turn against the US Dollar and Bitcoin. ETH/USD is recovering, but it is struggling to break the $1100 resistance. Ethereum Price Decline There were further bearish pressures on ETH price as it moved below the $1100 support against the US Dollar. The decline was such that the price even failed to respect the $1000 support. The price fell even below $900 and traded as low as $858.12. It seems like there is a lot of bearish pressure since the price broke the $1100 support area. It is currently recovering and moved above the 23.6% Fib retracement level of the last decline from the $1373 high to $858 low. However, the upside move is protected by the previous support at $1100. Moreover, the 50% Fib retracement level of the last decline from the $1373 high to $858 low is also acted as a resistance. At the moment, there is a new connecting bearish trend line forming with resistance at $1060 on the hourly chart of ETH/USD. The pair is once again showing bearish signs below $1000 and it may decline back toward $900 in the near term. If buyers fail to hold the $900 support, there can be a retest of the last swing low of $858. On the upside, a proper close above the $1100 level is needed for buyers to gain traction in the near term. Hourly MACD – The MACD is now strongly placed in the bearish zone. Hourly RSI – The RSI is showing a lot of bearish signs and is below the 50 level. Major Support Level – $900 Major Resistance Level – $1100 Charts courtesy – SimpleFX The post Ethereum Price Technical Analysis – ETH/USD Bearish Below $1100 appeared first on NewsBTC.