Month: July 2018

Ethereum Classic Price Analysis: ETC/USD Likely Forming Double Bottom

Key Highlights Ethereum classic price retested an important support area near $15.75 against the US dollar. There is a crucial bearish trend line forned with resistance at $16.20 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair may perhaps break the $16.20 resistance and the 100 hourly simple moving average. Ethereum classic price is under pressure against the US Dollar and Bitcoin. ETC/USD is likely forming a double bottom pattern near $15.75, which could ignite bullish moves. Ethereum Classic Price Support There were continuous declines…

126-Year-Old General Electric (GE) Invests in Blockchain Cybersecurity Startup

The venture capital arm of industrial conglomerate General Electric (GE) is one of the participants in a $12 million Series A fundraising round for Xage, a cybersecurity startup. The firm uses blockchain technology in securely linking industrial Internet of Things (IoT) devices. Other investors in the fundraising round, which is being led by March Capital Partners, are City Light Capital and NexStar Partners. Prior to the ongoing fundraising round, the valuation of Xage stood at around $35 million. The fundraising round comes at a time when there is an increasing…

Wanchain’s Bridge to the Ethereum Blockchain Is Now Open

Amber Baldet, former JPMorgan blockchain program lead (and current CEO of Clovyr), has expressed her doubts about the proliferation of blockchain protocols: “Each of these blockchains speaks a different language,” she said in April. Getting different blockchains to talk to one another has become a pressing issue, as more and more protocols pop up – eos, tezos, neo, cardano, not to mention the two incumbent giants, bitcoin and ethereum. The growing interoperability problem may be meeting its match, however. On Monday, the Beijing- and Austin-based startup Wanchain announced the live release…

Crypto Ads on Google | Are They Coming Back Now?

Crypto enthusiasts woke up to a surprise this Monday morning. It seems that, after a Western media ban, crypto ads on Google are back. Or at least, the search engine is back to promoting ads of Coinbase. Crypto Ads on Google: Once Banned, But No More At the start of this year, the crypto industry came to a standstill when websites like Facebook, Google, and Twitter placed a ban on their adverts. Leading the pack was Facebook, which banned crypto ads back in January. Google followed less than three months…

The G20’s Still Out on Regulation

Bitcoin is bullish and then some. The coin is still on an impressive bull-run. The run has extended over 10 days and doesn’t seem to be slowing. Yes, Bitcoin may have taken a step back here and there in its climb, but it has continually managed to take two steps forward.  At the time of writing the price is $7,710 – it did reach a two-month high of 7,800 earlier this morning – but the current stand-point still represents a rise of over 3.3% in the last 24 hours. Source: CryptoCurrencyNews.com…

Bitcoin Price Hits Two-Month High as Dominance Rate Spikes

Bitcoin’s (BTC) price clocked a two-month high of $7,820 today and looks set to extend gains further, a key cryptomarket gauge indicates. CoinMarketCap’s bitcoin dominance rate, an indicator that tracks the percent of the total cryptocurrency market capitalization contributed by the leading cryptocurrency, rose to 46 percent today — the highest level since December 20 — adding credence to BTC’s 20 percent rally seen in the last seven days. To start with, a rise in the BTC dominance rate essentially means the number one cryptocurrency is more in demand compared to the…

An $8 Million Airdrop Ran Out of Tokens – What’s Next Is Anyone’s Guess

“Scarcity” may be a crypto buzzword, but “shortage” has hardly made the footnotes – until now. In early July, the developers behind U Network, a blockchain publishing protocol valued at around $8 million, abruptly announced that it had run out of its reserve of UUU crypto tokens, and that it planned to buy back some of the supply it distributed to early investors through its airdrop in February. At the start of the project, U Network established a 10 billion UUU cap on its token supply (worth approximately $15.6 million), setting aside…

Crypto Trading 101: Stochastic Oscillators and Price Momentum

You may have heard of a lagging or leading indicator before. Maybe your friends have tossed around terms like bullish or bearish divergences, oversold or overbought conditions and what signals you should use to enter or exit the market. While there are many tools that can assist with this, one often overlooked indicator is called the stochastic oscillator. Nothing unique to the world of blockchain, the stochastic is a momentum indicator that compares the closing price of the asset with its high-low range over a certain period of time, it’s…

China’s Crypto Millionaires Are Using Bitcoin to Buy Real Estate Abroad

The chives growing in one crypto tycoon’s California mansion carry a hidden message. Guo Hongcai, a beef salesman turned early bitcoin adopter from China’s Shanxi province, is one of many freshly minted millionaires funneling parts of their wealth out of the country by purchasing real estate abroad. In April, Hongcai sold 500 bitcoin in the U.S. then used that money to buy a 100,000-square-foot mansion in Los Gatos, a 90-minute drive from San Francisco, California. His Rolls-Royce, also purchased with the fruits of bitcoin arbitrage, sits in the driveway close…

Crypto Trading 101: Bull and Bear Flags (And What They Mean for Price)

When it comes to making big money in trading, the trend is your friend. But spotting the trend when it is in the nascent stage is challenging, and running along with it right up to the top is an even bigger challenge. That’s because asset prices rarely see a 90-degree rally or collapse. More often than not, trends (bullish/bearish) will pause briefly to allow traders or investors who missed the initial move (higher or lower) to join the bandwagon. If the participation increases, the asset price extends the bull or bear…