Day: August 5, 2018

Don’t Expect New Bitcoin Highs in 2018

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Tuur Demeester is an economist and investor. The following article references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for that. Despite an already six month cool-off period, for 2018 we see more sideways and downside potential in the bitcoin price due to sluggish retail demand, hesitation from institutions and a current market cap that seems too high relative to the activity occurring on available blockchains. Many investors and advisors are on record stating that $5,700 was…

Star Bucks Yet To Accept Bitcoin Payments

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Regardless of all these strong fundamentals ranging from CoinBase custodial services to Star Buck “acceptance of Bitcoin” via International Exchange, Bitcoin (BTC) isn’t finding any support. As a matter of fact, it looks likely that sellers might drive prices below $6,800 this week. Of course, when this happens, our long position would no longer hold. From the News It’s back to Mt Gox bankruptcy proceedings and while Koyabashi, the trustee holding more than 250,000 BTCs, won’t be liquidating BTCs as before, investors won’t have a lee way to receive compensation…

IOTA, EOS, Litecoin, Stellar Lumens, Tron Technical Analysis

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Even with our altcoins optimism, there seem to be no demand to buoy further higher highs. We can rightly see that in Stellar Lumens, Litecoin and IOTA charts. Most noteworthy from all altcoins under our review is IOTA which is simply ‘flat” despite announcement of IOTA Hub. This hub allows for easy exchanges integration and listing of IOTA. By all accounts that was bullish but as long as prices are below $1, we are neutral but with a heavy bearish leaning. EOS Technical Analysis From the News Dan Larimer, the…

Bitcoin Hovers Near $7,000, While Altcoins Show Marked Signs of Recovery

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August 5: After yesterday’s market nosedive, Bitcoin (BTC) is up just slightly, hovering around the $7,000 mark. All major altcoins are however showing marked signs of recovery, up between one and seven percent, as data from Coin360 shows. Market visualization from Coin360 Bitcoin (BTC) is trading around $7,040 to press time, holding ground on the day after its rapid tumble yesterday back to a price point not seen since July 17. The leading cryptocurrency could now be eyeing $6,800 as a short-term support, after several faltering pushes above the $7,000…

‘No Coffee for Bitcoin,’ Starbucks Clarifies as Media Misrepresent Its New Crypto Venture

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Starbucks has clarified that it will not be accepting Bitcoin (BTC) or other cryptocurrencies as payment, despite misleading reports from mainstream media, a spokesperson told Motherboard Friday, July 3. Earlier on Friday, New York Stock Exchange (NYSE) operator the Intercontinental Exchange (ICE) announced plans to create a new “global platform and ecosystem for digital assets,” dubbed “Bakkt,” alongside a group of big name enterprises including Starbucks, BCG and Microsoft. Following the major announcement, a number of mainstream media outlets, including Bloomberg and CNBC, ran misleading headlines –– such as CNBC’s…

Weekly analsysis of BTC charts!

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August 5,2018 Bitcoin Analysis Daily/Weekly charts Chart provided by Tradingview.com   On the Bitcoin (BTC) Daily Chart you can see in the first section that since the start of the year BTC has been making a series of lower highs and there is no sign that this is changing as of now.  Until BTC can make a higher high from the July high then BTC has limited upside.   The 2nd section which is the MACD shows that there are 3 crossovers to the downside after each high in price. …

Both Kim Kardashian and the Operator of the New York Stock Exchange Get Into Bitcoin

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Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link. Top Stories This Week New York Stock Exchange Operator Announces Digital Assets Platform, BTC Futures Intercontinental Exchange, the operator of 23 global exchanges including the New York Stock Exchange (NYSE), has announced plans to launch an “open and regulated” global digital asset ecosystem, as well as one-day…

Jamie Dimon Says JPMorgan Will Use Blockchain ‘for a Whole Lot of Things’

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JPMorgan Chase’s Jamie Dimon was bullish on blockchain tech, but shied away from commenting on cryptocurrency, saying fiat payment apps are “the biggest potential disruption to our business” in an interview published in the July-August issue of the Harvard Business Review. When asked about his company’s chief competitive threat, Dimon, chairman and CEO of JPMorgan Chase — the largest of America’s Big Four banks — singled out what he called “new forms of payment.” Specifically naming PayPal, Venmo and Alipay, Dimon said that “these companies are doing a good job…

Crypto Market Valuation Drops Back to $250 Billion, Volume Declines Substantially

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The valuation of the crypto market has dropped by $50 billion within a week, from $300 billion to $250 billion, led by the fall of Bitcoin. In the past 24 hours, the Bitcoin price fell from $7,250 to $6,950, extending its loss on August 4 and recording another 4 percent loss on the day. Volume is Tanking Last week, the volume of Bitcoin hovered around at $5.5 billion while the volume of the entire crypto market exceeded $18 billion. As of August 5, the volume of Bitcoin remains below $4.1…

What Has Caused the Bitcoin Price to Drop Below $7,000 in the Past 48 Hours?

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Over the past 48 hours, the Bitcoin price has dropped by more than eight percent from $7,500 to $6,890, despite having seen some of the most positive developments in the history of the crypto market. Bitcoin 1-day price chart, provided by Cryptowat.ch OTC Sell-Off The vast majority of short-term traders and casual investors utilize cryptocurrency exchanges such as Coinbase, Bitfinex, Binance, OKEx, Huobi, and UPbit to buy and sell major digital assets. Developments in the cryptocurrency sector pertaining to merchant adoption, institutionalization of cryptocurrencies, and technical breakthroughs can have a…