Day: August 22, 2018

Bitcoin (BTC) Price Watch: Testing Uptrend Channel Support

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Bitcoin Price Key Highlights Bitcoin price sold off after the SEC rejection of ETF applications but is finding support at the channel. Price is still trading inside an ascending channel and is currently testing the very bottom. A bounce could take it up to the next upside targets marked by the Fibonacci extension tool. Bitcoin price is pulling back after its recent surge and is deciding whether to make a bounce or a break from the channel support. Technical Indicators Signals The 100 SMA is still above the longer-term 200…

Japan’s Financial Regulator Wants Crypto Industry to ‘Grow Under Appropriate Regulation’

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The commissioner of Japan’s financial regulator the Financial Services Agency (FSA) said that the agency wants the cryptocurrency industry to “grow under appropriate regulation,” in an interview with Reuters August 22. Toshihide Endo, commissioner of Japan’s FSA, told Reuters he sees the agency’s goal for developing the crypto industry as finding a “balance” between consumer protection and technological innovation. The commissioner added: “We have no intention to curb [the crypto industry] excessively. We would like to see it grow under appropriate regulation.” In July, the FSA had been considering changing…

Bitcoin Cash (BCH) Price Technical Analysis: Sellers Reversing 2017 Gains

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On a weekly basis, Bitcoin Cash is stable shedding less than one percent all due to higher highs attempts by end of last week. Though there were expectations of a price follow through, it appears as if sellers are having the upper hand. Bears are likely to reverse those gains and edge towards $300 regardless of the technical developments and scheduled hard fork of Nov 15. From the News 97 days after forking in May 15, Bitcoin ABC, the development team behind Bitcoin Cash “peer to peer electronic payment system”…

SEC Rejects 9 Bitcoin ETF Applications from ProShares, Direxion and GraniteShares

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The U.S. Securities and Exchange Commission (SEC) has rejected a total of nine applications to list and trade various Bitcoin (BTC) exchange-traded funds (ETFs) from three different applicants, according to a three separate orders published by the SEC today, August 22. The disapprovals come one day ahead of the anticipated deadline, August 23, stipulated for a pair of BTC ETFs that had been submitted by ProShares in conjunction with the New York Stock Exchange (NYSE) ETF exchange NYSE Arca. The SEC has now rejected a further seven proposed ETFs alongside…

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

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Days after the Chinese CCID said EOS top the charts on matters technology, applicability and innovation, the Chinese government went ahead and outlawed cryptocurrencies and related business. This caught the market off guard and though there are no wild price swings, we might see lower lows today as investors try to digest on how this would affect their coin holdings. As that happens, EOS, Litecoin, Stellar Lumens and IOTA continue to clip last week’s bullish attempts. Simply put, all coins in the top 10 are in the negative territory reversing…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, August 22

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. On August 21, at 01:00 AM UTC time, Bitcoin prices surged, breaking out of the overhead resistance at $6,617.5. Within 20 minutes, Bitcoin spiked from $6,459.5 to $6,827.5, topping out at $6,888.32, an hour later. The upward move coincided with the scheduled maintenance…

Today’s Bitcoin Price Pump Was Fueled by $100 Million in New Tethers

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Early this morning, the bitcoin price leaped nearly $300 in just one minute, spurring a rally that carried the flagship cryptocurrency from $6,466 to $6,899 during a frenzied half-hour of trading. Analyzing Wednesday’s Bitcoin Price Pump Unfortunately, BTC proved unable to sustain that level, and after tapering off throughout the morning and early afternoon, the bitcoin price made a severe downward pivot that reversed the effects of the early morning rally. BTC/USD | Bitfinex As CCN reported, the pump occurred almost at the exact moment that BitMEX, the largest leveraged…

Newsflash: Bitcoin Price – Bullish Territory Before a Sharp Return Near $6,400

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At last, Bitcoin price stopped taking strikes from its crucial resistance level near $6,500 and went for a home run, instead. Then, the referee called it a foul. In simple words, Bitcoin crashed towards the same consolidation range that was holding it before the upside breakout. The BTC/USD on Wednesday attempted a strong upside breakout, rising as much as 7.8 percent and coming out of an overlong consolidation phase. The pair started began the day on a bearish note and slipped towards 6440-fiat. It, however, began to express a massive bullish sentiment…

Crypto Markets See Green Amid Talk of ‘Forced Short Squeeze’ on BitMEX

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August 22: The crypto markets are seeing a second flush of green, with virtually all of the major cryptocurrencies seeing solid growth on the day, as Coin360 data shows. Positive price momentum is a welcome respite from protracted bearish sentiment, although multiple crypto commentators are attributing the upswing to yesterday’s announcement by leveraged crypto trading platform BitMEX that it would be halting trading for scheduled maintenance. The window has allegedly been exploited by bulls to force a spike, especially within the context of a forthcoming August 23 SEC decision on…

Manipulation in the Bitcoin Market?

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As cryptocurrency exchange BitMEX initiated its scheduled maintenance on August 22, the Bitcoin price surged by 4 percent, during a period in which crypto traders could no longer short the dominant crypto. Analysts have stated that the strong rally of Bitcoin in the two-hour period during which BitMEX was temporarily down was not a coincidence. Was Bitcoin Market Manipulated? BitMEX is arguably the most popular margin trading platform for Bitcoin and Ethereum traders alongside Bitfinex. According to large FX market maker and crypto trader Alex Kruger, BitMEX has a 40…