Day: August 25, 2018

Ethereum Price Weekly Analysis: ETH/USD’s Struggle to Rise Continues

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Key Highlights ETH price attempted a recovery above the $275.00 level, but it failed to gain traction against the US Dollar. There is a major bearish trend line formed with resistance at $280 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair must accelerate above the $282 and $285 levels to recover further in the near term. Ethereum price is struggling to gain traction versus the US Dollar and Bitcoin. ETH/USD could climb higher if buyers gain control above the $285 level. Ethereum Price Resistance There was…

Crypto Isn’t Just Money – It’s a Defense Against Discrimination

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Sonya Mann works in communications and marketing at the Zcash Foundation, a financial privacy non-profit. She is a former technology journalist. For Americans, it can be easy to discount the social relevance of censorship-resistant digital assets like bitcoin. Unlike people living under authoritarian regimes, we are free to enter into commercial transactions how and when we like, right? Well, not always. Many Americans find themselves unable to access the financial system for political reasons. It’s a frustrating experience that cuts across ideological lines. Common targets of financial exclusion include sex…

State-Backed Crypto Draft is Ready, Central Bank to Soon Announce Stance on Crypto

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Iran’s National Cyberspace Center has revealed that the draft of the state-backed cryptocurrency project is ready, local news outlet Financial Tribune reports August 25. According to the article, the national digital currency project was developed on instructions from President of Iran Hassan Rouhani. Saeed Mahdiyoun, the deputy director in charge of drafting regulations for Iran’s Supreme Cyberspace Council, has reportedly revealed to local news agency IBENA that the idea of introducing a national cryptocurrency is being actively pursued by Iran’s cyberspace authority. Mahdiyoun also stated that the state authorities will…

More Than $500 Mln Tether Issued in August Is Not Impacting Crypto Markets

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New issuances of stablecoin Tether (USDT) are not currently affecting the prices of either major cryptocurrencies or smaller altcoins, Bloomberg reports August 24. In the article, Bloomberg noted that the allegations that Tether has been used to manipulate or stabilize the price of Bitcoin (BTC) — previously put forward in a paper from the University of Texas — are not holding true for the crypto markets this August. The paper, published in mid-June, had claimed that Bitcoin reached its all-time high of $20,000 due to price manipulation involving both Tether…

Chinese Crypto Bans on WeChat Accounts, Events, and Exchanges: What Happened and Why

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This week, the government of China has cracked down on crypto-related WeChat accounts, blockchain events and digital asset exchanges, solidifying its negative stance on cryptocurrency trading and the Initial Coin Offering (ICO) market. WeChat ban and PBoC’s warning against ICOs On Aug. 22, Cointelegraph reported that WeChat, China’s biggest messaging app that has over 1 billion active monthly users, banned the accounts of cryptocurrency investors, users and businesses. At the time, Lanjinger, a local financial media outlet, reported that the accounts of Deepchain, Huobi News, Node Capital-backed Jinse and CoinDaily were suspended or taken down permanently,…

Why Some Bulls Expect Bitcoin to Fall Below $5,000 Prior to Big Rally

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Today, Fundstrat’s Tom Lee has reaffirmed his $30,000 Bitcoin price target by December. But, other permabulls are not as optimistic as Lee about the short-term trend of Bitcoin. In May, BitMEX CEO Arthur Hayes stated that he would like to see the BTC price fall to the $5,000 region before recovering and initiating a 2017-esqe rally to ensure that the market does not expose itself to the creation of a minor bubble. This week, ShapeShift CEO Erik Voorhees and cryptocurrency investor Anthony Pompliano, better known as Pomp, echoed the sentiment…

SEC to Review Rejected Bitcoin ETFs, Why They Will Remain Declined

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This week, the US Securities and Exchange Commission (SEC) has said it will review nine Bitcoin exchange-traded funds (ETFs) it disapproved on August 24. The letter sent to NYSE Group senior counsel David De Gregorio by SEC secretary Brent Fields read: “This letter is to notify you that, pursuant to Rule 43 I of the Commission’s Rules of Practice, 17 CFR 20 I .43 1, the Commission will review the delegated action. In accordance with Rule 431 (e), the August 22 order is stayed until the Commission orders otherwise.” Community…

Markets See Wave of Green, BTC Pushing $6,750, ETH At $280

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Saturday, August 25: crypto markets are showing bullish sign of a persuasive recovery. Virtually all of the top 100 cryptocurrencies are in the green today, with solid growth of between 1 and 4 percent among the top 10 largest coins by market cap, as Coin360 data shows. Market visualization from Coin360 Bitcoin (BTC) is trading at around $6,696 at press time, up around 2.5 percent on the day, according to Cointelegraph’s Bitcoin price index. The top coin has now seen several days of strong recovery since its steep plunge August…

SEC U-Turn on ETF Rejection — A Balancing Act for Adoption?

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It’s been an interesting couple of days for a number of exchanges which were hoping to get the green light to launch various Bitcoin exchange-traded funds (ETFs). On Aug. 22, the U.S. Securities and Exchange Commission (SEC) released its verdict on nine separate ETFs submitted by three applicants, ProShares, Direxion and GraniteShares. The move denied the trio permission to move ahead with plans to launch their respective products. ProShares was looking to launch a pair of Bitcoin ETFs, Direxion had sought approval for five products while GraniteShares hoped to launch…

Buy and sell immediately and higher daily limits – The Coinbase Blog

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Increasing daily limits to $25,000 and enabling immediate trading Today we’re announcing immediate trading and significantly higher default limits for Coinbase accounts. Starting today, we are rolling out the ability to trade cryptocurrency immediately after a purchase — no more waiting five days for funds to settle. Most customers will also see their trading limits increased to $25,000 per day. This functionality will be available for US customers over the next few weeks. Empowering customers to trade when they want Millions of people turn to Coinbase to get started buying and selling…