Day: August 26, 2018

Bitcoin (BTC) Price Watch: Look Out for a Wedge Breakout

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Bitcoin Price Key Highlights Bitcoin price is consolidating inside a rising wedge and is nearing the peak of the pattern. Price could break out of the formation anytime soon, signaling which direction a longer-term move might go. Technical indicators are giving mixed signals in terms of bullish or bearish presence. Bitcoin price is consolidating inside a rising wedge formation as it awaits directional clues for a longer-term move. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to…

Sentiment Shift as Shorts Exit Positions

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After all, Bitcoin is on the verge of a new revival that may bolster prices and hopefully propel them above week ending Aug 12 highs-the all important level $7,200. Technically it’s a tall order gauging by the way Bitcoin buyers are struggling to build momentum that would thrust and sustain them above $7,000—a conservative buy trigger line. On the fundamental lane, sentiment is finally shifting. Sooner-and it’s already in motion, more shorts would exit as buyers enter the market padding the foundation for the next wave of longs. From the…

SEC May Make U-Turn on BTC ETF Rejections, While India and China Crack Down on Crypto Scammers

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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 SEC Rejects—Then Will Review—9 Bitcoin ETF Application 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 ProShares, Direxion, and GraniteShares. However, the SEC then noted that…

EOS, Litecoin, Stellar Lumens, Monero, Cardano (ADA) Technical Analysis

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On a second look, there is a low level altcoin loss reversal in the making. Prices are in the red but with a five percent gain in Bitcoin over the same period, we might see higher highs in EOS, Litecoin, Monero, Stellar and Cardano (ADA) today if not for the rest of the week. The reason is simple: Bitcoin leads the altcoin market. Since most are pegged to it, any gain or loss in Bitcoin would draw altcoins in that direction regardless of coin specific fundamentals in question. Let’s have…

7 Investors Back World’s First Blockchain Bond, Demand From Institutions

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The Commonwealth Bank of Australia (CBA) and the World Bank launched the first blockchain bond in the global finance sector this month. Already, institutional investors are showing increasing interest. On August 10, CCN reported that World Bank selected CBA, the biggest bank in Australia, to issue the world’s first blockchain bond based on the Ethereum blockchain network. Bond-I, the blockchain-based debt instrument, implemented Microsoft’s blockchain cloud computing platform Azure that is compatible with the Ethereum network to settle orders, after Microsoft confirmed that Ethereum is able to securely facilitate investments…

Crypto Markets See Few Gains as Most of Top Coins Are Slumping

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Sunday, August 26: after a short recovery yesterday, crypto markets have again declined somewhat, with only three out of the top 10 cryptocurrencies by market cap seeing green today. Market visualization from Coin360 Bitcoin (BTC) is one of the fortunate ones, up less than one percent on the day, trading at $6,740 as of press time. The cryptocurrency also has managed to hold on to its weekly gains, which comprise 2 percent. Having peaked at $6,778 yesterday, Bitcoin dropped to as low as $6,587 earlier today. Bitcoin 24-hour price chart.…

‘Correlation’ Between BTC and Emerging Markets Is Sign of Upcoming Trend Reversal

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Fundstrat’s Bitcoin (BTC) analyst Tom Lee has claimed that the cryptocurrency “could end the year explosively higher,” citing a correlation between it and emerging markets. Lee has made his new prediction in an interview during CNBC’s “Trading Nation” show August 25. The Head of Research at Fundstrat Global Advisors has said that he “still think[s] it’s possible” that Bitcoin’s price could surge to as high as $25,000 this year. Lee has based this assumption on the relationship between the price of BTC and BlackRock’s iShares MSCI Emerging Markets exchange-traded fund…

Tom Lee is Standing by His $20,000+ End-of-Year Target

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Bitcoin bull Tom Lee, co-founder of Fundstrat Global Advisors, is sticking to his forecast of a bitcoin price in the $20,000 range by year’s end, he told CNBC’s “Fast Money” on Friday. Lee said he is “trying to change the calendar year” with respect to his prediction, but remains bullish about it. Hedge Funds Play A Bigger Role Lee said hedge funds are playing a bigger role in the bitcoin market, which he thinks can have an impact on its price. “I do think in 2018, trading has shifted,” Lee…

Bitcoin Price Intraday Analysis: BTCUSD Closing Towards $7,000

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Bitcoin price today consolidated sideways within a strict range, never indicating a breakout optimism. At the beginning of the Asian trading session, the BTC/USD has slumped by 3.5 percent only to settle the mid-session inside an oversold area. The pair attempted a weak bullish recovery as the day matured, and rose as much as 2.8 percent by the beginning of the European session. We are now looking at a low volume market, showing no interim bias as the US session begins. In medium-term, we are in a bullish zone, targetting…

The Bahamas Establishes a Blockchain Credentials System in Latin America/Caribbean First

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Bahamian job seekers will now be able to share and verify their educational certificates from anywhere, thus reducing bureaucracy and enhancing convenience. This is after the Commonwealth of the Bahamas became the first country in Latin America and the Caribbean region to implement a blockchain-based nation-wide credentialing system known as Bahamas Blockcerts, according to The Nassau Guardian. Through these nationally-accredited digital certificates, the government of the Caribbean country aims to enhance how national educational qualifications including certificates, academic degrees and diplomas are created, issued, viewed and verified. #TheBahamas has issued…