Day: September 4, 2018

Bitcoin (BTC) Price Watch: Will Resistance Hold or Fold?

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Bitcoin Price Key Highlights Bitcoin price has been on a steady climb recently and is closing in on a nearby resistance level. Price is still trading inside a falling wedge pattern on its daily chart and is about to test resistance around $7,500. Technical indicators suggest further bearish pressure, but there are some signs of bullish momentum. Bitcoin price is gearing up to test the top of its daily falling wedge, and technical indicators suggest that bears could return here. Technical Indicators Signals The 100 SMA is below the longer-term…

Crypto Mining Accepted as an Industry by Iranian Authorities

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The Secretary of Iran‘s Supreme Cyberspace Council revealed that various ministries of the country’s government have accepted crypto mining as an industry, local news agency IBENA reports September 4. According to the report, the Cyberspace Council’s secretary Abolhassan Firoozabadi stressed that the mining of cryptocurrencies such as Bitcoin (BTC) has been approved as an industry by major government authorities. However, official legislation forming a legal framework for the industry has yet to be introduced in the country. Firoozabadi said that crypto mining has been accepted as an industry by Iran’s…

Philippines Regulators Prepare to Publish Crypto Trading Rules

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The Philippines Securities and Exchange Commission (SEC) is planning to release new trading rules for cryptocurrency exchanges in the coming days, according to local media. The Manila Times reports that SEC Commissioner Ephyro Luis Amatong told journalists that the rules are set to be published “by the end of next week,” though an exact date hasn’t been specified. Regulators in the country have been mulling various ways of regulating the cryptocurrency space for the better part of two years, a process that has seen officials putting together a framework for initial coin…

XRP Prices Lags as Technicals and Fundamentals Diverge

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Brad Garlinghouse remains a dedicated Ripple and XRP ambassador. Recently, he admitted that citizens are far from using XRP for buying coffee or settling normal bills. That’s why he considers XRP a “digital asset” which the company—as acknowledged by Mitsubishi UFJ Financial Group—is using to build a convenient, secure and cheap remittance solution for companies as well as individuals. From the News Mitsubishi UFJ Financial Group, a Tokyo based bank and the sixth largest bank in the world with operations in more than 50 countries is the latest financial institution…

‘Exchange Without Accounts’ ShapeShift to Gradually Introduce Membership Program

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Cryptocurrency exchange ShapeShift has introduced a new rewards program, which will eventually become a mandatory membership model for the exchange’s users, according to an announcement published September 4. Erik Voorhees, founder and CEO of ShapeSHift, stated that today the exchange released a loyalty program entitled ShapeShift Membership. While ShapeShift is known as “the exchange without accounts,” the newly developed account-based membership model will be integrated in order to “reduce friction and protect customers.” The new program represents the “convergence” of three different “themes” the exchange has been considering; providing a…

Is it Possible for China to Pursue Blockchain Innovation With Crypto Ban?

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Over the past two weeks, the government of China has effectively banned everything related to crypto trading and investment including news sites, social media accounts, events, and exchanges. Subsequent to putting an end to virtually all communication and investment channels related to the cryptocurrency market, China has said that it will continue to accelerate blockchain development, doubling down on its $3 billion investment in the technology since the second quarter of 2018. Centralized Blockchain Networks Every public blockchain network is equipped with its own native cryptocurrency because every individual on…

Naples’ Mayor Plans to Launch Autonomous Crypto in Push for Greater Southern Autonomy

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Naples’ mayor, Luigi de Magistris, has posted an impassioned pledge to launch an autonomous municipal cryptocurrency that, he says, would unshackle the city from “anti-southern discrimination” and “unfair” debt, on his Facebook public profile September 2. De Magistris argued for the new currency as part of a threefold plan of action that would reclaim political and fiscal autonomy for Naples — the capital of Italy’s southern Campania region. While yesterday’s rhetoric-laden post did not explicitly outline details, the mayor’s previously discussed plans to launch a municipal cryptocurrency tied to the…

Bitcoin Seals Further Gains in a Mostly Green Market as Ethereum Fails to Break $300

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Tuesday, September 4: crypto markets are largely green today, with Bitcoin (BTC) inching upwards yet further, and several large-market-cap alts seeing solid gains, as Coin360 data shows. Market visualization from Coin360 Bitcoin (BTC) is trading at around $7,374 at press time, up over 1 percent on the day as it continues boost its newly won gains, according to Cointelegraph’s Bitcoin Price Index. Having reclaimed the $7,000 price point August 31, Bitcoin has seen a solid upwards trend and is now pushing $7,400. The top coin is trading an impressive $550…

Australian Securities Exchange Delays Planned Switch to Blockchain by Six Months

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The Australian Securities Exchange (ASX) has announced that it will delay its transition to  use blockchain for equity transactions by six months, the Sydney Morning Herald reports September 4. As Cointelegraph has previously reported, the ASX has been working to implement blockchain as of December 2017 to replace its current system for processing equity transactions. According to the Sydney Morning Herald, the decision to delay the move comes as the exchange plans to devote more time to user development and testing. The launch date for the switchover has now been…

Litecoin, EOS, Stellar Lumens, Tron, Cardano Price Analysis

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After last week’s gains, buyers are slowing down and from EOS, ADA and XLM charts, the consolidation inside Aug 28 or Sep 1 high low should cement our forecast today if not through this week. Unless otherwise, our stand is neutral but we retain a bullish leaning. Our previous trade assertions would be more solid more so should there be blasts above immediate resistance levels. Let’s have a look at these charts: EOS Price Analysis From the News Ledger Nano S supports EOS Happy #CryptoTuesday! Ledger now supports Hycon, Waves,…