Day: October 10, 2018

Wait for Clear Bull Trend before Buying More Cryptocurrency

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Wall Street strategy firm Fundstrat Global Advisors is among the mainstream financial industry’s biggest long-term cryptocurrency bulls. However, the firm is advising clients to hold off on buying more bitcoin — at least for right now. Writing in a recent note to clients, Fundstrat technical strategist Robert Sluymer said that investors seeking to increase their bitcoin holdings should wait for the market to make a clear trend reversal. “Investors should remain patient and wait for evidence of an improvement in ‘trend’ before increasing exposure,” wrote Sluymer in an excerpt of…

Crypto Online Transactions | UTRUST Wants to be the Paypal of Crypto

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A Swedish company wants to make crypto online transactions as simple and as safe as using PayPal. But can such a feat be accomplished in such a volatile marketplace? Crypto Online Transactions The cryptocurrency market is still considered to be in its infancy, and many skeptics believe that, as a currency, it is hard to spend it day-to-day. Proof of this issue is that only 2% of online retailers accept crypto despite the increase in adoption for traders and businesses alike. Fear remains surrounding the volatile nature of a crypto’s price.…

Crypto Startup Pundi X Says That it Made the ‘First Blockchain Phone Call’

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Having launched a crypto-based Point-of-Sale (POS) device earlier this year with the goal of making cryptocurrency payments easier on the go, Pundi X now claims to have made the first blockchain phone call, according to a recent Medium post by the company co-founder Pitt Huang. The call was made on the startup’s newest device, called the XPhone, at the ongoing XBlockchain Summit two-day event at the Inaya Putri, Bali. The XPhone is a blockchain phone that doesn’t use any centralized mobile carrier to function. It works on the Function X…

Bitcoin Price Technical Analysis: BTC/USD Extends Consolidation Action

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The Bitcoin’s sideways action is gaining strength in what has so far been a quiet month. However, the digital currency, unlike its mainstream cousins, is displaying adequate volatility for day traders to enter and exit positions on attractive intraday profits. The focus remains firmly on the Securities and Exchange Commission’s take on the nine Bitcoin ETF applications it has received. Speculators believe the US regulator would eventually approve one of these drafts. The factor alone could be influencing traders to hold their aggressive short entries. Significant monies are not going…

BMW-Backed Blockchain Competition Offers Token Prizes for Auto Tech

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The Mobility Open Blockchain Initiative (MOBI) has launched a development “tournament” to explore how vehicles will communicate, co-operate and transact in the smart cities of the near-future. The 4-month MOBI Grand Challenge kicks off on October 12, with a public demonstration of winning technologies to be hosted by BMW Group in Munich, Germany on next February. The prizes come in the form of blockchain tokens, which will drive next-generation mobility and data sharing: Ocean Protocol, a blockchain enabled data exchange protocol, has committed $1 million worth of token prize; and…

Hacked Japanese Crypto Exchange Zaif Releases Financial Support Plan for Customer Assets

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Hacked Japanese cryptocurrency exchange Zaif has announced an official plan to provide financial support for affected customers’ assets, in an official notice posted today, October 10. As previously reported, the exchange suffered a security breach Sept. 14, resulting in total losses of cryptocurrencies worth 6.7 billion yen (around $59.7 million). At the time, Zaif operator Tech Bureau Inc. indicated it would be working with Fisco Digital Asset Group to draft a joint support plan. Today’s notice clarifies that the terms of the basic agreement between the two firms have been…

Gemini Taps Wall Street Exec to Attract Institutional Crypto Investors

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Cryptocurrency exchange Gemini has hired another Wall street executive as part of its bid to attract more institutional clients. Announced in a press release, the New York-licensed exchange said that Jeanine Hightower-Sellitto – previously chief operating officer at the Nasdaq-owned International Securities Exchange (ISE) – is joining the firm as managing director of operations on Wednesday. Her role will focus on “supervising Gemini’s institutional onboarding and expanding client services team,” the company said. Prior to the new appointment, Hightower-Sellitto spent 13 years at ISE – a major U.S. options trading…

Bitcoin Price Stuck Below Key Hurdle For Fourth Week Running

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Bitcoin is having a tough time scaling a key moving average hurdle that has kept the bulls in check for four weeks straight. The obstacle that is proving so hard to beat is the 10-week exponential moving average (EMA), which stalled a rally attempt from around $6,100 in mid-September. Since then, BTC has notably failed to produce a weekly close (Sunday’s close as per UTC) above the EMA, establishing it as a crucial level to beat for the bulls. At press time, BTC is trading at $6,580 on Bitfinex, having…

Blockchain Finance Startup Clearmatics Raises $12 Million in New Funding

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Blockchain finance firm Clearmatics Technologies has raised over $12 million in a Series A funding round led by venture capital firm Route 66 Ventures. Additional investment in the funding round came from private equity firm TNF Capital and XTX Ventures, the venture capital arm of electronic market-making firm XTX Markets. As part of the arrangement, Samir Khosla, a managing partner at TNF Capital, will join Clearmatics’ board of directors. Khosla said his company was pleased to deepen its commitment to Clearmatics and praised “its exceptional team under the leadership of Robert…

Bitcoin Price Watch: BTC/USD’s Support Turned Resistance

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Key Points Bitcoin price failed to trade higher towards $6,800 and declined recently against the US Dollar. Yesterday’s highlighted key bullish trend line was breached with support at $6,560 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair declined below the $6,500 support and tested the $6,440 support level. Bitcoin price trimmed most of its gains against the US Dollar. BTC/USD could recover, but the broken support at $6,560 might act as a resistance. Bitcoin Price Analysis Yesterday, we discussed that bitcoin price could climb…