Day: October 11, 2018

Ethereum (ETH) Price Watch: Next Downside Targets

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Ethereum Price Key Highlights Ethereum broke below its latest consolidation pattern, indicating that losses are in the cards. Price is still trading inside a descending channel on the daily chart and looks ready for a test of support. But first, the mid-channel area of interest could attract some buyers since it’s close to the long-term lows at $150. Ethereum price could be in for more declines as it bounced off the descending channel resistance and is making its way back down. Technical Indicators Signals The 100 SMA is below the…

Bitcoin (BTC) Price Watch: Just a Few Support Zones Left

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Bitcoin Price Key Highlights Bitcoin price also broke below the longer-term triangle support and is aiming lower. This follows a short-term triangle consolidation break, signaling that further losses are underway. Price is now closing in on a couple of support areas left before more sellers step on the gas. Bitcoin price has broken below one triangle pattern after another and has only a few support zones left for bulls to defend. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to indicate that the path of least…

EOS, Litecoin, Stellar Register Double Digit Losses

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After yesterday’s deep losses, EOS, Litecoin, Cardano and Stellar lumens are back to previous key support lines. Odds are we might see bear trend resumptions as sellers step up, crashing important support lines. Because of this, we recommend sells for Monero and in ES. However we suggest patience for Litecoin and XLM until after there are losses below supports at $50 and 18 cents respectively. Let’s have a look at these charts: EOS Price Analysis CypherGlass, a block producer in the EOS network, now enables users to create EOS accounts…

Coinbase Launches First ERC-20 Token on Platform

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Leading U.S. cryptocurrency exchange Coinbase has started listing 0x (ZRX) token, according to an announcement published Oct. 11. The move marks the first time Coinbase has added support for an ERC-20 token. ERC-20 tokens are tokens developed and used solely on the Ethereum (ETH) platform, where ERC stands for Ethereum Request for Comment, and 20 is the number assigned to this request. ERC-20 makes the creation of new tokens extremely easy, which is why ETH became popular with crowdfunding companies working on Initial Coin Offerings (ICOs). Per the announcement, Coinbase…

SEC Expands Crackdown on ICOs, Regulatory Ambiguity Remains

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The U.S. Securities and Exchange Commission (SEC) has expanded its crackdown on Initial Coin Offerings (ICOs), putting “hundreds” of projects at risk, according to a recent joint investigation by Yahoo Finance and Decrypt Media published, Oct. 10. The authors of the report stressed that hundreds of crypto and blockchain startups that conducted token sales have eventually found that they had violated securities laws despite their endeavors to comply with regulations. In response to SEC pressure, dozens of firms have reportedly “quietly agreed” to refund investors’ money and pay fines, rather…

Humans to Become Nearly Redundant in Crypto Trading

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Call it counterintuitive, but blockchain could be considered less transparent now than the stock market. How so? Blockchains are apparently open, and anyone can see which token went where, after all. Well, yes and no. Blockchain is a forest, and a forest is the best place in the world to hide a leaf. We know (or suspect) that many tokens have their prices tweaked. Until now, the industry still lacks an instrument to give a bird’s-eye view of the blockchain. A startup called Coinscious is quietly building a remedy for…

Crypto Regulations for UK Could Take Two Years, Says Legal Expert

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Jeff Kaufmann, Legal Director at British law firm Reynolds Porter Chamberlain (RPC), said that the introduction of cryptocurrency market regulations in the U.K. could take two years, according to an RPC press release published Oct. 11. RPC is a London-based corporate and insurance law firm with offices in Bristol, Singapore, and Hong Kong, and staff amounting to 720 people, including over 80 partners and 330 other lawyers. Since 2014 the firm has been named Law Firm of the Year three times. Kaufmann said that the implementation of crypto market regulations…

China’s Central Bank Seeks Digital Currency Specialists

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The Chinese central bank, the People’s Bank of China (PBoC), has opened four positions for crypto-related professionals, according to a document published Wednesday, Oct. 10 on the bank’s website. Per the paper, PBoC is seeking two engineers at their Digital Money Institute with experience in blockchain and cryptography, security, and chip design. The bank wants the engineers to develop a secure big data platform and a chip processor that would allow crypto transactions. The engineers will be responsible for digital currency related software systems, encryption technology and security models, as…

Bitcoin Needs Blessing From SEC to Rally, Market Desperate

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Naeem Aslam, chief market analyst at Think Markets UK, has stated that Bitcoin needs a blessing from the US Securities and Exchange Commission (SEC) to revitalize and experience a recovery in price. According to Aslam, the approval of the first Bitcoin exchange-traded fund (ETF), which would allow accredited investors and individual traders in US markets to invest in cryptocurrencies, could be a major factor to revitalize the cryptocurrency market. “Bitcoin needs some sort of a blessing and only that can revitalize the rally for the currency. I think that the…

US SEC Halts Fraudulent ICO That Claimed to Possess Regulator’s Approval

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The U.S. Securities and Exchange Commission (SEC) has halted a planned Initial Coin Offering (ICO) that falsely claimed have SEC approval, the agency reported in an official press release Thursday, Oct. 11. The SEC suspended the ICO project with an emergency court order, and also halted pre-ICO sales by the company Blockvest LLC, and its founder Reginald Buddy Ringgold III. The complaint by the SEC alleges that Blockvest falsely claimed that their ICO and affiliates had acquired approval from major financial regulators, including the SEC itself. Blockvest and Ringgold —…