Bitcoin Cash Price Analysis: BCH/USD Remains Buy on Dips

Key Points Bitcoin cash price climbed higher recently and broke the $550 resistance against the US Dollar. There is a major bullish trend line formed with support at $522 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair could correct further lower, but it is likely to find bids near $520 in the near term. Bitcoin cash price rallied recently above $500 against the US Dollar. BCH/USD is now in an uptrend and dips remain supported on the downside. Bitcoin Cash Price Analysis In the…

PBoC Looks to Tackle Airdrop Tokens Market in New Clampdown

The People’s Bank of China (PBoC), the country’s central bank, is looking to clamp down on airdrops – free distributions of crypto tokens. In its financial stability report for 2018, released on Friday, the PBoC said that “disguised” initial coin offerings (ICOs) including airdrops continue to grow in number, despite its previous efforts at cracking down on sales of tokens. For instance, it said, some crypto firms are moving their projects overseas and using agents to invest on behalf of investors from China. Other projects are not issuing tokens in public…

LTC/USD Top Performer as XLM Inch Higher

The altcoin market is back to green with LTC/USD adding six percent in the last 24 hours. At the same time, Stellar trade volumes are quite high as the market remain expectant of a probable listing at CoinBase after BAT expected support. All in all, we expect gains to continue throughout this week. Let’s have a look at these charts: EOS Price Analysis It seems like the events around Bitcoin Cash software upgrade is lifting prices across the board. From the charts, EOS is up roughly three percent in the…

Fate of Nine Bitcoin ETFs to Be Decided After Today

Encouragingly, the market is bullish and Bitcoin is up printing a three-bar reversal pattern as participants reject lower lows. We expect the recovery to continue this week as the SEC is set to announce the fate of nine Bitcoin ETF as the commenting period concludes today. Should these proposals be compliant with SEC stringent requirements then BTC/USD price could erupt above $7,200 closing the year on a high. Latest Bitcoin News Endorsement by the US SEC is always a boost for any crypto asset. Any unfavorable assessment or comment in…

IBM Patents Blockchain System to Create ‘Trust’ Between AR Game Players, Real World Locations

Major global tech giant IBM has applied for another blockchain patent, this time aiming to deter augmented reality (AR) game players from intruding on undesirable locations. The tech firm’s latest patent document was released by the U.S. Patent and Trademark Office (USPTO) on Thursday, Nov. 1. In the patent, IBM, also known as Big Blue, describes a blockchain-based method and system of interactions between a AR-running mobile device and locational database in order to set and maintain safe boundaries between AR objects and real-world physical locations. According to the document,…

Bank of America Has the Most Blockchain Patents, But Is It Actually Going to Use Them?

On October 30, Bank of America (BofA) added yet another cryptocurrency-related patent to its collection of more than 50 applications filed within the same field. The second-largest bank in the US has been leading in the informal blockchain patent race, sidestepping such players as IBM and Alibaba. However, that does not mean that BofA is being bullish — the company has been publicly criticizing cryptocurrencies, relying on patents mostly to appear progressive in the fintech community. Brief history of BofA’s filing crypto-related patents The bank filed its first blockchain-related patent…

Dash Surges 13% as Tether Boosts Volume, Payment Service Launched

Twitter Facebook LinkedIn Dash on Sunday surged as much as 13 percent against the US Dollar as supposed stablecoin tether (USDT) lost over 4 percent of its value. The DASH/USD pair closed yesterday at 155.90-fiat while continuing to its slow upside momentum. Today’s Asian session witnessed the pair erasing its recent gains and forming intraday lows towards 152.78-fiat. The green candles began appearing after that, constructing a smooth uptrend in which traders entered longs on higher high formations. It went on until the DASH/USD pair established an intraday high at…

Expert Says EOS isn’t a Blockchain — Just a Distributed Database

Twitter Facebook LinkedIn Blockchain testing and research company Whiteblock Inc. has released a damning verdict on EOS, describing it as a “distributed homogeneous database” masquerading as a blockchain. In a report titled “EOS: An Architectural, Performance and Economic Analysis,” the company dissects several aspects of the EOS protocol and comes to the conclusion that it suffers from a serious security deficiency as well as network performance that is significantly lower than what was claimed. Extraordinary Findings According to the report compiled by Whiteblock’s research team made up of Brent Xu,…

Stablecoin? USD-Backed Crypto Token Tether Falls 5% [Again]

Twitter Facebook LinkedIn Tether, or USDT, is supposed to remain “tethered” to the US Dollar, as its name implies. That’s its whole purpose as a token: it exists on exchanges as a way for traders get their profits to safety, in a sense, so they have some idea of the real fiat value of their portfolio. It was originally created by Brock Pierce, former actor and current crypto entrepreneur, and some other venture capitalists and first launched on major fiat-crypto exchange Bitfinex. At present, it is used on nearly every…

Why Blockchains Struggle to Gain Traction in Enterprises

Paul Brody is EY’s global innovation leader for blockchain. The views expressed are his own. The Y2K program (does anyone remember that?) came about because software developers assumed, in the early days of computing, that newer, better enterprise systems would come along very soon and that their efficient two-digit date systems would be replaced long before the year 2000 came along. There were very few CIOs in those days, and many of them would have carefully explained to those efficient software developers that if something isn’t broken, don’t fix it,…