Key Points Bitcoin cash price declined heavily and traded below the $300 and $280 levels against the US Dollar. Yesterday’s highlighted key bearish trend line is intact with resistance at $315 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently trading near the $250 level and it could decline further towards $220. Bitcoin cash price is under heavy selling pressure against the US Dollar. BCH/USD could continue to move down and it may test the $220 level in the near term. Bitcoin Cash…
Day: November 19, 2018
Cardano (ADA/USD) Print New Lows
It’s back to red territory for altcoins and with double digit losses, prices are trading below important support levels. Leading the pack is LTC/USD which is down 14 percent in the last day and ADA/USD trading below 6 cents as bears print new all time lows. At this pace it is likely that Monero will further shrink and convincing close below $70 as sellers aim to drive prices towards $60. Let’s have a look at these charts: EOS/USD Price Analysis There has been a BCH–EOS flip and Dan Larimer’s coin…
ICOs under Pressure, May Liquidate for Fiat
Latest Ethereum News It’s a selling frenzy out there. Although we cannot exactly pin-point the cause of this massive sell off, analysts and market pundits are linking this to the protracted hash wars between Bitcoin Cash ABC and SV. It has a contagion effect on Bitcoin since they share the same hashing algorithm and with the former backed by Bitmain, the network difficulty of BTC is drooping dragging prices and ETH with it. That is one theory. 1/ There is a big misconception that ICO companies have liquidated most of…
Bitcoin Cash Hash War Costing Miners Millions in Lost Revenue
Twitter Facebook LinkedIn According to BitMEX Research, going under the assumption that much of the hash rate on both sides of the Bitcoin Cash “hash war” has been leased since the fork, says that BCH miners have collectively lost as much as $6.1 million in gross revenue since last week’s blockchain split — but that one side, Bitcoin SV, can’t “keep this up forever.” Source: Twitter Something which has to be noted in any such discussion is that the profits gained from such mining — or loss thereof — would…
Hash Rate and Difficulty Drop, Bottoms Near
Latest Bitcoin News For the first time this year, Bitcoin prices did print below the $5,000 mark at CoinBase as reported and affirmed by statistics from CMC. While the losses were across the board, the marked drop in Bitcoin prices did shave the overall security and efficiency of the market. According to statistics, marking the drop of prices is the marked decrease of hash rate or network fire power and overall mining difficulty. This should be a concern for Bitcoin traders/investors. Though historical price movements hint that the bottoms is…
Study: ‘Compliance Trilemma’ Limits Potential of ICOs
Initial coin offerings (ICOs) are facing a regulatory “compliance trilemma,” according to a recent study funded the government of Canada and the University of British Columbia (UBC). To prepare the report, the research team investigated the ICO space over the course of six months, focusing primarily on North America, but also delving into some other countries and jurisdictions. The team conducted 45 qualitative interviews with individuals in the ICO space, including representatives of the finance, law, and science sectors of the field. Per the study, ICO issuers face a “trilemma,”…
Plunging Stock, Crypto Markets Leave Investors Searching for Answers
Twitter Facebook LinkedIn The Monday Massacre reverberated throughout equities markets today, leaving its mark not only on the bitcoin price — which dropped below $5,000 for the first time this year — but on tech stocks as well. Recent Bitcoin Price Drop Attracts Bearish Analysis To make matters worse, the bitcoin price has not yet bottomed out, according to technical analysts at Bloomberg Intelligence. The global financial media portal eyes a further 70 percent drop in the digital currency that could lead its price as low as $1,500. For reference,…
Blockchain Can Stem Corruption in Construction Industry
American software corporation Autodesk CEO Andrew Anagnost said that blockchain could fight corruption in the construction industry, finance and investment news outlet the Australian Financial Review reported Nov. 19. Founded in 1982, Autodesk manufactures software for the construction, architecture, media, and entertainment industries. In 2018, the company’s revenue was $2.06 billion. Speaking at the 2018 Autodesk University conference in Las Vegas, Anagnost reportedly said that blockchain technology could eliminate corruption in the construction industry, as well as deliver greater trust in the field. The Financial Review quotes Anagnost: “What is…
Catalan Government Considers Blockchain for Public E-Voting System
The head of the Catalan government‘s citizen participation council states that the authority is considering blockchain for the community’s voting system, Spanish daily newspaper La Vanguardia reports Monday, Nov. 19. Earlier in October, the Generalitat of Catalonia approved a preliminary bill to establish an e-voting system for residents abroad in major elections and other voting processes in the autonomous community. Recently, Ismael Peña-López, director of Citizen Participation of the Government of Catalonia, revealed that the government hopes to introduce an external e-voting system by the year 2020, as well as…
Bitcoin Price Dives Below $5,000 amid Choppy Market
Twitter Facebook LinkedIn The bitcoin price kicked off this week on a depressive note, extending its current bearish bias to another low level. The BTC/USD index fell from 5502-fiat to 4886-fiat on Monday, recording more than 11 percent in losses. The price action bled through crucial support levels that had a history of reversing bearish trends. It confirmed how investors are looking to take a break from cryptos until its political scenario improves. The recent Bitcoin Cash hard fork has set the market on fire, with big mining pools jockeying…