Day: November 21, 2018

Ethereum Price Analysis: ETH/USD Signaling Positive Bias Above $130

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Key Highlights ETH price slowly recovered and moved above the $130 and $132 resistances against the US Dollar. Yesterday’s major bearish trend line was breached with resistance at $132 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to climb towards the $151 resistance level in the near term. Ethereum price is showing positive signs against the US Dollar and bitcoin. ETH/USD is likely to correct further above $140 towards the $150 level. Ethereum Price Analysis After forming a decent support base around the $122…

University of Tokyo Adds Blockchain Class After $800k Gift from Ethereum

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Twitter Facebook LinkedIn The University of Tokyo began offering a blockchain course at its graduate engineering school, thanks to an $800,000 donation from a consortium that includes the Ethereum Foundation and Japanese banking juggernaut Sumitomo Mitsui. The class — called the “Blockсhain Innovation Donation Course” — was rolled out on November 1 and will run through October 2021, according to a statement by Sumitomo Mitsui. Other corporate donors included Good Luck Three, JSS Corp., Zipper Corp., Hotlink Co., and Money Forward Inc. Goal is to Cultivate Blockchain Entrepreneurs The purpose of…

XLM/USD Resilient As Investors Expect a CoinBase Listing

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Losses are deep and as price action trend below key support levels, altcoin recovery is a tall order. The only coin that could register gains assuming investors’ expectations are met is XLM. From candlestick arrangements, there seem to be underlying support because XLM/USD sellers are yet to drive prices below 15 cents triggering further draw downs. As this print, EOS/USD and XMR/USD pairs are trading below main supports. We expect to see more declines to $1.5 and $50 respectively. Let’s have a look at these charts: EOS/USD Price Analysis Even…

Bitcoin Cash Wars Force Giga Watts to File for Bankruptcy

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Earlier, Jihan Wu had warned that re-deploying hash rate from Bitcoin network to support Bitcoin Cash ABC could lead to a massive sell off across the market more so in BTC. We are already seeing that print and as BCH/USD prices drop days after forking, Giga Watt is unable to pay creditors. Latest Bitcoin Cash News Not only are payment processors, chip-set manufacturers and coin hodlers bleeding but the situation is so dire, Giga Watt is has cash flow problems. It has already filed for bankruptcy under Chapter 11 Bankruptcy…

Crypto Venture Capital Exec Compares Bitcoin to Post Dot-Com Bubble Amazon

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Lou Kerner, a partner at venture capital firm CryptoOracle, compared the current slump in crypto prices to the dot-com burst in the early 2000s in an interview with CNBC Nov. 21. On CNBC’s “Worldwide Exchange” show, Kern stated that strong coins should be viewed like the big companies that came out of the dot-com bubble, using the example of e-commerce giant Amazon: “If you go back to the internet bubble, which is what a lot of us in crypto look at for direction, Amazon, arguably one of the greatest companies…

Bitcoin Payments Drop while Lightning Network Capacity Increase

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Though there was a bit of stability yesterday, the decline would continue. First we expect BTC/USD to pull back ideally towards the $5,000–$5,500 before bear trend resumes. As we have seen, price drops are affecting chip-set manufacturers, investors and crypto payment processors as enthusiast refrain from spending BTC. Latest Bitcoin News That the market is plunging is true. But while the bear plunger threatens to drive prices to new lows, the side effect has been disastrous not only for ordinary hodlers but for businesses that help boost the network’s infrastructure…

BBVA and Santander Join EU Joint Blockchain Platform Set to Launch in 2019

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Banking groups BBVA and Banco Santander have joined the E.U. International Association for Trusted Blockchain Applications (IATBA), Spanish economic newspaper Expansion writes Nov. 20. The representatives of two Spanish banking groups were invited to an E.U. blockchain roundtable held in Brussels by Mariya Gabriel, the commissioner for Digital Economy and Society, and Roberto Viola, director of the E.U. Department of Communications Networks, Content and Technology. According to a BBVA press release, during the meeting  E.U. officials revealed that the IATBA will launch in the first financial quarter of 2019. The…

Bakkt, Fidelity Could Solve Bitcoin’s Liquidity Issue

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Twitter Facebook LinkedIn Over the past week, the price of Bitcoin has dropped by more than 35 percent, and the majority of analysts in the crypto space have shared the sentiment that the crash was triggered by the contentious hard fork of Bitcoin Cash. According to Bart Smith, the head of digital asset at trading giant Susquehanna, a lack of liquidity in Bitcoin markets allowed the dominant cryptocurrency to be vulnerable to a large sell-off caused by the Bitcoin Cash hash power war and hard fork. In the months to…

Leading Japanese Shipping Line to Introduce Its Own Digital Currency

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Japanese shipping company Nippon Yusen K.K. (NYK) is reportedly launching its own digital currency for crew members, Bloomberg reported Nov. 20. Established in 1885, Nippon Yusen is Japan’s largest shipping line in terms of sales. From April 1 to Sept. 30, 2018, NYK Group’s consolidated revenue was 915.6 billion yen ($8.1 billion). People familiar with the matter reportedly told Bloomberg that NYK is introducing its own digital currency for crew members in order to simplify the process of managing, sending, and converting money into marine workers’ local currencies. The currency…

Top Coins Trading in The Green After Major Drop-Off Yesterday

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Wednesday, Nov. 21: It seems as if the recent drop-off in markets has slowed, with almost all the top 20 cryptocurrencies seeing green today. Market visualization from Coin360 Bitcoin’s (BTC) losses yesterday totalled more than 15 percent, though the coin has managed to bounce back into the green today, up 3.12 percent on the day and trading at around $4,499 at press time. The leading cryptocurrency is down over 21 percent on its weekly chart. Yesterday, Wall Street crypto bull Tom Lee reiterated his recently reduced year-end price prediction of…