Key Points Bitcoin cash price traded higher recently, but it failed to stay above $200 against the US Dollar. There is a key bullish trend line formed with support at $170 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is likely to climb higher once again above $185 as long as it is above $170. Bitcoin cash price is trading with a positive bias above $160 against the US Dollar. BCH/USD must settle above $185 and $200 to gain bullish momentum. Bitcoin Cash Price…
Day: November 26, 2018
Binance Renames Its USDT Market to Combined Stablecoin Market
Major cryptocurrency exchange Binance has renamed its Tether (USDT) Market to be a combined Stablecoin Market (USDⓈ), according to an announcement published Nov. 26. This will purportedly allow the exchange to support more trading pairs of stablecoins. The exchange also notes that USDⓈ is not a new stablecoin, but the symbol of Binance’s new stablecoin market. Binance will deliver a separate announcement about what exact pairs will be moved or added to this market. The move follows the Nov. 15 announcement that Binance would start listing blockchain payment company Circle’s…
Bitcoin to Trade Range-Bound for ‘Three to Six Months’
Vinny Lingham, the CEO of identity management startup Civic, said in an interview with CNBC Nov. 26 that the Bitcoin (BTC) price will remain range-bound for several months, while it could break down of the $3,000 mark. Speaking on CNBC’s “Fast Money,” Lingham suggested that Bitcoin trading will be range-bound between $3,000 and $5,000 for at least three to six months. Lingham expressed doubts about whether the BTC price will break down of the support level at $3,000 since there is “a lot of buying in the short term around…
Craig Wright’s Bitcoin Cash Fork Can Hit $1 Million: Fmr Reddit Crypto Dev
Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. According to former Reddit crypto lead-turned-entrepreneur Ryan X. Charles, there are only a couple options for the future of Bitcoin, specifically Bitcoin Cash-spinoff Bitcoin SV — it goes to astronomical highs, or it goes to zero. To illustrate his point, published the following tweet on Friday. It seems he has decided that of the two networks that came out of the BCH hard fork, he’s on the side…
Bahrain Finance Training Institute Launches ‘Blockchain Academy’
The Bahrain Institute of Banking and Finance (BIBF) is launching what it claims to be the country’s first “Blockchain Academy,” according to an announcement published Nov. 26. The BIBF was established in the Kingdom of Bahrain in 1981 by approval of the Specific Council for Vocational Training. The institute is an unregistered non-profit semi-government entity that provides training in the financial sector. The establishment of the Blockchain Academy purportedly marks the country’s first blockchain professional qualification program offering. The training program is designed to prepare participants to earn the international…
UAE’s Al Hilal Becomes First Islamic Bank to Issue Bond on Blockchain
Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. A state-owned financial institution in the United Arab Emirates, Al Hilal Bank, has made history by becoming the world’s first Islamic bank to execute a Sukuk (Sharia-compliant bond) transaction on a blockchain. In a secondary market deal, Al Hilal Bank used blockchain technology to resell and settle a portion of a US$0.5 billion Sukuk issued two months ago and scheduled to mature in September 2023. According…
Misapplication of Blockchain Tech Leads to ‘Wasted Time’
Ethereum cofounder Vitalik Buterin said that the misapplication of blockchain technology in some industries leads to “wasted time” in an interview with business news outlet Quartz published Nov. 26. Speaking at the Devcon4 blockchain conference, the Ethereum cofounder said that although there are a number of companies that try to establish higher standards by using blockchain technology, he does not think the technology is applicable in every industry: “Sometimes it is for marketing hype. Sometimes it is just people who are genuinely excited about blockchains and want the thing they…
Bitcoin Price Continues to Bleed as Market Fails to Find a Bottom
Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. The bitcoin price on Monday continued its crash course despite showing gains during the early Asian trading session. The digital currency attempted a go at its yearly low at ~$3,455 after reversing from its intraday peak at $4,115. That overall marked a circa 14 percent crash, setting standards for a further bearish action. The BTC/USD index at press time is trading at 3581-fiat, eyeing potential support…
Token Trading Volumes ‘Plummet’ on Major Exchanges, Diar Report Says
A new report from weekly crypto outlet Diar published Nov. 26 states that trading volumes on major exchanges have dropped substantially. Diar’s data, sampled from across eight leading crypto exchanges — Binance, OKex, Huobi, Bitfinex, Kraken, Poloniex, Bittrex, HitBTC — reveals that 60 percent of cryptocurrencies that continue to be listed as of Jan. 2018 are now trading at lower volumes than at the start of the year. Over 20 percent of these have experienced an extraordinary drop, today seeing less than 90 percent of the trading volumes they…
Ohio Accepts Bitcoin for Tax Payments
As Bitcoin heads down the slope, the State of Ohio has just made a move that actually champions the ailing coin. And it’s a vital time for such a move. Ohio has decided to accept Bitcoin for tax payments, becoming the first state to do so. Not only is this move momentous in terms of institutional approval, but its timing is also impeccable—casting a silver lining to what has been a very dark cloud for Bitcoin. Ohio Accepts Bitcoin in the Nick of Time The initiative begins now. Ohio businesses…