Day: December 8, 2018

Bitcoin Cash Price Weekly Analysis: BCH/USD Could Struggle Near $120

TradingBTC

Key Points Bitcoin cash price declined heavily and even broke the $100 support against the US Dollar. There is a crucial bearish trend line formed with resistance at $120 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair is currently correcting higher, but it is likely to struggle near the $120 resistance. Bitcoin cash price fell sharply below $150 and $100 against the US Dollar. BCH/USD may correct higher in the short term towards $115 or $120 resistance. Bitcoin Cash Price Analysis This past week,…

Why Bitcoin is Not in a Death Spiral, Refuting Reports

TradingBTC

Over the past month, many reports about the materialization of a potential “death spiral” on the Bitcoin network were released, leading investors to be concerned about the short-term trend of the dominant cryptocurrency. According to a security expert and cryptocurrency researcher Andreas Antonopoulos, a death spiral is unlikely to happen in Bitcoin. What is a Death Spiral and Why it Likely Won’t Happen On the Bitcoin network, miners find a block filled with transactions every ten minutes. After 2016 blocks are mined, the network automatically readjusts the difficulty of mining…

Over-the-Counter Trading as the Latest Battleground to Secure Institutional Investment

TradingBTC

With the increasing trend for major financial institutions to invest in Bitcoin, United States crypto exchange and wallet provider Coinbase announced the launch of over-the-counter (OTC) trading for institutional customers on Nov. 27. OTC trading allows investors to carry out direct trades with each other. It means that the company’s institutional users won’t be trading through a crypto exchange or an intermediary. Coinbase’s latest trading initiative began on June 6, when President and COO Asiff Hirji explained that obtaining a regulatory license would enable the company to set off on…

Traders Cautious as Bitcoin Plunges to a New Yearly Low: Can it Recover?

TradingBTC

On December 7, the Bitcoin price achieved a new yearly low, as the valuation of the crypto market fell by $16 billion within a 24-hour span. Bitcoin Price Struggles to Recover from New Yearly Low Bitcoin (BTC) fell to as low as $3,210 on fiat-to-cryptocurrency exchanges like Bitstamp and Coinbase, which led other major cryptocurrencies and low market cap digital assets to fall by around 15 to 20 percent against the U.S. dollar. Since then, the Bitcoin price has rebounded from $3,210 to $3,455, by more than seven percent within…

Major UK Charity Fund Executive Believes Crypto Market Crash Is ‘Just a Bump in the Road’

TradingBTC

A major United Kingdom charity fund executive said at the Bloomberg Crypto Summit in London this Friday that the recent crypto market crash is just a “bump in the road,” Bloomberg reports Dec. 7. James Bevan, the chief investment manager at CCLA, told the audience during a panel that he doesn’t see the recent decrease in the value of cryptocurrencies “as an existential crisis”; rather, he noted that he believes this is just “a bump in the road.” Bevan then also compared crypto to traditional finance, stating that “institutional investors…

Huobi Opens First Russian Office in Partnership with State Bank’s Digital Tech Center

TradingBTC

Singapore-based cryptocurrency exchange Huobi has officially launched its first branch in Russia on Thursday, Dec. 6, according to a press release shared with Cointelegraph today. The Moscow-based exchange, dubbed Huobi Russia, is established in partnership with the state-owned Russian Development Bank’s (VEB) Digital Transformation Center and supported by Huobi’s regional exchange partnership program, Huobi Cloud. The Center of Digital Transformation was created by VEB to promote blockchain and other crypto-related technologies, as its website states. Back in September of this year, Huobi first joined Russia’s VEB Innovation Fund and became…

Bitcoin Avoids Large Drop Below $3k With 7% Recovery, Trend Reversal?

TradingBTC

Over the last 24 hours, the Bitcoin price has experienced a seven percent recovery from $3,210 to $3,433, avoiding a further drop below the $3,000 support level. Many traders expected Bitcoin (BTC) to rebound from the $3,000 to $3,300 range because the $3,000 support level has shown strength throughout the past two weeks. Ethereum (ETH) recorded a 15 percent increase from its daily low and ERC20 tokens such as Quarkchain, OmiseGo, and 0x demonstrated gains in the range of 5 to 15 percent, due to the integration of tokens by…

Video Demonstrates Double Spending Possibility in Bitcoin Cash SV ‘0-Conf’ Transactions

TradingBTC

Bitcoin Cash SV (BSV), a new fork of Bitcoin Cash (BTC), faced new controversy on Dec. 8 after a researcher reportedly showed how any user could spend the same coins twice on its network in a “0-conf transaction.” Bitcoin Cash, which was created in a hard fork from Bitcoin (BTC) in August 2017, uses 0-conf (or zero-conf) to allow almost instant transactions, meaning they are almost always confirmed in the following block. In a multi-phase test including a video demonstration posted to Vimeo, the user, known as “reizu,” succeeded in…

Crypto Rankings’ Shake-Up Follows Yesterday’s Market Crash as Bitcoin Stays Around $3,400

TradingBTC

Saturday, Dec. 8 — Amid a new collapse in the crypto markets yesterday, cryptocurrency ranks are continuously changing as various coins overtake each other by market capitalization. While green prevails among a number of top 100 coins, the markets are trading sideways, with the total market cap hovering at the same levels as yesterday. Market visualization from Coin360 Bitcoin SV (BSV), Bitcoin Cash’s (BCH) hard fork that had been ranked fifth yesterday on CoinMarketCap, is now down on the list, with major stablecoin Tether (USDT) having taken over both BSV…

Chinese Internet Court Uses Blockchain to Protect Online Writer’s Intellectual Property

TradingBTC

An Internet Court in Hangzhou, Eastern China, has turned to blockchain to fight piracy at the expense of online writers, English-language media outlet China.org.cn reports Dec. 8. China has reportedly “set up three Internet courts in Hangzhou, Beijing and Guangzhou.” Internet Courts are courts expressly intended to manage internet-related cases and allow plaintiffs to file their complaints online. The official website of Hangzhou Internet Court reads that it “behave[s] as an ‘incubator’ for Internet space governance, a ‘test field’ for Internet judicial rules, a ‘leader’ for diversified Internet disputes, and…