Day: December 9, 2018

Ethereum Price Analysis: ETH Bullish Above $98 and Bearish Below $88

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Key Highlights ETH price recovered recently, but it faced sellers near the $98 level against the US Dollar. There is a crucial contracting triangle formed with support at $88 on the hourly chart of ETH/USD (data feed via Kraken). The pair may continue to trade in a range below $98 before the next move either above $98 or below $88. Ethereum price is facing many key hurdles against the US Dollar and bitcoin. ETH/USD must break the $98-100 barrier for a solid upward move in the near term. Ethereum Price…

Why Billionaire Investors Remain Positive on Long-Term Trend of Crypto

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Mike Novogratz, Jim Breyer, and Tim Draper are some of many billionaire investors in the traditional financial market who remain optimistic towards the long-term trend of crypto. How are these investors able to maintain their positive stance in regards to the growth of the cryptocurrency sector following an 85 percent decline in valuation across the board? It’s About Cycles For the most part, high profile individual investors are able to handle severe losses in emerging asset classes and high-risk assets like cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) because…

US SEC Delays BTC ETF Decision Again, While Nasdaq Confirms 2019 BTC Futures Launch

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Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link. Top Stories This Week US SEC Delays Bitcoin ETF Decisions, Changes Deadline to Late February The United States Securities and Exchange Commission (SEC) has again postponed its decision regarding approval for a Bitcoin (BTC) exchange-traded fund (ETF) this week. According to a document released by the SEC,…

First Week of December Ends with Flush of Green, Bitcoin Nears $3,700

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Sunday, Dec. 9 — The crypto markets are showing a wave of green, as Bitcoin (BTC) trades closer to $3,700 at the end of the week, as data from Coin360 shows. Market visualization by Coin360 After a week of breaking new year-to-date lows, the major cryptocurrency is trading at around $3,650 by press time, up more than 7 percent over a 24 hour period. The coin is still down almost 9 percent on the week and more than 44 percent on the month, according to Cointelegraph’s Bitcoin Price Index. Bitcoin…

Chinese Central Bank Governor Defines STOs as ‘Illegal Financial Activity in China’

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The People’s Bank of China (PBoC), the country’s central bank, highlighted the illegality of Security Token Offerings (STOs) in the country, English-language local news outlet South China Morning Post (SCMP) reports Dec. 9. A deputy governor of China’s central bank, Pan Gongsheng, reportedly told a summit in Beijing “that ‘illegal’ financing activities through STOs and ICOs [Initial Coin Offerings]  were still rampant in the mainland despite a nationwide clean-up of the cryptocurrency market last year.” Gongsheng also said that if the government had not stepped in, the chaotic crypto market…

Cherry on Top: Bitcoin ABC, Bitmain, Ver Target of Suit Following BCH Split

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As if the drama surrounding the recent Bitcoin Cash split needed a sequel, the vaudevillian sideshow has reached a new stage: the legal arena. A suit spearheaded by United American Corporation (UnitedCorp), a telecom company with a little-known blockchain subsidiary, BlockNum, is taking legal aim at Bitmain and its cofounder Jihan Wu; Bitcoin.com and its CEO, Roger Ver; Kraken and its CEO, Jesse Powell; and others. The suit “is seeking injunctive relief,” alleging that the defendants engaged in “collusion for the purpose of control of the [Bitcoin Cash] network.” The…

IBM Partners with Abu Dhabi National Oil Company for Blockchain Supply Chain System

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The Abu Dhabi National Oil Company (ADNOC) has successfully collaborated with IBM to pilot a blockchain supply chain system, according to an ADNOC press release published on Dec. 9. The release notes that ADNOC — a state-owned oil company in the United Arab Emirates (UAE) — is reportedly among the world’s leading energy and petrochemical groups, with a daily output of about 3 million barrels of oil and 10.5 cubic feet of natural gas. The pilot project has “provided a single platform that tracks the quantities and financial values of…

South Korean Startup Presto to File Constitutional Appeal Against Local ICO Ban

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A South Korean blockchain startup, Presto, will reportedly file a constitutional appeal over the county’s ban on Initial Coin Offerings (ICOs), South Korean economic media outlet Sedaily reports Dec. 6. Presto claims on its website that it provides a “total solution to development teams from website building to token issuing.” The startup was reportedly trying to run a Decentralized Autonomous Organization-based Initial Coin Offering (DAICO) in South Korea for the first time. As Cointelegraph explained in a dedicated guide, DAICOs aim to improve the ICO fundraising method by integrating some…

Bitcoin Price Weekly Analysis: BTC Sellers In Control Below $3,600

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Key Points Bitcoin price extended losses below the $4,000 and $3,600 supports against the US Dollar. There is a significant bearish trend line formed with resistance at $3,630 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently consolidating losses above $3,200, with resistances near $3,500 and $3,600. Bitcoin price is in a major downtrend below $4,000 against the US Dollar. BTC/USD may continue to struggle to recover above the $3,600-3,700 resistance zone. Bitcoin Price Analysis This past week, bitcoin price declined below the…

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