Day: December 11, 2018

Ethereum Price Analysis: ETH Breaks Key Support, More Losses Likely

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Key Highlights ETH price failed to hold the key $88 support and declined recently against the US Dollar. Yesterday’s highlighted major contracting triangle was breached with support at $88 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to decline further and upsides remain capped near the $90 and $92 levels. Ethereum price extended losses recently against the US Dollar and bitcoin. ETH/USD may continue to move down and it could even test the $80 support zone. Ethereum Price Analysis After forming a top near…

The Next Quantum Leap in Financial Trading

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A common narrative in today’s financial world is that crypto holders are often unable to execute trades without paying large amounts of commissions and fees. Traditional markets are loaded with retail brokerages that bet against their clients with artificially adjusted prices, spreads and unrealistic fees. Enter Quantfury, an emerging enterprise that’s on an ambitious quest to reshape this landscape for everyday cryptocurrency holders and others who enjoy trading the markets.  Founded in April 2017 with offices in Toronto and Singapore, Quantfury offers a state-of-the-art trading app for both iOS and…

Crypto Holiday Guide: Gifts for Every Bitcoiner on Your Shopping List

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The holiday season is here. And even if crypto prices are on the coal heap, you can still have fun spreading some holiday bitcoin cheer. For the bitcoiners in your life, this could mean a crypto-related gift as a token of solidarity. After all, what better way to commiserate with fellow HODLers than decking their holiday halls with bitcoin-themed gifts? What better way to say “we’re in it for the long haul” than with a hardware wallet? Or “I’ve got your back — literally” than with a bitcoin t-shirt? From…

Coinbase Might Be Behind Those 856,000 BTC Worth of Transactions

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Last week, it was reported that a Bitcoin whale had moved thousands of bitcoin into different wallet addresses. Between December 1 to December 6, 2018, the whale split 856,000 bitcoin between 107 wallets, sending an equal 8,000 BTC into each wallet. Speculators have formulated different hypotheses since the monstrous sum was moved. Was it a market whale moving funds to Over-the-Counter (OTC) markets? Could the sender be the Foundation for Economic Education (Fee.org)? (This second theory is highly improbable as the listed address on the organization’s website reveals it has…

Bitcoin Price Analysis: Bear Pennant Breakout Puts $1,700 Price in Sight

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Another week, another low. Bitcoin’s market has been bleeding relentlessly for weeks and now, after falling 50% in value in just one month, the market has managed to break south of a major bearish consolidation pattern called a bear pennant: Figure 1: BTC-USD, 4-Hour Candles, Bear Pennant Breakout This is a massive bear pennant with a staggering $2,000 measured move. In layman’s terms: The price target for this breakout would be approximately $1,700, after all is said and done. Now, it’s important to note this is just a projection and…

OKEx Crypto Exchange Lists Bitcoin Cash ABC Under Original Bitcoin Cash Ticker

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The Malta-based cryptocurrency exchange OKEx announced that it will list Bitcoin Cash ABC under the original Bitcoin Cash ticker BCH, according to an official statement Dec. 11. According to the announcement, the sixth largest crypto exchange will change the ticker of Bitcoin Cash ABC from BCHABC to BCH. It will also change the Bitcoin Cash SV ticker from BCHSV to BSV. The ticker switch will take place at 5 a.m. UTC+1 on Dec. 13. Spot trading of both BCHSV and BCHABC will be suspended while all remaining balances of the…

Four Vermont State Agencies Establish Blockchain Working Group

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Four agencies of the state government of Vermont in the United States have jointly formed a working group to study blockchain technology, according to an announcement published Dec. 10. The working group will comprise the Attorney General’s Office, the Department of Financial Regulation (DFR), the Secretary of State, and the Agency of Commerce and Community Development (ACCD), and will include industry experts among members. The group will purportedly begin its work in January 2019. The group will purportedly address three core issues, including the opportunities, challenges, and concerns surrounding blockchain…

KFC Venezuela Denies Accepting Dash Payments

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The CEO of KFC Venezuela, Antonio Sampayo, has denied a recent announcement that it will start accepting major altcoin Dash (DASH), Spanish language crypto media Criptonoticias reports Monday, Dec. 10. Sampayo explained that KFC had discussed a crypto-related test with Dash, but the contract has not yet been finalized. He also said that processing payments with Dash “is not a fact, nor has the publication of any news about it been authorized.” On Friday, Dec. 7, the PR and media director at DashNews Mark Mason posted a tweet stating that…

British Crypto Exchange CEX.IO Now Requires Identity Info From Users

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United Kingdom-based cryptocurrency exchange CEX.IO now requires its users to disclose their identities, financial trading news outlet Finance Magnates reported Dec. 11. Established in 2013, CEX is a London-based cryptocurrency trading platform, initially started as a cloud mining provider. Currently, the exchange supports eight major digital currencies and four major fiat currencies, while its adjusted daily trading volume is around $4.9 million, according to CoinMarketCap. While the situation with Brexit — the scenario in which the U.K. leaves EU — remains cloudy, CEX.IO does business with clients internationally, and therefore…

Mike Novogratz Compares Current Bitcoin Markets to ‘Methadone Clinic’

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Mike Novogratz compared current cryptocurrency  market performance to a “methadone clinic” in an interview with Bloomberg Dec. 11. During the interview, Bloomberg asked Novogratz how coming from Wall Street made him different from most of the cryptocurrency community, which seem to treat cryptocurrency “almost like a religion.” Novogratz answered that, while he believes in the underlying technology, “when prices get stupid,” he sells. Novogratz also characterized Bitcoin’s (BTC) enormous growth in late 2017 –– which peaked at $20,000 per coin –– “a drug.” He called the period a “speculative mania,”…