Day: December 24, 2018

Ethereum Price Analysis: ETH Corrects Sharply, Can It Hold 100 SMA?

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Key Highlights ETH price traded above the $150 and $154 resistance levels before correcting lower against the US Dollar. Yesterday’s highlighted key bullish trend line was breached with support at $141 on the hourly chart of ETH/USD (data feed via Kraken). The pair traded sharply below the $132 support and traded close to the 100 hourly simple moving average. Ethereum price corrected sharply lower after trading to new weekly highs against the US Dollar and bitcoin. ETH/USD must stay above 100 SMA to bounce back. Ethereum Price Analysis Yesterday, we…

Nevermind the Bears: 2018 Was the Rude Awakening Crypto Needed

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Han Yoon is the CEO of Lundar Digital Assets, a project consulting and marketing firm focused on blockchain. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review.  The brutal bear market we faced this year was not only necessary, it’s beneficial for the long-term outlook of this rapidly growing industry. Yes, I know – you’ve heard this a million times already. But honestly, this bear market was the best thing that happened for our company. I say this with humbleness, because we had great leadership and advisors to…

Altcoin Bitcoin Private Confirms Additional 2 Million Coins Secretly Premined

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The development team behind altcoin Bitcoin Private (BTCP) has confirmed the creation of 2.04 million units of BTCP “that were never intended to exist on the blockchain,” according to an official statement published Dec. 24. On Dec. 23, digital assets analytics website Coin Metrics published a report revealing that during the import of Bitcoin (BTC) chain data, an additional 2.04 million units of altcoin BTCP — about $3.9 million at press time — were secretly minted. Per the project’s white paper, the total supply of BTCP is equal to around…

Bitcoin Maintains Bullish Bias, Eyeing $4,500 as Upside Target

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Bitcoin on Monday maintained its bullish bias despite facing rejection by a strong resistance area. The bitcoin-to-dollar exchange rate surged from $3,956 to $4,244 as the Asian session kicked in. The pair attempted a breakout action but got held by a moderate selling pressure near the session peak. By the European session, an interim bearish correction has brought bitcoin to its session low near $4,022. At press time, the Bitcoin/Dollar rate again is going through a minor accumulation period, which could enable the pair to retest $4,244 for a potential…

Bitcoin, Ripple, Ethereum, Bitcoin Cash, Stellar, EOS, Litecoin, Bitcoin SV, TRON, Cardano: Price Analysis, Dec. 24

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. Christmas has brought some cheer to the crypto traders. The total crypto market capitalization has spiked by about 29 percent from just under $101 billion on Dec. 15 to $143 billion on Christmas Eve. Though it is still way below its all-time-high, the…

Italian Financial Regulator Issues Cease and Desist Order to Crypto-Related Project

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The financial regulator of Italy has barred a cryptocurrency-related project from operations for the provision of allegedly unauthorized investment services, according to an official statement published Dec. 14. Founded in 1974, the Italian National Commission for Companies and the Stock Exchange — or Commissione Nazionale per le Società e la Borsa (CONSOB) — is the government authority of Italy responsible for regulating the Italian securities market. The company prohibited by the CONSOB, Avacrypto, allegedly offered its services to the Italian public without the required authorization, including operating through the website…

Ex-CIA Official Claims Blockchain Is ‘Biggest Threat’ to Future of US National Security

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Andrew Bustamante, reportedly a former CIA intelligence officer, has claimed blockchain is “super powerful stuff” that represents a threat to America’s national security. Bustamante, who specializes in publishing life-hacks based on his knowledge of espionage, made his elliptical remarks in a subreddit thread on Dec. 22. Bustamante is also reportedly a United States Air Force veteran and Fortune 10 corporate advisor. He brought up blockchain in response to a question in a subreddit thread, on news aggregation site Reddit, dedicated to Bustamante’s “Everyday Espionage” — what he dubs an “integrated…

Why Goldman Sachs Suddenly Starting Bitcoin Business is Unrealistic: SolidX

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CEO of SolidX Partners Daniel H. Gallancy According to Daniel H. Gallancy, the CEO of SolidX Partners, it was unrealistic to anticipate Goldman Sachs to run a Bitcoin business before the year’s end. Speaking to Bloomberg, Gallancy, who has been working with a major investment firm in VanEck to introduce a Bitcoin exchange-traded fund (ETF) in U.S. markets, said that investors prematurely expected Goldman Sachs, Morgan Stanley, and other financial institutions in the U.S. to provide Bitcoin custodial solutions and operate digital asset exchanges. He said: The market had unrealistic…

Mining ASIC Producer Ebang Reports ‘Significant’ Q3 Revenue Decrease in New IPO Filing

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Ebang, a crypto mining ASIC hardware producer, has suffered “significant decreases” in revenue in the third quarter of 2018. This development was reported in a new IPO filing submitted by the company to the Hong Kong Stock Exchange (HKEX) on Dec. 20. This is not the first time Ebang has tried to launch an Initial Public Offering (IPO), as the company’s first application from June has reportedly lapsed. HKEX only requires the financial period reported by IPO applicants not to end more than six months from the day of the…

Bitcoin Lightning Network Capacity Surpasses $2 Mln Despite Bear Market

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The capacity of the Bitcoin (BTC) Lightning Network (LN) has surpassed $2 million on Sunday, Dec. 23, according to data provided by BTC statistics website bitcoinvisuals.com. Despite the year-long bear market, combined with the recent market crash dubbed the “crypto winter,” the Bitcoin Lightning network has seen strong growth throughout 2018. As of Dec. 23, node channels that support the Lighting scaling protocol were able to facilitate 496.8 BTC, almost reaching a landmark point of 500 BTC. At that time, the amount was worth about $2 million. The number of…