Day: July 4, 2019

Ethereum (ETH) Price Dips Again After Bitcoin Struggled To Clear $12K

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ETH price failed to gain pace above the key $300 resistance area against the US Dollar. There was a sharp decline below the $290 and $295 support levels. There is a major bearish trend line forming with resistance near $290 on the hourly chart of ETH/USD (data feed via Kraken). The price is at risk of more losses below the $280 support level unless the price recovers above $290. Ethereum price is under pressure below the $290 pivot level versus the US Dollar, and declined vs bitcoin. ETH price could…

$500 Million Spend On XRP Use Case Development

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Ripple (XRP) under pressure $500 million has been spent in over 20 companies by Ripple’s Xpring. Xpring has spent over $500 million in over 20 companies. Their focus is to “build the best crypto infrastructure through contributions to open source crypto protocols such as the XRP Ledger and InterLedger projects.” Even so, XRP is under pressure and down 15.1 percent week-to-date. Ripple Price Analysis Fundamentals Adoption is the only catalyst that will turbo-charge blockchain related development. Standing to reap enormous benefits is Ripple. Armed with three innovative solutions, progress is…

Bitcoin (BTC) In A Pole Position To Soar After Trump’s Recent Remarks

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Bitcoin (BTC) bulls are firm, adds 4.2 percent Slashing rates and weakening the USD is bullish for BTC Because of Trump’s pressure on the Federal Reserve, the central bank could end up cutting interest rates. According to Pompliano, such a lax monetary policy could see capital flow to Bitcoin. In turn that will lift prices toward $100,000 by 2021. Bitcoin Price Analysis Fundamentals There is a direct correlation between Bitcoin price expansion and global economic turmoil. A slip in the latter causes a sporadic rise in the other, and there…

Ethereum Prefered For dApps, ETH Prices and User Activity Correlate

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Ethereum (ETH) prices unchanged Developers prefer Ethereum as the smart contracting space heats up A latest dApp research report backs Ethereum. Despite limitations, Ethereum is a top-choice for developers. Meanwhile, prices are stable. Because of June 26-27 candlestick arrangement, there is a chance of ETH prices printing lower in days ahead. Ethereum Price Analysis Fundamentals Tokenization is possible because of smart contracts. Ethereum showed the way, and now the space is congested. With various platforms promising ultra-high throughput sometimes in the tune of millions, Ethereum’s position could be under threat…

Bitcoin Traps Gold’s Market Share as Sovereign Bonds Become Unattractive

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Bitcoin’s revival is considered to be Facebook’s Libra doing. The social media’s giant sudden foray into the cryptocurrency industry gave bitcoin, as many believe, a perfect reason to grow its valuation. That is until one considers a simultaneous price rally that took place in the gold market. Bitcoin’s rise above the $13,000 level has only one potential link to the yellow metal’s ascent above $1,400 an ounce: a weaker US dollar sentiment. Bitcoin has Recovered by More than 275% Since Its Bounce Back from the $3,120 Level | Image Credits:…

Bitcoin Price Recovery Banishes Slump as Momentum Tests $12,000

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On strictly regulated crypto exchanges such as Coinbase, the bitcoin price fell to $9,700 on July 2, recording a 30 percent drop from its yearly peak at $13,868 achieved in late June. In the past two days, within a 48-hour span, the bitcoin price has shown rapid recovery from $9,700 to $11,800, demonstrating a four percent gain on the day against the U.S. dollar. What is fueling the momentum of bitcoin? According to Holger Zschaepitz, a financial analyst at Welt, the bitcoin price has closely resembled the performance of gold…

Cuba ‘Studying Cryptocurrency’ to Dodge US Sanctions, Says Gov’t

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Cuba is the latest country to consider using cryptocurrency to skirt U.S. sanctions, Reuters reported quoting a government source on July 3. In a public address on local television, the country’s president, Migual Diaz-Canel, said the plan would raise capital for around one quarter of the population, helping to pay for reforms.  Cuba has felt a severe knock-on effect from the crisis in Venezuela, which was previously a major source of aid.  “We are studying the potential use of cryptocurrency… in our national and international commercial transactions, and we are…

Gab Seeks $10M to Decentralize and Use ‘Free Speech Money’ Bitcoin

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Social media platform Gab has made a bid to seal $10 million in a Series A crowdfunding round that will enable it decentralize its infrastructure and integrate bitcoin (BTC) and Lightning Network payments.  Founded in 2016, Gab has risen to notoriety due to a perception that it serves as an “echo chamber” for “extremist,” alt- or far-right views as it welcomes users who have been banned from sites like Twitter and Facebook for their alleged violations of hate speech rules. More broadly, the site targets a user base of libertarian,…

Canadian Startup Wants to Upgrade Millions of ATMs to Sell Bitcoin

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Canadian exchange Coinsquare has acquired software allowing traditional ATMs to sell cryptocurrency such as bitcoin (BTC), according to a press release on July 3. Coinsquare announced a controlling investment in Just Cash, a United States-based fintech startup that has developed a software that allows users to purchase crypto directly through traditional ATM machines without the need of additional hardware or mobile application. Following the investment of undisclosed amount, the Just Cash team will join Coinsquare in and operate under Coinsquare brand. Coinsquare CEO Cole Diamond says that the new initiative…

Crypto ‘Crap’ Is Not Compliant, Rogue Currency

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Canadian businessman and TV personality Kevin O’Leary said that cryptocurrencies pose serious compliance challenges to the financial services industry. During an interview published on July 3, O’Leary said that he would not invest or get involved in cryptocurrencies because of their purportedly unregulated nature: “If I want to be compliant and I don’t wanna breach any regulators because I’m a participant in financial services globally, and that is where the majority of money is, […] I have to be compliant, I have no interest in doing any of this crypto…