Ethereum (ETH) Hits All Bearish Targets, Bitcoin Down 8%

Ethereum price declined heavily below $170 and traded close to $150 against the US Dollar. Bitcoin price is down more than 8% and it even traded below the key $7,500 support. Yesterday’s highlighted bearish trend line is intact with resistance near $165 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently correcting higher and it could rebound towards the $165 resistance. Ethereum price nosedived and tested the $152 support area versus the US Dollar, while bitcoin dived 8%. ETH price could now correct higher in…

ING Bank Proposes Security and Privacy Trade-Off for Corda Blockchain

ING announced that researchers at the financial services firm have solved a security and privacy issue on blockchain software firm R3’s Corda blockchain. On Oct. 23, ING’s distributed ledger technology team presented its white paper, called “Solutions for the Corda security and privacy trade-off: having your cake and eating it,” where it reportedly found a solution to improve the security and privacy trade-off on Corda, an open-source blockchain platform. Zero-knowledge proofs allow for greater privacy and security The white paper states that currently, the content of each transaction on the…

Libra Will Not Hit the Market Without US Approval, Says Zuckerberg

The crypto sphere is known for being a disruptive force, but even this sector got a disruptive jolt of its own when Facebook (NASDAQ:FB) announced it would be launching its own cryptocurrency, Libra, in 2020. However, ever since the company announced the launch of its own stablecoin, it has come under fire from regulators from all over the world. Major Setback? As a matter of fact, even the United States President slammed the project and asked the company to instead apply for a banking license. It has now emerged that…

Bitcoin Collapses below $7,500 after Brexit Breakthrough

Bitcoin took a deep dive on Wednesday to test the levels last seen in May. The benchmark cryptocurrency plunged by up to circa $566.29, or 7.65 percent, in just two hours of trading. The move downside brought bitcoin down to a session low of $7,402.20. While the price later corrected, its upside remained capped by the support-turned-resistance level of $7,500, hinting an extended bearish action. Bitcoin dips below $7,500 in latest bearish continuation signal | Source: TradingView.com The story was the same across the other top cryptocurrencies. Ethereum, the second-largest…

Bitcoin Price Suddenly Plummets to $7,500 — A New 5-Month Low

Bitcoin (BTC) crashed $500 in minutes on Oct. 23 after a sudden jolt sent markets tumbling to fresh lows. Cryptocurrency market daily overview. Source: Coin360 Bitcoin firmly ditches $8K range Data from Coin360 captured the moment panic hit for traders on Wednesday, BTC/USD going from $7,950 to $7,450 in just five minutes. Bitcoin seven-day price chart. Source: Coin360 The reasons for the dip are yet to become clear, but the volatility upends the most recent period of flat performance for Bitcoin. The move may have been preempted. As Cointelegraph reported,…

Gold Is the Top Safe Haven Asset, but Here’s Why Bitcoin Has Appeal

Analyst, Chris Mancini claims governments are increasingly turning to gold, and not Bitcoin, in order to hedge against economic uncertainty. Motivated by geopolitical wranglings, as well as a desire to reduce dollar reliance, the Chinese and Russian central banks are driving demand for gold. Is Bitcoin now out of the picture? Gold Trumps Bitcoin In a Kitco News interview, Analyst at Gabelli Gold Fund, Chris Mancini said that gold is the ultimate power move during times of uncertainty, and not Bitcoin, as evidenced by government actions. He said: “the Chinese…