Bitcoin Price Faces Drop to $8.5K After Consecutive Weekly Losses

View Bitcoin’s consecutive weekly losses and multiple failures at key resistance have shifted risk in favor of a drop to around $8,550 and perhaps as low as $8,000. Daily chart indicators have turned bearish for the first time in over a month, supporting the case for a deeper decline. A high-volume move above $9,335 (descending trendline from 2019 high) is needed to revive the bullish view. Bitcoin is looking south after back-to-back weekly losses and multiple rejections at key price resistance. The top cryptocurrency by market value fell 2.6 percent…

How to Turn a $17 Million ICO Into $104 Million: The Cosmos Story

The Interchain Foundation (ICF) raised $17 million in April 2017 to shepherd the development of the Cosmos network, a system for making blockchains talk to each other. Following the sale of its ATOM token, the ICF has funded a cast of supporting players, like Agoric Systems Operating Company (which the ICF invested in for traditional equity) and Tendermint, to build the underpinnings of the project’s interoperable aspirations: the Inter-Blockchain Communication (IBC) protocol. The goal is to be well-positioned for a multi-chain future. “I could have a contract on one chain…

Bitcoin (BTC) Price Rebound Facing Key Resistance Near $9,100

Bitcoin price started an upside correction from the $8,674 swing low against the US Dollar. The price is up around 3%, but it is facing hurdles near the $9,100 and $9,150 levels. There is a key bearish trend line forming with resistance near $9,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). On the downside, there is a decent support forming near the $8,860 levels. Bitcoin price is currently correcting higher above $8,800 against the US Dollar. However, BTC is still facing a couple of key…

Ethereum (ETH) Recovering Nicely While Bitcoin Runs Into Resistance

Ethereum price is up more than 3% and recovering above $188 against the US Dollar. There was a decent upside correction from the $180 support area. There is a key bullish trend line forming with support near $186 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin is gaining momentum, but it is now trading near a crucial resistance at $9,100 (as discussed in the weekly forecast). Ethereum price is recovering nicely above $188 versus the US Dollar, similar to bitcoin. ETH price might recover further towards $195…

Russian Crypto Plot, China Mining U-Turn, Lottery Winner’s BTC Gamble: Hodler’s Digest, Nov. 4–10

Coming every Sunday, Hodler’s Digest will help you 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 Russia: New law would let police confiscate Bitcoin from 2021 We begin in Russia, where the government is pursuing a seemingly impossible law that would allow it to confiscate Bitcoin (BTC). Reports suggest that the plans, which target “digital assets,” could become law in 2021.…

EIDOS Airdrop 95% of Transfers

The EOS blockchain is congested by the EIDOS token airdrop, cryptocurrency exchange Coinbase reports on Nov. 9. In a post on its blog, Coinbase claims that it had trouble in processing its clients’ transactions due to EOS network congestion caused by the EIDOS token airdrop. The exchange has since solved the issue by increasing the amount of staked CPU, securing a sufficient portion of the CPU time remaining on the network to process its transactions. Interestingly, the incident also caused the price of CPU time on the network to increase…

Why Bitcoin’s Next ‘Halving’ May Not Pump the Price Like Last Time

Noelle Acheson is a veteran of company analysis and CoinDesk’s Director of Research. The opinions expressed in this article are the author’s own. The following article originally appeared in Institutional Crypto by CoinDesk, a weekly newsletter focused on institutional investment in crypto assets. Sign up for free here. To find out more about crypto valuation metrics, download our free report here. Whether you call it the “halving” or the “halvening,” one of the few things we can be sure of in crypto is that the conversation around bitcoin’s upcoming reduction in…

Ethereum Price Weekly Forecast: ETH Holding Uptrend Support

ETH price declined recently below the $188 and $186 support levels against the US Dollar. The price is still trading above the key $180 and $178 support levels. There is a crucial bullish trend line forming with support near $180 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase as long as there is no daily close below the $178 support. Ethereum price is currently holding a significant support against the US Dollar, while bitcoin is declining. ETH price is likely to…

Bitcoin (BTC) Price Weekly Forecast: More Downsides Likely

After consolidating above $9,000, bitcoin declined heavily against the US Dollar. The price is currently trading in a bearish zone, with a close below $9,000 and $8,920. There was a break below a major contracting triangle with support near $9,180 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The price is currently showing bearish signs and it could decline further towards $8,560 or $8,300. Bitcoin price is trading in a downtrend below $9,000 against the US Dollar. BTC remains at a risk of more downsides towards…

Crypto News From Japan: Nov. 2–9

In this week’s selected cryptocurrency- and blockchain-related news from Cointelegraph Japan, the Japanese financial regulator solidifies its policy of banning trusts that invest in crypto, more than 20 companies launch a consortium that aims to raise funds with security tokens, and Coincheck starts its automated cryptocurrency accumulation service, while it denies having had any previous knowledge about Stellar Lumens’ 55 billion token burn. Here is the past week of cryptocurrency and blockchain news in review, as originally reported by Cointelegraph Japan. FSA confirms ban on cryptocurrency investment trusts The Japanese…