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Cryptocurrencies start contributing as Square earning beats street estimate

It was all joys for Jack Dorsey’s Bitcoin-integrated financial services company Square as they received two stunning news – First being it took over Twitter (Jack’s other company) in market cap $30 billion to $25 billion and Second being that the company delivered stellar quarterly results beating street estimates. One thing worth noticing here was cryptocurrency business did have its share of contribution in both the news. Cryptocurrency business contributes USD 43 million (near 10% of this quarter) to revenues San Francisco-based Square, which is well-known in the payments sector for its credit card processor, payment hardware and popular Cash app ,reported quarterly earnings and revenue that beat analysts’ expectations on Wednesday but came up slightly short on forward guidance. According to CNBC, Squares results outperformed both on the top line and the bottom line. Here is the performance compared to the street expectation Earnings: 13 cents per share vs. 11 cents per share for..

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Are Bitcoin Fundamentals Getting Stronger or Weaker? Huobi Weekly Report Reveals Striking Observations

A lot of people on the street have spoken about how the bitcoin fundamentals are bettering, but a recent weekly update by Huobi Research speaks a slightly different story. The weekly update captures some data points put forward by Firecoin Blockchain Big Data which claims that the last two weeks have not been that great for Bitcoin fundamentals. Are Bitcoin fundamentals getting weaker? Huobi Research mentioned the first weekly update of 2019 by the data team of Firecoin Blockchain Research Institute and states that the fundamentals of cryptocurrencies started 2019 on shaky ground. Huobi Research shared the first weekly update of 2019 which captured some really interesting points put forward by the data team of Firecoin Block Chain Research Institute. The report puts forward the following key bitcoin fundamental findings. The number of new Bitcoin addresses has dropped significantly for two consecutive weeks, and this week it hits a new low of the past half a year; The number of tr..

Ran NeuNer Shares Recipe of How Tether is Fooling Investors

With events and concerns in relation to Tether’s dollar backing and news related to Tether’s malicious strategies, Ran Neuner, the Crypto Manran, took to his twitter handle suggesting a perfect game plan on how Tether is doping investors. Ran NeuNer explains how Tether me pocket over USD 30 mn Ran NeuNer, CNBC Africa’s “Crypto Trader” host, has expressed his outrage on Twitter pertaining to Tether redeem and burn 600 mn of USDT tokens. He claims that Tether was able to make about $30 mn because of last week’s five percent discount. Tether redeeming and burning 600m tokens, taking them out of circulation. Last week the average discount was about 5%… thats a quick $30m right there. pic.twitter.com/kYaBiZGlpr — Ran NeuNer (@cryptomanran) October 21, 2018 His tweet immediately provoked a heated discussion with Twitter users agreeing that the company behind the world’s biggest stablecoin is not playing fair. I’d laugh if it comes out that Tether is buying them back themselves… Sell you..

Regulatory hurdles reducing Europe, Promising Crypto Christmas in Europe

All news that affects the crypto markets significantly usually comes either from Far East Asia (Japan and Korea) or Far West (Majorly USA). But the recent news flow from the past couple of months has shifted all eyeballs to Europe as the countries are making some serious attempts to make crypto investing friendlier. Regulatory hurdles reducing Europe Europe has been a very small crypto market in Europe despite huge potential thanks to regulatory hurdles presented by certain countries and regulators at European Union. But with recent news flow that is coming in shows that finally things are changing as Europe marches ahead to claim a much bigger role in the world of cryptocurrencies. The biggest market in Europe has been Germany and the nation hasn’t disappointed when it came to cryptos as well. According to the news Germany’s second-largest stock exchange, Boerse Stuttgart Group, is set to launch a cryptocurrency trading platform in the first half of 2019. The firm announced this we..

Jack Dorsey may Bring Blockchain to Twitter to Solve the Issues of Transparency

Jack Dorsey has been a great follower of the blockchain technology. He has integrated cryptocurrencies and blockchain into his business like the Square app. In the latest application of blockchain, Jack Dorsey may get blockchain technology to Twitter, this time to fight scams and misinformation and improving transparency of the social media platform. Twitter is exploring blockchain Jack Dorsey testifies Jack Dorsey testified before a Congressional committee that social media giant Twitter is exploring the uses of blockchain technology. The US House Committee on Energy and Commerce asked him questions related to transparency and accountability. Dorsey suggested that distributed ledgers could be used to stop scams and misinformation on the platform. Dorsey was asked by California representative Doris Matsui about the potential use of blockchain in the social media company. Dorsey answered: “Blockchain is one that I think has a lot of untapped potentials, specifically around distribute..

‘I Don’t Want to Be President’: John McAffee to Exclusively Promote Crypto in 2020 Race

Bitcoin evangelist John McAfee admitted his intention to use his presidential campaign to promote crypto. Programmer and crypto enthusiast John McAfee revealed his intention to use his 2020 bid for U.S. presidency as a platform to promote permissionless cryptocurrencies in an interview with Cointelegraph Nov. 1. Speaking with Cointelegraph at the Malta Blockchain Summit today, the founder of McAfee Antivirus Software said he plans to run “around a libertarian platform,” and use his access to the national stage solely to discuss cryptocurrencies, while expressing сonfidence that “no one will elect [him] as president.” McAfee commented that his pro-crypto stance is mainly based on the concept of “personal freedom,” stating that in his coming bid for presidency he wants “to talk about personal freedom and how cryptocurrency can help us achieve that.” McAfee elaborated that his intention to run to presidency was not to win, but rather to gain a large public platform for promoting decentr..

West Virginia Secretary of State Reports Successful Blockchain Voting in 2018 Midterm Elections

The West Virginia Secretary of State has announced that 144 voters successfully cast their ballots in the 2016 midterm elections on a mobile, blockchain-based platform. The Secretary of State of the U.S. state of West Virginia Mac Warner reported a successful first instance of remote blockchain voting in an official announcement Nov. 15. Warner stated that in the 2018 midterm elections, 144 military personnel stationed overseas from 24 counties were able to cast their ballots on a mobile, blockchain-based platform called Voatz, adding: “This is a first-in-the-nation project that allowed uniformed services members and overseas citizens to use a mobile application to cast a ballot secured by blockchain technology.” Voting for the general elections on the platform started in September, when absentee balloting opened in West Virginia. The first trial of the new platform took place during the state’s primary elections in April. Blockchain-based ballots were then restricted to a select gro..

Japan’s National Police Agency to Employ New Software to Track Crypto Transactions

Japan’s National Police Agency is looking to use special software to track crypto transactions in order to fight the illicit use of crypto. In response to a reported increase in the illicit use of cryptocurrencies, Japan's National Police Agency (NPA) plans to introduce new software which can track cryptocurrency transaction history, Japan's national public broadcasting organization NHK reported August 30. In 2019, the National Police Agency will reportedly put special software into service to track the history of virtual currency transactions within the country. The move comes as part of an effort to fight the increased level of cryptocurrency misuse and thefts. In order to cover the expense of the new software, the NPA is looking to increase its budget by 35 million yen (around $315,000) for the next fiscal year. The software was developed by a private company, the name of which has not been disclosed. According to the NHK, the software can extract transaction data needed..

Following $120 Million Funding Round, Waves Token Price Jumps Over 30%

Global blockchain platform Waves raised $120 million in a private funding round for its new project called Vostok. Global blockchain platform Waves has raised $120 million in a private funding round for its new project called Vostok, according to an official blog post published Dec. 19. The Vostok project is a “universal blockchain solution” that combines two basic components  — its own private blockchain platform, and the Vostok system integrator, a tool for developing and optimizing the platform. The Vostok blockchain is focused on the deployment of Waves technologies for commercial and government IT systems. The new product will reportedly help the Waves Platform to develop new technologies such as artificial intelligence (AI), Internet of Things (IoT), and blockchain in order to “support a truly open and decentralised web.” The private funding round was led by London-based financial services firm Dolfin, as reported by financial trading news website Finance Magnates. Waves starte..

Bitcoin Price Analysis: Bitcoin Surges Above the $6700 handle; Is $7000 Next?

Bitcoin has seen 2.59% increase in price over the past 24 hours of trading. The cryptocurrency is currently exchanging hands at a price of $6691 after seeing a small 3.63% price increase over the past 7 trading days. Key Highlights Since our last analysis, Bitcoin retraced into the short term .618 Fibonacci Retracement level and rebounded. It has recently broken back above the $6700 handle with a price surge. Support levels moving forward; $6665, $6639, $6557, $6453, $66384, $6258 and $6189 Resistance levels moving forward; $6715, $6775, $6824, $6862, $6945 and $7027 Bitcoin remains the number 1 ranked currency in terms of overall market cap across the entire industry. It currently has a total market cap value of $115 billion after the cryptocurrency finally sees a +3.91% 90-day increase. The 65-month-old coin is still trading at a value that is 65% lower than its all-time high price. Let us continue to analyse price action for Bitcoin over the short term and update our support an..

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Regulation

Will Tether Do An Audit? Circle’s Audit Report For USDC Raises Pressure on Tether for Audit

Tether is facing the same question again and again as its competitors are ticking all the right boxes what investors want. In less than 24 hours since Circle released its third independent audit report for its USDC, people have already started questioning Tether again to come out clean on its dollar balances that are currently backing Tether (USDT) in circulation. Tether Losing Market Share, conspiracies finally taking a toll onTether Tether was one of the first stablecoins that provided shelter to investors against the volatility of crypto markets. But as the coin became popular, the question started being raised on the coin’s credibility and its complete backing by the US dollar. The stablecoin was also connected to it being used for manipulation and rigging the Bitcoin prices, which skyrocketed to USD 20000, in December 2017. It’s been over a year since; the coin has not been able to come up clean on allegations. Recently, Circle, the company behind USDC released their third repo..

Crypto Market Continues To See Green While Vitalik Helps A ETH Dev Team

Note: “This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro. Key Highlights: Markets continue to see green probably due to short covering Tether and ICE back in news to spread some positivity Vitalik helps an Ethereum Dev Team by donating 1000 ETH All Green for cryptos as shorts covers and positive news flow in Well, the greenery continues on the crypto street as we head to the holiday season. Reasons still unknown but in likelihood, it’s the short positions that are covering up due to this sudden spike in markets. Especially after the short squeeze, that was seen on Monday, today’s action is simply a continuation of that. Markets are made of people and it’s likely that most people will be looking to reduce their exposure before the holidays. Over the last few weeks, there have been a lot of high leveraged short positions building up and when those sell positions are closed, it creates upward pressure on market prices. The evidence of this..

Tron’s MainNet Hits New Block Height of 3 Million in Just 109 Days

While a lot of people are still trying to figure out the best crypto project for the future, Tron has given them a reason why it could be the best in years to come. According to the recent announcement, that featured on Tron Foundation’s twitter handle, stated that Tron MainNet has reached a new block height of 3 million blocks Tron scales new block height and that too quickly The tweet put up by Tron foundation also mentioned that the Tron MainNet just took 109 days since its launch to achieve this feat The block height has reached 3,000,000 in 109 days since #TRON mainnet launch. Go #TRON. #TRX $TRX pic.twitter.com/shw7pvZ7pW — TRON Foundation (@Tronfoundation) October 11, 2018 Tron successfully launched its MainNet on May 31 and the process of migrating from the Ethereum network to its own blockchain began on June 21, 2018. The transition culminated on June 25th, 2018 — a date that Justin Sun, the founder of Tron, had dubbed as “Independence Day”. As the MainNet went live and th..

Blockchain Journalism Project Civil to Launch in February Despite Token Sale Flop

Blockchain-based journalism platform Civil will launch, despite the fact that their token sale flopped earlier this year. Blockchain media startup Civil will launch in February, despite the fact their CVL token sale failed earlier this year, according to the company’s blog post published Dec. 19. Civil is a blockchain-based platform for journalism that focuses on building a new media ecosystem with its native CVL token, which will purportedly help participants attain financial sustainability and improve trust in journalism. In today’s post, the company announced it will launch in early February, despite the fact the CVL token sale targeting an $8 million minimum did not succeed earlier this year. According to TechCrunch, Civil raised only $1,435,491 in CVL tokens from 1,012 investors, while an additional 1,738 buyers registered for the sale, but never completed the transaction. Civil is planning to start selling CVL tokens again, but this time without time limits or hard and soft cap..

IBM Patents Blockchain System to Create ‘Trust’ Between AR Game Players, Real World Locations

IBM has applied for a blockchain patent aiming to deter augmented reality game players from intruding on undesirable locations. Major global tech giant IBM has applied for another blockchain patent, this time aiming to deter augmented reality (AR) game players from intruding on undesirable locations. The tech firm’s latest patent document was released by the U.S. Patent and Trademark Office (USPTO) on Thursday, Nov. 1. In the patent, IBM, also known as Big Blue, describes a blockchain-based method and system of interactions between a AR-running mobile device and locational database in order to set and maintain safe boundaries between AR objects and real-world physical locations. According to the document, a distributed ledger is set to continuously maintain a growing list of data records protected from forgery and alterations. Based on a blockchain-powered location database, the “exemplary method” AR-game allows mobile devices to obtain a signal about whether a certain location on AR..

Hong Kong’s Wine Firm Madison Acquires Stake in BitOcean, Captures Japanese Crypto Market

Despite the severe market, Hongkong stock exchange ‘Madison Holdings Group’, GEM board is all set to acquire 67.2 percent of the stake from BitOcean, a Japanese crypto trading platform. BitOcean will take up the stake of Madison Lab for 1.68 billion yen (US$15.12 million) from Independent third party and the US $15 million in various fees. Concerning the matter, Kenneth Leung Kai-Cheong who is a Hong Kong lawmaker said that the firm with an enormous reputation in fine wines industry will be a brand new player in the virtual market. Japan’s Crypto Friendly Nature Attracts Hong Kong Listed Wine Firm According to the South China Morning Post, the decision comes forth following the severe interest of cryptocurrency trading across Japan. Raymond Ting Pang-wan who is the chairman at Madison said that; “Japan represents about 20 percent of bitcoin trading worldwide. Japan and the US are the only two markets that have a licensing system for such trading platforms. We wanted to invest in a pl..

Mining

Ethereum Price Analysis: Ethereum Continues To Play With $200 as Bulls Take a Pause in momentum

Ethereum is trading within a narrow range between $202.82 and $212.80. The bears are currently in control of the momentum within the market according to the RSI. Support levels moving forward; $202, $200, $197, $194, $190, $188, $184, $180, $171. Resistance levels moving forward; $212, $222, $228, $245,$253, $266, $268, $276. Ethereum has seen a small price drop of 0.9% over the past 24 hours of trading. The cryptocurrency dedicated to facilitating decentralized applications is currently exchanging hands at a price of $203.14 after seeing a further 2% price decline over the past 7 trading days. Ethereum is ranked in 2nd position in market cap value across the board with a total market cap value of $20.95 billion. The 39-month-old coin has suffered a drastic 58% price drop over the past 90 trading days and is still trading at a price that is 85% lower than its all-time high value. Let us continue to analyze price action for Ethereum over the short term and update any potential suppor..

China: Shenzhen Special Economic Zone to Use Blockchain for Electronic Tax Invoices

Tencent and the Shenzhen Municipal Taxation Bureau will launch a mobile payment platform for a taxation invoice system based on blockchain. Shenzhen, a major city in the Guangdong Province and the first economic special zone in China, will use blockchain technology for electronic tax invoices. This development was reported by the China Economic Net, а domestic news website focusing on economics, on Dec. 12. The Shenzhen Municipal Taxation Bureau and Chinese tech giant Tencent have “successfully connected the blockchain invoice system with the WeChat payment platform.” The article reports that WeChat, the 1 billion user social media platform operated by Tencent, has opened its payment platform for the blockchain invoice function. According to the director of the Information Center of Shenzhen Taxation Bureau, a blockchain electronic invoice is different from a traditional electronic invoice, as it has “the advantages of ‘distributed’ storage, traceability and non-tamperability.” The a..

Equity Fund CEO Recommends to Steer Clear of Crypto, Advises to Focus on ‘Basic Goods’

The CEO of investment firm Gateway Partners has said investors should avoid Bitcoin and concentrate on traditional investments. The CEO of investment house Gateway Partners, is shunning Bitcoin (BTC) and cryptocurrency in favor of more traditional investment strategies, Asia-focused business publication Nikkei Asian Review reported on Jan. 2. Gateway Partners is an advisory and private equity company managed by Viswanathan Shankar, the former director of Standard Chartered group. Over the course of 2019, the company is reportedly planning to invest its first $757 million fund, and is working on deals in the United Arab Emirates, Saudi Arabia, and Egypt. In a recent interview with Nikkei, Shankar reportedly said that “we are for biscuits, not Bitcoins,” further explaining that his philosophy concentrates on "basic goods and services and the middle class." Last year, Shankar reportedly warned against investing in cryptocurrency along with Argentina and Tesla, saying that they were “sig..

Bitcoin Price Analysis – BTC Breaks Back Below $4000, Speculators Still Searching For Bottom?

Bitcoin has seen another price decline totalling -3.23% over the past 24 hours of trading as price action dips back below the $4000 handle once again, causing panic amongst speculators who continue to wonder how low the bears can take the market. BTC/USD has dropped back below the $4000 handle once again. Critical support is located at $3672. If we break below we could be heading much further lower. Support moving forward; $3855, $3775, $3700, $3672, $3600, $3500, $3424. Resistance moving forward; $3965, $4000, $4084, $4179, $4331, $4500, $4747, $4900, $5000. The cryptocurrency is presently exchanging hands at a price around $3884, at the time of writing, after suffering a considerably terrible month during November 2018 where BTC dropped by a staggering 39% over the past 30 trading days. The number 1 ranked cryptocurrency now holds a total market cap size of $67.46 billion as the 67 month old godfather of cryptocurrency now trades at a value that is 80% lower than the all time high..

Bitcoin Trailblazer Jeff Garzik Says Bitcoin ‘Unquestionably a Success’ as Store of Value

Bitcoin pioneer Jeff Garzik has said that while the coin may not have evolved into currency as he envisioned at the outset, it’s still “unquestionably a success” as a store of value. Bitcoin (BTC) pioneer Jeff Garzik has said that while the leading cryptocurrency may not have evolved into a means of payment as he first envisaged, it is still “unquestionably a success” as a store of value, in an interview with Bloomberg Nov. 9. Speaking soon after Bitcoin’s 10th anniversary, Garzik – reportedly the “third-biggest contributor” to Bitcoin’s code and one of Bitcoin creator Satoshi Nakamoto's key collaborators – told the publication: “It hasn’t evolved in the direction of high-volume payments, which is something we thought about in the very early days: getting merchants to accept Bitcoins. But on the store-of-value side it’s unquestionably a success." Bloomberg cites a recent study from blockchain intelligence firm Chainalysis that suggests Bitcoin’s use as private money in commerc..

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Report: Harvard, Stanford, MIT Endowments All Invest in Crypto Funds

Harvard, MIT and Stanford are reportedly among several prestigious U.S. universities that have made investments into “at least” one cryptocurrency fund. Multiple Ivy League and other prestigious U.S. universities are said to have made investments into “at least” one cryptocurrency fund. The report was published by the technology news site Information Wednesday, Oct. 10. Citing an unnamed source, the Information reported that the multi-billion endowments of Harvard University, Stanford University, Dartmouth College, Massachusetts Institute of Technology (MIT), and the University of North Carolina had all invested capital in the crypto space. This is “a sign of the asset class’ growing acceptance among institutional investors,” the source said. Harvard’s endowment is reported to have hit $39.2 billion during the fiscal year 2018, making it “by far the largest university endowment across the globe.” In the wealthiest U.S. college rankings for the previous fiscal year, both Stanford and ..

Google+ Shut Down due to Data Breach, Could it Boost Brave Browser’s 4.6 Million MAU?

Brave Browser hit another milestone by reaching 4.6 million active monthly users which were 4 million in September beginning. Meanwhile, the search engine giant Google has shut down its Google Plus after the reports of data breach came out that the company neglected to tell anyone. Could this lead to more users for Brave? Brave browser achieves 4.6 million monthly active users (MAU) Just recently, Brave Browser’s co-founder and CEO of Brave, who also co-founded Mozilla and Firefox announced on Twitter that its monthly active users have hit the 4.6 million mark. The open-source web browser has been constantly developing and adding users at a speed as in February this year, the number has been 1.4 million. Just last month, the monthly active users have been 4 million. However, not just users but publishers/creators are also on a constant rise. Early October @Brave stats: 4.6M MAU 28.7K publishers/creators (23.1K verified)https://t.co/FmKzXcH8sz — BrendanEich (@BrendanEich) Octo..

Bitcoin Stable around $6,600, CEO Says a True Global Breakout Driven by FOMO Coming

Bitcoin is maintaining stability with slight movement around $6,600. However, deVere CEO believes an upswing is coming as FOMO will drive the Bitcoin and crypto price higher by this year-end. Bitcoin today: Moves between 6,555 and 6,660 range The world’s leading cryptocurrency is moving but at a much slower speed. At the time of writing, Bitcoin has been sitting at $6,593 while being slightly in the red. According to the Tradingview data, today’s price range of Bitcoin has been between $6,555 and $6,660 which says a lot about its volatility on a given day. Bitcoin 1-day price, Source: TradingView With a market cap of $114 million, Bitcoin has been managing the 24-hour trading volume of about $4 billion which has taken a drop. Moreover, BTC dominance has also fallen down to 51.3% which has reached over 58% in mid-September. However, since then, it is more or less on a constant drop down. BTC Dominance 1-month, Source: Coinmarketcap Also, read: Bitcoin, Ethereum, Ripple Price Analysis..

Eth Price Facing Strong Resistance while Swiss Federal Railway Trials First Digital Identity Pilot on Ethereum

Currently trading at about $208, Ethereum price is not seeing any action while facing stiff resistance at $210. Meanwhile, Swiss Federal railway trials the first digital identity pilot on Ethereum while Co-founder Joe Lubin says, “Ethereum is far in the lead as a viable candidate for web 3.0.” Ethereum Prices Flat At the time of writing, World’s second largest cryptocurrency is trading at $208.93 while in the red by 1.15 percent. The $21.5 billion market cap cryptocurrency is not showing any signs of a trend currently. The price is all flat with no sign of investors looking to sell at the current rate and without any trend, no money is getting in. Source: Coinmarketcap.com Ethereum is facing strong resistance at around $210 and in order to break above ETH/USD has to jump this resistance. In case the prices take a downward shift, the decline can accelerate. First Digital Identity Pilot on public Ethereum testnet Rinkeby Keeping the price aside, Ethereum is making headway when it com..

Why Bitcoin Gold Got Delisted From Bittrex

The Bittrex exchange will delist BTG by Sept. 14. Crypto exchange Bittrex is set to delist Bitcoin Gold (BTG), a hard fork of Bitcoin (BTC), by Sept.14, after details of an $18 million hack of the BTG network in May emerged this week. How unexpected was this announcement coming from the exchange, and what are the chances for BTG now that it has found itself in the midst of yet another scandal? “One CPU one vote” ideology: How Bitcoin Gold was createdBitcoin Gold (BTG) is a hard fork of Bitcoin (BTC). It splintered off the original blockchain on Oct. 24 2017, at a block height 491,407. The project was first announced in July 2017 on Bitcointalk.org, when Jack Liao, CEO of LightingAsic and BitExchange, revealed that he was looking for a way to change Bitcoin’s proof-of-work (PoW) algorithm from the SHA256 algorithm to Equihash. “Given the dysfunctional current reality of the Bitcoin mining sector,” as the BTG’s roadmap reads, Liao and his team wanted to create a digital currency that w..

Bitcoin SegWit Transactions Hit 50% for the First Time

After a steady growth for the past year, SegWit now comprises half of the total Bitcoin transactions. Just recently, Coinbase, crypto hardware wallet KeepKey, and another crypto wallet BRD enabled support for SegWit protocol. SegWit now comprises half of the total Bitcoin transactions According to the data from Transactionfee.info, SegWit has crossed 50 percent mark for the first time after going through constant uprise in its adoption. First proposed in late 2015 by Pieter Wuille, Segregated Witness (SegWit) has been a controversial upgrade that improves the transaction capacity of the Bitcoin network by reducing the size of bitcoin transactions and thus reducing fees for users. Slow on the uptake, SegWit has been on a gradual ascent. A couple of days back, it took a jump from just 42 percent to about 53 percent. However, the next day it went down to 45 percent yet again as shown in the chart below. The faster and cheaper Bitcoin transactions enabler, SegWit protocol saw a good sp..

Bitcoin Price Analysis: BTC/USD Approaching Bullish Break?

Bitcoin price traded higher and broke the $6,360 resistance against the US Dollar. BTC/USD is currently testing the next breakout resistance near $6,460. Important Points: Bitcoin price gained momentum recently and broke the $6,360 and $6,375 resistances. BTC/USD tested a major bearish trend line with resistance at $6,460 on the 2-hours chart. BTC price must the trend line, $6,475 and the 100 simple moving average (2-hours) to gain traction. Bitcoin Price Analysis After a sharp drop, bitcoin price found support near the $6,245 level against the US Dollar. BTC/USD started a decent upward move and traded above the $6,300, $6,360 and $6,375 resistance levels. The 2-hours chart indicates that the price found a solid buying interest near the $6,245 level, resulting in a sharp upside reaction. The price rallied above $6,360 and broke the 50% Fib retracement level of the last decline from the $6,600 high to $6,244 low. Chart sourced by TradingView, Bitstamp The price also settled above t..

India: Media Reports Central Bank Has Postponed ‘Crypto-Rupee’ Plans

A source reported that the Indian central bank thinks it is too early to develop or implement a central bank digital currency. The Reserve Bank of India (RBI) is pausing its plans to release a digital currency, Indian business news outlet the Hindu Business Line reported on Jan. 1. India’s central bank had originally announced its intentions to consider a central bank digital currency (CBDC) in April of this year, at the time noting the establishment of an interdepartmental group to look into potential advantages and feasibility. In August, RBI confirmed the creation of the group, specifying that it was researching a CBDC that would be backed the rupee for reasons including the cost of printing paper and the rising popularity of using digital tokens. Now, amid confusion over the group’s exact findings, which remain a mystery, Delhi has apparently had a change of heart. “The government doesn’t want the digital currency any more. It thinks it is too early to even think about a digital ..

XRP v/s ETH: XRP Dethrones Ethereum From Second Position Again Amid Market Meltdown

XRP amid a market collapse regained the second spot by dethroning rival Ethereum. Although at press time, prices of all major cryptocurrencies including XRP is still descending but positioning of XRP on the second position in crypto ranking reflects the confidence towards XRP as a better hedging asset beside bitcoin. Key Takeaways XRP dethrone Ethereum for the second place Tether regained its 8th position from TRON Bitcoin lost almost 10 percent over the last 24hrs At press time, XRP emerged on the top second spot with the total market cap $13,487,363,105. Notably, the major trading contributes by Upbit, ZB.com, Binance, ZBG, OKEx and other cryptocurrency exchanges. Source: https://coinmarketcap.com/ XRP gains trading volume – Tether Turns Green After a strong rise to the start of 2019, Bitcoin sunk again below $3600, down almost 10 percent during last 24hrs. This sudden fall has eventually dragged the other cryptocurrencies to the red grounds of the market. According to the data ..