Bitcoin Price Analysis: Riding the BTC/USD Wave Higher

Bitcoin is establishing its uptrend in an ascending channel after breaking past the previously highlighted reversal pattern’s neckline. This confirms that a longer-term climb may be underway after a quick pullback.

Price is currently hitting resistance at the top of its ascending channel, so profit-taking among buyers may be in the works. At the same time, stochastic is indicating overbought conditions and starting to turn south, so bitcoin might follow suit.

Applying the Fibonacci retracement tool on the latest swing low and high shows that the 50% level lines up with the channel support around $7900-8000. The lowest 78.6% Fib is closer to an area of interest or former resistance at $7200.

The 100 SMA is crossing above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. In other words, the uptrend is just about to gain traction from here. These moving averages are also close to the channel support to add to its strength as a floor.

Continuing with the positive developments in the industry, including recent acquisitions and plans by big hedge funds to invest in the space, it has been reported that a company filed a claim against the Reserve Bank of India to challenge its decision to end dealings with cryptocurrencies.

Sentiment in the industry has considerably improved as risk appetite returned to the financial markets in the previous week. The tendency for bitcoin to end up with strong gains for the second quarter of the year has also drawn more buyers in. The end of the tax season has also likely led to reopening of investors’ positions.

The bullish momentum could keep gaining traction from here as more and more reports discuss the return of the bull market in the cryptocurrency arena.

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As Value Rises, Bitpay Adds Bitcoin Cash Support

The support that Bitcoin Cash seems to be getting recently looks like an unending tale as the altcoin receives support from Bitpay. The latest support ushered by the Georgia based digital asset service provider will now permit dealers to receive BCH for payment through its Pos app.

With the recent update from Bitpay on its Checkout point-of-sale (Pos) mobile app which supports bitcoin cash (BCH), buyers can go into retail store and make payment by generating payment codes with their mobile sets.

While buyers pay with their mobile sets, Checkout allows retailers to also receive payment with their mobile device and store their earning with cryptocurrency in more than 150 currencies.

Checkout features are designed to suite businesses which includes multi-employee checkout, simple tip reporting, optional on-screen tipping, and matching of order IDs inputted from other point-of-sale system.

Years before, the digital asset has been supporting BTC, but its latest support announcement featured BCH, stating that the cryptocurrency will be applied to its Visa card invoice loads.

The development came due to the lasting request from Bitcoin cash fans that an option for settlement of deals in the BCH is added. The addition will now grant Bitpay’s merchants the ability to receive their earnings in BCH and not only in BTC and USD as previously known.

Albeit the latest addition is featuring BCH-improved services, not all businesses who use Bitpay will have access to the development as the company earlier released its Terms of Use,  banning explicit sale of sexual content (porn), ammunitions and restricted goods like drugs, among others.

Bitcoin Cash Value Rise In The Recent Market Comeback.

Toeing with the recent market comeback which features most altcoins value rise, BCH rose unexpectedly among its contemporaries. In the last few days, BCH has proved to be the altcoin to invest in with a pacing value rise which seems like it is heading for the zenith.

While the last seven days of the altcoin’s price was topped with 59.4%, it present day price rose over its 30 days back value with 23.1% and within 24hrs, the altcoin had added 9.6%.

BCH is undoubtedly moving northward with no obstacle impeding its ways.

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NEO, EOS, Litecoin, IOTA and Stellar: Technical Analysis April 23, 2018

Undoubtedly, besides IOTA which is gaining due to Hannover Messe events, most coins like NEO, Litecoin, Stellar Lumens and EOS are stagnant and trading within narrow ranges. They are actually retesting the middle BB and should bears overcome support, we anticipate corrections especially in NEO and Litecoin trading pairs.

Let’s have a look at these charts:

XLM/USD (Stellar Lumens)

Recent development is that you can now manage your XLM wallet from Stellar’s DEX. This means you can keep control of your wallet all courtesy of the distribution that DEX rides on. Besides this, prices are tepid and in the past 24 hours, Stellar Lumens is up 2.37 percent.

Technically and from our Stellar Lumens technical analysis, prices are moving horizontally. Following the double bar bear reversal pattern in the daily chart, there is a likelihood of bears pushing prices lower according to our previous price forecast. So, unless prices breach 40 cents in the coming session, I recommend short term selling with immediate targets at 30 cents or whenever a stochastic buy signal prints.


More and more companies are joining the IOTA band wagon and for good reasons. In the future where everything is denominated by interconnection, IOTA shall be king. That’s not because of the strong foundation they are laying but because the Tangle has demonstrated that it solves scalability. So, whenever we see two presidents in an industrial fair where IOTA team members and affiliates are making presentations, then there are positives to be taken out of it.

From the chart, buyers are in the driving seat and fading our previous recommendation. Now that prices are at $2, I urge patience until after there is a stochastic buy signal in the 4HR chart or when prices are trending above yesterday’s highs of $2.15. Before then, early buyers can move their stops to break even and wait for their initial bull targets at $3 to be hit.


It’s no doubt that EOS was a top performer last week and despite everything else-development, shills and FUD, odds are this coin shall correct in the coming days. Well, I mean, prices remain pretty much stuck within a two dollar range within the last 24 hours as EOS buyers find resistance at $12.

I will still hold on to my previous suggestion and wait for a stochastic buy signal to print before loading. In my view, buying on dips shall be a good strategy if you plan on ramping up before EOSIO launch in June 2018. Ideal buying zones lies at $8 on the lower side and $9.5 or the recent support as visible in the 4HR chart.

LTC/USD (Litecoin)

Of all the coins under our focus, Litecoin gains are modest to say the least. In the last 24 hours, it is up two percent helping push its weekly gains to 15 percent and in the process amassing $8.45 Billion in market cap. As we have seen in recent weeks, the Litecoin Foundation and Charlie Lee have been on the forefront pitching Litecoin as a suitable coin for merchants and the response has been good. Several merchants and payment providers are now using the coin and this is good for investors as it draws demand and improves liquidity.

When it comes to prices though, price action is trending within a bullish break out and $140. That was our buy trigger. However,  at the moment, prices might slow down and even retest that previous resistance now support if prices break below $145 or the middle BB in the 4HR chart. If that happens buyers should load up on these dips especially if there is a stochastic buy signal printing in our entry chart.


Judging from recent announcement, NEO is relentless on their effort to create a smart economy. On April 22, NEX said that their next Smart Economy Expo will be held at the EU parliament where Dang Hong Fei and other high ranking officials from NEO familiar shall deliver their key notes in a closed session to parliamentarians only. According to reports, the main purpose of this session is to help educate regulators n the benefits of blockchain technology and why they should develop support policy by 2022.

From price action, NEO is still oscillating within April 21 bear candlestick. As it is, chances are prices might break below the 20 period MA as the 4HR shows now that stochastics are bearish and we have a bearish diverging pattern. Unless prices break past April 20 highs of $80, I’m net bearish and project prices to reverse anywhere between $65 and $70.

The post NEO, EOS, Litecoin, IOTA and Stellar: Technical Analysis April 23, 2018 appeared first on NewsBTC.

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Crypto Ads Ban Is Temporary, According To LinkedIn’s Co-Founder

LinkedIn’s co-founder Eric Ly on his new project, reputation system in everyday communications, social media, and crypto ads bans.

Cointelegraph had a chance to talk to Eric Ly, Chinese-American investor and businessman and co-founder of LinkedIn, where for years he also served as founding CTO.

In the beginning of his career Eric held technical positions at prominent companies such as Steve Job’s NeXT, IBM or General Magic, before co-founding LinkedIn with his Stanford classmate and other colleagues in 2002. There, among other things, Eric was responsible for developing software integrations with software such as web browsers and Microsoft Outlook. Eric left LinkedIn in 2006 to develop his own projects.

Now Eric is launching a reputation system around the initial coin offering (ICO) ecosystem that aims to help people make trustful decisions while buying and selling something.

We talked about Eric’s new project, the role of reputation for everyday communications, social media, and cryptocurrency development.

On the recent crypto ads bans by social networks and Internet giants like Facebook, Google, Twitter

I believe that these kind of platforms are conservative protective approach for themselves. Recently, the Securities and Exchange Commission (SEC) has been asking a lot of questions and subpoenas for information from people and companies. I believe that is a protective measure from a lot of these companies to not engage in new form of not advertising, but activities by ICOs, they probably want to avoid potentially uncertain interactions with SEC.

But I do believe that this is a temporary period because like many domains, advertising has an incentive to support as many domains as possible. So when regulatory clears itself up, I believe there will come a time again when advertising of this nature around token sales will be re-permitted on these platforms.

On protective measures against scams and other motivations behind these bans

This is the only one that I can think of because back in the early 2000s there was this Digital Millennium Copyright Act, which allowed all of the online platforms to disassociate themselves from the responsibility of the content that their users would put onto their platforms. So that is very key act made it possible for web 2.0 to really flourish. Advertising really should be covered under that regardless of whatever domain is advertising.

But I do believe that the ban is fundamentally around just kind of a conservative protective measure that these platforms have to not have to be entangled with the answering the SEC’s potentially interesting questions, which they don’t have to deal with.

On cryptocurrency related ads on LinkedIn

I don’t believe LinkedIn has yet made a decision, you know, like the other social platforms, and it remains to be seen whether they will go in that direction. I wouldn’t be surprised if they made a similar decision based on similar reasons. But at this point we’re just conjecturing what the reason might be.

Eric Ly left LinkedIn in 2006, founded an event app platform in 2007, and now is developing a sophisticated project for the crypto community. He is CEO and founder of a Blockchain based trust protocol Hub.

Hub protocol in a glance

I have many simplified versions – I am trying to pick the best one. Hub is trying to put reputation on the Blockchain. What we believe is that trust and reputation are really valuable to people and right now they’re all locked up in centralized databases. What we’re trying to do is basically put that information onto a Blockchain so that people can control that information, so they can bring it from one marketplace or a community to another and really derive the economic benefits from it. We believe that in the coming years, billions of people around the world are going to be creating trustworthy relationships with each other using a Blockchain.

It’s sort of like a meta social network if you will. Our project is building a protocol. It’s underlying many different kinds of applications, both new and existing. So we’re not necessarily building one social network. We’re trying to enable a trust layer that can work across many different social networks and many different marketplaces, so that people can use their reputation across multiple of these networks or communities.

We have the initial protocol implemented and nearly ready for release – and we’re working on finishing the first proof-of-concept on the protocol, which will be a reputation system around the ICO ecosystem. We figured that was a great place to start and, you know, it provides a really great opportunity for us to kind of showcase the value of the protocol itself.

On sharing information in everyday interactions

We definitely see a lot of use cases around buying and selling and that exists across many different industries and different domains. We believe that transactions actually start with just interactions: people interacting with each other and basically sharing information and engaging with each other in conversations. There also needs to be an element of trust and reputation as well.

How do you know that the information that you are reading or somebody that you’re interacting with is a trustworthy source? We want to solve that problem as well. Because that is really the basis on which people make sometimes very important decisions about what they’re going to buy, what they’re going to sell.

So the whole process starts much sooner than just a transaction itself. So that’s what we want to cover the interaction part of it.

On tokens in a trust establishment

Tokens are really designed to incentivize trustworthy interactions and the building of reputation data on the Blockchain, which hopefully further creates trustworthy interactions. One of the design goals that we had for our token was that it is impossible to buy trust. We really wanted to design that in – you cannot buy the tokens and have more trust.

So what the tokens allow you to do is staking mechanism for various kinds of interactions that people might have – we define interactions very broadly. But you can imagine a buyer-seller scenario or a people sharing information with each other. Across all of this – the idea is that people can stake tokens on the interaction. It’s almost like a bond that says I’m going to act in a trustworthy way in this interaction. If I do that and the other parties agree, I’m going to get those tokens back, I’m going to get my bond back and I’m going to get rewarded with some additional tokens that I can take for some future interactions. But if things don’t go well, then the tokens that I have staked, might be at risk and might be given to somebody else who sort of lost out on a certain transaction, for example. So, that’s how the token works.

How to measure reputation

The important point is that you cannot buy your reputation. Otherwise, the whole purpose of the reputation system is defeated. So the way that we measure reputation is really on all of those granular interactions that are happening with the staking going on. So we remember, on the Blockchain, all the different interactions and transaction builds up a reputation history. That could be scored by different kinds of scoring systems.

So imagine a FICO score in the US that is designed for credit worthiness. Now we can have scores across multiple domains, even beyond credits and worthiness, where reputation and trustworthiness make a difference.

How this whole idea should work

One of our favorite scenarios is a kind of a service marketplace, where maybe somebody is a designer and they’re offering website design services, and then there’s a client who wants to find the right designer to build up their website. So, we can capture this transaction in a smart contract that records the participants and most importantly – it records the outcome. At the beginning of this transaction, both sides stake their tokens and say: we’re going to act in a trustworthy way. For the consultant, this means: “I’m going to do a good job, I’m going to successfully deliver the design”. For the client, this means: “I’m going to pay for that once I believe that this is a good outcome”.

So the participants will go through the process and the project, and they’ll come up with the results of the design. If everything goes well – both participants act in a trustworthy way. Somebody delivered, somebody paid – and they both get their tokens back, and a little bit more from the reward function that’s built into the protocol. When things do not go well – there’s a dispute and in this case it’s maybe not clear which side was correct: maybe the design was delivered correctly but the client just wasn’t happy for some reason. 

On disputes

So we have a mechanism where disputes can be handled by an arbitrator which can basically decide and is a trusted source for both parties to figure out who was right. In the arbitrator might, actually, have reputation himself or herself in the protocol. So however it gets decided: whether it’s the vendor, the consultant or the client – they get the tokens that have been staked on this transaction. There’s one party that basically loses out on that token.

There is basically an incentive that’s built into the overall process to incentivize people to act in a trustworthy way. Again, the reputation comes out of the history of that interaction and the outcome, and that it actually goes on to both the consultant and the client in terms of how they interacted. So, in the case of the consultant, if they do a lot of great projects then they build up a really great reputation for themselves – that maybe can reflect very effectively for them and get them new projects in a marketplace.

On losing tokens in a dispute

Maybe people might not always be able to perform perfectly, and that’s fine. The scoring algorithms and so forth will consider those situations and make sure that people have a fair chance to improve the reputation over time if in some cases they did not do it perfectly. So, we believe in designing a fair system that works in a fair and maybe even slightly generous way for people.

It is a professional network but it is falls into the broad category of a social network.

This interview was conducted at the Global Blockchain Forum, in Santa Clara, US, by Cointelegraph news editor, Olivia Capozzalo, in collaboration with Cointelegraph managing editor Lucrezia Cornèr.

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VeChain Foundation Announces Partnership with INPI Asia: Nanotech Digital Identity Solutions

According to a post on Medium, VeChain Foundation has declared that it is partnering up with INPI Asia – firm that provides advancements and improvements when it comes to digital identification by utilizing combinations of nanotech.

VeChain Foundation is the responsibility taker when it comes to turning on the radar and finding pathways on how the VeChainThor platform can reach higher capabilities. That is through [as described in the post] approaching best product and solution makers.

When appropriately used, INIPI ASIA can disrupt the current dynamic of the RFID/NFC/QR Code dominant market.

“NDCode – [the solution provided by INIPI Asia] adds to the Internet of Things market by:

  1. Adding nano identification to products enabling a new world of connected “THINGS ”
  2. Enabling a security level with photonic property
  3. Bringing a truly endless life cycle to digital identification
  4. Opens untapped scalability potential and cost efficiency”


Using the VeChainThor Blockchain platform, the layers of security and value verification added by INPI ASIA and VeChain can by verified for their history and origin while not being able to be altered.  In addition fraudulent changes and movements can be detected using the VeChainThor blockchain.

“This solution enables maintenance of public auditing while preserving privacy as well as promotes transparency for public users on behalf of enterprises and government bodies.”

For the time being, VeChain [VEN] is trading at $3.95 with 2.99% gain in the last 24-hours and leading the Bitcoin market by 1.15% on April 22.

The post VeChain Foundation Announces Partnership with INPI Asia: Nanotech Digital Identity Solutions appeared first on Ethereum World News.

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Trade Group Asks U.S SEC Not to Classify Ethereum as a Security

As the U.S SEC works to classify and regulate cryptocurrencies, ICOs, and related businesses proponents are arguing their case for softer regulation for Ethereum.

The Venture Capital Working Group consists of lawyers and representatives from venture capital companies Andreessen Horowitz and Union Square Ventures. The group met with officials at the U.S Securities and Exchange Commission (SEC) on March 28th, 2018, to discuss initial coin offering (ICO) tokens, but its since been revealed the group put forward a specific case for the classification of Ethereum.

According to reports, the venture capital group made a plea for the agency to provide “safe harbour” to certain cryptocurrencies. It argued that Ethereum “has become so decentralized that it should not be deemed a security.”

Under U.S law Ethereum does have many of the characteristics of a security, however the group’s proposal argued that tokens should not be considered securities if the network behind them achieves “full functionality” or full decentralization. Full decentralization occurs when a token creator no longer controls the network.

Andreessen Horowitz and Union Square Ventures are heavily invested in cryptocurrencies. Andreessen backs a number of ICOs and the exchange Coinbase. Union Square Ventures holds stakes in Protocol Labs and cryptocurrency hedge fund Polychain Capital. Both firms also contributed to a recent round of funding for the CryptoKitties ICO.

Using their combined influence via the Venture Capital Working Group the two companies asked the SEC to classify more ICOs as utility tokens rather than securities, or investments.

SEC Chairman Jay Clayton believes that most ICO tokens are securities and that ICO issuers should comply with significant regulatory restrictions. Clayton gave an example of the difference between utility tokens and those that should be securities in a recent speech:

“For example, a token that represents a participation interest in a book-of-the-month club may not implicate our securities laws, and may well be an efficient way for the club’s operators to fund the future acquisition of books and facilitate the distribution of those books to token holders. In contrast, many token offerings appear to have gone beyond this construct and are more analogous to interests in a yet-to-be-built publishing house with the authors, books and distribution networks all to come.”

Reports state that the arguments failed to sway the SEC and it’s as yet unclear as to whether the SEC will continue to classify Ethereum as a security, based on its origins from an ICO, or whether it will view Ethereum based on its current characteristics.

The post Trade Group Asks U.S SEC Not to Classify Ethereum as a Security appeared first on Ethereum World News.

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Genesis London Conference: Study Shows Ethereum is More Decentralized Than Bitcoin

At the Genesis London blockchain conference held in February by Binary District, Cornell professor, cryptocurrency expert, and computer scientist Emin Gün Sirer said in an interview that a study done by prestigious university Cornell has shown the Ethereum blockchain network is currently more decentralized than bitcoin. Ever since the debut of Ethereum in 2015, false

The post Genesis London Conference: Study Shows Ethereum is More Decentralized Than Bitcoin appeared first on CCN

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The Case For Bitcoin Cash (BCH) Is Still Strong

Bitcoin Cash (BCH) was forked from the Bitcoin blockchain on August 1st, 2017 and has since shown some promise in the markets. This was after the network congestion on the Bitcoin network had reached frustrating levels with some taking upto 4 days to complete. The added fees needed to complete BTC transactions were ridiculously reaching $28 in some cases.

Since hitting the crypto-markets, BCH has rallied twice. The first time, BCH did amazingly well in less than 24 hours. This was on November 12th when it reached levels of $2,426 from previous day levels of $950: an increment of 155% after which its value settled around the $1,000 mark.

Another amazing rallly of BCH was on December 20th when it was added on Coinbase. On that day, it peaked to levels of $4,400 from $1,800 levels less than three days earlier. This time round, BCH did 144% in gains. This event was then marred by controversy about insider trading at Coinbase leading to BCH fading away in terms of ‘buzz’ in the crypto-verse.

Recent value of the coin before the April 12th market surge, put BCH at approximately $650. It has since risen to current levels of $1,195 at the moment of writing this and almost doubling in value in less than two weeks.

So why is BCH still strong in the Markets?

Firstly, more and more miners are embracing BCH for it is proving to be more profitable as it becomes popular in the markets. BCH is now available in 276 exchanges but still 124 less than those that offer Bitcoin.

Another reason why BCH is more profitable to mine, is the software upgrade that happened in May 2018. This is the first in a chain of scheduled upgrades that were announced late in 2017 by several developer groups that are keen to push for BCH as an alternative to BTC. The current upgrades allow for on-chain scalability by adjusting the blocksize limit with an increased default of 8MB. Also, new transaction signatures together with a new difficulty adjustment algorithm, provide added security for the coin.

In conclusion, Bitcoin Cash (BCH) could be headed to greater heights in the markets as the project continues to evolve and adoption continues to increase. Another driving force for the coin, is the passionate believers of its capability found within the BCH community.

The post The Case For Bitcoin Cash (BCH) Is Still Strong appeared first on Ethereum World News.

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Bitcoin Brushes $9,000 As Crypto Markets Continue Making Steady Gains

Crypto markets experience more growth as BTC hovers near $9,000, having broken the psychological price point already once today

Bitcoin (BTC) is on the cusp of $9,000, and Ethereum (ETH) is over $630, as the crypto markets continue to climb upwards today, April 22, according to data from Coin360.


BTC is currently trading at around $8,977, having broken $9,000 earlier today, up almost 2 percent over a 24 hour period to press time. According to CoinMarketCap, BTC dominance is around 38.4 percent, down from a monthly high around 44 percent.

Bitcoin Charts

ETH is up over 5 percent over a 24 hour period, trading at around $637 at press time, a level it last hit on March 14.

Ethereum Charts

Of the top ten coins on CoinMarketCap – which are all in the green today – Bitcoin Cash (BCH) and IOTA are up the most, up 9 and 10 percent on the day, respectively. BCH is trading for around $1,240, and IOTA around $2.08 at press time.

The total market capitalization of all cryptocurrencies is nearing $400 bln, currently around $397 bln as of press time. The last time total market cap reached this price point was in early March.

Total Market Capitalization

This weekend has seen some potentially good news for crypto regulation. In India, a crypto company has filed a claim against the Reserve Bank of India (RBI) for their earlier decision to end dealings with crypto-related entities, claiming the ban is unconstitutional. RBI has until May 24 to respond to a notice, then reportedly issued by the High Court of Delhi.

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Crypto-Friendly CheapAir Asks Customers For Feedback On Switch Away From Coinbase

CEO of CheapAir, which has accepted BTC since 2013 for flight and hotel bookings, asks customers for advice on a considered switch from Coinbase to BitPay.

The CEO of US-based flight aggregator CheapAir has published an open letter to customers on April 20, asking for opinions on a merchant solution switch to BitPay over crypto wallet and exchange service Coinbase.

CEO Jeff Klee wrote in the letter that has accepted Bitcoin (BTC) for flight and hotel bookings since 2013. According to the CEO, Coinbase’s recent notification that they will suspend “custodial” solutions for merchants will make accepting BTC more difficult.

In response to the upcoming Coinbase changes, Klee suggests that the company implement a “reliable processing partner” to begin accepting Bitcoin Cash (BCH), Dash, and Litecoin (LTC), in addition to Bitcoin.

Klee brings up BitPay – whose merchant solution currently accepts only Bitcoin and Bitcoin Cash – as an alternative to Coinbase in his letter, citing that they have “had a great experience with them so far and our integration is largely complete.” However, Klee adds that since BitPay requires particular protocol-compliant wallets, he doesn’t want to inconvenience customers that have a different type:

“We understand what Bitpay is trying to accomplish. The issues they are trying to address – delayed or incorrect payments – are real and were especially rampant back in December and January when transaction volumes spiked. On the other hand, I am not keen on the idea of asking our customers to, in many cases, do more work or change wallets just to be able to transact with us.”

In his letter, Klee asks CheapAir’s crypto customers for feedback on the issue, suggesting they reach out on Twitter, leave comments below the letter, or email his personally with their suggestions and reactions to a possible BitPay switch.

Litecoin founder Charlie Lee commented on CheapAir’s tweet of the letter, suggesting merchant services company AliantPayment, which accepts Bitcoin, Ethereum (ETH), and Litecoin.

Coinbase’s decision to retire its Coinbase Merchant Tools in favor of Coinbase Commerce also led Reddit to reportedly remove Bitcoin as a payment option for its Reddit Gold premium membership program. May 31, 2018 is the final date for merchants to make the switch to Coinbase Commerce.

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