Bitcoin and Ethereum recover but gains are limited

Bitcoin price tested the key USD 6,450 support area and later recovered. BTC/USD moved higher and traded above the USD 6,500 resistance, but gains were limited. Similarly, ethereum price recovered after dropping below the USD 200 support. It could continue to move higher in the short term towards the USD 208 and USD 210 resistances. Ripple performed well as it traded above the USD 0.450 and USD 0.460 resistance levels. Overall, the market sentiment slightly improved, but bitcoin is still trading well below the USD 6,550 and USD 6,600 barriers.

Bitcoin price
There was a downside spike towards the USD 6,450 support in bitcoin price . BTC/USD found a strong buying interest near USD 6,450 and later started an upward move. It traded up by more than USD 50 and broke the USD 6,500 resistance. On the upside, an initial resistance is at USD 6,520, followed by USD 6,550.
On the downside, the price could decline towards the USD 6,480 level if it fails to hold the USD 6,500 support. Any further losses may perhaps push the price back towards the USD 6,450 support area.

Ethereum price
Ethereum price slowly recovered and broke the USD 205 resistance. However, ETH/USD failed to gain momentum above USD 205 and the pair is currently consolidating near USD 204.
On the downside, an initial support is near the USD 202 level, followed by the key USD 200 support. To the topside, the price has to break the USD 208 and USD 210 levels to stage a decent rebound.

Bitcoin cash and ripple price
Bitcoin cash price remained in a range below the USD 450 resistance. BCH/USD seems to be facing a tough barrier around the USD 450 – USD 460 zone. On the downside, the USD 440 level is a decent support, below which the price may drop towards the USD 425 level.
Ripple price gained momentum recently and traded up by around 2.8%. XRP/USD broke the USD 0.450 and USD 0.460 resistance levels to climb back into the positive zone.

Other altcoins market today
A few altcoins gained between 8%-20% today, including MAGO, GVT, DROP, BCD, REP, NEXO, BTG and SC. Out of these, MGO gained around 17% and GVT traded up roughly 15.5%.
Overall, bitcoin price bounced back after testing the USD 6,450 support. However, the price has to surpass the USD 6,550 and USD 6,600 resistance levels to start a solid upward move. Until then, BTC/USD and ETH/USD may well continue to trade in a range. On the flip side, a downside break below USD 6,400 could open the gates for more declines in the near term.


Source
Author: Aayush Jindal
Image Credit

“Bitcoin Cash Jesus” Plans Own Crypto Exchange

Roger Ver, a controversial supporter of the Bitcoin Cash (BCH) cryptocurrency, plans to develop his own crypto exchange.

It would be an integrated part of the Bitcoin Cash-oriented website and wallet he joined in 2016 – Bitcoin.com – a website which has long faced criticism from the Bitcoin community for misleading new investors into buying BCH instead of Bitcoin (BTC).
His early advocacy for bitcoin earned him the moniker of Bitcoin Jesus, but now he’s the most prominent Bitcoin Cash evangelist.

The early bitcoin investor said during an interview with media in Malta on Tuesday that he is now considering whether to find a partner to create the exchange, or to “build one internally.”

“If we build it ourselves, we can do it really, really cheap, and we get exactly what we want, but we don’t have the security of a battle-tested exchange that’s been around for a while,” Ver said about his plans, while adding that the exchange “will be posted on Bitcoin.com, so we’ll have thousands or tens of thousands of new users every single day.”
Bitcoin Cash would reportedly serve as the base currency of the proposed exchange. However, few other details are known about the new initiative.

Only time will tell whether Ver’s prediction that the success of the new exchange would be guaranteed by the popularity of his domain holds true. What is certain, however, is that Bitcoin.com’s popularity has plummeted this year.


Source
Author: Fredrik Vold
Image Credit

Crypto Mining Giant Bitmain Acquires Bitcoin Cash Wallet

Open source browser-based cryptocurrency wallet Telescope has officially announced its acquisition by Bitmain Technologies Inc., the world’s largest crypto mining rig manufacturer, which also runs one of the world’s most extensive cryptocurrency mining pools. The move comes at an important time for Bitmain, which is increasing its involvement in the bitcoin cash space as it continues to reinvent itself as more than just an ASIC maker ahead of its planned mega-IPO in Hong Kong.

Telescope is a browser-embedded cryptocurrency wallet that currently allows users of Google Chrome and Mozilla Firefox to send and receive BCH through a browser extension. Set up earlier in 2018 by former IBM software engineer Aaron Angert, Telescope also offers support for BitPay and MoneyButton. While it is currently optimized for Chrome and Firefox, the plan is for the application to eventually offer full support for other leading browsers as the project grows.

Telescope transaction keys are saved in the application’s browser extension, and then transactions are signed by the user’s browser directly and sent to a BCH block explorer. Cross-browser private keys are encrypted via the blockchain, guaranteeing safe storage of user funds, just like standalone cryptocurrency wallets.

Speaking about Bitmain’s acquisition of Telescope, the company’s Lead Developer Aaron Angert said:

“I am extremely proud of what Telescope has been able to achieve so far and am excited for its future with the additional help and support of Bitmain. We are honored to be a part of the bitcoin cash community, as a vibrant collection of individuals contributing towards the development of blockchain technology and the cryptocurrency industry.”

Also reacting, Nishant Sharma, Head of International PR and Communications at Bitmain said:

“We are extremely proud of Telescope wallet and the simple but key innovation that the project brings to the bitcoin cash eco-system. Browser-embedded cryptocurrency wallets are a promising technology. The Telescope development team is doing some very interesting work and we look forward to working together with them on the Telescope project and future bitcoin cash projects.”

In August, CCN reported that Bitmain is sitting on bitcoin cash reserves worth nearly $600 million, or more than 5 percent of all the 17.3 million BCH in existence. The acquisition of Telescope comes as Bitmain’s latest bet on bitcoin cash after the company threw its weight behind the faction that turned into BCH during the bitterly-contested bitcoin fork in 2017.


Source
Author: David Hundeyin
Image Credit

Cardano (ADA) nearing to aim $0.1 USD, As market has another Stellar performance!

Cardano (ADA) was not doing much enough in the last week as its price dropped to $0.06 USD but by the end of week it gained a bit of momentum. The market on Thursaday, 27th September opened with most of the cryptocurrencies advancing towards a high flight. Major coins are having a better week than last one, as they witness a bullish run in last 24 hours.

Cardano started of the day with $0.079 USD, at the time of writing, ADA was trading at a price of $0.080 rising at the rate of 3.64%, having a market cap of $2.097 billion USD. Yesterday, an increase in the volume was seen as compared to last week which went up to $64 million USD. It has a volume of almost $60million USD, at the moment. Binance Exchange, one of the biggest cryptocurrency trading exchange network, ADA had a trade volume of $19.5 million USD in last 24 hours. However, Cardano (ADA) situation on Tuesday was quite different and it was dropping at the rate of 9%, it has been a good turn around for Cardano.

Weiss Ratings suggested that Cardano (ADA) will have the highest pullback along with other altcoins including IOTA, XRP and NEO. Well their prediction was right on the spot as, IOTA has surged up to 1.11%, NEO has also gained about 3% and XRP has been the stand out gaining up to 10% in last 24 hours (at the time of writing). Weiss Ratings tweeted:
“If you believe #crypto market will return to its former glory, the benchmark for a 10X gain, is a 90% retracement. As of today, here are a few of top-25 coins that are at or above a 90% pullback: #IOTA = 90%#NEO = 91%#XRP = 93%#ADA = 96%
These are absolute steals right now!”

According to some experts, Cardano (ADA) can move up to $1 USD, increasing by almost four times from know, but this can take a while. This shows that their is a lot of bullishness regarding ADA. Cardano enthusiasts on twitter are showing their happy as they think this is the time to buy more Cardano coins. This shows that ADA will surge more in next 48 hour time.

Charles Hoskinson, owner of Cardano (ADA) is in Japan to celebrate the one year anniversary of Cardano. In a video message, he stated that they are going launch ‘Infinito Wallet’ i.e a mobile wallet. It now supports users to securely send, receive, and check transaction history of ADA on mobile. Infinito Wallet is the first mobile wallet to support ADA.

Infinito Wallet is the world’s most common home to many big tokens on biggest smart contract platforms including BTC, BCH, LTC, DASH, ETC, ETH, EOS, NEO and DOGE. After adding ADA, Infinito Wallet has achieved yet another incredible milestone. It will boost up the price and increase the adoption of Cardano.

Some more news are to come from Cardano community, as Charles further stated that he will meet some dealers during his stay in Japan, Tokyo. So we can hope some big news from Cardano in next few days and it will really help ADA to surge more. So this is the best time to buy Cardano, as it will bring much more profit in coming days.


Source
Author: MaxPositives
Image Credit

Bitcoin Cash Can Scale Exponentially and Support the Global Economy

For well over a year now the Bitcoin Cash (BCH) protocol has shown quite a bit of capability as far as on-chain scaling is concerned. The creator of Bitcoin knew that the technology had to expand in scale quite vastly in order to accept the magnitude of global commerce and businesses on the blockchain. In the early days, Satoshi told people that the technology would follow alongside Moore’s Law with high-performance computing, and the past year has shown the BCH chain can scale to fulfill the needs of the global economy.

Even Before Satoshi Nakamoto Launched the Bitcoin Network, the creator knew blockchain technology could scale

For a while now there’s been a lot of confusion and purposeful manipulation spread by people who have said that Satoshi Nakamoto’s creation cannot scale. Since August 1, 2017, the Bitcoin Cash chain has consistently performed despite all the naysayers. In fact, like the rise in merchant adoption, the Bitcoin Cash protocol itself has recorded many scaling milestones this year. The size of the blockchain and block propagation speed has always been some of the excuses people like to use when they object to on-chain scaling. However, on November 2, 2008, Satoshi wrote about the growth of the chain and believed the technology would not only rely heavily on the Simplified Payment Verification model, but also follow right alongside Moore’s Law.

“Visa processed 37 billion transactions in FY2008, or an average of 100 million transactions per day,” Nakamoto emphasized

That many transactions would take 100GB of bandwidth, or the size of 12 DVD or 2 HD quality movies, or about $18 worth of bandwidth at current prices. If the network were to get that big, it would take several years, and by then, sending 2 HD movies over the internet would probably not seem like a big deal.

Society Now Has 7nm Semiconductors, New Phones That Can Process 5 Trillion Operations a Second, and 14TB Storage Drives for Only a Few Hundred Dollars

Gordon Moore the founder of Intel had a very good observation back in 1975 that has been fairly accurate when it comes to society’s technological advancements. Gordon’s original prediction started in 1965 when he said the number of transistors added to an integrated circuit would double every twelve months. But in 1975 he changed his forecast to the component cost of a semiconductor doubling every two years. Moore’s Law has been very accurate and many businesses and individuals base the speed and growth of computational scaling using his observation. Moreover, Moore’s law shows a fairly accurate assessment of not only how our technology is blooming but also how the BCH protocol itself can expand global scaling and maintain protocol affordability.

However, blockchain storage has been used a primary excuse to stall scaling in the past even though semiconductor technology is improving vastly, central processing units and ram continues to grow more affordable, and storage space has been following the same path. One could even attribute the mining of cryptocurrencies towards the improvement of semiconductors. Moore’s law is still alive and well and it may be a hair behind the observation’s timeline of increased performance every two years, but it is still growing at an exponential rate.

Apple’s new A12 7nm chip can process 5 trillion operations per second proving our computer devices continue to be faster with each new development.

We can see this proof with 10nm and 7nm chips that are making their way into our computational lives. 45 years ago Intel’s first microprocessor could only process 90,000 operations per second, but now the latest A12 Bionic 7nm chip for the new iPhones can process 5 trillion operations per second. Small mobile devices we keep in our pockets show how fast technology is growing while laptops, and other types of computers are no different. This means there is absolutely no reason to slow down scaling efforts, because of Moore’s Law and its theoretical limitations. That’s like saying we should toss in the towel in because future quantum computers could ‘maybe’ crack Bitcoin’s elliptic curve cryptography.

Another fallacy individuals like to use is block propagation delay or latency issues. This is the amount of time it takes for computer networks like the Bitcoin protocol to propagate blocks. However, latency is a really easy fix for any computer network by making adjustments to both the software and hardware specifications. The argument may apply to non-mining nodes using 56K modems, but with concepts like Fiber optical cables latency is really a non-issue.

Miners the ones who truly depend on speed, and propagation time will scale linearly with the world’s fastest connections. Further ideas like bloom filters and Graphene are just a few examples of how scaling past latency can be dealt with easily going forward. Graphene is just one example of how block propagation bloat can be solved and there are many other ideas.

The BCH Unspent Output Set Size is More Efficient Than BTC’s Set Size Today and Can be Improved Easily

To add to this excuse, another horrible reason people fight against on-chain scaling is because of so-called ‘uncontrollable’ UTXO set size growth. Individuals think the data from the unspent output (UTXOs) from bitcoin transactions could cause the UTXO set size to grow exponentially too large. However, BCH proponents are not worried about UTXO bloat as the UTXO set could easily be sharded, and right now the Bitcoin Cash protocol is consolidating unspent outputs in a more efficient fashion than the BTC network. This can be seen by quickly observing the UTXO set for BTC in comparison to the BCH set. Fortunately for BCH developers, there are more efficient methods of UTXO selection and there are plenty of concepts to test and determine which process works best.

The Bitcoin Cash Chain Is Proving on-Chain Scaling Can Work, While Other Blockchains Depend Heavily on the Concept of a New Network That Could Be Riddled With Security Vulnerabilities and Centralization

All of the theoretical limitations of blockchain scaling can be solved, and some of us know — Things do not get solved by doing nothing. Both Moore’s Law and Nielsen’s Law of internet bandwidth are still growing and there’s no need to think it’s going to stop any time soon. Low-latency fiber-optical cables and other ideas are improving global bandwidth speeds drastically. Semiconductors are faster than ever before and terabytes of hard drive space are super affordable compared to ten years ago. The Bitcoin Cash chain has also proven that hard forks are safe and the block size can be increased easily. The community can now see in real-time and on mainnet when miners process big blocks what needs to be done to fix mempool bottleneck and other software issues.

With the data provided by Moore’s observation, Nielsen’s Law, new improvements in network latency, our perspective of current software and hardware limits, and the recent large blocks mined, shows the Bitcoin Cash community that the protocol can scale easily. We know Satoshi Nakamoto’s technology works, and it’s not very intelligent nor conservative to push people towards a second layer that’s not even close to being as secure as the original proof-of-work model.

For close to a decade now we know that Nakamoto consensus is very secure. Bitcoin Cash proponents plan to keep the security layer pure and scale the protocol so it can sustain the global economy. Processing 2.2M transactions in one day at a rate of 26 transactions per second within multiple large blocks (23MB block) mined shows true performance. While at the same time the network has managed to keep BCH network’s transaction fees around $0.001 per transaction. The past 13 months of Bitcoin Cash upgrades and stress tests are merely the baby steps towards massive on-chain scaling.


Source
Author: Jamie Redman
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Bitcoin Cash, Litecoin and Ripple Daily Analysis – 02/09/18

Bitcoin Cash makes a move to leave the majors in its wake, in what’s been a testy start to the day following Saturday’s rally.

Peoples TokenBitcoin Cash Hits $600

Bitcoin Cash rallied by 14.1% on Saturday, following Friday’s 0.61% gain, to end the day at $618.9.

Bitcoin Cash steered clear of the day’s first major support level at $534.03, with a start of a day intraday low $541.2, as a broad based market rally kicked in, with Bitcoin Cash breaking through the day’s first major resistance level at $549.13 and the second major resistance level at $556.37 to a late morning high $572.

An early afternoon move saw Bitcoin Cash break through the day’s third major resistance level at $571.47 to an intraday high $633.3 before easing back, Bitcoin Cash hitting $600 levels for the first time since 18th August.

At the time of writing, Bitcoin Cash was 5.51% to $653, with Bitcoin Cash managing to recover from a start of a day dip to a morning low $603, breaking through the day’s first major resistance level a $654.4 with a morning high $656.

For the day ahead, holding above the day’s first major resistance level at $654.4 would support a continued run that would bring the day’s second major resistance level at $689.9 into play, the crypto bulls eyeing $700 levels, though we can expect some profit taking before the weekend is out, with investors wary of possible negative news hitting the wires at the start of the week.

Failure to hold above $654.4 through the morning could see Bitcoin Cash take a hit later in the day, though we would expect sub-$600 support levels to be left untested, barring materially negative news hitting the wires.

{alt}Litecoin Steadies

Litecoin gained 6.95% on Saturday, following on from Friday’s 3.1% rise, to end the day at $66.45, its highest close since 7th August.

Tracking the broader market, Litecoin moved from a start of a day intraday low $62.12 to a morning high $64.87, breaking through the day’s first major resistance level at $63.44 and second major resistance level at $64.74, with day’s first major support level at $60.19 left untested.

An early afternoon breakout saw Litecoin hit the day’s third major resistance level at $67.99, with an intraday high $67.96, before easing back in the final hours.

TIPAt the time of writing, Litecoin was down 0.26% to $66.30, with Litecoin sliding to an early morning low $64.52 before finding support, the day’s first major support level at $63.06 left untested early on.

For the day ahead, a move through a start of a day morning high $66.47 would support a run at $67 levels to bring the day’s first major resistance level at $68.9 into play, with Litecoin needing to hold on to $66 levels through the morning to support second half of a day rally.

Failure to hold on to $66 levels could see Litecoin slide back through $65.5 to bring the sub-$65 levels and the day’s first major support level at $63.06 into play. Holding above $65.5 through the early afternoon would be key to Litecoin avoiding a reversal of Saturday’s gains.

{alt}Ripple Makes a Splash

Ripple’s XRP gained 3.59% on Saturday, following Friday’s 0.09% rise, to end the day at $0.34703.

Bucking the trend across the broader market, Ripple’s XRP had a choppy morning, moving through the day’s first major resistance level at $0.3417 to a morning high $0.34406 before pulling back to $0.33 levels.

Tracking the broader market through the afternoon, Ripple’s XRP broke back through the first major resistance level and the second major resistance level at $0.3483 to an intraday high $0.354 before pulling back to $0.34 levels in the final part of the day.

At the time of writing, Ripple’s XRP was down 0.77% to $0.34455, with Ripple’s XRP sliding to a start of a day morning low $0.3377 before recovering, the morning low holding above the day’s first major support level at $0.3365.

For the day ahead, a move through $0.3453 would support a run at a start of a day morning high $0.34721 to bring $0.35 levels and the day’s first major resistance level at $0.3558 into play, a reversal of the morning’s slide providing the crypto bulls with some hope of a second half of a day recovery, while some profit taking off the back of 2-consecutive days of gains may limit the upside later in the day.

Failure to move through and hold above $0.3453 could see Ripple’s XRP pullback through the morning low $0.3377 later in the day, with the day’s first major support level at $0.3365 and sub-$0.33 levels in play should the broader market fail to track Bitcoin Cash into positive territory.

{alt}


IZXHere at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Source
Author Bob Mason
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AVATARA

Bitcoin Cash, Litecoin and Ripple Daily Analysis – 12/08/18

It’s a relatively positive start to the morning. Holding on to key levels will be material for direction later in the day, the bears waiting in the wings.

LIONBITBitcoin Cash Finds Support Early

Bitcoin Cash fell by 1.07% on Saturday, following on from Friday’s 6.33% slide, to end the day at $563.8.

An early morning slide saw Bitcoin Cash fall through the day’s first major support level at $545.93 to an intraday low and new swing lo $536, before recovering to $550 levels, a late in the day rally seeing Bitcoin Cash hit an intraday high $583.1, the day’s high falling short of the first major resistance level at $602.93.

At the time of writing, Bitcoin Cash was up 1.38% to $570.5, recovering from an early dip to a morning low $553.9, with move through to an early morning $577.9 high before easing back, the early moves leaving the major support and resistance levels untested.

For the day ahead, a move back through to $577.9 levels would support another run at the day’s first major resistance level at $581.3, with any improved sentiment across the broader market likely to bring the day’s second major resistance level at $598.8 into play, though it’s going to need to be quite a rally for Bitcoin Cash to take a run at $600 levels.

Failure to hold above $565 levels through the early morning and move back through the early high to $580 levels could see Bitcoin Cash cough up early gains, with a pullback through the morning low $553.9 bringing the first major support level at $548.1 into play, sub-$540 support levels unlikely to be tested in the event of a sell-off.

{alt}

TIPLitecoin Looking for $60 Levels

Litecoin fell by 1.73% on Saturday, following Friday’s 6.25% slide, to end the day ate $58.11.

Tracking the broader market, Litecoin slipped through the first major support level at $57.04 to an early intraday low and new swing lo $55.13, before a late afternoon recovery led Litecoin to an intraday high $60.3.

Litecoin fell short of the day’s first major resistance level at $62.3, with resistance at $60 leaving Litecoin back at sub-$60 levels by the day’s end, the extended bearish trend firmly intact.

At the time of writing, Litecoin was up 2.65%, a weekend rally in full swing in the early hours.

Recovering from a start of a day $57.35 low, Litecoin rallied to an early morning $59.99 high before easing back, Litecoin facing plenty of resistance at $60 and the day’s first major resistance level at $60.58.

For the day ahead, a move back through to $58 levels would support another run at $60 levels, though there’s going to need to be a strong rally across the broader market for Litecoin to break out from the day’s first major resistance level at $60.58 to avoid a sub-$60 level end to the weekend.

Failure to beak back through to $58 levels could see Litecoin pullback through the morning low $57.45 to bring the day’s first major support level at $55.39 into play, the downward trend on intraday lows expected to continue should the markets reverse later in the day.

{alt}

Ripple Back into the $0.30s

Ripple’s XRP slumped by 6.49% on Saturday, following a 7.22% tumble Friday, to end the day at $0.29748.

A bearish start to the day saw Ripple’s XRP slide through the first major support level at $0.3040 to an early afternoon intraday low and new swing lo $0.28737 before recovering back through to $0.30 levels, Ripple’s XRP finding support at the day’s second major support level at $0.2887.

Negative sentiment across the broader market ultimately weighed, with Ripple’s XRP pulling back to sub-$0.30 levels by the day’s end, with the moves in the last week seeing Ripple’s XRP go full circle to pre-December 2017 rally levels.

At the time of writing, Ripple’s XRP was up 1.51% to $0.30301, with Ripple’s XRP recovering from a start of a day dip to a morning low $0.2938 to a morning high $0.30652 before easing back.

Moves through the early part of the day left major support and resistance levels untested, while Ripple’s XRP was able to hold on to $0.30 levels in the early hours.

For the day ahead, a hold above $0.3023 through the morning would support a run at $0.31 levels to bring the first major resistance level at $0.3172 into play, while we would expect some profit taking to pin back any breakout from $0.3172 to bring $0.33 levels and the second major resistance level at $0.3368 into play.

Failure to hold on to $0.3023 and take a run at $0.31 levels could see Ripple’s XRP pullback through the early morning low $0.2939 to bring the first major support level at $0.2826 into play, with a broad market sell-off likely to see Ripple’s XRP at $0.27 levels before any recovery.

{alt}


WMPROHere at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

Source
Author Bob Mason
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DD Telegram

Bitcoin Holds Gains, Altcoins Decline

  • Bitcoin price is holding gains and is preparing for the next move.
  • Ethereum declined sharply and traded towards the USD 450 support.
  • Zencash and kin gained more than 10% today.


    Bitcoin remained well supported during the past three sessions with mostly ranging moves. BTC/USD is moving north and it seems like it could make another attempt to break the USD 7,550 and USD 7,600 resistances. On the other hand, there was an increase in selling pressure on altcoins like ethereum, ripple, EOS, litecoin. Going forward, there could be a recovery in altcoins if bitcoin continues to move higher.

    Bitcoin
    Bitcoin price traded a few points lower, but it was supported near the USD 7,300 and USD 7,350 support levels. BTC/USD is currently trading above the USD 7,400 level (UTC 08:30 AM) with an immediate resistance at USD 7,550. A break above this could accelerate gains above USD 7,600 and the 100-day simple moving average.
    The next hurdle for buyers above USD 7,600 is near USD 8,000. On the downside, supports are waiting near USD 7,300 and USD 7,250.

    Ethereum
    Ethereum price tumbled recently below the USD 475 support. The decline was such that the ETH/USD pair almost tested the USD 450 support. The price is currently down around 2.2% with an immediate resistance at USD 475.

    Above USD 475, the price may test the next resistances at USD 490 and USD 500. On the downside, the USD 450 support holds a lot importance in the near term.

    Bitcoin Cash and Ripple
    Bitcoin cash price consolidated near the USD 800 support. It seems like BCH/USD is struggling to gain traction above the USD 840 resistance, which may perhaps result in a bearish reaction. Supports are at USD 780 and USD 760.

    Ripple price was one of the worst performers as it declined below the USD 0.48 level. It is down more than 4% and is currently approaching the USD 0.45 support area. Resistance are at USD 0.475 and USD 0.480.

    Other Altcoins Market Today
    Most small cap altcoins corrected lower during the past few hours, including EOS, stellar, litecoin, cardano, IOTA, TRON and dash. A few other coins like zencash and kin managed to gain momentum and traded up by 12% and 11% respectively.

    Overall, bitcoin price remains elevated and it could accelerate above the USD 7,550 and USD 7,600 resistance levels as long as it is above USD 7,250. If BTC/USD climbs higher, it may possibly help altcoins in a decent recovery.



    Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

    Source
    Author: Aayush Jindal
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BIG 5 (BTC, ETH, XRP, LTC, BCH) Listed On LMAX Exchange: $10 Trillion In Fiat Traded to Date

Join in the fun and play on the world’s First Hybrid on-line Casino with BTC and Fiat currency payments. Check on-line for latest promotions

The Big 5 cryptocurrencies received a major boost on the 21st of May, when London based LMAX Exchange announced it will start offering on its exchange, the most liquid and established cryptocurrencies of Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and Bitcoin Cash (BCH). Crypto trading on the exchange is now a 24 hour operation, 7 days a week, all year long. Trading will be governed by similar rules and principles as LMAX Exchange’s FCA regulated MTF (Multilateral Trading Facility).

Of noteworthy mentioning is that the LMAX exchange has already handled over $10 Trillion in FIAT trading since inception and has institutional clients in over 100 countries. The institutional clients are what makes this announcement exciting for any crypto trader.

These are the so called ‘top dogs’ of trading: The big shot ‘Wall street’ firms and top banks around the globe.

The announcement by LMAX had this to say through their CEO, David Mercer, with respect to institutional investors:

“The rise of institutional trading of crypto currencies will be a game-changer for the industry. We believe our new exchange will support the transformation of the crypto market from the fringes to the mainstream. Digital currencies are, without a doubt, coming of age. Exchanges will play a crucial role in bringing the major crypto currencies into wider circulation, helping them to become accepted into conventional funds which in turn will help to support a normalisation of value.”

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The exchange has been improved to offer secure trading in this current crypto industry where hacks are possible. One cannot fail to mention the recent hack of the Verge (XVG) blockchain by rogue miners who wanted to mint XVG from thin air. Also to remember is the Coincheck hack that relieved of the exchanges some $500 Million worth of NEM (XEM) at one go. Therefore, security is of importance for the exchange.

The announcement by LMAX comes at a welcome time when the crypto-markets have been having a hard time maintaining good volumes. We have seen the total market capitalization touch $400 Billion only to drop to $330 Billion in a matter of a few days. The figure now stands at $338 Billion with many hoping that the news that South Korean regulators will ease their stance when it comes to crypto trading in the country, will boost the volumes once again.

We are all aware that the amount of trading and crypto ownership by South Korean residents was pretty high in early January before regulation kicked in and left the markets in chaos. This news could catalyse a return of previous good times in the crypto-verse.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author John P. Njui 
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Bitcoin Cash: What Fuels its Growth in April?

  • Bitcoin Cash has gained more than 120% since early April.
  • The upcoming hard fork likely responsible for most of the gains.

Bitcoin Cash has been getting a lot of attention again recently. The Bitcoin spin-off that came into existence as a result of a hard fork on the Bitcoin blockchain in August 2017 has now gained more than 120% since it bottomed out in early April.
When measured against the original Bitcoin, the gain has been 66% in a market where Bitcoin has also rallied strongly against the US dollar.


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Antpool Burning Bitcoin Cash
One reason behind the recent price surge in Bitcoin Cash could be a recent announcement from a mining giant Antpool. The mining pool announced in a tweet on April 20 that they would start burning 12% of the transaction fees they receive in an effort to reduce the supply, and thus boost the price, of Bitcoin Cash. Antpool has also invited other miners to start burning 12% of the transaction fees collected.

A key question for investors in this regard is how much of a reduction in supply 12% of Antpool’s transaction fees really constitutes. Some members of the crypto community have simply called it propaganda on the part of Antpool in order to artificially boost prices, while accusing Antpool of acting like a central bank that regulates money supply in pursuit of its own self-interest.

Regardless of that, however, the news has now made its way around the Internet and it may have lead to at least a perception of increased scarcity in the BCH market, which is always good for the price.

Hard Fork Effect
In addition to the announcement from Antpool, the Bitcoin Cash price has likely been benefiting from market expectations to an upcoming hard fork on the network.
The hard fork, which is scheduled for May 15, will increase Bitcoin Cash’s block size from today’s 8 megabytes to 32 megabytes, significantly increasing the number of transactions that the network can handle. However, the largest average block on the Bitcoin Cash’s blockchain in a few past weeks was only 162 kilobytes, according to bitinfocharts.com data. In comparison, it was almost 900 kilobytes in case of the Bitcoin’s blockchain.
Cryptocurrency prices have a tendency to rise in anticipation of hard forks, which is what we are seeing this time as well. When Bitcoin Cash was forked off of Bitcoin last year, Bitcoin prices rose by an average of 10% across exchanges in the two days leading up to the event.

“Potentially Overbought”
Despite these positive developments for the price of Bitcoin Cash, it is not obvious that the price will continue the strong gains from here.
Cryptocurrency veteran and Head of Research at Fundstrat Global Advisors, Tom Lee, said during an appearance on CNBC on April 25 that he would prefer to put “fresh money” into Bitcoin rather than into “something that is potentially overbought” at the moment, referring the strong gains we have seen recently in Bitcoin Cash.
Interestingly, when asked who he believes will come out as the winner in the battle between the two currencies, Lee said that he “prefers not to pick winners and losers” and that “I think both have merits.”

BCH community shifting its focus
While the original goal for the members of the Bitcoin Cash community was “the flippening,” meaning to overtake Bitcoin in terms of price, popularity, and number of users, the focus now seems to be shifting to fill another niche in the market for cryptocurrencies: Everyday payments.
Among other things, this is evident from the integration of Bitcoin Cash into the commercial payment processor BitPay’s platform, a huge step forward in achieving real user and merchant adoption of the currency.

In addition to being potentially overbought at the moment, a clearly defined objective and purpose for the digital currency, other than attempting to dethrone Bitcoin, may mean that growth in the future will become more muted, and prices less volatile, than what we have seen over the past few weeks.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Fredrik Vold
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