That bitcoin (BTC) has likely found a bottom around $6,000 is now generally accepted, so the challenge for investors and traders is to spot the early signs of a long-awaited bullish reversal. Basic technical theory suggests that a bearish-to-bullish trend change is confirmed after the price invalidates a “lower highs” pattern – a series of descending peaks. As such, bitcoin needs to rise above the September high of $7,400 to confirm a major bullish breakout. That would mean the number one cryptocurrency by market cap needs to rally close to…
Day: November 6, 2018
XRP Nears 50 Cents as Price Rises to One-Month Highs
The price of XRP, the world’s third-largest cryptocurrency by market capitalization, jumped 6 percent on Monday, to reach its highest total in 30 days, according to CoinDesk data. At 15:01 UTC, the cryptocurrency rose to $0.49 cents for the first time since Oct. 8, and was last seen trading at $0.4950, marking roughly a 6.14 percent increase since the day’s open. At press time, XRP is the biggest winner among the top 10 cryptocurrencies by market capitalization, reporting a seven-day gain of 11.13 percent, according to data from CoinMarketCap. XRP’s market…
China’s Central Bank Slams Blockchain Investment ‘Bubble’
Twitter Facebook LinkedIn China’s central bank has called on the government to strengthen supervision into ‘speculative’ financing and investments in the blockchain sector. The Research Bureau of the People’s Bank of China, the country’s central bank, published a working paper titled ‘What can a blockchain do and cannot do?’ on Tuesday. An early analysis of the working paper by CCN China can reveal that the central bank’s research arm is studying the impact of blockchain and various projects aimed at commercializing the decentralized tech in society. Pointedly, the central bank…
Could Bitcoin Cash Price Surge Any Further after Weekend Rally?
Ahead of its hard fork, Bitcoin Cash surged as high as 29 percent during the weekend trading session. All the eyes are now on whether the altcoin can swell any further, especially when it promises to offer holders free tokens after its blockchain splits. Trading Sentiment around Coin Forks Traders tend to behave bullishly whenever a forking event is nearby. To them, a fork signifies free coins on the top of what they already hold. For instance, when the main Bitcoin blockchain forked and conceived Bitcoin Cash, the same chain,…
Bitcoin Price Watch: BTC/USD Could Resume Uptrend Above $6,440
Key Points Bitcoin price corrected lower recently after trading as high as $6,472 against the US Dollar. There is a major bullish trend line in place with support at $6,390 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is positioned for the next wave, which could be above the $6,420 resistance. Bitcoin price is trading in a positive zone against the US Dollar. BTC/USD could continue to move higher as long as it is above $6,375 support level. Bitcoin Price Analysis Yesterday, bitcoin price…
Potential Factors Behind its Rally
Twitter Facebook LinkedIn XRP, the native cryptocurrency of the Ripple network, has surged by more than 12 percent over the last 24 hours. Cryptocurrency traders and technical analysts generally expect the positive price movement of XRP to continue in the short-term, given the sheer magnitude of the asset’s recent upward run. What Has Caused Ripple to Rally? Throughout the past week, Ripple has seen some progress in regards to the adoption and integration of its blockchain-based liquidity products. At the Global Islamic Economic Summit 2018, Ripple’s global head of infrastructure…
Announcing the Coinbase Suite of Institutional Products
Introducing Coinbase Markets Coinbase already offers the deepest pool of liquidity to the largest number of participants in the cryptocurrency space. We intend to continue developing this electronic marketplace, known as Coinbase Markets, by opening a new engineering office in Chicago and cementing Coinbase as the leading cryptocurrency exchange. Coinbase Markets provides a centralized pool of liquidity for all Coinbase products. Over the course of the year Coinbase Markets will introduce new features like low latency performance, on-premise datacenter colocation services, institutional connectivity and access, and settlement and clearing services. These…
Announcing the GDAX Digital Asset Framework – The Coinbase Blog
We are excited to release the GDAX Digital Asset Framework. We believe the number of digital currencies and tokens will continue growing and contribute to creating an open financial system. To support this growth, GDAX will add assets which align with this framework and promote our mission of creating an open financial system for the world. The digital asset ecosystem has experienced significant growth over the last year. Since January 1, 2017, the total market capitalization of all digital assets has increased nearly 10x to reach a current valuation of…
Adding Ethereum ERC20 Support to GDAX – The Coinbase Blog
We’re pleased to announce our intention to support the Ethereum ERC20 standard on GDAX. This prepares GDAX to support trading of ERC20 assets, although we are not announcing support for any specific asset at this time. As detailed in our process for adding new assets, we are announcing this decision internally and to the public at the same time. What is the ERC20 standard? ERC20 is a technical standard used for Ethereum smart contracts. ERC20 assets have become a popular way for teams to quickly build interoperable contracts with a…
Crypto Exchange BTCC Is Closing Its Mining Pool Business
Hong Kong-based cryptocurrency exchange BTCC is shutting down its mining pool business, BTCC Pool Limited, after four years in operation. Citing the reason for the closure as “business adjustments,” BTCC Pool said Tuesday that it will shut down all mining servers on Nov. 15 and will cease operations indefinitely from Nov. 30. The firm has now asked all member miners to switch their hashing power away from the pool before Nov. 15., adding that it will release previously earned mining profits “in time.” The pool was launched in 2014 as one of…