Day: November 9, 2018

Price Rejects Bulls as Downside Correction Extends

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Twitter Facebook LinkedIn Bitcoin on Friday suffered a circa 1 percent loss against the US Dollar owing to an extended bearish correction. The BTC/USD pair is now trading at 6340-fiat, 2.70 percent down from the November’s top at 6516-fiat. The 100-period simple moving average resistance discussed in our previous analysis has fared strongly for the fourth time. The strong pullback action from that level could undoubtedly allow the price to form downside targets towards 6203-fiat, vital support in the medium-term. SOURCE: TRADINGVIEW.COM A breakout action above 100-period SMA puts sights…

Fraudulent South Korean Exchange Pure Bit Nabs $2.8M in ICO Exit Scam

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A South Korean ICO has defrauded its private sale investors out of roughly 13,500 ETH ($2.8 million) before disappearing from the internet entirely. Pure Bit, which has already pulled the plug on its website, has apparently conducted a fairly routine exit scam for its Pure Coin token sale. The cryptocurrency was pitched as an exchange token for Pure Bit, an exchange that was supposed to launch by the end of the month. The Coin  promised to give investors shares of the exchange’s trading revenue as well as discounted fees for trading,…

Amazon and ConsenSys-Built Kaleido Launches Full-Stack Marketplace

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Blockchain software-as-a-service (SAS) project Kaleido has launched a marketplace to provide its users with a “full-stack enterprise platform.” Their “Blockchain Business Cloud” now features a “new marketplace [of] trusted tools and services from Kaleido, AWS, and members of the new partnership program, all offered as plug-and-play.” The suite of services will feature oracles, wallet and ID services, supply chain tools and even legal contract software. According to a company statement, “Clients now have access to native AWS integrations, popular services such as HD wallets for privacy and ID registries for…

Ethereum Token BAT Crashes Nearly 20% after Coinbase.com Listing

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Twitter Facebook LinkedIn Ethereum token BAT rode the “Coinbase bounce” to a four-month high, but on Friday the cryptocurrency’s price fell back toward earth with a resounding thud. Ethereum Token BAT Leads Market Pullback The crypto market as a whole traded down heading into the weekend, with valuations collectively dropping by $6 billion over a 48-hour period. However, no large- or mid-cap cryptocurrency was hit as hard as Basic Attention Token (BAT), the native asset of Brave‘s digital advertising ecosystem. BAT, which runs on Ethereum as an ERC-20 token, fell…

For Bitfinex Users, Dollar Withdrawals Are Now a Weeks-Long Struggle

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Three weeks after being assured that everything was running smoothly, some customers of cryptocurrency exchange Bitfinex are wondering why they still can’t withdraw their money. On Oct. 15, the cryptocurrency exchange published an announcement saying, “all cryptocurrency and fiat withdrawals are, and have been, processing as usual without the slightest interference.” It continued, for emphasis, “all fiat (USD, GBP, JPY, EUR) withdrawals are processing, and have been, as usual.” This communication came on the heels of an announcement the previous week, in which the exchange responded to what it called “online…

$6 Billion Wiped Out of Crypto Market in 48 Hours: Where to Next?

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Twitter Facebook LinkedIn Over the last 48 hours, since November 7, the global crypto market has lost $6 billion of its valuation as it dropped from $220 billion to $214 billion, while Bitcoin remained stable. On November 6, major cryptocurrencies including Bitcoin Cash (BCH), Ripple (XRP), Ethereum (ETH), Stellar (XLM), and Cardano (ADA) recorded large gains in the range of 5 to 30 percent, as BCH surged by around 40 percent within a two-day span. Subsequent to demonstrating a significant increase in value, most major cryptocurrencies retraced, which was expected…

Bitcoin Price Eyes $6.2K Amid Further Drop into Bear Territory

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Bitcoin’s (BTC) reversal of the recent uptrend in prices is gathering pace and a drop into a bearish territory below $6,200 is now a possibility, technical charts indicate. The leading cryptocurrency found acceptance below the lower edge of the rising channel yesterday, invalidating the bullish price action witnessed earlier this week. Essentially, the rally from the Oct. 31 low of $6,201 has ended at a high of $6,540 reached on Nov. 7. At press time, BTC is trading at $6,350 on Coinbase, having clocked a five-day low of $6,335 soon…

Cities in China are Using Blockchain to Track Parolees

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Twitter Facebook LinkedIn At least two Chinese cities are using blockchain technology to track offenders on parole, CCN has learned. In the city of Foshan, a report from May indicates that officials would like to deck their system out with bracelets similar to those issued in western countries. In the city of Zhongshan, which is in the same province as Foshan (Guangdong), the system will reportedly transcend boundaries previously in place for community corrections officials, such as when data regarding parolees was available to them. Both cities are essentially using…