Bitcoin Price Falls to $7,800 as Cryptocurrency Market Drops $27 Billion Overnight

Join our community of 10 000 traders on Hacked.com for just $39 per month. On yesterday’s report, CCN emphasized that if the bitcoin price falls below the $8,200 resistance level once again, a reentry into the $7,000 region is inevitable. Over the past 24 hours, the bitcoin price dropped by around 4 percent from $8,300 to $7,850. Bitcoin Price Trend As CCN previously reported, the recent correction of the cryptocurrency market can be attributed to three major factors: Mt. Gox sell-off in early May, Bitfinex taxation policy, and scandal involving…

Read More

Major Banks Pilot Successful Thailand-Singapore Blockchain Remittance

Join our community of 10 000 traders on Hacked.com for just $39 per month. A joint effort by major banks in south-east Asia has led to a successful blockchain-powered cross-border funds transfer in real-time from Thailand to Singapore. In an announcement on Tuesday, Thailand’s Bank of Ayudhya – commonly referred to as Krungsri – revealed a successful pilot test involving an international remittance from a domestic bank account to a Standard Chartered account in Singapore using its own blockchain, dubbed the Krungsri Blockchain Ledger. The endeavor involved major Japanese multinational…

Read More

Bitcoin Closing on Long-Term Bear Indicator Not Seen Since 2014

Following bitcoin’s recent losses, a key long-term trend indicator is looking increasingly bearish. Notably, the five-month moving average (MA) has rolled over in favor of the bears and looks set to cut the 10-month MA from above, signaling a bearish crossover for the first time since June 2014. If that occurs it could be a worrying signal for the long-term price outlook. Back then, following an identical crossover in June 2014, the cryptocurrency subsequently dropped by 70 percent (from $580 to $166) in the seven months leading up to January…

Read More

Bitcoin Price Watch: BTC/USD Breakdown Looks like Real Deal

Key Points Bitcoin price failed to hold the $8,240 support and declined sharply against the US Dollar. There is a major bearish trend line formed with resistance at $8,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair may well correct higher in the short term towards the $8,100 and $8,160 resistance levels. Bitcoin price broke key supports near $8,200 against the US Dollar. BTC/USD may continue to face selling interest near $8,100 and $8,200. Bitcoin Price Analysis Yesterday, we discussed about a major support…

Read More

Singapore Proposes Regulatory Boost for Decentralized Exchanges

The Monetary Authority of Singapore (MAS), the city-state’s de facto central bank, is proposing changes to existing regulations that would ease market entry for blockchain-based and decentralized exchanges. According to a consultation paper published on Tuesday, MAS states that the current single-tier “recognized market operators” (RMO) regulatory framework is not able to meet demand for new business models based on such emerging technologies. To address the issue, the authority proposes to introduce a three-tier structure in an attempt to ease market access for small-scale exchange platforms. “MAS has observed the emergence…

Read More

Cardano Price Analysis: ADA/USD Upsides Remain Limited

Key Highlights ADA price declined recently and broke a key support at $0.2300 against the US Dollar (tethered). There was a break below an important bullish trend line with support at $0.2450 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair traded towards the $0.2100 level and it seems like it could revisit the $0.2000 zone. Cardano price tumbled recently against the US Dollar and Bitcoin. ADA/USD could correct higher, but upsides may be capped by the $0.2300 and $0.2400 levels. Cardano Price Analysis There…

Read More

Huobi Pro Launches New Crypto Market Index

Cryptocurrency exchange Huobi Pro is launching a new market index for its customers, the company announced Wednesday. The Huobi main force index will track 10 different digital assets traded against tether (USDT), a dollar-pegged cryptocurrency, on its platform in real time, according to a press release. The index will “reflect the overall performance of Huobi Pro market,” allowing investors to see a single aggregated feed rather than having to check on individual assets one at a time. The index will use weighted samples, according to the press release, which explained…

Read More

Ripple Price Analysis: XRP/USD Broke Significant Support

Key Highlights Ripple price failed to hold a major support area near $0.6500 and declined against the US dollar. There is a crucial bearish trend line forming with resistance at $0.6450 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair may correct higher, but the broken support at $0.6500 is likely to act as a hurdle. Ripple price declined further against the US Dollar and Bitcoin. XRP/USD is now well below $0.6500 and is eyeing more losses in the near term. Ripple Price Bearish Bias…

Read More

Bitcoin Price Falls to 35-Day Low Below $8K

Bitcoin’s price has slipped below $8,000 to hit a 35-day low. Just an hour after the May 23 trading session began, data from CoinDesk’s Bitcoin Price Index shows the price of the world’s largest cryptocurrency started to fall, dropping to its lowest point since April 18. After steadily climbing up to nearly $10,000 on May 6, bitcoin’s price has been on a gradual decline since then towards a current low at $7,876, reflecting a 20 percent drop over the past two weeks. The price has bounced back slightly to $7,910…

Read More

Walmart Files Patent for Blockchain-based Digital Marketplace

Join our community of 10 000 traders on Hacked.com for just $39 per month. A recently released filing by the U.S. Patent and Trademark Office (USPTO) outlines a blockchain-based framework that Walmart has envisioned as part of its efforts to expand its digital services for retail shoppers. Walmart’s Blockchain Push Filed in 2017 and granted on May 17, 2018, the document is an example of Walmart’s push to embrace digital technologies for augmenting its intellectual property holdings, and it adds to an impressive arsenal featuring a number ranging from parcel-tracking systems…

Read More