Ripple (XRP) Price Watch: Will More Bulls Join In?

Ripple Price Key Highlights Ripple recently busted through a descending trend line to signal that a reversal from the downtrend is underway. Price is pulling back to the broken resistance, though, so a retest appears to be taking place. If the former resistance holds as support, price could resume the climb to the swing high or the next Fib extension levels. Ripple price is retesting a broken falling trend line resistance that might hold as a floor and push it to the extension levels next. Technical Indicators Signals The 100…

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Bitcoin Cash Price Analysis: BCH/USD Upsides Capped Near 100 SMA

Key Points        ·         Bitcoin cash price recovered further, but it failed to move above the $540 resistance area against the US Dollar. ·         There is an expanding triangle forming with current support at $492 on the hourly chart of the BCH/USD pair (data feed from Kraken). ·         The pair could bounce back once again, but it has to break the $530-540 resistance zone for more gains. Bitcoin cash price failed near a key resistance at $540 against the US Dollar. BCH/USD has to surpass the 100 hourly SMA to gain…

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Bitcoin (BTC) Price Watch: Trend Line Break and Correction

Bitcoin Price Key Highlights Bitcoin price recently broke above a short-term descending trend line as an early reversal signal. Price reached the $6,650 level then made a pullback to the broken resistance, which lines up with the Fibs. Technical indicators also suggest a continuation of the reversal. Bitcoin price broke above its descending trend line and is making a retest of this area before heading further north. Technical Indicators Signals The 100 SMA is still below the longer-term 200 SMA to indicate that the path of least resistance is to…

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Coinbase to Pursue Decentralized Form of Identification Following Acquisition

Cryptocurrency exchange and wallet service Coinbase has acquired San Francisco-based startup Distributed Systems Inc., which works on decentralized identity solutions, according to an August 15 announcement. In the blog post, B Byrne, project manager for Identity at Coinbase, said Distributed Systems will help the exchange work on new ways to validate and verify identity within its plans to develop an open financial system. The blog post says: “Blockchain technology that powers cryptocurrencies offers a new way to let us all be “verified” everywhere we go on the internet, feeling safer about…

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Ripple Considering Chinese Market to Speed Up Payment Solutions

Ripple is considering breaking into the Chinese market to apply its distributed ledger technology (DLT) to cross-border payments, a Ripple executive told CNBC August 15. Jeremy Light, vice president of European Union strategic accounts at Ripple, said in a phone interview that the company is looking to enter the Chinese market to speed up international payments with its DLT. Light said that “China is definitely a country and region of interest.” While blockchain is the technology that underpins cryptocurrencies, Ripple’s blockchain was initially designed to accelerate payments processing, which subsequently…

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Coinbase Signed Up 50,000 Users per Day in 2017

Cryptocurrency exchange Coinbase CEO Brian Armstrong said in an August 14 interview with Bloomberg that it was signing up 50,000 users per day in 2017. Speaking at the Bloomberg Players Technology Summit in San Francisco on Tuesday, Armstrong said that the “technology [Bitcoin] is going through a series of bubbles and corrections, and each time it does that, it’s at a new plateau.” He added that “people’s expectations are all over the map, but real-world adoption has been going up,” stating that he sees “real world adoption pretty steadily increasing…

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Cryptocurrency Markets Maintain Momentum Despite Slight Retracement

The cryptocurrency markets continued their positive momentum on Wednesday evening as most of the coins held on to the double-digit gains achieved over the past 24 hours. Most importantly, altcoins acted independently of the bitcoin price, with several performing significantly better than the largest cryptocurrency by market cap. As of press time on Wednesday, BTC was trading at around $6,350, having briefly even crossed $6,600 during the day before falling back. Ethereum roared back to the $300 mark, as noted earlier, although it had gone down slightly to the $286…

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If Bitcoin is Rat Poison, the Banks Are the Rats: Pantera Capital CEO

Pantera Capital officials continue to maintain an upbeat outlook for cryptocurrency amidst the current market downturn. In an ICO and digital asset funds conference call Tuesday, CEO and chief investment officer Dan Morehead said blockchains are the next step in the evolution of equity, while cryptocurrency is a superior form of currency. He called bitcoin the biggest disruption of this generation. Morehead has been a perpetual crypto optimist, having stated that the cryptocurrency market cap could one day be worth $40 trillion. In April, Pantera prematurely said that the market…

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Over $2 Million Lost to Crypto Scams in Second Quarter of 2018

A recent report from Russia-based antivirus and cybersecurity firm Kaspersky Labs states that in the second quarter of 2018, cybercriminals stole over $2.3 million dollars via crypto scams. The report, entitled “Spam and phishing in Q2 2018,” notes so-called “crypto giveaways” as a pervasive example of phishing, wherein cybercriminals dupe individuals into giving up sensitive information as part of a too-good-to-be-true promotion giving away popular cryptocurrencies. In these crypto phishing scams, unsuspecting individuals are fooled into voluntarily giving up important information on convincing but malicious copies of popular crypto wallets…

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Y Combinator Reveals Ex-Baidu Blockchain Bull Qi Lu as CEO of New China Division

The Ex-COO of ‘Chinese Google’ Baidu and blockchain bull Qi Lu has joined Y Combinator (YC) to run the company’s new China-based division, according to a blog post August 14.   Y Combinator –– the major Silicon Valley-based entrepreneurial accelerator that funded such startups as Dropbox, Airbnb, Coinbase, Reddit, among others –– announced that is has officially entered the Chinese market, launching a new division of the company there. The company also announced that the new division will be launched and run by ex-Baidu exec Qi. In the announcement, YC president…

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