Bitcoin (BTC) Price Watch: Could This Be a Reversal Pattern?

Bitcoin Price Key Highlights Bitcoin price appears to be forming an inverse head and shoulders pattern on its 1-hour time frame. This is considered a classic reversal signal and if confirmed, price could pull up from its earlier drop. Technical indicators are also reflecting the presence of bullish momentum. Bitcoin price might be forming an inverse head and shoulders pattern as it moves to test the neckline soon. Technical Indicators Signals The 100 SMA is crossing above the longer-term 200 SMA to indicate that the path of least resistance is…

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Bitcoin Cash Price Analysis: BCH/USD Primed to Break above $540

Key Points Bitcoin cash price is slowly moving higher and is currently trading above the $500 support against the US Dollar. There is key bullish trend line formed with support at $515 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is likely to move higher and it could break the $540 resistance for more gains. Bitcoin cash price is preparing for the next break above $535-540 against the US Dollar. BCH/USD remains supported on dips near $515 and $500. Bitcoin Cash Price Resistance There…

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Ripple Partners With Three Crypto Exchanges as Part of XRapid Solution

Ripple has added three cryptocurrency exchanges to its cross-border payments settlement product, according to a press release published August 16. Ripple has partnered with U.S.-based Bittrex, Mexican Bitso, and Philippine Coins.Ph cryptocurrency trading platforms within its initiative to build a “healthy” ecosystem of digital asset exchange. The new partners will enable Ripple’s xRapid payments solution to move between XRP and U.S. dollars, Mexican pesos, and Philippine pesos respectively. Ripple explained the operational principle like this: “A financial institution (FI) that has an account with Bittrex would initiate a payment in…

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Genesis Mining Compels Certain Customers to Upgrade BTC Mining Contracts

Iceland-based hashpower hosting service Genesis Mining is compelling some of its customers to upgrade their Bitcoin (BTC) mining contracts following this year’s significant cryptocurrency price decline, according to an August 17 statement. In 60 days, the company will terminate services for open-ended contracts that mine less than the daily maintenance fee. Genesis claims that the downward trend of BTC around January and heavy decline in crypto mining in April and May resulted in a reduction of mining outputs. If customers wish to continue using Genesis’ services, they have to upgrade…

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Cardano (ADA) Price Technical Analysis

After Prometheus, there is Yoroi and Icarus. Both of these wallets are light weight and hallmark Cardano’s projects that would ultimately push the coin towards adoption. However, shadowing this are Cardano (ADA) sellers who despite slowing down are still on the forefront targeting ATLs at 7 cents. From the News Emurgo is a Japanese company headed by the visionary Ken Kodama, the CEO and co-founder of the Cardano platform. As the business development wing of Cardano, Emurgo has clear objectives. Among the many, their work involves offering support and incubating…

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Nvidia Stock Falls as Q3 Revenue Estimates Hit by Crypto Mining Decline

U.S.-based graphics processing unit (GPU) manufacturer Nvidia stocks fell after announcing its third-quarter estimates, MarketWatch reported August 16. The firm’s revenue was affected by a decrease in crypto mining as digital currency markets slumped earlier this year. Nvidia shares declined more than five percent in the extended session. The closing price in the regular session was $257.44, down 0.6 percent. Nvidia forecasted its third quarter revenue between $3.19 billion and $3.32 billion, lower than the figure predicted by analysts of $3.34 billion. The company reported that crypto mining sales were…

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Bitcoin Drops against Lira as Turkish Treasury Seeks to Calm Investors

The Turkish Lira value improved against the bitcoin price ahead of an important conference between the country’s financial chief and global investors. The BTC/TRY recorded a 22 percent drop since establishing its intraday high at 45382-fiat. A political spat between the Turkish and U.S. governments last week had influenced the latter to double the tariffs on Turkish steel and aluminum. As a result, the Lira value dropped to a record low of $0.139 on Monday, shaking an already weakening economy to further extent. The currency started to reverse its trend…

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Binance LCX Launches Fiat-to-Crypto Exchange in Liechtenstein

Binance LCX, a joint venture between Binance and Liechtenstein Cryptoassets Exchange (LCX), has announced the launch of a fiat-to-crypto exchange, according to a press release published August 16. The new trading platform will be located in Liechtenstein and offer trading between Swiss Francs (CHF) and euros (EUR) against major digital currencies pairs, subsequently adding more trading pairs following regulatory approvals. Binance will provide and support the platform, while Binance LCX will lead customer support, regulatory compliance, and government communication. Adrian Hasler, Prime Minister of Liechtenstein, commented the launch: “We are…

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Strong US Dollar, Not ICOs, Drove Recent Cryptocurrency Market Decline

The cryptocurrency markets experienced a slight pullback on Thursday but have more or less managed to maintain the midweek recovery that followed Monday’s massive sell-off. As CCN reported, some analysts attributed that decline — which affected ethereum to a far greater extent than bitcoin — to ICO-funded startups cashing out their capital before the market takes an even further dip. Arthur Hayes, CEO of cryptocurrency derivatives exchange BitMEX, added that he believes nervous VCs will soon begin moving out of their ICO tokens and ether holdings, which he forecasts will…

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BCG Report Offers ‘Reality Check’ for Blockchain in Commodities Trading

Major U.S. consulting firm Boston Consulting Group (BCG) has released an in-depth report August 16, which it dubs a “reality check” for the use of blockchain in the commodity trading industry. For commodities trading, BCG argues that there is a strong argument for using blockchain, while taking stock of “significant drawbacks on several fronts.” The report tackles both the “hype,” but also many of the negative “misperceptions” that distort people’s view of the technology. According to BCG, blockchain at first glance appears to be “a natural fit for the commodity…

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