Bitcoin Cash Price Analysis: BCH/USD Gaining Momentum Towards $570

Key Points Bitcoin cash price found support above the $500 level and started an upward move against the US Dollar. Yesterday’s highlighted connecting bearish trend line with resistance at $535 was breached on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is likely to continue higher towards the $560 and $570 levels in the near term. Bitcoin cash price is placed nicely above the $520 support against the US Dollar. BCH/USD may accelerate towards the $560-570 resistance zone if buyers gain momentum. Bitcoin Cash Price…

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Stellar Lumens (XLM) Price Watch: Ascending Triangle Formation

Stellar Lumens Price Key Highlights Stellar Lumens has formed higher lows and found resistance around 0.2600 to create an ascending triangle on its 1-hour chart. Price is nearing the peak of its formation so a breakout in either direction could take place really soon. Technical indicators are giving mixed signals on where the breakout might go. Stellar Lumens price is consolidating in an ascending triangle formation on the short-term chart, with traders waiting for direction. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA to indicate that…

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Investors in German ICOs Have Suffered Losses as High as 90%

Investors in German ICOs have lost up to 90 percent of their capital, Cointelegraph auf Deutsch reports Monday, October 1. German business magazine WirtschaftsWoche compared the token issue prices of Initial Coin Offerings (ICO) carried out by German startups with the prices of early September 2018. The report found that, with up to 90 percent loss in value, the German startup coins lost even more value than lead coins like Bitcoin (BTC) and Ethereum (ETH), which have also fallen sharply following record highs at the end of 2017. WirtschaftsWoche has…

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Bitcoin (BTC) Price Watch: Still Stuck in Consolidation, Breakout Soon?

Bitcoin Price Key Highlights Bitcoin price is still stuck inside its triangle consolidation pattern on the 1-hour time frame. Price is nearing the peak of its formation so a breakout could take place soon. Technical indicators are still giving mixed signals on which direction the breakout might go. Bitcoin price is nearing the peak of its consolidation pattern, which means that a breakout is bound to happen soon. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA for now to indicate that the path of least resistance…

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ShapeShift CEO Erik Voorhees Refutes WSJ Reports of ‘Dirty Money’

Cryptocurrency exchange ShapeShift has refuted a recent Wall Street Journal report that $9 million in ill-gotten funds went through the exchange, according to an announcement published October 1. On September 28, WSJ released an article dubbed “How Dirty Money Disappears Into the Black Hole of Cryptocurrency,” alleging that $88.6 million in fraudulently obtained funds had been funnelled through 46 crypto exchanges, wherein $9 million was laundered through ShapeShift. To analyze ShapeShift transactions, WSJ reportedly downloaded and stored a list of the 50 latest transactions every 15 seconds, at the exchange’s…

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EOS Developer Acknowledges Claims of ‘Collusion’ and ‘Mutual Voting’ Between Nodes

Block.one, the developer of blockchain protocol EOS, has published a statement on EOS public blockchain governance in an official Medium post October 1, signed by Block.one’s CEO, Brendan Blumer. In the statement, Blumer states that the company is “aware of some unverified claims regarding irregular block producer voting, and the subsequent denials of those claims.” Without providing any details on the “denials” of allegations, Blumer stated that EOS will continue to “ensure a free and democratic election process and […] vote with other holders to reinforce the integrity of this…

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Failure of Buyers to Close Above $7,000 is Bearish for BTC

After three weeks of bulls, Bitcoin prices are yet to breach the $6,800–$7,200 main resistance zone. With this, bears are in control as Sep 5 bearish pattern overshadow buy attempts. Remember, this is printing at the time when investors, market influencers and traders are “over the top bullish”. This is all thanks to week ending Sep 23 double bar reversal pattern complete with volume expansion. Latest Bitcoin News At the United Nation’s 73rd General Debate, Malta’s Prime Minister Joseph Muscat was very clear: Cryptocurrency is the inevitable future of money.…

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Bitcoin Will Not Challenge Gold as a Safe-Haven Asset: Equity Analyst

Though many bitcoin investors believe multi-layer scaling solutions such as the Lightning Network (LN) will eventually make BTC a viable payment instrument for the proverbial coffee purchase, most argue that the flagship cryptocurrency’s primary short-term use case is as “digital gold.” However, an equity analyst at one of the world’s most respected investment research firms said that he doesn’t expect bitcoin to make a noticeable dent into the yellow metal’s market share. Analyst: Bitcoin Won’t Steal Gold’s Shine Writing in Morningstar Research Services’ short-form investment commentary series, the “Morningstar Minute,”…

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A Break Out Imminent in IOTA as Cardano Launch Yoroi

With Yoroi wallet of Cardano, Local Snapshots and Delion API of IOTA, Block One new EOS venture Capital and Stellar Lumens’s InterStellar, the market is vibrant—and fundamentally bullish. Nevertheless, prices are down in the last day adding to their >80 percent losses. Considering this divergence, risk-off traders can find opportunities at spot prices to add their long positions with stops below main support levels. Let’s have a look at these charts: EOS Price Analysis Block One CEO Brendan Blumer said EOSIO platform will disrupt traditional businesses. In an interview with…

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‘Permutations and Possibilities of Blockchain are Staggeringly Great’

Former U.S. President Bill Clinton said that the “permutations and possibilities of blockchain technology are staggeringly great,” at Ripple’s annual Swell conference in San Francisco on October 1. Following a keynote address at the event, Clinton spoke with Gene Sperling, who was his economic advisor from 1996-2001, where they covered a range of topics from foreign policy and cultural issues to blockchain and cryptocurrency investing and banking. Clinton said: “This whole blockchain deal has the potential it does only because it is applicable across national borders [and] income groups. The…

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