Bitcoin Cash Price Analysis: BCH/USD Primed To Break $530

Key Points Bitcoin cash price is trading with a positive structure above the $510 support against the US Dollar. There is an ascending channel in place with support at $520 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is likely to move higher above the $530 and $540 resistance levels in the near term. Bitcoin cash price is consolidating above $520 against the US Dollar. BCH/USD could accelerate higher once buyers clear the $530 resistance area. Bitcoin Cash Price Analysis Yesterday, we saw a…

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EOS Price Watch: Bulls Setting Their Sights Higher

EOS Price Key Highlights EOS price recently busted through the top of its symmetrical triangle on the 4-hour chart to signal that a climb is taking place. Price is also trading inside a short-term ascending channel and may be aiming for the top around 6.5000. Technical indicators are giving mixed signals, with moving averages supporting further gains. EOS could be in for more gains as it made an upside break from a triangle consolidation and is forming an ascending channel.  Technical Indicators Signals The 100 SMA is still above the…

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Bitcoin (BTC) Price Watch: More Signs Point to Gains

Bitcoin Price Key Highlights Bitcoin price recently moved past the top of its long-term triangle to signal an uptrend in the works. Price is also trending higher inside an ascending channel and is currently testing an area of interest. Sustained bullish momentum could take it to the nearby upside target around the $7,000 handle. Bitcoin could set its sights higher as it gains more traction on its bullish triangle breakout, aiming for $7,000 next. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA to signal that the…

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Oldest UK Crypto Exchange Coinfloor Laying Off Staff

British cryptocurrency exchange Coinfloor is laying off the majority of its staff, news outlet Financial News reported Oct. 8.     Coinfloor is a London-based digital currency trading platform founded in 2013. Coinfloor is reportedly the oldest crypto exchange in the U.K. and is focused on institutional and sophisticated investors. According to CoinMarketCap, Coinfloor’s daily trading volume is around $1 million at press time. Two people familiar with the matter told Financial News that Coinfloor is laying off the greater part of its approximately 40 employees. The exchange’s CEO Obi Nwosu…

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Bitcoin Price Analysis: BTC Accumulates, Break-Out Likely

Law and order dominates. Inevitably for policy makers, they are now drafting laws after realizing Bitcoin and cryptocurrencies are here to stay. Regulators in Japan, South Korea and Thailand were the first to pick up early signals but now, the wave is sweeping across Europe. Overly this is good and could help drive Bitcoin and altcoins from 2018 lows. Latest Bitcoin News In a technology that is still trying to find its footing, regulators are stamping their authority. They always do.  After all, the only way of riding bad elements…

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Coinbase U.S. Dollar Volume Hits One-Year Low in Third Quarter of 2018

In the third quarter of 2018, San Francisco-based cryptocurrency exchange Coinbase’s U.S. dollar volumes hit a 1-year low, according to a recent analysis of Diar published October 8. According to the diagram below, in the third quarter of 2018 the U.S. dollar volumes on Coinbase dropped to the lowest level during the past year. Compared to the same period last year, the trading volume of Bitcoin (BTC) is currently slightly higher, around $5.4 billion versus compared to $4.6 billion in 2017. The trading volume of Ethereum (ETH) and Litecoin (LTC)…

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Trading TRX and IOT Break-Outs, EOS Adds 6%

Odds are altcoins are likely to fly off from their main support. With most registering gains in the last day, prices are now inching above key resistance trend line with Tron for example trending above Sep 2018 highs. As a result, bulls are likely to dominate and the same might pan out in IOTA thanks to the last three days of consistent higher highs. Let’s have a look at these charts: EOS Price Analysis The pluses of EOS mutability and block producers prevented a $12 million EOS heist according to…

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EU Markets Regulator Examines ICOs to Determine Regulations

The European Securities and Markets Authority (ESMA) has announced it is examining Initial Coin Offerings (ICOs) to determine how they should be regulated, Reuters reported Oct. 8. The ESMA was established in 2011 in Paris, France, with an objective to develop a common rulebook for European Union (E.U.) financial markets and supervise them. The ESMA also works closely with the other European Supervisory Authorities competent in the field of banking (EBA), and insurance and occupational pensions (EIOPA). According to Reuters, the ESMA is assessing ICOs to see how they comply…

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UK Telecoms Regulator Receives Grant to Deploy Blockchain for Telephone Number Management

The United Kingdom (U.K.) Office of Communications (Ofcom) has received a £700,000 ($916,00) grant from the Department of Business, Energy and Industrial Strategy (BEIS) to explore blockchain technology, according to an announcement published Oct. 8. The grant will purportedly help the U.K. telecoms regulator examine how blockchain can improve the management of landline telephone numbers. Established in 2016, the BEIS is a government department supported by 46 agencies and public bodies and responsible for business, industrial strategy, science, innovation, and energy and climate change policy. Per the announcement, Ofcom is…

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Ukrainian Ministry of Finance Creates Working Group to Develop Crypto Taxation

The Ukrainian Ministry of Finance is creating a working group to discuss and develop a legal framework for crypto taxation, according to an Oct. 8 announcement on the ministry’s official website. The group will start its work beginning Oct.16 to identify crypto-related tax regulation options within the existing legal framework. The group of experts will also identify possible instances in which new or revised legislation is necessary. The findings of the group will be presented to the Expert Council for the preparation of common tax consultations by the end of…

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