Crypto Market Wrap: Bitcoin Steady Before ETF Ruling, What’s Expected?

Crypto markets holding onto gains; Bitcoin back at $8,000 prior to anticipated bitcoin ETF ruling, BCH and XRP gaining slowly, Dash pumping. 
Market Wrap
Crypto markets have held on to their weekend gains as Bitcoin remains buoyant. The correction that never was ended in early Sunday trading when BTC surged back towards $8,000. Today market capitalization remains close to $250 billion but a big regulatory decision due tomorrow could create some big moves soon.
Bitcoin revisited its 2019 high of $8,250 a few hours ago. BTC sharply pulled back to just above $7,900 after hitting resistance but has since regained composure and climbed back up to $8k, trading marginally higher than the same time yesterday.
Ethereum is flat and remains just above $250 where it was this time yesterday. ETH has also held on to recent gains but has not seen the doubling in price that its big brother managed since early April.
There is very little movement in the top ten at the time of writing. Only XRP and Bitcoin Cash have added a couple of percent to trade at $0.40 and $408 respectively. The rest are unchanged aside from Cardano which has pulled back marginally.
The top twenty has more red than green during Asian trading this morning. Only Dash is pumping as 10 percent takes it to $165. South Korean markets are getting the majority of Dash trade at the moment as Bithumb is top exchange. Monero has made 3 percent but the rest are in decline.
FOMO: NEXT Spikes into Top 100
Today’s fomo is going to NEXT which has entered the top one hundred with a 45 percent pump. The South Korean exchange Coinbit exchange is creating the fomo for NET. Japan Content Token is also getting a 40 percent spike as it too enters the big 100. These two relatively obscure altcoins are the only ones pumping at the moment.
At the messy end of the table is Decred dumping ten percent today. Digibyte and Crypto.com’s MCO are also sliding with a loss of over 7 percent each.
Total market capitalization 24 hours. Coinmarketcap.com
Total market capitalization is currently at $248 billion which is marginally higher than the same time yesterday. It did reach a high of $257 billion when Bitcoin hit resistance but has since pulled back slightly. There is growing concern that the imminent SEC decision for the VanEck ETF could cause prices to plummet. The regulator is due to decide on approval of the long awaited fund tomorrow but the most likely outcome is another delay.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
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Ublex Signs Two More Partnerships on the Way Towards Building Reliable Crypto Ecosystem

Coinspeaker
Ublex Signs Two More Partnerships on the Way Towards Building Reliable Crypto Ecosystem
Ublex just made another step towards the user-friendly digital asset ecosystem, reaching new partnership with Future money and signing Memorandum of Understanding with EXX.
Ublex Signs Two More Partnerships on the Way Towards Building Reliable Crypto Ecosystem

Continue reading at Coinspeaker
Source: CoinSpeaker

Cryptopia: Stolen Ethereum transferred to unknown wallet days after exchange confirms liquidation

The saga of the hacked New Zealand-based cryptocurrency exchange, Cryptopia, doesn’t seem to end. Just a week after the exchange entered the liquidation process, over 30,000 ETH stolen from Cryptopia in January was transferred to an unknown wallet.
As confirmed by WhaleAlert, a tracker of large cryptocurrency-related transactions, the transfer occurred at 01:43:57 UTC on 20 May 2019. The exact amount in question was 30,790 ETH, valued at $7.74 million, at press time.
The Whale Alert tweet read,
“30,790 #ETH (7,740,465 USD) transferred from Cryptopia Hack to unknown wallet”
Based on the transaction details presented by Whale Alert, the from address of 3fbaa73a433daa0f6c43d1c732c3f97a86f3a427 was titled “Cryptopia Hack,” and the receiving address was d96ba527be241c2c31fd66cbb0a9430702906a2a, which has not been confirmed by the site. The hashrate, for the particular transaction, was 16b674afe80107bc3acfe2ee613c8371e0987a36dc0ae51ad3de57458136441b.
Source: Whale Alert
The exchange has not confirmed the incident, as of press time. However, on May 15, Cryptopia had made it clear to its remaining customer base to halt deposits immediately. Their tweet had read,
“PLEASE DO NOT SEND ANY DEPOSITS TO CRYPTOPIA.”
Last week, following queries from distressed customers after the exchange’s unscheduled maintenance halt, Cryptopia announced that it would be entering into a liquidation phase, carried out by Grant Thornton. Officials from the accounting firm confirmed that this process could take months.
Cryptopia’s problems began in January, when the exchange suffered what would be the first of two hacks. The first attack caused a loss of $16 million in ETH. Weeks after the January hack, a second attack took place and cost the exchange $180,000 in Ether. After weeks of confusion, the exchange resumed services in March 2019.
Back in March, a similar quantity of ETH was transferred from aa923cd02364bb8a4c3d6f894178d2e12231655c titled “Cryptopia Hack,” to an unknown wallet, 3fbaa73a433daa0f6c43d1c732c3f97a86f3a427, to the tune of 30,789 ETH, worth $4.28 million at the time.
Interestingly, the address 3fbaa73a433daa0f6c43d1c732c3f97a86f3a427 prior to the recent transaction saw an outgoing transaction of 1 Ether, totaling the March amount.
Source: Etherscan
The post Cryptopia: Stolen Ethereum transferred to unknown wallet days after exchange confirms liquidation appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin (BTC) Price Targets Additional Gains: Dips Remain Supported

Bitcoin price started a fresh increase after forming a support base above $6,900 against the US Dollar.
The price gained bullish momentum above $7,400 and settled above the key $7,650 pivot level.
There is a major bullish trend line forming with support near $7,610 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair remains well supported on the downside above $7,600 and it could soon break $8,200.

Bitcoin price is positioned nicely in the positive zone above $7,600 against the US Dollar. BTC could correct in the short term, but dips remain supported near $7,760 and $7,650.
Bitcoin Price Analysis
Recently, bitcoin price formed a strong support near the $7,250 level against the US Dollar. The BTC/USD pair started a strong rise from the $7,230 swing low and climbed above the $7,400 resistance level. The recent upward move was such that the price even climbed above the $7,500 resistance and the 100 hourly simple moving average. Finally, there was a clear break above the $8,000 resistance level. The price tagged the main $8,280 resistance level and recently corrected below the $8,150 level.
There was a break below the 23.6% Fib retracement level of the last wave from the $7,230 low to $8,288 swing high. However, the $7,800 level is acting as a strong buy zone. Moreover, the 50% Fib retracement level of the last wave from the $7,230 low to $8,288 swing high is also near the $7,764 level to provide support. More importantly, there is a major bullish trend line forming with support near $7,610 on the hourly chart of the BTC/USD pair. It seems like there is a strong support forming near $7,610 and the 100 hourly SMA.
Besides, the 61.8% Fib retracement level of the last wave from the $7,230 low to $8,288 swing high is also near the $7,640 level. Therefore, if the price corrects lower from the current levels, the $7,760 and $7,650 levels are likely to act as strong supports. If there is a downside break below the $7,600 support zone, the price might move back in a bearish zone.

Looking at the chart, bitcoin price is currently trading with a positive bias above the $7,650 support. As long as the price is above $7,600, it is likely to continue higher towards $8,200 and $8,300. A clear break above the $8,300 resistance may perhaps clear the path for more gains above $8,400.
Technical indicators:
Hourly MACD – The MACD is slowly moving in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is moving lower, but it is well above the 50 level.
Major Support Levels – $7,760 followed by $7,650.
Major Resistance Levels – $8,150, $8,200 and $8,300.
The post Bitcoin (BTC) Price Targets Additional Gains: Dips Remain Supported appeared first on NewsBTC.
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Dash More Popular Than Bitcoin and Litecoin in Venezuela: CEO of Dash Core Group

Dash is a privacy-focused cryptocurrency, aimed towards providing low-cost remittances around the world. The Dash Core team under CEO Ryan Taylor, responsible for the development and adoption of Dash has made a lot of progress in Venezuela. They have made it their primary focus as they continue to offer other low-cost solutions to improve the technology infrastructure in Venezuela.
Recently, in an interview with Fred Schebesta of Crypto Finder, Ryan noted that,
“Dash is actually used more often at the point-of-sale in Venezuela than Bitcoin and Litecoin combined… We have two-three thousand merchants in Venezuala acception Dash.”
Dash has also been integrated by MasterCard earlier this year to provide feasible crypto-to-fiat payments. Taylor also talked about Dash integrated cell-phones which have dash wallets in-built in them. According to him, they have shipped a hundred thousand of those phones.
The Dash Core group is also establishing partnerships with existing remittance providers and financial institutions to reduce the overall cost of remittance and decrease the “monopolistic” effect of big firms in the remittance industry.
Price Surged by Almost 40% Over the Week
Dash recorded a price surge of 23% on 19th May 2019, as the price broke above resistance levels. The price of Dash at 5: 00 hours UTC on 20th May 2019 is 166.9. It is trading 10.92% higher on a daily scale.
DASH/USD Daily Chart on TradingView
Dash corrected slightly as it met resistance near $170. On a weekly scale, the price has surged over 38% as it began last week at around $125. The total market capitalization of Dash also touched $1.5 billion as it gained a couple of ranks to cement 13th position w.r.t. Mcap.
DASH/USD 1-Week Chart on TradingView
The All-Time High Price of Dash is above $1400. While it was achieved during the bubble of 2017, Dash has improved its reach and adoption tremendously.
Do you think the bull run on Dash will be back? Please share your fundamental and technical viewpoints with us. 
The post Dash More Popular Than Bitcoin and Litecoin in Venezuela: CEO of Dash Core Group appeared first on Coingape.
Source: CoinGape

Crypto Market Following Strong Uptrend: Bitcoin Cash, XLM, EOS, TRX Analysis

The total crypto market cap recovered sharply after testing the key $210.0B support area.
Bitcoin price jumped back above the $7,800 and $8,000 resistance levels.
Bitcoin cash price is up more than 5% and it recently broke the key $400 resistance.
EOS price is now trading above the $6.00 and $6.15 support levels, with a positive bias.
Stellar (XLM) price is currently consolidating gains above the $0.1300 and $0.1320 levels.
Tron (TRX) price is slowly moving higher towards the key $0.0300 resistance level.

The crypto market cap is gaining momentum, with positive moves in bitcoin (BTC) and Ethereum (ETH). Besides, BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) are likely to accelerate higher.
Bitcoin Cash Price Analysis
Bitcoin cash price declined heavily this past week and broke the $385 and $365 support levels against the US Dollar. The BCH/USD pair tested the $350-355 support area and recently bounced back sharply. It broke the $385 and $400 resistance levels to move back in a positive zone.
The current price action is positive above $405, with an immediate resistance near the $425 level. A clear break above the $425 resistance may push the price towards the $430 and $440 levels.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price climbed back above the $6.00 pivot level after a strong downside correction. The price is now trading well above the $6.20 support level and it seems like it could even make an attempt to surpass the key $6.50 resistance level in the near term.
Stellar price remained stable after it surged above the $0.1100 and $0.1200 resistance levels. XLM price is now trading nicely above the $0.1350 level and it could soon trade above $0.1400 and $0.1420. On the downside, the main supports are $0.1320 and $0.1300.
Tron price failed to stay above the $0.0300 level for a long time. TRX price declined towards the $0.0265 support level and it is currently correcting higher. On the upside, there are many hurdles near the $0.0295 and $0.0300 levels.

Looking at the total cryptocurrency market cap hourly chart, there was a sharp upward move above the $220.0B and $230.0B resistance levels. The trend line and support near $210.00 and $215.0B proved significant, resulting in a strong upward move. The market cap is now above the $235.0B level and it recently tested the $247.0B level. In the short term, there could be a downside correction, but the $230.0B level is likely to act as a strong support. On the upside, there are many hurdles near $248.0B and $250.0B, above which the market cap could rally to $260.0B. Overall, there could be more upsides in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins in the near term.
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Source: New feedNewsBTC.com

SEC Commissioner ‘Optimistic’ About Bitcoin ETF, But Delay of VanEck Proposal Most Likely

A Bitcoin ETF (Exchange Traded Fund) approval would enable the US market to predict and trade on Bitcoin prices without actually having to buy and sell Bitcoin [BTC]. The fund would track the price of the underlying asset, which can be Bitcoin alone or a basket of assets including other cryptocurrencies or other equities, bonds or commodities as well.
The Securities Exchange Commission is the regulatory authority that approves or denies a specific request to launch a new ETF on the market. There are more than nine Bitcoin ETF applications pending with the SEC. Moreover, the SEC also received a new crypto-basked (Bitcoin and Ethereum) based ETF application.
Reportedly, the total capital of the US ETF market is about $5 trillion. Even if 1% of the trading moves to Bitcoin, it will effectively increase the market capitalization of Bitcoin alone by $50 billion.
Industry Experts Weigh SEC Options
Jake Chervinsky, an Attorney at Kobe and Kim LLP. had noted on May 17, 2019, that,
“The SEC delayed the Bitwise bitcoin ETF two days ago but still hasn’t made a decision on VanEck. This is unusual: the SEC would normally handle both ETFs at once. The VanEck deadline is next Tuesday. I still think the delay is overwhelmingly likely, but the timing has me curious.”
Also Read: SEC is not Against Crypto ETF – Bitwise Explains
The comments are likely to get the hopes high for any Bitcoin bull. However, according to the filing dates, the deadline for Bitwise was on 16th May, while the deadline for the re-applied Van Eck proposal in 21st May.
The VanEck proposal was withdrawn and re-submitted by the firm itself on 20 February 2019. The deadline for which was a 45-day period which ends on 21st May 2019.
Furthermore, in a recent interview with Ran Neuner from CNBC fast money, Hector Pirce, the SEC Commissioner hinted at a further delay. She said,
“I am still optimistic. Don’t hold your breath. Market manipulation are issues that get a lots of attention at the SEC.”
Hence, the positive outcome for bulls would be a delay in the approval over a complete rejection.
Jake Chervinsky also predicted that there is a 75% probability that the proposal will be delayed and 0.1% probability of an approval. He said in a recent tweet,
“In the past, the SEC has typically bundled together all of its decisions on pending bitcoin ETFs & announced them on the same day… To be fair, the fact that the SEC delayed Bitwise & stayed silent on VanEck could mean nothing at all. He went on to say that, “Bitcoin has been very volatile recently & investigations related to fraud & manipulation have ramped up (like NYAG & Bitfinex). The SEC has no reason or incentive to come out in favor of bitcoin in this environment.”
Also Read: SEC Delays Bitcoin ETF Yet Again, Will It Hinder the Expected Bull Run?
The Bitcoin ETF proposal has been pending the markets for six years since its first application. The SEC has denied and delayed, and all of them until now. Nevertheless, a denial or delay is unlikely to dampen market spirits.
What are the chances of approval according to you? Please share your views with us. 
The post SEC Commissioner ‘Optimistic’ About Bitcoin ETF, But Delay of VanEck Proposal Most Likely appeared first on Coingape.
Source: CoinGape

Ripple (XRP) Price Near Make-or-Break Levels: Can Bulls Take Over?

Ripple price formed support near the $0.3610 level and recently recovered against the US dollar.
The price traded towards $0.4300 and it is currently correcting lower towards $0.3900.
There is a short term rising channel forming with support near $0.3950 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is likely to bounce back above $0.4100 or could decline sharply towards the $0.3610 support.

Ripple price seems to be following a decent bullish path against the US Dollar, but struggling vs bitcoin. XRP is likely to find a strong support near $0.3950 and it could climb back above $0.4100.
Ripple Price Analysis
After a strong decline, ripple price found support near the $0.3610 against the US Dollar. The XRP/USD pair started a decent rebound and traded above the $0.3850 and $0.4000 resistance levels. The recent recovered was convincing since the price traded towards $0.4200 and settled above the 100 hourly simple moving average. A swing high was formed at $0.4295 and the price recently corrected lower. It traded below the $0.4150 support and the 23.6% Fib retracement level of the recent leg from the $0.3632 low to $0.4295 high.
The price is now approaching a key support area near the $0.4000 and $0.3950 levels. There is also a short term rising channel forming with support near $0.3950 on the hourly chart of the XRP/USD pair. The 50% Fib retracement level of the recent leg from the $0.3632 low to $0.4295 high is also near the $0.3960 level. Moreover, the 100 hourly simple moving average is also acting as a support near $0.3960. If there is a downside break below the $0.3960 support, there are chances of more losses.
The next key support is near the $0.3780 level. If there are further losses, the price may revisit the $0.3610 support area. Conversely, if the price bounce back, it could retest the $0.4200 and $0.4300 levels. Above $0.4300, the price is likely to rise towards the $0.4500 level.

Looking at the chart, ripple price is clearly trading near a few important supports near the $0.3950 level. Therefore, the price could either bounce back or break $0.3950 to decline further. The technical structure is positive and it seems like there are chances of a fresh increase above $0.4200 and $0.4300. However, a successful follow through above $0.4300 could open the doors for more gains in the near term.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is slowly moving in the bearish zone, with a few negative signs.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is just above the 50 level, with a positive angle.
Major Support Levels – $0.3950, $0.3780 and $0.3610.
Major Resistance Levels – $0.4200, $0.4300 and $0.4500.
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Source: New feedNewsBTC.com

Sally Ho's Technical Analysis 20 May 2019

Bitcoin
Bitcoin (BTC/USD) encountered some profit-taking early in the Asian session after being lifted to the 8315.00 area late in yesterday’s North American session, just below the 76.4% retracement of the move from 9948.12 to 3128.89. The pair then traded as low as the 7800.00 figure early in the Asian session. Both 8186 and 8210 represented short-term upside price objectives following yesterday’s price activity and Stops were elected above both of those areas, pushing the pair close to fresh multi-month highs and to levels that preceded the massive sell-off late last week.
Chartists are again focusing on important levels of technical Resistance and upside price objectives. The 8488.00 figure represents a relative high dating to July 2018 and the 9948.12 area represents a relative high dating to May 2018. Upside price objectives related to short-term price activity this weekend include 8406.26/ 8505.94/ 8678.17. Below current price activity, traders are eyeing the 50-bar MA (4-hourly), currently around 7647.97 followed by 7709.26 and 7580.79.
On a 60-minute chart, the 50-bar, 100-bar, and 200-bar MAs have converged and are trading within US$ 25.00 of each other.
Price activity is nearest the 50-bar MA (4-hourly) at 7647.97 and the 100-bar MA (Hourly) at 7647.12.
Technical Support is expected around 7548.79/7204.87/ 6830.99 with Stops expected below.
Technical Resistance is expected around 8488.00/ 8678.17/ 9117.00 with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
 
Ethereum
Ethereum (ETH/USD) depreciated early in today’s Asian session, receding to the 245.88 level after peaking around the 264.77 area during yesterday’s North American session. Today’s intraday low is right around the 38.2% retracement of the move from 281.77 to 222.88. Additional selling pressure could see the 236.78 area challenged, representing the 23.6% retracement of the same range. Just below that area, the 234.21 area is important with the 230.98, 219.53, and 215.29 levels of technical significance below there. Chartists are also eyeing the 50-bar MA (4-hourly) around the 227.98 area at present.
Yesterday’s renewed buying pressure has technicians speculating where ETH/USD could be headed next on the upside. 267.87 represents the 76.4% retracement of the aforementioned 281.77 – 222.88 range. Additional upside price objectives related to yesterday’s price activity include 267.60, 278.57, and 289.46. Notably, price activity is now around both the 50-bar MA (hourly) and 100-bar MA (hourly).
Price activity is nearest the 50-bar MA (4-hourly) at 227.99 and the 100-bar MA (Hourly) at 248.00.
Technical Support is expected around 219.53/ 204.84/ 185.46 with Stops expected below.
Technical Resistance is expected around 272.56/ 281.77/ 289.46 with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
Source: Crypto Daily

Ethereum (ETH) Price Correcting Gains: Key Buy Zones Nearby

ETH price rebounded nicely and traded above the $240 and $250 resistances against the US Dollar.
The price tested the $265 level and it is currently correcting lower towards the $240 support.
There is a key bullish trend line forming with support near $240 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is likely to find a strong buying interest near $240 and the 100 hourly simple moving average.

Ethereum price remains in a strong uptrend above $240 versus the US Dollar, but consolidating vs bitcoin. ETH is currently correcting lower, but dips remains supported near $240.
Ethereum Price Analysis
After forming a decent support base, Ethereum price rebounded nicely and traded above the $240 and $250 resistances against the US Dollar. The ETH/USD pair even cleared the $260 level and settled well above the 100 hourly simple moving average. A swing high was formed near $265 and recently the price started a downside correction. It declined below the $260 level and the 23.6% Fib retracement level of the recent leg from the $232 low to $265 high.
It even traded below $255 and it is currently tested the $248-250 support area. The 50% Fib retracement level of the recent leg from the $232 low to $265 high is also acting as a support. To the downside, there is a strong support forming near the $240 level. Besides, there is also a key bullish trend line forming with support near $240 on the hourly chart of ETH/USD. The trend line coincides with the 76.4% Fib retracement level of the recent leg from the $232 low to $265 high. Therefore, as long as the price is above the $240 support, it is likely to bounce back.
More importantly, the 100 hourly simple moving average is near the trend line and the $240 support. If there is a downside break below the $240 support, the price could retest the $232 support area. On the upside, an initial resistance is near $257-258. If there is an upside break above $260, there are high chances of a fresh high above the $265 level in the near term.

Looking at the chart, Ethereum price is currently correcting lower towards a few important supports near $240. The bulls are likely to remain active as long as the price is above $240 and the 100 hourly SMA. On the upside, a clear break above $257 and $260 might push the price towards $280.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly moving in the bearish zone.
Hourly RSI – The RSI for ETH/USD moved down below 40 and it is currently heading towards the 40 level.
Major Support Level – $240
Major Resistance Level – $260
The post Ethereum (ETH) Price Correcting Gains: Key Buy Zones Nearby appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin [BTC] creates High Low of $7,100 following recent breakout; foundation for $9,000 surge?

Bitcoin [BTC] and the recent $8,000 break-out is massive for the cryptocurrency market going forward. On the back of no major announcement in the past few days, and the pull-back of the previous week, the king coin won its second battle against the price ceiling curating a major high, in the form of an exhibited low.
As the May 19 bulls rampaged the market, buoying the top cryptocurrency to rise by 7 percent in the hour earlier today, a new High-Low [HL] was seen at just below $7,100 which sparked signs for the foundation of a $9,000 break-out. With Bitcoin trading above $8,000 and showing marginal gains off-late, a continued run is foreseen by many in the community.
Given that the king coin edged below the aforementioned price point last week, and dropped quickly to a low of $7,100 during the anticipated “pull-back,” although with compounded reasons pertaining to the post-Consensus bears and the Bitstamp sell order, the recent incline over $8,000 is a positive sign.
CryptoMonk, a Bitcoin and altcoin trader and host of the crypto-monsoon podcast, ironically, attested to Bitcoin’s continued ascent into crypto-spring. He tweeted:
“$BTC has just successfully printed another HL.
It’s a matter of time before we see + $9k.”
The trader supported his statement with a chart depicting the various HLs exhibited by the coin in the past few months. Prior to the HL of $7,100, the previous one was seen just below $7,000 and the one before that was around $5,500 during early May when the FOMO had not set in yet.
Source: Twitter
What is even more surprising, is the fact that there is no real source of Bitcoin’s current 10.16 percent daily gain. Unlike the earlier $8,000 ascendance, which was on the back of several announcements involving Bakkt, Gemini, Microsoft, and Amazon.
Interestingly, the recent price surge mirrored the April incline, as there was no real indicator for the pump. Yes, several signs in the form of an April fool’s joke, China-BTC-mining ban FOMO, and a large automatic buy order were touted as the source, none could be confirmed as the primary push. This April 2 push was the foundation for the successive BTC pumps over $6,000, $7,000 and now $8,000 with $9,000 on the cards.
CryptoMonk did issue a cautionary tone prior to a likely confirmation of a $9,000 breakout. The High High [HH] which stands at $8,260, formed on the back of last week’s pump before the “pull-back,” will act as a resistance of some sort, and if the same is broken, a constant push will, more or less, be a high possibility.
The post Bitcoin [BTC] creates High Low of $7,100 following recent breakout; foundation for $9,000 surge? appeared first on AMBCrypto.
Source: AMB Crypto

Game of Thrones ignites barrage of Bitcoin [BTC] bets on who will take the ‘Iron throne’

The much-awaited Game of Thrones series is coming to an end and the true ruler of Westeros is still a debated topic. However, the cryptoverse made things interesting for the GoT fans as it introduced a betting game for the fans to earn the largest cryptocurrency in the world, Bitcoin [BTC].
FreeBitco.in, a Bitcoin [BTC] faucet on its platform hosted this betting game for its registered users to place a bet on their best choice of who would ultimately sit on the iron throne. Among the choices were obvious ones like Jon Snow, Daenerys Targaryen, and Cersei Lannister, but there were also other options like the Stark siblings- Bran, Arya, and Sansa, Tyrion Lannister, Gendry Baratheon, and the Night King. However, an option of ‘Unknown’ was also available for the users to choose.
At the beginning of the season 8, Jon Snow led the betting with 1.532005 BTC, however as the season progressed Jon Snow slipped to the second position, as Bran took to the lead, while ‘Unknown’ settled as the third best option. The pool value of the bet currently rests at 4.97219626 BTC, worth almost $40k. However, the pool has a time multiplier, implying reducing reward shares as time passes.
At press time, 41% of bets were placed under the name of Bran Stark AKA the Three-Eyed Raven, followed by the King in the north AKA Jon Snow with 22%. The bets for an unknown character taking the throne were around 13%, after which Sansa, Tyrion, and Daenerys accounted for 5% each.
As the Game of Thrones comes to an end and the Crypto market cheers for the rising price of BTC, even as the winner of the pool could land themselves with a handsome amount in BTC, as it has already crossed $8k.
The post Game of Thrones ignites barrage of Bitcoin [BTC] bets on who will take the ‘Iron throne’ appeared first on AMBCrypto.
Source: AMB Crypto

Charlie Shrem claims Mt.Gox was the first to create ‘token as debt’, not Bitfinex

The cryptocurrency market has seen quite a few scandals and Mt. Gox was among the most infamous of them all. Charlie Shrem, a Bitcoin entrepreneur discussed the story of Mt. Gox with J Maurice, a Bitcoin Miner, on his podcast ‘Untold Stories’.
According to Maurice and Shrem, Mt. GoX acquired almost “70-80% market share of all Bitcoin trading globally” which was quite a large share for one decentralized exchange to have. However, according to Shrem’s lens Mt. Gox was the “largest and most central company to the Bitcoin eco-system”. He also explained how in 2013-14, the largest Bitcoin exchange was an important factor for anyone trading Bitcoin.
However, Mt. Gox faced an unforeseen hindrance when 850k BTC went missing [or stolen] from Bitcoin circulation. According to the Wiz, the days before Mt. Gox shut were “really painful” as people couldn’t trust them anymore.
Shrem highlighted that there were two Bitcoin options available on the exchange at that point; one was the original Bitcoin [BTC] and other was Mt.Gox’s Bitcoin, which “were these fake Bitcoins that you could trade in Mt.Gox’s system”. This led to the formation of a secondary market buying Gox BTC, which was “essentially Bitcoin which couldn’t be removed from Mt.Gox before it imploded”.
However, Shrem claimed that even though Mt.Gox imploded, the market created its own token as debt, even as Bitfinex claimed to have created the first token as debt. Wiz noted that Josh Jones, a creditor at Mt.Gox, created a system to exchange this Mt.Gox BTC for real BTC. Wiz noted:
“Mt.Gox had this feature where you could internally transfer Bitcoins between Mt.Gox accounts and Josh Jones had created this system on top of that so that you can send your balance to his accounts and then that would be your os that will be your Bitcoin builder exchange balance, you would have Gox BTC at that time which you could trade for real BTC.”
The crypto users at the time could trade this Gox BTC for real BTC at a discounted rate and get out of the mess which was left behind following the hack.
The post Charlie Shrem claims Mt.Gox was the first to create ‘token as debt’, not Bitfinex appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum [ETH] and Tron [TRX] Price Analysis: ETH and TRX witness steady growth

After the recent pullback of Bitcoin, the market was forced to fall drastically, Ethereum saw a steady recovery post the fall. Ethereum ranked number 2 overall and was priced at $259.12, with a market cap of $27.5 billion. The 24-hour trade volume came up to $23.62 billion out of which, BitMEX contributed 13.94% via XBT/USD. ETH saw a price surge of 9.85% in the last 24 hours, at press time.
Tron, ranked eleventh overall was priced at $0.0294, with a market cap of $1.96 billion. The 24-hour trade volume came up to $683 million, out of which, BW.com contributed 8.09% via the TRX/USDT pair. A price surge of 9.64% was seen by TRX in the last 24 hours.
1-Day – ETH
Source: TradingView
The one-day chart of ETH showed an uptrend from $150.8046 to $264.1566. The support points were seen at $84.4047, $104.1055 and $153.1049. The point of correction was seen at $264.7427.
The Chaikin Money Flow indicated that the inflow of capital into the ETH market was more that the outflow.
The MACD indicator showed a bullish crossover.
The Relative Strength Index put the coin in the overbought zone.
1-Day – TRX
Source: TradingView
The one-day chart of TRX showed an uptrend from $0.0132 to $0.0236. The support points stood at $0.0126, $0.0225 and $0.0255. The resistance was seen at $0.0307.
The Parabolic SAR indicated a bullish trend as the dotted markers were under the candles.
The Bollinger Bands indicated volatility in price as the band expanded.
The Relative Strength Index indicated a bullish trend as the graph was closer to the overbought zone.
Conclusion
The one-day charts of ETH and TRX are in a bullish market if the indicators are to be believed.
The post Ethereum [ETH] and Tron [TRX] Price Analysis: ETH and TRX witness steady growth appeared first on AMBCrypto.
Source: AMB Crypto