Despite The Rivalry, JP Morgan Didn’t Move XRP This Week

When JP Morgan Chase announced that they were getting ready to create a stablecoin, the crypto world seemed to explode. However, less than a week after the announcement by the bank, Ripple native token XRP, was able to perform strong.
This is because the stablecoin is being dubbed as a rival to Ripple as it aims to facilitate client transactions. Even though most cryptocurrencies got a significant boost in price on 18th Feb, XRP has been able to continue an increase in value in spite of what has been a hectic week for the token.
Two weeks ago it was announced to us as a Valentine’s gift that JP Morgan would be designing a cryptocurrency in order to improve the efficiency of client transactions. JP Morgan is one of the biggest and most well known Wall Street financial organisations in the world and so the announcement that they would be creating a cryptocurrency is extremely bullish news.
The coin will be called JPM Coin and will be classed as a stablecoin as the value of the coin will be tethered to the US dollar.
According to the banks head of Digital Treasury Services and Blockchain, Umar Farooq, the new cryptocurrency will work like so:

“When one client sends money to another over the blockchain, JPM Coins are transferred and instantaneously redeemed for the equivalent amount of U.S. dollars, reducing the typical settlement time.”

Ripple Similarities
It didn’t take long for members of the community to see the similarities between the JPM Coin and Ripple’s xRapid Service. The San Francisco based blockchain firm has had many financial institutions in their crosshairs over the past 12 months to get them on board with the xRapid service.
In a similar way to the XRP token, the JPM Coin serves as liquidity for the xRapid service. For those that don’t know, xRapid is a product which significantly cuts down on transactions fees and waits times when sending money to different borders.
Some community members claim that the announcement of the JPM Coin could be a market tactic which is timed at the same time as the recent industry development surrounding the approval of a Bitcoin ETF.
The Bitcoin ETF seems to be able to become a reality at some point this year and institutional investors are being forced to find their ground on the crazy world that is cryptocurrency. With JP Morgan being such a massive bank, this would mean giving the appearance of forward thinking even if the JPM Coin is more theoretical.
Source: Crypto Daily

Bitcoin [BTC] worth $300,000 stolen by scammers in email-based “Sextortion” racket

Cyber criminals have targeted the cryptoverse once again, absconding with over $300,000 in Bitcoin [BTC] this time. The act was committed through a series of blackmail campaigns weaponized via emails, dubbed the “Sextortion” scam.
The scam began in 2017, but it piques the interest of the larger community only after its list of victims grew in mid-2018. According to research by Digital Shadows, a UK-based digital risk assessment firm that tracked over 792,000 targeted emails, Bitcoin in the range of $300,000 was stolen from over 3,100 unique BTC addresses.
The report further stated that the funds were then deposited in as many as 92 Bitcoin addresses. The firm further suggested that the criminals engaged in “sextortion” and extorted an amount totaling $540 in Bitcoin from each victim.
The report defined “sextortion,” as follows,
“Spam campaign claiming to have footage of recipient watching pornography. Included threats to publicly release video.”
Victims of this scam were sent an email with a threat that an explicit video of them was recorded, via their webcam, and would be floated on the Internet if a certain amount of Bitcoins were not sent to a given address.
Digital Shadows reported a divergence of emails sent to victims, with some showing bare understanding of how to craft an email and how its distribution worked, resulting in some of them being deposited in the spam folder. Others were well curated and sent from newly created Outlook email addresses.
The scam was operated from a number of locations, or rather IP addresses. According to the report, the highest proportion of the emails disseminated from Vietnam (8.5 percent), Brazil (5.3 percent), and then India (4.7 percent). The research firm further suggested that the email servers could have been compromised, which was why specifying an accurate location was inconclusive.
New accomplices were hired by the scammers to continue their ongoing operations and were paid a whopping $360,000 a year, the report said. Additionally, the criminals who had skills in network management, penetration testing and programming expertise were paid $768,000 a year.
Individuals who had a high net-worth were targeted for these scams on social media. Furthermore, the scammers also targeted the victim’s marital status, using it to form an online relationship with a married person and threatening to reveal details of the same if the ransom in Bitcoins was not paid.
Rafael Amado, a senior strategy and research analyst at Digital Shadows further elaborated that social media sites like LinkedIn were primarily targeted to find the right victim. He stated,
“Using it can help identify a potential victim’s job, likely salary and firms they have worked for. They may also disclose details of family members, marital status and their location. If this is supplemented with breach data such as passwords then it can make an extortion attempt more potent.”
The post Bitcoin [BTC] worth $300,000 stolen by scammers in email-based “Sextortion” racket appeared first on AMBCrypto.
Source: AMB Crypto

5 Mistakes to Avoid in Cryptocurrency Trading

Financial technology has paved the way to limitless possibilities in trade, ecommerce, and even the foreign exchange market. Investors may now put money into digital coins even without prior trading experience, and one of Fintech’s main trading ground is in the form of cryptocurrency that’s running on blockchain technology.
Cryptocurrency is considered one of the latest and most talked about financial investments in the 21st century. With an ongoing stream of investments that aim to improve blockchain technology, it has emitted a polarizing reception from traders as well as financial institutions, where some even label it as either a revolution or a hindrance.
In order to start your trading career on the right path, here are some common mistakes you need to avoid:
1. Not using the right cryptocurrency exchange platform
With so many crypto coins to choose from, one can easily become overwhelmed especially if they are still in the beginning phases of their career. When deciding which coin to invest in first, it helps to use professional comparison of cryptocurrency exchanges in order to get the right coin at the right price.
Here are some of the ways to make sure you’re choosing the correct cryptocurrency exchange platform:

Check its existing reputation. Since financial technology is a fairly new industry, there are a lot of eyes fixed on it. Because of this fact, when there’s something positive or negative about a platform, you’ll definitely read about it. Make sure that they are legitimate and not paid reviews.
Most cryptocurrency platforms require commissions but they could come in a number of ways. It’s important to check the terms of payment, and how much they expect to earn. Just to give you an idea, the average commission is around 0.2 percent.
Trading pairs available. The basic rule is that the more currencies are being offered in the platform, the better it is for cryptocurrency traders because it provides access to variety.
In trade, liquidity refers to the ability of the coin or currency to transact in a smooth and efficient manner. If you’re planning to trade in large amounts of crypto coins then make sure you’re trading in a platform with high liquidity so that you can have high profits. A competent marketplace will have high liquidity and a lot of trade activities.

Once you have invested in the right platform, you can then find ways on how you can manage your investments while still making a profit out of your career. Additionally, it also helps to make sure to check on whether or not cryptocurrency is legal in your country before starting first.
2. Buying into the hype
When a coin suddenly rises to a significant amount, many investors are willing to strike while the iron is hot only to find that its current value can easily sink in no less than a few days. This phenomenon stems from their psychological fear of missing out or FOMO, which usually goes unnoticed until it’s too late.
To avoid falling prey into this notion, consider doing your research first to understand the features of said coin. Enumerate its features and see how it differs itself from other options. If you can imagine yourself making long-term investments with it then it’s certainly worth investing in. However, to avoid incurring losses, start with a small amount first and gradually increase it later if the market conditions are favorable.
3. Falling for Pump-and-Dump scams
The problem with FOMO is that certain companies can use this to their advantage and create schemes known as Pump and Dumps or PNDs. This scenario usually happens when a seemingly unknown coin suddenly skyrockets in value as little as 24 hours, in order to create a buzz and get a lot of investors.
Companies may accompany this scam with a fake Twitter account of a celebrity, urging users to start investing as early as today. This scam is called a pump and dump because scam artists can seemingly pump the price and then dump it on investors who simply didn’t know any better. In order to avoid falling for such scams, it’s important to do a background check before putting your money into any cryptocurrency.
4. Not doing your digital currency research
Considering that a cryptocurrency market is a volatile place, it’s best that one leaves no stone unturned when it comes to keeping investments safe. This can be applied to any aspect of your trading career. Whether you are:

Investing in a coin with little to no information
Working with partners from a company with a shady past
Encouraged by friend’s to invest in the latest coin
Following the advice of financial advisers on social media

Investors should play an active role in ensuring they are not victims of any fraudulent activity. To do this, consider researching on all aspects of your activity before making a decision. This includes the company history, crypto coin features, former projects of the team members and the whitepaper. 
5. Getting too emotional
Getting too emotional usually happens when the price of a currency goes down. Many investors who have spent a hefty portion of their investment may feel discouraged only to find that said coin is decreasing in value. To make the most of it, these investors may sell their investment to make up for their losses. While it may seem responsible, this step can actually be irresponsible since you are playing into your emotions.
While selling can certainly earn you a profit, you need to stop and think first by asking these questions:

Did any of the fundamentals change?
What factors were made that would otherwise affect the price?
Does this coin still have potential to achieve my long-term goals?

Some of these questions can certainly change your perception if you reflect on them for a while. This prevents you from making any rash decisions you might regret later.
Conclusion
Regardless of the reception that cryptocurrency receives, there is no doubt that they are not going anywhere any time soon. With the ongoing proposal of regulations that ensure secure circulations, investors from years past will surely get a chance to see that their previous investments were certainly worth the risk.
The post 5 Mistakes to Avoid in Cryptocurrency Trading appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum [ETH] Long-Short Ratio Reaches November 2018 Level, Does it Mean Another 60% Crash Incoming?

Unlike any other previous times, the short term rally that occurred on the last weekend was led by Ethereum as it surged 10 percent. The 3rd largest cryptocurrency made its way from $120 to $149 in this last week.
Looks like the upcoming Constantinople hard fork on February 28th is fueling the Ethereum price as it is currently changing hands at $147.71 with 24-hours gains of 0.89 percent, ETH is also in the green by 0.71 percent, at press time. According to the data provided by Coinmarketcap, it is currently managing the trading volume of $3.67 billion.
As Alex Kruger, the economist and trader shares,
“Constantinople this time around should *not* be a short term bullish event. But narratives matter and the narrative says bullish, and some big fish loaded up on ETH recently.”
He had previously shared this as well, that the upcoming Ethereum fork is “not fundamentally bullish,” rather is bearish as “by postponing the time bomb, the fork will result in a smaller supply reduction.”
“Need to differentiate between, ETH issuance dropping, which has been happening noticeably since December, and the fork, which will result in *higher* issuance than without it. The fork will stabilize ETH issuance at levels about 1/3 lower than November’s.”
However, this fork has the Ethereum traders bullish as the ETH/USD longs are nearing all-time high (ATH) while the shorts are continuously dropping lower. The current long-short ratio is nearing the high that was before the November crash happened.
“Last time ETH longs/shorts ratio was this high was before the November 60% crash. Constantinople comes Feb/25. Cryptos often raise in anticipation of a fork -long the narrative- reach a local top days before, and crash into the fork. Mind the current crypto pump was ETH driven.”

The current position of ETH is not painting a good picture and given the fact that the last time this extreme level predated the November sell-off, we might see another crash incoming. Well, Ethereum just might fuel the dump that is expected by the market to hit the new lows and bottom out.
The post Ethereum [ETH] Long-Short Ratio Reaches November 2018 Level, Does it Mean Another 60% Crash Incoming? appeared first on Coingape.
Source: CoinGape

See How Apple Are Utilising The Blockchain

Apple Inc are best known for their flagship iMac and iPhone products, though historically, of course, it all really started (in the mainstream at least) with the launch of the iPod. Apple Inc is a US-based multinational company that specialises in the design and development of various hardware and software products and are often considered as Microsoft’s only true rival in terms of tech dominance. With an estimated revenue of $265.595 billion in 2018, it’s clear to see that Apple are frankly huge.
It’s also clear that such a large tech firm will wish to explore blockchain technology sooner, rather than later. No, Apple aren’t launching their own Applecoin or iCoin just yet, however, according to reports out during the middle of last week, Apple Inc have confirmed that they will be using blockchain technology to explore new methods of manufacture that aim to make Apple’s hardware products far more environmentally friendly.
According to CCN:

“When you think of Apple, you think iPhone, iPad, or even privacy concerns. You probably don’t think conflict minerals used in the manufacturing of its devices or how blockchain could prove the cure for an ethical supply chain. Well, you should. The tech giant has filed a report with the U.S. Securities and Exchange Commission indicating it is studying ways to implement Blockchain in some form or fashion.”

Now, within their filing Apple have not actually said they will be using blockchain technology, rather they simply hint at the fact that they could use the blockchain in order to find solutions designed to make their sourcing of natural minerals and products more ethical. This comes after Apple pledged to work in a more efficient manner back in 2018:

“In 2018, Apple chaired the board of the Responsible Business Alliance, served on the Steering Committee of the RMI, continued its participation in the European Partnership for Responsible Minerals, and served on the Governance Committee of the Public-Private Alliance for Responsible Minerals Trade. Apple also contributed to several RMI working groups, including, but not limited to, the working groups for tin, gold, and other minerals; the smelter engagement team; the Blockchain team; and the minerals reporting template team.”

Blockchain technology can seriously transform the way companies like Apple source the products that they need to make intricate pieces of hardware that go into the iPhone and the iMac. Audit trails, database maintenance and of course, product authentication can all benefit from blockchain integration, perhaps Apple have finally realised that?
Source: Crypto Daily

Brazillian Bank Partners With Gemini Crypto Exchange – Aims To Use Regulated Stabelcoin

Gemini cryptocurrency exchange, led by American rowers and Internet entrepreneurs – Cameron and Tyler Winklevoss are on bulletins again. As per the latest report, a Brazilian bank ‘BTG Pactual’ intends to utilize ‘Gemini dollar’ by partnering with Gemini cryptocurrency exchange.
Bank Step Ahead with Digital Token
Per the reports and the statement by CEO Tyler Winklevoss, the Banco BTG Pactual (a Brazillian investment bank) aims at utilizing ‘U.S.dollar backed stabelecoin which is a Gemini dollar introduced by one of the largest trading platform – the Gemini exchange.

“The tokenization of real assets is a major step forward in the evolution of the #crypto economy. Working w/ BTG Pactual to leverage GUSD as the stablecoin for ReitBZ helps move the industry in the right direction” – our CEO @tylerwinklevoss via @coindesk https://t.co/m2cllDY6HV
— Gemini (@Gemini) February 22, 2019

With this initiative, the bank steps ahead to raise millions of dollars via security tokens offering. Particularly, it targets $15 million and further plans to establish a ‘secondary market’ to serve better liquidity to the tokens. The essence of Bank offering tokens is that ‘it enables investors to contribute to the Brazilian real estate market’ wherein the international investors can purchase their native token called ‘ReitBZ (RBZ).
“The technology associated with this offering allows us to be a pioneer in providing access to asset classes that have historically been difficult for global retail investors to access. We are constantly exploring innovative ways to promote, democratize and encourage the development of financial and capital markets.” Said Bank CEO – Roberto Sallouti,
So inconsequent to the partnership, Gemini dollar will be the stablecoin for Bank’s ReitBZ. To note, Gemini is already a regulated platform and quite often encourage regulations via their promotional strategies. Furthermore, the bank with the collaboration would receive investment capital and ‘distribute dividends on ETH blockchain platform. It said that the Bank would work in compliance with possible AML and KNY requirements as well.
Addressing the similar context, Gemini CEO Tyler Winklevoss said;
“The tokenization of real assets is a major step forward in the evolution of the crypto economy. … Working with BTG Pactual to leverage the Gemini dollar as the stablecoin for ReitBZ helps move the industry in the right direction,”
What do you think about BTG Pactual Banks’ collaboration with Gemini exchange? share your opinion with us. 
The post Brazillian Bank Partners With Gemini Crypto Exchange – Aims To Use Regulated Stabelcoin appeared first on Coingape.
Source: CoinGape

Bitcoin SV [BSV] Price Analysis: Bears look to capitalize as market begins to stabilize

The cryptocurrency market is stabilizing around the $135-billion mark, with major coins in an equal mix of red and green. Bitcoin SV [BSV], now out of the top-10 list, hasn’t been able to capitalize on the bull run and stake a claim to the top 10.
Bitcoin SV rose against the US dollar by a mere 0.8 percent and was trading at $65.75 at press time. The coin caps off the “billion-dollar club,” being the last coin in the global coin market to post a 10-figure market cap of $1.15 billion.
In terms of exchange dominance, BSV ranks highly on IDCM, BitForex, and IDAX via the trading pairs BCHSV/USDT, BSV/USDT, and BSV/BTC.
1-hour
Source: Trading View
Bitcoin SV shows a slight decline in recent price movement, but is not expected to trade in pre-18 February levels of $63. The coin shot up during the aforementioned date from $63.52 to $69.71, followed by two successive downtrends from $70.22 to $67.19 and $68.66 to $66.10.
The nChain spearheaded project finds immediate support at $65.49, which the coin crossed over at 0700 UTC on 22 February. The coin finds immediate resistance at $67.23, a fair way off from the current price of the coin.
The Bollinger Bands pointed towards a severe decline in the volatility of the coin, while the Moving Average line showed a tussle between the bulls and the bears.
The Awesome Oscillator showed that the coin is trading above 0. However, since the concluding lines were red, bearish activity may be expected.
The Relative Strength Index showed an increase in investor interest as the RSI increased from 46.71 to 50.64.
1-day
Source: Trading View
The BSV one-day chart showed that the coin was trading sideways with mild bearish movement before the collective market surged in February. A major downtrend was noticed from $113.56 to $69.35, which the coin is still recovering from. Previously, the same the coin shot up from $74.32 to $115.47.
Bitcoin SV finds immediate support at $61.21 and an immediate resistance level of $69.14.
The Parabolic SAR indicated that the coin is enjoying a bullish run, as the dotted lines were aligned below the coin’s trend line.
The Chaikin Money Flow tool showed that the inflow of money into the coin had declined as the CMF line is below 0.
The Fisher Transform Line pointed to a crossover between the two lines, with the bearish Trigger Line edging looming over the Fisher Line.
Conclusion:
Bitcoin SV has been riding a stabilizing wave while maintaining a relatively small price margin, even as the rest of the market consolidates their position and market cap. While the bulls have sustained some stable activity, this is unlikely to continue as the indicators suggest that a bear attack may be in the offing soon.
The post Bitcoin SV [BSV] Price Analysis: Bears look to capitalize as market begins to stabilize appeared first on AMBCrypto.
Source: AMB Crypto

BitConnect back under the FBI’s radar after Bureau solicits new information from Ponzi scheme victims

BitConnect, the biggest Ponzi scheme in the history of cryptocurrency, is back in the limelight after a long time. This time, the platform is in the news after word broke out that the investigative agency is gathering intelligence and information pertaining to BitConnect.
BitConnect was one of the most popular platforms in the cryptocurrency space, with its token, BCC, listed among the top 20 cryptocurrencies of the world. The platform was launched in November 2016 and gained popularity towards the end of 2017.
The reason behind the platform’s rise was its multi-level referral feature that guaranteed a return of 1% per day. This was soon identified as a Pyramid Ponzi scheme, with even Vitalik Buterin, the creator of Ethereum, coming out to criticize the platform.
Soon after its rise, the platform fell under the radar of regulatory bodies. This included UK’s regulatory body that issued a notice to the exchange, asking the platform to prove its authenticity within two months. This was followed by a Cease and Desist order from the Texas State Securities Board.
Finally, the downfall of BitConnect’s token was marked by the spectacular fall of the token’s price from around $463 to $5 in a matter of days. Soon after this, the exchange platform was shut down, deserting several investors.
Now, the FBI seems to have taken an interest in the famous cryptocurrency Ponzi scheme as they announced they were “Seeking Victims in BitConnect Investigation.” The FBI is collecting voluntary responses from the victims of the Ponzi scheme as they claim that it would be “useful in the Federal assessment of this matter.”
The primary information collected by the Bureau is the name, contact number and email address of the victims, along with questions pertaining to the matter. Victims were required to reveal whether they were directly contacted by the FBI in the past, how they were introduced to BitConnect, their investment in the Ponzi scheme, username and email address associated with BitConnect and whether they were referred to BitConnect by anyone.
However, this is not the first time the FBI and BitConnect have crossed paths. Previously, Calen Powell, the Promoter of BitConnect, announced in a YouTube video that he was detained by the FBI. He claimed to be restrained and questioned by the FBI, along with having his electronic devices and money confiscated when he tried to enter the United States.
The post BitConnect back under the FBI’s radar after Bureau solicits new information from Ponzi scheme victims appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] Price Analysis: Coin reunites with the bull after escaping the bear trap

The cryptocurrency market is witnessing a rare bull run. Bitcoin [BTC], the largest cryptocurrency in the market successfully reversed the trend from a bearish to a bullish one. The cryptocurrency was facing its longest bear market, but has managed to register growth as the market trend changed.
At press time, the coin was valued at $3,984.59 with a market cap of $69.9 billion. The coin registered a 24-hour trade volume of $7 billion while noting a rise of 0.81% over the past day. The coin reported a growth of 9.81% over the past week and is continuing to rise by a meager 0.06% within the past hour.
1-hour
Source: TradingView
According to the one-hour chart for the cryptocurrency, BTC observed a strong uptrend from $3,678.8 to $4002.4. The coin dipped and noted a minuscule downtrend from $4,064.1 to $4,025.6. The coin drew resistance at $4,064 while support was noted at $3,989.
Bollinger Bands appear to be diverging, suggesting an increasing volatility in the market. The moving average line is under the candles marking a bullish market.
Awesome Oscillator marks a bullish market gaining momentum.
Chaikin Money Flow also points towards a bullish market as the marker is above zero.
1-day
Source: TradingView
The one day chart of the coin marks a downtrend from $6184.9 to $3460, while another downtrend was marked from $6,459.1 to $4,055. BTC marked an uptrend from $3,300.1 to $3,676.4. The coin noted resistance at $4,168.4 while marking support at $3,438.4.
Parabolic SAR indicates a bullish market as the markers have aligned themselves under the candlesticks.
Relative Strength Index indicates that the buying and the selling pressures are evening each other out.
MACD line us over the signal line marking a bullish trend.
Conclusion
As per the indicators from both the one hour and one day charts, a bullish run is forecasted for Bitcoin, [BTC].
The post Bitcoin [BTC] Price Analysis: Coin reunites with the bull after escaping the bear trap appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC]: John McAfee predicts Bitcoin to breach the $1 million mark on 31 December, 2020

John McAfee, the founder of the software company, McAfee Associates, stipulated the exact day, a day he calls the ‘hard date,’ when he believes that Bitcoin will achieve the $1,000,000 feat. This was in response to Jesse Lund’s recent statement on the future of Bitcoin.
Lund, Vice President of Blockchain and Digital Currencies at IBM spoke about IBM’s latest project – World Wire payment network, XLM and Stellar and the future of BTC in an interview. When asked about the cryptocurrency’s valuation for the year, he said:
“I’ll go with $5000 but let me say that I have a long term outlook.”
The Vice-President further said that he believed that Bitcoin will be worth a million dollar someday. He added:
“I like that number, because if Bitcoin is at $1 million, then a Satoshi will be equal to one U.S. penny, which would mean that there is over $20 trillion of liquidity in this network and this $20 trillion of liquidity would massively change the global financial services landscape.”
It is in response to these statements that McAfee posted a tweet of his own,
“People are waking up to the fact that Bitcoin will be $1,000 000. But when? “Someday”. “Maybe 5 years”. “Within a decade”. I’m the only one giving you a hard date: Dec 31st, 2020.”
Jesse Lund made this prediction on a YouTube channel, Crypto Finder where he also discussed the need for a less cumbersome cross-border payment network and how IBM planned to solve the same. Speaking about the problem of cross-border payments, the Vice President of Blockchain and Digital Currencies at IBM, asserted the need for a requisite channel that facilitated an instant transaction execution with no technical barrier.
John McAfee’s present prediction comes a few years after made a similar prediction for the same cryptocurrency a few years ago. Back in July 2017, McAfee predicted that the price of the cryptocurrency would reach $500,000 in three years. The present prediction suggests that McAfee believes BTC to grow in value at two times the speed as it did back in 2017.
Further, McAfee also exuded confidence in his price prediction, promising to do anything requested of him on Twitter.
This isn’t the first time John McAfee is in the news this year. Since declaring his candidacy for the US Presidency, McAfee has been in the news for his controversial statements and escapades. He is presently living in exile, away from the United States after being pursued by the Internal Revenue Service for ‘unspecified financial crimes.’
The post Bitcoin [BTC]: John McAfee predicts Bitcoin to breach the $1 million mark on 31 December, 2020 appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Cash [BCH] Price Analysis: Coin breaks resistance as bulls look to settle down

Bitcoin Cash [BCH] the sixth largest coin in the market, is exhibiting similar movements to the collective market, with no isolated strides.
At press time, Bitcoin Cash was up against the US dollar by 1.84 percent and was trading at $145.02. The market cap of the coin stands at $2.55 billion, over $450 million behind Litecoin [LTC].
In terms of exchange dominance, Bitcoin Cash trading volume ranks highest with P2PB2B in the trading pairs BCH/BTC and BCH/USDT, accounting for $28.91 million or 8.39 percent and $18.77 million or 5.44 percent.
1-hour
Source: Trading View
The one-hour chart for Bitcoin Cash shows stabilized movement, with minor downtrends post the massive spike earlier this week. Two successive downtrends were seen post-February 19. The first one dragged the price down from $148.32 to $142.84 followed by the next downtrend, which pulled down the price from $144.73 to $140.48.
Bitcoin Cash finds immediate support at $139, which the coin is comfortably rising above. The immediate resistance level of the coin stands at $142.98, which the coin has broken past, buoyed by the bulls of the collective market.
The Bollinger Bands show that the coin’s volatility is continuing. The Moving Average line points to a bullish trend.
The Fisher Transform Line shows that a bullish crossover took place as the Fisher Line is over the Trigger Line presently.
The Relative Strength Index of the coin shows a spike in investor interest, which has jumped from 40.51 to 56.52.
1-day
Source: Trading View
Bitcoin Cash shows a greenish uptick off-late in the one-day chart, following the massive price increase experienced on 18 February. Since the year began, the coin has dipped from $158.03 to $121.94, following which the recent uptrend pushed up the price from $120.57 to $143.61.
The immediate support level of the coin stands at $108.59, but due to the bulls, the same has risen to $119.82. Bitcoin Cash has broken the immediate resistance level, which stands at $131.93.
The Parabolic SAR shows that the coin is riding a bullish wave as the dotted lines are below the coin’s trend line.
The Chaikin Money Flow tool shows that the inflow of money has increased as the CMF line is above 0.
The Awesome Oscillator indicates that the bulls are incoming as the AO line is above 0 and the concluding bars are green.
Conclusion:
Bitcoin Cash pushed past several resistance levels beginning with the February 18 rise, which is noticeable in both the short-term and the long-term charts. The short-term indicators point to a stabilized volatility as the investor interest and the coin’s price begin to rise. In terms of the long-run indicators, bulls are dominating and now look to find a place and a price to settle down at.
The post Bitcoin Cash [BCH] Price Analysis: Coin breaks resistance as bulls look to settle down appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum (ETH) Long Positions Skyrocket as Constantinople Nears, But Analysts Expect Post-Fork Plummet

Over the past month Ethereum (ETH) has seen some overwhelmingly positive price action, surging from lows of $104 to highs of over $150. Part of this price surge may be due to its upcoming Constantinople hard fork, which will offer the crypto multiple enhancements and will reduce its future inflation rates, which will likely be positive for the cryptocurrency in the long-term.
Despite this, many analysts are now warning traders that Ethereum will likely see increased selling pressure at the time of, or after, the event, which is in-line with the age-old trader credo of “buy the rumor, sell the news.”
Ethereum’s Upcoming Constantinople Hard Fork May Lead ETH’s Price to Plunge
At the time of writing, Ethereum is trading up nearly 3% at its current price of $149. Many analysts have claimed that Ethereum’s nearly 50% surge from its February lows has led the entire crypto markets to follow suit, and this price surge may be, in part, due to anticipation for Constantinople, which is estimated to occur sometime next week.
Alex Krüger, an economist who focuses primarily on cryptocurrencies, recently spoke about Ethereum’s current price action, noting that a disturbing trend is unfolding with its long to short ratio, which is currently at its highest level since just prior to ETH’s November crash.
“Last time $ETH longs/shorts ratio was this high was before the November 60% crash. Constantinople comes Feb/25. Cryptos often raise in anticipation of a fork -long the narrative- reach a local top days before, and crash into the fork. Mind the current crypto pump was ETH driven,” Krüger explained, further adding that Constantinople is widely expected to occur around February 28th, not the 25th.

Last time $ETH longs/shorts ratio was this high was before the November 60% crash. Constantinople comes Feb/25. Cryptos often raise in anticipation of a fork -long the narrative- reach a local top days before, and crash into the fork. Mind the current crypto pump was ETH driven. https://t.co/jc4hLoWifb
— Alex Krüger (@krugermacro) February 22, 2019

UB, a popular cryptocurrency trader on Twitter, recently shared his thoughts on Ethereum, noting that from a technical perspective ETH looks weak, and may see a pullback to levels as low as $122 in the near-term.
“$ETH – ETH stalling at the Area of Interest makes an argument for distribution. A chart that looks like this (little to no pullback on a run up) isn’t something I would long. I’m looking at a pullback as far as ~122. Yes I know Constantinople etc etc. I trade the charts.”

$ETH – ETH stalling at the Area of Interest makes an argument for distribution.
A chart that looks like this (little to no pullback on a run up) isn't something I would long.
I'm looking at a pullback as far as ~122.
Yes I know Constantinople etc etc. I trade the charts. pic.twitter.com/H5sA9uI0jn
— UB (@CryptoUB) February 22, 2019

Despite Bearishness, Ethereum Does Have Buying Support Around Current Prices
Although most traders are currently approaching Ethereum with caution – as the effect that events like Constantinople can have on price can be unclear – one analyst is quick to point out that ETH does have a lot of buying pressure around its current price levels, which could be bullish.
“$ETH… Wonder where the buy wall is,” Hsaka, a popular cryptocurrency analyst on Twitter, concisely noted while referencing an ETH / USD chart.

$ETH
Wonder where the buy wall is… pic.twitter.com/NUusWMZZPJ
— Hsaka (@HsakaTrades) February 22, 2019

As Constantinople draws nearer, traders and analysts will likely gain greater insight as to what effect the hard fork will have on its price in the near-term.
Featured image from Shutterstock.
The post Ethereum (ETH) Long Positions Skyrocket as Constantinople Nears, But Analysts Expect Post-Fork Plummet appeared first on NewsBTC.
Source: New feedNewsBTC.com