Crypto Market Targets $300 Billion Cap: Bitcoin Cash, EOS, TRX, ADA Analysis

The total crypto market cap gained momentum and broke the $260.0B resistance area.
Bitcoin price broke the main $9,000 resistance area and traded close to $9,400.
EOS price traded nicely above the $6.50 and $6.75 resistance levels.
Bitcoin cash price is trading above the $420 level and it could continue to rise towards $440.
Tron (TRX) price broke the $0.0330 resistance and it might continue to rise.
Cardano (ADA) price is slowly moving higher towards the key $0.1000 resistance.

The crypto market cap is surging above $265.0B, with sharp gains in bitcoin (BTC) and Ethereum (ETH). EOS, Tron (TRX), BCH, ripple, ADA, BNB, and other altcoins are trading with a positive bias.
Bitcoin Cash Price Analysis
After a successful close above the $400 level, bitcoin cash price climbed higher steadily against the US Dollar. The BCH/USD pair broke the $410 and $420 resistance levels. The pair is now trading nicely above the $425 level and it might continue to rise in the coming sessions.
On the upside, an initial resistance is near the $432 level, above which the price is likely to test the $440 resistance. On the downside, an initial support is near the $420 level, followed by $410.
EOS, Tron (TRX) and ADA Price Analysis
EOS price gained significantly after it broke the key $6.50 resistance level. The price climbed above the $6.75 resistance and the bulls were successful in a close above the $7.00 level. The next key resistances are near the $7.10 and $7.12 levels.
Tron price is rising slowly and it recently traded above the $0.0330 level. TRX price is currently climbing and it could test the $0.0340 resistance level. If there are more upsides, the price is likely to test the $0.0350 level in the coming sessions.
Cardano price is currently trading above the $0.0900 level, with a positive bias. ADA price must break the $0.0950 level to test the main $0.1000 resistance levels. If the bulls succeed in clearing $0.1000, there could be sharp gains towards the $0.1100 level.

Looking at the total cryptocurrency market cap hourly chart, there was a strong upward move after there was a break above the $255.0B and $260.0B resistance levels. The market cap even broke the $270.0B level and recently tested the $278.0B zone. It corrected lower, but the $264.0B level acted as a strong support. The current price action is positive, suggesting more gains above the $275.0B and $280.0B levels. If all goes well, the crypto market could even test the $300.00B level in the coming days. Therefore, more gains are possible in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins.
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Crypto Market Rallies $15 Billion: Bitcoin Cash, Litecoin, EOS, XLM Analysis

The total crypto market cap gained momentum and broke the key $252.0B resistance area.
Bitcoin price surged above the $8,500 and $8,650 resistance levels.
Litecoin (LTC) price remains in a strong uptrend and is trading nicely above $134.
Bitcoin cash price is grinding higher towards the $420 and $425 resistance levels.
EOS price is back above the $6.50 level and it may even break the key $6.75 resistance area.
Stellar (XLM) price is about to gain momentum above the $0.1250 level.

The crypto market cap gained sharply, with positive moves in bitcoin (BTC) and Ethereum (ETH). Altcoins such as LTC, ripple, bitcoin cash, EOS, TRX, and stellar are also moving higher.
Bitcoin Cash Price Analysis
Bitcoin cash price finally broke the $400 resistance against the US Dollar to move into a positive zone. The BCH/USD pair even cleared the $405 resistance and it is currently trading above the $410 level. An immediate resistance on the upside is near $420, above which there are chances of more gains above $425.
On the downside, the $410 level might act as a decent support, below which there is a risk of a drop back towards the $400 or $395 support.
Litecoin (LTC), EOS and Stellar (XLM) Price Analysis
Litecoin price settled above the $130 level and it is currently moving higher. LTC price is currently up more than 3% and it is likely to climb above the $135 and $138 levels. The main resistance for the bulls is near the $140 level. On the downside, the recent resistance at $130 could provide support.
EOS price managed to gain traction above the $6.45 and $6.50 resistance levels. The price is now trading nicely above the $6.60 level and it might continue to rise in the near term. The next key resistances are near $6.70 and $6.75.
Stellar price is trading well above the $0.1200 support level and it is slowly moving higher. XLM price is about to break the $0.1250 resistance and it could continue to rise towards the $0.1280 and $0.1300 levels.

Looking at the total cryptocurrency market cap 4-hours chart, there was a decent upward move from the $246.0B swing low. The market cap broke the main $250.0B and $252.0B resistance levels. It added more than $10B and grinded above the $260.0B level. A swing high was formed near $263.1B and it is currently correcting lower. An immediate support is near the $257.0B level, followed by a connecting bullish trend line with support near the $255.0B level. As long as the market cap is above the $250.0B pivot level, there could be more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX, ICX, and other altcoins in the coming sessions.
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June’s Biggest Shakeups in the Crypto Game by the Numbers

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June’s Biggest Shakeups in the Crypto Game by the Numbers
COR Index published its latest monthly report of key crypto exchange data. The report is based on figures gathered from over 150 cryptos and the top crypto exchanges.
June’s Biggest Shakeups in the Crypto Game by the Numbers

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Source: CoinSpeaker

Crypto-Market Update: Bitcoin [BTC] Tests $8300 As Alts ETH, BCH Break Resistance, BNB new ATH

Bitcoin made a significant move above $8000 late on 12th June 2019. The total market capitalization of Bitcoin [BTC] which broke below $150 billion, is currently testing resistance at $8300. Nevertheless, the break above $8000 also instilled renewed confidence among the bulls.
The price of Bitcoin [BTC] at 5: 00 hours UTC on 14th May 2019 is. It is trading higher on a daily scale.
BTC/USD 4-Hour Chart on Coinbase (TradingView)
Litecoin [LTC], Bitcoin Cash [BCH] and Ethereum [ETH]
The rise in Litecoin [LTC] was the highlight of the cryptocurrency markets this week as the speculation around it began with less than 60 days to halving.
Litecoin [LTC] recorded a new yearly high at $145. The rise was witnessed in the past week as Litecoin broke above $100 and continued gaining with massive momentum. The price has corrected to $test $130 levels for the past two days.
LTC/USD 4-Hour Chart on Coinbase (TradingView)
Interestingly, while most altcoins traded slightly in the red on a daily scale, Bitcoin [BTC] and its two most popular forks showed positive volatility. BCH gained 4.5% late on 13th June to record a weekly high at $425. However, it plummeted in the following trading sessions; the price of BCH at 5: 00 hours UTC on 14th June 2019 is.
BCH/USD 4-Hour Chart on Coinbase (TradingView)
Ethereum also broke bullish above $260; the instantaneous rise was influenced by a hike in Bitcoin [BTC]. However, it too corrected as ETH/BTC traded 3% lower on a daily scale. Furthermore, a slight momentum shift towards Bitcoin from altcoins was also visible in the markets.
Binance [BNB] Coin New All-Time High
Binance reached a new All-Time High as the Exchange backed cryptocurrency has been making huge strides since the beginning of the year near about $6. The price breached the 35 dollar mark to record a near 500% rise since the beginning of the year.
BNB/USD 1-Day Chart on TradingView
Binance has become one of the largest brands of the cryptocurrency markets with CEO, CZ, leading the foundation to new heights. The cryptocurrency which is backed by the Exchange, has subsequently benefited from the growth of the Exchange as well.
Most of the other altcoins including XRP, EOS, Stellar and Tron also traded in the red. It was mostly influenced by Bitcoin’s bullish momentum and the rising uncertainty about the future of cryptocurrencies with Facebook’s cryptocurrency announcement on the horizon.
Nevertheless, Bitcoin Futures market has been flourishing as well in 2019, with CME and BitMEX logging record volumes. The much anticipated Bakkt Launch is also due in a couple of months, which is expected to revive investors spirits.
Do you think that Bitcoin’sDominance will increase significantly? Will the bull action continue? Please share your views with us. 
The post Crypto-Market Update: Bitcoin [BTC] Tests $8300 As Alts ETH, BCH Break Resistance, BNB new ATH appeared first on Coingape.
Source: CoinGape

Crypto Market Starts Fresh Increase: Bitcoin Cash, BNB, EOS, TRX Price Analysis

The total crypto market cap found support near $236.0B and jumped sharply above $245.0B.
Bitcoin price broke the key $8,000 resistance level to move into a positive zone.
EOS price broke the $6.40 and $6.50 resistance levels to start a decent recovery.
Binance Coin (BNB) is up more than 5% and it recently broke the $35.00 resistance.
Bitcoin cash price is above to break the $400 barrier to move into a bullish area.
Tron (TRX) price gained nearly 6% and it recently broke the key $0.0320 resistance.

The crypto market cap gained more than $10B, with positive moves in bitcoin (BTC) and Ethereum (ETH). Binance coin (BNB), BCH, tron (TRX), ripple, litecoin and EOS are currently gaining momentum.
Bitcoin Cash Price Analysis
After a major downside correction, bitcoin cash price found support above $360 against the US Dollar. The BCH/USD pair started a steady recovery and recently broke the $380 and $390 resistance levels. The pair is currently trading near $400, above which the bulls are likely to take control in the near term.
The next key resistances are near $410 and $420. If there is a downside move, the price might find bids near the $390 or $385.
Binance Coin (BNB), EOS, Tron (TRX) Price Analysis
EOS price remained stable above the $6.20 level and it recently recovered higher. The price broke the $6.25 and $6.32 resistance levels. Moreover, there was a break above the $6.45 and $6.50 resistance levels. The next stop for the bulls could be $6.60 or $6.65.
Tron price is gaining bullish momentum and it is currently trading up more than 5%. TRX price broke the $0.0300 and $0.0320 resistance levels. It is currently trading above the $0.0330 level and the next stop could be $0.0340. The main resistance for the bulls is near the $0.0350 level in the coming sessions.
Binance coin (BNB) is up more than 5% and it recently cleared the $34.00 and $35.00 resistance levels. BNB price is now consolidating above the $35.00 level, with an immediate resistance near the $35.40 and $35.50 levels. The main hurdle is near the $36.20 level.

Looking at the total cryptocurrency market cap 4-hours chart, there was a major upside break above the $236.0B and $240.0B resistance levels. The market cap broke the $246.0B resistance and tested the next important resistance near the $252.0B level. At the moment, the market cap is confined in a range and it might surpass the $252.0B resistance area. The next major resistance could be $258.0B or $260.0B. If there is a downside correction, the $244.0B or $242.0B level might act as a support. Overall, there are chances of more gains in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX.
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Bitcoin Cash: Roger Ver’s tweet highlights governments’ double standards

India’s proposed “draft bill” that was released by Bloomberg Quint earlier this week had caused a massive uproar in the crypto community. The lack of clarity and ambiguous cryptocurrency climate drove Zebpay, an app-enabled crypto exchange, from the country to Malta. The current version of the ‘draft bill’ renders mining, generating, holding, buying, selling or dealing in cryptocurrencies both “directly or indirectly” illegal in the country. This could potentially be a huge blow to the growing Asian cryptocurrency adoption.
The crypto regulatory climate in another Asian country, Indonesia is fairly better than India after the former announced rules which made it mandatory for the cryptocurrency futures exchange to be registered an approved before operating, thus, bringing clarity to the table. However, Roger Ver, the CEO of Bitcoin.com and a prominent face in the crypto realm, cited a banner which read “Use Rupiah in every transaction in Indonesia” and violation of which is a punishable offense,

Governments say monopolies are bad, but they’ll toss you in jail for competing with their own monopoly. pic.twitter.com/fbblR7TDr0
— Roger Ver (@rogerkver) June 8, 2019

A Twitter user, Lutfi, commented on the above thread,
“the point is because rupiah in indonesia more low rate than dollar us.. so much fear when bitcoin uptrend in 2017 until the bubble explode, bank indonesia makes announcement about regulation digital asset not to use as transaction and then investor take down the asset..”
The post Bitcoin Cash: Roger Ver’s tweet highlights governments’ double standards appeared first on AMBCrypto.
Source: AMB Crypto

These 7 Tools Will Help You Calculate Your Crypto Taxes

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These 7 Tools Will Help You Calculate Your Crypto Taxes
It takes a genuine accounting guru to understand how the new system functions, but you can cut the long story short by using one of many apps or platforms developed to calculate crypto taxes. In this article, we will show you the seven best options.
These 7 Tools Will Help You Calculate Your Crypto Taxes

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Source: CoinSpeaker

Crypto-Market Update: Bitcoin [BTC] Skirts Below $8000, LTC Overtakes BCH, XRP Holds $0.4

Bitcoin [BTC] bulls and bears have engaged themselves in a stiff competition. The price has fallen below $7500 a couple of times; however, it rose back up to lest $8000 level every time. Currently, Bitcoin is holding onto near $7950.
BTC/USD 1-Day Chart on Bitstamp (TradingView)
The price of Bitcoin [BTC] at 15: 00 hours UTC on 7th June 2019 is $7979. It is trading 3.32% higher on a daily scale.
Also Read: Bitcoin [BTC] Price Analysis: Rebound From Key Support Imminent
The dominance of Bitcoin [BTC] is intact above the 55% range. The total market capitalization of cryptocurrencies also gained over $5 billion as the total Mcap at the time of writing was $255.9 billion.
Litecoin [LTC] Overtakes Bitcoin Cash [BCH]
Litecoin [LTC] placed Bitcoin Cash [BCH] to take the fourth spot according to total market capitalization. Litecoin recorded 11.55% on a daily scale. The price of Litecoin [LTC] at 12.32% hours UTC on 7th June 2019 is $115.
LTC/USD 1-Day Chart on Bitstamp (TradingView)
Bitcoin Cash [BCH] and Ethereum [ETH] also traded in the green on a daily scale; the price still near support at $400 and $250 respectively.
XRP Holds Bullish Momentum
XRP traded in a bullish range as it held its gains above $0.4. The price of XRP at 15: 00 hours UTC on 7th May 2019 is $0.42.
Also Read: Brandt Predicts Bullish Litecoin [LTC] and XRP, but Greenspan Suspects Pump and Dump on XRP
XRP/USD 4-Hour Chart on Bitstamp (TradingView)
Stellar [XLM] also gained over 2% on Bitcoin [BTC] to breach the 0.00016 BTC mark. The price of XLM is $0.125.
Almost all the altcoins other altcoins traded in the green, the confidence in the market strengthened as well after the Bitcoin [BTC] reached $8000 mark. EOS [BNB] and Binance Coin [BNB] held their position in the top ten cryptocurrencies by market capitalization with the price of around $6.5 and 31$ respectively.
Do you think that the market will continue its bullish momentum or further pullback is on the cards? Please share your views with us. 
The post Crypto-Market Update: Bitcoin [BTC] Skirts Below $8000, LTC Overtakes BCH, XRP Holds $0.4 appeared first on Coingape.
Source: CoinGape

Bitcoin Cash [BCH] is fully focused on adoption of cryptocurrencies in commerce, says Roger Ver

The cryptocurrency space is finally getting mainstream attention these days, following the efforts of the many thought leaders who have worked hard towards its promotion and subsequent adoption. Roger Ver is one of these thought leaders, with Ver promoting Bitcoin Cash [BCH] as the original Bitcoin. In doing so, he recently featured in an interview to discuss BCH’s new capabilities and its work against the current system of law.
Ver began by speaking about BCH’s latest innovation, “self-custodial blind escrow,” as a differentiator from the current cryptocurrency leader, Bitcoin [BTC]. He explained,
“This (blind escrow) platform allows anybody to buy and sell Bitcoin Cash [BCH] in any country and any payment method, with no AML KYC required from Bitcoin.com. The people are only required to abide by their local regulations.”
The core of this technology is powered by a special op-code that leverages a third-party’s datasig to verify and settle payment or transaction disputes. While highlighting that BTC did not support this feature yet, Ver stated that neither the chosen third party authority nor Bitcoin.com will hold any access to the transaction data, due to the system’s end to end encrypted infrastructure. He also supported BCH’s sluggish trading value recovery by saying,
“If you want the long term price to go up, you should be focusing on the adoption of cryptocurrencies and commerce. And that’s exactly what we’re doing at Bitcoin Cash.”
Global BCH trading has commenced from June 4th, in honor of the 1989 Tienanmen Square protests in Beijing, China. While the move strongly hints at Ver’s attempt to monopolize the crypto-hungry Chinese market, he stressed that people from across the world can use any payment methods to make BCH purchases, including “PayPal, wire transfer or even a suitcase full of cash at Starbucks.”
Speaking about the implications of using Bitcoin.com’s services in countries where crypto is banned, Ver compared the situation with marijuana’s legality, stating,
“If a law is a bad one or a stupid one, people should disobey it. Smoking a plant that makes you feel happy isn’t a crime.”
He also pointed out the problem of tribalism in the crypto-community, while complimenting peer blockchains including Ethereum, Dash, Monero, and Zcash. On the other hand, Ver called out the bad players that attempted a hack on the Bitcoin Cash network during the recent hard fork. As a collective response on behalf of other prominent leaders such as Peter McCormack and Vitalik Buterin (who are also sued by BSV’s Craig Wright), Ver said,
“Craig, you’re wasting everybody’s time and retarding the rate of economic growth at the entire world by wasting everybody’s time. So please stop, go and go and live your life and do something else.”
The post Bitcoin Cash [BCH] is fully focused on adoption of cryptocurrencies in commerce, says Roger Ver appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Cash (BCH) Registers A Double Digit Loss, $230 Incoming?

BCH crumble, fall by 10.4 percent
Hard forks make Bitcoin Cash vulnerable

After a brutal Q4 2018, Bitcoin Cash (BCH) recovery in 2019 was spectacular. However, May’s hard fork and an undesired 51 percent attack was a stain, but a necessary intervention. In a retest, BCH is retracing and could fall back to $230 in a bear trend continuation.
Bitcoin Cash Price Analysis
Fundamentals
Within the blockchain circles, nothing is as dreaded as a Majority Attack. Better known as a 51 percent attack, this rare assault happens when a miner, or a mining pool, take charge, commandeering more than 50 percent of the network’s hash-rate.
With this newfound power, the individual or the group can rewrite the history of the ledger’s transactions, literally breaking the system. While it is costly to unleash, the “attack” happened to the Bitcoin Cash network mid last month.
Ostensibly done for the general good of the Bitcoin Cash community, two of the largest BCH mining pools joined hands to reverse an illegal transaction by a miner. The unknown miner was taking advantage of a bug that was unrelated to the upgrade to try and steal funds forcing BTC.com and BTC.top to step in.
Although this was unwanted, reviving questions related to decentralization within Roger Ver’s Bitcoin Cash, supporters as Jonathan Silverblood argue that it was a necessary intervention:
“This is a very unfortunate situation, but it is also what proof of work actually is. The miners, in this case, did choose to drop prohashes block and from what I heard, it is because they deemed a transaction within it to have been invalid.”
Candlestick Arrangement

After free-falling for the better part of last year, Bitcoin Cash (BCH) performance during the previous five months has been impressive. Not only did bulls take charge, erasing losses of Q4 2018 but what we have in the daily chart is a classic retest of previous support now resistance.
What is visible is that the rally from $70 was at the back of high trading volumes helping in propelling prices back to $400. However, the failure of buyers to drum up momentum towards $600 or higher constitutes a retest.
Typical of a breakout pattern, the completion of the retest phase ushers in the third stage, the trend continuation. That is what is currently in progress and activation could see BCH tumble to $230 or the 61.8 percent Fibonacci retracement level of March and April trade range.
Technical Indicators
Since BCH is below the middle BB, May 19th bull candlestick anchors this trade plan. It has above average trading volumes of 122k and wide-ranging. Any break below $350 at the back of high participation could see BCH collapse to $230 as aforementioned.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Bitcoin Price Lost $700 and Dropped Below $8,000 in Just a Couple of Hours

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Bitcoin Price Lost $700 and Dropped Below $8,000 in Just a Couple of Hours
In just a couple of hours, Bitcoin price fell below $8,000. Some traders believe that it happened due to some market manipulations performed by a BTC whale.
Bitcoin Price Lost $700 and Dropped Below $8,000 in Just a Couple of Hours

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Source: CoinSpeaker

Crypto-Market Cap Losses $20 Billion: Bitcoin [BTC] Test $7700 as Alts ETH, XRP, LTC Follow Suit

Bitcoin [BTC] had a fairly eventful week as the price tested yearly highs but then fell back to fill the gap till $8000. However, on a weekly scale, the closing price near the opening indicating indecision in the market. Jacob Canfield expressed the market sentiments back his TA,
NEW #Bitcoin Analysis – Indecision In The Air At $9,000. – Bearish Weekly Closing – Low Volume On Rally – Trend lines Need To Hold…
With over 55% gain in the last month, the uncertainty has led to a further correction as the price is forming support near $8000. BTC tested a low near $7800 on Tuesday, 4th June 2019. The price of Bitcoin [BTC] at 2: 30 Hours UTC on 4th May 2019 is $7980$. It is trading 6.65% lower on a daily scale.
Also Read: Bitcoin [BTC] More Closely Related to the Falling Chinese Yuan than Gold: Report
BTC/USD 1-Day Chart on Bitstamp (TradingView)
Ethereum, Bitcoin Cash [BCH] and Litecoin [LTC] Test Support Levels
Ethereum, Bitcoin Cash and Litecoin are testing key resistance and support levels at $250, $400 and $100 respectively. There is an apparent similarity between the daily charts of Bitcoin and some altcoins (like Ether here).
ETH/USD 1-Day Chart on Bitstamp (TradingView)
Litecoin [LTC] also recorded similar price movements as it touched a high and low of $122 and $114, respectively during the last week. Currently, it is testing support levels above $100. The price of XLM at 3: 40 hours UTC on 4th June 2019 is 103.94.
XRP and Stellar Prices Drop As Well
XRP/USD 1-Day Chart on Bitstamp (TradingView)
XRP which was looking to break-out has fallen back to support at $0.41 as well. Moreover, Stellar (XLM) dropped proportionally to Bitcoin as well. The losses in most altcoins are in the 7-10% range, which is affected by BTC.
Also Read: Ripple [XRP] Price Analysis: Was This Retracement Necessary? Flag Pattern Breakout Looms
EOS, Cardano, Tron Bullish Momentum Reversed
EOS and Tron rose impressively in the past week, riding on announcement anticipation and development news. The prices of these cryptocurrencies dropped by 11.4$ and 10.2% respectively.
The price of Cardano’s ADA at 3: 40 hours UTC on 4th June 2019 is $0.087. It is trading 8.69% lower on a daily scale.
Cosmos [ATOM] was the only currency trading in the green with over 8.45% rise. The cryptocurrency has gained over 20% since the beginning of June. The price of ATOM at 3: 40 hours UTC is $6.52.
Also Read: Bitcoin Adoption: Crypto Leaders Cite Regulation, Price Speculation as Barriers
The total market capitalization of the cryptocurrency markets lost about a $20 billion as it dropped to $255 billion. The dominance of Bitcoin [BTC], nevertheless, stayed at 55.9%. Furthermore, the indecision in Bitcoin [BTC] prices have made altcoin traders of their investments as well.
Do you think that the market will be resilient to this correction as well or prices will fall further? Please share your views with us. 
The post Crypto-Market Cap Losses $20 Billion: Bitcoin [BTC] Test $7700 as Alts ETH, XRP, LTC Follow Suit appeared first on Coingape.
Source: CoinGape

LocalBitcoins Removes In-Person Cash Trades without Prior Notification

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LocalBitcoins Removes In-Person Cash Trades without Prior Notification
Popular peer-to-peer platform LocalBitcoins reportedly removed the option that enables users to buy or sell cryptocurrencies in person for cash.
LocalBitcoins Removes In-Person Cash Trades without Prior Notification

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Source: CoinSpeaker

Bitcoin SV highest gainer in May; started from the bottom but still got a long way to go

Bitcoin SV [BSV] touted as the “problem child” of the cryptocurrency industry marked a feat many would not have expected a month prior. Beginning May 2019 off on a disastrous note, being delisted from top exchanges like Binance and Kraken, no one would’ve thought that the crypto that dropped by over 20 percent in a single day in April would rise to become the top gainer in the next month, but all is not well for Satoshi’s Vision.
According to a recent report by analytics firm Longhash, Bitcoin SV saw its price climb by a mammoth 247 percent climbing from the 15th spot to currently occupying the 8th position on the ladder. From rock bottom to peak, the price of the coin ranged from a low of $53.22 to $250, marking over 360 percent rise if the extremes are looked at.
Gulf in Popularity
Source: BitInfoCharts
The report first looked at the blockchain’s inherent popularity with reference to its active daily addresses. In early May, BSV saw a decrease in the number of unique addresses involved in the blockchain daily. Citing BitInfocharts, BSV had 6,679 unique addresses on May 1, a drop of 111 percent from the previous day where the addresses stood at 14,100.
At the time of the report being published i.e. 10:00 UTC, 31 May, the unique addresses increased to 15,978. Longhash stated,
“Comparing these figures seems to indicate that Bitcoin SV has not only recovered from its dip at the start of the month, but also increased its pool of active addresses.”
Bitcoin SV’s address further pales in comparison to the same metric for its once forked and twice forked big brothers, Bitcoin [BTC] and Bitcoin Cash [BCH], which each have 722,058 and 37,391 daily active addresses, respectively.
Gulf in Transactions
Source: BitInfoCharts
Transactions also painted a curious picture as BSV’s transactions count on May 1 was 10,000 and the same rose by a whopping 298 percent to 39,793 in the last 24 hours of the month.
Once again comparing the metric to their forks, BTC and BCH accounted for 329,806 and 19,802 transactions respectively.
Gulf in Value
Source: BitInfoCharts
Longhash stated that the “most notable change” was that seen in BSV’s median transaction value. On May 1, BitInfoCharts stated that the same was $0.33 and on the penultimate day of the month, the median transaction value was $6.63. On the flipside, Bitcoin and Bitcoin Cash posted a median transaction value of $456.61 and $3.13, respectively.
The trifecta of the above metrics point towards a growth for the seven-month-old cryptocurrency but still points to a gulf in popularity, transactions, value and even class with its forked siblings. Craig Wright and Calvin Ayre’s antics add further fuel to the fire, with the community lambasting the duo for their “bullying tactics.”
In addition to the glaring inconsistencies in their fundamentals, the digital asset being delisted from a host of exchanges has allowed it to be artificially pumped by small-time exchanges, as many analysts have pointed out.
At press time, the Bitcoin SV declined by 2.5 percent against the US dollar in the past 24 hours and was priced at $184.66. The market capitalization of the coin is $3.28 billion, behind the likes of Binance Coin by $1.3 billion.
The post Bitcoin SV highest gainer in May; started from the bottom but still got a long way to go appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Cash [BCH] Price Prediction: Range-bound but Flexing Muscles Towards the Supply Area

Bitcoin incredible bull rally hit a snag above $480 opening the Pandora box.
BCH/USD has a higher chance of reversing the momentum towards $480 supply area.

Bitcoin Cash has remained range-bound with the short-term outlook ranging well. The breakout on Tuesday this week sent the price to highs at $483.15 (upper supply zone). However, due to lack of enough buying power, the bulls could not sustain higher growth leading to a retest of the broken support area at $425.
BCH/USD 4-hour chart
Chart source: Tradingview
The increasing bearish pressure pushed the price to the demand area at $401.37 right before the close of the session on Thursday. Following the establishment of the support slightly above $400, the Bulls forced a reversal above the upper range limit at $425. While trading at $438.26, BCH/USD is immediately supported by the 50 exponential moving average (EMA). Moreover, the divergence in the Moving Average Convergence Divergence (MACD) points towards an increasing momentum to the north in the current session.
Immediately above the current value, the upside is limited by the EMA21 at $440. The second resistance lies at $480 (resistance congestion level) while the third hurdle is observed at $500 (resistance congestion zone). If BCH/USD clears the resistance at this level, it will be an indication of the beginning of a bull rally that could eventually test $520 and $600 towards the end of June 2019.
Also Read: Crypto-Market Update: Bitcoin [BTC] Back Above $8500; ETH, XRP, LTC & EOS Lead Gains
Bitcoin Cash is supported by the ascending trendline. The price has since the first week of May maintained above the trendline, therefore, if the short-term support, BCH/USD has a higher chance of reversing the momentum towards $480 supply area. The upper range limit at $425 will also offer support. Other key support levels for this asset include $400, the lower range limit and the primary support at $280.
Bitcoin Cash Key Technical Indicators
MACD 4-hour: Increasing divergence is an indicator of the strengthening of bullish pressure.
EMA21 4-hour: Break above this level would mark bulls’ confidence in the momentum.
Key support areas: $400, $350 and $280.
Key resistance areas: $425 (upper range limit), $480 (supply area) and $500.
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Source: CoinGape