New Leaked Video Shows Blockchain Tutorial on Samsung Galaxy S10

CoinSpeaker

New Leaked Video Shows Blockchain Tutorial on Samsung Galaxy S10

While Samsung has successfully released its Galaxy s10 line, there’s many speculations among crypto community about smartphone’s blockchain features and in-built crypto wallet. The recently leaked video provides new insights.

New Leaked Video Shows Blockchain Tutorial on Samsung Galaxy S10

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Source: CoinSpeaker

Bitcoin Price Watch: BTC Readies For Bullish Acceleration Above $4,000

Bitcoin price is well supported on the downside near the $3,900 and $3,850 supports against the US Dollar.
The price is likely to accelerate gains above the $3,975 and $4,000 resistance levels.
There is a major bullish trend line formed with support at $3,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could dip a few points, but buyers are likely to protect declines below $3,850.

Bitcoin price is likely setting up for the next break above $4,000 against the US Dollar. BTC could gain bullish momentum towards $4,200 if it succeeds in surpassing the $4,000 resistance.
Bitcoin Price Analysis
Yesterday, we saw a minor downside correction from the $3,975 swing high in bitcoin price against the US Dollar. The BTC/USD pair traded below the $3,900 support level, but it found support near the $3,860 level. Later, it formed a support base above $3,860 and finally started a fresh upward move. It broke the 50% Fib retracement level of the recent decline from the $3,974 high to $3,861 low. Besides, there was a break above a connecting bearish trend line at $3,900 on the hourly chart of the BTC/USD pair.
The pair settled above the $3,920 level and traded close to the $3,950 resistance. BTC tested the 76.4% Fib retracement level of the recent decline from the $3,974 high to $3,861 low. It is currently consolidating below $3,950, with a bullish angle. The current price action is positive and it seems like there could be more gains above $3,950 and $3,975. However, a successful break above the $4,000 resistance is must for an upside acceleration. The next key resistance is near $4,180 and $4,200 levels.
On the downside, the main support is near the $3,900 level. There is also a major bullish trend line formed with support at $3,900 on the same chart. Should BTC decline below the trend line, it could test the $3,860 and $3,830 support levels. The final support is at $3,800 and the 100 hourly simple moving average. Below the 100 hourly SMA, the price could decline towards $3,720.

Looking at the chart, bitcoin price is clearly trading with a bullish bias above the $3,900 and $3,860 supports. Therefore, there are high chances of more upsides above the $3,975 and $4,000 resistance. Buyers could aim for $4,200 if there is a successful hourly close above the $4,000 barrier in the near term.
Technical indicators
Hourly MACD – The MACD is slowly gaining strength in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 50 level, with a positive angle.
Major Support Level – $3,900 followed by $3,860.
Major Resistance Level – $3,950. $3,975 and 4,000.
The post Bitcoin Price Watch: BTC Readies For Bullish Acceleration Above $4,000 appeared first on NewsBTC.
Source: New feedNewsBTC.com

Crypto Market Could Rally Further: EOS, Bitcoin Cash, TRX, ADA Price Analysis

The total crypto market cap is preparing for more gains above the $132.5B resistance level.
EOS price gained more than 7% recently and broke the $3.80 and $3.85 resistances.
Bitcoin cash price is consolidating below the key $150 resistance level.
Tron (TRX) price moved back above the $0.0250 resistance, but there was no follow through.
Cardano (ADA) price is grinding higher and it could soon test the key $0.0500 resistance area.

The crypto market is primed for more gains, with bullish moves in bitcoin (BTC) and Ethereum (ETH). EOS, BCH, ripple, tron (TRX), ADA and other altcoins are likely to accelerate higher.
Bitcoin Cash Price Analysis
Bitcoin cash price remained well bid above the $142 and $145 support levels against the US Dollar. The BCH/USD pair tested the $150 resistance level recently and later declined. However, the $145 support acted as a solid buy zone and later the price bounced back.
The price needs to gain strength above the $148 and $150 resistance levels to move further higher in the coming sessions. In the mentioned case, the price could revisit the $160 resistance zone.
EOS, Tron (TRX) and ADA Price Analysis
EOS price performed really well recently after it corrected lower from the $3.00 resistance. The price found support above the $2.70 support level and later bounced back. It is up more than 7% and moved above the $2.80 and $2.85 resistance levels. An immediate resistance is at $2.92, above which the price could test the $3.00 resistance zone in the near term. The key supports on the downside are $2.82 and $2.80.
Tron price moved to and fro between the $0.0240 and $0.0255 levels. TRX price is currently traded above the $0.0250 resistance, but it must break the $0.0255 resistance to gain strength. The next main resistance is at 0.0262 and $0.0265.
Cardano price remained well bid above the $0.0420 support area. ADA price recently broke the $0.0450 and $0.0465 resistance levels to set the pace for more gains. The current price action is positive and it seems like the price could continue to move higher towards the $0.0500 resistance area in the near term.

Looking at the total cryptocurrency market cap hourly chart, there is a solid uptrend in place above the $125.0B support area. The market recently corrected lower and tested the $127.00B level. Later, it bounced back above $130.0B and it seems like it could break the $131.0B and $132.5B resistance levels in the next few hours. If buyers gain strength, the market cap could surge towards the $135.0B and $140.0B levels. Therefore, there could be more upsides in bitcoin, ETH, XRP, tron, bitcoin cash, litecoin, EOS, stellar, IOTA and other altcoins.
The post Crypto Market Could Rally Further: EOS, Bitcoin Cash, TRX, ADA Price Analysis appeared first on NewsBTC.
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Bitcoin [BTC/USD] Price Analysis: Coin breaks from sideways movement as prices rise

Bitcoin, the king of all cryptocurrencies briefly touched the $4,000 range following which, it tumbled down again to the $3,900 range. The rally that started a few days back has brought back excitement and volatility to the once-stale cryptocurrency market.
The price of Bitcoin at press time was $3,938 and the market cap was at $69.68 billion. The 24-hour trading volume of Bitcoin crossed the $8 billion mark and was at $8.87 billion. BitMEX is the largest contributor to the total trading volume as it contributes 16.80% i.e, $1.81 billion  of it via the trading pair BTC/USD.
Although a lot of the traders expected Bitcoin to make a “Bart move,” Bitcoin followed the contrarian theory and broke to the upside.
1 Hour
Source: TradingView
The uptrend for Bitcoin in the one-hour time frame extends from $3,356 to $3,887. Since Bitcoin was in a sideways movement which was followed by an uptrend rally, there is no sight of a downtrend yet.
The support lines are seen at $3,358, $3,498, and $3,577 while the next resistance that Bitcoin has to break is at $4,043. However, considering the market sentiment, $4,000 could also act as a strong resistance point for Bitcoin.
The Parabolic SAR markers indicate bullish movement as the markers have begun forming below the price candles.
The MACD indicator for the aforementioned time frame indicates an imminent bullish crossover as the MACD and the Signal line are in close proximity to each other.
The Relative Strength Index shows that the buyers have a slight momentum due to the recent rally.
1 Day
Source: TradingView
The one-day chart for Bitcoin, which is a longer time frame, shows bullish signs as well due to the recent rally. The downtrend extends from $9,027 to $3,917. The rally needs to be much higher for the formation of a clear uptrend. The support can be seen at $3,198 while the next resistance can be seen at $4,111.
The Aroon indicator shows an Aroon green line that has struck the 100-line, indicating that the uptrend is in full swing.
The Stochastic indicator shows that the lines have crossed the oversold threshold in a bullish crossover.
The Chaikin Money Flow indicator shows that the money flow line has crossed above the zero, indicating a bullish scenario for BTC.
Conclusion
The one-hour time frame, confirmed by the MACD, SAR, and RSI is indicating a bullish outlook for BTC. The indicators, CMF, Stochastic and Aroon of the one-day time frame confirm the same.
The post Bitcoin [BTC/USD] Price Analysis: Coin breaks from sideways movement as prices rise appeared first on AMBCrypto.
Source: AMB Crypto

Breaking: Samsung Releases Galaxy S10 and S10+ with Built-in Crypto Wallets

CoinSpeaker

Breaking: Samsung Releases Galaxy S10 and S10+ with Built-in Crypto Wallets

Samsung  has just made an announcement that might give a strong boost to the cryptocurrency industry, by confirming that its new flagship smartphones -Galaxy S10, Galaxy S10+ and Samsung Galaxy S10 5G – will have a secure storage backed by hardware, which will house users’ private keys for blockchain-enabled mobile services.

Breaking: Samsung Releases Galaxy S10 and S10+ with Built-in Crypto Wallets

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Source: CoinSpeaker

Litecoin Up over 120% Since December Low, What’s Fueling Litecoin to Outperform Bitcoin

The 5th largest cryptocurrency Litecoin has been having a green February for the most part as it surges 59 percent in this month alone. At the time of writing, Litecoin has been trading at $51.50 with 24-hours gains of 6.03 percent. In the BTC market as well, it has been in the green by over 6 percent.
While the top cryptocurrencies like Bitcoin, XRP, Stellar, Tron, Cardano, Bitcoin SV, IOTA, and Monero have turned red by around 1 to 2 percent, it’s amazing that Litecoin is still holding gains.
Since hitting the bottom in mid-December at below $23, Litecoin has climbed more than 120 percent, outperforming the top cryptocurrencies, especially Bitcoin.

                     LTC price chart, Source: Coinmarketcap
It is not only the Litecoin price that is surging, but the LTC/USD longs are also approaching its all-time high in November 2018. With the way the longs are spiking, there is a low possibility that a severe drop would be happening.

                     LTC/USD Longs, Source: TradingView
Litecoin Outperforming Bitcoin
Meanwhile, the February month saw Litecoin trading volume going well above $1 billion. Currently, LTC is managing the daily trading volume of $1.54 billion which is seeing a slight increase from yesterday’s $1.4 billion, unlike Bitcoin’s daily trading volume that yesterday hit its highest at $9.9 billion in about 9 months only to now drop down to $8.8 billion. According to the data provided by Coin Metrics, on February 9th, the exchange volume went to $1.7 billion for LTC and the last time Litecoin’s daily trading volume has been above $1 billion has been a year back in February 2018.

                           Litecoin Exchange Volume (USD), Source: Coin Metrics
This is not the first time that Bitcoin has been outperforming Bitcoin by price and trading volume increment as the 5th largest cryptocurrency has historically led the Bitcoin rallies as well, as Joe McCann said,
“Looking at how LTC has outperformed BTC since the epic selloff on November 14th 2018, we can see that LTC has outperformed BTC by better than 4:1 from current cycle low to current session high. As mentioned before, LTC has historically led BTC rallies…”

In the first week of February, Litecoin price started seeing a surge on the grounds of Litecoin creator, Charlie Lee announcing new features in the form of fungibility and Confidential Transactions to be added on Litecoin. However, unlike the previous time, Litecoin Foundation took active steps this time by exploring Mimblewimble implementation and collaborating with Beam for this.

Apart from the trading volume keeping the prices up, the on-chain transactions on Litecoin have been keeping stable around 20k. Even during the bear market, the transactions have held their ground that means speculators have fled from the Litecoin market, as noted by eToro senior analyst, Mati Greenspan, who further added,
“Unlike Bitcoin, $LTC has already snapped its long term bearish trend line (yellow) at the beginning of the year. At the moment, there’s a strong psychological resistance at $50, but after that it’s smooth sailing #ToTheMoon.”
Well, Litecoin has already crossed $51 and now with only about 168 days are left in Litecoin reward halving, it would be interesting to see where will this short-term rally lead to or if Litecoin is leading another rally to the peak!
The post Litecoin Up over 120% Since December Low, What’s Fueling Litecoin to Outperform Bitcoin appeared first on Coingape.
Source: CoinGape

Bullish Bitcoin (BTC) Inch Close to $4,500 as Tech Leader Says it is Better than Paper Money

 

Bitcoin prices are trending higher, up 8.1 percent in the last week

Elon Musk says Bitcoin and crypto is brilliant for value transfer

Transactional volumes high, behind recent higher highs

 
Adoption is on the rise, and it is at this juncture that Elon Musk has reasons to believe that Bitcoin is brilliant and a better tool for value transfer. As an influencer, this is bullish, and as long as prices are on the rise, we expect momentum to build up.
Bitcoin (BTC) Price Analysis
Fundamentals
Interesting days ahead. There is a full adoption wave, and that is what the community needs. While Bitcoin is fashioned to be an alternative to government-issued paper money, most corporations are reluctant to take the lead and accept it as a form of settlement for customers willing to use the global coin. Tesla is a public listed company, but the founder Elon Musk has on numerous occasions aired his two cents on Bitcoin and cryptocurrency. He continues to make comments, but the company is yet to make it clear whether they will be accepting BTC for their new, fuel-free Tesla. Considering Tesla’s objective of championing green, sustainable energy which is everything against the mechanics powering the network–energy demanding chip-sets, it is unlikely that they will quickly jump in and join other companies like Trading View for example which is accepting BTC in its purest form.
Nonetheless, the question of sustainable energy and blanket conclusions made by critics of the tech that Bitcoin is not at all power efficient continues to draw debate and is quite sticky especially if we factor in the nomadic nature of miners and their propensity to set rigs in a zone with cheap, surplus power. All the same, Elon Musk being an innovator and entrepreneur has some bullish insights on Bitcoin. He calls the rare coin brilliant and a better conduit for the transfer of value.
Candlestick Arrangement

Prices are correcting, but the path of least resistance is up. At spot rates, BTC is up 8.1 percent in the last week and trading above $4,000 according to data streams from BitFinex. Because our trade conditions are live and traders can fine-tune their entries in lower time frames with the first target at $4,500, fitting stops should be around $3,500–$3,800 zone. Like in our previous emphasis, once prices edge past $4,500 or Dec 2018 highs, it is likely that BTC prices will expand towards $5,800–$6,000 at the back of strong volumes.
Technical Indicators
In the secondary volumes charts, participation is on the rise. Since recent higher highs are at the back of strong volumes–37k, it is clear that bulls are in charge unless of course there are counter moves with equally high liquidation volumes.
The post Bullish Bitcoin (BTC) Inch Close to $4,500 as Tech Leader Says it is Better than Paper Money appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin Cash Support Added on Coinbase Wallet App

CoinSpeaker

Bitcoin Cash Support Added on Coinbase Wallet App

Konstantin Rabin, financial expert and crypto enthusiast, takes a look at recent announcement from Coinbase in which it has confirmed that they added Bitcoin Cash support in their wallet app.

Bitcoin Cash Support Added on Coinbase Wallet App

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Source: CoinSpeaker

Bitcoin [BTC] and other cryptocurrency reserves of mining giant Bitmain allegedly running on fumes

Bitmain, the mining giant that came close to controlling more than 50% of hash rate responsible for mining Bitcoin is now down in the dumps, as per the latest rumors circulating the depths of the cryptoverse.
A Twitter user @btcking555 tweeted,
“BREAKING: The insider just wechat Bitmain’s latest crypto holdings are 6k in BTC and 750k in BCH. Thats around $130 mln in total value and almost 90 prc down from a year ago !! Also Bitmain had to liquidate some 500k BCH over Q3 and Q4 to cover losses. No wonder BCH has tanked”
To make matters worse, Bitmain lost half a billion dollars in Q3 of 2018. This further substantiates rumors of Bitmain’s demise, especially when compared to the first half of 2018 during which Bitmain had profits worth $1 billion.
Putting two and two together, one can assume that the aforementioned tweet about the sell-off of their crypto-reserves makes sense since Bitmain is in dire need of funds. Moreover, Bitmain’s dream for an IPO under Hong Kong Stock Exchange [HKEx] has not yet materialized as the exchange said that it was reluctant to allow IPO related to cryptocurrencies, owing to its highly volatile market.
@brcking555 further continued,
“Also Jihan is desperate to raise any capital in order not to sell down any more BCH and is pissed about todays leaks to media about massive Q3 losses. His “smoking mirrors” announcement on 7nm chip may not even help him.”
Alister Milne, the CIO of Digital Currency Fund and a Bitcoin enthusiast replied to the above tweet in agreement,
“Looks like they dumped 16k BTC as well … combined, its probably why $6000 broke.”
@eddyspenserwold commented on the same thread,
“March 2018 Bitmain holdings:
BTC 22,082
BCH 1,021,306
Now
BTC 6,000 (liquidated 70%)
BCH 750,000 (liquidated 25%)
Observations:
Bitmain still believes in Bcash.
In Q3-4 2018, Bitmain sold more Bitcoin than Bcash but Bcash tanked more.”
Another prominent person in the cryptocurrency ecosystem, Udi Wertheimer commented,
“I mean, shitcoin twitter isn’t going to like this reply, but if they liquidated ~50% of their holdings in 6 months that’s pretty bullish for BCH from here on out”
People in the community have speculated that the mining giant’s reallocation of hash power during the Bitcoin Cash hard fork combined with the brutal bear market of 2018 has contributed to Bitmain’s current state.
The post Bitcoin [BTC] and other cryptocurrency reserves of mining giant Bitmain allegedly running on fumes appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Price Crosses $4,000, Could we have Another Spike While Chart “Screams Bottom”

Volatility entered the market on the weekend when greens exploded across the cryptocurrency space with top ones registering a rise of as high as 12 percent in a day. Bitcoin took a spike as well and briefly hit $4,000 on Bitfinex. At the time of writing, Bitcoin has been trading at $3,952 with 24-hours gains of 0.42 percent, as per data provided by Coinmarketcap.
Bitcoin price 5-days chart, Source: TradingView
 
The price wasn’t the only one that took a spike, one of the strong factors that contributed to this hike has been its trading volume. The leading cryptocurrency that is currently managing the daily trading volume of $8.95 billion yesterday hit $9.9 billion. This high was previously registered on May 3rd, 2018.
Trading volume has an integral part to play in the Bitcoin price as the crypto trader and analyst Josh Rager shared,
“Bitcoin currently at resistance level with a break and close above $4100 is bullish. But…Volume continues to decrease on high time frames: the decreasing volume w/ rising price = bearish. If the volume doesn’t pick up, I foresee BTC price dropping back to support.”

It’s a possibility that as traders and investors start getting bullish, the flagship cryptocurrency might do a U-turn and take a hit to another bottom as many analysts have already predicted for in the first quarter of 2019 as Rager further comments, “I expect bullishness and overconfidence by majority before a drop to the bottom.”
“Notice the long wick, a nice sign of a slight retrace likely. Would like $BTC push up slightly higher to at least $4100 to mid $4ks would be a nice a target. For traders, this is good volatility. For Holders, you could see new lows in the coming weeks,” noted Rager.
Now, similar thoughts are echoed by economist and crypto trader Alex Kruger who says, the current market has covered all the factors, viz. “Capitulation” that occurred from November to December in 2018, then bounced off long term trend measure, twice, on Dec & Feb (200 WMA), and the current movement that broke out from High Low” in high volume, to hit the bottom.
In the short term, analysts are predicting Bitcoin to move between the $3,700 and $4,200 range while as Rager noted and now Kruger, once this $4,200 level gets broken, price can move really “fast,” but it in no way means Bitcoin price won’t crash rather the chart is giving bearish signals.
“Prices may crash again. After all, bitcoin’s demand is almost entirely speculative, and natural sellers (miners, exchanges) will always sell.”

The post Bitcoin Price Crosses $4,000, Could we have Another Spike While Chart “Screams Bottom” appeared first on Coingape.
Source: CoinGape

Elon Musk: Cryptocurrency is the future; paper money will soon fade away

The CEO of Tesla and cryptocurrency enthusiast, Elon Musk, has once again spoken in favor of decentralized currency, stating that a day could come when it will eventually replace paper money.
In a recent episode of ARK Invest’s FYI podcast hosted by Tasha Keeney, “On the Road to Full Autonomy With Elon Musk,” the Tesla CEO spoke about the developments underway at Tesla and about cryptocurrencies, with reference to the future of finance and technology.
When asked about the topic of cryptocurrencies, Musk was taken aback, stating, “Crypto, seriously?” with the interviewer referencing Musk and Twitter’s Jack Dorsey’s recent chatter about the decentralized currency realm.
Musk stated,
“Bitcoin and Ethereum scammers were so rampant on Twitter I decided to join in and I said at one point I want to buy some Bitcoin. Then my account got suspended cause obviously there was obviously like some automatic rule that if you try to sell bitcoin or something and I was just joking.”
In late October, Musk tweeted out, “Wanna buy some Bitcoin?” which sent the cryptocurrency community into a tizzy, many users excited at the prospect of a fruitful collaboration between the Tesla CEO and others such as Binance’s Changpeng Zhao.
Following a campaign by Twitter that deleted several bogus accounts for “coordinated manipulation,” and promotion of cryptocurrency scams, Musk lauded the website’s efforts and went on to state,
“At this point, I want ETH even if it is a scam”
When asked about Jack Dorsey’s prediction that the internet will soon see a native currency in Bitcoin, Musk replied stating, “That’s interesting.”
He added,
“ I think that the Bitcoin structure was quite brilliant, its seems like there’s some merit to Ethereum as well, and maybe some of the others. But, I’m not sure if it would be a good use of Tesla resources to get into crypto.”
Musk added that one of the main downsides of cryptocurrency is the “energy-intensive” nature of production, referring to the mining process. With reference to the same he said,
“There has to be some kind of constraints on the creation of crypto. But it’s very energy intensive to create an incremental Bitcoin at this point.”
When the topic switched to the nature of Bitcoin transactions, the interviewer stated that cryptocurrencies are not widely used for retail-goods like pizza and coke. To this, Musk replied, “maybe for Coke,” referring to the recreational drug that was sold for Bitcoin on marketplaces like the Silk Road, a smudge that the cryptocurrency world is still reeling from.
Towards the end of the podcast, Keeney referenced the dire financial situation in Africa, where currency restrictions prohibit citizens from converting their currency and forcing them to, at times, go through the US dollar. In light of the same Musk replied,
“It bypasses currency controls. Paper money is going away and crypto is a far better way to transfer value than pieces of paper.”
Despite Musk’s positive stance on cryptocurrencies, his appreciation for the structure of top coins like Bitcoin and Ethereum and his affirmation that eventually decentralized currency will takeover paper money, the Tesla CEO clarified that his company will not start selling Bitcoins anytime soon.
The post Elon Musk: Cryptocurrency is the future; paper money will soon fade away appeared first on AMBCrypto.
Source: AMB Crypto

Bitmain Announces Its Next Gen Bitcoin and Bitcoin Cash Mining Chip

CoinSpeaker

Bitmain Announces Its Next Gen Bitcoin and Bitcoin Cash Mining Chip

Bitmain faced a decline in its 2018 profit margins. However, the company has launched new mining chips in a move expected to put the company back on the profitable track.

Bitmain Announces Its Next Gen Bitcoin and Bitcoin Cash Mining Chip

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Source: CoinSpeaker

Bitcoin Price Watch: Pullback In BTC Before Fresh Increase

Bitcoin price extended gains above $3,900 and traded close to the $4,000 resistance against the US Dollar.
The price traded as high as $3,973 and later started a downside correction.
There is a short term breakout pattern in place with support at $3,875 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to correct further lower towards the $3,830 or $3,800 support levels before fresh increase.

Bitcoin price failed to surpass the $4,000 resistance and corrected lower against the US Dollar. BTC could tested the $3,800 support area before a new upward move towards $4,000.
Bitcoin Price Analysis
Yesterday, we saw a strong rally above the $3,750 resistance in bitcoin price against the US Dollar. The BTC/USD pair spiked towards the $3,950 level and later corrected lower. However, the $3,830 support prevented losses and the price bounced back. It broke the last swing high and traded close to the $4,000 resistance. A new weekly high was formed at $3,973, but the price failed to test the $4,000 barrier. As a result, there was a fresh downside correction and the price declined below $3,950 and $3,920.
There was a break below the 23.6% Fib retracement level of the last wave from the $3,684 low to $3,973 high. However, the current decline is finding bids near yesterday’s highlighted bullish trend line with support at $3,880. More importantly, it seems like there is a short term breakout pattern in place with support at $3,875 on the hourly chart of the BTC/USD pair. If there is a downside break, the pair could test the next key support at $3,830. It coincides with the 50% Fib retracement level of the last wave from the $3,684 low to $3,973 high.
If the price fails to hold the $3,830 support, it could test the main $3,800 support area in the near term. On the upside, the price must break the $3,925 and $3,950 resistance levels to revisit $3,975. The main resistance for buyers is near the $4,000 level, above which there are chances of further gains.

Looking at the chart, bitcoin price seems to be setting up for the next break either above $3,925 or below $3,875. In the short term, there could be a few bearish moves, but the $3,800 support is likely to hold losses. Below $3,800, the price could drop towards the $3,720 support.
Technical indicators
Hourly MACD – The MACD is currently in the bearish zone, with a few positive signs.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently flat near the 50 level.
Major Support Level – $3,830 followed by $3,800.
Major Resistance Level – $3,925. $3,950 and 4,000.
The post Bitcoin Price Watch: Pullback In BTC Before Fresh Increase appeared first on NewsBTC.
Source: New feedNewsBTC.com

Crypto Market Eyes Additional Gains: BNB, EOS, Bitcoin Cash, Tron (TRX) Analysis

The total crypto market cap traded towards the $132.5B level and later corrected lower.
EOS price traded above the $3.50 resistance and it is currently consolidating gains.
Binance Coin (BNB) rallied more than 10% and broke the $10.00 resistance area.
Bitcoin cash price is placed nicely above the $140 support, with a bullish bias.
Tron (TRX) price failed to stay above the $0.0250 support and later declined.

The crypto market started a downside correction, but it remains supported. Dips in bitcoin (BTC), Ethereum (ETH), Binance coin (BNB), BCH, ripple, EOS, TRX and ADA are likely to find buyers.
Bitcoin Cash Price Analysis
Bitcoin cash price gained traction recently and broke the $135 and $140 resistances against the US Dollar. The BCH/USD pair even traded above the $145 level and later started a downside correction. On the downside, the key supports are near $142 and $140, below which the price might test the $135 support.
On the upside, an initial resistance is near the $145 level, above which the next hurdle for buyers is at $148 and $150. In the short term, there could be range moves, but the price is likely to gain further above $145.
EOS, Tron (TRX) and BNB Price Analysis
EOS price gained a strong bullish momentum above the $3.00 resistance area. It broke the $3.25 and $3.50 resistance levels to register heavy gains. At the moment, the price is consolidating above the $3.50 support, with resistances near the $3.62 and $3.70 levels.
Tron price moved above the $0.0250 resistance level, but it failed to hold gains. TRX price topped below the $0.0255 resistance and later declined below the $0.0250 support. The price is down more than 2% and it seems like it could retest the $0.0245 support area in the near term.
Binance coin (BNB) rallied recently above the $9.50 and $10.00 resistance levels. BNB price gained more than 10% and even surpassed the $10.50 resistance. The next major hurdle for buyers is near the $11.00 level, above which the price might eye a test of the $12.00 level.

Looking at the total cryptocurrency market cap hourly chart, there was a strong upward move above the $120.0B and $125.0B resistance levels. The market cap even broke the $130.0B resistance level and tested the $132.5B level, where it faced resistance. Later, it started a downside correction and declined below $130.0B. However, there are many supports near $126.0B, $125.0B, and a bullish trend line on the same chart. Therefore, as long as the market cap is above $125.0B, dips in bitcoin, ETH, tron, litecoin, EOS, ripple, ADA, stellar, BNB, BCH, XMR and other altcoins remain supported in the coming sessions.
The post Crypto Market Eyes Additional Gains: BNB, EOS, Bitcoin Cash, Tron (TRX) Analysis appeared first on NewsBTC.
Source: New feedNewsBTC.com

Could Bitcoin ETN’s Large Premium to BTC be a Sign of Institutional Buying?

Over the past year discussions of a Bitcoin ETF being approved by regulatory authorities in the US has dominated the news cycle and has even – on multiple occasions – impacted the markets. Many investors and analysts believe that the approval of a BTC ETF will lead to an influx of investors as it would place the cryptocurrency in front of all traditional equity investors.
Although the status and potential effect of a Bitcoin ETF remains unknown, there already exists and exchange-traded product that allows investors to add some exposure to Bitcoin’s price through the form of an Exchange Traded Note (ETN).
Bitcoin ETN Trades at Large Premium to BTC
The Grayscale Bitcoin Trust (GBTC) is a popular ETN that allows traditional investors to gain some exposure to the daily price movements of Bitcoin without actually owning the underlying asset.
Grayscale describes their product as “the first publicly quoted securities solely invested in and deriving value from the price of bitcoin” that allows investors to “gain exposure to the price movement of bitcoin through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping bitcoins.”
Each share of GBTC trades at approximately 1/1000th of Bitcoin’s actual price and is currently trading at $4.82 per share. This means that GBTC is valuing one BTC at $4,820, which is significantly higher than Bitcoin’s current price of under $4,000.
Thomas Lee, the co-founder of Fundstrat Global, pointed out this premium in a recent tweet, hypothesizing that GBTC’s premium to BTC’s net asset value (NAV) is a sign of institutional buying, as purchasing GBTC is easier than purchasing BTC through a cryptocurrency exchange for traditional investors.
“CRYPTO: $GBTC premium to NAV creeping up to 36% on heels of $BTC surge to ~$4,000… Rise in premium is a sign of institutional net buying (easier to buy this ETN from @GrayscaleInvest than buy via a crypto exchange) … another sign 2019 way better than 2018 for crypto,” he explained.

CRYPTO: $GBTC premium to NAV creeping up to 36% on heels of $BTC surge to ~$4,000
Rise in premium is a sign of institutional net buying (easier to buy this ETN from ⁦@GrayscaleInvest⁩ than buy via a crypto exchange)…
…another sign 2019 way better than 2018 for crypto pic.twitter.com/hdFh8y3sY9
— Thomas Lee (@fundstrat) February 19, 2019

Although GBTC doesn’t entitle buyers to Bitcoin – the underlying asset it tracks – it does allow buyers to get in on some of its volatility in an easy to access fashion.
Is Growing GBTC NAV Premium Actually The Result of Institutional Buying?
On February 17th Bitcoin’s price surged after briefly dipping towards $3,600, and is now pushing up against $4,000, which has proven to be a level of resistance.
BTC’s price has surged over the past couple of days.
Historically, GBTC’s premium grows whenever BTC experiences price surges, and drops whenever Bitcoin’s price drops. With this being said, it appears that GBTC historically exaggerates Bitcoin’s sentiment shifts, which does not serve as strong support for Lee’s theory regarding the growing premium being the result of institutional buying.
Furthermore, Lee’s assessment of GBTC’s current NAV premium is exaggerated, as Bloomberg notes that GBTC’s current premium is just under 19%, while its average 52-week premium is nearly 40%.
Lee addressed this in response to a comment on his original post, noting that a 20% NAV premium does appear to be more accurate.

Hmmm. Actually more favorable
— Thomas Lee (@fundstrat) February 19, 2019

With that being said, although it is possible that institutions are trading the cryptocurrency via GBTC, there is little evidence of this and its current price premium is nothing extraordinary.
At the time of writing, GBTC is trading up nearly 15% from its opening price, while BTC is only trading up 1.5% over a 24-hour trading period.
Featured image from Shutterstock.
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