XRP built for practical use case to solve inefficiencies in legacy banking systems, says Ripple exec

“We do not see crypto as replacing fiat.” Breanne Madigan, Head of Global Institutional Market at Ripple said at The OECD Global Blockchain Policy Forum 2019. In the finance session, Madigan stated that Ripple was inclined toward interoperability and that “replacing fiat” was not their goal. The Ripple exec said, “We see opportunities for the […]
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Source: AMB Crypto

Analyst: Friday the 13th Daily Close Could Set Future Bitcoin Price Trend

Each and every daily close on Bitcoin price charts is important, as the price level where the candle closes and even the shape of the candle can help crypto analysts predict future movements and trend changes.
Today’s daily close one crypto analyst says is exceptionally important, and will likely choose the trend direction in the short term for Bitcoin price.
Bitcoin Price: Friday the 13th Daily Close Especially Significant
Technical analysts inside and out of the crypto market not only use indicators and review chart patterns, but they also look at individual candles themselves. Depending on their open, close, and the Bitcoin price action that takes place within the candle can help analysts make sense of what’s to come, and predict potential trend changes taking place before they actually occur.
Related Reading | Mark Your Crypto Calendars, Here Are Bitcoin Dates To Watch
Candle closes on higher timeframes, such as the monthly, weekly, 3-day, and daily are often used to determine greater periods of price action. Therefore, crypto analysts pay even closer attention to candles closing on these highest timeframes.
Today’s daily close, one crypto analyst says, is particularly important for Bitcoin price, and could determine the direction of the short to medium-term trend ahead.

Support and resistance clusters have already taken a heavy beating. I think next significant daily close trends. pic.twitter.com/QEcPw6PwrS
— CryptoGainz (@CryptoGainz1) September 13, 2019

The reason for this belief is due to what the analyst claims are both support and resistance clusters being heavily exhausted. This means that these supports and resistances have been weekend in both directions, and whichever one gives way first will likely result in a powerful move in that direction.
Could Superstition Have Anything To Do With Today’s Significance?
While the analyst’s belief is driven by the price action playing out on Bitcoin price charts, could today’s daily close being so important have something to do with superstition or astrology?
Today’s date just so happens to be Friday the 13th, a day known for bad luck and extreme superstition. Most believe that the superstition around the date was conceived after the film of the same namesake, however, the fear of the date may have arisen during the middle ages.
The number 13 itself is even considered unlucky, to the point where often multi-story buildings are built sans a 13th floor altogether.

usually on full moon people get more emotional .. which also has effect on peoples trading decisions … looking at the past and comparing new moon and full moon … btc usually was lower on the full moon … people tend to buy towards new moon
— Mischlichter (@Lichtmischer) September 11, 2019

Making matters all the more spooky is the fact that today is a full moon. Not just a full moon, but today is what scientist refer to as a “micromoon” that appears dimmer and smaller than regular full moons.
Related Reading | Major Bitcoin Move Coming? Bakkt Launch Date Coincides With Gann Pivot Points 
According to astrology, full moons are often times where significant change occurs. Could this full moon cause Bitcoin price to moon and set the trend for the weeks ahead? Or will Bitcoin price fall victim to the unlucky day that is Friday the 13th.
The post Analyst: Friday the 13th Daily Close Could Set Future Bitcoin Price Trend appeared first on NewsBTC.
Source: New feedNewsBTC.com

Crypto Adoption: NBA Player All Set To Tokenize His Million Dollar Contract

Brooklyn Nets guard Spencer Dinwiddie is all game to play with the digital economy. Dinwiddie is converting his multi-million dollar contract into a digital token.
Dinwiddie to Tokenize His Million-Dollar Contract
Per leading media outlet Athletic, Dinwiddie plans to convert his $34.36 million contracts into a digital token. Subsequently, he plans to use it as collateral to raise capital. With this securitization, Dinwiddie would receive a smaller payment in a lump sum. With this lump sum amount, he can then invest in a currency that exists as a digital currency. 
“In a securitization, the borrower gives up some future income in return for a smaller lump sum payment. But the borrower, in this case, Dinwiddie, then has more money to immediately invest than he otherwise would.
Further, Dinwiddie has also put up a spin on crypto by tweeting “BTC” to his followers. His tweet garnered positive responses from the crypto community and got an interesting response from the leading exchange, Binance. 
Dinwiddie’s Interest in Crypto is Not New
Dinwiddie has always been vocal about his positive stance on crypto, Last October, he affirmed that he had thousands of dollars worth assets in Bitcoin. 
“If I would’ve gone all-in, boy, I’d be loaded right now. I’d be rolling in it,”
he said at the time.
Further, reports suggest, Dinwiddie took the plunge in the crypto world before it reached the masses. While only a few NBA players still hold assets in Bitcoin, Dinwiddie is a forward thinker. He is not the standard NBA crypto investor, while most of the players became keen on holding Bitcoin, Dinwiddie considers it to be “Vegas deals”- staking a few thousand dollars and then hoping for the best possible scenario. 
In this case scenario, Dinwiddie made its way out of the league. Interestingly, NBA players are leading businessmen and they include LeBron James, Kevin Durant, Andre Iguodala. However, in most cases, their investments are secondary. 
The post Crypto Adoption: NBA Player All Set To Tokenize His Million Dollar Contract appeared first on Coingape.
Source: CoinGape

Ripple exec talks about XRP as a means of liquidity management

On the stage of The OECD Global Blockchain Policy Forum 2019, Ripple’s Global Head of Banking, Marjan Delatinne revealed the firm’s vision for XRP while addressing complexities surrounding the traditional financial system in terms of cross-border remittances. She stated: “We have been working with XRP to ensure that it has the key characteristics in order […]
The post Ripple exec talks about XRP as a means of liquidity management appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum, Litecoin, Tron, Monero, Cardano Price Analysis: 13/09

After consolidating low in the charts for the past couple months, major altcoins were moving in a direction which could revive some of its early-year optimism. Bitcoin dominance was still above 70 percent at press time, as alts tried to make a comeback in the market. However, the surge may not prevail in the near […]
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Source: AMB Crypto

London Police arrests a teen on suspicion of stealing unreleased music and selling it for cryptocurrencies

City of London Police Intellectual Property Crime Unit (PIPCU) and Manhattan D.A’s office arrested a suspected hacker for allegedly hacking into a world-famous recording artist’s websites and cloud-based accounts illegally. The suspected hacker allegedly stole the artist’s unreleased songs and sold it in exchange for cryptocurrencies according to a report by the official PIPCU website. […]
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Source: AMB Crypto

Ripple Price Analysis: Can XRP/USD Avert The Impending Breakdown?

Ripple price support areas in grave danger if triangle support gives in the prevailing selling pressure.
Ripple short-term technical picture has a strong bearish bias.

Ripple (XRP) investors should strap their belts tightly on readiness for a bumpy rollercoaster ride. Sustained movements above the resistance at $0.2550 have been very scarce. Also pressing down on the price movement is the 100 Moving Average on the one-hour chart.
A broader look at the chart reveals a market that has been trending upwards although gradually. However, the prominent pattern is the lower highs pattern experienced from Sunday last week. An ongoing bearish correction risk setting off the trigger if XRP steps below the forming symmetrical triangle support.
XRP/USD 1-hour chart
XRP/USD price chart by Tradingview
The technical levels applied to the chart also paint a negative picture. The Stochastic RSI retreated into the oversold levels. The signal is right at the bottom of the scale (0.00) signifying the increasing selling pressure on the market.
On the contrary, the Moving Average Convergence Divergence (MACD) has ignored the downtrend on Friday. Its recovery uptrend stalled at the mean line (0.0) but it has maintained a positive divergence. If this trend continues, Ripple could avert the impending triangle breakdown.
Several support areas will come in handy to cushion XRP from the potential breakdown. The initial support area is $0.2500. Extended declines will seek refuge above the major support at $0.24. On the upside, Ripple needs to rise against all odds to clear the resistance at $0.2550. Trading above the triangle resistance will place XRP in a trajectory to attack the targets at $0.28 and $0.33 respectively.
Ripple Key Technical Analysis
Spot rate: $0.2532
Relative Change: -001799
Open: $0.2542
High: $0.2561
Low: $0.2524
Trend: Generally bearish
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Source: CoinGape

Bitcoin begins consolidation after a break from a bullish pattern

On a macro scale, Bitcoin has been consolidating for over 2 months; however, a much lower timeframe of 1 to 4 hour indicates that Bitcoin broke bullish after more than 3 days of descent. The price of Bitcoin tapped a higher $9,800 level and broke out of a falling wedge. The price rose by 5.41%, […]
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Source: AMB Crypto

Ethereum (ETH) Eyes Significant Further Downside Against Bitcoin (BTC)

Ethereum (ETH) is primed for a massive decline against Bitcoin (BTC). It has yet to fall towards the next fib circle which means that we might see a next wave of downside similar to what we saw in August if not more devastating. The daily chart for ETH/BTC shows that Ethereum (ETH)’s downtrend against Bitcoin (BTC) remains intact. As long as it remains below the 21 day EMA, we can expect further downside to follow in an aggressive manner. The next few weeks are expected to be brutal for Ethereum (ETH) as it will lose most of its gains not just against Bitcoin (BTC) but also against the US Dollar (USD).

The problem with the current form of the cryptocurrency market is when cryptocurrencies like Ethereum (ETH) fall, most altcoins fall with it regardless of how good or bad they are. Similarly during periods of an uptrend, most coins rally with the market regardless of their fundamentals or technicals. As the cryptocurrency market matures, this trend is likely to go away and we will see altcoins rise and fall based on their own merits and demerits. In the stock market, not all stocks do bad in times of a crisis. For instance, stocks of companies like Lockheed Martin or Raytheon do well in periods of a military crisis. Similarly, there are companies that do well in times of a recession. In other words, all stocks don’t have to rise and fall with Google and Amazon.

Unfortunately in the cryptocurrency space most of the coins have no real purpose. They are not even tokens that get you equity in the company that issue them. So, while they may not rise if Ethereum (ETH) or other large cryptocurrencies rally, you can be sure that they will definitely fall when Ethereum (ETH0 or other large cryptocurrencies decline. As we can see on the daily chart for ETH/USD, the price remains within a large descending channel. The next decline from here is going to be very devastating for Ethereum (ETH) but it is going to be lethal for most small cap altcoins.
Ethereum (ETH) is all set to decline towards the bottom of the descending channel. This move is very likely to come to fruition this month. It is likely to be similar in momentum to what we saw in July which is why investors need to be very cautious buying at current prices because they would be buying at a local top. The price remains below the 21 day EMA and we have not seen a bullish crossover which gives us absolutely no reason at all to be bullish but there are many reasons to be bearish. This parabolic move to the upside which was mostly a result of Tether fueled manipulation is about to come to an end and when it does it is going to inflict a lot of pain on the altcoin market. It is therefore not a good idea to be holding altcoins at this point especially those with a small market cap and weak fundamentals.
Source: Crypto Daily

This French Exchange Has Become a Victim of Phishing Attack

Coinhouse Exchange based in France recently became a victim of a phishing attack. 
Fake E-Mails Sent to Coinhouse Customers
The hack was carried out via a phishing attack. The hacker attempted to gain the identities of the customers and get their mail database. He pretended to be an employee of the exchange and sent fake emails to all the users. Furthermore, he asked the users to identify themselves on a copy of the Coinhouse.com site. 
The attack received huge backlash from the users who were livid over the exchange’s lack of security measures. 
To bail the exchange out of this fiasco, the exchange has introduced a system of 2FA authentication. 
Source-Journal De Coin
The exchange has assured the users of their funds and even if they have entered their credentials on the site, they need not worry. Subsequently, withdrawals have been blocked for the next 48 hours, for security reasons. The company has promised to contact the affected users and guide them on procedures to resume activities normally on the platform. No funds were compromised on the account of the attack. 
A Common Scenario
In February 2018, a criminal group, dubbed Coinhoarder, managed to amass a total of $50 million in cryptocurrencies since 2015 – including an amount of $2 million that was taken in less than a month during 2017.
The campaign was based on the simple premise of setting up fake websites mirroring the immensely popular online wallet website, Blockchain.info. The hackers then ensured a steady purchase of Google AdWords in order to infiltrate search results of users looking to access Blockchain.info and position their fake websites in a favorable spot.
With that being said, to prevent such fiascos, having 2FA authentication and not SMS authentication is mandatory. Also, the users should double-check the URL of the website before entering their credentials. Further, users should avoid using the same password on different sites and use a password manager instead to avoid falling into the trap of hackers. 
The post This French Exchange Has Become a Victim of Phishing Attack appeared first on Coingape.
Source: CoinGape

Binance Bitcoin Futures Debuts with $170M Trading

Binance has launched a new futures platform, where speculators can bet on bitcoin price going down or up, after announcing it earlier this year. And service is already witnessing trading volumes worth hundreds of millions of dollars.

Looks like a strong start for Binance futures – $170mln trading in last 24h with max leverage 20x pic.twitter.com/qlkt8XE4vS
— skew (@skew_markets) September 13, 2019

Data analytics firm Skew tweeted a 24-hour trade report of bitcoin futures, showing Binance processing about $170 million worth of trades on the day of its debut. The figures almost matched the volumes recorded following Binance Futures beta launch. The Malta exchange noticed about $150 million worth of futures transactions across the two test phases, which prompted it to go full-fledged on Friday, with a special gift attached.
“In order to show our appreciation for your continued support towards Binance Futures, all users will receive a 50% discount on trading fees when trading on Binance Futures for the first 3 months after the go-live date,” said Binance in its blog post published Thursday.
The exchange further stated that users that participated in the Battle for Binance Futures competition and voted for Futures A would enjoy a further discount. It would equate to a total 75 percent trading fee discount on Binance Futures for a month from 2019/09/16 00:00 AM to 2019/10/15 23:59 PM.
Fees on the Binance Futures will be paid in BNB, a native utility token on Binance exchange. The team announced that it would burn 20 percent of the income it makes from its Futures platform as a part of an existing practice. The quarterly move would take a portion of BNB tokens out of supply. That means, assuming Binance Futures would make profits, Binance will now burn more of its native asset.
Binance Coin (BNB) surges more than 2 percent against bitcoin | Image credits: TradingView.com
The Season of Bitcoin Futures
Binance’s multi-million dollar debut outperformed two existing bitcoin futures services: CryptoFacilities and BitFinex. Nevertheless, it got beaten by other, broadly-accessed exchanges, including Deribit, CoinFlex, BitFlyer, and especially BitMEX, a bitcoin derivative giant that processed about $2.52 billion in futures trading volume.
Last 24 hours trade volume across Bitcoin Futures platforms | Image credits: Skew
Nevertheless, the existing market players are gearing up for stiff competition by Bakkt. The digital assets platform, backed by the Intercontinental Exchange, is launching two regulated physically-settled bitcoin futures contracts on September 23. The move, as many expect, would make it easier for institutional investors to speculate on bitcoin prices.
But unlike exchanges in the cryptocurrency space, Bakkt will not offer margin trading, a feature which allows traders to borrow money when making trades. BitMEX, for now, provides the highest margins on its derivatives contracts – up to 100x. At the same time, Binance offers up 20x margins, making it a least attractive alternative to traders with a higher appetite for risks.

Looking at the UK's latest white paper, they are very likely to make margin oveer 3x illegal.
Europe may follow.
So it's going to be interesting to see BitMEX volume play out and other exchange cull those features for major markets.
Impact on price?
— CryptoArbitrage (@CrytoArbitrage) September 13, 2019

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Source: New feedNewsBTC.com

Tyler Winklevoss on Upcoming Launch of Bakkt

Writer and editor Molly Jane Zuckerman got the chance to sit down with the author of Bitcoin Billionaires, Ben Mezrich and one of the subjects for the book, Tyler Winklevoss, for an exclusive interview for CT.
For those don’t know, when the publication was released, the irony was seemingly clear to many readers. Given that the novel is just under 300 pages, the general narrative is the story of the Winklevoss twins and how they have succeeded in the cryptocurrency space which somehow cleared their name from ever being associated to what was called ‘The Facebook’. 

Zuckerman asked Tyler what his thoughts are on the upcoming project from the aforementioned social media, dubbed Libra. 

“So, first off, I think that Facebook being in this space is huge validation for it.
I think that if you are a company in 2019, and you don’t have a crypto story or game plan, it’s kind of crazy. And if you don’t, I’m sure you’re scrambling around to get one.
Ultimately we think it’s great validation in the space. I’ve read some of the technical papers and whatnot and it looks like it is evolving and they’re still figuring out exactly all the details. But there’s a plan to start, in some way move it to more decentralization.”

In the film, The Social Network, both twins were portrayed in an almost victim fashion, which in a sense they ere. But it’s good to see that they quickly shook off the attachment of Facebook before it burrowed in too deep with the Winklevoss name.
In talking about the upcoming Bakkt platform, which is set to see launch next week, Tyler went onto state:

“I think that people, traders, investors and consumers will ultimately want to see the same opportunities to express opinions through financial instruments in bitcoin as they see in gold. But because we live in the world of cryptocurrency, there may be much more, too. There may be decentralized exchanges and more decentralized finance applications that you can’t create outside of the crypto world.
“I think you’d expect to see what exists in gold but also much more in crypto.”

Source: Crypto Daily