The Ethereum Foundation has awarded 20 different startups and individuals a total of $2.86 million in its latest grant program round.
Archives for October 15, 2018
Ripple Price Key Highlights
- Ripple price recently busted through the short-term descending trend line to signal a reversal.
- Price might still need to make a pullback in order to gather more bullish momentum to sustain the rally.
- The 61.8% Fib already seems to be holding, though, and technical indicators are reflecting a pickup in buying pressure.
Ripple price looks ready to resume its longer-term rally after breaking past a short-term descending trend line.
Technical Indicators Signals
The 100 SMA is still below the longer-term 200 SMA to signal that the path of least resistance is to the downside or that there’s a chance the selloff could resume. However, the gap between the moving averages is narrowing to reflecting slowing bearish pressure and a possible bullish crossover.
In addition, the 200 SMA dynamic inflection point coincides with the 61.8% Fibonacci retracement level that already seems to be keeping losses in check. If so, Ripple price could make its way back up to the swing high at 0.5300 or higher.
Stochastic has already pulled out of the oversold region to bring a return in buying pressure. A bullish divergence was also reflected, adding confirmation that buyers are gaining the upper hand. On the other hand, RSI is still treading lower and has plenty of room to slide, so a deeper correction is still a possibility.
Ripple has been one of the more resilient cryptocurrencies lately thanks to positive developments specific to this digital asset. Anticipation for its partners shifting to the xRapid platform continues to support speculations of stronger volume and increased activity for XRP.
It also helped that bitcoin and its peers enjoyed rallies on the Tether sharp selloff, which was then followed by an update on Fidelity’s platform for institutional investors. These could be enough to shore positive sentiment in the industry for much longer, paving the way for a more sustained recovery.
The post Ripple (XRP) Price Watch: Uptrend Resumes, Next Targets appeared first on NewsBTC.
EQUI Global, a venture capital fund built on a blockchain-powered back end, has announced Steve Wozniak as a co-founder. Wozniak is best known for his work at Apple, company he co-founded together with Steve Jobs.
VC Firm to Be Listed on Cryptocurrency Exchanges As EquiToken
With Steve Wozniak at the helm of EQUI Global, the firm will aim at disrupting the venture capital industry by enabling non-institutional investors to trade their portfolios on external cryptocurrency exchanges. Through the purchase of EquiToken, built on the Ethereum platform, investors can buy into the venture capital fund and then use cryptocurrency exchanges as secondary markets in order to sell those assets in they wish.
EQUI Global was founded by Scottish investors Doug Barrowman and co-founder Baroness Michelle Mone OBE. Wozniak joins the VC firm as a founding member as he contributes by identifying technology companies worthy of investment, Verdict reported.
“I get ideas pitched to me every single day, in fact, dozens and I always say no. Since I co-founded Apple with Steve Jobs, this is about the second time in twenty years that I actually said yes […] I want to be a part of this. It has to be something I really believe in and I really believe in EQUI […] We’ve already got over 20 businesses that we are looking at and we haven’t even officially launched yet. It’s going to be very exciting […]”
Believing that EQUI Global is a game-changer as it seeks supports and funds the blockchain and tech stars of tomorrow, the company expects other venture capital firms to follow its lead and replicate the blockchain-powered model using a digital currency such as the EquiToken.
The VC firm will focus on technology companies the most, leaving 20% of its investments for industries such as real estate and art. Wozniak explained why technology gets more attention from the VC firm, which can help startups transform industries.
“There are so many great ideas because I sit down and think, ‘what could I think of doing?’ And it’s usually based upon ‘what do we have today in our life and how could we modify it, make it a little better or radically change it?’ and I don’t come up with many answers. But then I run it at other people and almost everybody has one answer for one thing that I think ‘woah, I never would have thought of that’ so it’s out there in the technology field.”
Having been strongly mentored since the early days of Apple with much “excitement”, Wozniak joined EQUI Global as co-founder to make a difference for new startups and “help make it happen for a lot of others out there”.
In June 2018, Wozniak said only Bitcoin is pure digital gold and that blockchain today shows all the signs of a bubble. At a tech conference held in May, he said that Bitcoin and blockchain are the “next major IT revolution”. Now at EQUI Global, he will have the opportunity to be a leader of the revolution.
Image from Shutterstock
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Bitcoin Price Key Highlights
- Bitcoin price recently surged past its symmetrical triangle resistance to signal that an uptrend is underway.
- Price found resistance around $7,800 and appears to be pulling back to the broken triangle top.
- If this area holds as support, price could aim for the Fibonacci extension levels next.
Bitcoin price is in the middle of a pullback from its upside breakout and could set its sights on these targets next.
Technical Indicators Signals
The moving averages are still oscillating to reflect sideways price action and barely offer any strong directional clues. Stochastic is still heading south to show that there’s some selling pressure left and that a deeper correction to the actual triangle top might be underway. RSI has more room to slide to also signal that a larger correction is due.
But if the current levels hold, bitcoin price might resume the climb to the Fibonacci extension levels from here. The 78.6% extension is in line with the swing high around $7,815 while the 61.8% level is closer to the $7,500 major psychological resistance. The full extension is located at the $8,134.2 level.
Bitcoin price got a huge boost from the panic selloff in Tether, which is a stablecoin pegged to the value of the US dollar. This raised questions on the security and legitimacy of Tether, leading investors to scurry to bitcoin instead.
Also, news of Fidelity’s launch of a bitcoin and ethereum platform for institutional investors was also positive for bitcoin price. This could pave the way for stronger volumes and increased activity from institutional funds, which would then encourage more retail investors to bet on the space.
This technical break could also encourage more buyers to reestablish their long positions on FOMO and revived expectations of a strong rebound before the year ends.
The post Bitcoin (BTC) Price Watch: Triangle Resistance Break and Retest appeared first on NewsBTC.
- Bitcoin cash price broke to the upside, but it declined back below $460 against the US Dollar.
- There is an ascending channel forming with support at $440 on the hourly chart of the BCH/USD pair (data feed from Kraken).
- The pair may continue to consolidate and slowly move higher above $450 in the near term.
Bitcoin cash price retreated from the $480 resistance against the US Dollar. BCH/USD is currently consolidating above $440 with a few positive signs.
Bitcoin Cash Price Analysis
Yesterday, there was a sharp upside move and reversal in bitcoin price, which helped bitcoin cash price to move above $450 against the US Dollar. However, the BCH/USD pair failed near the $480 resistance and retreated sharply from highs. It broke the $475 and $460 support levels. Moreover, there was a break below the 50% Fib retracement level of the last wave from the $425 low to $483 high.
The decline was such that the price retested the $440 support area. There was almost a full retrace with a test of the $436 swing low and the 100 hourly simple moving average. Additionally, the 76.4% Fib retracement level of the last wave from the $425 low to $483 high was tested. Later, the price started an upside move towards the $445 level and settled above the $440 support. At the outset, there is an ascending channel forming with support at $440 on the hourly chart of the BCH/USD pair. The price needs to clear the $450 and $455 resistance levels to climb higher again.
Looking at the chart, BCH price seems to be consolidating with positive moves above $440. On the downside, the $440 and $435 levels are crucial supports for the current wave. Below these, the price may retest the $425 low.
Looking at the technical indicators:
Hourly MACD – The MACD for BCH/USD is slightly placed in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is placed above the 50 level.
Major Support Level – $440
Major Resistance Level – $455
The post Bitcoin Cash Price Analysis: BCH/USD Consolidating Above $440 appeared first on NewsBTC.
The crypto market has stabilized after a wild 24-hour period triggered by the sudden increase in the price of Bitcoin. On cryptocurrency-only and Tether-integrated exchanges like OKEx, Huobi, and Bitfinex, the price of Bitcoin exceeded $7,700, as the value of Tether (USDT), which is supposed to be pegged to that of the US dollar on
The post Crypto Market Stabilizes as Tether Recovers, Real Bitcoin Price at $6,450 appeared first on CCN
Paxos claims it has so far issued a total of $50 million-worth of its Paxos Standard crypto stablecoin since its official launch last month.
A veteran and early employee of Coinbase is switching teams, moving to the up-and-coming cryptocurrency exchange platform, Bakkt. Adam White will be joining Bakkt as the exchange’s Chief Operating Officer, helping the platform to develop as it prepares for its imminent launch.
Many investors and analysts see Bakkt as being cryptocurrency industry’s next big platform that could usher in a new era of institutional and retail investors.
The exchange, which will be a direct competitor to Coinbase, has deep ties to Wall Street, and is backed by New York Stock Exchange parent company, ICE. It has already secured partnerships with major household corporations, like Starbucks and Microsoft, giving it an edge over the competition.
The platform, which is currently awaiting operational approval from the US Commodities and Futures Trading Commission (CFTC), could potentially act as a compliant on-ramp that could bring about Bitcoin mutual funds and ETFs to retail investor’s 401(k)s.
Bakkt’s CEO, Kelly Loeffler, wrote about the addition of Adam White to the exchange in a recent Medium Post, saying that he is an excellent fit with the companies culture of “collaboration, problem solving, integrity and leadership,” adding that “Adam is a much anticipated addition to our busy team.”
A Coinbase spokesperson spoke to Fortune about White’s departure from the exchange, saying:
“We wish Adam all the best, and are proud of what we call the ‘Coinbase Mafia’ – an increasingly impressive group of alumni who are driving the crypto space forward.”
An Update on Bakkt’s Progress with Regulators
In addition to announcing the addition of a new member to Bakkt’s leadership team, Loeffler also gave an update on the progress of the exchange.
She explained that the platform is currently hard at work with members of the clearing house risk committee, and is working closely with their clearing house boards to meet the regulatory guidelines set forth by the CFTC and the US government.
Subject to CFTC approval, the exchange hopes to begin testing and onboarding in November, with trading starting the following month, in December.
Bakkt is also awaiting approval on a patent for their proprietary market model that aims to provide institutions with a regulated framework for offering cryptocurrency-related products to their clients.
“Our patent-pending market model is focused on mitigating risk while creating opportunities for institutions to serve their clients in a regulated framework for digital assets. This means creating a solution that both provides wanted exposure and limits unwanted exposure. A critical aspect of our model is ensuring that our clearing members are well protected from a risk perspective through a conservative market design…” Loeffler explained.
The aforementioned model will utilize three key requirements to ensure risk mitigation, including a requirement for full pre-funding for all Bitcoin trades, direct access to the warehouse, which means that clearing members will not have to handle cryptocurrency themselves, and a fund that ensures that non-default clearing member capital is never at risk.
Loeffler also explained that forming a regulatory framework for nascent industries is incredibly important, and that dialogues regarding regulation are already in full swing, specifically mentioning the attendance of regulators at the recent LabCFTC FinTech Forward conference.
Assuming the platform is approved by the necessary regulatory bodies, Bakkt could bring a significant amount of retail wealth into the cryptocurrency industry, possibly reversing the persisting bear market.
Featured image from Shutterstock
The post Bakkt Continues Talks with Crypto Regulators, Adds Key Executive to the Team appeared first on NewsBTC.
Ethereum developers say Constantinople may be subject to delays following Saturday’s test network release.
Unless otherwise, we expect traders to buy on dips in lower time frames all thanks to yesterday’s attempts of higher highs. Supporting this view are breaks above key resistance lines in Cardano while Tron might print above Sep 2018 highs today.
Let’s have a look at these charts:
EOS Price Analysis
Like most coins in the top 10, EOS volatility is back. However, this time bulls have an upper hand and are up four percent in the last day. Not only are we seeing a situation where buyers might end up reversing last week’s losses but chances are EOS are now bottoming up.
Because of this and that fact that our previous EOS short traders are not valid thanks to yesterday’s price explosions, we recommend taking a neutral stand.
That’s until after buyers build enough momentum and drive prices above Sep highs at around $6.5. It would even be preferable if we see gains above $7 jolting risk-averse traders back to action in line with our last EOS price analysis.
Litecoin Price Analysis
Thanks to yesterdays across rising tides, Litecoin bulls are back. On a daily basis, prices are up four percent and the results are clear. From the chart, there are clear rejections from the main support line at $50. Additionally, momentum is building though LTC is technically bearish.
Besides, note that prices are still trending inside Oct 11 bear bar in a classic effort versus results scenario. Regardless of the pump, our trading plan is clear: LTC bulls would be in charge once prices rally above $70—the lower limit of our resistance zone.
Conversely, bears should be in control in line with the bear break out pattern of early August if a whole bear candlestick print below $50 ushering in bears aiming for $30.
Stellar Lumens Price Analysis
If anything, Stellar Lumens is one of the top performers in the last 24 hours adding a massive five percent. Despite the sharp spikes, prices are yet to close Oct 11 highs. And instead what we do have is a long upper wick signaling bear pressure in lower time frames.
Regardless of the upbeat momentum, we recommend patience until after our Stellar Lumens trading conditions are met. That is, if bulls build enough momentum and drive prices above 25 cents, then buyers should ramp up on dips in lower time frames.
However, declines below 18 cents-20 cents main support would activate the next wave of sellers aiming at 8 cents or below.
Tron Price Analysis
TRX is up five percent in the last day reviving bulls in the process. But, what should be noted though is not the strong resurgence of the last few days but the realization that prices have been ranging within a tight 0.8 cents.
In line with our previous Tron price analysis, we need strong rallies above Sep highs at 2.8 cents. Thereafter, bulls can buy on dips with first targets at 4 cents.
While this is likely to print today because of yesterday’s hype around Tether, savvy traders would be better placed to reap from patience if they wait for clean close above 2.8 cents. Safe stops would be the lows of the break out bar at around 2.3 cents.
Cardano Price Analysis
The rejection of lower lows could have a medium to long term effect on Cardano and ADA prices. Besides, it’s not only stabilizing for prices but for the main wings of Cardano following an open letter by Charles Hoskinson citing performance problems from the Cardano Foundation.
So far, ADA is up three percent. But, as they print higher prices are bouncing off from the main support at 7 cents. Though we expect a follow through today, we suggest traders to take a neutral stand until after there are gains above the minor resistance trend line and later 9.5 cents in line with our last Cardano trade plan. Thereafter, aggressive traders should load on dips in lower time frames as risk-averse traders wait for rallies above 12 cents triggering high volume bulls aiming for 20 cents and later 4o cents.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
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