Fortnite fans can now buy merchandise for the blockbuster online video game using the cryptocurrency Monero (XMR). Bitcoin payments are not yet accepted, reportedly due to privacy concerns. While Fortnite did not make an official announcement, fans shared the news on Reddit on January 1, where it received a very positive reception. Monero enthusiasts said the move
Archives for January 1, 2019
In an op-ed written exclusively for CoinDesk, Chelsea Palmer argues that defining blockchain governance must be a priority for 2019.
- Bitcoin price formed a support base near $3,625 and later moved higher against the US Dollar.
- There was a break above a major bearish trend line with resistance at $3,710 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The price is placed nicely above the $3,700 level and it may continue to move higher in the near term.
Bitcoin price is gaining bullish momentum against the US Dollar. BTC may dip a few points, but it remains supported near $3,700 and $3,625.
Bitcoin Price Analysis
Recently, there was a downside reaction from the $4,032 high in bitcoin price against the US Dollar. The BTC/USD pair traded below the $3,900 and $3,820 support levels. Later, the price declined below the $3,700 level before buyers appeared near the $3,625 support. A base was formed and the price started a fresh upward move. It broke the $3,700 resistance and the 100 hourly simple moving average.
The price cleared the 23.6% Fib retracement level of the last decline from the $4,032 high to $3,625 low. Moreover, there was a break above a major bearish trend line with resistance at $3,710 on the hourly chart of the BTC/USD pair. The price spiked above the 50% Fib retracement level of the last decline from the $4,032 high to $3,625 low. However, there was no proper close above the $3,820-3,850 resistance area. At the outset, the price is correcting lower and it may dip a few points towards the $3,720 or $3,700 levels.
Looking at the chart, bitcoin price remains well supported on the downside above $3,700 and $3,625. On the upside, buyers need to clear the $3,850 and $3,890 resistance levels to push the price towards $4,000.
Looking at the technical indicators:
Hourly MACD – The MACD for BTC/USD is showing positive signs in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI is placed well above the 50 level with a minor bearish angle.
Major Support Level – $3,700
Major Resistance Level – $3,850
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- ETH price formed a support base near the $128 level and bounced back against the US Dollar.
- There was a break above a major bearish trend line with resistance at $134 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is placed in a positive zone and it may continue to move higher towards $150 or $155.
Ethereum price is back gaining pace against the US Dollar and bitcoin. ETH/USD could accelerate and test the next resistance near the $150 level.
Ethereum Price Analysis
Recently, there was a dip towards the $128 level in ETH price against the US Dollar. The ETH/USD pair found a strong buying interest near $128, resulting in a decent upside move. The price bounced back and traded above the $130 level and the 100 hourly simple moving average. Moreover, there was a break above the 50% Fib retracement level of the last decline from the $146 high to $128 low.
More importantly, there was a break above a major bearish trend line with resistance at $134 on the hourly chart of ETH/USD. The pair spiked above the $138 level and tested the $140 resistance level. However, the price seems to be struggling to clear the $140-141 zone. It represents the 61.8% Fib retracement level of the last decline from the $146 high to $128 low. If there is a proper close above the $140 level, the price is likely to climb further higher towards the $144 and $148 resistance levels. The main hurdle for buyers is near the $150 level.
Looking at the chart, ETH price is back in a positive zone above the $134 level. However, it needs to surpass the $140 barrier to continue higher. On the downside, an initial support is at $137 level followed by the $133 level.
Hourly MACD – The MACD is gaining pace in the bullish zone.
Hourly RSI – The RSI is now placed well above the 60 level.
Major Support Level – $133
Major Resistance Level – $140
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CoinCodeCap.com keeps track of the development activity of dozens of cryptocurrencies. Bitcoin is the 52nd most active cryptocurrency in terms of development, though it is the most active in terms of daily trading volume. It also has the largest market capitalization by far, and arguably more liquidity than several national currencies around the world. The
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According to a recent Reddit post crunching the numbers for the latest merchant accepters of Bitcoin Cash, the number of online stores accepting BCH could be over 945 and the number of brick-and-mortar retailers around 670. One Reddit user, likely connected with the Bitcoin Cash Association, listed the latest statistics for Bitcoin Cash (BCH) adoption
Cryptocurrency exchange HitBTC has frozen its customers’ accounts ahead of an annual proof of keys event, according to multiple sources. On December 31, 2o18, the company responded to an open complaint on Reddit after the user accused them of suspending his withdrawal requests. Redditor PEDXS said that he had dutifully passed the know-your-customer test after
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Bitcoin price on January 1st saw a minor decline of less than 1 percent against the US Dollar on a 24-hour adjusted timeframe. The digital currency, which established a weekly high towards $4,239 ahead of Christmas, corrected to as low as $3,561 on Coinbase in later days. It attempted a minor bull run on December
The post Bitcoin Price Celebrates New Year Inside a Near-Term Descending Channel appeared first on CCN
Although the traditional equities markets and the crypto markets don’t have a ton in common, they both had a rough 2018, and investors in both markets are hoping that 2019 proves to be different.
Despite being a rough year price-wise, many analysts see the drops in both markets as being temporary, which could mean that 2019 will be highly profitable for investors who have been disheartened by the recent volatility.
Crypto Markets Down Significantly Over One-Year Period
Last year at this time the crypto markets were in the midst of a parabolic bull run that sent their overall market capitalization to highs of $830 billion on January 7th. From this point, the market began its decline that would last the entire year and spill into 2019.
In December, the crypto market capitalization fell to lows of $100 billion, from which it has recovered slightly to its current levels of $126 billion.
Bitcoin, which generally tends to lead the market’s performance, first began its downwards descent on December 17th, 2017, where its price surged to highs of just under $20,000 before its upwards momentum stalled and it sharply fell to $7,300. From this point, it traded sideways for a while before drifting downwards to its current price levels.
Although Bitcoin’s drop began in mid-December, the altcoin markets were still red hot at this time, and mainly began to drop in early-January.
XRP, for instance, hit its highest point of approximately $3.75 on January 3rd, from which point it began dropping before bouncing at $0.60 on February 6th. From here, XRP, and all altcoins, began to closely track Bitcoin’s price action, and began their year-long descent.
Stock Market Also Had a Rough Year
Although no global markets rivaled the 90% drops that many cryptocurrencies saw in 2018, the traditional equities markets also ended the year on a less-than-positive note, with the US stock market posting its worst year in a decade, with the losses being driven by increasing trade tensions between the US and China, the ongoing US government shutdown, rising interest rates from the Fed, and Brexit concerns.
After posting some gains this past Monday, the Dow Jones Industrial Average and the S&P 500 ended 2018 down 5.6% and 6.2% respectively. The last time these benchmarks posted annual losses this large was in 2008, where they dropped 33.8% and 38.5% respectively.
Although many investors are expecting further losses in the stock markets in 2019, John Stoltzfus, the chief investment strategist at Oppenheimer Asset Management, said that 2019 will likely hold positive surprises for equities investors.
“With what we believe to be almost all but the kitchen sink priced into current valuations, we see opportunity for multiples to return to levels seen at the end of the third quarter … with multiple expansions resulting in a global equity rebound in the coming year,” he bullishly explained.
Stoltzfus further added that he does not expect any significant rally to occur until sometime into the first quarter of 2019.
“That said, we do not expect a rally of great significance to emerge until sometime into the first quarter of 2019. We look for market risk to weigh on investor sentiment into the new year until catalysts for a rally of some material significance appear on the scene,” he added.
Featured image from Shutterstock.
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A class action lawsuit has been filed against tech giant Nvidia, with the plaintiffs accusing the company of making misleading statements about how it can help mitigate the effects of the reduced demand from the cryptocurrency market. The suit was filed by the Schall Law Firm, who specializes in shareholder rights litigation and securities-related class
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