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Key Points  Bitcoin cash price is trading with a positive bias above the $800 support against the US Dollar.  There is a major bearish trend line in place with resistance near $830 on the hourly chart of the BCH/USD pair (data feed from Kraken).  The pair has to break the $830 resistance to climb higher towards the $860 resistance.  Bitcoin cash price is likely to trade higher above $840 against the US Dollar. BCH/USD may perhaps test $860, which is a key resistance for buyers. Bitcoin Cash Price Resistance There was a solid support formed near the $780 level in bitcoin cash price against the US Dollar. The BCH/USD pair started an upward move and traded above the $800 resistance. Buyers were successful in pushing the price above the 50% Fib retracement level of the last decline from the $863 high to $778 swing low. It opened the doors for more gains and the price settled above $820 and the 100 hourly simple moving average.  However, the price w...

The CEO of Russian payment services provider Qiwi Sergey Solonin has claimed that an ex-employee of the company used its payment terminals to mine bitcoins in 2011. The programmer, who has not been named by Solonin, has managed to mine 500,000 bitcoins, according to a July 25 report by news site Meduza. During his lecture at the Moscow Advanced Communications School (MACS), Sergey Solonin said that one of Qiwi’s programmers had used its payment terminals for cryptocurrency mining, managing to mine 500,000 bitcoins in 2011, worth about $5 million that year and $4 billion today. Solonin said: According to Meduza, Qiwi has managed to detect their employee’s mining operation after noticing the increased electricity usage by the terminals during the night. Upon being discovered, the programmer refused to give up his fortune and resigned from the company.  Solonin added that after seeing that using Qiwi’s terminals for Bitcoin mining would apparently bring more profit than ...

The cryptocurrency market cap crossed a major milestone on Tuesday, surpassing the $300 billion mark for the first time since mid-June amid growing optimism that the bitcoin price is entering a new bull cycle. The last time the overall market traded above $300 billion was June 12, bringing the index to a six-week high. The market has now added more than $30 billion in the past week and more than $60 billion in the last month.  Bitcoin Price Hits Two-Month High   The bitcoin price remained the primary driver of the rally, and the flagship cryptocurrency crossed the $8,000 mark shortly before the overall market cracked $300 billion. At one point, the bitcoin price rose as high as $8,363 on Bitfinex, though it has since receded to a present value of $8,229 for a daily gain of just under seven percent. BTC now has a total market cap of $141.1 billion, which represents a weekly increase of nearly 20 percent and translates into a 47 percent share of the overall market. ...

Bitcoin price is now trading above $8,000, a figure unseen in over 60 days. The price of the world’s first and largest cryptocurrency spiked over $200 in the early trading hours of Tuesday (UTC) to hit a high of $8,043 (Bitfinex), a figure unseen since trading levels on May 22. At press time, bitcoin is trading to the dollar at $8,018 after days of sustained momentum that sees the value of the cryptocurrency make gains after hitting a 2018-low of $5,755 on June 24, a month ago to the day. As reported by CCN yesterday, the bullish sentiment follows breaking a major resistance level at $7,800 and it remains to be seen if bitcoin can find $8,000 as a key support level in the short-term. Key to bitcoin’s resurgence is the uptick in daily trading volumes with data from Bitfinex showing over $350 million in the BTC/USD trading pair over a 24-hour period. Bitcoin’s gains also coincide with its dominance in market capitalization across the cryptocurrency ecosyst...

Key Highlights Ripple price found support near the $0.4300 level and recovered a few points against the US dollar. There was a break above major connecting bearish trend line with resistance at $0.4500 on the hourly chart of the XRP/USD pair (data source from Kraken).  The pair is currently attempting an upside break above $0.4620 the 100 hourly simple moving average.  Ripple price is trading with a positive bias against the US Dollar and Bitcoin. XRP/USD must break $0.4620 and $0.4650 to accelerate higher in the near term.  Ripple Price Resistance This past week, there was a sharp decline in Ripple price from well above the $0.5000 level against the US Dollar. ' The XRP/USD pair declined and cleared the $0.4600 and $0.4500 support levels. There was also a close below the $0.4500 level and the 100 hourly simple moving average.  The price traded as low as $0.4292 before buyers took a stand and protected more losses.  Later, the price started an up...

Dominic Lacroix, the subject of ICO fraud charges, transferred $3.7 million worth of bitcoins to a court-appointed administrator right in a Quebec City courtroom on July 6 as ordered by a judge, according to ICI Quebec. Canada’s Financial Markets Authority and the U.S. Securities and Exchange Commission claimed Lacroix was responsible for a fundraising scheme to bilk $15 million from investors. Regulators Freeze Assets The U.S. and Canadian regulators were granted court approval to freeze the assets of Lacroix and Sabrina Paradis-Royer, his wife.  Judge Raymond W. Pronovost on Thursday ordered Lacroix to give his bitcoins to the administrator and to come to the courtroom Friday to confirm the transaction.  The attorney for the court-appointed temporary administrator for the couple’s assets, Hugo Babos-Marchand, had said the bitcoins could be transferred easily. Lacroix told the judge the transfer was complicated by the seizure of his computers. Officials then brought a com...

Since Bitcoin prices flirted with $20,000 at the end of the last year, there have been several corrections that have taken it below key support levels. But there’s one support level that seems to be holding well: $6000. There are three explanations for that. One of them is technical. $6000 represents a 70 percent decline from Bitcoin’s high of $20,000 in December 2017,” says Ben Marks, CEO and Founder of Blocktrade Capital. “Of the nine previous Bitcoin corrections that have ever occurred, the average retracement is 64 percent, and if you only look at corrections lasting longer than 50 days, the average retracement is 76 percent. Thus the 70 percent decline that $6,000 represents is right in line with historical figures.” Then there’s phsychology. “I believe that when the Bitcoin price dips below $6,000 and into the $5,000 range it triggers something in traders and developers that spurs them into action and gets them collaboratively doing whatever is necessary not to let the ...

BITCOIN has shed over $300 so far today as the weekend's positivity sours. However, a leading cryptocurrency 'philosopher' has claimed that bitcoin's rise as the world’s dominant money form in underway and prices will hit a staggering $100m by 2030. The article on Yahoo (that doesn't have a single direct quote from Mr Krawisz) argues that the cost of rejecting bitcoin will exceed the cost of adopting it as more people start to use the cryptocurrency.  On the $100m by 2030 valuation, the article claims that 20 percent of bitcoin total supply will be missing or lost in the future, which means there will only be about 16.8 million coins in circulation.  When the global value of money 1.8Q, is divided by the total 16.8 million coins, we hit the expected bitcoin value of $100 million.  Mr Krawisz distanced himself from claims in the article on Twitter. He said: Most of the claims attributed to me in this article are not true. I never claimed any specific valu...

Bitcoin continues to trade near yearly lows and many investors are taking comfort in the popular saying, ‘The bigger the base, the higher the space.’ but has the digital currency actually found a bottom yet? This week BTC $6844.83 +0.02% struggled to break above the descending triangle bottom and so far has traded in a tightening $400 range. Later in the day, Bitcoin dipped below the 20MA and short-term technical charts remain biased toward bears.  The neckline of last week’s double bottom near $6,250 now serves as a support and a decline beneath this point would be problematic.  At the same time, an inverse head and shoulders formation is  beginning to appear and if BTC continues to decline below the 20 and 50-MA the right shoulder of the H&S pattern would be complete and BTC could make a quick leap from $6,050 to the descending triangle bottom at $6,705.  To date, the general consensus amongst those in the ‘learned’ community is that BTC has yet to ...

After a sluggish start to the year, bitcoin started the month of July with a 12 percent rebound off last week’s lows. The cryptocurrency rose 4 percent Monday to a high of $6,661.76 as of 2:30 p.m. ET, according to data from CoinDesk. Last week, bitcoin skidded to its lowest level since November, under $6,000, which traders attributed to CME futures contracts expiring and overall lackluster interest from new buyers. The world’s largest and first cryptocurrency has struggled from that lack of enthusiasm, and prices have dropped 52 percent since January, according to CoinDesk. Still, bitcoin is up 145 percent since last July and saw roller coaster trading for the remainder of last year. The digital currency rose more than 1,300 percent to almost $20,000 in 2017, pushed higher by a wave of retail investors. Bitcoin's one-week performance The fanatical interest has also waned for other cryptocurrencies. Ethereum is down 40 percent this year, while XRP has dropped about 80 pe...

The world is in the middle of a second gold rush — but it’s not gold they’re mining today. It’s Bitcoin and other cryptocurrencies, ones and zeroes that are being turned into pure profit. Around the globe, they’re making millions from machines, minting with microchips, printing money with printed circuit boards. These mines aren’t holes in the ground, of course, but rather server rooms where shelves full of highly specialized computers with Application Specific Integrated Circuits (ASICs) work round the clock to mine bitcoin. They do this by solving extremely difficult math problems, and all that work tends to make them get really, really hot. The solution, of course, is to supply them with a steady supply of cold air to prevent them from overheating. Meaning bitcoin mines are very specialized environments with crucial heating and cooling needs, specialized computers, and very unusual environments. We toured one in northern Washington state recently; it was like stepping int...