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Bitcoin Price Analysis: Macro Resistance Could Push Price Down to $6,000s

May 24, 2019 By Mark Lyford Leave a Comment

Summary:

The bitcoin market is seeing some pullback as the monthly and weekly resistance level has proven to be a tough level to crack. On the daily level we can see a couple of attempts to break the level, but ultimately this was matched with strong selling pressure.
On bitcoin’s four-hour chart we can see that support that once held the market up is now turning into support with a failure to reclaim the level.
If we fail to reclaim the $ 7,800s, we can expect to see a retest of the $ 7,300s and if that level doesn’t hold, we will very likely see a test of the low $ 6,000s.

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Satoshi Nakamoto Could Be Criminal Mastermind Paul Le Roux

May 13, 2019 By Mark Lyford Leave a Comment

One of the most enduring mysteries of modern times has produced another enthralling twist. Satoshi Nakamoto, Bitcoin’s pseudonymous and enigmatic creator, has not been seen online in more than eight years. Evidence has now surfaced that points to a new Satoshi candidate, whose known life has a number of parallels with that of Bitcoin’s inventor. His name is Paul Le Roux and, if proven to be Satoshi, there is a good reason why his 1 million BTC hasn’t moved – the Rhodesian has been in jail since 2012.

Also read: Blockchain Researchers Mock Craig Wright’s Unsealed Bitcoin Address List Read more...

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Belarus Could Get a Nuclear-Powered Bitcoin Mining Center

April 20, 2019 By Mark Lyford Leave a Comment

Aleksandr Lukashenko, the president of Belarus, met with the country’s IT community to discuss the growth of its native tech industry, according to the state-owned national news agency, the Belarusian Telegraph Agency.

The meeting was reportedly set up at the president’s request and he promised government support for Belarusian fintech companies.

Lukashenko also reportedly outlined some of the progress that the government has made with IT development, while also asking participants to suggest ideas that promote growth. Amongst other things, the president is reportedly planning to establish a Bitcoin (BTC) mining farm in the country. Read more...

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Founder of Mt. Gox Creditors Cooperative Resigns, Says Settlement Could Take Years

April 10, 2019 By Mark Lyford Leave a Comment

Four days ago, news.Bitcoin.com reported on the April 3 notice to Mt. Gox creditors from the court’s civil rehabilitation trustee Nobuaki Kobayashi. Now a disclosure stemming from the founder of Mt. Gox Legal explains that the coordinator, Andy Pag, is leaving the ongoing legal battle because he thinks the process could take years to settle the case.

Also read: Uyen T Nguyen: The Powerful Young Woman Behind the Alleged ‘Satoshi Affair’ Read more...

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China’s Proposed Mining Ban Could Be Detrimental to Bitmain

April 9, 2019 By Mark Lyford Leave a Comment

China’s state planning agency, the National Development and Reform Commission (NDRC), has indicated an interest in banning cryptocurrency mining in the country through a notice published online in Mandarin.

The report stated that the NDRC will include cryptocurrency mining activities to a list of sectors that could be shut down based on their violation of local regulations, wastefulness, safety concerns or harmful contributions to the environment. The list includes more than 400 other industrial activities. Read more...

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Senior eToro Analyst: Bitcoin (BTC) Could Easily Rally to $7,000

April 5, 2019 By Mark Lyford Leave a Comment

Bitcoin (BTC) is currently having its best week in months after the leading digital currency moved above $ 5,000 for the first time since November. While the rally has paused over the last few days as the market locks in recent gains, eToro senior market analyst Mati Greenspan thinks Bitcoin could go significantly higher before running into real resistance. […]
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Study Predicts Bitcoin Could Become Leading Payment System Within Decade

April 4, 2019 By Mark Lyford Leave a Comment

A new report by the software firm DataLight predicted that Bitcoin could become the world’s top payment system within the next decade if it maintains its current growth rate.

“In just 10 years, Bitcoin has managed to compete with the leaders of the payment system industry,” the report found. “Bitcoin’s development is occurring exponentially. If it maintains this pace, in another 10 years, it will surpass all competition.”

For so long, global payments have been championed by platforms like Visa, Mastercard and PayPal, who offer seamless, if flawed, payment options for individuals and companies. Read more...

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Bitcoin Price Analysis: Slow Grind Could Lead to Short Squeeze

March 19, 2019 By Mark Lyford Leave a Comment

Last Friday, we discussed a macro resistance level bitcoin would likely test. The level was tested three times prior and immediately rejected. Now, for the fourth time, we find ourselves situated above the level as we wait to see if our support holds:

Figure 1: BTC-USD, Daily Candles, Fourth Test of Macro Resistance Read more...

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Bitcoin Price Analysis: Could Three Times Be the Charm for This Resistance Level?

March 16, 2019 By Mark Lyford Leave a Comment

Bitcoin remains in its tightly coiled range as the market continues its sideways trend for the third week in a row. While macro support has been tested three times recently, we have yet to test the overhanging macro resistance:

Figure_1 (8).png

Figure 1: BTC-USD, Daily Candles, Narrow Range

The blue zone outlined above shows a very strong zone of support that, over the last few weeks, has seen three strong tests and has led to a slowly upward-drifting market consolidation. Since re-establishing support, the market has yet to see a meaningful retest of the overhead resistance outlined above in the red dashed and solid lines. The immediate resistance sitting overhead has, historically, been a highly volatile period where supply has manifested and stifled any bullish pressure: Read more...

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Report: Facebook’s Coin Could Hit Exchanges in the First Half of 2019

March 1, 2019 By Mark Lyford Leave a Comment

Facebook (FB) made waves in December when Bloomberg revealed that it is developing a stablecoin designed specifically for money transfers on its WhatsApp encrypted mobile-messaging app. Now, a report by the New York Times reveals that Facebook’s development is far enough along that it is already holding conversations with exchanges about “selling [the coin] to consumers.” […]
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Bitcoin Price Analysis: Bullish Setups Could Break Current Market Structure

February 23, 2019 By Mark Lyford Leave a Comment

The cryptomarket remains coiled as we lead into the weekend with no new highs and no new lows being established for bitcoin. However, it is nicely consolidating on lower time frames and hints toward the possibility of another leg up:

Figure_1 (1).png

Figure 1: BTC-USD, Hourly Candles, Consolidating Pennant Read more...

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Mike Novogratz Says Institutional Capital Could Drive Bitcoin (BTC) to $8,000 This Year

February 14, 2019 By Mark Lyford Leave a Comment

Former Goldman Sachs partner Mike Novogratz believes institutional investors are poised to enter the crypto market soon due to recent and future advancements in custody solutions. In a recent interview on Bloomberg, Novogratz shared that he believes Bitcoin’s (BTC) next major rally will be on the back of institutional capital flowing into the market. “All the architecture […]
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Report: Esports Revenue Could Eclipse $1 Billion in 2019

February 13, 2019 By Mark Lyford Leave a Comment

The esports industry could reach new highs in 2019, as a recent report by esports analytics firm Newzoo suggests that revenue is expected to hit $ 1.1 billion as brand investments continue to expand. In the report, Newzoo predicts that media rights, advertising, and sponsorship revenue will reach nearly $ 900 million, representing 82% of all industry revenues. […]
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Report: Indian Government Concerned Cryptocurrencies Could Undermine the Rupee

February 5, 2019 By Mark Lyford Leave a Comment

The Indian government panel tasked with drafting crypto regulation is reportedly worried that cryptocurrencies could destabilize the rupee if they are accepted as payments. Its concern came to light despite evidence that cryptocurrencies do not currently pose a threat to financial stability.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Impact on the Rupee

The Indian government committee tasked with developing the regulatory framework for cryptocurrencies is reportedly “obsessed” with the impact they may have on the rupee if they are allowed to be used in payments, Quartz India reported. The committee is headed by Subhash Chandra Garg, Secretary of the Department of Economic Affairs. Read more...

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Dow Jones Sess Stunning 10% Recovery, But This One Key Factor Could Fuel Even More Growth

February 1, 2019 By Mark Lyford Leave a Comment

Since January 3, within a one-month span, the Dow Jones Industrial Average has recovered from 22,682 points to 25,102 points, by more than 10 percent. It has been a stunning 30 days for the Dow Jones, which was at risk of entering a bear market after falling by 19 percent from its all-time high. The short-term recovery of the Dow was mainly attributed to the Federal Reserve rate, which is expected to remain stable in the range of 2.25 percent to 2.5 percent. But, another key factor may have largely affected the sentiment around the U.S. stock market throughout the Read more...

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Watch: Why This Video Could Doom Kik’s SEC Fight

February 1, 2019 By Mark Lyford Leave a Comment

Kik CEO Ted Livingston may have already doomed the chat app’s chances to win its high-profile legal battle with the US Securities and Exchange Commission (SEC) regarding its Kin cryptocurrency, a video uncovered by The Block suggests. Kik’s SEC Gambit As CCN reported, the SEC has sent Kik a “Wells submission,” a prelude to suing the Canadian company for violating securities regulations via its nearly $ 100 million initial coin offering. The letter from the SEC reads, in part: This proposed action would allege violations of Sections 5(a) and 5(c) of the Securities Act. The recommendation may involve a civil injunctive Read more...

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Fidelity’s Bitcoin Custody Service Could Launch This March

January 31, 2019 By Mark Lyford Leave a Comment

Fidelity Investments, one of the world’s largest asset managers, is breaking into bitcoin custody.

According to a recent report from Bloomberg, three people “with knowledge on the matter” from firms in contact with Fidelity have said that the company is tentatively planning to launch a custody service for bitcoin in March.

This move would fall in line with the company’s recent pushes toward the crypto space. Last October, Fidelity announced the creation of a platform for institutional traders to invest in cryptocurrencies, using over-the-counter trading and cold storage to ensure the security of the various assets. Read more...

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Iran Could Announce a State Cryptocurrency to Evade US Sanctions Today

January 29, 2019 By Mark Lyford Leave a Comment

As U.S-imposed sanctions continue to cripple Iran economically, the Islamic state is reportedly on the verge of announcing its state-backed cryptocurrency. The ability of Iranian financial institutions to conduct transactions and relate with the rest of the world has been shackled since the sanctions were enforced and many believe the Iranian cryptocurrency will help abate some of the effects of the sanctions. To further stoke the rumor fires, it has been reported that the Iranian government expects to make an announcement concerning the digital asset at the annual Electronic Banking and Payment Systems Conference, which kicks off in Tehran on January Read more...

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Bitcoin Could Fall Below $1,260 if the Bear Market Continues: JP Morgan Analysts

January 25, 2019 By Mark Lyford Leave a Comment

By CCN.com: Wall Street firm JP Morgan has predicted that HODLers should expect to experience more pain if the crypto winter persists. According to JPMorgan analysts, the price of bitcoin could fall to as low as $ 1,260, Reuters reports. The same analysts have, however, estimated that bitcoin’s ‘cost support’ is at around the $ 2,400 level. … Continued

The post Bitcoin Could Fall Below $ 1,260 if the Bear Market Continues: JP Morgan Analysts appeared first on CCN

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Could This Crypto Ransomware Cripple China’s Bitcoin Mining Industry?

January 25, 2019 By Mark Lyford Leave a Comment

By CCN.com: China’s sprawling bitcoin mining industry is being targeted by a terrifying new ransomware strain that is threatening the economy of the Sichuan river basin where most mining farms are located, housing a huge percentage of the bitcoin blockchain’s hashpower. First detected in August 2018, the ransomware which is called “hAnt” has been observed

The post Could This Crypto Ransomware Cripple China’s Bitcoin Mining Industry? appeared first on CCN

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