Bitcoin, Bitcoin Cash Price Analysis: Marking the Green - Global Coin Report
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Bitcoin, Bitcoin Cash Price Analysis: Marking the Green

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Bitcoin

Bitcoin crossed the $6400 and $6600 resistance levels to move into the Buy zone.

Bitcoin Cash crossed the resistance levels $760 and $780 and continues to move in the green.

Bitcoin

Price Analysis

  • High: $6753.85 USD
  • Low: $6663.51 USD
  • Major Resistance Level: $6800
  • Hourly MACD: Slightly placed in the Buy region.

Image courtesy of tradingview.com

“I don’t believe any client has sought out crypto exposure,” said Larry Fink, CEO of BlackRock.

The BlackRock news had surged the Bitcoin price to a slightly stronger upward movement on Monday (16th July 2018). As observed from the chart, even though Bitcoin price is currently sporting a little red candle, the overall trend so far continues to be bullish. In fact, according to Trading View, the technical analysis bar at the time of writing shows that the crypto coin is placed slightly in the Buy zone. For some time, last week, the BTC/USD pair had been trading below the $6400 level. So, the break of Bitcoin from this situation to the Bullish zone is a welcome news. At the time of writing, the BTC/USD pair is trading at $6709.98 with the moving average (blue line) pointing at 6428.88 approximately.

As can be observed from the chart above, the BTC/USD had a fair share of downtrends rather than uptrends. However, Bitcoin crossing even the $6600 level yesterday has raised hopes again. Now, it is to be seen whether the pair crosses the $6800 resistance level. But, the present slight downward movement may make the situation more challenging.

Bitcoin Cash (BCH/USD)

Price Analysis

  • High: $809.5 USD
  • Low: $781.9 USD
  • Major Resistance Level: $810
  • Hourly MACD: Placed in the Buy zone slightly and likely to maintain it.

Image courtesy of tradingview.com

Yesterday, after Bitcoin Cash (BCH) had once crossed the $760 resistance level, the crypto coin had quite rapidly moved up to the $780 resistance line and crossed it. At the time of writing, as the chart shows, the BCH/USD pair is trading at $800.4. (As of 17th July 2018) The blue line (moving average) at the time of writing shows 725.22, as can be seen on the chart. There is a chance that Bitcoin Cash will continue to see an uptrend if the present situation continues. The BlackRock news also had a positive effect on the Bitcoin Cash market like on many other crypto coins. This had also created a rising pressure among the buyers and moved the pair to the Buy zone. One can expect Bitcoin Cash to strongly move into this region if the current trend continues. There is also a chance that the pair experience a slight upward and downward movement (daily range) before setting above the $800 resistance level.

The Financial Industry Regulatory Authority (FINRA) and the SEC together had given Coinbase the permission to acquire two more companies—Venovate Marketplace Inc. and Digital Wealth LLC. It was reported by Bloomberg. This may also have a positive effect on the overall cryptocurrency market and continue to keep both Bitcoin and Bitcoin Cash as well as other cryptocurrencies in the green zone.

Happy Trading~

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Charts courtesy of tradingview.com

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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Bitcoin

The Pros And Cons Of Cryptocurrency

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cryptocurrency

Many facets of our lives are now digitized––money is no exception. 

Have you noticed that paper money is on its way to being obsolete because so many people receive direct deposit and love the simplicity of their debit card? 

Not to mention, cash carries germs, as we’ve heard lots about during the pandemic. Many businesses have turned to card only options in light of this. 

But what about cryptocurrency?

You probably heard everyone raving about it a few years ago, but the excitement’s calmed down quite a bit. That doesn’t mean that it’s not a viable option you should keep in mind. 

What’s Cryptocurrency? 

Let’s start with the basic definition of cryptocurrency so we’re all on the same page. Cryptocurrency utilizes cryptographic methods and complex coding systems to encrypt sensitive information during data transfers. This protects your funds and personal information on a whole different level. 

These transactions are virtually impenetrable due to the combination of mathematical and technological protocols created and put in place. This aspect of cryptocurrency is what makes it safer. Also, the details of transactions are kept private. No one can see who sent what, etc., because those rigorous mathematical and technological protocols protect it.

The Pros: 

Different From Traditional Banking Transactions

One thing people hate about traditional banks is the fact that they can…

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Bitcoin

As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to buy and hold. 

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