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Bitcoin, Bitcoin Cash Price Analysis: Marking the Green

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Bitcoin
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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

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Bitcoin

The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

The first of…

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