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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

Bitcoin

Is Bex500 an alternative to BitMEX?

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Bex500
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An all around review of Bex500

Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders. 

Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.

Bex500 says they are making crypto margin trading “easier” and giving you a better return. 

Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange

Question 1. What features does Bex500 have?

Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.

-A fair trade with no overload

Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.

Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…

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Bitcoin

How Bitcoin Has Changed Online Gaming

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online gaming
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We always hear how Bitcoin is great for the financial industry, how it can remove the middleman and help you save money while you spend money. How it can provide fast transactions at any time to any place, even when you wish to send money to someone on the other side of the world.

While all of that is true, it is important to remember that Bitcoin’s impact does not end there. The coin has already changed countless other industries, but one of the first ones that have accepted it with open arms — and therefore one that was changed the most — is the online gaming industry.

Bitcoin’s impact on online gaming

The first thing to note here is that digital currencies have found their use in online gaming thanks to microtransactions. However, it goes far beyond simply purchasing an in-game item from another player. Bitcoin’s biggest impact, without a doubt, concerns online gambling, sports betting, and similar activities.

Bitcoin brings security and anonymity

Bitcoin casino has become one of the new most popular places for an online gambler to visit, and for numerous reasons. Bitcoin brought increased security — to the financial industry, as well as online games. This is important because security is crucial for anyone who enjoys online gambling. It…

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Bitcoin

The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

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blockchain
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Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated. 

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified. 

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders. 

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

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