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Bitcoin, Bitcoin Cash Price Analysis: Pausing for Direction

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Bitcoin
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Bitcoin, experiencing bull run, moved beyond $7300 USD and shows positive signs.

Bitcoin Cash showed a decline after reaching the $840 level and is correcting its position.

Bitcoin (BTC/USD)

Price Analysis

  • High: $7414.85 USD
  • Low: $7281.42 USD
  • Major Resistance Level: Near $7600
  • Hourly MACD: Placed in the Buy region with a positive attitude.

Chart courtesy of tradingview.com

“I think then you will have something that will end up being somewhere around $20,000-$40,000” Marc Lasry, co-founder of Avenue Capital Group on CNBC regarding Bitcoin price.

The BTC/USD pair is currently in the mood of setting a short-term bullish flag pattern where the support slightly above the $7300 level, as can be observed from the chart. Bitcoin (BTC) has been gradually progressing towards the green from 14th July 2018, and the BlackRock news seems to have strengthened it on 16th July when the price surged upwards to a little above $6730 USD.

At the time of writing on 19th July 2018, the price action of the BTC/USD pair shows an uptrend even while it keeps consolidating the position. At the time of writing, as can be seen from the chart, the price of Bitcoin shows $7380.02 USD. The moving average (blue line) marking at 6695.1433 indicates the price, at least for the time being, is most likely to move upward.

Yesterday, the weak support at the $7400 level had failed to gain strength and had thus required lower corrections. This had made the space a little more volatile with the formation of slight bearish trends today some time. The corrections will most likely continue until the price settles strongly above the major resistance line near the $7400 level. Meanwhile, the hourly MACD shows that the crypto coin is placed slightly in the Buy region.

Bitcoin Cash (BCH/USD)

Price Analysis

  • High: $831.2 USD
  • Low: $803.4 USD
  • Major Resistance Level: $900
  • Hourly MACD: Placed slightly in the Sell region.

Chart courtesy of tradingview.com

Holding onto the green candles till 17th July 2018 from 13th July 2018, the BCH/USD pair had shown bearish signals yesterday. At the time of writing, however, the price of Bitcoin Cash (BCH) shows $824.9 USD and is sporting a small green candle. As of now, it can be said that the pair is testing the $800 support region.

On 17th July, the Bitcoin Cash price had reached above the $850 resistance against the US dollar. A high had formed neared the $890 level with an eye on the $900 resistance level. The chances of continuing in the upwards direction for the BCH/USD pair depends on how it strengthens on the $800 support line, currently.

The moving average (blue line), at the time of writing, marks at 757.2333. This also indicates that the pressure has bordered on the sellers that have placed the crypto coin slightly in the Sell region. If the position strengths then, it will again create a pressure on the buyers.

Both Bitcoin (BTC) and Bitcoin Cash (BCH) are correcting their positions against the US Dollar at the time of writing and is trying to create a stronger support line.

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

Trusted Crypto Tumbler To Protect Your Wealth

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Back when Bitcoin originally emerged, over 11 years ago at this point, cryptocurrency transactions were believed to be fully anonymous. This belief stuck around for years to come, but today, we know that, in most cases — this is no longer the truth.

Since the invention of blockchain explorers, it became possible to track every Bitcoin transaction, all the way back to the genesis block. This came as a part of blockchain transparency which promises to eliminate corruption, theft, and other such issues.

However, there is still a need for a certain level of privacy, as people like to keep their wealth to themselves, and not let everyone know how much money they have, or how much they sent for whatever purpose. This is why many are now using crypto tumblers, or mixers.

What do crypto mixers do?

As the name suggests, crypto mixers/tumblers mix up the coins in order to hide/disguise/make it difficult to discover where the coins came from. Things like the amounts, transactions, and wallet addresses to and from which the coins travel are fully traceable, which is why tumblers exist.

In a way, you could say that mixers can add an extra layer of privacy while using Bitcoin, Ethereum, Litecoin, and many other cryptocurrencies. There are many Bitcoin mixers Continue Reading

Bitcoin

5 Best Places to Bet with Bitcoin

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places to bet with Bitcoin
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It seems like BTC is always making headlines for one reason or another.

When the market points towards bullish behavior Bitcoin is all the rage. When there is so much long action (going on right now) and then the price plummets, BTC also dominates the headlines. The same goes for legislation and when any new crypto product or platform comes out. It’s always compared against BTC.

So with BTC fever in full swing, sportsbooks around the world have adopted digital currencies as one of their main forms of funding accounts and paying out winnings. And with sports betting legalized in states across the USA, both BTC and legal online gambling are in the limelight. 

But where are the best places to bet using BTC and other cryptos? Furthermore, why would you want to use BTC, LTC, or Ethereum in this manner?

The Why

The principal reason why you would want to use cryptocurrencies in your ‘sports investing’ ventures is speed, cost, security, and bonuses.

When you use cryptos like BTC (BTX) to move money in and out of your account. You bypass the standard centralized banking system which drastically improves on both the speed of the transaction and the cost of the transaction – this is especially true with payouts. 

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Bitcoin

Bitplaza Inc Introducing Cryptocurrency to Retail

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BitPlaza
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Even though influential companies are not ready to validate cryptocurrencies as a stable form of money, Bitcoin is becoming a more frequently used currency daily. There is a rising number of companies that accept Bitcoin for the purchase of their products, validating it as a spendable currency around the globe.

Bitplaza Inc took the next step into technology and commerce, providing customers with a platform where they can spend Bitcoins for their needs through a mobile device. It opens the opportunity for companies and brands to list their products in exchange for Bitcoin, which will give more credibility to the coin.

What is Bitplaza?

Bitplaza is a shopping app that belongs to a retail company called Bitplaza Inc, located in Pennsylvania. The app is available on both Google Play and the Apple App Store. Bitplaza allows anyone globally to purchase brand new items with Bitcoin. The app has a wide variety of products to buy online, from electronic devices, video games, even groceries. The products that can be purchased from the app range from popular brands such as Sony, Starbucks, Adidas, Apple, and many more. The Bitplaza team is always adding new products to the shopping app, making more items available to be purchased with Bitcoin. The app covers a broad range of products for the different needs of the…

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