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Bitcoin Ethereum Roundup: Bitcoin Deja Vu

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As we start Monday, September 17th, it certainly feels like deja vu for me. We keep seeing the same Bitcoin price of 6100 to 6500 that we have seen all year. This is where Bitcoin has spent the majority of 2018. While some are disappointed, I look at as a positive. Bitcoin has been able to retain value and a floor looks to have been established. The shorts had the opportunity to push the price down when Ethereum was under $180 and Bitcoin held its own. Furthermore, talking to guys on the OTC desks and the feedback that I am getting is that there are a lot of shorts covering around the 6100 level and many buyers come out of the woodwork.

Looking at the Daily Chart (I post the BitMex price because that’s where I trade to take advantage of leverage opportunities) and you will see the wedge getting tighter. We are going to see a breakout one way or another. While I think it will be to the upside, we cannot rule out the downside, especially when I look at the 4-hour chart.

My only concern right now is time. If you look at the 4-hour chart, we’ve been hovering near resistance of 6500 for quite a while. We’ve had 2 momentary selloffs where the stops were run. Lows of 6350 and 6330 came into play. What I am looking at on the downside is the 6100 double bottom on the 4-hour chart. If we take the 6100 out, the downside can get pretty aggressive and we might see fresh lows for the year.

Ethereum

Ethereum has had a nice bounce off the lows and has run into resistance at 230. At the time of this writing, Ethereum is trading at 215. As long as we hold above 200, we should be alright. The market consolidating above 200 is a positive and believe we have seen the lows. I could be wrong, but I have wagered accordingly and I’m long Ethereum.

As you can see from the 4-hour chart above, the market is straddling the 220 level in much the same way that Bitcoin is straddling the 6500 level. The market is consolidating and there is a lack of momentum from the bulls or the bears to press prices.

When there is a lack of momentum, I call this the neutral zone. If one doesn’t already have a position, best off staying on the sidelines. Let the market find it’s direction and then jump on it.

Bottom line

I just want to stress that no one truly knows where crypto prices are heading. Price predictions are just hot air and noise. Ignore it! Focus on the market and the price. While I am do believe the lows are in and we are above those lows, that doesn’t mean I will be correct. The market can turn on a dime and we could be plunging. If that happens, I will be stopped out and look to possibly go short or I will wait and look to buy at lower prices. I have to watch the market and that will determine my next moves. Right now, I am long but nervous. Stops are in place. Trade accordingly.

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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. This author is long Bitcoin and Ethereum. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Is Bex500 an alternative to BitMEX?

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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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How Bitcoin Has Changed 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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The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

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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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