PR: Cred and Bitcoin.com Join Forces to Boost Crypto Lending

By John Yearwood
Correspondent
Amid a dramatic bull run, two of the most influential names in the blockchain finance industry have launched a platform to expand global lending and earning on investments in cryptocurrency.
The partnership betw
Source: devcoins
PR: Cred and Bitcoin.com Join Forces to Boost Crypto Lending

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Bitcoin Cash Multi-Party Escrow, Retail Adoption, and Upgrade Discussions

Another week has passed for the (BCH) community and as usual, there’s been a bunch of announcements and developments. BCH supporters this week saw the release of a -party onchain escrow system, Ethereum cofounder Vitalik Buterin di
Source: devcoins
Bitcoin Cash Multi-Party Escrow, Retail Adoption, and Upgrade Discussions

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Growing hashpower means Bitcoin and Bitcoin Cash could halve at the same time

Despite an initial difference in mining speed between the two forks, an increase in ’s has been steadily narrowing Bitcoin’s supply lead. If Bitcoin continues to outpace Bitcoin , the two could halve at around the same time.

Incredibly fast BCH mining leaves Bitcoin in the dust

Ever since it forked back in 2017, Bitcoin Cash has been struggling with maintaining a ten-minute block generation time it inherited from Bitcoin. The goal of the fork as always been to maintain the same level of difficulty and speed as the original Bitcoin has, and BCH developers have implemented several different algorithms in order to achieve that.

At first, both Bitcoin and Bitcoin Cash used the Difficulty Adjustment Algorithm (DAA), adjusting the mining difficulty parameter every 2016 blocks. But, Bitcoin Cash started implementing another algorithm in addition to DAA in 2017. The Emergency Difficulty Adjustment (EDA) was designed to reduce the mining difficulty of Bitcoin Cash by 20 percent if less than 6 blocks in 12 hours are mined.

Introducing EDA, however, caused significant problems with Bitcoin Cash mining, which caused it to become hundreds of thousands of blocks ahead of Bitcoin. The difference in block numbers remained even after EDA was canceled and a change in DAA was implemented. The overall increase in block numbers, mining speed, and hashpower meant that Bitcoin Cash was scheduled to halve more than a month before Bitcoin.

Recent increase in Bitcoin hashpower means it could overtake Bitcoin Cash

Nic Carter, the co-founder of Coinmetrics.io and partner at Castle Island Ventures, recently pointed out these problems in a series of tweets on July 14. Carter said that Bitcoin mining has been lagging behind Bitcoin Cash, which was more than 123,000 coins ahead of Bitcoin in November 2017.

But, an increase in Bitcoin’s hashpower has managed to narrow down that difference to just over 73,000 coins this month. Carter pointed out that the difference in the number of coins in each network can also be expressed as “days ahead” in the issuance schedule. The difference between the halving of Bitcoin Cash and Bitcoin has been steadily decreasing since 2017, with Bitcoin Cash now being just 41 days ahead.

Carter said that if Bitcoin continues to narrow down its supply lead by 239 BTC per day, it will keep outpacing difficulty, both Bitcoin and Bitcoin Cash halvings could happen at the same time.

And while this could only happen if Bitcoin keeps seeing its hashrate grow at the same pace it did since 2017, even a minor decrease in BCH’s “days ahead” would show just how much the Bitcoin network has organically grown.

The post Growing hashpower means Bitcoin and Bitcoin Cash could halve at the same time appeared first on CryptoSlate.


Source: cryptoslate
Growing hashpower means Bitcoin and Bitcoin Cash could halve at the same time

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Bitcoin and Altcoins Trend Turns Bearish – Cryptonews

and Turns Bearish  CryptonewsThis past week, bitcoin and struggled to continue higher. /USD topped near the USD 13,000 resistance area and recently started a significant …
Source: worldnewsoffice
Bitcoin and Altcoins Trend Turns Bearish – Cryptonews

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Weekly chart of Bitcoin is dazed but John McAfee remains unfazed

The cryptocurrency tide changes very fast. At one moment, the would be projecting signs of a clear bullish run and the next moment, a shift in would take over. The virtual assets do not guarantee any consistent trading and most of the time, investors buy into the market due to “FOMO”. was […]
Source: bitcoinwarrior
Weekly chart of Bitcoin is dazed but John McAfee remains unfazed

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Bitcoin Dominance Taps 70% in Recovery Rally, Are Altcoins Dead?

has made a bit of a recovery today in the wake of comments by US Treasury Secretary Steve Mnuchin. The 8 percent pump has left in the digital dust again as share knocks on the door of 70 percent.

Bitcoin Briefly Back at $11,000

This time yesterday Bitcoin was trading very close to $10k after falling below it briefly on Sunday. The king of started to recover during US trading when it tapped $11,000 once again. There was no big dump from resistance and BTC has remained higher than Monday’s levels, trading at around $10,800 at the moment.

Long term trader ‘CryptoFibonacci’ has been eyeing the charts for possible areas of support and resistance and it is clear that just below $11k is one of them. The 50 day moving average is also key and this held during the big selloff over the past couple of days.

“The 38.2 Fib retrace, 10 and 20 ema’s are major resistance. So, it’s pretty simple to me. Get past this, or else.”

Zooming out still shows an ominous head and shoulders pattern which is traditionally a bearish reversal indicator. That said, over the past three months Bitcoin has defied most technical analysis and done its own thing.

BTC High Is The Norm

Today’s 8 percent pump has lifted market dominance to 69.75% according to Tradingview.com. This equals the high in early December 2017 as Bitcoin was winding up to its big run up to ATH. The previous high was back in July 2017 when market share tapped 77.5%, and before then BTC was the only cryptocurrency.

bitcoin

BTC dominance. Coinmarketcap

Trader and Analyst Luke Martin has pointed out that a high Bitcoin dominance is the norm for crypto markets. For most of its history Bitcoin has dominated over 90% of the market, only in March 2017 did this start to change with the rise of Ethereum and other altcoins.

“$BTC dominance less than 50-60% is rare when comparing to historical average ~ 80%. I expect alt windows to keep happening, but it’s important to note $BTC making up larger share of crypto market is the norm – not the outlier. Alts make a great trade when the macro trend is up.”

At the moment the altcoins are still on the floor, very few have made any effort at recovery from yesterday’s altcoin apocalypse. Total crypto market capitalization is $13 billion heavier today but that is nearly all Bitcoin’s doing.

Only Bitcoin’s two siblings, BCH and BSV are making any substantial moves today as the rival coins add around 10 percent each climbing to $310 and $130 respectively.

Image from Shutterstock

The post Bitcoin Dominance Taps 70% in Recovery Rally, Are Altcoins Dead? appeared first on NewsBTC.


Source: newsbtc
Bitcoin Dominance Taps 70% in Recovery Rally, Are Altcoins Dead?

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Bitcoin Price (BTC) Trading Near Inflection Point After Recent Recovery

  • started a decent upside correction after trading as low as $9,784 against the US Dollar.
  • The price traded above the $10,500 and $10,800 resistance levels to start the recent recovery.
  • Yesterday’s highlighted major bearish line was breached with resistance near $10,680 on the hourly of the /USD pair (data feed from Kraken).
  • The price is now facing a strong resistance near the $11,000 and $11,100 resistance levels.

Bitcoin price started a strong recovery above $10,500 against the US Dollar. However, BTC is still struggling to settle above $11,000 and it could resume its decline in the near term.

Bitcoin Price Analysis

Recently, we saw a significant decline in bitcoin price below the $11,000 support against the US Dollar. The BTC/USD pair also spiked below the $10,000 support and settled below the 100 hourly simple moving average. A new monthly low was formed near $9,784 and the price recently started an upside correction. There was a strong upward move above the $10,300 and $10,500 resistance levels.

Moreover, the price traded above the 23.6% Fib retracement level of the last key drop from the $11,923 high to $9,784 low. Additionally, yesterday’s highlighted major bearish trend line was breached with resistance near $10,680 on the hourly chart of the BTC/USD pair. The pair even spiked above the 50% Fib retracement level of the last key drop from the $11,923 high to $9,784 low.

However, the price struggled to hold gains above the $11,000 resistance level. It seems like the $11,100 level and the 100 hourly SMA acted as a hurdle. Besides, the 61.8% Fib retracement level of the last key drop from the $11,923 high to $9,784 low also prevented gains. At the moment, the price is correcting gains below the $10,900 level. It seems like there is a breakout pattern forming with resistance near $11,100 on the same chart.

If there is a successful close above the $11,100 resistance and the 100 hourly SMA, there could be a convincing upward move towards the $11,500 resistance. Conversely, if there is no close above $11,000 and $11,100, the price is likely to resume its slide in the near term.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is clearly facing a strong resistance near the $11,000 and $11,100 levels. As long as the price is below $11,100 and the 100 hourly SMA, the bears remain in control. Therefore, BTC is likely to resume its downward move.

Technical indicators:

Hourly MACD – The MACD is about to move back in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD settled above the 50 level, but it lacking momentum.

Major Support Levels – $10,500 followed by $10,000.

Major Resistance Levels – $11,000, $11,100 and $11,500.

The post Bitcoin Price (BTC) Trading Near Inflection Point After Recent Recovery appeared first on NewsBTC.


Source: newsbtc
Bitcoin Price (BTC) Trading Near Inflection Point After Recent Recovery

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Bitcoin Price On The Mend After 17% Weekend Correction

Bitcoin Price On The Mend After 17% Weekend Correction

This article was originally posted on The News – a trusted site covering numerous topics related to since 2012. After a 17% pullback […]
Source: cryptonewsmonitor
Bitcoin Price On The Mend After 17% Weekend Correction

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Bitcoin Price On The Mend After 17% Weekend Correction

bitcoin price picking up after drop

After a 17% pullback bulls appear to be fighting to retake $11000 but will they succeed?


Bitcoin Price In Bullish Uptrend

On Monday Bitcoin price reversed course and added 12.5% as an attempt to make up for the weekend’s steep 17% drop from $11,500. The sell-off appeared to be the result of exhausted buyers losing steam after the second rejection at $13,215 and many traders openly expressed concern than Bitcoin’s close was in peril could have accelerated selling.

From a short-term perspective, it appears that Bitcoin was in dire straits but a glance at the daily and weekly tells a slightly different story.  Scott Melker, a trader at Txwestcapital, tweeted a series of charts which according to him show Bitcoin resting comfortably in a bullish uptrend. In the tweet, Melker reminds traders that is still above $10000 and this is still three times above the February 2019 bottom. 

Considering that Bitcoin has been in a parabolic since April, a strong pullback was clearly on the cards and Melker says that observing BTC’s price action on a wider time frame should put traders at ease. 

Take the Bird’s Eye View Of The New “Bull

Crypto trader Hannes Gruschinski appears to concur with Melker and his recently posted Bitcoin price log chart shows what he describes as the “beginning of a new bull market.” Gruschinski claims that for the 3rd time in its trading history the 200 DMA is overtaking the 350 DMA which signals the start of a new long-term uptrend. 

bitcoin price bullish log chart

According to Gruschinski’s chart, Bitcoin could max out around $30,000 before sharply retracing in preparation for the halving in May 2020. While there were some who disagreed with the chart, Fundstrat lead analyst Thomas Lee commended Gruschinski for his accuracy and appeared to endorse the chart and its conclusion. 

After a nearly $1,000 bounce, Bitcoin currently trades at $10,800 after topping out at $11,032 on Coinbase. It’s likely that BTC will need to pull back to $10,500 – $10,600 over the next 12 hours before attempting to move higher. A move above $11,500 would confirm a double bottom reversal and likely see bulls attempt to re-enter the $12,000 to $12,500 range. 

Do you think the Bitcoin price will reach $20,000 before the end of 2019? Share your thoughts in the comments below! 


Images via Shutterstock, Tradingview, Twitter: @scottmelker, @fundstrat

The post Bitcoin Price On The Mend After 17% Weekend Correction appeared first on Bitcoinist.com.


Source: bitcoinist
Bitcoin Price On The Mend After 17% Weekend Correction

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Crypto Market And Bitcoin Facing Many Hurdles: BCH, BNB, EOS, TRX Analysis

  • The total cap recovered after it dived towards the $250.0B support area.
  • also corrected higher above the $10,500 and $10,800 resistance levels.
  • EOS price is currently consolidating above the $4.100 support area.
  • Binance Coin (BNB) settled below the $30.00 level and it is currently trading near $28.00.
  • BCH price is up more than 10% and it broke the $280 and $300 resistance levels.
  • Tron (TRX) price is slowly recovering and it recently broke the $0.0250 resistance area.

Bitcoin and the crypto market cap started a decent upside correction, but facing many hurdles. Ethereum (ETH), binance coin (BNB), BCH, ripple, tron (TRX), litecoin and EOS could resume their decline.

Bitcoin Price Analysis

After a significant decline, BCH price found support near the $260 level against the US Dollar. The BCH/USD pair started a decent upward move and broke the $275 and $280 resistance levels. The price is up more than 10% and it recently broke the $300 resistance level.

The next resistance on the upside is near the $320 level. If the price fails to continue higher, it could decline once again towards the $280 support level in the near term.

Binance Coin (BNB), EOS, Tron (TRX) Price Analysis

EOS price spiked towards the $4.000 support area during the recent slide. Recently, the price started an upside correction and moved above $4.100. The price is currently consolidating near $4.200, with a strong resistance near the $4.400 and $4.450 levels. On the downside, the $4.100 and $4.000 levels are important supports for the current wave.

Tron price declined heavily and even broke the $0.0240 support area. TRX price tested the $0.0230 level and it recently corrected higher. The price is now trading above the $0.0250 level, but it might struggle to move above the $0.0265 and $0.0272 resistance levels in the near term.

Binance coin (BNB) settled below the key $30.00 support area. BNB price is now consolidating near the $28.00 level and it could struggle to climb above the $28.50 and $29.20 resistance levels. The main resistances are near the $30.00 and $30.20 levels.

Bitcoin Crypto Market Cap Altcoins ETH, XRP, BCH, LTC, EOS, TRX, ADA, BNB

Looking at the total cryptocurrency market cap 4-hours chart, there was a sharp decline below the $300.0B support area. The market cap even broke the $280.0B support and moved close to the $250.0B support area. A swing low was formed near $254.0B and the market cap recently recovered higher. It broke the $260.0B and $270.0B levels, but the previous support near the $280.0B and $285.0B levels acted as a strong hurdle. The current technical structure suggests that there could be more declines in the market cap. Therefore, bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX are likely to struggle to continue higher.

Crypto Market And Bitcoin Facing Many Hurdles: BCH, BNB, EOS, TRX Analysis


Source: cryptoassethome
Crypto Market And Bitcoin Facing Many Hurdles: BCH, BNB, EOS, TRX Analysis

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