- The total crypto market cap tested the key support area near $245.0B and bounced back.
- Bitcoin price jumped sharply after testing the main $8,000 support area.
- EOS price is up more than 10% and i...
- The total crypto market cap tested the key support area near $245.0B and bounced back.
- Bitcoin price jumped sharply after testing the main $8,000 support area.
- EOS price is up more than 10% and it broke the $8.00 and $8.20 resistance levels.
- Bitcoin cash price tested the $420 support level and bounced back above $440.
- Tron (TRX) price is up more than 12% and it recently broke the $0.0350 resistance.
- Cardano (ADA) price is currently trading near the $0.0900 and $0.0905 resistance levels.
The crypto market cap, bitcoin (BTC), Ethereum (ETH), EOS, and Tron (TRX) recovered significantly. BCH, ripple, ADA, BNB, and other altcoins are also gaining traction.
Bitcoin Cash Price Analysis
Recently, we saw a sharp downside correction in bitcoin cash price from well above $475 against the US Dollar. The BCH/USD pair traded below the $450 support level. The pair tested the $420 support area, which acted as a strong support.
The pair bounced back and moved above the $430 and $440 levels. The next key resistance is near the $450 level, above which the price could trade above the $465 level.
EOS, Tron (TRX) and ADA Price Analysis
EOS price performed really after it tested the key $7.000 support area. The price recovered significantly and traded above the $7.800 and $8.000 levels. The price is up more than 13% today and it is currently trading above the $8.200 level. The next important resistance for the bulls is near the $8.450 and $8.500 levels.
Tron price also recovered sharply and climbed back above the $0.0340 and $0.0350 resistance levels. TRX price is currently trading with a positive tone above the $0.0350 level and it might continue to rise above the $0.0365 levels. On the downside, the main supports are near the $0.0342 and $0.0340 levels.
Cardano price recovered after testing the $0.0800 support level. ADA price broke the $0.0860 and $0.0880 resistance levels and it is currently trading near the $0.0900 level. The next key resistance is near the $0.0920 level, above which the price could trade towards the $0.0950 level.
Looking at the total cryptocurrency market cap hourly chart, there was a solid downside correction from the $277.4B swing high. The market cap declined more than $30.0B. It even broke the key $255.0B support area and tested the next support at $240.0B level and the 100 SMA. The market remained well bid near the $240.0B level and bounced back sharply above $255.0B. It is currently above $260.0B and facing a couple of important resistances near the $265.0B and $270.0B levels. Overall, there could be more gains in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the near term.
The post Crypto Market Primed For Gains: Bitcoin Cash, EOS, TRX, ADA Analysis appeared first on NewsBTC.
source https://www.tokentalk.co/NewsBTC/crypto-market-primed-for-gains-bitcoin-cash-eos-trx-ada-analysis-5cf26f5125e47a2259b27780
Saturday, 1 June 2019
Crypto Market Primed For Gains: Bitcoin Cash, EOS, TRX, ADA Analysis @newsbtc #Analysis #Technical #BCH #Binance Coin #Bitcoin Cash #btc #Cardano #eos #Litecoin #ltc #TRON
Bitcoin Price At ‘Major Inflection Point’ As Traders Eye Gains Above $9k @bitcoinist #Bitcoin #Bitcoin Price #Markets and Prices #News #News teaser #bitcoin #bitcoin price #John Bollinger #Peter Brandt
Bitcoin price b...
Bitcoin price bounced back to hold above $8500 June 1, calming market fears that a pullback earlier this week would trigger a more serious reversal.
BTC Daily Closes Above Expectations
Data from cryptocurrency exchange Bitstamp, which tracks a more conservative BTC price than most tickers, placed BTC/USD at $8540 as of press time Saturday.
Bitcoin had dipped as low as $8076 on May 30 after a sudden surge took markets above $9000 to hit their highest in over a year.
A correction soon began, taking the pair back above $8500 Friday, a position it has since held.
Prior to that, analysts had sounded the alarm over potential losses, with veteran trader Peter Brandt, as well as others, eyeing support levels closer to $8000 for confirmation of a new downtrend.
At $8440, Brandt said he felt more comfortable with Bitcoin and was prepared to take positions once again as further downside appeared less likely.
“(Bitcoin) appears to be stabilizing after the 12% break on Thursday. I am willing to dip (my) toes back in the water,” he wrote on Twitter.
$BTC appears to be stabilizing after the 12% break on Thursday. I am willing to dip by toes back in the water. pic.twitter.com/wjoPKfY34c
— Peter Brandt (@PeterLBrandt) May 31, 2019
Trader and investor Josh Rager meanwhile had said BTC/USD needed to close above $8200 to avoid trouble, something which it subsequently achieved. For him, a close above $8330 would be decisively bullish, opening the door to retests of previous support.
Brandt: Traders Must ‘Pay Attention’
As Bitcoinist reported, the end of May appeared to produce confirmation that Bitcoin’s overall strength was sufficient to assuage fears over price volatility.
Metrics including network hash rate, transaction volume, and block size have all convened to buoy investor confidence, with all three seeing new all-time highs or near all-time highs over the past fortnight.
By comparison, Bitcoin price is comparatively low for such strength, leading to conclusions that a possible future bull run would have the support of a considerably more mature network behind it compared to late 2017.
Nevertheless, a return to the bearish price behavior in place until April is not impossible. John Bollinger, the inventor of Bollinger Bands and a regular Bitcoin commentator, warned investors should not divert their attention simply because of recent market strength.
“This is a major inflection point for the crypto currens (sic). Clearly defined top formations are in place nearly across the board,” he tweeted Friday.
If we can overcome this and break higher I see another important leg up, if we break down a 50% retracement is 1st logical target. Time to pay attention!
What do you think about Bitcoin price activity? Let us know in the comments below!
Images via Shutterstock, Tradingview.com
The post Bitcoin Price At ‘Major Inflection Point’ As Traders Eye Gains Above $9k appeared first on Bitcoinist.com.
source https://www.tokentalk.co/Bitcoinist/bitcoin-price-at-major-inflection-point-as-traders-eye-gains-above-9k-5cf23e9125e47a2259b2777b
Chainlink announces the launch of its mainnet on Ethereum @cryptoslate #Altcoins #Price Watch #Technology
Chainlink, a decentralized oracle service, announced the launch of its mainnet on the Ethereum network. The company is working towards achieving real-time information validation in smart contrac...
Chainlink, a decentralized oracle service, announced the launch of its mainnet on the Ethereum network. The company is working towards achieving real-time information validation in smart contracts, saying it will have “immense” potential for adoption in various industries.
Chainlink goes live on Ethereum
Chainlink, an interoperability-focused company that aims to solve the connectivity problem in smart contracts, has quietly been developing its latest project. According to the company’s official blog post, the Chainlink network is now live on Ethereum.
The move will enable the creation of a decentralized oracle network run by multiple independent node operators—something the company has been working on for more than a year. Chainlink said that the mainnet launch followed the successful completion of three independent security audits, as well as the completion of various internal scalability and stress tests.
While the launch was hinted at earlier this year, a clear increase in demand for reliable decentralized oracle mechanisms was what led to the Ethereum mainnet launch.
Chainlink’s oracle solves the problem of trusted third parties
Put simply, oracles are the connection between blockchains and the real world and are used to feed real-world and real-time data into smart contracts. The concept itself is nothing new, but Chainlink’s implementation is—the company’s mechanism supports Ethereum, Bitcoin, Hyperledger, and every other major blockchain.
Sergey Nazarov, the ChainLink community leader and SmartContract.com chief executive officer, explained Chainlink’s approach to solving the problem of a “single trusted third party” in blockchains. He said that the company used decentralized computation to secure smart contracts. He explained:
“The Chainlink network allows multiple independent nodes to perform decentralized computations about the accuracy of an external input before it is written into a smart contract.”
According to the company’s announcement, some of the first oracle networks on Ethereum will be focused on retrieving market prices and feeding them into smart contracts, e.g. the ETH-USD conversion rate.
The company also noted that they will have an onboarding process to list endorsed Chainlink nodes in the official documentation of the project. Other third parties will also be able to run Chainlink nodes themselves, as the project’s code is open source.
The post Chainlink announces the launch of its mainnet on Ethereum appeared first on CryptoSlate.
source https://www.tokentalk.co/Cryptoslate/chainlink-announces-the-launch-of-its-mainnet-on-ethereum-5cf2263225e47a2259b27775
Friday, 31 May 2019
Why All Bitcoin and Crypto Investors Should Consider U2F Security Keys @newsbtc #Bitcoin #Crypto #bitcoin #bitgo #coinbase #crypto #u2f
The Chief Information Security Officer at Coinbase, Philip Martin, has revealed that the firm has enabled its Coinbase and Coinbase Pro a...
The Chief Information Security Officer at Coinbase, Philip Martin, has revealed that the firm has enabled its Coinbase and Coinbase Pro accounts to support securing Bitcoin and other crypto assets using U2F Security Keys – a safer, and somewhat ironclad alternative to SMS-based two-factor protection of accounts.
With SIM-based hacks picking up in pace and severity, and with crypto being so attractive to cyber criminals due to the pseudo-anonymity and general unfamiliarity associated with it, U2F protection via Security Keys are likely to become a necessary investment for any and all crypto investors who care about the safety of their assets.
Coinbase: Secure Your Bitcoin With U2F Security Keys
This week, San Francisco-based crypto giant Coinbase revealed that its customers can now secure their crypto assets and Bitcoin using Security Keys and WebAuthN.
Coinbase now supports security keys! Really excited to get this out the door and in the hands of our customers. https://t.co/4fpEb0z3WW
— Philip Martin (@SecurityGuyPhil) May 30, 2019
In a blog post shared by Chief Information Security Officer Philip Martin, the firm revealed that support for U2F (Universal 2nd Factor) has now been enabled. The completely optional feature arms crypto investors with the highest level of personal asset security – far safer and secure than traditional SMS-based two-factor authentication, and even safer than authenticator apps like Google Authenticator or Authy.
Related Reading | Google U2F Security Expert: Crypto is Like Catnip for Cyber Criminals
Coinbase calls Security Keys the “gold standard of modern account security,” and recommends users secure additional accounts using Security Keys, such as Twitter, Dropbox, Youtube, Instagram or Gmail – which oftentimes is tied to the login of crypto exchange accounts and acts as another backdoor for cyber criminals to access.
Why Crypto Investors Need To Consider U2F Security Keys
The emergence of Bitcoin ten years ago brought with it the creation of an entire new asset class in crypto. The young, budding financial technology has the potential to completely transform money as we know it. Bitcoin and most cryptocurrencies that came after it were designed to be decentralized, and borderless, with no controlling party that can intervene in transactions, freeze assets, and more the same way governments can govern the fiat currencies held by its citizens. But putting complete control, ownership, and therefore responsibility over significant wealth in the hands of the average person, is a recipe for disaster.
Even Coinbase concludes the”vast majority of theft is due to human error.”
In a recent Medium post entitled The Most Expensive Lesson Of My Life: Details of SIM Port Hack, the author, Sean Coonce, Engineering Leadership at BitGo – the self-proclaimed “leader in the storage of digital assets” – details an account where the developer had his entire crypto accounts drained in a SIM port hack.
Related Reading | Pro League of Legends Gamer Robbed of $200K in Crypto in Sim-Hack
SIM port hacks are an emerging trend where cyber criminals gain unauthorized access to a user’s phone number, which is then used to receive SMS-based two-factor codes allowing the hackers to access sensitive financial accounts and steal all of the crypto assets held there.
In this example, even a crypto industry developer working for the “leader” in the storage of crypto had his assets stolen right out from under his nose while he slept – it’s foolish to think it couldn’t happen to you.
By investing in a U2F Security Key, cyber criminals would need access to the physical Security Key to be able to access accounts secured using this method, bringing the highest level of protection possible. The downside is that the user will experience a minor inconvenience each time they need to log into an account, or may be locked out themselves if they don’t have immediate physical access to the Security Key. But it’s an inconvenience worth experiencing for the added safety and security.
Pro tip: The Ledger Nano S doubles as a security key, and can be used to secure even Gmail accounts.
The post Why All Bitcoin and Crypto Investors Should Consider U2F Security Keys appeared first on NewsBTC.
source https://www.tokentalk.co/NewsBTC/why-all-bitcoin-and-crypto-investors-should-consider-u2f-security-keys-5cf1ce1125e47a2259b2776f
This analyst says there’s a “high chance” Bitcoin may never fall under $5k again @cryptoslate #Analysis #Price Watch
Once Bitcoin (BTC) started to incur strong losses in the second half of 2019, analysts were once again making extremely low price prediction...
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The Indian Ministry of Commerce and Industry announced yesterday that the Coffee Board in the country is integrating blockchain into the cof...
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App-enabled cryptocurrency exchange and wallet provider, Zebpay, has announced that it is enabling Lightning Network payments for all its ...
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Disclaimer: These summaries are provided for educational purposes only by Nelson Rosario and Stephen Palley... Disclaimer: These summaries...
