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Bitcoin Holds Just Over $4,000 as Top Cryptos See Slight Losses

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Acochain.com — most of the top 20 cryptocurrencies are reporting slight losses on the day by press time, according to data from CoinMarketCap.

Bitcoin (BTC) is down just over a tenth of a percent on the day, trading at around $4,021, according to CoinMarketCap. Looking at its weekly chart, the current price is just over a quarter of a percent lower than $4,036, the price at which Bitcoin started the week.

Bitcoin 7-day price chart. Source: CoinMarketCap

Bitcoin 7-day price chart. Source: CoinMarketCap

On March 18, the option to donate Bitcoin, along with eight other cryptos, appeared on the website of Tor digital privacy software.

Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $14.4 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $12.9 billion by press time.

ETH is down by a slight half a percent over the last 24 hours. At press time, ETH is trading around $137, after having started the day at roughly the same price. On its weekly chart, Ethereum has seen its value decrease by nearly three percent.

Ethereum 7-day price chart. Source: CoinMarketCap

Ethereum 7-day price chart. Source: CoinMarketCap

Recently news broke that leading Ethereum browser extension Metamask reportedly broadcasts ETH addresses to all websites a user visits in its default settings.

Second-largest altcoin Ripple has is also down about half a percent in the 24 hours to press time, and is currently trading at around $0.309. Looking at the coin’s weekly chart, its current price is also nearly three percent lower than $0.318, the price at which it started the week.

Ripple 7-day price chart. Source: CoinMarketCap

Ripple 7-day price chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies, the one reporting the most notable price action — and one of the few coins in the green over the last 24 hours — is Binance Coin (BNB), which is up by over 11 percent.

As Cointelegraph reported earlier today, Binance Coin is employed by the new format of Binance’s token launch service, Launchpad, for acquiring tickets to access a lottery to acquire new altcoins.

Meanwhile, the total market cap of all cryptocurrencies is currently equivalent to $140 billion, which is nearly identical to its value one week ago, up slightly from $139.7 billion

In recent news, the general manager at the Bank for International Settlements, Agustin Carstens, advised against the issuance of central bank digital currencies (CBDCs) in a speech in Dublin. Carstens explained that a CBDC could facilitate a bank run, enabling people to move their funds from commercial banks to central bank accounts faster, thus destabilizing the system.

At the end of last week, an analysis from cryptocurrency index fund provider Bitwise Asset Management to the United States Securities and Exchange Commission was published, claiming that 95 percent of volume on unregulated exchanges appears to be fake or non-economic in nature. (cointelegraph)

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Bitcoin Rallies $2K in 24 Hours But Price Hurdles Remain Intact

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Acochain.com – Bitcoin (BTC) has risen sharply in the last 24 hours, but a key price hurdle must still be passed to confirm a bull revival.

The premier cryptocurrency by market value was on the defensive in the early European trading hours on Tuesday, having breached support at $10,300 on the back of high volumes.

The ensuing sell-off, however, was cut short near $9,614 and prices rose back above $10,300 in the U.S. session, confirming a bullish double-bottom breakout. The price jumped to $10,700 following the breakout, as expected, and extended gains further to hit a high of $11,575 on Bitstamp earlier today.

With the $2,000 rally, bitcoin has established a base or technical support around $9,600. The quick recovery could also be considered a sign of strong demand below the psychological level of $10,000.

However, it is still too early to call a retest of the recent high of $13,880, as the cryptocurrency is yet to invalidate the most basic of all bearish patterns – a lower high. For that, the price needs to rise above the June 28 high of $12,448.

As of writing, BTC is changing hands at $11,350 on Bitstamp, representing 11 percent gains on a 24-hour basis.

Hourly and weekly charts

A high-volume break above the bearish lower high of $13,880 (above left) would confirm an end of the price pullback and open the doors to a retest of, and possibly a break above, the recent high of $13,880.

Traders may argue that the cryptocurrency has already breached the falling channel – a sign of bullish reversal.

While that’s true, the breakout wasn’t backed by a surge in buy volume (green bars). Further, sell volumes have been higher than buy volumes post-breakout – a trend that has been in place ever since bitcoin topped out at $13,800. That puts a question mark on the sustainability of gains above $11,000.

And widely followed long-term technical indicators like the 14-week relative strength index (RSI) continue to report overbought conditions with an above-70 reading. In such situations, price breakouts on the hourly and other shorter-duration charts often end up trapping the bulls on the wrong side of the market.

Hence, it’s likely safer to wait for stronger confirmation of a bull revival in the form of a break above $12,448.

Daily chart

BTC created a bullish hammer candle on Tuesday, comprising of a long lower wick – a sign of dip demand or rejection of lower prices – and a small body (the gap between open and close).

The hammer pattern is widely considered a sign of bullish reversal. The candle’s success rate, however, is higher when it appears after a prolonged downtrend, which isn’t the case here. Nevertheless, the candle does indicate that $9,614 is now the level to beat for bears.

That level could come into play if prices drop below $10,830 (today’s low), reinforcing the bearish view put forward by the cross of the 5-day moving average below the 10-day average. (coindesk)

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Brazilian Bank Plans to Use Tezos Blockchain for STOs Worth $1 Billion

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Acochain.com – BTG Pactual, Brazil’s fifth largest bank, plans to utilize the Tezos blockchain for security token offerings potentially worth $1 billion.

For the effort, BTG – also Brazil’s largest standalone investment bank – will team with Dubai-based asset manager Dalma Capital.

In a press release published Wednesday, the two firms said they would use the Tezos network for the sale of digital securities to “address a deal pipeline in excess of $1bn for existing and prospective token issuances.”

The deals include the ReitBZ tokenized property offering announced in February, and would further cover a variety of traditional and alternative investments, they noted.

The companies said:

“Utilizing Tezos, a self-amending blockchain and smart contracts platform will encourage BTG Pactual and Dalma Capital to enhance their digitization efforts, by transacting in digital assets.”

Since the announcement earlier this year, the ReitBZ STO, which uses an ethereum-based token, has launched and passed its soft cap, according to the release.

“While the bank remains protocol and technology agnostic, and will continue to utilize the Ethereum protocol, we see Tezos as a global player with a robust blockchain for asset tokenization” said Andre Portilho, a BTG partner who heads the STO initiative.

Dalma Capital has joined the effort as joint bookrunner (or underwriter) for ReitBZ, and further expects to use Tezos for a number of other asset tokenization projects, from real estate to sports clubs.

“We see Tezos as one of the critical protocols for the burgeoning STO market, and look forward to securing future deal flow on the Tezos blockchain,” said Zachary Cefaratti, Dalma Capital CEO.

Tim Draper, CEO and founder of Draper Associates, which holds a stake in Tezos, said “We are excited to see BTG Pactual and Dalma Capital making use of the Tezos blockchain – we are believers in the Tezos project and see a strong use case for security tokens.” (coindesk)

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Bitcoin Eyes Independence Day Price Gains for Fifth Year Running

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Acochain.com – Bitcoin (BTC) looks set to close in the green on U.S. Independence Day for the fifth consecutive year, having recovered nearly 25 percent from recent lows.

The top cryptocurrency by market capitalization rose 1.17, 1.79, 3.35 and 1.67 percent on July 4 in 2018, 2017, 2016 and 2015, respectively, according to Bitstamp data.

BTC’s Independence Day performance in the years prior to 2015 is mixed. Prices saw little change in 2012, rose 3.16 percent in 2013 and suffered a 2.63 percent loss in 2014.

All-in-all, bitcoin, considered by some observers as an anti-establishment asset, has put on a good show on the U.S. Independence Day in five out of the last seven years.

The cryptocurrency now appears poised to extend the four-year winning trend, as the recovery from recent lows seems to be gathering traction and the short duration charts are now flashing bullish signals.

As of writing, BTC is changing hands at $11,600, representing 4 percent gains on a 24-hour basis, having hit a high of $12,061 earlier today. At that price, the cryptocurrency was up more than $2,400, or 25 percent, from the July 21 low of $9,614.

Hourly chart

BTC jumped 4 percent in 60 minutes late on Wednesday, confirming an upside break of the symmetrical triangle – a bullish continuation pattern – on the hourly chart.

Notably, the breakout was backed by a sharp rise in buy volumes (green bars). In fact, buy volume climbed to its highest since July 1, invalidating the bearish volume divergence represented by the falling trendline.

Therefore, the path of least resistance is on the higher side and prices could rise toward the bearish lower high of $12,448 created on June 26.

While the momentum has cooled somewhat in the last 10 hours, the minor price pullback seems to have taken the shape of a bull flag – a pause that often restarts with upwards momentum.

The probability of BTC posting daily gains with a UTC close above today’s opening price of $12,061 would drop if the price finds acceptance below $11,385 – the low of yesterday’s high-volume bullish candle (horizontal line).

That, however, looks unlikely, as the daily chart is reporting a bullish candlestick pattern.

Daily chart

BTC rose 10.5 percent on Wednesday, marking a strong follow-through to the dip demand highlighted by the preceding day’s bullish hammer candle.

The candlestick pattern indicates the pullback likely ended at $9,614 and thus prices could continue to rise toward the recent high of $13,880. (coindesk)

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Litecoin在八月份奖励减半之前表现优于前10名Cryptos

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Acochain.com – 随着新硬币的供应量在不到五周的时间内减少一半,莱特币的价格已超过同行。

据数据来源CoinMarketCap称,按市值计算,第四大加密货币目前的交易价格为123美元,7天涨幅为5%。

与此同时,按市值计算的最高加密货币比特币目前每周报告微升1%。 如下表所示,其他前十大加密货币交易涨跌互现。

  • 卡尔达诺下降了10%,是过去七天中表现最差的十大加密货币。
  • ETH,XRP,BCH和EOS闪烁红色。
  • Binance硬币年初至今上涨了惊人的481%,其次是莱特币,上涨了305%。

Litecoin最近相对辉煌的表现可能与今年8月6日到期的矿业奖励减半有关。

这个过程旨在通过减少为莱特币区块链开采的硬币减少一半来抑制通货膨胀。因此,在8月6日之后,每个矿区开采的矿工将获得12.5个硬币 – 比目前25个硬币的奖励减少50%。

从本质上讲,矿工将增加更少的硬币到生态系统,可能导致流通量减少。即将到来的供应减少可能有助于LTC在过去七天内表现优于同行。

虽然期望加密货币在事件发生前进一步上升是合乎逻辑的,但上涨看起来有限。毕竟,今年到目前为止,LTC已经见证了价格和非价格指标的显着增长,并且目前在年初至今已超过300%。

与此同时,Litecoin的哈希率或专用于采矿的计算能力本周上升至创纪录的468.1019 TH / s。值得注意的是,该指标目前比去年12月的146.2118 TH / s的低点上涨了220%。

总而言之,市场可能在很大程度上已经将奖励减半。事实上,如果历史是一个指南,那么LTC在8月6日事件发生前会出现急剧回落的可能性很高。

值得注意的是,LTC在6.5周内从8.72美元急剧下跌至2.55美元,这是在2015年8月25日发生的上一次奖励减半之前。

技术图表也标志着近期价格下跌的范围。

3天图表

看涨的较高低点,较高的高点格局完好无损,相对强弱指数(RSI)报告看跌背离,5和10烛光移动平均线产生看跌交叉。

因此,价格风险降至200蜡烛,目前为221美元。 违规行为将暴露50蜡烛MA,目前为83.00美元。

从更高的方面来看,需要突破140美元(2018年5月高点)的下一个主要阻力位突破140美元以上。(coindesk)

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