Bitcoin breaks a MAJOR technical level

Bitcoin (BTC) could post new 2018 lows over the weekend, having found acceptance below key price support.

Despite signs of a possible corrective rally seen earlier yesterday, the leading cryptocurrency closed below $6,000 for the first time since November 12, signaling a downside break of a major support (February low).

While the bears had briefly pushed prices down to $5,755 (2018 low) last Sunday, a close below $6,000 had remained elusive. Now that prices sit below $6,000, the focus is back on the long-run bearish technical charts, which continue to call a move lower to $5,000.

At press time, BTC is changing hands at $5,904 on Bitfinex – down 3.4 percent on a 24-hour basis.

Meanwhile, other cryptocurrencies are also flashing red this morning. Names like EOS, litecoin (LTC), cardano (ADA) are reporting 6 percent drops on a 24-hour basis. Ethereum (ETH) and XRP are down 4 percent each, according to CoinMarketCap.

Despite the drop below support, bitcoin is still outperforming most other cryptocurrencies and is now at…

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Why did Facebook just REVERSE their ban on cryptocurrency ads

Facebook has reversed its controversial ban on cryptocurrency adverts, prompting further speculation that the tech giant may be planning something major in the space.

The lifting of the ban – put in place in January amid fears that ads were used for fraud – was welcomed by industry figures, with some saying that it indicated the firm’s recognition of the potential of bitcoin and other cryptocurrencies.

“Customer safety and education about the market should remain a priority, but a blanket ban is a poor approach to new ideas,” Iqbal Gandham, the UK managing director of the eToro investment platform told The Independent. “Technology giants like Facebook are aware of the potential of blockchain technology to fundamentally change the financial system.”

But perhaps more significant than the immediate implications for cryptocurrency firms is what the move signals about Facebook’s own ambitions…

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You Need to Hear Apple’s Co-Founder Steve Wozniak’s just said about Bitcoin

Apple co-founder Steve Wozniak believes that blockchain is a bubble similar to that of the dotcom era, but that it could have potential in the future, CNBC reported yesterday, June 26.

During the NEX technology conference in New York, Wozniak said that the dotcom era created a similar kind of hype around companies that did not end up delivering on their promises:

“It was a bubble, and I feel that way about blockchain.”

However, Wozniak did add that blockchain is “decentralized and totally trustworthy,” noting that it just may “take a while” for its potential to fully come to fruition:

“It doesn’t change in a day, a lot of the blockchain ideas that are really good by coming out early they can burn themselves out by not being prepared to be stable in the long run.”

Wozniak had expressed similar sentiments about the future potential for both blockchain and cryptocurrencies last month.

CNBC notes that Wozniak singled out Ethereum (ETH) as one cryptocurrency that could…

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A Long Awaited Bitcoin Secret Is About to Be Revealed

A long-held bitcoin secret is about to be revealed.

No, it’s not the identity of Satoshi Nakamoto, it’s a private key the cryptocurrency’s creator entrusted to several bitcoin developers that activates the protocol’s so-called “alert system,” once used to flash a text warning to those running the software in case something happened that could impact the security of their funds.

If you didn’t know bitcoin had a warning system like this, that’s because it was retired in 2016 due to security concerns and frequent confusion about its use.

“The alert system was a frequent source of misunderstanding about the security model and ‘effective governance,'” well-known Bitcoin Core contributor Greg Maxwell wrote in a public email from September 2016.

In short, some in the bitcoin community thought it could be used to change that network rules that unite users, which isn’t really the case. For example, a BitcoinJ developer once wanted to use the key to control fees, while a Bloq staffer pressed for Bitcoin Core developers to use the key to change the network’s mining difficulty.

Plus, developers were worried that if the wrong person got ahold of the key, they could broadcast false messages or potentially cause panic.

As such, to some, the reveal – being undertaken by Bitcoin Core contributor Bryan Bishop – is a long time coming.

“Folks, it’s going to be an interesting show,” Bishop tweeted, followed by a string of tweets cryptographically proving he’s in possession of the secret key, without fully revealing it quite yet.

The reveal is the final step to destroying the system. After Bitcoin Core developers released new code in 2016 without the alert system, in January 2017, a “final alert message” was broadcast, which – by law of the code – made that message unable to be overridden by any other messages in the future.

Still, the private key needs to be displayed publicly so there’s no possibility of reputation attacks against those developers that hold it.

Bishop told CoinDesk he plans to release it soon, though he’s not sure about the exact date, adding:

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Find out what Alibaba’s Jack Ma thinks about bitcoin

  • Alibaba Chairman Jack Ma is bullish on blockchain but reportedly says he would stay away from bitcoin because it could be a bubble.
  • Ant Financial, the financial-technology affiliate of Alibaba, launched a joint venture in Hong Kong Monday that uses blockchain for a cross-border remittance service.
  • “Technology itself isn’t the bubble, but bitcoin likely is,” Ma said, according to the Wall Street Journal.

Jack Ma’s Ant Financial is betting on blockchain but the Chinese billionaire warned against the technology’s first and most popular use case: Bitcoin.

The financial-technology affiliate of e-commerce giant Alibaba launched a joint venture in Hong Kong Monday that uses blockchain for a cross-border remittance service. At the launch event hosted by Ant Financial, Ma advocated for blockchain but said the firm does not own bitcoin, and would stay away from the asset class, the Wall Street Journal reported.

“It is…not right to become rich overnight by betting on blockchain,” Ma told reporters at the event, according to the Journal. “Technology itself isn’t the bubble, but bitcoin likely is.”

Bitcoin rose more than 1,300 percent last year to a high near $20,000. This year, the digital currency has fallen 50 percent to around $6,280, according to CoinDesk.

Ma, who is also Ant’s controlling shareholder, said blockchain…

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Bitcoin price CRASH: Bitcoin falls 9% to LOWEST LEVEL in months

  • The digital currency hit a four-month low of $6,092.38 and broke below $6,400 for the first time in about a week.
  • The order led bitFlyer — the largest crypto exchange in Japan — to suspend the creation of new accounts while it makes changes.
  • The agency gave the same order to five other exchanges after finding weaknesses in their controls against money laundering.

Bitcoin prices fell roughly 9 percent Friday after Japan’s financial regulator ordered several cryptocurrency exchanges to improve their practices against money laundering.

The digital currency fell to $6,081, breaking below $6,400 for the first time in about a week and reaching its lowest level since February 6, according to CoinDesk.

The order from Japan’s Financial Services Agency led bitFlyer — the country’s largest crypto exchange — to suspend the creation of new accounts while it makes improvements, especially in its measures to stop money laundering and terrorist…

Continue reading at CNBC.com

THIS CRYPTO might be better than Ripple (XRP)

Investing in digital coins can turn out tricky and a simple background check can save you a lot. Picking the best coin when you are presented with two options can be mind wrecking.   Stellar (XLM) and Ripple (XRP) are good projects and each has its own diehard fans and convincing them that one is better than the other is a hard nut to crack.

However, it can be helpful for those willing to invest on any digital coin to know what they are up against before they stake their hard earned cash. With allot of challenges in the market from the crypto-crash in January to-date, it is easy to look at XLM and XRP value indicators and how they have been able to wither the storm.

Addressing the Consumer Needs

With a competitive market and a new technology that people are just getting a grasp of, it is always discerning to get a product that you are comfortable with. A system that transforms your life and has real world use cases is ideal. However, the consumer demands are different and that is the point of…

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FIND OUT what the CEO of Goldman Sachs just said about Bitcoin

For Lloyd Blankfein, bitcoin just isn’t his thing.

The Goldman Sachs chairman and CEO said in an interview on Tuesday that “it’s not for me” when asked about the world’s largest cryptocurrency by market capitalization. Appearing at the Economic Club of New York, he remarked:

“I don’t do it. I don’t own bitcoin.”

Blankfein has struck a kind of middle-of-the-road tone on cryptocurrencies in the past, which is notable considering that his firm is reportedly toeing the waters of services built around the tech.

The investment banking giant is said to have developed plans for a bitcoin futures trading operation, according to New York Times, with an eye on growing that capacity depending on the results and approval from regulators.

In a previous interview with Bloomberg in November, Blankfein said…

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Can Ripple Reach $1,000? Here’s What an Expert Thinks

Trying to predict the future of Ripple

The cryptocurrency space has been very bearish for many of the cryptocurrencies apart from a handful of them in the year 2017. Also, the first quarter of 2018 didn’t prove to be bullish for the Bitcoin as well as other Altcoins. The cryptocurrency is ranked at the 3rd position according to coinmarketcap. It is the most widely adopted cryptocurrency by most of the banks and other financial agencies because of it’s Real Time Gross Settlement System and they consider it to act as a cost-cutting tool to their complex procedures.

It is among the cryptocurrencies which are said to give a tough competition to Bitcoin. Anyhow it can come nowhere near to Bitcoin in terms of its popularity and usage amongst the crypto community. Also until the cryptocurrency is not completely adopted by all the banks the price will keep fluctuating. Adding on to that is the fact that the cryptocurrency market itself is very volatile due to its low market capitalization, therefore, making Ripple difficult to reach new heights. The cryptocurrency market is dependent on the news and FUDs that any particular cryptocurrency can gain and a lot of value within a span of few hours or might even completely disappear from the list itself.

Can Ripple reach $1000?

Currently, the price is around $0.5 USD. For any particular cryptocurrency coin, the predictions can’t be made. The…

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BREAKING: Bitcoin Prices Just SURGED – Find Out Why

  • Bitcoin spiked suddenly in Monday afternoon trading to its highest since Tuesday.
  • New York’s Department of Financial Services granted Square a virtual currency license, allowing users of the Cash app in the state to trade bitcoin.
  • Cash has 7 million monthly active users, the company said in its first quarter earnings call.

Bitcoin spiked suddenly Monday afternoon following news users of the “Cash” mobile payments app could trade the cryptocurrency in New York.

The largest cryptocurrency by market capitalization gained more than 4.5 percent to $6,793, its highest since Tuesday, according to CoinDesk’s bitcoin price index. Bitcoin was trading near $6,732 as of 2:26 p.m. ET.

Cash is owned by Square and has 7 million monthly active users, the company said in its first quarter earnings call. On Monday, New York’s Department of Financial Services granted Square a virtual currency license, allowing users of the Cash app in the state to trade bitcoin. Bitcoin trading launched…

Continue reading at CNBC.com