Author: Anna Galvez

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Crypto

Bitcoin Cash (BCH) Has Gained About 133% In April And Now Hovers Around $1,550

Cryptocurrencies are often “getting on the radar” when they show incredible performances. For example, 2017 has been a great year for cryptos. At the beginning of 2018, however, the cryptocurrencies market have tended to correct downwards. Despite this trend, some cryptos stand out and allow investors to make more than satisfactory profits. This is the case of Bitcoin Cash (BCH), too, which gained about 133% since April.

In 2017, we saw the Bitcoin (BTC) rising from a value of $950 at the beginning of the year to about $20,000 at the end of the year. Also, Ripple (XRP) registered by the end of 2017 a price of about 350 times higher than that at the beginning of the last year.

Therefore, the massive appreciation of Bitcoin Cash (BCH) shouldn’t surprise us much. However, is the only major cryptocurrency who achieved such gains in 2018, so far.

Bitcoin Cash (BCH) rose by 133% since April but it seems to be a short-term gain

On the BCH chart below, we can see that since the beginning of April 2018, the BCH price has started an impulsive upward movement. While the cryptocurrency was only worth $600 at the beginning of the month, it reached the $1,400 threshold at the end of the month, thus achieving a performance of around 133%.

At the moment I’m writing this article, BCH is trading at about $1,571, registering an approximative 4.13% depreciation in the last 24 hours. Yesterday, the crypto closed at $1,655.

Currently, Bitcoin Cash (BCH) is the 4th asset in the cryptocurrencies market, with a market cap which is getting closer to $27 billion.

By investing $500 in the Bitcoin Cash (BCH) at the beginning of April, you would’ve scored about $665 in profit at the beginning of May, thus, your capital going from $500 to $1,165 (about 2.33 times higher). This should prove, once again, the strength that investments in cryptocurrencies can be huge, as also is the profitability of these assets on the short-term and medium-term. Definitely, BCH is a crypto you should keep an eye on.

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Crypto

New York Stock Exchange Might Introduce Bitcoin (BTC) Trading Platform, After Goldman Sachs Also Showed Interest In Crypto Investments

Despite the misgivings that many investors and managers have shown in recent months towards cryptocurrencies, the barriers to dealing with them seem to be becoming less and less resilient. Even on Wall Street s the New York Stock Exchange is up for accepting Bitcoin (BTC) trading on a future platform, specially designed for this.

Not much is known about the characteristics of the project. Also, is not yet a certainty, despite the inclination of some market participants to connect with cryptocurrencies via the New York Stock Exchange.

The news, which has been confirmed in the media by four people involved in the initiative, has not yet been confirmed by the New York Stock Exchange’s parent company. The plans came just hours after another US financial symbol, Goldman Sachs, has confirmed that it will carry out the first internal transactions relating to cryptocurrency in the upcoming weeks.

Prior to New York Stock Exchange, Goldman Sachs also announced upcoming Bitcoin (BTC) investments of their own

Goldman Sachs will use its money to place buy and sell orders on behalf of its clients in financial instruments that allow speculation on Bitcoin (BTC) futures. It will also offer them its own version of “futures”, called non-deliverable forward, which will allow bilateral transactions or by mutual agreement between customers, say the sources.

In this way, Goldman Sachs is taking a step forward when it comes to virtual currency trading, an issue that it has not yet brought to the attention of national authorities and regulators.

The lack of information and regulation on this type of product, which many do not even consider an asset, raises doubts about its viability as an investment destination. The enormous volatility of the Bitcoin (BTC) price is another issue for some traders.

However, this doesn’t seem to halt many people to invest big money in Bitcoin (BTC), a fact which, allegedly, is considered profitable for New York Stock Exchange which seems to be interested in launching its own Bitcoin trading platform. Even more, Goldman Sachs share the same point of view regarding BTC and cryptocurrencies.

 

Categories
Crypto

Lightning Network For Bitcoin (BTC) Supported By The New iOS Crypto Wallet, CoinClip, And By Vaultoro Cryptocurrency Exchange

Lightning Network is a second layer solution for Bitcoin that allows users to make instant micropayments without having to resort to third parties. Today, a group of developers announced the release of the first Bitcoin (BTC) wallet for iOS, CoinClip, with the Lightning Network enabled.

CoinClip is a beta-phase Bitcoin (BTC) wallet for iOS that is now available on the Bitcoin testnet

CoinClip is the first Bitcoin (BTC) wallet available for iOS devices that runs Lightning Network. However, this is not the first mobile wallet for Bitcoin (BTC), as the Eclair wallet has launched its version for the Android operating system in the first week of April and users are still waiting for it to be enabled on iOS.

Although it is enabled on the Bitcoin testnet and there is no risk of loss of funds, for now, users on Reddit have reported that the CoinClip application takes some time to synchronize and complete the mapping of payment channels. To this, one of the developers responded that one of their main objectives for the next update will be to try to speed up the mapping.

The Twitter audience was enthusiastic about the initiative, although some Reddit users noted that the developers behind the app are low-profile, so caution should be needed once the application completes its testing phase.

The first cryptocurrency exchange to include Lightning Network was registered

The implementation of Lightning Network has been gradually increasing, although there is still a long way to go since, according to some specialists, the applications that would use the new payment channels are not ready to be used outside the testing phase.

However, a few days ago, the first cryptocurrency exchange to include Lightning Network was registered. Therefore, the Vaultoro cryptocurrency exchange is the first Bitcoin (BTC) exchange platform to implement the new micropayment protocol. To use it, users would only need an Eclair wallet and to open an account with Vaultoro.

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Crypto

Bitcoin (BTC) Dropped Today As Warren Buffet Described It As “Probably Rat Poison Squared”

Bitcoin (BTC) has reached its highest level since early March during the weekend but the rise was on the verge of reaching the $10,000 psychological level, triggering a sharp correction. The BTC/USD broke below $9,600 in the early hours of Monday’s Asian session and touched a low of $9,220 as Warren Buffett described BTC as “probably rat poison squared”.

Bitcoin (BTC) Price Analysis – The sentiment is bearish

However, now Bitcoin (BTC) is trading above $9,400, recording only a 1.90% loss in the last 24 hours, but the bearish momentum is still gaining traction.

The cryptocurrency has lost more than 7% from its peak of $9,948, although the reasons behind the decline are mostly technical and speculative.

The resistance at the $10,000 level is reinforced by the DMA of 200, which makes it more difficult to break. If the bulls manage to pass this level, the BTC/USD will rush to the $10,400 and then it will most likely move to the next psychological control in the $11,000 zone.

On the downside, the first support line comes in at $9,000, where there is a psychological level along with a short-term uptrend line. Then wait for 8,900 (DMA of 100). A sustainable move below this level will focus on the $8,000.

Bitcoin (BTC) decline: Buffet described Bitcoin (BTC) as “probably rat poison squared” and Japanese announced stricter crypto regulations

First, the Japanese crypto regulators announced that they plan on introducing much stricter crypto regulations aiming the cryptocurrency exchanges, in a measure which apparently seek to protects crypto traders from crypto-related cyber attacks. More about this, you can read here.

As this wasn’t enough, Warren Buffett, the renowned investors and markets’ “guru”, called Bitcoin “rat poison,” speaking on CNBC before the annual Berkshire Hathaway meeting.

Apparently, Bill Gates shares Buffet’s point of view.

Thus, Bitcoin (BTC) dropped to $9,220 during the Asian trading session when the Warren Buffett’s interview occurred. However, BTC recovered slightly to above $9,400 but, be aware, the bearish momentum is still gaining traction. Most probably, BTC will fluctuate a lot in the upcoming period but, as said above, if the bulls handle rising BTC/USD above $10,000, then BTC will rise even further to $10,400 and $11,000.

Categories
Crypto

Ethereum (ETH) Dropped 8% In The European Trading Session But Is Correcting Upwards

SEC news will determine the future of the Ethereum (ETH) project but other cryptocurrencies may also be affected. The ETH is now quoted at around $745 and its immediate support is $700, while a $680 level will provide stronger support.

The US cryptocurrencies regulators have been sending mixed messages for some time now

The Securities and Exchange Commission (SEC) has not been clear that some cryptocurrencies are security tokens. Last week, the Ethereum (ETH) team brought to the attention of the US regulators that today, May 7th, is the day that SEC and CFTC officials have to release the cryptocurrencies classification.

Ethereum co-founder, Joseph Lubin, recently said that impending regulations could shape the future of Ethereum tokens. However, he added that they were not at all concerned about classification as a security asset. Lubin said in a commentary:

We spend a great deal of time with lawyers in the U.S. and other countries, and we’re pretty sure it’s not a security asset; it’s never been a security asset.

On the other hand, Micheal Piwowar, a commissioner at the SEC, has a different point of view:

Is an ICO a security asset? So far, as our president has said, everyone he has looked at, everyone I have seen, is a security. Bitcoin (BTC) itself is not a security but these custom tokens for these initial coin offers, most of them are. There are some legitimate things going on and then… Literally, there are frauds.

Ethereum (ETH) price analysis

Ethereum (ETH) price is correcting upwards, trading now at approximately $745, after falling briefly below the $700 level in today’s European trading session when the ETH/USD dropped about 8%.

The gap between the moving averages is narrowing to indicate that the ETH/USD could continue to roll back to the $800 level. On the upside, therefore, the next target is the $760 level, as the first level for upward correction, the $740 level has been achieved.

On the downside, immediate support has formed around $700, while below this level, the $680 zone is a great support highlight.

Thus, Ethereum (ETH) is suffering today because of the SEC latency in giving a clear classification of cryptos but also due to the fact the Japenese announced stricter cryptocurrency regulations, thus affecting the whole cryptocurrencies market today.

 

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