Connect with us

Blockchain

Bitcoin Will Fall Further, Trading Bitcoin wk 49

Avatar

Published

on

Blockchain

XRP short-term Price Analysis: 31 October

Avatar

Published

on

Disclaimer: The findings of the following article attempt to analyze the emerging patterns in the XRP short-term market and its impact on the price.

As the Bitcoin market moved between some tough resistances and support over the past few days and given the strong correlations with the altcoins, XRP, the third-largest crypto has been noting a tug an pull with the asset’s value.

At press time, XRP was moving higher on the price scale with its current value at $0.2387. However, as the coin aimed higher, the market appeared indecisive of its next move.

XRP 1-hour chart

Source: XRP/USD on TradingView

The above chart noted the value of XRP moving along an ascending channel. Even though the trend dictates a breakout higher than the current value, the remaining indicators were pointing at the divided interest among market makers.

XRP’s immediate resistance at $0.2405 has been maintaining its value lower, as it tested this resistance recently and dipped. The digital asset was once more moving to test this resistance but does not have enough volume to push the value past this level.

Reasoning

The Relative Strength Index indicated that XRP was at an equilibrium stage, presently. This meant that the buying and the selling pressure had leveled and were consolidating.

Similarly, the Bollinger bands had converged which meant that the volatility in the market was low. The low volatility clubbed with the low momentum highlighted by the Awesome Oscillator implied that it was difficult to predict the next move of XRP.

The 50 moving average was above the candlesticks, but the diminishing gap could point at a trend reversal. If XRP manages to surpass the $0.2405 level, we may witness a temporary bullishness. However, it might be better to make the trends become clearer in the short term.

Conclusion

The overall trend appeared bearish given the low volatility and the loss of momentum. Traders might want to look for a clear trend change signal before assuming long or short positions.

Source: https://eng.ambcrypto.com/xrp-short-term-price-analysis-31-october

Continue Reading

Blockchain

Huawei’s New Phone Mate40 Will Have a Wallet For China’s Digital Currency

Avatar

Published

on

Multinational technological giant Huawei announced today that its newly-launched smartphone has a built-in wallet that will allow users to store, send, and receive China’s national digital currency.

Announcing the features of the Mate40 series in a Weibo post, the company said that the device is the first smartphone that supports the digital yuan via a hardware wallet.

The Chinese giant said in the post that users would enjoy hardware-level security while being able to control and protect their anonymity. Users can also conduct dual transactions using the new device, meaning they can also send and receive payments offline.

According to Huawei, the device guarantees a new safe and convenient payment experience for users.
To celebrate the launch of the smartphone, the company said it is giving out a free Mate40 Pro to the Weibo user who shares the post the most until November 6, 2020.

Huawei Partners China’s Central Bank

Huawei has been an active player in the blockchain industry, and the company continues to develop its blockchain capacities.

In November 2019, Huawei signed a strategic partnership with the digital currency research unit of the People’s Bank of China. After conducting a massive airdrop for the digital yuan last month, the country is now close to fully launching the new currency.

Samsung Leads Blockchain Smartphones

Meanwhile, Huawei is not the only company exploring new generation blockchain smartphones with built-in crypto wallets. The likes of LG and crypto exchange Houbi have also ventured into the blockchain smartphone market, with Samsung taking the lead.

Samsung released its first crypto-friendly phone in 2019, which provided support for BTC, ETH, and ERC-20 tokens. Since then, the South Korean multinational electronics mogul has been expanding its phones’ interaction with cryptocurrency and blockchain services.

In May, the company partnered with US-based crypto exchange Gemini to allow users to connect to the Gemini mobile app without having to log in again. In July, Samsung added Stellar and Decentraland to its Blockchain Keystore wallet.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/huaweis-new-phone-mate40-will-have-a-wallet-for-chinas-digital-currency/

Continue Reading

Blockchain

UK Citizen Allegedly Used Bitcoin to Facilitate ISIS Members Prison Breaks

Avatar

Published

on

A 27-year old British citizen had appeared before a local court because of allegations that he had used Bitcoin to send money to help ISIS members escape Syrian prison camps. The man, Hisham Chaudhary, has reportedly been a member of the Islamic State for over four years.

Terrorist Prison Breaks Funded By Bitcoin

According to the Dailymail coverage, Chaudhary has been an accepted member of the Islamic State since early 2016 – an infamous terrorist organization banned under UK law since 2014.

Some of his responsibilities within the group included gathering and transferring funds abroad to assist captured ISIS militants to escape from prison camps in northern Syria, controlled by the Kurds. Chaudhary’s preferable currency was Bitcoin. He acquired and sent an undisclosed amount of BTC to facilitate the transactions and remain hidden from authorities.

The charges against the 27-year-old also include compiling and disseminating a terrorist publication called The Wholesome Fruit In The Virtues And Etiquettes Of Jihad last year.

In total, Chaudhary faces seven charges. Four of them are against the terrorist publication, one for his association with the organization, and two counts of entering a funding arrangement. However, he hadn’t plea to the charges during his video appearance at Westminster Magistrates’ Court.

Crypto Connections With Terrorist Group Rise

Bitcoin’s involvement with terrorist organizations has been spiking in the past few months. Reports surfaced in early August that the US Department of Justice (DOJ) had seized over 300 cryptocurrency accounts linked or operated by three notorious groups – al-Qaeda, Hamas, and again – ISIS.

US law enforcement agencies followed the funds to the accounts on the Bitcoin blockchain, as everything is recorded on the network. They saw millions of dollars worth of transfers from fundraising campaigns and anonymous donation ending in the wallets.

Acting US Attorney Michael Sherwin commented that “these individuals believe they operated anonymously in the digital space, but we have the skill and resolve to find, fix, and prosecute these actors under the full extent of the law.”

Additionally, French authorities arrested 29 people allegedly operating a sophisticated network of funding jihadists and al-Qaeda members with digital assets. The police found evidence that the accused purchased cryptocurrency coupons in France. They transferred the details by secure messaging to jihadists in Syria, who retrieved the funds through digital asset platforms.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/uk-citizen-allegedly-used-bitcoin-to-facilitate-isis-members-prison-breaks/

Continue Reading
Blockchain3 days ago

Market Analysis Report (28 Oct 2020)

Blockchain5 days ago

I Disagree With Armostrong: Ripple CEO on Coinbase Apolitical Policy

Blockchain5 days ago

The PayPal Effect: Billionaire Chamath Palihapitiya And Libra’s Chief Believe Banks Will Support Bitcoin

Blockchain5 days ago

Ripple Price Analysis: XRP Suffers Hard As Fresh Lows Against Bitcoin Incoming

Blockchain3 days ago

Andre Cronje’s New DeFi Token Keep3rV1 [KP3R] Surges By Nearly 500% In A Day

Blockchain5 days ago

PayPal brings ‘crypto gambling’ to US retailers: economist Nouriel Roubini

Blockchain5 days ago

BTC Price Analysis: Bitcoin Weakens As Wall Street In Deep Red, Is $14K Target Intact?

Blockchain5 days ago

Huobi Launches USDT-Margined Swaps at the End of October

Blockchain5 days ago

Remembering Room77, Bitcoin’s Favorite Bar

Blockchain5 days ago

DEX Volumes Spike to $5 Billion Following $25 Million DeFi Hack

Blockchain5 days ago

User Transferred $1.15 Billion (0.4% Of Total Bitcoins) Transferred for $3.6 Fees

Blockchain1 day ago

Market Analysis Report (30 Oct 2020)

Blockchain5 days ago

Monero price prediction: XMR to reach $161, analyst

Blockchain5 days ago

COVID-19 impact on the blockchain market

Blockchain5 days ago

Coinmama review – Why it’s a safe and good option

Blockchain5 days ago

The PayPal Effect: Billionaire Chamath Palihapitiya And Libra’s Chief Believe Banks Will Support Bitcoin

Blockchain5 days ago

Crypto Market Analysis: 26th October 2020

Blockchain5 days ago

I Disagree With Armostrong: Ripple CEO on Coinbase Apolitical Policy

Blockchain5 days ago

September 2016 All Over Again: Number Of Bitcoin Whales Shatters Record Highs Following Recent Price Rally

Blockchain5 days ago

IG Prime Integrates Bloomberg’s Execution Management System EMSX

Blockchain2 days ago

Andre Cronje’s new KP3R token surges 2000% in hours

Blockchain5 days ago

McAfee continues to promote cryptocurrencies from his Spanish jail cell

Blockchain5 days ago

Projects driving cryptocurrency adoption

Blockchain5 days ago

Daniel Masters is for blockchain against banking

Blockchain5 days ago

Bitcoin and Cryptocurrency Market Analysis – 26.10.2020

Blockchain5 days ago

Most Crypto Exchanges Can’t Afford Basic Cybersec for $4M per Year

Blockchain5 days ago

Bitcoin fan Jack Dorsey to talk DeFi at Africa Fintech Summit

Blockchain5 days ago

News of News For Bears and Bulls

Blockchain5 days ago

SwapSpace: Quick Cryptocurrency Swaps at No Additional Fees

Blockchain5 days ago

Treasury official appointed to crypto-risk management platform

Blockchain5 days ago

Chainlink Rejected At Key Mathematical Level, But Geometry Points To Upside

Blockchain2 days ago

Gemini to Offer Real-Time Crypto Tax Services

Blockchain5 days ago

Hacker Returns $2.5 Million to Harvest Finance Deployer Contract

Blockchain5 days ago

Toyota goes crypto!

Blockchain5 days ago

US Bail Funds Are Seeing an Uptick in Cryptocurrency Donations

Blockchain5 days ago

Hedge Funds Failures, Bankruptcies and Pandemic Fatigue

Blockchain5 days ago

Paypal spark fury and accusations of “Crypto Gambling”

Blockchain5 days ago

Crypto trust and security issues adamant despite blockchain adoption

Blockchain5 days ago

Crypto Roundup: October 26th, 2020

Trending