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BPSAA | Blockchain Privacy, Security & Adoption Alliance

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BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.

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Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto) https://bpsaa.vision/pirate-chain
Turtle Network (Interoperable DEX w/fiat) https://bpsaa.vision/turtlenetwork
Ether-1 (Decentralized Storage) https://bpsaa.vision/ether1
Sentinal (Decentralized VPN) https://bpsaa.vision/sentinel

Source: https://cryptocoremedia.com/bpsaa-blockchain-privacy-security-adoption-alliance/?utm_source=rss&utm_medium=rss&utm_campaign=bpsaa-blockchain-privacy-security-adoption-alliance

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Ethereum bounces off crucial support area but faces major hurdle

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Ethereum price is -3.3% down but its rebound above $390 is key to bulls

While Ethereum (ETH) and most other altcoins have traded lower in the past 48 hours, technical indicators suggest that the price of ETH is likely to recover above the major resistance area within the coming days.

According to on – chain data provider Glassnode, Ethereum’s realised price recently hit a high last seen in January 2019. As per the data, the metric’s value stands at $246 after jumping 21% since April. Realised Price is a crucial indicator as it gives the average price of every Ether coin at the time it last moved.

ETH/USD

The breakdown to lows of $382 meant bulls lost momentum and a key support area by failing to hold gains around $405. The dip also meant Ethereum risked further losses, a scenario that could prove to be detrimental to bulls’ short term plans if it plays out again.

However, prices have since bounced off the support area and holding the pivotal area bodes well for buyers. The recovery puts prices above the 23.6% Fibonacci retracement level that marks the downswing from a $411 high to $382 low and highlights $395 as the immediate resistance level.

If bulls manage to hold off bears around this area, they could mount an attack at the next target marked by resistance at the 50% Fibonacci retracement level of the aforementioned swing.

A bullish scenario is forming on the daily chart with respect to Ethereum holding the $390 area. However, the MACD and the RSI on the hourly chart are suggesting struggle, which means that the bulls need to discover an upside momentum on increased buying pressure to push ETH/USD above the 100 – SMA. Achieving this will provide the encouragement bulls need to attempt breaching the wall at $420.

ETH/USD price chart. Source: TradingView

If bulls maintain the bounce off the trendline, a breakout is likely with ETH/USD blasting out of a long term descending triangle pattern.

On the flip side, a rejection at current price levels opens up Ethereum to an immediate drop to lows of $385. A further drawdown from the $385 support level risks putting bears in charge and opening up an easy route to lows of $368.

Source: https://coinjournal.net/news/ethereum-bounces-off-crucial-support-area-but-faces-major-hurdle/

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Bitcoin holds $13,000 even as hash rate slumps

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Hash rate has slumped from 151 EH/s to 132 EH/s but Bitcoin price remains bullish around $13,000

Bitcoin continues to trade around the $13,000 level even as the network’s hash rate slumped to new weekly lows.

Data from Blockchain.com shows that Bitcoin’s seven – day moving average hash rate fell from 151.09 EH/s on October 24 to around 132.9 EH/s on October 26.

Bitcoin hash rate 7 – day moving average chart: Blockchain.com

The decline in hash rate coincides with the end of Sichuan’s wet season, a region that attracts huge numbers of miners each year. It is estimated that over two – thirds of Chinese miners descend on Sichuan every rainy season, attracted by the availability of cheap hydroelectricity.

Bitcoin holding $13,000

Bitcoin’s steady action over the past few days contrasts with the picture seen across the global stock market.

For the stock markets, the US presidential election, lack of progress on stimulus talks, and reports of surging COVID-19 cases in the US and across Europe provide a bleak outlook.

On Monday, the 26th of October, the Dow Jones dropped 2.29%, the S&P 500 1.86% and Nasdaq 1.64% as financial markets on Wall Street tanked. The same trend registered in Europe, with the German DAX slipping 3.71% and FTSE lost 1.16% to leave investors nervous.

But as most stocks trend bearish on negative sentiment, investors are bullish on Bitcoin. The technical picture suggests that Bitcoin remains in the buy zone, with moving averages signalling a strong buy as oscillators hover around neutral on the daily chart.

As such, chances are BTC/USD pumps above $14,000 near term, with reasonable price targets around $16K medium term. However, technical analyst Cole Garner has suggested the price may fall sharply after another leg up.

“If we leg up — hammer falls right afterwards”, the analyst tweeted and accompanied his suggestion with the chart below that suggests Bitcoin is overvalued.

Chart suggesting Bitcoin price could fall sharply. Source: Cole Garner on Twitter

Other than the fall in total computational power, Bitcoin miners appear to be contributing to the slight sell – off pressure that has capped BTC/USD around $13K. As per data on Bitcoin terminal Byte Tree, miners rolling inventory (MRI) shows that the miners sold just 11% more bitcoin than generated this past week. The average over the past five and twelve weeks is 6%.

The data, however, suggests that MRI has jumped to 111% in the past 24 hours, with “first spend” figures at 1,293 BTC against 613 BTC generated (at the time of writing.)

A screenshot showing miners have sold more Bitcoin in the past day than the average over the past five weeks. Source: Byte Tree

If it tanks, BTC/USD will likely fall to lows of $11,300 — $11,500. The 100 – SMA and 200 – SMA are located at $11,168 and $10,050.

Source: https://coinjournal.net/news/bitcoin-holds-13000-even-as-hash-rate-slumps/

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IRS Makes Answering the “Yes or No” Bitcoin Question Much Easier

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: https://cryptobriefing.com/irs-makes-answering-yes-no-bitcoin-question-much-easier/

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