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Texas and six other states are suing to end once and for all a program that would protect some young immigrants from deportation, the AP reports. The lawsuit announced Tuesday comes a week after a federal judge in Washington ordered the Trump administration to resume the Deferred Action for Childhood…
A sheriff in Illinois says Travis Reinking’s state firearms card was revoked last year by state police, but his guns were given to his father with the promise that they wouldn’t be shared with his son. Police in Tennessee are searching for the 29-year-old Reinking, saying he’s suspected of fatally…
A 2-year-old pup once destined to be euthanized was crowned the winner of Sunday’s “Beautiful Bulldog Contest” at Drake University. The 39th annual tongue-in-cheek pageant for English bulldogs, Drake’s mascot, is the unofficial start to this week’s Drake Relays track meet. This year’s champion, “Bow-Z,” hails from nearby Pella, Iowa….
Cryptocurrency prices have dropped considerably over the past 48 hours since our last markets update. Currently, the entire digital asset ecosystem has lost more than $ 32 billion since that time, and BTC/USD values have once again dipped under the $ 8K range.
BTC Sees Another Drop Below $ 8,000 USD
Traders are seeing quite a bit of bearish sentiment within cryptocurrency markets as more than 60 percent of the top digital assets are seeing losses. BTC/USD markets are hovering just above the $ 7,800 region after losing momentum just above the $ 8K zone during today’s early morning trading sessions. BTC global trade volume is only a few million lower than our last analysis, as the past 24-hours has seen about $ 5.2Bn in trades. The top five exchanges worldwide trading the most BTC today include Bitfinex, Okex, Binance, Bitflyer, and Huobi. The Japanese yen is once again dominating the fiat pack traded with BTC as the yen has commanded over 54 percent of global trade volume. The rest of the currencies traded behind the yen include the USD (22%), tether (13.9%), the euro (3.5%) and the Korean won (2.9%). There’s around $ 14.4Bn worth of global trade volume among all 1,500+ cryptocurrencies during the past 24-hour trading sessions.
BTC/USD Technical Indicators
Looking at BTC/USD charts show bulls have shown signs of exhaustion after the price was hovering around $ 8,500+ just a short time ago. The 4-hour chart shows the Macd is heading southbound around -207.29. RSI and Stochastic have been following the same downwards pattern, however, the oscillators have started kicking upwards a bit over the past 4-hours. This indicates BTC prices are struggling at the moment with failed attempts to keep the price above $ 8K.
Since our last markets update, the long and short term Simple Moving Averages (SMA) had crossed hairs and split, showing signs of bearish sentiment. The gap between the 100 SMA and the 200 SMA is now much more extensive, indicating the path to resistance looks to the downside. Order books show a pretty good temporary foundation until the $ 7,600 territory. After that, there’s a good amount of buyers all the way to the $ 6,900 zone. On the upside, bulls breaching the $ 8K region again, continuing to drive past $ 9K, could indicate some bullish momentum.
Bitcoin Cash Markets Continue to Follow a Similar Correlated Pattern
Bitcoin cash (BCH) markets are also feeling today’s losses, as the currency is now around 890 per BCH. Over the past 24-hours, BCH trade volumes across popular exchanges is about $ 339Bn. The most traded currency swapped for BCH today is BTC (51%), and traders have seen many opportunities over the past 24-hours. This is followed by tether (USDT 25%), USD (14.4%), the South Korean won (3.2%), and Binance coin (1.6%). The leading trading platforms show a small kick upwards on the 4-hour chart. Although the jump northbound could be a bull trap in the making. Last week’s bearish divergence indicated the price of BCH could drop below $ 1K, as signs of the dip started showing just three days ago.
BCH/USD Technical Indicators
BCH/USD charts show a similar correlation to BTC/USD patterns across the 4-hour template. There’s not much difference between the two, as both cryptocurrencies are down in value compared to a few days ago. The 100 SMA and 200 SMA are similarly gapped with the short term 100 well above the 200 trendline. This indicates resistance is fierce at the moment, and, if the price of BCH doesn’t get past the current vantage point, the coin’s value could go lower. RSI and Stoch levels are seeing a temporary bounce up, but both have been heading southbound. Order books show the value should hold pretty decent between $ 825 and $ 780 per BCH. On the flip side, if bulls manage to push past resistance during the eastern side of the world’s trading sessions there will be some pit stops around $ 910 and $ 1K.
The Verdict: Crypto-Traders Uncertainty and Doubt Remain
As mentioned in our last markets update, traders have been uncertain after the BTC/USD price dropped, trying to stay above $ 9K. Shorts (betting against the price) started stacking up on exchanges like Bitmex and other trading platforms, offering margin trading. Long (betting the value will be bullish) contracts have slimmed as well over the past weekend. Regulatory FUD has lessened a touch in the news but overall the past few months of doubt still plagues cryptocurrency markets today.
Where do you see the price of BTC and other digital assets heading from here? Do you think cryptocurrencies will see more gains? Let us know in the comments below.
Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
Images via Shutterstock, Bitstamp, Trading View, and Coinmarketcap.
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The post Markets Update: Cryptocurrency Prices Begin to Sink Once Again appeared first on Bitcoin News.
A Dutch multinational financial provider, Rabobank has announced the possible introduction of a ‘cryptocurrency wallet’ tethered to the company’s banking services. The news follows the bank’s recent ‘high risk’ profiling of account holders that participated in bitcoin trading.
Rabobank Investigates the Idea of Introducing a Cryptocurrency Wallet to Its Online Banking Environment
This week the Dutch institution, Rabobank, the second-largest bank in the Netherlands in terms of total assets revealed it may introduce a cryptocurrency wallet called “Rabobit.” The wallet idea is one of 22 concepts introduced in Rabobank’s internal Moonshot acceleration program. At the moment the idea is to host a cryptocurrency wallet that’s tethered to the company’s online banking environment. Rabobank says right now company employees are researching the benefits and risks tied to implementing a digital currency wallet.
“The idea of Rabobit is a cryptocurrency wallet within the online banking environment,” explains the Dutch bank.
The employees who are currently investigating this initiative approach clients for this, both in person (street research) and via the website.
A Messy Banking Past
Rabobank also has a history of paying fines for unethical banking practices. In 2013 the bank paid a $ 1 billion fine for “unscrupulous trading practices” that were associated with the LIBOR scandal. The bank’s California unit just got into trouble this year when regulators investigated alleged money laundering associated with Mexican drug sales and organized crime. Rabobank agreed to pay $ 369 million to settle the money laundering allegations.
The Dutch institution’s webpage says if the wallet is launched it will be hosted by a trusted party and within the secure online banking environment. Further, customers can get insight to an investor’s overall liquidity by utilizing both banking and cryptocurrency accounts all in one place.
Rabobank Recently Declared Customers Who Trade Bitcoins ‘High Risk’
Even though Rabobank has launched the cryptocurrency wallet website the company says the idea hasn’t been fully established yet and the company is researching to see if demand exists.
“Rabobit has not yet been realised, there is still no official decision to introduce this. As soon as more info follows, we will communicate this,” a Rabobank representative on Twitter explains yesterday.
Just recently Rabobank warned that customers who trade bitcoins using their accounts were dealing with certain risks. Further, account holders who trade cryptocurrencies would be classified as “high risk” customers.
“Bitcoins are considered to be risky products. Customers who trade in high-risk products can have a higher risk profile. It is conceivable that companies that deal with cryptocurrencies are seen as too risky and can therefore not be accepted as a customer,” Rabobank stated on February 2.
Ownership and value transfer are completely anonymous and evade supervision by third parties, such as a government. Which means that cryptocurrency does not meet the highest standards of compliance set by Rabobank.
Even though the bank representatives state there is no official decision to introduce the wallet just yet, it seems the company is changing its mind about cryptocurrencies, and may be friendlier toward the technology in the near future.
What do you think about Rabobank back peddling on recent statements about bitcoin risks and then announcing the possibility of creating a cryptocurrency wallet? Let us know in the comments below.
Images via Rabobank building, logo, and the Rabobit website.
At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.
The post Dutch Bank That Once Called Bitcoin ‘High Risk’ Considers Building Crypto-Wallet appeared first on Bitcoin News.
There’s nothing like opening up a brand-new makeup kit and glamming it up—though that glamorous feeling may be lost if you find out you’re applying makeup someone else already used. That’s the gist of a complaint filed in Chicago last month by a California woman who says Ulta repackaged…
President Trump told some whoppers in this week’s State of the Union speech: His tax cuts were the biggest ever (they weren’t), he has added 2.4 million new jobs (only if you count former President Obama’s last few months in office), wages are finally rising (they’ve been slowly but steadily climbing…
The U.S. economy slowed at the end of last year, once again unable to sustain 3% growth for very long in a trend that has plagued the recovery from the Great Recession.
The 2.6% figure for the October-December period reported Friday by the Commerce Department — the first of three estimates in the…
First came their daughter’s escape from an alleged house of horrors. Now come the charges. David Turpin, 56, and Louise Turpin, 49, of Perris, Calif., were charged Thursday with multiple felony counts of torture, child abuse, abuse of dependent adults, and false imprisonment. David Turpin was hit with an additional…
The country’s new leader is moving rapidly to reshape France in his own image, revamping labor laws, co-opting opposition political parties and dividing union leaders. The question now is whether his free-market blitz will stick.
WSJ.com: What’s News Europe