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Over the last week, Bitcoin’s price dropped by almost 30% to a new BTC 2018 low. For the first time in more than a year, Bitcoin is trading below the $5,000 mark.

The value of other cryptocurrencies has also declined in the past days and weeks. Most notably, today Ethereum is traded for a mere $138 on Bitfinex, in contrast to the $1000+ this time last year.

Is this the bottom for Bitcoin?

According to Bloomberg Intelligence analysts, the drama is only just starting. They predict that the BTC price could fall to as low as $1,500, a further drop of more than 70 percent from current trading levels.

Last weeks’ BTC break below the major support level of around $6,000, left analysts calling $4,500 and $3,500 the next potential support levels, in a new wave of bearish targets. Today, BTC fell below the first support level of $4,500 currently trading at around $4,400 and falling rapidly.

Chart indicators seem to be a further confirmation of the bearish trend with Bitcoin currently trading well below the 50, 100 and 200-day moving averages. The RSI, however, is in oversold territory the daily chart, so a short-term spike in the price or a consolidation around the $4,500 price point is possible.

BTCUSD Trading Chart by Tradingview 20/11/18 Why is Bitcoin’s price falling?

Mike McGlone, the Bloomberg Intelligence analyst who warned that the slide could get much worse. McGlone seems to think that the cryptocurrency Bitcoin Cash (BCH) and its recent fork is one of the main reasons for the decline, stating that

“sparked by the pump for the Bitcoin Cash hard fork,”. “That pump that began a few weeks ago, got the market a bit too offsides with speculative longs playing for the good old days. But this is an enduring bear market.”

Bitcoin Cash (BCH) is of course in itself a cryptocurrency which was forked from Bitcoin (BTC), and even managed to get to the second highest capped cryptocurrency globally at one stage.

A further justification for the price decline is said to be the Nvidia Corp. weak sales forecast for the current quarter. This is on the bases of predicting a loss of demand for its graphics chips, as there is less demand from miners.

Disclaimer: This article is for information and entertainment purposes only and should never be construed as investment or trading advice. Bitcoin and other cryptocurrencies can be extremely volatile and you should always do your due diligence and research on the topic, utility, product or service and legal and regulatory requirements before deciding to invest. We do not take any responsibility for possible losses you may incur.



The post Bitcoin price falls below $4,500 – is this the bottom? appeared first on CryptoCoins Zone.

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JOYSO has announced it will partner with TRON network, to build a hybrid decentralised exchange.

This exchange is set to become an infrastructure for all Decentralized Applications (DApps) on the TRON network, in return improving the sustainability of TRON’s blockchain.

JOYSO decentralised exchange

The founder of the JOYSO decentralised exchange, Mr Tom Soong, has launched the hybrid trading platform for cryptocurrencies, with the aim to provide a more cost-effective trading platform with low fees and a reduced risk of a hack or cyber attack. Launched in May 2018, the JOYSO exchange facilitates off-chain matching and on-chain settlement of real-time trading mechanisms. This will enable JOYSO ‘s users to trade any token directly via their digital wallets. YOYSO completed its ICO back March 2018.

Besides maintaining the new decentralised exchange, JOYSO is also making strides in the development of technology for the blockchain industry. JOYSO is also fast progressing with the planned launch of decentralized platform known as the NAS-JOYSO, build on the Nebulas blockchain.

JOYSO CTO Will Hsieh, stated that:

“TRON’s blockchain provides a conducive environment for token issuers where it is affordable and user-friendly. This will attract more users to join TRON’s ecosystem and boost its token economy. With our expertise, JOYSO is able to provide a safe and simple solution for exchanging of tokens on different blockchain hence creating a more sustainable network.”

TRON Network expansion

TRON has recently made headlines by completing more than 500,000 transactions, since launching four months ago. This is more than the transactions on the Ethereum network.

Recently, TRON acquired the peer-to-peer sharing software, BitTorrent. This will give users an incentive in earning TRON’s cryptocurrency (TRX) by downloading and sharing content as part of TRON’s Atlas Project.

An announcement by Gerald Chan, Marketing Director at JOYSO

Disclaimer: This article is for information and entertainment purposes only and should never be construed as investment or trading advice. Bitcoin and other cryptocurrencies can be extremely volatile and you should always do your due diligence and research on the topic, utility, product or service and legal and regulatory requirements before deciding to invest. We do not take any responsibility for possible losses you may incur.



The post JOYSO announces partnership with TRON Network appeared first on CryptoCoins Zone.

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 The future of Blockchain is top of the agenda CryptoBlockCon London, taking place September 24-25 at Cargo, 83 Rivington Street, with tickets available on the CryptoBlockCon website.

Highlights of the event will include presentations from with Hertej Sawhney & Justas Pikelis, and panel discussions discussing future possibilities of blockchain technology, decentralization, tokenization, and market activity for the coming year. Addressing common challenges for industries to understand, develop and succeed in the area of blockchain and crypto assets, the event will bring together world leaders across industries, from finance to healthcare.

CryptoBlockCon London Blockchain Conference speakers and prominent attendees 

Representatives from KamaGames, CitiCash, Kinect, Cointelligence amongst others will be in attendance to showcase how companies are using blockchain technology to continuously innovate and disrupt industries.

CJ Smith, Co-Founder at CryptoBlockCon, said: “CryptoBlockCon’s traveling events showcase companies who are using blockchain to improve industries with increased efficiency, security, and transparency, educate current and future industry participants on blockchain technology, and ultimately serve as a platform to connect industry participants to assist in the adoption and implementation of blockchain technology. London is a fantastic location to celebrate innovation in Blockchain, and we are excited to see so many representatives from across the world come together to look at how the sector will
continue to evolve.”

Topics up for discussion in London will include:

• ‘ICOs to STOs – The future of investing in blockchain’
• ‘Industry Realignment: Creating Real World Blockchain Applications’
• ‘Re-Energising the Performance and Financing of the Healthcare Landscape’

Plus, much more. View the full agenda for CryptoBlockCon London here. To stay up to date with CryptoBlockCon news and industry happenings, sign up for the CBC newsletter on the “contact us” page at CryptoBlockCon.com.

We’ll see you in London!

2018 Sponsors

CitiCash – KamaGames – Review Network – Beaxy – Kinect – Galleon Quest
Kidcoin – UUNIO – Bitfinance – VRBex – SSUsecure
2018 Partners
Future Times – Innovation & Tech Today – CoinStructive – Ascent Conference – Smartereum
Blockchain Beach – BTC Media – Bitcoin Magazine – yBitcoin – Distributed – Blokt
Block Explorer – Newcoins168.com – Panony – ICO Holder – Light Node Media
Blockchain Weekly – Cryptopulse – Cryptovest – CryptoFund Research – AMB Crypto
Home of Crypto – CryptoCoins Zone – ICO Discount Club

Upcoming CryptoBlockCon Events:

London, September 24-25, 2018
Las Vegas, December 11-12, 2018
Los Angeles, April 3-4, 2019

Learn More:

http://www.cryptoblockcon.com 
info@cryptoblockcon.com

Connect with CryptoBlockCon on social media:

Twitter
LinkedIn
Instagram
Facebook
YouTube

Disclaimer: This article is for information and entertainment purposes only and should never be construed as investment or trading advice. Bitcoin and other cryptocurrencies can be extremely volatile and you should always do your due diligence and research on the topic, utility, product or service and legal and regulatory requirements before deciding to invest. We do not take any responsibility for possible losses you may incur.



The post Crystal Rose, Hertej Sawhney, Justas Pikelis & On Yavin take the stage and join KamaGames, CitiCash & Cointelligence to headline CryptoBlockCon London appeared first on CryptoCoins Zone.

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Singapore-based blockchain tech startup, IBD Technology, announced the launch of their pioneering decentralized ecosystem for businesses, called “TOOL Global”. It gives out rewards of global virtual points that can be used to mine the TOOL Global proprietary own digital token – “OLO” coin. The token will be listed in exchanges by October ’18.

Transparent self-governance

Singapore-based blockchain tech startup, IBD Technology, has announced the launch of a tripartite alliance, which can deliver full business model transparency.

To facilitate transparent self-governance of its ecosystem project, a non-profit organisation was launched as a strategic partner to oversee operations and funding, alongside an alliance program to promote the project.

This business model is well-positioned for good growth opportunities with the increase of blockchain big data and the consumers’ need for ownership of their own data.

At the Blockchain Commerce Application Summit, IBD Technology launched the new TOOL project alongside AC495 and The WOLOT as their two strategic partners.

The TOOL Decentralized Ecosystem for Businesses 

The TOOL ecosystem returns consumers ownership over their data and its value while giving businesses a more streamlined option to obtaining user data analysis for market research. This is in addition to lowering the cost of user acquisition via merchant onboarding and user sharing. Valid online activities will be converted and recorded into different behavioural value tags (BU) which serve as reward/voucher points and can be accumulated for OLO tokens for payments within the ecosystem, or stored for appreciation.

It’s corresponding digital wallet app by the same name (OLO), is already on its beta release. But transparency doesn’t have to stop there. The non-profit organization called the WOLOT Foundation was launched to oversee all operations. This will allow TOOL Global’s ecosystem to be self-governed by its participating business entities and community.

A tripartite alliance

To facilitate widespread integration and adoption of the ecosystem, the WOLOT Foundation has established a partnership with AC495, a self-governed global community led by blockchain experts and Key Opinion Leaders (KOLs).

These international leaders will lead the marketing and promotional effort and serve as builders to TOOL Global’s open community.

IBD Technology CEO, Ben Chan, believes this arrangement to be perfectly aligned with the company’s mission to bring transparency and ownership to mass users.

 “We’ve built a marketing system that’s user-centered, now it’s going to be promoted by community leaders, whose earnings and business profits will be overseen by the community itself”, stated Ben Chan.

The tech startup has already attracted big partners in the APAC region such as China’s Jinvovo Technology, and Singapore Finergy Advisory. Norman, CEO of Finergy Advisory believes that the business model is well-positioned for good growth opportunities with the increase of blockchain big data and the consumers’ need for ownership of their own data.

The project has also gained recognition in the Singaporean space and is currently in talks with authorities and associations for future collaborations.

For more information on TOOL Global, visit www.IBDT.io

An announcement by Lynnette Goh, at IBD Technology.

Disclaimer: This article is for information and entertainment purposes only and should never be construed as investment or trading advice. Bitcoin and other cryptocurrencies can be extremely volatile and you should always do your due diligence and research on the topic, utility, product or service and legal and regulatory requirements before deciding to invest. We do not take any responsibility for possible losses you may incur.



The post IBD Technology Launch Pioneering Decentralized Ecosystem appeared first on CryptoCoins Zone.

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UK based Coinbase customers can now buy Bitcoin and other cryptocurrencies faster and cheaper with same day deposits and withdrawals in GBP to British bank accounts.

Buying Bitcoin in the UK now more accessible

At the beginning of April Coinbase announced that they will be introducing British pound (GBP) support for UK-based customers. Now that this is up-and-running it really makes buying Bitcoin in the UK a lot more accessible.

The cheapest way to buy Bitcoin in the UK

Until now many UK-based buyers have had to use the Revolut app to bridge this gap. But now you can just send British pounds (GBP) directly from your bank account. There is no need to convert from GBP to EUR in the app, shortening the buying process quite considerably. This update also applies to Coinbase Pro (traders) and Coinbase Prime (institutions).

CoinbasePro and Zero Fees!

Using Coinbase Pro is now by far the cheapest way to buy Bitcoin in the UK, in our book. If using a maker order when executing the trade it’s literally zero fees!

User testing has reported, it took around 20 minutes for a deposit to show on our Coinbase account. A sharp contrast to the previous process of converting Bitcoin into euros and then into pound sterling, via international bank transfer, which took several days.

Although it has taken quite some time for this to be activated after the initial Coinbase announcement, now it is fully available – it’s great!

To get started with Coinbase and receive free Bitcoin from our referral click here.

Disclaimer: This article is for information and entertainment purposes only and should never be construed as investment or trading advice. Bitcoin and other cryptocurrencies can be extremely volatile and you should always do your due diligence and research on the topic, utility, product or service and legal and regulatory requirements before deciding to invest. We do not take any responsibility for possible losses you may incur.



The post Coinbase Pro is now the cheapest way to buy Bitcoin in the UK appeared first on CryptoCoins Zone.

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The Bitcoin (BTC) price has slipped down 2.3% so far today to reach $6,875. But the main support levels are still holding. Following a run-up to reaching just over $7,100 yesterday Bitcoin is now cooling off. 

Bitcoin Price and Market Cap — TradingView Bitcoin could find support at $6,500 

Trading indicators analytics show that the next major support level for Bitcoin on the daily chart is around the $6,500 mark. BTC bulls are currently trying to hold the price above the 100SMA and 50SMA trend lines. Should the Bitcoin price today close above these support levels at around $6950 or above, this would be a very bullish sign for Bitcoin in the mid to short term. Once the support level is confirmed BTC is much more likely to try and test the 200SMA currently at around $7,700. 

$7,700 BTC is still in play

But should the bears take control today and push BTC downwards to a close below the 100SMA and 50SMA support levels it is very likely that we will have to test the 21 SMA to find a support level at $6,500. 

Bitcoin Trading Chart — TradingView

A fifth test of the $6000 support is also not yet out of the question. On the bright side, our Bitcoin price analysis shows that BTC has very strong support at the critical $6000 level, holding this potential “bottom” four times this year. 

The Relative Strenght Index (RSI) indicator is still in the bullish zone at around 53, which also leaves BTC plenty of room for a potential pump to the $7,800 price mark. 

RSI BTC/USD trading indicator – Tradingview

The MACD has not yet indicated a bearish crossover but it is a good indicator to watch closely right now, in order to try and ascertain a potential move down.

MACD BTC/USD indicator — TradingView

To see a BTC/USD price chart live please click here

Disclaimer: This article is for information and entertainment purposes only and should never be construed as investment or trading advice. Bitcoin and other cryptocurrencies can be extremely volatile and you should always do your due diligence and research on the topic, utility, product or service and legal and regulatory requirements before deciding to invest. We do not take any responsibility for possible losses you may incur.



The post Bitcoin Price Analysis: BTC dips below $7000 appeared first on CryptoCoins Zone.

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User behavioural data is a major component of cyberspace today, and internet users are active contributors to these (big data); All user activities on the Internet are intangibly recorded and stored by various platforms.

The importance of user behaviour data acquisition

The importance of user behaviour data acquisition (aka “traffic”) is often emphasized in digital media industries through page views (PV) and IP address tracking mechanisms. With the invention of so many digital applications and e-services, these user behavioural data are also becoming more diverse. However, not all of them constitutes as valid data. A 10-year-old who’s highly interested in cars, visits automobile websites daily, but has no real buying power, is not a real prospect for a car business, hence all data supporting otherwise is invalid.

The loophole of behavioural consumption

However, to this day, companies selling consumer data do not recognise this loophole of behavioural consumption. Based on years of analysis on pain points in big data consumption and e-commerce businesses, IBD Technology has focused on the research and development of new business and technical consensus; With the aforementioned issue of data validity, the TOOL e-commerce ecosystem solves business roadblocks like these.

TOOL Global blockchain e-commerce ecosystem for SMEs

TOOL Global’s new ecosystem is built on a solid foundation of blockchain technology. It provides REST API interfaces for global SMEs and merchants to collect effective user behaviour data and encrypts and stores these desensitized data to provide value mining of tokens. So there will be no more worries about security and privacy protection. A number of platforms aggregate global consumption data and share them to SMEs /merchants looking to use them. These merchants would distribute tokens according to the established standards of the platform. For example, if businesses join the ecosystem today, they can independently issue BT (value tags for measuring the contribution of customer behaviour data) to users within the ecosystem. The system distributes this authority in a distributed manner; Decentralized merchants decide how to issue BT, instead of the platforms.

All businesses follow a certain standard to keep accounts, and the data is stored on all nodes. This is called mining of behavioural data at a commercial consensus level. It’s not a real machine node mining through a computational competition, but a self-incentive mechanism based on the contribution of user’s consumption behaviour data. If merchant A determines that a user’s consumer behaviour is worth a dollar, it will issue a BT worth a dollar. If merchant B feels this behaviour is worth two bucks, they can issue two BTs. The users decide which merchant to choose, and they benefit from this competitive environment.

Motivate data contribution

Fees paid by these data users (the SMEs/merchants in this case) are automatically rewarded (by the platform) to data sources (people like you and me) that contribute according to established standards, and serves to motivate data contribution, thereby forming a sustainable, ecological closed loop. The technical consensus of TOOL Global is called DS-PBFT (Delegated Stake- Practical Byzantine Fault Tolerance). It is a billing node voting method for polling and can reach a consensus with high efficiency. It can’t be completely distributed and decentralized like the POW mechanism, but it can achieve a certain degree of multi-centred effect. It can effectively reduce costs and resource waste while improving efficiency and data protection.

The above two consensus innovations are key breakthroughs in TOOL Global. Of course, in the TOOL ecosystem, there are many other functions such as smart contracts, AI modules for financial payments, and so on. IBD Technology will make hard efforts to create more functions that will enable SMEs to reduce their operating difficulties. In the near future, small and medium-sized enterprises and merchants in the TOOL ecosystem can achieve truly low-cost precision marketing.

For more information on TOOL Global, visit www.IBDT.io

An announcement by Alson Liu, at IBD Technology.

Disclaimer: This article is for information and entertainment purposes only and should never be construed as investment or trading advice. Bitcoin and other cryptocurrencies can be extremely volatile and you should always do your due diligence and research on the topic, utility, product or service and legal and regulatory requirements before deciding to invest. We do not take any responsibility for possible losses you may incur.



The post TOOL Global innovates a blockchain ecosystem for Big Data to power SMEs appeared first on CryptoCoins Zone.

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From today, the national Venezuelan Petro cryptocurrency will be officially exchanged for the value of a barrel of oil on the global markets – approximately $60 US dollars at the time of writing.

The first ever state-backed cryptocurrency: Petro (PTC)

Cryptocurrency adoption received a boost over the weekend, following the progression of President Maduro’s plan to peg the Venezuelan national currency’s exchange rate to the sovereign cryptocurrency Petro (PTR). As per the white paper issued by the Venezuelan government, “each Petro will be backed by a barrel of oil and will be sold at the same price.”

The current price of a barrel of oil is around $60. On Friday (17th August), Venezuela’s President had announced that that one Petro (PTR) would equal $60 after the redenomination planned for today.

1 Petro = 1 Oil Barrel = 60 Dollars

Today, Venezuelan banks will be closed to prepare for the release of the freshly printed, Petro pegged “sovereign bolívar”. In effect, this deletes five zeroes from the Venezuelan national currency devaluing it by 96 per cent.

Yesterday 1 bitcoin was worth 44 billion bolivars, now it's at 59 billion.

$1 = 6.7 million bolivars yesterday, now it's at 9.2 million in less than 24 hours.

— EduardoGómez (@Codiox) August 18, 2018

The South American country has been suffering extreme hyperinflation and international sanctions for its “unconstitutional” and “undemocratic behaviour”. According to the Guardian, inflation is so high that in Venezuela a chicken costs over 14 million (pre-Petro) bolivars.

In a bid to overcome US and EU sanctions, the Venezuelan government has outlined in its white paper, that the strategy “will foster the emergence of a fairer, more collaborative global financial system that is conducive to growth, autonomy and trade among developing economies..”

Trump ban on Venezuelan cryptocurrency

It is not at all yet clear whether Venezuela’s bold national Petro cryptocurrency adoption is going to be successful at tackling inflation or international sanctions, given that the US President Donald Trump banned American use of Venezuelan cryptocurrency in its latest sanctions against Maduro’s government, citing the Independent.

The cryptocurrency community on Petro

The cryptocurrency community itself is not impressed with Petro (PTR). Rating website ICOindex.com giving the token a “scam status,” saying the project was missing critical information, from the description of the mechanism to its technology and supposed oil-backing. And also, but even more importantly it is centralised ie governed by the Venezuelan state. The cryptocurrency community is mainly interested in decentralised projects.

CryptoCoinsZone wishes the Venezuelan people a fast recovery from this economic turmoil and unrestricted access to the whole cryptocurrency market.

Disclaimer: This article is for information and entertainment purposes only and should never be construed as investment or trading advice. Bitcoin and other cryptocurrencies can be extremely volatile and you should always do your due diligence and research on the topic, utility, product or service and legal and regulatory requirements before deciding to invest. We do not take any responsibility for possible losses you may incur.



The post Venezuela goes “all-in” on state-backed Petro cryptocurrency appeared first on CryptoCoins Zone.

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Bitcoin’s (BTC) is still holding above $6,000, which has increased the chance of a bitcoin market reversal, technical studies indicate.

At the time of writing, the Bitcoin (BTC) spot price is at $6,352 on the Bitstamp exchange. Bitcoin has held its support at around the $6,000 price mark for the fourth time over the last seven months.

Tradingview Chart – BTC/USD Bitstamp

BTC was expected to drop below $6,000 over the last week as the bears were on the offensive to try and create a “lower low” in order to continue the overall bearish trend.

Are the bitcoin bulls back?

Whilst it is too early to call a bullish trend reversal, the fourth confirmation of a strong $6,000 support level for BTC has saved the week for the bulls. It seems more likely now, that $6,000 is realistically the “bottom” for Bitcoin.

Tradingview Chart – BTC/USD Bitstamp

From a bearish perspective, a failure to produce a significant move higher, and particularly a move above the bearish resistance line at around $7,000, could signify a fifth testing of the $6,000 support level. The downside move will likely gather pace if BTC fails to hold above $6,000 over the next days and weeks.

Will the bitcoin bears take control? Tradingview Chart – BTC/USD Bitstamp – SMA’s

Also in the bears’ favour are currently three important indicators. The 21, 50 and 100-day simple moving averages (SMA’s), which will provide further support to the $7,000 resistance level. Bitcoin (BTC) is going to need high volume and momentum to be able to break this price barrier and look to test the 200-day SMA at around $8,000 again. 

CryptoCoins Zone will continue to monitor the BTC Price Chart for further indicators either to the upside or the downside, but for the time being, based on the above technical analysis it is still too early to make a call for a bullish bitcoin trend reversal. 

Disclaimer: This article is for information and entertainment purposes only and should never be construed as investment or trading advice. Bitcoin and other cryptocurrencies can be extremely volatile and you should always do your due diligence and research on the topic, utility, product or service and legal and regulatory requirements before deciding to invest. We do not take any responsibility for possible losses you may incur.



The post Are we heading for a bullish Bitcoin market reversal? appeared first on CryptoCoins Zone.

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