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Bitcoin Cash ABC Price Analysis: BCH Rebounds At Strong Support – Back Above $400 Soon?

Bitcoin Cash may have seen a sharp price decline of 11% over the past 7 trading days, dragging the current price down to around $392, but the cryptocurrency is still up by 34% over the past 30 days with a further price explosion of 199% over the past 3 months. Bitcoin Cash has been on a magnificent bullish run which has now allowed it to climb to the 4th place amongst the top cryptocurrencies by market cap value. Its total capitalization is currently $7.04 billion. The cryptocurrency had managed to surge to a high above $480 during May 2019 but it has since fallen to where it currently trades at around $392. Looking at the BCH/USD 1-Day Chart: Against the US Dollar, we can see that Bitcoin Cash has fallen from the May 2018 highs and is now currently trading at support around the $382 level, provided by a short term .382 Fibonacci Retracement level (marked in green). From above: The nearest level of resistance now lies between $420 and $423. The resistance at $423 is provided by a long term bearish .618 Fibonacci Retracement level (marked in red) measured from the November 2018 high to the December 2018 low. If buyers continue to climb above the resistance at $432 and $450,  further resistance is then expected at $472 and $500. Above $500, higher resistance lies at $517 (bearish .786 Fib Retracement) and $573 (bearish .886 Fib Retracement). The final level of resistance to highlight the above lies at the November 2018 high at around $628. From below: The nearest level of support now lies at $382. Beneath this, further support can be found at $353 which is strengthened by the 50 days EMA and short term .5 Fibonacci Retracement. Beneath $350, further support lies at $324, $300 and $293 (which contains the 100 days EMA and 200 days EMA). The trading volume has been decreasing aggressively during mid-May 2019 but has started to show some signs of increasing in June 2019. The RSI has recently slipped beneath the 50 level which indicates that the sellers are in control of the market momentum. However, the Stochastic RSI is currently trading in extreme oversold conditions which suggests that this current period of selling should not last much longer as we look for a crossover above to send a bullish signal to traders. The post Bitcoin Cash ABC Price Analysis: BCH Rebounds At Strong Support – Back Above $400 Soon? appeared first on CryptoPotato.
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Knowing the developers: an analysis of Bitcoin ABC and Bitcoin Unlimited

As part of knowing the developers, we will be taking a look at Bitcoin Cash and its two most popular repositories, Bitcoin ABC and Bitcoin Unlimited. This is the first cryptocurrency we will be looking at that is a fork of Bitcoin (BTC). In August of 2017, conflict grew over increasing the “block size” of the network. This would have raised the maximum number of transactions a single block could contain. Despite consensus and concerns, some developers decided to move forward and increase the block size themselves, thus creating an entirely new network, Bitcoin Cash. When looking at the number of contributors or commits, it is important to note because a fork like Bitcoin Cash will share the same history in its source code up until the point the two split off, and as result Bitcoin’s commit history also ends up on Bitcoin Cash’s repository. Join Genesis now and continue reading, Knowing the developers: an analysis of Bitcoin ABC and Bitcoin Unlimited!
The Block Crypto

Bitcoin Cash ABC Miners Did Not “Take Over” the Protocol

For some reason, CoinDesk and other publications have taken to publishing the narrative that Bitcoin Cash leveled a “51% attack” on its own chain. Here is one of the articles in question for reference. It is alleged that two mining pools (BTC.com and BTC.top) both carried out the ‘attack’ in concert in order to prevent […]
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SBI President: “I was About to Promote Bitcoin Cash but Bitcoin ABC and SV happened”

The president of Japanese financial giants, SBI, Yoshitaka Kitao has revealed that he intended to promote Bitcoin Cash. However, he did not proceed with the plan due to a contentious hard fork that split the Bitcoin Cash into Bitcoin ABC and Bitcoin SV. He was candid admitting that “he is not a fan of cryptocurrencies that regularly forks”. In the discussion, Kitao says:  “Coins that frequently hard fork are ridiculous. I was going to promote BCH, but Jihan and Craig ended up fighting, and ABC and SV were born. Jihan side won and inherited the name BCH, but I decided to quit both. This caused the market cap for both coins to fall.” Yoshitaka was straight forward, saying that he would have promoted the coin before Nov-2018 hard fork but the rift between Jihan Wu–the former CEO of Bitmain, and Craig Wright, the self-proclaimed Satoshi Nakamoto, changed his mind. With the misunderstanding between the two leading to the creation of Bitcoin SV, Kitao said he decided to quit both coins. And he was right, because after the split, the space went on a death spiral with Bitcoin Cash sinking 50 percent and at some point trading at parity with Bitcoin SV. Right. In an instant the doubles the supply but not the resources to develop and work on actual use case. So what’s the value? They think it’s like 2/1 stock split. But that scenario is only worthwhile when a company has the fundamentals. BCH does not, not with morons in charge.— Ripple Rob (@RobRipple) April 27, 2019 So far, the controversy surrounding Craig Wright and Calvin Ayre has seen Bitcoin SV removed from some cryptocurrency exchanges like Kraken, Binance, and ShapeShift. Nonetheless, Craig Wright continues to claim he is the real Satoshi Nakamoto, the anonymous inventor of Bitcoin–who for some reason John McAfee says he can out him. Even though he is adamant, he is yet to provide evidence to support his assertion and because of this he is often labelled a fraud–or faketoshi. SBI Role in Crypto SBI Holdings is a big crypto player, driving adoption in Japan, a country that is open towards technology, protecting consumers but at the same time drawing revenue from an industry projected to print multi-trillion capitalization in the next few years. Yoshitaka is the brains behind SBI Holding and after forming the firm in 1999, the company delved into crypto and in June last year, launched its cryptocurrency exchange dubbed VCTrade. Starting NOW. SBI Virtual Currency (VC Trade) Website "acceptance of new account opening application", Age 20-70 years old can open an account and start trading. Go Go Go!#XRP #Ripple #xrpthestandard #XRPCommunity #xrpnews #SBIVC https://t.co/lHWBDlaYGG— CryptoEri (@sentosumosaba) July 17, 2018 Even so, SBI is an ardent supporter of Ripple (XRP) as they believe that its large customer base across the globe would accept XRP with Ripple bridging the gap between financial institutions and blockchain companies. To that end, SBI leverages Ripple’s technologies and XRP to carry out cross-border transactions at a faster and cheaper rate. Last month, the company revealed that it has put together a new subsidiary that would manufacture crypto mining chips and systems. The firm called SBI Mining Chip Co. (SBIMC) is part of the company’s efforts to boost its digital-related ventures. The post SBI President: “I was About to Promote Bitcoin Cash but Bitcoin ABC and SV happened” appeared first on Ethereum World News.
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OKEx’s Token Will See 17x Growth in Price, Blockchain Investment Firm Forecasts

The recent popularity Initial Exchange Offerings (IEO) have been experiencing over the last few months has brought what it appears to be like a new bull run. An incredible example of success is the OKB token issued by OKEx, one of the largest cryptocurrency exchanges by trading volume in the world, which has impressed the market beyond expectations having experienced an increase in the price of 163% since launched. Shinobi Capital, a leading blockchain advisory firm and also an investor in early-stage start-ups, has released its latest evaluation report estimating that the OKB price will grow further to US$30.75, 17 times the current price, by the end of 2020. According to Jason Hill, the founding partner of Shinobi Capital:  Exchanges tokens will be the powerhouse of the development of the digital asset market and even blockchain technology. Following a series of IEOs powered by exchange tokens in H1 2019, the market is marching to the next round of bull run. OKB, as a market leader of exchange tokens, is also welcoming its own uptrend. Backed by a number of use cases and a large user base of OKEx, OKB has demonstrated a huge potential of growth. The established blockchain and cryptocurrency advisory firm is well-known for its extensive experience in start-up investment. In their evaluation report of OKB, Shinobi Capital lays out the two most important factors that will affect OKB’s future trading volume, the development of the OKChain mainnet and the overall the crypto market condition. Furthermore, the report also establishes a comparative evaluation model with other major platform tokens, including Binance Coin (BNB), EOS, and TRON (TRX). This comparative evaluation studies different aspects of each token such as trading volume, price patterns, and usage demand. The latest OKB buy-back & burn program is also taken into account to evaluate the token’s future price trend. It is expected that by the end of 2020, the price of OKB will reach USD30.75 and its market capitalization will be about USD7.068 billion. There is a significant growth lag in OKB at this stage, and the potential of price growth needs to be further released. In the next round of market recovery and boom, OKB is likely to become one of the fastest-growing assets in the market. Disclosure: This is a sponsored press release The post OKEx’s Token Will See 17x Growth in Price, Blockchain Investment Firm Forecasts appeared first on NullTX.
NullTX

Ethereum Classic presents roadmap to improve DApp development and overall infrastructure

Experts of the cryptospace are making use of DApp services to simplify the entire blockchain process. Along these lines, Ethereum Classic’s [ETC] core development team has put forth an initiative to revamp its existing ecosystem. Moving forward with an aspiration for refinement, ETC’s team is developing fresh features over blockchain technology, a development that will […] The post Ethereum Classic presents roadmap to improve DApp development and overall infrastructure appeared first on AMBCrypto.
AMBCrypto

David Marcus Grilled During Facebook's Senate Hearing

During the first of two congressional hearings regarding Facebook's Libra cryptocurrency, project lead David Marcus went as far as to say he'd be willing to take his salary in Libra after intense grilling from Senator Sherrod Brown.
Ethereum News

David Marcus Questioned Over Libra by Congress

Facebook is finally facing its reckoning as David Marcus, head of the company’s blockchain division and the leader of Libra, the venture’s new cryptocurrency, was grilled by Senate members who refuse to believe in Facebook’s allegedly noble financial plans. Libra: A Congressional Issue? Many people have a hard time believing in Facebook’s morality following the Cambridge Analytica scandal. Discovered in 2018, Facebook had allegedly been selling users’ private data for years to third parties for advertising purposes. Following Mark Zuckerberg’s Senate hearing last year, trust in Facebook has fallen to an all-time low. In many ways, this new “congressional step” for the social media conglomerate should serve as a huge learning experience. When you’re a company of Facebook’s size and you do anything to compromise the safety or privacy of your customers, you can bet it’s going to take a long time to earn their trust back. Facebook is learning this lesson in spades right now, as several Senators taking part in the hearing commented about the lack of trust they feel towards the company and its executive team. Sherrod Brown, a Democrat from the state of Ohio, commented:  Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust. We’d be crazy to give them a chance to let them experiment with people’s bank accounts. Senator Martha McSally, a Republican from Arizona, stated that Facebook is simply trying to shift gears and get people to focus on something else entirely, in this case cryptocurrency. Rather than seriously attempt to fix its reputation, it’s working to divert people’s attention with an entirely new product. She says: I don’t trust you guys. Instead of cleaning up your house, you are launching into a new business model. In addition, Facebook is also being criticized for its complete lack of coordination with policymakers. Throughout the early development of Libra, Facebook’s executive team failed to make any contacts with regulators or legal authorities to potentially understand how the cryptocurrency could better satisfy present financial laws and terms.  Trust Takes a Long Time to Build At least David Marcus isn’t lying to himself. He acknowledged during the hearing that it would likely take a while before the company can earn people’s trust well enough that they would provide their banking details. He states:  I want to make it clear that we are only at the beginning of the journey. We expect the review of Libra to be one of the most extensive ever. Facebook will not offer the Libra currency until we have addressed the concerns and receive appropriate approvals… We will not control Libra and will be one of over 100 participants that will govern over the currency. We will have to gain people’s trust if we want people to use our network over the hundreds of competing companies. The post David Marcus Questioned Over Libra by Congress appeared first on Live Bitcoin News.
Live Bitcoin News

Waves CEO Has Sold His Stake At Vostok, A Waves Blockchain Affiliated Project

Alexander Ivanov, the founder, and CEO of Waves has recently decided to fully sell his stake of Vostok, blockchain spin-off of the Waves platform. According to a recent press release, now only the GHP Group, which bought all the stakes, will be the owner of the project. The CEO also affirmed on the press release that […]
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