Markets

The application for the blockchain ETF was accepted by the CSRC on Tuesday, December 24. It was filed by Penghua Fund, an asset management company based in China’s Shenzhen city. While it is currently unclear how long is required before a response, the Chinese blockchain community seems to be carefully watching.First Blockchain ETF In ChinaThe product has been named the Penghua Shenzhen Stocks Blockchain ETF. Penghua intends for the ETF to track and mirror all blockchain firms with public...

There was some good news since our previous weekend price analysis, as Bitcoin returned to retesting the higher descending angle of the bearish triangle.However, yesterday we saw another fake-out when Bitcoin quickly turned down back under the confluence price area.A new weekend starts today, not a regular one since many traders are still on their vacation. The ones that are trading are not many, as the trading volume levels are close to the month’s low.The new week brings the usual Monday...

Stellar lumen price is currently consolidating above the $0.0450 support area against the US Dollar.XLM price might start a decent increase if it clears the $0.0480 and $0.0500 resistance levels.There is a key bearish trend line forming with resistance near $0.0465 on the 4-hours chart (data feed via Kraken).The pair seems to be forming a strong support base near $0.0450 and $0.0435.Stellar lumen price is sowing positive signs against the US Dollar, while bitcoin is climbing higher. XLM is...

Ripple price is showing positive signs above the $0.1900 level against the US dollar.The price must gain momentum above $0.2000 to start a strong rally.There was a break above a key bearish trend line with resistance near $0.1945 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).The pair remains well bid near $0.1910 and it seems to be setting up for a large rally.Ripple price is trading within a broad range below $0.2000 against the US Dollar. XRP price is likely to surge...

Novogratz is a fan of making Twitter predictions. This time, he thinks that Donald Trump will lose the Presidential elections. His competitor, according to Novogratz, will have 10 million votes more. One of the subscribers made a bet that this will not happen, placing 1 ETH and Novogratz accepted the deal.However, when it comes to Tom Hanks, Novogratz thinks that no other actors can dive into the Process as precisely as he can. Regarding “A Beautiful Day in the Neighborhood”, he thinks that...

South Korean National Tax Service sent Bithumb a letter claiming they will need to pay additional taxes for the 2019 fiscal year. The agency claims that the tax is legal because the exchange forgot to pay the taxes from withdrawals that the exchange is constantly processing for customers from abroad.Doo Wan Nam, MakerDAO Business Development Associate says that Bithumb had a net loss of $180 million in 2018, considering the data given by Korea Times. This means that regulators are taking the...

Another analyst is claiming that the upcoming bitcoin halving – scheduled for May 14, 2020 – will have no effect on bitcoin’s price. The analyst this time is Meltem Demirors, the chief strategy officer of Coin Shares – a firm that manages digital assets.Demirors: The Halving Isn’t Likely to Do MuchIn a series of tweets, Demirors claims that the upcoming halving isn’t likely to boost bitcoin’s price or influence it positively. She lists up to five reasons why. For the first, she claims:There...

Over the past three days, despite that most of the traders are off on vacation, we could see a nonsense trading around the $7200 BTC mark.The following daily chart tells the short-term story: throughout the month of December, Bitcoin can’t get over the green resistance line – including the latest tryout two days ago at $7430.From below, despite one fake-out which got quickly corrected, the yellow ascending trend-line is supporting Bitcoin since April 2019. The last attempt of the line took...

No doubt Ethereum (ETH) is a hardcore crypto asset that’s not to be messed with. It’s the second-largest cryptocurrency by market cap, and it holds its ground over the likes of Ripple (XRP), bitcoin cash (BCH), EOS (EOS) and Litecoin (LTC).Ethereum Still Has Some IssuesBut even top products and companies appear to suffer from time to time, and Ethereum is no exception. The company recently announced that it was having to cancel out several jobs in both the Philippines and India. While it’s...

The last week of 2019 didn’t really bring a lot of excitement within the cryptocurrency market. Bitcoin’s price remained trapped within a fairly narrow range between $7,100 and $7,700, while altcoins struggled to claim any new grounds. As a matter of fact, Bitcoin’s dominance stabilized well above 68%, which showed that BTC kept its market share intact, despite the lack of any price increases. Despite the fact that Christmas is over, it’s important to monitor the price going forward. It’s...