Jul 08, 2020 at 11:43 // News

Bitcoin Cash has made a surprise move in the last 48 hours to reach the $245 high. For the past week, sellers have pushed the coin to a low of $205. The bulls responded immediately and corrected upward above $220.

For about a week BCH has been consolidating above the $220 support to break into the previous highs. Eventually, BCH rebounded above $220 to reach a high of $245. The price made a pullback.

In the meantime, the bulls are struggling above the $240 resistance to push price to the previous high. The current uptrend can be sustained if BCH finds support above $240 and rebounds. A second rebound will propel price to break the $260 resistance and the momentum will extend to retest the $281 overhead resistance. At the time of writing, the bulls and bears are struggling above the $240 price level.

BCH upward move is likely as the price breaks the 12-day EMA and the 26-day EMA. The coin is likely to rise as it is in the bullish trend zone. The crypto is also in a bullish momentum as it is above the 70 % range of the daily stochastic. However, the market is approaching the overbought region. In the overbought region, BCH may resume a downward move.

Key Resistance Zones: $440, $480, $520

Key Support Zones: $200, $160, $120

The recent rebound has indicated that the downtrend is over. The bulls have to jump over the hurdles at $260 and $270 before overcoming the overhead resistance at $281. BCH is still fluctuating above the $240 resistance. It will rise if the current momentum is sustained above $240 price level.

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.

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Bitcoin Cash Struggles to Sustain Above $240 High, May Soon Reach Overbought Region at $250 - Coin Idol

Bitcoin, BTC to USD, rose by 0.60% on Friday. Following a 2.32% slide on Thursday, Bitcoin ended the day at $9,304.6.

It was a bearish start to the day for Bitcoin. Bitcoin fell to an early morning intraday low $9,133.1 before finding support.

Finding support at the first major support level at $9,132.03, Bitcoin rallied to a late intraday high $9,324.6.

In spite of the late recovery, Bitcoin fell well short of the first major resistance level at $9,407.73.

The late recovery, however, saw Bitcoin wrap up the day in positive territory.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

Across the rest of the majors, it was a mixed day on Friday.

Binance Coin (+2.73%), Bitcoin Cash ABC (+1.00%), Moneros XMR (+0.25%), and Tezos (+0.34%) bucked the trend on the day.

It was a bearish day for the rest of the majors.

Cardanos ADA led the way down, with a loss of 4.63%.

Bitcoin Cash SV (-2.00%), XRP (-1.69%) Stellars Lumen (-0.99%), and Trons TRX (-2.02%) also struggled.

EOS (-0.72%), Ethereum (-0.33%), and Litecoin (-0.02%) saw relatively modest losses on the day.

In the current week, the crypto total market cap rose from a Monday low $254.55bn to a Wednesday high $274.58bn. At the time of writing, the total market cap stood at $267.03bn.

Bitcoins dominance fell from a Monday high 65.58% to a Thursday low 63.55%. At the time of writing, Bitcoins dominance stood at 64.05%.

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The Crypto Daily Movers and Shakers July 11th, 2020 - FX Empire

Bitcoin cash price is correcting gains from the $245 hurdle against the US Dollar. BCH/USD is likely to bounce back as long as it is above the $230 support zone.

Earlier this week, bitcoin cash price started a fresh increase above the $225 and $230 resistance levels against the US Dollar. BCH price even settled above the $230 level and the 55 simple moving average (4-hours).

Finally, the price spiked above the $240 level and it is currently facing a strong resistance near the $245 level. A high is formed near the $245 level and the price is currently correcting lower.

There was a break below the $240 level, plus the 23.6% Fib retracement level of the recent increase from the $215 swing low to $245 high. The price is now trading below the $236 level and it is approaching the main $230 support zone.

There is a major bullish trend line forming with support near $230 on the 4-hours chart of the BCH/USD pair. The trend line is close to the 50% Fib retracement level of the recent increase from the $215 swing low to $245 high.

More importantly, the 55 simple moving average (4-hours) is also near the trend line support at $230. If bitcoin cash price fails to stay above the trend line support and $230, there is a risk of a nasty decline in the coming sessions.

Conversely, the price might bounce back above the $240 and $242 levels. The main resistance is near the $245 level. A successful close above the $245 level might trigger a sharp rally towards $255 and $260.

Bitcoin Cash Price

Looking at the chart, bitcoin cash price is correcting lower from the $245 barrier. It must stay above the $230 support to make another attempt to clear the $245 resistance.

4 hours MACD The MACD for BCH/USD is currently gaining momentum in the bearish zone.

4 hours RSI (Relative Strength Index) The RSI for BCH/USD is now below the 50 level.

Key Support Levels $230 and $215.

Key Resistance Levels $240 and $245.

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Bitcoin Cash Analysis: $230 Holds The Key But Can Bulls Clear $245? - Live Bitcoin News

This past week, bitcoin price failed to surpass the main USD 9,500 resistance region. As a result, there was a downside correction below USD 9,300 and USD 9,200. The price is currently trading in a range above USD 9,200 and it might attempt another upside break above the USD 9,500 resistance.

Similarly, most major altcoins are showing positive signs and trading above important supports, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD is currently (08:30 UTC) rising and trading near USD 242. XRP/USD is holding the USD 0.198 support and it might soon revisit the USD 0.205 resistance zone.

Total market capitalization

After a short-term downside correction, bitcoin price started a fresh recovery. BTC is showing positive signs and it is trading above the USD 9,200 level. An immediate resistance is near USD 9,300 and USD 9,320. The main weekly resistance is still near USD 9,500 and USD 9,550, above which the bulls might test the USD 10,000 level.If there is no upside break above USD 9,320 or USD 9,500 this week, there is a risk of a sharp decline below the USD 9,050 and USD 9,000 support levels.

Ethereum price is well above the USD 235 weekly support level. ETH is rising and trading near USD 242. An initial resistance is near the USD 245 level, but the crucial hurdle is still near USD 250.A successful close above the USD 250 will most likely clear the path for more upsides towards the USD 262 and USD 265 levels.

Bitcoin cash price failed to surpass the USD 245 resistance and corrected lower below USD 240. BCH is currently consolidating above USD 235 and it might slowly climb above USD 240. To start a strong increase, the price must surpass the USD 245 hurdle. If not, there is a risk of an extended declined towards the USD 220 support.ADA is gaining traction and it recently broke the USD 0.125 and USD 0.130 resistance levels. It seems like the price is likely to continue higher above the USD 0.135 level. The next major resistance on the upside is close to the USD 0.150 level. On the downside, there are decent supports forming near USD 0.128 and USD 0.125.XRP price tested the USD 0.212 resistance zone this past week before correcting lower. It is now consolidating near the USD 0.200 level, with many supports near USD 0.198 and USD 0.195. On the upside, a clear break above USD 0.205 could pump the price towards the USD 0.212 and USD 0.215 levels.

In the past three sessions, many small-capitalization altcoins rallied over 5%, including LINK, ERD, LRC, DIVI, RLC, FXC, BNT, RSR, XTZ, and ZEC. Out of these, LINK gained over 25% and it traded to a new all-time high above USD 8.00 before correcting lower.

To sum up, bitcoin price is trading above a couple of important supports near USD 9,100 and USD 9,000. As long as there is no close below USD 9,000, BTC might continue to rise towards USD 9,500 and USD 9,550 in the near term._____

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Bitcoin and Altcoins Hesitate Ahead of Next Move - Cryptonews

Bitcoin fell by 1.00% on Tuesday. Partially reversing a 2.99% gain from Monday, Bitcoin ended the day at $9,267.5.

It was a mixed start to the day for Bitcoin. Bitcoin rose to an early morning intraday high $9,389.4 before hitting reverse.

Falling well short of the first major resistance level at $9,475.2, Bitcoin slid to a late intraday low $9,211.1.

Steering clear of the first major support level at $9,161.4, Bitcoin moved back through to $9,260 levels to limit the loss on the day.

The near-term bullish trend remained intact in spite of the recent pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

Across the rest of the majors, it was a mixed day on Tuesday.

Cardanos ADA jumped by 11.78% to lead the way.

Binance Coin (+2.94%), Stellars Lumen (+2.76%), and Tezos (+2.71%) also bucked the trend on the day.

It was a bearish day for the rest of the majors, however.

Bitcoin Cash SV (-4.55%) and Trons TRX (-4.80%) led the way down.

Bitcoin Cash ABC (-1.28%), EOS (-2.14%), Ethereum (-0.97%), Litecoin (-1.54%), Moneros XMR (-0.68%) and Ripples XRP (-1.93%) also joined Bitcoin in the red.

In the current week, the crypto total market cap rose from a Monday low $254.54bn to Tuesday high $267.10bn. At the time of writing, the total market cap stood at $263.81bn.

Bitcoins dominance fell from a Monday high 65.58% to a Tuesday low 64.30%. At the time of writing, Bitcoins dominance stood at 64.58%.

At the time of writing, Bitcoin was down by 0.07% to $9,261.2. A bullish start to the day saw Bitcoin rise to an early morning high $9,278.6 to a low $9,256.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Cardanos ADA was on the move once more, rising by 1.20%, with BNB up by 0.23% at the time of writing.

It was a bearish start for the rest of the majors, however.

At the time of writing, Bitcoin Cash and Trons TRX were down by 1.07% and by 2.19% to lead the way down.

Bitcoin would need to move through the $9,290 pivot to support a run at the first major resistance level at $9,367.57.

Support from the broader market would be needed, however, for Bitcoin to break back through to $9,300 levels.

Barring an extended crypto rebound, the first major resistance level and Tuesdays high $9,389.4 would likely cap any upside.

In the event of a crypto breakout, Bitcoin should break through the second major resistance level at $9,467.63.

Failure to move through the $9,290 pivot level would bring the first major support level at $9,189.27 into play.

Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$9,100 levels. The second major resistance level at $9,111.03 would likely limit any downside.

This article was originally posted on FX Empire

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The Crypto Daily The Movers and Shakers July 8th, 2020 - Yahoo Finance

On July 4, 2020, the Bitcoin Cash proponent Cain published an interview with the blockchain developer, Shammah Chancellor, about a new project called Stamp Chat. At its basic level, Stamp is a prototype of a layer-2 private messaging and payment system on Bitcoin Cash. It implements stealth [plus] confidential transactions on top of Bitcoin Cash using layer-2 protocol technologies.

This week Bitcoin Cash supporters were introduced to a new interview about a tool called Stamp, an encrypted message and payment system that leverages the Bitcoin Cash (BCH) chain. Stamp was highlighted about a month earlier via a Bchignite.com livestream. The project is being developed by the software programmer Shammah Chancellor, otherwise known as @micropresident.

The project was introduced on Saturday, July 4, 2020, by the Bitcoin Cash proponent Cain (@bchcain) via the read.cash blog. Cain gives a summary of how governments today have the ability to censor our speech online, and our financial lives as well through centralized parties. The BCH enthusiast highlights how our freedom of expression is censored and monitored by the powers that be.

The fact that we are being monitored limits our freedom of thought and our freedom of expression, Cains interview stressed. You might think twice about entering something into a search engine, or posting something on Facebook or Twitter. This limits our ability to communicate and explore ideas, and this is why I am so excited by Stamp, the new Bitcoin Cash project being developed by Shammah Chancellor, aka @micropresident.

Cains post further added:

Stamp is still in its early stages and only available on testnet, but the interface already looks polished and many features like group chats and nested messages have already been deployed. According to his Github page: Stamp is a prototype of a layer-2 private messaging and payment system on Bitcoin Cash. It implements stealth [plus] confidential transactions on top of Bitcoin Cash using layer-2 protocol technologies.

Individuals who are interested in Stamp can check out the Github repository and get more familiar with the project. The Github repos disclaimer is a touch different and states: Stamp is in early alpha development stage. There will be multiple breaking changes from now until a stable release. We default to the Bitcoin Cash testnet as to protect against lost funds.

Those who are interested in testing the Stamp protocol can do so by accessing the cashweb/stamp/releases section and grabbing test coins from faucet.fullstack.cash.

The Stamp developers who contribute to the project also have a Telegram chat channel as well for people who want to learn more about the project. Shammah Chancellor also describes the Stamp project in great detail during his interview with Cain.

Stamp is the name of the wallet that uses a number of backend protocols, the developer explained. These protocols are a suite called Cashweb, with the vision being that everything online is powered by Bitcoin Cash. Fundamentally, Cashweb is powered via standard web technologies: Websockets, JWT tokens, HTTP/2. The idea being to make it easy for non-cryptocurrency developers to integrate with.

Cashweb is a [three] tier network, Shammah Chancellor continued. The first tier being Bitcoin Cash. The second tier is a keyserver network, which is used to look up, in a cryptographically secure way, important information about a Bitcoin Cash address. The third tier is a messaging system (called relay servers) which allows wallets to pass, encrypted, structured messages between them. The developer concluded:

When you add a contact to a Stamp wallet, it reaches out to a keyserver and requests your contact information. This is then verified, and used to determine which relay server they accept messages on. Once your wallet has this information, it can start exchanging structured, encrypted, messages between itself and another user.

Cryptocurrency supporters who are interested in reading the rest of the interview between Cain and Shammah Chancellor can follow this link here that stems from the read.cash blog.

On the Reddit forum r/btc, BCH proponents seemed pleased with the announcement and some people contributed to the development funding. Looks promising, an individual wrote on Reddit. I sent a bit of funding. Good luck with it.

What do you think about the Stamp project built on the Bitcoin Cash network? Let us know what you think about this subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Stamp, Read.cash, Cain

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Developer Reveals Layer-Two Private Messaging and Payment System on Bitcoin Cash | Technology - Bitcoin News

Every investor should build a balanced portfolio containing different assets classes, but I think you should use most of your long-term wealth to buy bargain FTSE 100 shares.

I would keep only a small proportion of my wealth in rival assets such as Cash ISAs, Bitcoin, and gold. History shows that stock markets beat almost every rival over the long run. If you want to get rich and retire early, this is where Id start.

When you buy equities, you are investing in real life companies that produce goods and services people need and want to buy. After the Covid-19 crash, many of these companies are in trouble. Others are genuine FTSE 100 bargains, good companies whose share prices have plunged along with the bad. This is where your opportunities lie right now.

You arent investing in the real world when you trade Bitcoin.The virtual currency has almost no practical uses. Primarily, it is a speculative tool to keep day traders amused. Until they start losing real money, that is. Then its not so amusing.

Crypto-currencies are a play on volatility. Spot markets can be volatile too, but you can make that work in your favour. At the Motley Fool, we urge investors to buy FTSE 100 shares when they are trading at bargain prices, say, after a stock market crash. If you plan to hold them for the long term, you will benefit when markets recover, as they always do in the longer run.

Cash is a safe haven from volatility, but theres a catch. Easy access savings accounts destroy the value of your money. They now pay just 0.25% on average, half todays inflation rate. It means your money is eroding in real terms.

Everybody needs a bit of cash on easy access for emergencies, but your the money you are building into long-term wealth should go into equities. Id start by buying FTSE 100 shares, which are particularly attractive when available at bargain prices, like today.

The stock market crash in March saw another rush into gold as a store of value. As I write this, the gold price stands at just over $1,800 an ounce, a level last seen in 2012. If it rises much more, it could top its all-time high.

I have a natural aversion to investing at the top of the market. You have missed most of the gains, and are vulnerable to a crash.

That is why Im favouring bargain FTSE 100 shares right now. Despite the recovery, they are still down 20% from their pre-pandemic highs. If we get another crash, my advice would be the same, buy more shares at the new, lower price. Then hold them for the long term, and reinvest your dividends for growth.

You can reduce the risk by targeting companies with strong balance sheets, steady revenues, minimal debts, and strong competitive moats against rival firms. Many still pay attractive dividend yields, something you wont get from Bitcoin or gold.

Thats why my money is going into bargain FTSE 100 shares today.

The post Forget Cash ISAs, Bitcoin and gold. Id buy bargain FTSE 100 shares to get rich and retire early appeared first on The Motley Fool UK.

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Harvey Jones has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Motley Fool UK 2020

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Forget Cash ISAs, Bitcoin and gold. I'd buy bargain FTSE 100 shares to get rich and retire early - Yahoo Finance UK

Bitcoin, BTC to USD, slid by 2.32% on Thursday. Reversing a 1.94% gain from Wednesday, Bitcoin ended the day at $9,248.9.

It was a bearish start to the day for Bitcoin. Bitcoin fell from an early morning intraday high $9,451.7 to a late morning low $9,374.0 before finding support.

Steering clear of the first major support level at $9,302.93, Bitcoin recovered to $9,440 levels before hitting reverse.

Continuing to fall well short of the major resistance levels, Bitcoin fell to a mid-afternoon intraday low $9,175.0.

Bitcoin fell through the first major support level at $9,302.93 before finding support.

Steering clear of the second major support level at $9,158.87, Bitcoin moved back through to $9,200 levels.

The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

Across the rest of the majors, it was a mixed day on Thursday.

Moneros XMR (+1.87%), Stellars Lumen (+6.11%), and Trons TRX (+3.41%) bucked the trend on the day.

It was a bearish day for the rest of the majors.

Tezos led the way down, with a loss of 4.62%.

Binance Coin (-2.60%), Bitcoin Cash ABC (-1.84%), Bitcoin Cash SV (-1.44%), Ethereum (-2.07%), Litecoin (-2.25%) also struggled.

Cardanos ADA (-0.81%), EOS (-1.15%), and Ripples XRP (-1.13%) saw a relatively modest loss on the day.

In the current week, the crypto total market cap rose from a Monday low $254.55bn to a Wednesday high $274.58bn. At the time of writing, the total market cap stood at $265.78bn.

Bitcoins dominance fell from a Monday high 65.58% to a Thursday low 63.55%. At the time of writing, Bitcoins dominance stood at 63.93%.

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The Crypto Daily - The Movers and Shakers - July 10th, 2020 - FX Empire

Bitcoin Cash 4 Hour Price Update

Updated July 10, 2020 07:19 AM GMT (03:19 AM EST)

Bitcoin Cash came into the current 4 hour candle down 1.41% ($3.33) from the open of the last 4 hour candle, marking the 2nd candle in a row it has gone down. Out of the 5 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 4th for the four-hour candle in terms of price change relative to the last 4 hour candle.

238.14 (USD) was the opening price of the day for Bitcoin Cash, resulting in the day prior being one in which price moved down 2.14% ($5.22) from the day prior. The change in price came along side change in volume that was down 6.88% from previous day, but up 38.65% from the Thursday of last week. Those trading within the Top Cryptos asset class should know that Bitcoin Cash was the worst performer in the class during the day prior. Here is a daily price chart of Bitcoin Cash.

Notably, Bitcoin Cash crossed below its 100 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 30 days Bitcoin Cashs price has gone down 18 them.

For laughs, fights, or genuinely useful information, lets see what the most popular tweets pertaining to Bitcoin Cash for the past day were:

@vinarmani How feasible would it be for a bunch of libertarians to turn Saipan into a Bitcoin Cash island? (Or USDH island)

#how to invest in bitcoin cash how do bitcoin paper wallets work

Bitcoin Cash BCH Current Price:$243.311 Hour: -0.11 % | 24 Hours: 1.16 % | 7 Days: 8.52 %#bch #bitcoin cash

As for a news story related to Bitcoin Cash getting some buzz:

Bitcoin Cash price analysis: range top may be tested

Bitcoin Cash price analysis shows that bulls could start to test towards the top of the BCH/USD pairs established trading range, around the $280 level.Bitcoin Cash technical analysis indicates that a rally towards the top of the cryptocurrencys trading range, around the $280 level, may be unfolding.

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Bitcoin Cash (BCH) Down $3.33 Over Past 4 Hours, Fares the Worst Out of Top Cryptos to Start the Day; But Still in an Uptrend Over Past 14 Days -...

Bitcoin fell by 0.68% on Sunday. Reversing a 0.57% gain from Saturday, Bitcoin ended the week down by 0.45% to $9,084.3.

It was a mixed start to the day for Bitcoin. Bitcoin rose to an early morning intraday high $9,152.3 before hitting reverse.

Falling well short of the first major resistance level at $9,214.47, Bitcoin slid to a late intraday low $8,918.0.

Bitcoin fell through the first major support level at $9,070.47 and the second major support level at $8,993.23.

Steering clear of the 23.6% FIB of $8,900, Bitcoin broke back through the support levels to wrap up the day at $9,080 levels.

The near-term bullish trend remained intact in spite of the recent pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

Across the rest of the majors, it was a bearish day on Sunday.

Cardanos ADA and EOS led the way down, sliding by 2.76% and by 2.10% respectively.

Bitcoin Cash SV (-1.53%), Litecoin (-1.31%), Moneros XMR (-1.22%), and Tezos (-1.77%) werent far behind.

Binance Coin (-0.51%), Bitcoin Cash ABC (-0.90%), Ethereum (-0.73%), Ripples XRP (-0.49%), Stellars Lumen (-0.95%), and Trons TRX (-0.79%) saw relatively modest losses.

For the week, it was a mixed bag for the majors.

Cardanos ADA surged by 22.38% to lead the way.

Stellars Lumen (+4.40%) and Trons TRX (+7.56%) also found strong support.

Binance Coin (+0.72%), Bitcoin Cash ABC (+0.16%), EOS (+1.82%), Ethereum (+1.21%), Litecoin (+0.60%), Moneros XMR (+0.14%), and Ripples XRP (+0.17%) saw modest gains.

Bitcoin Cash SV (-3.81%) and Tezos (-3.33%) bucked the trend for the week.

Through the week, the crypto total market cap rose to a Wednesday high $260.82bn before falling to a Thursday low $249.45bn. At the time of writing, the total market cap stood at $255.26bn.

Bitcoins dominance rose to a Monday high 66.29% before falling to a Sunday low 65.25%. At the time of writing, Bitcoins dominance stood at 65.44%.

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The Crypto Daily - The Movers and Shakers - July 6th, 2020 - FX Empire

Investors seeking to build a retirement nest egg to overcome a low State Pension may naturally seek assets other than the FTSE 100 after its recent market crash. The index has rebounded, but still trades significantly below its 2020 starting price.

However, the stock market could offer strong recovery potential over the coming years. Therefore, it may prove to be a superior means of building a retirement nest egg compared to buying Bitcoin or holding your capital in a Cash ISA.

The FTSE 100s track record shows that it has been an effective means of obtaining a retirement fund that can provide a passive income in older age. The index has gained around 8% per annum including dividends since its inception in 1984. Therefore, investing even modest amounts in a diverse range of large-cap shares has been a highly profitable strategy for anyone who has a long time horizon.

With the State Pension age set to rise and its payments currently amounting to around a third of the UKs average annual salary, large-cap shares offer the chance to reduce your reliance on the State Pension. Although in the short run events such as a market crash can cause the index to fall, it has always recovered from its various downturns over the years to post new record highs.

Other assets such as Bitcoin and Cash ISAs may hold greater appeal at the present time due to the FTSE 100 market crash. However, they may fail to provide a reliable means of generating a nest egg from which to draw an income in retirement.

Cash ISAs face what could be a considerable period of time with low returns. Interest rates could stay at low levels for many years due to the economic challenges faced following the coronavirus pandemic. This may even mean that Cash ISAs produce a negative return when inflation is factored-in. This could lower your spending power and make it more difficult to obtain a retirement portfolio that reduces your reliance on the State Pension when compared to buying FTSE 100 shares.

By contrast, Bitcoin has the capacity to make strong gains. Its price doubled following a decline in the earlier part of the year. However, its risks are also relatively high. Challenges such as regulatory concerns, competition from other virtual currencies and its lack of fundamentals could derail Bitcoins progress in the coming years. This may mean that it fails to produce a reliable return as per the 36-year track record of the FTSE 100.

Clearly, buying FTSE 100 shares today may not seem to be an attractive prospect due to the indexs recent decline. However, it is likely to recover, while its past performance suggests that it is set to remain an effective means of obtaining a passive income in retirement that reduces your dependence on the State Pension.

The post Forget Bitcoin and Cash ISAs! Id buy cheap FTSE 100 shares now to beat the State Pension appeared first on The Motley Fool UK.

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Peter Stephens has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Motley Fool UK 2020

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Forget Bitcoin and Cash ISAs! I'd buy cheap FTSE 100 shares now to beat the State Pension - Yahoo Finance UK

Bitcoin fell by 1.00% on Tuesday. Partially reversing a 2.99% gain from Monday, Bitcoin ended the day at $9,267.5.

It was a mixed start to the day for Bitcoin. Bitcoin rose to an early morning intraday high $9,389.4 before hitting reverse.

Falling well short of the first major resistance level at $9,475.2, Bitcoin slid to a late intraday low $9,211.1.

Steering clear of the first major support level at $9,161.4, Bitcoin moved back through to $9,260 levels to limit the loss on the day.

The near-term bullish trend remained intact in spite of the recent pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

Across the rest of the majors, it was a mixed day on Tuesday.

Cardanos ADA jumped by 11.78% to lead the way.

Binance Coin (+2.94%), Stellars Lumen (+2.76%), and Tezos (+2.71%) also bucked the trend on the day.

It was a bearish day for the rest of the majors, however.

Bitcoin Cash SV (-4.55%) and Trons TRX (-4.80%) led the way down.

Bitcoin Cash ABC (-1.28%), EOS (-2.14%), Ethereum (-0.97%), Litecoin (-1.54%), Moneros XMR (-0.68%) and Ripples XRP (-1.93%) also joined Bitcoin in the red.

In the current week, the crypto total market cap rose from a Monday low $254.54bn to Tuesday high $267.10bn. At the time of writing, the total market cap stood at $263.81bn.

Bitcoins dominance fell from a Monday high 65.58% to a Tuesday low 64.30%. At the time of writing, Bitcoins dominance stood at 64.58%.

Excerpt from:

The Crypto Daily - The Movers and Shakers - July 8th, 2020 - FX Empire

What is Bitcoin Cash?

Bitcoin cash is a cryptocurrency created in August 2017, from a fork of Bitcoin. Bitcoin Cash increases the size of blocks, allowing more transactions to be processed. The cryptocurrency underwent another fork in November 2018 and split into Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision). Bitcoin Cash is referred to as Bitcoin Cash because it uses the original Bitcoin Cash client.

The difference between Bitcoin and Bitcoin Cash is philosophical.

As proposed by Bitcoin inventor Satoshi Nakamoto, Bitcoin was meant to be a peer-to-peer cryptocurrency that was used for daily transactions. Over the years, as it gained mainstream traction and its price surged, Bitcoin became an investment vehicle instead of a currency. Its blockchain witnessed scalability issues because it could not handle the increased number of transactions. The confirmation time and fees for a transaction on bitcoins blockchain surged. This was mainly due to the 1MB block size limitation for bitcoin. Transactions queued up, waiting for confirmation, because blocks could not handle the increase in size for transactions.

Bitcoin Cash proposes to remedy the situation by increasing the size of blocks to between 8 MB and 32 MB, thereby enabling processing of more transactions per block. The average number of transactions per block on Bitcoin is between 1,000 and 1,500. The number of transactions on Bitcoin Cashs blockchain during a stress test in Sep 2018 surged to 25,000 per block.

Major proponents of Bitcoin Cash, such as Roger Ver, often invoke Nakamotos original vision of a payment service as reason to increase block size. According to them, the change in bitcoins block size will enable bitcoins use as a medium for daily transactions and help it compete with multinational credit card processing organizations, such as Visa, which charge high fees to process transactions across borders.

Bitcoin Cash also differs from bitcoin in another respect. It does not incorporate Segregated Witness (SegWit), another solution proposed to accommodate more transactions per block. SegWit retains only information or the metadata relating to a transaction in a block. Typically, all details pertaining to a transaction are stored in a block.

Ideological and block size differences apart, there are several similarities between Bitcoin and Bitcoin Cash. Both use the Proof of Work (PoW) consensus mechanism to mine new coins. They also share the services of Bitmain, the worlds biggest cryptocurrency miner. The supply of Bitcoin Cash is capped at 21 million, the same figure as Bitcoin. Bitcoin Cash also started off using the same difficulty algorithm - Emergency Difficulty Adjustment (EDA) which adjusts difficulty every 2016 blocks or roughly every two weeks. Miners took advantage of this similarity by alternating their mining activity between Bitcoin and Bitcoin Cash. While it was profitable for miners, the practice was detrimental to increasing supply of Bitcoin Cash in the markets. Hence, Bitcoin Cash has revised its EDA algorithm to make it easier for miners to generate the cryptocurrency.

In 2010, the average size of a block on Bitcoin's blockchain was less than 100 KB and the average fee for a transaction amounted to a couple of cents. This made its blockchain vulnerable to attacks, consisting entirely of cheap transactions, that could potentially cripple its system. To prevent such a situation, the size of a block on bitcoins blockchain was limited to 1 MB.Each block was generated every 10 minutes, allowing for space and time between successive transactions. The limitation on size and time required to generate a block added another layer of security on bitcoins blockchain.

But those safeguards proved to be a hindrance when bitcoin gained mainstream traction on the back of greater awareness of its potential and enhancements to its platform. The average size of a block had increased to 600K by Jan 2015. The number of transactions using Bitcoin surged, causing a buildup of unconfirmed transactions. The average time to confirm a transaction also moved upwards. Correspondingly, the fee for transaction confirmation also increased, weakening the argument for bitcoin as a competitor to expensive credit card processing systems. (Fees for transactions on bitcoins blockchain are specified by users. Miners typically push transactions with higher fees to the front of the queue in order to maximize profits.)

Two solutions were proposed by developers to solve the problem: increase the average block size or exclude certain parts of a transaction to fit more data into the blockchain. The Bitcoin Core team, which is responsible for developing and maintaining the algorithm that powers bitcoin, blocked the proposal to increase block size. Meanwhile, a new coin with flexible block size was created. But the new coin, which was called Bitcoin Unlimited, was hacked and struggled to gain traction, leading to doubts about its viability as a currency for daily transactions.

The first proposal also drew sharp and diverse reactions from the bitcoin community. Mining behemoth Bitmain was hesitant to support Segwit implementation in blocks because it would affect sales for its AsicBoost miner. The machine contained a patented mining technology that offered a shortcut for miners to generate hashes for crypto mining using less energy. However, Segwit makes it more expensive to mine Bitcoin using the machine because it makes transaction reordering difficult.

Amidst a war of words and staking out of positions by miners and other stakeholders within the cryptocurrency community, Bitcoin Cash was launched in July 2017. Each Bitcoin holder received an equivalent amount of Bitcoin Cash, thereby multiplying the number of coins in existence. Bitcoin Cash debuted on cryptocurrency exchanges at an impressive price of $900. Major cryptocurrency exchanges, such as Coinbase and Itbit, boycotted Bitcoin Cash and did not list it on their exchanges.

But it received vital support from Bitmain, the worlds biggest cryptocurrency mining platform. This ensured a supply of coins for trading at cryptocurrency exchanges, when Bitcoin Cash was launched. At the height of cryptocurrency mania, Bitcoin Cashs price skyrocketed to $4,091 in December 2017.

Paradoxically enough, Bitcoin Cash itself underwent a fork slightly more than a year later due to the same reason it split from Bitcoin. In Nov 2018, Bitcoin Cash split into Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision). This time around, the disagreement was due to proposed protocol updates that incorporated the use of smart contracts onto bitcoins blockchain and increased the average block size.

Bitcoin Cash ABC uses the original Bitcoin Cash client but has incorporated several changes to its blockchain, such as Canonical Transaction Ordering Route (CTOR) which rearrange transactions in a block to a specific order.

Bitcoin Cash SV is led by Craig Wright, who claims to be the original Nakamoto. He rejected the use of smart contracts on a platform that was meant for payment transactions. The drama prior to the latest hard fork was similar to the one before forking Bitcoin Cash from Bitcoin in 2017. But the end has been a happy one as more funds have flowed into the cryptocurrency ecosystem due to the forking and the number of coins available to investors has multiplied. Since launching, both cryptocurrencies have garnered respectable valuations at crypto exchanges.

Bitcoin Cash promised several improvements over its predecessor. But it has yet to deliver on those promises.

The most important one is regarding block size. The average size of blocks mined on Bitcoin Cashs blockchain is much smaller than those on Bitcoins blockchain. The smaller block size means that its main thesis of enabling more transactions through larger blocks is yet to be tested technically. Transaction fees for bitcoin have also dropped significantly, making it a viable competitor to bitcoin cash for daily use.

Other cryptocurrencies aspiring to similar ambitions of becoming a medium for daily transactions have added another wrinkle to Bitcoin Cashs original ambitions. They have staked out projects and partnerships with organizations and governments, at home and abroad. For example, Litecoin announced partnerships with event organizers and professional associations and others, such as Dash, claim to have already gained traction in troubled economies like Venezuela.

While its split from Bitcoin was fairly high-profile, Bitcoin Cash is mostly unknown outside the crypto community and is yet to make major announcements about adoption. Based on transaction levels on blockchain, Bitcoin still has a sizeable lead on its competition.

The second fork on Bitcoin Cashs blockchain also highlights problems with managing its developer pool. That a sizeable section of the pool thought that Bitcoin cash was diluting its original vision is troubling because it opens the door to further splits in the future. Smart contracts are an essential feature of all cryptocurrencies. However, it remains to be seen whether Bitcoin Cash pivots to become a platform for incorporating smart contract for transactions or simply for payment systems.

Bitcoin Cash also does not have a clearly-defined governance protocol. While other cryptocurrencies, such as Dash and Vechain, have innovated and outlined detailed governance protocols that assign voting rights, the development and design of Bitcoin Cash seems to be centralized with its development teams. As such, it is unclear with investors without substantial holdings of the cryptocurrency have voting rights or say in the cryptocurrency's future direction.

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Bitcoin Cash - Investopedia

Bitcoin vs. Bitcoin Cash: An Overview

Since its inception, there have been questions surrounding bitcoins ability to scale effectively. Transactions involving the digital currency bitcoin are processed, verified, and stored within a digital ledger known as a blockchain. Blockchain is a revolutionary ledger-recording technology. It makes ledgers far more difficult to manipulate because the reality of what has transpired is verified by majority rule, not by an individual actor. Additionally, this network is decentralized; it exists on computers all over the world.

The problem with blockchain technology in the Bitcoin network is that its slow, especially in comparison to banks that deal with credit card transactions. Popular credit card company Visa, Inc. (V), for instance, processes close to 150 million transactions per day, averaging roughly 1,700 transactions per second. The company's capability actually far surpasses that, at 65,000 transaction messages per second.

How many transactions can the bitcoin network process per second? Seven. Transactions can take several minutes or more to process. As the network of bitcoin users has grown, waiting times have become longer because there are more transactions to process without a change in the underlying technology that processes them.

Ongoing debates around bitcoins technology have been concerned with this central problem of scaling and increasing the speed of the transaction verification process. Developers and cryptocurrency miners have come up with two major solutions to this problem. The first involves making the amount of data that needs to be verified in each block smaller, thus creating transactions that are faster and cheaper, while the second requires making the blocks of data bigger, so that more information can be processed at one time. Bitcoin Cash (BCH) developed out of these solutions. Below, we'll take a closer look at how bitcoin and BCH differ from one another.

In July 2017, mining pools and companies representing roughly 80 percent to 90 percent of bitcoin computing power voted to incorporate a technology known as a segregated witness, called SegWit2x. SegWit2x makes the amount of data that needs to be verified in each block smaller by removing signature data from the block of data that needs to be processed in each transaction and having it attached in an extended block. Signature data has been estimated to account for up to 65 percent of data processed in each block, so this is not an insignificant technological shift. Talk of doubling the size of blocksfrom 1 MB to 2 MB ramped up in 2017 and 2018, and, as of February 2019, the average block size of bitcoin increased to 1.305 MB, surpassing previous records. By January 2020, however, block size has declined back toward 1 MB on average. The larger block size helps in terms of improving bitcoins scalability. In September 2017, research released by cryptocurrency exchange BitMex showed that SegWit implementation had helped increase the block size, amid a steady adoption rate for the technology.

Bitcoin Cash is a different story. Bitcoin Cash was started by bitcoin miners and developers equally concerned with the future of the cryptocurrency and its ability to scale effectively. However, these individuals had their reservations about the adoption of a segregated witness technology. They felt as though SegWit2x did not address the fundamental problem of scalability in a meaningful way, nor did it follow the roadmap initially outlined by Satoshi Nakamoto, the anonymous party that first proposed the blockchain technology behind cryptocurrency. Furthermore, the process of introducing SegWit2x as the road forward was anything but transparent, and there were concerns that its introduction undermined the decentralization and democratization of the currency.

In August 2017, some miners and developers initiated what is known as a hard fork, effectively creating a new currency: BCH. BCH has its own blockchain and specifications, including one very important distinction from bitcoin. BCH has implemented an increased block size of 8 MB to accelerate the verification process, with an adjustable level of difficulty to ensure the chains survival and transaction verification speed, regardless of the number of miners supporting it.

Bitcoin Cash is thus able to process transactions more quickly than the Bitcoin network, meaning that wait times are shorter and transaction processing fees tend to be lower. The Bitcoin Cash network can handle many more transactions per second than the Bitcoin network can. However, with the faster transaction verification time comes downsides as well. One potential issue with the larger block size associated with BCH is that security could be compromised relative to the Bitcoin network. Similarly, bitcoin remains the most popular cryptocurrency in the world as well as the largest by market cap, so users of BCH may find that liquidity and real-world usability is lower than for bitcoin.

The debate about scalability, transaction processing and blocks has continued beyond the fork which led to Bitcoin Cash. In November of 2018, for example, the Bitcoin Cash network experienced its own hard fork, resulting in the creation of yet another derivation of bitcoin called Bitcoin SV. Bitcoin SV was created in an effort to stay true to the original vision for bitcoin that Satoshi Nakamoto described in the bitcoin white paper while also making modifications to facilitate scalability and faster transaction speeds. The debate about the future of bitcoin appears to show no signs of being resolved.

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The Difference Between Bitcoin vs. Bitcoin Cash

Bitcoin cash price corrected lower from the $270 resistance zone. BCH seems to be preparing for the next crucial break either above $260 or towards the $230 support.

After a strong increase above $250, bitcoin cash price found sellers near the $268 level. BCH price formed a new monthly high near $268 and recently started a downside correction.

There was a break below the $265 support zone and the price even spiked below $250. A low is formed near the $246 level and the price is currently well above the 100 simple moving average (4-hours).

The last swing high was near $263 and the recent low was near $246. Bitcoin cash is currently trading in a range (similar to bitcoin) above the $250 support. It tested the 50% Fib retracement level of the recent decline from the $263 high to $246 low.

More importantly, there is a key contracting triangle forming with resistance near $255 on the 4-hours chart of the BCH/USD pair. The triangle resistance is close to the 61.8% Fib retracement level of the recent decline from the $263 high to $246 low.

Therefore, an upside break above the triangle resistance and the $260 level could open the doors for a fresh increase. The next key hurdle is near the $268 and $270 levels, above which the bulls are likely to aim a test of the $300 handle in the near term.

If bitcoin cash price breaks the triangle support, it could even struggle to stay above the $246 swing low. The next major support is near the $244 level or the 100 simple moving average (4-hours).

Any further losses could start a steady decline towards the $230 support. Overall, the price could either rally sharply above $260 or start a fresh decline below $250.

Technical indicators

Hourly MACD The MACD for BCH/USD is struggling to gain pace in the bullish zone.

Hourly RSI (Relative Strength Index) The RSI for BCH/USD is currently just below the 50 level.

Key Support Levels $250 and $246.

Key Resistance Levels $260 and $270.

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Bitcoin Cash Near Key Inflection Zone: Heres Why BCH Could Rally Again | NewsBTC - newsBTC

While bitcoin has outperformed gold and the S&P 500 index in 2020, data shows even better returns among leading bitcoin fork cryptocurrencies.

These cryptocurrencies are created by copying the Bitcoin source code repository through a process called forking. Developers then adjust certain parameters and features in the copied code to create a similar but distinct protocol. According to data from Messari, the three largest bitcoin (BTC) forks by market capitalization are bitcoin cash (BCH), bitcoin sv (BSV), and bitcoin gold (BTG).

Using an equal-weighted index of the four cryptocurrencies the returns are almost 3.5 times greater than bitcoin alone for the year to date, based onTradingViewdata. Since the beginning of 2019, moreover, this index outperformed bitcoin by a total of 435 percentage points. An equal-weighted index of just the top three bitcoin forks returned gains 3.1 times greater than bitcoin, year to date.

Individually, bitcoin sv and bitcoin gold have outperformed bitcoin by 61 and 37 percentage points, respectively, since the start of 2020. Bitcoin cash outperformed bitcoin until May. Year to date, the largest bitcoin fork has underperformed bitcoin by 11 percentage points, according to TradingView data.

Some analysts arent surprised by these returns. Cryptocurrencies with low and middle market capitalizations like these bitcoin forks tend to outperform bitcoin during marketwide bull runs, said Aditya Das, market analyst at research firm Brave New Coin. Similar trends were observed during the 2017 bullish market cycle, he explained.The miner subsidy for bitcoin and its forks also halved this year, an event that occurs once every four years and is a bullish catalyst for some investors.

These returns are mostly attributable to a strong positive correlation with bitcoins price inflation combined with higher volatility, according to Louis Liu, founder and CIO at Mimesis Capital. Nonetheless, there is definitely alpha in bitcoin forks, he said, referring to the excess returns. However, he says they were not the result of fundamental value added by improving on bitcoin.

As is usually the case, greater returns come with increased risk. Liquidity is one such concern, Das explained.

Only two of the industrys largest exchanges by traded volume, Binance and Bitfinex, support markets for all three top bitcoin forks, according to Nomics. Moreover, the largest bitcoin cash spot market, supported by Binance, is only one-tenth the size of the largest bitcoin market, also on Binance.

Forks such as bitcoin cash and bitcoin sv are likely being used purely as speculative instruments, said Kevin Kelly, former equity analyst at Bloomberg and co-founder of digital asset research firm Delphi Digital.

Whats more, he added, the liquidity profile and long-term value proposition of bitcoin forks is drastically different, if even existent, when compared to bitcoin.

UPDATE (June 9, 2020 14:46 UTC):This piece has been updated to reflect the returns of an equal-weighted index of bitcoin and its top three forks as 3.5 times greater than bitcoin returns, not 14 times greater as originally stated. Also added are returns of an equal-weighted index comprised of only the top three forks.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Returns for Bitcoin's Forks Have Trounced Bitcoin This Year - CoinDesk - CoinDesk

Bitcoin cash price is showing positive signs and it is trading above the $250 support. BCH is likely to continue higher and it might break the $265 and $270 resistance levels.

After a downside correction, bitcoin cash price found support near the $245 zone. BCH price traded as low as $246 and recently started a fresh increase. It broke the $250 resistance and remained well above the 100 simple moving average (4-hours).

There was a break above the 50% Fib retracement level of the downward move from the $263 high to $246 low. More importantly, there was a break above a key contracting triangle with resistance near $255 on the 4-hours chart of the BCH/USD pair.

The pair is now trading above the 61.8% Fib retracement level of the downward move from the $263 high to $246 low. It seems like bitcoin cash is likely to continue higher above the $260 level.

An initial resistance is near the $268 level or the 1.236 Fib extension level of the downward move from the $263 high to $246 low. If the price breaks the $268 resistance, it is likely to rise further towards the $280 and $285 resistance levels in the near term.

If bitcoin cash price corrects lower in the short term, it might find support near the triangle lower trend line at $252 or $250. The main support is now forming near the $248 zone and the 100 simple moving average (4-hours).

A downside break below the $248 support and a close below the 100 SMA could initiate a sharp decline and the price may perhaps revisit the $230 support zone in the coming sessions.

Technical indicators

Hourly MACD The MACD for BCH/USD is now slowly gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) The RSI for BCH/USD is currently well above the 50 level, with positive signs.

Key Support Levels $250 and $248.

Key Resistance Levels $268 and $280.

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Bitcoin Cash Smashes Key Resistance: Heres Why It Could Retest $270 | NewsBTC - newsBTC

Bitcoin rose by 0.81% on Sunday. Following on from a 0.50% gain on Saturday, Bitcoin ended the week up by 3.13% to $9,747.1.

A mixed start to the day saw Bitcoin rise to an early morning high $9,710.7 before hitting reverse.

Coming up short of the first major resistance level at $9,756.27, Bitcoin slid to an early afternoon intraday low $9,393.8.

Bitcoin fell through the first major support level at $9,566.57 and the second major support level at $9,464.73.

Finding late support, however, Bitcoin rallied to a late afternoon intraday high $9,814.0.

Bitcoin broke through the first major resistance level at $9,756.27 before easing back to sub-$9,700 levels. A late rally led to a move back through to $9,700 levels. The first major resistance level capped the upside in the final hour, however.

The near-term bullish trend remained intact, supported by last weeks gain.

For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

Across the rest of the majors, it was yet another mixed day for the majors on Sunday.

Trons TRX rallied by 6.86% to lead the way.

Cardanos ADA (+0.35%), EOS (+0.55%), and Ethereum (+1.20%) joined Bitcoin in the green.

It was a bearish end to the week for the rest of the majors, however.

Bitcoin Cash ABC slid by 6.8% to lead the way down.

Bitcoin Cash SV (-1.13%), Moneros XMR (-1.54%), Stellars Lumen (-1.85%), and Tezos (-1.31%) also struggled.

Binance Coin (-0.80%), Litecoin (-0.30%), and Ripples XRP (-0.05%) saw modest losses on the day.

It was also a mixed week for the majors.

Bitcoin Cash ABC and Bitcoin Cash SV bucked the trend, with losses of 0.02% and 1.76% respectively.

It was a bullish week for the rest of the pack, however.

Cardanos ADA, Stellars Lumen, and Trons TRX led the way, with gains of 17.08, 12.65%, and 14.9% respectively.

Binance Coin (1.93%), EOS (+5.17%), Ethereum (+5.78%), Litecoin (+2.30%), Moneros XMR (-2.53%), and Tezos (+2.88%) also found strong support.

Ripples XRP saw a more modest 0.49% gain for the week.

Through the week, the crypto total market cap rose to a Monday high $289.13bn before sliding to a Tuesday low $252.62bn. At the time of writing, the total market cap stood at $272.05bn.

At the start of the week, Bitcoins rose to a Monday high 67.13% before falling to a Thursday low 65.58%. At the time of writing, Bitcoins dominance stood at 65.97%.

At the time of writing, Bitcoin was up by 0.19% to $9,765.8. A mixed start to the day saw Bitcoin rise to an early morning high $9,785.7 before falling to a low $9,745.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was another mixed start to the day.

Binance Coin (+0.64%), Bitcoin Cash ABC (+0.38%), Bitcoin Cash SV (+0.09%), Litecoin (+0.21%), Moneros XMR (+0.05%), and Stellars Lumen (+0.13%) joined Bitcoin in the green.

It was a bearish start to the week for the rest of the majors. At the time of writing, Trons TRX was down by 1.00% to lead the way down.

Bitcoin would need to move back through to $9,800 levels to bring the first major resistance level at $9,909.47 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Sundays high $9,814.0.

Story continues

Barring another broad-based crypto rally, the first major resistance level would likely limit any upside.

In the event of an extended crypto rally, Bitcoin could eye the second major resistance level at $10,071.83 before any pullback. Expect plenty of resistance at $9,900, however

Failure to move through to $9,800 levels could see Bitcoin struggle on the day.

A fall back through the morning low $9,745.0 to sub-$9,650 levels would bring the first major support level at $9,489.27 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $9,231.43.

This article was originally posted on FX Empire

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The Crypto Daily Movers and Shakers -08/06/20 - Yahoo Finance

The U.S. Marshals Service is ramping up its search for an expert to help organize a trove of crypto assets including Bitcoin, Ethereum, Bitcoin Cash and Litecoin.

The agency is now looking for a contractor who can help seize, maintain, store, sell and dispose proceeds from illegal activities, recovered from criminals who turn to virtual assets because of the perceived anonymity and privacy of transactions.

The USMS is also offering details on just how much cryptocurrency it holds.

Heres a look at a three-year average of its crypto portfolio, featuring more than $65 million in Bitcoin and $9 million in Ethereum.

The agency wants amanager who can handle the intricacies of crypto asset management such as creating wallets, managing blockchain forks and transferring tokens.

This includes but is not limited to such activities as accounting, customer management, audit compliance, managing blockchain forks, wallet creation and management, private encryption key generation and safekeeping, backup and recovery of private encryption key material, airdrops, etc., as well as future actions associated with the virtual currency forfeiture process.

The contract will be for one year, but can be extended for an additional four years if necessary.

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U.S. Marshals Hiring Crypto Expert to Manage Massive Bitcoin, Bitcoin Cash, Ethereum and Litecoin Holdings - The Daily Hodl

Bitcoin rose by 0.50% on Saturday. Partially reversing a 1.74% fall from Friday, Bitcoin ended the day at $9,668.4.

It was another mixed start to the day. Bitcoin fell to an early morning intraday low $9,552.6 before making a move.

Steering clear of the first major support level at $9,538.6, Bitcoin rallied to a midday intraday high $9,742.3 before hitting reverse.

Falling short of the first major resistance level at $9,784.0, Bitcoin slid back to sub-$9,600 levels before briefly revisiting $9,700 levels.

Resistance at $9,700 ultimately pinned Bitcoin back late in the day to limit the upside on the day.

The near-term bullish trend remained intact, in spite of the mixed week.

For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

Across the rest of the majors, it was another mixed day for the majors on Saturday.

Stellars Lumen rose by 1.64% to lead the way on the day.

Cardanos ADA (+0.40%), Ethereum (+0.81%), Moneros XMR (+0.79%), Ripples XRP (+0.57%), and Trons TRX (+0.94%) also avoided the red.

It was a bearish day for the rest of the majors. Bitcoin Cash ABC fell by 1.32% to lead the way down.

Binance Coin (-0.74%), Bitcoin Cash SV (-0.28%), EOS (-0.53%), and Tezos (-0.24%) also saw red, while Litecoin ended the day flat.

Through the current week, the crypto total market cap rose to a Monday high $285.71bn before sliding to a Tuesday low $255.98bn. At the time of writing, the total market cap stood at $270.22bn.

In the week, Bitcoins rose to a Monday high 67.13% before falling to a Thursday low 65.58%. At the time of writing, Bitcoins dominance stood at 65.81%.

At the time of writing, Bitcoin was down by 0.12% to $9,657.0. A bearish start to the day saw Bitcoin fall from an early morning high $9,668.5 to a low $9,619.4.

Bitcoin left the major support and resistance levels untested early on.

The rest of the majors saw another mixed start to the day.

Ethereum (-0.09%), Moneros XRM (-0.19%), and Tezos (-0.13%) joined Bitcoin in the red.

The rest of the majors were in the green at the time of writing, with Bitcoin Cash SV up by 0.44% to lead the way.

Bitcoin would need to move through to $9,760 levels to bring the first major resistance level at $9,756.27 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Saturdays high $9,742.3.

Barring another broad-based crypto rally, the first major resistance level and Saturdays high would likely limit any upside.

In the event of an extended crypto rally, Bitcoin could eye the second major resistance level at $9,844.13 before any pullback.

Failure to move through to $9,760 levels could see Bitcoin struggle on the day, however.

A fall back through the morning low to sub-$9,600 levels would bring the first major support level at $9,566.57 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $9,464.73.

This article was originally posted on FX Empire

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The Crypto Daily Movers and Shakers -07/06/20 - Yahoo Finance