Bitcoin cash price is likely approaching the next key break and must surpass $212 and to climb higher towards $226 and $236 resistance level.

After a strong rejection near the $225 resistance, the price of Bitcoin Cash declined below $215 level. BCH price tested the $205 support level and started trading in a range-bound movement. However, the coin stayed above the $202 support and the recent low was formed near $203.

At press time, Bitcoin Cash price is currently rising and trading at the $210 level.

On the upside, if more buyers emerge, the coin will rise and retest the $215 and the $226 level. Nevertheless, there is a crucial bearish trend line forming with resistance near $212 on the 4-hours chart.

On the other hand, an initial support is near the $205 and $202 level. If there is a downside break below $202, the price could decline heavily towards the support of $192 or $185.

Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are above the zero line which indicates a buy signal.

On the 1-hour chart, BCHUSD price is under pressure below the $215 level. However, the price is likely to recover $226 as long as there is no bearish close below the $200 support level.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.

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Bitcoin Cash Price Analysis - Will The Uptrend Continue Above $212? - KryptoMoney

SAN FRANCISCO, Calif., Dec. 5, 2019 (SEND2PRESS NEWSWIRE) AmericaSCORES Bay Area, the award-winning nonprofit that has been studied for its proven benefits to student learning, health, and social-emotional skills of over 2,000 low-income youth, has partnered with blockchain technology and design firm Totem Block and BitPay, the largest global blockchain payment provider, to become an early adopter in accepting cryptocurrency donations.

Cryptocurrency can provide a tax relief option and local end-of-year charitable giving opportunity for donors. Though 2% of all donations to charitybillions of dollars in the U.S.in 2018 were made in cryptocurrency, very few nonprofits are able to accept cryptocurrency donations, and fewer still in the Bay Area, though it is the top location for cryptocurrency holdings worldwide. AmericaSCORES Bay Areas digital donation platform, implemented by Totem Block, steps into the gap and connects high net worth donors to actual impact and change in their communities.

AmericaSCORES has several programs with proven benefits to the health, social-emotional well being, and academic and creative skills of its youth. SCORES after-school programs train kids to write poetry, play soccer, and go out into their communities to perform service projects. AmericaSCORES also funds the building of soccer fields in urban spaces, giving kids a green place to play.

Accepting cryptocurrency donations through BitPay helps SCORES keep going with their mission of empowering poet-athletes to lead healthy lifestyles, be engaged and collaborative students and have the confidence and character to make a difference in the world.

AmericaSCORES has been named a 2019 RWJF Sports Award Finalist, one of only 12 in the country. This award recognizes professional teams, individuals and organizations that strengthen and serve communities through sport. It was named a 2019 Presidents Council on Sports, Fitness and Nutrition Community Leader. This honor was given to only 31 organizations or individuals. AmericaSCORES is 1 of 15 organizations to be recognized as a Best Practice Honoree from the Library of Congress for their unique literacy and poetry program.

As blockchain payments continue to move mainstream, we are seeing an increase in donations from the crypto community to valuable causes like SCORES, said Bill Zielke, CMO at BitPay. In accepting cryptocurrency donations through BitPay, SCORES can broaden its donor base who want to make donations using cryptocurrency while receiving settlements in US dollars.

The customer makes the donation and BitPay verifies the funds and accepts the Bitcoin, Bitcoin Cash or Ether. SCORES has the option to take Bitcoin, Bitcoin Cash, Ether or US Dollars or a split. If SCORES chooses to take 100% fiat currency, the US Dollars are deposited into their bank account the next business day minus a 1% fee BitPay charges for the entire process. This fee is significantly less than the fees charged by credit cards, allowing organizations to keep a larger percentage of overall donations.

The ways in which people transact financially is changing, which means that philanthropy is also changing, said CEO of AmericaSCORES Bay Area Colin Schmidt. Accepting Bitcoin is a natural next step as a greater number of people use it. Two percent of donations in 2018 were made using cryptocurrency, which may not seem like a lot until you think about the scale of philanthropyhundreds of billions of dollars. We want to show that there are many ways to use cryptocurrency, which can practically benefit both an organization and a donor through transparency, securely and easily through a partner like Bitpay.

CEO of Totem, Jackie Morck adds, Were proud to partner with America SCORES to help them implement all the technology they need to accept cryptocurrencies, and reach the right audiences in the industry. After implementing a donation portal, weve partnered with BitPay for its easy set-up, long-standing reputation, and history of working with nonprofits. Were happy to help America SCORES be innovators in their field and provide more options for donors through using this exciting new technology.

About America SCORESSince 2001, SCORES has been delivering joyful learning opportunities to Bay Area children, giving students the support, skills, and confidence to meet new challenges and chart their own futures. Its mission is to empower its poet-athletes to lead healthy lifestyles, be engaged and collaborative students, and have the confidence and character to make a difference in the world. AmericaSCORES delivers free, accessible after school youth development programs that combine soccer, poetry and service learning. It has programs in San Francisco, Oakland, Daly City, San Rafael, Hayward, and Redwood City schools. For more information visit https://www.americascoresbayarea.org/.

About BitPayFounded in 2011, BitPay is the pioneer and the most experienced company in Bitcoin and blockchain payments. Its suite of products enables businesses to send and receive cross border payments, also enabling consumers to manage digital assets with the BitPay Wallet and turn digital assets into dollars with the BitPay Prepaid Visa Card. The company has offices in North America, Europe, and South America and has raised over $70 million from leading investors including Founders Fund, Index Ventures and Aquiline Technology Growth. For more information visit https://bitpay.com.

About TotemTotem is a blockchain technology and design firm that partners with clients to build creative, cutting-edge development solutions for forward-thinking companies. Totem uses diverse experience in vertical industries, specialized technology insights, and world-class ecosystem to create blockchain applications that are real, viable, and innovative. For more information visit https://totem.vegas/.

News Source: AmericaSCORES Bay Area

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Award-Winning Bay Area Nonprofit Now Accepts Bitcoin, Bitcoin Cash, and Ethereum Donations through BitPay - Send2Press Newswire

Bitcoin rose by 1.99% on Friday. Following on from a 2.77% rally on Thursday, Bitcoin ended the day at $7,588.3.

A choppy start to the day saw Bitcoin rise to a morning high $7,496.5 before falling to a late morning intraday low $7,350.0.

Steering clear of the first major support level at $7,243.7, Bitcoin rallied to a late afternoon intraday high $7,661.8.

Bitcoin broke through the first major resistance level at $7,583.6 before falling back to sub-$7,500 levels.

Late support delivered the upside on the day, with Bitcoin breaking back through the first major resistance level to hit $7,600 levels before easing back.

In spite of the upside on the day, the first major resistance level at $7,583.6 capped the upside on the day.

The near-term bearish trend, formed at late Junes swing hi $13,764.0, remained firmly intact, in spite of the upside in the current week.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

Across the rest of the top 10 cryptos, it was a mixed day for the majors.

Bitcoin Cash SV led the way, rallying by 2.89%.

EOS (+1.62%), Litecoin (+1.14%), Ripples XRP (+2.04%), and Stellars Lumen (+1.11%) also saw solid gains.

Binance Coin (+0.19%) and Ethereum (+0.42%) trailed the pack, while Bitcoin Cash ABC bucked the trend, with a 0.12% loss.

Through the current week, the crypto total market cap slid from $203bn levels on Monday to a Wednesday low $195.19bn before hitting $204bn levels on Saturday. At the time of writing, the total market cap stood at $204.28bn.

Bitcoins dominance returned to 67% levels, supported by the strong gains on the day. 24-hour trading volumes failed to recover to $100bn levels, with volumes at sub-$60bn on Friday.

At the time of writing, Bitcoin was down by 0.31% to $7,564.6. A mixed start to the day saw Bitcoin rise to an early morning high $7,609.7 before falling back to a low $7,557.0.

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

Elsewhere, EOS (-0.05%), Ripples XRP (-0.28%), and Stellars Lumen (-0.22%) joined Bitcoin in the red.

It was a relatively positive day for the rest of the pack, however, with Binance Coin up by 0.44% to lead the way.

Bitcoin would need to move back through to $7,600 levels to support a run at the first major resistance level at $7,716.73.

Support from the broader market would be needed, however, for Bitcoin to break out from Fridays high $7,661.8.

Barring a broad-based crypto rebound on the day, Fridays high and resistance at $7,700 would likely pin Bitcoin back.

In the event of a rebound, Bitcoin could visit $7,800 levels before any pullback.

Failure to move back through to $7,600 levels could see Bitcoin struggle on the day.

A fall back through to sub-$7,530 levels would bring the first major support level at $7,404.93 into play.

Barring a crypto meltdown, however, Bitcoin should steer clear of sub-$7,300 levels for a 2nd consecutive day.

In the event of an extended reversal, the second major support level at $7,221.57 would come into play, however.

This article was originally posted on FX Empire

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The Crypto Daily Movers and Shakers -07/12/19 - Yahoo Finance

Bitcoin was born out of despair. Hidden among the lines of code in the first ever batch of the cryptocurrency was a headline from the frontpage of that days edition ofThe Times: Chancellor on brink of second bailout for banks.

It was 3 January, 2009, and the world was in the midst of the worst financial crisis since the Great Depression. Banks were collapsing, businesses were foreclosing and people were losing their homes.

It was the result of the worst excesses and greed of a capitalistic system that was teetering on the edge of comprehensive collapsed. But Satoshi Nakamoto, bitcoins pseudonymous creator, believed he had a solution.

Sharing the full story, not just the headlines

It came in the form of a revolutionary electronic cash systemthat ditched centralised systems like banks and governments in favour of a peer-to-peer payments network supported by an online ledger known as a blockchain.

But for all its promise, it turned out to be a bumpy revolution. Nothing much actually happened for the first few years after bitcoins birth, and it lay largely dormantuntil after the worst of the periods economic turmoil had already passed.

On 3 January, 2009, the genesis block of bitcoin appeared. It came less than a year after the pseudonymous creator Satoshi Nakamoto detailed the cryptocurrency in a paper titled 'Bitcoin: A peer-to-Peer Electronic Cash System'

Reuters

On 22 May, 2010, the first ever real-world bitcoin transaction took place. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins the equivalent of $90 million at today's prices

Lazlo Hanyecz

Bitcoin soon gained notoriety for its use on the dark web. The Silk Road marketplace, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoin

On 29 October, 2013, the first ever bitcoin ATM was installed in a coffee shop in Vancouver, Canada. The machine allowed people to exchange bitcoins for cash

REUTERS/Dimitris Michalakis

The world's biggest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing almost 750,000 of its customers bitcoins. At the time, this was around 7 per cent of all bitcoins and the market inevitably crashed

Getty Images

In 2015, Australian police raided the home of Craig Wright after the entrepreneur claimed he was Satoshi Nakamoto. He later rescinded the claim

Getty Images

On 1 August, 2017, an unresolvable dispute within the bitcoin community saw the network split. The fork of bitcoin's underlying blockchain technology spawned a new cryptocurrency: Bitcoin cash

REUTERS

Towards the end of 2017, the price of bitcoin surged to almost $20,000. This represented a 1,300 per cent increase from its price at the start of the year

Reuters

On 3 January, 2009, the genesis block of bitcoin appeared. It came less than a year after the pseudonymous creator Satoshi Nakamoto detailed the cryptocurrency in a paper titled 'Bitcoin: A peer-to-Peer Electronic Cash System'

Reuters

On 22 May, 2010, the first ever real-world bitcoin transaction took place. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins the equivalent of $90 million at today's prices

Lazlo Hanyecz

Bitcoin soon gained notoriety for its use on the dark web. The Silk Road marketplace, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoin

On 29 October, 2013, the first ever bitcoin ATM was installed in a coffee shop in Vancouver, Canada. The machine allowed people to exchange bitcoins for cash

REUTERS/Dimitris Michalakis

The world's biggest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing almost 750,000 of its customers bitcoins. At the time, this was around 7 per cent of all bitcoins and the market inevitably crashed

Getty Images

In 2015, Australian police raided the home of Craig Wright after the entrepreneur claimed he was Satoshi Nakamoto. He later rescinded the claim

Getty Images

On 1 August, 2017, an unresolvable dispute within the bitcoin community saw the network split. The fork of bitcoin's underlying blockchain technology spawned a new cryptocurrency: Bitcoin cash

REUTERS

Towards the end of 2017, the price of bitcoin surged to almost $20,000. This represented a 1,300 per cent increase from its price at the start of the year

Reuters

In the early 2010s it was only a core group of cypherpunks and cryptography enthusiasts that really understood bitcoins potential but its semi-anonymous nature meant it soon found use among drug dealers and cyber criminals on the dark web.

After a brief price surge in 2012 it began to gain more widespread recognition and by late 2017 it was making frontpage headlines of its own as its market capitalisation briefly exceed $300 billion more than the entire GDPof over 140 countries.

Some warned at the time that the phenomenal price growth was the result of a bubble and, sure enough, it eventually crashed. Throughout 2018 its value tumbledrepeatedly and sometimes spectacularly as naysayers pronounced its death and late investors lost millions.

By the start of 2019, a bitcoin was worth less than $4,000 and excitement forthe great economic experiment had subsided before any truly mass-market use cases had even been realised.

But it was far from over. As the decade draws to a close, news about new digital currency projects have begun to emerge from vast multi-national corporations like Facebook, to some of the worlds biggest economies.

With each positive news story about cryptocurrency, the price of bitcoin hasgrown, yet the volatility remains.For some, this unpredictability is one of the reasons it can never achieve its potential as a mainstream form of currency.

Bitcoins first major price burst in 2013 was a small blip compared to subsequent price spikes of the 2010s (CoinMarketCap)

Sceptics remain and misconceptions of bitcoin being some kind ofmagic internet money with no inherent worth continue to dominate stale narratives about cryptocurrency.

Some cryptocurrency advocates point to the fact that, on the contrary, it is traditional currencies that can be created out of thin air through processes like quantitative easing. And while established currencies are no longer backed by gold or anything tangible, bitcoin has the blockchain to mathematically regulate a finite supply.

Nigel Green, CEO of London-based financial advisory firm deVere Group,claims cryptocurrencies areredefining and reshaping the financial systemand that critics are either ignoring, or simply not understanding, the promise they hold.

I would suggest that most people saying these things do not understand the crypto sector as it is relatively young and/or have vested interests in older, traditional ones, he tellsThe Independent.However, whether they like it or not, dyed-in-the-wool financial traditionalists need to accept that cryptocurrencies are here to stay.

What is cryptocurrency and the technology behind bitcoin and its rivals?

Bitcoin may have assured its place in history but its future remains uncertain.There have already been thousands of spin-offs there are currently 2,364 different cryptocurrencies listed on monitoring siteCoinMarketCap and some believe one of these will soon take its place as the dominant cryptocurrency.

Some of the more notable ones, like ethereum, ripple and bitcoin cash, offer something slightly different to bitcoin, such asquicker transaction times or greater anonymity.

Yet it is the pseudo cryptocurrencies being developed by countries and companies that could see the most mainstream success over the coming decade. They will not be decentralised and will likely be tools to track users rather than provide privacy, but they will solve two of the biggest problems: trust and stability.

Cryptocurrencies have arguably been the radical fintech innovation of the decade. But while the 2010s has been an exploratory phase introducing the concepts of cryptocurrencies and blockchain to the world the 2020s will be the decade for innovation and application, Christel Quek, co-founder of cryptocurrency company Bolt, tellsThe Independent.

Beyond new currencies inspired by bitcoin, a whole new industry is forming from its underlying blockchain technology. At its core, it provides an immutable andunhackableplatform for storing and transacting digital assets and records, meaningit could potentiallytransform everything from healthcare to the food industry.

Bitcoins underlying blockchain technology is set to transform dozens of industries (Gartner)

FelixShipkevich, a New York-based lawyer with expertise in blockchain regulations, says the technology "has the power to change the world for the better" by providing a new standard for accountability and trust.

Bitcoin has not only brought blockchain into existence, it has challengedregulatory obstacles that stand in the way of this new wave of applications being realised.

Cryptocurrencies have given rise to regulators acceptance of digital cash and fintech products and services that are both novel and progressive," Shipkevich tellsThe Independent. "Weve seen greater acceptance by regulators versus total rejection.

"We saw this happen in China, where crypto trading was strictly prohibited, but are now announcing the use of blockchain technology as a major government and fiscal technology initiative.

Thousands of cryptocurrencies have emerged in the 2010s, and more will certainly follow in the 2020s(Getty)

The 2010s may have been defined by bitcoin but the next 10 years will dictate which cryptocurrency truly takes off and emerges to rival traditional currencies.

It would be foolish to write-off bitcoin - its death has been pronounced more than 350 times in the press, according to a website tracking "bitcoin obituaries"- but its flaws could see it become simply a store of value rather than a mainstream form of exchange.

Much like MySpace and Bebo were usurped by Facebook in the early days of social media, another cryptocurrency could come along to take bitcoin's crown as the most popular cryptocurrency - maybe even Facebook's Libra.

If this happens, predictions about bitcoin's price reaching $500,000 or even $1 million over the next few years will appear wildly ambitious. Then again, it has proved its doubters wrong more than once before.

Cyber security pioneer and bitcoin believer John McAfee made a bold bet about the cryptocurrencys future (Twitter)

At the start of the decade, bitcoin was worth just $0.03. It will likely close out the 2010s somewhere north of $7,000.

Another Great Recession could cause enough of a seismic shift in the established order for bitcoin's price to rocket once again and for Satoshi Nakamotos vision to finally be realised.

Or it could continue its steady yet chaotic climb to achieve mainstream successthrough favourable regulation and greater commercial acceptance, which has been quietly underway over the last decade.

It may have been born out of despair but it enters the new decade full of hope.

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Bitcoin's bumpy revolution may be only just beginning - The Independent

In a recent interview on CNBCs Power Lunch, Roger Ver, supporter of Bitcoin Cash, the worlds fifth-largest cryptocurrency by market cap and the most successful offshoot of Bitcoin, says he expects its price to surge a thousand times.

He bases his speculation on the adoption of Bitcoin Cash by merchants and people who spend it like traditional money.

Ver, who is the founder of bitcoin.com, says Bitcoin Cash not Bitcoin is the actual cryptocurrency that utilizes the tech as originally designed by the anonymous inventor of Bitcoin.

I think [Bitcoin Cash] has the ability to go up a thousand times where it is currently, because its looking to become peer-to-peer electronic cash for the entire world. And it has more physical shops accepting it around the world.

It has more infrastructure being built on top of it. Its really an amazing investment. As one of the greatest investors ever said, Warren Buffett, Be greedy when others are fearful and fearful when others are greedy. I think thats true in general and specifically true about Bitcoin Cash.

Ver says Bitcoin.com, which offers a suite of services to help people buy, use, and storeBitcoin and Bitcoin Cash securely, has tens of thousands of new sign-ups each day.

The thing that I got so excited about when Bitcoin was less than $1 was peer-to-peer electronic cash for the world where you could send and receive any amount of money with anyone, anywhere, instantly, basically for free and there was nothing that anyone could do to stop it.

Ive been giving that little speech since 2011. Its still completely true about Bitcoin Cash today. Its no longer true about what everybody is calling Bitcoin. Bitcoin today is this brand, but the actual technology that works that made Bitcoin popular to begin with is now called Bitcoin Cash.

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Early BTC Investor Roger Ver Says Bitcoin Cash Set to Skyrocket A Thousand Times From Where It Is Now - The Daily Hodl

Altcoins like Ethereum, Bitcoin Cash, and ZCash are currently struggling for survival and analysts dont expect them to grow in value. Are we witnessing an altcoin apocalypse or is this crypto bear market just a blip?

The Born2Invest application is collecting business news from various trusted sources. You can find information about cryptocurrency and blockchain, economy, investing, markets, media, and personal finance.

The application is optimized and designed in a way that you can always find the necessary information.

As 2019 is coming to an end one thing is clear, the altcoin golden age is at an end. Two years ago the word ICO was on everyones lips.

In 2017, FOMO was the daily companion of every new investor and scammers took advantage and reaped huge rewards with fake ICOs and abandoned projects. Almost daily a new Bitcoin killer hit the market. However, few, if any, followed through on that promise.

Prior to the 2017 ICO rush, there were already a number of well-established altcoins of varying pedigree, like Ethereum, Ripple, Bitcoin Cash, ZCash and IOTA. Most of these coins hit their all-time high in 2017 and most have experienced a sustained decline since then.

Ethereum is 89% below its all-time high. This applies both to the pair ETH/USD and ETH/BTC. Bitcoin Cash is 95% below its all-time high in US dollars.

The most relevant example is probably ZCash. The anonymous cryptocurrency, which was among the top 20 coins for a long time, has lost almost everything in value compared to Bitcoin.

ZCash is currently 98% below its all-time high in US dollars. Looking at the ZEC/BTC currency pair, ZCash lost 99.98%.

Almost all altcoins have seen a significant drop since then and have performed significantly worse than Bitcoin, which is around 63% below its all-time high, but the return on investment for early investors is still significant.

Ethereum, XRP or IOTA have all had an enormously strong Return-On-Investment (ROI) value. All three altcoins have gained hundreds and thousands of percent since their ICO.

However, only a few investors were able to benefit from this price increase most of them probably have exited in the boom year 2017.

Some of the altcoins have held their positions over the last two years. Ethereum, XRP, Bitcoin Cash and Litecoin are still in the Top10. While Bitcoin has been able to increase its share price by more than 100% since August 5, 2017, the situation is much worse for most altcoins. No matter if it is Ethereum, Bitcoin Cash or IOTA.

Currently, the prices of the respective altcoin are a good 50% below the values at that time. Of course, at the end of December 2017, we saw abnormal prices for the altcoins.

Even those coins that performed well did not achieve significant gains over time. At the moment, Litecoin is trading at pretty much the same price as on August 5, 2017. XRP rose from $0.18 to $0.21 during this period, up 15%.

From a price and technical point of view, some of the featured altcoins such as Bitcoin Cash, or ZCash have been failures. Bitcoin Cash has an ROI of -62%. ZCash is -98%.

While other altcoins such as Ethereum or XRP have provided tremendous returns for those who bet on them, neither coin has been able to outperform Bitcoin in recent years.

The current market capitalization of the entire crypto market is almost $200 billion on August 5, 2017, it was about $100 billion.

While the MarketCap has now doubled, Ethereum, XRP, and Co. have had to lose a lot in market capitalization. However, one of the coins that have benefited massively from this growth is Bitcoin.

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DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words believe, project, estimate, become, plan, will, and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in CRYPTOMONDAY, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Altcoin apocalypse the dramatic fall of XRP, Bitcoin Cash and ZEC - Born2Invest

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Moon Cash | Free bitcoin cash faucet

Bitcoin Cash ABC

Bitcoin Cash ABC fell by 1.46% on Tuesday. After having closed out the day flat on Monday, Bitcoin Cash ABC ended the day at $211.56.

A mixed start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $216.11 before hitting reverse.

Falling short of the first major resistance level at $216.78, Bitcoin Cash ABC fell to a mid-morning low $212.15.

Steering clear of the first major support level at $211.33, Bitcoin Cash ABC recovered to $214 levels before a 2nd sell-off.

The 2nd sell-off saw Bitcoin Cash ABC fall to a late intraday low $211.56. In spite of the pullback, Bitcoin Cash ABC steered clear of the first major support level at $211.33.

At the time of writing, Bitcoin Cash ABC was down by 2.75% to $205.75. A bearish start to the day saw Bitcoin Cash ABC slide from an early morning high $210.85 to a low $202.44.

Bitcoin Cash ABC fell through the major support levels before breaking back through the third major support level at $203.98.

For the day ahead, Bitcoin Cash ABC would need to break back through the second major support level at $208.53 to support a rebound.

Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from the first major support level at $210.04.

In the event of a rebound, resistance at $213 levels would likely pin Bitcoin Cash ABC back on the day.

We would expect the first major resistance level at $214.59 to be left untested on the day.

Failure to move back through the second major support level could see Bitcoin Cash ABC fall deeper into the red.

A fall back through the third major support level at $203.98 would bring sub-$200 levels into play.

Litecoin fell by 1.65% on Tuesday. Following on from a 4.06% slide on Monday, Litecoin ended the day at $44.80.

It was a choppy day for Litecoin on Tuesday. Through the early hours, Litecoin rose to an early morning high $46.20 before sliding to a late morning intraday low $44.27.

Falling short of the first major resistance level at $47.11, Litecoin fell through the first major support level at $44.57.

Finding support through the early afternoon, Litecoin bounced back to a mid-afternoon intraday high $46.31.

The visit to $46 levels was brief, however, with Litecoin sliding back to sub-$45 levels late in the day.

Resistance at $45 left Litecoin at sub-$45 levels at the day end.

At the time of writing, Litecoin was down by 1.61% to $44.08. A bearish start to the day saw Litecoin slide from an early morning high $44.85 to a low $43.71.

Steering clear of the major resistance levels, Litecoin fell through the first major support level at $43.94 before finding support.

For the day ahead, Litecoin would need to move through to $45.10 levels to support a run at the first major resistance level at $45.98.

Litecoin would need the support of the broader market, however, to break out from the morning high $44.85.

Barring a broad-based crypto rebound, however, Litecoin would likely come up short of $45 levels on the day.

Failure to move through to $45.10 levels could see Litecoin slide deeper into the red. A fall back through the first major support level at $43.94 would bring the second major support level at $43.09 into play.

Barring an extended sell-off through the day, however, Litecoin should steer clear of sub-$43 levels.

Story continues

Ripples XRP slipped by 0.02% on Tuesday. Following a 2.59% slide from Monday, Ripples XRP ended the day at $0.22079.

A bullish start to the day saw Ripples XRP rise to an early morning intraday high $0.22383 before hitting reverse.

Falling short of the first major resistance level at $0.2261, Ripples XRP slid to a mid-morning intraday low $0.21922.

In spite of the return to sub-$0.22 levels, Ripples XRP steered clear of the first major support level at $0.2170.

Through the late morning, Ripples XRP recovered to $0.2219 levels before revisiting sub-$0.22 levels.

While steering clear of the major support levels, support at sub-$0.22 levels led to a rebound 2nd half of a day high $0.22291.

Continuing to fall short of the major resistance levels, however, left Ripples XRP with miner a loss from the day.

At the time of writing, Ripples XRP was down by 2.86% to $0.21448. A bearish start to the day saw Ripples XRP slide from an early morning high $0.22094 to a low $0.21251.

Ripples XRP fell through the first major support level at $0.2187 and the second major support level at $0.2167.

The pullback saw Ripples XRP come within range of the third major support level at $0.2121 before finding support.

For the day ahead, Ripples XRP would need to break through the second major support level to begin a recovery.

Support from the broader market would be needed, however, for a breakout from the first major resistance level at $0.2187.

Barring a broad-based crypto rebound, Ripples XRP would likely come up short of $0.22 levels and the major resistance levels.

Failure to move through the second major support level could see Ripples XRP test the third major support level before any recovery.

Barring an extended sell-off, Ripples XRP should steer clear of sub-$0.21 levels.

Please let us know what you think in the comments below

Thanks, Bob

This article was originally posted on FX Empire

See original here:

Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 04/12/19 - Yahoo Finance

As at 2019-12-03 average Bitcoin Cash price is 213.38049555 USD, 0.02906874 BTC, 1.43905398 ETH.

Bitcoin Cash BCH/USDT on Binance exchange is 211.74. The trading volume on Binance is 6222024.00.

At the same time Bitcoin Cash BCH/EUR on Kraken exchange is 212.10. The trading volume on Kraken is 218411.00.

Bitcoin Cash BCH/BTC on Bittrex exchange is 211.57. The trading volume on Bittrex is 41339.00.

Bitcoin Cash BCH/USD on Gemini exchange is 212.75. The trading volume on Gemini is 61650.00.

Bitcoin Cash BCH/USD on Coinbase Pro exchange is 211.82. The trading volume on Coinbase Pro is 2803760.00.

Bitcoin Cash average change within 24 hour is -1.04 against USD, -1.16 against BTC, -0.68 against ETH. Weekly report: 0.43 against USD, -2.43 against BTC, -0.37 against ETH. Monthly report: -25.28 against USD, -6.68 against BTC, -8.83 against ETH.

Its noteworthy that is issued into circulation Bitcoin Cash.

In this regard, 24 hour trading volume is 828346180.14773000 USD or 112845.27050442 BTC. At the same time Bitcoin Cash market capitalization is 3872234630 USD or $527512 BTC.

Follow this link:

Bitcoin Cash Price Changed by -1.04 percent - ICO Brothers

As at 2019-12-02 average Bitcoin Cash price is 215.63039568 USD, 0.02940993 BTC, 1.44896788 ETH.

Bitcoin Cash average change within 24 hour is -0.01 against USD, 0.77 against BTC, 1.27 against ETH. Weekly report: 2.21 against USD, 0.15 against BTC, 0.61 against ETH. Monthly report: -25.77 against USD, -5.55 against BTC, -8.69 against ETH.

Its noteworthy that is issued into circulation Bitcoin Cash.

In this regard, 24 hour trading volume is 928039157.05372000 USD or 126575.69244882 BTC. At the same time Bitcoin Cash market capitalization is 3912670024 USD or $533650 BTC.

Bitcoin Cash BCH/USDT on Binance exchange is 213.24. The trading volume on Binance is 9404752.00.

At the same time Bitcoin Cash BCH/USD on Coinbase Pro exchange is 212.94. The trading volume on Coinbase Pro is 2371542.00.

Bitcoin Cash BCH/EUR on Kraken exchange is 213.66. The trading volume on Kraken is 424832.00.

Bitcoin Cash BCH/BTC on Bittrex exchange is 212.86. The trading volume on Bittrex is 104456.00.

Bitcoin Cash BCH/USD on Gemini exchange is 213.98. The trading volume on Gemini is 96553.00.

Here is the original post:

Bitcoin Cash Price Changed by -0.01 percent - ICO Brothers

In the past two days, bitcoin price failed to gain pace above the USD 7,350 and USD 7,400 resistance levels. As a result, BTC/USD started a fresh decline and recently broke the key USD 7,200 support area. However, the price is still holding USD 7,000 (09:00 UTC), below which there is a risk of a sharp drop.

Moreover, most major altcoins were dragged lower by bitcoin, including ethereum, XRP, bitcoin cash, litecoin, EOS, BNB, ADA, TRX and XLM. ETH/USD is now trading below USD 150 and it could continue to move down towards USD 140. Besides, XRP/USD is likely to revisit the main USD 0.202 support area in the near term.

Total market capitalization

Recently, bitcoin price extended its decline below the USD 7,250 and USD 7,200 support levels. BTC/USD tested the USD 7,080 level and it is currently consolidating losses. The current price action is bearish and it seems like there could be more downsides below the USD 7,020 and USD 7,000 support levels.The next major support is near the USD 6,850 level, below which the price could even revisit the USD 6,550 support area. On the upside, there are many resistances for the bulls near USD 7,200, USD 7,280 and USD 7,350.

Ethereum price is now trading below the USD 152 and USD 150 resistance levels. ETH/USD is declining and it is likely to test the USD 140 support area. Any further losses may perhaps push the price towards the USD 135 level.On the upside, the USD 152 and USD 150 are important hurdles. A clear close above USD 152 is needed for a strong rise in the coming sessions.

Bitcoin cash price is down more than 4% and it failed to clear the USD 220 and USD 225 resistance levels. BCH/USD is now approaching the main USD 200 support area. If the bulls fail to protect the USD 200 handle, the price could dive towards the USD 182 support area. On the upside, an initial resistance is near USD 215, followed by USD 220.Litecoin is sliding below the USD 45.50 and USD 44.50 support levels. LTC/USD is likely to accelerate lower toward the USD 40.50 and USD 40.20 support levels. On the other hand, a successful break above USD 45.50 is needed for a recovery.XRP price started a fresh decline below the USD 0.220 support area. XRP/USD traded below USD 0.215 and it seems like it could even trade below USD 0.212 and USD 0.210. In the mentioned case, the price is likely to revisit the USD 0.202 support area.

In the past three sessions, a few small capitalization altcoins extended their decline more than 5%, including RLC, QNT, MOF, FET, KMD, LUNA, ZEN, EKT, ATOM, DGD, IOST and TRX. Out of these, RLC dived around 12% and QNT is down close to 11%.

Overall, bitcoin is under pressure and it could even break the USD 7,000 support area in the coming sessions. Conversely, BTC/USD must gain pace above USD 7,350 and USD 7,400 to start a strong upward move._____

See more here:

Bitcoin and Altcoins Gaining Bearish Momentum - Cryptonews

San Francisco-based finance firm SoFi today announced that it has successfully obtained a BitLicense from the state of New York. The states blessing allows SoFi to begin acting as a virtual currency and money transmitter, and enables the companys clients in New York to begin trading crypto through its platform.

In September, the firm, which built its business in traditional finance and student-loan refinancing, announced a pivot to crypto, opening up Bitcoin, Ethereum, and Litecoin trading to its US-based customersbut excluding those in New York and New Jersey.

But that changes today given the approval SoFi received from the New York State Department of Financial Services (DFS). SoFi customersincluding those located in NYCcan now buy, sell, and trade crypto through an active partnership they have with Coinbasethe largest and most popular cryptocurrency exchange in the United States. In a release, the DFS stated that SoFi is now authorized to support the virtual currency trading in the state for Bitcoin, Bitcoin Cash, Etherum, Ethereum Classic, Litecoin, and Stellar Lumens.

DFS is committed to fostering innovation in New Yorks vibrant virtual currency sector and ensuring its competitiveness as a market for new entrants, DFS Superintendent Linda Lacewell said in a statement. Lacewell added that the approval of SoFis BitLicense provides consumers with more choices in a continuously evolving global financial services marketplace.

SoFi CEO Anthony Noto echoed the sentiment in a statement and added that the move not only allows the company to provide its clients based in New York with the products they want but also in a way that protects them through a solid regulatory framework like that created by the [DFS].

Be the first to get Decrypt Members. A new type of account built on blockchain.

Its worth noting, however, that not every company in cryptoland shares this same opinion. When New York first introduced its BitLicense regulatory regime in 2015, many companies warned that the requirements were much too invasive and onerous, causing numerous startups, such as ShapeShift and Kraken, to flee the state.

Nevertheless, SoFi now becomes one of more than a dozen companies to receive a BitLicense to offer crypto-based services in New York.

Read the original here:

SoFi gets New York BitLicense, set to offer crypto trading in the state - Decrypt

As at 2019-12-01 average Bitcoin Cash price is 216.37689546 USD, 0.02924398 BTC, 1.43410276 ETH.

In this regard, 24 hour trading volume is 1108192787.29240000 USD or 149775.54622376 BTC. At the same time Bitcoin Cash market capitalization is 3925807155 USD or $530584 BTC.

Bitcoin Cash BCH/USDT on Binance exchange is 214.07. The trading volume on Binance is 9777476.00.

At the same time Bitcoin Cash BCH/USD on Kraken exchange is 213.90. The trading volume on Kraken is 1011493.00.

Bitcoin Cash BCH/BTC on Bittrex exchange is 213.76. The trading volume on Bittrex is 65239.00.

Bitcoin Cash BCH/USD on Coinbase Pro exchange is 213.82. The trading volume on Coinbase Pro is 3070134.00.

Bitcoin Cash BCH/USDT on Huobi Global exchange is 214.17. The trading volume on Huobi Global is 23810536.00.

Bitcoin Cash average change within 24 hour is -0.4 against USD, 0.79 against BTC, -0.4 against ETH. Weekly report: 5.35 against USD, 0.12 against BTC, 0.77 against ETH. Monthly report: -21.33 against USD, -1.78 against BTC, -4.71 against ETH.

Its noteworthy that is issued into circulation Bitcoin Cash.

See original here:

Bitcoin Cash Price Changed by -0.4 percent - ICO Brothers

In the past three sessions, bitcoin price mostly traded in a range below the USD 7,350 and USD 7,400 resistance levels. BTC/USD could start another bearish wave below USD 7,200 if it continues to face resistance near USD 7,400.Similarly, most major altcoins traded in a range with a minor bearish angle, including ethereum, XRP, bitcoin cash, litecoin, EOS, BNB, ADA, TRX and XLM. ETH/USD is struggling to climb above the USD 150 and USD 152 resistance levels. More importantly, XRP/USD is under pressure and it is facing hurdles near USD 0.220 and USD 0.222.

Total market capitalization

After testing the USD 7,200 support area, bitcoin price made another attempt to climb above the USD 7,350 and USD 7,400 resistance levels. However, BTC/USD failed to gain momentum above the USD 7,400 level and it is currently (09:00 UTC) trading in a range.To start a strong upward move, the price must break the USD 7,350 and USD 7,400 resistance levels. If not, there is a risk of another bearish wave below the USD 7,200 and USD 7,150 support levels in the near term. The next major support is near USD 6,950 and USD 6,850.

Ethereum price is struggling to surpass the USD 150 and USD 152 resistance levels. Once ETH/USD climbs above the USD 152 resistance, it could continue to rise towards the USD 158 and USD 160 resistance levels. On the downside, an initial support is near the USD 147 level. If there is a downside break below USD 147 and USD 145, the price may perhaps revisit the USD 135 support area.

Bitcoin cash price is moving higher and it is trading above the USD 205 and USD 200 support levels. On the upside, BCH/USD must break the USD 220 and USD 225 resistance levels to set the momentum for a surge towards the USD 250 resistance area. Litecoin is still trading in a range above the USD 45.00 support area. On the upside, LTC/USD is facing barriers near the USD 47.50 and USD 48.50 levels. The main resistance is still near the USD 50.00 level. On the downside, a break below the USD 44.50 level could push the price towards USD 40.50.XRP price failed to stay above the USD 0.222 and USD 0.220 support levels. XRP/USD is currently declining and it is trading below USD 0.220. To move into a positive zone, the price must settle above USD 0.222 and gain pace above USD 0.225 in the near term.

In the past three sessions, a few small capitalization altcoins climbed more than 5%, including SNX, RVN, IOST, MIN, MATIC, DGD, KMD, MKR, ZIL and QNT. Out of these, SNX rallied around 20% and RVN is up more than 15%.

Overall, bitcoin could only start a strong recovery once it settles above the USD 7,400 resistance. The next major resistances are USD 7,550 and USD 7,650. If not, it is likely to revisit the USD 6,850 support area in the coming sessions._____

Originally posted here:

Bitcoin and Altcoins Topside Bias Vulnerable - Cryptonews

Bitcoin Cash BCH is a household name in the cryptocurrency world. Its never far from being in the top five cryptocurrencies by market capitalization. But in the grand scheme of things, its not that old. Bitcoin Cash was created in August 2017.

In response to Bitcoins scalability challenges, its blockchain was hard forked to create a new coin, called Bitcoin Cash. Its creators wanted to create a cryptocurrency that acted as close to a digital version of cash as possible. It wanted to reduce the comparatively high transaction fees associated with Bitcoin to make everyday use of cryptocurrency a more achievable reality.

Bitcoin Cash tries to do this with larger block sizes, which means more transactions can be mined per block, in theory reducing confirmation times and increasing the speed of transactions.

However, this didnt last for that long. Further infighting and disagreements meant Bitcoin Cash itself forked in August 2018, resulting in two different blockchains. Bitcoin ABC (supported by Roger Ver and Bitmains Jihan Wu) and Bitcoin Satoshi Vision (from Craig Wright).

Based on the stance most cryptocurrency exchange desks took, Bitcoin ABC continued to be recognized as Bitcoin Cash. Bitcoin ABC/Cash continues to use the BCH price ticker while Bitcoin SV uses BSV.

As you might expect, given its close relationship to the OG cryptocurrency, BCHs market performance is never too far from Bitcoin. But lets take a look at how Bitcoin Cash has performed recently.

Bitcoin Cash first came to market in late 2017, just in time for the infamous bull run that lasted until February 2018.

As with most cryptocurrencies, Bitcoin Cash is yet to see the highs it saw in 2017 again, and has generally been on a downward trend ever since.

Bitcoin Cash had one up swing in trading price during April 2018, where its price shot up from $643 to $1,683 over the course of the month. A year later, at the end of April 2019, Bitcoin Cash was trading at around $293, a staggering 83-percent drop.

The cryptocurrencys performance for most of 2019 has been somewhat uneventful. On June 16, Bitcoin Cash reached its 2019 high, when it was trading at $487.

Bitcoin Cash had a positive end to Q2, but that trend didnt continue into Q3.

Across the first two weeks of July 2019, Bitcoin Cashs trading price dropped from around $403 on July 1, to around $283 on July 16.

In the context ofcryptocurrencyvolatility, this 30-percent drop is a somewhat minor price correction. Across the winter of 2017 to 2018,BitcoinCash saw its price tumble by over 75 percent.

After this market correction, Bitcoin Cash recovered enough to trade sideways for most of August.

On August 5, Bitcoin Cash reached a monthly high of $333, a notable 18-percent increase on the low it saw just a few weeks earlier.

However, that was as good as it would get for the digital coin in Q3. For the rest of the quarter Bitcoin Cash had a few price fluctuations, but it would close a long way down on where it opened.

At the end of August, another albeit minor price correction saw the cryptocurrencys price drop by 11 percent from $304 on August 27 to $270 on August 31.

Bitcoin Cash did manage to stave off the doom and gloom for a little while longer though. In the first three weeks of September a steady price rally saw the coins price rise from its end of August low to a monthly high of $322 on September 18.

Unfortunately, on September 19Bitcoin, Cashs price began to tumble as the coin witnessed another sizable market correction.

On September 26, Bitcoin Cash was trading at just over $216, a 33-percent drop on where it was trading just a week earlier.

Bitcoin Cash showed no signs of recovering in the final days of the quarter. On September 30, the coin was trading at $223, 45-percent down on where it opened Q3.

Perhaps the most notable news forBitcoinCash last quarter came in September, when it was announced thatBitcoin.com was looking to launch a derivative for the cryptocurrency.

The timing of this news actually coincided with the small rally Bitcoin Cash saw in September, however, it wasnt enough to encourage any kind of sustained growth.ABitcoinCash futures contract would be a long way off, and would need to overcome numerous regulatory hurdles before launching. Bakkt has done it for Bitcoin, so its not out the question that others will follow.

In early July, Scottish alternative punk-infused brewery Brewdog announced that it would be offering shares in its company, through its long-running equity for punks scheme, in exchange for cryptocurrency including Bitcoin Cash.

In the same week, Swiss fintech firm Amun AG announced a Bitcoin Cash exchange traded product, listed on the Switzerland-based stock exchange Six.

Neither of these announcements appear to have had any positive effect on the cryptocurrencys trading price in the short term.

Its been a shaky start to the last quarter of the year for Bitcoin Cash. for most of October it has been trading sideways with no notable price swings.

However, this weeks news thatcryptocurrencyminingmainstay Bitmain had fired one of its co-founders, who was also the largest stakeholder in the business, is likely to garner interest from Bitcoin Cash fans.

The announcement was made internally to Bitmain by the companys head Jihan Wu, a longtime supporter of Bitcoin Cash. In the hours following the news, Bitcoin Cashs price increased by 10 percent.

Indeed, while this might be good news in the short term for Bitcoin Cashs trading price, the long term impact remains uncertain.

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Published October 29, 2019 13:25 UTC

Read the original post:

Bitcoin Cash's Q3 performance was horrid here's what happened - The Next Web

The post originally appeared on Medium and we republished with permission from Unwriter.

Disclaimer: Before I go in, I want to say, if you are a Bitcoin application developer who happen to belong to any of the groups or organizations I am about to criticize here, I have nothing personal against you. I know all your hearts are in the right place. Its your group thats messed up, not you personally. Remember, you have choice. You can get out. I actually would like for you to read my post, step back, and think about why you are here. I would love to be on the same team as you, collaborating. What we have created so far with Bitcoin Cash is too precious to throw away. And this is why I speak.

From November 15 to 26 the Bitcoin Cash network went through its most important experiment since the inception of Bitcoin itself.

The so-called Bitcoin Hash War lasted about two weeks and moved in a direction that many people didnt expect Many people expected Bitcoin SV to make an aggressive re-org attack but that never happened. However what came out of the other side is the problem I will discuss in this post.

Bitcoin ABC was so afraid of an imaginary attack from SV that they made all kinds of mistakes, writing permanent code in rapid fire releases to the point where what they stand for is no longer recognizable.

And THIS ABCs self-inflicted scars that will forever exist immutably on the blockchain has led to a blockchain I can no longer build on.

I normally dislike writing because I would rather spend time building, and I prefer showing by doing, but at this time I realize I am in a very unique position of being the ONLY developer in the entire Bitcoin Cash ecosystem who has deliberately stayed politically unbiased, so I decided to contribute to the next phase.

Who is _unwriter?

First some background, heres who I am:

I work on two useful infrastructure projects in Bitcoin Cash ecosystem:

1. BitDB: Decentralized Database for Bitcoin https://bitdb.network

2. BitSocket: Realtime Message Bus for Bitcoin https://bitsocket.org

They power bitcoin applications such ascraft.cash,oyo.cash,trends.cash,matter,simple ledger protocol,memopay.xyz, and many more you probably have heard of at least once if youre a Bitcoin Cash user.

Next, about my identity. I proudly have exactly zero moral hazard. I have exactly zero conflict of interest. I am unaffiliated with ANY of the actors in the Bitcoin Cash ecosystem. There is exactly 0 person who knows who I am. Nobody has met me, nobody knows my voice, nobody funded me, I took donations from nobody, I have zero debts from anyone in the Bitcoin Cash ecosystem, both figuratively and literally.

I have only created what Bitcoin needed, and will continue to do so. There are some very exciting projects on the way I will soon release. And you will learn that BitDB, Bitquery, and Bitsocket have just been preludes to what Im actually trying to build.

Lastly, I am expressing myself here NOT as a follower, but as a chooser. I am choosing the blockchain I choose. I only pick the most superior blockchain because my projects deserve better.

Is this enough credibility for you? Or are you going to call me a shill and close this page? If you are a rational person, at least try to read till the end, because all I want is to collaborate with all of you and move forward in the right direction instead of fighting. And no matter which situation youre in, its not too late. You decide.

The importance of Capitalists in Bitcoin

I posted a public message to Bitcoin application developers last week:

The application developers are the capitalists of the nation of Bitcoin. And THEY are the ones who determine the wealth of the nation. Wise capitalists dont follow the herd. They notice opportunities and act on them.

I have been saying this that Bitcoin needs to attract application developers and the only way to do so is by signaling dedication to scalability, stability and openness instead of adding some new feature from the beginning. Below is an excerpt from an interview from back in July:

Note the last sentence in the excerpt:

they dont want to wake up one day to find that the rules of the game have changed overnight and all their effort has gone to waste.

And indeed, the rules of the game have changed in Bitcoin Cash. It is no longer the Bitcoin I signed up for.

Is Bitcoin Cash the real Bitcoin?

There is something very wrong with Bitcoin Cash ABC and its community today. There is too much misinformation out there, and people seem too willing to believe anything if it comes from some influencer guy who they see as respected by the community, even when they have no idea why they are respected by the community in the first place.

In this article I will explain what ABC has irreversibly turned itself into:

1. Censorable

2. Centralized

3. Unstable

4. Death of Permissionless Innovation

5. Anti Bitcoin Maximalist

I hope my perspective will be helpful for many application developers out there who are still confused about what they should do going forward.

Rid yourself from social obligations and social pressure. If your ideas are influenced by your employer, social clique, or by your past behaviors, try to be aware of this and think independently. You have choice. You can even leave your job and get a new one if you realize your employer doesnt stand for what you signed up for when you got into Bitcoin.

Just think about WHY you are here in the first place.

That said, what IS wrong with Bitcoin ABC?

1. Censorable

Heres a serious issue most ABC supporters seem to deliberately ignore out of cognitive dissonance, or because of misinformation.

Bitcoin Cash ABC has effectively become censorable. Yes, the very quality Bitcoin stands for censorship resistant money is dead on the ABC chain. you just cant see it yet.

The manner in which the centralized checkpointing was executed throughout the war should be a serious risk to any developer considering building on top of Bitcoin ABC.

This whole scheme of centralized checkpointing was powered by a cartel of crypto exchanges behind closed doors. This is not only immoral (in terms of Bitcoins morality), but potentially illegal AND makes the coin vulnerable even in the real world sense. And it is this real world aspect I would like to discuss, since this is a very real risk. Morality is subjective, but risk is real.

Heres a recorded livestream video where they explain, step by step, how this capture the ticker mission was accomplished by a cartel of ABC developers and crypto exchanges (instead of through Proof of Work):

Whats interesting about this centralized checkpoint is that it provides both the reason AND the means for a powerful adversary to take down the network in the future. They simply need to attack the associated ABC cartel, leveraging the centralized checkpoint to do whatever they want to the chain once compromised. And you wouldnt even know what went on as a user.

Of course I can already hear many people saying Shut up you shill, thats all just theory and is unlikely to happen!, but if you know anything about crypto or security, the rule of thumb is to be always paranoid than sorry, because crypto never forgets. And blockchain never forgets. A vulnerability once created never goes away.

Another rule is, where there is vulnerability there will be exploit. This is inevitable. Its just a matter of when. If you dont believe me, just ask Ethereum, their infamous DAO hack vulnerability had been known for a while but nobody thought it would actually happen for whatever reason.

Until it did.

Remember, if it can happen, it WILL happen, especially if its related to money and security.

Another lesson we can learn from Ethereums DAO hack is how the Ethereum team handled the hack afterwards.

Instead of moving on without messing with the economy, the core Ethereum team and the insiders decided to bail out the casualties of the hack, thereby saving some of the important early members of the Ethereum community.

This is why ETH and ETC (Ethereum Classic) split into two. ETC made up of people who believed in the principle, and ETH made up of people who have made a compromise. This demonstrated how a centralized protocol development team can play Keynes and roll back the ledger through powerful oligarchic actors conspiring with one another.

And this is where a lot of early Ethereum investors lost faith in the project.

It had turned into crony capitalism, as can be seen in the excerpt below:

I hope some of you are starting to see the parallels by now.

So, after all this, obviously I dont feel comfortable building my entire infrastructure empire on top of something that can be seized by various unknown gatekeeper adversaries without me even realizing whats going on.

Maybe not today, maybe not tomorrow, but if it can happen, it WILL happen, even if its after decades. Its just a matter of time. Thats NOT sound money. Its money with insecurities.

Ask yourself: Why would I want to build on something that can go down or be manipulated just like that one day? I am building something that will last forever, so this is already game over in my eyes.

2. Centralized

There are many aspects of centralization, but here I will only discuss the protocol development centralization which ABC has finally achieved through this war.

In the past you may have heard some anti bitcoin cash people criticize how Bitcoin Cash development is centralized. To be clear, this has never been the case, at least until this hash war. There were plenty of developers working on multiple implementations that follow the same Bitcoin Cash protocol, such as Bitcoin ABC, Bitcoin Unlimited, Bitcoin XT, Bitprim, Flowee, etc.

But today, while these multiple implementations still DO exist and may even look like they are doing fine, they will only exist as ghosts of their past.

As of today, no one can deny the reality that the only client that has the ultimate power in Bitcoin Cash is Bitcoin ABC. Everyone else has become decimated to the point where they simply function as a follower client. ABC doesnt even need to discuss anything with the other teams. They can simply add new features arbitrarily in a permission-less manner, and push it out.

You can see this in action with the last couple of releases where ABC has added adjustable checkpoint system (with a default of 10 blocks) WITHOUT even consulting any other developer team. You can watch the outrage over at Bitcoin Unlimited forum:

Theres an internal conflict going on there those who are too deep in the game with ABC that they fail to see the problem, and those who are calling them out but I dont think this will have any effect because these people have no influence under the new Bitcoin ABC puppet state regime.

3. Unstable

Bitcoin ABC is no longer sound money. There are so many things, but Ill just list out a few that make it a dealbreaker for me:

First, these various reactionary amendments written into the constitution of Bitcoin Cash in order to defend against some imaginary attacks from Bitcoin SV that may or may not have even existed should be a huge red flag. The war started last week with version 0.18.1, but after just a week its already at 0.18.5. And according to their development repository, theyve already finished 0.18.6 last week. So well probably see another release soon.

Second, these amendments have added needless technical debt and serious security vulnerabilities, which is why theyve been releasing patch after patch to fix the bugs they introduced with the patch before. The reckless rapid fire releases resulted in the network being split among multiple nodes, each with different versions of rules (Im only talking about ABC clients, imagine what this means for other clients like Bitcoin Unlimited who have to keep up with following these patches every day to stay in the game. And as far as I know, Bitcoin Unlimited was the only client that has even attempted to follow ABCs continuous delivery).

I think these follower node developers (Bitcoin Unlimited, etc.) may have some irrational hope that this power dynamic will change somehow in the future, but this time its different. Youve lost the moment you let ABC upgrade with a centralized checkpointing system and conspire with external actors to execute on their goal. You have not given power to ABC, but to external centralized actors.

Lastly, now with Bitcoin SV gone and no one to provide checks and balances, theyre happily adding all kinds of bells and whistles to Bitcoin. For example, here you see the code for Avalanche also known as the infamous Pre-consensus on their master branch.

I know many ABC supporters will say this is not really a big deal because its just being used for mempool synchronization, but you have no idea what kind of economic implication this will have. Economics is subtle, this is why classical and Austrian economists always say When in doubt, Laissez-faire. Things like this is whats called Keynesian and ABC is working very hard to achieve that status.

Unlike changing the block size limit, something like Avalanche changes the entire dynamic between the mempool and the blockchain, which is directly related to miners incentive, and one would be lying if he claimed to know exactly how this will turn out economically.

The first time Europeans brought gold from their foreign colonies they had no idea that would cause inflation. They just thought they would become rich. Obviously, you have more gold you become rich, right? And they did become rich, in the short term at least. But then inflation happened, and nobody knew what was going on.

Same with Bitcoin. Just because mempool becomes faster, doesnt mean youve succeeded. If the mempool synchronization becomes 1000 times faster but it completely messes up the economics of Bitcoin, its effectively a useless ledger. Congrats, you can now experience its uselessness 1000 times faster.

And dont forget, this is not something you can just complain about and it will go away. This Avalanche feature was the main reason why this entire hash war happened (also known as pre-consensus):

ABC cant give up on this feature because if they do, then it will be admitting they didnt know what they were doing. And that will mean they have lost everything for nothing. This is why they will very likely go ahead with this, and when this happens, one of the two scenarios will happen:

1. The community follows blindly so as not to rock the boat (Just like how the entire BTC camp is betting on Lightning and choosing to ignore all the red flags)

2. Some may DEFINITELY not like the change and decide to fork off again, therefore reversing adoption one more time (See the Bitcoin Unlimited forum for the early signs https://bitco.in/forum/threads/gold-collapsing-bitcoin-up.16/page-1301) But too late, ABC already has added all kinds of baggage and will have added even more by the time you realize you need to fork off.

Well, good luck to you, and I wish you the best with your coin, but either way its too unstable, and this is not Bitcoin.

And I only build on Bitcoin.

4. Death of Permissionless Innovation

One of the talking points of Bitcoin ABC camp has been Permissionless Innovation. Ironically, Bitcoin ABC is no longer a place for permissionless innovation either.

While everyone on team ABC seems to be very happy that they got the BCH ticker and proudly say the war was over even before it had started because of their coordination with the exchange cartel, they dont realize it is EXACTLY this point that makes Bitcoin ABC a deal breaker for any pragmatic application developer.

They have effectively turned themselves into crony capitalism blockchain.

What ABC has done by very successsfully pulling off this capture the ticker mission is they have demonstrated a textbook example of how a protocol developer can conspire with outside actors (a cartel of exchanges and centralized miners) to enforce centralized consensus, and do it so effectively that it even overrides the competition with a decentralized hash power. There exists no checks and balances, only the illusion of it.

This is pretty scary if you think about it. I know many people are afraid of centralization, but this is worse than centralization because it has the illusion of decentralization to the public yet it is centralized where no one can see it.

At least in centralized platforms they are completely transparent about their centralizedness, but crony capitalism looks just like capitalism to the outside world and crony decentralization looks just like decentralization to the outside world.

This means now you have to play politics and play nice with exchanges, miners, and the companies that control access to these actors such as Bitcoin.com, Bitmain, and Bitcoin ABC they are effectively the consensus makers.

It is exactly like the world you live in today, full of corruption. And Bitcoin was supposed to fix that.

I dont want to invest my time and resources working on a platform that can easily undermine my permissionless innovation anytime. For example, if you happen to build anything that competes with wormhole, expect it to get sidelined in various subtle ways, so subtle that you wont even realize it until it just hits you in the form of an ABC protocol update.

As an application developer, whatever you build can be overridden by this opaque cartel, just like how Twitter can always steer their open API to block their potential competitors from competing on equal terms on Twitter. (See Meerkat vs. Periscope)

And whats worse, the users will not even care that youre dead, they will witch hunt you and even try to silence you because they dont want to stir the pot and make the coin price go down. They will prefer the gatekeepers just win the war and carry on with no hiccup to the outside world. You can already see a glimpse of this in Reddit r/btc today.

Originally posted here:

The resolution of the Bitcoin Cash experiment - CoinGeek

Bitcoin Cash(BCH) has been in the crypto market from August 2017, It was a result of Bitcoin Hard Fork. However, it is not widely accepted as Bitcoin or altcoins like ETH or XRP. Nowadays, the BCH network has come into notice again as its Halving news has resurfaced. Bitcoin Cash Halving is estimated to occur in May 2020.

It is the event where the number of generated Bitcoin Cash rewards per block will be divided by 2. The total number of Bitcoin Cash mined by miners per block will reduce from 12.5 to 6.25 BTC.

The Halving is about to occur in less than 160 days. The general estimation is that Bitcoin Cash prices will increase after halving as the amount of minted coins decreases. However, traders can expect volatility during this period while miners will earn lower mining rewards.

Director of BD at the Kraken exchange, Dan Hedl said that Bitcoin Cash Halvening will be catastrophic for Bcash. Also, the attack rate on BCH is estimated to increase by 51%.

That doesnt sound like a bad business model but as new mining machines enter the game, so the game gets harder. In other words, the halving could just make an existing problem worse. However, as a Hodler, the Halving would be deemed as beneficial.

Go here to see the original:

Bitcoin Cash First Halving Countdown Begins, To Happen in May 2020 - Coinpedia

The cryptocurrency market exhibited some major upswings this week with the pricerising over 10% for most cryptos. Lets take a look at our select cryptocurrencies BCH, NEO and XRP and see what the charts have in store for us.

BCH/USD pair has turned out to be the third-best performing crypto with a bullish outlook. BCH is up by 6.8%, after having escalated from $253.20 to $271.54 that showed bullish sentiments over the intraday. Additionally, a bullish trend line has formed on the hourly chart that confirmed intense buying pressure. Thus, failure for the pairs price to dip below $254.57 critical support level signifies that the altcoin might continue higher. Looking at the technical, both moving averages are signaling a positive outcome since they are now below the price. The RSI is also trading above average that indicates increasing interest in buying.

An upside break above $274.81 resistance level may extend the bullish rally towards $285.00 level. However, if the price bounces back from $274.81 level, the bears might make an attempt to scale below $250.00.

Unlike BCH, NEO/USD pair has been trading on a range-bound between $13.00 and $10.85 levels with a bearish performance, which has reduced investors sentiments over the last 24hrs. The coin has succumbed to losses with a slight drop of about 2.4% after moving from $11.17 to $10.90, the current price. Afterward, the pairs price first saw an upside rally to a high of $13.65, but the bulls later reverse the trend and fluctuated the price momentum south ways. That showed strong selling pressure coming from sellers. Besides, the long-term SMA has managed to cross above the short-term SMA, and the RSI is heading south towards the oversold zone. This shows a high possibility for a further decline in the near term.

A downside break below the lower channel, which is support level could further extend losses towards $9.00 0r $8.5 level.

Like NEO, XRP/USD pair has also been on a tight range between $0.305 and $0.294. That confirmed a state of equilibrium between the buyers and sellers. Thus, XRP coin has shown no much of activity over the last 24hrs. Hence a strong breakout is expected in the near term. Despite the indecisiveness, the technical have indicated a bearish outlook, with both moving averages giving out a bearish crossover and the RSI trading below average. This shows that the bears are stronger than the bulls. However, if the bulls fight and push the RSI up to trade above average, they can prevent expected downside correction. Therefore, more buyers are needed in the market to recover some momentum.

A fall below $0.294 level may extend towards $0.100 level. However, if the price finds strong support near $0.294 and bounces back up to breach $0.305 level. Then a new uptrend can be seen with an imminent resistance level near $0.400.

Cryptocurrency Charts By Tradingview

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.

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Bitcoin Cash, NEO and XRP Price Prediction and Analysis for October 29th - NullTX

Recently, BitMEX Research published a report detailing Bitcoins block timestamp protection rules, ones designed to stop nefarious miners from manipulating block timestamps and achieving unfairly high mining rewards. The report also discusses certain constants that were chosen and how those values could have particular implications for Bitcoin Cash.

According to the BitMEX research team, if too many miners join or leave the network, block times could become too fast or too slow, making the network unreliable. When a block is produced on Bitcoin, a timestamp is placed in the header by the miner and the actual time at which the block is produced is stored in the block itself.

If miners manipulated block timestamps, they could make it seem as if the difficulty needs to be adjusted to maintain the 10-minute rule for mining blocks, by either making it seem as if it took longer or shorter time to mine those blocks. To mitigate this risk, Bitcoin introduces two mechanisms to protect itself against this manipulation.

The first one, the Median Past Time Rule, states that the timestamp must be further forward than the median of the last eleven blocks. This median implies that even if six blocks are re-organized, time would still not move backwards. It is also consistent with the example provided in Meni Rosenfields 2012 paper, which shows that six confirmations are necessary to decrease the probability of success below 0.1% for an attacker with 10% of the network hashrate.

The other rule is the Future Block Time Rule, which essentially makes sure the timestamp cannot be set to more than a constant time ahead (2 hours), relative to the median time for the nodes peers. Further, another safeguard is that the maximum allowed gap between the time provided by the nodes and the local system clock is 90 minutes. However, unlike the MPT rule, this rule is not a full consensus rule as blocks with a timestamp too far ahead in the future are not invalidated, and can become valid as time moves forward.

Rule number one ensures that the blockchain continues to move forwards in time and rule number two ensures that the chain does not move too far forwards. These time protection rules are not perfect, for example miners could still move the timestamps forward by producing timestamps in the future, within a two week period, however the impact of this would be limited.

The report added that these rules have proven reasonably effective in preventing miners from manipulating Bitcoin timestamps. Bitcoin Cash however, is a different story. Since the Emergency Difficulty Adjustment model was replaced by a more simple rolling 24-hour system, though it is faster to resolve block time discrepancies, it is more susceptible to them than Bitcoin.

For Bitcoin, the 2-hour limit is only 0.6% of the 2 weeks it takes for a difficulty adjustment. On Bitcoin Cash however, the 2 hours become 8.3% of the 1 day it takes for a difficulty adjustment. According to the researchers, this appears to be potentially significant and if exploited, could result in changes to miner profitability.

Bitcoin Cash may therefore be somewhat vulnerable to miners manipulating timestamps, or at least more vulnerable than Bitcoin. On the other hand, although Bitcoin Cash may be more vulnerable to miner timestamp manipulation attacks than Bitcoin, any issues will be resolved faster.

Researchers also commended Satoshi Nakamoto for being able to think so far ahead 10 years ago, before anyone had any experience with building a blockchain.

Read this article:

Bitcoin Cash more vulnerable to timestamp manipulation than Bitcoin: BitMEX Research - AMBCrypto

Nov 01, 2019 at 11:57 // Price

Bitcoin Cash Price Analysis: BCH breaks out of its consolidation and commences a bullish movement. BCH will resume its uptrend once the price breaks the previous high of $300.

Bitcoin Cash price Long-term forecast: Bullish

Recently, the Bitcoin Cash price has continued to make an impressive move in the direction of the previous highs. Presently, the market is facing resistance to a significant area of the price zone. In retrospect, the bears were on this critical price level on three occasions before the price zone was breached. Later sellers resumed as the price fell to a low of $200. Nonetheless, BCH has risen again to retest the previous highs.

However, Bitcoin Cash's continual rise will be determined if the previous high of $300 is violated. Two days ago, the coin has been making frantic efforts to violate the $300 previous high. The market will rise and reach the highs of $360 or $400 on the condition the bulls overcome the $300 price level. Nonetheless, BCH may be compelled to a sideways trend if the bulls fail to break the previous high of $300.

The horizontal channel was broken as the market continues its rise. The RSI levels 68 signal that price is in an uptrend. The EMAs have a bullish crossover as the blue line crosses over the red line indicating a price rise.

The coin is rising as the bulls continue to push the price to previous highs. All the daily indicators are signaling an upward movement in favor of Bitcoin Cash. The market will maintain its rise if the price pushes through the previous high of $300. Conversely, the coin will fall and trade below the $300 price level.

Key Supply Zones: $320, $360, $400

Key Demand zones: $200, $160, $120

Disclaimer. This analysis and forecast are the personal opinions of the author 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.

Read more:

Bitcoin Cash Retraces and Attempts to Retest the Previous High of $300 - Coin Idol