Reddit Aims to Relaunch Bitcoin Payments with ETH and LTC Too
Social media platform Reddit is planning to reinstate cryptocurrency as a payment option for its gold members - and this time bitcoin won't be the only option.
The site's chief technology officer, Chris Slowe, said that, while bitcoin's spiking transaction fees and an integration issue with its cryptocurrency payments processor Coinbase had led to Reddit dropping bitcoin as a payment method in March, the option is likely to return once the platform has completed a redesign.
Social media platform Reddit is planning to reinstate cryptocurrency as a payment option for its gold members - and this time bitcoin won't be the only option.
The site's chief technology officer, Chris Slowe, said that, while bitcoin's spiking transaction fees and an integration issue with its cryptocurrency payments processor Coinbase had led to Reddit dropping bitcoin as a payment method in March, the option is likely to return once the platform has completed a redesign.
While this month may traditionally give equity bulls cold feet, it should probably not be a cause of worry for the bitcoin market.
Historical data suggests that bitcoin is more likely to build upon its April rally this month.
Notably, the world's largest cryptocurrency by market capitalization has scored gains in the month of May in five out of the last seven years.
Clearly, history is on the bulls' side. Further, the seasonality analysis only adds credence to the bullish set up as seen in the bitcoin chart below.
Historical data suggests that bitcoin is more likely to build upon its April rally this month.
Notably, the world's largest cryptocurrency by market capitalization has scored gains in the month of May in five out of the last seven years.
Clearly, history is on the bulls' side. Further, the seasonality analysis only adds credence to the bullish set up as seen in the bitcoin chart below.
The bull pennant breakout could see the recent rally from the April low of $6,425 (Bitfinex price) extend to $10,000 or even higher.
The cryptocurrency has been restricted to a narrowing price range for more than a week and has spent a better part of the last 12 hours trading between $9,150 and $9,300.
As the technical theory has it, the longer the duration of the consolidation zone, the more violent the breakout tends to be. So, BTC could move well above the $10,000 mark in an hour or two post-breakout, if the bulls gain the upper hand.
On the other hand, a downside break would open the doors to $8,490 (38.2% Fibonacci retracement of the rally from $6,425 to $9,767.4).
Only a daily close below $7,823 (April 17 low) would signal a bear revival.
The cryptocurrency has been restricted to a narrowing price range for more than a week and has spent a better part of the last 12 hours trading between $9,150 and $9,300.
As the technical theory has it, the longer the duration of the consolidation zone, the more violent the breakout tends to be. So, BTC could move well above the $10,000 mark in an hour or two post-breakout, if the bulls gain the upper hand.
On the other hand, a downside break would open the doors to $8,490 (38.2% Fibonacci retracement of the rally from $6,425 to $9,767.4).
Only a daily close below $7,823 (April 17 low) would signal a bear revival.
Looks like upside break of the pennant pattern is a done deal. #BTC is now trading above $9,400
Ethiopian Gov’t Signs Agreement With Cardano To Introduce Blockchain In Agritech
The Ethiopian government has recently signed a memorandum of understanding (MOU) with cryptocurrency startup Cardano (ADA). The agreement will see Ethiopian developers apply blockchain technology to the country’s agritech industry.
CEO and founder of Cardano Charles Hoskinson confirmed the move in a tweet. Hoskinson stated that the agreement with the Ethiopian Ministry of Science and Technology includes training local developers to use blockchain technology.
The Ethiopian government has recently signed a memorandum of understanding (MOU) with cryptocurrency startup Cardano (ADA). The agreement will see Ethiopian developers apply blockchain technology to the country’s agritech industry.
CEO and founder of Cardano Charles Hoskinson confirmed the move in a tweet. Hoskinson stated that the agreement with the Ethiopian Ministry of Science and Technology includes training local developers to use blockchain technology.
#BTC
OUTLOOK: Bullish
Bull pennant breakout confirmed
5DMA, 10DMA trend north, indicate bull setup
Looks set to test 200DMA of $10,016
Bull invalidation below $9,292
OUTLOOK: Bullish
Bull pennant breakout confirmed
5DMA, 10DMA trend north, indicate bull setup
Looks set to test 200DMA of $10,016
Bull invalidation below $9,292
#BTC
OUTLOOK: Bullish
Pennant breakout indicates BTC will likely find acceptance above the inverse head-and-shoulders neckline and rally to $10,500 - $10,700 (Dec. 22 low on Bitfinex).
Close below the ascending 10-day MA would neutralize immediate bull outlook
OUTLOOK: Bullish
Pennant breakout indicates BTC will likely find acceptance above the inverse head-and-shoulders neckline and rally to $10,500 - $10,700 (Dec. 22 low on Bitfinex).
Close below the ascending 10-day MA would neutralize immediate bull outlook
💡 Brian Kelly, a founder and CEO of BKCM LLC, an investment firm focused on digital currencies, has laid out three major factors that could fuel the next big rally of bitcoin, now that the bitcoin price has officially crossed the $10,000 mark.
According to Kelly, three major factors that will inevitably lead the bitcoin price to the next support levels at $12,000 and $14,00 are the entrance of banks such as Goldman Sachs, clarity from regulators on bitcoin’s legality, and the initiation of the blockchain summit Consensus 2018 in New York on May 14.
Consensus 2018 will feature 250+ speakers and 4,000+ attendees from the leading industry startups, investors, financial institutions, enterprise tech leaders, and academic and policy groups who are building the foundations of the blockchain and digital currency economy.
Consensus 2017 was held on May 22-24 and appears to be responsible for the beginning of the exponential growth for the rest of 2017.
According to Kelly, three major factors that will inevitably lead the bitcoin price to the next support levels at $12,000 and $14,00 are the entrance of banks such as Goldman Sachs, clarity from regulators on bitcoin’s legality, and the initiation of the blockchain summit Consensus 2018 in New York on May 14.
Consensus 2018 will feature 250+ speakers and 4,000+ attendees from the leading industry startups, investors, financial institutions, enterprise tech leaders, and academic and policy groups who are building the foundations of the blockchain and digital currency economy.
Consensus 2017 was held on May 22-24 and appears to be responsible for the beginning of the exponential growth for the rest of 2017.
#BitcoinCash
Weak close (as per UTC) today below 10-dayMA would confirm bearish doji reversal, open doors for a deeper pullback to $1,200 or more
The 10-day MA is still sloping upwards (bullish). So a rebound from 10-day MA could put $1,800 back on the map.
Weak close (as per UTC) today below 10-dayMA would confirm bearish doji reversal, open doors for a deeper pullback to $1,200 or more
The 10-day MA is still sloping upwards (bullish). So a rebound from 10-day MA could put $1,800 back on the map.
#BTCUSD
OUTLOOK: Neutral
Unexpected failure at inverse H&S neckline & a drop to $$9,259 has neutralized the immediate outlook
Only a break abv $10K would revive the bullish view
Bear scenario: Break below $8,652 confirm bull-to-bear trend change
OUTLOOK: Neutral
Unexpected failure at inverse H&S neckline & a drop to $$9,259 has neutralized the immediate outlook
Only a break abv $10K would revive the bullish view
Bear scenario: Break below $8,652 confirm bull-to-bear trend change
#ETHUSD
OUTLOOK: Bearish
Negative RSI divergence suggests short-term bull-to-bear trend change
ETH could revisit descending trendline support seen at $600 in a day or two
Only a close above $838 would signal continuation of the rally from $358
OUTLOOK: Bearish
Negative RSI divergence suggests short-term bull-to-bear trend change
ETH could revisit descending trendline support seen at $600 in a day or two
Only a close above $838 would signal continuation of the rally from $358
New Korean Financial Watchdog Chief Takes Softer Tone on Cryptos
The new head of a South Korean financial watchdog has taken a softer tone on cryptocurrencies and hinted that his agency may consider easing rules for exchanges.
The new head of a South Korean financial watchdog has taken a softer tone on cryptocurrencies and hinted that his agency may consider easing rules for exchanges.
Buy STQ on Tidex
Buy Zone 34-39
Target 48 79 100+
Also worth longterm hold
Platform to be released in January 2019 and binance rumors
Buy Zone 34-39
Target 48 79 100+
Also worth longterm hold
Platform to be released in January 2019 and binance rumors
BMW is piloting a blockchain platform to track mileage in leased vehicles through its startup innovation program.
The effort is being carried out in partnership with blockchain startup DOVU - one of five startups to work with BMW Group UK as part of the company's Innovation Lab.
The idea is that the system helps BMW understand how much activity its vehicles are seeing and the impact on them. Drivers who participate receive tokens in exchange for their data. BMW chose to define the parameters for token rewards through mileage - the current automatic mileage tracking systems are unreliable and do not provide the information that the company might actually use.
The effort is being carried out in partnership with blockchain startup DOVU - one of five startups to work with BMW Group UK as part of the company's Innovation Lab.
The idea is that the system helps BMW understand how much activity its vehicles are seeing and the impact on them. Drivers who participate receive tokens in exchange for their data. BMW chose to define the parameters for token rewards through mileage - the current automatic mileage tracking systems are unreliable and do not provide the information that the company might actually use.