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Ethereum classic price declined recently against the US Dollar and Bitcoin. ETC/USD now faces many hurdles on the upside near $27.00-28.00 in the near term.
There was a decent rise in ETC price above the $30.00 level against the US Dollar. The price traded as high as $32.05 before starting a downside move. There was a sharp increase in selling pressure and the price moved below the $30.00 and $28.00 support levels. It even traded below the $25.00 support and formed a low near $22.12. It later started an upside correction and moved above the 38.2% Fib retracement level of the last decline from the $32.05 high to $22.12 low.
However, the broken support near $27.00 is now acting as a resistance. The 50% Fib retracement level of the last decline from the $32.05 high to $22.12 low is also near $27.00. Moreover, there is a major bearish trend line forming with resistance at $27.00 on the hourly chart of the ETC/USD pair. Therefore, the $27.00-28.00 levels are very important for more gains in ETC.
A break above $28.00 is needed for ETC to retest the $30.00 level. On the downside, the $24.00 level is a decent support. However, the most important support is at $22.00, which is a pivot area. The price must stay above $22.00 to remain in the bullish zone.
Hourly MACD – The MACD for ETC/USD is slight in the bullish zone.
Hourly RSI – The RSI for ETC/USD is moving lower towards the 40 level.
Major Support Level – $22.00
Major Resistance Level – $28.00
Charts courtesy – Trading View, Kraken
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Hello and welcome to News BTC’s Market Outlook November.
Ethereum broke out during the trading session on Wednesday, clearing the $500 level. It now looks as if we are going to continue to find buyers in the Ethereum market on dips, and we should continue to go much higher. Given enough time, I believe that Ethereum will go looking towards the $550 level as the next logical round number. However, on the hourly chart we are crossing in the overbought part of the stochastic oscillator, and that of course suggest perhaps the pullback is coming before we move higher. Nonetheless, I remain bullish.
Ethereum also rallied against Bitcoin, but with Bitcoin skyrocketing over $1000 in the last 24 hours, it’s a most impossible to imagine going long against it. Because of this, I suspect that the 0.48 level is going to offer significant resistance, and we may very well pull back in the short term.
Thanks for watching, I’ll be back tomorrow.
The post ETH/USD and ETH/BTC Technical Analysis November 30 2017 appeared first on NEWSBTC.
All alt coins are depreciating across the board after testing record highs.
Let’s look at the charts:
In the weekly chart, bulls are in charge and that means in lower timeframes like the 4HR chart, buyers should be waiting for buy opportunities to load up their long positions.
Because of the current bearish divergence pattern which begun between November 26 and 29, USD bulls are NEM prices lower.
Traders should in turn wait until a stochastic buy signal is printed probably around $0.22 because as it is, it is likely that bears might close below $0.24 and the 20 period MA support lines.
After yesterday’s slow price action, DASH bulls are now trading at record highs just like Bitcoin.
The minor resistance trend line which was capping prices at around $640 was broken through after November 29 higher highs and the accompanying above average buy volumes.
As it is, DASH prices look fair. For investors seeking to benefit from the same rally as BTC, DASH is an attractive alt coin to invest in. Traders should only be watching higher time frame trends to determine entries in the lower time frames.
At the moment, the weekly chart is bullish and therefore we only take long positions. Our immediate support is the 20 period MA and the trend line at around $640 just in case there is a correction from current prices.
This week has been historic for IOTA and after positive news following that collaboration with MicroSoft and 20 other companies, IOTA is gaining traction.
As we can observe in the weeklly chart, IOTA reversal was from below the 78.6% Fibonacci retracement levels. This meant that IOTA bulls were capable of pushing prices to current levels just as Fibonacci retracements and extension stipulate.
It did and right now prices are trending above June’s highs at $1.40. The daily and weekly charts are bullish with diverging %k and % d pointing at high momentum and IOTA demand.
As a result of this surge, traders are anticipating a correction. As it is $1.3 is our immediate support line. Should price break below it then traders should wait for better entries at around $1.1 and $0.98 support zone.
For some reasons, Monero is dropping like a stone after testing highs of $214.
Because of this strong bearish engulfing pattern, a stochastics sell signal is clear in the daily chart. Remember before this bear surge, the 20 period MA in the 4HR chart was our main support line. Monero bulls will be invalid if USD bulls convincingly close below this level in coming sessions.
Going forward, this bears will be in charge if bears push prices below August highs of $166 in the next few trading sessions.
Otherwise, this bear forecast will be null and void should prices bounce back and close above $170.
Overly, despite these lower lows, our bullish skew remain. Because of this, we shall only wait until after a stochastic buy signal is forms at the over-sold territory before we trade.
Thereafter, NEO bulls should look to initiate long entries.
All charts courtesy of Trading View
The post ALT COINS DEPRECIATING AFTER TESTING RECORD HIGHS NOVEMBER 30, 2017 TECHNICAL ANALYSIS appeared first on NEWSBTC.
Going up against YouTube may seem like a fool’s errand, but even if the video giants control 95% of the market worldwide, the remaining 5% can still be an attractive market. An up and coming company from Russia has set its sights on this (and maybe more), using blockchain technology and cryptocurrency to sound out the possible future of internet advertising.
Native Video Box resembles YouTube in the same way that cryptocurrencies resemble traditional banks. It is an independent native video platform with a native ecosystem approach to advertising. In the current advertising industry, up to 70% of advertisers’ money is taken by intermediaries before it reaches the publisher. Today, with cutting-edge technologies of programmatic advertising, blockchain and tokenization, NVB has a chance to change the way the game is played.
In contrast to traditional services, NVB gives 75% of its advertising revenues to those who truly create content and deliver it to the viewer: the owners of video content (15%) and website owners (60%). Alexander Shishov, NVB founder and CEO, says “All of this gives our network an enormous advantage of organic growth, attracting the best platforms and licensed video content for a reasonable fee, which will thus be very attractive to advertisers.”
Native Video Box (NVB) was originally launched in Russia in early 2016 as a native video platform for websites with editorial content. They have since developed an MVP with machine learning that has acquired local business traction and are now refactoring the project to go global and implement blockchain as a cutting-edge adtech service. Its marketing and development team remains based in Moscow, but, as Shishov says, “the rest are spread out all over the world – just like our platform.”
A key advantage that NVB has over native advertising systems such as Taboola and Outbrain is their selection, based on machine learning, of video that is 100% relevant to the content of the page (and not to the user, in contrast to a service like YouTube) and a proprietary brand safety algorithm.
An advantage over systems such as Plista and Engageya (which are also partially oriented to monetizing through video advertising) is the large selection of inexpensive and relevant videos, due to NVB’s close cooperation with video bloggers and content creators.
Mr. Shishov remarks, “We don’t have direct competitors: for now, we are the sole platform that offers a turnkey solution for making money on video advertising for sites that don’t have sufficient quantities of their own video content in. Video bloggers are also given the chance with a single click to distribute their videos beyond the audience of the normal video hosting sites, and make a good income doing so.”
NVB is currently working towards the launch of an ICO on December 15. The ICO will offer an ERC-20 product token, which does not burn up by default on use; however, NVB reserves the right to burn up to 100% of the tokens that it receives in payment to service the operation of the system. The ICO has a hard cap of $15 million ($500,000 for the pre-ICO and $14.5 million for the main stage of the ICO).
The NVB token is an internal currency: all transactions among system participants are carried out exclusively in tokens. To buy advertising views, advertisers will have to acquire NVB tokens. Because NVB tokens are a cryptocurrency, they are a simple way to make payments to each individual blogger or site in any country worldwide, which solves the issue of regulatory documentation or settling financial claims, and also the problem of the high commissions of fiat banks (for currency exchange).
The pre-sale of tokens starts December 1 and runs to December 15, in two phases: in the first phase (December 1-5), the minimum for participation is $5,000. A 50% discount will be given to early backers, where 1 NVB token is equal to $0.50 rather than $1.00. In the second phase (December 6-15), minimum purchase will be $1,000. At this stage, a 25% discount will be available, where 1 NVB token is equal to $0.75 rather than $1.00.
After this, the main body of the ICO starts December 16 and will run to February 1, 2018.
NVB is being advised by ICOBox, the global leader in the ICO market. ICOBox founder Mike Raitsyn calls NVB “a unique, intriguing project, which should greatly benefit from the opportunities afforded by its ICO. An ICO represents an opportunity to really get a project going, to bring a certain kind of conceptual model to life. Startups can be at various stages when they make their ICOs; some have already completed part of the project, others have only a great idea and huge ambitions.”
Nikki Stewart, founder of CSCC Media, a media marketing professional with more than a decade’s experience in digital media and internet communications, comments that “Native Video Box brings together the most cutting-edge video ad technologies in an entirely new ecosystem, created to benefit publishers and content creators.”
For more information, see the NVB website.
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