The post Bitcoin Eyes $12,000 in South Korea as Demand For Cryptocurrency Market Rises appeared first on CCN Bitcoin has built significant momentum over the past 24 hours, surpassing the $11,000 mark. The majority of alternative cryptocurrencies in the market have performed poorly against bitcoin, as the most dominant cryptocurrency in the market continued to… View Article
Archives for February 17, 2018
Key Highlights ETH price succeeded in moving higher this past week to trade above $900 against the US Dollar. There is a key ascending channel forming with support at $880 on the 4-hours chart of ETH/USD (data feed via SimpleFX). The pair may continue to rise as long as the mentioned $880 support is intact…. View Article
Bitstamps’ Dan Morehead is backing Bitcoin to revolutionize currency and when that happens it will become an integral part of investment portfolios.
The UK’s imminent exit from the European Union (EU) has left some politicians with some uncertainty about London’s future as the leading financial center. Kay Swinburne, a Member of the European Parliament (MEP) for Wales, made her views known as she spoke to the Business Insider on February 13. She believes that UK needs to… View Article
- Bitcoin cash price gained heavily this past week and moved above $1,400 against the US Dollar.
- There is a crucial bullish trend line forming with support at $1,480 on the 4-hours chart of the BCH/USD pair (data feed from SimpleFX).
- The pair may decline a few points in the short term, but it remains supported near $1,450 and $1,400.
Bitcoin cash price is trading nicely in the bullish zone above $1,400 against the US Dollar. BCH/USD is likely to remain in an uptrend with resistances at $1,600 and $1,750.
Bitcoin Cash Price Support
There were decent gains from the $1,180 this past week in bitcoin cash price against the US Dollar. The price gained heavy bullish momentum and it was able to move above the $1,200 and $1,400 resistance levels. It even traded above the $1,500 level and formed a high near $1,617. At the moment, the price is correcting lower, but it remains supported on the downside above $1,400.
An initial support is around the 23.6% Fib retracement level of the last wave from the $1,186 low to $1,617 high. There is also a crucial bullish trend line forming with support at $1,480 on the 4-hours chart of the BCH/USD pair. The pair is currently showing a few bearish signs, but there are many supports on the downside at $1,450 and $1,400. The mentioned $1,400 is significant since it is the 50% Fib retracement level of the last wave from the $1,186 low to $1,617 high.
Therefore, any major dips from the current levels are likely to find bids near $1,400. On the upside, a break above the $1,600 level is needed for a test of the $1,700 level, followed by $1,750.
Looking at the technical indicators:
4-hours MACD – The MACD for BCH/USD is placed nicely in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is moving higher towards the 70 level.
Major Support Level – $1,400
Major Resistance Level – $1,750
Charts courtesy – SimpleFX
The post Bitcoin Cash Price Weekly Analysis – Can BCH/USD Continue Higher? appeared first on NewsBTC.
Cryptocurrency mining operations come in many different shapes and sizes. 0Running a profitable Bitcoin mining firm requires a lot of hardware and space. For altcoin mining, things are very different. Unfortunately, the Jenkins Miner is not a legitimate operation. Although it is the biggest of its kind, it’s 100% malicious. It also seems to be mining Monero first and foremost, with over $3m being raised already.
Criminals have taken a strong liking to cryptocurrencies. In most cases, they will attempt to trick users into giving up login credentials. Hacking exchanges is also becoming more popular as of late. The Jenkins miner, however, is a different creature altogether. It is suspected this is a Chinese operation designed to mine Monero. More specifically, it is a completely malicious mining operation. By actively spreading Monero mining malware, the owner of this botnet has enslaved thousands of computers already.
Monero has a Jenkins Miner Problem
If that wasn’t enough, the owner is now targeting the Jenkins CI server. If successful, he can effectively generate millions of Monero in very quick succession. Botnet mining is nothing new for this particular altcoin. In fact, it has been somewhat of a problem for several years now. There is nothing one can do about it, though. After all, this is a decentralized network where no one can “ban” specific users or IP addresses without consensus.
There is a vulnerability in the Jenkins Java implementation which can be exploited. It seems the hacker successfully did so already, although it remains to be seen if this is a successful operation. With the code being injected on the server, it is possible this mining operation will become a lot more profitable. Monero is one of the few currencies to be mined with non-ASIC hardware these days. In fact, most people can still mine XMR with just their CPU, albeit at a very slow rate.
Whether or not the Jenkins miner will pose a big threat, remains to be seen. We do know the server is currently mining Monero through different mining pools. Analysts discovered how over $3m worth of XMR has been collected already. That number will increase for some time to come. Especially with this Jenkins miner still active, the money will continue to flow in rather quickly. The malware used to infect this server and other computers has undergone multiple evolutions as well. Every new iteration is more powerful and sophisticated. A worrisome trend, to say the least.
The post The Jenkins Miner is the Biggest Botnet Mining Monero appeared first on NewsBTC.
The rising popularity of cryptocurrencies is of great concern. Especially when it comes to pump-and-dump schemes, there’s reason to be concerned. As such, the CFTC issued an official warning against this type of market manipulation. They advise customers to avoid such schemes, especially when it comes to small and new altcoin markets. It is evident doing one’s research is always the best course of action.
In the world of cryptocurrency, pump-and-dump schemes are nothing new. In fact, they are a lot more common than some people might think. The CFTC has issued an official warning on this topic earlier this week. This is quite a surprise, even though it is evident consumers need to be aware of these manipulative efforts. Especially smaller cap coins and new alternative cryptocurrencies pose a significant risk in this regard. Moreover, it is always best to avoid any promotion on social media altogether.
Avoiding Cryptocurrency Pump-and-dump Schemes
This seems to stem forth from the recent BitConnect issues. That pump-and-dump scheme caused hundreds of millions in financial losses. It was mainly promoted on social media and YouTube. The CFTC doesn’t want history to repeat itself in this regard. They now want consumers to blow the whistle on any suspicious currencies first and foremost. It’s always better to submit tips than ignore pump-and-dump schemes altogether. Whether or not the general public will follow this guideline, remains to be seen.
According to the CFTC, pump-and-dump schemes in the cryptocurrency world take place on social media first and foremost. Online chat rooms, such as the ones on Telegram, are also problematic in this regard. Ignoring these buy signals will prove to be rather difficult for a lot of novice users. It is these people the marketers and scammers prey on first and foremost. A lot of people never do any research for specific coins or projects, even though they really should.
For now, the CFTC will not undertake further action against pump-and-dump schemes. They are not in a position to do so either, unfortunately. It is evident users need to conduct their due diligence first and foremost. Those who purposefully defraud other investors will face legal issues sooner or later, though. Anyone participating in market manipulation also violates the law. It is evident this new financial industry needs some boundaries first and foremost. Cracking down on pump-and-dumps is the right way to go in this regard.
The post CFTC Warns Against Cryptocurrency Pump-and-dump Schemes appeared first on NewsBTC.
CryptUnit is an interesting new service offering up to date data for Cryptonote-based altcoins that you can mine, giving you profitability information along with more details about each of the supported coins. You just need to enter your Cryptonight hashrate and the service will calculate what is the most profitable coin to mine at the moment and give you some extra useful information such as pools and exchanges if you are not familiar with the coin. Of course profitability varies all the time, so things change and the most profitable coins vary all the time. Currently the service covers 16 different Cryptonote coins that can be mined with CPU or GPU (both AMD and Nvidia). The people most interested in this service are probably going to be the ones with AMD-based video cards especially RX VEGA 56/64 due to their very high mining performance especially in the Cryptonight algorithm.
The post Ethereum Founder Buterin: ‘Traditional Assets Are Safest Bet’ for Life Savings appeared first on CCN Editor’s note: The article has been amended to remove previously erroneous reporting of a Twitter scammer purporting to be Vitalik Buterin. We sincerely apologize to Mr.Buterin and our readers for the flagrant mistake. Blockchain veteran Vitalik Buterin, co-founder… View Article
The post Solve This Videogame’s “Mind-Blowing” Test, Get a Bitcoin appeared first on CCN Beat the game, win a Bitcoin. Simple, right? That’s the premise of MonteCrypto: The Bitcoin Enigma, a PC game scheduled for release next week. The mysterious game, the latest in a long tradition of public treasure hunts, offers players the opportunity… View Article