Author: dfmines

“So we are gonna drop the lawsuit, 100% and I’m sorry this became public,” said Ben Armstrong.

The Ethereum co-founder suggests that cryptocurrency payments are a “big boost” to international business, charity, and even payments within countries.

The largest digital currency in the world, Bitcoin, is still fluctuating below the $22K price mark. Meanwhile, its daughter token, BCH, has recently gained some green bars, surging by 7%. BCH is the hard fork of Bitcoin. Its development is structurally and technically in line with those of Bitcoin. However, there’s just one notable difference between these two digital tokens, which is Block Size. Related Reading: Institutional Investor Sentiment Remains Negative As Bitcoin Outflows Continue Segregated option was not the best answer to the scalability problem of BTC. They observed a loophole in implementing SegWit to tackle the issue with Bitcoin. This became the dawn of Bitcoin Cash. The transaction mechanism of the cryptocurrency places about 8MB of data on every created block. Moreover, on average, around 116 transactions are carried out every second on the system. This is enough transaction speed for BCH. However, more processing capacity is needed to create a larger block size. Such block sizes are necessary to support the network through its nodes. But regardless of this, the token has been gaining some heights since its creation in August 2017. Bitcoin Struggles To Claim $22K Price Mark There has been no relevant up or down trend for Bitcoin lately. It’s currently going around the $21K mark. Also, several other digital currencies are facing the same difficulty, but there’s an exception to this being BCH. Last week’s bearish turn of the crypto market has affected most of the altcoins, and Bitcoin is no exception. Since then, it has been a struggle for the digital currency to hit the coveted $22K level. Last weekend, the market watch on Bitstamp revealed a plunge in the price of Bitcoin. At the time, the digital token dropped to around $20,800, which happened to be its 3-weeks low. There was a quick bounce back to the $21K price mark after the last plunge in its price. However, from then up to now, the token has not made a significant move to the north or south of the market chart. The current Bitcoin price is still around the $21,000 mark with no sign of a positive move to the $22K level. Meanwhile, the cryptocurrency still holds a market cap of more than $400 billion. In the last 24 hours, there has not been an encouraging move of many altcoins in the market. While that is ongoing, Ethereum has gained some heights recently. This is not overly surprising considering the anticipated merge of the network. Related Reading: Bearish Indicator: Bitcoin Retail Volumes Show Weakness In Rally The digital currency (ETH) hit a price of a little over $2,050. This was its price as of 10 days back. Ethereum is now down to $1,600, a $500 difference from its price at the time. Featured image from Pixabay, chart from TradingView.com

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Iranian authorities have seized nearly 10,000 illegal cryptocurrency mining devices since March. According to reports, many of the seized crypto mining rigs were operating in public locations that receive free or heavily-subsidized electricity, such as schools and mosques. Iran Confiscates Nearly 10K Crypto Mining Devices Kambiz Nazerian, head of Tehran Electricity Distribution Company, said Monday […]

Bitcoin is attempting a recovery wave above $21,500 against the US Dollar. BTC must clear the $22,650 resistance zone to move into a positive zone. Bitcoin is slowly moving higher above the $21,400 and $21,500 levels. The price is now trading above the $21,400 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $22,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could recover higher, but the bears might remain active near the $22,650 zone. Bitcoin Price Attempts Recovery Bitcoin price seems to be forming a base above the $21,000 support zone. BTC is slowly moving higher above the $21,200 and $21,400 levels. There was a minor increase above the $21,500 resistance zone and the 100 hourly simple moving average. The price even spiked above the 23.6% Fib retracement level of the key drop from the $24,416 swing high to $20,797 low. However, the price failed to settle above the $21,650 resistance zone. Bitcoin is now trading above the $21,400 level and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $21,650 and $21,700 levels. The first major resistance on the upside sits near the $22,000 level. The next key resistance could be near the $22,500 zone. There is also a major bearish trend line forming with resistance near $22,400 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com The main hurdle could be near the $22,650 zone. It is close to the 50% Fib retracement level of the key drop from the $24,416 swing high to $20,797 low. If there is an upside break above the $22,650 resistance zone, the price may perhaps rise towards the $23,500 resistance zone. Any more gains might send the price towards the $24,000 resistance zone. Fresh Decline in BTC? If bitcoin fails to clear the $22,500 resistance zone, it could start another decline. An immediate support on the downside is near the $21,400 level and the 100 hourly simple moving average. The next major support now sits near the $21,000 level. A clear move below the $21,000 support might increase selling pressure in the near term. In the stated case, the price might decline towards the $20,000 level. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now just above the 50 level. Major Support Levels – $21,400, followed by $21,000. Major Resistance Levels – $21,650, $22,000 and $22,650.

The foundation aims to streamline Uniswap’s grants program and “reinvigorate governance.”

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