Bitcoin Price Watch: BTC/USD in Clear Uptrend

Key Points Bitcoin price extended gains and broke the $6,400 resistance zone against the US Dollar. Yesterday’s discussed bullish flag pattern was breached with resistance at $6,380 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair traded above the $6,600 level and is placed nicely in a bullish zone. Bitcoin price jumped above key barriers against the US Dollar. BTC/USD may continue to move higher towards the $6,800 level in the near term. Bitcoin Price Analysis Yesterday, bitcoin price started a downside correction after trading…

Bankers Tout Trade Finance as the Sweet Spot for Blockchain

Even if blockchain fatigue may have set in among bankers, there’s at least one use case they’re still clearly excited about: trade finance. At least, that was the impression given at the Blockchain Summit in London this week, where a range of bankers talked enthusiastically about the digital trade finance platforms they are building and the cost reductions they believe will result. Perhaps most notably, Amit Varma, the CTO of Citibank, was unusually vocal and specific in describing the savings his institution expects the technology to bring to the chain…

Ripple Price Analysis: XRP/USD Surging Above $0.50

Key Highlights Ripple price jumped higher and broke the $0.4750 and $0.5000 resistance levels against the US dollar. Yesterday’s highlighted short-term declining channel was breached with resistance at $0.4600 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is gaining momentum above the $0.5000 resistance and eyes a test of $0.5250. Ripple price is gaining upside momentum against the US Dollar and Bitcoin. XRP/USD is placed in a bullish trend above the $0.4750 pivot level. Ripple Price Trend Yesterday, there was a minor downside correction…

Ethereum Price Analysis: ETH/USD Eyes More Upsides

Key Highlights ETH price gained momentum and cleared the $455-458 resistance zone against the US Dollar. Yesterday’s highlighted important contracting triangle was breached with resistance at $454 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now placed nicely above the $458 resistance and is currently eyeing more gains. Ethereum price is trading with a positive bias against the US Dollar and Bitcoin. ETH/USD is likely to clear the $481 high for more upsides in the near term. Ethereum Price Support There was a short term…

Tron (TRX) Price Watch: Short-Term Reversal Formation in Sight

Tron Price Key Highlights Tron has formed an inverse head and shoulders pattern on its 1-hour time frame as a classic reversal signal. Price has already broken past the neckline to confirm that an uptrend is underway. Tron also seems to have completed a quick retest of the neckline and is resuming the bullish run. Tron broke above the neckline of its inverse head and shoulders formation to confirm that gains are in the cards. Technical Indicators Signals The 100 SMA is still below the longer-term 200 SMA to indicate…

Bitcoin (BTC) Price Watch: Another Bullish Continuation Signal

Bitcoin Price Key Highlights Bitcoin price has broken above the double bottom neckline and bullish flag to signal upside momentum. Price is forming another bullish flag pattern, which might signal a continuation of the climb. Technical indicators, however, are showing mixed signals for now. Bitcoin price confirmed one bullish signal after another and may be poised to continue its rally from here. Technical Indicators Signals The 100 SMA completed its crossover above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other…

Bermuda to Create New Class of Bank for Serving Fintech and Blockchain Companies

The Government of Bermuda has announced plans to make amendments to the Banking Act in order to establish a new class of bank to render services to local fintech and blockchain organizations, Finextra reported July 2. Since local banks have reportedly declined to provide banking services to the new type of companies, being concerned about regulatory issues and potential risks, the government of the island has consulted with them to develop an update to the Banking Act. Upon introducing the bill in Parliament, Bermudian Premier and Minister of Finance David…

Tether on Strings? Crypto Debates Fresh Round of Manipulation Claims

As they say, shots were fired. An investigative article raising concerns about possible market manipulation of tether has sparked a social media firestorm, with the dollar-pegged cryptocurrency’s detractors, supporters and seemingly everyone in between weighing in. In an incendiary take on an already controversial topic, Bloomberg analyzed tether trading data from the Kraken crypto exchange and found several “red flags,” as the headline described them. Complete with colorful annotated charts and interactive data visualizations, the article published Friday sought to characterize the market for tethers, also known as USDT, as defying…

Japanese Financial Services Agency to Change Crypto Exchange Regulations

Japanese financial regulator the Financial Services Agency (FSA) is considering to change the legal basis for how it regulates cryptocurrency exchanges, local media Sankei reports July 3. The FSA reportedly is considering to regulate crypto exchanges by the Financial Instruments and Exchange Act (FIEA), instead of its current legal foundation, the Payment Services Act. According to Senkai, this means that the exchanges will have stronger customer protections. The FIEA obliges securities companies to manage customer funds and securities, such as stocks, separately from corporate assets. Under the current legislation, cryptocurrencies…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Tron: Price Analysis, July 2

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. The total market capitalization of the crypto universe jumped from the $233 billion levels on June 29 to about $260 billion on June 30. That’s a jump of about 11.58 percent within a day. This shows that the cryptocurrencies still have the vigor…