Bitcoin Faces Close Below Long-Term Support In First Since 2015

If bitcoin closes the week below the 50-week moving average it will increase the likelihood of a sell-off to $6,000

Popular posts from this blog

Samourai and goTenna Enable Bitcoin Transactions Without Internet Access

Image
Samourai Wallet is collaborating with goTenna , a Brooklyn-based company specializing in off-grid communications, to produce txTenna, an Android app that combines mesh networking with Bitcoin transactions. The app will allow users to pair their phones with goTenna’s portable antennas in order to broadcast transactions. goTenna produces consumer-grade hardware to facilitate mesh networking — a concept that echoes much of the decentralization ethos that we see across the cryptocurrency domain — which operates by allowing peers to connect directly to one another for the purpose of routing packets, sidestepping the need to rely on an ISP or cell tower. “What will happen when these massive centralized networks fail due to natural disasters, as they did after Hurricane Sandy in 2012, or due to some kind of outside cybersecurity attack? What will happen when providers decide to crank up prices just because they can?” said Rich Myers, goTenna’s Decentralized Applications Engineer. “Mesh ...
Read more

The Genesis Files: How David Chaum’s eCash Spawned a Cypherpunk Dream

Image
“You can pay for access to a database, buy software or a newsletter by email, play a computer game over the net, receive $5 owed you by a friend, or just order a pizza. The possibilities are truly unlimited.” This quote is not from a 2011 Bitcoin introduction video. In fact, the quote is not about Bitcoin at all. It is not even from this millennium. The quote is from cryptographer Dr. David Chaum, speaking at the first ever CERN conference in Geneva in 1994. What he’s talking about is eCash. If the cypherpunk movement has a godfather, the bearded, ponytailed Chaum is it. To say that the cryptographer — now 62 or 63 years old (he won’t reveal his exact age) — was ahead of the curve is an understatement. Before most people had heard of the internet, before most homes had personal computers, before Edward Snowden, Jacob Appelbaum or Pavel Durov were even born, Chaum concerned himself with the future of online privacy. “You have to let your readers know how important this is,” Chaum...
Read more

Ether Price Analysis: Bullish Signals Show Strength in Ether

Image
Since bottoming in the mid $300s, ETH-USD has managed to almost double in price over the course of a month. The support at the bottom came from the top of the previous reaccumulation trading range shown below: Figure 1: ETHUSD, 12-Hour Candles, Previous Trading Range Whether this is nothing more than a brief respite in an overall downward trending market remains to be seen. There are several very bullish factors to consider: Figure 2: ETHUSD, Daily Candles, Macro Support We managed to break through the daily candles’ 50/200 EMAs. We are currently sitting on top after a successful test of support a few days ago. For now, the 50/200 EMAs are proving to be strong support. Next, the rally off the $350 support area showed a high amount of volume indicating demand is returning to the ether markets. The rally off support broke the downward trend where we are currently consolidating in a substantial bullish pennant: Figure 3: ETHUSD, 6-Hour Candles, Bull Pennant A pennant of this size...
Read more