Ano sa palagay mo bakit ang  pamahalaan ng Pilipinas ay inaprobahan ang dalawang bagong palitan ng crypto?

It’s a mixed start to the day and, while some of the majors are in positive territory for the week, a weekend rally is going to need to kick in to avoid a reversal that could leave the majors in the red by the end of Sunday.


Bitcoin Cash Down Again
Bitcoin Cash fell by 1.36% on Friday, following Thursday’s 2.65% fall, to end the day at $733.1, a 2nd consecutive day of losses leaving Bitcoin Cash down 0.58% for the current week.

A reversal through from a start of the day $743.2 high to a mid-morning intraday low $698.6 saw Bitcoin Cash fall through the day’s first major support level at $710.4 to call on support at sub- $700 to recover to $700 levels in the late morning and move through to an afternoon high $738.9 before easing back in what was a relatively range bound 2nd half of the day.

At the time of writing, Bitcoin Cash was down 0.45% to $729.9 in what’s been a relatively range bound day, with a start of the day $734.3 high and morning $725.0 leaving the day’s major resistance and support levels untested early on.

For the day ahead, Bitcoin Cash will need to move back through the morning high $734.3 to $740 levels to take a run at the day’s first major resistance level at $751.33, with any signs of a weekend rally supporting a break out to the second major resistance level at $769.57 before any pullback.

Failing to move back through the morning high to $740 levels could see Bitcoin Cash pullback to test the day’s first major support level at $706.73, with any broad based market sell-off likely to see Bitcoin Cash test sub-$700 support levels before any recovery.

Litecoin Stuck in a Rut
Litecoin fell by 0.4% on Friday, following Thursday’s 2.51% fall, to end the day at $82.96, the moves through the week seeing Litecoin gain 3.84% going into the weekend.

A reversal through the early Friday morning saw Litecoin fall through the day’s first major support level at $81.23 to an intraday low $80.76 before recovering, with sub-$80 levels providing strong support to Litecoin in the early part of the day, Litecoin now having avoided sub-$80 levels for a 4th consecutive day.

Following the broader market, a late morning rally saw Litecoin move through to an intraday high $84.01 before easing back to $82 levels by the day’s end, the day’s high falling short of the first major resistance level at $86.04 and well short of the 23.6% FIB Retracement Level of $98 to continue supporting the extended bearish trend.

At the time of writing, Litecoin was up 0.29% to $83.2, with Litecoin recovering from a pullback to a morning low $82.45 that held well above the day’s first major support level at $81.14.

Litecoin’s recovery led to a morning high $83.40, which also left the day’s first major resistance level at $84.39 untested through the early part of the day.

For the day ahead, a move through $83.8 would support a run at the day’s first major resistance level at $84.39, while we would expect Litecoin to fall short of $85 levels, the extended bearish trend continuing to pin Litecoin back from any material gains.

Failure to move through to $84 levels in the early afternoon could see Litecoin slide to $81 levels to test the day’s first major support level at $81.14 before any recovery, sub-$80 support levels likely to remain untested for a 5th consecutive day.

Ripple Volatility Continues
Ripple’s XRP fell by 0.19% on Friday, following Thursday’s 2.42% fall, to end the day at $0.47727, the moves through the week seeing Ripple’s XRP up 3.84% for the current week.

Bucking the broader market trend, Ripple’s XRP went into reverse from the start of the day on Friday, sliding through the first major support level at $0.4612 to an intraday low $0.45809 before tracking the majors with a late morning rally to an intraday high $0.48467 that fell short of the day’s first major resistance level at $0.4993. Of greater significance on the day was Ripple’s XRP failing to break through to $0.50 levels for the first time since Tuesday’s $0.49775 high.

At the time of writing, Ripple’s XRP was down 0.75% to $0.47318, easing back from a start of the day $0.47823 high to a morning low $0.47108 from which Ripple’s XRP has failed to recover, the day’s moves leaving major support and resistance levels untested early on.

For the day ahead a move back through $0.4733 to the morning’s $0.47823 high would support a run at $0.48 levels to bring the first major resistance level at $0.4886 into play, though sentiment will need to improve for Ripple’s XRP to avoid a pullback to $0.46 levels to test the day’s first major support level at $0.4620, with $0.50 levels likely to be out of reach for the day.


author: Bob Mason
source: https://www.fxempire.com/forecasts/article/bitcoin-cash-litecoin-and-ripple-daily-analysis-07-07-18-514486

The Indian National Congress (INC) party, the largest political party in the nation, is accusing the ruling Bharatiya Janta Party (BJP) of money laundering through bitcoin.

INC, more commonly known as the Congress Party, alleged Thursday that the BJP was converting "black money" into white using bitcoin in the western state of Gujurat, the English-language daily newspaper Hindustan Times reported. Further, the party called for the Indian Supreme Court to launch a probe to monitor the investigation.

According to the report, INC spokesperson Shaktisinh Gohil alleged that BJP "leadership was involved in converting black money through" the bitcoin scam, which is allegedly worth between $727 million and $12.79 billion.

Gohil told the reporters:

"We demand an impartial Supreme Court-monitored judicial investigation in this maze of 'Mega Bitcoin Scam' so that the truth comes out."

He added that by using bitcoin, certain leaders at BJP were able to convert their "black money" to other businessmen in the state.

However, the BJP denied the allegations, saying the Congress Party's "dirty tricks department" was simply trying to "spread confusion and lies."

Indeed, BJP spokesperson Anil Baluni seemed to imply that the INC may have an ulterior motive in accusing the ruling party of laundering the funds.

"I wonder if the Congress is trying to help somebody in this case as part of a conspiracy," he said.

By: Muyao Shen
Source:  https://www.coindesk.com/indias-ruling-party-accused-of-involvement-in-mega-bitcoin-scam/

Investing.com – Bitcoin resumed its trek lower on Thursday as its journey to $7,000 was foiled by renewed selling pressure amid a lack of meaningful data to support sentiment.

Bitcoin fell 2.88% to $6,500.0 on the Bitfinex exchange, after hitting a session high of $6,704.8.

While difficult to attribute a single reason for the shift lower in bitcoin, some crypto observers cited an analyst downgrade to the year-end price of the popular crypto as the catalyst.

Tom Lee, Head of research at Fundstrat Global Advisors, – widely seen as a "bitcoin bull" – cut his target price on bitcoin to $20,000. While that is well above current levels it was $5,000 below his earlier forecast.

The fall in bitcoin triggered weakness in other large-cap cryptos, pressuring the total crypto market cap to $267 billion, at the time of writing, from $269 billion earlier in the week.

Ripple XRP fell 5.93% to $0.47463 on the Poloniex exchange, while Ethereum fell 2.39% to $463.99.

Bitcoin Cash fell 6.76% to $726.06, while Litecoin fell 4.46% to $82.95.

https://bloomberg-vod-prod-us-east1.s3.amazonaws.com/m/NzU1NjkxMQ/MjUwOTkxOQ/intvURban062918d_1800.mp4

Source:  https://www.investing.com/news/cryptocurrency-news/bitcoin-bull-tom-lee-cuts-target-on-bitcoin-cryptos-fall-1519342

The Reserve Bank of Zimbabwe (RBZ) has initiated studies of blockchain technology with a view to subsequently embrace the technology and integrate it into the bank’s business processes, local news outlet NewsDay reported July 5.

Speaking at the Alpha Media Holdings’ Banks and Banking breakfast meeting in Harare yesterday, RBZ governor John Mangudya reportedly said that the bank is looking to embrace the technology. He stated that central banks in a number of countries, including China, the U.S., U.K., and South Africa have been considering blockchain deployment for their own activities. Mangudya continued:

Continue Reading on Coin Telegraph

Amsterdam-based speed trader Flow Traders NV has entered the cryptocurrency market despite the warnings of the Dutch Authority for the Financial Markets (AFM) not to buy and sell digital currencies, Bloomberg reported July 5.

Europe’s largest trader of exchange-traded funds Flow Traders NV is reportedly the first firm to buy and sell exchange-traded notes based on Bitcoin (BTC) and Ethereum (ETH). According to Bloomberg, such publicly traded notes could broaden the appeal of crypto by making it easier and cheaper to invest. Co-Chief Executive Officer of Flow Traders NV Dennis Dijkstra said that cryptocurrencies are underestimated, adding:

Continue Reading on Coin Telegraph

A simple text website called the Nakamoto Family Foundation displays what it claims to be a section of a book written by Satoshi Nakamoto, the unidentified creator of Bitcoin.

The website is dated 29th of June and was published on the 30th. It explains that the book (“literary work”) will be in two parts, but there is “no guarantee the book will ever come to be, unless it becomes necessary and people want to know about me personally.”

More here:  https://www.financemagnates.com/cryptocurrency/news/satoshi-nakamoto-publish-book-according-mysterious-website/