BNB coin analysis shows that the coin managed to stay on the uptrend despite the recent decline due to the ban for US customers from the main exchange. The price tested the key resistance support at $30.00 and we read more about it in the coming altcoin news.
The binance coin price declined sharply due to the US customer ban but later recovered above $34.00. There seems to be a crucial bullish trend line forming near the support line at $32.50 on the 2-hour chart. The price still remains in an uptrend and could easily make another attempt and surpass the $35.00 support range.
The major crypto exchange banned all United States customers from their main exchange and this was one of the reasons that led the price to a sharp decline. The exchange later announced a separate exchange for US customers. Although the BNB coin analysis shows a heavy decline, there was a positive movement for both Ethereum, Bitcoin, and Ripple which turned out to help Binance Coin to find the nearest support area at $30.00.
If you take a look at the 2-hour chart of BNB/USD, the pair declined heavily after it failed to clear the $36.50 resistance level after it had previously broken down the $32.00 support area which acted as a strong buying zone. As a result, the price bounced back above the $32.50 and later to $34.00. The BNB price also managed to break the $35.00 support level but it has, however, struggled near the $35.40 area.
On the downside, as reported in the latest cryptocurrency news, there are many support levels near the $33.50 and $32.50 levels. The 50% Fib retracement level of the latest upward move from the $31.60 low to $35.43 high is also close to the $33.50 level and will act as a support with the 25 moving average. Also, there is a crucial bullish trend line that is now forming near the $32.50 on the same chart. Therefore as long as the price remains strong above the $32.50 it will remain in an uptrend. On the upside, the binance coin price resistance level will be near $35.50 which could help revisit the $36.50 area.
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"The illegal fundraise accusation is wrong. Tron complied with regulators and refunded investors on Sept. 20 in 2017, immediately after the order [of a ban on initial coin offerings] from seven ministries in China," he said (translated).The Tron price tumbles as we speak, again proving that everything can affect the price of crypto and again showing volatility just like the other coins in the latest cryptocurrency news. Currently, TRX sits at $0.024 with a 16% loss on the day.
Five Cannabis Infused Cryptocurrencies To Invest In This Year
DopeCoin Gold (DOPE)DopeCoin Gold has been featured in the coming altcoin news many times - as a blockchain and cryptocurrency which aims to 'provide marijuana enthusiasts with a modern and secure way of doing business for the 21st century’. Created on Bitcointalk, DopeCoin Gold (DOPE) was first launched in early 2014. The creator of this altcoin also founded CryptoBillings which is a payment processing application for vendors interested in accepting crypto. You can purchase DopeCoin Gold as one of the five cannabis infused cryptocurrencies on markets such as Bittrex.
HempCoin (THC)HempCoin launched in 2014 and just like DopeCoin, aims at revolutionizing the cannabis industry by providing a trusted network currency. As the website behind this project notes: “HempCoin is on a mission to achieve mass adoption in the agriculture sector by offering solutions that tackle the issues plaguing cross-border transactions. We aim to offer solutions for the lack of banking and payment services for industrial hemp and legal cannabis businesses.” You can buy HempCoin (THC) on Bittrex.
PotCoin (POT)PotCoin also launched in 2014 and quickly made a name for itself - becoming one of the frontrunners in the cannabis crypto industry. This is why it is in our list of five cannabis cryptocurrencies to watch out for. From its website: “PotCoin provides an underserved legal cannabis industry with a decentralized infrastructure and payment solution. Using PotCoins, industry participants can realize significant cost savings, scalability, and unparalleled enterprise security.” PotCoin can be used to buy weed paraphernalia in different online headshops. The website also advertises a unique Shopify store. Staking rewards are also present on the POT blockchain.
CannabisCoin (CANN)CannabisCoin (CANN) deserves to be in the five cannabis infused cryptocurrencies to watch out for. Even though it was originally planned to produce its own medical-grade marijuana products (priced at 1 gram of weed at 1 CANN coin) the cryptocurrency was also self-titled as 'The Marijuana Bitcoin'.
Paragon (PRG)Paragon is also featured in our altcoin news as one of the five cannabis cryptocurrencies. It launched in 2017 with a main goal of: “…building the next generation of seed-to-sale tracking software based on blockchain, while offering cannabis entrepreneurs a high tech co-working environment.” However, its plans got derailed when the SEC came down hard on the project for violating the rules regarding the issuance of security tokens. The CEO of Paragon, Jessica VerSteeg, is a former Miss Iowa winner. She was in the news for framing the SEC ruling as a positive for Paragon at the time, stating: “Paragon is proud that the PRG token is included in today’s action by the SEC and are thereby being granted the opportunity to avail itself of this groundbreaking path forward while continuing to pioneer efforts and to participate in the ever evolving ICO marketplace.”
Tim Draper Believes Crypto And Libra Are Bridges To A Bitcoin World
“I think all these other cryptos are bridges to where we have a Bitcoin environment,” he said.Appearing in the unique trademark Bitcoin tie, Tim Draper believes that US regulators were too heavy-handed dealing with innovations like Bitcoin, blockchain and related fields - which is what he told CNBC. He did not say anything about other altcoins which might have been featured in our altcoin news section. When it comes to Libra, he said that there was no need to demand regulatory assurances before the product had even launched.
“We’re putting regulation before the innovation — Facebook’s just announced Libra; they haven’t even been able to ship it yet, and the regulators are all over them,” he continued.Currently, many best cryptocurrency news sites explore the link between Libra and Bitcoin. At press time, Bitcoin looks stable and is trading more predictably after a turbulent week which saw a lot of price swings as the Congress debated a cryptocurrency policy. Tim Draper believes that there is lack of Bitcoin support against government. He is in a lot of interviews recently, talking about being a Bitcoin bull, his investments in the crypto space as well as his outlook on the future of the crypto space.
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