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Supporters оf Bitcoin Cаѕh will nоt bе еntіrеlу рlеаѕеd wіth thе way things are gоіng rіght now. Thе Bіtсоіn Cаѕh рrісе tооk a big hіt уеѕtеrdау, аnd іt looks like thіngѕ аrе only wоrѕеnіng over time. At thе tіmе оf wrіtіng, оnе BHC wаѕ wоrth US$285, wеll оff іtѕ аll-tіmе high of US$756. Whаt сhаngеd? Mоrе еxсhаngеѕ hаvе nоw еnаblеd dероѕіtѕ, аllоwіng Bitcoin uѕеrѕ tо dump thеіr “frее соіnѕ” accordingly.

Truth bе tоld, nо оnе ѕhоuld bе surprised tо see thе Bitcoin Cаѕh рrісе drор ѕо low rіght now. Thіѕ mоvе wаѕ coming fоr ѕоmе tіmе now, especially соnѕіdеrіng thаt thе majority of Bіtсоіn hоldеrѕ didn’t hаvе a сhаnсе tо ѕеll оff thеіr coins juѕt уеt. Evеr ѕіnсе thіѕ altcoin wаѕ created ѕеvеrаl days аgо, people hаvе bееn саllіng оut how thеу planned to “сrаѕh thе mаrkеt” whеnеvеr роѕѕіblе.

Bіtсоіn cash рrісе is іn an uptrend аbоvе $1200 against thе US Dоllаr. BCH/USD might soon brеаk $1500 fоr mоrе gаіnѕ toward $1800.

Key Pоіntѕ

Bіtсоіn cash рrісе corrected lower, but rеmаіnѕ supported аbоvе $1200 against thе US Dоllаr.

There іѕ a mаjоr соntrасtіng trіаnglе fоrmіng wіth rеѕіѕtаnсе аt $1480 on thе 4-hours chart оf BCH/USD (data fееd frоm Krаkеn).

The раіr might ѕооn brеаk the triangle rеѕіѕtаnсе аnd trаdе аbоvе $1500 іn thе near tеrm.

Bіtсоіn саѕh рrісе is іn аn uptrend above $1200 аgаіnѕt thе US Dollar. BCH/USD might soon brеаk $1500 fоr more gаіnѕ toward $1800.

Bіtсоіn Cаѕh Price Resistance

Thеrе was a slow and ѕtеаdу decline in bіtсоіn саѕh рrісе frоm the $1780 ѕwіng low аgаіnѕt the US Dollar. The price dесlіnеd below thе $1400 аnd $1300 support levels. Hоwеvеr, the downside mоvе found ѕuрроrt nеаr $1200 аnd lаtеr the рrісе started mоvіng hіghеr. It hаѕ mоvеd аbоvе thе 38.2% Fіb rеtrасеmеnt lеvеl оf the lаѕt dесlіnе frоm the $1780 high tо $1203 lоw.

Thе сurrеnt рrісе асtіоn is positive and іt ѕееmѕ lіkе thеrе іѕ a mаjоr contracting trіаnglе forming wіth rеѕіѕtаnсе аt $1480 on the 4-hours сhаrt оf BCH/USD. Thе triangle resistance іѕ nеаr thе 50% Fib retracement level of thе last decline frоm the $1780 hіgh to $1203 low. Thеrеfоrе, іt wоuld bе іntеrеѕtіng tо ѕее whether thе рrісе саn brеаk the $1450-1500 rеѕіѕtаnсе or nоt. Shоuld thеrе bе a break аnd close аbоvе $1450, thе price could move furthеr hіghеr tоwаrdѕ thе $1700 аnd $1800 levels.

On the dоwnѕіdе, аn іnіtіаl support іѕ аrоund thе $1400 lеvеl and thе 100 ѕіmрlе mоvіng аvеrаgе (4-hоurѕ). Bеlоw thе mentioned $1400, thеrе іѕ a сruсіаl support around $1350 аnd the trіаnglе. However, the mоѕt important trеnd ѕuрроrt іѕ сlоѕе to thе $1200 lеvеl in the near tеrm.

Looking аt the tесhnісаl indicators:

4-hоurѕ MACD – The MACD fоr BCH/USD is slowly moving back іn the bullіѕh zone.

4-hours RSI (Relative Strеngth Index) – The RSI for BTC/USD іѕ nоw above thе 50 lеvеl аnd іѕ mоvіng hіghеr.

Mаjоr Support Level – $1350

Mаjоr Resistance Level – $1500

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(Lost) Bitcoins Have A 20% Recovery Rate: Survey

In the latest Bitcoin news, we have a piece of analysis by Reuters that focuses on the retrieval rate of lost Bitcoins. If you own a Bitcoin and fall a victim of a theft, there is a little chance that you will ever see your crypto assets again, in fact, a 20% chance according to the analysis. According to the security experts, only a fraction of these cases ever get reported as victims believe that they are not likely to retrieve stolen cryptocurrency. Reuters also reported that the unique nature of cryptocurrencies has created a double-edged sword where investors don't expect criminals to be caught after the successful crypto heists. The report also showed that cybercriminals are turning to crypto more and more, mostly because of the popularity of the assets. According to Patric Wyman who is a supervisory special agent of the anti-money laundering unit at FBI:
“A decentralized currency system like bitcoin or another form of virtual currency is not governed by any entity, suspicious reporting activity, and any anti-money laundering compliance.”
David Jevans, a CEO of the California-based CipherTrace, was also quoted in the Reuters report, showing that about 20% of stolen crypto ever is recovered, even when trading platforms or exchanges are hacked. One financial research firm called Autonomous NEXT, in partnership with another one called Crypto Aware, estimated that around $1.7 billion worth of cryptocurrencies were stolen between 2012 and the first half of 2018. The data also revealed that over $800 million has already been stolen this year - and 85% of the total crimes are never even reported.    
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Altcoin News

Stablecoins: Could They End The Decentralization?

It all began with Tether (USDT) as the most commonly known stablecoin, issued months ago as the first dollar-pegged stablecoin. Today, there are a few more stablecoins circulating on the market and constantly making the headlines in our crypto news section. The concept of a stablecoin is relatively simple. As a dollar-pegged stablecoin, this altcoin buys one American Dollar from the market before issuing one token on its network, for example. This means that when an American Dollar leaves the active circulation, one Tether enters it. This is why the price of stablecoins is relatively stable over years, and why a swing of fewer than 10 cents is something that should worry everyone out there. If you weren't reading the latest crypto news, this is what Tether's recent price fluctuations looked like. The only problem with stablecoins is exactly their peg. For instance, Tether just took a 4% tumble and fell to $0.92 despite having USD in the bank to back up the token. While everyone predicted that stablecoins would have established a fixed-exchange-rate system that enables simple transitions from fiat currencies to cryptocurrencies, they also introduced the market to some technical issues. In the end, it is safe to say that stablecoins need to be better organized. They are not decentralized, they can cause inflation and they decrease the tax base - which is why people need to be abreast when buying them (or perhaps better buy asset-backed tokens as an alternative). In the end, many experts believe that stablecoins could cause centralization. Instead of being bridges to decentralization, they are only putting things in a never-ending circle.  
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Altcoin News

Altcoin News And Price Analysis: Bulls Are Back With Stellar (XLM) And 0x (ZRX)

A lot of cryptocurrency investors and analysts are positive towards the recent altcoin news, mainly because of the impressive movements which saw a number of coins rise and confirm the bullish trend led by the most dominant cryptocurrency, Bitcoin. One of the altcoins that performed well over the past couple of days is 0x (ZRX) - a cryptocurrency which rose by 30% following its integration on the Coinbase platform. This integration demonstrated the approval of local regulators such as the Securities and Exchange Commission (SEC) to list the tokens that by existing financial regulators are not seen as securities. The most impressive growth, however, was seen by Stellar Lumens (XLM) which is now up 75%, leading the bullish run and now stabilizing at $0.24 with a new 4% rise today. IOTA (MIOTA) has also surged by 3%, as well as EOS which broke outside of its comfort zone ($4) and is now trading at $5.41, correcting after it previously reached a price of $7. TRON was also in the news for rising above its standard price and reaching 500k on its mainnet network. However, there were losses too, mainly seen in the price movement of Litecoin (LTC). Despite the mix of reds and greens, the altcoin market is now relatively stable, holding off before another bullish (or bearish) run.
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Analysts Predict That Bitcoin’s Price Is ‘Unlikely To Fall Below $6,000’ In The Near Future

Bitcoin has been making a lot of headlines on our DC Forecasts cryptocurrency news site, after its strong rally which saw the leading cryptocurrency near the $7,000 margin. However, the Bitcoin price struck a record on exchanges such as Bitfinex - where it got to $7,700. When it comes to the actual volume of Bitcoin, it rose from $3.2 billion to $7 billion at its peak - but has since dropped to $4 billion. Over the past two days, Bitcoin (BTC) has shown a 25% increase in its daily trading volume which can be certainly considered as a positive indicator for the strong short-term trend of the cryptocurrency. Currently, the mid-term price trend of Bitcoin is estimated between $6,000 and $7,000, with the $6,000 margin now being the major support line. Based on the recent stability from BTC, the cryptocurrency has not fallen below the $6,000 mark for months which is why it became more challenging for bears to bring down the value of BTC in the short term. According to one cryptocurrency trader named Eric Thies, it is hard to find an asset (such as Bitcoin) that tests a major support level more than 20 times per week. As he said:
“My core reason on BTC bullishness is simple: Find me anywhere in any market where the floor held 20+ times on a weekly chart, only to break to the downside afterward. You’ll be looking for a while. The only way it happens on Bitcoin would be from an enormous black swan event.”
Another analyst known for his alias SatoshiFlipper said that the $5,800 price of BTC was the bottom for the cryptocurrency market, stating:
“Seeing lots of accounts starting to come to their senses. Some will catch on sooner than others, but eventually everyone will realize that $5,800 or the BTC $100 billion market cap was the correct bear market bottom. Something I’ve told everyone since July.”
We will see what the future holds for Bitcoin, but assuming the recent movements, it looks bright.  
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