Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin: Price Analysis, October 11

The beauty of trading is that when prices are correcting, there's news of doom all around. All the bears come out of hibernation, forecasting a crash, and the bulls hide in a corner.

The exact opposite happens when price reaches lifetime highs. This creates fear in the minds of the traders who miss buying at the lows and selling at the highs. Therefore, we focus on the price action to forecast the next possible move. Now that Bitcoin is close to its highs, what should we do?

BTC/USD

Traders who went long at lower levels on our recommendations have been booking profits near resistances. We are left with about 30 - 35 percent of our original position, which we had planned to book at $5000. Should we book out close to the highs, or wait for higher levels?

Yesterday, the cryptocurrency reached a high of $4932.9, very close to our target levels. However, selling at the highs has pushed Bitcoin back below the $4800 levels. As the digital currency is trading above $4680, chances are that it will again attempt to breakout to new highs soon.

If the bulls are successful in sustaining above $5000, the cryptocurrency is likely to gain momentum, and it will indicate the start of a new uptrend. Therefore, we recommend holding the existing position with a stop loss of $4500.

We don't want to keep a deeper stop loss because, usually, when bulls fail to breakout of a strong overhead resistance, bears sell aggressively, sending prices lower. So, if the bulls fail to breakout and sustain above $5000, we can expect the bears to push the cryptocurrency down to at least $4184.6 levels, which is the 38.2 percent Fibonacci retracement level of the pullback from $2974 to $4932.9.

ETH/USD

Traders who went long at $317 with a stop loss of $278 on our recommendation had to face a loss. In hindsight, it looks like we purchased at the highs of the range and sold off at the lows of the range.

However, we had intended to buy on a breakout of the range. As the range had been building for a few days, we believed that it would have enough force to carry it higher. Therefore, we didn't recommend waiting for a close above the range to initiate long positions.

Similarly, on the downside, we'd expected that once the cryptocurrency broke out, it wouldn't return to the lows of the range. Nevertheless, Ethereum proved us wrong on both fronts.

So, how can we trade Ethereum now?

Currently, the cryptocurrency is trading close to the center of the range. We don't want to enter a long trade unless Ethereum breaks out and closes above $317. We may miss out on a few points, but at least we won't be caught in these fake breakouts and breakdowns.

We shall keep an initial stop loss of $278 only, because, we don't expect prices to fall back below the range, once it breaks out and closes above it.

BCH/USD

We have been correct in avoiding Bitcoin Cash on the long side. On Oct. 9, the cryptocurrency broke below the critical support of $300, forming a low of $280.1. So, is this low level a good time to buy?

Bitcoin Cash is devoid of buyers. Though the digital currency has recovered above $300 levels, it continues to make lower lows and lower highs, which suggests that a bottom is still not in place.

Until the digital currency remains below $385 and the 20-day exponential moving average (EMA), it will continue to face selling pressure on rallies. On the lower end, Bitcoin Cash can fall to $285 and thereafter to $200 levels.

On the upside, any rally towards $385 levels is likely to face stiff resistance. We don't find any buy setup on the cryptocurrency; therefore, we don't have any recommendation on it.

XRP/USD

The sharp fall on Oct. 9 hit our stop loss at $0.23500 on the 35 percent of our remaining position. This is the reason we always recommend booking partial profits as the price moves higher, especially when the cryptocurrency is not in a strong uptrend. Presently, we don't have any positions in Ripple.

It has recovered after falling below the downtrend line on Oct. 9. However, bulls will face stiff resistance at $0.28000 and $0.30000.

On the downside, the cryptocurrency has support at $0.23000. Considering the levels, we don't find a trade set up with a good risk to reward ratio. Therefore, we shall wait and watch until we get a good entry point.

LTC/USD

There is nothing much happening in Litecoin. The cryptocurrency is stuck inside the range, due to which traders seem to have abandoned it at the moment.

Litecoin has a history of forming ranges and then breaking out of them. We're currently in a similar situation. Whenever the price breaks out of the upper end of the range at $58, chances are that it will again take off.

Until then, the cryptocurrency is likely to trade between $44 and $58. We shall not take a trade inside this range.

Cannabis SaaS Provider düber Plans ICO following $50m Deal

In using this website you are deemed to have read and agreed to the following terms and conditions:

The following terminology applies to these Terms and Conditions, Privacy Statement and Disclaimer Notice and any or all Agreements: "Client", "You" and "Your" refers to you, the person accessing this website and accepting the Company's terms and conditions. "The Company", "Ourselves", "We" and "Us", refers to our Company. "Party", "Parties", or "Us", refers to both the Client and ourselves, or either the Client or ourselves. All terms refer to the offer, acceptance and consideration of payment necessary to undertake the process of our assistance to the Client in the most appropriate manner, whether by formal meetings of a fixed duration, or any other means, for the express purpose of meeting the Client's needs in respect of provision of the Company's stated services/products, in accordance with and subject to, prevailing English Law. Any use of the above terminology or other words in the singular, plural, capitalisation and/or he/she or they, are taken as interchangeable and therefore as referring to same.

Privacy Statement

We are committed to protecting your privacy. Authorized employees within the company on a need to know basis only use any information collected from individual customers. We constantly review our systems and data to ensure the best possible service to our customers. Parliament has created specific offences for unauthorised actions against computer systems and data. We will investigate any such actions with a view to prosecuting and/or taking civil proceedings to recover damages against those responsible.

Confidentiality

We are registered under the Data Protection Act 1998 and as such, any information concerning the Client and their respective Client Records may be passed to third parties. However, Client records are regarded as confidential and therefore will not be divulged to any third party, other than Finance Magnates, if legally required to do so to the appropriate authorities.

We will not sell, share, or rent your personal information to any third party or use your e-mail address for unsolicited mail. Any emails sent by this Company will only be in connection with the provision of agreed services and products.Disclaimer

Exclusions and Limitations The information on this web site is provided on an "as is" basis. To the fullest extent permitted by law, this Company:excludes all representations and warranties relating to this website and its contents or which is or may be provided by any affiliates or any other third party, including in relation to any inaccuracies or omissions in this website and/or the Company's literature; andexcludes all liability for damages arising out of or in connection with your use of this website. This includes, without limitation, direct loss, loss of business or profits (whether or not the loss of such profits was foreseeable, arose in the normal course of things or you have advised this Company of the possibility of such potential loss), damage caused to your computer, computer software, systems and programs and the data thereon or any other direct or indirect, consequential and incidental damages.Finance Magnates does not however exclude liability for death or personal injury caused by its negligence. The above exclusions and limitations apply only to the extent permitted by law. None of your statutory rights as a consumer are affected.

Log Files

We use IP addresses to analyse trends, administer the site, track user's movement, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information. Additionally, for systems administration, detecting usage patterns and troubleshooting purposes, our web servers automatically log standard access information including browser type, access times/open mail, URL requested, and referral URL. This information is not shared with third parties and is used only within this Company on a need-to-know basis. Any individually identifiable information related to this data will never be used in any way different to that stated above without your explicit permission.

Cookies

Like most interactive web sites this Company's website [or ISP] uses cookies to enable us to retrieve user details for each visit. Cookies are used in some areas of our site to enable the functionality of this area and ease of use for those people visiting.

Links to this website

You may not create a link to any page of this website without our prior written consent. If you do create a link to a page of this website you do so at your own risk and the exclusions and limitations set out above will apply to your use of this website by linking to it.

Links from this website

We do not monitor or review the content of other party's websites which are linked to from this website. Opinions expressed or material appearing on such websites are not necessarily shared or endorsed by us and should not be regarded as the publisher of such opinions or material. Please be aware that we are not responsible for the privacy practices, or content, of these sites. We encourage our users to be aware when they leave our site & to read the privacy statements of these sites. You should evaluate the security and trustworthiness of any other site connected to this site or accessed through this site yourself, before disclosing any personal information to them. This Company will not accept any responsibility for any loss or damage in whatever manner, howsoever caused, resulting from your disclosure to third parties of personal information.

Copyright Notice

Copyright and other relevant intellectual property rights exists on all text relating to the Company's services and the full content of this website.

Communication

All rights reserved. All materials contained on this site are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of Finance Magnates. You may not alter or remove any trademark, copyright or other notice from copies of the content. All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you.Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. Opinions expressed at Finance Magnates are those of the individual authors and do not necessarily represent the opinion of Fthe company or its management. Finance Magnates has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and omissions might occur. Any opinions, news, research, analyses, prices or other information contained on this website, by Finance Magnates, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. Finance Magnates will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Force Majeure

Neither party shall be liable to the other for any failure to perform any obligation under any Agreement which is due to an event beyond the control of such party including but not limited to any Act of God, terrorism, war, Political insurgence, insurrection, riot, civil unrest, act of civil or military authority, uprising, earthquake, flood or any other natural or man made eventuality outside of our control, which causes the termination of an agreement or contract entered into, nor which could have been reasonably foreseen. Any Party affected by such event shall forthwith inform the other Party of the same and shall use all reasonable endeavours to comply with the terms and conditions of any Agreement contained herein.

Waiver

Failure of either Party to insist upon strict performance of any provision of this or any Agreement or the failure of either Party to exercise any right or remedy to which it, he or they are entitled hereunder shall not constitute a waiver thereof and shall not cause a diminution of the obligations under this or any Agreement. No waiver of any of the provisions of this or any Agreement shall be effective unless it is expressly stated to be such and signed by both Parties.

Notification of Changes

The Company reserves the right to change these conditions from time to time as it sees fit and your continued use of the site will signify your acceptance of any adjustment to these terms. If there are any changes to our privacy policy, we will announce that these changes have been made on our home page and on other key pages on our site. If there are any changes in how we use our site customers' Personally Identifiable Information, notification by e-mail or postal mail will be made to those affected by this change. Any changes to our privacy policy will be posted on our web site 30 days prior to these changes taking place. You are therefore advised to re-read this statement on a regular basis.

 

These terms and conditions form part of the Agreement between the Client and ourselves. Your accessing of this website and/or undertaking of a booking or Agreement indicates your understanding, agreement to and acceptance, of the Disclaimer Notice and the full Terms and Conditions contained herein. Your statutory Consumer Rights are unaffected.

© Finance Magnates 2015 All Rights Reserved

Chaos, Hackers Still Rife in Wild West of Exchanges

Cryptocurrencies came with the promise of rock solid cryptography that would make them safe and secure; the immutable ledger of the Blockchain is unhackable, and there is no central authority to be compromised.

However, there are still many perils that have been dogging cryptocurrencies, especially on the exchange front where chaos reigns and hackers abound.

The story of Moolah

Many have felt the sting of things going bad with Bitcoin exchanges. There are stories of people playing the market badly and being burnt, but that is largely their own fault. But there are also stories of innocent victims.

Moolah, an exchange that was one of the 45 percent that end up collapsing, has seen people get burned.

Dan Wasyluk was using Moolah when it collapsed, taking with it 750 of his Bitcoins. Wasyluk says he doubts that he will see than money again, which was worth almost $4 mln.

A history of hacking

Bitcoin's most famous hack was that of Mt. Gox which had such a profound effect on the Bitcoin ecosystem that it turned the market bearish for a prolonged period. Many people lost millions of dollars, and because of the decentralized nature of it, there was not much to be done.

Mt Gox was not the end of the hacking saga, there are reports almost weekly of other exchanges being hacked, leaving many in the lurch when it comes to getting their stolen money back.

Regulators and lawmakers are trying to protect citizens, but it is a difficult thing.

In July, a US federal judge in Florida ordered Paul Vernon, the operator of a collapsed US exchange called Cryptsy, to pay $8.2 mln to customers after he failed to respond to a class-action lawsuit. The judge ruled that 11,325 Bitcoins had been stolen but did not identify the thief.

David C. Silver, one of the plaintiffs' attorneys, said:

"This is no different than bank robbers in the Old West. Cryptocurrency is just a new front."

Regulators crack down

Because cryptocurrencies are indeed the latest frontier, there is still a lot of loopholes in the law and a lot of policing going on. Lawmakers are slow to catch up.

Some of the Chinese exchanges implored their users to get their coins out of exchanges as quickly as possible due to the changing regulations in the country.

What is Bitcoin?

<div class="storypage-divider desktop">
<div>
<p class="published">
Published 4:01 PM, October 06, 2017 </p>
<p class="updated">
Updated 4:02 PM, October 06, 2017 </p>
</div>
<p class="p1" id="ext-gen33538"><img src="https://static.rappler.com/plugins/system/lazyload/blank.png"/></p>
<p class="p1">Currency drives the world. You do work, earn money, spend it on food and other necessities – and the cycle continues. For centuries, in countries around the world, currency has largely been a mix of paper and metal.<span class="Apple-converted-space"> </span></p>
<p class="p4">But physical currency is changing. Everything is going digital. In developed countries, money is almost entirely virtual these days.<span class="Apple-converted-space"> </span>Many developing countries are not near that point yet. But for a certain percentage of the population in these places, getting paid via electronic deposits, managing digital bank accounts and paying bills online are becoming the norm. </p>
<p class="p4">Bitcoin is based on the concept of conventional currency, except it's entirely virtual. You never hold a Bitcoin in your hand, at least not in the physical sense. Bitcoin users manage their money via mobile and desktop apps, and pay for goods and services the same way. If you want to pay for something with Bitcoin in the real world, you simply do so via your mobile device, using NFC, Bluetooth or a similar wireless technology. </p>
<p class="p4">Bitcoin is the world's leading digital currency, and it also happens to be one of the most valuable, reaching values of up to $4000 to a Bitcoin as of late. It works on a peer-to-peer payment system, which directly influences the value of the currency. That value should continue to grow as the currency becomes more widespread and better-known, and as more users and companies learn to adopt and trust it. Trust, after all, is what gives currencies its value.</p>
<p class="p4">Bitcoin, because of its digital nature and its transcendence of global borders, has value. But like paper money or conventional currency, Bitcoin is still this essentially: a barter or exchange medium to pay for goods and services. </p>
<p class="p4">A Bitcoin itself <span class="s1">is nothing more than a small chunk of data</span>. When someone purchases with Bitcoin, they transfer funds from wallet to wallet, which is a form of virtual bank. Each Bitcoin wallet contains the exact amount of "coins" a user has acquired, whether through purchases, mining or otherwise.</p>
<p class="p4">Like your physical wallet or purse, a Bitcoin wallet is secure, and no one can take money out without your consent. In fact, you could argue Bitcoin wallets are more secure, as no one can pickpocket your earnings.</p>
<p class="p4">How do you earn Bitcoin? Think of it this way: with regular currency, it's the country and the banks that are backing up he currency, verifying its value. People trust that the currency issued by the country and the banks has value or buying power. With cryptocurrencies like Bitcoin, that ability to say that a cryptocurrency has value is backed by the network of anonymous computers – the blockchain – that monitors the flow of credit and debt between users. </p>
<p class="p4">That's why they say that cryptocurrencies are a decentralized form of currency; there's no one central bank monitoring this flow of debt and credit. Instead, it's the network of computers doing this, and that data is freely available and transparent for anyone to see. </p>
<p class="p4">When a user dedicates a computer to this blockchain operation, the activity is called mining. For helping out in the blockchain process, a user is rewared with Bitcoin. </p>
<p class="p4">Today, however, mining has become unprofitable and significantly more difficult to achieve. It's much more common to earn Bitcoins through an online transaction.<span class="Apple-converted-space"> </span></p>
<p class="p4">A transaction is nothing more than a transfer of value or ownership of said currency. Bitcoin wallets maintain and monitor encrypted data called a private key or seed. This key is used to sign transactions, almost like a signature on your credit bills and receipts. Of course, the encryption means the data is totally secure, and once it's been issued, it cannot be altered or modified by anyone other than the original key owner.</p>
<p class="p4">When a transaction happens, one user transfers a specific amount of Bitcoin to another user's wallet. The transfer is secure and reliable. Because of how it works, this has also changed the way in which digital transactions sometimes work. For example, transferring Bitcoin is irreversible, so there's no refund or recovery process if you make a poor transaction as a buyer. This also opens up the opportunity for harmful scams and unscrupulous scenarios, but that's another matter entirely.</p>
<p class="p4">When Bitcoin first appeared, it was mostly honored by online and digital communities. It was hard to find a retailer or large organization that dealt in the currency. Today, however, things have changed considerably. As the currency becomes more popular and more widely accepted, companies have begun offering customers the option to pay via Bitcoin.</p>
<p class="p4"><span class="s1">Some of the biggest names include Microsoft</span>, Steam, Dell, Shopify, Newegg, Reddit, Overstock, WordPress, Subway and much more. </p>
<p class="p4">You might be surprised to find out, however, that Bitcoin is directly influencing modern currencies too. More specifically, blockchain – the secure foundation behind Bitcoin – has a lot to offer the financial world. <span class="s1">According to an industry report from BDO Global (an international accounting firm not to be confused with the Philippine bank)</span>, 15% of banks plan to use blockchain in 2017 to secure their data and platforms.</p>
<p class="p4">Banks are interested in blockchain because it's decentralized, yet extremely secure. No one can access or modify a chunk of data without the private key or seed we talked about earlier.<span class="Apple-converted-space"> </span></p>
<p class="p4">This means currencies and data cannot be influenced by outside parties. It also means you have a more secure and trustworthy way to store your data – or in the world of banks, your currency.</p>
<p class="p4">Of course, <span class="s1">it will be some time</span> before large financial organizations adopt this technology. As the value of Bitcoin soars, they're just now starting to realize its full potential. – <strong>Rappler.com</strong></p> </div>

demo 2

This is HTML message.

This is headline.

demo 2

This is HTML message.

This is headline.

demo

This is HTML message.

This is headline.