Market Update: Bitcoin World Reserve Theories, Market Cap Loses $16B, Analyst Predicts $7,500 ETH – BTC Ethereum Crypto Currency Blog

Digital currency markets are down on Sunday evening roughly 2.14% as global trade volume has slid by 31% this weekend. Coins like ethereum, bitcoin, litecoin, and bitcoin cash are all down between 1-2% in the last 24 hours.

Crypto Assets Shed $16 Billion in Two Days

At the time of publication, the cryptocurrency market capitalization is around $261 billion and it has lost around $16 billion in the last two days. In addition to the market cap losses stemming from all 5,000+ coins, global trade volumes have been lower than usual. At the moment, bitcoin (BTC) is swapping for $9,279 per coin. The crypto asset has a market cap of around $170 billion and the currency is down 2.1% in the last 24 hours

Ethereum (ETH) is currently trading for $230 per unit and the crypto asset has lost 3.67% in fiat value today. After hovering at $0.20 per coin, XRP is down 2.3% today and trading for $0.188 per XRP. Tether (USDT) of course, is doing quite well with markets losing value as the stablecoin captures two-thirds of the market share of trading pairs. Right now at a U.S. dollar per unit price, the stablecoin has a $5.76 billion market cap.

Bitcoin cash (BCH) is down 2.2% today as it’s trading for $234 per unit during the evening trading sessions. BCH is the fifth-largest market cap by value below USDT and above BSV. At the time of writing, BCH has a market valuation of $4.3 billion.

‘Monster Move’ Coming Soon for Bitcoin

While bitcoin (BTC) and many other crypto assets have been consolidating and following a triangular pattern, many traders think a big move is in the works for a variety of digital currencies. On June 13, 2020, the popular trader Crypto Birb tweeted out to his 83,000 followers that a “monster move” is expected for BTC.

”Consolidating for 1.5 months already. This is going to be a monster move for BTC soon,” Crypto Birb tweeted. “70% of my BTC holdings are long term spot long that I take profits from on a regular basis as we grow. Short is only a hedge,” the trader added.

Bitcoin Could be a World Reserve Currency Says Financial Author and Tech Visionary Jeff Booth

On June 11, 2020, the entrepreneur and best-selling author, Jeff Booth, spoke with Max Keiser of Keiser Report about bitcoin (BTC). Booth seems to think that BTC has a good chance of being a “world reserve currency.” The author tells Keiser that the central banks’ massive creation of money has been a force that is driving bitcoin’s trend toward being a world reserve.

Entrepreneur and best-selling author, Jeff Booth.

“Those forces, competing against each other, are driving essential asset prices up… People are trying to work harder to keep up with rising asset prices that are created in the first place by the central governments’ trend to stop deflation,” Booth said. The CEO of e-commerce company Builddirect also added:

I see bitcoin as a likely, a very likely candidate for a world reserve currency. So, I see it has a really good chance of winning over time as it works on a network effect.

Placeholder VC Partner Chris Burniske Expects Ethereum to Touch $7,500 if Bitcoin Reaches $50K

On June 14, 2020, the former lead researcher at Ark Invest and Placeholder VC partner, Chris Burniske, discussed ETH price predictions on Twitter.

Former lead researcher at Ark Invest and Placeholder VC partner, Chris Burniske.

On Sunday, Burniske tweeted: If BTC goes [to] $50,000 in the next cycle, and ETH/BTC returns to its former ATH, then expect to see ETH [to] $7,500.” The Placeholder VC partner and analyst further said:

Why bitcoin to $50,000? As discussed in May 2019, if BTC is half as volatile in this cycle as it was in the last, we would still expect it to cross $50K and $1 trillion in network value. $1 trillion has been a long time coming for this macro-asset. Meanwhile, to the mainstream, ETH will be the new kid on the block — expect a frenzy to go with that realization.

What do you think about crypto-asset markets this Sunday? Let us know in the comments below.

The post Market Update: Bitcoin World Reserve Theories, Market Cap Loses $16B, Analyst Predicts $7,500 ETH appeared first on Bitcoin News.

https://news.bitcoin.com/market-update-bitcoin-world-reserve-theories-market-cap-loses-16b-analyst-predicts-7500-eth/

Original Article
Author: btcethereumadmin

Price Analysis 6/12: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, ADA, XTZ – BTC Ethereum Crypto Currency Blog

Bitcoin sold off as stocks corrected on June 11, but BTC and altcoins are failing to recover even as equities markets move higher.

The S&P 500 plunged 5.89% on June 11, its fourth-worst fall this year. This brought back memories of the sharp sell-off seen in March when investors dumped most asset classes as the coronavirus pandemic took hold. 

Although gold managed to close in the green on June 11, Bitcoin (BTC) plunged 6.16%. This suggests that investors sought the safety of gold over BTC, the top-ranked cryptocurrency on CoinMarketCap.

The Organization for Economic Co-operation and Development said in a report that governments should prepare for a possible second wave of coronavirus cases. The OECD heavily emphasized the continuance of ultra-accommodative monetary policies and higher public debt until inflation and economic activity picks up and unemployment levels fall.

Daily cryptocurrency market performance. Source: Coin360

During the current crisis, the U.S. debt has crossed the $26 trillion mark. As the central banks balance sheets continue to balloon, several institutional investors may consider investing in higher risk assets like Bitcoin to hedge their portfolio against future currency crises. 

If the second wave of coronavirus is as bad as medical experts predict, the short-term panic selling in cryptocurrencies cannot be ruled out but lower levels are likely to witness strong buying by long-term investors. 

BTC/USD

Bitcoin (BTC) broke above the resistance line of the symmetrical triangle and reached the five-figure mark on June 10. However, $10,000 again proved a stiff hurdle to cross as the price turned down sharply on June 11.

BTC/USD daily chart. Source: Tradingview

This suggests that the bears are aggressively defending the overhead resistance zone between $10,000 and $10,500.

The bulls held the 50-day simple moving average ($9,177) on June 11 and managed to keep the BTC/USD pair inside the triangle. However, buyers are struggling to push the price above the 20-day exponential moving average ($9,529). 

If the pair turns down from the 20-day EMA and breaks below $9,078.96, a decline to $8,130.58 is possible. If this level cracks then the pair could start a new downtrend.

On the other hand, if the bulls can scale the price above the 20-day EMA, another attempt to climb the $10,000–$10,500 zone is likely. If successful, the pair is likely to pick up momentum and start the next leg of the sustained uptrend.

ETH/USD

Ether (ETH) broke above the $247.827 resistance on June 10 and 11 but failed to sustain it. This attracted profit booking that dragged the price back below the support line of the ascending channel on June 11.

ETH/USD daily chart. Source: Tradingview

The bulls again purchased the drop to the uptrend line, which makes this an important support to watch closely. 

Currently, the bulls are attempting to push the second-ranked cryptocurrency on CoinMarketCap back into the ascending channel. If successful, a rally to $253.556 is possible.

Conversely, if the ETH/USD pair plunges below the uptrend line it will signal a possible change in trend. 

XRP/USD

The sharp drop in XRP was arrested at the support line of the symmetrical triangle on June 10. This is a positive sign as it shows that the bulls are defending this support aggressively. They will now attempt to push the price back to the downtrend line of the triangle. 

XRP/USD daily chart. Source: Tradingview

A breakout of the downtrend line will be a positive sign and it could offer a buying opportunity to the traders.

Above the triangle, the third-ranked cryptocurrency on CoinMarketCap can rally to $0.235688 and then to the pattern target at $0.2707. 

However, if the XRP/USD pair fails to sustain the rebound, the bears will try to sink the price below the triangle. If successful, a drop to $0.16 and then to $0.14 is likely. 

BCH/USD

Bitcoin Cash (BCH) broke above $255.46 on June 10 but could not scale above the $260 level. This resulted in profit booking by short-term traders and the price plunged back below the moving averages.

BCH/USD daily chart. Source: Tradingview

The bulls are currently attempting to push the fifth-ranked cryptocurrency on CoinMarketCap back above the moving averages. If successful, a rally to $255.46 is possible. The BCH/USD pair is likely to show strength above $260 and pick up momentum above $280.47.

Conversely, if the pair turns down from the moving averages, the bears will try to sink it to the next support at $217.55. If this support holds, the pair might remain stuck between $217.55–$255.46. If the $217.55 level cracks the pair can drop to $200.

BSV/USD

Bitcoin SV (BSV) again failed to break above $200 on June 10. This attracted selling that resulted in a sharp fall on June 11. The bulls are currently attempting to defend the strong support at $170. 

BSV/USD daily chart. Source: Tradingview

If successful, the sixth-ranked cryptocurrency on CoinMarketCap is likely to extend its stay inside the $170–$227 range. In a large range, the rebound off the support can offer a buying opportunity to the traders but if the BSV/USD pair breaks below the $170 support, a drop to $146.20 is possible. 

LTC/USD

Litecoin (LTC) broke below the moving averages and dropped towards the first support at $41.72 on June 11. The bulls purchased this dip and are currently attempting to push the price back above the moving averages.

LTC/USD daily chart. Source: Tradingview

If successful, the seventh-ranked cryptocurrency on CoinMarketCap will try to move up to $51. A breakout of this level will signal the start of a possible uptrend. Above this level, a rally to $64 is likely.

Conversely, if the LTC/USD pair turns down from $51, a few more days of consolidation can be expected. Both moving averages are flat and the relative strength index is just below the 50 level which points to a range-bound action for a few days.

The trend will turn in favor of the bears if the pair turns down from the current levels and plunges below the critical support at $39.

BNB/USD

The moving average support finally gave way on June 11 and Binance Coin (BNB) dropped to $15.93. The bulls purchased the dip and are currently attempting to push the price back above the moving averages. 

BNB/USD daily chart. Source: Tradingview

If successful, the eighth-ranked crypto-asset on CoinMarketCap will again try to rise above the overhead resistance of $18.1377. In doing so, the momentum is likely to pick up and a rally to $21.50 and $24 is possible. 

Conversely, if the BNB/USD pair turns down from the moving averages and slips below $15.72 a drop to $13.65 is likely.

EOS/USD

After failing to cross above the overhead resistance of $2.8319, EOS succumbed to selling pressure on June 11. This shows that the aggressive bulls who were expecting a breakout of $2.8319 dumped their positions.

EOS/USD daily chart. Source: Tradingview

The $2.3314 level has acted as a strong support from early April and the bulls purchased the dip to $2.4250 on June 11.

This increases the possibility of a range-bound action between $2.3314–$2.8319 for the next few days.

The ninth-ranked cryptocurrency on CoinMarketCap is likely to show strength on a breakout and close (UTC time) above $2.8319. Conversely, a break below $2.3314 will tilt the advantage in favor of the bears.

ADA/USD

Cardano (ADA) is currently attempting to resume the uptrend after bouncing off the 20-day EMA ($0.075) as suggested in the previous analysis. The 38.2% Fibonacci retracement level of the most recent leg of the up move is also close to the 20-day EMA and working as a strong support.

ADA/USD daily chart. Source: Tradingview

The first target objective on the upside is a retest of $0.0901373. If the 10th-ranked cryptocurrency on CoinMarketCap turns down from this level a few days of range-bound action is likely.

If the bulls can propel the price above $0.0901373 the ADA/USD pair might rally to the $0.1–$0.10652 resistance zone.

The pair will signal weakness if it turns down from the current levels and breaks below the 20-day EMA. 

XTZ/USD

Tezos (XTZ) plunged below both moving averages on June 11 but the bulls aggressively purchased the dip to the support line of the descending channel. This is a positive sign as it shows that the bulls are still buying the dips.

XTZ/USD daily chart. Source: Tradingview

However, the recovery is facing resistance at the moving averages. If the 11th-ranked cryptocurrency on CoinMarketCap turns down from the current levels, the bears will make another attempt to break below the channel.

If successful, a drop to the critical support at $2.24 is possible. A break below this level could start a new downtrend. 

The first sign of strength would be a breakout of the resistance line of the channel. Above this level, a rally to $3.1384 and then to $3.60 is likely.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Liquidations May Loom as Altcoin Bulls Hold Despite Shorts Spiking – BTC Ethereum Crypto Currency Blog

Many altcoin bulls are holding longs in spite of yesterday’s sudden down-turn in the Bitcoin markets. However, altcoin shorts are quickly rising too.

Despite yesterday’s 8% crash in the price of Bitcoin (BTC) driving many BTC bulls from the markets, altcoin longs have only seen slight declines, with Ether (ETH) longs defying the trend with a slight rally test of recent all-time highs on Bitfinex.

However, altcoin bears are quickly emerging from the woods, with shorts against many top altcoins piling up quickly amid Bitcoin’s recent drop. 

With many altcoin bulls holding on despite the increase in shorts, numerous leading crypto assets could see a surge in liquidations regardless of what direction the markets ultimately take.

Bitcoin longs retrace heavily

The BTC shake-out saw long positions on Bitfinex plummet by over 10%, dropping from 28,800 to roughly less than 26,000. BTC/USD short positions also saw an increase of nearly 16%.

BTC/USD longs on Bitfinex, 4hr: Tradingview

The crash also drove wholesale liquidations across crypto derivatives exchanges, with more than $71 million in margin calls on BitMEX and $66 million on Binance Futures taking place in the last 24 hours — the third-largest daily liquidations of the past month according to Cryptometer.

Ether longs bulls hold steady

While altcoins did not see heavy liquidations across futures platforms, a sharp spike in short positions coupled with stubborn bulls may create the perfect storm for an aggressive round of margin calls.

While many Bitcoin bulls quickly became bearish, ETH longs saw a slight increase of 2.5% — currently testing recent record highs of 1.77 million on Bitfinex. 

The persistent buying activity suggests that some market participants are predicting that Ether can continue to make gains over the dollar despite bearish signals in the Bitcoin markets.

ETH/USD longs on Bitfinex, 4hr: Tradingview

Altcoin shorts spike suddenly

However, the Bitcoin crash also drove an aggressive increase in ETH/USD short positions, which spiked by more than 18% in less than 60 minutes.

ETH/USD shorts on Bitfinex, 1hr: Tradingview

Similar trends can be observed across other leading altcoin markets, with Litecoin (LTC) longs dropping just 2.5% as shorts increased by over 30%, and XRP bulls retreating by only 3.5% as shorts flew by 15% over a few hours.

Original Article
Author: btcethereumadmin

Litecoin Core v0.18.1 Release

Follow our Twitter for the latest dev news.

We are pleased to release Litecoin Core 0.18.1. This is a new major version release, including new features, various bugfixes and performance improvements, as well as updated translations. It is recommended for all users to upgrade to this version.

How to Upgrade

If you are running an older version, shut it down. Wait until it has completely shut down (which might take a few minutes for older versions), then run the installer (on Windows) or just copy over /Applications/Litecoin-Qt (on Mac) or litecoind/litecoin-qt (on Linux).

The first time you run version 0.15.0 or newer, your chainstate database will be converted to a new format, which will take anywhere from a few minutes to half an hour, depending on the speed of your machine.

Note that the block database format also changed in version 0.8.0 and there is no automatic upgrade code from before version 0.8 to version 0.15.0 or later. Upgrading directly from 0.7.x and earlier without redownloading the blockchain is not supported. However, as usual, old wallet versions are still supported.

Compatibility

Litecoin Core is supported and extensively tested on operating systems using the Linux kernel, macOS 10.10+, and Windows 7 and newer. It is not recommended to use Litecoin Core on unsupported systems.

Litecoin Core should also work on most other Unix-like systems but is not as frequently tested on them.

From 0.17.0 onwards, macOS <10.10 is no longer supported. 0.17.0 is built using Qt 5.9.x, which doesn’t support versions of macOS older than 10.10. Additionally, Litecoin Core does not yet change appearance when macOS “dark mode” is activated.

In addition to previously-supported CPU platforms, this release’s pre-compiled distribution also provides binaries for the RISC-V platform.

Known issues

Wallet GUI

For advanced users who have both (1) enabled coin control features, and (2) are using multiple wallets loaded at the same time: The coin control input selection dialog can erroneously retain wrong-wallet state when switching wallets using the dropdown menu. For now, it is recommended not to use coin control features with multiple wallets loaded.

Notable changes

Mining

  • Calls to getblocktemplate will fail if the segwit rule is not specified. Calling getblocktemplate without segwit specified is almost certainly a misconfiguration since doing so results in lower rewards for the miner. Failed calls will produce an error message describing how to enable the segwit rule.

Configuration option changes

  • A warning is printed if an unrecognized section name is used in the configuration file. Recognized sections are [test], [main], and [regtest].
  • Four new options are available for configuring the maximum number of messages that ZMQ will queue in memory (the “high water mark”) before dropping additional messages. The default value is 1,000, the same as was used for previous releases. See the ZMQ documentation for details.
  • The rpcallowip option can no longer be used to automatically listen on all network interfaces. Instead, the rpcbind parameter must be used to specify the IP addresses to listen on. Listening for RPC commands over a public network connection is insecure and should be disabled, so a warning is now printed if a user selects such a configuration. If you need to expose RPC in order to use a tool like Docker, ensure you only bind RPC to your localhost, e.g. docker run […] -p 127.0.0.1:9332:9332 (this is an extra :9332 over the normal Docker port specification).
  • The rpcpassword option now causes a startup error if the password set in the configuration file contains a hash character (#), as it’s ambiguous whether the hash character is meant for the password or as a comment.
  • The whitelistforcerelay option is used to relay transactions from whitelisted peers even when not accepted to the mempool. This option now defaults to being off, so that changes in policy and disconnect/ban behavior will not cause a node that is whitelisting another to be dropped by peers. Users can still explicitly enable this behavior with the command line option (and may want to consider contacting the Litecoin Core project to let us know about their use-case, as this feature could be deprecated in the future).

Wallet changes

When creating a transaction with a fee above -maxtxfee (default 0.1 LTC), the RPC commands walletcreatefundedpsbt and fundrawtransaction will now fail instead of rounding down the fee. Beware that the feeRate argument is specified in LTC per kilobyte, not litoshi per byte.

Documentation

  • A new short document about the JSON-RPC interface describes cases where the results of an RPC might contain inconsistencies between data sourced from different subsystems, such as wallet state and mempool state. A note is added to the REST interface documentation indicating that the same rules apply.
  • Further information is added to the JSON-RPC documentation about how to secure this interface.
  • A new document about the litecoin.conf file describes how to use it to configure Litecoin Core.
  • A new document introduces Litecoin Core’s BIP174 Partially-Signed Litecoin Transactions (PSBT) interface, which is used to allow multiple programs to collaboratively work to create, sign, and broadcast new transactions. This is useful for offline (cold storage) wallets, multisig wallets, coinjoin implementations, and many other cases where two or more programs need to interact to generate a complete transaction.
  • The output script descriptor documentation has been updated with information about new features in this still-developing language for describing the output scripts that a wallet or other program wants to receive notifications for, such as which addresses it wants to know received payments. The language is currently used in multiple new and updated RPCs described in these release notes and is expected to be adapted to other RPCs and to the underlying wallet structure.

Build system changes

  • A new –disable-bip70 option may be passed to ./configure to prevent Litecoin-Qt from being built with support for the BIP70 payment protocol or from linking libssl. As the payment protocol has exposed Litecoin Core to libssl vulnerabilities in the past, builders who don’t need BIP70 support are encouraged to use this option to reduce their exposure to future vulnerabilities.
  • The minimum required version of Qt (when building the GUI) has been increased from 5.2 to 5.5.1 (the depends system provides 5.9.7)

New RPCs

  • getnodeaddresses returns peer addresses known to this node. It may be used to find nodes to connect to without using a DNS seeder.
  • listwalletdir returns a list of wallets in the wallet directory (either the default wallet directory or the directory configured by the -walletdir parameter).
  • getrpcinfo returns runtime details of the RPC server. At the moment, it returns an array of the currently active commands and how long they’ve been running.
  • deriveaddresses returns one or more addresses corresponding to an output descriptor.
  • getdescriptorinfo accepts a descriptor and returns information about it, including its computed checksum.
  • joinpsbts merges multiple distinct PSBTs into a single PSBT. The multiple PSBTs must have different inputs. The resulting PSBT will contain every input and output from all of the PSBTs. Any signatures provided in any of the PSBTs will be dropped.
  • analyzepsbt examines a PSBT and provides information about what the PSBT contains and the next steps that need to be taken in order to complete the transaction. For each input of a PSBT, analyzepsbt provides information about what information is missing for that input, including whether a UTXO needs to be provided, what pubkeys still need to be provided, which scripts need to be provided, and what signatures are still needed. Every input will also list which role is needed to complete that input, and analyzepsbt will also list the next role in general needed to complete the PSBT. analyzepsbt will also provide the estimated fee rate and estimated virtual size of the completed transaction if it has enough information to do so.
  • utxoupdatepsbt searches the set of Unspent Transaction Outputs (UTXOs) to find the outputs being spent by the partial transaction. PSBTs need to have the UTXOs being spent to be provided because the signing algorithm requires information from the UTXO being spent. For segwit inputs, only the UTXO itself is necessary. For non-segwit outputs, the entire previous transaction is needed so that signers can be sure that they are signing the correct thing. Unfortunately, because the UTXO set only contains UTXOs and not full transactions, utxoupdatepsbt will only add the UTXO for segwit inputs.

Updated RPCs

Note: some low-level RPC changes mainly useful for testing are described in the Low-level Changes section below.

  • getpeerinfo now returns an additional minfeefilter field set to the peer’s BIP133 fee filter. You can use this to detect that you have peers that are willing to accept transactions below the default minimum relay fee.
  • The mempool RPCs, such as getrawmempool with verbose=true, now return an additional “bip125-replaceable” value indicating whether the transaction (or its unconfirmed ancestors) opts-in to asking nodes and miners to replace it with a higher-feerate transaction spending any of the same inputs.
  • settxfee previously silently ignored attempts to set the fee below the allowed minimums. It now prints a warning. The special value of “0” may still be used to request the minimum value.
  • getaddressinfo now provides an ischange field indicating whether the wallet used the address in a change output.
  • importmulti has been updated to support P2WSH, P2WPKH, P2SH-P2WPKH, and P2SH-P2WSH. Requests for P2WSH and P2SH-P2WSH accept an additional witnessscript parameter.
  • importmulti now returns an additional warnings field for each request with an array of strings explaining when fields are being ignored or are inconsistent, if there are any.
  • getaddressinfo now returns an additional solvable boolean field when Litecoin Core knows enough about the address’s scriptPubKey, optional redeemScript, and optional witnessScript in order for the wallet to be able to generate an unsigned input spending funds sent to that address.
  • The getaddressinfo, listunspent, and scantxoutset RPCs now return an additional desc field that contains an output descriptor containing all key paths and signing information for the address (except for the private key). The desc field is only returned for getaddressinfo and listunspent when the address is solvable.
  • importprivkey will preserve previously-set labels for addresses or public keys corresponding to the private key being imported. For example, if you imported a watch-only address with the label “cold wallet” in earlier releases of Litecoin Core, subsequently importing the private key would default to resetting the address’s label to the default empty-string label (“”). In this release, the previous label of “cold wallet” will be retained. If you optionally specify any label besides the default when calling importprivkey, the new label will be applied to the address.
  • See the Mining section for changes to getblocktemplate.
  • getmininginfo now omits currentblockweight and currentblocktx when a block was never assembled via RPC on this node.
  • The getrawtransaction RPC & REST endpoints no longer check the unspent UTXO set for a transaction. The remaining behaviors are as follows: 1. If a blockhash is provided, check the corresponding block. 2. If no blockhash is provided, check the mempool. 3. If no blockhash is provided but txindex is enabled, also check txindex.
  • unloadwallet is now synchronous, meaning it will not return until the wallet is fully unloaded.
  • importmulti now supports importing of addresses from descriptors. A “desc” parameter can be provided instead of the “scriptPubKey” in a request, as well as an optional range for ranged descriptors to specify the start and end of the range to import. Descriptors with key origin information imported through importmulti will have their key origin information stored in the wallet for use with creating PSBTs. More information about descriptors can be found here.
  • listunspent has been modified so that it also returns witnessScript, the witness script in the case of a P2WSH or P2SH-P2WSH output.
  • createwallet now has an optional blank argument that can be used to create a blank wallet. Blank wallets do not have any keys or HD seed. They cannot be opened in software older than 0.18. Once a blank wallet has a HD seed set (by using sethdseed) or private keys, scripts, addresses, and other watch only things have been imported, the wallet is no longer blank and can be opened in 0.17.x. Encrypting a blank wallet will also set a HD seed for it.

Deprecated or removed RPCs

  • signrawtransaction is removed after being deprecated and hidden behind a special configuration option in version 0.17.0.
  • The ‘account’ API is removed after being deprecated in v0.17. The ‘label’ API was introduced in v0.17 as a replacement for accounts. See the release notes from v0.17 for a full description of the changes from the ‘account’ API to the ‘label’ API.
  • addwitnessaddress is removed after being deprecated in version 0.16.0.
  • generate is deprecated and will be fully removed in a subsequent major version. This RPC is only used for testing, but its implementation reached across multiple subsystems (wallet and mining), so it is being deprecated to simplify the wallet-node interface. Projects that are using generate for testing purposes should transition to using the generatetoaddress RPC, which does not require or use the wallet component. Calling generatetoaddress with an address returned by the getnewaddress RPC gives the same functionality as the old generate RPC. To continue using generate in this version, restart litecoind with the -deprecatedrpc=generate configuration option.
  • Be reminded that parts of the validateaddress command have been deprecated and moved to getaddressinfo. The following deprecated fields have moved to getaddressinfo: ismine, iswatchonly, script, hex, pubkeys, sigsrequired, pubkey, embedded, iscompressed, label, timestamp, hdkeypath, hdmasterkeyid.
  • The addresses field has been removed from the validateaddress and getaddressinfo RPC methods. This field was confusing since it referred to public keys using their P2PKH address. Clients should use the embedded.address field for P2SH or P2WSH wrapped addresses, and pubkeys for inspecting multisig participants.

REST changes

  • A new /rest/blockhashbyheight/ endpoint is added for fetching the hash of the block in the current best blockchain based on its height (how many blocks it is after the Genesis Block).

Graphical User Interface (GUI)

  • A new Window menu is added alongside the existing File, Settings, and Help menus. Several items from the other menus that opened new windows have been moved to this new Window menu.
  • In the Send tab, the checkbox for “pay only the required fee” has been removed. Instead, the user can simply decrease the value in the Custom Feerate field all the way down to the node’s configured minimum relay fee.
  • In the Overview tab, the watch-only balance will be the only balance shown if the wallet was created using the createwallet RPC and the disable_private_keys parameter was set to true.
  • The launch-on-startup option is no longer available on macOS if compiled with macosx min version greater than 10.11 (use CXXFLAGS=”-mmacosx-version-min=10.11″ CFLAGS=”-mmacosx-version-min=10.11″ for setting the deployment sdk version)

Tools

  • A new litecoin-wallet tool is now distributed alongside Litecoin Core’s other executables. Without needing to use any RPCs, this tool can currently create a new wallet file or display some basic information about an existing wallet, such as whether the wallet is encrypted, whether it uses an HD seed, how many transactions it contains, and how many address book entries it has.

Planned changes

This section describes planned changes to Litecoin Core that may affect other Litecoin software and services.

  • Since version 0.16.0, Litecoin Core’s built-in wallet has defaulted to generating P2SH-wrapped segwit addresses when users want to receive payments. These addresses are backwards compatible with all widely-used software. Starting with Litecoin Core 0.20, Litecoin Core will default to native segwit addresses (bech32) that provide additional fee savings and other benefits. Currently, many wallets and services already support sending to bech32 addresses, and if the Litecoin Core project sees enough additional adoption, it will instead default to bech32 receiving addresses in Litecoin Core 0.20. P2SH-wrapped segwit addresses will continue to be provided if the user requests them in the GUI or by RPC, and anyone who doesn’t want the update will be able to configure their default address type. (Similarly, pioneering users who want to change their default now may set the addresstype=bech32 configuration option in any Litecoin Core release from 0.16.0 up.)

Deprecated P2P messages

  • BIP 61 reject messages are now deprecated. Reject messages have no use case on the P2P network and are only logged for debugging by most network nodes. Furthermore, they increase bandwidth and can be harmful for privacy and security. It has been possible to disable BIP 61 messages since v0.17 with the -enablebip61=0 option. BIP 61 messages will be disabled by default in a future version, before being removed entirely.

Low-level changes

This section describes RPC changes mainly useful for testing, mostly not relevant in production. The changes are mentioned for completeness.

RPC

  • The submitblock RPC previously returned the reason a rejected block was invalid the first time it processed that block, but returned a generic “duplicate” rejection message on subsequent occasions it processed the same block. It now always returns the fundamental reason for rejecting an invalid block and only returns “duplicate” for valid blocks it has already accepted.
  • A new submitheader RPC allows submitting block headers independently from their block. This is likely only useful for testing.
  • The signrawtransactionwithkey and signrawtransactionwithwallet RPCs have been modified so that they also optionally accept a witnessScript, the witness script in the case of a P2WSH or P2SH-P2WSH output. This is compatible with the change to listunspent.
  • For the walletprocesspsbt and walletcreatefundedpsbt RPCs, if the bip32derivs parameter is set to true but the key metadata for a public key has not been updated yet, then that key will have a derivation path as if it were just an independent key (i.e. no derivation path and its master fingerprint is itself).

Configuration

  • The -usehd configuration option was removed in version 0.16. From that version onwards, all new wallets created are hierarchical deterministic wallets. This release makes specifying -usehd an invalid configuration option.

Network

  • This release allows peers that your node automatically disconnected for misbehavior (e.g. sending invalid data) to reconnect to your node if you have unused incoming connection slots. If your slots fill up, a misbehaving node will be disconnected to make room for nodes without a history of problems (unless the misbehaving node helps your node in some other way, such as by connecting to a part of the Internet from which you don’t have many other peers). Previously, Litecoin Core banned the IP addresses of misbehaving peers for a period of time (default of 1 day); this was easily circumvented by attackers with multiple IP addresses. If you manually ban a peer, such as by using the setban RPC, all connections from that peer will still be rejected.

Wallet

  • The key metadata will need to be upgraded the first time that the HD seed is available. For unencrypted wallets this will occur on wallet loading. For encrypted wallets this will occur the first time the wallet is unlocked.
  • Newly encrypted wallets will no longer require restarting the software. Instead such wallets will be completely unloaded and reloaded to achieve the same effect.
  • A sub-project of Litecoin Core now provides Hardware Wallet Interaction (HWI) scripts that allow command-line users to use several popular hardware key management devices with Litecoin Core. See their project page for details.

Security

  • This release changes the Random Number Generator (RNG) used from OpenSSL to Litecoin Core’s own implementation, although entropy gathered by Litecoin Core is fed out to OpenSSL and then read back in when the program needs strong randomness. This moves Litecoin Core a little closer to no longer needing to depend on OpenSSL, a dependency that has caused security issues in the past. The new implementation gathers entropy from multiple sources, including from hardware supporting the rdseed CPU instruction.

Changes for particular platforms

  • On macOS, Litecoin Core now opts out of application CPU throttling (“app nap”) during initial blockchain download, when catching up from over 100 blocks behind the current chain tip, or when reindexing chain data. This helps prevent these operations from taking an excessively long time because the operating system is attempting to conserve power.

Download Binaries

To download, please visit the download page here. Alternatively, you can view the download folder here.

Please use GPG to verify the integrity of the release binaries. This ensures that the binary you have downloaded has not been tampered with. Linux, MacOS and Win32 cygwin command line GPG instructions are available here. Please also note that we GPG sign the binaries as a convenience to you, the ultimate way to verify the integrity of the builds is to build them yourself using Gitian. Instructions on how to perform these builds, can be found here.

For this release, the binaries have been signed with key identifier FE3348877809386C (thrasher’s key).

WARNING

Despite this version being heavily tested, this version may still contain bugs. Always backup your wallet.dat file before upgrading. If you encounter any issues, please let us know by posting to the bug reporting section below.

Source code & Build instructions

The master branch contains the latest commits to the next stable releases of Litecoin Core.

litecoin-project/litecoin

Build instructions for Linux can be found here.

Build instructions for OSX can be found here.

Builds instructions for Windows can be found here.

Bug Reporting

Submit any issues you encounter here and one of the Litecoin developers will assist you.

litecoin-project/litecoin

Mailing Lists

Sign up for announcements only or development discussion.

  • litecoin-announce
  • litecoin-dev

Hashes for verification

These are the SHA-256 hashes of the released files:

e0bdd4aa81502551a0c5abcfaae52c8bbaf4a980548aa6c91053643d81924b51  litecoin-0.18.1-aarch64-linux-gnu.tar.gz
59b73bc8f034208295634da56a175d74668b07613cf6484653cb467deafb1d52  litecoin-0.18.1-arm-linux-gnueabihf.tar.gz
0a2788d58bd22c3754927e216bf18c64145b9fdc0d709f3f49ba3040b876a066  litecoin-0.18.1-i686-pc-linux-gnu.tar.gz
4ce590ecbaecaced7253473bc574a2b70527c9aeb3a3ab33a843ea1c9caf0c86  litecoin-0.18.1-osx64.tar.gz
b81d9101c6ecb38b7699cf3d05ab57df7922f40f23c8a3377750c335d7102266  litecoin-0.18.1-osx.dmg
e5585eaff887b9d3de9f14230db0375b858e5cccc571bdb909dfc337d5bd357c  litecoin-0.18.1-riscv64-linux-gnu.tar.gz
6dfa71ccf059463f0a304f85ff1ca8b88039d63e93269d6f056ab24915be936d  litecoin-0.18.1.tar.gz
778eac92953d82a3b2e0cdc925e7da9103edd0d9a9ffa151c3c7cc79b9814091  litecoin-0.18.1-win32-setup.exe
39d02e463893c970f92ed5ffcb603a1a7b2e2dacdaea306e8526414af841d247  litecoin-0.18.1-win32.zip
bd38a1d5d4ac1ca4246f9534032a369b0f3cd38fb2aa82c66010642fa72e65f7  litecoin-0.18.1-win64-setup.exe
9ff1f552f8ed3f058a56332defa7c61cfb345848428d7b419182096eca2ac99a  litecoin-0.18.1-win64.zip
ca50936299e2c5a66b954c266dcaaeef9e91b2f5307069b9894048acf3eb5751  litecoin-0.18.1-x86_64-linux-gnu.tar.gz

Credits

Thanks to everyone who directly contributed to this release:

  • The Bitcoin Core Developers
  • Adrian Gallagher
  • aunyks
  • coblee
  • cryptonexii
  • EP1JUNE
  • gabrieldov
  • jmutkawoa
  • Loshan
  • Martin Smith
  • NeMO84
  • OlegKozhemiakin
  • ppm0
  • romanornr
  • shaolinfry
  • spl0i7
  • stedwms
  • ultragtx
  • VKoskiv
  • voidmain
  • wbsmolen
  • xinxi


Litecoin Core v0.18.1 Release was originally published in Litecoin Project on Medium, where people are continuing the conversation by highlighting and responding to this story.

Price Analysis 6/10: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, ADA, XTZ – BTC Ethereum Crypto Currency Blog

Institutional investors are showing greater interest in cryptocurrency and this could result in a sharp move within the next few days.

About one-third of institutional investors surveyed by Fidelity said they have invested in digital assets. 25% of the survey participants said that they hold Bitcoin (BTC) and 11% confirmed that they hold Ether (ETH). While these are encouraging signs, the future looks even brighter as 91% of survey participants expect to hold at least 0.5% of their portfolio in crypto assets in the next five years.

Total Bitcoin options open interest has risen from $1 billion on May 7 to over $1.5 billion on June 9, according to data from Skew. This shows growing interest among institutional investors who expect the top-ranked cryptocurrency on CoinMarketCap to make a decisive move within the next few days.

Daily cryptocurrency market performance. Source: Coin360

For the past few weeks, the U.S. stock markets have been surging as optimism for a sharp economic rebound grows. The technology-heavy Nasdaq hit new lifetime highs which shows the euphoric sentiment among investors. However, eToro CEO Yoni Assia has cautioned investors of a stock market crash within three weeks.

If the equity markets do correct sharply, the money is likely to flow into safe haven assets. Even if a fraction of these funds enter Bitcoin a sharp move to the upside could take place.

Let’s study the charts to determine the critical levels to watch.

BTC/USD

Bitcoin (BTC) is getting ready for a large move. As the 20-day exponential moving average ($9,556) is gradually sloping higher and the relative strength index is in the positive territory, the advantage is with the bulls.

BTC/USD daily chart. Source: Tradingview

A breakout and close (UTC time) above the symmetrical triangle will signal strength and could result in a possible rally to $10,500. This is the critical resistance to watch out for because if the bulls can scale the price above it, the BTC/USD pair is likely to pick up momentum and rally to $12,000.

This bullish view will be invalidated if the pair reverses direction from the current levels and plummets below the support line of the triangle. Below the triangle, a decline to $8,130.58 is likely. A break below this critical support will turn the trend in favor of the bears.

ETH/USD

Although Ether (ETH) scaled above the immediate resistance of $247.827 on June 9, the bulls could not sustain the breakout. This suggests a lack of demand at higher levels. The price has again dipped back into the $247.827–$233.449 range.

ETH/USD daily chart. Source: Tradingview

However, as long as the price remains inside the ascending channel and the moving averages continue to slope up, the advantage remains with the bulls.

If the second-ranked cryptocurrency on CoinMarketCap rebounds off the 20-day EMA ($231), the bulls will attempt to push it above the $249.699–$253.556 resistance zone. If successful, a move to the resistance line of the ascending channel at $280 is likely.

Conversely, if the bears sink the ETH/USD pair below the 20-day EMA, a drop to the uptrend line and then to the 50-day simple moving average ($212) is possible. A break below the 50-day SMA will signal a possible change in trend.

XRP/USD

XRP has been trading close to the moving averages for the past few days, which shows that both the bulls and the bears are not waging large bets. The flat moving averages and the RSI close to the midpoint suggests a balance between supply and demand.

XRP/USD daily chart. Source: Tradingview

The third-ranked cryptocurrency on CoinMarketCap has formed a symmetrical triangle. The next trending move is likely to start after the price escapes the triangle.

If the bulls can breakout and close (UTC time) the price above the resistance line of the triangle, the uptrend is likely to begin. The pattern target of this formation is $0.2707. However, it is unlikely to be a straight dash up as the bears will mount a stiff challenge at $0.235688 and again at $0.246094.

The bearish view will come into play if the XRP/USD pair turns down from the current levels and plummets below the support line of the triangle. Below this level, the target objective is $0.1244. However, the bulls are likely to defend the $0.16 and the $0.14 levels aggressively.

BCH/USD

Bitcoin Cash (BCH) has bounced off the 20-day EMA ($248), which is a positive sign. If the bulls can sustain the price above $260, a move to the top of the range at $280.47 is possible.

BCH/USD daily chart. Source: Tradingview

If the bulls can carry the fifth-ranked cryptocurrency on CoinMarketCap above $280.47, a new uptrend is likely. The target objective of this up move is $350.

However, if the BCH/USD pair turns down from $280.47, a few more days of range-bound action is likely.

The bearish scenario will come into play if the pair breaks below the moving averages. Such a move will indicate that the bears have overpowered the bulls and a drop to $200 could be on the cards.

BSV/USD

Bitcoin SV (BSV) has been trading just below $200 levels for the past few days. Both moving averages are flat and the RSI is close to the midpoint, which suggests a balance between buyers and sellers.

BSV/USD daily chart. Source: Tradingview

If the bulls can push the sixth-ranked cryptocurrency on CoinMarketCap above $200, a move to $227 is possible. If the BSV/USD pair turns down from this level, the range-bound action is likely to continue. Instead, if the bulls can propel the pair above $227, a new uptrend is possible.

On the downside, the critical support to watch out for is $170. If this support holds, the pair will extend its consolidation for a few more days. But if the support breaks down, the pair can drop to $146. Traders can wait for the pair to make a decisive move out of the range before initiating a positional trade.

LTC/USD

Litecoin (LTC) has been gradually grinding lower. The bulls have held the 50-day SMA ($45) for the past few days but unless the altcoin bounces off strongly from the current levels, the risk of a breakdown is high.

LTC/USD daily chart. Source: Tradingview

Below the 50-day SMA, the seventh-ranked cryptocurrency on CoinMarketCap is likely to drop to $41.72 and then to $39. If this support holds, the LTC/USD pair might extend its stay inside the $39–$51 range for a few more days.

Alternatively, if the pair rebounds off the current levels, it can reach the overhead resistance at $51. If the price turns down from this level, the range-bound action is likely to continue. But if the bulls can propel the pair above $51, the momentum is likely to pick up. The target objective of this new uptrend is $64.

BNB/USD

Although bulls have not been able to propel Binance Coin (BNB) above the overhead resistance of $18.1377, they have not allowed the price to sustain below the moving averages either, which is a positive sign.

BNB/USD daily chart. Source: Tradingview

The bulls are likely to make another attempt to push the eighth-ranked crypto-asset on CoinMarketCap above $18.1377. If successful, the momentum is likely to pick up. The first target objective is $21.50 and then $24.

Conversely, if the BNB/USD pair slips below the moving averages, the bears are likely to be back in action. They will attempt to drag the pair to $15.50 and then to $13.65.

EOS/USD

EOS has been stuck between the moving averages and the overhead resistance of $2.8319 for the past few days. Both moving averages have flattened out and the RSI is just above the 50 level, suggesting a balance between supply and demand.

EOS/USD daily chart. Source: Tradingview

A break below the moving averages will indicate an advantage to the bears and can drag the ninth-ranked cryptocurrency on CoinMarketCap to $2.3314.

On the other hand, if the EOS/USD pair bounces off the moving averages and breaks out of $2.3314, it will suggest that the bulls have overpowered the bears.

Above this resistance, a move to $3.1104 is possible. If this level is also scaled, the momentum is likely to pick up, which could open the doors for a rally to $3.8811.

ADA/USD

Cardano (ADA) is witnessing profit booking after a strong run. The altcoin can pull back to the 38.2% Fibonacci retracement level of $0.0751964. The 20-day EMA ($0.0748) is just below this level. Hence, the bulls are likely to defend this zone aggressively.

ADA/USD daily chart. Source: Tradingview

If the 10th-ranked cryptocurrency on CoinMarketCap rebounds off the 20-day EMA, the bulls will attempt to propel it above $0.0901373. If successful, the uptrend is likely to resume with $0.1–$0.10652 as the target objective.

Conversely, if the bears sink the ADA/USD pair below the 20-day EMA, a drop to the 50% retracement level of $0.0705811 is possible. A break below this support will indicate that the momentum has weakened.

XTZ/USD

There is a tough tussle between the bulls and the bears near the 20-day EMA ($2.85). If Tezos (XTZ) breaks below the 20-day EMA, it could slide to the immediate support at $2.7301.

XTZ/USD daily chart. Source: Tradingview

The 20-day EMA has been flattening out and the RSI is just above the midpoint, which points to a balance between demand and supply. In the short-term, the 11th-ranked cryptocurrency on CoinMarketCap might remain stuck between $2.7301 and $3.1384.

The advantage will shift in favor of the bulls after the price breaks above $3.1384. Above this level, a rally to $3.60 and then to $3.9499 is possible. Conversely, if the bears sink the XTZ/USD pair below $2.7301, a drop to $2.24 is possible.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Virtual Assets Unleashes Retail Cash Reload Innovation for Purchasing Cryptocurrency – BTC Ethereum Crypto Currency Blog

Instantly add cash to your Crypto Dispensers account with Green Dot @ the Register

Chicago, IL – Virtual Assets, LLC is pleased to announce that it has entered into an agreement with Green Dot Corporation (NYSE:GDOT) to enable customers to purchase cryptocurrency with cash. This new service leverages Green Dot’s mobile and web-enabled barcode generation system and thousands of Green Dot retail locations to provide a new cash-loading option for purchasing major cryptocurrencies. Through this integration, users will now be able to securely and conveniently add cash to their Crypto Dispensers accounts at thousands of participating retailers.

Crypto Dispensers, an online cryptocurrency exchange platform provided by Virtual Assets, has started to invite users to register on their new website. The site has been designed to offer investors an innovative medium to purchase major cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin, with fiat money. Created with the user experience in mind, the site will allow verified customers to fund their accounts with cash by visiting any participating retailer in the country.

“We’re reinventing what people can do with their cash,” says Firas Isa, Founder of Virtual Assets, creator of the Crypto Dispensers online site. Utilizing Green Dot’s innovative cash reload network, our customers can now load their accounts with cash. Once the cash has been loaded, our customers can buy and transfer cryptocurrency instantly from their desktop or mobile browser. We are thrilled to enable people from all walks of life to invest in crypto quickly, securely and conveniently.”

As the name implies, “Green Dot @ the Register” allows users to fund their Crypto Dispensers account by simply going to the register at any participating retailer. After scanning the customer’s barcode, the cashier collects the cash the consumer wishes to load to their Crypto Dispensers account, along with any applicable reload fees. The retailer’s terminal is connected to Green Dot’s data processing center, where Green Dot can see the transaction in real-time, allowing Crypto Dispensers to automatically credit loaded funds to the customer’s account.

To load your Crypto Dispensers account, simply follow these steps:
Register by verifying your identity at www.cryptodispensers.com

Load between $20 to $500 using the barcode for a fee of up to $4.95.
The credit will appear in your account at the next login within 10 minutes.
Add a cryptocurrency wallet address to your account.
Use the credit to instantly buy and send cryptocurrency.
Reload and repeat.

“The process for purchasing cryptocurrency at participating Green Dot @ the Register locations is not only simple, but also much safer and more secure than using traditional Bitcoin ATMs,” Isa states. “Ultimately, this integration breaks down entry barriers to digital money and creates greater financial opportunities for hardworking individuals.”
Green Dot @ the Register is available at more than 24,000 retailer locations, a comprehensive list of which can be found by visiting the new Crypto Dispensers website. Virtual Assets is also currently coordinating with additional retailers to further expand their new service.

For more information about Crypto Dispensers, or to locate a participating retailer near you, please visit https://www.cryptodispensers.com.

About the Company
Virtual Assets is a cryptocurrency exchange company based in Chicago, IL with a mission to contribute in the effort of taking cryptocurrency mainstream. Through this new partnership users will now be able to instantly add cash to their Crypto Dispensers accounts to buy and send cryptocurrencies at thousands of participating retailer locations across the country. 

Contacts
Virtual Assets, LLC

Investor Relations
Firas Isa, 708-879-9344
[email protected]

Supporting Link
https://cryptodispensers.com/


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post Virtual Assets Unleashes Retail Cash Reload Innovation for Purchasing Cryptocurrency appeared first on Bitcoin News.

https://news.bitcoin.com/virtual-assets-unleashes-retail-cash-reload-innovation-purchasing-cryptocurrency/

Original Article
Author: btcethereumadmin

Price Analysis 6/8: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, ADA, XTZ – BTC Ethereum Crypto Currency Blog

Bitcoin price remains range-bound, but as miners sell fewer coins and the BTC reserves on the exchanges drops, a possible up move could occur in the next few days.

The total crypto market capitalization was close to $270 billion on May 8 and currently, the metric stands at $275 billion. This suggests that the crypto markets have been largely stuck in a range for about a month. 

Daily cryptocurrency market performance. Source: Coin360

As reported by Cointelegraph, Bitcoin (BTC) miners are holding on to their newly minted coins and this behavior usually occurs when Bitcoin holders expect higher price in the future. Data also shows that Bitcoin reserves on cryptocurrency exchanges have plunged to a 12-month low

The fundamentals are pointing to a possible rally in Bitcoin, but do the technicals also project a bullish picture? Let’s find out.

BTC/USD

The top-ranked cryptocurrency on CoinMarketCap is being squeezed between the 20-day exponential moving average ($9,499) and the resistance line of the symmetrical triangle. A tight consolidation near a critical resistance can be a sign of accumulation by the bulls.

BTC/USD daily chart. Source: Tradingview

The upsloping moving averages and the relative strength index in positive territory suggest that bulls have the upper hand. If the bulls can drive the price above the resistance line of the symmetrical triangle a retest of $10,500 is possible. 

This is a critical level to watch out for. If the bulls can push the price above $10,500 a sustained up move is likely to begin as traders sitting on the sidelines will be forced to jump in.

Conversely, if the BTC/USD pair turns down from $10,500 once again, it could result in a long liquidation that drags the price to $8,130.58. If this support cracks the decline can extend to $6,500. 

ETH/USD

Ether (ETH) is currently consolidating in an uptrend. It has been stuck inside a tight range of $247.827–$233.449 for the past few days. This suggests that both the bulls and the bears are waiting for the next trending move to begin.

ETH/USD daily chart. Source: Tradingview

A breakout of the $247.827– $253.556 resistance zone will signal that bulls have overpowered the bears. Above this zone, a rally to the resistance line of the ascending channel at $277 is likely.

The upsloping moving averages and the relative strength index above 60 suggests that bulls have the upper hand.

Conversely, if the bears sink the second-ranked cryptocurrency on CoinMarketCap below the $233.449–$227.097 support zone, a deeper correction to the 50-day simple moving average ($209.52) is possible.

XRP/USD

After failing to rebound off the moving averages, XRP is currently under pressure from sellers. If the bears can sink the price below the immediate support of $0.19614, a drop to $0.19130 is likely. 

XRP/USD daily chart. Source: Tradingview

On a break below $0.19130 a retest of the critical support at $0.17372 is possible. If this support gives way, the third-ranked cryptocurrency on CoinMarketCap will complete a bearish descending triangle pattern, which will be a huge negative.

This bearish view will be invalidated if the bulls drive the price above the downtrend line. Above this level, a rally to $0.23612 is possible. However, as the XRP/USD pair has been a huge underperformer for the past few months, traders should be careful before initiating fresh long positions.

BCH/USD

Although Bitcoin Cash (BCH) rose above the overhead resistance of $255.46 on June 4, the bulls could not sustain the breakout. The price dipped back below $255.46 on June 6 and this suggests a lack of demand at higher levels.

BCH/USD daily chart. Source: Tradingview

If the fifth-ranked cryptocurrency on CoinMarketCap breaks below the moving averages, a drop to $217.55 is possible.

On the other hand, if the bulls can sustain the price above $255.46, a rally to $280.47 is likely. This is a critical resistance to watch out for because if this is taken out, the possibility of a new uptrend increases.

As the BCH/USD pair has spent a long time inside the range, the next trending move is likely to be a strong one.

BSV/USD

The lack of a trending move has driven the traders away from Bitcoin SV (BSV). Both moving averages are flat and the RSI is just below the 50 levels, which suggests a balance between supply and demand.

BSV/USD daily chart. Source: Tradingview

If the bears can sink the sixth-ranked cryptocurrency on CoinMarketCap below $186, a drop to $170 is possible. A break below this support could start a new downtrend.

Conversely, a strong bounce off $170 will indicate that the bulls are buying on dips to the bottom of the range. That could keep the BSV/USD pair range-bound for a few more days.

On the upside, the next trending move is likely to start above $227. Until then, the price action is likely to be tepid and directionless.

LTC/USD

Litecoin (LTC) has again dipped back to the moving averages. If the bears sink the price below the 50-day SMA ($44.93), the altcoin can dip to the support of the large $39–$50.7864 range.

LTC/USD daily chart. Source: Tradingview

On the other hand, if the seventh-ranked cryptocurrency on CoinMarketCap rebounds off the current levels, the bulls will make another attempt to climb above the $50.7864–$52.2803 resistance zone. If successful, a new uptrend to $64 is likely.

As the LTC/USD pair has been stuck in a range, the price action is likely to remain volatile with both the bulls and the bears attempting to assert their supremacy. The next trending move will start on a breakout of $52.2803 or on a break below $39. 

As the pair has spent a long time inside the range, a breakout of it is likely to be a significant event that can offer an opportunity to the traders.

BNB/USD

After defending the overhead resistance of $18.1377, the bears are now attempting to sink 

Binance Coin (BNB) below the 50-day SMA ($16.63). If successful, a drop to $15.70 and then to $14.95 is possible. 

BNB/USD daily chart. Source: Tradingview

Conversely, if the eighth-ranked crypto-asset on CoinMarketCap bounces off the moving averages, the bulls will make another attempt to clear the overhead resistance.

If successful, the trend followers and the momentum traders are likely to jump in. That can drive the BNB/USD pair to $21.50. The moving averages are gradually sloping up and the RSI is just above the midpoint, suggesting that bulls have a marginal advantage.

EOS/USD

EOS has failed to break out and sustain above $2.8319 for the past three days. This suggests that the bears are aggressively defending this resistance. If the bears sink the altcoin below the moving averages, a drop to $2.3314 is possible.

EOS/USD daily chart. Source: Tradingview

Conversely, if the ninth-ranked cryptocurrency on CoinMarketCap rebounds off the moving averages, the bulls will make another attempt to push the price above $2.8319.

If successful, a rally to $3.1104 is possible. A breakout of this resistance will signal the start of a potential uptrend with a target objective of $3.8811.

However, if the EOS/USD pair turns down from $2.8319, it will extend its stay inside the range for a few more days. The pair will turn negative on a break below $2.3314.

ADA/USD

Cardano (ADA) is currently correcting in a strong uptrend. If the bulls do not give up much ground, it increases the possibility of resumption of the uptrend. Both moving averages are sloping up and the RSI is in the overbought zone which suggests that bulls are in command.

ADA/USD daily chart. Source: Tradingview

The first strong support is at the 38.2% Fibonacci retracement level of $0.0751964. The 20-day EMA ($0.0730) is placed just below this support. Hence, the bulls are likely to defend this zone aggressively.

A bounce off this zone will indicate that the bulls are not waiting for a deeper correction to get in. This increases the likelihood of a breakout of $0.0901373. Above this resistance, the 10th-ranked cryptocurrency on CoinMarketCap can rally to the $0.1–$0.10652 zone.

This bullish view will be invalidated if the ADA/USD pair dips below the 50% Fibonacci retracement level of $0.0705811. 

XTZ/USD

Tezos (XTZ) has been trading inside the intraday range made on June 2. The bears attempted to drag the altcoin below the 20-day EMA ($2.84) on June 7 but could not hold on to the lower levels.

XTZ/USD daily chart. Source: Tradingview

This suggests that the bulls are aggressively defending the 20-day EMA. If they can carry the 11th-ranked cryptocurrency on CoinMarketCap above the $3.073–$3.138 resistance zone, the momentum is likely to pick up and drive the price above the next resistance at $3.3367. Above this level, the rally can extend to $3.80.

This bullish view will be invalidated if the XTZ/USD pair turns down and slides below the moving averages. Such a move will indicate that the bears are aggressively defending the overhead resistance at $3.073.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Ball’s in Their Court: Crypto Custodians Waiting on Regulators to Act

ball’s-in-their-court:-crypto-custodians-waiting-on-regulators-to-act

Crypto custody firms are mostly treated like traditional assets, ignoring the uniqueness of digital assets and its various complexities.

The business of cryptocurrency custody is getting more competitive and lucrative by the day. The most recent announcement has come from Switzerland, where local family-owned bank Maerki Baumann announced on May 29 that it had expanded its cryptocurrency services through the introduction of crypto custody and trading. The private bank first announced its crypto initiatives in 2019 by extending business account services to blockchain companies.

Thanks to regulatory approval from the Swiss Financial Market Supervisory Authority, Maerki Baumann will initially offer trading and custody services on five major cryptos including Bitcoin, Ether, XRP, Bitcoin Cash and Litecoin. The bank’s announcement came a month after the Capital Markets and Technology Association, also based in Switzerland, published a common industry standard for the management and custody of crypto assets

Dubbed “Digital Assets Custody Standard,” the document attempts to elucidate how the custody of digital assets differs from that of traditional assets. Having identified the differences, the CMTA then laid down foundational security and operational requirements for crypto custody providers.

Custody for all

It seems that the biggest players in crypto have now turned their attention to the crypto custody sector, as a flurry of deals and partnerships were announced during recent months. For example, crypto exchange Bitfinex announced a partnership with London-based digital asset custodian Koine, while the New York-based crypto lending firm Genesis Capital acquired custody startup Volt. Additionally, crypto derivatives platform Bakkt claimed on May 18 that it had onboarded more than 70 crypto custody clients.

Despite the growing custody-related activities, though, regulations around crypto custody remain vague across different jurisdictions. A recent study published by researchers at Leiden Law School in the Netherlands specifically points to the handling of asset retrieval in the event of insolvency as a problematic area.

While experts believe that crypto regulation is needed, given the uniqueness of crypto assets, many regulators continue to treat coins and tokens almost in a similar fashion to traditional assets.

Traditional rules and crypto

To understand why traditional rules are ill-suited for crypto assets, CEO and co-founder of Trustology Alex Batlin believes one should first consider why these rules were enacted initially, telling Cointelegraph:

“The main reason you have the regulations is that, at some point, a custodian made a mistake, or stole money or performed operations they shouldn’t have performed. And these mistakes are typically not easy to spot because most of the record-keeping was always internal to the company.”

For this reason, most rules talk about very stringent record-keeping and transparency, because it’s easier to resolve issues if they are spotted early enough. However, this is based on the premise that only the record-keeping companies have access to the ledgers under custody, and therefore, have to constantly provide means for clients and regulators to audit their internal accounts. “However, the blockchain technology, which powers crypto assets, isn’t haunted by this conundrum since the records are there for everyone to see,” Batlin said.

Digital assets, by design, offer better transparency compared to traditional assets. Still, it’s worth pointing out that the transparency level varies from one custody model to the other. This, along with other unique features such as ownership and immutability makes a case for purpose-built crypto rules.

CMTA’s standard presents a starting point

The digital asset standard that CMTA proposes breaks down the different models by which custodians may operate. The document focused on two institutional-grade custody models. These include pooled and allocated distributed ledger accounts, or DLAs.

In a pooled model, the custodian pulls client assets together in one or several accounts. This model is what most cold storage custody solutions employ. According to CTMA, this model could take two main forms:

  • Placing client-only assets in one or several pooled DLAs
  • Co-mingling a custodian’s own assets with client assets across one or several DLAs

In an allocated DLA model, the custodian dedicates one or several DLAs to a single client. In other words, while each DLA may be dedicated to different assets, it cannot be credited to more than one client. Batlin believes these classifications provide insights into the inner workings of different models, and should help regulators develop suitable rules.

For instance, while clients may be able to track funds in pooled DLAs if they know the addresses, they lack the ability to tell whose funds are being moved and if it’s authorized. That’s different for segregated models in which clients can independently monitor their respective accounts and immediately call out any irregularities. 

In addition, with segregated accounts, Anti-Money Laundering compliance is potentially more transparent than with pool accounts. “The regulatory requirements should, therefore, treat co-mingled models differently from segregated accounts,” according to Batlin.

The risk of rigid regulation 

At best, the CMTA’s document can only be a starting point for suggesting how the sector should be regulated. Some industry participants believe that it doesn’t take the latest developments in custody tech (multiparty computation) into consideration. Kevin Lehtiniitty, chief technical officer and chief product officer at Prime Trust, spoke to Cointelegraph about the challenges of dealing with rules in different regions:

“Regulations are very jurisdictional. The way we operate in the U.S. is different from Europe and Japan, thanks to jurisdictional regulations. However, since blockchain assets are truly global assets, they need a global regulatory standard and not a jurisdictional standard. Regulators need to take a patient, measured approach, else they risk stifling innovation.”

An example of this problem ensued at the crypto exchange Liquid after it switched to the MPC custodian solution. The exchange said MPC allowed it to reduce its dependence on cold storage by up to 90% while maintaining a “zero-compromise level of security.” Despite the efficiency gains, the exchange had to keep 100% of the funds of its Japan-based clients in cold storage just because of local law. “This sort of disparity in regulations would make some regions less competitive than others,” Michael Shaulov, CEO and co-founder of Fireblocks — an asset transfer network provider — told Cointelegraph, adding:

“All in all, while the standard is good progress, it doesn’t push for the adoption of the newest technologies and that can leave certain custodians behind with offerings that are not as secure or operationally efficient as in other geographies.”

Current state of crypto custody regulations across different jurisdictions

In general, present regulations globally treat crypto custodians in a similar manner to traditional asset keepers without taking into account the distinctiveness of crypto. The more advanced regulations only go as far as defining what constitutes crypto custody and/or setting guidelines for storage allocation between online and offline wallets.

New York

The New York Department of Financial Services, or NYDFS, being one of the most prominent and active financial regulators in the world, was one of the first regulators to make a move to put a leash on crypto trading and payment industry by issuing a Bitlicense. Crypto giants Coinbase and Gemini currently hold the license. However, the law, for the most part, only integrates crypto companies into NYDFS’s already robust financial regulation bracket.

The Bitlicense requires custodians to maintain a USD-denominated surety bond or trust account as security against customers’ funds. The NYDFS’s superintendent determines the amount to be held as security. The law does however prohibit custodians from selling or transferring clients’ assets without their permission.

Wyoming

The U.S. State of Wyoming is the only known geographical region with an advanced regulatory framework for crypto custody. The state goes beyond online-offline storage requirements to purpose-built provisions that address the uniqueness of crypto assets. In November 2019, Wyoming revealed a series of opt-in custody provisions that cover crypto-specific topics like ownership, forks, airdrops and staking, which also clarified that custodians cannot use clients’ assets without their approval.

This differs from the custody of traditional assets, in which owners are de facto creditors whose custodians are surreptitiously doing business — lending and rehypothecation, for instance — with customer assets. What’s more, the rule is clear that “all ancillary or subsidiary proceeds” relating to digital assets in custody are credited to the customers, like proceeds from forks, airdrops, staking and any other event that changes the value of an asset.

Switzerland

The country’s top financial regulator, FINMA, is one of the world’s most active regulators in the crypto space. Last year, the Swiss Federal Council published a draft law relating to digital assets. With regard to custody, the focus is mostly on the handling of client assets in the event of bankruptcy. 

The draft amends the Swiss Debt Collection and Bankruptcy Act in that insolvency proceedings should exclude client assets even if they’re held collectively across single or several accounts with the custodian’s assets. This seeks to resolve the challenge of proof-of-ownership arising from the fact that crypto assets are bearer’s assets, compared to traditional securities.

Germany

Germany egan requiring crypto custodians to obtain a license from Jan. 1, 2020, following the implementation of the 5th Anti-Money Laundering Directive legislation, which mandated EU member countries to subject crypto companies to the same Anti-Money Laundering requirements as traditional financial firms.

Germany’s crypto custody regulations are still evolving, however. The German regulatory body Federal Financial Supervisory Authority has so far only made provisions for defining a custodian and what constitutes regulated custodial activities. It remains unclear whether BaFin will develop rules to accommodate the uniqueness of crypto assets.

Japan

After finding itself right in the thick of the 2017 crypto fever, Japan swiftly moved to start regulating crypto activities after the threats of money laundering and terrorist financing became apparent. Any exchange wishing to operate in Japan needs to first obtain a license from the Financial Services Agency, the country’s principal financial regulator. The country presently has 23 FSA-approved crypto exchanges.

In 2020, the FSA expanded its crypto regulatory oversight to include crypto custody via an amendment to the country’s Payment Services Act, under which it regulates crypto exchanges, requiring custodians to register as cryptocurrency exchanges — even if they don’t intermediate the sale and purchase of crypto or buy and sell themselves. 

The law also requires custody service providers to keep the majority of customers’ assets offline and in a segregated manner, with no more than 5% of funds kept in hot wallets, and even then, the provider must hold the same amount of crypto of its own in an offline environment as a guarantee.

The post Ball’s in Their Court: Crypto Custodians Waiting on Regulators to Act appeared first on BTC Ethereum Crypto Currency Blog.

Original Article
Author: btcethereumadmin

Virtual Assets Unleashes Retail Cash Reload Innovation for Purchasing Cryptocurrency – BTC Ethereum Crypto Currency Blog

Instantly add cash to your Crypto Dispensers account with Green Dot @ the Register

Chicago, IL – Virtual Assets, LLC is pleased to announce that it has entered into an agreement with Green Dot Corporation (NYSE:GDOT) to enable customers to purchase cryptocurrency with cash. This new service leverages Green Dot’s mobile and web-enabled barcode generation system and thousands of Green Dot retail locations to provide a new cash-loading option for purchasing major cryptocurrencies. Through this integration, users will now be able to securely and conveniently add cash to their Crypto Dispensers accounts at thousands of participating retailers.

Crypto Dispensers, an online cryptocurrency exchange platform provided by Virtual Assets, has started to invite users to register on their new website. The site has been designed to offer investors an innovative medium to purchase major cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin, with fiat money. Created with the user experience in mind, the site will allow verified customers to fund their accounts with cash by visiting any participating retailer in the country.

“We’re reinventing what people can do with their cash,” says Firas Isa, Founder of Virtual Assets, creator of the Crypto Dispensers online site. Utilizing Green Dot’s innovative cash reload network, our customers can now load their accounts with cash. Once the cash has been loaded, our customers can buy and transfer cryptocurrency instantly from their desktop or mobile browser. We are thrilled to enable people from all walks of life to invest in crypto quickly, securely and conveniently.”

As the name implies, “Green Dot @ the Register” allows users to fund their Crypto Dispensers account by simply going to the register at any participating retailer. After scanning the customer’s barcode, the cashier collects the cash the consumer wishes to load to their Crypto Dispensers account, along with any applicable reload fees. The retailer’s terminal is connected to Green Dot’s data processing center, where Green Dot can see the transaction in real-time, allowing Crypto Dispensers to automatically credit loaded funds to the customer’s account.

To load your Crypto Dispensers account, simply follow these steps:
Register by verifying your identity at www.cryptodispensers.com

Load between $20 to $500 using the barcode for a fee of up to $4.95.
The credit will appear in your account at the next login within 10 minutes.
Add a cryptocurrency wallet address to your account.
Use the credit to instantly buy and send cryptocurrency.
Reload and repeat.

“The process for purchasing cryptocurrency at participating Green Dot @ the Register locations is not only simple, but also much safer and more secure than using traditional Bitcoin ATMs,” Isa states. “Ultimately, this integration breaks down entry barriers to digital money and creates greater financial opportunities for hardworking individuals.”
Green Dot @ the Register is available at more than 24,000 retailer locations, a comprehensive list of which can be found by visiting the new Crypto Dispensers website. Virtual Assets is also currently coordinating with additional retailers to further expand their new service.

For more information about Crypto Dispensers, or to locate a participating retailer near you, please visit https://www.cryptodispensers.com.

About the Company
Virtual Assets is a cryptocurrency exchange company based in Chicago, IL with a mission to contribute in the effort of taking cryptocurrency mainstream. Through this new partnership users will now be able to instantly add cash to their Crypto Dispensers accounts to buy and send cryptocurrencies at thousands of participating retailer locations across the country. 

Contacts
Virtual Assets, LLC

Investor Relations
Firas Isa, 708-879-9344
[email protected]

Supporting Link
https://cryptodispensers.com/


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post Virtual Assets Unleashes Retail Cash Reload Innovation for Purchasing Cryptocurrency appeared first on Bitcoin News.

https://news.bitcoin.com/virtual-assets-unleashes-retail-cash-reload-innovation-for-purchasing-cryptocurrency/

Original Article
Author: btcethereumadmin

Price Analysis 6/5: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, ADA, XTZ – BTC Ethereum Crypto Currency Blog

Many cryptocurrencies are showing strength by hovering close to their recent highs even as gold is selling off.

The U.S. equity markets are on a tear as the traders cheer the largest jobs gain ever. This report has improved sentiment as it suggests that the blip in the economy due to the pandemic was temporary. 

Many traders who had been sitting on the sidelines are likely to jump into stocks due to fear of missing out on what could be the early stages of a strong rally. This shift into stocks has resulted in a drop in gold price, which is considered as a safe haven against market volatility.

However, it is important to note that the crypto markets were not impacted as negatively and are holding up quite well. This shows that traders are not shifting out of cryptocurrencies as they expect prices to rise further. After the euphoria in the stock markets reduces, traders are likely to shift their focus back to cryptocurrencies. 

Daily cryptocurrency market performance. Source: Coin360

While the short-term looks uncertain, a report by Bloomberg states that Bitcoin (BTC) will retest it’s all-time high and might even reach a new high of $28,000 this year. The report points to the pick up in demand from the institutional investors as indicated by the rise in the assets under management at Grayscale Bitcoin Trust.

The top-ranked cryptocurrency on CoinMarketCap is close to a critical resistance. Will it breakout or turn down from here? Let’s study the charts to find out the path of least resistance. 

BTC/USD

Bitcoin (BTC) has been trading between the resistance line of the symmetrical triangle and the 20-day exponential moving average ($9,441) for the past two days. This suggests a tussle between the bulls and the bears for supremacy.

BTC/USD daily chart. Source: Tradingview

A breakout of the triangle will be the first indication that bulls have overpowered the bears. Above the triangle, a rally to $10,500 is likely. This level would be the acid test for bulls because if $10,500 is scaled, the next leg of the uptrend is likely to begin.

Conversely, if the BTC/USD pair turns down from the current levels and drops below the 20-day EMA, a decline to the support line of the triangle is possible. The 50-day simple moving average ($8,322) is just below the triangle, hence, the bulls are likely to aggressively defend this support zone.

Nevertheless, if the pair slips below the 50-day SMA, a drop to $8,130.58 and below it to $6,752 is likely.

ETH/USD

For the past two days, Ether (ETH) has been stuck inside the large intraday range formed on June 2. If the bulls can propel the price above $253.556, the biggest altcoin could rally to the resistance of the ascending channel at $270. 

ETH/USD daily chart. Source: Tradingview

The upsloping moving averages and the RSI above 60 indicates that bulls have the upper hand. However, if the second-ranked cryptocurrency on CoinMarketCap turns around from the current levels and plummets below the 20-day EMA ($224) the bullish momentum will weaken. 

The bears will gain the upper hand after the ETH/USD pair dips below the 20-day SMA. Below this level a drop to the 50-day SMA (205) and then to $176.112 is possible.

XRP/USD

XRP has been trading close to the moving averages for the past two days. The failure of the bulls to achieve a strong rebound off this support indicates a lack of demand at these levels.

XRP/USD daily chart. Source: Tradingview

If the bears sink the third-ranked cryptocurrency on CoinMarketCap below the moving averages, a drop to $0.19 and then to $0.17372 is possible. A breakdown below this support will complete a bearish descending triangle pattern, which will be a huge negative.

On the other hand, if the XRP/USD pair picks up momentum and breaks out of the downtrend line, the bulls will attempt to carry the price to the $0.23612–$0.24770 resistance zone.

The bears are likely to defend this zone aggressively, therefore, traders can book profits when the price nears it. Currently, the stops can be retained at $0.19 but can be trailed higher after the pair sustains above the downtrend line.

BCH/USD

The bulls have once again pushed the price of Bitcoin Cash (BCH) above the overhead resistance of $255.46. If the bulls can sustain this level, the altcoin is likely to rise to the critical resistance of $280.47. 

BCH/USD daily chart. Source: Tradingview

A breakout of $280.47 could start a new uptrend that can carry the fifth-ranked cryptocurrency on CoinMarketCap to $350. The traders can buy on a close (UTC time) above $280.47 with a stop below $235.

However, if the BCH/USD pair turns down from the current levels and slides below the moving averages, a drop to $217.55 and then to $200 is likely. The next leg of the down move could start if $200 gives way.

BSV/USD

Bitcoin SV (BSV) has been clinging to the moving averages for the past two days. This suggests that neither the bulls nor the bears are showing any interest in trading the altcoin at the current levels.

BSV/USD daily chart. Source: Tradingview

As the trading range has been in place for more than two months, a strong momentum is needed to start the next trending move. 

Traders can keep an eye on the $227 level as a close (UTC time) above it will signal the possible start of a new uptrend. Such a breakout can offer a buying opportunity to the traders with a target objective of $326.80.

On the other hand, if the sixth-ranked cryptocurrency on CoinMarketCap plummets below $170, a new downtrend is likely to begin. 

LTC/USD

Although Litecoin (LTC) has bounced off the moving averages, the bulls are struggling to reach the resistance of the range at $50.7864–$52.2803. This suggests a lack of conviction among the buyers.

LTC/USD daily chart. Source: Tradingview

Without a pickup in momentum, the bulls will find it difficult to scale above the overhead resistance. This indicates that the seventh-ranked cryptocurrency on CoinMarketCap could extend its stay inside the range for a few more days.

The bullish scenario would come into play if the LTC/USD pair breaks out and closes (UTC time) above $52.2803. Such a move can offer a buying opportunity to the traders as suggested in the previous analysis.

Conversely, the trend will turn in favor of the bears on a break below the support of the range at $39.

BNB/USD

Binance Coin (BNB) continues to trade between the 20-day EMA ($17) and the overhead resistance of $18.1377 for the past few days. This is a positive sign as it shows that the bulls are not allowing the price to slip below the 20-day EMA.

BNB/USD daily chart. Source: Tradingview

A breakout and close (UTC time) above $18.1377 is likely to start the next leg of the recovery that can carry the eighth-ranked crypto-asset on CoinMarketCap to $21.50. Therefore, traders can buy on a close (UTC time) above $18.1377.

This bullish view will be negated if the bears sink the BNB/USD pair below the moving averages. Below this support, a drop to $15.80 and then to $13.65 is possible.

EOS/USD

After two days of tepid trading action, EOS is showing promise today. The altcoin has reached the overhead resistance at $2.8319. If the bulls can push the price above this resistance, a rally to $3.1104 is likely.

EOS/USD daily chart. Source: Tradingview

The ninth-ranked cryptocurrency on CoinMarketCap is likely to pick up momentum on a  break above $3.1104. A close (UTC time) above this resistance can offer a buying opportunity to the traders. The target objective to watch out for is $3.8811.

This bullish scenario will be invalidated if the EOS/USD pair turns down from the current levels and breaks below the moving averages. Below this support, a drop to $2.3314 is likely.

ADA/USD

Cardano (ADA) is in a strong uptrend. The altcoin resumed its up move on June 4 after it broke above the immediate resistance of $0.0865169. The next target objective is a rally to the $0.1–$0.10652 overhead resistance zone. 

ADA/USD daily chart. Source: Tradingview

Although the trend is up, the relative strength index is in the overbought zone. This suggests that the 10th-ranked cryptocurrency on CoinMarketCap could correct for one to three days. This dip can offer a buying opportunity to the traders.

On the upside, $0.1–$0.10652 is likely to be a tough hurdle to cross, hence, profits can be booked in this zone.

This bullish momentum will be invalidated if the bears drag the ADA/USD pair to $0.072. Such a sharp pullback will indicate profit-booking by traders.

XTZ/USD

The bulls nudged Tezos (XTZ) above $3.074 on June 4 but they could not hold on to the higher levels. This suggests that bears are aggressively defending this resistance.

XTZ/USD daily chart. Source: Tradingview

If the bears sink the 11th-ranked cryptocurrency on CoinMarketCap below the 20-day EMA ($2.83), a drop to the 50-day SMA ($2.68) is possible. The trend is likely to turn in favor of the bears on a break below $2.24. 

Conversely, if the XTZ/USD pair turns around from the current levels or bounces off the uptrend line, the bulls will make another attempt to carry the price above $3.073–$3.1384 resistance zone. 

If successful, the pair is likely to start its journey towards its target objective of $3.3367 and then $3.80. Traders can trail the stop-loss on the long positions below the 50-day SMA.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin