Bitcoin Cash (BCH) Spikes 7.5% to 7-Day High but Concerns Remain

At 1130 GMT, the BCH/USD pair was trading at $129.83 according to aggregated data provided by CoinGecko.com. The total market cap, at the same time, was close to $2.282 billion, Bitcoin Cash’s best since January 15, 2019, while its 24-hour adjusted volume was above $256.244 million.In comparison, other top cryptocurrencies underperformed. While Bitcoin’s valued surged by a modest 2%, XRP and Ethereum also jumped 1.6% and 2.2% on a 24-hour adjusted timeframe. Only EOS and Tron came closer to Bitcoin Cash concerning substantial gains. Both the blockchain assets appreciated more than 5% against the dollar.As visible in the Coinbase chart above, the Bitcoin Cash surge took place merely around its current support area near $119.64. Similarly, an active resistance area to the upside capped the rally from maturing further – as it did in four different occasions since January 17. It explains that Bitcoin Cash – at best – must be consolidating within a strict trading channel while awaiting breakout.
“MACD and RSI rising, Buy Signal from the UCTS at the 6h chart,” wrote Nico. “EMA50-100 & 200 between here and potential target at 0.04sats so pay attention for any pullback in the road.”

Ripple partner SBI Holdings’ cryptocurrency exchange, VC Trade launch date announced

SBI’s CEO, Mr. Yoshitaka Kitao announced this news at the third quarter results briefing for the fiscal year ending March 31, 2019. The exchange, which was launched in July 2018 had previously restricted the withdrawals of cryptocurrencies and had limited the users to use hardware wallet that the company refers to as “designated wallet”.According to its website, SBI Holdings had previously announced that it had paid-in capital of 92 billion yen [$828 million] and over six thousand consolidated employees. According to an interim results announcement, the six months ended Sep. 30 of this year the company registered over 176 million yen in revenue [$1.584 million].With its recent partnerships with R3, Ripple and other prominent companies in the cryptocurrency ecosystem SBI Holdings Co. Ltd. is on a race to become a global leader in the payments and cryptocurrency space.SBI Holdings had previously announced that it had made a secondary investment in the cryptocurrency exchange LastRoots.


Bitcoin, Ripple, Ethereum, Bitcoin Cash, EOS, Stellar, Litecoin, Tron, Bitcoin SV, Cardano

After the two years of price-centric action in the cryptocurrency industry, 2019 might shift the focus towards the fundamentals. Until the community puts an emphasis on the foundational aspects of crypto, we believe that a sustained recovery is unlikely.The Winklevoss twins believe that stablecoins and tokenized securities will give a boost to the crypto space. Remaining positive on Bitcoin (BTC), they continue to hold the view that it is a better investment than gold.Vontobel bank, Switzerland’s third largest financial custody provider, has launched a digital custody product for institutional players. Large players like Vontobel don’t get into a space without studying it extensively. That leads us to believe that it is only a matter of time until institutional money starts trickling into the market.




Bitcoin is becoming a currency?

Bitcoin was not truly a currency, even though it had most properties of currency, because it could not be used to pay taxes. Ohio’s state government is now accepting Bitcoin and Bitcoin Cash via its payment portal, serviced by BitPay. it’s hard to argue that the ecosystem is fully matured enough. While Bitcoiners in Ohio now have a convenient way to turn over precious coinage to BitPay, who’ll convert it to dollars for the state. The move does demonstrate the essential payments superiority of cryptocurrency: fees are much smaller here. Anyone who’s dealt with state governments knows they don’t like to pay processing fees, and often enough there’s a $2-3 charge, sometimes more.

The Bitcoin cash War

As described in an earlier,  Bitcoin ABC (BCH ABC, where ABC stands for Adjustable Blocksize Cap) is spearheaded by the likes of Roger Ver, renowned BCH advocate, and Jihan Wu, co-founder of BItmain, an extremely powerful mining outfit. It was founded back in July 2017 as part of the original BCH blockchain, but morphed into an independent entity as the conflict escalated and the split became inevitable. BCH ABC proponents stand for the idea that the basic structure of BCH “does not need any radical change.” Still, Bitcoin ABC’s roadmap suggests further development of the network, mainly via increasing Bitcoin Cash’s blocksize (hence the name) and minimizing transactions costs.

 

Ethereum stablecoin will migrate to Bitcoin cash

Hello Diamonds has been serving the diamond industry for a few years with software solutions. This is their first move into blockchain. Their founders, based in Cyprus, had previously created a company called Hello Football, which helps use real-time fan data to place a value on soccer players.“With the help of computational linguistics and in-house algorithms, we are able to process and understand any set of data including natural language resources found online. We at Hello Football strongly believe that the football industry as a whole is ripe for a revolution. As price discovery specialists, we are introducing a new way of perfecting the real-time valuation of football players.”