Cryptocurrencies Price Prediction: Bitcoin, Ripple And Monero – American Wrap – 5/26/2020

Cryptocurrencies Price Prediction: Bitcoin, Ripple And Monero – American Wrap - 5/26/2020

Bitcoin Price Analysis: BTC/USD Capped By 1-hour SMA50 – Confluence Detector
BTC/USD is changing hands at $8,820 as bullish attempts stop short of the … RBI’s recent response to an information request shows that Indian banks are not prohibited from dealing with cryptocurrency business Bitcoin Price Analysis: BTC/USD Capped By 1-hour SMA50 – Confluence DetectorBTC/USD is changing hands at $8,820 as bullish attempts stop short of the local resistance created by the sloping 1-hour SMA50. The bulls forced this barrier during early Asian hours, but failed to hold the ground and retreated Management Innovation eXchange

Bitcoin Price Analysis: BTC/USD Capped By 1-hour SMA50 – Confluence Detector

BTC/USD is changing hands at $8,820 as bullish attempts stop short of the local resistance created by the sloping 1-hour SMA50. The bulls forced this barrier during early Asian hours, but failed to hold the ground and retreated to the previous range. BTC has stayed mostly unchanged both on a day-to-day basis and since the beginning of Tuesday and the market struggles to figure out where to go next.

Ripple XRP Price Analysis: XRP Will Do Well To Stay Above The 38.2% Fibonacci Zone At 0.1819

Ripple has pushed lower on Tuesday and hovers just under the 0.20 psychological resistance zone. It seems if the price continues this current bearish theme it will hit an important resistance zone marked in red on the chart below. The support level was used back on 18th December 2019 and helped the price moved higher after a considerable downtrend. The 0.1819 support also matches up very closely with the 38.2% Fibonacci retracement zone and this is one of the more reliable Fib numbers.

XMR/USD: Monero Got Involved In Another Cryptojacking Scandal

The hacker group Blue Mockingbird installed a hidden miner for the cryptocurrency Monero on at least a thousand corporate servers to install. The hacker group has been active since December 2019.

Photo by Moose Photos from Pexels.

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Source: www.benzinga.com

Author: FXStreet , Benzinga Contributor

 

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RBI Says No Restrictions on Banks Providing Accounts to Crypto Traders

RBI Says No Restrictions on Banks Providing Accounts to Crypto Traders

RBI’s recent response to an information request shows that Indian banks are not prohibited from dealing with cryptocurrency business.

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RBI Says No Restrictions on Banks Providing Accounts to Crypto Traders

India’s central bank, the Reserve Bank of India, seems to finally be clarifying its stance on financial services for cryptocurrency-related businesses. 

In response to a right to information request, the RBI clarified that there are no restrictions on banks preventing them from providing an account to cryptocurrency companies or traders.

The request was initially filed by Harish BV, a cofounder of local cryptocurrency exchange Unocoin.

In 2018, the RBI released a statement restricting all regulated entities including banks from dealing with any organization or individual traders transacting in cryptocurrencies. After the ban, many companies and traders also received warning statements from their respective banks advising them to either stop their cryptocurrency activities or have their accounts suspended.

Things have since improved as in early March, the Supreme Court lifted RBI’s ban on financial entities from dealing with crypto-related customers. 

However, uncertainties still abounded regarding whether banks could support accounts for such customers. Earlier this spring, some banks were reportedly still refusing services to crypto businesses.

Local fintech lawyer Mohammed Danish previously stated that the Supreme Court’s ruling on the ban did not include an order for the RBI to notify banks and request their compliance with the court order.

To clarify traders’ concerns as to why banking portals still prohibited transactions in virtual currencies, Harish BV filed an information request on April 25, asking the financial regulator if it still prohibited any banks from providing bank accounts to cryptocurrency companies or traders,

In response, the RBI wrote, “as on date, no such prohibition exists.”

After RBI imposed the banking ban on cryptocurrencies, most Indian blockchain and cryptocurrency startups registered themselves in countries with crypto-friendly regulations while still operating from India. Some of the most established Indian crypto businesses were either forced to close shop or move to a different country.

Harish BV told Cointelegraph that now that the RBI’s stance is crystal clear, the blockchain and cryptocurrency industry can flourish in India, opening digital assets to 1.35 billion Indians:

“After Supreme Court scrapping RBI’s Ban on crypto and RTI’s reply from RBI, it is clear that there is no need for any blockchain or crypto company to register out of India.”

Source: cointelegraph.com

Author: Mohammad Musharraf


Cryptocurrencies Price Prediction: Bitcoin, Ripple And Monero – American Wrap - 5/26/2020

Cryptocurrencies Price Prediction: Bitcoin, Ripple And Monero – American Wrap – 5/26/2020

Bitcoin Price Analysis: BTC/USD Capped By 1-hour SMA50 – Confluence Detector

BTC/USD is changing hands at $8,820 as bullish attempts stop short of the local resistance created by the sloping 1-hour SMA50. The bulls forced this barrier during early Asian hours, but failed to hold the ground and retreated to the previous range. BTC has stayed mostly unchanged both on a day-to-day basis and since the beginning of Tuesday and the market struggles to figure out where to go next.

Ripple XRP Price Analysis: XRP Will Do Well To Stay Above The 38.2% Fibonacci Zone At 0.1819

Ripple has pushed lower on Tuesday and hovers just under the 0.20 psychological resistance zone. It seems if the price continues this current bearish theme it will hit an important resistance zone marked in red on the chart below. The support level was used back on 18th December 2019 and helped the price moved higher after a considerable downtrend. The 0.1819 support also matches up very closely with the 38.2% Fibonacci retracement zone and this is one of the more reliable Fib numbers.

XMR/USD: Monero Got Involved In Another Cryptojacking Scandal

The hacker group Blue Mockingbird installed a hidden miner for the cryptocurrency Monero on at least a thousand corporate servers to install. The hacker group has been active since December 2019.

According to cybersecurity experts from Red Canary, hackers exploited the vulnerability CVE-2019-18935 of Telerik framework on public-facing servers running ASP.NET apps.
They also used the Juicy Potato technique to gain full access to the web-server and install an XMRRig, a popular mining app for the Monero (XMR).

Photo by Moose Photos from Pexels.

See more from Benzinga

  • Bitcoin, Ethereum Classic & Ripple – American Wrap

  • Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Ripple – American Wrap: 5/19/2020

  • Bitcoin, Ethereum & Ripple – American Wrap: 5/18/2020

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Source: sports.yahoo.com

Author: FXStreet News


Everything You Should Know Before Investing in Cryptocurrency

Everything You Should Know Before Investing in Cryptocurrency

Summary 

The demand for cryptocurrency continues to rise. According to research, millennials and younger investors are becoming more skeptical of traditional financial service providers and banks, especially after the 2008 financial crisis. Several studies have indicated that most millennials and younger investors intend to invest in cryptocurrency in the future. Fortunately, now investing in digital assets is much easier than in the past, especially not like before 2017. It is an assurance to new investors that it is a good move for them financially. However, there are still a few things to consider before investing in cryptocurrency. Here we take a look at everything you need to know before purchase cryptocurrency and start trading.

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Since the introduction of cryptos, bitcoin has held the highest value. It was also the first digital currency, so it’s easy to see why it’s a popular choice among many online traders. However, there are many options with other reliable cryptos such as Ehereum, ripple, dash, IOTA, and Bitcoin cash sprouting up. These cryptocurrencies, although not as valuable or popular like bitcoin, offer nearly the same investment opportunities. Each cryptocurrency has its advantages and disadvantages, and a thorough investor would be wise to consider all options.

Investing in cryptocurrency is all about speculation. You are taking a chance, and if things work in your favor, you stand to make a substantial amount of money. However, the majority of crypto assets tend to fail and become worthless; hence it’s advisable for investors only to invest what they can afford to lose. There are stories of people racking up millions of dollars, but you don’t know there are those that lose just as much. If you invest in an inconvenient time, you could incur rapid and extreme losses. For a new investor, the ‘get rich quick’ notion can be quite enticing, but it’s worth noting that this market can be unpredictable and volatile. There’s a massive possibility for extreme losses if you are not careful.

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Cryptocurrencies are commonly associated with getting rich quick with 1000% gains. While that might have been the case at some point and could still happen again, your investment strategy should never be based on this. It’s good to be realistic, and the best way to do that you should keep in mind that one, you should diversify. Two, stick to blue-chip stocks. Three, consider some gains off the table when possible and four, note that ICOs are the new penny stocks.

Most people associate cryptocurrency with funding illegal transactions, but that’s not always the case. Some legal businesses accept crypto transactions since they offer not only speedy but also a low-cost transfer of money. That has made them quite popular for international money transfers. What’s more, they are free from authorities hence can’t be frozen. Investors can also participate in speculation of which cryptocurrency is likely to succeed and which one would fail.

Investing in cryptocurrency is not as straightforward as most people would think. A crypto broker or an online broker should help make a sound investment decision. However, as an investor, you still need to have a plan before you start trading as well as be responsible for doing your research.

Source: www.managementexchange.com

Author: By Ronni Aden Ronni Aden


Cryptocurrencies Price Prediction: Bitcoin, Ripple And Monero – American Wrap - 5/26/2020

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