On April 25 digital assets are seeing volatile price declines today across cryptocurrency markets worldwide. Over the past 24-hours, the entire cryptocurrency market capitalization has lost more than $30Bn since our last markets update. bitcoin Core (BTC) market prices are averaging $8,920 right now after tumbling to the $8,700 territories earlier today. bitcoin (BCH) market values have also dropped from their $1,550 high and currently hover around the $1,270 zone.
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Bears Claw BTC Prices Below the $9K Zone
Bears have managed to claw digital asset markets as many are nurturing fresh losses today. BTC/USD prices are seeing a 24-hour decline of around 4.19 percent as prices have dipped below the $9K zone. Trade volume for BTC markets is still very steady and there’s a lot of action taking place with $11.9Bn traded over the past 24-hours. The top five exchanges swapping the most BTC include Binance, Bitfinex, Okex, Huobi, and Bitflyer. Meanwhile, the Japanese yen captures 49 percent of today’s BTC trades. This is followed by the USD (26%), tether (USDT, 14%), the euro (4%), and the South Korean won (3.3%). The euro has jumped above the won’s metrics as the currency takes the fifth global position today.
BTC/USD Technical Indicators
Charts show that BTC bulls hit some severe resistance after briefly touching $9,755 during yesterday’s trading sessions. Although there’s been a dip in the two Simple Moving Averages (SMA) on the 4-hour show, the 100 SMA is still above the longer-term 200 SMA. This indicates the downturn may be short-lived and the path to resistance will be headed towards the upside. MACd is dipping southbound while the Relative Strength (RSI) Levels have followed suit showing oversold conditions. Order books on the BTC/USD side indicate bulls need to break resistance again above the $9,200 region to get some better stride. There will also be another pitstop around the $9,700 range again, if they can make it that far. On the back side, there are strong buy walls between the current vantage point and $8,200.
BTC/USD prices hover around $8,920.
bitcoin Cash Markets Daily Gains Drop 13% But Still Gained 49% Over the Past Week
The bear market action has also affected BCH markets over the past 24 hours, as well. At the moment, BCH markets are down today 13.6 percent but are still up 49 percent over the past seven days. bitcoin cash volume is still pretty good with close to $2Bn in daily trade volumes. The top five exchanges trading the most bitcoin cash today include Okex, Bitfinex, Huobi, Upbit, and GDAX. The top currency swapped with BCH today is BTC by 33.1 percent. This is followed by the USD (30%), tether (USDT, 20%), the South Korean won (10.5%), and the euro (2%). Ethereum pairs with BCH account for 1.2 percent of today’s trading action.
BCH/USD Technical Indicators
BCH/USD charts show that bitcoin cash bulls also hit hard resistance but hours before BTC did. Both BCH and BTC markets have been showing some uncorrelated activities between both markets. Still, just like BTC charts, the 4-hour BCH/USD SMAs have a nice gap between the 100 and 200 SMA trendlines. This indicates the path to resistance should also continue towards the upside, unless BCH bulls get too exhausted. MACd and RSI levels are also heading southbound showing market look oversold and will likely see some improvements. Order books show BCH bulls have some tough resistance to get past the $1,300 region all the way to the $1,375 territory. On the backside, if bears manage to keep relentlessly clawing back, the price foundations between $1,250 and $1,150 are solid.
BCH/USD prices hover around $1,270.
The Verdict: Optimism Still Remains
The bear market could very well be a ‘bear trap’ where investors are lured into selling at lower prices because they panic. Most traders across social forums on Telegram and Reddit are optimistic about the past two weeks of bullish upswings. So far, sentiment remains positive even during the past 24-hour downturn. Some coins are still up, well over 40-50 percent, looking at the past thirty days, and the quick dip was to be expected.
Where do you see the price of BCH, BTC, and other digital assets headed from here? Let us know in the comments below.
Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither .com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
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This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. bitcoin.com does not endorse nor support this product/service. bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
Aramco Ltd. is a private company based out of the United Kingdom and Saudi Arabia. Aramco Coin has created the ARM token in order to allow people to invest in a cryptocurrency that has some intrinsic value and also to allow people to easily trade on the live price of Brent crude oil.
Aramcocoin.io is a digitized interest in equivalent reserve barrels of crude oil and is free from the external risk of governmental intervention affecting the valuation of fiat currencies or the extreme volatility faced by digital currencies due to rapidly changing supply and demand dynamics. Aramcocoin.io offers all of the advantages historically associated with blockchain enabled digital currencies while providing a fully verifiable and audited asset reserve to ensure its value, stability and security as a leading medium of exchange.
Aramco Coin originated from the idea of having a strong currency that has a backing on raw materials. The coin allows companies and individuals to make use of the transparent exchange of digital currency with essential value that arises from oil.
Every Aramco coin stands for the worth of a single barrel of crude oil. It will be supported by a stern interest in a bundle of oil assets like Oil Future and Physical Oil plus every interest in all properties used for producing oil. The total value got after adding all interests represents the approximate value of every Aramco coins that are in circulation.
ARM as an Investment :
One of the key features of using ARM as an investment is the fact that each token is backed by a real barrel of oil. This, as is with other commodity backed cryptocurrencies, means that there is always a base minimum value to the digital asset. An ARM token can never be worth less than the value of the barrel of oil that it represents. According to Aramco Coin, this makes the coin a less volatile investment than free-floating digital currencies and, therefore, a more secure asset.
Along with the proposed security of the investment, owning and holding ARM tokens has residual benefits. Aramco is guaranteeing that the price of ARM will increase by at least $0.01 USD every single day for life. That kind of return isn’t life changing money, but it is, at the very least, financial movement in the right direction.
Trading with ARM :
While holding ARM tokens as an investment is certainly one of the encouraged uses of the Aramco Coin offering, Aramco Coin seems to be more heavily invested in the idea that people will be using the coin to trade on the price of oil. In fact, we have developed a slick online trading platform that will allow ARM owners to trade against the live price of Brent crude on the London Stock Exchange. Traders will pay fees just as all traders do in all markets, but Aramco is putting incentives in place to ease the burden of speculators. These incentives are offered on a sliding scale and allow investors to receive between a 50% and a 90% discount on their fees.
Aramco (ARM) Initial Coin Offering Details :
The Initial Coin Offering (ICO) for the ARM digital coin will begin with 3 stages 1)Pre-sale on April 24th, 2018. The pre-sale will run until May 8th, 2018. The incentive for investors during this time is a 15% bonus on all purchases. 2)Stage-1 sale on May 9th 2018. The Stage-1 sale will run until May 23th 2018. The incentive for investors during this time is a 10% bonus on all purchases. 3)Stage-2 sale on May 24th 2018. The Stage-2 sale will run until June 7th 2018. The incentive for investors during this time is a 5% bonus on all purchases. As ARM is an Ethereum based digital currency, it can be purchased using ETH , BTC and subsequently traded on the Aramco digital trading platform.
If you would like to get a complete picture of the ARM token and the plans that Aramco has made for the digital trading platform, you can read the ARM white paper or onepager at our website :
Contact Email Address
support@aramcocoin.io
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This is a paid 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.
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The bitcoin exchange industry is widely considered to be in a process of transition, with big players stepping in and acquisitions leading to greater consolidation. As such it is not surprising to hear that Bitstamp is on the shelf, although a rumored buyer now denies it.
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Nexon Korea Denial
Lee Jung-hun, the CEO of Nexon Korea, has denied reports that the company is engaged in negotiations to acquire the cryptocurrency exchange Bitstamp. Speaking at a press conference on Wednesday at the company’s headquarters in Pangyo, South Korea he reportedly : “Nexon Korea does not have anything to do with a Bitstamp acquisition.” The CEO added that: “We do not have any plans to link cryptocurrencies with our game business.”
Nexon is an online gaming giant established in Seoul back in 1994, which moved its headquarters to Japan in 2005 and went public on the Tokyo Stock Exchange in 2011 (TYO: 3659), and now employs close to 6000 people. Its parent company, NXC Corp., has acquired a controlling stake in one of Korea’s largest cryptocurrency exchanges, Korbit, back in September 2017. Considering this, it is technically possible that NXT is in talks to buy a part of Bitstamp too, and that Nexon Korea is just not involved, but the CEO gave no indication that that is the case.
Bitstamp Acquisition Rumors
Founded in 2011 as a European-focused bitcoin exchange, Bitstamp is considered to be the longest surviving cryptocurrency exchange to date. The rumors about its acquisition by Nexon Korea appear to have started with a report by that Bitstamp is up for sale and that the South Korean gaming company is in pole position to acquire it. The price according to the report is said to be about $350 million, citing two people familiar with the deal.
If Bitstamp will indeed by acquired by a Korean group that will not be very surprising. The cryptocurrency exchange business has seen a lot of rapid changes recently, especially in the Far East where established internet conglomerates see an urgent need to enter the space before they miss the boat as regulators are stepping in and making it harder on smaller companies to get licensed. Most recently Coincheck exchange has decided to sell the company to one of the largest online securities trading companies in the Japan, .
Do you believe the CEO of Nexon Korea that nothing is going on with Bitstamp? Share your thoughts in the comments section below.
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Blockchain is the technology underpinning cryptocurrencies such as bitcoin. It is a method of recording data in the form of a digital ledger of agreements, transactions and contracts. This ledger is stored over thousands of computers worldwide. Due to the nature of the information stored within a blockchain database it is very secure and hard to hack, as access would be required to every single source of the data at the same time.
The value that can be provided by cryptocurrency in addition to the realms of trading is becoming more and more evident, in particular in the gaming industry. The first and most obvious way is to use blockchain enabled cryptocurrency to enable in-game purchases, reward player achievements and to buy alternative games online. Game commerce can be turned into real commerce through blockchain. Blockchain allows players to interact with other players directly within the game without having to go through the developers or software as an intermediary, and a credit card is not needed to make transactions.
It is this security and efficiency, with no need for third party intermediaries which has others in the gaming industry taking serious notice of cryptocurrencies. As a result, there is a growing number of online casino brands adding this banking option to their services. Furthermore, with more and more players preferring cryptocurrencies, there is no doubt that increasing numbers of will have to adopt the method.
The use of blockchain in gaming is not just limited to in game purchases though. It can be used for other elements in the gaming world, such as providing a data structure with which to store gameplay and remember the moves made by a player within a game as well as document high scores automatically. The distributed ledger blockchain uses means that gamers can play throughout interlinked gaming environments with the same characters, using the same items they have acquired.
Those serious about gaming will probably accumulate many in-game rewards, but traditionally they will always disappear once the game is logged out of and are only useful within a single game or only help for advancement to the top of the game. Blockchain means the players can retain their rewards and use them either in the game, keep hold of them, or even possibly transform them into cryptocurrency. This is how it will continue to become possible to make a living from gaming and ultimately be a stepping stone from a hobby to a very lucrative career for many.
Blockchain isn’t only beneficial to the gamers and can be taken advantage of by the developers to help them improve the experience for players. It represents the opportunity for developers to really innovate with their game design. Developers can use the data provided by the ledgers within blockchain to discover the preferences in gameplay of their users and then use this information to provide a more tailored experience to gamers. The results of using blockchain in this way could be fantastic and character development could end up as ongoing throughout multiple games. Creating games that work in this way in a series could mean that developers connect the worlds using data stored within characters or items for example.
Developers can reward winners of gaming tournaments and competitions with cryptocurrency to send within the game or even offline. This is all possible due to the presence of blockchain within gaming.
