Tuesday, October 31, 2017

CryptoCurrency News: Understanding Segwit2x: Why Bitcoin's Next Fork Might Not Mean Free Money

CoinDesk offers a high-level overview of the coming Segwit2x fork, how it differs from the hard forks before it and what it might mean for bitcoin.

via CoinDesk

CryptoCurrency News: Privacy and Scalability? ZoKrates Devcon Announcement Brings Both to Ethereum

Released today, ZoKrates could be the privacy toolkit ethereum developers have been waiting for.

via CoinDesk

Trade Recommendation: BUY Signal for LTCUSD

The price bounced from the uptrend line and moved above the cloud. The new high is a good level for placing buy orders. If the market moves above 59.00 level, we’ll have a confirmation of further price movement. DMI shows that bulls become stronger and we can expect new highs. Entry is 59.00 level with stop orders below the local swing low at 53.50 level. Profit targets are 70.00 and 80.00 levels. If you don’t use leverage, recommended trading volume for this trade is up to 10% from your deposit.

Market: LTCUSD
Buy: 59.00
Stop: 53.00
Profit Targets: 70.00 and 80.00

CryptoCurrency News: London Stock Exchange Exec: Fiat Cash Impeding Blockchain Trials

An official from the London Stock Exchange spoke Tuesday about issues facing bank blockchain innovation, citing traditional currencies as a key roadblock.

via CoinDesk

CryptoCurrency News: SEC Alleges Day Trader Used Bitcoin Hide Fraud Profits

The SEC is suing a Philadelphia day trader for alleged fraud, claiming the individual used bitcoin to hide the profits they generated.

via CoinDesk

[FOREX NEWS] Fed: 4 reasons to cement the hike, one reason to send the dollar down

The Fed meeting in November was never expected to provide ground-breaking news. The FOMC does not make statements without an accompanying press conference and the dot plot, even though they insist that every meeting is a live one. However, this meeting could cement the decision to raise rates. In the unlikely event that they do [...]

The post Fed: 4 reasons to cement the hike, one reason to send the dollar down appeared first on Forex Crunch.

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CryptoCurrency News: Survey: Younger Americans More Interested in Cryptocurrencies, ICOs

A new survey released today found that 31.6 percent of Americans have heard of ethereum, while only 22.1 percent have have heard of ripple.

via CoinDesk

CryptoCurrency News: Swarm Closes $5.5 Million ICO for Alternative Investment Fund

Another experiment in blockchain powered governance went underway nearly as soon as its token sale ended.

via CoinDesk

[FOREX NEWS] GBP/USD: ‘Gotta Have Faith’ To Go Long Sterling On ‘Carney Put’ – ING

The pound is facing a rate hike for the first time since the crisis. And the big question is: what’s next? Here is the view from ING: Here is their view, courtesy of eFXnews: ING FX Strategy Research discusses GBP/USD outlook ahead of the BoE November policy meeting on Thursday. “BoE officials will need to [...]

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CryptoCurrency News: Vertcoin Clocks Record High Ahead of Reward Reduction

The lesser-known cryptocurrency vertcoin is trading at a record high – and upcoming changes to its underlying economics may hint at why.

via CoinDesk

CryptoCurrency News: Vietnam's Central Bank Announces Ban on Bitcoin Payments

The State Bank of Vietnam has issued a statement banning the use of bitcoin and other cryptocurrencies in payments from Jan. 1, 2018.

via CoinDesk

CryptoCurrency News: Bitcoin's Price Climbs Above $6,300 Again to Hit All-Time High

The price of bitcoin has hit a new all time high, crossing the $6,300 mark for the second time this week.

via CoinDesk

[FOREX NEWS] US CB Consumer Confidence beats with 125.9 – USD ticks higher

More good news from the US: consumers were more confident in October according to the CB Consumer Confidence: a score of 125.9 points. September’s score was revised up to 120.6. The US dollar is slightly higher, but the moves are not huge. There are bigger events this week. The Conference Board’s consumer confidence measure for October [...]

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CryptoCurrency News: CME Group Plans Launch of Bitcoin Futures Contract

Derivatives marketplace operator CME Group has announced plans to launch a bitcoin futures product.

via CoinDesk

CryptoCurrency News: Last Laugh? Dilbert Creator Scott Adams Talks Plans for Token Launch

Now we know why Dilbert comics have been poking fun at blockchain mania – creator Scott Adams has been right in the middle of it.

via CoinDesk

CryptoCurrency News: Bitcoin Cash Rally Stalls as Traders Price in Possible Fork

The price of the bitcoin cash cryptocurrency is responding to news of a coming techncial shift – and the initial results don't seem positive.

via CoinDesk

[FOREX NEWS] Canadian GDP falls 0.1% – CAD follows

A disappointing read from Canada: the economy shrank in August by 0.1%. In addition, producer prices are down 0.3% against +0.4% predicted. USD/CAD jumps above 1.29 from 1.2840 ahead of the publication. The Canadian dollar remains under intense pressure. More: USD/CAD: 4 Reasons To Sell The Loonie –  CIBC Canada was expected to report a minor [...]

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CryptoCurrency News: Not a Consortium: Banks Form For-Profit Entity for Blockchain Supply Chain

A group of banks is charting forward a new course for how to design a blockchain venture – and this time it's seeking for-profit benefits.

via CoinDesk

CryptoCurrency News: US Government Research Lab Eyes Blockchain in Energy Data Tests

A research lab within the U.S. Department of Energy has revealed it is exploring the application of blockchain in next-generation power grids.

via CoinDesk

CryptoCurrency News: IC3 Blockchain Initiative Expands Research Team to Europe

The IC3 cryptocurrency and blockchain research project has expanded, adding researchers from several European universities to its ranks.

via CoinDesk

[FOREX NEWS] Euro zone GDP beats with 0.6%, but inflation slips to 1.4%

Mixed data from the euro-zone: strong growth but weak inflation, similar to other regions in the world. GDP is up 0.6% in Q3 2017, better than 0.5% expected and on top of an upward revision for Q2: 0.7%. The unemployment rate is down to 8.9%, also beyond expectations. However, inflation came out below expectations: 1.4% [...]

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CryptoCurrency News: R3 Unveils Cross-Border Payments Platform Built on Corda DLT Tech

R3 and 22 of its member banks have announced a cross-border payments platform built on top of the company's Corda distributed ledger.

via CoinDesk

[FOREX NEWS] EUR/USD not spooked amid French GDP, Catalan news

EUR/USD is trading around 1.1640 after bouncing off the lows of 1.1575. The pair has licked its wounds related to the Draghi’s open door for further bond buying beyond September 2018. It is not spooked by Halloween. Support awaits at the 2016 high of 1.1620 and resistance is at 1.1670. Further resistance is only at [...]

The post EUR/USD not spooked amid French GDP, Catalan news appeared first on Forex Crunch.

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CryptoCurrency News: Bitcoin Cash Developers Set Date for November Hard Fork

The developers behind bitcoin cash are aiming to change the blockchain's rules in a software update set for November.

via CoinDesk

Monday, October 30, 2017

Vietnam bans Bitcoin

The State Bank of Vietnam has ruled that cryptocurrency, including Bitcoin, is not a legal method of payment.

Last week, the central financial authority issued a statement (translated) which decrees that cryptocurrency is now considered an illegal non-cash payment method.

The government will no longer allow payments to be made in cryptocurrency, and the issue, supply, or use of Bitcoin -- or other digital currency types -- is prohibited.

If law enforcement catch payments being made or accepted in cryptocurrency, the parties involved can be subjected to a fine of between VND 150 million and 200 million, or roughly $6000 -- $9000.
"As of January 1, 2018, the act of issuing, using, or using illegal means of payment (including Bitcoin and other similar virtual currency) may be subject to prosecution," the notice reads.

The changes are based on orders from Vietnamese Prime Minister Nguyen Xuan Phuc, issued earlier this year, to develop a legal framework to control cryptocurrency.

There is no reason given for the ban in the notice, but it is potentially due to a clash between traditional financial banking structures and modern, alternative offerings based on the blockchain and cryptocurrency.

Vietnam appears to be emulating China's clampdown on virtual currency, of which the country banned cryptocurrency Initial Coin Offerings (ICOs) in September for "disrupting financial order."

The move also appears to be similar to activity in Indonesia. Earlier this month, Bank Indonesia (BI) Governor Agus Martowardojo said that Bitcoin is not a valid form of payment in the country and users of the cryptocurrency "would be dealt with."

However, not every financial institution reflects this attitude. In August, Swiss private banking group Falcon Private Bank said they are creating a framework for consumers to trade Ether (ETH), Litecoin (LTC), Bitcoin (BTC), and Bitcoin Cash (BCH).

While China is attempting to smother cryptocurrency exchanges and new services, Vietnam has not gone quite as far -- yet.

The bank's ruling does leave mining and the use of blockchain technologies alone, and so traders in the area can still operate as long as they do not use their proceeds to buy or sell products. It appears that should virtual currency be converted into traditional currency first, this may be acceptable.

CryptoCurrency News: Devcon3 Preview: 6 Talks to Watch At Ethereum's Developer Summit

Can't make it to ethereum's annual Devcon summit? Catch the livestream and tune in for CoinDesk six talks to watch.

via CoinDesk

CryptoCurrency News: Meet Earn.com: 21 Rebrands Social Network In Shift Away from Bitcoin

21 Inc, once a maker of bitcoin mining hardware, is rebranding to emphasize its recent focus on using digital currency to power a social network.

via CoinDesk

CryptoCurrency News: EU Government Pegs Blockchain as Beneficiary of €30 Billion Research Fund

The European Commission has announced €30 billion on new investments in technology initiatives including those involving blockchain.

via CoinDesk

CryptoCurrency News: Australian Central Bank: Regulating Blockchain Protocols 'Unlikely to Be Effective'

Cryptocurrencies don't pose "any pressing regulatory issues" for the Australian central bank's policies for payments.

via CoinDesk

CryptoCurrency News: More Blockchain Pilot Needed, Says US Treasury Official

An official involved with the US Treasury's distributed ledger trial wants to see more government testing around the tech.

via CoinDesk

[FOREX NEWS] Bank of Canada holds fire. Odds for December rate hike fall

Summary: BoC holds interest rates steady at 1.0% as widely expected Central bank flags uncertainties that include inflation and NAFTA Odds for a December rate hike falls below 50% following the BoC decision from 80% previously BoC cites exchange rate appreciation could weigh on exports BoC forecasts weaker pace of growth. Q4 GDP expected at [...]

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CryptoCurrency News: Arkansas Sheriff's Office Mines Bitcoin to Fuel Dark Web Investigations

A sheriff's office based in Arkansas is taking a novel approach to its investigations into online crime: mining bitcoin.

via CoinDesk

CryptoCurrency News: Boston Fed VP: DLT Could 'Fundamentally Change' Financial Industry

Jim Cunha, senior VP of the Federal Reserve Bank of Boston, has said distributed ledger technology could "fundamentally change" financial services.

via CoinDesk

CryptoCurrency News: The Last Hurdle: Liquidity Alliance Closes in on Distributed Ledger Launch

A group of central securities depositories are ready to launch a blockchain, but there's still one thing they need: a regulatory green light.

via CoinDesk

[FOREX NEWS] Fed’s favorite inflation measure stuck at 1.3% – will it matter?

The Core PCE Price Index remains at 1.3% as expected. It remains within a significant distance of the 2% target. Inflation remains weak while employment looks good. This has been the same story for quite some time. Will it matter? Janet Yellen and her colleagues are set to raise rates in December, no matter what. [...]

The post Fed’s favorite inflation measure stuck at 1.3% – will it matter? appeared first on Forex Crunch.

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[FOREX NEWS] Trump’s exp-campaign manager Manafort asked to surrender

Special Counsel Robert Mueller has asked Paul Manafort, Trump’s ex-campaign manager, to surrender. he will be charged alongside Rick Gates, which was a business associate. Mueller is investigating the influence of Russia on the 2016 elections. Manafort had reportedly had ties to Russia and other countries in the region. His house was raided by Mueller’s [...]

The post Trump’s exp-campaign manager Manafort asked to surrender appeared first on Forex Crunch.

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CryptoCurrency News: Making Noise: Bitcoin Price Could Push Higher as Global Volumes Grow

Bitcoin's rally is showing no signs of abating after prices surged to record levels over the weekend.

via CoinDesk

[FOREX NEWS] EUR/USD recovers on dollar weakness, some Catalan calm

EUR/USD is already trading some 60 pips off the lows. The world’s most popular currency pair enjoys a trade balance surplus which makes it naturally bid. But that’s not the only reason. There is growing speculation that the next Chair of the Federal Reserve will be Jerome Powell. Powell is one of the few governors [...]

The post EUR/USD recovers on dollar weakness, some Catalan calm appeared first on Forex Crunch.

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CryptoCurrency News: Japanese Financial Watchdog Issues Warning over ICO Risks

Japan's Financial Services Agency has issued a statement warning investors of the risks associated with initial coin offerings or ICOs.

via CoinDesk

CryptoCurrency News: Russian Bank VEB Turns to Blockchain for E-Procurement Project

Russia's government-owned development bank, VEB, and e-procurement resource platform Roseltorg are teaming up on a new blockchain project.

via CoinDesk

CryptoCurrency News: Proving Ground? Ethereum Gears Up for Show of Force at Devcon Event

With hurdles still to overcome, ethereum is out to prove itself at its annual developer event which kicks off next Wednesday.

via CoinDesk

CryptoCurrency News: Sony Seeks Blockchain Patent for User Authentication System

Electronics giant Sony has proposed a two-part blockchain-based multi-factor authentication system in a new patent application.

via CoinDesk

Sunday, October 29, 2017

CryptoCurrency News: BTC to DLT: Why Aren't Banks Giving Blockchain Startups Accounts?

A recent report by the FCA recognized that cryptocurrency startups have a hard time getting bank accounts. CoinDesk's Noelle Acheson looks at why.

via CoinDesk

CryptoCurrency News: Politician Ron Paul: US Government Should 'Stay Out' of Bitcoin

Former U.S. Congressman Ron Paul said this week that he supports cryptocurrencies and blockchain technology.

via CoinDesk

$6,300 BTCUSD : Bitcoin Price Sets New ATH

The Bitcoin Price Index set a new record on Sunday, rising nearly $500 to top $6,300 for the first time in history.

Just over a week after pushing past the $6,000-mark for the first time, the world's first cryptocurrency rose to a high of $6,306.58 on the CoinDesk Bitcoin Price Index at 20:30 UTC today. The previous all-time high of $6,183 was set on October 21st and held for just eight days.

In setting the new high, the price of bitcoin is now up more than 500 percent on the year, having climbed from just below $1,000 on January 1st to the new high.

However, at press time, it remains unclear just how much appetite there is to extend bitcoin prices above this mark at the moment. Hours after the milestone, prices are down somewhat, trading at an average of $6,166 across a selection of global exchanges.

Still, analysts have remarked that the increase comes at a time when bitcoin has never been more visible in the public eye, with business leaders and investment luminaries now discussing bitcoin on an almost daily basis.

Among those who have recently weighed in on its value include billionaire investor Warren Buffett, Saudi Prince Al-Waleed bin Talal and PayPal co-founder Peter Thiel.

Data from Google Trends indicates searches for "bitcoin" and "bitcoin price" are also nearing all-time highs, suggesting this exposure is perhaps translating into new awareness and investment in the protocol, now valued at more than $100 billion, according to data from CoinMarketCap.

"We're seeing confidence in bitcoin growing steadily," cryptocurrency derivatives exchange trader Joseph Lee told CoinDesk. "It's great for adoption."

[FOREX NEWS] Is EUR/USD set to fall towards 1.15?

EUR/USD suffered a relatively dovish Draghi as well as speculation about a hawkish head of the Fed. Does the pair have more room to fall? Here are two opinions: Here is their view, courtesy of eFXnews: EUR/USD: Looking To Set Strategic Longs Near 1.15 On A Deeper Correction – SocGen Societe Generale Cross Asset Strategy [...]

The post Is EUR/USD set to fall towards 1.15? appeared first on Forex Crunch.

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CryptoCurrency News: The Basics on FACTS: A New Model for Compliant ICOs

Must ICOs choose between a non-compliant utility token or a complaint security token that doesn’t work in commerce? Jaron Lukasiewicz proposes a fix.

via CoinDesk

CryptoCurrency News: Worse Than Tulips? Enduring Misconceptions About Crypto Assets

The authors of a new book explain what mainstream financial pundits still don't grasp about this space – even if the markets are starting to get it.

via CoinDesk

Saturday, October 28, 2017

[FOREX TIP] Monthly Forex News Events that Might Affect EURUSD Volatility – Nov 2017

Monthly Forex News Events that Might Affect EURUSD Volatility – Nov  2017

The EURUSD rally has finally seen a pullback as the big psychological number 1.2000 has proven to provide a good catalyst for the bullish trend to take a pause. The main driver behind the EURUSD pullback was the grown speculations that the Fed might proceed forward and hike rates one more time until the 2017 end. The market has been speculating that the ECB will announce this autumn the tapering process of the 2.3 trillion euro bond buying program, but the ECB rhetoric has failed to gain traction behind this market theme.

The market focus is now shifting to a new month – November which can provide us with plenty of fundamental drivers that can impact the market volatility and the EURUSD exchange rate. The November economic calendar has scheduled plenty risk events that can be the catalyst for some volatility. Both the ECB and the Fed have important interest rates and monetary policy announcements. The Fed has one of the last chances to signal its willingness to hike one more time until the end of the year.

The Fed funds rate is only projecting rates to hike in December but we can still see the dollar getting traction in anticipation of higher interest rates. The November seasonal pattern sees the EURUSD exchange rate slowly drifting lower and its possible the current retracement to have more legs to the downside if the fundamentals support the bearish case.

The seasonal pattern only gives us the tendency of a particular currency to exhibit a certain behavior at a certain time, so we have to carefully monitor the pattern and how the fundamental forces interact with the price action. Going forward, we’re going to analyze and disseminate the major news event for the upcoming month that can be the catalyst for higher EURUSD volatility.

“Don’t risk significant money in front of key reports, since that is gambling not trading.” Paul Tudor Jones

Monthly Forex News Events that Might Affect EURUSD Volatility – Nov  2017

The Catalan independence issue has failed so far to provide us with a market theme that can drive the currency exchange rate in a significant manner. Spain is already facing one of the most severe constitutional crises and as soon as the other market participants start to recognize this, expects the market to also pay attention.

As long as the EURUSD exchange stays below the big round number 1.2000, it’s not wrong to expect the bearish momentum to continue to dominate during the coming month. We have plenty of risk events that have the potential to set the stage for big movements in the Forex market and here are the most notable ones:

  • Wednesday, November 1, 2017 –The Fed interest rate decision is scheduled right on the first day of the new trading month. The Fed has signaled that the interest rates will continue to go higher and it seems that the most powerful central bank in the world is committed to the idea of reducing its balance sheet. While the rates are expected to be kept on hold at November’s meeting, expect the Fed to signal that they will rise one more time in December which can be a strong bullish catalyst for the US dollar.
  • Friday, November 3, 2017 – The NFP report is the highlight of the day. After a disastrous -33k NFP reading the market consensus is for a positive NFP figure of 160k. We can also expect a revision higher of the previous reading. The unemployment rate is expected to come flat at 4.2%, the lowest level since December 2000.
  • Monday, November 6, 2017 – Fed Chairman Janet Yellen is expected to deliver a speech to the Center for the Study of Democracy. The topic of her speech will be Economic Inequality in the United State.
  • Wednesday, November 15, 2017 – The EUGDP figures for the 2017 3rd quarter are scheduled to be released. According to the IMF upgraded forecast the European Union economic growth is projected to be in the vicinity of 2.1%.
  • Wednesday, November 15, 2017 – The US CPI inflation figures are another major risk event. The US inflation rose by 0.5% in the previous month while the CPI annualized rate stands at 2.2%. The elevated levels of inflation will likely keep the Fed on track to raise rates one more time this year.
  • Wednesday, November 22 – The FOMC minutes will give us further clues into the Fed’s monetary policy.
  • Wednesday, November 29, 2017 – The US GDP figures for the 2017 3rd quarter are scheduled to be released. The US economy is expected to grow by 2.4% which weaker than the Q2 reading of 3.1% increase.

The post Monthly Forex News Events that Might Affect EURUSD Volatility – Nov 2017 appeared first on Advanced Forex Strategies.

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[FOREX TIP] Weekly Forex News Events for EURUSD – 30th Oct to 3rd Nov 2017

EURUSD had a strong bearish week. The next week might be very volatile since there are some high impact news events to take place. Let us have a look at those news events.

Tuesday-31st October- 14.00 GMT

  • CB consumer confidence

It often sweeps away intraday stop losses by producing long spikes on the intraday charts.

Wednesday-1st November-12.15 GMT

  • ADP Non-Farm employment change

Usually, it produces some excellent trading opportunities. Those opportunities can be found; once the market is settled.

Wednesday-1st November-14.00 GMT

  • ISM manufacturing PMI

This is another news event, which produces volatility on the intraday charts.

Wednesday-1st November-14.30 GMT

  • Crude oil inventories

It does not always create huge volatility, but it could make the pair be extremely volatile. EURUSD traders should be careful with their intraday floating positions before this news event.

Wednesday-1st November-18.00 GMT

  • FOMC statement
  • Federal funds rate

Surely, the EURUSD is going to be extremely volatile for these two news events. Needless to say that major time frame traders will use the volatility to take their entries.

Thursday-2nd November- 12.30 GMT

  • Unemployment claims

Intraday traders should come out with their opened positions before this news event.

Friday-3rd November-12.30 GMT

  • Average hourly earnings m/m
  • Non-Farm employment change
  • Unemployment change

No doubt, this would be an extremely volatile day for the EURUSD traders. Major time frame traders will be eagerly waiting to see which it goes since they might use these news event to take the best entry of the month.

Friday-3rd November-14.00 GMT

  • ISM manufacturing PMI

Might not be that volatile, but intraday charts could end up having some long spikes for this news event.

The post Weekly Forex News Events for EURUSD – 30th Oct to 3rd Nov 2017 appeared first on Advanced Forex Strategies.

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[FOREX TIP] AUDUSD Weekly Forex Forecast – 30th Oct to 3rd Nov 2017

The Aussie like all the other commodity currencies has been weakening against the greenback. Since the stochastic indicator is already moving away from the oversold conditions we can expect at least a retest of the former support level 0.7730 which should now act as resistance. However, a break and a daily close above this level will open the door for more strength towards 0.7800.

On the downside, only a break and a daily close below 0.7624 will add more fuel to the sell-off but, until then we can expect more ranging activity as we already move to fast in a very short period of time. The Australian economic calendar is packed with only modest risk events. First, we have the Trade Balance figures scheduled on Thursday but we also have the Retail sales on Friday. On top of that we can also note some proxy-risk events from China, which have the potential to stir some volatility.

Previous AUDUSD Weekly Forex Forecast

AUDUSD Weekly Forex Forecast – 30th Oct to 3rd Nov 2017

The post AUDUSD Weekly Forex Forecast – 30th Oct to 3rd Nov 2017 appeared first on Advanced Forex Strategies.

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