Rebranding of MineCoin takes place with recoiling of ICO and Bounty Campaign

Minexsystems, initiated by Blockchain has rebranded their payment system to MinexCoin during the introduction of the second round of ICO.

The Development team behind MinexSystems rebranded “MineCoin” to “MinexCoin”, a payment system introduced by Kyiv-based Blockchain. With the upgradation of website, a bounty campaign can be relished as the second stage of its cryptocurrency ICO loom up.

A variety of features have been brought in on the new website — “

Users will be able to learn more about the company’s whitepaper, read terms and conditions of latest Campaign and enjoy assortment of features on this new website. Personal accounts of users on earlier website  “”  will be transferred to new website “”.

May 15, 2017 will be the beginning of  second stage of the MinexCoin’s ICO presale rambling till June 13th, 2017. Investors can purchase a part of total available 150000 MNC at a discounted price during the pre-sale.

The development team behind the company accredits that the cryptocurrency MinexCoin (MNC) imitates the concepts behind the blockchain technologies offered by them. The new website has revised design and various range of capabilities that enables users to get a snappy grasp of the future payment system.

MinexCoin’s second ICO round with it’s release date will hit exchanges and will be aimed towards determining the starting market price. The MNC’s index value will be methodized by ‘MinexBank’ – the algorithm for volatility control. MinexCoin will start trading on the leading cryptocurrency asset exchanges starting June 15, 2017.

During this first stage of the ICO, it experienced considerable interest within the blockchain community, thus the MinexSystems development team realized the currency’s wherewithal of success with its low-volatility algorithm. MinexSystems believes that this unique quality, along with other attributes, gives MinexCoin the potential to become the leading cryptocurrency soon.

It took MinexSystems less than 2 months to proceed the beta testing phase of MinexExchange. The first stage of  MinexSystems’ ICO was successfully completed ahead of schedule, while the remaining minecoins were endowed by participation of a blockchain society .

Over 400 investors from across the world were lured when the first MineCoin ICO stage was held over a three-month period, from September to December 2016. It also allowed the MinexSystems team to discuss MineCoin’s implementation and other cryptocurrency solutions within the MinexEcosystem with the early supporters of Minex Project.

Minex Bounty Campaign

The time frame of MinexSystems’s  Bounty Campaign is from March 29, 2017 to June 13, 2017. It allows participants during the public ICO stage to earn a reserved amount of 300,000 MNCs by actively engrossing in the MinexСoin project community. The allocated coins will be given away as marketing and reward bonuses.

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Right then. Here we go on our final analysis of the week, and it’s going to be a pretty interesting one. The bitcoin price has given us lots to discuss this week, having initially started out relatively flat but – as the week matured – boosting to break the 1300 level that we’ve had in our sights for a while. This breaking validated a longer term bullish bias, and we noted in this morning’s analysis that we would be looking for price to hold above this level near to medium term as indicative of us being able to maintain this bias.

Today’s action has given us what we wanted – sort of. Price has declined a little bit from the post break highs, and currently trades in and around 1315. We see this as a sort of post break consolidation, and it’s not too much of a surprise – traders are taking profits off the table and markets are rebalancing ahead of the next move.

If we see a test of 1300, we need it to hold firm if we are to maintain our bias. If it doesn’t, we could easily see a slip back down towards the 1280 region.

Anyway, let’s leave that alone for now, and focus on what’s immediately ahead. For the final time this week, take a quick look at the chart below to get an idea of what’s on, and where we’re looking to get into the markets tonight.

As the chart shows, the range we’ve got for this evening comes in at support to the downside at 1312, and resistance to the upside at 1319. Tight range, tight targets and risk management parameters.

If we see a close above resistance, we’ll get in long towards an immediate upside target of 1330. Conversely, a close below support will put us in short towards 1302.

Let’s see what happens…

Charts courtesy of SimpleFX

Russia recently announced its plans to assign a legal status to Bitcoin. While the cryptocurrency community rejoiced about the new developments, it is too soon to break out the champagne as Bitcoin mining can still be considered as a criminal offense, attracting jail time. Many people became aware of the scenario after the head of Russian Central Bank’s cryptocurrency working group explained about it during a recent speech.

According to one of the Russian cryptocurrency news outlets, Central Bank’s Elina Sidorenko, while speaking at the Blockchain & Bitcoin Conference Russia clarified that the country is currently working on creating cryptocurrency friendly regulations, which will also be applicable cryptocurrency mining activities. Meanwhile, Bitcoin mining continues to be perfectly legal, but the same can’t be said about selling the mined Bitcoin.

Sidorenko explained that mining Bitcoin while paying for any incurred overhead charges in legal, as the miner would be utilizing the resources for which he/she has paid for. But if a miner tries to sell the bitcoins earned during the process of mining, he/she will end up violating multiple laws. In order to sell the “legally mined” Bitcoin, a miner will have to create a company with relevant exchange licenses, which is, unfortunately, impossible in accordance with the existing corporate laws.

The publication quotes Sidorenko comparing mining with general habits and other activities by saying,

“You may brush your teeth, do pushups, or not brush your teeth but tell everyone you do. As long as you don’t sell your clean teeth and don’t sell the mined money it’s totally up to you. As long as you don’t import products into the exchange zones or the economy, you’re as clean as a whistle. They ask us what we’re going to do with companies that mine money. The answer is simple: the same what we do with companies knitting socks.”

By legalizing Bitcoin, Russia intends to put an end to potential money laundering activities involving cryptocurrencies. It will also enable the country to include virtual currencies in the tax net, generating more revenue for the government.

In the coming days, Russians can expect changes in the country’s corporate, tax and finance-related laws to facilitate the inclusion of cryptocurrencies as recognized currencies in the region. Whether the miners’ find a solution for their predicament in these new laws, is something that has to be seen in the future.

Ref: Forklog | Image: NewsBTC

The past few weeks have been quite exciting for the Abra team. The bitcoin-based money transfer service continues to add a lot of support for US bank accounts and credit unions. Not too long ago, the list had grown to over 50 US banks, which is quite impressive. As of yesterday, the company added another dozen institutions to this quickly expanding list. Abra seems to be firing on all cylinders as we speak.

Abra Continues To Grow Exponentially

it is positive to see Abra make such progress in a short amount of time. The company unveiled they further improved support to fund Abra accounts from US bank accounts and credit unions. To be more specific, a total of 63 institutions are now supported. That is quite a substantial amount, to say the least. The bitcoin-based money transfer service continues to grow and expand at an accelerated pace as of right now.

Among the newly supported US banks are quite a few big names. Bank of America, Capital One, Chase, Citibank, Wells Fargo, PNC, and US Bank are just a few of these names.  It is also positive to see so many credit unions on the list right now. Bitcoin-oriented companies should never overlook the potential of credit unions these days, that much is certain.

The main benefit of expanding bank support is so users can enjoy improved deposit speed. Putting funds into an Abra wallet needs to happen quickly. Right now, the process still takes 2-3 business days. However, the team is working on a solution to cut that time in half over the coming weeks. Some banks and credit unions even support same-day deposits, although those are still pretty rare occurrences. Improved bank deposit speed is never a bad thing when sending money around the world, though.

Additionally, the Abra wallet has seen some minor interface upgrades. Users can now track their bank transfers along every step of the process. That is quite a nice addition, as it provides some more insight as to why these transfers take so long. Moreover, it also shows if deposits are canceled or on hold for whatever reason.  Furthermore, the wallet now uses the bitcoin price from the XBX Index, rather than Coinbase. In doing so, the team wants to provide a more accurate global average bitcoin price conversion rate.

Header image courtesy of Shutterstock

It is not surprising wealthy individuals take a keen interest in cryptocurrency. Mike Novogratz, a well-known billionaire, has certainly done so in the past. In fact, ten percent of his total net worth comes in the form of bitcoin and Ether. That is quite a substantial amount, although no one knows for sure how wealth Novogratz is, to begin with. It is good to see people openly talk about their cryptocurrency holdings, though.

Novogratz Is Keen On Cryptocurrency

At a recent Harvard Business School Club forum, Novogratz stated how 10% of his net worth is about bitcoin and Ether. That is quite a considerable amount, as he is a billionaire since 2008. He also stated how cryptocurrency is the best investment of his life to date. This sends a clear message to anyone looking to make future worthwhile investments. Traditional finance is no longer lucrative by any means, whereas cryptocurrencies have a ton of upside potential.

It is unclear when Novogratz made his initial bitcoin investments, though. Given the recent price increases of both Ethereum and bitcoin, it is possible he was an early investor or someone who came late to the party. To be more specific, he claims to have bought ETH when it was US$1. In either event, there are lots of profits to be made in the near future. Bitcoin has been on a substantial bull rush over the past 10 months and there is no sign of slowing down just yet.

Novogratz also mentioned how he feels a US$2,000 price per bitcoin is a realistic target. While that is not necessarily as optimistic as some bold claims, it is good to hear the acknowledgment for future gains. However, he was also quick to acknowledge we may find ourselves in a bitcoin bubble in the near future. Diversifying investment portfolios remains the number one priority. That also means investors should buy different digital currencies. Not putting all eggs in the same basket is a viable trading and investment strategy, that much is certain.

It is evident cryptocurrencies are catching on as of right now. Every investor wants to be a part of the next bit thing. While that “big thing’ may not necessarily be bitcoin or Ether, both assets have a lot of margin for future profits. Digital assets are all of the hype right now, and cryptocurrencies have their role to play in this regard. However, the chance of getting caught up in a bubble are very real, to say the least. Diversification remains critical, even in the world of bitcoin and Ether

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So that’s the big one broken. We’ve been looking for a 1300 test for the past few weeks (although we’ve also been slightly quiet about our intentions to trade it as and when it gets hit so as not to jinx the play), and we thought we might have to wait until volume picked up again early next week before it came.

As things have turned out, that’s not the case.

Price broke clean through 1300 early evening (Europe) on Thursday, and a sharp spike back below what we were at that point looking to as resistance followed. It didn’t last, however, the definition of a spike, we suppose, and the bitcoin price broke back above the 1300 level relatively quickly.

We’re now trading in and around the 1320 mark, and we’re looking for price to hold above 1300 for the next few days as indicative of said level serving as solid support long term.

The break also gives us some nice fresh levels to go at with our intraday strategy, so with that noted, here’s a look at the levels in focus, and where we intend to get in and out of the markets according to the rules of our intraday strategy.

As ever, take a quick look at the chart below to get an idea of what’s on before we get to the detail. It’s a fifteen-minute candlestick chart and it’s got our key range overlaid in green. We’ve gone back to the fifteen-minute time frame to try and take advantage of the slightly longer term breaks, given the recent threshold reach.

So, as the chart shows, the range in focus for today is defined by support to the downside at 1311 and resistance to the upside at 1323. If we see a close above resistance, we’ll be in long towards an upside target of 1235. Conversely, a close below support will put us in towards 1300.

Charts courtesy of SimpleFX

Hello and welcome to News BTC’s Market Outlook April 21.


DASH went back and forth during the session, bouncing around between $71 and $78.50 on the top against the US dollar. This range bound action looks set to continue, so a simple range bound trading system is probably best employed here. Looking for support near $71, and most certainly extending down the $70 to go long would make sense, while shorting near the $78 level should bring profit.


The LTC/USD pair rallied slightly during the evening, bouncing off of the $10 level. With the psychological significance of $10, I believe that this market is going to continue to try to grind higher, and the first target would be $12. A break above there should send this market to the $13.50 level above which was the recent high. Pullbacks should continue to offer short-term buying opportunities. Ultimately, this market should break out as we have seen so much bullish pressure all the way down to the $7 level.

Thanks for watching and see you again tomorrow

Hello and welcome to News BTC’s Market Outlook April 21.


After a significant selloff late in the evening, Ethereum has gained back most of the losses to hover around the $50.65 level. Currently, looks as if the market is consolidating to build up a bullish pressure and head towards the $52 level again. A break above there sends the market looking for $53, and then higher levels. Currently, pullbacks look well supported below, especially near the $49.50 level.


Ethereum sold off against Bitcoin as well but also has rallied a bit. We are currently hovering around $0.04, and forming an asymmetrical triangle. Because of this, looks as if bullish pressure may be building and a break above the $0.0402 level should send this market much higher. Currently, with these low valuations it’s difficult to start selling so I am more inclined to look at the upside.

Thank you for watching and see you again tomorrow.


Hello and welcome to News BTC’s Market Outlook April 21.


Bitcoin rallied slightly overnight against the US dollar, but still finds quite a bit of resistance just above. In fact, there is a significant amount of resistance extending all the way to the $1300 level, so expect choppiness going forward. Short-term pullbacks could be buying opportunities, but quite frankly this will be a very volatile move to the psychologically important $1300 level. I see significant support at $1240.


Against the Japanese yen, Bitcoin finds itself banging on the resistance near the ¥139,000 region. A break above there sends this market looking for ¥150,000, and perhaps even higher than that. Currently, I think it’s prudent to expect short-term pullbacks but they should only offer value as the currency has been so strong as of late. In fact, selling isn’t even a thought until we break below the ¥130,000 level.

Thanks for watching and see you again tomorrow.



Key Highlights

  • ETH price after a sharp decline towards $47.40 against the US Dollar found support and recovered.
  • There is a new connecting bearish trend line formed with resistance at $51.40 on the hourly chart (ETH/USD, data feed via SimpleFX).
  • The price may dip a few points to $50.80 before finding support for the next move.

Ethereum price after a sharp decline recovered and moved above $50.80 against the US Dollar, putting ETH/USD back in the bullish zone.

Ethereum Price Buy Dips?

It looks like ETH price is back in the bullish zone after a dip towards $47 against the US Dollar. Yesterday, we saw a nasty decline towards $47.40 where the price found support and later started recovering. The upside was excellent, as the price was able to move above the 50% Fib retracement level of the last decline from the $52.42 high to $47.40 low. The upside move was such that the price easily moved above the 50 handle.

Later, there was a move towards 76.4% Fib retracement level of the last decline from the $52.42 high to $47.40 low where it faced sellers. Also, a new connecting bearish trend line with resistance at $51.40 on the hourly chart of ETH/USD acted as a hurdle. At the moment, the price is trading in a tiny range with a chance of a minor dip to $50.80.

Ethereum Price Technical Analysis ETH USD

The price may test the 23.6% Fib retracement level of the last wave from the $47.40 low to $51.78 high. In my view, dips remain supported around $50.80. If there is any decline, the price may find support. The 100 hourly simple moving average is also waiting at $50.60 to provide support if the price moves down.

Hourly MACD – The MACD is now back in the bullish zone.

Hourly RSI – The RSI has moved above the 50 level, and showing positive signs.

Major Support Level – $50.80

Major Resistance Level – $51.40


Charts courtesy – SimpleFX