Bitcoin Price Watch; Here’s What’s On Tonight

We are closing in on the end of the European session in the bitcoin price and – just as was the case yesterday – we’ve had a wild day in the markets. We were hoping (as we outlined this morning) to see some degree of fundamental shift in sentiment and – subsequent to the shift – an overarching turnaround in the bitcoin price and the price of some of its peer assets.

As it turns out, we’ve not got exactly what we were hoping for. Well, that’s not entirely accurate. We did see some degree of strength, especially heading into the later part of the afternoon out of Europe, but it’s far from enough to say with certainty that we expect markets to turn around longer term based on what we’ve seen.

As we always say, however, all we can do (when it comes to our intraday strategy, that is) is take the levels as they come and try to capitalize on any volatility, whichever direction it happens to be in.

So, let’s try and do just that.

As ever, take a quick look at the chart below before we get started so as to get an idea what’s on. It’s a one-minute candlestick chart and it’s got our primary range overlaid in green.

As the chart shows, the range that we are looking to carry into the session this evening comes in as defined by support to the downside at 11108 and resistance to the upside at 11251.

We’re going to get into a long trade if price closes above resistance, with an immediate upside target of 11400. Conversely, if we see price close below support, we’ll get in short towards a downside target of 11000 flat.

Let’s see how things play out and we will revisit tomorrow morning to try and respond to whatever happens overnight.

Charts courtesy of Trading View

Subscribe to our newsletter

Just weeks after a digital wallet provider for Stellar Lumens was hacked another altcoin wallet has been hit. This time Iota users found their wallets emptied by hackers using malicious online seed generators. It was estimated that $4 million in Iota tokens was stolen in the digital heist.

According to the IB Times the attackers used spurious websites to generate password details for the fintech network. The hackers also used DDoS attacks during the incursion and succeeded in moving IOTA users’ assets to their wallets via seeds they got from a compromised website.

Stolen seeds

Seed generation is a process whereby an 81 character string is created to open or protect an Iota wallet. It is the equivalent of a username and password, or a digital key. Online seed generating websites can perform this task which is quite complex. It can also be carried out offline however requires some technical expertise.

The website exploited was which generated the string by users moving their mouse randomly on the screen. The site has since gone offline leaving the unceremonious message “Taken down. Apologies.” It was the top result in the search pages for online seed generators – possibly an advert for a phishing site that had paid Google to be at the top.

IOTA secure

The Iota distributed ledger remains secure and only the wallets accessed with compromised seeds suffered losses. IOTA Evangelist Network member, Ralf Rottmann, took to Medium to explain the situation.

“From what I’ve heard, many users who lost their funds created their seeds at Chances are, the folks behind this and potentially other seed generators have sat tight for a while, collecting piles of seeds, though the actual numbers of users affected are not known to me. The fact, that is still online at the time of this writing might suggest that the site got compromised itself, and its not the folks behind the service who ran the attack.”

Rottmann went on to state;

“The victims literally shared the keys to their wallets with the attackers by using the attackers’ website. In essence, from a purely technical and security perspective, all transfers that happened under this attack, are legitimate transactions. The attackers knew the seeds. You invited them into your wallet, by handing them your keys on a silver platter. The attackers did not leverage anything IOTA specific! This is super important.”

Some observers commented that the situation could have been avoided if Iota ran and maintained its own seed generator. However Iota co-founder, David Sønstebø, had little sympathy and said users should be responsible for their own security, he went on to add;

“Some inexperienced users went to a website that was listed in Google Ads to generate a password i.e a phishing site. As a consequence, they essentially gave their password to this nefarious operator. IOTA the technology has not been affected at all.”

The attack comes just a week after $450,000 of XLM was lifted a from compromised third party Stellar Lumens digital wallet provider.

Identify Theft: Persona’s Blockchain Solution Offers Solution to Cyber Crime
Identity Theft: Persona Gives Control of Digital identity Back to Individuals
Persona: Zero-Knowledge Digital Identities For a Secure Digital Life Has Arrived
Persona Blockchain Secures Digital Identities and Blocks Out Cyber Thieves and Third Party Data Providers

Credit card theft, tax fraud, insurance and medical identity theft—in less than a minute, John reams off a dozen identity theft crimes he has committed.
“It is very easy to steal an identity,” brags John, whose true identity is concealed.
John is one of a growing number of cyber thieves who lurk on the dark web, a private network where personal identity information obtained through hacking and other illegal activities is exchanged. Their activities in this murky world have helped propel cyber identity theft to one of the top crimes and consumer complaints.

Whether your identity was snatched in the offline or online world, pieces of your life will likely end up on the dark web and traded among cybercriminals. Identity theft is the biggest risk to digital citizens who must provide personal information in all facets of their lives—from using social media or uploading a photo to conducting banking online.

Can you protect your digital life online?

The solution is never to have to hand over personal identification information to third parties. Regulators, however, are requiring more information be handed over more often as part of know your customer (KYC) requirements in an effort to deter cyber theft. By providing zero knowledge digital identity management solutions, Blockchain technology can uniquely protect consumers and businesses.

Identity management on the Blockchain empowers each individual to decide whether to share their identity and what private identity information they share with whom, explains Persona, a provider of a Blockchain-secured single identity management system.

This empowerment is possible because the Blockchain can authenticate a personal identity on an immutable, tamper-proof ledger system. Each identity is associated with an encrypted code, for which only the underlying individual controls the private key. To lock out cyber thieves from stage one, Persona uses a cross-verification process across multiple digital and a face-to-face procedure facilitated by notaries.

How to profit from a secure identity

Cyber thieves are not the only threat to your personal identity. Third-party data providers make billions of dollars a year selling private data. With the Persona identity management system, since individuals control their data they are the ones who can profit from it. They have the option of revealing selected information to trusted third parties. This information exchange will increasingly be provided as a service. A user could provide their email account in exchange for an air travel discount, premium account benefits, or other rewards and incentives.

While a Persona identity allows you to interact and transact anonymously, the Blockchain is not a dark web, but quite the opposite. All transactions are immutable and traceable. The source behind the formation of a new account, false news or insurance claim can be traced. The cyber-thief who tries to steal a Persona identity will soon discover that he can no longer erase his digital footprints.

A single sign-on digital identity

Once a Persona identity is verified, it serves as a single, sign-on identity across all facets of digital life. Whether writing a document, uploading a photo, chatting on social media or banking, all these actions require opening an account and supplying private data. The Persona identity is updated in one central place, negating the need to update dozens of accounts when your address or other personal information changes. Your credit rating, for example, could update automatically, triggering the provision of rewards and new services, such as a premium credit card with advanced benefits or a better mortgage rate. On the other hand, if one’s credit standing declines, this will be immediately apparent to those providing credit.

In addition to serving as a basic account profile, information can be attached to an identity to allow the same anonymity and security across diverse services, including credit rating profiles, medical records and reputation management systems. IoT devices used to remotely such as to track a shipment or provide home security could be more securely controlled through a Blockchain-secured identity.
Individuals can choose between two KYC verification services, community or private.

Each community verification brings you five percent closer to complete verification.  A private verification must meet the final 20 percent requirement.

Freedom is coming with PRS tokens

To leave your hackable digital life behind and assume a more secure Persona ID you will require the PRS token. With PRS tokens, digital citizens can obtain the verification services of their Blockchain identity. Although community verification is performed at no charge as a peer-to-peer service, the PRS token is required to initiate the service as well.

With their identities secure and controlled with their own private key, netizens are now free to chat, interact and transact safely across the digital world.

Cryptocurrency exchange KuCoin is the first to offer BCH trading pair support for six new coins.

It’s no secret that Bitcoin has risen dramatically over the past year. In fact, the price began 2017 just under $1000 and soared to touch $20,000 right before the end of the year.

This spectacular rise brought a large number of new users into the marketplace, seeking to take advantage of Bitcoin, both as an investment asset and as a means of payment.

With the rise, however, Bitcoin also encountered some troubles with transaction times and scaling, and so one group of developers created a hard fork coin called Bitcoin Cash (BCH). This forked coin has been the topic of much debate, and many industry insiders have argued that it is destined to fail.

In spite of the many negative views, though, BCH has continued to maintain a stable outlook, and has even begun to rise in price dramatically, as more users begin to enter the marketplace.

Users who want to access the platform and use it to trade for other cryptocurrencies have found it difficult to do so because of the lack of support from exchanges. That’s all about to change, though, as cryptocurrency exchange KuCoin has just announced that they will add BCH trading pairs, providing access and utility to their customers who trade BCH.

Leading the pack

The exchange is the leader among exchanges in embracing BCH trading pairs over a number of cryptocurrencies. In fact, KuCoin is the first among the top twenty exchanges to offer BCH trading pairs.

The company has already set themselves apart as one of the most innovative and revolutionary exchanges, providing trading and support for a wide variety of coins. The addition of the BCH trading pairs only adds to that market reputation.

The company has added support for the following pairs:
BCH/KCS (KuCoin)
BCH/ACT (AChain)
BCH/XAS (Asch)
BCH/DAT (Datum)

The addition of these pairs creates a number of real advantages for the BCH community. For starters, it opens up a number of new and important trading choices for BCH holders. The trading pairs also provide greater real use cases for the cryptocurrency.

Additionally, through this new trading group, KuCoin is provided a new set of choices for consumers in the marketplace and continues to diversify their platform. With the new trading pairs in place, transaction times and transaction fees will also reduce, making trading more smooth for KuCoin users.


To help launch the new trading pairs, KuCoin has created a number of reward competitions for users on their platform. Users who take advantage of the new BCH trading pairs could win big rewards in a number of different tokens, depending on their transaction volume.

Further, customers who retweet the KuCoin announcement can also receive bonuses in BTC.

For more information, or to sign up to participate in the new trading platform, check out KuCoin exchange online.

In 2018, bitcoin’s price might reach $50 000 but nowadays growth by 2000% at current price is impossible, according to CEO and Co-founder at Kambiz Djafari. Before Blockchain & Bitcoin Conference Gibraltar, its organizers interviewed the future speaker concerning blockchain development and regulation in 2018, token sales and the forthcoming conference.

Q: Why is Bitcoin price growing? Are there any fundamental principles?

A: Demand and supply. It really is as simple as this. Bitcoin has a groundbreaking technology in the blockchain. Since 2009, a lot has changed and technically more advanced products have hit the market, but Bitcoin is still the golden standard in Crypto Currencies and will keep this position for the foreseeable future.

Q: Which token sales in your opinion were the most impressive in 2017?

A: There were many big token sales in the last year. Some of them, like ICON or TenX performed very well, but in my eyes, KIN was the most notable due to the fact that the KIK messenger was already an established product. We will see many more big token sales of famous brands such as Telegram and Kodak now.

Q: Which factors influence the bitcoin rate?

A: The growth rate? See question 1, supply and demand. The adoption rate? Regulations. The more countries and governments regulate payments in Bitcoin, Litecoin, and others, the more likely are we going to see an adoption worldwide.

Q: How do you think, what is the maximum rate that Bitcoin can reach in 2018?

A: Bitcoin went from around $1.000 to almost $20.000 in 2017. With the current price of around $10.000 it is impossible to gain again roughly 2.000%. A price per Bitcoin of $25.000 to $50.000 seems possible to me, but no one really knows.

Q: Should cryptocurrencies be regulated at the international level? Will bitcoin survive under the pressure of state regulation?

A: International regulations would be amazing as this would set a standard for a world currency, but this will never happen in my opinion. Bitcoin will survive any regulations, although the price may fluctuate heavily in the process.

Q: Which method is an optimal one for regulating cryptocurrency on your opinion?

A: Installing the same regulations as we already have in FIAT currencies such as USD and EUR. Then again, Bitcoin is only the peak of the iceberg and most other coins such as Ethereum are more of a platform, which will make it harder and different to regulate.

Q: Bitcoin has no intrinsic value. What will keep it from the fate of the Dutch Tulip mania of the XVII century?

A: Gold, paper money, and diamonds have no intrinsic values either. We give all of those their value as we are giving them a certain worth. The Dutch Tulip mania comes to mind to every doubter, it happened before around the millennial with the infamous DotCom bubble. It is certainly possible that cryptos will pop as well, but just like in the early 2000s, when some companies, such as Microsoft, Apple, IBM, and Google survived, some coins will survive a bubble pop and surge afterward even stronger. Besides Bitcoin, Ethereum seems like a currency that could survive and bubble pop while others in the Top 50 have a chance as well.

Q: Which issues will you cover at Blockchain & Bitcoin Conf Gibraltar?

A: I will speak about the era of digital transformation powered by tokenization. Through tokenization it is possible to transfer the real-life asset or things of value into a fully digitalized economy. Furthermore, I will discuss infrastructures that have to be established in order to facilitate this enormous shift of value. Infrastructures will be built in a way that we call Blockchain as a service (BaaS). With Edgecoin, for example, we are aiming to disrupt education by using the blockchain for academic records and therefore make them completely decentralized. In general, blockchain has the ability to change the world for good and I will present a lot of examples of how this will change our daily lives in the near future. So, in near future, we will see not only education on Blockchain but also logistics, transportation, real-estate and many more industries built with or on the Blockchain.

At the conference, you will be able to meet and talk to the speaker as well as ask him all the questions you are interested in. Register for Blockchain & Bitcoin Conference Gibraltar here.

Love it or hate it crypto exchange Coinbase is raking it in. Known for some of the highest fees in the industry the company made over a billion dollars in revenue last year. This has caused an unusual problem in too many investors wanting a slice of the burgeoning Coinbase pie.

Silicon Valley tech news website Recode has revealed that the six year old company earned in excess of a billion dollars in revenue in 2017. This is really no surprise considering the thousands of complaints that regularly crop up across social media platforms. These usually involve the exchange’s excessive fees and commissions for transactions, or the total outages it has suffered under high demand. Coinbase is slow, expensive and has virtually non existent customer support but obviously that has not affected its capacity to make a fortune.

Beating the rest

As of September last year the company was only expected to make $600 million in revenue. However the surge in crypto prices and interest towards the end of the year has provided a boost to the firm’s figures. Its bumper revenue suggests it is the most used broker for Bitcoin and crypto exchanges. By comparison South Korean exchange Bithumb only made $280 million last year according to local press.

The company has been so successful that shareholders have been approached by venture capitalists and private brokers asking them if they would consider selling their Coinbase shares. The firm issued a warning to its own shareholders at the weekend;

“As a private company, Coinbase does not allow trading of stock on secondary markets for a variety of reasons, including the fact that there is not full and equal information available to the market. We will take appropriate action if we find people have sold Coinbase shares in violation of our agreements not to do so.”

Fees and commissions

Coinbase does not make money on the price fluctuations of Bitcoin. It charges for every transaction through its system so volume of trades makes a big difference. It charges both the buyer and the seller between 0.25% and 1% commission on the total transaction size thus working as both an exchange and a broker. In addition to this there are fees as high as 4% for fiat deposits and withdrawals.

For many they have little choice but to use Coinbase as their primary exchange due to limitations within their own country. The company offers fiat to crypto exchanges in 32 countries across the globe and has over 13 million registered users. At one stage it had the most popular app in Apple’s App Store and has more brokerage accounts than trading giant Charles Schwab. Coinbase’s killing is set to continue as crypto mania shows no signs of slowing down.


DASH tried to rally initially during the day on Tuesday but found the $800 level to be resistive. Because of this, the market looks likely to go down to the $600 level, as we have seen negativity yet again during the day. Ultimately, the $800 level will be a resistance barrier, with $600 offering support. Do not be surprised if we break below that level later.



Litecoin also drifted lower, reaching towards the $165 level. The market looks likely to test the lows again, which means we are going to go to the $140 level. It’s not until we close above the $200 level that I believe the market has a chance of rallying with any type of significance.

Thanks for watching, I’ll be back tomorrow.


Ethereum markets drifted lower during the day again on Tuesday, reaching towards the $900 level. There is an uptrend line underneath that could offer support, but at this market breaks down below the $800 level, look out below. At that point, I would expect to see this market reach towards the $600 level. Alternately, if we can break above the $1000 level with strong volume, we could see a recovery in price.



Ethereum markets went sideways during the trading session against Bitcoin again on Tuesday, as both crypto currencies are struggling. We are currently consolidating between 0.08 on the bottom, and 0.10 on the top. Because of this, I am staying out of this market and waiting for some type of impulsive move to get involved.

Thanks for watching, I’ll be back tomorrow.


Bitcoin initially tried to rally during the day on Tuesday but struggled again as it looks likely to continue lower. We are pressing the $10,000 level, an area that of course has attracted a lot of attention. However, it’s likely that we will break down below there considering the tenacity of the selling pressure, and the lack of positive volume. Because of this, I anticipate that we are going to continue to go lower, perhaps down to the $8000 level next.



Bitcoin also fell against the Japanese yen and is now below the ¥1.2 million level. It’s likely that we are going to go testing the ¥1 million level in the short term, so I believe that based upon the price action in the most recent candles, that we are going to continue to fall from here. A breakdown below the ¥1 million level would be very negative, sending the market much lower.

Thanks for watching, I’ll be back tomorrow.