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Latest cryptocurrency news and prices, 12 July 2019

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Latest cryptocurrency news and prices, 12 July 2019

Despite negative sentiment from US President Donald Trump towards Bitcoin and cryptocurrencies, the market seems unaffected with several top tier cryptos seeing green today. Here are your latest cryptocurrency news and prices for today.

Latest Bitcoin (BTC) news and prices

U.S. president, Donald Trump in a tweet yesterday, stated he is “not a fan” of cryptocurrencies. He states that they are “not money” citing their price volatility to the dollar. Trump’s tweet marks the president’s first public sentiments about crypto since being inaugurated. Read more here. 

The difficulty in bitcoin mining has reached an all-time high as per data from BTC.com, a Chinese mining pool.

As of July 9, the difficulty spiked by over 14% to reach 9.06 trillion with an average hash rate of 64.85 EH/s — a fresh all-time high in the network’s history. Read more here.

(Trading at $11,674.27 at 14:00 12 July 2019)

Latest Ethereum (ETH) news and prices

The U.S. Securities and Exchange Commission (SEC) has granted an ethereum-based token a Reg A+ qualification, the startup YouNow said Thursday.

Props is an ethereum-based blockchain token that integrates with streaming platforms like YouNow and XSplit to reward users and creators with tokens. Read more at coindesk.com 

(Trading at $276.07 at 14:00 12 July 2019) 

Latest Ripple (XRP) news and prices

Bears have established full control over XRP/USD recently as the coin has collapsed from above $0.40 at the beginning of the week and touched the area below $0.32 on Thursday. At the time of writing, XRP/USD is changing hands at $0.3230, down over 3% in recent 24 hours. The total market value of the coin was reduced to $13.8 billion, while an average daily trading volume is registered at $1.8 billion. Read more at fxstreet.com 

Litecoin (LTC) news and prices

American professional football team the Miami Dolphins announced that Litecoin (LTC) is now the team’s official cryptocurrency, according to a press release on July 11.

The Miami Dolphins and Litecoin have also partnered with Aliant Payments, a crypto merchant services and payment processing firm, to enable crypto payments for the team’s upcoming 50/50 raffle, which reportedly donates half of its revenue to charity. Read more at cointelegraph.com 

From yesterday’s low at $94.76 the price of Litecoin increased by 11.74% as it came up to $105.89 at its highest point today around which it is currently being traded. The price is still in an upward trajectory but is showing signs of encountered resistance as the last 15 – min candle left a large wick from its upper side..(Source:blockonomi.com) 

Bitcoin Cash (BCH) news and prices

Bitcoin Cash ABC tumbled by 10.47% on Thursday. Following on from a 6.74% fall on Wednesday., Bitcoin Cash ABC ended the day at $346.06.

An early morning rise to an intraday high $387.32 was the only bullish move of the day. Falling well short of the first major resistance level at $415.9, Bitcoin Cash ABC slid to a mid-morning intraday low $315.94.

Read more at fxempire.com 

EOS news and prices

EOS price consolidated for a long time above the $5.600 support area against the US Dollar. However, the price struggled to climb above the $6.100 resistance, resulting in a bearish reaction.

Read more at blockonomi.com 

(Trading at $4.79 at 14:00 12 July 2019) 

Binance Coin (BNB) news and prices

The Binance Coin contract has a function known as burn function, which is available to anyone, at any time. By calling this function one can permanently remove a nominated amount of coins from the circulating supply. All coin burns are recorded as a transaction on the blockchain, meaning that they are 100% transparent and anyone is able to verify that the coins have been destroyed. This is great to reduce the circulating supply and possibly boost the value of the remaining existing coins. Read more at ourbitcoinnews.com

The price of Binance Coin has tumbled over the past 24 hours, decreasing by more than 7.4% and trading at around $29.58 at the time of writing. The recent price drop coincides with a sharp decline in the Bitcoin market. (Source: cryptopotato.com)

Tether (USDT) news and prices

New York-based Metropolitan Commercial Bank has shut down accounts linked to stablecoin issuer Tether, according to CoinDesk.

Tether, Bifinex’s parent company iFinex, and Digfinex, the majority owner of iFinex and Tether, reportedly maintained accounts with the financial institution. But the recent report revealed that Metropolitan Commercial Bank has closed all three accounts, following a request last year. Read more at tokenpost.com 

(Trading at $1.00 at 14:00 12 July 2019) 

Bitcoin SV (BSV) news and prices

Currently, Bitcoin SV is ranked at #9 on CoinMarketCap. The price of BSV is $160.11. A drop of 2.98% was noted in the course of the past 24-hours. The circulating supply involves 17,854,986 BSV tokens. 

The trading volume recorded is $365.697 million. The total market cap of Bitcoin SV is $2.858 billion. Throughout his life, Craig Wright the founder of BSV has claimed to be responsible for a few inventions: the structure of Lasseter’s Online, being the co-author of the Bitcoin whitepaper, and so on.
Read more at outbitcoinnews.com

TRON (TRX) news and prices

Following a rising channel formation, Tron’s price has dramatically dropped to the low of $0.028 after plunging from the $0.045 high on June 26. However, the price drop is estimated by 45% over the past 15 days of trading and by 12.5% over the past 24-hours of trading as a result of selling control in the market. A bullish regroup might set a rebound in the market. As of now, the bears are dominant. Read more at tronweekly.com 

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Cryptocurrencies price prediction: Bitcoin, Ethereum & TRON – European Wrap – 17 October

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Bitcoin price prediction: BTC/USD recovery stalled on approach to $8,100 – Confluence Detector

Bitcoin (BTC) is changing hands marginally below $8,100. The first digital coin managed to regain some ground, having gained about 1% of its value in a matter of hours ahead of the European opening. Despite the recovery, BTC is vulnerable to further losses as the upside momentum is weak so far.

Bitcoin confluence levels

During early European hours BTC/USD  tested area above $8,100. Despite the recovery from the intraday lows, the upside momentum remains weak, which poses risks for Bitcoin. There are a few barriers both below and above the current price, though the move to the South looks like a path of least resistance. 

Bitcoin price prediction: BTC/USD recovery stalled on approach to $8,100 – Confluence Detector

Bitcoin (BTC) is changing hands marginally below $8,100. The first digital coin managed to regain some ground, having gained about 1% of its value in a matter of hours ahead of the European opening. Despite the recovery, BTC is vulnerable to further losses as the upside momentum is weak so far.

Bitcoin confluence levels

During early European hours BTC/USD  tested area above $8,100. Despite the recovery from the intraday lows, the upside momentum remains weak, which poses risks for Bitcoin. There are a few barriers both below and above the current price, though the move to the South looks like a path of least resistance. 

Ethereum market update: ETH/USD recovery capped by $178.00

ETH bottomed at $171.90 on Wednesday. By the time of writing, the second largest coin recovered to $176.78, however, the upside momentum is too weak to allow for an extended recovery towards critical $180.00. ETH/USD has gained 1.2% since the beginning of the day amid global recovery on the cryptocurrency market led by Ripple’s XRP.

Ethereum

TRON price analysis: TRX/USD crashes to 14th place on CoinMarketCap

At the time of writing, TRX/USD is changing hands at $0.0148. The coin has lost over 6.5% in recent 24 hours, and the downside momentum is still growing. Currently, TRON takes 14th place in the global cryptocurrency market rating, losing three positions to Monero (XMR), Cardano (ADA) and LEO. The total market value of Tron reduced to $983 million; an average daily trading volume registered at $626 million.

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China is Even “Closer” to Launching its Own Cryptocurrency

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While Libra is fighting obstacles, China is on the track to release its own crypto.

While Libra is fighting obstacles, China is on track to launch its own cryptocurrency. 

Cryptocurrency and China: closer and even closer. In August, the country said that its own token is just around the corner. The recent reports reiterate this “closeneness.” 

To be fair, China’s efforts are remarkable. Why? Because the country has banned and re-banned crypto. As a result, 88 Chinese cryptocurrency-exchanges closed. 85 projects for the initial placement of tokens seized to exist.

At the same time, in March 2019, the People’s Bank of China refused to recognize cryptocurrency as a means of payment, referring to its unreliability. However, it seems like it is a matter of who actually owns the cryptocurrency — the Chinese government or someone else. Thus, in August China’s central bank announced it is going to launch CBDC very soon.

It seems that the continuously worsening trade war between the U.S. and China only encourages this project.

What will be the main features of China’s crypto?

The CBDC coin will have a 2 level structure due to the country’s complicated economy. Mu Changchun, Deputy Chief of the People’s Bank of China (PBOC) explained, “The People’s Bank of China is the upper level and the commercial banks are the second level. This dual delivery system is suitable for our national conditions. It can use existing resources to mobilize the enthusiasm of commercial banks and smoothly improve the acceptance of the digital currency.”

He also mentioned that CBDC’s design will to some extent replicate Libra. And it will handle 30.000 transactions per second.

CBDC will be supported by Alipay and accessible through WeChat. Curiously, Alipay officially advised a few days ago they will ban any crypto payments.

The soon-to-be launch has generated a lot of opinions. In particular, Ripple’s CEO, Brad Carlinghouse believes it should be “a call for action for the US” if they want to remain a leader in the cryptocurrency industry.

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Which Cryptocurrency Should I Invest in 2019?

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What is the best cryptocurrency to invest in 2019? Lots of new and existing crypto investors ask this question. There are so many cryptos to invest in, but many analysts recommend investing in the oldest cryptocurrency in existence. If you have heard of digital currency, then Bitcoin must be the first you would come across. Its dominance is the highest in the market. If the coin continues to rise, it may just be the best cryptocurrency to invest in 2019.

Why you should invest in Bitcoin

Bitcoin price changes every day and it has seen several lows and highs in the last couple of years. BTC price went from $76 to $20,000 in a massive bull run in December 2017. After reaching this point, the coin dropped again to $6,000 and picked up again in April 2019. Since this time, it has fluctuated up and down.

With such a volatile market, how can you pick an excellent time to invest in Bitcoin? Here are some ways to find out:

One event was when BTC was split into 2 cryptos – Bitcoin and Bitcoin Cash. The investors who took advantage of this opportunity made huge profits while doubling their investments.

BTC price dropped a while later and investors panicked and sold off their Bitcoin which pushed the price below $10k. Bitcoin is the best long-term crypto investment you can make in 2019. Now is the best time to buy since there are only a few BTC left to be purchased. Also, BTC is the most secure investment of crypto and it also controls the market to a large extent.

In addition, the technical competence of bitcoin with Schnorr signatures, Segwit, MAST, Bulletproofs, MimbleWimble, Confidential Transactions, Drivechains, Sidechains, and Lightning Network is on the rise. All these factors come together to make it hard for other cryptos to catch up.

How to invest in bitcoin

You can buy Bitcoin from popular crypto exchanges such as Binance and Coinbase. The process is easy and you can easily store it in so many wallets on the web or even hardware wallets. It is an excellent time to have Bitcoin in your portfolio and it can take up 40-50% of the crypto portfolio.

However, if you want to venture into a Bitcoin investment, you need to remain updated with the latest trends and news around BTC. Most times, when there is new information about technical improvement in BTC, it may be a good time to buy. Another good time to buy is when the price of Bitcoin crashes because it is a good opportunity to buy at a low price.

If you haven’t invested in cryptos at all, then starting with BTC is the best option. Despite missing the first opportunity to buy bitcoin when it was cheap, investing now is still an excellent idea.

Investing in cryptos generally can be profiting. However, it means that you must also be ready to lose money. All the expert predictions in the world can not be correct all the time. No one in the space truly knows what will happen to the price of a cryptocurrency.

The best advice to heed when it comes to investing is only investing money that you aren’t afraid to lose. Keep this in mind before investing in any cryptocurrency.

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