Category: Bitcoin Cash

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Top 3 Coins to Watch Today: BCH, ICP, GALA – April 8 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Bitcoin Cash (BCH)

Bitcoin Cash BCH is a peer-to-peer electronic cash system that aims to become sound global money with fast payments, micro fees, privacy, and high transaction capacity (big blocks). In the same way that physical money, such as a dollar bill, is handed directly to the payee, Bitcoin Cash payments are sent directly from one person to another. As a permissionless, decentralised cryptocurrency, Bitcoin Cash requires no trusted third parties and no central bank. Unlike traditional fiat money, Bitcoin Cash does not depend on monetary middlemen such as banks and payment processors.

BCH Price Analysis

At the time of writing, BCH is ranked the 26th cryptocurrency globally and the current price is US$336.47. Let’s take a look at the chart below for price analysis:

Source: TradingView

March marked a turning point for BCH, with the price rocketing up almost 45% from its lows to probable resistance beginning near $386.22.

The price is currently struggling with the area between $365.43 and $329.76. This region could provide support after a close above – or resistance after a close below. 

A retracement could reach into the daily gap and possible support around $340.33. A more bearish shift in the marketplace will likely aim for the relatively equal lows near $336.21, and the potential support just below that begins around $330.64.

Continuation to the upside will likely target the monthly high near $375.30. However, probable resistance beginning at $390.55 and $420.05 could cap or slow down this move.

2. Internet Computer (ICP)

The Internet Computer ICP is the world’s first blockchain that runs at web speed with unbounded capacity. It also represents the third major blockchain innovation, alongside Bitcoin and Ethereum – a blockchain computer that scales smart contract computation and data, runs them at web speed, processes and stores data efficiently, and provides powerful software frameworks to developers. By making this possible, the Internet Computer enables the complete reimagination of software, providing a revolutionary new way to build tokenised internet services, pan-industry platforms, decentralised financial systems, and even traditional enterprise systems and websites.

ICP Price Analysis

At the time of writing, ICP is ranked the 36th cryptocurrency globally and the current price is US$19.16. Let’s take a look at the chart below for price analysis:

Source: TradingView

During March, ICP also turned the corner, breaking a key swing high. This move could suggest a longer-term bullish trend.

The swing high near $26.24 stands out as a bullish target and marks an area of probable resistance. Further continuation could reach into possible resistance starting near $30.12.

Even if the bearish trend continues, a stop run at the recent swing low near $17.15 into possible support beginning near $16.50 is reasonable. If the price reaches further down, the swing low and possible support near $15.70 might provide another downside target. 

The area near $14.55 could also provide support. However, a drop this far could suggest a stop run below the higher-timeframe relatively equal lows near $13.79 into possible support beginning around $12.90.

3. Gala (GALA)

GALA aims to take the gaming industry in a different direction by giving players back control over their games. Gala Games’ mission is to make “blockchain games you’ll actually want to play”. The project wants to change the fact that players can spend hundreds of dollars on in-game assets and countless hours playing the game, all of which could be taken away from them with the click of a button. It plans to reintroduce creative thinking into games by giving players control of the games and in-game assets with the help of blockchain technology.

GALA Price Analysis

At the time of writing, GALA is ranked the 67th cryptocurrency globally and the current price is US$0.2259. Let’s take a look at the chart below for price analysis:

Source: TradingView

After setting a low last week, GALA kicked off a recovery trend to break the new monthly highs.

The following 55% plummet found support near $0.2076, sweeping under the 40 EMA into the 59.8% retracement level before bouncing to resistance beginning at $0.2430.

This area could continue to provide resistance, possibly causing a retracement to the 9 EMA and 18 EMA near $0.2712, where aggressive bulls might begin bidding. The level near $0.2950, which has confluence with the 40 EMA, may see more interest from bulls loading up for an attempt on probable resistance beginning near $0.3285. 

However, if Bitcoin continues its sideways trend, much lower prices could be seen. The old support near $0.1980 could provide at least a short-term bounce. If this level fails, the old highs near $0.1754 might also give support and see the start of a new bullish cycle after retesting these support levels.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

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Bitcoin Cash Crypto News Market Analysis Stellar Trading Zcash

Top 3 Coins to Watch Today: BCH, XLM, ZEC – December 1 Trading Analysis

Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.

1. Bitcoin Cash (BCH)

Bitcoin Cash BCH is a peer-to-peer electronic cash system that aims to become sound global money with fast payments, micro fees, privacy, and high transaction capacity (big blocks). In the same way that physical money, such as a dollar bill, is handed directly to the payee, Bitcoin Cash payments are sent directly from one person to another. As a permissionless, decentralised cryptocurrency, Bitcoin Cash requires no trusted third parties and no central bank. Unlike traditional fiat money, Bitcoin Cash does not depend on monetary middlemen such as banks and payment processors.

BCH Price Analysis

At the time of writing, BCH is ranked the 22nd cryptocurrency globally and the current price is US$581.04. Let’s take a look at the chart below for price analysis:

Source: TradingView

October marked a turning point for BCH, with the price rocketing up almost 70% from its lows to probable resistance beginning near $716.22.

The price is currently struggling with the area between $615.43 and $465.76. This region could provide support after a close above – or resistance after a close below. 

A retracement could reach into the daily gap and possible support around $534.33. A more bearish shift in the marketplace will likely aim for the relatively equal lows near $510.21, and the potential support just below that begins around $490.64.

Continuation to the upside will likely target the monthly high near $612.30. However, probable resistance beginning at $648.55 and $692.05 could cap or slow down this move.

2. Stellar (XLM)

Stellar XLM is an open network that allows money to be moved and stored. When it was released, the goal was boosting financial inclusion by reaching the world’s unbanked – but soon after, its priorities shifted to helping financial firms connect with one another through blockchain technology. The network’s native token, lumens, serves as a bridge that makes it less expensive to trade assets across borders. All of this aims to challenge existing payment providers who often charge high fees for a similar service.

XLM Price Analysis

At the time of writing, XLM is ranked the 25th cryptocurrency globally and the current price is US$0.3457. Let’s take a look at the chart below for price analysis:

Source: TradingView

XLM set a high near $0.7197 in May before retracing nearly 85% to find a low near $0.2544. The price consolidated around this level before the strong bullish impulse during the past several weeks.

Probable resistance near $0.3778 is slowing the bullish advance down. However, another leg might target the last swing high at $0.4082 and relatively equal highs at $0.4534. Resistance near $0.4859 could cap the move before the second swing high. Beyond these levels, little stands in the bulls’ way before reaching the swing high near $0.5149.

A retracement before a move higher might find support in the daily gap near $0.2923, just above the monthly open. Relatively equal lows near $0.2775 could also provide support. A run-on stops at $0.2616 and $0.2531 might find support in the gap beginning near $0.2426 or a high-timeframe level near $0.2285.

3. Zcash (ZEC)

Zcash ZEC is a decentralised cryptocurrency focused on privacy and anonymity. It uses the zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions. Zcash transactions, on the other hand, still have to be relayed via a public blockchain, but unlike pseudonymous cryptocurrencies, ZEC transactions by default do not reveal the sending and receiving addresses or the amount being sent.

ZEC Price Analysis

At the time of writing, ZEC is ranked the 60th cryptocurrency globally and the current price is US$224.28. Let’s take a look at the chart below for price analysis:

Source: TradingView

ZEC‘s recent bearish flip of the 9, 18 and 40 EMAs might cause bulls to be less aggressive in bidding. However, possible support near $215.87 and $205.96 – between the 61.8% and 78.6% retracements – could see at least a short-term bounce. 

Last year’s long-term consolidation suggests that the areas near $190.45 and $176.23 may be more likely to cause a longer-term trend reversal.

Bears are likely to add to their shorts at probable resistance beginning near $243.50, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $258.12, the start of the bearish move.

If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $270.41 might provide a ceiling for this impulse.

Learn How to Trade Live!

Join Dave and The Crypto Den Crew and they’ll show you live on a webinar how to take your crypto trading to the next level.

Duration: 6 week course
From: November 15 to December 22
Date/Time: Twice a week, Mon and Wed at 7pm AEST
Location: Zoom webinar

Where to Buy or Trade Altcoins?

These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.

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Bitcoin Cash Crypto News Payments

Bitcoin Cash Spikes Amid Fake Press Release Claiming Kroger Will Accept It

Kroger, an American retail company and the largest US supermarket by revenue, has debunked a press release from PR Newswire (PRN) that claimed it will start accepting Bitcoin Cash (BCH) as payment this December. 

Shortly after the fraudulent press release was published, BCH saw a price boost of over 4.6 percent, taking the coin from US$602.63 at 11:30 UTC to US$630.70 in just 15 minutes. 

Kroger referred to the report as “fraudulent” and that it should be disregarded immediately. The release appeared on Kroger’s investor relations page, only later to be deleted, while simultaneously appearing on PRN – also deleted. PRN went on to say it was “urgently investigating the incident, including looking into any criminal activity associated with this matter”.

Unsurprisingly, BCH took a hit after Kroger debunked the report, even falling short of its previous price before the announcement to US$601.20. At the time of writing, BCH was trading at US$605.28.

Verify, Not Trust

This is analogous to a growing number of fake news reports in the crypto community. As Crypto News Australia reported in September, Litecoin surged amid a press release saying retail giant Walmart was partnering with the cryptocurrency to accept crypto payments.

Verifying the authenticity of news is important in order to make good decisions about your investments. If retail giants such as Walmart or Kroger started accepting crypto as payment, it’s highly unlikely they would begin with Bitcoin-forked currencies like BCH or BSV, or altcoins like Litecoin.

One recent example of practical cryptocurrency adoption is El Salvador, which recently used bitcoin profits to build 20 schools, besides funding numerous projects to help develop infrastructure in the country.

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Bitcoin Bitcoin Cash Crypto News Crypto Wallets

Craig Wright in Court Battle Again Over Satoshi Nakamoto Claims

Australian computer scientist Craig Wright once again finds himself at the centre of a legal battle, this time regarding the rights to Satoshi’s 1.1 million BTC wallet, currently valued at US$69 billion.

On November 1, the crypto “Trial of the Century” kicked off in Miami, US, with plaintiff Ira Kleiman facing off against Wright, the self-proclaimed Satoshi Nakamoto, the presumed peudonymous developer of Bitcoin. Many hope that the trial will shed some light on Wright’s claims. However, that’s less the primary focus of the trial than whether the late David Kleiman (Ira’s brother) and Wright were business partners, entitling Ira to half the contents of the wallet.

Given bitcoin’s current price, the wallet’s holdings – assuming the holder started with no net worth – would make its possessor the 15th richest person in the world, according to Bloomberg’s Billionaire Index.

The Fight for ‘Satoshi’s Bitcoins’

Wright, the Australian crypto pioneer who has made various claims that he is Satoshi Nakamoto, is fighting a lawsuit that could end with him having to share the contents of Satoshi’s wallet. Wright has even gone to the lengths of filing lawsuits against those who have alleged that he isn’t Satoshi.

Kleiman alleges that his late brother David, who was a computer forensics expert, collaborated with Wright on the creation and early development of Bitcoin. The Kleiman estate is asking for US$11.4 billion, alongside the return of intellectual property or its fair market value. Wright claims he is the sole inventor and thus the only individual entitled to the billions held in the wallet.

Australian crypto pioneer Craig Wright. Source: CoinGeek

The suit alleges that David Kleiman and Wright formed a partnership and established an entity called W&K Info Defense Research, LLC, which they used to mine bitcoin and organise their joint intellectual property, including the Bitcoin source code. It is also alleged that Kleiman was involved in multiple business relationships with Wright. The Kleiman estate has accused Wright of perpetrating “a scheme against Dave’s estate to seize Dave’s bitcoins and his rights to the intellectual property associated with the Bitcoin technology”.

The case file from 2018 states that “it is undeniable … that Craig and Dave were involved in Bitcoin from its inception and that they both accumulated a vast wealth of bitcoins from 2009 through 2013”.

A panel of 10 jurors will have three weeks to hear the evidence and decide the fate of what Wright’s team is calling “Satoshi’s bitcoins”.

Can They Even Access the Wallet?

The still-unsolved mystery of Satoshi Nakamoto’s identity, and Wright’s seeming inability to retrieve the coins in his wallet, means that recovering the coins may not be possible in any case. 

According to Aaron Brown, a crypto investor who also writes for Bloomberg Opinion, Wright is definitely “an important early innovator in cryptocurrency, and is also rich from cryptocurrency”, adding: “beyond that, his claims to be the main or only author of the original Bitcoin white paper have little support”.

To this day, Wright hasn’t been able to prove that he is in fact Satoshi or that he even has access to the wallet. After announcing in May 2016 that he would move Satoshi’s bitcoin – proving he had access to Satoshi’s private keys and was, therefore, Satoshi – Wright failed to do so, writing, “I do not have the courage. I cannot”, in a now-deleted blog post. If Wright really is Bitcoin’s inventor, he should presumably have the ability to control the keys.

While Bitcoin SV proponents and Wright’s fans believe the trial will finally prove Wright’s Satoshi claims, others believe it may disprove his theories. If Kleiman wins the case, but Wright is proven not to be Satoshi (or has lost access to the wallet), will Kleiman still be able to access the bitcoin at the heart of the dispute? Most likely not.

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Australia Bitcoin Cash Crypto Debit Cards Crypto News Ethereum Payments Ripple

First Aussie VISA Crypto Debit Card Officially Approved

Visa has approved the issuance of physical crypto debit cards to allow Australians to pay for goods at local stores and venues without having to exchange crypto to fiat, but using bitcoin (BTC) and other assets directly.

There are various companies working together to bring the first crypto spending card to Australians. Aussie software technology firm Novatti Group is in charge of the card issuance while New York-licensed custodian BitGo will safeguard the assets.

Transactions will be made through CryptoSpend, an Australian startup that called the attention of the payment giant and approved the project after reviewing the startup’s compliance with anti-money laundering regulations. 

Co-founder of CryptoSpend, Richard Voice, says the number of Aussie users who want to use crypto in their local stores is increasing every day.

We have customers that range from 18-year-old students to 70-year-old grandmothers. [This] further emphasises the growing appetite for people of all ages to use crypto as an everyday currency.

Richard Voice, CryptoSpend

First BTC Spending Card in Australia

There are several crypto debit cards for Aussies, but their use is restricted and no Australian payment application is in charge of their issuance.

Visa has already approved debit cards issuance for various crypto-exchanges worldwide, but they are not yet available in Australia. This card, which is slated to arrive in September, is the first to allow Aussies to use cryptoassets on an Australian payments card.

Australian customers can download the app via AppStore or Google Play and fund their portfolio with other assets besides bitcoin, including ethereum (ETH), ripple (XRP), and Bitcoin Cash (BCH).

In February, the number of users on the Visa network increased exponentially as they were using crypto cards to convert crypto to fiat to spend it on merchants worldwide. The payment giant said this trend was “unmistakable”.

For the tens of millions of people using those platforms, one of the simplest ways to spend crypto is through a Visa card. We’re seeing digital wallets and crypto platforms build payment products entirely with digital currency.

Visa spokesperson
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Bitcoin Bitcoin Cash Crypto News Dogecoin Ethereum Payments

Leading Car Auction Company Mecum Now Accepts Bitcoin Payments

Mecum Auctions
Mecum Auctions https://twitter.com/mecum/status/1394669692124532740/photo/1

One of the world’s largest collector car auction company, Mecum Auctions, has announced that it now accepts payments in Bitcoin and other major digital currencies from bidders during online auction events.

You Can Bid on Collector Cars With Cryptocurrency

Per the announcement, the company will accept bids in about ten cryptocurrencies including Bitcoin (BTC), Dogecoin (DOGE), Bitcoin Cash (BCH), Ethereum (ETH), and stablecoins such as USD Coin (USDC), Binance USD, and others.

This is made possible following Mecum Auctions’ partnership with one of the industry-leading crypto payment processors, BitPay. The development today will enable bidders to experience the “convenience of an end-to-end digital experience”, according to Mecum.

Additionally, the company believes its crypto payment service will enable them to attract new customers and sales, as it opens doors to new massive crypto marketplace.

We recognize the growing acceptance of cryptocurrency for commerce and are confident that by accepting crypto for collector cars, it will widen our scope of influence and introduce the Mecum Experience to an entirely new audience.

Sam Murtaugh, Chief Operating Officer at Mecum Auctions [source]

Aussies Can Buy Cars With Bitcoin

Mecum is not the first company to accept Bitcoin payments for purchasing cars. Only a few weeks ago, Crypto News Australia reported that CarBuyers.com.au is allowing Australians to buy and sell their vehicles using Bitcoin.

Tesla also previously allowed people Bitcoin payments for its products. Not until May 12, when the founder Elon Musk tweeted that the company will no longer accept payments in Bitcoin due to environmental concerns. The announcement preceded the massive drop in the price of the cryptocurrency, as people began to panic-sell their coins.

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Bitcoin Bitcoin Cash Bitcoin.com Games Crypto News

Free Spin Mondays – Claim & Win Bitcoin on Bitcoin.com Games

Bitcoin Games Free Spins Mondays
Bitcoin Games Free Spins Mondays

Bitcoin Games, a popular online casino, are running a special promotion every Monday offering 50 free spins on their online pokies games. Eligible players can claim their free spins and try to win BTC.

How To Claim Your Free Spins

The ‘Free Spins Mondays’ promotion is available for all Bitcoin.com Games. To claim the reward:

  1. Go to the Bitcoin Games website
  2. Click Sign Up
  3. Verify your email address
  4. Deposit $50 AUD
  5. Wager $50 AUD on games
  6. You will then receive your 50 free spins

The minimum deposit to be eligible for the bonus is $50 AUD in currency equivalent Bitcoin (BTC) or Bitcoin Cash (BCH). The maximum amount a player can win from the Free Spins is $100, rewarded in Bonus Money. Free Spins rewards will expire after 3 days if unused. For more details, read the terms and conditions of the promotion directly on Bitcoin Games website.

About Bitcoin.com Games

Bitcoin.com Games logo

Bitcoin.com Games is an online casino where you can play popular games using Bitcoin (BTC & BCH). Players from Australians and worldwide can play over 110 games which include Slots (Pokies), Table games, Live casino, Jackpots. Features include playing anonymous without KYC or creating an account, instant deposit & withdrawals – no waiting to cashout, and 24/7 support.

Gambling Addiction Support

Gambling addiction is a real problem for some people – if you need help please call the Australian Gambling Hotline 1800 858 858 or visit gamblinghelponline.org.au for support.

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Bitcoin Bitcoin Cash Bitcoin.com Games Crypto News

GoDaddy Removes Fake $100 Million Listing for Bitcoin.com Domain

Bitcoin.com
Bitcoin.com

The domain name of Bitcoin.com, a popular digital currency-related web platform, was listed on GoDaddy for sale on Monday. However, the company has removed the listing after the CEO of Bitcoin.com, Roger Ver, raised a complaint.

Roger Is Not Selling Bitcoin.com

Screenshot of the Bitcoin.com listing before it was removed [GoDaddy]

On Monday, Bitcoin.com was placed on sale for a minimum offer of £72,301,352 (i.e., US$100,462,728) on the web hosting and domain registrar company GoDaddy. A lot of Twitter users in the crypto community commented on that.

Ver immediately reached out to GoDaddy asking: “Why are you listing my domain name for sale? It isn’t for sale. […] Please remove this fake news that is damaging my real brand,” as he wrote in a message reported by The Block, adding that it was 100 percent fake news.

About Bitcoin.com

Bitcoin.com is a popular cryptocurrency web platform that offers several services related to Bitcoin (BTC) and Bitcoin Cash (BCH), including buying and selling the cryptocurrencies, wallet service, etc. The domain is currently owned and managed by Roger Ver, an early promoter of Bitcoin.

It remains unknown why the domain was listed on sale on GoDaddy.

Other crypto-related domains went up for sale on GoDaddy, including:

  • Crypto.com sold for $12 million to Monaco in 2018
  • Ethereum.com up for sale for $10 million in 2017

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Australia Bitcoin Bitcoin Cash Coinbase Ethereum Litecoin

Australian Online Pet Shop Now Accepts Cryptocurrency As Payment

Pet Parlour is the first Australia pet shop to accept cryptocurrency through their partnership with digital currency exchange Coinbase. Customers can pay using Bitcoin, Bitcoin Cash, Dai, Ethereum or Litecoin.

Launching in November, Pet Parlour aims to deliver high quality pet products fast to Australian consumers. Founder Tom Sadler says,

“Our approach is unique in the Australian market. We wanted to offer our customers every possible payment solution. By offering multiple payment options we are aiming for a frictionless customers experience.”

At the moment, it looks like the pet shop mainly offers Dog products including dog food, toys and shampoo. They are supporting many brands, including the Australian Naturals range, where every product bought also supports an Australian business.

Along with accepting cryptos as payment, customers also have the option of paying via Visa, Mastercard, PayPal or Afterpay.

Developing Trend – Australian Businesses Accepting Crypto as Payment

Cryptocurrency is not yet adopted mainstream as an everyday payment option, but this trend is slowly changing as we see more Australian businesses consider accepting it.

While Pet Parlour is the first Australian pet shop to go down this route, it’s a trend we have seen emerge from other industries. South Korean electronics giant Samsung Group renewed its partnership with crypto shopping application Lolli earlier this month, providing opportunities for shoppers to earn reward points in Bitcoin when shopping for Samsung products.

Cryptocurrency is growing in popularity, and we are starting to see many online shops support them as a payment method across Australia. Previously we have also seen many Australian restaurants support cryptocurrencies as payment. With worldwide e-commerce sales also rising it has been also suggested we may see giants such as Paypal and Amazon enter the e-commerce space soon. And we also saw Mastercard announce Crypto Card Partner Program, Making it Easier for Consumers to Hold and Activate Cryptocurrencies.

This highlights the potentials of cryptocurrency becoming a legitimate form of value transfer.

Get Involved

If you’re looking to accept cryptocurrencies for your business we have a guide to help you set that up. And if you’re a customer looking to buy online with cryptocurrencies then checkout our Crypto Visa Cards review.