OMISEGO Price Prediction Today: Daily (OMG) Value Forecast – July 31

OmiseGo Confirms the Acquisition by Thailand Company to be “False”
  • Most of the range market moves of the OMG/USD have featured under the sell signal line of the SMA trading indicator.
  • Traders are enjoined to exercise some degree of caution while placing an order.

OMG/USD Medium-term Trend: Ranging

  • Distribution territories: $1.80, $2, $2.20
  • Accumulation territories: $1.20, $1, $0.80

OMG/USD market territories between $1.60 and $1.40 marks have dominated by a variant of choppy price movements. Most of the range market moves have featured under the sell signal line of the SMA trading indicator.

About a day and several hours until the present, the Bollinger Bands have shrunk into the choppy spots. Like wisely, the 50-day SMA trading indicator has joined with the Bollinger Band at the upper end of range market. The Stochastic Oscillators have moved closer to range 75 with their hairs conjoined to signify the intensity of the on-going range movements.

There has been no tangible move to suggest a clear-cut direction of this market. And that could linger on to the next trading session.

OMG/USD Short-term Trend: Ranging

The OMG/USD short-term trend has been witnessing a more intense ranging price moves. The intensity of the ranging market has spanned from yesterday’s session into the present market trading condition.

All the trading indicators are within the ranges, as earlier mentioned in the paragraph above. The Bollinger Lower Band and the 50-day SMA are joined together in the choppy regions. The Stochastic Oscillators have crossed downwards from range 80 to range 40. And, they now attempt to close the hairs.

It appears the OMG/USD bulls are struggling around the present choppy spots. Traders are enjoined to exercise some degree of caution while placing an order.

OmiseGo:

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

ZILLIQA Price Prediction Today: Daily (ZIL) Value Forecast – July 31

zilliqa

• The short and medium-term outlook is in a range-bound market.
• Patience is required trading the consolidation.

Supply zone: $0.02500, $0.02600, $0.027000
Demand zone: $0.01600, $0.01500, $0.014000

ZILUSD remains in consolidation in the medium-term. The bulls maintained the momentum within the range as markets opened today at $0.01083. The rally got price initially at $0.01156 and later $0.01168, above the upper supply area of the range but the candle closed within the range.

The exhaustion denoted by wick at the supply area imply takeover of the market by the bears as price drops to $0.01056.

Price is below the two EMAs and the stochastic oscillator points down at 52% suggesting downward momentum in price within the range in the medium-term.

ZILUSD is in consolidation and trading between $0.01150 in the upper supply area and at $0.009500 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

ZIL/USD short-term Trend: Ranging

The cryptocurrency is in consolidation in its short-term outlook. The bulls broke the upper supply area and pushed the coin to $0.01154 shortly after today’s opening at $0.01073. The bulls pushed price further high after a minor correction the retested the broken upper supply area.

Price is below the two EMAs at $0.010865 and the stochastic oscillator signal points down at 20% suggesting a downward movement in price within the range in the short-term.

$0.001100 is the upper supply area while $0.001000 is the lower demand area. A breakdown or breakout in price may occur, hence patience should be exercised before taking a position after retest.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

Bitcoin Places 11th In Chinese Monthly Crypto Innovation and Technology Ranking, EOS Remains #1

Bitcoin Places 11th In Chinese Monthly Crypto Innovation and Technology Ranking, EOS Remains #1

Bitcoin is certainly the most important and beloved cryptocurrency in the United States, but can we say the same about China? Probably not, according to a new ranking published by the CCID Research Institute, a Chinese institution which ranks cryptocurrencies each month.

In its latest ranking, which was published today, July 31, the institution decided to put Bitcoin in the 11th place in terms of technology and innovation among all the 37 tokens listed.

The ranking is part of an initiative created by the Chinese Ministry of Industry and Information Technology. Every month, a ranking is made to show which are the most innovative and important cryptos in the market.

All the 37 tokens are evaluated and some of their characteristics are taken into account and compared. The main points are innovation, technology and applicability. Using this, a total value index is created and the tokens are compared.

Bitcoin was only able to score 103 points using this system. Despite the bad ranking, the token is still 4 places up from where it was before.

The report does not bash BTC, however. It sees as slowly gathering some mainstream audience and being a unique investment with some relevant characteristics that make it very interesting.

EOS Is The Crypto King In China

Curiously, a token that is not really so popular in the U. S. has ranked first: EOS. The project was able to overcome all of its competitors by scoring a total of 153.1 points. Mimicking its market cap, Ethereum (ETH) was ranked in second with 148.6 points. Not a bad score.

Tron (TRX), created by the Chinese entrepreneur Justin Sun, was able to get the third place while NULS and GXchain ranked fourth and fifth.

This is a considerably different rank than we would see in the West. Several tokens which are not very popular are ranking well against the most famous crypto and several relevant tokens are not ranking so well, too.

Despite ranking well almost every month in the CCID’s rankings, EOS is often not so praised outside this circle. The token, which has a strong community, is often criticized by lacking decentralization and for being able to reverse transactions, something that is considered a huge sin in most of the crypto world.

In any case, it is very interesting to see the main differences between what is important to Western and Chinese audiences and see the stark contrast between these opinions.

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Author: Gabriel Machado

Blockchain Insurance Startup B3i Launches Its First R3 Corda-Based Product, Cat XoL

Blockchain Insurance Startup B3i Launches Its First R3 Corda-Based Product, Cat XoL

An insurance consortium called B3i has recently created its first blockchain product, which is based on the R3 Corda blockchain.

According to the press release, the new product will be called Property Catastrophe Excess of Loss Reinsurance. The product was being awaited for a long time as the company first announced that it was developing on top of Corda around a year ago.

Nicknamed as Cat XoL (because the official name is just too big), the product was created in order to increase the speed and diminish the costs of the transactions in the market. This way, the dealers, brokers and insurers would be able to make business in a more secure and efficient way.

According to the company, the new product is “the first of its kind” because it integrates the nodes of several actors and creates a structure that is more stable than the ones which are being used so far.

The team also affirms that the product makes the investors able to overcome some of the most time-consuming tasks and cut useless work. Also, the decentralization and immutability of the blockchain are used to create a network in which information can be shared in real-time in a secure and efficient way, which will drastically reduce any kind of operational risk.

Because of this, the expectation of the company is to be able to make lasting changes in the market and to upgrade it for its most efficient version. In order to create its product, B3i has been able to raise $22 million USD so far, according to its official filings.

The Chief Product Officer of B3i, Sylvain De Crom, affirmed that the Cat XoL app is the first blockchain offering of the company and the wider infrastructure that was created by the company until now. With this, he promised that the insurance market would become more seamless over time.

John Carolin, B3i’s CEO, called this a pivotal moment for the company and affirmed that CatXoL is one of its greatest creations.

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Author: Gabriel Machado

Crypto Banking Startup Bitwala Gets $14.5 Million USD Led by Sony Financial Ventures, NKB Group

Crypto Banking Startup Bitwala Gets $14.5 Million USD Led by Sony Financial Ventures, NKB Group

Bitwala, a Bitcoin bank based in Germany, has recently announced that it was able to get $13 million EUR during its most recent funding round.

The investments were led by Sony Financial Ventures, a Sony subsidiary, along with NKB GRoup and Global Brain.

According to the company, half of the money gathered was given by early investors Coparion and Earlybird Venture Capital.

What Is Bitwala?

The co-founder of Bitwala, a man named Jan Goslicki, affirmed that the reason to create this company was to connect Bitcoin to the more traditional financial world. This, he affirmed, is something that most people simply do not believe to be possible, especially because the German regulation is pretty strict.

However, he believes that the company is succeeding in creating this bridge between the innovative world of Bitcoin and the more traditional and established financial-banking market.

So far, the company already has clients on the 31 countries from the European Economic Area. All clients of the bank are able to get a Bitcoin wallet as soon as they start up their accounts without having to pay any special fee. Also, insurance covers up to $100,000 EUR of the clients in case something happens to the money.

The team affirmed that this money will be used mostly in an effort to get new clients and to expand the current number of employees. Another use of the money will be to create a new service in which the bank will offer BTC accounts for businesses.

At the moment, the bank only has accounts for retail clients. Its fast growth, however, is proving that other types of accounts will be important as well. The Chief Growth Officer of the company, Philipp Beer, has affirmed that the company is looking to grow in all sectors and to be a part of the future of finance in Europe.

Bitwala has been around for a while now and has reached a degree of success. In spite of this, the company was very negatively affected at the beginning of the year when several crypto debit cards backed by Visa ceased to function.

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Author: Gabriel Machado

Bitcoin Price Prediction Today: Daily (BTC) Value Forecast – July 31

Bitcoin Hits 15-Months High, $10,000 BTC/USD Exchange Rate Value is Next Stop
  • On the upside, if the bulls break above the EMAs, the crypto’s price will rise and retest the $13,000 price level.
  • The BTC price is trading at $10,100 as at the time of writing.

BTC/USD Medium-term Trend: Ranging

  • Resistance Levels: $10,000, $10, 200 ¸ $10,400
  • Support levels: $9,000, $8,800, $8, 600

Yesterday, July 30, the BTC price was in a bullish trend as it broke the 12-day EMA and it is approaching the 26-day EMA. The support level of $9,000 was tested as the bulls made an upward move and broke the 12-day EMA.

The BTC price is trading at $10,100 as at the time of writing. On the upside, if the bulls break above the EMAs, the crypto’s price will rise and retest the $13,000 price level. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

BTC/USD Short-term Trend: Bullish

On the 1-hour chart, the BTC price is in a bullish trend. The crypto’s price is making a series of higher highs and higher lows. The BTC price is expected to rise because it is above the 12-day EMA and 26-day EMA.

Meanwhile, the MACD line and the signal line are below the zero line which indicates is a buy signal. The BTC price has risen and it is facing resistance at the $10,100 price level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

Bitcoin’s price is $10,051.90 BTC/USD exchange rate today. The real-time BTC market cap of $179.42 Billion currently ranks #1 with a chart dominance at 64.73%, daily trading volume of $5.64 Billion and live coin value change of BTC 4.87 in the last 24 hours.

Today’s Latest Bitcoin Price Analysis, Chart Forecasts and Industry News

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \ Investment Disclaimer

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Author: Azeez Mustapha

Judge for QuadrigaCX Case Approves $1.6 Million in Fees to Be Paid in Retribution to Affected Firms

Judge for QuadrigaCX Case Approves $1.6 Million in Fees to Be Paid in Retribution to Affected Firms
  • A judge overseeing the QuadrigaCX case has approved payment to multiple firms.
  • Bankruptcy proceedings for QuadrigaCX are still ongoing.

In the long case of QuadrigaCX, there are many creditors and firms that have been seeking retribution from the now-defunct exchange.

In an effort to reconcile these funds, Nova Scotia Supreme Court Judge Darlene Jamieson approved over $1.6 million in fees to go to these affected firms. Jamieson also stated that the activities and fees taken on by:

  • Ernst & Young (EY)
  • Stikeman Elliot, the legal counsel for EY
  • Kirkland & Ellis, the American legal counsel for EY
  • Miller Thomson, the representative counsel
  • Cox & Palmer, the representative counsel

According to the judge, there’s been no opposition to the activities and fees. She stated,

“I approve the fees and activities of the monitor during the CCAA proceedings and the fees presented towards legal counsel.”

EY had a nearly impossible task of trying to recover the missing cryptocurrency and fiat holdings of QuadrigaCX, considering that it seemed to be dispersed to multiple third parties. Their work also included attempts to determine if Quadriga had the funds that it said, according to the judge. Jamieson added,

“The monitor’s work has been extensive in administering the CCAA proceeding and seeking to recover funds on behalf of Quadriga and its affected users.”

Ultimately, the judge explained that EY came up against “complicated factors,” like the lack of records on the accounts, and the way that QuadrigaCX stored their information with third parties.

This company marks the first cryptocurrency-based insolvency case in the country and has shown many unique traits that are unique to this type of case, which included “requiring specialized resources for the monitor’s investigation.”

The legal counsel for EY, along with EY itself, charged $1.3 million ($1.7 million CAD). The other representative counsel charged:

  • EY: $592,396.57 ($778,444.90 CAD)
  • Stikeman: $684,654.63 ($899,677.57 CAD)
  • Kirkland & Ellis: $14,367.27 ($18,876.44 CAD)
  • Miller Thomson: $302,720.47 ($397,793.00 CAD)
  • Cox & Palmer: $37,023.05 ($48,650.53 CAD)

Overall, to each of the companies, the judge approved $1,631,161.99 ($2,143,442.44 CAD) in costs. These payments will be drawn from the recovered funds of the creditor accounts, which contain about $25 million USD ($33 million CAD).

There is still $23.4 million USD ($31 million CAD) to be provided to the creditors in this case, though EY is working to gain another $9 million USD ($12 million CAD) in the sale of some of Gerald Cotten’s estate’s assets. Cotten, as many people remember, was the founder and CEO of QuadrigaCX.

Miller Thomson had been pushing for the claims process to begin for creditors. Former users of the platform have until August 31st to fill out a form, which will include their Quadriga account number, name, address, phone number, and the amount of crypto and fiat held in their account.

For former users that are unsure of what their holdings were before these proceedings can check https://userbalance.quadrigacxtrustee.com/, which was set up by EY. If the user disagrees with the amount shown, they will need to provide their own documentation to support the claim amount they intend to pursue. Miller Thomson’s website has guidance on how to do so.

The court proceedings involving QuadrigaCX have come up against so many roadblocks since January, when the late CEO’s wife filed for creditor protection. Cotten passed away in December and was believed to have taken his passwords to the firm’s exchange wallets with him.

Jennifer Robertson, Cotten’s widow, stated that there were 115,000 users that were owed about $190 million, but she said she was unable to access it, due to Cotten being the only one with information about the accounts’ private keys.

As the investigation continued, controversy and drama unfolded that Cotten may have taken the funds of his customers for personal use, which may have included margin trading. By March, EY stated that they were unable to find or even account for about $100 million in cryptocurrencies, even though Quadriga claimed to have held this amount.

EY quickly moved to put the exchange into bankruptcy, following filings for creditor protection, indicating that the Canadian crypto exchange was unlikely to bounce back. The motion was approved by Nova Scotia Supreme Court Judge Michael Wood, and the CCAA proceeding was paired with the bankruptcy efforts.

With the new ruling from Jamieson, the only proceedings still going on will be that of bankruptcy.

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Author: Krystle M

Bitfinex Starts Real-Time Liquidation Update As It Sets to Deliver Leverage of 100x

Bitfinex Starts Real-Time Liquidation Update As It Sets to Deliver Leverage of 100x

The crypto exchange Bitfinex has recently announced its Bitfinex Liquidation Feed on Twitter. The product, which is a real-time liquidation feature, is described as a new feature to improve the transparency of the leveraged positions on the platform.

This is a part of the company’s updates in order to roll out its new derivative product, which will be launched next week.

According to the company’s CTO, Paolo Ardoino, Bitfinex is finally moving forward with its plan of 100x leverage. He affirmed that high leverage is always accompanied by a very high risk, so having this new platform could be important in order to help the investors who are looking to be well-informed as they are looking for positions to take leverage.

Ardoino also affirmed that full transparency was one of the main goals of the company with the launch of the new derivatives market. This, he believes, will help to avoid any complaint from the users who will get on board in the near future.

Because of this, he plans to increase the transparency standards of all the aspects of the company to make investors are prepared as possible to use their money well.

The Relationship Between Leverage and Liquidation

When investing using leverage, the liquidation of assets is a very important statistic to watch out for. If the leverage used is up to 100x, then the need for being careful is even more important.

This is because Bitcoin and crypto trading is very automated. When there is a considerable crash, many automatic triggers liquidate positions, which causes a lot of volatility. This is why you need to be careful with liquidations.

They can act like a tidal wave that will sweep the market completely and may make you lose a lot of money if you use leverage and does not notice one of them coming.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Gabriel Machado

Russia’s S7 Airlines Ticketing Platform Processes Over $1 Million In Sales via Blockchain During July

Russia's S7 Airlines Ticketing Platform Processes Over $1 Million In Sales via Blockchain During July

The blockchain is here to bring us the future. S7 Airlines, a major aviation company that is a part of the Oneworld alliance, has recently revealed to the media that it was able to process $1 million USD in its new blockchain payment system during the month of July. This made July the best month of the platform so far.

S7 is the largest domestic airline company of Russia and it has been benefiting a lot from the new platform. S7 Airlines’ blockchain technology is powered by the Hyperledger Fabric platform, an open-source tech that is the basis of several blockchains at the moment.

Now, the goal is to deploy the first online agent of the company. This is set to be done sometime during 2019, according to Ekaterina Dmitruk, the group sales director.

The CEO of the company, Pavel Voronin, affirmed that the company was the first airline to execute the sale of a ticket using the blockchain last year and that the services got only better since then.

Since Its Start, The Platform Has Processed $4 Million In Payments

This new platform was officially launched back in January and each month is seeing more people using it. During these seven months, $4 million USD in transactions were processed using the system.

Part of the reason for the growth now is because of a partnership that was started with Alfa-Bank, a private bank from Russia. According to the executive director of the tech lab of S7 Airlines, Nikolai Mukhanov, not only the number of payments has been increased, but also how much of the process is automated today.

One of the main advantages of using the blockchain in this kind of operation is how much more efficient it gets. It considerably speeds up the process of handling the transactions, especially as no paperwork is required at all. This is very important for the B2B market as well, which is one of the most benefited by the decision.

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Author: Gabriel Machado

Scammers Attempt To Use The Prime Minister’s Name In Order To Dupe Investors In Singapore

Scammers Attempt To Use The Prime Minister’s Name In Order To Dupe Investors In Singapore

The Monetary Authority of Singapore (MAS), the most important regulator of the country, has recently discovered a new Bitcoin scam. This new scam is using fake claims from the country’s former Prime Minister in order to convince investors to give them their money.

According to the institution, this site invites the users to invest in Bitcoin using an article that is basically fake. The scam attributes fake claims to Goh Chok Tong, which acted as the Prime Minister of Singapore from 1990 to 2004. The regulator has affirmed that all the statements were either taken out of context or completely falsified by the scammers.

The site, named Bitcoin Loophole, presented an article in which the former Prime Minister would “reveal his method to become rich in 7 days”.

It was clearly a fake attempt, but some incautious investors could end up taking the bait because of the image of the Prime Minister. It’s just like those scams in which Elon Musk wants to give you Bitcoin but you gotta give him a few bucks to prove that you are “serious”.

The scam demanded that investors should deposit at least $250 USD on the trading platform to start. The idea was that the service used an automated trading service that would only make winning trades. This was, obviously, another fake claim.

Also, according to the Singapore authority, the scammers asked for credit card details and banking account of the victim, so there may be a secondary scam as part of the move.

This is not even the first time that Bitcoin Loophole tries to use the face of someone famous to dupe investors. Last month, the company used the face of the crown prince of Abu Dhabi in another scam on Facebook, which deleted the post.

Unfortunately, this is why you should be extremely cautious when dealing with this kind of company. Scammers are everywhere and they are ready to take your hard-earned money if you are not careful.

Remember to always avoid companies that promote unreasonable return on investments and to always check with the regulators whether a company is legitimate or not before you make any investment.

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Author: Gabriel Machado