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Bitcoin Price Technical Analysis for 11/11/2016 – Resistance Turned Support

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Bitcoin price pulled back from its recent rally and is finding support at a former resistance level. SPONSORED ARTICLE:   Tech Analysis articles are sponsored by SimpleFX - Simple as Never Before, SimpleFX is a robust online trading provider, offering trading with Forex CFDs on Bitcoins, Litecoins, indices, precious metals and energy. Offers and trading conditions simple and transparent. Bitcoin Price Technical Analysis  Bitcoin price is currently testing an area of interest and might be due for a bounce. The broken resistance around $715 is holding as support for the time being. Technical inflection points are also lining up with this area of interest. Bitcoin price pulled back from its recent rally and is finding support at a former resistance level. Technical Indicators Signals The 100 SMA just crossed above the longer-term 200 SMA so the path of least resistance is to the upside. In addition these moving averages coincide with the former resistance a
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Bitcoin Price Watch; Here’s What’s On Tonight

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Here's a look at what we are focusing on in the bitcoin price this evening. SPONSORED ARTICLE:   Tech Analysis articles are sponsored by SimpleFX - Simple as Never Before, SimpleFX is a robust online trading provider, offering trading with Forex CFDs on Bitcoins, Litecoins, indices, precious metals and energy. Offers and trading conditions simple and transparent. Well that was an interesting one. In this morning’s analysis, we discussed what amounted to an unexpected response to the Trump election in the wider asset markets, and how we interpreted this response in the bitcoin price. Specifically, we noted that we expected the election to serve up some risk off sentiment, but that as things turned out, this risk off sentient didn’t really come about, and that – in turn – made any interpretation of the bitcoin price and its likely forward movement pretty difficult. We set up against the markets nonetheless, and looked to take advantage of the propensity to brea
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Bitcoin Price Watch; Playing The Unpredictable Response

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Here's a look at what we are focusing on in the bitcoin price this morning. SPONSORED ARTICLE:   Tech Analysis articles are sponsored by SimpleFX - Simple as Never Before, SimpleFX is a robust online trading provider, offering trading with Forex CFDs on Bitcoins, Litecoins, indices, precious metals and energy. Offers and trading conditions simple and transparent. In the immediate aftermath of the election in the US, global markets responded just as analysts expected in the event of a Trump win – they declined. Almost immediately, however, once the decline tapered off, we saw a recovery, and pretty much across the board, markets closed up or flat, or if down, only by a small amount, on the day’s open. This is a sign that sentiment may not be as adversely affected by what I guess we could call a pretty solid black swan event – not in this instance, at least. This, in turn, isn’t great for bitcoin. Many behind the scenes (and most out in front) were sort of hop
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Singapore Attracts Investments into the Country’s Fintech Sector

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Singapore is taking steps to promote the country's fintech ecosystem by easing regulations for investment in the sector. Read more... Increasing interest in blockchain technology based applications among banking and financial institutions has got governments and central banks across the world making special allowances for Fintech companies. Singapore is the latest country to consider offering special concessions targeted towards fintech companies. The deputy Prime Minister of Singapore, Tharman Shanmugaratnam has  announced  that the Central Bank of Singapore is looking into the possibility of easing regulations for Venture Capital investors starting next year. The relaxed regulations will be applicable for investments made towards fintech startups and businesses. Singapore is one of the leading financial hubs in Asia and the country intends to maintain its position by creating a prolific fintech ecosystem. The country’s policymakers have suggested the creation of
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OKLink Welcomes Indonesia’s DOKU As First Mobile Wallet Partner

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All of this is made possible due to the low credit card penetration in the country. Big things are taking place for Bitcoin in Indonesia. DOKU, the country’s leading e-wallet, has joined OKLink’s blockchain payout network. As a result, this collaboration will expand OKLink’s payment availability in Indonesia, allowing for faster global transfers. A significant step forward for the recently formed blockchain money transfer network. The partnership between  DOKU  and OKLink will offer a new payout option for real-time money transfers to Indonesia. Having the option of getting paid through a digital wallet brings more convenience to the table. After all, Indonesia is warming up to the concept of using  electronic money  as of late. To be more precise, electronic money is reaching a significant transaction milestone. At the end of 2015, a total of US$394m was transferred across the country in electronic form. Numbers for the year 2016 are expected to be even higher, as mo
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John McAfee Expresses Concern Over Mobile Bitcoin Wallet Security

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One thing people tend to forget is how we secure Bitcoin wallets on our mobile devices. Many cryptocurrency users store funds on their smartphone or other mobile devices. Wth a vast plethora of Bitcoin wallets to choose from, that seems to be the most logical and secure solution. But John McAfee feels otherwise, as he feels smartphone usage will leave Bitcoin in “chaos.” In his opinion, developers need to pay far more attention to security. The  statement  made by John McAfee will upset quite a few people, even though there is some truth to his words. Security is a critical part of any financial ecosystem, and Bitcoin is no exception. Although the protocol is secure, the devices we use to store and access funds are not. Computers and mobile devices are prone to hacking, malware attack, and user negligence. John McAfee Knows THe Security Business Like No Other McAfee strongly feels the lack of security provided by  mobile Bitcoin solutions  is troublesome. It all com
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India Suddenly Withdraws INR 500, 1000 Banknotes, Fails to Explore Crypto Option

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India withdraws INR 500 and INR 1000 denominations from the monetary system overnight. It is set in introduce new banknotes after successfully weeding out "black money'. In response to growing terrorist fundings, cash counterfieting and money laundering issues, India’s Prime Minister Narendra Modi yesterday announced that his government will be invalidating 500-, and 1,000-Rupee notes. The decision attracted praises, as well as criticism from the Indian masses. The lower and middle income class complained about the absence of forewarning, saying they are now left with worthless papers through which they cannot make their day-to-day purchases. The Reserve Bank of India (RBI), however, assured that it will dispatch the new curreny to banks by November 11th, available to be exchanged for old notes. The move has left many ATMs dry. As the government and the RBI strive to get the country’s monetary system back to normal, the sheer amount of work -including logistics
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