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Michael Seitz, marketing manager at decentralized payment solution Dash, announced that the Dash Explorer will be updated to Insight on January 7th, 2020.

In a Dec. 4 blog post, Seitz explained that Dash has made the internal decision to update the current, which is based on the Abe application programming interface (API). the old API is reportedly “outdated and has limited functionality in comparison to the new and improved API, Insight.”

Insight is an open-source Dash blockchain explorer that will be used for writing web wallets and other apps that need more advanced blockchain queries. It provides users with a convenient way to read data from the Dash network so they can build their own services with it.

Seitz further explained that this planned update will affect all users, as the API change from Abe to Insight will create differences in the underlying software. Consequently, Dash recommends users upgrade their application to Insight API to ensure future compatibility.

Dash LatAm community ceases operations

Dash LatAm, an organization that promoted the adoption of the Dash cryptocurrency in Latin America, announced at the end of October the definitive closure of its operations in eight countries and 20 cities. Dash LatAm had previously been active in Colombia, Venezuela, Peru, Ecuador, Guatemala, Brazil, Spain and Trinidad and Tobago.

Executive director of Dash Latam George Donnelly said at the time that Dash Latam decided to close after it was left without funding, which led Donnelly to lay off approximately 80 staff members and cease operations.

Dash gets delisted from South Korean crypto exchanges 

Also in October, the cryptocurrency exchange OKEx Korea announced the end of Dash trading on its platform, together with other coins, due to regulatory concerns. OKEx Korea reportedly received a request to end transaction support and review Dash’s compliance with the ‘Travel Rules’ according to the Financial Action Task Force recommendations.

UPbit, the largest cryptocurrency exchange in South Korea by volume, had already delisted Dash in September due to money laundering concerns. UPbit reportedly said in a statement, “The decision to end trading support for the crypto-asset was also made to block the possibility of money laundering and inflow from external networks.”

Cointelegraph By Joeri Cant , 2019-12-04 23:23:00 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.

While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock

Nick Chong , 2019-11-10 12:00:38

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