Cryptocurrency Market Continues to Fall, Bitcoin Support Likely at $6,700

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. On previous reports, CCN emphasized that the price of bitcoin will likely fall to the higher end of the $6,000 region in the short-term. Over the past 24 hours, the bitcoin price has dropped by 2.5 percent, from $7,580 to $7,350, dipping below the $7,300 mark at one point. Lack of Momentum Throughout 2018, the bitcoin price has experienced three major corrections on February 7, April 10, and May 25. The initial correction that occurred on February…

Is the New EU Data Protection Regulation a Threat or an Incentive?

The General Data Protection Regulation (GDPR), a sweeping and stringent European Union (EU) wide legal framework for personal data privacy, became effective on May 25. Ready or not, this framework is going to drastically transform the business of any digital venture. The International Association of Privacy Professionals (IAPP) forecast that at least 75,000 privacy jobs will be created as a result, and that Fortune’s Global 500 companies will spend close to $8 bln in order to ensure they are compliant with the GDPR. But what does this mean for the blockchain?    The…

Bitcoin Price Weekly Analysis: Can BTC/USD Hold $7K?

Key Points Bitcoin price remained in a bearish zone above the $7,000 support against the US Dollar. There is a key declining channel forming with resistance at $7,600 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair has to stay above the $7,200 and $7,000 support levels to avoid a major downside break. Bitcoin price is trading well below the $7,600 pivot level against the US Dollar. If BTC/USD breaks the $7,000-7,200 support, there could be heavy declines. Bitcoin Price Decline This past week, there…

Ethereum Price Weekly Analysis: ETH/USD Approaching Crucial Break

Key Highlights ETH price settled below the $600 support level with negative signs against the US Dollar. There is a crucial contracting triangle forming with current support at $580 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair may well make the next move either above $600 or below $580 in the near term. Ethereum price is struggling to recover versus the US Dollar and Bitcoin. ETH/USD is now approaching a crucial break, possibly higher if buyers gain control. Ethereum Price Trend There were heavy losses in…

Bitcoin Cash Price Weekly Analysis: BCH/USD’s Downtrend Intact

Key Points Bitcoin cash price remained under pressure and declined below the $1,000 support against the US Dollar. There is a monster bearish trend line in place with resistance near $1,060 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The pair is likely to decline further and it could even break the last swing low of $948 in the near term. Bitcoin cash price is in a bearish trend below $1,080 against the US Dollar. BCH/USD remains at a risk of more declines towards the $920…