Facebook Registers New Fintech Firm in Switzerland

Social media giant Facebook has apparently formed a new financial tech firm, Libra Networks LLC, according to a filing on the Geneva Commercial Register. Libra Networks was registered in Geneva on May 2 by Facebook Global Holdings II LLC. Per the official filing the firm provides: “…services in the fields of finance and technology, as well as the development and production of software and related infrastructure, in particular in connection with investment activities, the operation of payments, financing, identity management, data analysis, big data, blockchain and other technologies.” Facebook registered the…

Samsung News Bodes Well For Ethereum (ETH), Even Amid Price Crumble

Ethereum (ETH) fall 11.7 percent Samsung could introduce crypto and blockchain functionality in their budget phones In correction of mid-this week’s rapid expansion, Ethereum (ETH) is down 11.7 percent even as reports suggest that Samsung will roll out cryptocurrency and blockchain functionality in their budget phones. Ethereum Price Analysis Fundamentals Like all liquid assets, Ethereum (ETH) is nose diving. At the time of press, the second most valuable asset is down, falling 11.7 percent to $235. But, after days of impressive gains, surging 55 percent mid this week, a cool…

Bitcoin (BTC) Correction in Progress, Another $1,300 Drop Likely

Bitcoin (BTC) slide 10.9 Percent Bitstamp flag a large sell order that caused a market imbalance, over-pricing BTC Not surprising, Bitcoin (BTC) prices are under pressure, dropping 10.9 percent in the last day, at the time of writing. Analysts attribute this to a large sell order from Bitstamp that forced prices to fall as supply exceeded demand. Bitcoin Price Analysis Fundamentals In a day marked by chaos and investors jostling to liquidate Bitcoin (BTC) at market rates, the asset price dropped by $1,340. By sliding from intra-day highs of $7940…

Bitcoin (BTC) Price Weakens Below $7,500: Uptrend Still Intact

Bitcoin price formed a double top pattern near $8,330 and declined sharply against the US Dollar. The price broke the key supports near $8,000, $7,650 and $7,200 to test the $6,800 support area. This week’s followed bullish trend line was breached with support at $7,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price tested a crucial support area near $6,700-6,800 and bounced back above $7,100. Bitcoin price started a major downside correction below $8,000 against the US Dollar. BTC formed a double top pattern,…

Crypto Market Trims $30 Billion: Bitcoin Cash, BNB, EOS, TRX Price Analysis

The total crypto market cap corrected lower sharply from the $250.0B resistance area. Bitcoin price is down more than 10% and it recently broke the $7,500 support. EOS price declined heavily below the $6.40 and $6.20 support levels. Binance Coin (BNB) is down around 10% and it is currently trading near the $24.20 support. Bitcoin cash price fell more than 12% and it broke the $400 and $385 support levels. Tron (TRX) price nosedived more than 18% and broke the $0.0300 and $0.0280 supports. The crypto market cap corrected lower…

Ripple (XRP) Price Showing Signs of Weakness But Likely To Bounce Back

Ripple price failed to stay above the $0.4450 pivot level and declined below $0.4200 against the US dollar. The price is currently under pressure and it could test the $0.3740 or $0.3400 support. This week’s followed ascending channel was breached with support near $0.4365 on the hourly chart of the XRP/USD pair (data source from Kraken). There are several supports on the downside near $0.3800, $0.3740 and $0.3720. Ripple price trimmed most its recent gains against the US Dollar and bitcoin. XRP is currently below the $0.4200 support, but it…

Ethereum (ETH) Price In Corrective Decrease: $230 Support Holds Key

ETH price climbed further higher and tested $280 before correcting lower against the US Dollar. The price started a downside correction and traded below the $270 and $260 supports. There is a major bullish trend line forming with support near $252 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $230 support area to avoid an extended downside correction. Ethereum price climbed towards the $280 level before correcting lower versus the US Dollar and bitcoin. ETH is likely to find support near the…