Tag: cryptocurrencies

Categories
Cryptocurrencies

What is Ripple? A Complete Guide to the Cryptocurrency

Ripple has undoubtedly made a ripple in the world of finance and the cryptocurrency community. From making headlines for alleged price manipulation to its unusual monetary policy, the currency has

Ripple has undoubtedly made a ripple in the world of finance and the cryptocurrency community. From making headlines for alleged price manipulation to its unusual monetary policy, the currency has

Ripple has undoubtedly made a ripple in the world of finance and the cryptocurrency community. From making headlines for alleged price manipulation to its unusual monetary policy, the currency has firmly made a mark in the finance world. 

Ripple Explained

The first thing to know is that Ripple is both a cryptocurrency and a digital payment and exchange platform. The ripple cryptocurrency – abbreviated as XRP, is the native currency of the Ripple platform.

Ripple is more recognized as a digital payment platform than for its cryptocurrency. Through its Ripple Network (RippleNet), the model circumvents the multiple intermediaries and high fees typical with traditional banking models. 

History of Ripple

XRP was founded in 2012 by Jed McCaleb and Chris Larsen. The model integrated the elements of an earlier payment system called OpenCoin that was designed by decentralization expert Ryan Fugger.

After its launch in 2012, it became the second-oldest crypto after Litecoin. As of October 2019, Ripple is the third-largest cryptocurrency by market cap – after Ethereum and Bitcoin.

Network Design and Security Model

The XRP ledger is to Ripple what blockchain is to, say, Bitcoin. The ledger is a decentralized and peer-to-peer network of servers that powers borderless payments across multiple banking systems across the world. XRP acts as a bridge between currencies, making it easy to exchange any currency for another.

The XRP ledger uses the Ripple Protocol Consensus Algorithm (RPCA) to verify transactions. This algorithm enables the numerous nodes on the network to decide by consensus which transactions will go through, and in what order. These confirmations take only four seconds.

Monetary Policy of XRP

The maximum supply of XRP is 100 billion. The coins were all pre-mined before issuance, and according to Ripple, no other coins can ever be created. 

20 billion coins were given to Ripple founders Chris Larsen, Arthur Britto, and Jed McCaleb. Another 20 billion has been sold to companies and individuals, 7 billion is held by Ripple. In 2017, Ripple placed 55 billion in an escrow account, releasing a billion XRP each month for the next 55 months. At the end of each selling period, all unbought coins will be returned to escrow accounts for issuance beyond the 55 months. To decrease XRP’s supply overtime and prevent its devaluation, Ripple destroys XRP coins after they have been used to facilitate transactions. 

XRP can be divided down into six decimal places, and the smallest unit is known as a drop. This means 1 million drops are equal to 1 XRP. 

Differences between XRP and Bitcoin

Being the native currency for the Ripple ecosystem, XRP significantly differs from other cryptocurrencies in several ways. And since Bitcoin is the pioneer and the most popular of all cryptos, it makes sense to juxtapose the two to understand XRP better. Here is how the two cryptos differ:

☑️Aim of Development: Bitcoin was created as a digital means of exchange, but without the central authority and control exercised over fiat currencies by banks and governments. By contrast, Ripple was created for the banking system as a payment settlement, remittance system, and currency exchange. The idea was to design a system for asset transfers that were quicker, cheaper, safer, and more transparent.

☑️Mining Rewards: Ripple is not designed to be mined, unlike Bitcoin. All 100 billion XRP coins were pre-mined before their release. Only 43 billion are in circulation as of October 2019. On the other hand, Bitcoin has to be mined before being released, and miners get mining rewards in the form of BTC coins. 

☑️Protocol: Bitcoin is enabled by a technology known as blockchain to verify and confirm transactions. XRP is powered by an independent, patented ledger known as Ripple Protocol Consensus Algorithm to process transactions. Also, Bitcoin uses a proof-of-work mechanism to validate transactions, while Ripple relies on a consensus protocol to do so.

☑️Transaction Speed: Bitcoin transactions take 10 minutes on average, while XRP transactions take an incredible 4 seconds.

☑️Approach to the Banking Establishment: Bitcoin and other cryptocurrencies are disruptive to the established monetary system, with the potential to replace it in the future. Conversely, Ripple is cozy with the established system, with its value proposition, in fact, relying on being adopted by banks as a payment and settlement network.

Where to Buy and Store XRP

You can buy Ripple at any of the popular cryptocurrency exchanges, including Coinbase, Bittrex, Kraken, Binance, and Changelly.

For those intending to hold the coin for the long term, it is recommended to store your currency in cold (offline) storage such as a hardware wallet because it’s much safer and invulnerable to hacking attempts. An example of such a wallet is the Ledger Nano S and CoolWallet S, both of which support XRP.

For more active and frequent traders, having a software wallet such as Ripple’s own wallet or Edge and Abra wallets is more appropriate. Also, bear in mind that to store your coins in a Ripple Wallet, you need to deposit a minimum of 20 XRP. 

Should You Invest in XRP? 

XRP offers a quicker way for banks to process transactions faster, which could streamline banks’ operations in a major way and benefit both sides massively. Therefore, the question of whether XRP is a good candidate for investment depends on whether more banks and other financial institutions will adopt it as their payment and settlement infrastructure. Since no one is sure whether Ripple will succeed in its vision, the future value of XRP remains highly speculative for now. 

In any case, there is no such thing as a safe investment, and each decision bears a risk. Therefore, it’s entirely up to you to decide. 

Conclusion 

Being one of the most talked-about cryptocurrency and with its current rank among cryptos, Ripple looks set to continue being dominant in the crypto space. However, its potential for increasing in value hinges very much on the attitude of the banking establishment, something the crypto community is watching keenly. 

 

Categories
Crypto Videos

The Best Way To Send & Receive Altcoins Through Multi-currency Wallets

https://youtu.be/V-NOeyfY8I0
How to send and receive altcoins through multicurrency wallets?
In order to send or receive a cryptocurrency, first, you need a cryptocurrency wallet that supports that cryptocurrency. Many

https://youtu.be/V-NOeyfY8I0
How to send and receive altcoins through multicurrency wallets?
In order to send or receive a cryptocurrency, first, you need a cryptocurrency wallet that supports that cryptocurrency. Many

How to send and receive altcoins through multicurrency wallets?

In order to send or receive a cryptocurrency, first, you need a cryptocurrency wallet that supports that cryptocurrency. Many wallets that support quite a few cryptocurrencies are currently on the market. The decision of which wallet to use comes down mostly to which cryptocurrencies the wallet supports. If more wallets support the wanted cryptocurrency, then the decision comes down to smaller features such as user interface, the option to reduce/increase transaction cost etc.

Sending and Receiving Cryptocurrencies

After deciding which wallet to use, all that’s needed is to put in the public address recipient when sending cryptocurrencies or to send out the address to the sender as a recipient. This can often be as easy as scanning a QR code and typing in the cryptocurrency amount.
Of course, the process of sending and receiving cryptocurrencies can differ slightly between wallets as each wallet has a different interface. However, there are a few general guidelines that are the same with all wallets:

Log into your wallet – Some wallets may have a 2FA (two-factor authentication), PIN code, phone verification or other kinds of security options enabled;
Go to the send/receive screen depending on whether you are sending or receiving cryptocurrency (that’s simply done by clicking the tab or button that says “send” or “receive”);
Choose whether you want to send or receive cryptocurrency. It is important to know that even though wallets can support many cryptocurrencies, each address is bound to one cryptocurrency (unless the coins are Ethereum tokens or a part of a similar ecosystem). This means that Bitcoin can only be sent to a Bitcoin address, Litecoin to Litecoin, XRP to XRP etc.
When sending: Enter the public wallet address (of the corresponding cryptocurrency) of the recipient and choose the amount that you want to send them. The specified amount should also include transaction fees. After double-checking and confirming that the address is correct (as a mistake cannot be undone after sending), click send and the transaction is done.
When receiving: Receiving cryptocurrencies is as simple as sharing the public wallet address (for the coin that will be sent) with the sender. It is even easier in person, as the sender can scan the QR code right from the recipient’s wallet.
Cryptocurrency transaction tips and tricks
Before sending a lot of cryptocurrencies, it’s good to try sending a small amount to the address as a test to make sure everything is working properly.

Sending and receiving cryptocurrency on/from exchanges might be a bit different than how simple wallets work. Sending between exchanges will require using the “withdraw” and “deposit” buttons on the exchange which will be located right next to the token. Each exchange has its own protocol which has to be followed. This means that directions must be followed carefully, as exchanges might require senders to include a message in the transaction or to send a whole number of the coin/token. They will also most likely require some form of transaction verification (2FA, email verification or phone verification).

Crypto-to-crypto exchange lets its users turn one cryptocurrency into another. Using a platform such as Shapeshift could be helpful if the transaction should happen in altcoins but all you currently have is Bitcoin.
You should not be afraid if the transaction does not appear on the recipient side instantly. Sending cryptocurrency may take some time for the transaction to go through (especially if the sender is sending from an exchange wallet, in which case it may take some time for the transaction to be included in a “transaction batch”). The sent transactions can be almost instant, but they could also take a few minutes or even hours (depending on the traffic). Most wallets, however, have the feature where users can see their pending transactions.

ERC20 tokens

ERC20 tokens are cryptocurrencies made on the Ethereum protocol and they are a bit different than other altcoins. These tokens are compatible with the Ethereum protocol as they follow the ERC20 guidelines. To send any ERC20 token to another wallet, the sender has to hold enough Ether to cover the transaction fees. Transaction fee depends on the complexity of the transaction. This fee is called Gas.
Other than the fact that each ERC20 wallet needs to have enough Ether to cover transaction fees, there is no other difference from the other altcoins wallets.

Conclusion

One big thing to point out when transacting cryptocurrencies is to never share private keys. Private keys should be differentiated from public keys and should never be seen by anyone other than the account owner. Sharing it would be the equivalent of sharing the wallet password with a stranger.

Categories
Crypto Market Analysis

Daily Crypto Review, Oct 23 – Stablecoins may be considered securities, crypto markets in the red today

The cryptocurrency market is in the red for the past 24 hours. Most of the day has passed by without any downside resistance whatsoever. There has not been any new

The cryptocurrency market is in the red for the past 24 hours. Most of the day has passed by without any downside resistance whatsoever. There has not been any new

The cryptocurrency market is in the red for the past 24 hours. Most of the day has passed by without any downside resistance whatsoever. There has not been any new money coming into the markets as volume seems to be a bit lower than average. However, the downward-facing moves were not weak, but rather steady and stable. The market is now trying to find a price level to consolidate. As for the top3 cryptocurrencies, Bitcoin went down 3.03%, while Ethereum lost 4.3% of its value and. XRP was down 3.01% in the past 24 hours. Out of the top50 cryptocurrencies, BAT performed the best with its gains reaching over 7.5%.

 


Bitcoin’s dominance increased a fraction of a percent when compared to yesterday’s value. It now sits at 66.5%, which represents a 0.01% increase from the previous day.

 

Most cryptocurrencies ended up being in the red in the past 24 hours. This, of course, slightly increased the value of the cryptocurrency market as a whole. The industry now has a market capitalization of $217.4 billion, which represents a $5 billion decrease from the previous day.

What happened in the past 24 hours

Cryptocurrencies have had both positive and negative news in the past 24 hours.

As reported by CoinDesk, Morgan Creek Digital managed to raise $60.9 million for its second blockchain venture capital fund. It seems that two pension funds invested $50 million into the project. This is more than double what they initially started with ($21 in the first blockchain fund).

The US Congress may consider a bill which would classify stablecoins as securities. This bill draft was published on Tuesday by Rep. Sylvia Garcia. The bill wants to regulate stablecoins under the Securities Act of 1933, seeking to provide clarity in an area the bill suggests lacks regulatory guidance.

Technical analysis

Bitcoin



Bitcoin has managed to break a bull flag downwards, making quite a bearish announcement to the market. If we take a look at the charts, the downtrend that started on Sep 30 ended up with a bull flag that broke upwards and increased in price right to the 161.8% of the downwards-facing move. After that, another similar downtrend started and we’ve come to the point when a bull flag was starting to rise. Everyone was expecting it to break upwards and Bitcoin to attempt to reach new highs (a 161.8% increase would mean a price of $9,440).

However, Bitcoin managed to fail the pattern and broke it downwards. Its price stabilized at just below $8,000.

Ethereum

Ethereum has lost over 4% of its value in the past 24 hours. It seems to be forming a falling wedge pattern on the daily chart. One more descending move is to be expected before Ethereum could attempt a price increase. However, if that does not happen, even a price of $110 is not excluded.


At the moment, Ethereum is sitting at $167, with a big support line being at $157. Its volume is at extremely low levels and RSI is approaching oversold territory.

XRP

XRP broke its ascending trend range and fell to $0.288. After creating a range that it moved in all the way from Sep 19 until now, XRP managed to break it downwards. It is now trying to recover and get back into the range, but the attempt has been unsuccessful so far.


XRP’s volume is average while its RSI is neither oversold nor overbought. It would take a significant increase in bull power in order for XRP to get back in its lane. If that does not happen, however, XRP has strong support sitting at $0.266.

Categories
Crypto Guides

What Is Market Capitalization? Top Cryptocurrencies With Highest Market Cap!

Introduction
Market capitalization is estimated for publicly traded companies in general to determine the value of that company. The value is calculated based on the total number of outstanding shares

Introduction
Market capitalization is estimated for publicly traded companies in general to determine the value of that company. The value is calculated based on the total number of outstanding shares

Introduction

Market capitalization is estimated for publicly traded companies in general to determine the value of that company. The value is calculated based on the total number of outstanding shares in the market multiplied by the individual share price. In simple words, the market cap is nothing but the market value of a publicly trading company.

Initial Public Offering (IPO)

Initial Public Offering or IPO’s are widely known. Companys which issue IPOs are publicly trading companies willing to raise capital for investing in the business to diversify and expand the company. When a company issues IPO, it agrees to sell a certain stake of the company to the public to raise the company. There are many successful IPO’s since 1602, when the first-ever IPO was recorded. Global companies like Amazon and Apple crossed one trillion-dollar in market cap, making them powerful than some smaller countries.

Initial Coin Offering (ICO)

Similar to IPOs, we have ICOs called Initial Coin offering with regards to cryptocurrencies. ICOs help crypto companies to raise funds that will be invested in creating a new coin, service, or dApps. These companies generally release a white paper detailing the aim of the ICO, minimum capital they intend to raise, and the basic design and properties of the product they are trying to create. Many investors plan to invest in ICOs to make quick bucks and earn tremendous profits. The result of some of the prominent ICOs promises the same.

Hence, the market cap of a cryptocurrency is determined by the number of outstanding coins in the market multiplied by the individual value of a coin.

Now, let’s look at the top 10 cryptocurrencies in terms of market capitalization.

  1. Bitcoin (Market Cap – $146.1 BN)

Bitcoin is the first-ever cryptocurrency, and it is obvious that this crypto tops the list in terms of market cap. The market cap of Bitcoin is $146,141,293,771, with the total number of coins in circulation being almost 18 million. As we all know, only 21 million Bitcoins can ever be mined.

  1. Ethereum (Market Cap – $19.1 BN)

Ethereum rightly earned its second place as it was developed to overcome the limitations of bitcoin, and it has become the second favorite amongst the investors. The market cap of Ethereum is around $19,191,075,792 with 108,182,195 coins in circulation.

  1. Ripple (Market Cap – $12.8 BN)

Ripples XRP takes third place with $12,833,995,058 as a market cap. The total number of coins in circulation is around 43,166,787,298. This crypto earned its credibility by gaining support from some of the most powerful centralized institutions like Federal Reserva.

  1. Tether (Market Cap – $4.1 BN)

Tether has been developed to be a stable coin, i.e., the price will always be maintained as one dollar. This coin has been developed to have the stability of fiat currency while having the key properties of cryptocurrency. The market cap of Tether is $4,121,497,986, with 4,108,044,456 coins being circulated in the market.

  1. Bitcoin Cash (Market Cap – $3.9 BN)

Bitcoin cash is created by forking the main Bitcoin platform. The market cap is around $3,956,035,700 with 18,061,950 number of coins in the market.

  1. Litecoin (Market Cap – $3.4 BN)

Litecoin is a spinoff of Bitcoin, thus earning the name of altcoin, which means alternate coin (to bitcoin). Around 63,484,804 Litecoins are currently circulating in the market.

Some of the other cryptos with high market cap include

Binance Coin (Market Cap – $2.8 BN)

EOS (Market Cap – $2.7 BN)

Bitcoin SV (Market Cap – $1.5 BN)

Stellar (Market Cap – $1.3 BN)

All the above information is as of 16th October 2019. For real-time figures, you can visit this website.

The adoption and usage of cryptocurrencies will only increase in the future as they are here to stay. At the peak of the bitcoin price in December 2017, the market cap of all the cryptocurrencies was around 125 billion dollars, and as of today, it is 221.3 billion dollars. Given the history, the market cap of all the cryptocurrencies can quickly reach a trillion dollars in the near future.

Categories
Crypto Videos

How To Identify A True Crypto Currency

https://youtu.be/mOliwz08XbY

What are the main attributes of a cryptocurrency?

With the Financial Crisis in 2008 knocking at the doors of world finance, an anonymous individual known by the name

https://youtu.be/mOliwz08XbY

What are the main attributes of a cryptocurrency?

With the Financial Crisis in 2008 knocking at the doors of world finance, an anonymous individual known by the name

What are the main attributes of a cryptocurrency?

With the Financial Crisis in 2008 knocking at the doors of world finance, an anonymous individual known by the name “Satoshi Nakamoto” invented the first cryptocurrency, Bitcoin. With the cryptocurrency came a publication of a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” Only a few people got interested in this life-changing event initially, but as time passed, more and more people realized how important this invention is. Many people could not even imagine a global decentralized monetary system.

Interest in Bitcoin and other cryptocurrencies skyrocketed in the past few years. However, many investors and supporters do not know what a true cryptocurrency should be, which caused a lot of new so-called cryptocurrencies to immerge. In order to truly believe in the cryptocurrencies and what they represent, it’s important to understand the fundamental aspects of both cryptocurrencies and blockchain technology.
Characteristics of an open blockchain
Andreas M. Antonopoulos, an author, speaker, educator, and one of the world’s Bitcoin and open blockchain experts, said that five characteristics that a truly open blockchain must be: Open, Public, Neutral, Censorship-resistant, Borderless.

A true cryptocurrency does not know about borders and does not discriminate. A transaction is a transaction, no matter who it comes from. It is irreversible and cannot be stopped or changed once the sending is over. It should be neutral, and it should be completely open. Its code should be free to be seen and used by anyone. One beautiful thing about cryptocurrencies is that they are constantly improved by its users, rather than the government or corporations.
Many companies tried to start their blockchain projects and created their cryptocurrencies. However, their systems are closed and governed by the makers rather than the users. These projects should be differentiated and separated from the true cryptocurrency projects which stand on a different side of the field, representing decentralization.
Cryptocurrencies that do not possess these characteristics are either centralized, non-immutable, influenced by a third-party, or a closed system. Therefore, they are not what a true cryptocurrency represents, but just use the hype created around the crypto and blockchain sector to gain fame and quick money.
Characteristics of a cryptocurrency
Besides the five major characteristics that a cryptocurrency must possess, it has to have these characteristics as well to be considered money.

Demand

The value of a cryptocurrency is directly related to its demand. Put simply, the greater the demand, the higher the value. Demand can be based on many traits that a cryptocurrency offers, but it has to also come naturally from real buyer’s interest.

Usability

Each cryptocurrency is made with a purpose. They can act as money or have some other utility. The more usable a cryptocurrency is, the more people will be interested in it. It is one thing to have demand based on profit expectations and a whole another thing to have people buying a cryptocurrency to use it.

Transferability

A cryptocurrency has to be fast and cheap to use, or it will not be accepted by the market. Many cryptocurrencies have built their entire project around them being fast, cheap, and safe. Another thing is also how fast a cryptocurrency can be exchanged for non-cryptocurrency money.

Ease of Acquisition

Cryptocurrencies are mainly acquired by mining, purchases, and through faucets and other reward systems. The easier it is to acquire a cryptocurrency and a lot of it, the less valuable it will be. However, price increases should not be considered a primary objective when investing in crypto, rather their usability and the market gap they are filling.

Community

As cryptocurrencies are open systems that build their value purely around the support of their users, the community behind it can greatly impact its growth. Having a powerful and big community behind the project gives it credibility.

Security

Cryptocurrencies are secured by the cryptography codes. Every owner should have their private key. Another thing to consider when looking for how safe a cryptocurrency is is its mining system. The more people mine it, the harder it is to perform network attacks. That’s why Bitcoin is still the safest cryptocurrency around.

Categories
Crypto Market Analysis

Daily Crypto Review, Oct 16 – Another Red Day in Play

The cryptocurrency market has been trying to recover and find a point of consolidation for some time now. While most cryptocurrencies ended up in green yesterday, that is not the

The cryptocurrency market has been trying to recover and find a point of consolidation for some time now. While most cryptocurrencies ended up in green yesterday, that is not the

The cryptocurrency market has been trying to recover and find a point of consolidation for some time now. While most cryptocurrencies ended up in green yesterday, that is not the case today. Bitcoin fell down 2.05%, while Ethereum lost 3.05% of its value. XRP held on a bit better and lost only 1.47%.  Bitcoin SV did the best out the top10 cryptocurrencies, being the only one in the green. It managed to gain 6.11% in the past 24 hours.

Bitcoin’s dominance hasn’t changed all that much from yesterday, but it did fall a few fractions of a percent. Its dominance now sits at 66.2%.

Most cryptocurrencies lost a few percents of their value, which reflected on the market cap of the cryptocurrency industry as a whole. The industry now has a market capitalization of $222.99 billion, which represents close to a $5 billion drop from yesterday.

What happened in the past 24 hours

A steady increase in volume and a green day for most cryptocurrencies indicated bulls rallying. Today, however, prices fell even with the volume keeping its level. The volume seems to have been coming from the bears instead of bulls today. Most cryptocurrencies tested their immediate support lines and broke them downwards, trying to reach a point of consolidation. While some cryptocurrencies only lost a fraction of a percentage, many lost a couple of percent of their valuation.

Technical analysis

Bitcoin

After a green day yesterday, Bitcoin seemed strong as it tried to establish a support line at $8,300 and even contest new highs. The bulls could not pass through $8,395, which is when bears seem to have taken over. With volume remaining at the same levels, Bitcoin started dropping down slowly until one big red candle, which brought its price from $8,326 all the way down to $8,078. This price got rejected quickly, and Bitcoin found its new short-term support at the $8,130 level.


Bitcoin’s RSI is currently not in overbought or oversold territory, but the current position does not look good. If the price goes under the support level, Bitcoin might have to look for new support at a level below $8,000.

Ethereum

Ethereum suffered from the same faith as Bitcoin today. After having a great day, the bulls lost momentum, and bears took over. Unlike Bitcoin, Ethereum had low volume levels throughout the week. After failing to break the $188 price point, Ethereum went down to $176. As with Bitcoin, this price got rejected, and Ethereum found support at the 0% Fib retracement line, which sits at $177.85.


Ethereum seems to have low volume levels apart from the sudden spikes in volume, which correct its price upwards or downwards. This fact might implicate that Ethereum has a high probability of mirroring Bitcoin’s movements in the short-term.

XRP

XRP lost the least out of the top-three cryptocurrencies today. This fact can mainly be attributed to its superb gains from the day before. With its volume looking good, yesterday’s move had to retrace a little in order for it to be a healthy move.


With XRP not having enough strength to pass $0.3, bears decided to take things into their own hands. The price dropped to $0.283 but quickly sprung up to $0.286, which now represents its immediate support. It is still uncertain whether XRP will try to push higher, consolidate or try its luck at a lower price point.

Categories
Crypto Guides

Bitcoin – The First Scalable Cryptocurrency Ever!

In the previous article, we have discussed the evolution and properties of cryptocurrencies. Now, let’s understand Bitcoin, which is the first scalable cryptocurrency.
Introduction
It has been around 11 years

In the previous article, we have discussed the evolution and properties of cryptocurrencies. Now, let’s understand Bitcoin, which is the first scalable cryptocurrency.
Introduction
It has been around 11 years

In the previous article, we have discussed the evolution and properties of cryptocurrencies. Now, let’s understand Bitcoin, which is the first scalable cryptocurrency.

Introduction

It has been around 11 years since Bitcoin has come into our lives. I am saying that because everyone who knows about bitcoin, at some point, would have wondered should they invest in it or not. Some have invested and gained so much from it. I’m sure you would have heard of the term Bitcoin millionaires. Of course, some have seen losses as well. Ever since the inception of Bitcoin, there is so much talk and hype about cryptocurrencies. Some governments have even made some changes to the existing laws to support cryptocurrencies. While some governments made laws against this digital currency. It all began with one crypto, Bitcoin. Hence, it is important for us to know the evolution of Bitcoin, which is still considered as a synonym of cryptocurrency.

How it all began?

It all began when a pseudonymous person called Satoshi Nakamoto released a whitepaper on October 31, 2008. The white paper described the blockchain technology and the Bitcoin cryptocurrency. When the technologists read the document, many thought it is ground-breaking technology and wanted to see it working in rea, while some wanted to explore the properties of blockchain other than cryptocurrencies. Nakamoto not only released the white paper but also mined the first block of the Bitcoin network in Jan 2009. Thus, he began the journey of Bitcoin.

The first-ever recorded transaction

The first recorded purchase transaction using Bitcoin happened in May 2010. Laszlo Hanyecz, a computer programmer,  paid 10,000 BTC for 2 Pizzas, and it was merely $25 back then. At today’s price of the bitcoin, the pizzas cost around $80 million. Cryptonizers celebrate that day as Bitcoin Pizza day to date.

Price history

In July 2010, the price of one Bitcoin was at $0.08. In February of 2011, the price came up to $1. Then it gradually started increasing as more and more people came to know of it and started investing. By June 2011, the price surged to $11. By April 2013, the bitcoin achieved a three-digit rate of $266. By November, the same year, it reached a four-digit figure of $1242.

Picture Credits – bitcoinwiki.org

From there on, there have been fluctuations depending on the demand and various rumors about the coin. In 2017 December, the price rose to $19,783.06, the highest ever. As of October 2019, the price of one Bitcoin is $8,300.

Birth of new coins from Bitcoin

Bitcoin Cash and Bitcoin Gold are two coins forked from the Bitcoin blockchain. These are some of the major altcoins (alternate coins) in today’s cryptocurrency market. Bitcoin inspired the birth of many other cryptocurrencies. We can say that these altcoins emerged only after Bitcoin proved the market potential. Ethereum, Litecoin, XRP are some of the examples.

Emergence of the cryptocurrency market

Cryptocurrency exchanges started their operations after the rise of new cryptos in the market. Bitcoinmarket.com is the first exchange ever. However, the exchange is defunct now. In July of the same year, Mt.Gox was launched as well. Around 2013 and in early 2014, nearly 75% of the Bitcoins transaction across the world happened through Mt.Gox. In 2014, they had to liquidate the funds because nearly 850,000 bitcoins were stolen from the exchange. This is the biggest disaster in Bitcoin history ever.

Bottom line

At present, everything in our life is getting digitalized. So why not the currency we use? Bitcoin is that new-age digital currency which has a massive potential to transform the currency space. It is not too much to say that it has achieved the same already. Let’s see what more wonders this crypto can create in the near future. Stay tuned for more exciting and engaging content. Cheers!

Categories
Crypto Market Analysis

Daily Crypto Review, Oct 03 – Slight advances on Decreasing Volume

Yesterday, cryptocurrencies moved sideways during the European and American sessions. Then, they advanced slightly during the Asian session.  Bitcoin gained +1.71%. ATOM /+7.38%), and LINK(+8.63%) experienced the more significant

Yesterday, cryptocurrencies moved sideways during the European and American sessions. Then, they advanced slightly during the Asian session.  Bitcoin gained +1.71%. ATOM /+7.38%), and LINK(+8.63%) experienced the more significant

Yesterday, cryptocurrencies moved sideways during the European and American sessions. Then, they advanced slightly during the Asian session.  Bitcoin gained +1.71%. ATOM /+7.38%), and LINK(+8.63%) experienced the more significant gains of the last 24 hours. Market cap is currently $221.85 billion (+0.59%), and the dominance of the Bitcoin is 68.25%.

fig 1- 24H market capitalization and Traded Volum

 

Fig 2- Heat Map of the crypto sector

What is Happening?

An exchange-traded product (EPT) combining Bitcoin and Ethereum has been made available on SIX, Switzerland’s Stock Exchange.  The product comes from a collaboration between Fintech firm Amun AF and Bitcoin Suisse AG, a Swiss cryptocurrency custodian. The EPT trades under the ticker symbol ABBA.  Source: The Block.

US Congressmen French Hill and Bill Foster are worried the Dollar is left behind for the rise in cryptocurrencies and issued an open letter to the Federal Reserve asking Jerome Powell to create a Digital Dollar. Source: dailyhodl.com.

The Indonesia government is hosting an eight-nation international conference on cryptocurrencies. The nations participating are Turkey, Singapore, Australia, Malaysia, Thailand, Russia, and Hong Kong. According to knowledged sources, Indonesia is hosting this conference with the aim of providing lawyers and enforcement agents with the knowledge needed to fight crypto-related crimes. Source: btcmanager.com.

BitPay will add support for Ripple (XRP) by the end of the year. Source: The Block.

Samsung-backed Blocko has launched in the UAE. In April 2018 the Dubai announced its Emirates Blockchain Strategy 2021, which aims to migrate 50% of its transactions to a blockchain platform. Blocko, in partnership with SEED Group, will be part of the effort to bring this plan to reality.  Source: coindesk.com.

Technical Analysis

 

Bitcoin

Bitcoin had modest advances during the last 24 hours. That said, the buying interest seems to be limited. Currently, the daily chart shows that the price has been encountering resistance in the 200-day MA (green). We see also that the volume is shrinking as the price advanced.

 

The 4H chart shows the price still moves in the upper side of the Bollinger band with the MACD in a bullish phase that gives a bit more weight to a short-term continuation to the upside. We see also that the 8,519 level is a fierce resistance level and that 8,200 has been holding the price lately. Therefore, these are the levels to watch. A Credible break of one od them will signal the future price direction.


Ethereum



Ethereum continues moving with a slight upward bias. The Bollinger mean line has been holding the price for some time. Currently, we see the price in the middle of the ascending channel, but what we see suggests the price is moving to retest the $185 resistance. A break below $177 will invalidate this scenario.

Ripple


Ripple still directionless after the large bullish candle. The price moves still in a band between 0.2468 and 0.257.  To be bullish, we need to see the price above the 0.253 level. A break of the 0.246 support will mean a possible visit to the 0.234 level and invalidate the bullish candlestick made on September 30.

 

 

Categories
Crypto Market Analysis

Daily Crypto Review, Oct 2 – Pullback Day or Dead Cat Bounce?

Yesterday, cryptocurrencies behaved as expected, retracing some of their Monday’s gains. Early morning losses continued. Bitcoin lost 2.47% over its 24-hour value. Most altcoins joined the movement such as Ethereum

Yesterday, cryptocurrencies behaved as expected, retracing some of their Monday’s gains. Early morning losses continued. Bitcoin lost 2.47% over its 24-hour value. Most altcoins joined the movement such as Ethereum

Yesterday, cryptocurrencies behaved as expected, retracing some of their Monday’s gains. Early morning losses continued. Bitcoin lost 2.47% over its 24-hour value. Most altcoins joined the movement such as Ethereum (4%), Ripple (-4.04%), Bitcoin Cash(-4.47%), EOS(-4.57%), Bitcoin SV(-6.15%)  and TRON (-5.61%).

The market cap descended to $218.5 billion, while the 24H volume was $26 billion, as seen in the figure below.

The current market dominance is as follows:

  • BTC:67.55%
  • ETH:8.62%
  • XRP:4.85%
  • BCH:1.82%
  • LTC:1.60%
  • EOS:1.24%
  • Others:15%

The Heat map here, shoes that, as usual, the whole sector moves with almost perfect correlation.

What happens

Ethereum-bases dApp FairWin has collapsed after the exposure of a vulnerability in its smart contract. Researches found the platform admins could drain the entire balance in the dApp easily, an $8 million worth of ETH stored in the platform. Researchers found $250,000 was stolen in a previous version. Source: Medium.com.

According to an article by condesk.com, major Libra backers Visa and Mastercard are re-thinking its participation in this digital project. Libra has been the trigger for regulators to start worrying for the irruption of digital assets and Libra has been opposed by European financial authorities saying Libra could destabilize the Euro, while the US Congress has demanded a complete halt on its development.

The Federal Reserve injects the USD worth the entire crypto market cap in days according to this article by beincrypto.com. The last one is said to add $162 billion to the total USD supply. US FED noted that it is a temporary measure.

Technical Analysis

Bitcoin


Bitcoin’s price has been losing ground after making a double top at $8,519. The MACD is dangerously approaching a bearish transition, while the price is currently sitting on the mean line of the Bollinger Band, at 8,200. That was our expectations yesterday. Thus, nothing to worry about unless weakness continues and the price keeps moving to the lower side of the Bollinger bands and challenge the $8,000 again.

Ethereum


Ethereum is moving in an ascending channel, a weak form of trending. Its price made a high at $185, then during the latest 4H candles has been retracing. At the moment of this writing, the price was held by the mid-line of the Bollinger Bands. MACD is also close to a bearish crossing. The figure created by the latest price action suggests the entire channel is a consolidation of the significant drop made on September 24. Short-term, if the price holds, we see a new test of the $185  high, although the price might go visiting the lower side of the channel.

Ripple



Ripple has retraced more than 50% of the large candlestick made on Sept. 30. Now the price is touching the upper border of the band where it had been ranging before that bullish candle. That may be a supply zone of people who wanted to go long that day but were late.  That means a bounce off of this level is likely. If that does not happen, then the bullish candle was just a trap for bulls, and the movement is negated.

Litecoin


Litecoin is starting to show signs of buying interest. The price has been held by the Bollinger mean line and now has headed up. MACD is bullish, also. The movement is still feeble, and $57 acts as a resistance level, so to confirm a bullish scenario we would like to ask for a close above that level.

 

Categories
Crypto Market Analysis

Daily Crypto Update, Oct 01 – Reversal Day!

Yesterday was a reversal day. Bitcoin went down from $8,054 to touch $7,701 to swiftly reverse its path and close above $8,300. Other cryptocurrencies followed. The heatmap

Yesterday was a reversal day. Bitcoin went down from $8,054 to touch $7,701 to swiftly reverse its path and close above $8,300. Other cryptocurrencies followed. The heatmap

Yesterday was a reversal day. Bitcoin went down from $8,054 to touch $7,701 to swiftly reverse its path and close above $8,300. Other cryptocurrencies followed. The heatmap here testifies the 24H advances, with Bitcoin, BCH, BSF, ETH, and XRP  up more than 7% over its previous session. Market capitalization went up to $224.8 billion with a traded volume of $33.4 Billion.

Fig- 1 Market Cap and Traded Volume

Fig 2 –  24-hour Heat Map

 

The News Front

Industry giants Coinbase, Bitrex, Kraken, Anchorage, and others join to form the Crypto Rating Council to qualify on how likely a coin is likely to be regulatory compliant and characterize tokens into currency, commodity, security or something else. The notable exception is Binance, which seems it has been excluded. Source: beincrypto.com.

SEC announced it had settled an agreement with Block.one the company behind EOS to settle the charges for raising billions in an ICO, back in 2017.  Block.one agreed to pay a “civil penalty” of $24 million. Source trustnodes.com.

Cardano is partnering with New Balance shoemaker to authenticate the company’s premium line of sports shoes. Cardano can produce blockchain.based data that consumers and stores can trust. Source: dailyhodl.com.

Bitpay achieves Service Organization Control (SOC2) compliance. That certification means BitPay is certified for confidentiality, security, privacy, processing integrity, and availability.  Source: cointelegraph.com.

 

Technical Analysis

Bitcoin


After creating a double bottom, yesterday bitcoin made a reversal day. The price made a kind of harami in the 4H chart and continue moving up to cross the Bollinger line mean and then the +1SD line. By crossing that line and then moving near the +1SD line, we should assume a new upward trend is initiated. MACD also confirms the bullish phase of the bitcoin.

Right now the price has bounced off of the $8,524 level, which touches the 200-day moving average on the daily chart. That means it is a tough resistance level to cross. If crossed, the price will need to fight the 8.800 level with is June’s 02 topping area. Right now BTC may need to consolidate near the Bollinger Mean line before continuing with the trend.

Ethereum


Ethereum has confirmed its bullish leg up by making another higher high and higher low. MACD and Bollinger bands are in agreement, obviously since indicators lag the price action. Currently, the price was rejected by the $185 resistance and is retracing some of the recent advances, as the price is overextended. We estimate that the price will retrace near its $177 support and, then continue its way up.  A breach of the $177 level ( on a closing basis) would imply less buying strength than anticipated.

Ripple


Ripple has made a sharp impulsive candle on strong volume, yesterday, and since then is making corrective candlesticks near the top of that range, the price hold by the 200-period MA. That is fine since this candle created a price overextension that now is being corrected. The MACD and Bollinger Bands confirm XRP has started a bullish trend, so buy the dip is the motto here. The chart shows the current key levels for this asset.

 

 

Categories
Crypto Market Analysis

Daily Crypto Update, Sept 30 – Bitcoin under $8,000 drives Crypto Assets Down!

Bitcoin breached the $8,000 early morning today, as the bearish sentiment keep persisting in the crypto sector. That lack of buyers is creating a pronounced bearish trend in the

Bitcoin breached the $8,000 early morning today, as the bearish sentiment keep persisting in the crypto sector. That lack of buyers is creating a pronounced bearish trend in the

Bitcoin breached the $8,000 early morning today, as the bearish sentiment keep persisting in the crypto sector. That lack of buyers is creating a pronounced bearish trend in the whole sector. This weekend, Bitcoin lost another 5% Bitcoin Cash(-5.55%), Binance Coin(-5.82%), Monero(-5.05%) and DASH(-6.2%) lead the loses.  The Market Capitalisation of the sector went further to $207.9 billion.

The heatmap below shows the price change of coins and tokens during the weekend.

The News Front

The Ukranian government is planning to legalize cryptocurrency. That is so according to a report published by an independent Ukranian news media. Currently, cryptocurrencies are not illegal in Ukraine. This step is a government move to regulate it and benefit via taxation. Source: The Block.

JP Morgan strategist Nikolaos Panigirtzoglou claims Bakkt’s launch of a physically-settled Bitcoin Futures contract was the reason for the Bitcoin 20% drop. Source: dailyhodl.com.

Denis Baykov has been fined the value of $7,000 by Russian authorities after mining bitcoin using a supercomputer able to petaflop speeds from an old Russian nuclear facility in Sarov, western Russia. Source beincripto.com.

Google has created a 50qbit computer able to execute in minutes what would have taken 20,000 yeats using a regular computer. Besides that, quantum computing is not a threat to crypto-assets, according to a news piece by bitcoinnews.com.

Technical analysis

 

Bitcoin


Today, bitcoin definitively broke the $8,000 support level and confirmed, also, the breach of the 200-day MA. On the daily chart, we see also the price has also broken the lower trendline of the descending wedge to the downside.

The next level to break is the $7,700 and, next, we could observe if the supply zone below $7,725 is able to hold prices and stop the downward evolution of the price, to, at least, experience a bounce.

 

Ethereum


Ethereum’s bounce ended, although the price has not broken the $166 support. We see the price moving slightly below the -1 Bollinger line, which means a downward pressure to prices. That, combined with the bitcoin weakness, makes us think ETH will continue descending to test $160 at least. But we can’t be surprised if $152 is reached in the coming days.

 

Ripple


Ripple seems to keep holding inside the range between 0.234 and 0.2468, besides the persistent BTC weakness. Today the price is losing 1% while bitcoin is -3.55% down. That shows there is some hidden buying power holding its price. The current sideways channel and technical indicators still show the price is in a downtrend, though. That and another BTC downward spike may force this token to break its support. The best course of action is to be in the sidelines while this is resolved.

 

Categories
Cryptocurrencies

Investing in an Early Stage of an ICO

Are projects (ICOs) worth looking at in early stages?

This article will show you that while investing, one does not have to follow the crowd in order to be successful.

Are projects (ICOs) worth looking at in early stages?

This article will show you that while investing, one does not have to follow the crowd in order to be successful.

Are projects (ICOs) worth looking at in the early stages?

This article will show you that while investing, one does not have to follow the crowd in order to be successful. During times where market timing is not in the best spot (with the whole crypto market going down) and people not wanting to diversify gains, as they rarely have any, people are scared of investing in ICOs. Most people just follow the crowd and the hype when it comes to ICOs. There are, however, many more factors that need to be included in the analysis. My previous articles have shown that an ICO needs to be looked at from many perspectives (token economics, team, social media, SEO part of the website…). But, what happens when an ICO is in the early stages?

Early-stage ICOs

Investing in the early stages of an ICO might be the way to acquire the best bonuses. But it is also a big risk, as there is usually not enough data for a conclusive analysis. So how do we determine if a project is worth investing in?

1. Project Idea – the most important thing with every ICO is the idea. It’s a problem they are trying to solve and the lifeline of their project. You can always judge the potential acceptance of the idea when it comes to ICOs, no matter how early it is in the project.

2. Team –it’s what makes the idea go from vision to reality. If we are looking at early-stage ICOs, this becomes even more important, as this is one of the few things we can just get it on. Both team and advisory board need to be impeccable.

3. Roadmap – Less value than the first, too, but is used to estimate the investment time frame.

4. Potential social media coverage – this part will probably be non-existent as the project is in the very early stages. However, some influencers might be on it as fast as you are.

5. The X factor – something that will intrigue other people. It is usually some part of the idea or their monetization plan.

What is important and noticeable here is: I didn’t list token economics or Hype/market traction anywhere. This is because we are looking at a potential gem project way too early for them to have these.

Conclusion

Early-stage ICOs are potential moneymakers and can bring you amazing returns. However, we are operating with insufficient data in the ICO analysis, so it brings a lot more risk. This means that compromising on any of the factors analyzed will cost people their investments. I would advise picking only the best of the best ICOs to invest in early on, or just keep an eye on them and wait for the data to present and the investment to be safer (and reliable).

Categories
Crypto Market Analysis

Today´s Crypto Events 08.08.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

 

Today´s Crypto Events 08.08.2018

 

  • Game.com (GTC) — Airdrop
  • Hshare (HSR) — Upgraded Mainnet Launch
  • AirSwap (AST) — Live Stream on Facebook
  • CoinFi (COFI) — Questions Submission for AMA
  • Mysterium (MYST) — Pre-Alpha Testing
  • Nebula AI (NBAI) — Bounty Campaign
  • ContentBox (BOX) — Bit-Z Exchange Listing
  • DAEX (DAX) — Bounty Campaign
  • Payfair (PFR) — CHAOEX Exchange Listing
  • Pundi X (NPXS) — Infrastructure Details Announcement
  • WeToken (WT) — Xiaomi Firmware Release
  • aXpire (AXP) — Upgrade to AXPR on KuCoin
  • Metaverse ETP (ETP) — Coinsuper Exchange Listing
  • True Chain TRUE True Chain (TRUE) — Coinlink Exchange Listing
  • Rate3 (RTE) — AMA with CEO
  • NAGA (NGC) — Q&A on YouTube
  • CanYaCoin (CAN) — AMA on Facebook
  • XYO Network (XYO) — AMA on Facebook
  • GoChain (GO) — AMA on YouTube
  • DeepBrain Chain (DBC) — AI Training Net Launch
Categories
Crypto Market Analysis

Today´s Crypto Events 07.08.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Crypto Events 07.08.2018

 

  • carVertical (CV) — Product Launch
  • Holo (HOT) — Meetup in Los Angeles
  • HYDRO Hydro (HYDRO) — Developer Meetup in New York
  • TenX (PAY) — Q&A on YouTube
  • Elastos (ELA) — Meetup in San Diego
  • Bezant (BZNT) — Bounty Campaign
  • Freyrchain (FREC) — CoinTong Exchange Listing
  • Chronologic (DAY) — LiveStream
  • Ethereum Classic (ETC) — Inbound Transfers Acceptance on Coinbase
  • Mass Vehicle Ledger (MVL) — CoinBene Exchange Listing
  • Particl (PART) — Announcement
  • PolicyPal Network (PAL) — Dobi Exchange Listing
Categories
Crypto Market Analysis

Today´s Crypto Events 06.08.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Crypto Events 06.08.2018

  • Holo (HOT) — AMA on YouTube
  • IXT (IXT) — Bitbns Exchange Listing
  • Komodo (KMD) — AMA on Reddit
  • Trade Token (TIO) — Q&A on Telegram
  • PolySwarm (NCT) — AMA on YouTube
  • Nullex (NLX) — Swap on Cryptopia
  • Waltonchain (WTC) — AMA on Telegram
  • Callisto Network (CLO) — AMA on Discord
  • Zilliqa (ZIL) — AMA with Community
  • KickCoin (KICK) — CoinBene Exchange Listing
Categories
Crypto Market Analysis

Today´s Crypto Events 03.08.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Crypto Events 03.08.2018

  • FidentiaX (FDX) — T-Shirt Design Contest Submission Deadline
  • Cashaa (CAS) — Blockchain Summit in Mumbai
  • Qtum (QTUM) — DISCON 2018 in Boulder
  • Leviar (XLC) — Knowledge Base Portal Launch
  • eosDAC (EOSDAC) — Cryptagio Exchange Listing
  • Red Pulse (RPX) — PHOENIX Asia Tour in Hong Kong
  • Transcodium (TNS) — New Site Template Launch
  • NBAI Nebula AI (NBAI) — AMA Session
  • Bytom (BTM) — Bibox Exchange Listing
  • The Abyss (ABYSS) — ChinaJoy in Shanghai
  • Nucleus Vision (NCASH) — IBC in Hyderabad
  • Banca (BANCA) — Community Testing Application Deadline
  • Polymath (POLY) — AMA on Reddit
  • Ontology (ONT) — AMA on Telegram
  • Consensus (SEN) — Mainnet Relaunch
  • NEO (NEO) — AMA on Reddit
  • IoTeX (IOTX) — AMA on Reddit
  • IOTA (MIOTA) — Upbit Exchange Listing
  • APR Coin (APR) — New Website Launch
  • Loopring (LRC) — AMA on Reddit
Categories
Crypto Market Analysis

Today´s Crypto Events 02.08.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Crypto Events 02.08.2018

  • PinkCoin (PINK) — Poloniex Exchange Delisting
  • FlorinCoin (FLO) — Poloniex Exchange Delisting
  • FoldingCoin (FLDC) — Poloniex Exchange Delisting
  • Vcash (XVC) — Poloniex Exchange Delisting
  • Bitcrystals (BCY) — Poloniex Exchange Delisting
  • Nexium (NXC) — Poloniex Exchange Delisting
  • Radium (RADS) — Poloniex Exchange Delisting
  • BlackCoin (BLK) — Poloniex Exchange Delisting
  • Riecoin (RIC) — Poloniex Exchange Delisting
  • Unify (UNIFY) — New Logo and Marketplace V2 Beta Release
  • Bigbom (BBO) — Form for AMA Opens
  • Cardano (ADA) — Roadmap Update
  • NEO (NEO) — AMA on Reddit
  • NEM (XEM) — Blockchain Summit in Melbourne
  • Hydro (HYDRO) — Fintech Week in New York
  • SophiaTX (SPHTX) — AMA with CEO
  • IOTA (MIOTA) — Meetup in New York
  • Qtum (QTUM) — Meetup in Berlin
Categories
Crypto Market Analysis

Today´s Crypto Events 01.08.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Crypto Events 01.08.2018

  • Graft (GRFT) — Supernode Alpha Release
  • Databits (DTB) — Augmentors Alpha Release
  • Pundi X (NPXS) — Meetup in Bogota
  • Steneum Coin (STN) — Referral Challenge Starts
  • Expanse (EXP) — Newsletter
  • TokenCard (TKN) — Q&A on Reddit
  • Golem (GNT) — AMA on Reddit
  • Asch (XAS) — Mainnet Upgrade
  • WaBi (WABI) — Q&A on Telegram
  • Odyssey (OCN) — Snapshot for Airdrop
  • Gifto (GTO) — AMA on Telegram
  • Veros (VRS) — Site Design Update
  • LoyalCoin (LYL) — Crypto Seminar
  • Titanium BAR (TBAR) — Private IaaS Beta Starts
  • Bitcoin Private (BTCP) — Community Update
  • Neblio (NEBL) — Hardfork for Testnet
  • Elastos (ELA) — Token Burning
  • Elastos (ELA) — Coin Release
  • PACcoin ($PAC) — PAClyfe Launch
  • TittieCoin (TTC) — Exrates Exchange Listing
  • Stratis (STRAT) — Breeze Privacy Protocol Mainnet Release
  • VeChain (VEN) — VTHO Airdrop to VET Holders on Binance
  • Ruff (RUFF) — Meetup in Seoul
Categories
Crypto Market Analysis

Today´s Crypto Events 31.07.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Crypto Events 31.07.2018

 

  • Everus (EVR) – Yottahash Launch
  • Zeepin (ZPT) – Mainnet Launch
  • Bitcoin Diamond (BCD) – Lightning Network
  • RChain (RHOC) – Testnet Launch
  • QLINK (QLC) – Testing Start
  • SyncFab (MFG) – Coin Burn 2
  • Electroneum (ETN) – Listing on Coinbene
  • Phantasma (SOUL) – Rebranding
  • The Cypherfunks (FUNK) – FUNK to SONIQ Conversion Ends
  • Loki (LOKI) – Hard Fork
  • OmiseGO (OMG) – Listing on BitPanda
  • Bitcoin (BTC) – Warsaw Fans Meetup
  • Emercoin (EMC) – New Wallet Release
  • Hacken (HKN) – Community AMA
  • NewYorkCoin (NYC) – Fintech Week
  • Patron (PAT) – Listing on Coinbene
  • Egretia (EGT) – Listing on CoinEx
  • Elastos (ELA) – Listing on LBank
  • Docademic (MTC) – Snapshot #3
Categories
Crypto Market Analysis

Daily crypto update 23.07.2018 – Sideway movements

The market is shown today mainly negative with 65% of the top 100 of the cryptos in red, some of them with two digits losses such as Bitcoin Diamond and Ardor. However, the BTC has been supported by good news about the ETF and also by the possible BlackRock investment in the currency and has left its lateralized momentum and it’s generating a positive market sentiment. The market capitalization compared to the previous Monday raised 19 Billion.

General overview

Market Cap: $286.644.683.222

24h Vol: $14.487.725.028

BTC Dominance: 46.1%

Top 100 Gainers of the day

Holo HOT                  49,37%
Electroneum ETN    17,55%
GXChain GXS            9,12%
Dropil DROP             8,31%
Bitcoin Gold BTG      7,49%

Top 100 Losers of the day

Bitcoin Diamond BCD -37,07%
Ardor ARDR                  -11,36%
Power Ledger POWR   -9,73%
PIVX PIVX                     -7,73%
TenX PAY                       -6,92%

News

Encrypted Email Provider ProtonMail Could be Planning an ICO
Cryptocurrency-friendly encrypted email provider ProtonMail appears to be planning an initial coin offering (ICO), a job posting has revealed. The Swiss firm, founded in 2014 by CERN researchers, has long supported cryptocurrency payments for its premium email and VPN services. Now, the company is hiring a blockchain developer for a project that may see the firm launch its own cryptocurrency.
Source: ccn.com

Chinese City Starts a $1.5 Billion Fund to Promote Public Blockchain Projects
Nanjing, Jiangsu’s capital, is committed to investing in public blockchain projects and overall token economy. The capital of this Chinese province put together a 10 billion yuan ($1.5 billion) fund in a blockchain investment fund.
A Beijing-based alliance, Zhongguancun Blockchain Industry Alliance, is teaming up with Nanjing City to launch this blockchain investment fund of $1.5 billion. The alliance, formed by government research institutes and blockchain companies, revealed the bold initiative at the first Industrial Public Chain Summit (IPCS). Among the high-level government official attendees, there was the Deputy Secretary of the Communist Party of China, Luo Qun.
Source: ccn.com

Cryptocurrency Fraud Now Second Most Common Investment Scam in Australia: Watchdog
Australia’s national consumer watchdog has warned that cryptocurrency trading scams have grown ‘significantly’ over a 12-month period and are now the second most-common kind of investment scam in the country.
An independent government authority tasked with the mandate of enforcing consumer protection laws with oversight into scam-related trends in Australia, the Australian Competition and Consumer Commission (ACCC)has a scam-alert domain dubbed ‘Scamwatch’.
Source: ccn.com

Analysis

EOS/USD

EOS is currently trading over the 100 EMA at $ 8.06 this EMA is offering immediate support to the price that has been moving in range during the weekend; if buyers pressure appears during the session and the price can cross this EMA, there is still a strong support at the central pivot point at $ 7.92.



Market sentiment

4-H chart technicals signal a Bearish sentiment.

Oscillators are showing mixed signals on the overbought zone.

Pivot points

R3 8.69
R2 8.46
R1 8.14
PP 7.92
S1 7.61
S2 7.38
S3 7.06

ETH/USD

ETH/USD is now moving below the EMA 100 in this 4h chart at $ 462.10 the price is moving in a narrow range since Saturday and it seems it will continue in the upcoming hours.



Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are in the overbought zone and pointing down.

Pivot points

R3 485.30
R2 478.65
R1 468.11
PP 461.46
S1 450.92
S2 444.27
S3 433.73

ADA/USD

Cardano reports today a negative -2.86% in the last 24 H, the price has bounced in the Pivot R1 and now is testing the central pivot point around $ 0.1701 if this level is crossed, we could see an extended movement towards the pivot S1 at $ 0.1604.



 

Market sentiment

4-H chart technicals signal a Bearish sentiment.

Oscillators are in the overbought zone, showing sell signals and pointing down.

Pivot points

R3 0.1974
R2 0.1886
R1 0.1789
PP 0.1702
S1 0.1604
S2 0.1517
S3 0.1419

Conclusion

There is not a clear trend movement to consider right now, the market is moving mainly sideways in most of the pairs.

Categories
Crypto Market Analysis

Today´s Crypto Events 19.07.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Crypto Events 19.07.2018

  • VeChain (VEN) — Distributed 2018 Conference in San Francisco
  • Augur (REP) — Distributed 2018 Conference in San Francisco
  • BAT Basic Attention Token (BAT) — Distributed 2018 Conference in San Francisco
  • Ripple (XRP) — Distributed 2018 Conference in San Francisco
  • AirSwap (AST) — Distributed 2018 Conference in San Francisco
  • Po.et (POE) — Distributed 2018 Conference in San Francisco
  • Qtum (QTUM) — Distributed 2018 Conference in San Francisco
  • Enigma (ENG) — Distributed 2018 Conference in San Francisco
  • ZCoin (XZC) — Distributed 2018 Conference in San Francisco
  • Leverj (LEV) — Distributed 2018 Conference in San Francisco
  • Genaro Network (GNX) — Distributed 2018 Conference in San Francisco
  • Maker (MKR) — Distributed 2018 Conference in San Francisco
  • ZenCash (ZEN) — Meetup in Los Angeles
  • Zilliqa (ZIL) — Meetup in Seoul
  • Stellar (XLM) — Blockchain Meetup in San Francisco
  • WeTrust (TRST) — AMA Session
  • Propy (PRO) — Meetup in Seoul
  • ZenCash (ZEN) — Super Nodes Launch
  • ColossusXT (COLX) — CryptalDash Exchange Listing
  • HempCoin (THC) — Coin Swap on Bittrex Exchange
  • Endor Protocol (EDR) — BitForex Exchange Listing
  • Bluzelle (BLZ) — AMA on Telegram
  • Silent Notary (SNTR) — DEx.top Exchange Listing
  • Docademic (MTC) — DEx.top Exchange Listing
  • Streamr DATAcoin (DATA) — StartupAutobahn Demo Day in Stuttgart
  • The Abyss (ABYSS) — Pre-Alpha Digital Distribution Platform Release
  • Civic (CVC) — Distributed 2018 Conference in San Francisco
  • Kyber Network (KNC) — DappCon in Berlin
Categories
Crypto Market Analysis

Today´s Crypto Events 17.07.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Crypto Events 17.07.2018

  • Maecenas (ART) — Art+Tech Summit in London
  • Trade Token (TIO) — Exchange Launch
  • WAX (WAX) — Beyond Blocks Summit in Seoul
  • Red Pulse (RPX) — Beyond Blocks Summit Seoul 2018
  • aelf (ELF) — Beyond Blocks Summit in Seoul
  • OAX (OAX) — Airdrop Starts
  • ICOS (ICOS) — Swap
  • Chronologic (DAY) — LiveStream
  • BTW Bitcoin White (BTW) — DAO Module Launch
Categories
Crypto Market Analysis

Today´s Crypto Events 16.07.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Crypto Events 16.07.2018

  • iXledger (IXT) — Insurance Product Launch
  • Sumokoin (SUMO) — Indodax Exchange Listing
  • aelf (ELF) — The Crypto Connection Party in Seoul
  • AidCoin (AID) — Airdrop
  • Digix Gold Token (DGX) — Kryptono Exchange Listing
  • CVCoin (CVCOIN) — HitBTC Exchange Listing
  • Hydrogen (HYDRO) — Trading Competition on BitMart Begins
  • Nexty (NTY) — AMA on YouTube
  • Electra (ECA) — AMA on Reddit
  • Monero (XMR) — Global Blockchain Congress in Johannesburg
  • Tether (USDT) — Crypto Symposium in Mykonos
  • SwissBorg (CHSB) — Crypto Symposium in Mykonos
  • Pylon Network (PYLNT) — Conference in Malaga
  • Bounty0x (BNTY) — Beta Launch
  • Electrify.Asia (ELEC) — Tribe Talk 01: Meetup in Seoul
  • LALA World (LALA) — Fiat Lending Launch
Categories
Crypto Market Analysis

Today´s Crypto Events 09.07.2018

Here you can find all the news about the upcoming hard fork, releases, exchange listings, updates, conferences, new launches, etc. We gather the most relevant events and conferences for you to pick from.

Today´s Crypto Events 09.07.2018

  • LBRY Credits (LBC) — Hard Fork
  • Rialto (XRL) — Trading Bot Launch
  • Havven (HAV) — Hack Summit Sponsorship
  • Wanchain (WAN) — Hack Summit Sponsorship
  • Stellar (XLM) — Hack Summit
  • Monero (XMR) — Hack Summit
  • Bancor (BNT) — Hack Summit
  • Zcash (ZEC) — Hack Summit
  • VeChain (VEN) — VeChainThor Mobile Wallet and X-Node Binding Service Launch
  • Monaco (MCO) — Pub Summit in Hong Kong
  • Nano (NANO) — Weekly Development Update
  • Effect.AI (EFX) — RISE Conference in Hong Kong
  • Augur (REP) — Mainnet Deployment and REP Migration
  • ClearPoll (POLL) — Website Pre-Launch
  • IHT Real Estate Protocol (IHT) — Allbit Exchange Listing
  • Bankex (BKX) — AMA on Facebook
  • Shopin (SHOP) — Token Swap
  • LALA World (LALA) — Wallet Launch
  • EOS (EOS) — London Fintech Week
  • Silent Notary (SNTR) — New Website Release
  • Universa (UTNP) — Innoprom 2018 in Ekaterinburg
Categories
Crypto Market Analysis

Daily Crypto Update 09.07.2018. –

The weekend’s rise in most of the currencies stopped today, Monday and the market made a small pullback.
The Total market capitalization couldn’t break over the $280 billion and pulled back to where its now at $273 Billion. The market remains under a big pressure during the last days and the expectations are in a big percentage waiting for a deeper setback in most of the currencies.

General Overview

Market Cap: $273.846.365.383

24h Vol: $11.597.597.522

BTC Dominance: 42.6%

A bullish shift in the charts will only be possible if Bitcoin could cross the $ 10.000 000 mark. The top 10 chart appears in red with the exception of Thether, which is positive by 0.12% in the last 24H.

Top 100 Gainers of the day

ERA ERA                      162.19%
United Bitcoin UBTC   49.84%
Sumokoin SUMO         42.47%
AirSwap AST                 34.24%
Wowbit WWB               33.03%

Top 100 Losers of the day

Quantum QAU             -48.02%
DecentBet DBET         -34.41%
StarCoin KST               -30.25%
DeviantCoin DEV       -26.92%
Noah Coin NOAH       -26.90%

News

Google Co-Founder Sergey Brin Reveals He Is Mining Ethereum
Co-founder of Google and President of Alphabet, Sergey Brin, revealed he is mining Ethereum with his son at a summit hosted by Sir Richard Branson on July 8. The panel also spoke on the potential of zero-knowledge proofs which underlie the privacy option of Zcash.
Source: newsbtc.com

Tokenizing Trading Fees With Mining Mechanism – Is It Good Or Bad For Exchange Platform Users?
ABCC is another exchange trying to reward users with AT and ToM. Today we are going to discover how a bitcoin-like mechanism and a principle of fixed number of tokens generated via half-life cycle with Simultaneous Release differentiate the new approach from others.
Source: newsbtc.com

Blockchain Platform For Creating Large Consumer Applications Aims At Exchange
New blockchain project Constellation Labs for “consumer grade” applications development announced the listing of its DAG token on KuCoin exchange, following the recent launch of their developer community Orion. Orion has an award system for participants and will be used for the testnet at the beginning of August.
Source: newsbtc.com

Analysis

XRP/USD

XRP/USD could not overcome the Bearish trend line nor the EMA-100 in this 4-hour chart bouncing its price in $0.4877 and it is stuck to the line during the whole day. The price is now close to the Pivot S1 in $0.4118 and if the bears can put more pressure the $0.4622 would be the next level to visit.




Market Sentiment

4-H chart technicals signal a sell sentiment.

Oscillators are showing sell signals and pointing down.

Pivot Points

R3 0.5001
R2 0.4943
R1 0.4863
PP 0.4805
S1 0.4725
S2 0.4668
S3 0.4588

LTC/USD

Litecoin has been moving in a wide range since the beginning of the month between $79-86 while the EMA-100 is still an important resistance to overcome. Today the price is indecisive and close to the pivot S1, if the price can break this support it could return to visit the $79.5 level.



 

Market Sentiment

4-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot Points

R3 88.3314
R2 86.9806
R1 84.5891
PP 83.2383
S1 80.8468
S2 79.4960
S3 77.1045

EOS/USD

EOS is having a big drop right now as EOS New York reports. Today a BPs crash and the internal problems in the EOS network and disputes inside the community members may affect the price. Also, some block producers crashed because prices in RAM for EOS increased more than 600% in the last days. We could see pronounced sales in the short term.



 

Market Sentiment

4-H chart technicals signal a Strongly Bullish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot Points

R3 9.22
R2 9.11
R1 8.90
PP 8.78
S1 8.57
S2 8.46
S3 8.24

 Conclusion

My expectation in the short term is a pronounced sale in most of the cryptos for the first days of this week before seeing recovery signs.

Categories
Crypto Market Analysis

Blockchain or Cryptocurrency?

Blockchain and Cryptocurrency
Technology advancements have brought us many amazing things. One of them is Blockchain along with Cryptocurrencies. However, there is quite a big debate in this field. It’s

Blockchain and Cryptocurrency
Technology advancements have brought us many amazing things. One of them is Blockchain along with Cryptocurrencies. However, there is quite a big debate in this field. It’s

Blockchain and Cryptocurrency

Technology advancements have brought us many amazing things. One of them is Blockchain along with Cryptocurrencies. However, there is quite a big debate in this field. It’s regarding the importance of Cryptocurrencies in the world, while no one disputes the importance of Blockchain. One side of the debate says that Cryptocurrencies ARE Blockchain and that the two can’t be separated, while the other hand says that Blockchain is a great invention, while Cryptocurrencies are not here to stay. Before analysing the subject, we have to know what the definitions of both Blockchain and Cryptocurrencies are.

Blockchain vs Crypto

A Blockchain is merely a chain of blocks, while Cryptocurrencies are currencies built on Blockchain that serve a particular purpose they are made for. When Bitcoin was the only Blockchain, no one tried to separate or differentiate the two. However, once more Cryptocurrencies started to emerge, people saw the distinction. But, can one work without the other?

Blockchain vs Crypto

Cryptocurrencies work on the Blockchain, which serves as a distributed ledger. That way, it forms a network. Cryptocurrencies are nothing more than tokens that value the utility that the protocol presents. That way, Blockchain and Cryptocurrency work hand in hand, and should not be thought about as separate entities.

A distorted view of Blockchain

You can hear “Blockchain is revolutionary, but Cryptocurrencies are meh” from many people nowadays. However, that is an extremely distorted way of looking at things. The reason for that is the actual devaluation of Cryptocurrencies as the “driver” of the blockchain “vehicle”. There are tokenless Blockchains, but they are far from perfect. On the other hand, Cryptocurrencies have the potential to reach their true purpose of fully decentralising an operation, valuing it at the same time, and doing it healthily and without any artificial aid.

Cryptocurrency vs Blockchain

Future of Blockchain without crypto

Many companies are trying to approach the Blockchain integration without actually considering Cryptocurrencies. Anything can, of course, happen, but Blockchain without Cryptocurrencies most likely won’t. The symbiosis between the two is too great and too valuable to pass on.

Cryptocurrencies are here to stay, and so is Blockchain. The actual Cryptocurrencies we have today might not survive, but the concept will.

Categories
Crypto Market Analysis

Daily Crypto Update 02.07.2018 – Is The Reversal Here?

The crypto currencies market has received 16 billion in a few hours which has generated a large increase in most of the top 100 cryptos and it seems a possible a reversal in the trend. We have to be careful and expect the week to evolve before taking determinations since the overbought is present in the charts and most likely we will see a strong drop as well.

 General Overview

Market Cap: $267.609.425.759

24h Vol: $14.357.089.584

BTC Dominance: 42.1%

The market is green in most cryptocurrencies with two-digit gains in many of them.

 

Crypto currencies market

 

Top Gainers of the day

1. Dragon Coins DRG  83.97%
2. Bitmark          BTM  69.34%
3. Alphacat        ACAT 63.01%
4. Metronome   MET  43.72%
5. NaPoleonX   NPX    37.91%

Top Losers of the day

1. Pure               PURE -32.86%
2. Selfkey          KEY    -29.27%
3. Aditus           ADI     -23.95%
4. WINCOIN    WC     -18.67%
5. Naviaddress NAVI -17.20%

News

Bitcoin and Ether Surge 6% as Crypto Market Adds $15 Billion in 2 Hours
In the past 2 hours, Bitcoin and Ether, the native cryptocurrency of Ethereum, recorded a 5 per cent increase in value supported by a sudden spike in volume. Within merely hours, the volume of Bitcoin surged by over $1 billion while the volume of Ether increased by nearly 20per cent.
Source: ccn.com

Coinbase Custody Officially Launches for Institutional Investors
Today Coinbase announced that it has officially opened up Coinbase Custody for institutional investors. The announcement, written by Sam McIngvale, product lead at Coinbase Custody, stated that Coinbase Custody accepted its first deposit last week before its official launch today.
Source: ccn.com

Kraken Strikes Back at Tether Price Manipulation Claims
Cryptocurrency exchange Kraken is calling foul on allegations that its tether (USDT) markets are frequently characterised by trading activity commonly associated with wash trading and other forms of market manipulation.
Source: ccn.com

Former ‘Big Three’ Chinese Giant BTCC Relaunches Cryptocurrency Exchange
After shuttering its doors nine months ago, the world’s oldest cryptocurrency exchange is relaunching its exchange platform for business and has revealed its plan to launch its own token in the future. BTCC on Monday announced the launch of its revamped exchange with support for crypto-to-fiat and crypto-only trading pairs including Bitcoin, Bitcoin cash, Litecoin and Ethereum.
Source: ccn.com

Analysis

BTC/USD

The price of the BTC has been showing a considerable rise in the last hours even crossing the resistance of $6563.


It is not yet known what could have caused this new rise but there is something clear and it is that last week the price was affected in a very positive way for the closing of the next futures contracts, the day this happened the price immediately rushed up. Tether also printed an additional 250 million USDT and the market felt the effects of this. After strongly breaking up the level of $6,250, BTC now looks more bullish.

Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are in overbought zone pointing up.

Pivot points

R3 6604.24
R2 6516.95
R1 6432.72
PP 6345.42
S1 6261.19
S2 6173.90
S3 6089.67

ETH/USD

ETH is raising up considerably today, testing the upper part of the channel on this 4-H chart. The price made a big jump from the central Pivot Point and a breakout of this line could quickly send the price to $500, however, the EMA-200 is a strong resistance to consider at $471 where the price is sitting right now.



Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are in overbought zone pointing up.

Pivot points R3 6604.24

R3 469.58
R2 463.14
R1 457.54
PP 451.10
S1 445.49
S2 439.06
S3 433.45

XRP/USD

XRP raises 6.75% in the last 24 hours while the market continues in green behind the new Bitcoin rise that drags the other cryptocurrencies along positively. In this rise, the price has broken the central pivot point and also the pivots R1 and R2. At this moment the price is moving at $0.4914 but the indicators are still pointing upwards very close to the oversold area. The EMA-200 could be a strong resistance for the price.



Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are in overbought zone pointing up.

Pivot points R3 6604.24

R3 0.4901
R2 0.4798
R1 0.4706
PP 0.4604
S1 0.4512
S2 0.4409
S3 0.4317

ADA/USD

ADA has increased its price by 34.5% since June 29th in a very interesting rally, also helped by the price increase of BTC by 4.66% today.



The price has crossed the EMA-100 and pivots R1 and R2 in this 4-H chart, although the indicators are already showing high overbought levels so we could see the entry of sellers in the short term.

Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are in overbought zone pointing up.

Pivot points R3 6604.24

R3 0.1654
R2 0.1564
R1 0.1491
PP 0.1401
S1 0.1328
S2 0.1238
S3 0.1165

Conclusion

Crypto currencies market: BTC continues moving the market up and down, to consider a reverse on the trend the price still needs to go higher over $8.000 because the pressure remains on the downside, while this happens there is still at risk for deeper setbacks.

Categories
Crypto Market Analysis

Weekly Crypto Update 29.06.2018 – The Red Spot

I was thinking there could be a quiet end of this week but the market wants a different thing, yesterday it started a new sell-off in all the charts. During last week, the prices of the main top ten cryptos were moving in narrow ranges and without definition after BTC touched a maximum of $6,319 on Monday 25th and a few hours ago, was very close to the annual minimums touching the $5,790.

General Overview

Market Cap: $234.606.528.197

24h Vol: $12.030.491.219

BTC Dominance: 43.1%

Overall market cap dropped from a weekly high of $ 261,218 Billion to a low today Friday of $ 232,631 Billion and Bitcoin’s dominance has gone up to 43.1% for the first time since April 12.

The important support for the BTC price of $6,000 was lost. The fear in the market is that most of the cryptos will follow the drop of the mother of coins and the result would be a disaster for all cryptocurrencies because we are facing a real possibility to see a minimum of the BTC close to $3,000.

Top Gainers of the week

  1. Selfkey       KEY   90.64%
  2. SPINDLE SPD   90.10%
  3. Paragon    PRG  43.27%
  4. FuturXe   FXE   40.00%

Top Losers of the week

  1. BigONE Token Big -52.59%
  2. PeepCoin PCN -44.25%
  3. CVCoin CVCOIN -31.48%
  4. BioCoin BIO -29.90%

News

There was no remarkable news that could have moved the market considerably. Here is a summary of the most important news items of the week.

The GBTC and Kimchi Premiums are Disappearing Again
Here in late June 2018, the GBTC premium and the South Korean “Kimchi” premium are quickly disappearing. This has historically been a bullish sign that has signalled the end stages of a bear market. It was very close to the last bottom that time; almost the literal bottom of the last cycle on April 9th, 2018

The Bank of International Settlements (BIS) Publishes Negative Report on Crypto
Click to read `The Bank of International Settlements (BIS) Publishes Negative Report on Crypto`
The Bank of International Settlements (BIS) published a mostly negative report on crypto called “Cryptocurrencies: looking beyond the hype.” The report criticises much of crypto while noting the potential importance of the underlying technology.

Crypto Search Trends are Trending up Again!
Crypto search trends are finally trending up again after a “search term correction” started in the winter as crypto prices started to drop. Although it is too early to say for sure, this is potentially a very bullish sign when considered alongside the price and volume data.

Bitcoin Poses Danger to U.S. Elections, Researcher Tells Congress
For a significant part of 2017 and even this year, social media platforms have taken a lot of heat over their alleged role in influencing the 2016 U.S. presidential election. And for a period of time on Tuesday during a congressional hearing, cryptocurrencies were put in the same spot — at least with regards to the future.

Bithumb Has Recovered Nearly Half of Funds Stolen in Last Week’s Hack
Cryptocurrency exchange Bithumb claims that it has recovered nearly half of the funds stolen in a recent high-profile hack at the South Korean trading platform.

South Korea Reveals New [Positive] Crypto Regulatory Guidelines
Financial Services Commission (FSC), the main financial agency of South Korea, has revealed a new crypto regulatory framework and guidelines pertaining to anti-money laundering (AML) and Know Your Customer (KYC) requirements for crypto exchanges.

Analysis

BTC/USD

BTC opened on Monday at $6,160 and touched a high at $6,319, but since then it has been falling slowly during the week, at this moment it is accumulating losses of -5.6% on the week. At the beginning of the trade session, the price reached the annual minimum at $5,838 and at this time it is negotiated at $5,880.


As we mentioned in our crypto analysis yesterday, the level to beat for the bears was $6000 this important support was crossed and if the bears continue to put pressure on the market, the result would be a complete red spot all around the charts with BTC looking for lower levels towards $3,000.

Market sentiment

4-H chart technicals signal a Bullish sentiment.

Oscillators are in oversold zone pointing up.

Pivot points
R3 6405.93
R2 6283.95
R1 6067.61
PP 5945.64
S1 5729.29
S2 5607.32
S3 5390.98

ETH/USD

ETH has lost 9.32% Since opening on Monday and looses 28.5% in June. The bearish trend continues as the bears are putting lower minimums in the chart.


The price is trying to cross the Pivot S1 at $410 and received some difficulty there. It is now sitting around $411 and continues to move down into the bearish channel on this 4-H chart. A breakout of Pivot S1 will probably send the price to the Pivot S2, the important level of $400.

Market sentiment

ETH 4-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 463.08
R2 453.26
R1 436.81
PP 427.00
S1 410.54
S2 400.73
S3 384.27

LTC/USD

LTC has lost 8.88% Since Monday’s opening and made big loses of 88.4% in June. The price crossed down the triangle chart pattern in $76.47, exactly at the convergence point with the Central Pivot Point and is now sitting at $73.51, an important support to break. The downward trend of the market continues and there are no positive fundamentals that can turn it back, a red weekend is expected for the market.


Market sentiment

LTC 4H chart is showing strongly bearish.

Oscillators are on oversold zone and indicators neutral (Low volatility).

Pivot points

R3 86.1598
R2 83.7105
R1 78.9434
PP 76.4941
S1 71.7270
S2 69.2777
S3 64.5106

Conclusion

The market is making strong short movements that bring new lows in most of the cryptos. The question here is, will the market take a break and recover a little to go down again or this is a confirmed trip to $3.000 in BTC that will drag the others to the ground?

Categories
Crypto Market Analysis

Daily Crypto Update 27.06.2018

The Crypto Market starts the second day in red this week with only 5 of the top ten cryptos in positive, QTUM, Bitcoin Diamond, Cortex, Emercoin and Monaco. There is no concrete explanation of what is happening with the market and Bitcoin is trading around $6,170 at the moment of this publication, losing -2.58% over the last 24-hours

 

General Overview

Market Cap: $243.263.694.472

24h Vol: $10.798.007.593

BTC Dominance: 42.7%

There is a bearish dominance all around the charts but with low volume. The market has lost 8 Billion in just 1 day, what is showing is a dark perspective for the coming session.

News

Interest in Bitcoin Set to Double in Europe, New Survey Suggests
People hear and know more about cryptocurrencies with every passing day, and according to a new survey, interest in Bitcoin is expected to increase twofold in Europe.

Crypto Exchange Resumes Trading in India Despite Problems with Banks and RBI
Cryptocurrency exchange Belfrics has resumed trading operations in India after halting earlier this year due to banks refusing to provide payments solutions to the exchange.

Meet Three More Applications That Utilize Bitcoin Cash OP_Codes
Over the past month or so since the most recent Bitcoin Cash (BCH) network upgrade, a lot of developers have created platforms and extensions that utilise the re-enabled Satoshi OP_Codes.

If You Can’t Beat Them, Join Them – Bitcoin Is Hiring Regulators
While everyone is looking for an indication that institutional money is about to flood into bitcoin and revive the market, we just got another confirmation that crypto has indeed entered the big leagues.

Source: news.bitcoin.com

Analysis

Bitcoin is trading around $6,170 at the moment of this publication, losing -2.58% over the last 24-hours. The pair easily crossed the central pivot point in this 1H chart and is now again dangerously close to the $ 6000 level; if this level is crossed the pair could be looking again for the yearly minimums around $ 5.781



Market sentiment

1-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 6442.78
R2 6357.63
R1 6213.87
PP 6128.72
S1 5984.96
S2 5899.81
S3 5756.04

LTC/USD

Litecoin price has lost -7.54% in the last 24H and is now moving around $75.56 and again, in two days, very close to the year low around $73.62. This price can be the support to beat for the bears and if a breakout happens here the drop can easily move the price to $65.


Market sentiment

4-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 87.5511
R2 85.0221
R1 80.4131
PP 77.8841
S1 73.2751
S2 70.7460
S3 66.1371

XRP/USD

XRP has lost -5.05% in the last 24h and like many of the cryptos in the market, it has been bearish during the last session. The pair was stuck in the bearish descending line for several hours and then bounced from there to cross the central pivot point and now is sitting around $0.45.



Market sentiment

4-H chart technicals signal a Strongly Bearish sentiment.

Oscillators are showing sell signals and pointing down.

Pivot points

R3 0.5039
R2 0.4931
R1 0.4728
PP 0.4620
S1 0.4417
S2 0.4309
S3 0.4106

Conclusion

The bears are definitively driving the market and we must be prepared for further drops in the short time, the corrections were not strong enough and the buyers are just spectators waiting for an opportunity.

Categories
Crypto Market Analysis

Is Bitcoin Already Exhausted?

Bitcoin (BTC)

Market Cap: $130.38B

Circulating Supply: 17.08M BTC

Max Supply: 21M BTC

Volume (24h) $ 4.29B

Bitcoin Price Analysis

Bitcoin has rebounded on the short term, but the upside movement seems completed.  The cryptocurrency is showing some exhaustion signs and could attract the sellers again. The next days could be crucial because a significant decrease will confirm a drop at least to the 6000 psychological level. The major cryptocurrencies have increased a little since last week, but this may be only a temporary rebound before the prices will drop again.


 

If you read my articles and editorials about Bitcoin, you’ll notice that I’ve talked about the importance of the outside sliding parallel line (SL) of the ascending pitchfork. I’ve said that the rate could drop after the retest of the downtrend line and after the failure to make a valid breakout above the third warning line (WL3) and above the SL2.

The sliding line (SL) represented a crucial dynamic support and I’ve mentioned that a valid breakdown will invalidate a potential leg higher and will confirm a further drop. The minor rebound could validate the breakdown if the rate will stay below it and if it will drop again.

Technically, the rate was somehow expected to increase after the valid breakout from the minor down channel, but Bitcoin remains under huge pressure as long as it is trading below the sliding line (SL), the fourth warning line (WL4) and much below the downtrend line.

Conclusion

Bitcoin Price Analysis: You can sell it again if it stays below the SL and below the 7779.0 static resistance with a first downside target at the 150% line of the ascending pitchfork. The Stop Loss could be placed around 7900 level.

Categories
Crypto Market Analysis

Ethereum – Is This A Bullish Signal?

Ethereum (ETH)

Market Cap: $58.98B

Circulating Supply: 99.88M ETH

Max Supply: 0 ETH

Volume (24h): $1.84B

Ethereum (ETH) Technical Analysis 

ETH/USD changed little today but continues to be under selling pressure in the short term. The rate has managed to rebound and to stay above a crucial support level. Right now we need a confirmation that the rate will increase further in the short term because the rate dropped significantly in yesterday’s trading session.

However, yesterday’s drop could be considered to be only a temporary one because the rate could try to test and retest the broken dynamic resistance. We’ll see what will really happen because Ethereum (ETH) and all the major cryptocurrencies have decreased a little after the last day’s increase.


 

Ethereum increased after the false breakdown below the lower median line (LML) of the ascending pitchfork. It has managed to jump and close above the outside sliding line (SL) of the descending pitchfork. The price has come back to pressure the broken sliding line (SL), so, it remains to see if this will really be a valid breakout. ETH/USD could test and retest the LML as well before it will really decide to increase.

The false breakdown below the LML has signalled another leg higher, so we can go long on this but only if the rate will stay above the SL and above the LML. 

Conclusion 

Ethereum (ETH) has turned to the upside on the short term, but only a rejection from the SL and from the LML will really confirm a further increase. You can go long on this if the rate will stay above the mentioned support lines having a first target at the 50% Fibonacci line and the second target at the ML of the ascending pitchfork. The Stop Loss can be placed below the LML.

Categories
Crypto Market Analysis

UBQ/BTC Selling Scenario

Ubiq (UBQ)

Market Cap: 460.52M

Circulating Supply: 41.06M UBQ

Max Supply: 0 UBQ

Volume (24h) $87.51K

UBQ/USD = $1.49419

Technical Analysis

UBQ/BTC is trading in the red today and seems under a lot of selling pressure after the last day’s failure to close on or near a dynamic resistance line. Technically, the perspective remains bearish in the short term despite the last day’s minor gains.

A further and a larger drop could be validated soon if the rate will take out a static support. Right now will be better to stay away and to go short only after the bearish scenario will be confirmed.


 

UBQ/BTC has made a valid breakdown below the uptrend line as the rate has come back to retest it. You can see that the rate has failed to close near the former uptrend line showing a bearish pressure. It has made only a false breakout above the sliding line (sl1) of the descending pitchfork. The rate is trapped between the inside sliding parallel line (sl and the sl1) of the descending pitchfork.

A failure to stay above the median line (ml) of the descending pitchfork will announce a further drop and a potential breakdown below the sliding line (sl) and below the 0.00017750 static support. You can see it from below the mentioned support levels. The next target will be at the downside 50% Fibonacci line (descending dotted line).

 Conclusion 

The corrective phase will continue if the UBQ/BTC rate will make a valid breakdown below the 0.00017750 static support and below the sliding line (sl). The first target will be at the downside 50% Fibonacci line and the second one at the WL1 of the former major ascending pitchfork. The Stop Loss can be placed above the 0.00022661 Wednesday’s high. You should know that a valid breakout above the upside sliding line (sl1) will signal a bullish opportunity.

Categories
Crypto Market Analysis

Santiment Bullish Scenario

Santiment Network Token (SAN)

Market Cap. $75.26M

Circulating Supply: 62.66M SAN

Max Supply: 0 SAN

Volume (24h): $1.17M

Technical Analysis

SAN/USD moves sideways on the short term and seems determined to increase and to recover a little after the last bearish movement. The price developed a triangle chart pattern, so a breakout could bring us a perfect trading opportunity on the short term. Right now you should stay away because it is still under pressure. It is trapped below some very strong dynamic resistance levels, so only a breakout will announce a significant upside movement and will confirm the bullish scenario.



 

The rate dropped again after the breakout above the median line (ML) of the descending pitchfork. It has tested and retested the median line (ML) and now is moving away from it signalling that the bears are exhausted on the short term and that the bulls can step in again. It is still premature to say that we’ll have a sharp increase in the upcoming days.

We could have a great buying opportunity if the rate will make a valid breakout above the downtrend line and above the 1.6630 static resistance. The first bullish signal will be given by the breakout above the upside 50% Fibonacci line (descending dotted line) of the descending pitchfork.

Conclusion

You can go long on SAN/USD after a valid breakout above the downtrend line and outside the descending pitchfork’s body and you can place your Stop Loss somewhere below the former low or below the 0.8350 static support. We’ll have an important upside target at the first warning line (WL1) and another one at the median line (ml) of the ascending pitchfork. A drop below the 0.8350 level will invalidate the bullish scenario.

Categories
Crypto Market Analysis

VEN/BTC Further Increase Could Be Confirmed

VEN/BTC pair is strongly bullish right now, but only a valid breakout will validate a further increase.

VeChain (VEN)

Market Cap. $2.57B

Circulating Supply:525.78M VEN

Max Supply: 0 VEN

Volume (24h) $120.84M

VEN/USD = $4.8790

 

VEN/BTC could resume its bullish movement if it really manages to make a valid breakout. Price is trading in the green and resumed the yesterday’s bullish candle. The rate goes up after the breakout from the Falling Wedge pattern. VEN/BTC is trading at 0.00054630 level and seems determined to approach and reach some very important resistance levels soon.

VEN/BTC Further Increase Could Be Confirmed

Price increased sharply after the retest of the 50% Fibonacci level and now is trading well above the 38.2% retracement level. The upside movement is natural after it has escaped from the Falling Wedge and retested the 61.8% retracement level.

I’ve drawn a minor black ascending pitchfork to catch the upside movement. The rate has finally managed to make a valid breakout above the 50% Fibonacci line (ascending dotted line) of the minor pitchfork. It should take out the resistance from the median line (ml) as well.

VEN/BTC retested the lower median line (lml) and failed to close below it or on it signaling a significant upside movement.

You should know that a valid breakout above the median line (ml) will confirm a further increase towards the upper median line (uml). Resistance can be found at the 50% Fibonacci line of the minor ascending pitchfork, at the sliding line (SL) of the major ascending Pitchfork and higher, at the 23.6% retracement level.

Conclusion

The VEN/USD should increase further if it makes a valid breakout above the median line (ml). A further increase will be invalidated only by a valid breakdown below the outside sliding line (sl2) of the major ascending pitchfork. Price could approach the 0.00081678 swing high if it makes a valid breakout above the sliding line  (SL).

©Forex.Acedemy

Categories
Crypto Market Analysis

Is The Crypto Market Sell-Off Natural?

If you read all the analysis/trade setups in the Crypto Picks section, you’ll notice that I’ve talked about a temporary rebound and about a corrective phase after the last day’s

If you read all the analysis/trade setups in the Crypto Picks section, you’ll notice that I’ve talked about a temporary rebound and about a corrective phase after the last day’s

If you read all the analysis/trade setups in the Crypto Picks section, you’ll notice that I’ve talked about a temporary rebound and about a corrective phase after the last day’s impressive rally.

Technically, today’s aggressive drop was somehow expected because the major cryptocurrencies have reached very strong upside obstacles.

Cryptocurrencies – a new generation of speculative assets

Personally, I’m not surprised by the current sell-off as the cryptocurrencies are very volatile and you should be very careful when you trade or invest in them. Cryptocurrencies are representing the next generation of speculative assets, and they should be treated accordingly.

I’ve seen today all sorts of reasons why the cryptocurrencies have dropped. Most of the specialists have talked only about fundamental reasons. I want to show you the technical factors and reasons why the major cryptocurrencies have dropped today.

Is The Crypto Market Sell-Off Natural | Forex Academy

Source: investing.com

I’ve selected the most important three cryptocurrencies because these are leading the crypto market. Bitcoin dropped by 2.28%, Ethereum by 10.73% and the Ripple by 14.50% at this moment, but this drop could be only temporary if the near-term support levels will hold and will stop the bearish momentum.

Bitcoin (BTC/USD)

Crypto Market Sell-Off

Bitcoin drops after the yesterday’s impressive rally and could invalidate a further increase at this moment. It has found strong resistance right above the 350% Fibonacci line (descending dotted line), above the 23.6% retracement level and above the 50% Fibonacci line. A minor decrease was somehow expected after the breakout above the WL2 of the descending pitchfork. So, a false breakout above the mentioned resistance levels will send the rate down again in the short term as expected.

Only a valid breakout above the  50% Fibonacci line, the 350% Fibonacci line, and the 23.6% level will really confirm a broader upside movement towards the 12000 and 15000 levels.

Ethereum (ETH/USD)

Ethereum (ETH/USD) - Forex.Academy

ETH/USD plunged after the false breakout above the 150% Fibonacci line. Price is pressuring the 50% Fibonacci line and could drop towards the 565.44 static support and towards the upper median line (UML).

The crucial downside obstacle is represented by the lower median line (lml) of the ascending pitchfork. Only a breakdown below it will invalidate a further increase on the Daily chart. A corrective phase was expected after the impressive rally and after the breakout above the upper median line (UML) of the descending pitchfork.

Ripple (XRP/USD)

Ripple (XRP/USD)

The Ripple registered a massive drop today but will be very important where will close the trading session. It has dropped as much as 0.49010, but it has squeezed in the last hours and now is trading at 0.79212.

Yesterday’s false breakout above the 23.6% retracement level and above the 50% Fibonacci line has sent the rate down. This is the second false breakout above the 50% Fibonacci line signaling a major exhaustion.

Conclusion

Technically, the major cryptocurrencies have reached some very strong supply areas and now could come down to test and retest the downside obstacles. The rates could decrease and could also start a sideways movement because they need to recapture more bullish energy before will really start a medium to the long-term upside movement.

©Forex.Academy

Categories
Crypto Market Analysis

ZRX/USD Buying Opportunity

0x (ZRX)

Market Cap. $592.68M

Circulating Supply: 524.68M ZRX

Max Supply: 0 ZRX

Volume (24h): $17.70M

 

ZRX/USD price jumped up by 11.48% today and by 42.06% in the last 7-days becoming an important performer. Price has finally managed to jump above the 1.0000 psychological level signaling that the bulls have taken full control. Right now is important that the rate close the day somewhere near the 1.1500 today’s high.

0x Price Prediction

The rate has moved sideways on the short term signaling and oversold and a potential upside movement. ZRX/USD has managed to break out above the minor downtrend line after the failure to reach the 0.3525 lowest low.

Price has found strong support at the 250% Fibonacci line of a former ascending pitchfork and now has jumped above the 50% Fibonacci line (red ascending dotted line) signaling that the rate will resume the upside movement.

The next upside target is at the median line (ml) of the red ascending pitchfork. It could be reached in the upcoming days. Only a valid breakout above this major dynamic resistance will confirm a further increase towards the 2.0000 psychological level and towards the upper median line (uml).

Technically, it is expected to move towards the 3.0000 level in the upcoming weeks and months if the crypto market will continue the rebound and as long as it will stay within the ascending pitchfork’s body.

ZRX/USD buying opportunity - Forex Academy

ZRX/USD made a valid breakout above the 50% Fibonacci line after several breakout attempts. It could be attracted by the confluence formed between the median line (ml) with the first warning line (wl1) of the former ascending pitchfork. The current upside movement is natural after the several false breakdowns below the lower median line (lml).

Conclusion

The perspective is bullish on the short term, so you should place a Stop Loss somewhere below the 0.4531 if you decide to go long on this crypto on the medium to the long term.

©Forex.Academy

Categories
Crypto Market Analysis

VeChain Broader Increase Validated

VeChain (VEN)

Market Cap. $2.15B

Circulating Supply: 525.78M VEN

Max Supply: 0 VEN

Volume (24h) $94.45M

VeChain increased significantly today and erased the last day’s minor drop. It has finally managed to jump in the buyer’s territory, so we should have a further increase. The next hours could be crucial because we still need one more confirmation that it will jump much above the 5.0000000 psychological level in the upcoming period.

VeChain (VEN) price - Forex Academy

VEN/USD has finally made an aggressive breakout above the upper median line (UML) of the descending Pitchfork and now approaches the 50% Fibonacci line. It should climb towards the upper median line (uml) of the minor ascending Pitchfork and the first warning line (WL1) of the major descending Pitchfork.

The perspective will remain bullish on the Daily chart as long as the price stays within the ascending pitchfork’s body. The crypto could increase without a broken upper median line (UML) retest. You can notice that its price has been pressing the UML in the last days. However, it could still retest the median line (ml) of the ascending pitchfork in the upcoming days because it could try to capture more directional energy. A significant retreat could appear if the crypto market crashes again.

vechain price prediction 2018

An important upside movement will be confirmed if the price gets enough directional energy to close above the 4.20381996 high. VEN/USD could be attracted by the confluence area formed between the upper median line (uml) with the150% Fibonacci line. A valid breakout will validate a further increase towards the WL1 of the major descending pitchfork.

Conclusion

If you go long on this crypto, you should place a Stop-loss somewhere below the lower median line (lml) of the ascending pitchfork. Technically, it is expected to double its value in the upcoming months, so it should approach and reach the 8.0000000 level again.

©Forex.Academy

Categories
Crypto Market Analysis

Dashcoin Leg Higher Underway

Dashcoin (DSH)

Market Cap. $ 4.06B

Circulating Supply: 8.03M DASH

Max Supply: 18.9M DASH

Volume (24h): $144.36M

 

Dashcoin (DSH) increased by 7.48% today and by 40.26% in the last 7-days, signaling that the bulls are in full control. The rate has reached an important dynamic resistance and now has slipped lower in the last hours. The perspective is bullish on the short term so we may see the crypto at new highs soon.

Dashcoin (DSH) price

DASH increased significantly after the valid breakout above the downtrend line and now is pressuring the 50% Fibonacci line (ascending dotted line). The perspective remains bullish as long as the rate stays within the ascending pitchfork’s body and most important above the outside sliding parallel line (SL).

Technically, it should be attracted by the median line (ML) of the ascending pitchfork which acts like a magnet. The major upside target is at the upper median line (UML), but we should have another retreat before the rate moves towards this upside obstacle.

Right now you should stay away from this crypto because is too higher to buy it at this moment. We may go long again after another minor correction. It remains to see if the correction will come now or after will reach the median line (ML).

Technically, it should approach and reach the $700 level in the upcoming period as long as it stays above the outside sliding line (SL).

dash difficulty chart

We had a great buying opportunity after the rate has escaped from the minor consolidation. It has failed to retest the lower median line (LML) signaling a high bullish pressure. A valid breakout above the 50% Fibonacci line will confirm a further increase towards the median line (ML). Meanwhile, a false breakout or a failure to touch this line will send the rate towards the lower median line (LML) and the sliding line (SL) very quick.

Conclusion

You should stay away for now because we don’t have a trading opportunity at this moment. Another minor corrective phase will give you the chance to go long. You should place a Stop Loss somewhere below the sliding parallel line (SL).

©Forex.Academy

Categories
Crypto Market Analysis

Litcoin Further Increase Still Possible

Litcoin (LTC)

Market Cap. $8.53B

Circulating Supply: 56.22M LTC

Max Supply: 84M LTC

Volume (24H) $390.80M

 
 

Will Litecoin Recover April 2018

The Litcoin increased more than 19% in the last 7-day and is fighting hard to stay above some very important broken resistance levels. It is trading above the 150.000 psychological level, but unfortunately, it has shown a minor exhaustion in this weekend.

litecoin price analysis

Price has found temporary resistance right above the second warning line (wl2) of the former ascending pitchfork. Litcoin is almost to reach this line again after the retest of the 50% Fibonacci line of the descending pitchfork. Actually, the rate has made a false breakout above the warning line (wl2), so a retest will send the price down a little.

Maybe we’ll have a minor consolidation before the rate tries to break out from the descending pitchfork’s body. An accumulation above the 136.61 level could give us a great chance to go long on this major crypto again.

Personally, I believe that only a drop below the third warning line (wl3) and below the 50% Fibonacci line will invalidate a further increase in the upcoming period.

We’ll have a very important upside target somewhere at the first warning line (WL1) of the major descending pitchfork. Only a valid breakout above this line will confirm a further increase.

Will Litecoin recover - Litecoin chart analysis

Will Litecoin recover? You should stay away for now, because we don’t have a great buying opportunity. An accumulation above the 136.61 could bring more bullish energy. Technically, we have a very strong resistance line at the inside sliding line (SL) of the descending pitchfork.

The perspective will remain bullish as long as the rate stays above the 136.61 static support (resistance turned into support).

Categories
Crypto Market Analysis

Bitcoin Long, The Most Expected Setup

Bitcoin (BTC)

Market Cap. $143.84B

Circulating Supply 16.99M BTC

Max Supply: 21M BTC

Volume (24H) $7.40B

 

Bitcoin massive corrective phase has forced the other cryptocurrencies to drop as well. Technically, a corrective phase was expected, but not so deep. Unfortunately, the fundamental factors have taken the lead and have driven the rate towards the 6000 psychological level.

Bitcoin Long, The Most Expected Setup

Bitcoin has shown an oversold when it ihas finally managed to make a valid breakout above the first warning line (WL1) of the descending pitchfork. Price tested and retested the sliding parallel line (sl) of the ascending Pitchfork signaling a bullish pressure.

The rate increased and is trading above the $8500 and much above the lower median line (lml) of the ascending pitchfork. It has managed to breakout above the WL2 today, but the breakout needs confirmation.

I draw two potential long trading setups on the Daily chart for those who didn’t enter long in the previous week.  Price could increase further in the upcoming days without a retest of the broken WL2 but is too risky.

Personally, I would wait for a retest of the WL2 and the lower median line (lml) before I go long again on the Bitcoin. It would be perfect if the rate will come down towards the outside sliding line (sl) because we’ll have a great buying opportunity with a very low risk.

bitcoin setup

Bitcoin will resume the upside movement if it has enough energy to climb and close above the $8600 level. It could be pulled by the confluence area, formed between the 50% Fibonacci line and the 350% Fibonacci line. A valid breakout through this confluence area will accelerate the bullish momentum.

In conclusion, a decrease will give us a great opportunity to go long on the Bitcoin again if you don’t want to take a long position with a high risk and to place a Stop Loss below the $6425 low.

© Forex.Academy

Categories
Crypto Market Analysis

Ethereum Long Setup

Ethereum (ETH)

Market Cap. $56.68B

Circulation Supply: 98.93M ETH

Max Supply: 0 ETH

Volume (24h)

Ethereum (ETH) is the second most important crypto after the Bitcoin, so all the investors and traders are watching it closely. The rate has managed to increase in the last days as expected and now is almost to make a crucial breakout.

Ethereum (ETH) - Forex Academy

Ethereum is trading at $584 now and seems determined to climb much higher. It has reached the upper median line (UML) of the descending pitchfork. The UML represents a strong dynamic resistance, so only a valid breakout above it will signal a further increase.

The rate has breakout above the 565.44 static resistance as well as the bulls are in full control. I’ve drawn an ascending pitchfork hoping that I’ll catch the next major upside movement. We had a great buying opportunity after the rate has retested the lower median line (lml), near the $400 level. Personally, I still believe that we may have another buying opportunity soon if the rate will make a valid breakout above the UML. The major upside targets are at the median line (ML) and the upper median line (UML) of the ascending pitchfork. It could approach and reach these levels as long as it is trading within the ascending pitchfork’s body.

ethereum setup

You can see on the H4 chart that the rate has jumped above the UML and approaches the next dynamic resistance represented by the downside 50% Fibonacci line (ascending dotted line). Technically, we could see a minor drop in the upcoming days after the impressive upside movement. A retest of the broken UML and a valid breakout above the 50% Fibonacci line will really confirm a further increase towards the median line (ml) and towards the upper median line (uml) in the upcoming weeks and months.

© Forex.Academy

Categories
Crypto Market Analysis

Cryptocurrency market is starting to gain confidence

General overview

Market Cap: $343,721,340,582

24h Vol: $20,346,209,841

BTC Dominance: 40.3%

Global market cap charts

In the last 24 hours, new 20B have entered the market. Market capitalization has been steadily rising as you can see from the chart.  

News

News that came out is mostly around cryptocurrency use cases and adoption which is extremely positive. Most significant headlines are the following:

NASA Funds Development Of Autonomous Spacecraft That Uses Blockchain

The National Aeronautics and Space Administration (NASA) has awarded a new grant that supports the development of an autonomous spacecraft that could make decisions using Blockchain technology without human intervention, news outlet Space.com reported April 18.

Source: Ana Alexandre, April 18. Cointelegraph.com

IBM And Salon Media Pilot Blockchain Project To Prevent Fraud In Advertising Industry

IBM and Salon Media are piloting a proof-of-concept Blockchain product created by AdLedger, a nonprofit consortium that develops shared ledger technologies for the digital advertising market, Marketing Dive reported April 18.

Source: Marie Huillet, April 18. Cointelegraph.com

US Stablecoin Project Basis Raises $133 Mln From Major VC Firms

The US-based Blockchain project Basis (formerly known as Basecoin), which claims to provide a non-volatile cryptocurrency or stablecoin, has recently raised $133 mln in funding from big name investors, according to an official blog post published today, April 18.
Source: Helen Partz, April 18. Cointelegraph.com

Hedge Fund Och-Ziff Exec Leaves Wall Street To Become Coinbase CFO

The Chief Financial Officer (CFO) at Wall Street’s Och-Ziff Captial Management (Oz Management) has left to become the new CFO at major crypto wallet and exchange service Coinbase, according to Coinbase’s blog post published yesterday, April 17.

Source: Molly Jane Zuckerman, April 18. Cointelegraph.com

China’s Telecom Giant Huawei Launches Blockchain-As-A-Service Platform

Chinese telecommunications giant Huawei revealed its latest Hyperledger-fuelled Blockchain offering at a conference in Shenzhen Tuesday, April 17. The Blockchain-as-a-Service (BaaS) tool, which comes a month after the release of Huawei and Hyperledger’s joint project Caliper, will be known as the decidedly low-key “Blockchain Service.”

Source: William Suberg, April 18. Cointelegaph.com

Energy Giant BP Says It’s Tested ‘Internal’ Tokens

Energy giant BP would consider partnering with blockchain startups that are doing initial coin offerings, and it’s even tested tokens internally, an executive said Wednesday. Speaking at the Blockchain Expo in London, Julian Gray, the technology director for BP’s digital innovation organization, voiced a common theme: non-financial enterprises are perhaps more open to open-blockchain innovation than their financial-services counterparts.

Source: Ian Allison, April 18. Coindesk.com

 

Analysis

BTC/USD

Analysis BTC/USD chart

In the past 24 hours, Bitcoin is up around 3,55%, coming from slightly below 8000$ to around 8200$ where is now sitting. Looking at the daily chart we can see that support has been retested, and it held up pretty good.

Bitcoin is up around 3,55%

The current market sentiment for Bitcoin is slightly positive, meaning 65% out of 297 mentions in total are positive.

Source: sentiment.io

market sentiment for Bitcoin

Zooming into the hourly chart we can see that another short-term support has been crossed and that the price is sitting just above it. A lot of wicks on these candles are formed, which means that there’s a lot of pressure from both sides.

Overall, hourly chart signals a buy.

hourly chart signals a buy ETH/USD

Pivot points:

S3 4361
S2 5990
S1 6997.9
P 7619
R1 8626
R2 9248
R3 10877

ETH/USD

ETHUSD chart - forex academy

In the past 24 hours, Ethereum’s price is up by 6,37% coming from 501$ to 536$ where is now sitting. Looking at the daily chart we can see that the price is above the 1,272 Fibonacci level which is serving a support.

Current ETH sentiment is positive, meaning 74% of 171 mentions in total are positive.
Current ETH sentiment is positive, meaning 74% of 171 mentions in total are positive.

Source: sentiment.io

Ethereum’s price is on an upward channel, and is now interacting with the upper line of the channel.

Looking at the hourly chart, we can see that Ethereum’s price is on an upward channel, and is now interacting with the upper line of the channel.

Overall, hourly chart signals a buy.

hourly chart signals XRP/USDPivot points:

S3 183.46
S2 327.57

S1 415.01
P 471.68
R1 559.12
R2 615.79
R3 759.90

XRP/USD

XRPUSD

In the past 24 hours, Ripple is up by around 8%, coming from 0.657$ to 0.7$ where is now sitting. Looking at the daily chart, we can see that the price has been repealed by the 0.786 Fibonacci level.

Ripple is up by around 8%, coming from 0.657$ to 0.7$ The current market sentiment for Ripple is positive, meaning 87,88% of 66 mentions in total are positive.

Ripple is positive, meaning 87,88% of 66 mentions in total are positive.

If we look into the hourly chart, we can see that the price has breached out of the triangle and is now sitting at the support line which is in the same levels as the starting point of the triangle.

Overall, hourly chart signals a buy.

Pivot points - forex academyPivot points:

S3 0.13715

S2 0.37215
S1 0.50608
P 0.60715
R1 0.74108
R2 0.84215
R3 1.07715

 

Conclusion

Yesterday’s pullback has been completed, and market capitalization is on the rise again. All three of the coin are testing their recent support levels so that the price can go further up. Having said that and, being that news is extremely positive, the market is starting to gain newly found confidence.   

Categories
Crypto Market Analysis

Bitcoin Update March 17

Bitcoin Update

The Bitcoin price today reports losses of around -3.50% as the session has progressed on Monday, the day started with a downward movement that sent Bitcoin below $ 8,000. Now it is currently at about  $7.984 After the strong rally we could see last week, on this one many buyers may be expecting a considerable pullback.

The 100 SMA is above the 200 SMA, which tells us that the price has little resistance to the upside, or to put it in other words, it is more likely that rise will start than the price falls. The space between these two indicators is still expanding or indicates a strengthening of the bull’s pressure.

The 100 SMA will be an important support to beat for bears and is close to $ 7836, a break of this support can send the price to $ 7000-7200, which could indicate that the bears are strengthening again.
The stochastic is at intermediate levels above 20, which shows a rest in the buyers and allowing sellers to take over from here. The RSI is also pointing down towards the oversold levels or indicating that we are close to the upward pressure that will lead us to overcome the highs of the last week and most likely find new highs for this week.

BTC/USD April-17/2018

 

The slight fall in the price of Bitcoin is stimulated by the imminent tax filing deadline in the US on April 17. (Massive withdrawals to pay taxes) Traders are anticipating more gains for the cryptocurrency after the deadline because investors will reopen their positions. In addition, the second quarter of the year (Q2) has been historically positive for the price of Bitcoin, so it will not be a surprise that investors make a strong movement inside the market before the end of the period.

Volume in Bitcoin continues to rise, despite recent bans in India and Pakistan. The market remains nervous for regulatory measures but the news that large hedge funds are preparing to invest more in the crypto market will overcome these nerves.

© Forex.Academy

Categories
Crypto Market Analysis

Bitcoin Shines Again

The crypto market has finally managed to bounce back in the last days as expected. The major cryptocurrencies have registered important gains in the short term, but we still need a confirmation that we’ll have a larger upside movement. The current rebound could be only temporary and the major cryptocurrencies could come back down to test and retest some very important support levels before will have started a major upwards movement.

Will Bitcoin Rise Again

The rate dropped in the early morning and erased some of the yesterday’s gains. Bitcoin has managed to jump in the buyer’s territory in the short term but is too early to talk about a larger rebound at this moment. It has managed to pass above the 8000 psychological level and approaches a very strong dynamic resistance.

Will Bitcoin Rise Again

Bitcoin increased sharply on April 12 signaling that the corrective phase is completed. Price was almost to reach the second warning line (WL2) of the major descending pitchfork where it could find resistance again.

Maybe the rate will come back to test and retest the lower median line (lml) of the ascending pitchfork before will breakout above the WL2. The perspective will be bullish on the Daily chart as long as the price stays inside of the ascending pitchfork’s body and above the outside sliding parallel line (sl).

Bitcoin has lost the bearish momentum, so another leg higher was expected. Personally, I still believe that we may have a significant bullish movement in the second part of the year. It could become strongly bullish after will climb and will stabilize again above the 10000 psychological level and above the downside 50% Fibonacci line.

Ethereum rebound in play

The crypto decreased a little as well today, but the bias remains bullish on the short term. Ether jumped above the $500 again and should reach crucial resistance levels very soon.

Ethereum rebound in play

Price jumped above the 50% Fibonacci line (descending dotted line) of the descending pitchfork as expected. The next upside targets will be at the 565 level and at the upper median line (UML) of the descending pitchfork. Resistance could be found at the downside 50% Fibonacci line of the ascending pitchfork.

Ethereum could decrease to retest the broken 50% Fibonacci line and also the lower median line (lml) before will make a valid breakout above the UML of the descending pitchfork. Personally, I believe that only a valid breakout above the downside 50% Fibonacci line of the ascending pitchfork will really confirm a broader rebound.

Litcoin still under pressure

Litcoin still under pressure

Litcoin retested the second warning line (wl2) of the former ascending pitchfork and now is trading in the red again. Price moves sideways between the 106.52 and the 136.61 level. Only a breakout from this range and above the 50% Fibonacci line (descending dotted line) will confirm an increase towards the upper median line (UML) of the major descending pitchfork.

The failure to reach and retest the 106.52 lowest low has signaled an oversold and a potential bullish momentum. However, the rate could slip lower to test and retest 106.52 level, the median line (ML) and the third warning line (wl3) before will try to climb towards fresh new highs.

Conclusions

Bitcoin, Ethereum, and Litcoin increased in the short term and signaled that the major corrective phase could be completed. It is premature to talk about larger upside movements at this moment. We need confirmations on the major cryptocurrencies before we can go long on the medium to the long term.

Categories
Crypto Market Analysis

Market Capitalization Sligthly Up

General overview:

Market Cap: $327,852,350,305

24h Vol: $15,480,704,734

BTC Dominance: 42.1%

Total Market Capitalization

In the past 24 hours market capitalizations went up from slightly below 322B to around 338,703,000,000$. Currently, it is sitting around 329B.

News:

There was no significant news in the past 24 hours. However, three major headlines have stood out.


Lithuanian Central Bank Initiates Dialogue On Crypto Between Banks, Regulators, Traders

The Bank of Lithuania has reportedly begun looking into cryptocurrencies, initiating a dialogue between commercial banks, government regulators, and crypto traders, local news outlet.

Source: Molly Jane Zuckerman, April 16. cointelegraph.com

Malta Regulator Seeks Feedback On Proposed Crypto Financial Instrument Test

The Malta Financial Services Authority (MFSA) has released a consultation paper on the possible introduction of a “Financial Instrument Test” that would legally define virtual tokens, according to an April 13 announcement on their site.

The Financial Instrument Test, first proposed in a Nov. 30 paper on Initial Coin Offerings (ICO), virtual currencies, and related service providers, would determine whether a Distributed Ledger Technology (DLT) asset falls under EU and traditional financial regulations or Malta’s proposed Virtual Financial Assets Act (VFAA).

Source: Molly Jane Zuckerman April 16, cointelegraph.com

Mastercard Eyes Blockchain for Fighting Fake Identities

A newly published patent filing from Mastercard suggests that the payments giant is looking at blockchain as a way to safeguard identity data. In an application released by the U.S. Patent and Trademark Office (USPTO) last Thursday, Mastercard describes a system in which a semi-private or private blockchain would be used to receive and store identity data, the pieces of which could include a “name, a street address, tax identification number” and more.

Source: Annaliese Milano, April 16. Coindesk.com

Analysis

BTC/USD

BTC/USD chart

In the last 24 hours, Bitcoins price went from 8060$ to 8383$, and it has retraced since to 8042$ where is now sitting which is 3.62% drop. Looking at the daily chart, we can see that the price is still above the 0.618 Fibo level which is a good sign.

The current sentiment for Bitcoin is very positiveThe current sentiment for Bitcoin is very positive, meaning that 80% of the total 200 mentions are positive.
Source: sentiment.io

Bitcoins price went from 8060$ to 8383$

Zooming into the hourly chart, we can see that the price is finding support and is now resting at the levels of prior resistance.

hourly chart signals a sellOverall, hourly chart signals a sell

Pivot points:

S3 4361.0
S2 5990.0
S1 6997.9
P 7619.0
R1 8626.9
R2 9248.0
R3 10877.0

ETH/USD

Ethereum’s price went from 504$ to 533$

In the last 24 hours, Ethereum’s price went from 504$ to 533$ and has since pulled back to 507$ where is now sitting.

sentiment for Ethereum is positive meaning 75% of 136 mentions in total are positiveCurrent sentiment for Ethereum is positive meaning 75% of 136 mentions in total are positive.
Source: sentiment.io

 

price found resistance at the 1,272 Fibonacci level

Looking at the hourly chart, we can see that the price found resistance at the 1,272 Fibonacci level.

hourly chart signals

Overall, hourly chart signals a sell.

Pivot points:

S3 183.46
S2 327.57
S1 415.01
P 471.68
R1 559.12
R2 615.79
R3 759.90

XRP/USD

XRP/USD

Ripples price went from 0.64$ to 0.69$ and it has pulled back since to 0.65$ in the last 24 hours. Looking at the daily chart we can see that the price is heading down towards 0,618 Fibonacci level for a retest.

current sentiment is positiveThe current sentiment is positive, meaning 75% of 64 mentions in total are positive.
Source: sentiment.io

Ripples price went from 0.64$ to 0.69$
Zooming into an hourly chart we can see that the price has formed a rising wedge, from which is likely going to breakout downwards.

hourly chart signals a sell - forex academyOverall, hourly chart signals a sell.

Pivot points:

S3 0.13715
S2 0.37215
S1 0.50608
P 0.60715
R1 0.74108
R2 0.84215
R3 1.07715

 

Conclusion

All of the crypto pairs are pulling back after the price surge that we’ve seen in the last couple of days. This is a wave 2 out the 12345 impulse wave, and in order to see new highs, the price needs to find solid support, which is now happening in the market.

Categories
Crypto Market Analysis

Surge in Crypto-Coin Capitalization

General overview

Market Cap: 311,391,250,022$

24h Vol: 25,736,521,327$

BTC Dominance: 42.6%
In the last 24 hours, cryptocurrency market capitalization went from 268,960,000,000$ to 311,391,259,000 where is now sitting.

As you can see from the chart, the momentum was strong, and it broke the resistance which is now serving as support around $299B.

Crypto-Coin Market Cap News

Mainly, cryptocurrency market capitalization news that came out in the last 24 hours are mostly about the crypto surge market experienced.

Cryptocurrency Market Cap Clips $300 Billion as Bear Trap Liquidates Shorts

>Analysts largely attributed the precipitous surge to a “bear trap,” which occurs when futures and margin traders attempt to short an asset but have their positions liquidated due to a price increase, forcing them to buy at market prices to cover their position. Source: Josiah Wilmoth, April 12. 2018, ccn.com

Future Gains! Bitcoin Has Bottomed Out, Says Pantera Capital in a Bold Cal

>Now’s the time to get long bitcoin, a leading cryptocurrency hedge fund says. Not only is bitcoin out of the doldrums, but it’s onward and upward from here. Source: Gerelyn Terzo April 12. 2018, ccn.com

However, there was some significant regular news as well.

Bank Of America Seeks Patent On Blockchain-Based Data Storage System

>On April 12, the US Patent and Trademark Office published Bank of America’s application for a patent on a Blockchain-based storage system with automated data authentication. Source: Ana Alexandre April 13. 2018, cointelegraph.com

UAE Government Launches Blockchain Strategy 2021

>Sheikh Mohammed bin Rashid, Vice President and Prime Minister of the UAE and Ruler of Dubai, has launched the ‘UAE Blockchain Strategy 2021’ with the goal of becoming a world leader in adopting this technology, the Dubai Media Office reported April 11. Source Ana Alexandre April 13. 2018, cointelegraph.com

Australian Power Company to Reopen Coal Power Plant to Mine Bitcoin

>An Australian power company have signed a contract with a cryptocurrency mining firm to provide them with cheap off-grid power. The IOT Group will be building a digital currency mining hub that’s actually inside a disused coal-fired power station in the Hunter Valley region. Source: Rick D. April 12. 2018, newsbtc.com

Analysis

BTC/USD

In the last 24 hours, Bitcoins price went up from 6770$ to 8030$ at one point. Since then, the price was pulled back slightly to around 7800$ where is now sitting. Overall the price of Bitcoin rose up 13.67% making it breach the falling wedge in which the price was since December 17 last year.

cryptocurrency market capitalization chartThe current sentiment for Bitcoin is slightly positive, meaning only 69,89% of total 356 mentions on the web are positive.

Source: sentiment.io

Zooming into its hourly chart, we can see that price has formed a bull flag and is now is sitting at a pivot point, testing those levels for support, before it can proceed forward.

Overall hourly chart signals a buy.

 

Pivot points:

S3        4773.3
S2        5857.9
S1        6375.2
P          6942.5
R1       7459.8
R2       8027.1
R3       9111.7

ETH/USD

Ethereum’s price has risen 16,46% in the last 24 hours. From 430$ to 505$ at the highest point and is now sitting around 487$. Looking at the daily chart, we can see that the price has breached out the falling wedge, like in the case of Bitcoin.

positive cryptocurrency market sentimentThe current market sentiment for this cryptocurrency is positive, meaning  71.3% positive mentions on the web out of a total of 115.

Source: sentiment.io

 

Looking at the hourly chart, we can note that price has formed two bull flags on the way of forming a cup and handle. That is an extremely bullish sign, and if you look back at the daily chart, this formation was also the bottom last time the price surged all the way up to above 1000$

Overall the hourly chart signals a buy.

Pivot points:

S3        266.92
S2        326.80
S1        355.48
P          386.68
R1       415.36
R2       446.56
R3       506.44

XRP/USD

Ripple was the first among three pairs that are covered in this report who’s price broke out of the correctional channel yesterday. The breakout resulted in a staggering 32% price increase in the last two days to its highest point of about 0.66$ per Ripple.

Ripple - Surge In Cryptocurrency Market Capitalization

The current sentiment for this crypto is very positive. However, there are only 47 mentions in total recorded by sentiment.io

 

 

Zooming into its hourly chart we can see that price formed two bullish flags after the cup-and-handle was completed, and after price tested the 0.38 Fibonacci level for support.

Overall the hourly chart signals a buy.

 

Pivot points:

S3        0.29764
S2        0.39765
S1        0.44120
P          0.49766
R1       0.54121
R2       0.59767
R3       0.69768

Conclusion

What happened yesterday in cryptocurrency market is another great example to observe the strong correlation of all assets in this market. We’ve seen how all three major currencies experience the same condition – breaching out of theirs corrective channels and creating bull flags. I think we are still going to experience a couple of days in a sideways movement before the uptrend is established, but one thing’s for sure – “crypto recession” is over.

Categories
Crypto Market Analysis

Bitcoin’s Price explodes today above $8,000 In a big volume movement

Bitcoin has shown today that it can still trade with incredible swings as it did it the last year. 3 hours ago, bitcoin surged as much as 17% to trade above $8,00. We had not seen this price since last March 28. The No. 1 cryptocurrency reached as high as $8,061 and then backed down to trade near $7,676 as this update is written,

The rest of the market appears very solid, showing positive percentages in all the top 100 principal cryptocurrencies.  There is no a clear fundamental that could have sent the price to jump this way but there are some speculations in twitter about recent news that are talking about that bitcoin has been declared compliant with Islamic Tradition or Shariah Law.

This week, Blossom Finance, a microfinance firm based in Indonesia, published a working paper that says “bitcoin qualifies as Islamic money, except where it is banned by a local government.”

If this news is effective and Bitcoins is declared Holy for Islamic community, 1.8 billion people will be allowed to buy and trade with Bitcoin and cryptocurrencies.

Looking at the 4-hour price charts on the Broker JAFX it shows bulls are currently trying to test the resistance on the 200 EMA close to the $7.837.

However, the Relative Strength Index (RSI) and Stochastic oscillators are well below the 80 range showing BTC/USD markets are still not overbought and price can go higher a little after the break of the last 2 hours.

On the upside, we see some resistance at the $8,150. On the backside, if this run-up ends in a short party then there are strong supports between $7,500 through $7,100.

 

Categories
Forex Educational Library

Source Evaluation Template For The Cryptocurrencies Market

Cryptocurrency market is still in its infancy stage. That means that the industry around it is too. People all around the world are jumping at the opportunity to take the piece of the pie, and whoever gets it first is his. This results in a great influx of financial layman’s offering advice, bringing news and teaching you how to trade, especially on youtube where people first come for information because it’s easier to accept it in a video format.

A sentence I commonly hear among those who offer this information is: This is not financial advice, do your own research. They say this in order to legally protect themselves, yet they do offer financial advice. That’s why doing your own due diligence in the cryptocurrency market is crucial. And to assist you in that I’ve created a template for you to evaluate your source of information.

I’ve divided them into three categories: news, ico’s and analysis.

Regarding news:

  1. Directness:

1.1 Is it a direct source (e.g., projects website or other social media outlets such as medium, (sub)Reddit, Twitter) (good)

1.2 Is it indirect source (news website) (neutral)

  1. Agenda:

2.1 Entertainment (neutral)

2.2 To inform (good)

2.3  Advertisement and/or interest (bad)

Your goal should be to be the closest to the source as possible. If you are interested in latest developments of your favourite crypto project, join their telegram group, or slack channel. Every established project has one. If not go to Reddit and find their subreddit, where admins are the official community managers for the project. Many of them also have a blog on Medium where they update their readers on a regular basis.

 

Regarding ICO recommendation:

  1. Who is it coming from:

1.1 Does it come from someone within the space (good)

1.2 Does it come from someone outside the space (neutral)

  1. Why is he recommending it

2.2.1 To promote because of his interest (bad)

2.2.1 Is it just a fresh topic (neutral)

2.2.3 Because he believes it’s a good idea (good)

Cross-reference that will other people recommending the same thing, and/or ask people for their opinion.

As an example, you don’t want to take your ICO recommendations from the CNBC’s show Crypto Trader. Why? Because those are sponsored, and the show is for entertainment purposes.

Analysis:

  1. Experience:

1.1 Success track record:

1.1.1 no track record (bad)

1.1.2 vague track record (neutral)

1.1.3 clear track record (good)

1.2 Prior (before crypto) engagement in financial markets

1.2.1 yes (good)

1.2.2 no (bad)

  1. Expertise:

2.1 Only crypto market (neutral)

2.2. Broad understanding of financial markets (good)

 

In the crypto world, everybody’s a trader or knows a thing or two about technical analysis. And that’s a good thing, but chose carefully who you are listening to when it comes to putting your money on the line. Ideally, you shouldn’t be listening to anybody. You should learn how to do your own analysis or higher a certified financial analyst to consult you on your investments.

That’s it. Now next time you are searching for information you have a way to validate them. I encourage you to expand on this template and create your own. Incorporate things that you find important when it comes to evaluating your source. And remember: always do your own research.