The CEO of CoinList says that crypto markets will be quiet in 2019, while companies and entrepreneurs concentrate on building the space
Source: Cointelegraph.com
Original Post: CoinList CEO: Quiet Year for Crypto in 2019 Will Lead to Innovation
There’s no doubt this crypto winter we’re experiencing has taken itse toll on a number of crypto startups. Some…
The post Crypto Winter: Who Was Prepared, Who’s Going Broke, What Are the Effects? appeared first on Invest In Blockchain.
Source: Investinblockchain.com
Original Post: Crypto Winter: Who Was Prepared, Who’s Going Broke, What Are the Effects?
Tone Vays, a prominent trader, Bitcoin enthusiast and head of research at Brave New Coin tweeted that having a debate between prominent people in the Bitcoin community and those in the XRP and Ripple community would be like a conversation between “Geologists” and “Flat Earthers”.
@Zerpryder tweeted that it would be “very educational” if there was a debate between members of the XRP and BTC community like David Schwartz [CTO of Ripple], Adam Back [CEO of Blockstream], Peter Todd [Cryptographer], Brad Garlinghouse [CEO of Ripple], Saifedean Ammous [Bitcoin economist and Author], Ryan Zagone [Director of Regulatory Relations of Ripple], Trace Mayer and Tone Vays.
Tone Vays retweeted @Zerpryder’s tweet saying:
“No, it would be more like Geologists debating Falt Earthers or those who still think the Earth is the Center of the Universe.
— #Bitcoin —
I was initially going to say “Creationists” but that would be disrespectful. The earth being 6,000 yrs old makes way more sense than $XRP”
There are people in the community who are against Ripple and XRP and are under the impression that Ripple and XRP is not a blockchain or decentralized. This is not a new revelation for Ripple as it faces a lot of heat especially when it comes to the topics of decentralization.
Tone Vays continued:
“Just to be clear, #Bitcoin & #Ripple have absolutely NOTHING in common besides being on @CoinMarketCap. $XRP is NOT money/currency, it’s a #security of @Ripple Corp, like all #ICO. If @SEC_Enforcement actually did their job, this would’ve already been clarified by @SEC_News”
A Twitter user, @Gannvan commented:
“Bitcoin core’s most prized developer thinks the earth is at the centre of the universe, so they might agree on something at least.”
Another user @Vovano commented:
“Omagad I fell in love with @ToneVays on this tweet. Why would anyone confuse XRP with a store of value”
@zerpryder tweeted:
“Hey @cryptomanran this I’m sure would draw a large audience. I for one would clear my calendar for the entire day to witness this. Anyone else have someone in mind to Host/Moderate?”
The post Ripple fans compared to “Flat Earthers” by a prominent Bitcoin [BTC] enthusiast and trader appeared first on AMBCrypto.
Source: AMBcrypto
Original Post: Ripple fans compared to “Flat Earthers” by a prominent Bitcoin [BTC] enthusiast and trader
It’s a case of police entrapment that goes beyond the pale. After a ruling Wednesday by the U.S. Third District Court of appeals, a Florida man will have to face a trial by jury over felony charges in Miami for selling bitcoin to undercover police. Felony Charges for a Victimless Crime? “Espinoza’s bitcoins-for-cash business requires him to register as a payment instrument seller and money transmitter” under Florida financial statutes, the court ruled Wednesday, adding that he was “not merely selling his own personal bitcoins, he was marketing a business.” Now he’ll face serious felony charges for money laundering as
The post Florida Bitcoin Trader Faces Felony Charges for Selling Crypto to Undercover Police appeared first on CCN
Source: CCN.com
Original Post: Florida Bitcoin Trader Faces Felony Charges for Selling Crypto to Undercover Police
Canadian-based QuardigaCX says they can’t find their cold storage wallets. In a notice published on its website, the crypto exchange says they have filed an application for protection under the Companies’ Creditors Arrangement Act (CCAA), a Canadian law which deals with bankruptcies in Canada. For the past weeks, we have worked extensively to address our liquidity issues, which include attempting to locate and secure our very significant cryptocurrency reserves held in cold wallets, and that are required to satisfy customer cryptocurrency balances on deposit, as well as sourcing a financial institution to accept the bank drafts that are to be
The post Crypto Exchange QuadrigaCX Claims They Can’t Find Their Wallets appeared first on CCN
Source: CCN.com
Original Post: Crypto Exchange QuadrigaCX Claims They Can’t Find Their Wallets
Bitcoin remains the most popular cryptocurrency in the world today with a network that spans across the globe. But just what the distribution of Bitcoin nodes tell us about the rate of adoption of the top-ranked cryptocurrency on a global scale?
According to a 2019 study by Themetafriend, there are 36 countries in the world with at least one percent of their population as Bitcoin users. This study assumed a relationship between the ratio of Bitcoin nodes in any two countries to that of the number of users in those countries.
Using this ratio, it seems theoretically possible to examine the distribution of Bitcoin users worldwide. The following is an estimate of the number of Bitcoin users in different continents.
Europe and North America are hardly ever absent from any conversation related to technological advancements. Of the 36 countries where Bitcoin users make up at least one percent of their population, 26 are in Europe or North America.
These nations include Canada, France, Belgium, Belarus, Germany, the U.K., and the U.S. Others are Lithuania, Luxembourg, Norway, Romania, Iceland, Slovenia, and Sweden.
Looking at the current global nodes distribution as provided by Bitnodes, there is a high density of nodes in both Europe and North America. Also, of the top ten countries based on the number of nodes, only three (China, Singapore, and Japan), come from outside Europe and North America.
Back in November 2018, Bitcoinist reported that the total number of public Bitcoin nodes had surpassed 10,000. According to the latest figures from Coin Dance, the Bitcoin network currently boasts 10,071 listening full nodes and with over 61,000 nodes in total, according to other data sources.
Apart from Japan and Singapore, South Korea, Australia and India also have at least one percent of their population as Bitcoin users. China, however, does not fall into this category making India’s presence particularly noteworthy given the similarities in their population figures.
In South America, Brazil, Uruguay, and Argentina have the most BTC users. Venezuela does not appear to rank on a significant scale, however.
In Africa, only South Africa registers any significant number of users. According to the study, the southernmost nation in Africa has between 0.1 and 0.99 percent of its population as Bitcoin users. Places like Angola and Tanzania have between 0.01 and 0.099 percent.
With access to electricity still a luxury in many places on the continent, the results from the study come as no surprise. According to Bitnodes, the highest ranked African nation based on the number of Bitcoin nodes, South Africa, is in the 33rd position (out of 100).
The methodology by Themetafriend uses node distribution to determine Bitcoin users. It should be noted, however, that such a methodology might not show the entire spectrum of adopting technology as multifaceted as Bitcoin.
For example, countries in Africa aren’t running Bitcoin nodes (maybe due to inadequate electricity supply and/or lack of hardware), but the three of the top five countries on Google Trends for Bitcoin are from the continent including Nigeria – the country marked in orange (low adoption) on the map.
Bitcoin adoption also involves such aspects as remittance, mining, acceptance for payments, infrastructure support etc. apart from running nodes.
For example, it appears that Venezuelans aren’t running a significant number of Bitcoin nodes, but the country continues to post massive figures on Localbitcoins.
Unsurprisingly, places like China and Iceland where electricity is cheap but using BTC is restricted tend to be the leaders in mining.
Businesses in countries like Japan and the Netherlands meanwhile are taking initiative in accepting BTC for goods and services.
There are more BTMs in the United States and Switzerland, for example, as there is more emphasis on building Bitcoin-based businesses. Meanwhile, Vietnam and the South East Asian region as a whole are more engaged in remittance.
What is the best way to gauge adoption? Let us know your thoughts below!
Images courtesy of Themetafriend, Bitnodes, Google Trends, Shutterstock
The post Visualizing Bitcoin Adoption Across the Globe appeared first on Bitcoinist.com.
Source: Bitcoinist.com
Original Post: Visualizing Bitcoin Adoption Across the Globe
Customers foolish enough to leave funds at the Canadian crypto exchange QuadrigaCX have a lot to be worried about. According to a post by the company’s board of directors, the platform has lost access to the digital assets it held in cold storage.
Whilst the exchange was only small in terms of active daily users, according to figures from Coinmarketcap, the news once again highlights the importance of users taking responsibility for storing their own digital assets securely.
Less than a month after billionaire and early Bitcoin evangelist Trace Mayer held the inaugural “Proof-of-Keys“event as a display of monetary sovereignty, a Canadian crypto exchange called QuadrigaCX has committed the ultimate blunder – losing access to its own cold storage.
Let's start a new #Bitcoin cultural tradition.
An annual Proof of Keys Celebration on Jan 3rd to declare monetary sovereignty by withdrawing all $BTC held w/ trusted 3rd parties to software we control private keys & do network consensus.
Who is w/ me?
https://t.co/sJhOYSjStH pic.twitter.com/ve9DBsQhh9
— Trace Mayer (@TraceMayer) December 9, 2018
The QuadrigaCX exchange went offline a couple of days ago. Maintenance issues were cited as the reason behind the downtime. However, it has since transpired that the story is goes deeper than routine work on the site.
According to a post by the QuadrigaCX board of directors, the crypto exchange is facing “significant financial issues” that have impacted the service received by its users. The Nova Scotia Supreme Court will appoint an independent third party, Ernst & Young Inc., to watch over creditor protection proceedings happening next month.
The note from the board goes on to state that efforts have been made to fix liquidity issues hindering the operation of the company. Then comes the really shocking admission – QuadrigaCX cannot access its own cold storage:
“For the past weeks, we have worked extensively to address our liquidity issues, which include attempting to locate and secure our very significant cryptocurrency reserves held in cold wallets… Unfortunately, these efforts have not been successful.”
The post concludes by stating that QuadrigaCX will update its users following the hearing on February 5.
The number of QuadrigaCX users impacted by the monumental gaffe does not appear to be enormous since the exchange boasted less that $500,000 in exchange volume across all trading pairs over the last 24 hours it was active. However, numbers aside, the news could not have highlight the point championed by Mayer on Bitcoin’s 10th birthday any better.
Crypto exchanges are the riskiest places to store digital currency. They pose all kinds of dangers to users. As far as we are aware, the QuadrigaCX example is the first of a trading platform simply losing access to its own cold storage solution. Much more common is exchanges being hacked – recent examples include South Korea’s Coinrail and Japan’s Zaif.
Another risk to those deciding to cede responsibility of their own finances to an unregulated, largely unheard of company is posed by the exchanges themselves. Indeed, early crypto exchange Mt. Gox famously collapsed due to spectacularly poor management of customers funds.
Being almost entirely unregulated, there is very little recourse if one of these all-too-common occurrences is responsible for you losing your digital assets.
Traders have little choice but to leave some cryptocurrency on an exchange for long enough for it to be considered at risk. However, they can minimise the chances of losing funds by withdrawing after every session and only keeping a small percentage of their total holdings in an online hot wallet.
Meanwhile, investors, or holders, have literally no excuse to entrust their crypto to a potentially shady company that they know very little about the business practices of. Bitcoin and other digital assets have the potential to grant great freedom to the entire planet. However, with such freedom comes responsibility – chief of which is ensuring that you and you alone know the private key to your chosen crypto storage solution.
Related Reading: Japan Creates Regulatory Body to Prevent Cryptocurrency Exchange Hacks
Featured Image from Shutterstock.
The post Canadian Crypto Exchange Has Lost Access to its Cold Storage appeared first on NewsBTC.
Source: News BTC
Original Post: Canadian Crypto Exchange Has Lost Access to its Cold Storage
Ripple (XRP) has surged tremendously in the past 24 hours but the price has erased most of its gains for the week after running into a strong trend line resistance. This resistance has led to rejections three times in the past but the fact that XRP/BTC is constantly testing this line means that it will eventually be broken. RSI for XRP/BTC is nearing overbought territory but interest in Ripple (XRP) is also on the rise. The price may have room for retracement short term but it would be unexpected for XRP/BTC to decline below the 21 Week EMA. As Bitcoin (BTC) continues to surge higher in the weeks ahead, XRP/BTC is expected to follow suit. Weekly trading volume has started to recover and the trend is expected to continue in the weeks and months ahead.
The XRP/BTC weekly chart shows that Ripple (XRP) is one of the few cryptocurrencies that have resisted heavy declines against Bitcoin (BTC) and were quick to stage recoveries. However, it will now have to either decline further within the descending channel that it is trading in or it will have to break out of it. If the price were to continue trading in the descending channel, it will have to break and close below the 21 Week EMA. This does not seem likely considering it will push Ripple (XRP) into an extensive correction against Bitcoin (BTC). On the other hand, a break above the descending channel will only be likely in case Bitcoin (BTC) continues to resume its rally over the weeks ahead. The number of exchanges offering XRP/BTC, XRP/USDT and XRP/USD pairs is on the rise. Recently, SWIFT partnered up with R3,a blockchain consortium that will use Ripple’s XRP token for transactions.
This was the primary catalyst behind yesterday’s price boost in XRP/USD. However, it was not the only one. The past few weeks, a lot of big banks and financial institutions have been cozying up to Ripple and they are very likely to replace their nostro vostro accounts with XRP as most of them are done testing and they already know that XRP works. From an investment standpoint, XRP/USD is trading just above a very strong support and is now on the verge of a break out. This breakout could easily see XRP/USD trading above $0.50 in no time. Ripple (XRP) has seen a lot of bullish developments throughout the bear market that are yet to translate into its price.
The price of Ripple (XRP) is still down more than 90% from its all-time high of $3.2. There are still plenty of XRP investors that are holding their bags with more than 80% losses but they are confident that Ripple’s best days are ahead of it. That does seem true considering the rising level of interest in Ripple’s XRP token and its adoption by big financial institutions. The SWIFT partnership alone is a big accomplishment and a testament to Ripple’s success as a company that believes in getting things done.
Source: CryptoDaily.co.uk
Original Post: Ripple (XRP) Runs Into Downtrend Resistance After An Aggressive Rally
After the first official announced of the Bison app by Germany’s second largest stock exchange in May 2018, it had been rather quiet around the trading app. After the New York Stock Exchange introduced Bakkt, many retail investors weren’t paying a lot of attention to the project anymore.
But, today, the German stock exchange, Boerse Stuttgart Group, finally launched Bison, a cryptocurrency trading app for retail investors. The stock exchange shared the news of the launch in a tweet:
Licht an, Vorhang auf: BISON IST DA!
Ab sofort in den deutschen App Stores verfügbar: https://t.co/9sYg6STW81#launch #release #finance #btc #release #start #crypto #cryptocurrency #innovation #eth #xrp #LTC pic.twitter.com/5hb8VlFkuL— BISON App (@bisonapp) January 31, 2019
According to the Bison app website, currently, the app only supports the trading of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP). Another subsidiary of the stock exchange, Blocknox, will act as custodian for users’ funds, using an escrow system, according to a press release published on Finextra today.
During the upcoming period, Bison will only be available only in Germany and its services can only be used from 6.00 AM to 12.00 AM CET. That said, the stock exchange announced that it plans to eventually extend trading to 24 hours a day. Access for residents of other European countries will be added by late 2019, while support for more cryptocurrencies is also planned in the future, according to the official press release.
Boerse Stuttgart has also partnered with an external banking partner, SolarisBank, which will process euro payments and provide fiat custodial services, the press release notes.
The post Germany’s 2nd Largest Stock Exchange Launched Crypto Trading App appeared first on Altcoin Buzz.
Source: Altcoin Buzz News
Original Post: Germany’s 2nd Largest Stock Exchange Launched Crypto Trading App
The Colombian-based Panda Group has announced the launch of a cryptocurrency point of sale (PoS) terminal called Xeler that also acts as a portable digital currency automated teller machine (ATM). The hybrid solution installed in Bogotá, at the La Tortata sweet shop, allows customers to not only buy baked goods with cryptocurrencies but can also dispense BCH, BTC, and DAI in exchange for Colombian pesos.
Also read: Florida Appeals Court Defines Bitcoin as Money as Espinoza Ruling Reversed
Panda Group, a company that operates the cryptocurrency trading platform Panda Exchange, has announced the creation of a new brick and mortar digital currency service. On Jan. 22, Panda installed a new portable point of sale device that allows merchants to accept cryptocurrencies with ease. The company’s first installed Xeler device was deployed at the La Tortata sweet shop in Bogotá, so customers can purchase baked goods with their digital assets. Moreover, the machine also allows visitors to conveniently purchase and sell BCH, BTC, and DAI through its integration with the Colombian exchange. Speaking with news.Bitcoin.com, Panda Group’s founder Arley Lozano explained that the machine’s first sale was settled in bitcoin cash (BCH).
Lozano further detailed that the company plans to deploy 20 more Xeler devices throughout the region, due to a recent partnership with a well-known chain of pharmacies. The Panda CEO also told news.Bitcoin.com that the firm is ready to launch 100 hybrid crypto PoS/ATM devices around Colombia and send some to Venezuela as well. As far as commissions, merchants will only be charged for the use of processing sales and the fees are equivalent to alternative payment processor terminals. The device references cryptocurrency exchange rates from the spot market prices in Colombian pesos and Localbitcoins rates.
The company explained that the Xeler machine is a noncustodial system and merchants are always in charge of their funds. Lozano noted that the Panda team calls the device a “BTM” or a “CTM (crypto teller machine).”
“The Xeler BTM is a device that has the ability to buy and sell cryptocurrencies, in addition to processing payments for products purchased with crypto,” Panda Group explained to news.Bitcoin.com. “This makes the point of sale process quick and intuitive for both the user and operator, but above all, the system is secure since the interface is built and designed for the safe and reliable handling of cryptocurrencies.”
The company also said it will be adding more digital currencies to the platform interface in the future. Moreover, with Xeler’s Xpay payment processor system, businesses can settle a percentage of sales in fiat if they do not wish to experience the volatility of crypto prices. Visitors who want to buy or sell cryptocurrencies must undergo a simple registration process, which is performed directly on the device. After the registration is complete, Xeler users won’t have to register again and they can interact with all Xeler devices in the region. Once a purchase is processed, the cryptocurrencies are sent to the customer’s wallet or if they don’t have a wallet, they can obtain a printed voucher for redemption at a later date.
“Merging these two products (PoS/ATM) is a significant achievement for Panda’s operations,” the company noted. “Panda Group is thinking about the needs that exist in the Latin American market, because the ability to buy or sell cryptocurrencies makes it easier for those people who want to begin their voyage into the crypto world — They don’t usually do it because they think they should invest a lot of money but the minimum default amount for using the Xeler device is 50,000 COP ($15).”
What do you think about the Xeler device that allows merchants to sell products for cryptocurrencies but also works as an ATM? Let us know what you think about this subject in the comments section below.
Images credits: Arley Lozano, Panda Group, Xeler, and Pixabay.
Want to create your own secure cold storage paper wallet? Check our tools section.
The post Panda Exchange Deploys Hybrid Point of Sale and Crypto ATM in Bogota appeared first on Bitcoin News.
Source: Bitcoin.com
Original Post: Panda Exchange Deploys Hybrid Point of Sale and Crypto ATM in Bogota
Japan finance giant SBI has issued its nine-month financial report, recognizing Ripple’s potential to lead in the cross-border payments industry
Source: Cointelegraph.com
Original Post: SBI Reports Financial Results, Recognizes Ripple for Cross Border Payments
The world’s leading company in financial messaging services known as the Society for Worldwide Interbank Financial Telecommunication (SWIFT) has announced a partnership with Blockchain R3 Corda. SWIFT currently handles the majority of the information that’s sent worldwide when it comes to financial institutions and the transactions made. The partnership signed with the blockchain tech company […]
The post SWIFT Announced Blockchain Tech Integration appeared first on CryptoCoin.News.
Source: Cryptocoin News
Original Post: SWIFT Announced Blockchain Tech Integration
Cardano [ADA] showed no impressive price movements during the first month of this year. The eleventh-largest cryptocurrency on CoinMarketCap, ADA, burgeoned to a market cap of $1.40 billion on January 10, the highest recorded for the digital coin this month. During the last 24 hours, ADA witnessed a steady increase in its valuation.
At the time of writing, ADA noted a market cap of $1.02 billion priced at $0.039. The total volume of the crypto-coin traded was $28.08 million, with an optimistic 2.31% change in the otherwise stagnant market.
1-hour
Source: Trading View
In the one-hour stint, ADA a moderate uptrend of $0.040 from $0.038 and a downtrend of $0.043 to $0.039 have been registered. The price momentum between $0.0405 and $0.038 was noted wherein the immediate resistance and the support were marked respectively.
The converging Bollinger Band points to a low price volatility for ADA.
The MACD line treading below the Signal line points towards a bearish trend for the coin.
Moreover, the Awesome Oscillator draws a bear picture with the lines in red.
1-day
Source: Trading View
ADA exhibited a mediocre uptrend to $0.043 from $0.039 as opposed to the massive downtrend to $0.044 from $0.082. The resistance for this time period was marked at $0.046 and two supports were noted at $0.038 and $0.030.
Parabolic SAR indicator for the time period of one-day points towards a bear market trend for ADA with the dotted lines aligned above the candles.
The Chaikin Money Flow graph treads below the zero-line, also indicating that the coin’s price movement towards a bear zone.
Klinger Oscillator suggests a bear trend for ADA.
Conclusion:
Indicators such as MACD, Awesome Oscillator, Parabolic SAR, CMF and Klinger Oscillator, all demonstrate ADA’s price momentum in the bear zone. Bollinger Bands, however, exhibited low price volatility and a stable pace for the coin. Also, the CMF graph, which is very close to the zero-line, might potentially move upward to the bull space.
The post Cardano [ADA] Technical Analysis: Bear attack imminent after brief respite appeared first on AMBCrypto.
Source: AMBcrypto
Original Post: Cardano [ADA] Technical Analysis: Bear attack imminent after brief respite
As the bitcoin price gets crushed amid the Crypto Winter, financial commentators are warning stock market investors to not fall prey to reckless buying decisions rooted in FOMO (fear of missing out). As crypto bulls are aware, FOMO was cited as a key driver of the record bitcoin price at the height of the crypto bull market in December 2017. ‘Most Powerful Force In Market Is Fear’ “The most powerful force in the market is fear,” financial commentator James DePorre writes at Real Money. When fear of losing takes hold, it creates powerful downside momentum. And when fear of missing
The post Bitcoin’s Not the Only Asset Driven by FOMO: Why Stock Market Investors Should Be Concerned appeared first on CCN
Source: CCN.com
Original Post: Bitcoin’s Not the Only Asset Driven by FOMO: Why Stock Market Investors Should Be Concerned
The QuadrigaCX exchange says it's been "attempting to locate" its crypto reserves, unsuccessfully.
Source: Coindesk
Original Post: Crypto Exchange QuadrigaCX Files for Creditor Protection
Gains were few and far between in the crypto market over the 24-hour period, with Augur presenting a notable exception while gaining less than 2%. The Bitcoin price remains in disunity across several markets. Bitfinex has it for $3,511, but Coinbase users can buy it for $3,421. Such huge spreads are interesting in that the arbitrage opportunities are so glaring. How long they will persist is more up to the market participants than it is the exchanges. Coinbase Pro had a daily volume of $55 million versus Bitfinex’s $102 million. BitMEX, however, which did three-quarters of a billion dollars in
The post Bitcoin Price Sinks Further from $3,500 as Crypto Market Endures More Losses appeared first on CCN
Source: CCN.com
Original Post: Bitcoin Price Sinks Further from ,500 as Crypto Market Endures More Losses
Japanese IM giant LINE has signed a memorandum of understanding (MoU) with Nomura Holdings to foster the use of blockchain technology at large, this according to a press release published January 30, 2019. Blockchain Solidarity The Nomura Group is a global financial services behemoth which provides services to individual, institutional, and government customers, it was
Read MoreRead More. The post by Aisshwarya Tiwari appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News
Following Bitcoin’s recent drop into the $3,400 region, it has been able to hold support above $3,400 for an extended period of time, which may ultimately prove to be positive for Bitcoin’s price action. It is important to note that Bitcoin (BTC) has not yet been able to break above $3,500, which appears to be a relative level of resistance for the cryptocurrency.
Although Bitcoin has held steady in the mid-to-upper $3,400 range, one analyst still believes it will see further losses before finding major buying support and possibly reversing.
At the time of writing, Bitcoin is trading down approximately 1% at its current price of $3,450. Yesterday, BTC climbed towards $3,500, but failed to break above this price level, leading it to drop today.
After breaking below $3,550 earlier this week, BTC plunged until it reached $3,400, at which point it bounced and climbed towards its current price levels. Because of this reaction to the low-$3,400 price region, it is likely this is the first major support level BTC has established before its 2018 lows exist around $3,200.
Josh Rager, a popular cryptocurrency analyst on Twitter, spoke about Bitcoin’s recent price action, noting that BTC still remains in consolidation, and will not revisit its 2018 lows unless it fails to stay above $3,344.
“$BTC daily chart… This chart has been posted for weeks and nothing has changed… Previous support at $3,344 did not break and bounced at the exact support level… Unless this support breaks, Bitcoin will not retest the previous lows… At this time – $BTC remains in consolidation,” he explained.
$BTC daily chart
This chart has been posted for weeks and nothing has changed
Previous support at $3,344 did not break and bounced at the exact support level
Unless this support breaks, Bitcoin will not retest the previous lows
At this time – $BTC remains in consolidation pic.twitter.com/htSl0ANmfc
— Josh Rager
(@Josh_Rager) January 31, 2019
Although BTC has been able to hold steady above $3,400, some bearish analysts point to the lack of major buying support and equilibrium on a macro-view as a reason why the cryptocurrency may need to fall further before stabilizing and preparing for an upwards move.
Bitcoin could still see further losses despite its ability to hold support above $3,400.
A popular cryptocurrency analyst, Moon Overlord, recently noted that because Bitcoin was unable to form any major regions of support during its parabolic upwards climb in late-2017, it may see significantly further losses before it finds major buying support.
“I don’t know what the plan for $BTC on the monthly is, where would you even set bids or start buying. It went up so quickly it didn’t build a single support on the way up,” he said.
I don't know what the plan for $BTC on the monthly is, where would you even set bids or start buying.
It went up so quickly it didn't build a single support on the way up. pic.twitter.com/NfEjnDdRaG
— Moon Overlord (@MoonOverlord) January 29, 2019
Late-yesterday, he doubled down on these recent comments, adding that the lack of major buying pressure at BTC’s current price signals that it may still be bearish on large time frames.
“Not sure why more people aren’t talking about $BTC on high time frames, feels pretty bearish to me Where is the buy support / equilibrium Doesn’t seem like people are dying to buy in this range?”
Not sure why more people aren’t talking about $BTC on high time frames, feels pretty bearish to me
Where is the buy support / equilibrium
Doesn’t seem like people are dying to buy in this range ? https://t.co/95FSXBnAaK
— Moon Overlord (@MoonOverlord) January 31, 2019
If BTC fails to hold above $3,400 in the near future, it will likely find greater buying support in the low-$3,000 region, which will be an important level for bulls to protect or significantly further losses could be in store.
Featured images from Shutterstock.
The post Bitcoin (BTC) Holds Steady Above $3,400, But Analysts Still Believe Further Losses Could Be in Store appeared first on NewsBTC.
Source: News BTC
Original Post: Bitcoin (BTC) Holds Steady Above ,400, But Analysts Still Believe Further Losses Could Be in Store
In the recent Samsung Galaxy S10 leak, there was a picture that reveals a built-in cryptocurrency app developed by Samsung. The leak reveals the Samsung Blockchain KeyStore app which appears to be a cold storage wallet for cryptocurrencies where the user’s wallet is stored anonymously on the blockchain network. The Blockchain KeyStore app may allow […]
The post Inside Look: Samsung Blockchain KeyStore App for the Galaxy S10 appeared first on The Daily Hodl.
Source: Daily HODL
Original Post: Inside Look: Samsung Blockchain KeyStore App for the Galaxy S10
The CEO of Zillia (ZIL), Xinshu Dong, commented that the project is implementing sharding for the first time. Sharding is an implementation that makes blockchain much more scalable. […]
The post CEO of Zilliqa Says Sharding Implementation Works After Releasing its Mainnet appeared first on UseTheBitcoin.
Source: Use The Bitcoin
Original Post: CEO of Zilliqa Says Sharding Implementation Works After Releasing its Mainnet
