ETH/USD Technical Analysis: What can we Expect Next?

Ethereum, which was launched in 2015, is the second largest cryptocurrency after Bitcoin in terms of market capitalization. It was trading sideways for two years, at around $ 10, until 2017. That was the year of the “Gold Rush” for cryptocurrencies, and the ETH price started to increase in March. The ETH/USD had jumped to $ 50 by the end of that month, which meant a 500% increase. That was a sign that the market was changing, and a wave of buying was coming. We saw a retrace in July and September, but that year turned out to be extraordinary for digital currencies overall.

The double top pattern points to $ 650 for Ethereum

Ethereum surged to $ 1,425 by January 2018 and closed at $ 1,120. 2018 turned out to be the opposite of the previous year, as the Gold Rush ended and the crypto market started reversing back down. Although, that wasn’t a big surprise, given the extraordinary and sudden surge in 2017. The decline in 2018 was also quite straightforward, with 8 bearish monthly candlesticks. In the first half of 2019 and in January this year, buyers have tried to reverse the price higher, but they were short-lived both times, showing that the pressure remained to the downside for Ethereum, as highs were getting lower. We saw another attempt to the downside in March, when the coronavirus broke out in Europe, turning traders to the USD. But the support below $ 100 held once again, and since April, Ethereum has been increasing, getting pretty close to $ 500 in September.

With the two attempts at $ 80 to $ 90, and the consecutive failures to break below that level, we can see that a double bottom pattern has formed in the ETH/USD. The high in June last year came at $ 370, so the target from the top should be as big as the distance between the bottom and the top. That means that Ethereum should increase another $ 280 above $ 370, to $ 650, if the double bottom pattern is to work out. The price has moved above June’s high now, which was the high point of this pattern. That validates the pattern, so $ 650 is really the target now, and our Ethereum price prediction from the monthly chart analysis points to this level.

Ethereum Analysis Off the Weekly Chart – Third Time Lucky?

On the weekly chart, the price was finding solid support at the 20 SMA (gray) during the uptrend in 2017. Ethereum formed a resistance zone around $ 400, and buyers were finding it hard to push above that level. But the 20 SMA kept pushing the price higher, and eventually the resistance at 400 was broken. This level was quite important for Ethereum, since it turned into the ultimate support and resistance zone, as we will see further below in this Ethereum price prediction.

The next bullish leg should start soon

As we know, the ETH/USD surged to $ 425, where it remained until December that year, but then the reversal came and the price crashed lower. The 20 SMA held in the first attempt in the second week of February, despite being pierced, but it was eventually broken. However, the previous resistance zone at around $ 400 turned into support this time, and after a small doji candlestick above that level, we saw a retrace higher to $ 840. The price pushed above the 20 SMA briefly, but then reversed down and fell below all moving averages, until it reached $ 80 at the end of 2018. As we mentioned above, the ETH price increased during H1 of 2019, but the area around $ 400 turned into resistance again, with a bit of help from the 100 SMA (green). The price formed a doji here, which is a bearish reversing signal after the retrace higher, at which point the price turned lower.

The second upward retrace took place during Q4 of 2019, as the sentiment for cryptocurrencies improved, but the retrace ended after a doji candlestick at the top once again, just below $ 300. This time, the 200 SMA (purple) provided resistance. Both times, the stochastic indicator was oversold, also indicating a reversal down. This time though, the bullish move since the middle of March doesn’t look like a retrace. The price has moved above the $ 400 level and moving averages are now turning into support, suggesting that the pressure has turned to the upside for Ethereum. In the last few weeks, we have seen a consolidation at around $ 400, but the stochastic indicator is approaching the oversold area, and the moving averages are getting closer, so the Ethereum analysis tells us that the next bullish leg is expected in Ethereum soon, although it will also depend on the sentiment in the crypto market.

Ethereum Analysis Off the Daily Chart – Buyers are Back in Control

There’s a lot more noise on the daily time-frame chart and the volatility looks much higher in lower time-frame charts, although they still show the market behavior, and we can spot the trends. During 2019, the ETH price was trading in a range, which showed consolidation, although the bias was bearish, as highs were getting lower, but at least we were not seeing any new lows. Moving averages lost significance, as they were broken many times, but they helped indicate buying or selling opportunities, as the price was moving up or down in this consolidation period.

Ethereum is trying to break the 20 and 50 SMAs now

But now, it seems like the consolidation period has ended and buyers have come back onto the scene. The crash from the initial coronavirus panic ended pretty quickly and the price reversed higher, surging more than $ 150 until June, then a consolidation period followed. The bullish momentum retumed, lasting until September 1, taking the ETH price to $ 485, while now, according to the Elliott Wave Pattern, we are in another pullback/consolidation period, before the next bullish leg starts.

During the bullish move of the last few months, the 50 SMA (yellow) did a good job as support, pushing the price higher, and the 20 SMA also helped occasionally on the daily chart. The involvement of smaller moving averages, as support indicators, shows that the pace of the bullish trend was quite strong. So, the third bullish leg should start soon, and it might have already started, but the 20 and 50 SMAs are standing on top now, and they rejected the price initially. However, the price turned back to them pretty quickly, indicating buying pressure, so it will only be a matter of time before these moving averages break. Therefore, the price action in this time-frame also points up and the Ethereum analysis from this time-frame is $ 650 for several months ahead.

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The biggest crypto trends that shaped 2020

Crypto started off with a bang, but later in March, just like many other sectors, it started to fluctuate because of the COVID-19 crisis. Many skeptics expected Bitcoin to drop and for the pandemic to mark the beginning of the end for crypto, but things didn’t go that way. In fact. The drop of cryptocurrency and the drop of the stock market were only correlated for a short while, and Bitcoin’s drop was mainly a liquidity issue because, like gold, it was oversold. In reality, crypto made a quick recovery and even consolidated its role in the “new normal.” Experts estimate that COVID-19 will only normalize crypto payments and that, though unfortunate, it will accelerate the digital revolution. So far, 2020 was a good year for cryptocurrency, and we saw the advent of some exciting trends that will shape the market going forward.

Widespread adoption by institutional investors is by far the most notable one – banks are beginning to accept digital currencies and running pilots on wholesale payment systems. This year, six major central banks (England, Canada, Sweden, Japan, the European Central Bank, and the Bank of International Settlements) have joined a joint initiative to research the potential of cryptocurrencies. Apart from this major movement, other trends that stand out in 2020 include:

The cashless transition

The world was bound to become cashless eventually, but digital crypto payments could become the norm sooner than we think. To limit the spread of the novel Coronavirus, the World Health Organization recommended people to make contactless payments instead of cash payments, and concerns about hygiene were a pretty persuasive driver, even for skeptics. If we look at the official stats, we’ll see that the number of Blockchain wallets has been growing consistently, reaching over 50 million users at the end of June 2020, compared to 47% at the end of March. What was quite rare before the pandemic now becomes more acceptable among mainstream users, and the fact that institutions now encourage cryptocurrency made it obvious that this is not just another passing trend.

The cashless transition was also sped up by the fact that now more stores accept bitcoin as a valid payment method. During the pandemic, online retail experienced a massive boom, especially in categories such as groceries, electronics, and personal hygiene. At the same time, games and streaming services grew in popularity, and, as a result, crypto payments increased on their websites too. Even after the pandemic is over, most users who got used to crypto payments will likely continue to use them, and this will push more retailers to consider implementation.

Crypto Forex trading

For many years now, the worlds of traditional and alternative trading were separate. Either you traded Forex, or you traded crypto. The differences in mentality were also quite different: people who traded traditional currencies tended to be more conservative and risk-averse, while the ones who traded crypto were younger and more likely to invest in innovative technologies. Now, however, with crypto becoming a bigger part of the world of finance, Forex and crypto trading are no longer that far apart.

Many Forex brokers now allow account funding with Bitcoin and major cryptocurrencies such as Ethereum, Tether, Litecoin, Dashcoin usually in combination with fiat currencies. So, instead of training in pairs like EUR/USD or GBP/USD, you can now trade pairs like BTC/USD or LTC/USD. This has added a new dimension to currency trading, and more and more people are beginning to use their digital currencies on the Forex market. Among the biggest benefits of trading Forex with Bitcoin is that digital currencies are decentralized, so they aren’t influenced by inflation and interest rates. In addition, Forex brokers usually offer high leverage to crypto traders, which is a big plus for veterans. Other reasons why more people have started to trade pairs like BTC/USD include:

  • Lower costs of trading and low deposit amounts: this is especially tempting for beginners
  • Financial security: when trading crypto, you don’t need to reveal your bank account
  • More freedom: when trading crypto you have fewer geographical boundaries than when you are trading fiat currencies

Of course, like regular trading, crypto Forex trading involves a certain degree of risk too, especially for beginners, but the fact that so many people have decided to try it goes to show that cryptocurrencies have had a major impact on the trading world.

Interfaces that appeal to mainstream users

In its early days, cryptocurrency was a niche investment for a certain “geeky” market. The people who had bought Bitcoins were the people who mined them themselves, knew someone who did, or liked investing in anything new, tech-related, that showed promise.

Over the years, crypto has slowly transitioned from being a niche investment to a less obscure one, and, in 2020, it has almost become mainstream. If they don’t own crypto themselves, people know someone who does, and how digital currencies work in general. To appeal to this growing mass of mainstream users, crypto services have made interfaces more appealing and easier to use, so that you don’t need to mine Bitcoin or be a crypto expert to get around them.

The rise of decentralized finance (DeFi)

Although cryptocurrencies are thought to be the highlight, decentralized finance (DeFi) has been picking up steam since the end of 2019, and in 2020 it reached new heights. In the past month alone, the total value locked in DeFi surpassed $4 billion. Generally based on Ethereum, decentralized finance consists of a wide range of financial services (lending apps, dex platforms, derivatives, stablecoins, etc.) that do not rely on a central authority.

DeFi applications have a flexible user experience and, in general, they aim to be simpler alternatives to traditional financial services, because there are no gatekeepers. For example, loans can be negotiated directly between two parties from different parts of the world, without a bank having to intervene. Other applications of DeFi apps include exchanging assets and implementing advanced trading strategies.

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Bitcoin Could Change the Global Financial System, Right When We Need It the Most

In the face of necessary change, bitcoin and blockchain could reasonably supply the much-needed compromise between what is, and what could be.

In the wake of current events, the majority of the global population has been given a choice. A chance to reset many of the systems that have been irrefutably shown to fail. While it’s not necessary to fully condemn present systems of governance, finance, and social constructs- it is important to accept their failings and ask for something better.

Given the unprecedented glimpse into the more intimate and intricate shortcomings of existing systems, we have also been shown an idea of best practice moving forward. As countries and their individual populations have banded together in both macro and micro scales of economy and society, we have been shown that working together seamlessly can produce favorable results. While it may sound trite- we’ve been shown that teamwork does indeed make the dream work.

In light of the novel coronavirus, we’ve been shown that those countries that have worked closely with their own citizens and the citizens of the world at large have fared best- while others that have shut themselves off to both the failings and triumphs of others have seen near total devastation. Particularly in the latter, we’ve seen a surge of new users and renewed interest in cryptocurrencies. As new users flock to exchange platforms like Bitvavo, hoping for a helping hand in understanding an alternative for the economies that are failing them. While seasoned investors continue to proselytize the brilliance of decentralized finance.

Failings of a Legacy System

Perhaps the biggest problem with the legacy financial system is how prone it is to manipulation. From lending bias to inflationary practices, our current financial system is clearly broken. Much of this manipulative practice comes from the idea of centralization. They will always be a human element behind any decisions made in our current financial system, and humans are… well, human. They’re prone to error, greed, and emotional bias.

Building a system of finance based on an individual human ethos is bound to spell disaster to someone. Discriminatory practices based on income, race, religion, or any number of other factors happen every day, even if we don’t actually intend them to. As each person has inherent bias, it’s nearly impossible for us to be purely objective.  This is where cryptocurrencies like bitcoin step in. These digital tokens, coupled with DeFi systems can realistically create a beneficial parallel to the system we currently have. Mimicking many of the processes that fit nicely, but completely removing the human element, opting for something far more objective.

Something Borrowed, Something New

Coupling computer technology with existing structures could be a way to efficiently transition into a decentralized, digital, cashless society. While the term may raise hairs for some, cashless is coming- whether we want it to or not. Largely, those in opposition to the idea, are really opposed to centralized power structures; and in our opinion, rightly so.

The idea of a centralized cashless society does indeed come with a fierce amount of overarching governmental control, with many left behind. Among those being the unbanked, underfunded, and largely forgotten members of our respective societies that already feel the alienating pressure of our monetary systems. Centralized cashless would only serve to bolster those positions.

Despite a decentralized financial network seeming like the optimum compromise between what we have now, and what we need for the future- it may not be so simple to implement. There is still concern that decentralized networks can shift towards more centralized paradigms should key players interact irresponsibly. Think of the whales of bitcoin, and the influence they’ve been said to have. Or consider the bitcoin mining process, in which the majority of mining practitioners could realistically be held by one or two large conglomerates, essentially dissolving a decentralized structure.

While both bitcoin and other cryptocurrency networks, and the DeFi systems that are currently being built are doing everything within their ability to create systems that are free from centralized influence, it’s still a difficult balance to maintain. Should one or two large stake holders decide to irresponsibly weird power, the decentralized infrastructure could topple. In order to endure a truly decentralized system, it has to be something built with ubiquitous adoption and support.

Securing a New Ethos in a Familiar System

This total support starts with an appreciation and support for decentralized networks. Something that is a common and base goal among all investors, operators, and service providers. Just as investors of all creeds and income brackets will require equal opportunity to buy in, network operators will have to ensure that there are a wide range of open source participatory and regulatory systems. Meaning that every investor holds the same amount of sway over how the network itself operates.

These systems are in existence today, and are continuing to be built and refined. Security and participation tactics are something that are constantly being scrutinized and cultivated to provide a better working system for all. Service providers must also help ensure this purely democratic infrastructure, either by integrating more AI and cryptographic technologies, or opening up their own network structures to the user supported functionality. DApps and Smart Contracts are excellent adjuncts to centralized power structures.

In reality, many of the necessary technologies needed to support a democratically decentralized financial network already exist. Ensure their longevity, accessibility, and security are aspects that are constantly being considered. With a continued curiosity and support for a decentralized global network of finance, we can build ourselves a better future- one that is controlled not by the few, but by all.

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3 Skyrocketing Cryptocurrencies to Buy in 2020

This year is proving to be quite fruitful for cryptocurrency HODLers. The king of crypto, Bitcoin, rose 3x from around $4,000 to just over $12,000 recently. Many of the altcoins have followed. 

The current question on many cryptocurrency enthusiasts mind’s is…which coin to invest in now?

2020 is proving to be a remarkable year for assets. Gold hit all time highs, so did the NASDAQ, and even Bitcoin looks poised to make a run for its all time high of $20,000. 

What are the criteria to look for when choosing the three best cryptocurrency to buy now in 2020 that could skyrocket?

Spot a Skyrocketing Crypto by Keeping Up With the News

Knowledge is always the first and best tool when it comes to spotting the next rocket ship in the crypto game. 

Find a solid crypto news source and stick to it daily, even multiple times daily, if you have the time. 

If you can catch crypto news on small sites before it hits bigger sites — then you’ll be able to stay a step ahead and board the rocket ship before it launches. 

Spot a Skyrocketing Crypto by Trying Their Project

The projects which earn the most money are the ones which provide the most value to their customers. 

The wild days of the ICO — when companies could make incredible money simply by making big, bold promises — are over. These days users in the cryptocurrency space are much more savvy and knowledgeable. They want to see working products, traction, and happy user reviews.

You can be sure that a company which delivers quality products will be one with a bright future. 

The best way to spot that is to try to be a customer yourself. 

The cryptocurrency Beam springs to mind. Since their launch they’ve focused on rolling out updates to their blockchain, software, and wallets. All this to help their users regain their financial privacy and keep control over their keys and funds. 

Spot a Skyrocketing Crypto by Reading About Their Innovations. 

A project and coin doesn’t need to only give products and value to their direct customers. They can also be delivering value for the community as a whole.

Enjin is a company that has been developing video games since before bitcoin even existed. When they discovered Ethereum and the capabilities of the blockchain, they incorporated those abilities into their work. 

They’re the ones pioneering and championing the ERC-1155 smart contract — which is a contract with the ability to provide better smart contract functions for collectible items. An article explains it like this:

“While ERC-20 and ERC-721 tokens required a new smart contract deployed for each new “class” of token, the core concept behind ERC-1155 is that a single smart contract can govern an infinite number of tokens.

Think of this like a vending machine that holds a wide variety of soda, juices, and even snacks. A customer interacts with the machine using a single secure interface (inserting a coin, pressing a button), and the machine dispenses the goodies they have selected. In the same way, an ERC-1155 contract made for a game could contain a wide variety of items, from weapons and armor to health potions, magic scrolls, and more.

Each of these items could be “fungible,” having more than one copy available. Fungible tokens are used for divisible currencies (most ERC-20 tokens), and they’re also very useful for stackable items that don’t need to be differentiated, like a bundle of arrows for a bow.“

These types of innovations help the whole ecosystem. This type of help drives up the price of the cryptocurrency native to the company as well as the prices of the coins which are also part of the ecosystem. 

Never Forget the King of Crypto

In the end, if you want to buy a cryptocurrency in 2020 that might skyrocket — you might not need to go any further than Bitcoin itself. 

The famous Stock-to-Flow model for Bitcoin is predicting a shot at $100,000 in the future. 

If you’re not experienced in trading other altcoins or simply don’t want to risk your funds on their projects — then putting a little bit into Bitcoin might be the way to go. 

Of course, as with all of these cryptocurrencies, never spend more than you’re afraid to lose….not only because you might lose all your money, but also because if you’re emotionally tied to your crypto then you might sell too early or buy/re-buy too late. 

Just like it was said at the start of this article — arm yourself with knowledge. Read more about these cryptocurrencies and many others. Then you can decide how much you want to spend and where to put it so that you can gain the most from the combination of your risk appetite and your circumstances. 

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PumaPay is paving the way for mass crypto adoption

PumaPay is one of the most innovative providers of a fully decentralized blockchain-based payment system. Since their establishment, the company has maintained that its vision is to be one of the frontrunners in supporting mass crypto adoption. To date, PumaPay continues to refine their technology, adding new features that are slowly helping their vision come to fruition. The latest developments are no different.

With their new hybrid solution, PumaPay differentiates itself from other payment service providers. Combining crypto with traditional finance, their service now enables payments to be made and received in any currency, with the PMA token acting as a means of value transfer, by virtually anyone from merchants of all varieties to end-users. With measures in place to ensure zero exposure to volatility for all parties and easy onboarding and offboarding to crypto the PumaPay solution offers maximum utility to all.

PumaPay CEO, Yoav Dror, said: “By providing innovative and much-needed developments ready to be utilized in the emerging crypto space, we bring the community one step closer to mass crypto adoption. As of today, we have managed to close the loop and offer a fully comprehensive, blockchain-based payment solution that mitigates widespread concerns regarding accessibility, regulation, volatility and usability.”

With that in mind, let’s review some of PumaPay’s groundbreaking contributions:

· The heart of their PullPayment Protocol; a variety of customizable billing models, such as their innovative Recurring and Auto-Up Schemes. Utilizing smart contract architecture, these billing models were designed to offer maximum utility to businesses in their daily transactions.

· A fully decentralized, native app: the PumaPay Cryptocurrency mobile wallet. Available for Android and iOS devices, the app enables the sending, receiving, and storing of main cryptocurrencies, such as: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), as well as all other ERC-20 tokens.

· Streamlined, in-app cryptocurrency exchange services that allow for easy conversion from other cryptocurrencies to PMA.

· Encouraged merchant-customer trust via easily accessible, in-app refund requests.

· Fully compliant user onboarding that adheres to the 5th Anti-Money Laundering Directive and the KYC verification process. PumaPay has also gone as far as to ensure that their solution is compliant with current AML laws but is also future proof for future developments in the field.

· A comprehensive payment gateway, the PumaPay Business console. This platform empowers merchants with the ability to accept crypto, set up customized billings models, as well as manage and optimize their payment flow.

· Zero exposure to crypto volatility and guaranteed full liquidity with the PumaPay Fiat Settlement Layer. With this service, the currency rate is “locked,” thereby eliminating volatility risks and enabling offboarding from crypto to fiat. Further, merchants also have a straightforward means to withdraw funds and directly transfer into their bank account.

· In-app banner placement that provides clear, uninterrupted communication channels between merchants and their respective customers.

· A comprehensive PSP API solution that supports seamless integration for PSPs and their merchants/businesses looking to accept crypto as a means of payment. These advanced tools also aid in easing the onboarding process for clients whilst also providing PSPs with access to all features of the PumaPay PullPayment Protocol.

· Full certification by the Payment Card Industry (PCI) and Data Security Standards (DSS). This has and continues to ensure that PumaPay adheres to the highest safety standards and application of anti-fraud prevention measures. In complying with global data security standards, they keep their users’ data safe and secure.

· Easy integration with a fully documented API.

· An open-source developer hub space completed with all necessary documentation, product library and guides available at Wiki PumaPay.

· Finally, PumaPay’s most recent development, the “Buy Crypto” service, enables PumaPay wallet users to purchase cryptocurrencies within the app with a credit/debit card. Combined with the ability to exchange crypto to PMA from within the wallet, and the Fiat Settlement Layer, PumaPay is ‘closing the loop’ and creating a complete payment system that is connected to the traditional financial system at its endpoints, allowing easy onboarding and offboarding. In the coming weeks, they will improve the process even further, allowing direct purchase of PMA tokens with credit card from within the wallet.

Going forward, PumaPay has already started to provide some insight into their blueprint for mass crypto adoption. A snapshot of some of the projects they are currently looking into includes:

· The introduction of their very own Side Chain which will provide users with an improved, more competitive service, by expediting transaction settlement times and lowering GAS fees.

· US token– a new project that will hopefully allow PumaPay to offer l tokens to US-based clients, whilst fully complying with US Government regulation.

· Decentralized Finance (DeFi) – a staking mechanism that will offer PMA token holders with the ability to earn money for their holdings.

In paving the way towards mass crypto adoption, PumaPay is maintaining their momentum by consistently providing their users with cost-effective, simple, and efficient means to manage and process their payments. From their billing models to the PumaPay crypto wallet, their services are designed for maximum utility by anyone; whether you be a user wanting to purchase services with crypto or a merchant looking to engage customers and maximize your revenue!

SOURCE: PRESSAT

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Crypto Investors are Not Profiting

On-chain data shows that crypto investors are not taking profit, however, they are still holding on even in the face of economic uncertainty and the strong performance of bitcoin.

It may come quite shocking but by the data on the 15th of June, 60.63% of all of the bitcoin has not moved an inch for over a year even though it peaked a couple of months ago and reached its highest in the last 2 years. This information comes from Glassnode, which is a blockchain data and intelligence provider which develops applications that provide new ways to gain insight into blockchains and cryptocurrencies. The data suggests that the bitcoin (BT) owners are consolidating and investors who have acquired the crypto in 2018 are not willing to sell their investments. This is the largest supply sitting inactive for almost 4 years now.

Lots of cryptocurrencies and bitcoin, in particular, are affected by loads of different aspects. For instance, the socio-economic problems in the United States of America have shifted the pricing for the bitcoin a couple of times during the last months. The protests caused by the death of George Floyd fueled the long-brewing emotional response from the people and black minorities in particular to systemic racism. With the President of the United States, Donald Trump, being actively involved in the dissolution of the situation as he commanded the national guard to move in and assist the police with some of the more aggressive parts of the protests have shifted the price of bitcoin to $10,500, which is the peak price since its last jump couple of years back.

The way active bitcoin traders have been dealing with trading bitcoin has been the use of stop loss and take profit orders, which gives them the ability to close the trade as soon as the price hits bare minimum for them to make a profit. This means that the traders are staying on the safer side while still maintaining their financial stability and avoiding big losses. The matter of fact is that the market may start shifting at any time. This may happen when the trader is sleeping or out on their business. One cannot sit next to the computer 24 hours 7 days a week watching the charts. Thus the tools at hand have come in extremely handy.

The ongoing issues with the novel coronavirus pandemic, which rocked the world and resulted in the massive lockdown of borders unseen before have also disrupted all of the markets making trading that much more dangerous. However, for a vigilant trader, it still leaves the opportunity to make huge gains. This is exactly what has caused the shocking bearish tendencies on the market with bitcoin that Glassnode has uncovered.

One of the methods used to analyze inactive bitcoins is to group them using the length of time they’ve been inactive. This method was pioneered by the Austin, Texas-based Unchained Capital. The method has been named “HODL Waves.” It is a visualization that shows the cross-section of the wallets where bitcoins are held and groups them by the amount of time since they have been moved.

The term “HODL” stands for “Hodled” and represents the behavior of people who are just sitting on bitcoin with no intention of using them. The co-founder and the CSO of the Unchained Capital, Dhruv Bansal, has stated that the HODL wave represents the people “who bought bitcoin on the way down from $6,000 to $3,000 in 2018 are still holding it despite the tremendous gains since then and the recent economic turbulence.”

The two segments that have grown during the last couple of years are the bitcoins held for more than 10 and the ones that have been locked up for 2-3 years. The increase has happened by 31% and 26% respectively. The 2-3 year one represents the coins held from the 2017 market all-time high to present.

There are numerous reasons why the “hodling” can happen though. It may not even be due to the fact that someone just wants to sit on a bitcoin but rather maybe they have bought it up way back in the day and have forgotten all about it, or maybe they cannot log back into their Coinbase or have lost Trezor (wallet). It is also, sadly, true that some of these people may just be deceased without their family or friends ever knowing about them owning the bitcoins in the first place. Back in 2010, no one knew bitcoin would be hitting such highs. There was even a time when Laszlo Hanyecz bought 2 pizzas with 10,000 bitcoins back in May, 2010. The media was all lit up with the first official sale made with cryptocurrencies. This was the time when bitcoin was a little over 1 year old. Most of the people back in the day just bought it for the laughs. Some have kept on them and accumulated immense amounts of riches, while others, unfortunately, have lost their lifetime opportunity to strike the jackpot. However, when it comes to Laszlo, he states that there are no regrets from his side.

The first quarter of 2020 has been extremely volatile. Ongoing macroeconomic uncertainty and the increase in the amount of bitcoin just being stashed away in traders’ wallets just gives the incentive that a lot of people still believe in their purchase. One thing is for certain though, the bullish pattern is quite apparent in traders all over the world right now. And as Bansal has also stated: “If you believe bitcoin’s price history repeats or at least rhymes, then this may be a bullish sign, the market consolidating into strong hands as macro trends highlight bitcoin’s value proposition.”

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Casinos are embracing cryptocurrency

Cryptocurrencies are the disruptors of the financial world order, making daily strides in moving towards the goal of changing the world. When Bitcoin just showed up, few believed in its concept, but as the time passed, people started to notice all the good that it brings to the table. One of the first industries to truly embrace the cryptocurrencies were the online casinos. In the beginning, there were stand-alone Bitcoin Casinos, providing no other payment options but the cryptocurrency. Later Standard Gambling Websites started to incorporate Bitcoin and others into their payment systems as an alternative to FIAT currencies. There are several major reasons behind the fast-paced adoption of cryptocurrencies into the world of gambling.

Bitcoin Casinos enjoy blistering speeds of transactions.

Thanks to blockchain technology, BTC Casinos enjoy the benefits of extremely fast transactions and transfers. If we look at the casinos that don’t have cryptocurrency as the payment option, their processes lack the speed that Bitcoin Casinos benefit from. What standard online casinos do in days, Crypto Casinos can do in a matter of minutes. The reason behind that is the fact that former use 3rd party financial institutions like Banks, to provide the transaction options to their players. Bitcoin Casinos on the other hand deal directly with the gamblers, using the blockchain technology. Both Deposits and Withdrawals are lightning fast, completing any operation in a matter of minutes.

Bitcoin Casinos are Significantly More Secure and Anonymous

Another reason behind the fact that Casinos all around the globe are embracing cryptocurrencies is the factor of security and personal safety. Bitcoin Casinos have long been using blockchain technology to their advantage. The gift of this system is the ability to stay completely secure and hidden from any unwanted attention. Since the system is decentralized, gamblers are supremely safer from any form of fraud with cryptocurrencies. Another major factor is the ability to stay absolutely anonymous. Cryptocurrency transactions don’t require personal information, making the gamblers hidden from any possible online threats that plague the world of FIAT Currencies.

Provable Fairness

Another one of the significant advantages that lead Casinos to switch to crypto is the Provably Fair systems. This technology is synonymous to Bitcoin Casinos and is used to provide factual evidence of the fairness of the games. Based on the SHA-2 hash algorithm technology, Provably Fair games show the detailed process within the game, using Hash numbers that can be viewed, before and after the gameplay to ensure fairness. This is a tool unlike any other in the gambling industry, because it serves as a bridge of trust between the players and the Casinos.

The best of the best of the crypto gambling world are easy to find through the popular review websites, like for example; BitcoinGamblers, which provides a comprehensive list of the Bitcoin Casinos that fully support the provably fair concept.

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THE KUAILIAN ECOSYSTEM, BRINGING BLOCKCHAIN TECHNOLOGY TO THE WORLD

10 years have passed since the birth of Bitcoin and the first use of Blockchain, a technology that has not stopped evolving, and it is no wonder. Blockchain has opened a huge world of opportunities for both large companies and individual users, not only for the development of new applications or improvements to computer systems but for the possibility of obtaining rewards through cryptocurrency mining, thus creating a market which is more competitive every day. In this sense, we see that individual users have gradually been left out of the “traditional” cryptocurrency mining market, and that is why today we want to introduce you to the Kuailian ecosystem.

What is Kuailian?

Kuailian is a decentralized ecosystem that offers us tools to access the world of cryptocurrencies in a simple way (buying and exchanging cryptocurrencies at its crypto bank).

Registered in Estonia, one of the most advanced countries in the world as far as the blockchain is concerned, Kuailian brings market resources based on blockchain technology to all its users, taking over the management of all systems, thus allowing access to the different services without having to have great knowledge and large amounts of cryptocurrencies.

Main attributes of Kuailian

Certainly, it is very difficult to choose a single characteristic that can define an ecosystem like that of Kuailian, however, the honesty and transparency with which the company operates must be highlighted and indeed in an exceeding way, since thanks to blockchain technology itself, it allows us to consult the operations and movements of the company in real-time. By dedicating as much time as necessary, you can track all movements and operations and make sure that cryptocurrencies are working and generating results (remember that blockchain records are public and immutable).

Additionally, you can consult the legal records of the company in Estonia and the two licenses issued by the financial regulator of that country.

Operation of its Smart Pool and Proof of Stake technology

With the appearance of Bitcoin, Proof of Work or proof of work mining began, where it is necessary to have powerful computer equipment that becomes obsolete in a short time and, also, entail enormous energy expenditure by having them work tirelessly day after day. But not all cryptocurrencies use this validation system, in other cases the mining called Proof of Stake or proof of participation is used, where to validate operations you have to be in possession of a predetermined amount of cryptocurrency that works with this system. Under this premise, Kuailian helps us by creating large cryptocurrency exchanges that allow validating operations and generating rewards for it.

But technological evolution does not stop (and neither does Kuailian’s evolution). The most modern and powerful networks use new consensus protocols. Many people already know that Kuailian works with Master Nodes, which in summary are validators of high-performance operations and one of the main products they work with, but today in Kuailian different consensus technologies are supported such as: PROOF OF STAKE, DELEGATED PROOF OF STAKE, THRESHOLDED PROOF OF STAKE, MASTERNODES, PROFIT SHARE, PROOF OF AGREEMENT, PROOF OF HISTORY, PROOF OF AUTHORITY, TENDERMIT, HIGHWAY, BYZANTINE FAULT TOLERANCE (BFT), NON-BFT, SHOW, MULTI-BFT BFT, ASYNCHRONOUS BFT – FUTURE CASPER AND OUROBOROS.

This is where Kuailian’s ability emerges to make accessible to ordinary people something that would otherwise be… impossible. Both for the amount of cryptocurrencies necessary and for the knowledge required to deploy it. Thus, Kuailian uses a 1000-day long-term staking strategy and simple way staking (Stake / Unstake), which will be incorporated shortly.

Automations in Kuailian

Kuailian has grouped and divided the Master Nodes, so that they are accessible to all, thus allowing access to part of the rewards generated by their Smart Pool.

Next, we explain how the -simple- entry process to Kuailian is.

  1. Create a Kuailian account.
  2. Complete the KYC (since we are talking about a company legally registered in the European Union) and pay the registration fee ($ 50.95 paid in Ether).
  3. Buy the Kuais we want, at the price of $ 100 each (paid in Ether). A Kuai is not a token and it is not a cryptocurrency, it is the unit of measurement of the staking capacity of a license to operate the software, for 1,000 days. The more licenses, the higher returns.
  4. Indicate the Ethereum wallet where we want to collect the daily distribution of benefits.

The usability of the Kuais should be noted. On the one hand, it is accessible to everyone due to its low cost, and, on the other hand, it manages to channel users’ cryptocurrencies to the Smart Pool, that is, the system that Kuailian has developed for automated management of user cryptocurrencies and Master Nodes. Thus, it is achieved that each week new Master Nodes can be deployed through the new licenses acquired by both new and existing users.

All contributions are managed by a Machine Learning system, whose function is not only to assemble Master Nodes automatically but also analyzes the cryptocurrency market to determine that Master Nodes are the most profitable and with sufficient liquidity to be able to extract without problems the rewards generated and at the same time that the Master Nodes themselves can be liquidated, thus passing both the rewards and the Master Nodes to Bitcoin or Ethereum

Last but not least, it should be noted that the benefits generated by user contributions are distributed daily and automatically directly to the user’s wallet. A great advantage since we usually have to deal with interfaces that require a minimum amount of withdrawal, delays when making payments manually or even depend on authorization to, in the end, have your own money. Kuailian in its clear commitment to transparency, offers an automated dispersion system developed on the Ethereum network or commonly called the Dispersion Smart Contract, whose function is to distribute daily and without the possibility of cheating or errors, the benefits among users and most importantly, everything visible through the Ethereum blockchain.

Extra: Both the Smart Pool and Kuailian Bank and the rest of the services have an affiliation system, by which each referral who becomes a user of Kuailian, will generate profits for the one who was its host.

Kuailian Bank and the next innovations

In its quest to create a complete ecosystem, Kuailian can provide financial services given its licenses and its collaboration with different partners in the sector. It currently has a cryptocurrency exchange service with “FIAT” currencies, but they are planning to add their own wallet, debit card, digital payment terminals, among other financial services.

Additionally, the Smart Pool does not stop evolving and new options are being developed, such as high-frequency trading (HFT) or arbitration systems; all managed by the same Machine Learning system that governs the ecosystem.

A growing ecosystem

Kuailian is not just a financial ecosystem, it goes much further, just like blockchain technology does. Kuailian’s main objective is to bring existing market resources based on blockchain technology closer together, to make them more efficient, more transparent and with a user experience never seen before, thanks to the blockchain technology. Very soon it will be incorporated into the Kuailian Travel system, a service outside the “financial” sector but that will undoubtedly mark a before and after in the travel market, making Kuailian a benchmark in the blockchain world.

Conclusion

If you are looking for a company that makes your entry into the world of blockchain and cryptocurrencies more accessible and close … Kuailian is your best ally.

Official links

  1. Web: https://kuailiandp.com/
  2. Instagram Official: https://www.instagram.com/kuailiandpofficial/
  3. Formal member of the Enterprise Ethereum Alliance: https://entethalliance.org/members/#k
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How some virtual coins are looking to take over the iGaming market

iGaming refers to those games that are played on the web and have something to do with community and money spending or earning. The array is vast, as you’d expect, with games ranging from RPG, FPS, Racing, Adventure, Casino and Sportsbooks, anything that happens on the web, it’s an iGaming product. The industry is vast, and is linked to the overall gaming industry which is $135 billion worth. These are no Monopoly money but real money people are spending on games, most of them on the web. Some of the money people are using to buy these games are starting to turn into crypto coins or tokens.

What are the most popular iGaming virtual coins

Crypto coins have become so popular these days, there’s not just the Bitcoin or Ethereum that are used in the industry. Some blockchain designers have introduced their own private virtual coins alongside some incredible provably fair and blockchain-based games. Thanks to a few online resources, we’ve come up with a list of 3 virtual assets or coins you might’ve never heard about but that can literally take over the iGaming market in no time.

Enjin

The people behind Enjin have one scope in mind: to propel the iGaming industry into a new frontier of never ending possibilities. They’ve used the standard token ERC-1155, an Ethereum-based token in order to create the Enjin Coin. This gaming coin can be purchased or sold by developers, used to buy in-game items by gamers and traded outside the actual games for other coins or fiat currency. You can buy or sell these gaming coins as you’d do with any other big cryptocurrency out there, which is quite impressive.

TRON

Leaving the similarities with a certain movie genre to the side, the TRON is a nativ token of one of the biggest and most advanced blockchain-based operating systems in existence. The goal of the environment is to provide a decentralised and free of censorship place for everybody. TRON is one of the fastest blockchains ever made, capable of up to 2000 transactions per second at incredibly low prices. This is what makes the TRON coin a very popular one in games or outside of them. Regardless if you’re a gamer or a trader, you’ll love TRON for sure. TRON is vastly used in the apps developing ecosystem known as dApps.

WAX

Short from Worldwide Asset eXchange, WAX is one native coin that’s to be followed. WAX as a platform incites the globalisation of buying and selling products online via the blockchain. One of the many tools offered by the creators of WAX is a platform where developers can find tools that will help them find new solutions to everyday problems that can be dealt with on the blockchain. Non-fungible tokens can also be created on the WAX and purchased with the token at hand or any other token or currency by that matter. Thanks to the popularity of the trading industry and the general idea of free commerce on the web, WAX is on the rise and can eventually become one of the most important iGaming coins everywhere.

The three advantages of virtual coins

We’ll stick to three but there are tons of advantages using cryptocurrencies over fiat assets in the iGaming or even other aspects of daily life.

Security overload

Trading on a decentralized, fully public and verifiable blockchain is much more secure than on any other virtual platform. You can rest assured that the transaction will reach its place in time and won’t be tempered with. If it so happens that there’s a treat, the platform will simply not allow for it to happen without consent.

Accessibility

Bank accounts get frozen or unavailable on a daily basis. There’s laws to be followed, banks to be fed with fees and many more aspects like these. With cryptocurrencies, you have no limits on how you can access or use your money. The virtual coins are accessible to you at any given moment and you have the freedom to do whatever you want to do with them.

Lower fees

Because there are no overlooking bodies that have to “do their jobs” and monitor anything, the fees when it comes to transactioning with crypto assets are much lower than when dealing with fiat currencies and banks. Some virtual coins come with no fees at all, while most of them have extremely small fees in comparison with those usually put up by banks.

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Opinion: For Cryptocurrency to Strive It Must Be Regulated

Initially, the lack of regulation was one of the advertised benefits of cryptocurrency. However, pitfalls of this came to light really fast as the lack of regulation means that you are lacking protection as well. And while money launders or terrorist groups definitely don’t care about it and focus on how this type of system benefits them, regular law-abiding people might lose their money because of the absence of security. Owners of $534 million lost in the Coincheck hack can attest to that. However, cryptocurre4ncy still isn’t regulated and changes to this particular aspect of it will, most likely determine if it has a future.

What’s the State of Cryptocurrency Regulation Today?

At the moment cryptocurrency is not regulated by any major regulatory authority in any country. In fact, the relationship between crypto and those relevant regulatory bodies is a matter of concern.

Take the UK Financial Conduct Authority (FCA). Like all other bodies of its kind, it does not regulate cryptocurrency in any way, but operations with it are not banned. For you as a user this means that you can use crypto in any way possible. However, you are devoid of any protections, which you would have had if crypto was treated the same way FCA regulates money transfer services. Those protections mean that if you get defrauded or your money is stolen, you’ll be able to file a report, get the authorities involved, and get your money back. At the least, you can hope to get some compensation through court.

With unregulated crypto, you get none of that. Therefore, if your accounts are hacked and your money is stolen, it’s lost forever. No one bears the responsibility of compensating you because no one was responsible for protecting that money. The FCA states this explicitly on its page dedicated to cryptoassets. That page is a warning about using cryptocurrencies, even if it’s presented as a source of general information instead of alert.

The situation is similar with all major financial regulatory authorities in the world. Various American regulatory bodies posted multiple articles that warn consumers off cryptocurrency and reiterate the risks caused by the lack of regulation.

Admittedly, those are the risks that one must be wary of. The aforementioned Coincheck hack is considered the biggest theft in history, and it’s not the only time when crypto was hacked and stolen without a trace. There was also the Mt. Gox hack, which lost about $450 million, and quite a few others.

All things considered, it’s impossible to deny that cryptocurrency transactions do need regulation, if only for the protections it brings. And authoritative regulatory bodies are quick to state that they aren’t offering any security to crypto users.

At least, this is the situation in the vast majority of countries. Some, like China and Morocco, simply banned cryptocurrency exchanges altogether. Therefore, their residents can’t really use crypto in any meaningful way.

But there are some other countries, which one might call more progressive in this matter. For example Japan, which, in a way, suffered the most from crypto hacks. Probably, it’s because of those incidents that Japan is now one of the few countries where cryptocurrency markets are managed by self-regulating bodies. In Japan that is the Japanese Virtual Currency Exchange Association, which works closely with the Financial Services Agency trying to enforce compliance with its rules.

For that matter, various financial regulatory bodies, like FCA and SEC, are also trying to enforce this kind of compliance into the businesses that use crypto. However, those same businesses use the absence of a legal framework for cryptoasset regulation to evade responsibilities that compliance will require.

What Does the Lack of Crypto Regulation Mean?

The lack of regulation for crypto, combined with explicit warnings from regulatory bodies and highly publicized news about crypto hacks, means that people don’t trust it. Of course, there are some enthusiasts who advocate it, but they are few.

And if people don’t trust it, they aren’t using it as well. Therefore, they aren’t putting the pressure onto governments and regulatory authorities that would make those come up with a solution.

Surprisingly, it seems to be exactly the thing that the governments want. After all, not a single government in the world today is welcoming of crypto. Even those that don’t ban or restrict it directly don’t seem inclined to recognize it as a full-fledged currency.

If one looks at it this way, the warnings about the risks of crypto issued by various authorities seem to be staged. No doubt, the risks are true. But is the situation itself truly so bad? Is it impossible to make cryptocurrency safer?

It’s definitely possible, and doing this will even resolve one of the major issues that governments seem to have with crypto. Making it regulated is the step that needs to be taken in order to increase the security of crypto transactions. Doing this will also provide the governments some semblance of control. However, due to the decentralized nature of the blockchain technology, this will only be an illusion of control. Perhaps, this is the reason why no one has moved to attempt regulating it yet.

The good news, however, is that some governments seemingly admit the inevitability of digital currency. They aren’t willing to accept existing coins, but some are starting to consider issuing their own. Local cryptocurrencies of this type don’t have any major success yet. However, the fact they exist already shows that the world is moving in the right direction.

Does Crypto Have a Future?

Cryptocurrency definitely has a future because it offers too many benefits to be forgotten. However, at the moment, it doesn’t have the legal support necessary to reach its full potential. The absence of currency regulation is a major problem because it makes crypto too risky an investment. Also, it’s part of the reason why it can’t be equal to fiat currencies.

Getting reputed regulatory bodies to acknowledge and manage crypto, at least to some extent, is an essential step. Without it there can be no future for crypto as it won’t be able to develop.

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