Litecoin Investor

The United States Commodity Futures Trading Commission (CFTC) on Thursday, September 24, filed a complaint against crypto dealing Paxforex for allegedly soliciting or accepting business from US customers without relevant registration.

According to a report, the CFTC wants a U.S. court to stop Paxforex from continuing with the “unlawful acts and practices,” as well as to compel the company to comply with the relevant laws. Furthermore, the commodity regulator wants the court to stop the defendant “from engaging in any commodity-related activity.”

In a complaint submitted to the Texas Southern District Court, the CFTC argues that from March 2018 to present, Paxforex violated the law by:

“Soliciting or accepting orders from non-eligible contract participants (“non-ECPs”), not conducted on or subject to the rules of any Commission-regulated exchange, for the purchase or sale of gold, silver, ethereum (ETH), litecoin (LTC), and bitcoin (BTC) on a leveraged, margined or financed basis that does not result in the actual delivery of the commodities to the customer.”

Furthermore, the CFTC states that by not registering as a futures commission merchant (FCM) with the Commission, the trading company, which “accepts money, securities, or property (or extends credit in lieu thereof) in the form of bitcoin, is in violation of Section 4d(a)(1) of the Act, 7 U.S.C. § 6d(a)(1) (2018).”

On its website, Paxforex claims owners of the company have extensive experience in forex, stocks, options, and CFDs markets as traders and dealers. This experience was gained when the founders worked in managerial positions with the largest brokers, who are now our major competitors.”

In the meantime, the CFTC is asking the court to impose civil monetary penalties and remedial ancillary relief, including trading and registration bans, restitution, rescission, pre-judgment, and post-judgment interest.

What do you think of the charges against Paxforex? Tell what you think in the comments section below.

The post The CFTC Files Complaint Against Crypto Trading Company appeared first on Bitcoin News.

https://news.bitcoin.com/the-cftc-files-complaint-against-crypto-trading-company/

Original Article
Author: btcethereumadmin

Bitcoin and altcoins rebounded off their critical support levels, possibly creating a path to a new bullish uptrend.

According to a study by researchers at the Cambridge Centre for Alternative Finance, the number of people who own Bitcoin (BTC) and other digital assets has surged from about 35 million in 2018 to over 100 million. This is a positive sign because the growth continued even when the crypto markets were not in a secular bull trend. 

The allure of digital currencies is likely to increase further if the U.S. Securities and Exchange Commission approves a Bitcoin ETF, but only Commissioner Hester Peirce is supportive of such a move. 

Peirce recently said that the SEC was closely watching recent regulatory changes such as the approval by the Treasury bank regulator which allows banks to hold “stablecoin ‘reserves’ as a service to bank customers.” 

Daily cryptocurrency market performance. Source: Coin360

Billionaire and Bitcoin bull Tim Draper believes that crypto adoption will happen because it is “important for the world.” Draper recently provided insight into his holdings, revealing that he also holds several altcoins in his portfolio.

Most top 10 cryptocurrencies have rebounded off their recent lows but does this indicate that the downtrend is over or is the current action just a dead cat bounce? Let’s study the charts to find out.

BTC/USD

Bitcoin turned up from $10,137 on Sep. 23 and broke above the 20-day exponential moving average ($10,705) on Sep. 24. However, the bulls have not been able to sustain the price above the 20-day EMA, which shows that the bears have not thrown in the towel yet.

BTC/USD daily chart. Source: TradingView

Currently, the bears are shorting at the 20-day EMA but they will gain an upper hand only after they sink the price below the uptrend line. 

The flat moving averages and the relative strength index close to the midpoint suggest a balance between supply and demand. If the RSI can rise above the 55–60 resistance zone, the bullish momentum is likely to pick up.

If the bulls can push the price above the 20-day EMA, they might again face stiff resistance at $11,178 and then at the downtrend line. A breakout of this resistance will signal a possible end to the correction.

This bullish view will be invalidated if the BTC/USD pair turns down from the current levels and plummets below the uptrend line and the $9,835 support.

ETH/USD

Ether (ETH) has rebounded sharply from the critical support at $308.392 and the bulls will now try to push the price above the downtrend line and the overhead resistance at $395. If they succeed, it will suggest that the correction has ended.

ETH/USD daily chart. Source: TradingView

However, the bears are unlikely to give up their advantage easily. They will try to stall the relief rally at the downtrend line and the moving averages. If the ETH/USD pair turns down from either resistance, the bears will try to sink the price below $308.392.

The downsloping moving averages and the RSI just below the midpoint suggest that the bears still hold a slight advantage, but if the bulls can again buy the next dip to $308.392, the pair might remain range-bound for a few days.

The next trending move is likely to start after the bulls either push the price above $395 or the bears sink the pair below $308.392.

XRP/USD

The bears have frequently used pullbacks to the 20-day EMA to initiate short positions in a downtrend and they are likely to attempt the same in XRP. If the price turns down from the 20-day EMA ($0.24), the bears will try to resume the downtrend.

XRP/USD daily chart. Source: TradingView

The sellers will succeed in their endeavor if they can sink the price below the Sep. 24 low of $0.219712. If this level cracks, the decline can extend to $0.19.

However, if the bulls can propel the XRP/USD pair above the 20-day EMA, a move to the 50-day simple moving average ($0.26) is likely. A breakout of this resistance may result in a rally to $0.303746.

Traders can keep an eye on the RSI because if it rises above the 50–60 resistance zone then the momentum might change in favor of the bulls.

BCH/USD

Bitcoin Cash (BCH) rebounded off the critical support at $200 on Sep. 23 and the bulls will now try to push the price above the 20-day EMA ($228). 

BCH/USD daily chart. Source: TradingView

If they succeed, it will suggest that the selling pressure has reduced. The bulls can then push the price to the 50-day SMA ($259) and above it to $280.

However, the downsloping moving averages and the RSI in negative territory suggests that the bears have the upper hand. This means bears will probably try to short the relief rally to the 20-day EMA.

If the BCH/USD pair turns down from this resistance, the bears will again try to sink the price below $200.

DOT/USD

The failure of the bears to sustain the price below the $4 support attracted buying by bulls on Sep. 24. Traders will now try to push Polkadot (DOT) above the 20-day EMA at $4.67.

DOT/USD daily chart. Source: TradingView

If they succeed, the DOT/USD pair can move up to $4.921 and then to $5.5899. A break out of this resistance will signal that the correction might be over.

However, if the price turns down from $5.5899, the pair could remain range-bound for a few days.

Contrary to this assumption, if the price turns down from the 20-day EMA, the bears will again try to sink the pair below the $4.00–$3.5321 support zone. 

LINK/USD

A strong rebound off a critical support is a positive sign as it shows that the bulls are accumulating aggressively at that level. This was seen in Chainlink (LINK) when it surged from close to the $6.90 support on Sep. 24 and broke above the downtrend line.

LINK/USD daily chart. Source: TradingView

However, the bears are unlikely to give up their advantage easily and will defend the 20-day EMA ($10.82) aggressively. If the price dips back below the downtrend line, the sellers will make one more attempt to break the $6.90 support and extend the decline to $4.50.

However, if the bulls do not allow the price to dip below the downtrend line and the $8.908 support, it will suggest a possible change in trend. The LINK/USD pair may then rally to $13.28.

Currently, both moving averages have flattened out and the RSI is just below the midpoint, which suggests a balance between supply and demand. The pair might consolidate for a few days before starting a strong trending move.

BNB/USD

The bears attempted to resume the correction on Sep. 23 but could not break below the Sep. 21 intraday low at $22.10. This shows that the bulls were accumulating Binance Coin (BNB) between $22.10 to $23.

BNB/USD daily chart. Source: TradingView

This resulted in a sharp rebound on Sep. 24 that broke above the downtrend line, but the bulls are facing resistance at the 20-day EMA ($25.12). If the BNB/USD pair fails to rise above this resistance, the bears will again try to resume the correction.

If the sellers can sink the price below the $22 support during the next decline, the pair can drop to $20 and then to $18. This bearish view will be invalidated if the bulls can push the price above the 20-day EMA. 

CRO/USD

The bulls purchased the dip to the $0.144743 support on Sep. 24 and will now try to push Crypto.com Coin (CRO) above the downtrend line. If they succeed, it will suggest a likely end to the correction.

CRO/USD daily chart. Source: TradingView

If the CRO/USD pair sustains above the downtrend line, the bulls will attempt to resume the uptrend and push the price above the $0.183416–$0.191101 resistance zone.

However, if the pair turns down from the downtrend line, the bears will again try to sink the price below the $0.144743 support. A close (UTC time) below this level will complete a bearish descending triangle pattern. The target objective of this negative setup is $0.10607. 

The downsloping 20-day EMA ($0.15) and the RSI in the negative territory suggest that the bears have a slight advantage.

LTC/USD

The failure of the bears to capitalize on the sharp drop on Sep. 21 and sink the price to $39 shows that the bulls had been buying close to $42 levels. Litecoin (LTC) can now move up to the 20-day EMA ($47.91) where the bulls are likely to encounter stiff resistance. 

LTC/USD daily chart. Source: TradingView

The downsloping moving averages and the RSI in the negative zone suggest that the bears are likely to sell on rallies to the 20-day EMA. 

If the price turns down from this resistance, the bears will once again attempt to resume the downtrend and sink the LTC/USD pair to the critical support at $39.

However, if the bulls can arrest the next decline above $42 and then push the price above the 20-day EMA, it will signal a possible change in trend. Above this resistance, the pair can move up to $51.

BSV/USD

Bitcoin SV (BSV) is trading inside the large $146.20–$227 range for many months. A breakdown of this range will be a huge negative as it will show that the indecision among the bulls and the bears has resolved in favor of the bears.

BSV/USD daily chart. Source: TradingView

Currently, the bulls are attempting to defend the $146.20–$135.00 support zone aggressively. However, buying dries up at higher levels and the bulls have not been able to push the price above the downtrend line.

The failure to rise above the downtrend line will attract selling and the bears will try to sink the BSV/USD pair below the support zone. If they succeed, a new downtrend is likely to begin.

This bearish view will be invalidated if the bulls can push the price above the downtrend line and the $180 resistance. 

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Bitcoin and altcoins are at risk of a deeper correction if they do not rise above their immediate resistance levels soon.

According to survey data from crypto asset insurance firm, Evertas, institutional investors believe that clearer regulations and better infrastructure in terms of trading, reporting, and custodial services will increase their participation in the crypto market.

About a quarter of the respondents expect that pension funds, sovereign wealth funds, insurance companies, and family offices will also become more involved with digital assets. The survey also found that 32% of the participants expect hedge funds to substantially increase their crypto holdings in the future.

The approval of the world’s first crypto asset exchange-traded fund on the Bermuda stock exchange is a positive step that is likely to entice several institutional investors to add exposure to cryptocurrencies. The ETF is a partnership between Nasdaq and Brazilian fund manager Hashdex and is expected to trade on the BSX by the end of 2020.

Daily cryptocurrency market performance. Source: Coin360

After the 2018 bear market, even a minor fall in Bitcoin (BTC) turns investor sentiment bearish as many instantly fear that a sharp fall is on the cards.

However, on-chain analytics provider Santiment has found that crypto assets tend to bounce sharply when uncertainty and fear are high.

With Bitcoin price still trapped below the $11K level, traders will want to know if  the current technical picture supports a rebound or further downside.

Let’s analyze the charts of the top 10 cryptocurrencies to find out.

BTC/USD

Bitcoin formed an inside day candlestick pattern on Sep. 22, which shows indecision among the bulls and the bears. If the bulls can push the price back above $10,625, the recovery can extend to the 50-day simple moving average at $11,197.

BTC/USD daily chart. Source: TradingView

If the bulls can push the price above the 50-day SMA and the downtrend line, the recovery is likely to pick up momentum and reach the recent highs of $12,460. A break above this resistance will increase the possibility that the uptrend resumes.

However, if the BTC/USD pair turns down from $10,625 or the 50-day SMA, the bears will once again try to sink the price below the $9,835 support. If they succeed, the decline can extend to the 200-day SMA ($9,204).

The 50-day SMA has started to slope down gradually, while the 200-day SMA is moving up slowly. This suggests a balance between supply and demand and points to a few days of range-bound action between the moving averages.

A breakout of either moving average will be a significant event that is likely to start a trending move.

ETH/USD

After the sharp fall on Sep. 21, the bulls are attempting to arrest the decline and start a relief rally in Ether (ETH). However, the small inside day candlestick pattern on Sep. 22 shows a lack of urgency among the bulls.

ETH/USD daily chart. Source: TradingView

If the ETH/USD pair does not break above the downtrend line within the next few days, the bears are likely to intensify their selling. The relative strength index in negative territory suggests that the advantage is with the bears.

If the pair turns down from the current levels or the downtrend line and breaks below the $308.392 support, the decline can extend to the 200-day SMA ($255).

Conversely, if the bulls can push the price above the downtrend line, it will be the first sign of strength. A breakout of the 50-day SMA ($389) will suggest that the correction has ended and a retest of the recent highs of $488.134 may be on the cards.

XRP/USD

XRP closed (UTC time) below $0.235688 on Sep. 21 and since then, the bears have not allowed the bulls to reclaim the level. The bears will now attempt to sink the price below $0.2290 and resume the downtrend.

XRP/USD daily chart. Source: TradingView

If they succeed, the XRP/USD pair could decline to the 200-day SMA ($0.214). The bulls will try to defend this level aggressively because if the price sustains below the 200-day SMA, it acts as a stiff resistance as seen between March and July of this year (marked via ellipses on the chart).

The first sign of strength will be a breakout and close (UTC time) above the downtrend line. This will increase the possibility of a move to the 50-day SMA ($0.269), which could act as a resistance. However, if the buyers can push the price above this resistance, bullish momentum is likely to pick up.

BCH/USD

The bulls purchased the dip on Sep. 22 but could not maintain the buying pressure today. This has renewed the selling and the bears are now attempting to sink Bitcoin Cash (BCH) to the critical support at $200.

BCH/USD daily chart. Source: TradingView

The price is trading below both moving averages that are sloping down and the RSI is in the negative zone, which suggests that the bears have the upper hand.

If the $200 support cracks, the BCH/USD pair might start a new downtrend that can result in a fall to $140.

This bearish view will be invalidated if the pair rebounds off the $200 level aggressively and rises above the 200-day SMA ($243).

DOT/USD

Polkadot (DOT) is witnessing a stiff battle at the $4 support level with the bears attempting to break below it and the bulls trying to defend it.

DOT/USD daily chart. Source: TradingView

The small range day on Sep. 22 and the doji candlestick pattern today shows indecision among the bulls and the bears about the next direction.

If the bears can sink the price below $3.90, the DOT/USD pair may decline to $3.5321. This is an important support to watch out for because if it cracks, the drop can extend to $2.60 and below it to $2.00.

Contrary to this assumption, if the bulls can push the price above $4.50, an up-move to $4.921 is possible.

BNB/USD

Binance Coin (BNB) plunged below the 50-day SMA ($23.78) on Sep. 21 but the bears could not sustain the selling pressure and the bulls reclaimed the level on Sep. 22. Currently, the bulls are attempting to sustain the price above the 50-day SMA.

BNB/USD daily chart. Source: TradingView

A breakout of the downtrend line will be the first sign that the correction might be over. Above this level, a relief rally to the $25.82–$27.1905 resistance zone is possible.

However, the bears are likely to defend the downtrend line aggressively. If they can again sink the BNB/USD pair below the 50-day SMA and the $22 support, the decline may extend to the 200-day SMA ($17.95).

The bulls are likely to buy the drop to the 200-day SMA and the strength of the rebound will suggest whether the downtrend is over or not.

CRO/USD

Crypto.com Coin’s (CRO) pace of decline has slowed down near the critical support at $0.144743, which shows that the selling pressure is reducing. However, any recovery attempt is likely to face resistance at the downtrend line.

CRO/USD daily chart. Source: TradingView

A weak relief rally from the current levels will suggest a lack of confidence among the buyers that the correction is over. That could attract selling by the aggressive bears who will then try to sink the price below $0.144743.

If they succeed, the CRO/USD pair can decline to the 38.2% Fibonacci retracement level of $0.12749 but if this support also cracks, the next major support is $0.11, just above the 200-day SMA ($0.107).

This bearish view will be invalidated if the pair turns up from the current levels and rises above the downtrend line.

LTC/USD

Litecoin (LTC) plummeted below the 200-day SMA ($46) on Sep. 21. If the bulls do not push the price back above this moving average quickly, the possibility of a fall to the next support at $39 increases.

LTC/USD daily chart. Source: TradingView

The three previous declines to $39 had proven to be a good buying opportunity, hence, the aggressive bulls might once again attempt to arrest the decline at this level. Any pullback is likely to face stiff resistance at the 200-day SMA.

If the LTC/USD pair turns down from the 200-day SMA, it will increase the likelihood of a break below $39. If that happens, the decline may extend to $32. Conversely, if the bulls can push the price back above the 200-day SMA, the pair can move up to $51.

LINK/USD

Chainlink (LINK) broke below the $8.908 support on Sep. 21 and has continued its journey towards the next critical support at $6.90, which is just above the 200-day SMA ($6.62).

LINK/USD daily chart. Source: TradingView

The RSI is close to the oversold levels for the first time since March, which suggests that the decline has been overdone in the short-term. Therefore, as the price nears the critical support at $6.90, the bulls might buy the dip.

If the rebound off this level can rise above the downtrend line and the $8.908 resistance, it will be the first signal that the downtrend may be over.

However, this does not mean that a new uptrend will start immediately because, after such a sharp fall, the price usually forms a bottoming pattern before turning bullish.

BSV/USD

The bulls purchased the dip below $146.20 on Sep. 22 but they could not push Bitcoin SV (BSV) above the downtrend line. This shows that the bears are selling on pullbacks to this resistance.

BSV/USD daily chart. Source: TradingView

The downsloping moving averages and the failure of the RSI to rise above the 40 level suggests that the bears are in command.

If the BSV/USD pair turns down and breaks below the $146.20–$135 support zone, a new downtrend might start. The first support on the downside is $100 but if the bears sink the price below it, the decline can extend to $77.

Contrary to this assumption, if the bulls can push the price above the downtrend line, the pair could rise to the 200-day SMA ($185).

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Idle games are brilliant at soaking up your time and leaving you with nothing in return. But what if you could earn LTC in the process?

Among the many current and upcoming blockchain-enabled gaming titles, LiteBringer promises something different. It claims to be the first game running entirely on the Litecoin blockchain.

But can it live up to its name, and bring players Litecoin (LTC)? There was only one way to find out…

Pay to play

The first thing to note about LiteBringer is that it really is played directly on the Litecoin blockchain. Every move that you make is a transaction and will require a mining fee (currently around 0.0014 Lites).

You will also need to get a subscription for every character that you wish to play with. Subscription fees are available for an initial period at a 90% discount, meaning that you currently pay just 2 Lites ($0.10) for around a month’s worth of blocks.

I started the game with around $0.50 worth of LTC and have subscriptions on four characters, with plenty of change to spend on as many quests as I can manage.

An idle-clicker RPG

The game has an RPG theme – think wizards, warriors, and thieves – but the quests don’t actually require much input, and LiteBringer is in essence a bit of an idle-clicker.

Available quests are green, quests you need to power-up for are red, and locked quests are grey. Choose from a loot, xp, or resources quest, and it will tell you how many blocks the quest will take. Then just click, pay the mining fee, and you’re off.

I really don’t like idle-clickers… because they’re so damn moreish.

“My life will surely be complete if I can just unlock the next upgrade.”

In LiteBringer you are levelling up your characters, finding loot to boost your stats, and collecting resources to boost the loot. This is an idle addict’s dream/nightmare.

One thing I thought was really cool was that quest lengths are based on blocks. This really ties the game back to the blockchain and makes you (at least casually) consider the technology that powers it.

I.e. You will be cursing when you are waiting ten minutes for the supposedly two-and-a-half minute block which will complete your quest and allow you to click again.

A trading game

Of course, an idle clicker doesn’t really need a blockchain to run it, and the other element of LiteBringer is its trading marketplace.

This allows players to trade any and all of their in game items: from collected resources, to buffed equipment, to full characters.

Through the skillful purchase of the right equipment at the right price, players can leapfrog the early stages, and avoid some of the grind of levelling up.

However, having an allergy to spending my own money on work assignments, I decided to take the opposite route. Could I level something up in game and then sell it on the marketplace for a profit?

The added bonus is that anyone who wants to buy my gear will be paying in real Litecoin and not some proprietary in-game token that I have to then convert on an exchange.

During my idle-clicking phase, I had inadvertently buffed up some ‘pants of fire’ more than anything else. My challenge then, was to upgrade the pants to the maximum level of 15 (at which point they can still evolve into an even better pant) and try to sell them for more than the $0.50 I’d invested.

Suddenly my clicking wasn’t so idle. I spammed the resource quest with all four of my characters, farming fire for all I was worth. As everything levelled-up, quest lengths became longer and longer and my required input became more and more infrequent.

After a couple of days, I achieved my level 15 ‘pants of fire’ – actually ‘leggings of disarming’ (with a fire elemental) but who’s counting?

Play to earn

I extracted the pants from my hero (which involved sending her on another quest), and created a “sell offer” for them. But how much should I ask for such a fine pair of leggings?

Unfortunately – and this is one element I would like to see changed in a future update – you can’t see what items have sold, only those that haven’t sold. This means that you don’t really have any idea of the value of things, only that certain things might be overpriced.

I had seen a couple of level 15 items listed at 210 Lites when I first looked at the marketplace. They were no longer there, but that didn’t necessarily mean that they had been sold.

I decided to put my pants up at a far more reasonable 120 Lites. Surely that would have the other players snapping? And it was more than 10x my initial stake in the game.

All I had to do now was wait… oh and why not click a bit more, while I’m here.

Winners (and losers)

As mentioned above, I don’t like idle clickers, because I find them horribly addictive and will never get the time invested in them back. But what if I can get paid for my time?

LiteBringer’s clicking is just as compulsive as any other idle-game, although it doesn’t require constant observation. The shortest possible mission takes one block, so even if you have several characters, you might want to be doing something else at the same time.

Before you know it you’ll be going on half-hour quests, but will still sit and watch those blocks tick down when there are only a few left.

Quests become available based on the power required to beat them and unfortunately these power levels tend to be grouped in clusters with big gaps in between.

E.g. After completing the intro quest and putting on some clothes you will have a power of over 200, unlocking the first batch of quests. The second batch of quests however are all grouped at around 2,400 power, which will take several days of grind.

It would have been nice if the quests were spread between these two levels, as it would feel like I was constantly unlocking new content. Although other than the reward gained and time taken, each quest is essentially the same.

So did I sell my pants? At time of writing they have been on the marketplace for nearly a day, and were reduced to an absolute steal at 60 Lites.

My gut feeling says that they will sell at that price eventually (bringing me much profit), but obviously the marketplace is still pretty green and it’s impossible to tell what the situation will be like once it starts to mature.

While I believe it is possible to make a decent return from the game now, this may not be the case once supply and demand find their balance.

Rough price points may start to develop, but the more people who are farming items to sell, the lower this price will be. And of course, the discounted subscriptions won’t last forever.

The market also requires fresh blood coming in with more money (than time), which makes it sound a bit like a ponzi scheme.

Why anybody would want to spend money to avoid the early grind, simply to get involved in the later grind, is another matter entirely.

It’s quite an enjoyable grind however, if you begrudgingly enjoy that kind of thing.

As for me, if the pants don’t sell soon I might just remove them from the marketplace and buff them some more. It would be nice if I could just get one of my power levels to 2,400 to unlock the next bunch of quests… and maybe then 4,600 to unlock the cluster after that?… and…

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Original Article
Author: btcethereumadmin

The market has taken a bearish turn and Bitcoin and altcoins will need strong relief rallies in order to restore their uptrends.

Legacy and crypto crypto markets saw a strong correction today as traders fear that the second round of economic stimulus might be delayed as the White House, Senate and Congress could become entangled in a fight to fill the vacancy created by the passing of Supreme Court Justice Ruth Bader Ginsburg. 

In addition to this, financial stocks are leading the bloodbath as reports emerged that several banks could have been involved in facilitating the movement of over $2 trillion over a two-decade period. These suspicious transactions have been flagged as possible money laundering or criminal activity by the banks internal compliance officers. 

While Bitcoin price is correcting today, this exposure of potentially illegal behavior by banks will only strengthen the narrative for why investors should buy Bitcoin (BTC).

Daily cryptocurrency market performance. Source: Coin360

The increasing number of coronavirus cases across the world is also adding to the negative sentiment seen in the market today. This has led to panic selling by traders who are dumping equities, gold, crude oil and cryptocurrencies and instead are buying the U.S. dollar. 

However, after the initial round of selling, most asset classes are likely to chalk their own course depending on their long-term fundamentals and cryptocurrencies may be among the first to rebound.

Let’s study the charts of the top 10 cryptocurrencies to spot the critical support levels that could attract buyers.

BTC/USD

Bitcoin turned down from the 50-day simple moving average ($11,225) on Sep. 19 and broke below the 20-day exponential moving average ($10,781) and the $10,625 support today. This fall suggests that the bears used the recent relief rally to $11,000 to initiate short positions.  

BTC/USD daily chart. Source: TradingView

The bears will now try to sink the price below the $9,835 support and if they succeed, it could result in panic selling that may drag the price down to $9,000 or even further.

If this sharp fall was followed by a strong rebound, it would suggest that the bulls are accumulating at lower levels and such a move might attract several buyers once again.

However, if the BTC/USD pair fails to rebound quickly from the lower levels, then the recovery is likely to take much longer as the bulls will then wait for a bottoming formation to complete before buying.

Contrary to these assumptions, if the pair rebounds off the $10,000–$9,835, support, the bulls will once again attempt to push the price above the downtrend line. If they succeed, then the uptrend is likely to resume.

ETH/USD

The pullback in Ether (ETH) stalled close to the 50% Fibonacci retracement level of $398.263 and turned down on Sep. 20. The selling intensified after the bears broke the immediate support at $353.443.

ETH/USD daily chart. Source: TradingView

The next support on the downside is $308.392 and below it $288. If the ETH/USD pair rebounds off this support zone aggressively, it will indicate that the bulls are accumulating on dips.

However, the bears are unlikely to give up their advantage easily. They will attempt to stall any pullback attempts at the downtrend line and then at $398.263. If they succeed, it will be a huge negative and will increase the possibility of a break below $288.

This bearish view will be invalidated if the bulls can push the price above the downtrend line and the overhead resistance at $400.

XRP/USD

The bears are trying to sink XRP below the $0.235688–$0.229582 support zone and if they succeed, the altcoin can decline to $0.19, completing a 100% retracement of the up-move that started in mid-July.   

XRP/USD daily chart. Source: TradingView

The lack of a strong bounce off the support zone indicates that buyers are currently not defending this zone aggressively. They are likely to wait for the decline to end before venturing out to buy.

This bearish view will be negated if the XRP/USD pair rebounds off the current levels and breaks above the downtrend line.

BCH/USD

The failure of the bulls to propel Bitcoin Cash (BCH) above the 20-day EMA ($235) attracted profit booking by the short-term bulls and shorting by the aggressive bears. This has resulted in a sharp fall to the critical support zone of $215–$200.

BCH/USD daily chart. Source: TradingView

If the bears can close (UTC time) the price below $215, the BCH/USD pair can drop to the critical support at $200. This is an important support because the bulls have not allowed the price to break below this level since the end of March.

Aggressive bulls might buy the dip to $200 but they will have to push the price back above the 20-day EMA to invalidate the bearish sentiment. If they fail to do so, the bears will again sell on the relief rally to the 20-day EMA.

A break below the $200 support will be a huge negative as it can start a downtrend that has a target objective of $140.

DOT/USD

Polkadot (DOT) broke below the rising wedge pattern on Sep.19 and quickly dropped to the $4.00 support. The bulls will attempt to defend the $4.00–$3.5321 support zone while the bears will try to break below it. 

DOT/USD daily chart. Source: TradingView

If the bears succeed, the DOT/USD pair can drop to $2.60 and then to $2.00. Such a move will be a huge negative as it is likely to drive away the bulls and reduce the possibility of a sharp recovery.

However, the pair could remain range-bound for a few days if it rebounds off the support zone and breaks above the 20-day EMA ($4.87).

BNB/USD

Binance Coin (BNB) broke below the $25.82 support on Sep. 20 but the price recovered from the intraday lows and closed (UTC time) at $26.31. However, renewed selling today has resulted in a sharp fall that has broken below the $25.82 support. 

BNB/USD daily chart. Source: TradingView

The bulls are currently attempting to arrest the decline at $23 but the bears are likely to sell on pullbacks to the downtrend line and to the 20-day EMA ($25.68). 

If the BNB/USD pair turns down from the downtrend line or the 20-day EMA, the bears will once again attempt to sink the price below $23. A break below this support could result in a decline to the next support at $18.

This bearish view will be invalidated if the bulls can push the price back above $25.82. Such a move will suggest that the current decline was a bear trap.

LINK/USD

Chainlink (LINK) is in a downtrend as it continues to make lower highs and lower lows. The break below $8.908 support shows that the bulls are not aggressively defending this level as they are not confident that the bottom is in place yet.

LINK/USD daily chart. Source: TradingView

If the LINK/USD pair closes (UTC time) below $8.908, the selling is likely to intensify. The next support is at $6.90 from where the pair had bounced off in July.

However, if the bears fail to sustain the price below $8.908, the aggressive buyers might step in and buy. A strong bounce off this support can reach the 20-day EMA ($11.5) where the bears might again step in and short.

This bearish view will be invalidated if the bulls can push the price above the 20-day EMA. Such a move will be the first sign that the downtrend might be over.

CRO/USD

Crypto.com Coin (CRO) turned down from the resistance line and broke below the moving averages on Sep. 20. The altcoin can now drop to the critical support at $0.144743.

CRO/USD daily chart. Source: TradingView

If the bears can sink and sustain the price below $0.144743, it will suggest that the CRO/USD pair has topped out at $0.191101. 

The next support on the downside is the 38.2% Fibonacci retracement level of $0.12749 and if this breaks down, the decline can extend to $0.11.

This bearish view will be invalidated if the pair rebounds off $0.144743 and rises above the downtrend line.

LTC/USD

The indecision between the bulls and the bears resolved in favor of the bears when Litecoin (LTC) broke below the symmetrical triangle pattern on Sep. 20. The next support on the downside is $39.

LTC/USD daily chart. Source: TradingView

Some buying can be expected at the $39 support because this level has not been breached convincingly since April 1 and the buyers have been rewarded every time they purchased on dips to this support.

The strength of the rebound off this critical support will provide insight into the conviction of traders. 

If the bounce is strong, it will suggest that the bulls have again purchased closer to the support because they expect it to hold. However, a weak rebound will show a lack of confidence and this will increase the possibility of a break below $39.

BSV/USD

The tight range trading in Bitcoin SV (BSV) resolved to the downside on Sep. 20 as the altcoin plunged below the $160 support. Repeated retests of a support level tend to weaken it as traders lose conviction that the support will hold, hence, they stop buying.

BSV/USD daily chart. Source: TradingView

The bears will now use the opportunity and try to sink the BSV/USD pair below the $146.20–$135 support zone. If they succeed, it could start the next leg of the downtrend that can reach $100 where buying might emerge as it is a psychologically important level.

This bearish view will be invalidated if the pair rebounds off the current levels and rises above the 20-day EMA ($167). Until then, the bears are likely to view the relief rallies as a selling opportunity.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Bitcoin and altcoins are facing selling near key resistance levels, but for now the possibility of a sharp fall remains low.

The U.S. Federal Reserve recently hinted that it could keep interest rates near zero at least through 2023. The Bank of England went a step ahead and said that it could explore options for cutting rates below zero in order to support an economy battered by the coronavirus lockdowns and the upcoming Brexit.

In other news, Kraken exchange has become the first digital asset company to receive a charter to operate as a bank in the U.S. This is a huge change from the days when traditional banks refused to support crypto businesses.

Daily cryptocurrency market performance. Source: Coin360

MicroStrategy’s immense Bitcoin (BTC) purchase is also a major step ahead as that will encourage several companies to at least diversify a portion of their cash reserves into cryptocurrencies.

All these events are long-term bullish for cryptocurrencies, but in the short-term, negative sentiments continue to weigh on prices. Fortunately, as is the nature of markets, crypto markets will eventually react positively to the strong fundamentals that exist and the uptrend will resume.

Let’s study the charts to spot the levels that indicate that the current correction has possibly ended.

BTC/USD

The bulls have not been able to sustain the price above the $11,000 level for the past two days, which suggests that bears are aggressively defending this resistance. Bitcoin formed an inside day doji candlestick pattern on Sep. 17 and this shows indecision among the bulls and the bears.

BTC/USD daily chart. Source: TradingView

Both moving averages have flattened out and the relative strength index is close to the 50 level, which also points to a balance between supply and demand.

If the price turns down from the current levels, the bears will try to sink the BTC/USD pair below the $10,625–$10,500 support. If successful, this will indicate that the bears have aggressively shorted during the current relief rally and a retest of $9,835 is likely.

Conversely, if the pair rebounds off the $10,625–$10,500 support, it will show that the bulls continue to buy at higher levels.

A breakout and close (UTC time) above $11,000 could push the pair to the downtrend line. This level is again likely to act as a stiff resistance but if the bulls can drive the price above it, a rally to $12,460 will be on the cards.

ETH/USD

Ether (ETH) has found support close to the $353.443 support four times since Sep. 11, which shows that the bulls have been accumulating on dips. The buyers tried to extend the relief rally with a sharp up-move on Sep. 17 but could not clear the barrier at the 50-day simple moving average ($391).

ETH/USD daily chart. Source: TradingView

If the ETH/USD pair does not dip below $366, the bulls will make one more attempt to clear the 50-day SMA hurdle. If they succeed, a rally to the 61.8% Fibonacci retracement level of $419.473 is likely.

This positive view will be invalidated if the bears sink the pair below the $353.443 support because if this level breaks down, several aggressive bulls could close their short-term positions. The next support on the downside is much lower at $308.392.

XRP/USD

The repeated failure of the bears to sink XRP below $0.235688 attracted buying from the aggressive bulls on Sep. 18. However, the bears have not thrown in the towel yet as they are trying to stall the pullback at the 20-day exponential moving average ($0.252).

XRP/USD daily chart. Source: TradingView

If the XRP/USD pair turns down from the current levels, the bears will once again attempt to sink the price below the $0.235688–$0.229582 support zone. If they succeed, a drop to $0.19 is likely.

However, if the bulls push the price above the 20-day EMA, a rally to $0.268478 is likely. The bears are likely to defend this level aggressively, which could keep the pair range-bound for a few days.

The flat moving averages and the RSI just below the midpoint show a balance between supply and demand. The advantage will shift in favor of the bulls if they can propel the pair above the downtrend line.

DOT/USD

Polkadot (DOT) rebounded off the support at $4.921 on Sep. 16 but the bulls could not push the price above the overhead resistance at $5.5899, which suggests selling by the bears at higher levels.

DOT/USD daily chart. Source: TradingView

If the DOT/USD pair breaks below the rising wedge pattern and the $4.921 support, a drop to $4.50 and then to $4.00 is possible. However, if the bulls defend the $4.921 support, the pair could remain range-bound for a few days.

The first sign of strength will be a breakout of the overhead resistance at $5.5899 and the pair is likely to pick up momentum after it breaks above the rising wedge pattern. Above this level, a rally to $6.8619 is possible.

BCH/USD

Bitcoin Cash (BCH) has been facing stiff resistance at the 20-day EMA ($239), which shows that the bears are selling on pullbacks to this level.

BCH/USD daily chart. Source: TradingView

However, the positive thing is that the bulls have not allowed the price to slip and sustain below $230.

A tight consolidation close to a stiff resistance increases the possibility of a breakout from it. If the BCH/USD pair breaks out of the 20-day EMA, a move to $260 is possible.

Conversely, if the bears can sink the pair below the $227 support, a drop to $215 is likely. A break below this support can result in a retest of the critical support at $200.

BNB/USD

Binance Coin (BNB) bounced from close to the $25.82 support on Sep. 16 and 17, which shows that the bulls are aggressively defending this level.

BNB/USD daily chart. Source: TradingView

However, the buyers have not been able to push the price above the 38.2% Fibonacci retracement level of $28.7113, which suggests that the bears are aggressively shorting close to this resistance.

If the bears sink the BNB/USD pair below the 20-day EMA ($25.69), a drop to the 50-day SMA ($23.43) is likely.

Conversely, if the pair again rebounds off the $25.82 support, the bulls will make one more attempt to push the price above $28.7113. If they succeed, a rally to $30.4975 is possible.

LINK/USD

The bulls attempted to push Chainlink (LINK) back above the uptrend line on Sep. 17 but failed. This line which had previously acted as a strong support will now behave as a resistance.

LINK/USD daily chart. Source: TradingView

The bears will now try to sink the LINK/USD pair below the critical support at $8.908. This is an important support level to watch out for because if it breaks down, the decline can extend to $7.

The 20-day EMA ($12.27) is sloping down and the RSI is in the negative territory, which suggests that the bears have the upper hand.

This bearish view will be negated if the pair reverses direction and breaks above the $13.28 resistance.

CRO/USD

Crypto.com Coin (CRO) is facing resistance at the downtrend line but the bulls have not allowed the price to drop below the moving averages, which shows buying on dips.

CRO/USD daily chart. Source: TradingView

However, both moving averages have flattened out and the RSI is just above the midpoint, which suggests a balance between supply and demand.

The advantage will shift in favor of the bulls if they can push the price above the downtrend line. Above this resistance, a rally to $0.183416 and then to the recent highs at $0.191101 is likely.

If the bears can sink the price below the moving averages, the CRO/USD pair might drop to the critical support at $0.144743.

LTC/USD

Litecoin (LTC) is currently trading inside the symmetrical triangle and the next directional move will start after the price breaks out or breaks down from this pattern.

LTC/USD daily chart. Source: TradingView

The downsloping moving averages and the RSI in the negative territory suggest that the bears have the upper hand. If they can sink and sustain the price below the triangle, a drop to $39 is possible.

Conversely, if the bulls can push the LTC/USD pair above the triangle, a rally to $58 and above it to $64 is possible.

Although the symmetrical triangle usually acts as a continuation pattern, it can sometimes start a reversal. Hence, it is better to wait for the price to break out before taking positional bets.

BSV/USD

The bulls are not confident that the correction is over and the bears are not convinced that they can sink Bitcoin SV (BSV) below the $146.20–$135 support zone. Hence, the intraday range has shrunk in the past few days.

BSV/USD daily chart. Source: TradingView

Both moving averages are sloping down and the RSI has dipped below the 40 level, which suggests that the advantage is with the bears.

If the bears sink the BSV/USD pair below $259, a retest of the support zone is likely. A break below this zone could start the next leg of the down move.

However, if the pair again rebounds off the $146.20 support, a few days of range-bound action is likely. The first sign of strength will be a breakout and close (UTC time) above the downtrend line.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Bitcoin and a few altcoins have broken above key resistance levels, which suggests that the bulls are attempting to take control of the market.

This week MicroStrategy, a Nasdaq-listed company, announced that it had added 16,796 Bitcoin (BTC) to its existing holding of 21,454 Bitcoin. This means in less than a year the firm has amassed 38,250 Bitcoin. This is a defining moment as MicroStrategy becomes the first public company to adopt a Bitcoin standard. 

Other large companies may follow in MicroStrategy’s footsteps but they are likely to purchase at much higher levels according to Datavetaren, a pseudonymous software engineer.

CNBC Mad Money host Jim Cramer also suggested that he might place 1% of his portfolio into Bitcoin as he considers gold ‘dangerous’. During a podcast with Anthony Pompliano, Cramer said that storing gold was dangerous, hence, his desire for Bitcoin.

Daily cryptocurrency market performance. Source: Coin360

In other news, Rich Dad Poor Dad author Robert Kiyosaki said that Bitcoin ranks among the top three long-term investments that everyone should have in their portfolio. Kiyosaki believes that investors will dump these safe haven assets when a coronavirus vaccine is developed but according to him, that could be a great buying opportunity.

Generally, Bitcoin continues to have a bullish outlook in the long-term but what can traders expect in the short-term? Let’s analyze the charts to find out. 

BTC/USD

Bitcoin broke above the 20-day exponential moving average ($10,759) on Sep. 15 and is now attempting to sustain above the $11,000 resistance. This is encouraging as the further the price moves away from the recent lows at $9,835 the harder it will be for the bears to resume the correction. 

BTC/USD daily chart. Source: TradingView

The next two levels where the bears might try to stall the recovery is at the 50-day simple moving average ($11,269) and above it at the downtrend line.

Even if the BTC/USD pair turns down from either of these overhead resistances, the bears will have to slice through several support levels to reach $9,835, which is likely to be a difficult task.

The relative strength index has broken out of its downtrend line and has crossed over into positive territory, which suggests that the momentum is with the bulls. If the bulls can push the price above $11,700, a rally to $12,460 is likely.

ETH/USD

Ether (ETH) dipped below the $366 support today but rebounded from $354.381. This shows that the bulls are accumulating at lower levels. They will now try to push the price above the moving averages.

ETH/USD daily chart. Source: TradingView

If they succeed, the ETH/USD pair could rally to the 61.8% Fibonacci retracement level of $419.473. This level could act as a stiff resistance but if the bulls can push the price above it, a retest of the $480–$488.134 resistance is likely.

This bullish view will be invalidated if the pair turns down from the moving averages and breaks below $353.43. Such a move is likely to attract further selling that could drag the price down to the critical support at $308.392.

XRP/USD

XRP has again bounced off the $0.235688 support today, which confirms that the bulls are defending this level aggressively. However, repeated retests of a support level tend to weaken it.

XRP/USD daily chart. Source: TradingView

The 20-day EMA ($0.252) is sloping down and the RSI is in the negative territory, which suggests that the bears have the upper hand.

If the bears can sink the price below the $0.235688–$0.229582 support zone, the selling is likely to intensify. The next support on the downside is much lower at $0.19.

The first sign of strength will be a breakout and close (UTC time) above the 20-day EMA and a break above the downtrend line will signal the resumption of the up-move.

DOT/USD

Polkadot (DOT) turned down from $5.5761 on Sep. 14, which is just below the 61.8% Fibonacci retracement level of $5.5899. This suggests that the bears are selling on rallies.

DOT/USD daily chart. Source: TradingView

The DOT/USD pair is currently trading inside a rising wedge pattern. A breakdown and close (UTC time) below the wedge could result in a fall to $4 and then to $3.5321. If the pair bounces off this support, then a few days of range-bound action is possible.

Contrary to this assumption, if the pair rises from the current levels and breaks above the wedge, the uptrend is likely to resume. The first target on the upside is $6.50 and above it $6.8619. 

BCH/USD

Bitcoin Cash (BCH) broke above the $235.05 resistance on Sep.15, but the bulls could not clear the 20-day EMA ($240) hurdle, which suggests that the bears are selling on pullbacks to this level.

BCH/USD daily chart. Source: TradingView

However, the bears have not been able to break the $215 support for the past few days, which shows that selling is drying up at lower levels.

The BCH/USD pair is at the $235.05 resistance and the bulls will once again attempt to push the price above it. If they succeed in driving the price above the 20-day EMA, it will increase the likelihood of a rally to $260 and then to $280.

Failure to rise and sustain above $235.05 will keep the pair range-bound for a few more days. 

BNB/USD

Binance Coin (BNB) formed a doji candlestick pattern on Sep. 14, which showed indecision among the bulls and the bears. The failure to sustain the price above the $32 resistance attracted profit booking by short-term traders and dragged the price down to $26.7123.

BNB/USD daily chart. Source: TradingView

However, even after the sharp fall on Sep. 15, both moving averages are sloping up and the RSI is in the positive territory, which suggests that the advantage is still with the bulls.

The bulls purchased the dip to $25.82 today, which shows demand at lower levels. They will now once again attempt to push the price above the $32–$34 resistance. If they succeed, a retest of the all-time highs at $39.5941 is likely.

If the BNB/USD pair fails to rise above the $32–$34 zone, a few days of range-bound action is possible. The advantage will shift in favor of the bears if the pair dips below $25. 

LINK/USD

Chainlink (LINK) broke below the uptrend line on Sep. 15 and the bears will now try to sink the price to the next support at $8.908. A break below this support could result in a fall to $7 and then to $5.

LINK/USD daily chart. Source: TradingView

The downsloping 20-day EMA ($12.66) and the RSI in negative territory suggests that the bears have the upper hand.

However, if the bulls can quickly push the price back above the uptrend line, it will suggest that they are accumulating at lower levels. 

The first sign of strength will be a breakout and close (UTC time) above $13.28 and the uptrend is likely to resume after the LINK/USD pair rises above the downtrend line. 

CRO/USD

Crypto.com Coin (CRO) has risen above both moving averages, but the bears are unlikely to throw in the towel easily. They will try to stall the up-move at the downtrend line.  

CRO/USD daily chart. Source: TradingView

If the CRO/USD pair turns down from the downtrend line and breaks below the moving averages, a retest of $0.144743 is possible. A breakdown of this support will signal the likelihood of a deeper fall to $0.11.

However, if the bulls propel the price above the downtrend line, a move to $0.183416 and then to the highs at $0.191101 is likely. A breakout of $0.191101 will signal the start of the next leg of the uptrend.

LTC/USD

Litecoin (LTC) turned down from $50.2979 on Sep. 15, which shows that the bears are aggressively defending the $50–$51 zone. If they can sink and sustain the price below the trendline, a drop to $45.1626 is likely.

LTC/USD daily chart. Source: TradingView

The 20-day EMA ($51) is sloping down and the RSI is in the negative territory, which suggests that bears have the upper hand. If the $45.1626 support fails to hold, the decline can extend to the critical support at $39. 

Contrary to this assumption, if the LTC/USD pair rebounds off the current levels and rises above the $51–$53 resistance zone, it will signal that the correction has possibly ended. The first target objective on the upside is $64 and then $68.9008.

BSV/USD

Bitcoin SV (BSV) has roughly been trading between the $160–$170 range for the past few days, which suggests indecision among the traders.

BSV/USD daily chart. Source: TradingView

If the bears sink and sustain the price below $160, the BSV/USD pair could drop to the critical support at $146.20. The bears have not been able to break this support since March, hence, the bulls are likely to defend this level once again.

However, if the selling pressure picks up and the pair slips below the $146.20–$135 support, it will signal the start of a new downtrend that has a target objective of $100 and then $77.

This bearish view will be invalidated if the pair turns up from the current levels and breaks above the downtrend line. 

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Aberdeen, Hong Kong, September 16, 2020. – More than 10 years after the first cryptocurrency was successfully mined, the mining space is more controversial than ever. The process was created to be democratic; to allow any PC with spare computing resources to contribute the surplus to help maintain the cryptocurrency network and earn rewards in return.

The prospects of the mining prize mentioned here led entrepreneurs to innovate ways to make mining more profitable. In the process, they have fabricated specialized mining devices that do not only do the activity faster, but also improves the profitability of the exercise while at it. The said changes now mean that anyone who wants to earn from Bitcoin and cryptocurrency mining must put in a colossal amount of capital to afford the expensive devices. Besides, the cost of electricity required to sustain the process is extortionate.

The incredible pace of change in the industry, notwithstanding, an innovative entrepreneur and his unique startup are prepping the industry for major changes. The individual, Thomas Norberg, is a Russian-born businessman with a vision to make Bitcoin and cryptocurrency mining more user-friendly and less costly to join.

Thomas Norberg – The Man, the Innovator

Thomas was born in Russia. After attaining elementary education in his native country, he set sail for oversees, landing in Sweden where he enrolled for a Master’s degree in International Business Management, which he completed successfully.

Upon completing his graduate studies, Thomas joined the corporate world earnestly. It was while here that he stumbled upon the novel blockchain technology. Having been in the industry for more than 8 years, he can now talk authoritatively about the successes of the space as well as the issues and challenges ailing the industry.

Thomas has seen it all, or at least most of it. He started as a crypto trader back when not many people knew about virtual currencies. Between 2016 and 2018, when initial coin offerings (ICOs) were all the rage, Thomas dived in and backed several projects with the proceeds from his trading days.

However, technology is dynamic and there is no space where this statement is truer than the blockchain industry. Watching the comings and goings of the space, it did not take Thomas long to see the folly and lopsided aspect of the industry that crypto mining had become. Baffled by the cost of hardware and the runaway power tariffs, Thomas joined hands with some entrepreneurs he came to know in the industry. Together, they came up with the idea of a cloud mining platform that has a unique yet friendly approach to the undertaking. And, the process gave forth to Miny.cc.

Miny.cc – The Unique Approach to Cloud Mining

Miny is primarily a cryptocurrency wallet infrastructure. If a user creates an account on the platform, he or she also gets a secure cryptocurrency wallet by default. The multi-coin wallet can store Bitcoin, Ethereum, Litecoin, and MINY tokens.

However, the platforms shining star is its cloud mining plan. The plan is simple and easy to use. All a user needs to do is create an account, deposit crypto into the wallet provided and convert the virtual currency into MINY tokens. Once the platform verifies the deposit, the user will be included in the mining pool where he or she will begin getting a share of the platform’s mining proceeds. Overall, the platform pays out between 10% and 19% of the amount a user invests, per month.

Aside from cloud mining, users can make money on the platform through several means. The platform’s native token, MINY, for instance, is a revenue earner. The cryptocurrency is made such that for every successful transaction completed on the platform, a portion of it burns. In doing so, the platform ensures that the number of MINY tokens in circulation reduces over time.

Since the demand for the coins is set to increase over time while the amount in circulation reduces, the value of the coin, as such, will appreciate. Users who hold the coins for an extended period can exchange them for other cryptocurrencies or cash them as fiat and enjoy their profits.

Still, users who have extensive following online can cash in on this resource. The platform has an elaborate affiliate program that pays commissions for the referrals a user brings up to the 20th downline.

The above narrative shows that Thomas Norberg is in the game for more than just profits. The Russian entrepreneur and his band of associates want to make Bitcoin mining worth considering again. Besides, they want to see it become an undertaking that is environment friendly and Sustainable. This reason is why Miny’s mining farm is located in Hong Kong. The region’s endeavor to go green makes its power cheap and attractive.

More information about Thomas Norberg and his unique project is available here.

Press Contact Email Address
[email protected]

Supporting Link
https://www.youtube.com/watch?v=zlocB2BEKNg

---

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post Miny.CC – Innovation in the Cryptocurrency Mining Sphere appeared first on Bitcoin News.

https://news.bitcoin.com/eli-bordun-15-09-20-1519-miny-cc-innovation-in-cryptocurrency-mining-sphere/

Original Article
Author: btcethereumadmin

“It’s the first major game that utilizes the Litecoin blockchain for all of its interactions,” said LTC creator Charlie Lee.

In an online event prepared by the Litecoin Foundation on Sept. 15, Litecoin (LTC) creator Charlie Lee and CipSoft CEO Stephan Vogler announced the release of LiteBringer, a role-playing fantasy game which runs on top of the Litecoin blockchain.

“It’s the first major game that utilizes the Litecoin blockchain for all of its interactions,” Lee said.

Vogler stated the game is fully decentralized, meaning all users have to be running a Litecoin node to play. He also noted that access is completely dependent on players having at least some Litecoin on hand. The game reportedly includes a “Litecoin faucet”, which could allow some users to get a little Litecoin for free if they aren’t willing or able to transfer their own.

“Every move in the game is a transaction on the Litecoin blockchain that creates value,” said Vogler. “If you’re a good player, LiteBringer will live up to its name, and may bring you some Litecoins.”

According to Vogler, all weapons, characters, and items in LiteBringer are stored on the LTC blockchain. He assured viewers that the technology was “absolutely secure and decentralized”, as private keys are never transmitted. CipSoft reportedly chose the LTC blockchain for its popularity and the fact it carries low transaction fees of “less than a cent per transaction.”

CipSoft’s foray into blockchain-based RPGs isn’t the first time a blockchain or crypto firm has seen the potential of gamers to advance adoption. In May, Atari announced that it had partnered with the Litecoin Foundation to allow gamers to pay for its upcoming Video Computer System. Infinite Fleet, an online game which utilizes crypto, is currently under the leadership of Blockstream Chief Strategy Officer, Samson Mow.

“Blockchain technology has huge potential for online gaming in general,” said Vogler. “I think there will be games for every popular blockchain sooner or later.”

Original Article
Author: btcethereumadmin

Bitcoin and several altcoins are trying to break out of their respective overhead resistance levels in order to restore bullish momentum.

Most retail traders find it difficult to go against the herd and buy when the market is down. They generally wait for the price to recover and for improvements in sentiment before jumping in. By doing this, retail traders typically miss the larger part of relief rallies and pocket a smaller profit.

On the other hand, professional investors capitalize on sharp corrective moves by purchasing if they believe that the fundamental long-term trajectory remains intact.

Daily cryptocurrency market performance. Source: Coin360

New research by OKEx Insights and Catallact indicates that retail traders were “shaken out” by Bitcoin’s (BTC) crash in March and they did not return to the markets quickly due to a wait and watch approach. In contrast, larger players bought during the Black Thursday crash and continued to accumulate throughout the summer.

Now that Bitcoin has risen above the $10,500 resistance, do the charts point to a resumption of the upturned or is there a possibility of a reversal at a higher level?

Let’s check the charts to find out!

BTC/USD

Although Bitcoin turned down from the overhead resistance of $10,625 on Sep. 13, the bulls did not allow the price to dip below the immediate support at $10,200 and this shows accumulation was occurring at this level.

BTC/USD daily chart. Source: TradingView

If the bulls can sustain the price above the 20-day exponential moving average ($10,728), a quick move to $11,000 is likely. This will be the first sign of strength but the bears are unlikely to give up without a fight.

Traders looking to go short will likely attempt to defend the $11,000 level aggressively and this could result in a minor pullback. If the bulls are able to hold the next move to $10,625, it will increase the possibility of a rally to $12,460.

Contrary to this assumption, if the BTC/USD pair turns down from the overhead resistance and slips back below $10,625, it will suggest selling at higher levels. Trading sentiment will sour if the bears sink the price below the $9,835 support.

Traders can keep an eye on the relative strength index as sometimes the indicator projects a breakout or breakdown. If the RSI rises above the downtrend line, it could be followed by an upside move in price.

ETH/USD

Ether (ETH) has rebounded off the lower trendline, which is a positive sign as it shows that the bulls are buying on dips to this support.

Over the weekend traders pushed the price above the 20-day EMA ($379) and now they will attempt to overcome the hurdle at the 50-day simple moving average ($387).

ETH/USD daily chart. Source: TradingView

If the bulls can sustain the price above the 50-day SMA, the possibility of a rally to the 61.8% Fibonacci retracement level of $419.473 is likely.

The ETH/USD pair could turn down from this resistance as the bears are likely to defend it aggressively. However, if the bulls successfully defend the next dip to the $366 support, it could signal an end to the correction.

This view will be invalidated if the pair again turns down from the moving averages and plummets below $350. Such a move could result in a retest of $308.392.

XRP/USD

XRP has held the $0.235688 support for the past few days, which suggests that the bulls are defending this level aggressively. They attempted to start a relief rally on Sep. 13 but the bears had other plans.

XRP/USD daily chart. Source: TradingView

However, the positive thing is that the bulls continue to buy on dips to the $0.235688 support. The bulls will make one more attempt to push the XRP/USD pair above the 20-day EMA ($0.25).

If they succeed, a move to $0.268478 is likely. The bears are likely to defend this resistance and if the pair turns down from this, a few days of range-bound action between $0.268478– $0.235688 is possible.

The next leg of the down move could start if the bears sink the pair below the $0.235688–$0.229582 support zone.

BNB/USD

Binance Coin (BNB) picked up momentum after it broke above the $25.8262–$27.1905 resistance zone on Sep. 12. The bulls are currently attempting to sustain the price above the $32 resistance.

BNB/USD daily chart. Source: TradingView

If they succeed, the BNB/USD pair is likely to move up to $34 and then challenge the all-time highs at $39.5941.

However, the sharp rally of the past few days has pushed the RSI into overbought territory and this is a signal that a minor consolidation or a pullback could occur.

The uptrend is likely to resume if the bulls do not give up much ground during the next pullback. This positive view will be invalidated if the pair turns down from the $32–$34 resistance zone and breaks below $27.1905.

DOT/USD

The bulls propelled Polkadot (DOT) above the $4.9210 resistance on Sep. 12, which is a positive sign. They will now try to drive the price above the 61.8% Fibonacci retracement level at $5.5899.

DOT/USD daily chart. Source: TradingView

If they succeed, the rally can extend to the 78.6% retracement level of $6.1493 and then to the highs at $6.8619.

However, the bears are unlikely to give up without a fight. They will try to defend the $5.5899 resistance, which could result in a minor pullback or consolidation. If the bulls do not allow the price to dip below $4.9210, it will suggest that the correction is over.

This view will be invalidated if the DOT/USD pair turns down from $5.5899 and plummets below $4.9210. Such a move could result in a fall to $4.50 and then to $4.

LINK/USD

Chainlink (LINK) is currently stuck between the trendline and the $13.28 resistance on the upside. The moving averages are on the verge of a bearish crossover and this signals that sellers may have the upper hand.

LINK/USD daily chart. Source: TradingView

However, if the LINK/USD pair rebounds off the trendline, the bulls will make one more attempt to push the price above the $13.28 resistance. If they succeed it could attract further buying and push the price to the downtrend line.

The bears are likely to defend the downtrend line aggressively but if the bulls can arrest the next decline above $13.28 the level will act as a new floor and increase the possibility of a breakout above the downtrend line.

This bullish view will be invalidated if the pair turns down from $13.28 and breaks below the trendline. In such a case, a drop to $8.908 is likely.

BCH/USD

Bitcoin Cash (BCH) continues to be range-bound between $215–$235.05. The bulls attempted to push the price above this range on Sep. 13 but failed, which shows that the bears are defending the resistance.

BCH/USD daily chart. Source: TradingView

The next trending move is likely to begin after the price escapes this range. If the bulls can propel the BCH/USD pair above $235.05 and the 20-day EMA ($242), a move to $260 is possible.

Conversely, if the price turns down and breaks below $215, a drop to $200 is likely. This is an important support to watch out for because it has not been broken since March. A break below this level could intensify selling with the next support at $140.

CRO/USD

Crypto.com Coin (CRO) has resumed its up move. The bears attempted to stall the up-move at the 50-day SMA ($0.164) on Sep.13 but the bulls did not allow the price to dip below the 20-day EMA ($0.161).

CRO/USD daily chart. Source: TradingView

Currently, the CRO/USD pair has risen above the 50-day SMA, which suggests that the bulls continue to buy at higher levels. The next target is $0.183416 and if this level is crossed, a retest of the highs at $0.191101 is likely.

This bullish view will be invalidated if the pair turns down and plummets below $0.144743. Such a move will suggest that the bulls are closing their positions at higher levels.

LTC/USD

The bulls attempted to propel Litecoin (LTC) above the $51 resistance on Sep. 12 and 13 but failed. This indicates that the bears are aggressively defending the level.

LTC/USD daily chart. Source: TradingView

However, a positive sign is that the bulls are buying on dips to the trendline support. They will once again try to clear the hurdle at $51 and the downsloping 20-day EMA ($51.9). If they succeed, a move to the 50-day SMA ($56.4) and $64 is likely.

Contrary to this assumption, if the LTC/USD pair turns down from the overhead resistance, the bears will try to sink the price below the trendline. A break below this support could result in a fall to $45.1626.

BSV/USD

Bitcoin SV (BSV) is currently attempting to rebound off the $160 support. The bulls will once again attempt to push the price above the downsloping 20-day EMA ($175).

BSV/USD daily chart. Source: TradingView

If the bulls manage to surmount $175 the price could rally to $227 but it’s expected that overhead resistance will prevent this from happening in one go.

Conversely, if the pair turns down from the 20-day EMA or the downtrend line, the bears will try to break the $160 support and hammer the price to $146.20.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin