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Price Analysis 7/13: BTC, ETH, XRP, BCH, ADA, BSV, BNB, LTC, CRO, LINK – BTC Ethereum Crypto Currency Blog

Equities markets are surging and many altcoins continue to push higher as Bitcoin price consolidates into a tight trading range.

The Nasdaq has regularly been making new highs for the past few days, which has resulted in a strong rally in a few technology companies. Along with this, a few stocks in the S&P 500 are also on a tear, pushing their valuations to astronomical levels.

While the U.S. equity markets are on a strong footing, gold is not to be left behind. It has also risen to a nine-year high, which shows that assets that are perceived as risky and safe havens, both are rallying at the same time. Ultimately, this proves that an abundant money supply is finding its way into these asset classes.

Daily cryptocurrency market performance. Source: Coin360

However, there is a limit to how high both asset classes can go before they start to look overextended. With the money supply likely to remain high for a few more years, the attention of investors could shift towards cryptocurrencies and if even if a small portion of this excess liquidity flows into cryptocurrencies, their prices are likely to surge.

BTC/USD

The Bollinger band is a good indicator to show how every consolidation (marked as ellipses on the chart) has been followed by a trending move. Bitcoin (BTC) consolidated for about four months from December 2018 to March 2019 near the lows.

BTC/USD daily chart. Source: TradingView

This long period of consolidation resolved to the upside and started a strong trending move that continued till June 2019 before topping out at $13,973.50. After that, the top-ranked asset on CoinMarketCap has entered several periods of consolidation and almost every time, the breakout has resulted in a trending move.

The current period of consolidation is also likely to result in a strong move. If the consolidation resolves to the upside, the possibility of a break above the $10,000–$10,500 resistance is high.

Such a move could result in a breakout of the resistance line of the symmetrical triangle, which is another positive.

Even though the bulls have not been able to break above the $10,000–$10,500 resistance zone, the BTC to USD pair has been trading near the resistance levels, which suggests that the bulls are in no urgency to close their positions.

While the structure of the chart is positive, there are no guarantees in trading. Hence, traders should also be aware of other possibilities. If the resolution of the range happens to the downside, then, it will be a huge negative. The bears will be further emboldened if the support at $8,130.58 cracks.

ETH/USD

The 20-day exponential moving average ($236) usually acts as a support in an uptrend as the bulls buy the dips to this level. Although Ether (ETH) is currently trading inside the $216.006–$253.556 range, the bulls are defending the 20-day EMA, which hints at a possible change in trend.

ETH/USD daily chart. Source: TradingView

A breakout of $253.556 will indicate the resumption of the uptrend that has a target objective of $288.599. If the momentum can push the second-ranked cryptocurrency on CoinMarketCap above this level, a rally to $320 is possible.

The gradually upsloping moving averages and the relative strength index in the positive territory suggest that the bulls have a minor advantage.

This bullish view will be invalidated if the ETH/USD pair turns down from the current levels or the overhead resistance and slips below the moving averages.

XRP/USD

XRP bounced off the 50-day simple moving average ($0.19), which is a positive sign as it shows that the sentiment has changed from sell on rallies to buy on dips. The 20-day EMA ($0.19) has turned up and the RSI has risen above the 60 level, which suggests that bulls are making a comeback.

XRP/USD daily chart. Source: TradingView

A break above the overhead resistance of $0.214616 will signal strength and increase the possibility of a rally to $0.235688.

However, if the bears defend the resistance at $0.214616, the fourth-ranked cryptocurrency on CoinMarketCap could remain range-bound for a few days. The XRP/USD pair will indicate weakness on a break below the moving averages.

BCH/USD

Bitcoin Cash (BCH) has held the 20-day EMA ($234) for the past four days but the altcoin has failed to bounce strongly from this support, which indicates a lack of urgency among the bulls to buy at these levels.

BCH/USD daily chart. Source: TradingView

The bears will now try to sink the fifth-ranked cryptocurrency on CoinMarketCap below the 20-day EMA. If that happens, a drop to the $217.55 levels is possible.

Conversely, if the bulls can push the price above the overhead resistance at $245.49, a rally to $260 and then to $280.47 is likely.

Both moving averages are flat and the RSI has been trading close to the midpoint, which suggests a balance between demand and supply.

ADA/USD

The pullback to the breakout level of $0.11 was purchased aggressively by the bulls, which is a huge positive. Now, this level becomes the new floor for Cardano (ADA) and a break below it could threaten the uptrend.

ADA/USD daily chart. Source: TradingView

If the bulls can push the price above $0.1380977, the uptrend is likely to resume. Above this level, the sixth-ranked cryptocurrency on CoinMarketCap can rally to $0.173 and then to $0.20.

The upsloping moving averages and the RSI in the overbought zone indicate that the bulls are in command. However, if the bears defend the $0.1380977 level, then the ADA/USD pair is likely to consolidate for a few days before attempting to resume its uptrend.

BSV/USD

The pullback in Bitcoin SV (BSV) stalled at the 20-day EMA ($176) but the bounce off this level lacks strength, which indicates that the buyers are not confident that the rally will resume.

BSV/USD daily chart. Source: TradingView

If the seventh-ranked cryptocurrency on CoinMarketCap fails to break above $200, it is likely to consolidate between $170–$200 for a few days. A break below $170 will signal weakness and could result in a drop to $146.20.

Conversely, if the bulls propel the price above $200, the BSV/USD pair can rally to $227. A break above this level is likely to result in a new uptrend.

BNB/USD

After three months of consolidation, Binance Coin (BNB) has broken out of the overhead resistance at $18.20, which is a huge positive. If the price closes (UTC time) above $18.20, it will complete an ascending triangle pattern that has a target objective of $22.93.

BNB/USD daily chart. Source: TradingView

The 20-day EMA ($16.79) is sloping up and the RSI has risen into the overbought zone for the first time since mid-Feb., which suggests that the trend might be changing in favor of the bulls.

This positive view will be invalidated if the eighth-ranked crypto-asset on CoinMarketCap turns down from the current levels and dips back below $18.20. If that happens, it will indicate a lack of demand at higher levels and point to a few more days of consolidation.

LTC/USD

Litecoin (LTC) is facing stiff resistance at $45.3501, however, the positive thing is that the bulls have not allowed the price to dip below the 20-day EMA ($43.61) for the past few days, which indicates accumulation on dips.

LTC/USD daily chart. Source: TradingView

If the bulls can push the price above $45.3501, the ninth-ranked cryptocurrency on CoinMarketCap can rally to $51, which is again likely to act as a stiff resistance. If the price turns down from this level, the range-bound action could continue for a few more days.

The LTC/USD pair has been an underperformer, which indicates a lack of buying interest. If the pair fails to sustain above $45.3501, it is likely to break below the 20-day EMA and remain stuck in the bottom half of the $39–$51 range.

CRO/USD

Crypto.com Coin (CRO) is witnessing signs of profit booking at $0.146157, which could drag the price to the 20-day EMA ($0.132). This is an important support because the bears have not been able to sustain the price below it for the past many weeks.

CRO/USD daily chart. Source: TradingView

The trend remains bullish, hence, the sentiment is to buy the dips. If the bulls purchase the dip to the 20-day EMA aggressively, the 10th-ranked cryptocurrency on CoinMarketCap is likely to resume the up move and rally to $0.15306.

However, the CRO/USD pair has covered a lot of distance from its March lows, hence, if the traders decide to take some money off the table, then a break below the 20-day EMA is possible. If this support cracks, the correction can extend to $0.11.

LINK/USD

Chainlink (LINK) is in a strong uptrend, which has sent the altcoin skyrocketing into the top ten list of cryptocurrencies. However, due to the sharp up move of the past few days, the RSI has risen deep into overbought territory, which suggests that a consolidation or a minor correction is likely in the next few days.

LINK/USD daily chart. Source: TradingView

The 11th-ranked cryptocurrency on CoinMarketCap is facing resistance at $8.48, which is just below the target objective of $8.5446 as suggested in the previous analysis.

On the downside, the bulls are likely to aggressively defend the 38.2% Fibonacci retracement level of $7.0023. If the LINK/USD pair turns around from this support, the uptrend is likely to resume.

If the bears sustain the price below $7.0023, then it could weaken the momentum and result in a few days of consolidation.

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.

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Author: btcethereumadmin

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Pony Botnet Virus Steals $220k from 30 Types of Digital Wallets – BTC Ethereum Crypto Currency Blog

Pony Botnet Virus Steals $220k from 30 Types of Digital Wallets

In what is being called one of the most ambitious cyberattacks affecting virtual currency to date, Chicago-based IT security services provider Trustwave has revealed that a crybercrime ring known as Pony botnet is using a Trojan virus to steal from 30 types of digital currency wallets.

Trustwave researchers found that credentials for approximately 700,000 digital wallet, email and desktop accounts have been compromised, and that up to $220,000 had been stolen from 85 digital currency wallets as of the time of writing.

Ziv Mador, director of security research at Trustwave, told CoinDesk that consumer and merchant wallets were both affected, and that bitcoins, litecoins, primecoins and feathercoins had been stolen in the attack.

But, what makes the Pony botnet unique, Mador said, is the breadth of its assault:

“The new thing about this complaint is that it was widely spread. The Pony malware affected hundreds of thousands of machines and scanned for digital wallets from 30 virtual currencies on those computers.”

Trustwave indicates that while the attack has been persisting for months, it stopped suddenly on 24th February. However, in talks with other media outlets, Trustwave suggested it believes the cybercriminal network is still operating.

Initial data

Mador indicates that Trustwave has been following Pony botnet since September 2013. The official company blog post on the findings revealed that virtual currencies weren’t the only digital assets attacked, as 600,000 website login credentials have been stolen by the group to date.

The $220,000 total represents the maximum amount stolen, as once cybercriminals have obtained a user’s wallet.dat file, Trustwave noted that both parties share the file and that the true owner is impossible to reveal.

The total confirmed theft so far includes 335 bitcoins, 280 litecoins, 33 primecoins and 46 feathercoins. Trustwave provides a full list of the affected currencies, as well as charts that detail the coordinated efforts of Pony botnet’s attacks in its blog post.

Screen Shot 2014-02-24 at 5.41.45 PM

Stolen passwords across all affected digital assets – not just digital currency wallets – were most commonly retrieved from consumers in Germany, Poland and Italy, with roughly 50% of stolen passwords originating in these locations.

Protecting your wallet from attacks

Trustwave noted that Pony botnet likely found virtual wallets attractive, given their inherent qualities that provide for irreversible transactions, and the ease with which the currencies can be exchanged for fiat.

Still, relatively simple protections can stop Pony botnet’s virus. Said Mador:

“If they use that option and encrypt their wallets with a strong key, then they should be fine, even if the malware were to infect the digital wallet, the botnet would not be able to generate transactions from that wallet.”

Those who believe their wallet may have been compromised by the attack can use a free tool provided by Trustwave that searches for affected wallets by public keys.

Screen Shot 2014-02-24 at 5.25.30 PMImage credit: Digital crime scene via Shutterstock

Disclosure

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

https://www.coindesk.com/pony-botnet-virus-steals-220000-30-digital-wallets

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LINK Support Arrives at Flyp.me Accountless Cryptocurrency Exchange

Sometimes, it seems like there isn’t anything blockchains can’t do. While that may not be 100% true, Chainlink (LINK) is a cryptocurrency project trying its best to make that happen.

Chainlink is an oracle — if you’re thinking of the oracle from The Matrix, then you’re not quite on the right track. While Chainlink can’t predict the future (yet), it can communicate off-chain data back to blockchain smart contracts.

At Flyp.me accountless cryptocurrency exchange, you can now buy and sell LINK token, Chainlink’s native cryptocurrency asset. Best of all, Flyp.me doesn’t require you to sign up for an account to trade LINK, making it an instance crypto exchange that is easy to use.

LINK has been grabbing all-time high prices all year long in a seemingly unstoppable bull run. Ready to grab some for yourself? Head over to Flyp.me and complete three easy steps to get LINK locked and loaded in your wallet.

  1. Select the cryptocurrency you will use to exchange, then enter your LINK wallet destination address and the amount to be exchanged.
  2. Enter a refund address for the cryptocurrency wallet you are exchanging from (ie. if trading with BTC, enter an BTC wallet address).
  1. Send cryptocurrency to the Flyp.me transfer wallet address.

That’s it! Flyp.me will automatically deposit LINK to your specified destination wallet.

Going back to Chainlink, oracles, and off-chain data — let’s unpack those concepts, shall we?

Chainlink Builds Bridges Between Blockchains and Real World Data

Blockchains are meant to change the world, but how can they do that if they can’t talk to the world in the first place?

This question gets to one of blockchain’s core dilemmas. In themselves, blockchains are generally unable to “speak” with anything outside of the network.

Imagine that you want to create a blockchain-based gambling application that allows for bets to be placed on real-world events, such as government election results.

Without having a bridge between real-world event data and the blockchain smart contracts running the application, there is simply no way for the app to automatically determine the result and issue winnings while collecting losses.

Chainlink changes all of that. Between smart contracts and real world data is where Chainlink software inserts itself, enabling communication between the two in a bi-directional manner.

What’s so revolutionary about Chainlink blockchain oracle software? Well, now blockchain smart contracts running apps can pull data from anywhere, anytime, and use it to in-app while also passing blockchain data to non-blockchain systems.

Chainlink (LINK) Token Explained

In a nutshell, anytime a Chainlink network operation takes place, it first requires a request contract and a fulfillment of that request by a node operator.

Like any transaction, a medium of exchange — better known as currency — is required for request contract parties to pay node operators for Chainlink network services.

As you may have guessed, LINK is the currency used in these scenarios.

Additionally, LINK is also used as a staking currency by network validators tasked with keeping the network honest.

About Flyp.me
Flyp.me is the professional tool for instant crypto trading. There is no registration necessary and no hidden analytics tracking you. Moreover, Flyp.me does not control users’ funds, so your private keys are not at risk of being held on third-party services.

Flyp.me currently supports over 30 cryptocurrencies and is continuing to add more: Bitcoin, Ethereum, Zcash, Augur, Litecoin, Syscoin, Pivx, Blackcoin, Dash, Decred, Dogecoin, Flyp.me Token, Gamecredits, Peercoin, Aidcoin, 0x, Vertcoin, Basic Attention Token, BLOCKv, Groestlcoin, DAI, Power Ledger, Enjincoin, TrueUSD, Cardano, Storj, Monero, Maker, TetherUS, DigiByte, USD Coin, MANA, Enigma, Aragon, and now Chainlink.

 

 

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Price Analysis 7/10: BTC, ETH, XRP, BCH, BSV, ADA, LTC, BNB, CRO, EOS – BTC Ethereum Crypto Currency Blog

As Bitcoin corrected on July 9, altcoin prices dropped but many are holding above their support levels, suggesting the uptrend will resume.

Veteran trader Peter Brandt believes that a new altcoin season is likely to start in the near future and he predicted that altcoins are likely to outperform Bitcoin (BTC) during this next run. In the short-term, altcoins could embark on a rally without the support of Bitcoin but in the long-term it is unlikely that altcoins will rally if Bitcoin struggles to move up.

On July 9, the S&P 500 corrected and that resulted in a drop in Bitcoin, which shows that the correlation between the two remains intact. As Bitcoin broke below $9,200 level, it attracted profit booking from altcoins and pulled their prices lower. 

Daily cryptocurrency market performance. Source: Coin360

In other news, Coinbase is reported to be preparing to list on a U.S. stock exchange at some point this year according to Reuters sources. If that happens, it could be a huge boost for the crypto sector as the listing is likely to attract the attention of several traditional investors.

BTC/USD

The top-ranked asset on CoinMarketCap had closed (UTC time) above the 50-day simple moving average ($9,373) on July 8, which was a positive sign but the bulls could not build upon this breakout and the price dipped back below the moving averages on July 9.

BTC/USD daily chart. Source: TradingView

Both moving averages remain flat and the relative strength index is just below the midpoint, which suggests a balance between supply and demand.

If the bears sink the price below the trendline of the ascending triangle, the advantage will shift in favor of the bears and a drop to $8,638.79 is possible.

Conversely, if the BTC/USD pair rises from the current levels or the trendline, the bulls will again try to resume the up move. If the price sustains above $9,500, a rally to $10,000 will be on the cards.

ETH/USD

Ether (ETH) turned down from the minor resistance at $249.195 on July 9, which suggests that the bears are aggressively defending the $249.195–$253.556 resistance zone. 

ETH/USD daily chart. Source: TradingView

The bulls are currently attempting to defend the 20-day EMA ($234). If the second-ranked cryptocurrency on CoinMarketCap rebounds off this support, the bulls will once again attempt to scale the price above the overhead resistance zone.

A close (UTC time) above $253.556 will increase the possibility of a rally to the next target at $288.599.

Conversely, if the bears sink the price below the moving averages, it could keep the ETH/USD pair range-bound for a few more days.

XRP/USD

XRP turned down from the first resistance of $0.214616 on July 7, which shows that the aggressive bulls booked profits at this level. Currently, the bulls are attempting to keep the altcoin above the 50-day SMA ($0.198).

XRP/USD daily chart. Source: TradingView

If the fourth-ranked cryptocurrency on CoinMarketCap bounces off the current levels, the bulls will once again try to propel the price above $0.214616. If they succeed, it could pave the way for a rally to $0.235688.

Instead, if the bears sink the XRP/USD pair below the moving averages, it could signal shorting at higher levels. Such a move could drag the price to the $0.17 levels once again.

BCH/USD

The bulls have not been able to propel Bitcoin Cash (BCH) above the immediate resistance of $245.49 for the past four days. This suggests that the bears are aggressively defending this level.

BCH/USD daily chart. Source: TradingView

If the bears can keep up the selling pressure and sink the fifth-ranked cryptocurrency on CoinMarketCap below the 20-day EMA ($233), a drop to $217.55 is possible. A break below this support can drag the price to $200.

Contrary to this assumption, if the BCH/USD pair rebounds off the current levels, the bulls will make another attempt to scale the price above $245.49. If they succeed, a rally to $260 and then to $280.47 is possible.

BSV/USD

The July 6 rally in Bitcoin SV (BSV) has not seen follow up buying that has resulted in profit booking by the short-term bulls. 

Usually, in a strong up move, the corrections last anywhere between one to three days. In this case, the pullback has entered the fourth day, suggesting weakening momentum.

BSV/USD daily chart. Source: TradingView

If the bears sink the sixth-ranked cryptocurrency on CoinMarketCap below $170, it would be a huge negative that can drag the price to $146.2 once again. 

The 20-day EMA ($174) is gradually sloping up and the RSI is in the positive territory, which suggests that bulls have a slight advantage. 

If the BSV/USD pair rebounds off the 20-day EMA and rises above $200, a rally to $227 is possible. The next trending move is likely to start above $227 or on a break below $146.20. 

ADA/USD

As suggested in the previous analysis, Cardano (ADA) has corrected to the breakout level of $0.11. If the altcoin rebounds off the $0.10–$0.11 zone, it will indicate that the bulls are keen to defend this zone and it will act as a new floor for the price.

ADA/USD daily chart. Source: TradingView

A strong bounce off the support zone could offer a buying opportunity to traders with a close stop-loss. The uptrend is likely to resume after the buyers propel the seventh-ranked cryptocurrency on CoinMarketCap above the intraday high of $0.1380977 made on July 8. Above this level, the next target is $0.173 and then $0.20.

Both moving averages are sloping up and the RSI is in the positive zone, suggesting advantage to the bulls. This positive view will be negated if the ADA/USD pair breaks below $0.10. 

LTC/USD

The bulls could not sustain Litecoin (LTC) above the immediate resistance of $45.3501 on July 9, which resulted in profit booking by the aggressive bulls. This has dragged the price down to the 20-day EMA ($43).

LTC/USD daily chart. Source: TradingView

If the eighth-ranked cryptocurrency on CoinMarketCap rebounds off the current levels, the bulls will again try to push the price above $45.3501. If they succeed, a rally to $51 is possible. 

On the other hand, if the LTC/USD pair breaks below the 20-day EMA, the bears will try to sink the price to the support of the range. The flat moving averages and the RSI just above the 50 level suggests a balance between supply and demand.

BNB/USD

Binance Coin (BNB) witnessed profit booking at $17.50 on July 9 that dragged the price lower, however, the positive thing is that the bulls have not allowed the altcoin to dip below the first support at the 50-day SMA ($16.51).

BNB/USD daily chart. Source: TradingView

If the ninth-ranked crypto-asset on CoinMarketCap rebounds off the moving averages, it will increase the possibility of a rally to $18.1377. A breakout of this level will be a positive sign as it will open the doors for a move to $21.50.

The 20-day EMA ($16.24) is gradually sloping up and the RSI is in the positive territory, which suggests a minor advantage to the bulls. 

This view will be invalidated if the BNB/USD pair turns around and breaks below the moving averages because such a move will indicate profit booking at higher levels. 

CRO/USD

Crypto.com Coin (CRO) remains in a strong uptrend as both moving averages are sloping up and the RSI is in the overbought zone, which suggests that bulls have the upper hand.

CRO/USD daily chart. Source: TradingView

The next target on the upside is $0.15306 and if the bulls can propel the 10th-ranked cryptocurrency on CoinMarketCap above this level, the uptrend can extend to $0.20. 

The only warning sign is that the RSI has risen to about the same levels from where the CRO/USD pair had started a minor correction on June 23.

If the price dips and sustains below $0.138916, it could result in a drop to the 20-day EMA ($0.128).

EOS/USD

Although EOS closed (UTC time) above the minor resistance at $2.6209 on July 8, the bulls could not carry the price to the next level at $2.8319, which is a negative sign because it indicates that demand dried up at higher levels. 

EOS/USD daily chart. Source: TradingView

The 11th-ranked cryptocurrency on CoinMarketCap turned down from $2.7296 on July 9 and is currently finding support at the moving averages. If the altcoin bounces off the current levels, the bulls will make another attempt to carry the price to $2.8319. A break above $2.8319 can result in a rally to $3.1104. 

Conversely, if the bears sink the EOS/USD pair below the moving averages, then a drop to the support of the range is possible. The next trending move will start after the price breaks out of the $3.1104–$2.3314 range.

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.

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Author: btcethereumadmin

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ModiHost’s Token Is Live on HitBTC, the Leading European Bitcoin Exchange – BTC Ethereum Crypto Currency Blog

Switzerland, July 9th 2020 – ModiHost, a hotel management system that uses artificial intelligence to deliver personalised experiences to hotel guests, is proud to announce that its token is live for trading on the HitBTC exchange starting from Thursday 9th.

HitBTC was founded in the early stages of blockchain growth, making it one of the most deep-rooted and reliable exchanges in the industry. HitBTC exchange is the largest spot trading market in the industry with over 800 trading pairs and 500+ spot instruments supported, including Bitcoin, Ethereum, EOS, Litecoin, Tron and others. “HitBTC is an authority in the blockchain world and we are proud to become part of this trustworthy family. Today’s announcement will help to greatly increase the trading volume of ModiHost’s Token as we are partnering up with the leading European bitcoin exchange, HitBTC. Despite this year being particularly difficult for the tourism industry, ModiHost is continuing to expand and reach key milestones” says Stephan Radwitz, ModiHost CEO.

Just two weeks ago, ModiHost announced the availability of its minimum viable product as it successfully onboarded more than 60 hotels across five countries: France, Italy, Spain, the UAE, and India.

With ModiHost, instead of forcing hotels to purchase and hold tokens, hotels can instead borrow tokens from private lending pools to cover operating fees. Pool operators must set the fee they charge hotels low enough so that their tokens are lent frequently, but also high enough to ensure fees give the token holders a competitive reward, while also leaving enough profit for themselves. The innovative pool system may also work as an extra income source for these holders.

The pool mechanism has several advantages: it incentivises token holders to become active participants in the ModiHost ecosystem, it allows token holders to benefit fully from the value of their tokens, and incentivises all parties involved to promote ModiHost, since participation further aligns the interests of holders with adoption of the platform.

After going live on HitBTC, ModiHost expects to boost the attraction of the platform for those looking to trade tokens. This achievement will also allow ModiHost community members to regularly gather information regarding the crypto asset and its competitors from a separate, reliable source.

About ModiHost
ModiHost, a hotel management system, harnesses the power of AI to take the hospitality industry to the next stage in its evolution, using AI to run hotels more effectively than ever before. Thanks to AI technology, Modihost creates an ad-hoc customer profile, making guests feel special by predicting their needs and behaviour, and suggesting services automatically, therefore allowing hotels to increase their sales by up to 25% and improve customer experiences. Additionally, it eliminates outdated procedures, reduces repetitive workload and raises staff efficiency, resulting in lower costs.

About HitBTC
HitBTC is a crypto exchange with over 800 trading pairs. The platform was created in 2013 and provides exchange, custodial and other related services. HitBTC offers a range of APIs such as REST, WebSocket, FIX API. The exchange’s UI was developed to meet the needs of the most demanding and sophisticated traders. Users can take advantage of competitive trading fees via HitBTC’s Trading Fee Tier system.

The exchange listing can be found at: https://hitbtc.com/AIM-to-BTC

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 ModiHost’s Token Is Live on HitBTC, the Leading European Bitcoin Exchange appeared first on Bitcoin News.

https://news.bitcoin.com/modihosts-token-is-live-on-hitbtc-the-leading-european-bitcoin-exchange/

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All Things Alt: Advanced Algorithms, Maxcoin Reborn and a Second Lap for Dogecoin – BTC Ethereum Crypto Currency Blog

All Things Alt: Advanced Algorithms, Maxcoin Reborn and a Second Lap for Dogecoin

UPDATE: Josh Wise has won the online NASCAR vote thanks to the dogecoin community’s efforts.

According to NASCAR, Wise was quoted as saying:

“That’s unreal. I can’t believe that. That’s amazing. Thank you everybody watching.”

Wise and his team will now take part in tomorrow’s 2014 Sprint All-Star Race in Charlotte.

It was another strong week in the world of alternative digital currencies, as several coins saw impressive price gains while developers sparked renewed activity in some established coin communities.

While there’s always plenty of action in the alt world, here are some of the more noteworthy developments from the past week.

New life for Maxcoin?

Max KeiserMax Keiser

Maxcoin, the altcoin championed by journalist and commentator Max Keiser, debuted to much fanfare earlier this year but stumbled following technical problems during the rollout.

The price spiked to roughly $3 within days, and fell just as quickly. As of this writing, the average price for a single maxcoin is just below US$0.05.

Yet, there may be renewed development taking place in the maxcoin community, according to a post on the Bitcoin Talk forum by one of the altcoin’s core developers, Luke Mitchell.

Mitchell said in a statement that maxcoin is alive and well, declaring:

“The coin is still under development and is not going away any time soon. The MaxCoin community is growing and, despite the negative press it receives – of which much, I believe, is from people who hoped to “get rich quick”, as goombaloon so succinctly mentions – we are working with developers on a number of MaxCoin related projects.”

Mitchell also dismissed rumors that he and the development team acted to secured large amount of maxcoins during launch as “unfounded and false”.

CoinDesk reached out to Mitchell for comment but did not receive an immediate response.

Keiser himself recently fanned the flames of speculation of a maxcoin revival in a 14th May post to his Twitter account:

#Maxcoin is an easy double from here. @maxcoinproject @paradimeshift @PlanetPonzi

— Max Keiser (@maxkeiser) May 14, 2014

Could maxcoin be making a comeback? The alt world will have to wait and see what Keiser and his team have up their sleeves.

Dogecar’s second lap

Dogecoin Nascar rearNASCAR driver Josh Wise, beloved sports icon of the dogecoin community, may be getting a second chance behind the wheel of the crowdfunded Dogecar.

Wise is locked in a tight bid to follow up his impressive performance at Talladega last month at the NASCAR Sprint All-Star Race on 17th May in Charlotte, North Carolina. Wise is one of a long list of drivers competing in an online vote, the winner of which gains entry into the race.

Participants can vote as many times as they wish. Since the contest was announced, the dogecoin community has undertaken a get-out-the-vote campaign ranging from Twitter posts, reddit bulletins and, as always, elaborately conceived YouTube videos.

Signs suggest that Wise, despite the odds, may succeed in his bid. According to a member of the dogecoin community on reddit claiming to have a connection inside NASCAR, Wise is currently in second place behind driver Danica Patrick.

Brisbane gains an alt-dispensing ATM

Queensland, Australia, has received its first bitcoin ATM at a local cafe in South Brisbane. In addition to bitcoin transactions, the machine will also provide support for litecoin and dogecoin.

The ATM, developed by Peru-based ATM manufacturer Bit2Bit, is located at The Roastery. Users will be able to buy and sell digital currency, as well as make BTC, LTC and DOGE withdrawals.

One of the co-owners of The Roastery, Bruce Carrall, told the Brisbane Times that the cafe launched the ATM to tap into the local passion for digital currencies, saying:

“There’s a lot of people who have been waiting for this. There’s Bitcoiniacs who have meetings everywhere every week, and these groups are growing rapidly.”

Best of all, fans of litecoin and dogecoin will be able to use receipts from the machines to make purchases at the cafe. Next time you’re in South Brisbane with your DOGE wallet handy, you might want to think about stopping buy for a cup of coffee.

The rise of X11

x11In recent months, innovations have come out of the altcoin community that have pushed new mining approaches and algorithms into the fore. From Scrypt-N to Groestl, more advanced systems for veryifing transactions within the coin network are reshaping the altcoin landscape.

According to a document created by pool operator SuchPool.pw, X11 “provides a very efficient way to mine coins”. The algorithm does not pose the same power needs as other proof-of-work digital currencies, results in lower heat ranges and and greater hardware longevity as a result.

Pioneered by darkcoin, X11 has slowly gained traction in terms of new coin implementation. Darkcoin, along with Hirocoin and québecoin, are perhaps the most notable examples of X11 coins. Additionally, the algorithm has been integrated by some elements of the multipool community, with several pools offering X11 as a mining option.

For altcoin miners, X11 presents an interesting alternative that could become more prominent within the ecosystem. Those hoping to increase the lifetime of their mining rigs may want to consider this new algorithm as a viable option.

Strange alt of the week

smurfscoinIn a recent edition of All Things Alt, we highlighted facebookcoin, an altcoin which wandered into the risky legal area of trademark infringement.

The altcoin development community is at it again with thesmurfscoin, a proof-of-stake coin that relies on the loveable Smurf characters of 1980s cartoon fame.

Thesmurfscoin’s odd name and utilization of proprietary images from the recent The Smurfs feature films for its insignia has earned it this week’s Strange Alt of the Week award.

Unlike most new proof-of-stake coins, thesmurfscoin is launching without an initial proof-of-work phase, instead opting for a distribution phase executed by the developer. Forty percent of the coin’s 100m max supply was scheduled to be distributed to users, according to a post on Bitcoin Talk.

A multipool has been set up to provide buy support for thesmurfscoin, which thus far has only been listed on one exchange. Though, this strategy mirrors the multipool approach previously employed by members of the blackcoin community.

Have a tip about a notable happening in the altcoin world? Email CoinDesk at [email protected]

Additional images via X11 and Thesmurfscoin

Disclosure

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

https://www.coindesk.com/advanced-algorithms-maxcoin-dogecar

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If Crypto Traders Abandoned Litecoin Why Are Investors Hoarding LTC? – BTC Ethereum Crypto Currency Blog

On-chain and trading data signal that traders have abandoned Litecoin, but for some reason long-term investors are hoarding LTC.

Price wise, Litecoin (LTC) has had a pretty rough year and currently the altcoin is down 51% over the past twelve months. The lack of GitHub activity and planned protocol upgrades have Litecoin co-founder Charlie Lee to admit 2019 saw a historic low in the number of developers working on Litecoin Core, the software behind network nodes.

The beginning of 2020 was no different and Charlie Lee asked for voluntary LTC miner donations to help boost development funding. Uncertainties regarding Litecoin’s future have caused investors to lose interest in the project and this is reflected both on-chain and in LTC’s trading metrics. 

The interesting thing is, even though most would consider investors’ disinterest a negative driver, some have been quietly hoarding LTC.

Litecoin trading volume drops to a 2-year low

Volume is the single most relevant indicator of traders’ interest and Litecoin has been failing miserably in this area. Traded volume on major exchanges has been trending down for the past twelve months and has recently dropped to its lowest level in two years.

Litecoin 30-day average volume. Source: TradingView

Litecoin ranks third on Nomic transparent trading volume at $80 million per day. This is 50% above Bitcoin Cash (BCH), and EOS but the figure remains 45% below the previous eleven months when there was $146 million in daily volume on average.

A number of reasons could be behind the drastic change and it should be noted that even lower activity on exchanges does not necessarily translate to less blockchain usage, that has been the case.

On-chain metrics provide realistic insights into transfers, fees, active addresses, and many useful indicators that will be of interest to traders.

Adjusted transfer value

Transfer value is a leading on-chain indicator measuring user activity as it adds up all coins moved daily. CoinMetrics analysis provides more precise data by adjusting these figures to exclude mixers and transactions between the same entities.

Litecoin daily adjusted transfer sum 14-day average. Source: CoinMetrics

Daily adjusted transfers have been hovering around $20 million which is 83% below peak 2019 levels. The current level is comparable to Tezos (XTZ), a much newer and smaller cryptocurrency whose primary use-case has nothing to do with fast or cheap transactions.

A noticeable drop in transaction fees

Charlie Lee’s proposal included smaller block intervals than Bitcoin (BTC) and a simpler algorithm which removed the signature from the original data for a higher transaction output.

Such a move might have brought substantial interest in Litecoin (LTC) in the past but it is no longer valid as users became aware that 270 confirmations were required to match the computing power behind 3 Bitcoin mined blocks, according to Luke Childs’ How Many Confirmations analysis.

Litecoin mean fees per transaction 14-day average (USD). Source: Coinmetrics

LTC’s mean fees per transaction dropped to $0.011 which is the lowest level since October 2015. Although many reasons could be behind this, including 75% SegWit usage, the previous daily transfer value analysis points to weak demand from its users.

While Bitcoin’s median block size exceeds 1.2 megabytes most of the time, Litecoin averages below 0.2 megabytes despite both having similar capacity. 

Low usage translates to small fees, reducing miners’ interest and resulting in a negative feedback loop as investors pay attention to the processing power behind each blockchain.

Reduced hashrate

Litecoin hashrate. Source: CoinWarz

The Litecoin hashrate decreased by 45% since its October 2019 halving, which usually raises concerns of 51% attacks. This unused processing power capability could theoretically be used to compete with honest miners.

Either way, there’s no positive read of fewer miners directing investments towards Litecoin. Unlike trading, mining activity is exclusively a long-term commitment as the payout usually exceeds a quarter and sometimes an entire year.

Investors are hoarding instead of dumping LTC

After so many negative indicators, one would expect holders’ activity to display weakness as both the price and network usage have been trending down for over a year. 

One could also mention the lackluster performance of recent code advancements, including the MimbleWimble-technology privacy capability proposed in October 2019.

Litecoin unspent UTXO age. Source: Investificar.com.br

Oddly enough, the opposite holds, as 63.8% of Litecoin supply remains untouched in the past 12 months. In fact, this is the highest level ever.

According to the above Hodl Wave chart, also known as the UTXO age distribution chart, the percentage of coins that haven’t moved is increasing at an extraordinary pace.

The number of coins unmoved for 12 or more months at the beginning of 2020 stood at 56.7%. This additional 7% held by long term-investors is currently valued at $209 million which is enough to acquire 30% of the entire DASH supply. 

There’s no way to assure the rationale behind such hoarding activity, but its impact over circulating supply is a net positive. 

This activity doesn’t change the fact that the same amount of LTC will continue to be mined every day until next halving in 2023, nevertheless it provides a critical price support level.

Recently, investors have been speculating about a potential Litecoin integration with Cardano (ADA) and if true, this could be a bullish factor for Litecoin. 

There is also the possibility of a crypto-market bull trend occurring and as investors begin to speak about an ‘alt season’ starting, Litecoin might face increased odds of large pumps as long-term investors tend to be less tempted to sell at the first price move.

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.

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Price Analysis 7/8: BTC, ETH, XRP, BCH, BSV, ADA, LTC, BNB, CRO, EOS – BTC Ethereum Crypto Currency Blog

Bitcoin is range-bound but altcoins are rallying, indicating increasing interest among traders looking to make sizable gains off altcoins.

Altcoins have been buzzing around this week and this has reduced Bitcoin’s (BTC) dominance to 63%. Pantera Capital founder Dan Morehead believes that altcoins are going to outperform Bitcoin, the top-ranked asset on CoinMarketCap, over the next couple of years. This does not mean that Morehead is negative on Bitcoin price because he clarified that the firm expects Bitcoin to “to go up a ton, but altcoins will go up even more.”

However, investors should be careful about what they invest because pump and dump schemes and liquidity issues continue to plague many altcoins. Take for example, the recent TikTok challenge which saw Dogecoin (DOGE) price pump by more than 60% in 24-hours.

Such challenges, when not backed by strong fundamentals, might end in disaster for several investors. As a caution against risky investing, the operator of the @Dogecoin Twitter account appealed to investors and urged them to do their due diligence before buying instead of falling for “FOMO or manipulation.”

Daily cryptocurrency market performance. Source: Coin360

Due to Bitcoin’s range-bound action, crypto derivatives volumes have dropped 35.7% in June, according to a CryptoCompare report. However, Bitcoin options trading volume on the Chicago Mercantile Exchange rose to an all-time monthly high in June.

Options trading is difficult to decipher because the experts adopt various complicated strategies using several strike prices. Therefore, traders should not get carried away if they see an extreme out of the money call option being purchased.

BTC/USD

After stalling at the 50-day simple moving average ($9,376) for the past two days, Bitcoin (BTC) has risen above the resistance which is a positive sign as it indicates demand at higher levels. 

BTC/USD daily chart. Source: TradingView

If the bulls can sustain the price above the 50-day SMA, a rally to $9,795.63 and then to $10,000 is possible. Currently, both moving averages are flat and the relative strength index is just above 50, which points to range-bound action for a few more days.

This view will be invalidated if the bulls can propel the BTC/USD pair above $10,000–$10,500 resistance zone. However, this looks like an uphill task as of now.

The trend will turn in favor of the bears if the pair turns down from the current levels and slides below the trendline of the ascending channel. If that happens, a deeper correction to $8,130.58 is possible.

ETH/USD

Ether (ETH) continues to consolidate between $216.006–$253.556. The bulls will attempt to push the price above the overhead resistance of $253.556. If they succeed, the uptrend is likely to resume with the next target objective at $288.599.

ETH/USD daily chart. Source: TradingView

Both moving averages are sloping up and the RSI has risen above 60, which suggests that bulls have the upper hand.

However, the bears are likely to mount a strong defense at the overhead resistance of $253.556. If the second-ranked cryptocurrency on CoinMarketCap turns down from this level, it could continue its range-bound action for a few more days.

The first sign of weakness will be a break below both moving averages and the ETH/USD pair is likely to turn negative on a break below $216.006.

XRP/USD

XRP dipped on July 7 but found support at the 20-day exponential moving average ($0.184). This is a positive sign as it shows that the sentiment has turned bullish and the buyers are using dips to accumulate at lower levels.

XRP/USD daily chart. Source: TradingView

Today, the relief rally resumed when the bulls pushed the fourth-ranked cryptocurrency on CoinMarketCap above the downtrend line. The first target is $0.214616 and if this is also crossed, the rally can extend to $0.235688.

On the downside, the bulls are likely to defend the 20-day EMA, which has started to turn up and the RSI has jumped into the positive territory. This suggests a minor advantage to the bulls.

This positive view will be invalidated if the bears sink the XRP/USD pair back below the downtrend line and the 20-day EMA.

BCH/USD

Bitcoin Cash (BCH) has been facing resistance at the $245.49 level for the past two days but the bulls have not allowed the price to dip below the 50-day SMA ($237), which is a positive sign.

BCH/USD daily chart. Source: TradingView

The bulls are likely to push the fifth-ranked cryptocurrency on CoinMarketCap above $245.49, which can result in a rally to $260 and above it to $280.47. A break above this resistance can propel the BCH/USD pair to $360.

This view will be invalidated if the pair turns down from $260 or $280.47. In such a case, the pair is likely to extend its stay inside the range.

BSV/USD

Since the 26.12% rally on July 6, Bitcoin SV (BSV) has been consolidating the gains. The positive thing is that the altcoin has not even broken below the immediate support at the 50-day SMA ($180).

BSV/USD daily chart. Source: TradingView

This suggests that the bulls are not closing their positions in a hurry because they anticipate the sixth-ranked cryptocurrency on CoinMarketCap to eventually break out of $200 and rally to the next target of $227. The bulls might attempt this move within the next couple of days.

If the momentum can pick up and the buyers can propel the BSV/USD pair above $227, a new uptrend is likely. The target objective of such a move is $308.

However, bears are likely to have other plans as they will try to sink the BSV/USD pair below the moving averages. If successful, it will suggest that the July 6 rally was an aberration.

ADA/USD

Cardano (ADA) broke above the stiff overhead resistance zone of $0.10–$0.11 on July 7, completing a huge bottoming process that has a minimum target objective of $0.20.

ADA/USD daily chart. Source: TradingView

However, after breaking out of such a long bottom, the price usually retests the breakout level, which in this case is $0.11. If the bulls purchase the dip to $0.11, it will indicate the formation of a new floor at that level.

Conversely, if the seventh-ranked cryptocurrency on CoinMarketCap breaks below the $0.11–$0.10 support zone, it will suggest that the current breakout was a bull trap.

The sharp rally of the past few days has propelled the RSI to 80 levels, which has usually signaled a short-term top. Therefore, it is better to wait for a correction to buy on dips rather than chase prices higher as the risk to reward ratio is skewed to the downside.

LTC/USD

Although the bears defended the 50-day SMA ($44) on July 6 and 7, they could not sink Litecoin (LTC) below the 20-day EMA ($43), which suggests accumulation on dips.

LTC/USD daily chart. Source: TradingView

Today, the bulls have pushed the eighth-ranked cryptocurrency on CoinMarketCap above the 50-day SMA. There is a minor resistance at $45.3501 but if the bulls can push the price above this, a move to $51 will be on the cards.

The gradually upsloping 20-day EMA and the RSI in the positive zone also suggest an advantage to the bulls.

However, if the LTC/USD pair turns down from $45.3501, it can dip to the 20-day EMA. A break below this support will signal weakness.

BNB/USD

Binance Coin (BNB) has risen sharply for the past three days, which suggests that bulls are back in the game. The up-move has scaled above both moving averages and is on its way to the next resistance at $18.1377.

BNB/USD daily chart. Source: TradingView

If the momentum sustains, the ninth-ranked crypto-asset on CoinMarketCap can break above $18.1377 and rally to $21.50. The 20-day EMA ($16) has started to turn up and the RSI has risen above 60 levels, which suggests an advantage to the bulls.

However, the bears are unlikely to throw in the towel easily. They will attempt to stall the rally at $18.1377 as they have done twice before (marked using ellipse on the chart). Therefore, traders should keep an eye on this level because if the BNB/USD pair turns down from it, the range-bound action is likely to extend for a few more days.

CRO/USD

Crypto.com Coin (CRO) has continued its journey northward, which shows demand at higher levels. This up move can reach $0.15306, which is the intraday high made during the spike on July 12 of last year.

CRO/USD daily chart. Source: TradingView

The bears are likely to defend the $0.15306 level aggressively, resulting in a minor correction or a consolidation. A break below the 20-day EMA ($0.12) will be the first indication of a deeper pullback.

Conversely, if the momentum picks up and the bulls propel the 10th-ranked cryptocurrency on CoinMarketCap above $0.15306, the next target is $0.20.

EOS/USD

EOS corrected on July 7 but did not give up much ground, which shows that the bulls bought the dips and were in no hurry to close their positions. The bulls have pushed the price above the immediate resistance of $2.6209 today.

EOS/USD daily chart. Source: TradingView

The 11th-ranked cryptocurrency on CoinMarketCap can now rally to $2.8319 and if the momentum sustains, the possibility of a break above this overhead resistance increases. If the EOS/USD pair closes (UTC time) above $2.8319, the rally can extend to $3.1104.

However, the bears are likely to mount a strong defense at $2.8319. If the pair turns down from this level, it could remain range-bound for a few more days. As long as the price remains above the moving averages, the bulls hold a minor advantage over the bears.

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.

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Introducing the CoinDesk 20: The Assets That Matter Most in Crypto – BTC Ethereum Crypto Currency Blog

Introducing the CoinDesk 20

Which cryptocurrencies matter most to the market?

That question gets tougher to answer every day as new digital assets join the thousands already traded. Those looking to figure out which ones are the most important have often used simple metrics such as market capitalization to sort through the Lego pile of coins and tokens. Such simplistic filtering tells only part of the story and is fraught with the potential for manipulation. (Read Anna Baydakova’a recent article for a salient illustration.)

That’s why CoinDesk has launched the CoinDesk 20. This group of 20 digital assets makes up most of what people mean when they say “the cryptocurrency market.” But volume is not the sole criterion for inclusion.

cryptoassetsquarterlyreturns
Returns of the CoinDesk 20 for 2020 Q2.
Source: Nomics

While these 20 cryptocurrencies, tokens and stablecoins together are worth more than 90% of the entirety of the crypto market, the list is not derived simply from valuations. Rather, it involves a smarter way to find the assets most relevant to the market.

A more sophisticated methodology

It starts with the exchanges. But not every exchange – far from it.

On the wild frontier of crypto trading, hundreds of exchanges pop up all the time. Few are trustworthy and reliable. Only a sliver have done what they can to remove manipulation.

CoinDesk’s research team analyzed several studies on the veracity of trading volumes on cryptocurrency exchanges. The team settled on reports from three different outfits – Bitwise, The Block and Digital Asset Research – as the ones deemed to have the soundest research. Of the dozens of venues the reports analyzed, only eight exchanges appeared on all three. Those eight are Bitfinex, Bitflyer, Bitstamp, Coinbase, Gemini, itBit, Kraken and Poloniex.

Notably absent from the list are Huobi, OKEx and Binance, the last perhaps the largest cryptocurrency exchange in the world. That’s because each of them is absent from at least one of the above lists. To be sure, each of those exchanges offers traders price discovery on some key markets. However, in some of the reports the researchers found sufficient cases of questionable volume on those exchanges to raise some doubt about their reliability. Their exclusion from the CoinDesk 20 may be revisited in the future. 

From the group of eight exchanges, CoinDesk added up the volume on every asset traded by quarter, using data provided by Nomics. Any cryptocurrency or digital asset that doesn’t trade on at least two of the eight exchanges didn’t qualify for the CoinDesk 20 because having an asset trade on more than one exchange enables arbitrage opportunities should prices move too far out of whack from one venue to another. That ensures the price and volume data reflect the true market. We then ranked the cryptocurrencies by volume over the last two consecutive quarters. Performing the ranking over two quarters filters out any asset that would have, say, one active month but otherwise show no sustained trading volume. Using the same model, CoinDesk will re-run this analysis every quarter and update the list accordingly.

It should be noted Bitwise no longer includes Bitfinex’s prices in how it calculates its index values, a separate operation from its “real volume” calculations. It’s the latter that matters in the methodology for selecting the CoinDesk 20.

Bitwise continues to include Bitfinex in the exchanges contributing to that measure of volume, the data for which continues to be updated and published. Bitwise removed Bitfinex from its index pricing sources in 2019 after the New York Attorney General filed a lawsuit against the exchange. It did so due to concerns about prices deviating in the future should anything happen in the legal case. However, in an email Wednesday, Bitwise’s head of research told CoinDesk, “We still very much believe that Bitfinex has real volume.”

The Bitwise real volume report of March 2019 also notes that Bitfinex used market surveillance tools to “help detect market manipulations, such as spoofing and wash trading through the real-time and historical analysis of trades, order books and other market information.” This set it apart from some other exchanges Bitwise surveyed, including Binance. So did the fact that Bitfinex registered as a money services business with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN).

As it turns out, the 20 assets making up the first quarterly construction of this filtered list comprise 99% of all the trading volume on the eight exchanges. What’s more, as of June 17, the current CoinDesk 20 represented $239.38 billion in market cap, according to data compiled by Messari. The remaining 5,145 cryptocurrencies were worth $25.85 billion. That makes the CoinDesk 20 representative of 90.3% of the entire cryptosphere’s market cap.

By the same token, the CoinDesk 20 is not a ranking of the relative worth or importance of each crypto or blockchain project. It is not a judgment on the quality of the technology or the caliber of the team developing it. No doubt some readers will have strong opinions on why this or that asset should be in the CoinDesk 20 and why others shouldn’t be. No doubt, over time some newcomers will join this list and existing assets will drop off it. For now, though, these are the results of a clear, objective approach using reliable data. 

Likewise, compiling the best data in crypto often requires trade-offs. Such is the case when viewing tether (USDT) on the CoinDesk 20 asset page. As we go live, the market cap shown for the stablecoin is roughly $6 billion. Yet, this is only the value of the token as found on the Ethereum blockchain. In fact, tether also operates on the Omni, Tron, EOS, Liquid, Algorand, and SLP networks. Those are valued at an additional $4.9 billion, and CoinDesk is working on a way to incorporate accurate and timely figures for these other blockchains into the total number.

More data

CoinDesk is doing more than just making a list of assets, however. In addition, investors, traders and researchers are provided with a deep dive into the data they need to make educated decisions about these 20 digital assets.

Each individual asset page contains information about the type of currency, its returns, volume, volatility, transactions, fees, value proposition and consensus mechanism, to name just a few of the data points. This will give anyone researching the asset a clearer sense of how it relates to others and to other asset classes.

coindesk20_listofassets_2020july1
The assets in the CoinDesk 20.

The CoinDesk 20 is a new tool for analyzing a new space. We look forward to evolving it – carefully and gradually – as the field of digital assets progresses. We’ll certainly tweak the data we ingest and alter how we present it on our asset pages. We may even revisit the methodology based on new perspectives and reader feedback. We invite you to share yours. If you have thoughts on the CoinDesk 20, please share them at [email protected].

In an asset class that is often fraught with uncertainty, the CoinDesk 20 is meant to serve as an indispensable tool for the crypto investor. It’s a simple list of 20 assets, but behind that list is a sophisticated lens, one that reveals the true centers of gravity within the cryptocurrency market. 

Disclosure

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

https://www.coindesk.com/introducing-the-coindesk-20

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Price Analysis 7/6: BTC, ETH, XRP, BCH, BSV, LTC, ADA, BNB, CRO, EOS – BTC Ethereum Crypto Currency Blog

Bitcoin and altcoins pushed higher today and many are showing signs of a possible trend reversal.

The U.S. equity markets, gold, crude oil and the crypto markets are all up today. This shows that the U.S. investors have returned from the holiday weekend charged up and ready to buy assets to fight the likely devaluation in the U.S. dollar due to the Federal Reserve’s current monetary policy. 

Sino Global Capital CEO Matthew Graham believes that China wants to internationalize the renminbi as a direct challenger to the dollar. Hence, the digital yuan will use the latest technologies to counter “Swift, CHIPS, Fedwire […],” which are all technologies used by the U.S. dollar but are antiqued and expensive. 

Daily cryptocurrency market performance. Source: Coin360

Bitcoin’s (BTC) dominance, which was close to 70% on May 15, has gradually dropped and now rests below 64%. This suggests that after the halving, trader’s interest in the top-ranked asset on CoinMarketCap declined compared to the altcoins. 

Does this mean that altcoins are likely to outperform Bitcoin in the short-term or is this a rally that will be sold into? Let’s analyze the charts to find out.

BTC/USD

Repeated failure by the bears to sustain Bitcoin (BTC) below $9,000 has attracted buyers who have now pushed the price above the 20-day exponential moving average ($9,255). The bears might aggressively defend the 50-day simple moving average ($9,392).

BTC/USD daily chart. Source: TradingView

If the BTC/USD pair turns down from the moving averages, the bears will make one more attempt to sink the price below the $8,825–$8,638.79 support zone. If successful, a deeper correction is possible.

Conversely, if the bulls can drive the pair above the 50-day SMA, a rally to $10,000 is likely. The long-term downtrend line is placed just above this level, hence, the bears will try to defend it aggressively.

A breakout of the $10,000–$10,500 zone will be an important event as that could result in a sustained uptrend in the pair.

ETH/USD

After staying below the 20-day EMA ($230) for the past few days, Ether (ETH) decided to climb above it. This is a positive sign as it shows strong accumulation at lower levels.

ETH/USD daily chart. Source: TradingView

The next target is $253.556, which might act as a stiff resistance but if the bulls can drive the second-ranked cryptocurrency on CoinMarketCap above this resistance, the uptrend is likely to resume. The next target on the upside is $288.599.

However, if the bears again defend the $253.556 level, the ETH/USD pair might remain range-bound for a few more days. The 20-day EMA is gradually sloping up and the relative strength index has jumped into the positive zone, which suggests that bulls have a minor advantage in the short-term.

XRP/USD

XRP has broken out of the descending channel and the 20-day EMA ($0.18) suggesting an end of the downtrend. The 20-day EMA has flattened out and the RSI has risen above the midpoint, which shows that the bears are losing their grip.

XRP/USD daily chart. Source: TradingView

The next target to keep an eye on is the downtrend line. The 50-day SMA ($0.19) is also located at the same level. If the momentum can drive the fourth-ranked cryptocurrency on CoinMarketCap above this resistance, a rally to $0.214616 and then to $0.235688 is possible.

Conversely, if the XRP/USD pair turns down from the 50-day SMA but does not break below the 20-day EMA, it could signal the formation of a higher low. However, if the price slides below the 20-day EMA during the next drop, it will indicate that the current rise was a bull trap. 

BCH/USD

The bears attempted to break below the $217.55 support on July 5 but the bulls again bought the dip, indicating strong buying at lower levels. Today, the buyers have propelled Bitcoin Cash (BCH) above the moving averages, which is a huge positive.

BCH/USD daily chart. Source: TradingView

This is the first sign that the bulls are back in the game. If the fifth-ranked cryptocurrency on CoinMarketCap can sustain above $240, a rally to $260 is possible.

However, it is not going to be easy because the bears have not allowed the BCH/USD pair to sustain above the $240 level since mid-June. 

Therefore, they are likely to aggressively defend this resistance once again. If the pair turns down from $240, it could again drop to the 20-day EMA ($229).

BSV/USD

In a surprise move today, Bitcoin SV (BSV) has surged and broken out of the moving averages, which suggests huge buying by the bulls. 

BSV/USD daily chart. Source: TradingView

The next resistance to watch out for is $200. If the momentum can carry the sixth-ranked cryptocurrency on CoinMarketCap above this level, a rally to $227 is possible. The 20-day EMA ($168) has turned up and the RSI has risen into the positive zone, which suggests a change in the short-term trend.

A similar sharp up move had started in end-March of last year (marked via ellipse on the chart) that had carried the BSV/USD pair from $146.20 to $227. Hence, a strong rally cannot be ruled out this time.

However, if the bears defend the $200 level aggressively, the BSV/USD pair could dip back to the moving averages, which will now act as a strong support.

LTC/USD

After consolidating close to the $41 levels for the past few days, Litecoin (LTC) has broken out of the 20-day EMA ($42.60). The bears might attempt to stall the up move at the 50-day SMA ($44.05).

LTC/USD daily chart. Source: TradingView

If the bears succeed, the seventh-ranked cryptocurrency on CoinMarketCap might again dip to $41 and then to $39.

Both moving averages are flat and the RSI is just above the midpoint, which suggests a balance between supply and demand. 

Nonetheless, if the bulls can push the LTC/USD pair above the 50-day SMA, a rally to $47.50 and above it to $51 is possible.

ADA/USD

Cardano (ADA) has been consolidating close to the $0.10 resistance for the past three days, which shows that the bears are trying to stall the up move at this level. However, the positive thing is that the bulls have not given up much ground.

ADA/USD daily chart. Source: TradingView

This shows that the buyers are in no hurry to book profits as they expect the uptrend to resume. If the bulls can push the eighth-ranked cryptocurrency on CoinMarketCap above $0.11, it is likely to pick up momentum.

Such a move will complete a huge bottoming formation that has a target objective of $0.20. 

However, the zone between $0.10 and $0.11 had previously acted as a stiff resistance (shown via ellipse on the chart), hence, the bears are likely to defend it aggressively.

If the ADA/USD pair turns down from the current levels, it can drop to the 20-day EMA ($0.088), which is likely to act as a strong support. A break below this support will signal that the bulls are losing momentum. 

BNB/USD

Even though Binance Coin (BNB) had been trading below $15.72 for the past few days (shown via ellipse on the chart), the bears could not intensify the selling and take advantage of the weakness, which indicates a lack of sellers at lower levels.

BNB/USD daily chart. Source: TradingView

The relief rally has reached the 20-day EMA ($15.82), which is likely to act as a resistance but if the bulls can push the ninth-ranked crypto-asset on CoinMarketCap above this level, a move to the 50-day SMA ($16.47) is possible.

Both moving averages have flattened out and the RSI is just below the 50 level, which suggests a range-bound action for a few more days.

Contrary to the assumption, if the BNB/USD pair turns down from the 20-day EMA, it can again drop to $15 levels. 

CRO/USD

Crypto.com Coin (CRO) continues to be in a strong uptrend as both moving averages are sloping up and the RSI is close to the overbought territory. This suggests that bulls are in command.

CRO/USD daily chart. Source: TradingView

The buyers have pushed the 10th-ranked cryptocurrency on CoinMarketCap above $0.133539. This has resumed the up move with the next target being $0.15306. This level is likely to act as a stiff resistance but if the bulls can scale above it, the momentum is likely to pick up.

While the overall chart structure remains positive, the bearish divergence on the RSI is still intact. In an uptrend, these divergences are sometimes negated by a sustained up move but sometimes they result in a correction.

Therefore, to be on the safer side, traders can trail their stops to lock in their paper profits in case of a sharp pullback.

EOS/USD

The bears attempted to sink EOS below $2.3314 on July 5 but failed. This attracted huge buying by the bulls who have pushed the altcoin above both moving averages, which is a huge positive. 

EOS/USD daily chart. Source: TradingView

There is a minor resistance at $2.6209 but if this level is crossed, the 11th-ranked cryptocurrency on CoinMarketCap can rally to $2.8319. If the momentum can carry the price above this level, a retest of $3.1104 will be on the cards.

This view will be invalidated if the bulls fail to sustain the price above $2.6209. Such a move will indicate selling by the bears at higher levels and could keep the EOS/USD pair in a $2.6209–$2.3314 range for a few more days.

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