BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XTZ – BTC Ethereum Crypto Currency Blog

The completion of the most recent brief relief rally means traders need to be extra alert as several altcoins are now facing selling pressure.

As 2019 comes to an end, traders will closely analyze the events scheduled for 2020 that might boost cryptocurrency prices. One of the most talked-about and watched events would be the halving of Bitcoin miner rewards in May 2020.

While Bitcoin’s price had surged following the previous two halving events in 2012 and 2016, it is difficult to say with certainty how the crypto markets will react this time. Many analysts are also divided on their expectations about the event. However, as halving nears, we anticipate the chart patterns will provide an insight into the likely reaction to the event.

Daily cryptocurrency market performance. Source: Coin360

Central banks have been buying gold at a record pace for the past two years. This shows that the central banks are themselves moving away from the reserve currencies and are attempting to hedge the trade war and geopolitical risks with gold.

As risks increase, the institutional investors will also look at other asset classes to hedge their portfolio. As cryptocurrencies do not correlate with any asset class, we anticipate investment in cryptocurrencies to pick up next year. Even a small portion of institutional money can start a new bull run in crypto.

While a few altcoins are looking strong, can they continue their relief rally without support from Bitcoin? Let’s analyze the charts to find out.

BTC/USD

The bears foiled the attempts by the bulls to scale the 50-day SMA on Dec. 23 and again on Dec. 29. This shows selling at higher levels. With 20-day EMA flattening out and RSI close to the midpoint, a few days of range-bound action is likely.

Bitcoin (BTC) will signal a trend reversal if the bulls can scale above the overhead resistance at $7,856.76. The downtrend line is also placed just above this level, hence, we expect a breakout of $7,856.76 to start a new uptrend. Therefore, we have retained the buy recommended in an earlier analysis.

BTC USD daily chart. Source: Tradingview

Conversely, if the bulls fail to scale above $7,856.76, a few more days of range-bound action is likely. If the BTC/USD pair consolidates between $7,000 and $7,856.76, it will signal strength.

However, a break below the immediate support at $7,000 will be a bearish sign. The next support on the downside is $6,435. Repeated retests of a support level weakens it. If the bears can sink the price below $6,435, it will be a huge negative and can result in panic selling.

ETH/USD

The bulls pushed Ether (ETH) back above the overhead resistance at $131.84 and the 20-day EMA at $133 on Dec. 29. This was the first occasion that price had closed (UTC time) above the 20-day EMA since Nov. 15.

ETH USD daily chart. Source: Tradingview

However, the bulls could not build up momentum and are facing stiff resistance at the downtrend line. The bears are currently attempting to sink the price back below $131.484. If successful, a decline to $122.496 is possible.

If the bulls defend the support at $122.496, a few days of range-bound action is likely. The ETH/USD pair will pick up momentum on a break above the downtrend line. Above this level, a rally to $157.50 is possible. The 50-day SMA at $149 might offer minor resistance but we expect it to be crossed.

XRP/USD

XRP continues to trade inside the $0.18339 and $0.20041 range. The 20-day EMA is located close to the resistance of the range, hence, we anticipate the bears to defend this level aggressively.

XRP USD daily chart. Source: Tradingview

If the price turns down from the current levels, it is likely to extend its stay inside the range for a few more days. A break below the range will be a negative sign as it will resume the downtrend.

However, if the bulls manage to push the price above $0.20041 and sustain it, a rally to $0.2326 is possible. Therefore, aggressive traders can buy on a close (UTC time) above $0.20041 and keep a stop loss of $0.183.

BCH/USD

Bitcoin Cash (BCH) broke out of the 20-day EMA on Dec. 27 and closed (UTC time) above $203.36 on Dec. 28. This triggered the buy recommendation given in our previous analysis. The 20-day EMA is turning up and the RSI has climbed above 50, which suggests that the bulls are making a comeback.

BCH USD daily chart. Source: Tradingview

Currently, the bears are attempting to defend the 50-day SMA, which is sloping down. If the price turns down from the current levels and breaks below $203.36, it will signal a lack of buyers at higher levels. Therefore, traders can keep the stop loss on the long position at $181.

Conversely, if the BCH/USD pair scales above the 50-day SMA, it can move up to $227.01, which might again act as a resistance. Aggressive traders can book partial profits at this level if the bulls struggle to break above it. However, if the buyers can carry the price above $227.01, the traders can trail the stops closely.

LTC/USD

Litecoin (LTC) closed (UTC time) above $43 on Dec. 29, which triggered the buy proposed in our previous analysis. Though the price has risen above the 20-day EMA, it lacks momentum. This shows that the bulls are in no urgency to buy at higher levels.

LTC USD daily chart. Source: Tradingview

If the bulls fail to defend the support at $42.0599, the bears might again sink the price to $39.252. If this support breaks, a retest of the recent low at $35.8582 is possible.

However, if the bulls defend the support at $42.0599, we anticipate the LTC/USD pair to move up to the 50-day SMA at $46.6 and above it to $50. The traders can keep an initial stop loss at $38, which can be trailed higher later.

EOS/USD

The bulls pushed EOS above the resistance at $2.5804 on Dec. 27, which triggered our buy suggested in an earlier analysis. The altcoin has reached the 50-day SMA, which is acting as a stiff resistance. If the price turns down from the current level and slips below $2.5804, it will indicate a lack of buyers at higher levels. The traders can keep the stop loss at $2.40.

EOS USD daily chart. Source: Tradingview

However, if the bulls keep the price above $2.5804, it will indicate strength. The 20-day EMA is trying to turn up and the RSI has climbed into the positive zone, which suggests that bulls are attempting a comeback.

A break above the 50-day SMA can carry the EOS/USD pair to $2.8695, which is likely to act as a stiff resistance. The traders can watch the price action at this level closely and book partial profits if the bulls struggle to scale above it.

BNB/USD

The bulls are attempting to propel Binance Coin (BNB) above the overhead resistance at $14.5201. If successful, aggressive traders can enter long positions as suggested in our previous analysis.

BNB USD daily chart. Source: Tradingview

A breakout of $14.5201 can push the price to $16.50. The 20-day EMA has flattened out and the RSI is just below the midpoint, which suggests that the selling pressure has reduced.

However, if the bulls fail to scale above $14.5201, the BNB/USD pair might continue to trade inside the range for a few more days. It will turn negative on a break below the recent low at $12.1111.

BSV/USD

Bitcoin SV (BSV) scaled above the overhead resistance at $92.694 on Dec. 28, which triggered our buy recommended in an earlier analysis. Thereafter, momentum picked up and the altcoin broke above the downtrend line.

BSV USD daily chart. Source: Tradingview

However, the up move is facing stiff resistance at the 50-day SMA. If the bears sink the price back below $92.693, it will indicate weakness. For now, the traders can keep the stop loss at $83.

If the BSV/USD pair rebounds off $92.693 and breaks out of the 50-day SMA, a rally to $113.96 will be on the cards. The traders can book partial profits at this level and trail the stops on the rest.

XLM/USD

Stellar Lumens (XLM) continues to trade inside the $0.042133 to $0.047799 range. The 20-day EMA is placed just above the resistance of the range. Hence, we expect the bears to defend it aggressively.

XLM USD daily chart. Source: Tradingview

If the price turns down from the current levels, it will extend its stay inside the range for a few more days. The XLM/USD pair will turn negative on a break below the range.

Conversely, if the bulls can push the price above $0.047799, it will indicate strength. However, we expect the pair to again hit a wall close to $0.051014. We will wait for the price to breakout and close (UTC time) above $0.051014 before proposing a trade in it.

XTZ/USD

Tezos (XTZ) has broken down of the 50-day SMA, which is a bearish sign. There is a minor support at $1.2 below which a drop to $1.1 is possible. The moving averages are on the verge of a bearish crossover, which indicates that sellers have the upper hand.

XTZ USD daily chart. Source: Tradingview

If the XTZ/USD pair finds support at $1.2, the bulls will make another attempt to resume the uptrend. A breakout of the moving averages will be the first sign that bulls are back in the game. We will wait for a new buy setup to form before turning positive. Until then, we suggest traders remain on the sidelines.

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

BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XTZ, XLM – BTC Ethereum Crypto Currency Blog

Several short-term buying opportunities might crop up for Bitcoin and other cryptos in the next few days. What are the critical levels to watch out for?

South Korea’s central bank plans to recruit additional digital currency experts to build on its existing research into central bank digital currency (CBDC). Along with its own research, the bank also plans to discuss the developments of CBDCs with the Bank of International Settlements and other international organizations.

While the larger economies are mulling launching or researching about CBDCs, the Central Bank of the Bahamas is expected to launch its digital currency pilot in one of the districts on Dec. 27. It plans to expand the project to another district in the first-half of 2020. 

Daily cryptocurrency market performance. Source: Coin360

The central bank of Russia, along with exploring the launch of its own digital currency, has also started testing stablecoins that are pegged to real assets. However, Elvira Nabiullina, Russia’s central bank head, has said that though the bank is studying potential uses of stablecoins, it does not “assume that they will function as a means of payment and become a surrogate for money.”

These developments show that the central banks have started to recognize the advantages of cryptocurrencies but are not willing to accept it openly. However, as cryptocurrencies find greater adoption in the real world, the central banks will be forced to up their game to keep up with the competition. This is likely to prove beneficial for crypto prices. Let’s see if we spot any buying opportunities in the major cryptocurrencies.

BTC/USD

Bitcoin (BTC) has held the first support at $7,000. This is a positive sign as it shows the willingness of the bulls to buy at higher levels rather than wait for more downside. The 20-day EMA is flat and the RSI is close to the midpoint, which suggests that the selling pressure has reduced.

BTC USD daily chart. Source: Tradingview

However, unless the price quickly bounces off the current levels, the bears will resume their efforts to sink the price below $7,000. A break below $7,000 can drag the price to the recent low of $6,435.  

Conversely, if the bulls can push the BTC/USD pair above the overhead resistance at $7,856.76, it might start a new up move. Therefore, traders can buy above $7,856.76 as suggested in our earlier analysis. We anticipate the price to take a decisive direction within the next few days.

ETH/USD

The bears thwarted the attempt by the bulls to push Ether (ETH) above $131.484 on Dec. 26. This shows a lack of demand at higher levels. Both moving averages are sloping down and the RSI is in the negative zone, which suggests that bears are in the driver’s seat.

ETH USD daily chart. Source: Tradingview

The sellers will try to resume the downtrend by breaking below the recent low of $117.09. If successful, a drop to $100 is possible.

However, if the bulls defend the support at $117.09, the ETH/USD pair is likely to remain range-bound for a few days. The first sign of strength will be a break above the 20-day EMA. Until then, we suggest traders remain on the sidelines.

XRP/USD

The bulls have managed to keep XRP above the immediate support at  $0.18339 for the past few days. This is a minor positive as it shows that the selling pressure has reduced. However, unless the bulls quickly carry the price above 0.20041, the bears might resume their selling and sink the price to the recent low of $0.17468.

XRP USD daily chart. Source: Tradingview

A break below the recent low of $0.17468 will be a huge negative as it can extend the downtrend to $0.15.

Conversely, if the XRP/USD pair rebounds off the current levels or from $0.17468, it might remain range-bound for a few days. We would wait for the pair to breakout and close (UTC time) above $0.20041 before proposing a trade in it.

BCH/USD

Bitcoin Cash (BCH) has turned around from just below the support at $183.40 on Dec. 25, which is a positive sign. The bulls are now attempting to propel the price above the resistance line of the descending channel. If successful, a move to $227.01 is possible. 

BCH USD daily chart. Source: Tradingview

The short-term traders can ride this move higher by buying on a close (UTC time) above $203.36. The stop-loss for the trade can be kept at $181, which can be trailed higher as the price moves up.

However, if the BCH/USD pair fails to break out of the channel, it might again dip back to $183 levels. 

LTC/USD

Litecoin (LTC) has been consolidating between $39.252 and $42.0599 for the past few days. Both moving averages are sloping down and the RSI is in the negative territory. This indicates that bears are in command.

LTC USD daily chart. Source: Tradingview

If the LTC/USD pair drops below $39.252, it can slide to $35.8582. Alternatively, if the bulls can push the price above the overhead resistance at $42.0599, it will signal strength. 

The short-term traders can wait for a breakout and close (UTC time) above $43 before initiating a long position. The target objective is a move to $50 and the stop-loss can be kept at $38.

EOS/USD

The bulls failed to sustain the move above $2.5804 on Dec. 26. Hence, our buy recommended in an earlier analysis did not trigger. However, the bulls are again attempting to push EOS above the resistance at $2.5804.

EOS USD daily chart. Source: Tradingview

If successful, a move to $2.8695 is possible. Therefore, we retain the buy recommendation given in an earlier analysis.

However, if the bulls again fail to sustain the price above $2.5804, it will indicate a lack of buyers at higher levels. The bears will then attempt to sink the price below $2.4001. If successful, the EOS/USD pair can plummet to the recent low of  $2.1624.

BNB/USD

Binance Coin (BNB) continues to trade in the upper-half of $12.1111 to $14 range. Though this is a minor positive, the bulls have failed to propel the price above the overhead resistance. This indicates that buying dries up at higher levels.

BNB USD daily chart. Source: Tradingview

The longer the BNB/USD pair stays inside the range, the stronger will be the eventual breakout or breakdown from it. If the bears sink the price below $12.1111, a drop to $10 is possible.

Alternatively, if the bulls propel the price above $14 to $14.50 resistance zone, a rally to $16.50 is likely. Therefore, traders can buy if the price sustains above $14.50 for four hours. The stop-loss can be kept below the most recent low. 

BSV/USD

Bitcoin SV (BSV) is stuck inside $78.506 to $92.693 range. Though both moving averages are sloping down and the RSI is in the negative territory, the price has been trading close to the top of the range, which is a positive sign.

BSV USD daily chart. Source: Tradingview

A breakout above $92.693 is likely to attract buying that can push the price to $113.96. Therefore, short-term traders can initiate long positions as recommended in our earlier analysis. 

Contrary to our assumption, if the bulls fail to push the price above the range, the bears will try to sink the BSV/USD pair below $78.506. If successful, a drop to $66.666 is possible.

XTZ/USD

The tight range in Tezos (XTZ) has resolved to the downside. The price is currently at the 50-day SMA, below which a drop to $1.10 is possible. If this support also cracks, the sentiment will turn negative. 

XTZ USD daily chart. Source: Tradingview

On the other hand, if the bulls defend the support at the 50-day EMA, the XTZ/USD pair will again attempt to resume the up move. With the 20-day EMA starting to turn down and the RSI dipping into the negative territory, the advantage is with the bears. We suggest traders remain on the sidelines until further clarity emerges.

XLM/USD

Stellar Lumens (XLM) has again risen into the top ten cryptocurrencies by market capitalization. The price is currently stuck between $0.042133 and $0.047799. Both moving averages are sloping down and the RSI is in the negative zone, which indicates that bears have the upper hand.

XLM USD daily chart. Source: Tradingview

If the bears sink the price below $0.042133, the downtrend will resume. The next support on the downside is $0.036769.

Conversely, if the bulls can push the price above $0.047799, the XLM/USD pair can move up to $0.051014. We will wait for the price to sustain above $0.051014 before turning positive.

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

BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XTZ, TRX – BTC Ethereum Crypto Currency Blog

Bitcoin (BTC) and most major cryptocurrencies have entered a consolidation period and a decisive breakout or breakdown from it is now to be expected.

As the year comes to an end, the focus will shift to the major events that are expected to influence crypto prices next year. China’s launch of a digital yuan is one such event that can influence crypto prices. The People’s Bank of China’s deputy director Mu Changchun said that the digital form of yuan would not have any room to speculate on its value as it would be different from Bitcoin and stablecoins.

Though China has been against cryptocurrencies, it has been making major strides in supporting blockchain technology. The Central Bank of China has used blockchain technology to issue 20 billion Chinese yuan ($2.8 billion) of special bonds. These bonds will fund a small portion of the bank’s loan portfolio issued to small businesses.

Daily cryptocurrency market performance. Source: Coin360

The Shenzhen Stock Exchange has launched an index that will track the performance of stocks of 50 companies involved with the blockchain industry. Lu Lei, deputy head of the State Administration of Foreign Exchange said that the government “will push forward a prospective study on foreign exchange reforms to deal with cryptocurrency and explore the construction of the foreign exchange regulation and technology system under the new situation.”

While China is getting heavily involved with blockchain technology, Japanese companies are attempting to boost crypto adoption. Japanese retail giant Rakuten will allow its customers to convert their Rakuten Group loyalty points to three different cryptocurrencies, Bitcoin, Ether and Bitcoin Cash.

With the fundamentals likely to improve next year, should the investors buy at current levels or do the technicals project a deeper correction? Let’s find out.

BTC/USD

Bitcoin (BTC) turned down from the overhead resistance at $7,856.76 on Dec. 23. This shows that bears are aggressively defending the resistance levels. The immediate support on the downside is $7,000. If this level cracks, a drop to $6,435 is possible. We expect the bulls to defend this support but if it gives way, the sentiment will turn extremely negative.

BTC USD daily chart. Source: Tradingview

The 20-day EMA is flat and the RSI is just below 50, which points to a range-bound action for the next few days. If the BTC/USD pair bounces off $7,000, it will be a positive sign as it will indicate that bulls are not waiting for a deeper correction to buy. If the pair consolidates between $7,000 and $7,856.76, it will increase the probability of a breakout out of this tight range.

We anticipate a change in trend after the bulls breakout and close (UTC time) the price above $7,856.76. Therefore, we retain the buy proposed in our previous analysis.

ETH/USD

Ether (ETH) turned down from the 20-day EMA and broke below the immediate support at $125. Both moving averages are sloping down and the RSI is close to oversold territory, which suggests that bears are in command.

ETH USD daily chart. Source: Tradingview

The next stop is likely to be $117.09. If this level also cracks, the downtrend will resume. The next target to watch on the downside is $100.

Conversely, if the bulls defend the support at $117.09, a few days of range-bound action is likely. We will wait for the ETH/USD pair to break out of the 20-day EMA before turning positive.

XRP/USD

The failure of the bulls to push XRP above $0.20041 has attracted profit booking. The bears will now attempt to sink the price to the recent low of $0.17468. A breakdown of this support will be a huge negative as it will resume the downtrend.

XRP USD daily chart. Source: Tradingview

With both moving averages sloping down and RSI in the negative territory, the advantage is with the bears.

Nonetheless, if the bulls defend the support at $0.17468, the XRP/USD pair might remain range-bound for a few days. The first sign of strength will be a breakout and close (UTC time) above the overhead resistance at $0.20041. Until then, we suggest traders remain on the sidelines.

BCH/USD

Bitcoin Cash (BCH) turned down from the 20-day EMA on Dec. 23. The bears are attempting to sink the price below the immediate support at $183.40. If successful, a retest of $169.62 is possible. Both moving averages are sloping down and the RSI is in the negative zone, which indicates that bears have the upper hand. 

BCH USD daily chart. Source: Tradingview

However, if the bulls defend the support at $183.40, the BCH/USD pair will make another attempt to break out of the channel and the overhead resistance at $203.36. Above this level, a move to $227.01 is possible. We will turn positive above $203.36. Until then, we suggest traders remain on the sidelines.

LTC/USD

Litecoin (LTC) turned down from the resistance line of the descending channel on Dec. 23. There is a minor support at $39.252. If this support holds, the bulls will make another attempt to scale above the channel and the overhead resistance at $42.0599.

If successful, a rally to $50 is possible. Hence, we retain the buy recommendation given in the previous analysis. 

LTC USD daily chart. Source: Tradingview

Conversely, if bears sink the LTC/USD pair below $39.252, a retest of the recent low at $35.8582 is possible. If this support also cracks, a drop to the support line of the channel at $33 is likely. A break below the channel will be a huge negative.

EOS/USD

EOS failed to rise and close (UTC time) above $2.5804 for the past two days. However, we like that the price has not given up much ground, which is a positive sign. The bulls are likely to attempt a breakout of $2.5804 within the next few days.

EOS USD daily chart. Source: Tradingview

If the bulls can sustain the price above $2.5804, a rally to $2.8695 is likely. The 50-day SMA is placed just below $2.8695, hence, we anticipate the bears to defend this level aggressively. The short-term traders can participate in this move by initiating long positions as suggested in our previous analysis.

Contrary to our assumption, if the bears sink the price below $2.4001, a retest of $2.1624 will be on the cards.

BNB/USD

The bulls could not extend the relief rally above the $13.88 to $14.2555 overhead resistance zone. This is a negative sign as it shows that the bulls are in no hurry to accumulate Binance Coin (BNB) at higher levels.

BNB USD daily chart. Source: Tradingview

If the bulls can keep the price above $12.9624 it will indicate strength and increase the possibility of a break above $14.2555. Above this level, a rally to $16.50 is likely. The short-term traders can ride this up move as recommended in our previous analysis.

However, if the BNB/USD pair slips and sustains below $12.9624, a retest of the recent low at $12.1111 is possible. A breakdown of this support will be a huge negative.

BSV/USD

Though Bitcoin SV (BSV) scaled above the downtrend line, the bulls could not build on the strength and push the price above the overhead resistance at $92.693. This shows that buying dries up at higher levels.

BSV USD daily chart. Source: Tradingview

The price might now consolidate between $78.506 and $92.693 for a few more days. A break below this range can sink the BSV/USD pair to $66.666.

Conversely, if the bulls can propel the price above $92.693, a move to $113.96 is possible. Therefore, we retain the buy suggested in our previous analysis.

XTZ/USD

The intraday range has been shrinking for the past few days. Usually, such tightening of the range is followed by range expansion. If Tezos (XTZ) moves up sharply, supported by higher volume, a rally to $1.65 is possible. Such a move will indicate a resumption of buying by the bulls.

XTZ USD daily chart. Source: Tradingview

Conversely, if the range expands to the downside and breaks below the 50-day SMA, a retest of $1.18 will be on the cards. A break below this level can drag the price to $1.10 and below it to $0.829651.

The 20-day EMA has flattened out and the RSI is close to the center, which points to a range formation in the near term. Though we are positive on the XTZ/USD pair, we will wait for the bulls to assert their supremacy before proposing a trade in it.

TRX/USD

TRON (TRX) has again slipped back below the 20-day EMA, which is a negative sign. It shows that bears are active at higher levels. They will now attempt to sink the price to the recent low of $0.0120843, below which a retest of the critical level at $0.01124 is possible. If the bears sink the price below $0.01124, it will be a huge negative.

TRX USD daily chart. Source: Tradingview

However, if the TRX/USD pair turns around from the current level, the bulls will again attempt to push the price above the descending channel pattern. If successful, the up move might again hit a barrier at the 50-day SMA and above it at $0.0163957.

A breakout of $0.0163957 will indicate a probable change in trend that can carry the price to $0.020 and above $0.02340. We will turn positive on a breakout above $0.0163957.

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

10 Best Performing Cryptos of 2019 Not Named Bitcoin – BTC Ethereum Crypto Currency Blog

Here’s a list of the best performing crypto assets — excluding Bitcoin — for 2019.

Since the start of 2019, the crypto market has been on the receiving end of an insane amount of financial volatility. 

For example, in January, the total market capitalization of this burgeoning sector was around $130 billion. However, by July, the market at large had witnessed an influx of bullish momentum that pushed the total capitalization value of this space to a whopping $373 billion. Following this period, the aforementioned bull run proceeded to subside quite a bit, with the market now hovering a tad under the $200 billion threshold. 

A few cryptocurrencies maintained a strong financial standing all year long and were able to stave off the various economic slumps that were observed throughout 2019. Here are the standout cryptos not named Bitcoin. 

ChainLink 

While a fair few people may be surprised to see ChainLink (LINK) in the list of the best-performing cryptocurrencies of 2019. The platform essentially seeks to bridge the gap that exists between blockchain-based smart contracts and real-world applications.

From an economic standpoint, LINK started the year relatively slow — with the price of a single token rising from $0.31 to just over $0.45 over a five-month period. However, by the first week of July, the currency reached its financial apex, with a single LINK token being traded for as high as $3.74. And while the currency has lost a bit of its insane financial momentum over the last couple of months, LINK is still trading slightly above the $1.90 mark. 

All in all, the LINK/USD trading pair has surged by over 500% since the start of the year, and the LINK/BTC pair has also gained more than 300% over the same time period — which is quite an impressive feat, to say the least. 

Binance Coin 

Released onto the market back in mid-2017, Binance Coin (BNB) is a token that can be used for trading purposes as well as for the facilitation of various fee-related payments within the Binance exchange platform. Not only that, but Binance also provides BNB holders with various incentives and discounts for making use of the digital currency for internal transactions.

In regard to BNB’s performance, the currency started the year at a price point of around $6. However, by the final week of May, the price of a single BNB token rose to $35.20 — thereby signaling a growth of more than 450%. During the third quarter of 2019, BNB’s value slid from $33.10 to $15.79, thus showcasing a drastic reversal in the currency’s fortunes. However, over the last couple of months, BNB’s value has remained relatively stable, with the asset’s average value in December currently floating just below the $14 mark.

Since the start of the year, the overall value of the BNB/USD pair has increased by over 140%.

Tezos 

Tezos (XTZ) is a decentralized computing platform that makes use of a formal verification protocol as well as a proof-of-stake consensus module for its internal governance-related matters. In regard to how the system works, XTZ holders who stake their tokens are eligible to receive additional tokens as an incentive for creating and verifying blocks.

From a financial performance standpoint, XTZ started off the year at a price point of $0.47. However, by the end of the first quarter of 2019, the value of a single token had scaled up to an impressive $1.06. XTZ’s performance continued to surge between April and June, with the currency touching its annual high of $1.88 on May 19. During this year’s third quarter, XTZ’s value continued to hover around the $1–$1.20 region. However, since the start of December, the crypto asset has once again picked up momentum, with a single token currently trading for $1.51.

Over the course of 2019, the value of the XTZ/USD trading pair has increased by over 190%.

Synthetix Network Token

The Synthetix Network Token (SNX) is an ERC-20 token that is meant to facilitate all of the native transactions associated with the Synthetix exchange. Additionally, SNX tokens are traded using a peer-to-contract model and are also used as collateral to back SNX synthetic assets, called Synths, that are employed within the Synthetix Network to track the market value of any basic asset.

Between January and April, the price of a single SNX token touched a maximum of $0.07. However, since May, the digital currency has continued to soar in value — with the only major slip coming on Nov. 26, a time when the crypto market at large experienced a major financial pullback.

Overall, since the start of 2019, SNX’s value has increased by over 200%, with the currency currently trading for $1.33.

Bitcoin Cash 

Currently one of the market’s top 10 cryptocurrencies, Bitcoin Cash (BCH) is basically a hard fork of Bitcoin.

From a financial perspective, one BCH was trading for $135 during the second week of January. However, by the beginning of April, the currency had soared to over the $300 threshold. The currency reached its annual monetary apex on June 26, when the asset was trading for $479.96. During the third quarter of 2019, BCH’s value remained relatively stable — hovering around the $300 mark — but since the start of November, the currency has been continually slipping in value, with a single coin currently trading just over $195.

All in all, over the course of the last 12 months, the value of the BCH/USD trading pair has risen by over 30%.

Cosmos 

Cosmos (ATOM) is a decentralized network comprising of various blockchains that are independent, scalable and interoperable. The platform has gained a lot of attention over the course of 2019, especially since cryptocurrency associated with the network, ATOM, surged dramatically during the month of May. To put things into perspective, it bears mentioning that on Jan. 1, ATOM was trading for a price of $0.001. 

As things stand, the currency is selling well over $4.20.

Litecoin

Litecoin (LTC) is a top 10 cryptocurrency that was created by Charlie Lee to serve as a more resource-friendly version of Bitcoin. 

LTC was trading for $32 during the first week of January. But by June 22, the altcoin had risen to an impressive price point of $141.73. Since then, LTC’s performance has continued to decline, with the currency trading for an average price of around $43 throughout December.

All in all, the value of the LTC/USD trading pair has increased by around 40% since the start of the year.

Basic Attention Token

Basic Attention Token (BAT) is a digital currency used in the Brave internet browser. Brave is a blockchain-based internet browser that incentivizes its users’ internet habits by rewarding them with BAT tokens for watching ads, spending a certain amount of time on a particular website, etc. From a technical standpoint, the browser’s native framework is quite similar to that of Chromium — a project that was created by Brendan Eich, the man behind JavaScript and the co-founder of the Mozilla project. 

BAT started off the year trading at around $0.13. However, by the second half of April, the currency had already scaled up to its annual high of $0.44. Following this period, the top 50 asset continued to slide in value until September, after which it once again began a financial ascent, reaching a relative high of $0.27 on Nov 17. Since the start of December, BAT’s value has remained relatively stable around the $1.70 region. 

Over the course of 2019, BAT’s value has increased by around 35%.

Ether

Ether (ETH) is a top 10 crypto asset that is widely recognized as being the second most popular digital asset (i.e., after Bitcoin) on the market today. Ethereum developers envisioned the platform as a “world computer” for smart contracts — a digital protocol that helps facilitate, verify and enforce a contract whose terms have been predetermined. Not only that, but the Ethereum ecosystem also allows for the issuance of ERC-20 tokens.

On Jan. 13, Ether was trading for $116. However, over the course of the following six months, the value of the second-biggest cryptocurrency continued to increase, finally scaling up to its annual high of $334.66 on June 26. Following this period of bullish momentum, Ether once again continued to slide before finally settling down around a price range of $150–$180, except for a brief period in September when the currency surged above the $210 mark. 

Since late November, Ether has been trading steadily between $130 and $150, thereby showcasing an overall value increase of around 20% since the start of the year.

EOS 

EOS is a cryptocurrency platform that can be used by developers to devise a number of novel decentralized applications. In this regard, the EOS token is used to facilitate the eponymous system’s native transactions as well as its internal processes. Additionally, the EOS blockchain has been designed to be highly scalable and leaves a lot of room for customization — which is one of the main reasons why the project is so popular in the first place.

In terms of EOS’s financial performance, the digital currency was trading for $2.23 during the second week of January. Between the months of February and May, the asset surged quite dramatically, with the value of a single token reaching a price point of $8.54 on May 31. Over roughly the next five months, the currency’s value continued to float between $3–$3.80. However, since the last week of November, EOS has remained quite stable, currently trading around the $2.55 mark. 

Presently, the EOS/USD trading pair has gained around a 10% value since the start of the year.

Original Article
Author: btcethereumadmin

BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XTZ, TRX – BTC Ethereum Crypto Currency Blog

Bitcoin strong move to $7,600 signals that trend change could be in the making and has also created buying opportunities for select altcoins.

Bitcoin is leading the recovery from the front, which is a positive sign. This shows that bulls have used the recent dip to buy. As a result, Bitcoin’s dominance has increased to 68.9%. Former Wall Street trader Tone Vays believes that Bitcoin will increase its dominance further in 2020, perhaps as high as 85%.

Although institutional money will enter Bitcoin first, it is unlikely that other altcoins will wither away. After investing in Bitcoin, large investors are likely to diversify into select altcoins. The next bull run is likely to be led by Bitcoin and a handful of altcoins. Hence, traders should keep a watch on the leaders and invest in them rather than buying the laggards in hopes of a dramatic recovery.

Daily cryptocurrency market performance. Source: Coin360

Most investors who bought the Initial exchange offerings (IEOs) in 2019 have been on the losing end those who purchased these IEOs after their listing on the exchanges fared much worse. 

According to a report by BitMEX Research, almost all of the major IEOs launched in 2019 are down over 80% compared to their price upon listing. This shows that traders should be prudent with their investments and should not be driven by greed.

With the recent recovery in prices, we have identified several trades for the short-term. Traders do not need to take all these trades, rather, they can pick and choose the one they are most confident with. 

Short-term trades should be monitored regularly and the stop loss should be trailed to protect the paper profits. Let’s see which major cryptocurrencies offer a buying opportunity?

BTC/USD

The bulls pushed Bitcoin (BTC) above the 20-day EMA at $7,294 on Dec. 22. This was Bitcoin’s first closing (UTC time) above the 20-day EMA since Nov. 10. With the recent rise, the 20-day EMA has flattened out and the RSI has risen into the positive territory, which suggests that bulls are back in the game. 

BTC USD daily chart. Source: Tradingview

If the bulls can push the price above $7,856.76, the BTC/USD pair will complete a double bottom pattern. This pattern has a minimum target objective of $9,201.51 and above it $10,360.89. 

Therefore, traders can buy on a close (UTC time) above $7,856.76 and keep an initial stop loss of $7,000. Though there is stiff resistance at the downtrend line, we anticipate it to be crossed.

Our bullish view will be invalidated if the pair turns down from $7,856.76. In such a case, a few days of range-bound action is likely. The trend will turn negative on a close (UTC time) below the recent low of $6,435.

ETH/USD

The bulls are struggling to sustain the price above $131.484. Both moving averages are sloping down and the RSI is in the negative zone, which shows that bears are in command. 

The bears will now attempt to sink Ether (ETH) below the immediate support at $125. If successful, a drop to the recent low at $117.09 is likely. A break below this level will resume the downtrend. The next support on the downside is $100. 

ETH USD daily chart. Source: Tradingview

However, if the bulls support the price at $131.484, we anticipate another attempt to scale above the 20-day EMA at $143. If successful, a rally to the 50-day SMA at $157.50 is possible.

The short-term traders can stay on the long side if the ETH/USD pair closes (UTC time) above the 20-day EMA at $143. However, we suggest positional traders wait for a new buy setup to form before initiating long positions.

XRP/USD

The intraday range in XRP has been shrinking for the past few days, which shows a build-up of energy. As the price has been trading close to the overhead resistance at $0.20041, we anticipate the bulls to push the price above it.

XRP USD daily chart. Source: Tradingview

Though the 20-day EMA is placed just above $0.20041 resistance, we expect the bulls to push the price above it. On a close (UTC time) above $0.20041, a rally to $0.2326 is possible. The short-term traders can buy on a close (UTC time) above $0.20041 with a stop loss of $0.1740.

Contrary to our assumption, if the bulls fail to propel the price above $0.20041, the XRP/USD pair might retest the recent low at $0.17468.

BCH/USD

Bitcoin Cash (BCH) is currently trading inside a descending channel. We anticipate the bears to mount a stiff resistance at the resistance line of the descending channel, which is just above the 20-day EMA at $201.  

BCH USD daily chart. Source: Tradingview

If the price turns down from the resistance line of the channel, it can again dip to $183.40 and below it to $169.62.

However, during the next fall, if the bulls keep the price above $192.52, it will be a positive sign and a breakout of the channel is likely. A breakout of the channel can carry the price to $227.01. The short-term traders can buy if the price sustains above $204 for four hours with a stop loss of $183.

LTC/USD

Litecoin (LTC) has pulled back to the 20-day EMA at $43, which is just above the resistance line of the descending channel. We anticipate the bears to defend this resistance aggressively. If the price turns down from the current levels, it can correct to $39.2520. A break below this level can drag the price to the recent low of $35.8582.

LTC USD daily chart. Source: Tradingview

However, if the bulls push the LTC/USD pair above the 20-day EMA, it will be a positive sign. The next level to watch on the upside is $50. The short-term traders can buy on a close (UTC time) above the 20-day EMA and keep a close stop loss of $39.

EOS/USD

EOS has been trading between $2.4001 and $2.5804 for the past four days. This is a positive sign as it shows consolidation close to the overhead resistance. If the bulls can sustain the price above $2.5804, a rally to $2.8695 is likely. The short-term traders can buy on a close (UTC time) above $2.5804 with a stop below $2.4001.

EOS USD daily chart. Source: Tradingview

Contrary to our assumption, if the price turns down from the current levels, it will extend its stay inside the range for a few more days. If the bears sink the price below $2.4001, a drop to the low at $2.1624 is possible.

BNB/USD

The relief rally in Binance Coin (BNB) has reached the overhead resistance zone of $13.88 to $14.2555. The 20-day EMA at $14.35 is placed just above this zone. We anticipate the bears to defend this zone aggressively.

BNB USD daily chart. Source: Tradingview

If the price turns down from this zone, the BNB/USD pair can dip to $12.9624 and if this level also cracks, a retest of the recent low at $12.1111 is possible.

However, if the bulls can sustain the price above 20-day EMA, a rally to $16.50 is possible. The short-term traders can buy on a close (UTC time) above $14.40 with a stop below $12.90. 

BSV/USD

Bitcoin SV (BSV) has broken out of the downtrend line. The bulls will now try to push the price above the overhead resistance at $92.693. If successful, a move to the 50-day SMA at $106.9 and above it to $113.96 is possible. The traders can buy on a close (UTC time) above $92.693 with a stop below $83. 

BSV USD daily chart. Source: Tradingview

However, if the price turns down from $92.693, the BSV/USD pair might retest $78.506. If this support holds, the pair might consolidate between $78.506 and $92.693 for a few more days. The downtrend will resume on a break below the recent low at $77.203.

XTZ/USD

Though the intraday price action in Tezos (XTZ) has been volatile, its daily closing (UTC time) has been just above or below the 20-day EMA for the past five days. This shows indecision among the buyers and sellers. 

XTZ USD daily chart. Source: Tradingview

The 20-day EMA has flattened out and the RSI is close to the midpoint, which suggests a range-bound action in the near-term. The level to watch on the downside is $1.18 and on the upside is $1.65. Though positive, we would wait for the XTZ/USD pair to sustain above the 20-day EMA before suggesting a trade in it.

TRX/USD

TRON (TRX) has once again claimed its spot among the top ten cryptocurrencies by market capitalization, hence, it has been included in our analysis. During the recent fall, the altcoin did not break below its critical support at $0.01124, which shows that the bulls are accumulating on dips.

TRX USD daily chart. Source: Tradingview

The relief rally from the recent low has risen above the 20-day EMA, which is a positive sign. However, we anticipate the bulls to hit a roadblock close to $0.0163957. If the price turns down from this level, a few days of range-bound action is likely.

Contrary to our assumption, if the bulls can push the price above $0.0163957, a rally to $0.0234 is possible. We will wait for the TRX/USD pair to rise above $0.0163957 before suggesting a long position in it.

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

Where to Buy With Crypto This Festive Season – BTC Ethereum Crypto Currency Blog

Here are a few websites that can help you finish your Christmas shopping using crypto.

Christmas is just around the corner, which means it’s time to get your holiday shopping out of the way for good. And while online retail giants such as Amazon and eBay have made online purchasing wonderfully simple for the average person, they do not really cater to a growing population of individuals who are looking to use their crypto for digital payment purposes.

While a number of startups have entered this space over the last three to four years due to issues relating to market volatility, certain remaining setbacks need to be tackled before the sector can really flourish.

But setting the issues aside, here is a list of online retailers that accept not just Bitcoin (BTC), but a whole host of other popular crypto assets.

Overstock.com

Overstock.com is widely considered to be one of the best shopping destinations for Bitcoin holders. For Christmas shoppers especially, this website is an absolute treasure trove, as it allows users to purchase items ranging from television sets to furniture to golfing equipment using crypto. Not only that, even the checkout process is seamless, since all one has to do is click on the “Pay with Bitcoin” button and follow the instructions.

And while Overstock does not allow BTC payments on its mobile site, it does enable customers to use their Bitcoin in conjunction with any other valid gift cards, coupons, and credit points that they may own. Additionally, in the event of a refund, Overstock issues the exact amount of crypto per its price at the time of the transaction.

Alagoria

When it comes to making purchases from retail giants like Walmart, Home Depot and Amazon, most crypto enthusiasts have to first liquidate their coins and then process their payments in fiat. However, this holiday season, Alagoria is allowing its customers to get a 10% discount on all purchases made via HomeDepot and Walmart using cryptocurrencies.

To shop on Alagoria, customers simply need to copy and paste the URL of a product they want to buy into the search bar on the platform. They can then proceed to checkout and pay for the item using the crypto of their choice — with the conversion rate set before the payment takes place.

Once this process is done, Alagoria notifies customers of their completed orders and provides a tracking number. Most items are usually delivered within a period of three to four business days.

Lastly, the company allows customers to use discounted gift cards from Walmart and Home Depot to fulfill order payments, and even have an open buy-back offer on most gift cards from the aforementioned retailers at the moment.

eGifter

People looking to present their loved ones with premium gift cards can use eGifter, a platform that enables customers to buy a wide range of gift cards from big-name brands like Amazon, Apple, Macy’s, Adidas and GameStop. Items can be purchased using digital currencies (like BTC, BCH, Dash, LTC and ETH) and can be obtained in either physical or digital form.

Also, quite like many other retail firms today, eGifter makes use of an internal point system, wherein regular customers can collect eGifter credit every time they buy a gift card. These points can then be used during future checkouts in lieu of instant discounts and other monetary benefits.

Bitcoin Superstore

Florida-based Bitcoin Superstore is the perfect shopping avenue for people looking to make purchases from Amazon.com using their crypto savings. Even though the platform has its headquarters in the United States, it extends its shipping services to more than 50 countries across the globe.

Not only that, for couples and solo travelers looking to explore the world at this time of year, the platform enables flights and hotels to be booked through mainstream platforms such as Expedia or Priceline.

Navigating and operating Bitcoin Superstore is quite simple, as customers only have to copy and paste a product URL in the provided search column and add the price so the platform can automatically calculate the applicable sales tax and present the user with the final amount to be paid.

Bitcoin Superstore currently supports a large number of cryptocurrencies, including many popular ones. Not only that, but the website also sells a wide range of gift cards and discount coupons for merchants from industries such as electronics, travel and hospitality. 

CheapAir

People looking to make a quick holiday getaway this Christmas can explore CheapAir.com, since it currently has a number of discount deals on flight tickets to destinations around the globe.

However, what makes this platform really stand out from the rest is the fact that it allows users to complete their purchases via Bitcoin. The entire process is quite straightforward and based on the digital currency’s USD value at the time of booking.

Newegg

For tech enthusiasts looking to buy the latest electronics this Christmas season, Newegg is the place to be. The website offers users with a wide range of gadgets ranging from high-end gaming laptops, desktop computers, hardware components and audio/video peripherals. Additionally, the platform also offers customers quality products from big-name brands like Microsoft, GigaByte, Corsair, AMD, Msi and Seagate amongst others.

Regarding how the payment process works, customers can proceed to initiate a BTC payment after deciding on a product by simply scanning the provided QR code and sending the amount due in crypto to the given address. After the funds have been moved, the Newegg team sends an email confirmation containing all of the purchase and delivery details.

Olodolo

Christmas shoppers looking to buy clothing, jewelry, cosmetics and fashion accessories can consider Olodolo — a platform that specializes in helping people buy items on Aliexpress using cryptocurrencies.

The checkout process is similar to that of other retailers, and delivery is available to a large number of countries worldwide. All payments are processed by a POS operator called Coinpayments, and the final price (including shipping and other associated taxes) is displayed at the end along with the three cryptocurrencies supported — Bitcoin, Litecoin and Ethereum — that a customer can choose from to complete the process with.

Forra

Forra can be thought of as the Ebay equivalent of Olodolo, as it allows customers to purchase a wide range of Ebay listings using crypto assets such as BCH, BTC, LTC and ETH. In order to ensure the security of its internal monetary transactions, Forra makes use of an escrow system and charges users a flat 3% fee on each individual purchase.

For Christmas shoppers looking to buy electronic items (computers and laptops in particular), software, books and game titles, Forra is definitely a website worth checking out.

Original Article
Author: btcethereumadmin

BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XTZ, XLM – BTC Ethereum Crypto Currency Blog

Bitcoin and a few altcoins appear to be strengthening and flashing some strong buying opportunities.

Though most major cryptocurrencies have broken below their support levels during the most recent fall, Bitcoin, which is inarguably the leader, has held its ground. This is a positive sign as it shows that the stronger hands are not panicking. This week top venture capitalist Tim Draper also reiterated his bullish view on Bitcoin. 

Draper is confident that the leading currency will hit $250,000 by 2022. Additionally, he believes that if Bitcoin’s price action prior to  and after the May 2020 halving resembles the trajectory followed during previous halvings, his target might be achieved by the end of the next year itself.

Daily cryptocurrency market performance. Source: Coin360

Patience is the key to long-term success in investing. While it is important to invest when the trend is up, it takes patience to hold on to the investment during corrections. The early investors who held on to their investments pocketed astronomical returns in the first decade of Bitcoin’s existence. As the asset class matures, the returns in the next decade might slow down but cryptocurrencies are still projected to outperform all other asset classes by a wide margin. 

Even in a falling market, there are intermittent relief rallies driven by aggressive bulls who purchase in anticipation of a bottom. While short-term traders can profit from these quick trades, investors should wait for a turnaround to be signaled before jumping in. Let’s see if we spot a bottom in any of the major cryptocurrencies.

BTC/USD

Bitcoin (BTC) bounced sharply from the critical support at $6,512.01 on Dec. 18. This is a positive sign as it shows that the bulls purchased the dip to the support level aggressively. However, the failure of the buyers to sustain the price above the 20-day EMA indicates a lack of demand at higher levels.

BTC USD daily chart. Source: Tradingview

If the bulls fail to scale above the 20-day EMA within the next couple of days, a retest of  $6,512.01 is likely. A breakdown of this support will be a huge negative that can drag the price to $5,533.90. Along with the price damage, such a move will dent sentiment and delay the start of the next up move. 

Conversely, if the bulls can defend the psychological support at $7,000, it will increase the possibility of a move to $7,856.76. This is an important level to watch out for on the upside because a break above it will complete a double bottom pattern. We will recommend a buy on a close (UTC time) above $7,856.76. Until then, we remain neutral on the BTC/USD pair.

ETH/USD

The relief rally in Ether (ETH) hit a wall just above the breakdown level of $131.484. The bears will now attempt to resume the downtrend. If the price slips below the recent low of $117.09, a drop to $100 is possible.

ETH USD daily chart. Source: Tradingview

Conversely, if the bulls can sustain the price above $131.484, a rally to the 20-day EMA at about $141 is possible. We expect the bears to defend the 20-day EMA aggressively.

If the price turns down from the 20-day EMA but stays above $117.09, the ETH/USD pair will remain range-bound for a few days. We will wait for the pair to form a new buy setup before suggesting a trade in it.

XRP/USD

The pullback in XRP from the low of $0.17468 on Dec. 18 was sharp but it hit a wall at the first overhead resistance at $0.20041. This shows a lack of buying at higher levels as the traders are not confident that the downtrend has ended.

XRP USD daily chart. Source: Tradingview

The bulls are currently attempting to hold the price above $0.18 levels. If the XRP/USD pair breaks above $0.20041, a rally to $0.22 is possible. 

Conversely, if the bulls fail to push the price above $0.20041 once again, the bears will try to sink the price below $0.17468. If successful, a drop to the next support at $0.15 is possible. As the pair has been among the weakest major cryptocurrencies, we will wait for a reversal pattern to form before proposing a trade in it.

BCH/USD

Though Bitcoin Cash (BCH) is facing resistance at $192.52, it has held its ground. This shows that buyers are not waiting for a deeper fall to enter, which is a positive sign. If the bulls can push the price above $192.52, a move to $203.36 is possible. 

BCH USD daily chart. Source: Tradingview

If the price can sustain above $192.52, it will signal that the BCH/USD pair might have bottomed out at $169.62. Such a move can offer a buying opportunity.

However, if the pair turns down from the 20-day EMA at $204 and breaks below $192.52, the bears will try to extend the downtrend. The next support on the downside is at $125. We will wait for the pair to sustain above $192.52 before proposing a trade in it.

LTC/USD

Litecoin (LTC) is facing resistance at $42.0599. Above this level, the bulls are likely to again hit a roadblock at the downtrend line. If both these levels are scaled, a rise to $50 will be on the cards. 

LTC USD daily chart. Source: Tradingview

Nonetheless, if the LTC/USD pair turns down from the overhead resistance at $42.0599 or from the downtrend line, the bears will try to sink the price below the recent low of $35.8582. If successful, a drop to $28 to $30 support zone is possible. We will wait for a bottom to be confirmed before suggesting a trade in it.

EOS/USD

EOS climbed back above $2.4001 on Dec. 18 and has sustained the level for the past two days. This is a positive sign as it indicates strong buying at lower levels. There is a minor resistance at the 20-day EMA, close to $2.6, above which a rally to $2.8695 is likely. 

EOS USD daily chart. Source: Tradingview

The short-term traders can stay on the long side to pocket some quick gains but we suggest positional traders wait for a rally above the downtrend line before buying.

Contrary to our assumption, if the bears sink the price below $2.4001, the EOS/USD pair can retest the recent low of $2.1624. A break below this level will be a huge negative as it will resume the downtrend.

BNB/USD

Binance Coin (BNB) has been trading just below the overhead resistance zone of $13.88 to $14.2555 for the past two days. This is a positive sign as it indicates buying at lower levels. However, the bears are unlikely to throw in the towel easily. 

BNB USD daily chart. Source: Tradingview

We anticipate the bears to mount a strong defense between $13.88 and the downsloping 20-day EMA at $14.60. If the price turns down from this resistance zone, a retest of the recent low at $12.1111 is likely.

Conversely, if the bulls can sustain the BNB/USD pair above the 20-day EMA, it will indicate strength. Above this level, a move to $16.50 is possible. We will wait for the price to sustain above $14.2555 before turning positive.

BSV/USD

Bitcoin SV (BSV) has held the support at $78.506, which is a positive sign. This shows that  buyers are active close to support levels. The relief rally will face resistance at the downtrend line and above it at the 20-day EMA, close to $94.

BSV USD daily chart. Source: Tradingview

A breakout of the 20-day EMA will be the first indication that buyers are back in the game. If the price sustains above $94, it could offer a buying opportunity. 

Our bullish view will be invalidated if the BSV/USD pair turns down from the overhead resistance and dips below $78.506. If this level breaks down, the downtrend can extend to $66.666. 

XTZ/USD

Tezos (XTZ) has turned volatile with large intraday ranges in the past two days. This indicates that both bulls and bears are attempting to assert their supremacy. This might keep the altcoin range-bound between $1.18 and $1.65 for the next few days.

XTZ USD daily chart. Source: Tradingview

A break above $1.65 can carry the price to $1.85. We anticipate a stiff resistance at this level but if the bulls can scale above it, the XTZ/USD pair will pick up momentum. 

On the downside, a break below $1.18 will be a negative sign that can drag the price to $1.10. We do not find any reliable buy setups at the current levels, hence, we remain neutral on the pair. 

XLM/USD

The pullback in Stellar (XLM) could not even reach the breakdown level of $0.051014. This is a negative sign as it shows a lack of buyers at higher levels. The bears will once again attempt to resume the downtrend by breaking below the recent low of $0.042133. If successful, the next stop is likely to be $0.036769.

XLM USD daily chart. Source: Tradingview

However, if the bulls defend the support at $0.042133, the XLM/USD pair might consolidate for a few more days. The first sign of strength will be after the bulls scale and sustain the price above $0.051014. Until then, we suggest traders remain on the sidelines. 

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

How Blockchain Can Eliminate $592M in SNAP Benefit Fraud

The Supplemental Nutrition Assistance Program (SNAP), formerly known as the Food Stamp Program, is the largest program of the US Department of agriculture in terms of the number of recipients and budget. 

Thanks to SNAP, over 40 million (2018) low-income Americans are able to receive financial assistance to buy food, offering an average monthly payout of $125 per qualifying member.

In 2018, SNAP costed US taxpayers over $65 billion. However, a small, but manageable chunk of this massive sum went to fraudulent uses. Orbs, a company that created a hybrid public blockchain designed for large scale consumer applications, recently released a blog post highlighting how SNAP is often abused. 

The SNAP State Activity Report found that roughly $592.7 million in SNAP benefits were “Fraud Dollars”, meaning that they were likely misused, traded for cash, unapproved items such as controlled substances. Other abuses of SNAP even implicate some retailers, who would charge an EBT with a certain amount in exchange for a discounted cash amount, or simply overcharging the EBT to sell unapproved items. 

While the fraud may seem small as a percentage of the total expenditure (about 0.8%), $592.7 million is still a significant amount that could be better utilized to either provide more benefits for qualifying SNAP participants or other public programs. 

Orbs is making the case for blockchain as a seamless solution to eliminate SNAP fraud with a limited overhaul of the massive public platform. 

We connected with Netta Korin, the co-founder Orbs to discuss. 


How does SNAP benefit fraud impact families in need?

Fraud leads to a reduction of the benefits received by qualifying recipients who do not abuse the system. 

Those most affected by fraud include those whose benefits are collected on their behalf, with a majority including children and individuals with disabilities. 

Furthermore, abuses to the system by recipients of service-providers provide individuals lobbying against SNAP and general social benefits with ammunition; which can, in turn, influence the reduction in aid and commitment to families in need. 

Could you explain how SNAP benefit fraud proliferates?

SNAP fraud is typically defined as the exchange of benefits for cash or other ineligible items (trafficking), or purposefully misrepresenting information on your SNAP application with the aim of receiving more benefits.

Although the overall percentage of program participants participating is still relatively low (.9%) – the extent has been on the rise. According to data from the U.S. Department of Agriculture, benefit fraud increased by a staggering 61% in 2016 from $367.1 million in 2012. 

As a result of increased fraud, administrative overhead and costs related to enforcement against fraud have swelled. If these costs were to be minimized, greater benefits for eligible persons would become available. 

How can blockchain slow SNAP benefit fraud, or completely stop it?

SNAP participants already receive their benefits through an electronic benefit transfer (EBT) card, which is de-facto a digital wallet. We suggest migrating the EBT platform to the blockchain, rather than leaving it centralized. 

Notably, this migration would not cause any adverse changes to users’ day-to-day experience. Users would also have the ability to use their EBT cards as Digital IDs provided by the US government, essentially making them dual purpose.  

Our recent blog post highlights how various federal support programs are managed separately. This separation often leads to confusion among applicants who are unaware of their eligibility for support from other programs, as well as an aversion to enrolling due to the barriers involved. 

A Digital ID platform, based on data collected from certain programs, could reduce applicant confusion and frustration by helping them navigate applications and automatically matching them to additional programs where they meet the criteria making the overall process much faster, easier and efficient. 

In short, the migration of the EBT platform to blockchain serves two key benefits:

  • Direct – Being upgraded to a digital ID that acts as a key for additional benefits, rather than “just” a digital wallet for SNAP benefits, will immediately increase the intrinsic value of the EBT card in the eyes of its holder. Subsequently, EBT cardholders will be less likely to “traffic” it for cash, which is one common form of SNAP fraud.
  • Indirect – If participants are eligible for aid from additional welfare programs, they can easily and efficiently apply, cutting bureaucracy to a minimum.

Do you see this being implemented in the reasonable future?

Yes. We see more and more governments, NGOs and enterprises looking into blockchain-based Digital ID solutions. Due to the Hexa Foundation’s focus on blockchain for social impact, I was invited to join the WEF Global Future Council on Humanitarian Systems which met in Dubai in November. 

One of the Council’s goals is to unlock new technological solutions to increase the efficiency of global humanitarian efforts. A significant portion of our discussion involved how to use solutions such as digital identity to enable greater program efficiencies.

While there are certain aspects that require careful attention such as privacy and regulation, etc., the overall trend is clear: Blockchain provides a solid solution for managing one’s ID and these organizations realize that. The migration to a blockchain can also be carried out gradually, allowing agencies to adopt it in small, easily manageable steps

With SNAP, we recommend the first step as transitioning the EBT cards to a blockchain-based platform; then adding on the Digital ID layers later on. The solution we suggest does exactly that. 

What are the major obstacles we need to overcome to see blockchain being utilized in the public sector?

Education of the public sector. There is still deep confusion concerning blockchain, including what it’s good for and what it is not good for so we’ve spent a great deal of time investing in educating both college students and the international community through our membership in the Mousebelt Blockchain Education Alliance and our participation in the United Nations hackathon for social impact where a solution built on Orbs won! 

Most people still tend to confuse blockchain with cryptocurrencies, and are therefore deterred from it. Others try to present as a “fix all” solution. We take a realistic approach – it can make a big difference in tackling certain use cases but it isn’t always the best solution for everything.  

In terms of technology, there is still a way to go, but we already have enough in order to launch and support successful projects for meaningful causes. We’ve had ongoing discussions of this topic which can be found in previous publications of our Foundation, such as the one on blockchain aid for the refugee crisis

We spend a lot of time and effort educating global leaders as to the added value of blockchain technology to enable more trustworthy, efficient and transparent systems as part of our Hexa Foundation.

Lastly, it’s important to note that the public sector is primed for blockchain innovation since in most countries, transparency in the process is already mandated by law. 

What are other simple use case parallels a similar blockchain solution can be used for?

Blockchain can be used to improve transparency and accessibility in a variety of ways. For example, migrating government centralized registries. e.g. car ownership, real estate, trademarks, certifications, to blockchain-based registries. Additionally, public procurement tenders, which would provide transparency into the use of public proceeds, as well as the distribution of humanitarian aid in refugee camps, ensuring it is received by the end-user.

Thank you, Netta!

This article is Originally posted on CoinCentral.com
Author: Alex Moskov

BCH Is An A-Class Crypto for Auditability – BTC Ethereum Crypto Currency Blog

Crypto research group Coin Metrics recently released issue 30 of its “State of the Network” series, which ranks crypto assets by auditability. Taking into account node operation, synchronization, normal operation, code audit and extraction of ledger data, the top 10 cryptocurrencies by market cap were ranked. These were also ranked on ease of ledger reconstruction, and in both categories bitcoin cash emerged as a top-ranked, grade A crypto.

Also Read: Crypto Experts Give Their Top Predictions for 2020

Methodology

Released on Tuesday, the Coin Metrics report goes into great detail describing the methodology for its rankings. “As well as running nodes for most major crypto assets, we also extract raw blockchain data from them to rebuild the asset’s ledger independently. This allows us to compute many of our metrics (for example, realized capitalization) but also to more deeply analyze each asset,” the post details.

Rating node operation, synchronization, normal operation, auditability of code, and extractability of ledger data, Coin Metrics ranks the top ten market cap cryptos on their overall soundness and transparency. For example, citing the Binance chain’s code the report reads: “In that dimension, of the more than 35 unique nodes that Coin Metrics manages, one is unique: Binance Chain. It’s the only one whose source code is not available: only signed binaries are provided to would-be node maintainers.”

Regarding difficulty of synchronization and EOS, it is noted that “synchronizing a full archive EOS node took more than one month and required a machine with terabytes of NVMe SSDs, some of the fastest storage available.”

Auditability rankings. Source: https://coinmetrics.substack.com/p/coin-metrics-state-of-the-network-37f

Bitcoin, bitcoin cash, litecoin and bitcoin SV all received an A rating with the aforementioned auditability dimensions considered. Ethereum got a B “Since historical ledger auditing for ethereum requires a node with tracing and they take a long time to synchronize.” As for tether, the Omni Layer it utilizes was found by Coin Metrics to have “many different ways to credit and debit native units, each accessible through its own API endpoint,” resulting in complications.

“Despite having a very clean accounting model for an asset of its complexity, EOS gets an F due to the complexity of extracting all the necessary data to run a complete audit,” the report reads. When it came to Binance, they struck out on two counts: a “complex fee schedule for its DEX” and closed source code for the same which “makes reverse engineering this schedule very hard.”

Ledger Reconstruction Rankings

The second major evaluation of the Coin Metrics report focuses on ledger reconstruction. With the nodes synchronized, auditors can then rebuild the various ledgers. “The way this is accomplished depends on the asset’s accounting model: UTXO-based (like Bitcoin and its derivatives) or account-based (Ethereum and many others),” the report notes.

Some idiosyncrasies and important notes are made regarding how supply is determined. Where bitcoin is concerned, OP_Return outputs and the genesis block’s output are not counted. Regarding Ethereum, the report clarifies that “Account-based transactions, especially smart contract invocations, only describe the intent of the user, not its effects on the ledger. To be able to recover their impact on the ledger, nodes often need to be run with what is often called ‘tracing’.”

Also noted by the report are the difficulties arising with implicit block rewards and implicit ledger edits which are not an issue for most UTXO cryptos — as the reward amount is clearly seen in each block — but can present problems for account-based assets like ethereum.

Ledger reconstruction rankings. Source: https://coinmetrics.substack.com/p/coin-metrics-state-of-the-network-37f

“Ripple and Stellar are not graded as we do not reconstruct their ledger completely independently as we rely on APIs provided by third parties,” Coin Metrics notes. Their report continues:

Bitcoin and its derivatives (Bitcoin Cash, Litecoin, BSV) receive an A as tracking their UTXO set is a simple task.

Omni gets a B this time due to multiple “ways to move native units which makes it harder to track.” EOS gets a B due to its large scale, which makes auditing difficult. “For Ethereum, the current state of the tools we use don’t allow a full reconstruction of the ledger only using the data exposed by tracing, the changes made in the DAO hard fork have to be manually implemented. It therefore receives a C,” Coin Metrics details. Binance chain once again got an F thanks to a lack of source code and its highly complex DEX.

Keep it Simple

The Coin Metrics report concludes with a statement on validating supply, and notes: “This category doesn’t have a ranking as it’s binary: either we can validate the supply or we can’t due to being unable to reconstruct its ledger. There’s been no case of an asset for which we couldn’t determine what the expected supply should be. A few assets’ nodes let users query what the actual supply is (most notably Bitcoin and its derivatives) which makes this task easy.”

Coin Metrics further clarifies that their rankings are not necessarily reflections on the various protocols themselves, but are also affected by the “nodes and tooling available to users.” In any case, networks like Bitcoin Cash which are easily auditable, straightforward and simple to interact with foster market confidence, and make keeping things decentralized and secure by running one’s own node a readily available option.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

What do you think about Coin Metrics’ crypto rankings? Share your thoughts in the comments section below.


Images courtesy of Shutterstock, fair use.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post BCH Is An A-Class Crypto for Auditability appeared first on Bitcoin News.

https://news.bitcoin.com/bch-is-an-a-class-crypto-for-auditability/

Original Article
Author: btcethereumadmin

Report – BTC Ethereum Crypto Currency Blog

Research shows Bitcoin is improving its wealth distribution versus 2018, but among other cryptocurrencies big and small, the problem is getting worse.

Bitcoin (BTC) whales may have made headlines this month, but its wealth is more evenly distributed in 2019 — the opposite of major altcoins.

That was among the findings of research by Clovr, which analyzed wallets and transactions from various cryptocurrencies in November.

Bitcoin majority ownership requirement still top

The results showed that Bitcoin’s wealth distribution has improved versus 2018, but among the top altcoins by market cap, whales are controlling more and more of the supply. 

According to Clovr, which excluded wallets known or suspected to be attached to exchanges, Bitcoin’s Gini coefficient — a measure of wealth distribution — fell from 0.66 to 0.64 this year. 

By contrast, Bitcoin Cash (BCH) increased its Gini rating from 0.73 to 0.75, while largest altcoin Ether (ETH) went from 0.69 to 0.78.

Cryptocurrency wealth inequality. Source: BitInfoCharts, Clovr

Combined with the lower number of accounts needed for whales to theoretically conspire to control the blockchain, altcoins show themselves to be much more vulnerable than Bitcoin.

For whales to group together and control more than half the supply, the minimum number of controlled wallets for Bitcoin is 4,545.

Contrast that with Ether, where requires just 322, and Bitcoin Cash’s 1,109. Litecoin (LTC), another major altcoin, could be cornered from just 189 wallets.

Clovr used the top 10,000 wallet addresses from each cryptocurrency, excluding exchange wallets.

Researchers: Avoid cryptos with sub-$100M market cap

Beyond the big players, the research also found wealth inequality to be much more severe among major tokens on the Ethereum blockchain, or ERC-20 tokens.

Chief among these were Huobi Pool Token (HPT), the native currency of exchange Huobi’s mining pool, which had a Gini coefficient of 0.99 where 70% of the tokens are owned by a single address.

Across ERC-20, the smaller the token’s market cap, the bigger the wealth inequality problem becomes. 

“If centralized wealth worries you as a cryptocurrency investor, then it may help to avoid buying tokens with a market capitalization of less than $100 million,” researchers recommend.

As Cointelegraph reported, major transactions continue to catch the attention of analysts, particularly those whose origin or destination is unknown.

In September, a 94,000 BTC transaction saw its recipient wallet become what appeared to be the richest not belonging to an exchange.

Whale movements can also impact the market, as was allegedly the case last week when one of Bitfinex’s biggest traders appeared to “prop up” BTC/USD with a transaction worth 800 BTC (at the time $5.7 million).

Original Article
Author: btcethereumadmin