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

The bulls are not waiting for a deeper correction before buying, which shows that the momentum remains strong and the uptrend intact.

A report by investment management firm VanEck shows that Bitcoin can greatly improve the “risk and return reward profile of institutional investment portfolios.” The research shows that even a small allocation to Bitcoin in a portfolio mix of 60% equity and 40% bonds enhanced the cumulative return. 

The best portfolio return was seen with an investment of 3% in Bitcoin, 58.5% in equity and 38.5% in bonds. When Bitcoin was compared with traditional assets such as the U.S. dollar and gold, Bitcoin showed more features that are desirable from an asset class to be used as money. 

Daily cryptocurrency market performance. Source: Coin360

Another Japanese lawmaker said that the government should expedite work on launching a digital yen. The head of the banking and finance systems research commission at Japan’s Liberal Democratic Party, Kozo Yamamoto, said that the nation should launch a digital yen as soon as possible to counter the digital yuan being worked upon by China. This shows how central banks are recognizing the advantages of digitization and are working towards it.

After the sharp rally of the past few days, several major cryptocurrencies are showing signs of tiring out. Let’s analyze whether this is a short-term top or is it a minor correction after which the market will resume its uptrend.

BTC/USD

Bitcoin (BTC) has turned down from $10,188.97. This shows that bears are defending the overhead resistance at $10,360.89 aggressively. Due to the failure of the bulls to scale this level, the short-term traders are also likely to book profits.

BTC USD daily chart. Source: Tradingview

The bears can drag the price to the 20-day EMA at $9,600 but we expect the buyers to step in and defend this level. 

If the BTC/USD pair bounces off the 20-day EMA, the bulls will once again attempt to push the price above the overhead resistance at $10,360.89. If successful, a move to the long-term downtrend line at $11,500 is possible.

Conversely, if the bears sink the price below the 20-day EMA, a drop to $9,097.15 is possible. A break below this level will turn the trend in favor of the bears. Therefore, the traders can book partial profits at the current levels and keep the stop loss on the remaining long positions at $8,900.

ETH/USD

Ether (ETH) has turned down from $230.612. We had expected the bears to aggressively defend the $223.999-$235.70 zone. Therefore, we had suggested traders book partial profits in this zone.

ETH USD daily chart. Source: Tradingview

The first level to watch on the downside is the previous resistance of $197.75, which will now act as strong support. If the price bounces off this support, the ETH/USD pair might consolidate between $197.75-$235.70 for the next few days.

A break above $235.70 will start a new uptrend that can carry the price to $289.221 and above it to $318.238. On the other hand, if the price slips below the critical support at $197.75, it can drop to $173.841. Therefore, we suggest traders keep the stop-loss on the remaining long positions at $190. 

XRP/USD

XRP has turned down from the long-term downtrend line, which is a negative sign. It shows a lack of buyers at higher levels. The price can now dip to the first support at the 20-day EMA, which is at $0.256. 

XRP USD daily chart. Source: Tradingview

If the price bounces off the 20-day EMA, the bulls will try to break above the downtrend line. If successful, the next level to watch on the upside is the $0.31503-$0.34229 resistance zone. The bears will once again mount a stiff resistance in this zone. 

However, if the price drops below the 20-day EMA, the XRP/USD pair can decline to $0.2326. Therefore, the traders can keep the stop loss on the long positions at $0.245.

BCH/USD

Bitcoin Cash (BCH) has been trading around the $450 levels for the past few days. This shows that the demand is drying up at higher levels but the positive thing is that the bulls are still not closing their positions in a hurry.

BCH USD daily chart. Source: Tradingview

However, this tight range trading is unlikely to continue for long. If the BCH/USD pair does not resume its up move soon, the short-term traders are likely to book profits that can drag the price to the support line of the ascending channel at $400. A break below the channel will be the first sign of weakness. 

On the other hand, if the bulls can push the price and sustain above $460, the rally can extend to $500. Both moving averages are sloping up and the RSI is in the overbought zone, which suggests that the bulls have the upper hand. 

BSV/USD

The bulls propelled Bitcoin SV (BSV) above the symmetrical triangle on Feb. 8. This shows that the uptrend has resumed. The next level to watch on the upside is the lifetime highs at $458.74.

BSV USD daily chart. Source: Tradingview

However, if the bulls fail to sustain the price above $337.80, a drop to the 20-day EMA at $293.2 is possible. If the price bounces off this level, the bulls will again attempt to resume the up move.

Conversely, if the price dips below the 20-day EMA, the BSV/USD pair can drop to $236. If this support holds, the pair might remain range-bound between $236-$337.80 for a few days.

LTC/USD

Litecoin (LTC) turned down from $78.4145 on Feb. 9. The bears will now try to drag the price to the support at $66.1486. We expect this support to hold. Both moving averages are sloping up and the RSI is close to the oversold zone, which suggests that bulls have the upper hand.

LTC USD daily chart. Source: Tradingview

If the price bounces off $66.1486, the bulls will again try to scale above $80.2731. If successful, the uptrend will resume and the next level to watch on the upside is $96.439.

However, if the price again turns down from $80.2731, the LTC/USD pair can remain range-bound for a few days. A break below $66.1486 will signal weakness.

EOS/USD

EOS broke above the stiff overhead resistance at $4.8719 on Feb. 9. This is a huge positive as it shows that the bulls are keen to buy at higher levels. If the price sustains above this level, a rally to $6 is possible.

EOS USD daily chart. Source: Tradingview

Currently, the bears are attempting to drag the price back below $4.8719. If the price sustains below $4.8719, it will signal that the breakout was a bull trap. Below this level, the drop can extend to the $4.24 to $4.0 support zone.

A bounce off the support zone will keep the EOS/USD pair range-bound for a few days. The pair will turn negative on a break below $4.0.

BNB/USD

The momentum in Binance Coin (BNB) carried it above the overhead resistance level of $23.5213 on Feb.9. This is a huge positive as it shows demand at higher levels. If the bulls can sustain the price above $23.5213, a move to $29 is possible.

BNB USD daily chart. Source: Tradingview

However, the rally of the past few days has pushed the RSI deep into overbought territory, which points to a possible consolidation or a minor correction in the next few days. The first support to watch on the downside is the $23.5213 to $21.80 zone.

A bounce off this zone will signal strength and will increase the possibility of a rally to $29. On the other hand, if this zone gives way, the decline can extend to the 20-day EMA at $19.84. The traders can trail the stops on 50% of the long position to $21 and keep the rest at $19.

XTZ/USD

The bulls aggressively purchased the dip to $2.01 on Feb. 8 and have successfully pushed the price above the first overhead resistance at $2.50. Tezos (XTZ) can now move up to the next resistance at $2.90.

XTZ USD daily chart. Source: Tradingview

The rally of the past few days has pushed the RSI deep into the overbought territory, which suggests that the XTZ/USD pair is backed by momentum. If the momentum can carry the price above $2.90, the rally can extend to $3.35. 

However, when the RSI is deeply overbought, it increases the possibility of a correction. The first support on the downside is $2.25 and below it $2.0.

ADA/USD

The bulls are facing resistance close to the overhead resistance at $0.065229. The failure to propel the price above this level has attracted profit booking by the short-term traders. Cardano (ADA) can now dip to the first support at $0.0560221. 

ADA USD daily chart. Source: Tradingview

If the ADA/USD pair bounces off $0.0560221 or from the 20-day EMA at $0.0543, the bulls will make another attempt to push the price above $0.065229. If successful, a move to $0.08 will be on the cards.

On the other hand, if the bears can sink the price below the 20-day EMA, a drop to $0.0461161 is possible. Therefore, the traders can keep the stops on the remaining long positions at $0.054.

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

Litecoin Foundation Partners With Cred to Let Holders Earn Interest – BTC Ethereum Crypto Currency Blog

The Litecoin Foundation partnered with cryptocurrency lending provider Cred to let LTC holders earn interest from their crypto, receiving up to 10% interest.

Litecoin Foundation is partnering with Cred to offer interest on Litecoin (LTC) collateral, a Feb. 10 press release announced. Cred customers can lock their coins with the provider to earn up to 10% annual percentage rate.

Thanks to the strategic partnership, LTC holders will be able to lend their cryptocurrency at lucrative rates, similar to the various decentralized finance (DeFi) solutions on Ethereum. To benefit from the interest, a commitment of six months is required, with monthly interest payments in either fiat or cryptocurrency.

Other Cred partners such as Bitcoin.com, Uphold and BitBuy will also facilitate the credit process. Alan Austin, director at Litecoin Foundation, explained that the partnership adds an important use case for Litecoin:

“Strong use cases should be one of the most important considerations when evaluating cryptocurrency. In addition to Litecoin’s reliability, use for payments and excellent liquidity, the ability to earn interest at attractive rates through Cred’s platform further strengthens this use case.”

Part of the funds from the joint initiative will be used to help support Litecoin development. This comes amid recent funding inquiries, where Litecoin’s Founder Charlie Lee proposed a voluntary 1% donation to support the foundation’s work.

What is Cred?

Cred is a global cryptocurrency-based lending and borrowing platform. It strives to create a worldwide network for accessing credit and maintaining a global credit history, using the LBA utility token to provide interest rate premiums. It was founded by former PayPal executive Dan Schatt, whom Cointelegraph recently interviewed.

Original Article
Author: btcethereumadmin

What Are Altcoins and Why Are There Over 5,000 of Them? – BTC Ethereum Crypto Currency Blog

According to crypto market capitalization aggregators, there are more than 5,000 cryptocurrencies in existence today and over 20,000 different types of markets. BTC is the oldest and most known digital asset and most everything else has been typically referred to as an “altcoin.” The term refers to any of the thousands of prevalent cryptocurrencies that aim to work alongside bitcoin and each other, or are competing for ultimate domination.

Also read: Bitcoin History Part 5: A Wild Altcoin Appears

Since 2011 the Rate of Altcoin Issuance Has Grown Exponentially

Satoshi’s creation has been around for over 11 years now and there are 5,098 alternative cryptocurrencies (altcoins) that exist next to the creator’s invention. Cryptocurrency historians widely consider the Namecoin network as the very first altcoin and the term ‘altcoin’ was allegedly first described by the developer Andrew Chow.

Namecoin is not depicted in this picture but NMC is considered the first altcoin, launched in April 2011. LTC came out in October 2011 and many other digital currencies followed year after year.

Namecoin was launched on April 18, 2011, and the project aims to decentralize domain registration. Between 2011 and 2014 — before the 2015 blockchain hype — the rate of Altcoin launches started to grow exponentially. Following namecoin, bitcoiners witnessed the birth of ripple, litecoin, peercoin, feathercoin, mastercoin, counterparty, and unobtainium. There are now thousands of digital currencies that used the BTC codebase and developers have changed a few minor details with coins like einsteinium, litecoin, dash, zcash, and novacoin. There are also forks of Ethereum (ETH) with networks like ubiq, ethereum classic, and wanchain. Bytecoin has a unique codebase and also has a plethora of forks including monero, boolberry, and electroneum.

Today there are roughly 5,098 altcoins in existence. If you are interested in checking out all the digital currencies and markets check out markets.bitcoin.com for an aggregated list of coin market caps.

Ripple has the fork stellar and NXT has forks like nem, ardor, and burst. When you travel further down the rabbit hole, you will also find tokens created by networks like Tron, Bitcoin Cash and Ethereum using the TRC20, SLP or ERC20 token standards. Some forks were born directly from the codebase hosted on sites like Github and some forks are created by a blockchain diverging into two different chains. If a group of people tweak the original code and run the software differently than the main consensus rules, they will fork off into a new blockchain scheme.

While some digital currencies are created by copying directly from a coin like BTC’s codebase, other coins have been created by changing the consensus rules and therefore splitting off into a new network.

A Number of Cryptocurrencies Are Dead, But That’s Not Stopping Developers from Creating a Better Bitcoin

Today, the thousands of digital assets in existence are tallied together on market valuation websites like coinmarketcap.com, markets.bitcoin.com, and messari.io. Out of all the cryptocurrencies traded on the open market, the valuation of all 5000+ coins in existence is around $285 billion today. The BTC network captures around 63% of the overall market capitalization with its net value at $183 billion. A December, 2013 historical snapshot from coinmarketcap.com shows that the top ten cryptocurrency market caps were a lot different than they are today. BTC only had a valuation of around $13 billion in December 2013 and the altcoins beneath it were totally different coins than today’s top ten list. The top ten during the last month of 2013 included BTC, LTC, XRP, PPC, NMC, MEC, FTC, WDC, XPM, FRC, and NVC. The top ten list today, in February 2019 includes BTC, ETH, XRP, BCH, BSV, LTC, EOS, USDT, BNB, and XTZ.

Besides BTC, LTC, and XRP the entire top ten list of cryptocurrency market caps has changed. Did you know you can buy and trade many of these digital assets on Exchange.Bitcoin.com? Did you also know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? Check out Bitcoin.com’s services today.

If Satoshi Nakamoto was a genius, people probably wonder why there are thousands of digital tokens in the cryptoconomy. A few people know what they are and where they came from but often think about why altcoins exist. There are lots of reasons why altcoins exist and its mainly because people can do what they want in this permissionless environment. But also, some individuals, groups, and developers believe they can create a cryptocurrency project that outpaces BTC or they’ve created a coin to offer compatibility, but also different features than BTC.

There are many reasons why altcoins exist and the main reason is that anyone can create one in a permissionless fashion. Other people have created altcoins to compete with bitcoin and the projects claim to offer better privacy, more decentralization, or they focus on something that bitcoin cannot do. Out of the thousands of altcoins today, all of the creators will tell you exactly why they believe there’s a need for another cryptocurrency.

Some projects claim to offer better anonymity and some coins aim to tackle a specific industry like entertainment. There are digital assets that provide people with the ability to create their own tokens and develop smart contracts as well. Altcoins exist because Satoshi not only unveiled the Bitcoin network, but the anonymous creator also opened a kind of Pandora’s box in the worlds of tech and finance. Now that the box is open, there’s no going back and it doesn’t seem like the rate of altcoin issuance is slowing down any time soon.

What do you think about the thousands of altcoins in existence? Why do you think there are so many cryptocurrencies in existence today? Let us know what you think about this topic in the comments section below.

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.


Image credits: Shutterstock, Markets.Bitcoin.com, coinmarketcap.com, Pixabay, Fair Use, and Wiki Commons.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post What Are Altcoins and Why Are There Over 5,000 of Them? appeared first on Bitcoin News.

https://news.bitcoin.com/altcoins-why-over-5000/

Original Article
Author: btcethereumadmin