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BTC Took Down The First Obstacle, ADA Bullish Patterns, ETH Mixed Signs: Price Analysis, Oct. 9, 2018

Pricewise
Bitcoin took down the first obstacle, Cardano shows some bullish patterns, Ethereum is on the mixed area
BTC Took Down The First Obstacle, ADA Bullish Patterns, ETH Mixed Signs: Price Analysis, Oct. 9, 2018
Contents

*** Please note the analysis below is not investment advice. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of U.Today. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin took down the first obstacle

Yesterday, we got a daily candle closing above the orange line and the 50 EMA. These were the first obstacles to be taken down to climb to higher levels.

image

The Hammer candlestick pattern, which appeared after the price bounced up from the trendline after July 24, worked nicely and the momentum guides us through the first obstacles.

Highest October candle is closing at $6,672 and it confirms that the current momentum is bullish.

Currently, altcoins show mixed signs, some of them are on the green side, some of them are on the red. Yesterday’s move through the orange area doesn’t look like a fake action due to the fact that altcoins were also on the positive side. Altcoins follow-up confirms the current momentum on the market is bullish.

CARDANO (ADA/USD) Shows Some Bullish Patterns

image
The last two days have been very bullish for Cardano. Here are a few confirmation signs to analyze. The first sign is the continuation chart pattern called “Falling Wedge”. The latest momentum was upward and after that, the price stayed in the consolidation mode (sideways movement). This sideways movement allows drawing the trendlines which will indicate that there is the “Falling Wedge” continuation pattern.

The second bullish sign is a bullish candlestick pattern called “Engulfing”. On Sunday, there was an upward breakout from the chart pattern resulting in a candle close above the August low which worked as a resistance. This candle eats entirely the previous one and thus we see a bullish “Engulfing” candlestick pattern. Yesterday, this bullish momentum continued and we have a breakout from the “Falling Wedge” as a confirmation.

The next resistances are the strong area around $0.091 and the round number $0.1. Those were the major resistances before we could see the major target area around June low at $0.113. In this area, we should make a big price structure change an HH (higher high).

The target area is coming from the chart pattern. The target has to be of the same size as the “Falling Wedge” ‘pole’.

So, if the price reaches into the mentioned resistance area you will have to see what Bitcoin does and read out some price action from the ADA chart.

ETHEREUM (ETH/USD) Is On The Mixed Area

Ethereum is on the mixed sings area. What does it mean?

image

We have several bullish signs and some bearish signs, too.

Let's start with the bullish ones:

  1. The Ethereum price still makes perfect higher lows (HL) which will indicate that the upwards momentum is on the chart. It means that buyers are earlier on the market and it makes those lows higher, they just don’t want to see lower prices.
  2. We have a breakout above the short-term counter trendline. Since Sept. 22, ETH has slowly moved downwards and it has made lower highs. Yesterday, however, it made a confirmed break above this trendline which indicates that the bullish momentum may continue.

Bearish signs are as follows:

  1. The price is still below the short-term upwards trendline. Yes, it makes higher lows but the strong momentum has gone, though we slowly start to pick it up again.
  2. The price is still below the 200 EMA and strong resistance. The resistance, a short-term upwards trendline and the 200 EMA make a crossing area. To see a powerfully bullish Ethereum, we have to break down this crossing area but it’s difficult: several price action criteria match each other in one price level and, as you know, those levels are very hard to beat and it takes a lot of power.

So, both resistance and support are strong (the support consists of the strong support (a blue line), the short-term counter trendline works as a support). A breakout from either of the blue lines will guide us to the next move.

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Darryn Pollock

Amid the Cryptocurrency Bloodshed, What is Going on With Bitcoin Cash?

Some say BCH’s fork was the reason for the market crash, so what exactly is going on in that hash war almost a week later?
Amid the Cryptocurrency Bloodshed, What is Going on With Bitcoin Cash?
Contents

On November 15, Bitcoin Cash went through with its second controversial hard fork as the two sides, BCH SV and BCH ABC — headed up by the likes of Craig Wright in the former and Roger Ver for the latter — could not come to an agreement about the future of the blockchain.

Since then, there has not only been a dramatic downturn in the cryptocurrency market, which many believe is linked to this uncertainty around BCH, but the two competing chains of BCH have been in a hash war, with neither relenting.

It seems that, after nearly a week, the outcome in this battle will be two Bitcoin Cash chains carrying on for the foreseeable future. It is all about which of these chains gains the most support from the cryptocurrency community and exchanges, and the likes.

The battle has spilled out onto Twitter, and many have been watching with keen interest as to how things will go for the two sides, but what is clear is that the battle is still raging and neither is ready to give up.

Exchange support

With the idea that there may well be two Bitcoin Cash chains going forward, the likes of some of the major exchanges have started warming up to the idea. Many exchanges pledged support before the fork, and some are now starting to take their pick on who to support.

Many exchanges froze trading on Bitcoin Cash as the fork played out, but the freeze is now thawing.

On Tuesday, Coinbase said it was “now prepared to resume limited trading in Bitcoin Cash,” designating the Bitcoin “Adjustable Blocksize Cap” or Bitcoin ABC chain with the Bitcoin Cash BCH ticker.

Coinbase has said its intention is to stick with BCH SV in relation to withdrawals, but the development of this could take a few weeks to get right.

There are others, such as Poloniex and Bitfinex, who have already started supporting both of the networks and in doing so have actually stripped away the traditional BCH symbol, replacing it with the pool names of Satoshi’s Vision (SV) and ABC - BCHABC or BAB and BCHSV or BSV.

Despite the varying levels of support from different exchanges, evidence suggests that the Bitcoin ABC chain is leading over Bitcoin SV both in terms of block count and proof of work.

It will take time

While the hard fork did turn into a proper hash war, the battle is not over yet, and while the rest of the community tries to decide in which direction to go, Wright proclaims that the fight is not over.

“We’re still competing. This is going to take some time. This is not a split, this is one survives and one dies and it is not going to be us that dies,” Wight said.

On the other side of the fence, Ver, the CEO of mining pool Bitcoin.com, claims that the current hash power that is going to mine blocks on Bitcoin ABC can sustainably run for months.

“It’s none of your business where the hash rate came from and it’s not for a single day, it’s for as long as we want. We can go for a single decade if we need to so bring it baby,” Ver said.

With such strong and direct comments coming from the two figure heads of the split, a hostile takeover of either chain is well within the realm of possibility. This could come about if there is enough hashing power to launch a 51 percent hack on the other — and Wright thinks that can happen in the long run.

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Past ICO Review: How Anti-Stupidity Crypto Project Has Reached its Goals by Completely Failing

👁 ICO Watch
A failed crypto project that raised north of $19 mln, increased the average IQ of the cryptomarket by removing a significant bunch of people too stupid to operate on it
Past ICO Review: How Anti-Stupidity Crypto Project Has Reached its Goals by Completely Failing
Contents

I grew up in a plattenbau neighborhood, in a micro-district inspired by Le Corbusier. It is fashionable to despise this architectural style, but I must admit that I secretly love factory-built assembled plattenbau projects.

The thing is, I love them on the design sketches, on maquette miniatures, I love them in the imagination of their architects, I love them on 70s postcards of an idyllic, innocent urban landscapes of heartland’s France towns social housing developments (which we know ended up eventually converting into ethnic ghettos and welfare-subsidised slums).

They say mass-production buildings and vast spaces create ghettos. They blame Le Corbusier for their misery. Nonsense. Le Corbusier and his disciples aren’t to blame. The residents are.

Beautiful, well-thought projects of well-organized, frugal, cost-effective communal life was given to the people who weren’t enlightened enough to grasp the concept. They’ve brought their ignorance and prejudice to the bright world of the hopeful future, so that future never happened. If the same kind of people were given palaces as social housing, they would turn Versailles into a ghetto.

Well, 2017’s ICO rush have something in common with plattenbau. Technology isn’t to blame for humans’ stupidity. You may blame regulations, you may blame the lawlessness, you may blame whatever external factor there is, but sometimes, an ICO like that hype acts as a great equalizer, a machine to redistribute money between the stupid and the smart.

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I have no pity whatsoever for the people who invested into the thing called BitcoinGrowthFund, that is said to have raised some $19 mln in May 2017, and is among the biggest ICOs of 2017. They got what they deserve.

A website with no information on the team, with a laughable white paper, no advisors got that kind of money.

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The idea offered to the investors was essentially an investment fund: “you buy our coin, and we invest money into mining of cryptocurrencies with potential.”

They’ve had a wallet on the site, which showed the increase of the investment, but many people complained that when a withdrawal was attempted, the transaction simply did not take place. “Withdrawal of your money is more important than investing as if we cannot withdraw what is the sense of investing,”  asked one poor soul on bitcointalk. Mua. Ha. Ha.

Seems legit

Legally this is not a scam at all, and it took almost no effort to fool so many people. These people were quite straightforward: “MCAP tokens are not participation in the Company and MCAP tokens hold no rights in the said company. MCAP tokens are sold as a functional good and all proceeds received by Company may be spent freely by Company absent any conditions. MCAP tokens are intended for experts in dealing with cryptographic tokens and Blockchain-based software systems.”

They were telling the truth from the very start. BitcoinGrowthFund web is not updated since November 2017.

Even if sneaky Hindus behind this gig have spent every single penny they’ve raised on coke and New Dehli’s finest escorts, it’d still a better use for the money than it was in the hands of their so-called investors.

“Due diligence” wasn’t called that for nothing. Because it is a diligence that is due in some circumstance.

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Criminally stupid

Normally, I’d keep preaching that ICOs should start adopting regulations, better corporate governance, and so on and so forth. Not now. No regulation wouldn’t have helped here. It is like blaming plattenbau developments for ghettoization. Technology and laws aren’t to blame. People who invested in this kind of crap have to blame only themselves.

Don’t be like these people. Invest smart. And remember: CryptoComes is watching you.

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ICOs Performance in 2017 and Outlook For 2018: Review

👁 ICO Watch
It’s time to take what we learned from 2017 ICOs and move forward
ICOs Performance in 2017 and Outlook For 2018: Review
Contents

It was a major year for cryptos and ICOs in 2017; they really garnered more attention than ever before. Bitcoin was a major driver of that attention-drawing power because its price went “to the moon” in the course of six months from 3k to 20k by the end of the year.

People were jumping on the Bitcoin bandwagon with the help of Coinbase, which made it easy to buy cryptocurrencies for the average user. Coinbase took in more than $1 bln in revenue in 2017, a large percentage of which it made during the time between Thanksgiving and Christmas.

Besides the Bitcoin craze sweeping the world, altcoins had their days too, and ICO became an acronym that was added to the financial lexicon.

Top 10 ICOs of 2017 by funds raised

1. Filecoin $257 mln

2. Tezos $232 mln

3. EOS $180 mln

4. Bancor $153 mln

5. Status $108 mln

6. MobileGo $53 mln

7. SONM $42 mln

8. Basic Attention Token $35 mln

9. Polybius $31 mln

10. Aeternity $24 mln

The failures

Starting with the bad first.

While there was lots of money raised last year, some estimates put it at $5.6 bln, not all companies were successful after the ICOs.

Many of them, around half of all startups, failed or are in the process of failing.

This is puzzling because the ICOs are raising a lot of investor money meaning that the product or service would have something good to offer. Otherwise, why would investors be laying down their hard-earned cash to support something that has potential, right?

Well, not so much.

Speculation was one of the primary reasons why ICOs raised so much money and then crashed and failed. There were many people out there with the idea that the ICOs would allow them to get rich quick by investing their money in any crypto that came along.

For a time that was sort of true, the crypto market just kept growing and growing, but it was speculative spending that fueled this expansion.

Investors were throwing their money at any newly-launched crypto in hopes of it becoming the next Bitcoin. However, that was not the case.

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Many of the ideas behind theses companies were bad, or the founders got greedy and fought each other sending the company out of control, for example, Paragon and Tezos, respectively.

Paragon tried to get into the legal marijuana industry but found itself up against a wall with Federal regulations and gray areas; not a good mix for business. Tezos had all sorts of legal issues and infighting between the founders and partners, which dragged it down into the ground. Somewhere not just bad business ideas but flat out scams.

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10 ICO scams of 2017

Amounts listed were how much money was stolen in the fake ICO.

  1. ToTheMoon $27 Mln

  2. Plexcoin $15 Mln

  3. Bitcard $5 Mln

  4. Benebit ~$4 Mln

  5. Mybtgwallet.com $3.3 Mln

  6. Confido $375k

  7. PonziCoin $250k

  8. Karbon $200k

  9. HongCoin

  10. BorgDAO

The successes

Despite all the failures and scammers, which have now tainted the ICO and brought the attention of many regulatory bodies, there have been a number of successes. EOS is one of the major successes, which looks to unseat Ethereum as one of the primary smart contract coins.

Aeternity is another coin which uses an oracle and state channels to allow users from around the globe to trade in a trustless way with each other. A major indicator for success was that these companies offered a product or a service that benefited the user, not just another way to payment service.

Outlook 2018

There has been a lot of good, a lot of bad, and a sure lot of ugly that has emerged from the ICO boom of 2017.

From all this chaos will come regulation to settle things down a bit. The scams, however, have been a major black mark on the ICO name, which will require regulation to weed out the bad from the good.

Google and Facebook have also taken a stand on the advertising of ICOs because these companies have deemed them dangerous for consumers.The funny thing is that there are rumors about Facebook being ready to launch its own cryptocurrency.

Card

Conversely, the true beauty of the ICO is that it is unregulated and allows anyone to participate in the ICO, unlike the formal and well-regulated stock markets and securities exchanges, which require a lot of wealth upfront to join.

This year will have more in store for ICOs as they face a more challenging climate to adapt to, growing calls for regulation, and more scrutinization coming down from governments and regulatory agencies. Despite the negative growing climate against ICOs, it should give them all the more they need to adapt, develop, and change in order to beat the negative pressures and regain their former strength with some modifications.  

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Top 10 Coin in 2020 Forecast: Prediction How Much Will the Big Cryptocurrency Cost?

📚 Wikicoin
Top 10 crypto coins that can multiply your riches in 2020
Top 10 Coin in 2020 Forecast: Prediction How Much Will the Big Cryptocurrency Cost?
Contents

We’re slowly moving towards a utopian society where the economy is totally decentralized, and people use cryptocurrency instead of fiat currency. Whether you like it or not, the crypto community continues making waves and gathering enthusiasts all over the world. Virtual money is only rising in popularity, while the value of coins is highly unstable.

Definitely, buying some crypto won’t hurt if you have some bucks to spare. But what are the best coins to invest in? Today we will muse about the future of the most well-known coins and their value.

‘’Predicting the long-term outcome is easier than the short-term‘’- Naval Ravikant (Zcash Foundation)

In fact, short-term predictions appear to be more challenging because, in short terms, we have to consider temporary risks, such as geopolitical events, technological advancements, and failures, etc. In the long term, these factors may not necessarily matter.

What the coin price depends on?

Before we start observing the best coins to buy, let’s find out what the cost may depend on. The following factors have the potential to change cryptocurrency price:

  • Software upgrade. When the quality of the network improves (transaction time, block generation, defense against hackers), cryptocurrency prices soar. As a professional trader, you should keep an eye out on upgrades and their implications.

  • The hype around the coin. Probably, this is one of the most important factors. Indeed, public opinion can either put a cryptocurrency on a pedestal or destroy it. The traders that rely on hype should finish trading before it subsides.

  • Reliability of the wallet. Since all cryptocurrencies are digital, the absence of a good wallet can repel future investors and affect the currency price.

  • Governmental regulations. As soon as some countries ban cryptocurrency trading and mining, the interest in coins is killed, which affects its value and price immediately and seriously. The SEC and Venezuela are good examples of that.

  • Platform Applications. Some crypto networks host additional apps that might have their own tokens. If such an app does well, it may have a positive impact not only on the native token but the underlying platform, too.

Now it’s time to imagine what the cryptocurrency market cap 2020 will be like, and which coins are worth considering. Let’s review the top 10 coins.

There’s a great video predicting the future of five popular cryptocurrencies:

https://www.youtube.com/watch?v=edhJ0yHd1KA  

Bitcoin

Most cryptocurrency specialists are sure that Bitcoin will still rein the market of top crypto coins in 2020. Its value will be sustained thanks to:

  • institutional money,

  • fast adoption rate,

  • potential global financial crisis.

A lot of institutions buy BTC hoping to make an investment that can pay off in the future– this is a piece of the pie which everyone should have. It goes without mentioning Lightning Network which will add incredible value to the Bitcoin ecosystem.

As for Bitcoin price, it’s expected to grow by 200 percent over two years, which means it can be around $13,000-14,000 by September 2020. Some Internet users are sure it will grow to $27,526.10.

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Ethereum

Ethereum is in a controversial position: specialists’ opinion gravitates towards pessimistic predictions. Although now Ethereum is still one of the major dApp development platforms, things can change if this networks won’t be capable of handling the transaction load. Blockchain 3.0 and 4.0 projects are snapping at Ethereum heels and developers need to improve scalability or jump to EOS to ensure optimal performance.

It’s hard to calculate the future coins’ price when the total supply is unknown. According to Vitalik Buterin, there will be about ~100 mln ETH circulating in 2020, and the Ethereum market share will be about 1,137,500, 000,000

$1,137,500,000,000 : 100,000,000 = $11,375 per coin, ~+4,000 percent from today.

Possible Ethereum development scenarios

Ripple

It’s not a secret that XRP can become the king of banking infrastructure, so Ripple forecast 2020 is quite optimistic. The rumor is that Ripple has established a partnership with Western Union and even want to replace the SWIFT network. Today, Western Union and Moneygram are already considering using XRP

As for the price, Ripple predictions 2020 differ. According to WalletInvestor, its price may rise by 380 percent and reach $0.6-0.7 in a couple of years. The team from longforecast.com mentions the maximum price of $0.42. XRP price prediction 2020 from cryptoground.com is $1.20, which makes it perfect for long-term investment.

Stack of Ripple coins

EOS

If you are hesitant and are still wondering which coin to invest in, EOS will be a sure-fire way to raise money in the not-so-far future. EOS.io is expected to become the number one system for enterprise applications. If we ever witness shifting of Twitter, Uber and Facebook to decentralized platforms, they’ll certainly be built on EOS. It’s highly scalable, and most Ethereum projects can be shifted to the EOS network, which makes it a potential killer of ETH.

2020 can become the golden age for EOS: it may reach $95 in the middle of the year and drop down to $55 by December 2020. Other forecasts mention such numbers as $60 (Facebook) and $23 (Google).

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Stellar Lumens

XLR is the main contender of XRM (it has 5x market share of XLM), and while Ripple will dominate in the big bank sphere, Stellar Lumens may get the rest of the market. These areas include:

  • remittance payments,

  • decentralized exchanges, such as SDEX,

  • ICOs on Stellar,

  • implementation of the Lightning Network,

  • cross-border payments in small banks.

Stellar Lumens price prediction 2020 is around $0.64-$0.7. However, some websites give way for more optimistic forecasts.

NEO

Thanks to the revolutionary technologies underlying NEO, it’ll continue to grow with record-breaking volumes. The NEO ecosystem has the potential to become a major public infrastructure, and the Chinese government is interested in it. If “CrypoYuan” is created, it will only put NEO significantly above all competitors.

NEO is one of worthiest coins to invest in due to optimistic forecasts: thanks to investment from the Chinese government and other enterprises, its price can grow to $200 and $300 per token. According to cryptoground.com, future NEO value will be $88 in 2020, while Google mentions the price of $77.

Cardano

The launching of Goguen Project and KEVM testnet can trigger the growth of Cardano. When Goguen Project is completed, we may witness Cardano price soaring. What also contributes to its growth is implementation in the Eastern Pacific, especially Japan. According to previsionibitcoin.it, Cardano price in 2020 can rise from $0.29 to $0.5.

More detailed Cardano prognosis is here:

https://www.youtube.com/watch?v=c6anNr0NP14

Litecoin

One of the major crypto coins to invest in, Litecoin will continue conquering the market thanks to its technological superiority over Bitcoin. We know that Bitcoin cannot serve as a global payment network, while Litecoin platform is ready to share this network load. Thanks to the Lightning Network, LTC will be interchangeable with Bitcoin.

According to realistic predictions, Litecoin price can double in 2020 and reach $80. Some Internet users are sure that it will rise by 440 percent and reach ~$234 in the middle of 2020.

LTC forecast

QASH

Since QASH is going to become a convenient platform for both retail and institutional investors, its price can grow significantly even in 2018. Wouldn’t it be cool to trade alts without having to exchange them into ETC/BTC? That’s why QASH was created– its LIQUID platform combines all major exchanges to trade altcoins. According to tradingbeasts.com, we will witness the rise of QASH token price from $1.65 to $12 in 2020. Coin Predictions website displays that QASH will be in the range of $1.5-$7.

Why QASH is better than its competitors?

Success Factors

QASH

BANCOR

EXCHANGE UNION

SALT

Proven team

+

+

+

+

Is it present in exchange & banking?

+

N/A

N/A

N/A

Regulated?

+

N/A

×

×

Main products are built and tested?

+

+

×

×

tZERO

Haven’t heard about tZERO? By the way, this is an emerging leader of the cryptocurrency market: its creators aim to make it the New York Stock Exchange of Crypto. The tZERO token will pay 10 percent of gross revenue to the holders, which will encourage token holders to lock up their funds. Specialists say that TZRO price can reach $200-$285 by 2020.

Why tZERO is better than the usual stock exchange?

Final thoughts

Such events like the implementation of crypto worldwide and the next global economic crisis can contribute to the raising of cryptocurrency value. Despite rumors, the bubble called ‘crypto’ is going to explode neither in 2019 nor in 2020. Therefore, if you opt for the best coin to invest in, you can multiply your riches in two years. Don’t let this golden opportunity slip by: purchase top 10 coins while they’re still available.

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The Power of One: Do Whales Have the Power to Rock Bitcoin’s Boat?

Cryptocurrency market may be growing, but it is still small enough that individual players can make a big splash in the way the price moves
The Power of One: Do Whales Have the Power to Rock Bitcoin’s Boat?
Contents

In most major markets today, the price fluctuation has a lot to do with news or group sentiment, it is not very often that an individual can affect the price of gold, for example. However, the cryptocurrency market, while being worth billions, still is prone to the odd splash from a big whale.

Whales are big money players within a market, and because of Bitcoin’s humble beginnings, where they were worth a few cents at a stage not too long ago, there are a lot of people out there who have quite a big haul from holding onto their coins.

But then, there are also people who have made their fortunes in Bitcoin that have enough to rock the boat, such as those tied to the infamous Silk Road, as well as people involved in Mt.Gox and its subsequent hack.

So, with Bitcoin suddenly plunging in price a week ago, with no real catalyst being offered, was it one individual flexing their weighty wallet? And if so, what are the dangers of having individuals with so much power in what is supposedly a decentralized system?

Latest Whale theories

The sudden drop that saw the cryptocurrency market plunge a few billion in terms of market capitalization in the last few weeks has been questioned relentlessly with a catalyst yet to be found. Goldman Sachs was lined up as a reason for the sudden fall, yet they denied it when they decided to delay their trading desk.

This made the speculators start revving up a few conspiracy theories, and those on Reddit delved deep into the working of the transparent Bitcoin address system.

50 transactions involving a total of 50 500 Bitcoin originating from one whale’s wallet were moved between Aug. 23 and 30. Based on Aug. 22nd’s closing price, they would be worth about $320 mln.

Some speculated that the money being moved was from a wallet tied to Mt. Gox, especially ahead of claims being allowed to open against the former exchange for corporations to recoup their money. There was also the belief that the move could have been from the Tokyo Whale, Nobuaki Kobayashi, the lawyer for the Mt. Gox trust, who has in the past made big money moves.

Even Silk Road and Ross Ulbricht, who went by the alias “ Dread Pirate Roberts, was hauled up in debate while he sits behind bars. Much of Robert’s funds were seized, but because of the anonymous nature of cryptocurrency, it is impossible to tell if he is totally devoid of all his Bitcoin fortune.

The power of one

The potential that one individual, moving a lot of money, that is not that hard to have come by in certain circumstances, affecting the market as it did is quite disconcerting. Bitcoin’s decentralized nature is supposed to be offering power back to the people and allowing a democratic system of finance.

However, in terms of its market, and as a commodity, there is already a lot of evidence that it is not as decentralized as many would like to believe. Banks and financial institutions have a lot of say in how the market moves with their own speculation of joining in or slating publically the cryptocurrency market.

If it is also true that individuals have as much sway as they do to manipulate the market, and bend it for their own personal gains, then it proves that the cryptocurrency market is still very small, and it has a long way to go before it can be considered truly matured.

But it is nothing new, there was, in 2017, an instance where an individual labeled Spoofy, was credited with affecting the market. It came down that this trader, or small group of traders, was purposely manipulating the market with a big bank balance.

Not only about manipulation

However, in the case of the latest conspiracy theories about the 50,500 Bitcoins that were moved, they might also have nothing to do with the cryptocurrency market crashing, even if it was a Mt.Gox move or something to do with Silk Road.

This is actually really interesting because of the Reddit detective work that’s been happening and just people making these assumptions that this whale is cashing out,” said Kim Grauer, senior economist at Chainalysis. “It leads to conspiracy theories that someone’s trying to sabotage Bitcoin- just from someone doing an administrative move of their funds for security purposes, or we don’t even know why they have done it.”

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