📈 Pricewise Andrew Strogoff

IOTA, DASH Biggest Losers of Day As Bitcoin Price Sinks Under $8,000

Pricewise
Cryptocurrency market suffered losses, the greatest losers are IOTA and DASH; BTC dips below $8,000
IOTA, DASH Biggest Losers of Day As Bitcoin Price Sinks Under $8,000

The top 20 cryptos are within the red area today. The losers of the day are IOTA and Dash as they have declined by 7.62 percent and 7.12 percent consequently. The others demonstrate negative tendencies as well. As for the fundamental background, it remains neutral.

There are some interesting news, that may attract investors’ attention. South Korean Customs Service is going to apply a Blockchain system to check all kind of shipments. This software is under testing currently. In order to develop the system, South Korean Customer Service has employed companies from Singapore and Vietnam.

Another important news comes from Bitfinex. They have announced that users will be required to provide their tax information. The received data will be transferred to British Virgin Islands.

The problem here is that this statistics may become available for clients’ country’s tax authorities later.

BTC/USD

btc hourly.jpg

Bitcoin established new local lows on the Hourly chart yesterday. However, bears were unable to develop their progress as a correction started from the support area at $7,941.

BTC price has tested this area twice and jump off it, aiming the closes resistance area at $8,128. BTC/USD stays here currently and tests this level from below. Bitcoin price is far below the Ichimoku cloud meaning bears are domination the market.

We have drawn a local descending trend line, which prevents Bitcoin from moving higher in the moment of writing. The currency pair has lost 1.98 percent in the past 24 hours.

The possible scenarios for the currency pair are the following:

  1. Bitcoin will break through the resistance area at $8,128 and continue to grow towards the next resistance area at $8,366. However, bulls will have to enter the Ichimoku cloud in order to reach the next goals.

  2. BTC/USD will jump off the current resistance area at $8,128. The currency pair will likely to decline towards the next support area at $7,941.

  3. The currency pair will stay close to the current level without significant changes.

btc daily.jpg

Bitcoin has almost left the Ichimoku cloud on the daily chart but there is no momentum meaning it will test the indicator again. The situation remains unclear as there are no signs of any tendency currently.

Card

LTC/USD

ltc hourly.jpg

The currency pair declined yesterday and reached new lows. Litecoin jumped off the support area at $129.41 and went towards the next resistance, which resides at $134.34.

However, LTC/USD failed to reach it. Litecoin is still trying to move higher, but it seems like bears are on guard currently preventing bulls from driving the currency pair higher.

Litecoin has lost 3.87% in the past 24 hours. LTC price is far below the Ichimoku cloud meaning bears are controlling the market.

The possible scenarios for LTC/USD are the following:

  1. LTC price will reach the next resistance area at $134.34 and to test it. There is a high probability that Litecoin will meet the descending local trend line (red) there. If successful, bulls will be able to drive LTC/USD even higher, above those lines.

  2. Litecoin will move towards the closest support area at $129.41 in order to test it. If successful, bears will push the currency pair even lower.

  3. There will be no significant changes and LTC price will stay close to the current levels.

ltc daily.jpg

Litecoin has left the Ichimoku cloud on the Daily chart but there is no momentum and the currency pair seems to test the lower border of the Ichimoku cloud in the nearest future.

ETH/USD

eth hourly.jpg

The currency pair declined yesterday and reached the support area at $663.14. Ethereum jumped off this level and started to grow today. TETH price is somewhere in the middle between two levels currently.

We have drawn a local descending trend line (red), which prevents ETH/USD from moving higher. Ethereum price is below the Ichimoku cloud meaning bears are in control of the market. Ethereum has lost 2.72 percent in the last 24 hours.

The possible scenarios for ETH/USD are the following:

  1. The currency pair will reach the local descending trend line and test it. If successful, buyers will be able to develop the progress and to reach the next resistance area at $695.52.

  2. Ethereum will reverse towards the closest support area at $663.14. The bears will try to cross the level and to push ETH/USD lower.

  3. There will be no significant changes in the next several hours.

eth daily.jpg

Ethereum still fluctuates above the Ichimoku clouds as bulls control the situation. There is no midterm trend currently as the price stays within a narrow horizontal channel.

ZEC/USD

zec hourly.jpg

The currency pair reached the support area at $306.71 during the Asian session. Zcash jumped off it later and moved higher. The currency pair has broken through the next resistance area at $325.54 and managed to develop its progress.

Bulls seem to drive ZEC/USD towards the next resistance area at $366.51, but there is an obstacle on their way as the price is still below the lower border of the Ichimoku cloud. Zcash declined 1.90 percent in the last 24 hours.

The possible scenarios for ZEC/USD are the following:

  1. Zcash will cross the Ichimoku could and reach the next resistance area at $366.51. There is the local ascending trend line close to that area and ZEC/USD is able to reach it in this case. If the price jump over this line, Zcash will restore the uptrend on the hourly chart.

  2. ZEC/USD will jump off the lower border of the Ichimoku cloud and move towards the closest support area at $325.54.

  3. ZEC price will stay close to the current levels without significant changes.

zec daily.jpg

Zcash jumped off the support area and the higher border of the Ichimoku cloud on the daily chart. However, the midterm situation still remains unclear.

XRP/USD

xrp hourly.jpg

Ripple established new lows yesterday, but bears were unable to hold the price there. XRP/USD went upwards and has broken through the closest resistance area at $0.6629.

Ripple managed to move a bit higher but was stopped by the local descending trend line (red). XRP price is far from the Ichimoku cloud meaning bears are domination the market. The currency pair has lost 3.18 percent  in the past 24 hours.

The possible scenarios for XRP/USD are the following:

  1. Ripple will try to test and the break through the local descending trend line (red). If successful, bulls will be able to drive the currency pair even higher towards the next resistance area at $0.6900.

  2. Rejected by the red descending trend line, Ripple price will decline towards the closes support are at $0.6629 first. If bears manage to cross this level, XRP/USD will fall even further towards yesterday’s lows.

  3. There will be nothing interesting as the price will stay close to the current levels without significant fluctuations.

xrp daily.jpg

The currency pair left the Ichimoku cloud as XRP/USD crossed the lower border of this formation. However, there is no momentum still and the fluctuations on the daily chart are lazy.

IOT/USD

iota hourly.jpg

The Internet of Things project’s cryptocurrency is one of two true “leaders” of the day as it has suffered significant decline and has lost about 7.62 percent in the past 24 hours. The currency pair reached new local lows at $1.68 area.

IOTA jump off this support level later and almost touched the local descending trend line (red). IOTA price is far below the Ichimoku cloud meaning bears have full control over the market in the moment of writing.

The possible scenarios for the crypto are the following:

  1. IOT/USD will move upwards and test the red local descending trend line. If successful, the buyer will be able to reach the closest resistance area at $1.79.

  2. IOTA will start to decline and reach the closest support area at $1.68, which coincides with the local lows, established yesterday.

  3. The coin will stay close to the current levels without significant changes.

iota daily.jpg

The currency pair has reached the higher border of the Ichimoku cloud on the daily chart and the moment of truth has come. Bulls are still in control over the market but may lose their momentum if bears push the price below the indicator.

DASH/USD

dash hourly.jpg

DASH is the second “leader” of the day as the currency pair has lost about 7.12 percent in the past 24 hours. DASH/USD has reached the local lows today and has found support at $374.77. The currency pair jumped off this line later.

DASH has almost reached the local descending trend line (red) but is still below it. DASH price is below the Ichimoku cloud meaning bears are dominating the market.

The possible scenarios for the coin are the following:

  1. DASH will jump over the local descending trend line (red) and move higher, towards the next resistance area at $400.30.

  2. The currency pair will jump off the descending trend line (red) and move towards the closest support area at $374.77.

  3. DASH price will remain unchanged and fluctuations will be quiet.

dash daily.jpg

The cryptocurrency has left the Ichimoku cloud on the daily chart, but the fluctuations remain calm. There is no momentum currently. Dash price is able to test the lower side of the Ichimoku cloud.

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David Dinkins

Ethereum Community Bitterly Divided Over Mechanism to Rollback Hacking Thefts

A proposal by Ethereum developers to formalize a method for partial network rollbacks in the event of theft has created a rift in the community.
Ethereum Community Bitterly Divided Over Mechanism to Rollback Hacking Thefts

The question of recovering lost Ether has once again come to the forefront, presenting great challenges to the Ethereum community. In the wake of last year’s Parity wallet hack, which cost users 513,000 Ether, developers are considering a proposal to allow such lost funds to be recovered. Ethereum Improvement Proposal (EIP) 867 proposes a mechanism by which the Ethereum community can implement a “state change” which essentially rolls back the hack and restores funds to their original owners.

What is it?

EIP 867 can be viewed (and commented upon) at Github. The “simple summary” explains the purpose of the EIP:

Provide a standardized format for Ethereum Recovery Proposals (ERPs), which relate to recovery of certain classes of lost funds. This EIP does not advocate for or against the acceptance of any particular recovery proposals.

Thus, developers are technically just laying out a procedure that would potentially allow lost funds to be recovered. They are not necessarily advocating for the use of any actual ERPs.

TheDAO

If this all sounds familiar, it’s because we’ve been here before. In 2016, a whopping 3.6 mln Ether was stolen from one of the earliest ICOs, called “TheDAO.” At the time, Ethereum’s developers and community had to decide how to handle the crisis. Not only was this a staggering amount of money, such a large sum of Ether would give the hacker disproportionate control over Ethereum’s network once it switched to Proof of Stake (PoS).

The Ethereum community essentially had to decide among a few possible outcomes. They could roll back the hack and restore funds to the original owners, thereby creating a precedent and demonstrating that Ethereum’s Blockchain was not immutable. Other options included either abandoning Proof of Stake plans or accepting that the hacker would have significant power once the change to PoS was made.

Ultimately, Ethereum’s miners chose the first option, and the immutability of Ethereum’s Blockchain was destroyed. Yet advocates of the rollback argued that the network was saved, and that it would only be a one-time occurrence, anyway.

The problem with precedent-setting cases is that, of course, they set precedents.

Controversy

Many community members are still arguing that the rollback of TheDAO hack was a one-off action and should never be repeated. Those who suffered from the Parity attack, including several ICOs, want to know why some hack victims should be reimbursed (from TheDAO hack) while they remain without their funds. They argue that the precedent for rollbacks has already been set. As the saying goes, “what’s good for the goose is good for the gander.”

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📈 Pricewise Vadique Magenta

Bitcoin Price Downward Trend Over As Spring Arrives, What’s Next?

Pricewise
Some tips on anticipating market trend reversals in the future, using Bitcoin as an example
 Bitcoin Price Downward Trend Over As Spring Arrives, What’s Next?

 

The break in a 74-day trend fell on the first day of spring. This is quite symbolic: on the surface, it looks like nature is asleep, however, the first signs of life are making their way through the snow-covered ground. As usual, the crowd takes a while to understand what is happening; this gave us time to make calm investment decisions.

Long before the visible line is crossed, the market will offer clues about a changing trend- here are a few of these clues.

We saw an 825-day record volume in a green candle, which resembles a hammer in shape and coincides with the culmination of sales. Many of those who bought at $12,000 with a 50 percent loss said "enough!" and left the market forever. At the same time, the patient, smart money absorbed the entire offer and demonstrated its interest.

 Bitcoin Price Downward Trend Over As Spring Arrives, What’s Next?

Second, we pushed off from the fourth of five root supports which originate at the base of the trend and have a decisive influence on the further fate of the asset.

 Bitcoin Price Downward Trend Over As Spring Arrives, What’s Next?

The third cause of the trend change is the formation of the reversal pattern "head and shoulders," which was activated perfectly- the price reached $11,000 by Feb. 28 in accordance with this framework.

 Bitcoin Price Downward Trend Over As Spring Arrives, What’s Next?

We also received plenty of local tips about the impending change. For example, after an unsuccessful attempt to break the trend on Feb. 21, we moved to a local decline, that is the decline was not too significant. However, each subsequent minimum was less than the previous one.

 Bitcoin Price Downward Trend Over As Spring Arrives, What’s Next?

So, at the moment, we are forming the "head and shoulders" pattern of a senior order and its activation will lead the price to $17,000 in the period from April 22 to May 28.

 Bitcoin Price Downward Trend Over As Spring Arrives, What’s Next?

And, what happens after that? That will be our little secret.

📈 Pricewise
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Wikicoin George Shnurenko

10 Best Cryptocurrency and Blockchain Books of All Time

📚 Wikicoin
Here’s a list of the best Blockchain books you can read
10 Best Cryptocurrency and Blockchain Books of All Time

The concept of Blockchain and cryptocurrency is, in itself, very abstract and unconventional, simply because we have been accustomed to centralized systems of operation. To understand such an innovative idea, you need to go through the books with best explanations of what is Bitcoin and Blockchain.

It will be unfair to list just a single book as no author is able to concisely deal with every part of Blockchain technology. Some have their strengths in cryptography, others can dissect the nodes and supernodes with consummate skill. It might help to consider what makes a Blockchain book truly spectacular.

What makes the best Blockchain book?

A thorough study of some of the Amazon Blockchain books showed that there’s a certain similarity shared between the bestselling books. For a book to truly resonate with a larger audience, it should have all of the features below:

  1. Ability to break down difficult concepts

  2. Brevity and conciseness

  3. Accuracy of assertions

  4. Depth of research

  5. Multi-faceted nature of the book

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1. The Internet of money by Andreas Antonopoulos

If you’re new to the crypto scene and you want to get started, this book by Andreas Antonopoulos will kick things off. You can, within two weeks of reading this book, become an expert at Blockchain, dishing out consultancy advice. It doesn’t just teach you how to, it addresses the pertinent questions about Blockchain, goes into detail about what it is not, and gives you practical insight into the concept. His quote, “First they ignore us, then they laugh at us, then they fight us, then we win” is a widely embraced axiom among Blockchain enthusiasts.

Bitcoin Books

2. Digital Gold by Nathaniel Popper

This is a narrative about the inception of the first ever cryptocurrency, Bitcoin. Many readers claim that this is one of those books on Blockchain and Bitcoin which you cannot put down. It is a page-turner, a true eye-opener. It talks about the mysteries surrounding Bitcoin and its anonymous founder, the activities in Silk Road, and the Winklevoss twins. This is unarguably one of the best Blockchain books.

3. Cryptoassets by Chris Burniske and Jack Tatar

Chris Burniske and Jack Tatar came together to create this masterpiece. If you want to be one of the best at cryptocurrency investment, you are required to go for the best book on Blockchain and Bitcoin. With Cryptoassets, you can accurately understand the fundamentals of investment with a framework to apply theory and practical. Earlier, we spoke about how research makes a book excellent. This book has solid references, charts, and tables which pique your interest.

4. Crypto by Nathan Rose

If you want to become a crypto financial analyst, this book is for you. Compared to other established technologies, Blockchain and cryptocurrency are still fledgling. In fact, the general public still finds the concept esoteric and this is understandable. Nathan explains what you need to choose an exchange, sign up, deposit currencies, make your trade and eventually make profits.

Bitcoin Books

5. How Money Got Free? Brian Patrick Eha

In order to understand some of the bold claims made in this Blockchain and Bitcoin book, it is important to understand where we are coming from and where we are going. Brian Patrick Eha details the ascent of the financial banks, the intervention of the government, their eventual compromise, the Silicon Valley cabals, and the whole scheme behind making money.

6. Attack of the 50 Foot Blockchain by David Gerard

David Gerard, in this book, creates a form of balance. If you’re a crypto enthusiast who probably believes that Blockchain will take over the world and Bitcoin will be the new religion, this book is for you. It helps you reevaluate your stance. The third chapter is perhaps the climax as the author delineates all of the logomachy presented by any proponent of Bitcoin and delivers his opinion on each. This is one of the best books on Bitcoin and Blockchain which doesn’t necessarily support the technology.

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7. Bitcoin and Cryptocurrency Technologies by Arvind Narayana

What really is cryptography? Do you even understand what it is about? Well, a professor at Princeton University, Arvind Narayana, along with four other people took time to explain what it is all about. The book is extremely detailed and it will require you to have a lot of notes to review. There are also diagrams in the book for a more comprehensive understanding on what it entails.

8. Bitcoin- The Future of Money? by Dominic Frisby

Dominic Frisby, in this book, addresses the issues we all had in mind. Are your investments going to be worth millions in the nearest future or are you just chasing shadows? The inherent limitations of cryptocurrency- the lack of government’s regulation, the atrocities, etc. are well discussed. In fact, the author uses anecdotes to further prove his point, like the time he used Bitcoins to purchase cannabis a while back.

9. The Business Blockchain by William Mougayar

Have you heard about Blockchain 2.0? This is what crypto assets entail and if you are considering a career in this line, you might want to check it out. William Mougayar gives an in depth analysis into the steps you are to take if you want to become a cryptopreneur. It is unarguably one of the best Blockchain books which thoroughly addresses the business part.

10. The Age of Cryptocurrency by Paul Vigna and Michael J. Casey

Two Wall Street Journal reporters, Paul Vigna and Michael J. Casey, came together to produce an explanation of what the world would be when digital money- cryptocurrency becomes the mainstream means of transaction. With a series of anecdotes and research work, you will come to appreciate how we are in the age of cryptocurrency.

Conclusion

These are, without a doubt, the best Blockchain books available to us right now. Other equally good books might be available, however, they won’t all make the cut. Take note of the key features to look out for before purchasing books on Blockchain and Bitcoin.

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For Bitcoin to Become a Revolution, it Needs its ‘Dot Com Crash’ Moment

Opinions
Whenever there is a crash, panic ensues from those who probably should not be involved in Bitcoin to begin with.
For Bitcoin to Become a Revolution, it Needs its ‘Dot Com Crash’ Moment
Contents

"1/In the dotcom era we watched a promising, but undeveloped, unregulated and open technology called “the internet” result in massive exuberance, fraud and an epic bull run, that was immediately followed by a complete collapse and loss of wealth." February 6, 2018 https://twitter.com/Jason/status/960775425113841664

This tweet sums up my thoughts precisely. Blockchain technology, cryptocurrency, digital tokens, even ICOs and their disruption of the VC market, these are all waves of new technology that have the power to change the way we exist on this planet.

However, Bitcoin and its affiliates, are in their embryonic stages, although quickly evolving, and while people get to grips with the technology behind them, there is this phase of early adoption that is giving a big pay off.

The issue is that people who are uninterested in the whole picture are honing in on the payoff, they are looking at Bitcoin with dollar signs in their eyes and ignoring everything else.

This is leading to some stupid decisions being made, and the shaping of the ecosystem is getting skewed towards these money grabbers. The foundation of the crypto community is starting to be built upon a massive and shaky base of speculative investors.

On the one hand, this has fueled the growth of the Bitcoin market, but the tower which has been built can come crashing down. And on the other hand, that crash could be the best thing for this technology.

Back the tech, not the currency

Now, I am not saying, like many other big banks and centralized systems that Blockchain is the answer and it should be separated from the digital tokens. What I am saying though is people who are entering the crypto community need to be appreciative of the technology and the potential it has to be a disruptive force.

Way back when the white paper was written, their foundations were there for a technology that could change the face of finance, the banking system and the hegemony that was held by centralized money systems.

That message has been diluted as not only the Bitcoin community pushed the digital coin away from its primary function, they have pushed it to be a store of value, which is a move motivated by greed.

Shake out the weak and damaging hands

There need to be a few big changes in Bitcoin for it to get back on track and to be able to match the Internet as a force for change going forward. One of those is that it needs to sort out its scaling issue, in order to move towards being a functional currency, but it also needs to shake off some of the deadweight.

The run up to it's all-time-high was epitomized by a wave of true mainstream adoption. The word Bitcoin was on the lips of cab drivers, hairdressers, doctors and garbage men alike; everyone wanted to know what this magical growing asset was all about.

However, it was less about educating themselves than finding out a way to double an investment in a few days. They bought in, with ease thanks to cryptocurrencies all-inclusive nature, but did not understand what they were buying into, moving more in a speculative direction.

A falling knife

When Bitcoin bucked recently, changing direction sharply in a downward spiral, those speculators were well shaken up, and a mass evacuation occurred which helped the knife fall further and faster.

However, this is not necessarily a bad thing. Those who screamed bubble as they exited sharply were never in it for the right reasons. Those who merely shrugged and rode the lightning, making no moves to exit are now the ones who remain and the ones that will build Bitcoin to be a force in the coming years.

Thank god for the Dot Com burst

It is funny to think that in the Dot Com bubble burst people were declaring this ‘Internet thing’ a scam and a fraud, and celebrating its demise and supposed death. However, it was the speculators and get-rich-quicksters that were merely making room for those who saw the promise.

Bitcoin has shook a lot of the first from its base, but it could still do with another big Dot Com level pop in order for it to grow its full potential.

 

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Thomas Hughes

The Crypto Market Is Going South. Ethereum Is No Exception

Christine Lagarde stated that central banks should “consider the possibility to issue digital currency”
The Crypto Market Is Going South. Ethereum Is No Exception

Christine Lagarde, the Managing Director at the International Monetary Fund, stated during a speech at the Singapore Fintech Festival (Nov. 14) that central banks should “consider the possibility to issue digital currency.” She also mentioned that despite being “not entirely convinced” of the benefits of cryptocurrencies, there may be a use for government-backed tokens.

These Central Bank Digital Currencies (CBDCs) would aid “financial inclusion,” “security and consumer protection,” and “privacy in payments.” Whether or not this will have an effect on the current crypto market remains to be seen; in the meantime, all major digital currencies are dropping, Ether included.

Charts at a Glance

Charts at a Glance

ETH/USD was trapped between two trend lines, but now it seems like a clear direction has been chosen, at least for the short term. The pair has dropped 8 percent during the last 7 days and broke below the bullish trend line, so the next destination is most likely the support zone around 190 – 192.

If the pair reaches the mentioned support zone, I expect to see a bounce for two separate reasons: the level acted as strong support last time it was touched, and the Relative Strength Index is already below its 70 level, indicating oversold. A return above the bearish trend line would invalidate this scenario.

Support zone: 192 - 190

Resistance zone: 205 and both trend lines

Most likely scenario: drop into support followed by a push higher

Alternative scenario: break above 205 without a touch of support

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