Share it with your friends and don't forget to subscribe!
Сheck daily our Instagram: cryptosharq,
Share it with your friends and don't forget to subscribe!
Сheck daily our Instagram: cryptosharq,
Bitcoin Cash came to an end on Nov. 15 when it split into Bitcoin Cash ABC and Bitcoin Cash SV, yet CoinMarketCap still shows BCH as the fourth largest cryptocurrency by market cap. The reason for this is that some exchanges have declared Bitcoin Cash ABC the “winner” of the fork battle and are now listing it under the ticker BCH.
In a recent statement, Huobi (the third largest exchange by volume) announced: “Bitcoin Cash ABC to Be Re-Designated BCH and Trading Announcement of Bitcoin SV (BSV). Huobi Global has confirmed that the ABC version of Bitcoin Cash (BCH) will be retained for the designation of BCH.”
A similar decision has been made by other major exchanges such as Kraken, Bitstamp, and Coinbase, so we will probably keep seeing the BCH ticker on CoinMarketCap, but its price will be soon adjusted.
Early in its “lifetime” BCHABC established support at 230, which at the time was its lowest price against Tether. Now that low has been broken, the pair returned above the level almost immediately, confirmed support, and seems to be preparing for a bounce higher.
The dip below 230 took the Relative Strength Index below its 30 level, marking oversold conditions and thus increasing the chances of a bullish move that will have 250 as immediate target. This is not so much a technical level but rather a psychological one; the same is true for all full levels (numbers such as 250, 300, 350). However, keep in mind that the BCH market is very young, not fully developed and ranging from a few day’s perspective.
Support zone: 230
Resistance zone: 250 followed by 298 - 300
Most likely scenario: bounce higher, but choppy overall
Alternate scenario: new break of 230 and move into 200 area
Darryn Pollock, Alexander Goborov
Binance has been in the news for sometime now with its listing acceptance for a number of smaller and lesser known coins, some of which are now being donated to charity. They have been happy to accept all comers, but what is more surprising to see is that some of these smaller coins are making a big splash in trading numbers.
A look at the top 10 trading pairs by number of transactions on Binance shows the usual players at the top; however, one might see it strange that Tether tops the trading numbers:
BTC (Bitcoin) / USDT (Tether) has by far the biggest trading numbers with ETH (Ethereum) / BTC and ETH / USDT following. But not far down that top 10 list, there are appearances for coins like Red Pulse Phoenix (PHX) and Airswap (AST) which are closer to 200 than 100 on the market cap ranking.
These more obscure coins are being traded for BTC, which is understandable, but it is interesting to note just how many transactions are being made for such obscure coins.
Tether has a long and sordid history with many worrying about its legitimacy as a stablecoin, especially after it lost its pegging earlier this month. Be that as it may, it has long had large transaction volumes, and numbers, and this is echoed on Binance.
The indication is that many may feel that it is worthwhile putting their cryptocurrency into a stable coin to avoid the volatility of the bearish Bitcoin market while still holding onto cryptocurrencies.
In second place is ETH / BTC showing the two top coins by market cap are heavily traded, but there is also evidence further down the list of Ethereum being traded for the more supposedly stable Tether. Ripple (XRP) makes an expected appearance in a pair with Bitcoin at number four, which is not surprising.
Where things do get interesting is the number of trades from PHX / BTC, more than BNB (Binance Coin) / BTC, as well as AST / BTC and GVT (Genesis Vision) / BTC. Three of these coins, baring BNB, are out of the top 100 coins; however, they are being traded at a large rate for Bitcoin regardless.
On another well-known crypto-trading platform, Bitfinex, we see a different situation with many traders opting for crypto to fiat currency exchanges:
The first four leading pairs on the list are all made up of crypto to fiat (US dollar) exchange pairs with Bitcoin, Ethereum, Ripple, and EOS respectively, all of whom are also crypto leaders by market cap, in that order.
Further down the list we see crypto pairs, ETH / BTC and XRP / BTC, followed by the rest, among them trading pairs that include Bitcoin Cash (BCH / USD, BCH / BTC) and Litecoin (LTC / USD). Interestingly, pairing with the US dollar aside, EOS does not comprise a separate pair with another cryptocurrency on Bitfinex; moreover, EOS is left out of Binance’s Top 10 list altogether, which could, in fact, be interpreted as a positive sign of the coin’s relative stability at present.
Here is the situation midweek. Stay tuned for more.
Stellar (XLM) as most of the major cryptocurrencies has a rough year in 2018. From the high price of $0.9084 on Jan. 1, 2018 the current price is at $0,1176 as of Dec. 8, 2018. Still with all this decline it is number four on the Top 100 cryptocurrencies by market capitalization on CoinMarketCap, with a market capitalization of $2.669.311.986, only lower than the market capitalization of Bitcoin, XRP and Ethereum.
Some of the topics discussed in this article will be Stellar price prediction for December. We will mention XLM prediction end year and Stellar price today for the remaining of December 2018. Is a bottom-fishing strategy now for Stellar a dangerous investing decision?
These are some of XLM price prediction references, Stellar lumen price prediction estimates for December 2018. This is not an investment advice as always, just for informational purposes on Stellar price prediction possible scenarios.
· TradingBeasts.com forecasts a price of $0.20 by the beginning of January 2019. The expected maximum price is $0.25, minimum price $0.17. The Stellar price prediction for the end of the month is $0.20.
· Nine panelists on Finder make a very bullish or prediction that on Jan. 1, 2019 the price will be $0.28, a gain of 125% compared to the current price of $0.11.
These nine panelists are the following experts, being traders, founders, CEOs of important cryptocurrency market business spectrum, such as Evercoin cryptocurrency exchange:
· Craig Cobb
· Fred Schebesta
· Miko Matsumura
· Alisa Gus
· Desmond Marshall
· Joerg Molt
· Toby Allen
· Muneeb Khan
· Sarah Bergstrand
CryptoRecorder.com makes another bullish Stellar coin price prediction for December.
“The fact that Stellar network will be hosting “the first stable coin” issued by the tech giant IBM, which is also one of the oldest partnerships that Stellar has acquired since the time it was first launched as an ICO, is nearly enough to provide the needed boost for XLM in the market so it would be able to get closer to its record price of 0.75$ also breaking the resistance of 0.80$ and going up for reaching 1$ by the end of the current year.”
If this optimistic scenario becomes real, then this XLM price prediction 2018 will result in 629% increase in price compared to the current price of $0.11.
The pros and cons of Stellar coin will weigh on its future price. Making a Stellar lumens prediction is hard. Any XLM prediction either short-term on in the long-term must take into consideration these business prospects.
Back to predictions for the end of 2018 it is interesting to mention the following Stellar coin forecast range from eight different sources:
1. Economic Forecast Agency Prediction:
The price will about $0.43 at the end of this year 2018, not reach $1.
2. Right Trader:
Again, the Stellar lumens forecast 2018 is that price will not reach the $1 target. No specific target was given, but an optimistic XLM forecast was that price should move higher.
Price will not reach $1 by the end of December 2018, but rather reach the price of $0.448 in September 2019. Eventually during 2021 the XLM forecast is that price will reach the $1.
A very optimistic estimate that by end of 2018 the Stellar coin value will be between $2 and $3.
Not one but three Stellar price predictions, $2, $12 and $30 in 2018.
Their Stellar lumens forecast 2018 is that it will reach 0.00001571 BTC in the short-term. A long-term XLM forecast is that its price will reach the 0.00003567 BTC mark in the long-term.
Their Stellar cryptocurrency prediction is very optimistic, they have a target of $0.5 at the end of December 2018 and beginning of 2019.
8. Oracle Times:
Their Stellar lumens forecast is that a price of $1 would be achieved in January 2018. They have not provided a more recent price update about Stellar lumens price prediction 2018.
Longforecast.com makes an interesting str price prediction for 2019, with a large range for the XLM coin price from a price of $0.06 in January 2019 to a much lower price of $0.03 in December 2019.Their lumen price prediction is very pessimistic for 2019.Cryptoinfobase.com has XLM predictions that are based on scenarios. The best-case scenario is that in early 2019 price will reach $2, and later during the year $3. The lumen coin price according to the worst-case scenario will reach $0.33 in early 2019 and will rise further to $0.38.
Our price prediction for the end of 2018 is based on the weekly chart and will not move higher than $0.31 or fall below $0.13. The prolonged selloff may turn to a consolidation and a moderate bounce towards $0.17 or $0.20 is probable.
Our technical analysis forecast for Stellar lumens is based on the daily chart. The prediction as we mentioned above by several companies was in general an optimistic one, some of them in favor of a Stellar lumens price prediction 2020 at about $1. Our price prediction is only for the very near short-term, the end of December 2018. The daily chart shows the following ones:
· The daily chart does not seem optimistic at all. The price has fell to $0.11 and below it there is no obvious level of support.
· Stochastic indicator (14,3,3) are in oversold level but still there is no any sign of a bullish crossover.
· MACD indicator is negative, trending down, but there is a positive divergence formed in its histogram. Price of Stellar coin has moved down, but the MACD histogram is diminishing, a potential sign that the recent intense selloff may pause, and a consolidation phase could follow soon.
· Momentum indicator (10 periods) is showing a positive divergence as well. It has moved up while the price of Stellar coin has moved down.
· There is a strong trend, a dominant downtrend supported by the readings of the ADX/DMI indicator. The ADX line has a reading of 40.63, with readings above the 25-level indicating a strong trend. The DI- line, with red color is at 33.70, and is above the DI+ line, blue color with a reading of 10.56. It is simple, but still a visual representation that the dominant trend is a downtrend.
· The 20-period and 50-period exponential moving averages are at $0.1720 and $0.2022 respectively. Both are trending down, indicative of a strong downtrend.
· There is strong support, now resistance at $0.17, $0.18 and $0.20 price levels. These former support levels are our target for a potential bounce for the remaining month of December 2018.
· We do not expect any sustained trend change for the remaining of 2018, and this bounce if materialized should be only a short-term consolidation phase. For the trend to change from downward to upward without any catalysts such as business news, and business applications, this scenario seems highly unlikely for now.
· A key level to watch is the $0.20 price level, that coincides with the current daily 50-period exponential moving average. If price closes for several days above this price level, then a price trend reversal may be at its early stages. This price level was tested many times and there was a consolidation zone which when broke the price fell to new lows in 2018. Above it some target levels are $0.22 and $0.24.
The price prediction for the remaining of 2018 shows that a bottom is not yet formed. However, a possible bounce which should be a moderate one is not unlikely. The major cryptocurrencies are under severe selling pressure, a trend that lasted all 2018, and continued in November 2018.
Our prediction as mentioned is not an investment advice. It is just about probabilities and risk. Our technical analysis supports a moderate price bounce towards $0.17 or $0.20.
On Friday, Nov. 2, 2018, the US dollar pared losses on surprising the US nonfarm payroll data. The US Unemployment Rate for the month of October 2018 actual figure was 3.7% vs. 3.7% forecast, and the USD Change in Nonfarm Payrolls actual figure was 250K vs. 200K forecast.
These strong numbers pointing a solid growth in the US labor market will be the focus for the US Dollar trend this week as we are approaching the midterm elections and most importantly the FOMC Rate Decision on Thursday, Nov. 8, 2018. This week, there are three monetary policy decisions from the Fed, the Reserve Bank of Australia, and the Reserve Bank of New Zealand, all of them being key economic events.
These are the main forecasts for EUR/USD, GBP/USD, and USD/JPY this week.
Weekly Pivot Points for the pair are S1 1.1307, Pivot 1.1382 and R1 1.1461. As the pair is trading under its 20-period and 50-period EMA daily moving averages, there should be a range trading between 1.1450 and 1.1300, favoring the downside.
British Pound strengthened the previous week over favorable news regarding Brexit. Is it likely to continue the bullish momentum in the coming week?
Weekly Support & Resistance Levels:
Key Trading Level: 1.2899
We estimate that the recent move was a result of positive sentiment over Brexit news; no fundamental event to support it and profit taking should result in a trading range between 1.30 and 1.28 favoring the downside. On Friday, Nov. 9, 2018, the GDP Growth Rate for the third quarter is a key economic event with expectations for an increase for the yearly figure at 1.5% vs. 1.2% previous figure and 0.6% vs. 0.4% previous figure for the quarter.
Weekly Support & Resistance Levels
Key Trading Level: 0.708
We anticipate no change to be made at the latest Reserve Bank of Australia monetary policy decision on Tuesday, Nov. 6, 2018, keeping the key interest rate unchanged at 1.50%. A trading range of 0.72–0.70 should hold, favoring the downside as the pair is trading below its 20-period and 50-period EMA daily moving averages.
Keep an eye out for the midterm elections, an interest rate decision from the Fed, and earnings from big names like Disney and Marriott.
On Thursday, Nov. 1, 2018, Apple (NASDAQ: AAPL) released its earnings for its fiscal fourth quarter, and these were the actual vs. forecasts:
Earnings: $2.91 per share vs. $2.78, forecast by Refinitiv consensus estimates
Revenue: $62.9 bln vs. $61.57 bln, forecast by Refinitiv consensus estimates
iPhone sales: 46.89 mln vs. 47.5 mln, forecast by FactSet and StreetAccount estimates
iPhone average selling price (ASP): $793 vs. $750.78, forecast by FactSet and StreetAccount estimates
Despite a beat on both earnings and revenues, shares of Apple fell more than seven percent — falling below its historic $1 trillion market cap following the release closing at $207.48 on Friday, Nov. 2, 2018.
Although the stock is now trading below its 20-period and 50-period EMA daily averages, a price near the $200 psychological level should provide a bounce towards the recent $233.47 52-week high price a buying opportunity.
The cryptocurrency community has generally reacted with optimism to Google’s ban of digital currency and ICO ads. But how can this be? A quick perusal of mainstream media outlets makes the situation look dire for Bitcoin, with headlines such as:
CNBC: Bitcoin briefly falls below $8000 after Google says it will ban
Investopedia: Bitcoin price spirals toward $8000 after Google bans
Bloomberg: Bitcoin drops to monthly low after Google bans crypto advertisements
Reuters: Google bans cryptocurrency advertisement, Bitcoin price slumps
These headlines are as amusing as they are inaccurate. For one, mainstream news outlets have no understanding of the ebb and flow of Bitcoin’s market. They assume that every rise and every fall must have a clearly explainable reason, namely, whatever the day’s biggest headline was.
Several experts in the cryptocurrency community have given CryptoComes their opinion on the Google ban, and most of them are cautiously optimistic:
Christopher Slaughter, Co-Founder and CEO of Samsa, writes:
“In the short term, this may benefit the crypto community, which is overflowing with fraud and scams. Longer term, it would be good to have all channels available. Hopefully regulation and self regulation can make it safe and in Google/Facebook’s interest to offer crypto ads in the future.”
Craig Sproule, Crowd Machine Founder and CEO, agrees:
"This decision can benefit the crypto community in the long-run amidst the hype, current regulatory climate and the mainstream perception of the community given the pervasive amount of scams we're seeing. [There are] bad actors out there taking advantage of the excitement.”
Daniel Duarte, CTO of Auctus, is concerned about the ease with which scammers can target novices in the community:
"It's easy to set up a cryptocurrency wallet, create a fake website, publish the wallet's public address and collect money from people. Since Google can't analyze on a case-by-case basis and filter the scams, we believe it's better to ban them all. This will not hurt the crypto community, and ultimately is a good thing for less experienced investors.
CryptoComes published an editorial yesterday, skewering Google for their extreme overreaction. Rather than making even the slightest effort to filter out scam ads, the company just banned everything. If they did that with all advertisements, they’d be out of business.
Trey Ditto, CEO of Ditto, agrees:
“Today’s decision to ban ads on Google feels like they’re throwing the baby out with the bath water. We use Facebook and Google to educate potential investors and users about a range of topics and opportunities. I worry this punishes the good actors in this fast-growing space and will thus hurt the consumers and investors who are looking for information to make smart crypto investment decisions.”
Users on reddit have pointed out that since Bitcoin doesn’t have a marketing department, Google’s ban of crypto advertisements has no bearing on the currency at all. Rather, it hurts many ICO-funded projects and some altcoins that engage in advertising. However, with thousands of ICOs in the past year, and hundreds of new altcoins having emerged in that period of time, scams likely abound. Anything that can starve scammers of victims is generally welcomed, since the ban does little harm to Bitcoin in the long run.