Will Bitcoin cost 28000 by 2020? Vinny Lingham bets 20000 that it won’t

Will Bitcoin cost $28,000 by 2020? Vinny Lingham bets $20,000 that it won't

Will Bitcoin cost $28,000 by 2020? Vinny Lingham bets $20,000 that it won't

  • Vinny Lingham and Ronnie Moas bet on Bitcoin price movement.

  • BTC/USD resumes the decline during Asian hours.

The co-founder & CEO of the US-based startup Civic Vinny Lingham accepted the call from Ronnie Moas, the founder of investment company Standpoint Research, and bet $20,000 that Bitcoin price won't exceed $28,000 before December 31, 2019.

Moas believes that the demand for Bitcoin will be growing amid limited supply, which will lead to a substantial price increase up to $28,000 in 2019 and potentially to $50,000 by the end of 2020. Meanwhile, Lingham says that companies will have to sell their coins to cover expenses as mining and other cryptocurrency related activities are not that profitable anymore.

Whoever wins the bet, $20,000 will go to Free Ross charity, a group that provides a legal assistance to Silk Road creator Ross Ulbricht.

Meanwhile, Bitcoin dropped to $6,440 in Asia after an initial attempt to recover above $6,500. The most popular coin is changing hands at $6,444 with the Relative Strength Index pointing to further declines. The initial support lies with $6,400 with SMA200, 1-hour located right under that level. If it is cleared, the downside may be extended towards $6,300 congestion zone.

 

Tanya Abrosimova Tanya Abrosimova

FXStreet | 04:07 GMT

Alan Zibluk Markethive Founding Member

BTCC TO SHUT DOWN MINING POOL FOLLOWING BUSINESS ADJUSTMENTS’

BTCC TO SHUT DOWN MINING POOL FOLLOWING ‘BUSINESS ADJUSTMENTS'

BTCC TO SHUT DOWN MINING POOL FOLLOWING ‘BUSINESS ADJUSTMENTS’

The turbulent journey of the Bitcoin mining sector continues this week as BTCCPool announces it will close “indefinitely” November 30.

 

BTCC PULLS OUT OF MINING

The pool, which constitutes the mining arm of Hong Kong-based exchange BTCC (formerly BTCChina), began operating in 2014, yet rarely competed with giants such as Bitmain’s Antpool.

A statement confirmed the closure November 6, with officials remaining coy over the exact impetus behind the decision.

A rough translation reads:

Today, we regret to announce that due to business adjustments, the BTCC pool will shut down all mining servers on November 15 and will cease operations indefinitely from November 30.

The “adjustments” involved are not mentioned but come at a time when Bitcoin mining is a headache in terms of profitability due to long-term price suppression.

At the same time, the closure appears not to be an entirely permanent move, with BTCC hinting a return to the market could occur in future.

The statement concluded:

We firmly believe that the cryptoassets and the Blockchain industry represented by Bitcoin will continue to develop and improve.

[…] We will see you again!

MONEY STAYS IN MINING

In June, BTCC had stuck provisional plans to sell a 49 percent stake of BTCCPool to Value Convergence Holdings in a deal which would have raised around $18 million. No news has surfaced since the plans went public, and the status of the handover remains unknown.

Bitcoin mining’s household names meanwhile continue to see mixed fortunes.

While Bitmain grapples with mixed publicity over its financial health, BitFury today released details of a giant $80 million funding round from a basket of Asian and European investors.

Executive Vice President George Kikvadze said:

This private placement will take our corporate governance to the next level, broaden our financial strategic options, and ideally position us for our next phase of growth as the market matures […]

Like Bitmain, the company is rumored to be planning an IPO.

 

Wilma WooWILMA WOO | NOV 07, 2018 | 00:10

Alan Zibluk Markethive Founding Member

Bitcoin weekly price analysis 6112018

 

Bitcoin weekly price analysis – 6.11.2018

After dropping down to a low of $6,242 last week, bitcoin price started rising regularly hitting a week high of $6,529. Even though technical analysis of last week’s charts denoted that we are likely to witness a bearish market during most of the week’s trading sessions, a new upwards wave began manifesting itself last Wednesday following a short bearish move. The BTCUSD pair seems to be moving within a new rising upwards channel, which will not face significant resistance except around the $6,606 price level.

Bitcoin price and the news:

Last week witnessed circulation of news around a letter reporting supposed solvency of Tether (USDT), as a result to Tether’s new bank headquartered in the Bahamas (Deltec). Tether’s problems and allegations concerning Bitfinex’s insolvency have been raising significant concerns among the crypto community during the past few weeks.

Bitcoin traders are still waiting for serious decisions to come out from the SEC during the next few weeks. The SEC is expected to soon decide whether or not to approve Bitcoin ETFs. Also, the SEC is on its way to regulate ICOs with emphasis on three key elements of this blockchain based crowd funding process – issuers of ICOs, investors of unregistered ICOs, and exchanges facilitating trading of unregistered ICOs.

The retail banking giant JP Morgan is about to release its very own blockchain, which is expected to offer its huge client base a myriad of trading opportunities.

HTC, the Taiwanese mobile phone manufacturer, is launching its first blockchain-friendly smartphone, which is expected to feature compartmentalized storage of various forms of blockchain based data. The highly anticipated mobile phone will be available for purchase via cryptocurrencies only.

New rising upwards channel on the 4 hour BTCUSD chart:

Let’s examine the 4 hour BTCUSD chart from Bitfinex, while plotting the Williams Alligator’s SMAs, and the MACD indicator as shown on the below chart. We can note the following:

– Last week started with the market’s bears having the upper hand, managing to pull price downwards from around $6,512 all the way down to a week low of $6,242 on Wednesday. Thereafter, the market’s bulls gained control pushing the price steadily upwards to a week high of $6,529 on Sunday.

– Since last Wednesday, bitcoin price began recording higher lows during most of the trading sessions. Also, higher highs can be spotted on around 50% of the candlesticks on the 4 hour chart. The rising trend line formed by the highs, as well as the rising trend line formed by the lows formed a “rising upwards channel” (the two parallel green trend lines on the above chart). Bitcoin price has been moving throughout this new rising channel since last Wednesday, and is likely to continue rising throughout this channel until facing resistance around the $6,606 price level, which represents the 76.4% Fibonacci retracement between the high at $7,788 and the low at $6,242.

– The SMAs of the Williams Alligator have re-aligned themselves to exhibit a bullish alignment as bitcoin price began rising throughout the new rising channel. On Sunday, the green SMA (lips) moved on top of the red SMA (teeth), which rose above the blue SMA (jaw). As such, it is said that the alligator’s mouth has opened and will start eating, so we can expect to see a stronger bullish wave during the upcoming few days.

– The aforementioned bullish signals are confirmed by the MACD which is also exhibiting a bullish signal. The blue MACD line is on top of the red signal line and both are sloping in an upwards direction in the positive territory.

Ichimoku Cloud still red on the 1 day BTCUSD chart:

Now, let’s examine the 1 day BTCUSD chart from Bitfinex while plotting the Ichimoku Cloud, the RSI, and MACD indicator as shown on the below chart. We can note the following:

– The bullish signals we spotted on the 4 hour chart are not confirmed by analyzing the 1 day chart, as the Ichimoku Cloud is reddish (bearish), and its Conversion line (blue) has moved below the Base line (red). Also, candlesticks are below the cloud.

– The RSI level is near 50, which is more or less indecisive. The MACD indicator is in the negative territory and the MACD line is below the signal line.

Conclusion:

After recording a low of $6,242, a new bullish wave started building up last week pushing bitcoin price to a week high of $6,529. As bitcoin price is now moving throughout a new rising upwards channel, we can expect it to continue rising during the upcoming week towards the resistance around $6,606, even though we cannot confirm the bullish move by analyzing the 1 day BTCUSD chart.

 

POSTED BY: TAMER SAMEEH NOVEMBER 6, 2018

Bitcoin weekly price analysis – 6.11.2018

Alan Zibluk Markethive Founding Member

BTCUSD Price Analysis – Fate of Nine Bitcoin ETFs to Be Decided After Today

BTC/USD Price Analysis – Fate of Nine Bitcoin ETFs to Be Decided After Today

Encouragingly, the market is bullish and Bitcoin is up printing a three-bar reversal pattern as participants reject lower lows. We expect the recovery to continue this week as the SEC is set to announce the fate of nine Bitcoin ETF as the commenting period concludes today. Should these proposals be compliant with SEC stringent requirements then BTC/USD price could erupt above $7,200 closing the year on a high.

Latest Bitcoin News

Endorsement by the US SEC is always a boost for any crypto asset. Any unfavorable assessment or comment in a bad light can quickly mean the asset is a security. That’s undesirable and extra work for investors who must file tax returns whenever they make crypto transactions. That is extra work that prevent direct investment. The question in everybody’s mind right now is news about Bitcoin ETF whose comment date ends today.

Up until now the SEC has been adamant, denying the roll out of nine Bitcoin ETF from Direxion, Proshares and GraniteShares. Apparently, we have come to learn that the rejection was because of the SEC commissioners delegating these tasks to their staff. They did recall and ordered comments from interest parties to be made by Nov 5-which is today. From there on, we expect the SEC to make their decision but the exact time remain tentative.

Earlier, it was widely reported that the SEC would qualify VanEx SolidX Bitcoin ETF after a “successful” meeting between representatives of the VanEx, CBoE and some SEC commissioners. Hopefully, they make a favorable decision and allow firms that meet their stringent listing requirements a go-ahead injecting the market with the much-needed momentum.

BTC/USD Price Analysis

The recovery of the BTC/USD is an indication of a bottoming crypto market. Considering the +75 percent drop this year, odds are we may see a recovery this quarter. Aside from technical factors, the simmering trade war between the US and China could trigger capital flights from the stock market to Bitcoin which is borderless. As such, last week’s 0.2 percent gain could increase as prices bounce off from the $6,000 support line and building on the bull pin bar of last week. In line with our last BTC/USD price analysis, it would be ideal if prices thrust past the resistance trend line connecting the last nine months highs and print above $7,000–$7,200 buy trigger line. Thereafter, first targets would be $8,500 and later $10,000.

Technically, BTC/USD pair is trading within a bear break out pattern following Oct 29 price action. But, after yesterday’s rapid gains, we now have a three-bar, bull reversal pattern. Besides, our last BTC/USD plan will most likely be null after today. Regardless of the greens, we recommend patience until we see gains above $7,000 resistance level. Then, the trend would be clear and price action would be trading above a key resistance level at the back of high reversal volume.

 

DALMAS NGETICH | NOVEMBER 5, 2018 | 2:00 AM

Alan Zibluk Markethive Founding Member

Currently Bitcoin is gaining strength Report by OneAlpha says

“Currently, Bitcoin is gaining strength,” Report by OneAlpha says

“Currently, Bitcoin is gaining strength,” Report by OneAlpha says

"The December 2017 and January 2018 boom and bust had a cleansing effect on the ecosystem"

A report published in October by OneAlpha revealed that Bitcoin’s market was gaining strength after the 2018 correction. The stability of the last weeks is a sign of maturity of the markets that seem to have passed the hype stages -both bullish and bearish- of the previous months.

OneAlpha is an Israeli firm part of First Digital Assets Group; a fintech that defines itself as “the leading digital assets group in Europe.”

OneAlpha Report: Bearish Trend Is A Good Thing For The Market

According to the report, the current bearish trend was necessary. This decline in the markets served as a “relief” and generated a “cleansing effect” on the ecosystem.

 

The facts seem to prove the OneAlpha team right. After the abnormal bullish streak of 2017, many people entered the market in an abrupt and immature way. The 2018 correction seems to have given Bitcoin back the stability needed to gain more credibility as a “market” instead of its previous “bubble” image:

“From our perspective, the prolonged bear market provided the sector with a much-needed relief, lowering valuations to a more sensible level. Despite the considerable correction, a large portion of the value represents the future potential of the network rather than its current one. The December 2017 and January 2018 boom and bust had a cleansing effect on the ecosystem, removing many of the speculators and leaving mainly real investors, operators, and builders in the market. This is what was necessary to move forward and build a successful ecosystem.”

Bitcoin: Best Currency / Ethereum: Best Platform

The report is clear in dividing the cryptocurrency market into different branches. The first one is composed of well-known cryptocurrencies. For OneAlpha, 2018 has been a year during which Bitcoin has strengthened, recovering part of the influence taken away by other altcoins:

“Currently, Bitcoin is gaining strength and captures more than half of the total crypto market cap. Ethereum captures 10% of the total market cap. There are currently more than 2,000 traded crypto assets and more than 1,000 unique tokens worth around $14 billion. 87% of the tokens are Ethereum based, with NEO and Waves capturing around 2.4% each …

Of this valuation, it is noticeable that Bitcoin captures about 71% of all currencies and Ether 54% of all platforms.”

An Optimistic View Of The Future

The Report also highlights the importance that ICOs have had in increasing interaction with the public (despite cases of fraud and constant failures). It also points out the increase in institutional investments and blockchain technology patents registered in China and the United States.

The report gives a fairly positive view of the situation considering the facts from a broad perspective. Market behavior in 2018 is, according to analysts, a natural and necessary reaction to the craziness of 2017:

“We are experiencing a phase of sobriety and maturation – a decline in retail investment and a more careful, responsible approach from institutional investors on one hand and regulators around the world on the other. A long bear market might be the ideal climate to let the dust settle and examine, both internally and externally, the true possibilities that lay within the cryptocurrency and blockchain ecosystem. Ultimately, the goal is to take a step further and bridge the gap between consumers, traditional investors, and blockchain technology.”

 

Jose Antonio Lanz by Jose Antonio Lanz November 4, 2018 in Bitcoin News 0

Alan Zibluk Markethive Founding Member

Bitcoin BTC Aiming for 7000 Next?

Bitcoin (BTC)  Aiming for $7,000 Next?

Bitcoin (BTC) Aiming for $7,000 Next?

Bitcoin Price Key Highlights

  • Bitcoin price is gaining traction on it bounce off the channel support on its 4-hour time frame.

  • A move to the next upside targets might be in the works and the Fibonacci extension tool marks these.

  • Technical indicators are hinting at weakening bullish momentum, though.

Bitcoin price looks ready to resume its climb and might aim for these upside targets marked by the Fib tool.
 

Technical Indicators Signals

The 100 SMA seems to be crossing below the longer-term 200 SMA to indicate that bearish pressure might return, but it could also be a delayed reaction to the latest slide. If the short-term MA is able to hold its head above the 200 SMA, it could reinforce the presence of bullish momentum.

Bitcoin price could aim for the 38.2% Fib extension from here as this lines up with the dynamic inflection points at the moving averages. The 50% level lines up with the mid-channel area of interest around $6,700 and the 78.6% level lines up with the top of the channel at $6,900. The $7,000 mark might also serve as psychological resistance just before the full extension at $7,075.

Stochastic is heading north so bitcoin price might follow suit while buyers are in control. However, the oscillator is nearing overbought levels to signal exhaustion and a possible return in bearish pressure. RSI has more room to go before hitting overdone levels, which means that buyers could stay in the game for a bit longer.

Bitcoin price seems to be rebounding from a rough start this week as a brand-new month is setting in. This typically brings more optimism and reopening of positions after booking profits at the end of the month, which also coincides with futures settlement.

Besides, the ICE Bakkt bitcoin futures are rumored to be in the works and might usher in stronger volumes and increased activity this November.

 

SARAH JENN | NOVEMBER 2, 2018 | 1:33 AM

Alan Zibluk Markethive Founding Member

How to Avoid Misusing the Bible

Go deeper in your walk with the Lord

Written by Dan Lee on 30/10/2018

Series: Weekly Devotional

Tags: BibleReadingVerseStudying


Do your best to present yourself to God as one approved, a worker who has no need to be ashamed, rightly handling the word of truth.

2 Timothy 2:15

Today, we start a two-part devotional on how to avoid misusing the Bible. But first, let’s start with a story about some blind men who encountered an elephant. One of the blind men wrapped his arms around the elephant’s leg and said, “An elephant is like a tree!” Another touched the elephant’s trunk and declared, “No, it’s like a large snake.” They touched the ear or the tail and said, “a fan” or, “a rope” – and so on. Each one came up with a different and incomplete conclusion about how the elephant looked like. 

It’s the same when we interpret the Bible. When we quote Bible verses without considering what the rest of the Bible says, we are just as foolish as those blind men. If we don’t consider verses in their context – at least the surrounding paragraph or chapter, we risk coming to completely wrong conclusions about what God’s word says. 

1. Be careful of taking the Bible out of context

That’s why Paul warns Timothy – and all who believe in Jesus and study His word – to “rightly handle the word of truth.”

Here are a couple verses that are often taken misused.

“By his wounds, you have been healed.” (1 Peter 2:24

Some people believe that Christians can claim physical healing because of this verse. But, if you read 1 Peter 2:24 in full, it reads, “He himself bore our sins in his body on the tree, that we might die to sin and live to righteousness. By his wounds, you have been healed.” 

The first part of this verse tells us that it is our sins, our spiritual wounds, that have been healed by Jesus Christ. The verse refers to Isaiah 53:5:

“But he was pierced for our transgressions;
    he was crushed for our iniquities;
upon him was the chastisement that brought us peace,
    and with his wounds, we are healed.”

This verse refers to our “transgressions” and “iniquities” – in other words, our sins. There are seven other references in Isaiah 53 to sin, guilt, or transgression, but physical healing is never mentioned in the chapter. 

So the next time you read, “By his wounds you have been healed,” thank the Lord that your most deadly wound – your sin and resulting separation from God – HAS been healed, for all eternity. But don’t use it to claim physical healing for yourself or others.

2. Meditate on the Word and apply it to your life 

Now, let’s look at Matthew 7:1, where it says, “Judge not, that you be not judged.”

Even people who don’t believe in Jesus love to quote this verse! They, and sadly many Christians, think it means we should leave others alone and let them do whatever sinful act they want.

But if you continue reading, you find out that the problem is not with pointing out the faults of others. It is looking at their faults without acknowledging our own sin. 

Verse two says, “For with the judgment you pronounce you will be judged, and with the measure you use it will be measured to you.” and it continues to verse three by saying, “ Why do you see the speck that is in your brother's eye, but do not notice the log that is in your own eye?” (Matthew 7:2-3

Sadly, we tend to see the sins of others as huge, and our own as tiny (or not to see them at all). Jesus is saying, in effect, “Look in the mirror – look into your own heart and deal with the wickedness there, before you stand in judgment of someone else!”

Several Bible passages instruct us, to help our Christian brothers and sisters by gently pointing out where they are going wrong, especially in matters of serious sin. Take these verses as an example:

“But exhort one another every day, as long as it is called ‘today,’ that none of you may be hardened by the deceitfulness of sin.” (Hebrews 3:13)

“My brothers, if anyone among you wanders from the truth and someone brings him back, let him know that whoever brings back a sinner from his wandering will save his soul from death and will cover a multitude of sins.” (James 5:19-20)

In conclusion, don’t just look at fragments of God’s holy Word. Look at ALL of it. Commit yourself to read the Bible, one book at a time. Don’t build your whole Christian walk around one or two isolated verses. Strive to find the meaning of every verse in the context of the paragraph or chapter around it. If you do this in the power and enlightenment of the Holy Spirit, you’ll be well on the way to becoming “. . . a worker who has no need to be ashamed, rightly handling the word of truth.” (2 Timothy 2: 15


Pray this week:

Lord, I ask you to give me understanding and wisdom as I study your Word so that I follow your instruction and not mine. Amen. 


Is there anything in the Bible you have a difficult time understanding? Talk to a caring Christian friend! 

Alan Zibluk Markethive Founding Member

Blockchain revolution is on the way as Bitcoin slips back under 6300

Blockchain revolution is on the way as Bitcoin slips back under $6,300

Blockchain revolution is on the way as Bitcoin slips back under $6,300

  • Bitcoin dips under $6,300 after a short recovery.

  • Adam Jiwan from Spring Labs touts blockchain technology.

Bitcoin is changing hands at $6,299, marginally higher since this time on Wednesday. However, the shrinking volatility and low trading activity make further upside unlikely.

On the intraday chart, BTC/USD returned to the area under $6,300 after Wednesday's recovery attempt. The stopped short of the lower line of the previous consolidation channel and SMA50 (4-hour). The support lies with $6,200. Once it is broken, the sell-off may gain traction with the next bullish aim at $6,100 and the recent low of $6,060.

The Relative Strength Index (RSI) recovered from oversold territory and settled at a neutral level, which means that more consolidation might be in store for us in the short-term.

Meanwhile, experts believe that the technology behind the cryptocurrency is likely to attract financial and intellectual capital, creating a technological revolution.“Regpic

ardless of how one feels about cryptocurrencies, bitcoin has ushered in a technological revolution that will have profound implications for how information is shared, consumed, and protected,” Adam Jiwan, CEO and co-founder of Spring Labs, explains.

Spring Labs is creating a blockchain-based ecosystem that will allow exchanging credit and identity information in a secure way

“I’m a big believer in the unstoppable nature of technological revolutions, and we’re only ten years into the development of distributed ledger technology. Blockchain will be ubiquitous, and the world will have to adjust. The only question is, “How soon?”

 

 

Tanya Abrosimova Tanya Abrosimova

FXStreet 23 minutes ago

Alan Zibluk Markethive Founding Member