Bitcoin update – BTC is ready to finish the first green month in more than half a year

Bitcoin update - BTC is ready to finish the first green month in more than half a year

Bitcoin update – BTC is ready to finish the first green month in more than half a year

  • Bitcoin is still rangebound, though the monthly momentum is positive.

  • In the long run, we need to see a move above $5,000 to claim that the bear trend is over.

 

February proved to be the most successful month in the recent six months. The digital asset No.1 has been losing ground since August 2018, which is the most prolonged period of consecutive red months in the history of the asset. However, now BTC is 7% higher than at the beginning of February. While it is still too early to claim the reversal, this development might be interpreted as a positive signal and may eventually translate into a sustainable recovery above $4,000 in the coming weeks.

 

At the time of writing, BTC/USD is changing hands at $3,780, mostly unchanged on a day-over-day basis. Considering a large number of strong technical indicators clustered between the current price and $3,900 handle, the bulls will have a hard time making their way towards the above-said $4,000 resistance. However, once it is cleared, $5,000 will be back in focus.

 

According to Justin Sun, the founder of the 9th largest cryptocurrency TRON, Bitcoin will hardly be able to surpass this level in 2019. However, should it succeed, the upside momentum will gain traction, signaling that the year-long bear trend may be behind us.

 

On the downside, $3,600-$3,650 is the local support zone that will stop the sell-off for the time being. A push lower might increase the selling pressure with the next Ain at $3,300 and the lowest level of 2018 at $3,127.

 

BTC/USD, 1D chart

 

 

Tanya Abrosimova

FXStreet

Alan Zibluk Markethive Founding Member

Revealed by Nature

Have you ever experienced the love of an animal?

Written by GodLife on 19/01/2013
Series: Weekly Devotional
Tags: Creation, God, Love
"Ever since the world was created, people have seen the earth and sky. Through everything God made, they can clearly see His invisible qualities — His eternal power and divine nature."(Romans 1:20)

Have you ever experienced the love of an animal? I have pet cats, and like many pet owners or people who work with animals, I know that they can be very affectionate. When my cat loves me, I praise God for His wonderful Creation and for sharing His love with us through animals. Do you ever see God’s love because of interaction with nature? It is fun to praise Him when we can witness the amazing world He has made.

Loving Creator God
God made a marvelous universe, and He has a miraculous plan to redeem all Creation. The Apostle Paul preached to the wise people of Athens, “He is the God who made the world and everything in it” (Acts 17:24). Not only did He create everything, He loves it, too: “You care for people and animals alike, O Lord ”(Psalms 36:6). Jesus told us that “not a single sparrow can fall to the ground without your Father knowing it”(Matthew 10:29).

Our Reaction to His Creation
What are we to do with the beautiful and useful handiwork of His? God instructed His people to be in charge of the animals and to care for the earth. God said people should “Fill the earth and govern it. Reign over the fish in the sea, the birds in the sky, and all the animals that scurry along the ground” (Genesis 1:28). He told them, “You must not defile the land where you live”(Numbers 35:34) .St. Paul wrote, “Since God chose you to be the holy people He loves, you must clothe yourselves with tenderhearted mercy, kindness, humility, gentleness, and patience” (Colossians 3:12), which goes along with the Biblical wisdom that “The godly care for their animals” (Proverbs 12:10).

Reconciling All Creation
God has miracles in store for His people and His creation. We know it, and God lets His creation be aware, somehow, too – St. Paul wrote about how God’s “creation looks forward to the day when it will join God’s children in glorious freedom from death and decay”(Romans 8:21) . So we can rejoice that the Lord has chosen to let us live in and care for His wonderful world, and that through Jesus Christ, “God reconciled everything to Himself. He made peace with everything in heaven and on earth by means of Christ’s blood on the cross” (Colossians 1:20).

Pray this week:
To thank God for His amazing Creation and wonderful plan.

How can you be more aware of God's amazing creation throughout your day? Talk to someone about your favorite place in nature or your favorite animal.

Alan Zibluk Markethive Founding Member

Bitcoin outdoes Paypal’s transaction volume second year in a row

Bitcoin outdoes Paypal's transaction volume second year in a row

Bitcoin outdoes Paypal’s transaction volume second year in a row

  • Bitcoin managed a $1.3 Trillion annual transactional volume in 2018 while PayPal did $578.65 billion.

  • This was the second year in a row that Bitcoin outdid Paypal’s transaction volume.

For the second year in a row, Bitcoin managed to surpass PayPal’s in annual transactional volume. Within the given timeframe, PayPal recorded $578.65 billion worth of payment transactions, while Bitcoin did a staggering $1.3 Trillion. In 2017, Bitcoin had posted $543.52 billion more transactional volume than PayPal.
 

PayPal is expected to record higher transactional volume in the upcoming year after the World Bank estimated the remittance market to grow 3.7% to $715 billion in 2019. Bitcoin is also expected to enjoy a healthy 2019 after coming out of a year-long bear run. With the launch of regulated bitcoin derivate platforms like Bakkt and the SEC hopefully approving the first bitcoin-based exchange-traded fund (ETF), things look very positive.


 

Rajarshi Mitra Rajarshi Mitra

FXStreet

Alan Zibluk Markethive Founding Member

Knowing God Through His Creation

Everything God creates reveals something about Him

Written by Don Olson on 26/02/2019
Series: Weekly Devotional
Tags: Creation, Science, Bible, Joy, Wonder
For since the creation of the world God’s invisible qualities – his eternal power and divine nature – have been clearly seen, being understood from what has been made, so that men are without excuse.

Romans 1:20
God delights in His creation and in revealing Himself in and through it. Everything God creates reveals something about Him. That is why He told us about His creation in more than 200 verses and passages throughout the Bible.

 “For since the creation of the world God’s invisible qualities – his eternal power and divine nature – have been clearly seen, being understood from what has been made, so that men are without excuse.” (Romans 1:20)

In this verse, Paul is saying that we only have to look around at nature to see that an almighty God — a supreme creator — exists.

Creation is a source of joy
From the Bible’s first verse (Genesis 1:1), God reveals Himself as the creator of everything. In other passages in the Old Testament, He tells us to look at creation: the diligence of the ant, the power of yeast, the beauty of the lilies.

In the book of Job, when God finally broke His long silence, He used four chapters to point Job to details in His creation. 

In the New Testament, Jesus, in whom all things were created (Colossians 1:16), encouraged people to look at nature – the birds, the fig tree, the fields. 

God is the ultimate source of joy, and we who are created in His image also experience joy. God wants us also to experience joy from His creation. We see evidence of this in Job 38, where God pauses while telling Job about His creation and says that when the angels saw His creation, they shouted with joy:

 “Where were you when I laid the foundation of the earth? … when the morning stars sang together and all the sons of God shouted for joy?” (Job 38:4-7)

As mysteries are revealed, they increase our appreciation of God’s handiwork
The nature that we can see around us with the naked eye is the visible universe. While the visible universe is incredibly magnificent, there is far, far more beyond. Speaking about Jesus, Paul says that, “…by him all things were created, in heaven and on earth, visible and invisible…” (Colossians 1:16) What we can see with our eyes, or even with all five of our senses, is only the beginning. The vast majority of God’s creation is invisible to our eyes. 

A good example comparing the visible to the invisible are the stars in the sky. On a clear, dark night, the human eyes can see around 6,000 stars. Modern telescopes can see trillions. 

What is exciting in today’s world is that the tools of modern science, such as the telescope, have given us powerful new eyes with which we can peer deep into God’s creation. We can see so much, from the mighty cosmos to the tiny living cell, and see the wonders of His handiwork. Like no other time in history, science has unveiled many of the mysteries of the universe. What a gift from God! For more information on these wonders revealed by science, check out www.reasons.org.

Pray this week:
Blessed are You, O Lord, the true and awesome God Almighty who created all things.

We thank you, Lord, for the gift of science and scientific tools which allow us to peer deep into Your creation so that we may gain a fuller knowledge of You and Your plan for us. What we learn about You with our minds we can rejoice about in our hearts. We thank you, in Jesus’ name. Amen. 

Do you have questions about the Bible’s relationship to science? Write us to connect to someone who can help you.

Alan Zibluk Markethive Founding Member

Bitcoin Market Analysis: 24th February 2019

 

Bitcoin Market Analysis: 24th February 2019

Today’s attempt by buyers to break through the price range of USD 4240-USD 4320 ended with big aggression on the part of sellers.

At hourly time frame, it is clearly visible that buyers did not make any effort to break through this price zone. Only as buyers approached this price zone – the volumes immediately decreased:

Now the price has stopped in the price zone of USD 3850- USD 3920. Looking at the length of the day candle, we think that the fall can continue up to USD 3500. In this case, it will be a final confirmation that the price is traded in the triangle from 15 December 2018. Buyers did not expect such an aggressive fall. However, buyers start to close their marginal positions during the growth:

Interestingly, during the fall, sellers close their positions as well, so they do not believe in the global continuation of the fall:

Therefore, at this moment, we do not expect the market to have a strong trend until the price goes beyond the triangle. The lower limit of the triangle is USD 3500, the upper limit is the price zone of USD 4240-USD 4320.

If we analyse the volumes on which the growth occurred then the local chart shows that they are enlarged. Though, if you do not take into account the consolidation volumes which were before growth and compare them with the volumes when the price was falling, then we can conclude that the volumes are significantly smaller:

If we analyze the structure of the waves, one can observe that each directed wave, up or down, consists of three smaller waves. According to the wave analysis, this only confirms the fact that the corrective wave continues to form ahead of the future impulse:

Therefore, with a high probability, sellers will test USD 3500. And if buyers find the strength to keep this price – the chance to continue the growth will remain high.

An interesting situation with an index of fear/greed. Before today’s fall, its value was 69. This is the highest figure for the whole year, starting from February 2018:

 

 

By Peter Posted on 25/02/2019 5 min read

Bitcoin Market Analysis: 24th February 2019

Alan Zibluk Markethive Founding Member

Crypto Frenzy Overloads Binance Tom Lee’s 2019 Bitcoin Forecast and Ethereum’s Vitalik Buterin on Ripple and XRP

 

Crypto Frenzy Overloads Binance, Tom Lee’s 2019 Bitcoin Forecast, and Ethereum’s Vitalik Buterin on Ripple and XRP

Binance Overload
 

Binance CEO Changpeng Zhao says a sudden burst in trading volume on Sunday triggered delays on Binance.

According to Zhao, the leading crypto exchange hit an all-time high in system load as the price of Bitcoin dropped below $4,000. The exchange is still working to effectively scale during periods of intense trading.

Fundstrat co-founder and head of research Tom Lee is offering his take on where Bitcoin will land at the end of 2019.

Lee told Crypto Market News he believes the price of BTC will recover and be “much higher” than $3,900 by the end of the year.

“I think that several things are going to support the price this year. The first is what we call macro factors – the fact that global markets are actually rising. Global stock markets are bullish for Bitcoin in the same way that last year’s global stock markets fell and Bitcoin fell. The dollar isn’t soaring like it was last year so that dollar being weaker is a real tailwind for Bitcoin.

The technicals are much more attractive. Bitcoin is bouncing along its 200-week moving average. That’s really been an important support in traditional markets, and I think it’s going to support Bitcoin’s price here.

And finally, I think there’s true improved credibility of Bitcoin. The JP Morgan Coin is really proving the use case of digital currencies. Bakkt is going to launch this year and that’s a really good regulated way for institutions to trade crypto.”

Vitalik Buterin on Ripple and XRP

Ethereum creator Vitalik Buterin is poking fun at Ripple’s stream of partnership announcements on Twitter. Buterin responded to a tongue-in-cheek tweet from the founder of Bitcoin Advisory Pierre Rochard, who pointed out that one Bitcoin has always been worth one Bitcoin.

Meanwhile, an extensive article on Ripple and XRP written by Buterin has surfaced. Buterin wrote the article for Bitcoin Magazine, which he co-founded, back in 2013.

Buterin calls Ripple “decentralized cryptocurrency’s new kid on the block.”

 

Daily Hodl Staff

February 24, 2019

Crypto Frenzy Overloads Binance, Tom Lee's 2019 Bitcoin Forecast, and Ethereum's Vitalik Buterin on Ripple and XRP

Alan Zibluk Markethive Founding Member

Bitcoin – fundamentals stronger than they were during 2014-15 crypto-winter says Pantera Capital

Bitcoin - fundamentals stronger than they were during 2014-15 crypto-winter, says Pantera Capital

Bitcoin – fundamentals stronger than they were during 2014-15 crypto-winter, says Pantera Capital

A year ago, the market cap for the entire cryptocurrency industry was over $800 billion and it has since, fallen by over 80 percent to its current valuation of $135 billion. This period came to be known as the “crypto-winter.”

Pantera Capital, a blockchain investment fund based in San Francisco, released a study that charted the price of Bitcoin in 2013 and compared it to 2017, based on the real-time and projected valuations. The report suggested that top cryptocurrencies, despite a decline in the prices, saw their fundamentals remain resolute.

In 2013, Bitcoin first shot up above the $1,000 mark and then closed the following year just above the $300 mark, with many referring to this period as the first crypto-winter. Dan Morehead, the CEO of Pantera, stated that he had, “more of a worry,” during the first winter as that was Blockchain’s first test. The technology survived and the currency it powered only surged over the following years.

With respect to the current bearish market, he said,

“Today, the underlying fundamentals are much, much stronger than they were in the 2014–15 crypto winter.”

According to Morehead, the stronger fundamentals in the current bear market is due to the rise of institutional interest. The digital assets trading platform Bakkt, backed by NYSE and ICE, is set to launch this year, Fidelity has launched a crypto-custody solution division and more recently, JP Morgan introduced a US dollar-backed cryptocurrency called “JPM Coin.”

He added,

“People have been talking for years about the impending institutional wave of money coming into the markets and I think we now actually have the required conditions for that to happen.”

When asked if retail investors drove the cryptocurrency market and when institutional investors would begin to flock in, Morehead stated that institutions were risk-averse and they preferred a more conservative approach, especially with something as volatile as cryptocurrency.

He added that several custody giants would join the likes of Fidelity and State Street to provide solutions to the cryptocurrency industry, looking at the wider institutional interest. However, the prices need to rise for this to happen. Morehead stated,

“I think that’s been the gating factor: that large institutions want a more institutional custodian like Bakkt or Fidelity. And once those come in, people will start buying and that’ll start the price moving up. But the massive amount of investment probably won’t occur until the prices have already really gotten going.”

Commenting on the ongoing blockchain scaling debate, Morehead stated that it would take a few years for the impact of scaling success to manifest as a success. Morehead compared the lack of scalability of major cryptocurrencies such as Bitcoin [BTC] to streaming Netflix on a mobile device in the 90s, advising these proponents to be patient. He added,

“These protocols will scale. Even if it takes years for it to happen, you shouldn’t discount that eventuality out of the price today.”

Pantera had recently secured over $125 million out of its $175 million venture fund, which is the company’s third cryptocurrency venture fund. Their maiden fund back in 2013, when the first crypto-winter stormed through, was just $13 million, following which the second rose to $25 million.

In light of their whopping $175 million target, Pantera stated in August 2018, that this was a “function of how fast the space is moving, the talent coming in, the opportunities, and the sizing of rounds.”

 

Published

1 min ago on February 24, 2019 By Aakash Athawasya

Alan Zibluk Markethive Founding Member

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Don’t Forget Who You Belong To

You have been given many gifts, but it’s up to you to use them correctly.

Written by GodLife on 19/02/2019

Series: Weekly Devotional

Tags: BibleCharacterLeadershipObedience


She said, ‘The Philistines are upon you, Samson!’ And he awoke from his sleep and said, ‘I will go out as at other times and shake myself free.’ But he did not know that the Lord had departed from him. Then the Philistines seized him and gouged out his eyes, and they brought him down to Gaza and bound him with bronze chains, and he was a grinder in the prison.

Judges 16:20-21

When I was in grade school, my homeroom teacher nominated me to be a ‘super kid.’ This recognition was for all the kids who received good grades, had exemplary behavior and showed great leadership skills. As a reward, we would get prizes and even a t-shirt with the Superman logo on it to show that we were ‘special.’ 

In the Bible, there are many examples of people who were special, too. Today, I want to talk about Samson. Maybe you know him as the strong guy with super long hair who defeated the Philistines (Judges 15:16), but there is so much more to his story, his character, and his supernatural strength. Let’s dig a little deeper into his life.

Samson was chosen and set apart 

Even before he was born, Samson was blessed and set apart (Judges 13: 4-6). He dedicated himself to God as a Nazarite, a person entirely set apart for God. As a sign of obedience, a Nazarite drank no wine, would not go near a corpse or make himself unclean and would let his hair grow as a sign to his commitment to the Lord (Numbers 6:1-8). 

Samson looked the perfect example of a Nazarite. With his long hair and mighty strength, he had everything that identified him as a follower of God at first glance. He was also known as an Israelite warrior and a judge who led Israel for 20 years (Judges 16:31). Even his name, which means ‘little light’ or ‘little sun,’ served as a symbol in a time when the people of Israel were walking in so much sin and darkness. (Judges 13:1

Samson was a leader Israel deserved 

With all the titles and his outside appearance, one would think Samson lived a life according to his vow, but the truth is, he was far from obedient. Whatever he set his eyes upon, he wanted. For example, he first broke his vow as a Nazarite when he chose his wife. “I saw one of the daughters of the Philistines at Timnah. Now get her for me as my wife,” he told his parents. The Philistines didn’t serve God and were mortal enemies of the people of Israel. But his disobedience didn’t end there. Later on, “Samson went to Gaza… saw a prostitute and went to bed with her” (Judges 16:1). 

Samson is defeated 

Ultimately, Samson’s fall began when fell in love with Delilah, a woman who betrayed him for silver and turned him in to the Philistines. “My hair has never been cut because I am a Nazarite to God from birth,” he revealed to Delilah, “If I am shaved, my strength will leave me, and I will become weak and be like any other man” (Judges 16:17).

Delilah betrayed him by cutting his hair while he slept, and the Philistines took him as a prisoner. Gouging his eyes out, they forced him to grind grain in prison. 

In his brokenness and humiliation, Samson pleaded to God, and the Lord listened. “Lord God, please remember me,” Samson implored. “Strengthen me, God, just once more. With one act of vengeance, let me pay back the Philistines for my two eyes.” The Lord gave Samson his strength back, and he used it to kill the Philistines by pushing the pillars of the temple. (Judges 16: 28-30).

So, What can you learn from Samson? 

Samson’s story serves as a warning to every believer. He used supernatural strength to kill a lion with his bare hands (Judges 14:6), but couldn’t break the chains of sin. Instead of becoming a great leader to turn his people back to God, he lived, married, coexisted and died with the Philistines.

As believers, we have a ‘spirit of power’ (2 Timothy 1:7), but we must not use it for our benefit. We must compliment it with love and self-control so that we guard what the Lord has given us, and with the guidance of the Holy Spirit living within us, His name will be glorified. 


Pray this week:

“Lord, forgive me if I’ve ever acted upon my own will and not yours. Give me the opportunity to show those around me that I belong to you. Amen.” 


Where has the Lord called you to be obedient to Him in your life? Have you listened?

Do you want to reach your full potential for the Lord but need spiritual guidance? Connect with a caring Christian friend today! 

Alan Zibluk Markethive Founding Member

Bitcoin – Do or die for the bulls

Bitcoin - Do or die for the bulls

Bitcoin – Do or die for the bulls

  • BTC at the cusp of a major resistance, break must.

  • U-turn from here would be deadly and chaotic.

Bitcoin, the largest cryptocurrency by market capitalisation, is sitting on the cusp of a breakout on the med-term charts, a break of which is a must if the bulls have to continue being relevant in their journey to the north.

BTC/USD is down three cents of a percent on day at $3,929 and trading in less than one percent range for the day. On the 480-minute chart of this largest crypto, it is sitting exactly at the resistance area of the trend line, formed after last year's sell-off and the bounces thereafter.

Given, nearly overbought RSI and sentiment around the crypto world still at their weakest of the times, chances of a breakout on the upside are very slim. But if it indeed breaks out, then next major resistance comes after nearly 35 percent more rally from here – at $5,500 that is. Whereas if bulls are unable to cross past this one, then a U-turn would take prices all the way towards $3,700 first major support and then $3,300. So indeed a do or die situation for the bulls to prove their relevance.

BTC/USD 480-minute chart:

 

Manoj B Rawal

FXStreet

Alan Zibluk Markethive Founding Member