Bitcoin Falls Back from 8000 Levels

Bitcoin Falls Back from $8,000 Levels

Bitcoin Falls Back from $8,000 Levels

Bitcoin looks like it is struggling now to crack resistance at $8,000 and has fallen back sharply in the US session.

At the moment, BTC is back around $7,600 and we will be watching with interest today as to whether price can rebound. We have been seeing all the dips get bought recently, but should price break the $7,500 level, then there is a good chance we will test $7,000 where price could consolidate for some time, before trying its luck at higher prices.

$7,000 is actually pretty strong support here as we can see that price has bounced off that level a couple of times, most notably on the back of the flash crash last week.

While that level did fall for a moment, price quickly retraced and consolidated above that point.

For that reason, that is now a key downside level. I suspect price will hold for now, but it is an interesting 24 hours ahead, as this is the first sign of a bit of selling (outside the flash crash) in a while, and it is the first time price hasn’t held a key resistance level.

 

Posted Thursday, May 23, 2019 by Rowan Crosby

Alan Zibluk Markethive Founding Member

Bitcoin halving is exactly 365 days away BTC to 55000?

Bitcoin halving is exactly 365 days away, BTC to $55,000?

Bitcoin halving is exactly 365 days away, BTC to $55,000?

Hardware wallet manufacturer, Trezor, took to Twitter to point out that in exactly 365 days we will experience the much-anticipated third Bitcoin halving in history.

Twitter has been buzzing, and it is all about Bitcoin’s third halving, which according to hardware wallet manufacturer Trezor, will take place in exactly 365 days.

In case you are wondering, this means that the number of Bitcoin issued per each block, mined every ten minutes, will fall from 12.5 BTC to 6.25 BTC. In other words, this reduction of 50% will cut the block reward given to miners in half and further slow the production of Bitcoin’s finite supply.

Approximately by May 2020, as it is an estimate based on current hash power, the number of BTC issued per day will be reduced from 1,800 to 900 and as these halving events always had a positive impact on the price of Bitcoin in the past, many analysts are now convinced that the increased scarcity will once again spark yet another parabolic rally.

One such leading crypto analyst, known in the industry as Plan B, took to Twitter at the end of March, to share his latest prediction model that indicates Bitcoin will hit $55,000 due to Bitcoin's coming halving in 2020.

The crypto researcher, shared his analyzes which shows the potential impact of Bitcoin’s coming halving.

According to the crypto trader, people ask him all the time where the money would come from.

'People ask me where all the money needed for $1trn bitcoin market value would come from? My answer: silver, gold, countries with negative interest rate (Europe, Japan, US soon), countries with predatory governments (Venezuela, China, Iran, Turkey etc), billionaires and millionaires hedging against quantitative easing (QE), and institutional investors discovering the best performing asset of last 10 yrs.'

Although a spectacular prediction, the crypto trader added that time will be the judge on his prediction, and that 'we will probably know one or two years after the halving, in 2020 or 2021'.

Just today Chepicap reported that Brian Kelly explained on CNBC's Fast Money, why he feels the price of Bitcoin is on the rise, and made an overall bullish case, where he points out how institutional investors are coming into the space, retail applications are beginning to be rolled out and that we are about a year away from the next halving event.

 

22 MAY, 2019 BY JOERI CANT

Alan Zibluk Markethive Founding Member

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Bitcoin Price Prediction – Good Crypto Market Entry Time for Investors to Buy BTC with USD?

Bitcoin Price Prediction -  Good Crypto Market Entry Time for Investors to Buy BTC with USD?

Bitcoin Price Prediction – Good Crypto Market Entry Time for Investors to Buy BTC with USD?

The cryptocurrency market started on week 21 of the year 2019 with a sharp correction in its prices, as many had expected, after high peaks of the year in all the protagonists of the ecosystem. At the time of writing a large red tide is dyed on the green sea that prevailed in the main crypts of the top 10 of the market.

The market has returned to levels of $ 240 billion and Bitcoin has lost control when it went down to 56.9%, after being at 60% a couple of days ago.

At the time of writing its spot price for trading in the BTC/USD pair it is $ 7,937.83 USD, with a contraction of -2.16% in the last 24 hours. Its volume has fallen from levels close to 23 trillion dollars, almost 50% less than what was moving a couple of days ago. Earlier today it was down around $7,749 after testing $8,250 over the weekend again.

A strong sale of assets in BitMex for almost $200 million and the possible delay in the decision of VanEck ETFs, have led to a retreat of nervous investors, while the big ‘whales' wait in the rear with massive orders of the purchase at lower prices of the cryptocurrency.

BitMex's XBT / USDT pair continues to dominate the scene with 16.24% contribution to the cryptocurrency market with its BTC derivative products and is the main indicator of the price, well above BW.com and Coinall, which follow it very closely away with 2.57% and 2.23% respectively.

In the short term, BTC price presents an interesting scenario for this current week. His upward trajectory projects us a sharp change in his current level to close levels @ $7100 to then resurface in a bullish race back to the @ $8000.

In short, we would be talking about a winning position for those who manage to enter on time, up to 15% profit.

The support is maintained in the moving average of prices for 100 days, which if broken could ensure compliance with the respective wave.

MACD has made a bearish cross, with red bars in the negative direction gaining position, indicating the path that BTC will follow in the coming days.

The Momentum indicator, on the other hand, has entered the descent zone but maintains a soft, almost horizontal slope that indicates that the fall of a prolonged bear market is not yet feasible in the cryptocurrency.
In the medium term, the cryptocurrency is totally bullish. His parable projected even though it was broken this weekend, it seems that we are in the presence of a new similar and bullish projection. The price levels are projected between support below the 7k line and a maximum resistance close to 10k. A difference of almost 30 percent is enough for a crypto asset for everything it represents.

The 30-day EMA indicator is medium-term support, which is still far from being beaten.

RSI for its part has not left the purchase zone and maintains a bullish position in the area to the rear to return to overbought levels when the bulls take control of the market again.

Aroon Uptrend has begun to descend but without force, and its counterpart still shows no signs of recovery, so the bullish moment still lasts in the medium term for the main cryptocurrency.

In general BTC and the crypto market are giving signals to those who did not have a clear picture of when to take positions in the main crypto markets. Decisions such as the ETF underway to be approved or rejected by VanEck, which expires this Tuesday, May 21, may mean the start of a bullish or bearish rally for BTC in the coming weeks.

By Daniel Jimenez – May 21, 2019

Alan Zibluk Markethive Founding Member

Hard Sayings of Jesus

Don’t let anything — however shocking — keep you from Jesus

Written by Dan Lee on 12/06/2018
Series: Weekly Devotional
Tags: Confusion, Identity, Jesus, Discipleship, Lord
And when Jesus finished these sayings, the crowds were astonished at his teaching, for he was teaching them as one who had authority, and not as their scribes.

Matthew 7:28–29
God’s Word, the Bible, is full of promises and comforting words. But in both the Old and New Testaments we find words that challenge rather than comfort us, or even cause us to be troubled or confused. 

Some of Jesus’ words are hard because His goal was not our happiness in this life, but our sanctification. That is, that we live holy lives that bring glory to Him. 

Let’s allow the difficulty of some of God’s words cause us to praise Him in faith, knowing that His wisdom and knowledge are infinite and perfect. And let us rejoice, knowing that though we see Him only dimly now through a clouded glass, we will soon see Him face to face (1 Corinthians 13:12). 

Here are a few of Jesus’ hard sayings, with a short explanation of each. I trust they will help you know and follow Him better.

No. 1: Eat His flesh and drink His blood
“So Jesus said to them, “Truly, truly, I say to you, unless you eat the flesh of the Son of Man and drink his blood, you have no life in you.  Whoever feeds on my flesh and drinks my blood has eternal life, and I will raise him up on the last day.” (John 6:53-54)

This is one of Jesus’ most famous hard sayings. Many of his followers left him after hearing it, and the disciples even said, “This is a hard saying” (John 6:60). 

We also know that some critics, taking the words literally, accused Christians of being cannibals. So what did Jesus mean when he said these words?

Jesus was not instructing people to literally eat his flesh and drink his blood, but that his body and blood, broken and shed for us on the cross, were going to be life-giving and nourishing for all who believed in him. Later, during the Last Supper, He explained further:

“Now as they were eating, Jesus took bread, and after blessing it broke it and gave it to the disciples, and said,  ‘Take, eat; this is my body.’  And he took a cup, and when he had given thanks he gave it to them, saying, ‘Drink of it, all of you, for this is my blood of the covenant, which is poured out for many for the forgiveness of sins.’” (Matthew 26:26-28)

So in saying that His followers were to “eat his flesh” and “drink His blood,” Jesus was telling us that we must take Him – His very life – into ourselves to receive His forgiveness. And to this day, we celebrate Holy Communion as a remembrance of His sacrifice.

No. 2: Hate your family and yourself
“If anyone comes to me and does not hate his own father and mother and wife and children and brothers and sisters, yes, and even his own life, he cannot be my disciple.” (Luke 14:26)

Is Jesus, the God of Love, really telling us to hate? No! Jesus here is using hyperbole, or exaggeration, to make His point. We know that He never endorsed breaking any of the Ten Commandments, including “Honor your father and mother.” 

Jesus is saying that, in comparison to the love and devotion He deserves, any other love, including for ourselves, should look like hatred. He calls us to learn to love Him so deeply and to obey Him so completely, that any human allegiance, even the desire to preserve one’s life, looks like hate in comparison. 

Jesus told us in John 15:13, “Greater love has no one this, than that someone lay down his life for his friends.” And of course, He demonstrated this when He went to the cross, laying down His own life for the forgiveness of mankind.

No. 3: Tear out your eye
“If your right eye causes you to sin, tear it out and throw it away. For it is better that you lose one of your members than that your whole body be thrown into hell.” (Matthew 5:29)

Here’s another use of hyperbole. Jesus is telling us here that if anything keeps us from following him, it requires drastic action. Our very eternal destiny may be at stake. 

In practical terms, it means that I may need to end that dating relationship that keeps drawing me into sin. Or, I may need to quit my job if my boss demands that I cheat. To avoid sin, God might ask me to enroll in a different school or even move to another city. That’s how important that is to Him. We should be desperate to live holy lives, in the power of His Holy Spirit. 

Were Jesus' teachings hard, radical, even shocking? Yes! They still have great power to give us reason to worry about indifference toward Him. As Missionary Hudson Taylor reportedly said: "Christ is either Lord of all, or is not Lord at all." As you encounter other difficult sayings in God’s Word, always trust that He, and His words, are faithful and true. And as you dig a little deeper and ask for His wisdom, He will teach and guide you, enabling you to live a life that glorifies Him. 

Pray this week:
Lord Jesus, as your disciples said, who else would I turn to? You have the words of eternal life. However challenging your call is to me, I will love and follow you, because you are my only hope.

For you, what is the hardest thing about following Jesus? Write for prayer and help.

Alan Zibluk Markethive Founding Member

Bitcoin price analysis: – BTC is back below 8000 amid mounting selling pressure

Bitcoin price analysis: - BTC is back below $8,000 amid mounting selling pressure

Bitcoin price analysis: – BTC is back below $8,000 amid mounting selling pressure

  • The resistance at $8,300 has stopped the recovery.

  • The short-term sellers pushed Bitcoin back below critical $8,000.

BTC/USD is hovering below $8,000 after an initial attempt to settle above $8,300 during early Asian hours. The first digital coin as lost over 3% of its value since the beginning of the day, though it is still in the green zone on a day-on-day basis. At this stage, the recovery from the recent lows has stalled, but the coin is still moving within the long-term bullish trend with 4.5% of gains on a day-on-day basis.

Bitcoin's technical picture

On the intraday charts, Bitcoin's recovery is capped by the psychological $8,300. This resistance area is strengthened with the upper boundary of 4-hour Bollinger Band (currently at $8,276) and the intraday high of $8,304. Once it is cleared, the upside is likely to gain traction with the next focus on the previous week high of $8,384 followed by the upper boundary of the daily Bollinger Band at $8,770.

On the downside, the local support is seen at $7,800 handle with the intraday low marginally above this level. A sustainable move lower will trigger more sell-off with the next aim at $7,650 with SMA50 4-hour on approach and a confluence of SMA100 and SMA200 (1-hour) right below this handle.

BTC/USD, 1-hour chart

 

 

Tanya Abrosimova

FXStreet

Alan Zibluk Markethive Founding Member

Being a Follower of Jesus

Whom Will You Follow?

Written by Susan on 19/04/2016
Series: Weekly Devotional
Tags: Disciple, Jesus, Life, Love, Purpose
Trust in the Lord with all your heart and lean not on your own understanding; in all your ways submit to him, and he will make your paths straight.

Proverbs 3:5-6
Why Would You Want to Follow Someone?
“A disciple is not above his teacher, nor a slave above his master.” Matthew 10:24

Our almighty God, in the form of a human servant, came to reach out to you, me, and all people. We can be followers of Jesus. Remember, there has never been another person like Jesus. He leads us straight into the presence of our heavenly Father.

Jesus is perfect in His love for others, His power over evil, His compassion for people and His hatred of sin. His understanding is endless, and His joy is deep. He drew all kinds of people to Himself when He lived on earth. His presence was like a magnet to those who needed hope. He is everything good, and people really wanted to be around Him. He is truly one of a kind, full of hope, love, trust and forgiveness.

We Become Like the One We Think About, Care For, and Trust
“But he who practices the truth comes to the light, that his deeds may be manifested as having been wrought in God.” John 3:21

Silly little ducks. Have you watched them before? They all follow the mother without even thinking about where she is going. They make a line behind her – keeping her pace as best they can. For some reason I keep thinking of them as the perfect example of a disciple.

They never stop to consider anything except how important it is to keep their mother in their sight. They feel lost without her, they become so worried if they cannot find her. Yet, they are also very content when their eyes are set on her. They are ‘practicing the truth’ by watching her walk, swim, eat, and then doing the same. We have so very much to learn. We are like these ducklings. Yet, we have a perfectly caring leader.

We Are Like Him?
“Then God said, “Let Us make man in Our image, according to Our likeness….” Genesis 1:26

Try to realize that we ARE made in God’s image. We long for Him. We can know Him better and better; We were created to follow after Him. It is where we flourish, grow, live and find our true pleasure. When we follow Jesus, we become His disciples.

Pray this week:
Jesus, Give us the eyes to follow You. Make our hearts yearn for Your presence. Assure us as we attempt to follow You in our imperfect ways. May our pleasures be found ONLY in YOU!! Amen

What are the deepest desires of your heart?

Alan Zibluk Markethive Founding Member

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Impressive Resilient Bitcoin Price Moves Higher as Crypto Stars Align

Impressive! Resilient Bitcoin Price Moves Higher as Crypto Stars Align

Impressive! Resilient Bitcoin Price Moves Higher as Crypto Stars Align

The bitcoin price stumbled toward the end of the week but it looks like the bulls have gotten it together. BTC is now moving higher by nearly 7% to approximately $7,800 at last check on CoinMarketCap. The price had fallen as low as approximately $7,000 on Friday, and some traders have been calling for the bottom to fall out. It seems as though that won’t happen, at least not today.

Even though the sudden reversal came suddenly and seemingly disrupted some weekend plans, nobody on Crypto Twitter was complaining.

Even though the sudden reversal came suddenly and seemingly disrupted some weekend plans, nobody on Crypto Twitter was complaining.
 

BTC on the move again.
 

— Mati Greenspan (@MatiGreenspan) May 19, 2019
 

Morgan Creek Capital Management CEO Mark Yusko points out that “bitcoin never sleeps,” which certainly paves the way for the rally.

 

#BitcoinNeverSleeps@APompliano https://t.co/DOsKLYCAks

 

— Mark W. Yusko (@MarkYusko) May 19, 2019
 

BOE OFFICIAL SUGGESTS BITCOIN COULD REPLACE CASH

There is a thread making the rounds on Reddit about a UK central banker coming to terms with the rise of bitcoin. According to the Reddit thread, Bank of England Chief Economist Andrew G. Haldane spoke to college students on May 17 and the topic of bitcoin came up. He was refreshingly open-minded. The Reddit member explained:
 

“One person asked what he thought of cryptocurrency and his response surprised me. He said it could replace cash; he even joked about us likely having bitcoin in our wallets. He said he didn’t think it’d replace cash tomorrow, but he was quite open to the idea 20 or 30 years down the line. He was also quite familiar with cryptocurrencies and joked that there were now thousands of them.”
 

It’s no secret that digital payments are usurping cash. But for the BOE official to recognize bitcoin as the digital currency that will eventually replace cash – even if it’s in two or three decades – is a strong display of confidence in the peer-to-peer currency. Even the cryptocurrency ecosystem knows that it is a marathon and not a sprint, so Haldane’s forecast probably resonated with many people. Some industry leaders such as BitMEX’s Arthur Hayes has previously suggested that bitcoin could replace cash a lot faster than that. But the fact that a central banker and the CEO of a bitcoin exchange are in the conversation is certainly a bullish sign for bitcoin.
 

60 MINUTES EFFECT

As CCN previously reported, CBS show “60 Minutes” will be airing a segment on bitcoin this weekend. Anderson Cooper has already interviewed Charlie Shrem for the program.

 

Charlie Shrem tells Anderson Cooper about his wild ride on the bitcoin “rocketship,” on 60 Minutes this Sunday at 7 p.m
 

Charlie Shrem tells @AndersonCooper about his wild ride on the bitcoin “rocketship,” on 60 Minutes this Sunday at 7 p.m. https://cbsn.ws/2JrUF3O

 

Posted by 60 Minutes on Saturday, May 18, 2019

 

The bitcoin pioneer tweeted:

“This Sunday 60 Minutes will air its first bitcoin episode ever. I really enjoyed explaining why crypto is important to Anderson Cooper and what its future holds!”
 

This Sunday @60Minutes will air it’s first #Bitcoin episode ever. I really enjoyed explaining why crypto is important to @andersoncooper and what ifs future holds!

Want to hear more ? I just dropped the first 5 episodes of UNTOLD STORIES! Tune in now at https://t.co/OPfZCStjSx pic.twitter.com/vMxmxGntKm

— Charlie Shrem (@CharlieShrem) May 18, 2019

 

2019 is proving to be the year of resilience for bitcoin. Whoever decides to be against the No. 1 cryptocurrency is going to be in for a long ride.

 

Don't bet against Bitcoin, and don't bet against B…
 

— CZ Binance (@cz_binance) May 13, 2019

 

By CNN

Gerelyn Terzo

Alan Zibluk Markethive Founding Member