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Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, NEO, EOS – Price Analysis, March 06

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Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, NEO, EOS – Price Analysis, March 06

Harvard economist Kenneth Rogoff believes that Bitcoin’s value will drop to $100 in a decade. He stated that increased regulation is one of the aspects that will bring down the value of Bitcoin. We, on the other hand, have an opinion that in a decade, the cryptocurrencies will have much more use cases and that it will increase their demand, propelling prices higher.

Bitcoin’s entrepreneurs have taken up the task of rebuilding the Puerto Rico economy that has been hit by natural disaster, and a shortage of funds. This is a new experiment, and in case it succeeds, it will be implemented at many other places.

Additionally, increased involvement of large companies with the crypto world shows their growing acceptance, which is a bullish sign.

 

BTC/USD

We had been expecting Bitcoin to break out of the neckline of the inverse head and shoulders pattern and move towards the target objective of $13,000. But the bears strongly defended the $12,200 levels.

Yesterday, Feb.5, the BTC/USD pair reached a high of $11,934.08 but could not break out of the overhead resistance. Currently, the cryptocurrency is pulling back and is likely to find support at the trendline of the ascending channel at $11,100. If this support breaks, the next support lies at the 20-day EMA and below that at the 50-day SMA.

Therefore, traders can raise their stops to $11,000 on the remaining half-position. Once the price sustains below the channel, we expect it to stay range bound between $9,500 and $12,200.

 

ETH/USD

We had recommended traders to raise their stops on Ethereum to $830 in our previous analysis, which was hit today, Feb.6. The bulls have failed to break out of the 20-day EMA for the past nine days.

As the price is below both the 20-day EMA and the 50-day SMA and is turning down from the resistance line of the descending channel, the bears have an upper hand.

Now, chances are that the bears will push the ETH/USD pair towards the $780 levels. If this level breaks, the next support is at $723.

 

BCH/USD

We had recommended buying Bitcoin Cash on a breakout above the range, however, the bulls could not push prices above the 20-day EMA and the overhead resistance.

Now, the bears are likely to push prices to the lower end of the range at $1,150. If the BCH/USD pair breaks below this support, it is likely to fall to the pattern target of $950.

Our bearish view will be invalidated if the cryptocurrency breaks out of $1,355.

 

XRP/USD

In the previous analysis, we were unsure about Ripple’s price action. Yesterday, March 05, the price broke out of the overhead resistance, but it could not clear the 50-day SMA.

Prices turned down sharply, and the XRP/USD pair is now likely to continue trading in the range once again. If the bears push prices back below the $0.85 level, it can extend its fall to $0.72.

We don’t find any trade setups on it at the moment.

 

XLM/USD

Stellar continues to trade in the range because the bears were not able to break down below the $0.32 levels.

On the upside, the XLM/USD pair is facing resistance from the 20-day EMA. If it breaks down of $0.32, we might observe a fall to the support line of the descending channel at $0.22.

The bulls will continue to face resistance from the 20-day EMA, the 50-day SMA and the upper end of the range.

 

LTC/USD

Though Litecoin continues to trade above the 20-day EMA, it has lost its momentum. Both moving averages have flattened out, which points to a range bound action in the next few days. We recommend traders to retain the stop loss at $200, at breakeven.

Yesterday, March 05, the bulls attempted to break out of the downtrend line, yet, they could not sustain above the line.
 

The LTC/USD pair is likely to correct towards the 50-day SMA. If this level breaks, a move towards $175 is also possible, where we expect strong buying to emerge.

We should turn bullish if the cryptocurrency sustains above $225.

 

ADA/BTC

Cardano has been holding above the critical support level of 0.00002460 for the past four days, but a lack of buying at the support level shows that the bulls are not interested in buying even at these levels.

If the price breaks down of 0.00002460, it can slide to 0.00001690 levels.

On the upside, the ADA/BTC pair will face resistance at the 20-day EMA and the 50-day SMA.

We need to wait for buying to emerge before recommending a trade on it.

 

NEO/USD

We expected the $108 levels to provide strong support but we were proven wrong, and NEO broke below our suggested stop loss of $105.

700

The NEO/USD pair is now likely to fall to $93.5 levels. The zone between $86 to $93.5 might offer strong support. If it breaks, the cryptocurrency will become negative.

On the other hand, the price will become positive on a sustained move above $140.

 

EOS/USD

EOS has broken down of the symmetrical triangle, which is a bearish development. Currently, the price is holding at the horizontal support of $7.5.

If this level also breaks, a retest of the Feb. 06 lows is likely. On the upside, the bulls will face resistance at the 20-day EMA and the 50-day SMA.

We shall turn bullish when the EOS/USD pair breaks out of $10.1190 levels.

 

Author: Rakesh Upadhyay

 

Posted by David Ogden Entrepreneur

Alan Zibluk – Markethive Founding Member

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CFTC Warns Against Cryptocurrency Pump-and-dump Schemes

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CFTC Warns Against Cryptocurrency Pump-and-dump Schemes

CFTC Warns Against Cryptocurrency Pump-and-dump Schemes

The rising popularity of cryptocurrencies is of great concern. Especially when it comes to pump-and-dump schemes, there’s reason to be concerned. As such, the CFTC issued an official warning against this type of market manipulation. They advise customers to avoid such schemes, especially when it comes to small and new altcoin markets. It is evident doing one’s research is always the best course of action.

In the world of cryptocurrency, pump-and-dump schemes are nothing new. In fact, they are a lot more common than some people might think. The CFTC has issued an official warning on this topic earlier this week. This is quite a surprise, even though it is evident consumers need to be aware of these manipulative efforts. Especially smaller cap coins and new alternative cryptocurrencies pose a significant risk in this regard. Moreover, it is always best to avoid any promotion on social media altogether.
 

Avoiding Cryptocurrency Pump-and-dump Schemes

This seems to stem forth from the recent BitConnect issues. That pump-and-dump scheme caused hundreds of millions in financial losses. It was mainly promoted on social media and YouTube. The CFTC doesn’t want history to repeat itself in this regard. They now want consumers to blow the whistle on any suspicious currencies first and foremost. It’s always better to submit tips than ignore pump-and-dump schemes altogether. Whether or not the general public will follow this guideline, remains to be seen.

According to the CFTC, pump-and-dump schemes in the cryptocurrency world take place on social media first and foremost. Online chat rooms, such as the ones on Telegram, are also problematic in this regard. Ignoring these buy signals will prove to be rather difficult for a lot of novice users. It is these people the marketers and scammers prey on first and foremost. A lot of people never do any research for specific coins or projects, even though they really should.

For now, the CFTC will not undertake further action against pump-and-dump schemes. They are not in a position to do so either, unfortunately. It is evident users need to conduct their due diligence first and foremost. Those who purposefully defraud other investors will face legal issues sooner or later, though. Anyone participating in market manipulation also violates the law. It is evident this new financial industry needs some boundaries first and foremost. Cracking down on pump-and-dumps is the right way to go in this regard.

 

Author JP BUNTINX • FEB 18, 2018 • 03:02

 

Posted by David Ogden Entrepreneur
David Ogden Cryptocurrency Entrepreneur

Alan Zibluk – Markethive Founding Member

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What Could Lift Bitcoin, Ripple, Ethereum, And Litecoin Prices Back Towards New Highs

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What Could Lift Bitcoin, Ripple, Ethereum, And Litecoin Prices Back Towards New Highs

The cryptocurrency party is on again.

After being in a deep correction for a few weeks, Bitcoin, Ethereum, Ripple, and Litecoin have been coming back nicely over the last week, gaining 19.87%, 10.48%, 30.57%, and 53.90% respectively—see table 1.

 

Table 1
 

7-Day Price Change For Major Cryptocurrencie

Source: Coinmarketcap.com 2/16/18 at 10:30 a.m.
 

The turnaround in cryptocurrency markets comes as equity markets rebounded from the sell-off early in the month, with NASDAQ gaining close to 5% in the last five days—see table 2.
 

Table 2

Source: Finance.yahoo.com 2/16/18 at 10.30 a.m.
 

Most notably, the cryptocurrency “technicals” remained strong, with 83 cryptocurrencies advancing and only 17 declining among the top 100 listed currencies—see table 3.
 

[Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. Disclosure: I don't own any Bitcoin.]

 

Number of Cryptocurrencies That Advanced/Declined In The Top 100 Ranks

The strong rebound in major cryptocurrencies is a cause of celebration for investors who purchased near the market bottom.
 

How long will the party last? Will major cryptocurrencies prices test the old highs? It’s hard to tell. Still, there are a few scenarios that could help major cryptocurrencies move in that direction.

One of them is the proliferation of Wall Street products like ETFs and Futures contracts that will allow a broader investor participation in cryptocurrency markets. In fact, it was the introduction of Futures contracts that created a great deal of buzz for major cryptocurrencies last December, and taking some of them to new highs.

Another scenario is an improved access to cryptocurrency exchanges that will ease the difficulty of buying cryptocurrencies by the average investor. “The biggest tailwind I can see right now is greater acceptance of cryptos by mainstream investors and improving ease-of-access to the crypto exchanges,” says Jesse Cohen Senior Analyst with Investing.com. “Trading app RobinHood for example has a waiting list of around 1.2 million users for its new crypto trading service, which would allow easy, quick and most importantly safe investing in all the major coins."

A third scenario is the adoption of cryptocurrencies as a medium of payment by major merchants. Already, there has been talk that Starbucks and Dunkin Donuts are considering accepting Bitcoins for their products.

While all this talk sounds like pie in the sky, the likelihood for one of these companies to adopt a cryptocurrency is very appealing, for an obvious reason: it will create a great deal of buzz among younger customers.

And it will drive cryptocurrency prices higher, provided that big governments, big banks, and hackers do not spoil the party again.

 

Author Panos Mourdoukoutas ,

 

 

Posted by David Ogden Entrepreneur
david ogden cryptocurrency entrepreneur

Alan Zibluk – Markethive Founding Member

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Cryptocurrency Markets Move Back Into Green After Substantial Selloff

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Cryptocurrency Markets Move Back Into Green After Substantial Selloff

Cryptocurrency Markets Move Back Into Green After Substantial Selloff

Cryptocurrency markets are rebounding today, Feb. 3, following yesterday’s multi-month low in Bitcoin's price. Most of the top 50 coins are in green, with 24 hour gains over 20 percent.

In part due to pressure from misleading reporting on regulations in India, the overall cryptocurrency market took a massive nosedive starting Thursday, Feb.1, shedding more than $100 billion in market cap in the 24 hours following the news.

However, after the substantial selloff, the market has spent today bouncing back, with Bitcoin rising back above the $9,000 level. At press time, Bitcoin was trading at an average of $9,095, up 3.54 percent on the day.

Following Bitcoin’s lead, other coins have also rallied substantially. With the except of three coins, every top 50 cryptocurrency has seen gains, with Litecoin (LTC) and Cardano (ADA), and Verge (XVG) leading the pack with gains between 15 and 20 percent.

A quick glance at the Coin360 market snapshot indicates a clear positive turn after the substantial negatives of the week.

Despite the market lows this week, figures such as Litecoin founder Charlie Lee and CNBC’s Cryptotrader host Ran Neuner have made bullish statements recently about Bitcoin. In an interview with Cointelegraph, Lee in particular offered some level-headed perspective on volatility in crypto markets, often lacking in a market crowded with fearful newcomers.

News of the first Canadian Blockchain ETF approval may well have played into today’s rally.

Bitcoin hit a record high of 20,000 in late December, only to crash, along with the rest of the market, just a few days later, Dec. 22, when Bitcoin and altcoins lost 20-30 percent.

Since then, the leading cryptocurrency has yet to fully recover, hovering roughly between $10-$15,000 per coin, until this yesterday’s multi-month lows under $8000.

The entire month of January saw a market sell off, in part due to increased regulatory news from South Korea – and misleading reporting on it – that left many investors fearful.

 

Author Jon Buck

 

Posted by David Ogden Entrepreneur
David Ogden Cryptocurrency Entrepreneur

Alan Zibluk – Markethive Founding Member

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Bitcoin, Ripple, And Litecoin Sell-off – What’s Different This Time Around

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Bitcoin, Ripple, And Litecoin Sell-off - What's Different This Time Around

Bitcoin, Ripple, And Litecoin Sell-off – What's Different This Time Around

The current sell-off in Bitcoin, Ripple, Litecoin, and other cryptocurrencies may have a long way to go before it’s over. For a “technical” reason: it’s broad, extending from major currencies to the smaller ones.

When Bitcoin dropped close to 40% back in the middle of December, Ripple rallied, quadrupling in value in just a few days. The rally quickly spread to Ethereum, Litecoin, NEM, Siacoin and Bytecoin, and other cryptocurrencies.

Then, as Ripple and other cryptocurrencies sold off a couple of weeks later, Bitcoin rallied.

There’s a good explanation behind the rotation among cryptocurrencies. Some cryptocurrency exchanges require Bitcoins to pay for coin transactions. So investors who already owned Bitcoins had to sell them to pay for those transactions.

Rotation from one coin to another isn’t new to investing. It has been applied on Wall Street for years, where investors rotate funds between “defensive” and “cyclical stocks,” at times when interest rates, i.e. the “opportunity cost” of money, remain low.

That’s bullish for stocks, because it confirms that money is staying within this asset class rather than moving back into money market investments.

And that was a bullish sign for cryptocurrencies back then, too.

But that’s not what is happening this time around. With the exception of Ethereum, all major cryptocurrencies are down simultaneously. In the last seven days, Bitcoin is down 10.10%, Ripple is down 17.23%, and Litecoin is down 10.40%; and all are 50% or more below their all-time high back in December.

Table 1


Seven-Day Price Change For Major Cryptocurrencies

Source:Coinmarketcap.com 1/31/18 at 1.30pm

Worse, the sell-off has been extending across the entire cryptocurrency list—see table.

 

Table 2


Source: Coinmarketcap.com1/31/18 at 1.30pm

This means that money getting out of major cryptocurrencies isn’t being plowed back into other cryptocurrencies. It is leaving the entire asset class.

That’s bearish for all cryptocurrencies.

And that’s what’s different with the sell-off in major cryptocurrencies this time around.

 

Panos Mourdoukoutas , CONTRIBUTOR

David Ogden Entrepreneur
David Ogden Cryptocurrency Entrepreneur

Alan Zibluk – Markethive Founding Member

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Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, NEM, Cardano – Price Analysis, Jan. 25

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Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, NEM, Cardano - Price Analysis, Jan. 25

Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, NEM, Cardano – Price Analysis, Jan. 25

The massive upwards movement in cryptocurrencies over 2017 has not gone unnoticed. The participants at the World Economic Forum (WEF) in Davos are being questioned about cryptocurrencies and Cointelegraph has been one of the main voices representing the fraternity.

The traditional investors are still not willing to accept the rising clout of the cryptocurrencies and are pushing for tighter regulation. Only recently, Nordea Bank banned its employees from owning Bitcoin by Feb. 28. However, this move is facing strong opposition from the large unions.

Even the fears of a cryptocurrency ban by South Korea gathered a massive petition opposing the move. Finally, the Korean government only banned the traders from using anonymous bank accounts for cryptocurrency trading.

The classical investors and regulators fail to understand that these kinds of bans are unlikely to dent the popularity of the cryptocurrencies.

 

BTC/USD

Bitcoin is currently in no man’s land. It is facing resistance at the down trendline one. If the bulls succeed in breaking out of this resistance, we can expect a rally towards the down trendline two. Aggressive traders can trade this pullback.

Others should wait for a confirmation of a bottom formation because, if the bulls fail to sustain above the down trendline one, the likelihood of $10,000 levels breakdown increases.

Unlike the previous falls, this time, the BTC/USD pair is struggling to hold on to higher levels. With the price quoting below both the 20-day EMA and the 50-day EMA, the trend remains down to range bound.

The downtrend will reassert itself if the price breaks down to $10,000 levels. So, the swing traders should wait and watch for the next few days for the trend to change from down to up before initiating any long positions.

 

ETH/USD

Ethereum is in a pullback in an uptrend because it is still quoting above both the 20-day EMA and the 50-day SMA. Additionally, it has successfully held on to the uptrend line, which is another positive sign.

But the 20-day EMA has flattened out, which points to a range bound trading action for the next few days. The support of the range is likely to be at $900 levels, whereas, the resistance will be at $1,160 levels.

The ETH/USD pair will become negative only after it breaks down of the trendline and the 50-day SMA, which is at $845.

Long positions for the medium-term can be initiated on dips to $1,000 levels, with a stop loss at $840. We believe that if the 50-day SMA holds, the cryptocurrency will attempt to resume its uptrend and rally to the highs. This is a risky trade, hence, please keep the position size small.

 

BCH/USD

The traders, both the bulls and the bears, are not taking any keen interest in Bitcoin Cash. As a result, it has been trading in a small range since Jan. 23.

Support on the downside exists at the Jan. 17 low, $1,364.9657. On the upside, as the moving averages have completed bearish crossover, the 20-day EMA is likely to act as a resistance. Additionally, the $2,072 levels and the downtrend line will also act as a strong overhead resistance.

We don’t find any tradable setup on the BCH/USD pair.

 

XRP/USD

Ripple has formed a doji candlestick pattern on both Jan. 23 and Jan. 24. Even the price action currently points to a very small range day.

As forecast in our previous analysis, the XRP/USD pair is likely to remain range bound between $0.87 and $1.74. A trading opportunity will pop up only if the supports of the range hold or if the cryptocurrency breaks out of the overhead resistance. We should wait until then.

 

IOTA/USD

IOTA’s range has been shrinking for the past two days. It has formed successive inside day candlestick patterns on Jan. 23 and Jan. 24. Today, it is trying to resume the downtrend.

On the downside, support exists at $1.9232 levels. If this breaks, the IOTA/USD pair can extend its losses to the Dec. 22 low of $1.1.

The first signs of a recovery will be seen once the price breaks out of $3.032 and the down trendline of the descending triangle.

If the support and the overhead resistance levels hold, we may see a few days of range bound action.

 

LTC/USD

Litecoin has held on to the critical support level of $175.199. However, the bounce doesn’t have any strength, which shows a lack of interest in buyers.

If the bears succeed in breaking down the supports, a fall to $140.001 is likely.

On the other hand, the first signs of a recovery will be on a breakout above $215 levels.

Aggressive traders can buy the LTC/USD pair at $187, which is just above the high of past couple of days. The stop loss for the trade can be kept at $163 and the target objective is $215.

However, this is a very risky trade, hence, please place it only with less than 50 percent of the usual allocation.

 

XEM/USD

NEM has held on to the 0.86 levels for the past few days, but the bulls are unable to push prices above the down trendline.

This is likely to lead to another attempt to break down of $0.86 within a couple of days. If the bears succeed, a fall to the Jan. 16 lows of $0.55134 is likely. The 20-day EMA has turned down and is likely to complete a bearish crossover if the support breaks.

We don’t find any bullish setups on the XEM/USD pair with price trading below the trendline and both the moving averages. A change in trend will be signaled once it rallies above $1.21.

 

ADA/BTC

Cardano is again attempting to break out of the 0.00006 levels. If successful, it is likely to rally to the overhead resistance at 0.00006915. A very short-term trader can buy at 0.00006 with a stop loss of 0.00005. This is a risky trade, hence, please attempt it with less than 50 percent of the usual position size.

Swing traders should wait for a breakout of the 0.00006915 levels to initiate any long positions. We believe that unless the sentiment turns bullish for the cryptocurrencies, the ADA/BTC pair will find it difficult to breakout of the overhead resistance and may drift down to 0.000047 to 0.000049 levels again, which can be a good level to initiate long positions.

 

Author Rakesh Upadhyay

 

Posted By David Ogden  Entrepreneur

Alan Zibluk – Markethive Founding Member

Markethive

Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, NEM, Cardano – Price Analysis, Jan. 23

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Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, NEM, Cardano - Price Analysis, Jan. 23

Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, NEM, Cardano – Price Analysis, Jan. 23

When the markets are bullish, a lot of traders only focus on high target levels. This leads to a left out feeling among the ones who have missed out on the rally, and they rush to buy at elevated levels. This results in a huge loss of capital to the uninformed traders.

The opposite works when the market falls. One starts to hear bearish voices with the analysts forecasting apocalypse and novice traders get scared and dump their holdings. They buy when they should be selling and sell when they should be buying.

Hence, it is always better to take these forecasts with a pinch of salt. We, therefore, avoid giving unrealistic target levels to our readers and try to keep them on the right side of the trade.
 

BTC/USD

In our previous analysis, we had predicted that Bitcoin would turn down from the $13,202 levels and that is what happened. The cryptocurrency topped out at $12,988.89 on Jan. 20. It is currently retesting the critical support zone of $10,704.99 to $9,300.

For the past two days, the bulls are defending the $10,000 levels. If this level holds, we may see another attempt to pull back. The trend will turn positive in the short-term only when the BTC/USD pair breaks out of the down trendline 1.

This trade should be taken with only 50 percent allocation because on the way up, Bitcoin will face resistance at the neckline of the head and shoulders pattern and at the down trendline 2.

On the downside, a break of $10,000 is likely to hurt sentiment, resulting in a decline to $8,000 levels.
 

ETH/USD

We had forecast a rally to $1174.36, which is the 61.8 percent Fibonacci retracement level of the recent fall from $1424 to $770 and Ethereum topped out at $1,160 on Jan 20.

The price has returned to the trendline support, which has offered strong support since Dec. 10.

The bulls have been attempting to hold the trendline support for the past two days. We believe the support zone between $900 and $845 is likely to be defended strongly by the bulls. The ETH/USD pair will indicate a change in trend only after it breaks out of the down trendline.

If the above-mentioned support zone breaks, the decline can extend to $770 levels. We don’t find any buy setups; hence, we are not suggesting any trade on it.

 

BCH/USD

In our previous analysis, we had anticipated Bitcoin Cash to return from the $2,072 levels, and it topped out at $2,112.11 on Jan. 20.

The moving average has completed a bearish crossover, and the price is quoting below the 20-day EMA and the 50-day SMA; which is advantageous to bears. If the retest of the recent lows at $1364.96 fails, a fall to $1194 is likely.

If the bulls defend the $1364.96 levels, the BCH/USD pair is likely to become range-bound for a few days.

As the trend is still down, we are not suggesting any trade on it.
 

XRP/USD

Ripple returned from the 20-day EMA on Jan. 18. It currently has support at the $0.87 levels.

We believe that the XRP/USD pair will become range bound for the next few days between the support of $0.87 and the resistance of $1.74.

We shall wait for a breakout above the overhead resistance to initiate any long positions. On the downside, though we expect the $0.87 to hold, it might be reasonable to wait for a bounce before buying. As the trading inside the range is likely to be volatile, we shall only try to buy closer to the supports.

IOTA/USD

We had mentioned that $3.032 is the critical level for IOTA and a failure to break out above it will attract another bout of selling and that is what happened.

The cryptocurrency is currently attempting to hold the Jan. 16 low of $1.923. If the bears succeed in breaking down this support, a fall to the lows of Dec. 22 of $1.10 is likely.

If the bulls hold the $1.923 levels, the IOTA/USD pair is likely to remain range bound for the next few days. It will become positive only if the price breaks out of the down trendline of the descending triangle.
 

LTC/USD

Litecoin broke above $205, but could not reach $225, as we had expected. It turned down from $214.48 levels on Jan. 20.

The bears are trying to break down of the critical support level of $175.19. If successful, a fall to $140 is likely.

In the short-term, the first sign of bullishness will be when the LTC/USD pair breaks out of $215. Currently, we don’t find any trade set up on it.
 

XEM/USD

On Jan. 20 and Jan. 21, the bulls could not sustain above the downtrend line. As a result, NEM has resumed its decline.

Currently, the bulls are attempting to hold the $0.86 level. If this breaks, a fall to the Jan. 16 lows of $0.551 is likely.

On the upside, the down trendline is likely to offer strong resistance. The first signs of bullishness will be when price breaks out of the $1.21 levels.

We don’t find any trade setups on the XEM/USD pair.
 

ADA/BTC

Cardano could not break out of the 0.00006 levels. It is now likely to gradually fall to the support levels of 0.000047, and after that to 0.00004070.

For the next few days, we expect the ADA/BTC pair to remain range bound between 0.00004070 on the downside and 0.00006915 on the upside.

We shall wait for the pair to bounce from one of the support levels before initiating any trade. At the present levels, we don’t find any bullish setups on it.

 

 

Author: Rakesh Upadhyay

 

Posted By David Ogden Entrepreneur
David ogden Cryptocurrency Entrepreneur

Alan Zibluk – Markethive Founding Member

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The Bull And The Bear Case For Bitcoin, Ethereum, Ripple, Litecoin, And Other Cryptocurrencies

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The Bull And The Bear Case For Bitcoin, Ethereum, Ripple, Litecoin, And Other Cryptocurrencies

bull or bear market

The Bull And The Bear Case For Bitcoin, Ethereum, Ripple, Litecoin, And Other Cryptocurrencies

There have been better days and worse days for Bitcoin, Ethereum, Ripple, Litecoin, and other cryptocurrencies.

The better days were back in November and December when a “virtuous” rotation helped spread the rally from Bitcoin to other cryptocurrencies. This means that funds cashed out from one currency were invested in other currencies.

That’s a bullish "technical" sign for cryptocurrencies, as it keeps the momentum for the sector alive.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. Disclosure: I don't own any cryptocoins or tokens.]

The worse days were early this week when the sell-off in major cryptocurrencies spread across the entire sector. This means that money cashed out from one cryptocurrency didn’t flow to other cryptocurrencies, but moved to cash or to other investments.

And that’s a bearish sign for cryptocurrencies, as it undermines the momentum for the sector.

Apparently, momentum is changing very fast in cryptocurrencies, much faster than in other asset classes.

That’s why technical analysis alone may not be a reliable indicator for trying to guess the direction of the cryptocurrency markets.

What about fundamental analysis?

For the vast majority of cryptocurrencies there are no fundamentals to talk about, other than a website with a message that promises to make capitalism better.

 

For major cryptocurrencies like Bitcoin, there’s some information to make both a bullish and a bearish case.

 

The bullish case is about the advantages Bitcoin has a “headless” currency. "Increasingly widely accepted as a means of payment with no bank intermediation and absolutely no fees, Bitcoin has some of the attributes of a headless currency,” says Eric Pichet, a KEDGE professor.

 

Then there’s the rarity of the cryptocurrency and the low ownership rate, which explain its price spike, and the potential for further gains. “The relative rarity of the virtual product explains its rise in large part because only 0.01% of the world population own any,” adds Pichet. “Therefore, one can imagine the effect on its trading price if the primary cause of speculative bubbles, namely FOMO (Fear Of Missing Out) were to spread to a mere 1% of the world population, or 100 times more holders.”

 

The bearish scenario centers on two major threats which cryptocurrencies face. One of them is an intrusion in the blockchain system and the circulation of fake coins. Another threat is a concerted effort by governments around the world to ban their use.

 

 

As Eric Pichet concludes, "Under these conditions, what type of needles would burst the bubble? The first would be the heist of the century: an intrusion in the blockchain system that created a deluge of fake bitcoins. The second would be the adoption of a common position by all national governments and central banks to prohibit this means of payment in the name of fighting fraud, for example.”

 

 

Author Panos Mourdoukoutas

 

Posted By David Ogden Entrepreneur
David ogden Cryptocurrency Entrepreneur

Alan Zibluk – Markethive Founding Member

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Bitcoin tax loophole could save cryptocurrency investors millions as it leaves HMRC short

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Bitcoin tax loophole could save cryptocurrency investors millions as it leaves HMRC short

Bitcoin tax loophole could save cryptocurrency investors millions as it leaves HMRC short

MILLIONS of pounds could be lost by the Treasury after a tax loophole was revealed and cryptocurrency investors are expected to take full advantage of the gap, experts warn.

The massive loophole allows investors, who could have made millions when bitcoin hit its $19,343 (£14,000) high in December, to declare their returns as gambling winnings.

Winnings from gambling are generally not considered investment returns and so avoid taxation, leaving HMRC with the potential of a huge blackhole in its returns following a year of cryptocurrency boom.

An HMRC spokesman said: “We don’t normally tax betting and gambling because it is usually not classed as trading income.

“But there may be circumstances where factors such as the degree of skill and organisation would make the activity more likely to be taxable as trading income. Each case will depend on its own facts.”

The approach of the HMRC to cryptocurrency returns has been branded outdated by experts.

The rules are expected to confuse amateur investors as they leave it unclear who should be characterised as a gambler and who should fall into the taxable bracket of investor, barrister Etienne Wong claimed.

The current guidelines have not been updated since 2014 when bitcoin was worth less than £500, today a single coin will cost a trader £9,125.

According to the three year old guidelines cryptocurrencies users who buy and sell coins in a similar way to an investment are required to pay capital gains tax.

If someone is deemed to fit this description they will be forced to pay 18 per cent tax on any money over £11,300 if they pay basic-rate tax and 28 per cent if they are a high rate taxpayer.

crypto tax

Robert Langston of Saffery Champness has told cryptocurrency users to declare themselves as investors leaving them more likely to pay tax.

He said: "It is difficult to see how the profits on mainstream cryptocurrencies such as Bitcoin could be seen as gambling profits".

"There may conceivably be some cryptocurrencies in which the markets are random, and therefore the profits could be treated as gambling."

Mr Langston has claimed that even if use is deemed gambling because investors are gaining an asset and not cash it remains taxable.

Revelations about the loophole come as investors have been warned that regulation of cybercurrency is on its way.

Crypto prices could be under threat after two of Europe’s most powerful leaders have joined efforts to regulate the speculative cryptocurrency.

German Chancellor Angela Merkel met French President Emmanuel Macron to discuss regulating bitcoin after it was suggested that the token is “a risk for financial stability”.

Bitcoin prices suffered a crushing blow this week after South Korean regulators threatened to ban crypto trading, plummeting $83billion (£59.8billion) in value between Monday and Thursday alone.

Bitcoin investors now fear further regulation in Europe could adversely impact prices, which were trading at more than $12,700 (£9,163.43) at 11am GMT on January 20.

Yves Mersch, member of the Executive Board of the European Central Bank, sparked concern last December after suggesting that bitcoin could become a genuine threat to finance.

He said: “Second, there are now banks which hold positions in bitcoin. It is a matter for the supervisors to judge how big the risks are.

“Third, and what concerns me most, is when financial market infrastructures such as stock exchanges enter this business. That poses a major threat to financial stability.”

But investors are now fearful that increased regulation could damage or even kill the bitcoin bubble.

 

By TARYN TARRANT-CORNISH UPDATED: 01:20, Sun, Jan 21, 2018

 

David Ogden Entrepreneur

Alan Zibluk – Markethive Founding Member

Markethive

Price Analysis, Jan. 19 – Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, NEM, Cardano

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Price Analysis, Jan. 19 - Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, NEM, Cardano

Price Analysis, Jan. 19 – Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, NEM, Cardano

After a sharp fall, the aggressive bulls jump in and buy at lower levels. This strategy has resulted in huge gains for the cryptocurrency traders in 2017. However, unlike previous occasions, we have not seen a sharp rise this time. This shows that the traders are not confident of a huge rally from the current prices.

In the next few days, we expect a range bound action in most of the top cryptocurrencies.

BTC/USD

We had expected a pullback from the $10,704.99 levels. But Bitcoin overshot on the downside and fell to $9,300 levels.

Currently, the bulls are attempting a reversal, which is likely to carry the cryptocurrency to the neckline of the head and shoulders pattern at $13,202 levels.

We expect another round of selling from those levels, which is likely to sink the BTC/USD pair back to the support zone of $10,704.99 to $9,300. If this support zone breaks, a fall below $8,000 is likely.

On the other hand, if the bulls succeed in holding the support zone, it will lead to a start of a new uptrend. Nimble-footed traders can play the rise, but others should wait for more clarity to develop.

 

ETH/USD

We expected the support zone between the trendline and $940 to hold. On Jan. 17, Ethereum broke below the trendline and fell to a low of $770.

The bulls bought the dip aggressively, which has resulted in a pullback that carried the cryptocurrency towards the 50 percent Fibonacci retracement levels of the recent fall from $1424 to $770.

For the past three days, the ETH/USD pair has been struggling to cross above $1097. If the price breaks out of the $1100 levels, we expect a move to $1174.36 and $1284.28 levels. As the stop loss is $930, which doesn’t offer a good risk to reward ratio, we are not suggesting any trade on it.

 

BCH/USD

We expected the $1733 levels to hold. Still, the bears easily broke through it and Bitcoin Cash fell to a low of $1364.96 on Jan. 18.

The current increase is likely to face resistance at the $2072 levels, which was the support of the range previously. We shall get a confirmation of a bottom during the next downturn. If $1364.96 breaks, a fall to $1194 is likely.

Our bearish view will be invalidated if the BCH/USD pair sustains above $2072 for a day.

 

XRP/USD

We had forecast a fall to 61.8 percent Fibonacci retracement levels of the latest rally, however, Ripple fell close to the 78.6 percent retracement levels, which coincided with the lower end of the descending channel.

The cryptocurrency has broken out of the descending channel, which suggests that the downtrend is over. However, the present increase is facing resistance at the 20-day EMA, above which a move to $2.20 is likely. At that price, the XRP/USD pair will face resistance from the trendline that had previously acted as a strong support.

However, if the cryptocurrency fails to break above the 20-day EMA, the bears will attempt to resume the downtrend. Support lies at $0.87.

We expect a few days of range bound trading.

 

IOTA/USD

IOTA broke down of the bearish descending triangle pattern on January 16, which gives it a pattern target of $1.10.

However, the cryptocurrency took support at $1.93 levels on Jan. 17.

Currently, the IOTA/USD pair is retesting the breakout levels of $3.032. If the bulls breakout of the overhead resistance and the downtrend line, our bearish view will be invalidated.

However, if the bears defend the $3.032 levels, we are likely to see another bout of selling, which will retest the lows.

We don’t find any clear pattern; hence, we are not recommending any trade.

 

LTC/USD

We had forecast a likely fall to $100 if Litecoin broke below $175.19. It rose from a low of $140.00 on Jan. 17.

For two days in a row, Jan. 16 and Jan. 17, the bears broke down below $175.19 but were unsuccessful in holding prices down.

If the bulls breakout of $205, a move to $225 is likely, where both the moving averages converge. This level is likely to act as a resistance.

We don’t find any reasonable trades on LTC/USD pair.

 

XEM/USD

NEM fell close to the 78.6 percent retracement levels on Jan. 16 and Jan. 17. Thereafter, the bulls have commenced a pullback, which is likely to face a strong resistance at the downward trendline.

If the price moves above the downtrend line, an increase to $1.45 can’t be ruled out.

The next fall towards the recent lows of $0.55134 will confirm whether the bottom is in place or is there further to go.

Until then, we shall remain on the sidelines on the XEM/USD pair.

ADA/BTC

 

Cardano broke below the trendline support on Jan. 16 and Jan. 17, however, the bulls defended the support and pushed prices higher quickly.

The ADA/BTC pair broke out of the downtrend line yesterday, Jan. 18, however, it could not pick up momentum. It is struggling to rally above 0.00006. Once bulls breakout of 0.00006, a move to 0.00007 and thereafter to the 0.00008 levels is likely.

The cryptocurrency pair will become negative below 0.00004730.

 

Author: Rakesh Upadhyay

 

Posted by David Ogden Entrepreneur

 

 

Alan Zibluk – Markethive Founding Member