Bitcoin

Technical Analysis of Bitcoin

May has been a very positive month for the cryptocurrency market so far, the price of Bitcoin is above $8 600 and this is certainly a positive thing for all other cryptos. In less than thirty days the price of Bitcoin has advanced from $5 400 to $8 958 and the current price stands around $8680. There is a positive correlation between the price movements of Bitcoin and other cryptocurrencies and as long the price of Bitcoins is above $ 7 000 the current positive trend remains intact. The highest price of Bitcoin was above $19 000, a number of reasons have pushed Bitcoin to record highs, such as legalization of the currency in Japan for payments, boosted interest from other big countries, as well as the conclusion of a debate about the future of the cryptocurrency. When we look at the 1-year chart we can see that Bitcoin is moving in “downtrend”.  Short term support and resistance levels are $ 8000 and $9 000 – If the Bitcoin jumps above $9 000 that would be a “BUY” signal and the open way to $9 500. If the Bitcoin jumps above  $10 000 that could be a strong signal of the trend reversal and the open way to $12 000. On the other side, if the BTC falls below $7 000 that will be a strong signal “SELL” signal and the next target could be around $6 000 or even $5 500.

Advice: The price of Bitcoin currently stands around $8 680 and there is a correlation between the price movements of Bitcoin and other cryptocurrencies. This is a highly speculative cryptocurrency and still very risky, I also think that there are lots of other cryptocurrencies with bigger potential and with less risk. It is important to do a lot of research and try to identify those currencies which are likely to fit together in an overall ecosystem, rather than trying to pick a single winner. As for the technical picture, if the price advances above $10 000, short-term traders can enter the position with the stop loss at $9 600 and take profit at $11 000 or even $12 000.

Technical Analysis of Bitcoin

Bitcoin is one of the best performers on the cryptocurrency market in the last several days, in less than five days the price of Bitcoin has advanced from $5 077 to $5 823. The beginning of May has been very positive for the cryptocurrency market so far, the price of Bitcoin is above $5 700 and this is certainly a positive thing for all other cryptos. Bitcoin is the first cryptocurrency to have existed and receive wide acceptance, it enjoys the support of both developers and users communities. Bitcoin cannot be stopped by the “hardfork” and this cryptocurrency can be accessed by everyone on the internet. The highest price of Bitcoin was above $19 000, a number of reasons have pushed Bitcoin to record highs, such as legalization of the currency in Japan for payments, boosted interest from other big countries, as well as the conclusion of a debate about the future of the cryptocurrency. When we look at the 1-year chart we can see that Bitcoin is moving in “downtrend”.  Short term support and resistance levels are $ 5 000 and $6 000 – If the Bitcoin jumps above $6 000 that would be a “BUY” signal and the open way to $7 000. If the Bitcoin jumps above  $10 000 that could be a strong signal of the trend reversal and the open way to $12 000. On the other side, if the BTC falls below $4 500 that will be a strong signal “SELL” signal and the next target could be around $4 000 or even $3 500.

Advice: The price of Bitcoin currently stands around $5 730 and there is a correlation between the price movements of Bitcoin and other cryptocurrencies. This is a highly speculative cryptocurrency and still very risky, I also think that there are lots of other cryptocurrencies with bigger potential and with less risk. As for the technical picture, the Bitcoin remains in bearish phase but if the price advances above $6 000, short-term traders can enter the position with the stop loss at $5 800 and take profit at $6 800 or even $7 000.

Technical Analysis of Bitcoin

The beginning of April has been very positive for the cryptocurrency market so far, the price of Bitcoin is above $5000 and this is certainly a positive thing for all other cryptos. Bitcoin is the first cryptocurrency to have existed and receive wide acceptance, it enjoys the support of both developers and users communities. Bitcoin cannot be stopped by the “hardfork” and this cryptocurrency can be accessed by everyone on the internet. This is a highly speculative cryptocurrency and still very risky, I also think that there are lots of other cryptocurrencies with bigger potential and with less risk. When we look at the 1-year chart we can see that Bitcoin is moving in “downtrend”.  Short term support and resistance levels are $ 5000 and $6 000 – If the Bitcoin jumps above $6 000 that would be a “BUY” signal and the open way to $7 000. If the Bitcoin jumps above  $10 000 that could be a strong signal of the trend reversal and the open way to $12 000. On the other side, if the BTC falls below $4 500 that will be a strong signal “SELL” signal and the next target could be around $4 000 or even $3 500.

Advice: The price of Bitcoin currently stands around $5 140 and there is a correlation between the price movements of Bitcoin and other cryptocurrencies. Investors who decided to invest in the Bitcoin when the trading was at its tiny fraction when compared to the highest price of this cryptocurrency, made the highest profit you could ever think of. The beginning of April has been very positive for the cryptocurrency market but all major cryptocurrencies are still under the pressure. As for the technical picture, the Bitcoin remains in bearish phase but if the price advances above $6 000, short-term traders can enter the position with the stop loss at $5 800 and take profit at $6 800 or even $7 000.

Technical Analysis of Bitcoin

The price of Bitcoin is again above $4000 but the cryptocurrency market is still under the pressure and for now, the “bearish” trend remains intact. Bitcoin is the first cryptocurrency to have existed and receive wide acceptance, it enjoys the support of both developers and users communities. Bitcoin cannot be stopped by the “hardfork” and this cryptocurrency can be accessed by everyone on the internet. The highest price of Bitcoin was above $19 000, a number of reasons have pushed Bitcoin to record highs, such as legalization of the currency in Japan for payments, boosted interest from other big countries, as well as the conclusion of a debate about the future of the cryptocurrency. When we look at the 1-year chart we can see that Bitcoin is moving in “downtrend”.  Short term support and resistance levels are $3 500 and $4 500 – If the Bitcoin jumps above $5 000 that would be a “BUY” signal and the open way to $6 000. If the Bitcoin jumps above  $10 000 that could be a strong signal of the trend reversal and the open way to $12 000. On the other side, if the BTC falls below $3 500 that will be a strong signal “SELL” signal and the next target could be around $3 000 or even $2 500.

Advice: The price of Bitcoin has been in the “bearish” phase since January 2018 but we can not say that the lowest price in December 2018 is the end of this phase. This is a highly speculative cryptocurrency and still very risky, I also think that there are lots of other cryptocurrencies with bigger potential and with less risk. As for the technical picture, the Bitcoin remains in bearish phase but if the price advances above $5 000, short-term traders can enter the position with the stop loss at $4 800 and take profit at $5 800 or even $6 000.

Technical Analysis of Bitcoin

Bitcoin is the first cryptocurrency to have existed and receive wide acceptance, it enjoys the support of both developers and users communities. Bitcoin cannot be stopped by the “hardfork” and this cryptocurrency can be accessed by everyone on the internet. The highest price of Bitcoin was above $19 000, a number of reasons have pushed Bitcoin to record highs, such as legalization of the currency in Japan for payments, boosted interest from other big countries, as well as the conclusion of a debate about the future of the cryptocurrency. The price of Bitcoin has been in the “bearish” phase since January 2018 but we can not say that the lowest price in December 2018 is the end of this phase. This is a highly speculative cryptocurrency and still very risky, I also think that there are lots of other cryptocurrencies with bigger potential and with less risk. When we look at the 1-year chart we can see that Bitcoin is moving in “downtrend”.  Short term support and resistance levels are $3 500 and $4 000 – If the Bitcoin jumps above $5 000 that would be a “BUY” signal and the open way to $6 000. If the Bitcoin jumps above  $10 000 that could be a strong signal of the trend reversal and the open way to $12 000. On the other side, if the BTC falls below $3 500 that will be a strong signal “SELL” signal and the next target could be around $3 000 or even $2 500.

Advice: The price of Bitcoin is still below $4 000 and this is certainly not a good sign for the cryptocurrency market. Investors who decided to invest in the Bitcoin when the trading was at its tiny fraction when compared to the highest price of this cryptocurrency, made the highest profit you could ever think of. The beginning of the 2019 year has been very negative for the cryptocurrency market and all major cryptocurrencies are still under the pressure. As for the technical picture, the Bitcoin remains in bearish phase but if the price advances above $6 000, short-term traders can enter the position with the stop loss at $5 800 and take profit at $6 800 or even $7 000.

UNIT-E: THE CRYPTO TO END BITCOIN’S REIGN

One of the bragging right of Cardano as a cryptocurrency is hinged on the fact that it has academicians on its team. But the news out there might just this bragging right, as some of the brightest minds in America’s educational sector have reportedly come together to birth forth a cryptocurrency and a blockchain technology that will be able to process transactions in their thousands.
Yes, you read that right. Professors from seven different colleges in the United State have teamed up in an attempt to create a crypto coin that will allegedly knock Satoshi Nakamato’s Bitcoin of the throne of the cryptocurrency market. The name of the cryptocurrency is called Unite-E and the academic homes of these professors are Massachusetts Institute of Technology, University of California, Berkeley University and Stanford University. The Unit-E is the first of its kind, an initiative of a swizz based non-profit organization (Distributed Technology Research) that was formed by academicians, with major financiers being Pantera Capital Management. The aim of this organization is to develop decentralized technologies, thereby decentralizing the future.

HOW CAN IT END BITCOIN?

Most people are wondering why this cryptocurrency is aiming at overtaking Bitcoin as the team behind it has frequently directed cryptic shades at the suppose king of cryptocurrency. Bitcoin as we all know is the first cryptocurrency, the first blockchain technology that enabled transactions between two parties without the need of a third party or a central authority. But even with the boom in cryptocurrency market and the introduction of various altcoins, and the widespread of the blockchain technology among developers, the cryptocurrency project is yet to be adopted fully.
One of the limitation of Bitcoin as a payment network is the time it takes for blocks to be created. This coupled with a whole lot of others have contributed in the drastic reduction of using Bitcoin as payment option. This is what these professors hope to tackle, a cryptocurrency project that can process transactions at a rate that is even faster than Visa.
Distributed Technology Research (DTR) announced of its plans to launch this cryptocurrency in the second half of 2019. No test records have been given yet but going by their words, the transaction per seconds is out of this world. The fastest cryptocurrency transaction per second recorded is 8. But these academicians are claiming a transaction of 10,000 per seconds. Visa, which is by the way not a decentralized network processes 1,700 transactions per seconds. How on earth are they planning on achieving this speed?
Actually, DTR in an attempt to achieve a higher speed in Unit-E had to deconstruct the blockchain technology which is known and is used by most cryptocurrencies, then they worked on improving every single element of it. They have however published their research on their study on the elements, and they are relying on innovative mechanisms they have designed to reach a consensus. They are also working on creating new ways of sharding and new payment networks in order to reach their target speed.
In my honest opinion, saying that Unit-E will end Bitcoin’s reign simply because of transaction speed has no ground. It can end Bitcoin as a payment network, but definitely not in terms of market capitalization. On a lighter note though, Bitcoin have seen altcoins coming into the market that promises a faster transaction rate and it still remains king. But if Unit-E is built properly, probably with institutional backing, it is definitely going to give Bitcoin a run for its money. 10,000 transactions per second.
 

WHAT NEXT?

Unite-E is not the first cryptocurrency innovation that has been announced to be working on transaction speed. The crypto sphere is well aware of the problem of transaction speed, this is why projects like Lighting Network and Segregated Wintness have emerged, with promises and designs to make transactions faster. But then the promise of DRT is still doubtful, and if this coin is eventually launched, the coin will still have to battle its way up in the market capitalization index. So, I believe it is way to early to say that this cryptocurrency from a group of professors will outshine Bitcoin in the nearest future.

2019 FOR BITCOIN

The cryptocurrency industry performed nothing less than wonder in 2017. But, 2018 proved to be a troubling one for the industry of cryptocurrency. But regardless of the falls faced last year, we talked trust that 2019 is a promising year for the cryptocurrency sector.
Even though the presence of all the losses in this industry lead few to doubt the future promises of cryptocurrencies, the upcoming year is surely going to be one of the trends changing and up heading year for the industry of blockchain. Various factors related to cryptocurrencies are changing and these factors are promising a positive impact on the market in the upcoming year. So, let’s have a glance at the future predictions of cryptocurrency having a positive impact in 2019.

Expectations in 2019

Blockchain stocks did not’t appear to be doing well last year, The reason was the low interest of companies toward it. But by the end of last year, the situation changed dramatically. Nowadays, most of the companies are spending or budgeting huge amounts of money on blockchain initiatives, also, the amount and trend are continuously increasing. According to a survey, the demand related to blockchain services is expected to be around $1.7 billion in 2019 alone and by 2022, it could reach about $12 billion!
 

Recoveries

We believe bitcoin is heading for a major recovery
Generally, lots of analysts in the cryptocurrency space expect the correction of the asset class to be extended throughout the first half of this year. And it is no news that Since November 2017, Bitcoin has shown a lack of momentum, it has been struggling to break out of key resistance levels in the $5,000 – $6,000 range. But we strongly believe that it would surpass that this year.
Even if the price of Bitcoin and other crypto assets might continue to decline substantially in the first two quarters of 2019, crypto-enthusiasts see the market massively recovering by the end of 2019. The lack of strength in the short-term trend of the dominant cryptocurrency led other digital assets, especially cryptocurrencies with low market caps and volumes, to perform poorly against the U.S. dollar.
In the latter half of 2019, one crypto technical analyst said that based on the historical price movement of Bitcoin, the asset could demonstrate large gains in 10 to 12 months.
‘The future lies in the study of the past’ he says. “We are approaching the 420th day mark which ended the 2015 bear market and if history repeats itself, we will be moving toward several months of accumulation and a new bull cycle starting late 2019. From history, Bitcoin has taken on average a 62 weeks period to recover from an 85 percent correction throughout the past nine years. 15 months since the start of the bear market in January would be March of this year.
The normal trends of the crypto market continue, as institutional money will finally enter into cryptocurrency in this year. The sign of entrance of this money in the market began to be felt in the last months of 2018 and surely in 2019, this will take place. Various kind of cryptocurrency investment platform for institutional money is already present in the market whereas a huge number of such platforms are under development with additional features. Institutions seem to be more interested in cryptocurrencies rather than the retailers. However, they were not having a sufficient amount of efficient investments platforms to perform. The existing tools were not so good to meet their security expectations. While 2019 has already given birth to a lot of such platforms, the share of institutional money in the crypto industry is surely going to be a huge one. The no. of transactions in the crypto market is increasing considerably. The capable software developers are providing easier and secure platforms for these transactions. These signs altogether indicate that 2019 could be that year of entry of institutional money into the market and would ignite the down valued loss of the crypto industry that it faced in 2018. To wrap this all up, What few people fail to recognize is the fact that, thanks to the 2018 price declines, most of the weakest hands in the market have fallen off. Meanwhile, stronger believers have held firm and even accumulated more Bitcoin.
Moreso, Distributed Ledger Technology has continued to advance, as major progress was made in fixing known deficiencies in first-generation cryptos and overall, the groundwork was laid for a new bull market.
This simply means that in 2019, much as it did after prior bear markets, Bitcoin will again rise up and head for new all-time highs.

Technical Analysis of Bitcoin

The price of Bitcoin is again below $4 000 and this is certainly not a good sign for the cryptocurrency market. In only several hours the price of this cryptocurrency has weakened more than 10% and for now, everything indicates that the price could fall even more. The price of Bitcoin has been in the “bearish” phase since January 2018 but we can not say that the lowest price in December is the end of this phase. This is a highly speculative cryptocurrency and still very risky, I also think that there are lots of other cryptocurrencies with bigger potential and with less risk. Investors who decided to invest in the Bitcoin when the trading was at its tiny fraction when compared to the highest price of this cryptocurrency, made the highest profit you could ever think of. When we look at the 1-year chart we can see that Bitcoin is moving in “downtrend”.  Short term support and resistance levels are $3 500 and $4 000 – If the Bitcoin jumps above $5 000 that would be a “BUY” signal and the open way to $6 000. If the Bitcoin jumps above  $10 000 that could be a strong signal of the trend reversal and the open way to $12 000. On the other side, if the BTC falls below $3 500 that will be a strong signal “SELL” signal and the next target could be around $3 000 or even $2 500.

Advice: Bitcoin is the first cryptocurrency to have existed and receive wide acceptance, it enjoys the support of both developers and users communities. The price of Bitcoin is very unstable but it is true that the price could fall even more. This is a highly speculative cryptocurrency and still very risky, I also think that there are lots of other cryptocurrencies with bigger potential and with less risk. As for the technical picture, the Bitcoin remains in bearish phase but if the price advances above $6 000, short-term traders can enter the position with the stop loss at $5 800 and take profit at $6 800 or even $7 000.
 

WHICH COIN IS SET TO PASS 200% PROFIT MARK IN 2019

The year 2018 was saddled with bearish market, while this has in some ways discouraged a rather considerable amount of investors and blockchain stakeholders, it is imperative to bring to your notice that there is still plenty of greens in the cryptocurrency industry. Also, it is also important that I establish that investors are still trooping into the industry; these are investors that I refer to as people that are not in the industry for a quick profit. So if you are reading this and you are in for a quick profit, this might be beneficial to you. While it is good to invest wisely into a crypto coin that will yield good dividends, it is important that you know that it is not always a roller coaster ride that always go up.
One of the major causes of the bearish market of 018 was the saturation of the cryptocurrency space with different altcoins, giving way for incredibility, frauds and permeability. However, 2019 promises a market capitalization dedicated to eliminating these altcoin projects that shouldn’t have in anyway enter into the cryptocurrency business. This as a result may nullify many initial investments, but it will on a long run increase the worth of cryptocurrency that deserves to be invested in. So, I guess I can comfortably say that 2019 will see the increase of specific, special coins to the 200% profit mark. While the coins that I have given here are strictly based on prediction, I will like to state the fact that these predictions were made with available data.

Ripple (XRP)

On the index of performance, Ripple was sitting at the top in 2017. It growing at an amazing 35,000% profit mark in the year. Over the year 2018, ripple has been involved with hundreds of partnerships with major players in the bank industry. Most experts believe that 2019 for cryptocurrency, is the year of the investment of institutional money. With partnerships with giants like Israel’s GMT, MoneyGram, American Express, EarthPort and Akbank all line,  all indications shows that Ripple is on the forefront in terms of security in the eyes of investors. It is not surprising therefore that Ripple is going to be a good hit in 2019, with over 200% profit mark.

Bitcoin (BTC)

Bitcoin is considered to be the king of cryptocurrency, with over 10 years in the market. Although the past one year have not been that good for the creation of Sahtoshi Nakamato, with it being on the bear market range. Bitcoin remains a strong holder in the market capital, holding more than 50% share. And with all indications showing that a possible expansion is imminent in 2019, it means that Bitcoin will also increase. Bitcoin also remains the most popular cryptocurrency, so it is the first choice of new investors. After it hit a $20,000 highest mark in December 2017, with an averaging price of $3,500 in December 2018, you will agree with me that everything is possible. And among all possibilities, forecasting have favored up to 300% increase.

Binance (BNB)

Binance is currently the biggest cryptocurrency exchange in the world. 2019, from all indications promises even bigger improvements. Binance has continued to attract new investors, especially because it has a token with the most traded coins available in the market. They have a wonderful referral scheme, with easy exchanges. Coupled with the fact that holders of Binance get discounts on trading fees. With all these advantages at its disposal, we are sure looking at a 2019 with a profit margin over 200%.

OmiseGo (OMG)

OmiseGo is a payment terminal, said to be the cryptocurrency version of PayPal. They announced partnerships with the Thai Government this year, making it a probable king in the crypto market space with a government backed advantages. With major operations in Japan, Singapore and Indonesia, OmiseGo is looking forward to taking over the payment platform in 2019, attracting more investors and traders. This it does by helping giving people without bank account the opportunity to get banking services. With a good history so far, you can’t but deny that OmiseGo is coming with a big bang in 2019.

How is Bitcoin Doing these Days?

Bitcoin is unarguably the oldest and the king of cryptocurrency, no wonder it holds more than 50% share in the cryptocurrency market capital. In the wake of 2018, investors had high hopes, especially when it hit an all-time high of $20,000 in December 2017.  Some of the top cryptocurrency investors and forecast experts, basing their predictions on this bullish band rise predicted that in 2018, bitcoin will hit $160,000. However, 2018 have not been so rosy for the creation of Satoshi Nakamoto, as bitcoin has lost its values, currently in its all year low.
 
Staring from the first month of 2018, the currency took a hit in what would eventually lead to series of dips throughout the year. One crypto asset had deflated to $16,000, then it went further low to $12,000. The deflation continued, such that at the half mark of the year, it had lost two-thirds of its value, trading at approximately $6,000. It continued toppling within this range down to the summer of 2018, causing it to be in what is termed transition band. But just when investors thought that was the lowest it could go, it took another dip. In November, it deflated to $3,600 and it inflated to $4,000.

One of the major problems that bitcoin encountered in 2018, that most forecasters didn’t put into consideration is the saturation of the cryptocurrency market. Although it held the largest share of the market throughout the year, there was quite a lot of cryptocurrency that have was introduce in the course of the year. Also, in the first quarter of 2018, the crypto space was saddled with allegations of frauds, theft and consistent hacking. This in turn reduced the credibility of the technology, making investors lose their money and also, causing a reduction in new buyers.. However, experts believe that most of the smaller altcoins that have saturated the space will be valueless in 2019, consequently reducing the saturation of the cryptocurrency space. And with security measures that have been undertaken, the blockchain and cryto wallet features are geared to increase credibility.
Another problem that contributed to the deflation was the unregulated initial coil offerings (ICOs) which have been capitalized on by fraudsters, stealing money worth millions of dollars from investors. However, in 2019, this might change. This is because the Securities and Exchange Commission (SEC) took measurable steps in regulating ICOs, enforcing strict registration processes and providing emergency steps that are to be taken to stop ICOs that are suspected to be misleading information to potential investors.
In the wake of 2018 (December 2017), Bitcoin futures were introduced. The bitcoin futures availed top investors the will to exert pressure on the value of bitcoin. This has given way for theories, making many people believe that bitcoin futures, in the words of Leo Melamed (CEO of Chicago Mercantile Exchange CME) is ‘taming’ the value of bitcoin.
With the introduction of bitcoin as a payment method, statistics have shown that it might not be a good idea on a long run. This is as a result of the stagnation in bitcoin ATMs that are installed in various parts of the world. Also, stablecoin seems to be a major competitor, capable of knocking out bitcoin on the platform of payments and transactions. However, its integration as a payment currency still have a probable future.
As at December 2018, a bitcoin is valued at $3,400. As predicted in 2017, the ownership of bitcoin is still relatively low but forecasters believe that all things being equal, if the cryptocurrency space is cleanse of smaller altcoins that have saturated it, bitcoin will rise again in value, leaving its transition band and skyrocketing into the band we previously know it to be in; bullish band. On the other hand, notable investors in bitcoin and analysts have continued to stress that the cypto coin in 2018 went through fundamental unraveling, reminding investors that it is just like any other investment with risks.

To summarize, 2019 promises to be a good year for bitcoin. As it seems like the year was used to solve rising issues that borders around it. With its value at $3,600, going into another year compared to the $20,000 of the previous year, you can as well say anything can happen. But if we are to trust experts, then it will be a good year.