Category Archives: Cryptocurrency

ICO: What is it, and how does cryptocurrency financing work? – TokenMantra

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ICO’s are a fast-growing business model for financing blockchain projects. Every year the amounts spent on this new type of collective financing increase. In this article, we will explain what an ICO is and what to take into account in an initial money offer.

ICO – What does it stand for?

The term “ICO” is the abbreviation for “Initial Coin Offering”. The abbreviation represents a modification of the IPO, the “Initial Public Offering”, which is the initial public offering of a company. The IPO offers shares of existing shareholders for the first time  or a capital increase on a stock exchange.

What is an OIC?

An ICO has nothing to do with an IPO. No stock of the company is sold on a stock exchange. Instead, tokens or crypto-coins are offered to those interested. In some cases, these currencies and tokens were designed specifically for collective financing, or they have little or no value.

In other cases, the coin itself is the heart of the project, and the initial supply of coins is the first opportunity to get it. Often referred to as “symbolic sale,” the sale is made through the blockchain, the decentralized peer-to-peer network of cryptocurrencies. Sales are recorded in Blockchain.

What are ICOs for?

ICO’s are mainly used for crowdfunding. In most cases, they are created to finance new blockchain projects. The development team provides a whitepaper describing the benefits and technical details of a particular cryptocurrency or blockchain. This will make them available to the community. It will then stop the initial money supply within a certain period of time.

Investors have the opportunity to invest early in the offered cryptocurrency. They speculate that, over time, the value of the acquired cryptocurrency will increase. Others just want to support the project because they like the idea. The currency offered is often exchanged for Ethereum or Bitcoin. The success of the Initial Coin Offering in US Dollars is measured by the value of Ether and Bitcoin at the time of sale.

While most blockchain projects financed themselves through an initial supply of currencies, this crowdfunding method is also becoming increasingly popular among joint ventures. Compared to a traditional IPO, regulation is not an obstacle. A lot of times, big corporations have to prepare for a long IPO. However, since cryptocurrencies are not company shares, these regulations do not apply.

ICO’s also allow small and emerging startups to finance themselves. And you can also turn to the community. You do not need to know about the stock exchanges to attend a symbolic sale.

However, from the buyer’s point of view, there is a much greater risk.  False WhitePapers have been created by unknown developers several times. After that, the developers disappear with their revenues, the later development of the project does not occur and the investors are left with a worthless currency. There are many tokens that have little or no use but are still offered. Investor protection is not guaranteed.

As a result, efforts are currently being made to create sites in which ICO’s crypto-coins are regulated while maintaining a compelling crowdfunding model in the other. Switzerland is the leader in this area. In 2017, four of the 15 largest token sales in the world happened in Switzerland. These four companies received a total of $ 631 million. They are the financial technology company Tezos, the Bancor online trading center, the status of the notification service and the venture capital company The Dao.

How can I buy cryptocurrencies or tokens in an ICO?

The conditions of an ICO depend heavily on the project operator. It is often necessary to have Bitcoin or Ethereum as equity. Both coins can be stored in a hardware wallet or software portfolio. Likewise, the coins need a wallet in which they can be stored. In some cases, payment via PayPal is possible. As a general rule, the project developer provides the information to which address the coins should be sent.

There is a difference between tokens and cryptocurrencies. A cryptocurrency is a digital currency that can also function as a means of payment. Behind a cryptocurrency is always a separate infrastructure of blockchains, nodes, and miners.

Many tokens are based on Ethereum. Without the Ethereum Blockchain, they could not exist because they do not have their own infrastructure. The functions of a token are also limited. Some of them offer benefits or services on a platform. Other tokens were created just for symbolic sale to eventually finance the project with the sale. There are even tokens that perform an action-like function and give the owner voting rights to the project.

Both terms are often used interchangeably, but you should pay close attention to the possibility of buying a cryptocurrency or a token. Ultimately, they perform different functions.

How do I analyze or classify an ICO?

One of the most important aspects of an ICO is the whitepaper. It is important to not just buy hyped coins. Read the content of the Whitepaper, the objectives and what problems they want to solve. Is the project promising? Is there a need for what the project will deliver? Success and failure may depend on it.

The team should be examined more closely. What experiences do team members have? Do they have profiles on social networks and LinkedIn? What was the team’s previous work like? Can we detect dubious machinations among project leaders? A great advantage is when team members have worked on cryptocurrencies before.

Check the marketing and team presence in social media. How many followers does the project have on Twitter, how many members are in their subreddit? Behind many successful projects is ultimately a loyal fan base and a strong community. The support of large companies in the technological or financial sector is also a good indication of the success of the company.

The roadmap is also important. It should be carefully observed whether the team is able to achieve the goals set in the project planning. This gives you an idea about whether the goals are realistic and the team is able to achieve the intended goals. If there is no Roadmap, it is better to drop the project.

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Most of the Volume on Cryptocurrency Exchanges are Fake According to Report; Binance and Bitfinex Come out Clean – Blockmanity

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A recent report by Blockchain Transparency reveals the shocking reality of most of the Cryptocurrency exchanges. 87% of all the trading volumes on the top 25 exchanges are Fake.

Coinmarketcap is not a reliable source of information to measure trading volumes on various exchanges. This is evident from the data presented in the report, out of the top 25 exchanges on Coinmarketcap a shocking 11 of them have over 99% of their volume faked, 12 of them including major exchanges like Huobi and OKEx are faking over 75% of the trading volumes.

(Wash Trading: When an investor buys and sells to himself to create the illusion of trading activity on exchanges. It is illegal in most jurisdictions)

Most of these exchanges are not properly regulated, some of them are even located in places like the Cayman Islands and Gibraltar where there are effectively no regulations.

Image Source: blockchaintransparency.org

Binance and Bitfinex Come out Clean

The only 2 exchanges out of the top 25 to come out clean are Malta based Binance and British Virgin Island-based Bitfinex. Although Bitfinex has been accused of pumping up the Bitcoin price in 2017 by printing Tether, their exchange data seems reliable.

Binance has proven itself over and over again with Changpeng Zhao leading the company. Recently the exchange vowed to donate all of the listing fees to charity and is also actively working on developing the ecosystem with its education initiatives and funds.

Major US exchanges like Coinbase and Kraken did not even make it to the top 25 list. Most of the US exchanges are majorly fiat on ramps and do not indulge in wash trading.

Blockmanity’s Take

The Crypto industry is still nascent with unreliable data and many scattered and unreliable exchanges. As more regulations kick and more institutional players like Nasdaq, NYSE enter the market with their products we should be able to see better price discovery.

Also Read:

Cryptocurrency exchange Kraken plans to raise money through $4 Billion crowdfund

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Good News as Cryptocurrencies and Traditional Banking Meet – Invest In Blockchain

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While the cryptocurrency markets are in turmoil, the industry continues to build and move forward with exciting new developments. One such development comes from a growing cryptocurrency bank.

The bank we speak of is Revolut, a digital banking alternative to the traditional brick and mortar banking system and supporter of cryptocurrency. Revolut already features a Bitcoin and cryptocurrency exchange built into its mobile app and has now received a European banking license.

A Crypto Friendly Bank

Amongst the traditional banking industry Revolut is an odd duck, but among the fintech industry they’re the hottest start-up in the United Kingdom. The innovative start-up launched an in-app cryptocurrency exchange last year where customers could exchange their digital assets such as BTC, XRP, ETH, and more coins for fiat currency and vice versa.

Revolut also debuted a crypto debit card which users could use to spend their cryptocurrency and earn cash-back rewards denominated in Bitcoin, Ethereum, or Ripple. Revolut is excitingly innovative and is making positive moves to push cryptocurrency adoption.

Now, as of Thursday, Revolut graduated from the fintech industry and now ranks among the big banks. They received the authorization to offer traditional banking services besides their innovative services to customers throughout Europe.

Revolut will roll out a series of traditional banking services starting with the ability to sign up for direct deposit and receive deposit insurance of up to €100,000 through the European Deposit Insurance Scheme. Next, the digital banking firm will roll out overdraft protection, and traditional personal and business loans.

Revolut’s Goal: Become the ‘Amazon of Banking’

The CEO and founder of Revolut, Nikolay Storonsky, has very ambitious goals for the company. Commenting on the recent banking developments, Storonsky said:

With the banking licence now secured, commission-free stock trading progressing well and five new international markets at final stages of launch, we are living up to our reputation as the ‘Amazon of banking.’ Our vision is simple: one app with tens of millions of users, where you can manage every aspect of your financial life with the best value and technology.

Storonsky continued on to say these services won’t be launching until 2019 and they will offer them to smaller markets first before expanding to larger markets in Europe. He also explained his vision for small business owners using Revolut:

Our vision is that retail and business customers will be able to apply for a loan in just two minutes from within the app, and then have the money in their account almost instantly. We’ll remove the bureaucratic process and come in cheaper than traditional lenders.

2019 is Looking Good

The cryptocurrency industry has been through a lot this year. We’ve experienced all-time highs in the beginning and are now approaching unimaginable lows. However, despite the negative price action, there are positive developments happening everywhere.

  • The crypto friendly bank, Revolut is gaining traction and will expand their services in 2019.
  • The Opera web browser now features a built-in crypto wallet for android mobile devices.
  • Binance is launching Binance Chain which will host millions of tokens and thousands of blockchains.
  • Bitcoin Futures by ICE’s Bakkt will launch in January 2019.
  • The US Government is showing interest in blockchain technology and even funding blockchain startups.

The above developments are only a drop in a bucket load of positive developments happening in the cryptocurrency industry. As 2018 comes to an end, there is so much to look forward to in 2019.

What are you looking forward to in the cryptocurrency industry? Do you think the merging of crypto and the banking industry is a good thing? Let us know in the comment section below.

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The bitcoin price is wrong – Financial Times

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In 2017’s winter months, crypto-shills were everywhere. On television, at the gym, driving your Uber, at your mother’s book club, and strewn across the face of “respectable” media:

That’s from the New York Times before you ask. Date? 13 January. Bitcoin is down 76 per cent since then; Ethereum, 93 per cent. Hilarious.

But after the heart-attack in crypto-thingies over the past year, you’d think some corners of the financial world would have dialled down on giving airtime to those pushing a decentralised future. After all, crypto has turned out to be a total nonsense. And an expensive mistake for some.

But no.

Here’s a piece, published Thursday, from a very serious financial institution called Bloomberg on bitcoin bull Thomas Lee. Apparently he’s still long. And he wrote a note about why, so why not uncritically reprint some of it? Cool.

From the article:

Bitcoin’s fair value, given the number of active wallet addresses, usage per account and factors influencing supply, is between $13,800 and $14,800, he said in a note Thursday. His explanation for the divergence include last year’s meteoric rally, a “meltdown” in the macroeconomic climate and treasury sales during initial coin offerings.

There is so much to unpack here. Macroeconomic meltdown? Erm, global GDP is on track to grow 3.1 per cent this year, according to the World Bank. Also wasn’t bitcoin meant to be a store of value during a meltdown? We can’t keep up.

The other reason given, the timing of Treasury sales during coin-offerings, is just plain weird. Like, we kind of get how quantitative tightening (the Federal Reserve not purchasing bonds, and therefore reducing the size of its balance sheet as its old assets roll off) was meant to reduce the appetite for risky assets such as bitcoin and other coin-gibberish, but the timing part? The Fed told everyone it planned to stop purchasing Treasuries in October 2017, before the crypto-madness. In May, it even told punters by how much. So why not just plan an ICO for when bonds aren’t sold by the Treasury? It’s public knowledge. Hey, it’s just an idea.

Another interpretation is that Lee thinks crypto-garbage competes with Treasuries for investors’ attention. But, to be honest, taking this idea seriously is impossible.

That’s not the best part though. The best part is Lee’s “fair value” estimate, and the accompanying chart, expertly crafted on a Bloomberg terminal:

#marketing#marketing

Estimating a fair value for assets with cash flows is hard at the best of times. Just take a gander at NYU Stern professor Aswath Damodaran’s website to see the depth of study required to estimate the price of a lowly equity. But an “asset” with no intrinsic value has no fair value absent the costs needed to create the product (arguably). Goldbugs may argue with this definition, but no one listens to them anyway.

Here’s more from Lee:

User adoption and Bitcoin’s acceptance as an asset class are the key factors that will drive it higher beyond 2018. If bitcoin wallets approach just 7 per cent of Visa’s 4.5 billion account holders, fair value would be $150,000 per bitcoin according to his model, he said.

Wait, so it’s an asset and a currency? Please make up your mind crypto-bros.

And on the Visa argument, it might help if bitcoin processed more than 260,000 transactions per day. Visa handles, oh let’s see, 150 million per day. Or if it was an accepted form of payment with vendors, rather than a means of shifting dodgy cash around the world to disreputable entities like, as one example, ISIS.

But, as it turns out, there might be one use for crypto: funding Trump’s wall. What was that about disreputable entities again?

Related Links:
Crypto-shills — FT Alphaville
Chart crime as a measure of crypto-desperation — FT Alphaville
Forking hell, crypto is collapsing! — FT Alphaville
Sell all crypto and abandon all blockchain
— FT Alphaville

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Copyright The Financial Times Limited 2018. All rights reserved. You may share using our article tools. Please don’t cut articles from FT.com and redistribute by email or post to the web.
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An app that allows Canadians to turn spare change into bitcoin – ITBusiness.ca

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The idea of investing in some Bitcoin or other cryptocurrencies can seem intriguing, but actually making that investment can be daunting, and many Canadians are still unsure how to get involved in the crypto world. Well, a Montreal-based tech company is on a mission to make buying and selling easier with its new app feature that turns your spare change into bitcoin.

Shakepay mobile app Source: Shakepay

Shakepay, which already has a mobile app that allows users to buy and sell bitcoin, is now offering a private beta version, or “pre-launch” as it calls it of its newest feature, Shakepay Change.

According to its website, Shakepay Change allows users to automatically buy bitcoin by investing the spare change from everyday purchases. Through a Shakepay account, it links to a debit or credit card. Then once purchases are made it will round up those purchases to the nearest dollar and automatically buy bitcoin with that ‘spare’ change.

According to the company, “Shakepay change allows every Canadian to easily own bitcoin, buying small amounts gradually over time.”

Co-Founder and CEO of Shakepay Jean Amiouny. Source: Shakepay

“We want to keep making this easier and more frictionless for our customers, many of which buy bitcoin week-after-week for the purpose of long-term holding,” said Shakepay CEO Jean Amiouny in a statement.

Similar cryptocurrency buy and sell apps exist, such as San Francisco-based Coinbase and Toronto-based Coinsquare. And the interest in investing in digital currency seems to be of interest to Canadians. Shakepay, which launched in 2015 claims to have already exchanged more than $30 million in digital currency on its platform and has more than 40,000 customers.

However, it remains to be seen if Canadians will be comfortable automatically spending “spare change” on bitcoin, seeing as spare change is almost a thing of the past with contactless payments and these investments are likely to be quite small as $1 CAD equates to .00024 Bitcoin (as of publication).

There is also the question of security, giving an app access to your banking information or credit cards. Shakepay claims however that “security is our top priority.” According to its website, “all personal data is transmitted through SSL-encrypted tunnels to our servers and then stored with AES-256 encryption in our database.”  It also states that “the vast majority of customer digital assets are held offline on air-gapped, multi-sig, cold storage wallets.”

The Montreal tech company was founded in 2015 by two graduates from McGill University. It received $1 million in funding from Boost VC and Amphora Capital and earlier this year was part of the six accelerator cohort for Creative Destruction Labs.

On its website, Shakepay is offering early access to the new Change feature, no word yet on when the feature will become public.

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District Court rejects dismissal bid, determining plaintiff sufficiently alleged ICO tokens were unregistered stock – Lexology

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On December 10, the U.S. District Court for the District of New Jersey denied a motion to dismiss a putative class action, finding the plaintiff sufficiently alleged that a company’s sale of unregistered cryptocurrency tokens were “investment contracts” under securities law. According to the opinion, the plaintiff filed the proposed class action against the company alleging it sold unregistered securities in violation of the Securities Act after purchasing $25,000 worth of tokens during the company’s initial coin offering (ICO). The company moved to dismiss the complaint, arguing that the tokens were not securities subject to the registration requirements of the Act. The court applied the three-prong “investment contract” test from SEC v. W.J. Howey Co.—“the three requirements for establishing an investment contract are: (1) an investment of money, (2) in a common enterprise, (3) with profits to come solely from the efforts of others”—and determined the token sales met the requirements. Focusing on the second and third prongs, because the company acknowledged the first was satisfied, the court concluded that the plaintiff sufficiently alleged the existence of a common enterprise by showing a “horizontal commonality” from the pooling of the contributions used to develop and maintain the company’s tasking platform. As for the third prong, the court determined the investors had an expectation of profit rather than simply a means to use the tasking platform, as demonstrated by the company’s marketing of the ICO as a “‘unique investment opportunity’ that would ‘generate better financial returns[.]’”

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Bitcoin – The Meltdown Continues – Yahoo! Finance News

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Down, but not out as the Bears take another bite out of Bitcoin and the cryptomarket.

Bitcoin fell by 2.16% on Friday, following on from a 5.13% slide on Thursday, to end the day at $3,281.7.

It’s been a tough week, month and year for the Bitcoin bulls, with Bitcoin down 6.4% for the current week, 18.7% for the current month and a whopping 76.2% for the current year. If you take the peak, the bulls are down 83.5%.

In the words of Isaac Newton, ‘what goes up must come down’ and nothing has proven Isaac Newton’s theory more than the cryptomarket.

It wasn’t long ago when even the likes of George Soros, well a long time ago in crypto months, publicly announced an interest in investing in the cryptomarket. The April comments may have been considered, by some at least, as late April foods day humour.

After all, it was just a few months earlier that Soros, along with other leaders of the financial world, lambasted Bitcoin and the market in general.

Let’s not forget JPMorgan Chase CEO Jamie Dimon, who made plenty of headlines following some particularly critical comments, while admitting that his daughter had invested.

The bearish, well negative, sentiment has been justified and Bitcoin ended Friday at levels not seen since last summer, which was another poignant moment in the world of crypto, the arrival of Bitcoin Cash.

Touted as the one to topple Bitcoin, last month’s hard fork certainly seemed to have been the last nail in the coffin for the Bitcoin Cash family and, self-proclaimed Satoshi’s Bitcoin Cash SV crypto did few favours to a market in dire need of support, which begged the question of whether the actual creator of Bitcoin would induce such a cataclysmic event that would push back the adoption of cryptocurrencies as an alternative to fiat currency by years.

The total cryptomarket cap struck a year low $101.04bn in the early hours of this morning, holding on to the coveted $100bn with both hands and, even though Bitcoin is finding some much needed support through the early hours of this morning, it’s hard to imagine many jumping into the market on its current downward path.

‘What a difference a day makes, in the soulful words of Dinah Washington….

This time last year, those who weren’t in Bitcoin will have been talking about the “what ifs”…

If only I had just invested a few hundred a few years back…

Unfortunately for some and, quite possibly many, the Bitcoin story has become a cautionary tale. Losing 83.5% of a few hundred bucks is palatable, losing 83.5% of a tidy return or even of a single Bitcoin at $20,000 is less so.

The bulls are still talking it up, likely to be holding some of beleaguered cryptos, trying to rally the troops into jumping back in, but once bitten, twice shy may be the general emotion felt by those who saw their virtual millions vanish almost as quickly as it appeared.

While the bears will be seizing the opportunity to deal Bitcoin and the broader market its final blows, not all hope is lost however.

There is certainly a place for the cryptomarket and there is unquestionably a place for blockchain technology and, to a lesser extent, alternatives to fiat money. The likes of Ripple have demonstrated how effective blockchain tech can be in the real world.

A much needed roll out of unified rules and regulations across the G20 and an eventual inflow of stickier institutional money, once the SEC is able to approve at least a single Bitcoin ETF are all likely to be positives for the crypto world. Earlier in the last year, investors balked at the idea of regulation and oversight, the crypto news wires slamming prices almost on a weekly basis, as regulators in China, Japan and South Korea upped the ante on the crypto exchanges.

It could be the reverse next time around and deliver a true bottom for Bitcoin and the cryptomarket. Ripping the band aid off would have been much easier than this year of pain, but to be fair, Bitcoin at 3,000 is certainly more palatable than Bitcoin at $20,000. Especially when considering the level of adoption.

We’re not quite at the stage of ‘The only way is Up’ and we may well see Bitcoin at $2,000 levels before the bears take a leave of absence, but the time will come when the Bitcoin bulls will, once more, feel the cool wind in their hair.

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This article was originally posted on FX Empire

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Intel Is Working on an Energy Efficient Bitcoin Mining System – The Daily Hodl

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Intel has obtained a Bitcoin mining SHA-256 datapath patent that covers a processor and hardware accelerator.

The patented hardware, awarded by the United States Patent and Trademark Office, is designed to provide greater mining energy efficiency by reducing the circuit area and power consumption. It achieves this by harnessing a series of hardware accelerators and targets various stages of the hashing process.

The system also features micro-architectural enhancements and utilizes selective hardwiring of parameters to alleviate the recurrence of computations, thereby reducing power consumption by up to 15%.

In September, Intel had also filed a related patent application for a Bitcoin mining hardware accelerator designed to lower energy consumption per hash while increasing performance per watt. The new innovation was aimed at minimizing the time required to find the 32-bit nonce in a Bitcoin block.

The news comes in the wake of a Bitcoin price fall that has led many miners to drop out due to diminishing returns. As the market nosedives, companies are working harder to acquire more efficient mining technology to reduce overheads.

Right now, Bitcoin mining costs are going down due to the reduction of mining difficulty in tandem with falling hash rates. Thanks to the intellectual brilliance of Satoshi Nakamoto, the pseudonymous entity that developed the Bitcoin network, its algorithm adjusts mining difficulty after every 2,016 blocks.

As more miners turn off their machines, the process becomes easier and inherently consumes less energy.

Energy Efficiency a Growing Necessity in Bitcoin Mining

Although Bitcoin now changes hands at about $3,250, a significant tumble from the $6,400 rate it held just a month ago, there is hope that more efficient devices and a sustained drop in mining difficulty will begin to favor smaller miners.

As tech companies focus on improving processing power and related technology used in hardware, mining farms have been forced to seek cheaper, renewable energy sources in a bid to reduce energy consumption costs which significantly impact mining profitability.

Consistent development of more efficient crypto mining hardware by tech companies can stimulate the growth of the industry in the long term.

This article by Elizabeth Gail was originally published by CoinCentral, our media partner.

Elizabeth Gail
Elizabeth Gail is crypto-enthusiast and a blogger. Her specialties include cryptocurrency news and analysis. When not writing about crypto, she’s out taking part in humanitarian endeavors across the world. You can reach out and engage with her on Twitter and Google Plus.




 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin (BTC/USD) Price Breaks Yearly Lows: Here’s Why You Shouldn’t Panic Sell – Mineable

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Bitcoin (BTC/USD) price has just made new yearly low. The cryptocurrency fell another -2.17% on the day to $3224 (Bitfinex), with most of the market following suit. While it might seem like this break of support was critical, so far, the resulting drop has been unconvincing. This could point towards a new potential trading range, similar to the one experienced between ~$6000-$7000. Whether you’re a buyer, seller or a HODL’er here are a few indicators to consider before moving forward.

The Last Line of Defense for Bitcoin

The Weekly 200 Moving Average is putting up quite a fight for BTCUSD. In technical analysis terms, it is known as the last line of defense for any asset. We can see that the price is hovering right near support on a weekly timeframe.

btcusd price ma

Sellers should be practice caution as merely touching the 200 MA can deliver a 161.8% pullback on smaller timeframes. A pullback could take BTCUSD back to the resistance $4400 area. Overall, a break below the 200 MA is acceptable as long as the price doesn’t close below it on a weekly basis (a wick is also an acceptable close).

Note: The weekly Relative Strenght Indicator (RSI) has reached an almost identical oversold level (28.96) as in the 2015 Bitcoin bear market (28.14).

Bullish Divergence

The 4-hour BTC/USD chart looks more promising for the bulls. At least for the short term. The RSI bullish divergence should be enough to cause a small relief rally and potentially a stronger overall reversal if it manages to break above the $3700 resistance cluster. With the weekly oversold levels reaching ATL levels a bounce to ~$4200 would not be out of the question.

btc price divergence

BTCUSD An Overcrowded Short?

The BTCUSDSHORTS margin shorts (Bitfinex) have managed to break their all-time highs from September. Without a doubt, BTC/USD has become an overcrowded short. It doesn’t appear that short sellers are looking to close their positions, and that’s understandable, why should they? Bitcoin hasn’t seen a decent spike in weeks so we expect short squeeze to come sooner rather than later.

btc shorts

In Summary

While currently, Bitcoin price might look bearish, there are more than a few indicators that tell a different story. If you’re still holding, this might not be the best time to panic sell.

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Opera Adds Cryptocurrency Wallet To Its Android Browser – ETHNews

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December 15, 2018 12:33 AM

The browser could help cryptocurrency adoption, starting with Ethereum.

The Norwegian-developed Opera browser has been competing with Microsoft’s Internet Explorer since the 1990s, and in more recent years the likes of Chrome, Mozilla, Safari, and the new Brave browser. Since 2017 it’s had more users than Internet Explorer.

Announced this week at the Hard Fork Decentralized event in London, UK, Opera now has a built-in cryptocurrency wallet for Ether and ERC20 standard-based tokens. So far, the new browser version is only available for Android devices, with the desktop version still in beta.

Project lead Charles Hamel explained: “We’ve decided to support Ethereum, as it has the largest community of developers building Dapps and has gathered a lot of momentum behind it.”

Ethereum co-founder Joseph Lubin was complimentary, saying, “We see this as an important moment in improving dApp accessibility, opening Web 3.0 to mainstream audiences, and encouraging developers to build on Ethereum.”

Though Opera’s crypto wallet is Ethereum-specific, support for other coins is planned for the future.

Generally, crypto wallets and access to dApps is made possible by browser add-ons, like MetaMask, which still does not have a mobile wallet. In November 2018, Metamask unveiled its own dedicated mobile client at Devcon4 in Prague, but it has yet to be released.

Hamel illustrated the issue to Hard Fork:

“One major hurdle in all this is that you need a special browser or special browser extensions to even start exploring the decentralized web and even then, users are faced with lots of new terminology that is sometimes confusing.”

Opera’s Android browser will now allow users to access their dApps, manage their digital identities, and through the wallet, make cryptocurrency transactions.

The Opera wallet uses Android’s secure key storage, protecting wallet keys via a mobile user’s device lock screen.

Developing a mobile cryptocurrency iteration certainly doesn’t seem to have been simple for Opera. The company had to “build competence” in different blockchains, cryptography, and distributed networks, said Hamel, as well as dealing with variations in code for Web3 features. He added: “One of the biggest challenges was to define what a browser wallet should look like and how it should behave.”

In the end, it was important to Opera that its wallet be seamlessly integrated, rather than functioning like an application-within-an-application. 

Melanie Kramer is a freelance FinTech, blockchain, and cryptocurrency writer based between France and Canada. Melanie has studied, and retains an avid interest in, global politics, business, and economics.

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