Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

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Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

While that the cryptocurrency industry is going through a very rough phase, here are the five events expected to set the growth trajectory of the crypto market in 2019.

Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

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Bitcoin Price Watch: BTC At Risk of More Losses Until It Breaks $3,600

Bitcoin price failed near key resistances at $3,600 and $3,620 against the US Dollar.
This week’s followed key bearish trend line is in place with resistance near $3,570 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price may continue to move down unless buyers gain strength above the $3,600 and $3,620 levels.

Bitcoin price struggled to surpass the $3,600 pivot zone against the US Dollar. BTC is currently at a risk of more losses towards $3,480 as long as the price is below $3,620.
Bitcoin Price Analysis
Yesterday, we saw a solid upward move above the $3,560 resistance in bitcoin price against the US Dollar. However, the BTC/USD pair ran into a significant resistance area near the $3,600 and $3,620 levels. There was a rejection pattern formed near the $3,615 level. The price also failed to settle above the 61.8% Fib retracement level of the last drop from the $3,708 swing high to $3,465 low. An intraday high was formed at $3,614 and later the price declined below the 100 hourly simple moving average.
The decline was such that the price traded below the $3,560 level. It tested the 50% Fib retracement level of the recent wave from the $3,441 low to $3,614 high. The current price action is clearly bearish below $3,580 and it seems like there could be more declines. The next stop for sellers could be near the $3,500 level and the 61.8% Fib retracement level of the recent wave from the $3,441 low to $3,614 high. Below $3,500, the price is likely to test the $3,480 and $3,460 support levels. On the upside, there are many barriers near the $3,600 level. Moreover, this week’s followed key bearish trend line is in place with resistance near $3,570 on the hourly chart of the BTC/USD pair.

Looking at the chart, bitcoin price is clearly facing a significant barrier near $3,600 and $3,600. Therefore, it could extend the current decline to $3,480 before a fresh upward move.
Technical indicators
Hourly MACD – The MACD for BTC/USD is now placed heavily in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently placed well below the 40 level.
Major Support Level – $3,480
Major Resistance Level – $3,600
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Stellar Price Analysis: XLM/USD Trends of January 24–30, 2019

CoinSpeaker

Stellar Price Analysis: XLM/USD Trends of January 24–30, 2019

Further increase of the bears’ pressure may push the coin to its previous low and in case the bulls defend this level of $0.09 Stellar price may have its resistance at $0.13 price level.

Stellar Price Analysis: XLM/USD Trends of January 24–30, 2019

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Crypto Market Update: EOS, Tron (TRX), Bitcoin Cash, ADA Price Analysis

The total crypto market cap tested the $117.50B resistance and later corrected lower.
EOS price is currently correcting lower and it may test the $2.40 support level.
Bitcoin cash price tested the $130 resistance and it is currently moving lower towards $126.
Tron (TRX) price remains in an uptrend and it could accelerate towards the $0.0300 level.
Cardano (ADA) price settled above $0.0420 and it is currently consolidating in a tight range.

The crypto market started a downside correction after yesterday’s recovery. Bitcoin (BTC), EOS, Ethereum, BCH, ripple, ADA and altcoins are approaching key supports where buyers could emerge.
Bitcoin Cash Price Analysis
Bitcoin cash price made a nice upward move above $126 and $128 against the US Dollar. BCH/USD even broke the $130 resistance level, but it failed to gain strength above the $132 resistance. Later, there was a downside correction and the price dipped below $130.
An initial support is at $128, below which there is a risk of an extended decline to $126 or $125. On the upside, buyers need to clear the $130 and $132 hurdles for more gains.
EOS, Tron (TRX) and ADA Price Analysis
EOS price traded towards the $2.50 resistance recently, where sellers emerged. The price is currently correcting lower below $2.45 and it may continue to decline towards the $2.40 or $2.35 support levels.
Tron price remained in the bullish zone above the $0.0250 and $0.0260 support levels. TRX is currently consolidating and it may soon make another attempt to surpass the $0.0280 and $0.0300 resistances.
Cardano price settled above the $0.0420 support level. However, ADA is struggling to surpass the $0.0440 and $0.0450 resistance levels, above which the price could rally towards the $0.0500 level.

Looking at the total cryptocurrency market cap hourly chart, there was a failure near the $117.00B and $117.50B resistance levels. The market cap started a downside correction and traded below $115.00B. However, it seems like there are many supports on the downside near the $114.00B and $112.50B levels. Therefore, dips in bitcoin, ETH, XRP, tron, litecoin, EOS, stellar, IOTA and other altcoins remain supported in the near term.
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Ripple Price Analysis: XRP Could Dip and Rip Above $0.3200

Ripple price spiked above the $0.3210 level recently and later dipped below $0.3150 against the US dollar.
There is a declining channel in place with support at $0.3130 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could dip below the $0.3130 support before it may bounce back above $0.3160 and $0.3200.

Ripple price is slowly retreating from recent highs against the US Dollar and Bitcoin. XRP/USD is likely forming a dip and rip scenario with supports near the $0.3120 and $0.3110 levels.
Ripple Price Analysis
Yesterday, we saw a sharp bullish reaction from the $0.3050 support area in ripple price against the US Dollar. The XRP/USD pair gained pace above $0.3120 and $0.3160 to move into a positive zone. It even spiked above the $0.3200 level and the 100 hourly simple moving average. However, the price struggled to hold gains above $0.3220 and later declined. The price also failed near the 61.8% Fib retracement level of the last decline from the $0.3345 high to $0.3047 low. It dipped below the $0.3200 and $0.3180 levels to start a downside correction.
During the recent decline, the price moved below the $0.3150 level and the 100 hourly SMA. Besides, there was a break below the 50% Fib retracement level of the last wave from the $0.3047 low to $0.3231 high. At the outset, there is a declining channel in place with support at $0.3130 on the hourly chart of the XRP/USD pair. The current price action suggests that the price could dip below the $0.3130 and $0.3120 levels. Having said that, the price is likely to find bids near the $0.3100 for a fresh upward move.

Looking at the chart, ripple price is likely forming a replica of the recent declining channel with resistance at $0.3175. Therefore, there are high chances of a downside spike below $0.3120 before the price climbs higher once again.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is about to move back in the bullish zone, with positive signs.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently flat below the 50 level.
Major Support Level – $0.3100
Major Resistance Level – $0.3200
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Ethereum Price Analysis: ETH Remains A Sell Until It Breaks $120

ETH price tested the $119-120 resistance area and failed to gain strength against the US Dollar.
There is a short term declining channel formed with resistance near $118 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is currently at a risk of more losses as long as it is trading below the $118 and $120 hurdles.

Ethereum price failed to stay in the positive zone against the US Dollar and bitcoin. ETH/USD trimmed most its gains and it is likely heading towards the $114 support level.
Ethereum Price Analysis
Yesterday, we saw a nice upward move above the $114 and $115 resistances in ETH price against the US Dollar. The ETH/USD pair even spiked above the $118 resistance and the 100 hourly simple moving average. However, it failed to break the $120 resistance area. There was also no close above the 61.8% Fib retracement level of the last downside move from the $125 high to $111 swing low. The price started a fresh decline and traded below the $118 level and the 100 hourly SMA.
Moreover, there was a break below the 50% Fib retracement level of the recent wave from the $111 low to $120 swing high. At the outset, there is a short term declining channel formed with resistance near $118 on the hourly chart of ETH/USD. The channel support is at $114, where buyers are likely to emerge. Above $114, the 61.8% Fib retracement level of the recent wave from the $111 low to $120 swing high is a decent support. Below $114, the price could dip towards the $112 and $111 levels.

Looking at the chart, ETH price is facing a major resistance near the channel, $118, and the 100 hourly simple moving average. A successful break and close above $120 is needed for more gains towards $124 and $127. If buyers fail, the price may continue to move down towards $112.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently placed in the bearish zone, with negative signs.
Hourly RSI – The RSI for ETH/USD is moving lower towards the 35 and 30 levels.
Major Support Level – $114
Major Resistance Level – $118
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Tron [TRX/USD] Technical Analysis: Bulls help the price to breach through the immediate resistance

Tron [TRX] is pushing Ethereum out of the stage as it is better at scaling and is performing splendidly in terms of Dapps. The ninth-largest cryptocurrency in the world [by market] seems to be doing better than other cryptocurrencies.
The market cap of TRX is shy of $200 million to reach the $2 billion mark and the price at the time of writing was at $0.0270. The 24-hour trading volume of TRX was at $221 million.
1-hour
Source: TradingView
TRX prices show no sign of stopping now since they’ve broken the support at $0.0267, whereas the support line at $0.0212 has held the prices steady so far. The uptrend for TRX extends from $0.0215 to $0.0237, while the downtrend ranges from $0.0328 to $0.0273.
The MACD indicator shows a bullish crossover over the zero-line and is heading towards the upside. The histogram is slowly representing the same.
The Awesome Oscillator shows a failed attempt at a bearish crossover as the green bars are extending in height, indicating an increase in momentum and hence, an increase in the price.
The Parabolic SAR markers are seen forming below the price candles, supporting and pushing the prices to go higher.
1-day
Source: TradingView
The MACD indicator shows a possibility of a similar scenario as seen in the one-hour chart, a bullish crossover as the MACD and the signal lines are eerily close to each other.
The Stochastic indicator shows a perfect bullish divergence as the prices are rising continuously but the Stochastic shows a decreasing trend. The trend for Stochastic was changing at the time of writing as it was undergoing a bullish crossover as well.
The Chaikin Money Flow shows a negative indication as the money moving into the TRX markets is low and not coinciding with the bullish trend.
Conclusion
The one-hour chart is lit with bullish signals as indicated by the SAR, MACD, and AO indicators. The one-day is also showing promising signs for Tron in the future as indicated by the MACD, CMF, and Stochastic indicators.
The post Tron [TRX/USD] Technical Analysis: Bulls help the price to breach through the immediate resistance appeared first on AMBCrypto.
Source: AMB Crypto

EXMO Cofounder Predicts Increased Crypto Liquidity, Falling Stock Markets in 2019

Co-founder of cryptocurrency exchange EXMO Ivan Petukhovsky has predicted that 2019 will be characterized by bearish stock market movements and increased interest in cryptocurrency, leading to enhanced crypto liquidity. In an article published earlier today on the official EXMO blog, Petukhovsky predicted that “garbage assets” in the cryptocurrency market will disappear, and deployment of comprehensive regulations will boost the popularity of crypto assets.
According to him, the ongoing bear market which started in 2018 is a period for “purification” as the market gets rid of scam coins and crypto projects with no genuine utility or innovation. He believes that once this phase ends sometime this year, ICO fundraising markets will recover, driven by enhanced investor confidence in the high-quality digital assets left surviving.
Combined with bearish equity markets which he expects to last for most of 2019, this will lead to an influx of investment into crypto assets, ultimately resulting in enhanced liquidity and bull movements.
Development of Regulatory Frameworks
Petukhovsky predicts that 2019 will also herald the long-awaited entry of institutional investment into the cryptocurrency market, as legacy financial institutions and cryptocurrency companies collaborate increasingly.
According to him, the regulatory hostility that has previously dogged crypto is already starting to dissipate as regulators increasingly see the asset class as an investment opportunity that should be regulated, rather than a threat to be assessed and contained. In his assessment, a number of regulators in important financial jurisdictions are already starting to come round to this point of view.
An excerpt from the post reads:
“We have received a clear signal from the regulatory authorities of various countries, including the SEC, stating that the cryptocurrency markets and the ICO should be regulated. This trend will only increase with the development of the industry.”
The development of positive cryptocurrency regulation in his view will then lead to increased interoperability of crypto and fiat financial networks in 2019. International regulatory standards he says will provide an opportunity for financial institutions and crypto companies to feed off each other’s potential, whether in terms of leveraging established financial infrastructure on in gaining investment exposure to crypto assets.
Market Consolidation and Liquidity Growth
Petukhovsky also believes that 2019 will see a rash of mergers and bankruptcies within the cryptosphere as companies adapt to a new reality which does not have the promise of outsized profits or easy access to capital as there was during the ICO mania era. Some big players, he suggests, will step into fiat capital markets through IPOs in order to access capital.
He believes that the removal of poor projects from the crypto market and the entry of legacy capital through acquisitions and traditional shareholdings will lead to an unprecedented situation where heightened investment interest will be juxtaposed by a newfound understanding of blockchain and cryptocurrency as a tool of the future, instead of a get-rich-quick scheme, as some have seen it in the past.
Summing up his thoughts on the year ahead he says:
Due to the trends described above, we predict an increase in the liquidity of the market of crypto active assets, their wider penetration among the broad masses of the population and the inflow of institutional capital in the form of investments, as well as the emergence of new crypto tools secured by real assets. Similarly, the fall in stock markets encourages many investors to enter the crypto market, the collapse in traditional markets is forcing investors to take profits and look for new investment opportunities.
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Source: CoinGape

Bitcoin Cash [BCH] and Dash can work towards bringing economic freedom to the world, says Roger Ver

Bitcoin Cash [BCH] has had a tumultuous time over the past few weeks from sliding on the price charts to become one of the biggest gainers right now. BCH’s biggest proponent has been Bitcoin.com CEO Roger Ver, who has advocated for the cryptocurrency since its inception in 2017.
In a recent interview with Dash’s Joel Valenzuela, Ver touched upon the situation of the bear market and the reasons for the Bitcoin Cash hash war that took place last November. The CEO agreed that 2018 was a big downer and that in some way, the developments had contributed to some success.
He said that it is somewhere in the middle of success and failure but in the end, the price of cryptocurrencies is not the perfect metric to gauge a coin. In his words:
“The price is the least interesting thing about cryptocurrencies, we need to look at what the digital currency actually does instead. If a coin or a network can bring economic freedom for all, then we will be able to say that the field is a success. Last year, the hype of 2017 died down but that is a pattern seen before and will be seen again in the future too.”
The discussion then moved onto the effects of the bear market and pointed out the massive layoffs that occurred in Shapeshift. Ver admitted that the current market behavior had made Bitcoin.com rethink the hiring situation too because budgeting for the future is important. He mentioned that his organization is not a group filled with Bitcoin Cash maximalists but rather will choose anything that will help make payments faster and simpler. Ver added:
“ We like anything that works. BTC just stopped and clearly it was time for other cryptocurrencies to step up. In a way the communities of Dash and BCH are almost similar in the way that both believe in a fully functional payment system that is fast and trustworthy.”
Ver further commented on the famous hash war and said that there was a stark clash in ideologies and many in the community did not like the roadmap put forth by Satoshi Vision and nChain. The CEO was frank in admitting that the animosity between the two will not be reconciled anytime soon.
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Source: AMB Crypto

India's Banking Research Division Introduces Blockchain Implementation Blueprint

India’s Institute for Development and Research in Banking Technology (IDRBT) has reportedly been working with the nation’s government, financial institutions, and local firms to create a blockchain-based platform for developing various applications.
On Wednesday (January 23rd), the IDRBT announced that it had published a blueprint of its proposed blockchain-enabled platform for India’s banking industry. According to the Financial Express, the blueprint specifies a general roadmap on the adoption of distributed ledger technology (DLT)-powered systems in various local businesses.
Source: Crypto Globe

Gemini’s Winklevoss brothers have plans for Bitcoin ETF approval

Gemini’s Tyler and Cameron Winklevoss, the CEO, and president, respectively, spoke about their plans to end the concerns of Securities and Exchange Commission [SEC] that believes that Bitcoin markets are prone to manipulations. The famous Winklevoss twins, who had sued Facebook’s founder Mark Zuckerberg for allegedly stealing their idea, appeared in Laura Shin’s podcast.
The twins have outlined a plan to win over regulatory approval for Bitcoin Exchange Traded Fund [ETF]. The duo said that the quickest way to do so is by “answering their call and (requesting) … more market surveillance on the crypto marketplace,”. The duo added:
“…we’ve started to do that with the Virtual Commodity Association SRO and bringing NASDAQ’s smartest technology to our marketplace, and those are the step in the right direction to getting regulators comfortable with eventually approving an ETF-like product.”
The brothers’ company, Gemini has recently launched an advertising campaign in New York City. The duo have invested in the campaign and it is seen all around with plastered banners on subways, in taxis across the city and even have billboards. This is their first campaign and since the company is based in New York, they started off by running the campaign in the city itself, the twins informed. They explained further:
“…it also happens to be one of the financial capitals of the world, and also has one of the preeminent Bitcoin, or rather, virtual currency regulators, New York DFS. So, it felt like a great starting point to start a campaign.”
When asked about who the target audience for the campaign was, the brothers cleared that it is not aimed at the regulators, but for customers. The duo also said that the campaign has already struck a chord with the crypto followers and that they need no convincing on the dream of crypto or its promise, as they are already well-read.
The Winklevoss’s twins also acknowledged the real problem such followers face in the world of crypto. They said:
“What they’re unsure about is how to engage in crypto in a safe and compliant manner, and so we’re really trying to just start the conversation and let people know that there are regulated exchanges and custodians like Gemini where you can easily buy, sell, and store your crypto and it’s not some Wild West.”
The duo says that the focus here needs to be on the narrative. They cited an example of Silk Road days where one could read a single article without mention.
“I’m sure you remember the Silk Road days where you couldn’t really read a single article without some mention, usually it was a headline or you know in the first part of the article, about Silk Road and how Bitcoin is anonymous and only used for illicit activity, and we know how wrong that narrative is and really has proven to be, but that didn’t take weeks or months to shake. It took years and even to this day, there are a lot of people who still believe Bitcoin is truly anonymous.”
However, they do not believe this is the case. According to the brothers, it is important to start a dialogue and educate people that it is a valid technology and there are secure ways to engage with it and the duo reasoned this by saying:
“because what we really don’t want is a lot of sophisticated people who believe in the technology who miss out on that next wave of getting involved.
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Source: AMB Crypto

Bitcoin SV [BSV] Technical Analysis: Long-term volatility drops; short-term bulls arrive

Bitcoin SV managed to run with the market momentum and saw meager gains, as the market rose from its monthly low of $117.78 billion to cross the $120 billion mark. Barring XRP’s minor decline, the rest of the top coins in the market are seeing minimal green with Bitcoin Cash [BCH] being the highest gainer.
At press time, the nChain spearheaded project, Bitcoin SV, has edged up the US dollar by 1.37 percent and is priced at $76.27. The market cap of the BCH hardfork is on the rise at $1.34 billion, with a large gap of over $200 million re-established against the eleventh-placed Cardano [ADA].
In terms of exchange volume dominance, the top two spots are taken by BitMart, with the following BSV trading volumes: $6.94 million at 11.58 percent and $6.18 million at 10.31 percent in the BSV/BTC and BSV/USDT trading pairs respectively.
1-hour:

The one-hour points to a recent uptick in the BSV prices as the collective market resurged, portrayed by the uptrend extending from $75.24 to $77.61. Previously, the coin saw two significant downtrends the first, a more severe one, extending from $85.02 to $77.7, and the second one from $77.7 to $75.27.
Bitcoin SV is closing in on its immediate resistance level placed at $77.40, after shooting up from its immediate support level of $74.34. The previous support and resistance level stood at $75.95 and $78.98 respectively.
The Bollinger Bands point to an uptick in the short-term volatility of the coin, marked by its recent increase. The Moving Average line indicates a bullish swing for the coin in the short-term.
The Chaikin Money Flow indicates that investors are putting funds into Bitcoin SV, signaling a bullish market as the CMF line is above 0.
The Fisher Transform indicator points to a cross-over of the Fisher and Trigger lines as the BSV market looks bullish.
1-day:

The one-day chart points to a bearish market, since the coin emerged in mid-November 2018, with stabilizing forces coming to the fore recently. The coin’s volatile price movement has subsided with relatively consistent daily changes for Bitcoin SV, following the trend of the collective market. Bitcoin SV has not managed to break the $100-price mark, nor has it fallen below $70 since the year began.
One major downtrend overshadows the coin’s one-day trend line, stretching from $219.20 to $78.43, and a brief uptrend experienced during mid-December, extending from $75.52 to $113.73. As mentioned earlier, BSV has begun to stabilize with the immediate support and resistance levels fairly close to each other at $74.67 and $84.63 respectively.
The MACD line indicates that the coin has been trading in a bearish market for most of its existence, barring a brief bullish swing in late-December.
The Parabolic SAR shows that the coin is in a bearish market as the dotted lines are aligned above the coin’s trend line.
The Relative Strength Index has not risen above the 50-mark since the coin emerged post the hardfork, the RSI at press time stands at 41.3.
Conclusion:
The volatile spree of Bitcoin SV is likely to end as the coin begins to settle in. In the short-run, indicators point to a bullish market as the collective market looks green, however, in the long-run, since its split from Bitcoin Cash, the coin has been in a bearish market, with recent signs of market stabilization.
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Source: AMB Crypto

Investors in Davos Separate Bitcoin and Blockchain, Claim BTC Will go to Zero

As the World Economic Forum (WEF) Continues in Davos, Switzerland, and the who’s-who of finance and politics enjoy $40 hot dogs, there is a significant amount of negative commentary coming from investors and analysts regarding Bitcoin (BTC) and cryptocurrencies.
Most recently, one prominent investor drew a stark line between blockchain and Bitcoin, noting that he strongly believes in the future of the former, while disregarding the latter as a pseudo-currency that will likely “go to zero.”
Davos Not Bitcoin Friendly
The recent comments came from Jeff Schumacher, the founder of BCG Digital Ventures – a blockchain-focused investment firm – who told CNBC that although the Bitcoin as a technology is interesting, its value as a currency is null.
“I do believe it will go to zero. I think it’s a great technology but I don’t believe it’s a currency. It’s not based on anything,” he bearishly noted.
Another prominent investor who was on the CNBC panel, Glenn Hutchins, the chairman of North Island, shared a similar sentiment, claiming that his focus as an investor remains on Blockchain technology.
“I am much less interested in investing around bitcoin as a currency unit or a currency equivalent, or even the blockchain as an accounting ledger. I am thinking much more about the protocols. In other words, what is the underlying protocol going to do as a consequence of which, which tokens are valuable or not,” Hutchins explained.
Bitcoin and Blockchain are Thoroughly Intertwined  
Although these investors aren’t excited about Bitcoin, they are neglecting to recognize that Bitcoin and blockchain are largely intertwined with one another.
While giving a talk regarding the relationship between Bitcoin and blockchain, Andreas Antonopoulos said that blockchain cannot stand strong on its own without BTC, defining blockchain as “Bitcoin with a haircut and a suit you parade in front of your board.”
“Blockchain is one of the four foundational technologies behind Bitcoin and it can’t stand alone. But that hasn’t stopped people from trying to sell it. Blockchain is Bitcoin with a haircut and a suit you parade in front of your board. It is the ability to deliver sanitized clean comfortable version of the blockchain of Bitcoin to people who are too terrified of actually disruptive technology,” Antonopoulos explained.
Another popular figure within the cryptocurrency community, Joseph Young, referenced the recent Davos comments regarding blockchain being successful while Bitcoin fails, equating it to saying, “Airplanes will go to zero while engines have potential.”

Airplanes will go to zero while engines have potentialhttps://t.co/w0gzzPPVAi
— Joseph Young (@iamjosephyoung) January 23, 2019

Furthermore, many prominent financial analysts who are not heavily involved in the cryptocurrency industry have dismissed the “BTC will go to zero” thought line.
Mohamed El-Erian, the chief economic advisor at Allianz, discussed cryptocurrencies late last year, saying that cryptocurrencies will survive their current bear market.
“I think cryptocurrencies will exist, they will become more and more widespread, but they will be part of an ecosystem. They will not be dominant as some of the early adopters believed them to be,” he explained.
Although cryptocurrencies are still seen as “fake money” in much of the traditional financial industry, as they gain more widespread adoption they will also garner greater respect from the financial industry as a whole.
Featured images from Shutterstock.
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Apollo (APL) Founder Steve McCullah Finally Speaks on Scam Allegations

Recently, there was a story questioning the authenticity of Apollo (APL) cryptocurrency and its founder Steve McCullah. This started with a Reddit post by a user named RozzyPoffle. The founder of Apollo, however, has spoken up, denying all the allegations against him and his company although the cryptocurrency community is definitely not convinced by his words.
In defense of the Apollo project
In an article titled “Apollo Cryptocurrency Scam Answered by Steve McCullah”, the founder attempted to defend his company against every claim by RozzyPoffle. Just yesterday, RozzyPoflle wrote on the Bitcoin subreddit that his prediction of a pump and dump has finally come true as billions of APL were moved from the company’s main wallet to exchanges which resulted in a 78% drop in the price of the asset. To that, McCullah said:
“As I stated before, there is no reason for anyone involved with the Apollo Foundation to sell on any exchange because we get constant OTC offers from investors that purchase amounts too large for exchanges.”
There are however verifiable wallet addresses that were involved in the transactions which the founder has completely denied. As RozzyPoffle rightly observes, he did not give any explanation to the transfer of billions of APL, he simply said the company does not sell to exchanges because it has many offers from over-the-counter buyers. Does it mean APL was not sold on exchanges? If yes then how did the price drop by almost 80% within a minute?
Another key allegation was that the APL team pumped up the price by fighting everyone who dares say anything negative about the cryptocurrency in their Telegram group. To this, he said the group admin can only remove members from the online community if they violated a set of strict rules and not because they made negative statements about the project.
However, RozzyPoffle said
“I have at least 20 screenshots of it (bans) happening directly on my computer. Here’s one: a user gets banned because the admin says they had seen that user in the NXT Telegram. That user did not do or say anything at all besides engage in normal conversation: https://imgur.com/a/GVwnxuO.”
Evidently, McCullah has been very much focused on increasing the price of the asset and has talked about it all the time. However, in this interview, he says any member of his team that even insinuates a price increase in the future gets fired. It’s kind of confusing, really. But there is more.
RozzyPoffle isn’t the only one seeing something wrong
This story has drawn a lot of attention, so Cryptoslate did a thorough investigation and stumbled upon a few key personalities who gave their thoughts on the issue. One of them was Lior Yaffe, a co-founder of Jelurida, the company that manages NXT.
“It’s a pure money grab. The features they promised in their roadmap are either trivial or very complex beyond their ability or simply impossible,” Yaffe said.
In addition to this, he confirmed the fact that Apollo stole NXT codes, against which McCullah said they have replaced hundreds of thousands of codes. Yaffe said:
“…to refute this, I will need to take my best devs to look at his code and expose his fake claims. I guess he speculates that we don’t have the time for this. It’s a war of attrition,”
and that the private feature that the project boasts of isn’t private at all.

This evidence is overwhelming and I’m not sure how McCullah will get out of it. Some members of the crypto community are asking why he has not been arrested yet. Well, the answer is simple; his perceived victims are actually his accomplices, for they attack anyone who speaks against the founder or the company and never gives a thought to any of the stories flying around.
The post Apollo (APL) Founder Steve McCullah Finally Speaks on Scam Allegations appeared first on Coingape.
Source: CoinGape