Ethereum (ETH) Rally Continues Despite Scaling Concerns

 
Ethereum (ETH) is well on track to proceed with its ongoing rally despite concerns over Plasma. Ethereum (ETH) investors took to Twitter to express their dismay over how Ethereum (ETH) “overpromises and under delivers” but that did not stop them from buying the dips. In fact, a lot of such investors seem to have made their peace with Snarks and believe that there is still enough juice for a rally from this point forward. There is no doubt that Ethereum (ETH) often overpromises and under delivers whereas Ethereum Classic (ETC) often under promises and over delivers. However, in a market where memory and sentiments last a duration of just a few hours, this does not seem to matter much. It will matter as the market matures but we are still in very early days.
The weekly chart above for ETH/USD shows that Ethereum (ETH) has been following a particular pattern over and over again. That pattern involves previous support turning into next resistance. If we look at the first trend line on the above char that extends from way before 2016 and all the way to April 2017, we can see that it was broken around October 2016. Later on, that trend line serves as the next resistance and is tested in April 2017. The price is initially rejected by this resistance but soon afterwards, it pierces through this resistance and rises to a new all time high. This is not the only time this happens. If we look at the price between January 2017 and November 2018, we can see that the price broke below the trend line around August 2018.

If history is to repeat itself, we should see the price running back into the broken support, now turned into resistance. This is expected to happen around early 2019. Initially, the price is expected to be rejected by this resistance, but will eventually have to break above it in order to reach a new all time high. If ETH/USD follows this trajectory, it is expected to reach an all time high around mid 2019. If you have been following this market for long, you would have noticed that a lot of things are already changing in this market. A few years back, we were at the experimental stage. I remember watching Ethereum (ETH) around $10 and I’d always wonder if this technology may eventually succeed. I ended up buying my first ETH around $15.
Back then, the future of Ethereum (ETH) was not very bright. It was just a community of some tech geeks trying to experiment with a new technology. The number of people who actually understood the concept and what the team was trying to build was very small. Still, the large majority of people do not really understand the tech behind Ethereum (ETH). They are more interested in it as an investment rather than as a technology. However, Ethereum (ETH) today is far bigger and better than it was a few years back. The adoption it has seen is just a drop in a bucket compared to where it can go from here.

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The Blockchain Startups You Need To Hear About

It’s safe to say that the blockchain industry is thriving at the moment. Whilst this is a good thing, it does make it very hard for us to pick out promising blockchain ideas that are calling out for our investment. Overall, the industry is a maze of startups, new ideas and growing innovations. It’s exciting to be a part of, and it’s an industry that is going to be cooking for many, many years to come.
American Inno have recently published an article that highlights their 11 most exciting blockchain startups, across 11 different cities, we want to dive into this to pick out a few of our favourites.
Blockchain technology does not just mean cryptocurrency, therefore some of the mentioned projects are focusing on many other aspects of blockchain technology. Remember that this is opinion based and we are by no means telling you to invest in these projects, at the very least though, it’s exciting to explore.
According to American Inno:
“Blockchain startups have raised nearly $4 billion in VC in 2018 to date, a 280% increase from last year’s record pull. And blockchain extends way beyond the crypto space, infiltrating a variety of industries from healthcare to media. To shine a spotlight on the blockchain innovation that’s happening across the Inno network, we asked our writers to offer up a local startup in this space that’s caught their eye.”
Factom
Factom is a project that already hosts a tonne of value, around $500 million worth to be exact. Factom has been backed by Tim Draper, which in turn is helping to draw a lot of attention to this project, according to American Inno:
“Factom, which has backing from Tim Draper, has landed contracts to protect data housed by the U.S. Border Patrol, the Department of Homeland Security and the Bill and Melinda Gates Foundation. Factom’s other co-founder, Jack Lu, also launched Wanchain, which has landed millions in Ethereum and provides cross-blockchain functions.”
What is Factom? Well, according to the Factom website:

“At Factom, we make the world’s systems honest and build trust between organizations,
people and institutions today, solve hard problems through the utilization of Factom’s Blockchain. We see a future world where fraud, corruption, and forgery are a thing of the past. We believe in keeping private data private and securing the world’s wealth because privacy and possession of property are basic human rights. Life can be a little more fair with Factom.”

Coinigy
Coinigy is a brand new crypto portfolio management, according to American Inno:
“A cryptocurrency startup in Milwaukee called Coinigy gives crypto traders the tools they need to buy, sell and manage their portfolios. Users get access to data on more than 40 exchanges and the ability for users to trade on nearly 20 exchanges. Though the company was founded in 2014, it just launched its mobile app in May to let traders trade on the go, and now has upwards of 80,000 users, roughly half of which pay about $20 per month for the product. And the founders say revenue has grown 300 percent year-over-year, which is pretty impressive.”
And, according to the Coinigy website:
“Coinigy is the best way to access the global financial markets of the future. Businesses small and large rely on our data to power their decision-making. We are a group of dedicated developers, traders, analysts and evangelists that believe in the upcoming paradigm shift that cryptography and the blockchain are bringing to the global financial industry. We built Coinigy because we are passionate about open, transparent markets and aim to be a major driving force in widespread adoption. Our goal as a company is to empower 100,000 people through powerful tools and education.”
Block.one
You’ve probably heard of these guys. The last of American Inno’s recommendations that we wish to touch upon is Block.one, the startup behind the EOS project. All things considered, it’s pretty clear why Block.one are quite a big deal and why we believe they are still one to watch.
According to American Inno:
“The maker of the world’s fifth most valuable cryptocurrency expanded its footprint in a major way this year. The blockchain company, which has offices around the world and was founded just a couple years ago, moved into its own 30,000-square-foot building in the Virginia Tech Corporate Research Center in October. Block.one created EOS, which raised $4 billion in an initial coin offering, and it’s backed by Peter Thiel — making it by far Central Virginia’s biggest blockchain startup.”
Now, as stated, we’re not telling you that these are the projects to invest in, however we do believe it is worth your while looking into them and doing some further research. Each example is exploring a very unique area of blockchain technology, yet together, all these projects are working together to bring blockchain technology to the mainstream. They are doing great things for themselves, their investors and the entire blockchain adoption movement.

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New Innovations In Bitcoin Mining Malware

Bitcoin mining malware is a big problem. By hijacking the blockchain to illicitly mine Bitcoin, hackers are able to carry out a number of exploits on the blockchain that can in turn damage assets held by investors all over the world. Annoyingly, as the security of the blockchain develops and as we create more innovative ways of protecting the blockchain, hackers also get more clever, as does the malware they produce.
According to new research, it seems that the latest fad in malicious crypto mining comes in the form of legitimate windows installation packages, making the malware hard to detect for both the user, and their machines antivirus software.
According to The Next Web:
“Researchers say the malicious software, more commonly known as Coinminer, was specifically designed to fly under the radar. What makes the attack particularly difficult to detect is that it uses a series of obfuscation methods. The discovery comes from security firm Trend Micro, which has since documented the attack vector at more length.”
My masking as a legitimate windows installation file, users of windows machines won’t question the legitimacy of what seems to be a new update, or a windows download. Because of this, the chances of the malware being installed are increased, just as the chances of antivirus software has of detecting the malware decreases. Overall, it’s a hackers perfect recipe.
According to The Next Web, the report by Trend Micro states:
“The malware arrives on the victim’s machine as a Windows Installer MSI file, which is notable because Windows Installer is a legitimate application used to install software. Using a real Windows component makes it look less suspicious and potentially allows it to bypass certain security filters.”
Now of course, there’s a little more to this. Once the file has been installed, hackers have realised that visible parts of the file still need to appear as useful windows files, in order for the malware to remain on the machine in order to extract hashing power and mine Bitcoin maliciously. According to The Next Web:
“The hackers’ trickery doesn’t stop there though. The researchers note that, once installed, the malware directory contains various files acting as decoy. Among other things, the installer comes with a script that counteracts any anti-malware processes running on your machine, as well as the actual cryptocurrency mining module.”
And, most concerningly, according to the Trend Micro report:
“To make detection and analysis even more difficult, the malware also comes with a self-destruct mechanism. It deletes every file under its installation directory and removes any trace of installation in the system.”
How can I protect myself from this?
Illicit Bitcoin and cryptocurrency mining is a problem, one that has a very negative impact on the industry and interferes with many aspects of the industry, including coin circulation and of course, value. In order to protect yourself, you simply just need to be careful when you are online. Never download content from untrusted sources and always ensure you have an up to date antivirus software running.
Think twice before downloading anything off the internet, ensure that all websites you are using are secure and practice good safety measures when browsing the web. It’s not hard to protect yourself, so long as you are careful.

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What Do XRP, Bitcoin Cash And TRON TRX All Have In Common This Week


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It’s often difficult to keep up with the crypto news headlines, given that on any given day we see literally 100’s of news pieces published across the internet. However, it’s very easy to spot the trends as a result of this sheer volume. What you might have seen over the last week is very positive news coming out about Bitcoin Cash, XRP and TRON. So, when you ask what BCH, XRP and TRX have in common this week, we say – they have all broke the news with big headlines this week.
As you should know, crypto news has an impact on the markets (again, this is as a result of the sheer volume of news) therefore, when good news comes out, what we tend to see is the respective cryptocurrencies start to increase in price. This is because, when positive news surfaces, investors start to pump more money into the cryptos as a result of FOMO, fear of missing out. Everybody knows that good news encourages the price to climb so upon the release of positive news, a perfect buying opportunity tends to present itself.
Now, remember that even with all of this in mind, the markets are still very volatile and that even when a price climb begins, the markets are still at risk of falling. We can’t ever predict what will happen within the markets so therefore, always do your own research before choosing to invest.
Why Bitcoin Cash saw a flash increase
Bitcoin Cash has flown this week, bringing in an awful lot of value and making a lot of investors a little more optimistic about the future of their investment. Now of course, Bitcoin Cash isn’t quite back on track towards it’s $2,000.00 target, however, upwards movements can only be good news right?
“Since the first of November, Bitcoin Cash has seen a 45% rally as Binance and Coinbase, two leading digital currency exchanges, announced their support to their upcoming Bitcoin Cash fork due on the 15th November. On its website, Coinbase announced that ‘in the unlikely event that several viable chains continue following the fork, Coinbase will make sure that customers will have access to their funds on each chain. As a hard fork occurs, holders of the forked digital currency are eligible to get both coins. But if the crypto holdings are deposited on an exchange then the exchange will have to adopt both protocols to let users migrate both coins.”
Bitcoin Cash has started to fly as a result of a pending hard fork, which will see a huge upgrade roll out across the Bitcoin Cash network. The reason Bitcoin Cash has moved out is simply down to speculation and excitement, some even believe that Bitcoin Cash will enter a massive bull run once the hard fork has taken place. Remember, don’t let this be your sole reason for investing in Bitcoin Cash. A hard fork is a risky move, one that could pose issues further down the line, though, given that the Bitcoin ABC run these hard forks twice a year, we’re pretty confident they know what they are doing.
What happened to XRP this week?
XRP has also seen positive movements this week as a result of some headline breaking developments both within and around Ripple. XRP seems to be especially responsive to news recently. Remember how XRP shot up over 100% with the news of a pending xRapid launch date? It’s a volatile cryptocurrency, one that is finally making significant progression after what looks to have been a pretty tame year.
“XRP is once again making headlines and this time around it’s about its price and overstanding a place in the market. Recently, there has been a lot of rumours regarding both the short-term and long-term future of the popular cryptocurrency. After months of positive news as the crypto scored major exchange listing, something was bound to happen in the end. Earlier in the week, news broke out that XRP would be supported by Wirex as used for an option on Apple Pay.”
To continue…
“With news like this emerging, the market was bound to have a slight rumble and given the advancements in adoption, the crypto has made over the past few weeks. Overall, the news turned out to be the catalyst which launched the slight bull run. The upscale saw the token gain over 18% which led to it to break into the $0.5 region and solidify a new level of support at $0.53-$0.54. Nevertheless, many traders expect this price to skyrocket even further and there are some analysts who put XRP’s final point at $10-$15 by the end of this year!”
Transaction fees bode well for TRON
Unlike XRP and Bitcoin Cash, TRONs TRX has not entered a short bull run this week and thus, we haven’t seen TRX generate a significant amount of value, proving that good news doesn’t always mean high price!
Even so though, TRX has been the butt of many headlines this week, further enhancing the vision for this ever growing cryptocurrency. It has been revealed this week that TRON now regularly withstands more than 1 million transactions per day. One of the main problems of the Ethereum blockchain (the chain that TRON used to be built on) is scalability, Ethereum can only handle so much traffic at once.
One of the main reasons TRON migrated onto the TRON mainnet (it’s own blockchain) is that TRON wanted to address the scalability issues of Ethereum, TRON wants to be able to handle more daily transactions than any other blockchain, indeed, with recent news in mind it seems that TRON have finally made this dream a reality.
“With this new daily transactions throughput, it suggests that developers over at TRON will need to extend this trend for as long as possible. Unlike other projects, it seems that the network has room for more growth in the future. Transactions costs remain relatively low at an average of $0.02 whereas Bitcoin’s current fee is more to the $0.4 region whereas Ethereum’s fees sit at around $0.19.”
All in all, we have had a good week. Investors are feeling a little more optimistic and the next few weeks are starting to look a little more promising. Bitcoin Cash, XRP and TRON TRX move into the next week with a lot of positivity behind them, we can’t wait to see what happens next!

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Bitcoin (BTC): The Significance Of “10” And “2018”, Rise Of The Phoenix

Bitcoin (BTC) began a new cycle on its birthday. If you look at the BTC/USD 4H chart above, you can see for yourself how Bitcoin (BTC) completed its correction on 31st October, 2018 and began a new cycle. This is not the first time Bitcoin (BTC) has completed a correction in this manner. In 2014, Bitcoin (BTC) completed its correction cycle the same way, by first breaking above the triangle and then correction above it. We will analyze that in detail by comparing the two charts later in this analysis. Let us first understand the significance of two numbers, “10” and “2018”. Was it a coincidence that Bitcoin (BTC) just completed its correction on 31/10/2018? To answer that question, we will first have to see where the numbers “10” and “2018” actually came from.

Source: Economist; 01/9/88, Vol. 306, pp 9–10
In September 1988, the Economist featured a cover photo on its magazine with the title, “Get ready for a world currency”. The article in the magazine on this subject had the title, “One world, one money”. You can read the full article here. The cover photo features a phoenix rising from burning dollar bills. The phoenix is wearing a coin shaped pendant with the numbers “10” and “2018” on it. This was in 1988, way before the financial crisis of 2008. On October 31, 2008 Bitcoin (BTC) was officially born. Coming back to the numbers, “10” and “2018”, let us examine what they could mean. “2018” clearly means the year “2018” so no doubts there. “10” could generally mean the month of October but when put together with 2018, it could also mean the “10th Birthday” of Bitcoin (BTC) which falls on 31/10/2018. So, what really is the significance of all this?
Those who follow history, politics and economics for long know how closely related all three are on a macro scale. There is so much more besides the charts that an average person may not be able to figure out. However, if you look at the charts in the context of history, politics and economics, everything lines up. Throughout history, most of these events have been pre planned by a small but powerful minority. However, with Bitcoin (BTC) things are different. It is supposed to be decentralized. So, when Satoshi Nakamoto wrote the whitepaper, he/she/they sent it to certain private mailboxes. With something like Bitcoin (BTC) messaging/signaling has to be done in this way because apparently there is no organized way for controlling certain events on a macro scale.

Considering that we are on the brink of an unprecedented financial crisis, it is only reasonable to assume that the article published in the Economist in 1988 with the numbers “10” and “2018” is trying to make a point that this might be the time we actually see “one world, one money” come to fruition. The signaling through the words “10” and “2018” is of immense significance. If we get an ETF or institutional adoption through Baakt by the end of the year, it would explain why 2018 was supposed to be an important year. Before we conclude this discussion, I’d like to draw your attention to the above BTC/USD daily chart for 2015. You can clearly see how the price did the exact same thing it is doing now. It pierced through the downtrend resistance and left the triangle, then corrected above it before beginning a new cycle. I’ll leave it to you to closely compare the charts in this analysis to see for yourself how closely they resemble one another.

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Stellar (XLM)’s Most Awaited Breakout Is Only Weeks Away Now

Stellar (XLM) is on the verge of its most awaited breakout against Bitcoin (BTC). The past few months had us believe that XLM/BTC had already broken out of the symmetrical triangle but that proved wrong. However, the price has been trading above its long term trend lien and has not breached it even once. Now, the question is, “Which way is Stellar most likely to break out?” Historically, we have seen that the direction the price is trading before it enters a symmetrical triangle continues to be the direction of the price when it exits that symmetrical triangle. So, looking at this chart, we can see that the price was trading up before it hit resistance and fell into the symmetrical triangle. Therefore, it is reasonable to assume that the price will break to the upside.
Stellar (XLM) has almost reached the full extent of its movement against Bitcoin (BTC) within the symmetrical triangle. There is no room for further movement. In fact, the price will have to take a decisive direction by December. Seasonality indicates that October to December is generally a bullish period of cryptocurrencies, so it is likely that we may see a breakout before then. Stellar (XLM) has seen a lot of interest during the past few months which has made it difficult for its price to slip below the $0.21 mark. Businesses as well as ICOs have shown interest not just in Stellar (XLM)’s use as a cryptocurrency but also in the Stellar blockchain. IBM seems to have done a good job at putting Stellar (XLM) in front of large corporations but it is just getting started and investors know it.

Stellar (XLM) reached a price of just over $1 during its previous bull run. If the market continues the same trajectory and Stellar (XLM) continues to have a strong use case, XLM/USD is likely to cross the $2 mark during its next bullish cycle. Stellar (XLM) has also reached the full extent of its correction against the US Dollar (USD) and is now at a point of a trend reversal. The EMA alignment is also in favor of Stellar (XLM) bulls at this point. The 10 Day EMA has already crossed above the 21 Day EMA and the price is currently trading above both. The price is trading in a similar symmetrical triangle as in the case of XLM/BTC. If the price were to break out of this symmetrical triangle, it would trigger a lot of buy orders and the price can be expected to rally a lot faster than expected.
Stellar (XLM) has room till December to remain inside the symmetrical triangle while trading against USD. The price is not likely to drop below the 10 Day EMA but it is also not likely to break out of the triangle at this time either. It has become a lot easier to turn the tables at this point, but there are no bulls at sight. The bears are running scared on most exchanges and we have already seen a massive drop in the number of shorts. Whether or not the price breaks to the upside remains to be seen, but regardless of its direction the breakout will be decisive and will likely determine the direction of Stellar (XLM) for months to come.

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Billions Wiped Out Of Market In Just Days

Since the 7th November, the global crypto market has lost around $6 billion of its valuation as it dropped from $220 billion to $214 billion where Bitcoin seemed to stay relatively stable.
The day before this started, November 6th, some of the biggest currencies including Ripple, Ethereum, Bitcoin Cash, Cardano and Stellar were seeing some big gains of up to thirty percent with Bitcoin Cash skyrocketing 40 percent within just a two-day span.
After demonstrating a significant increase in value, most of the major cryptocurrencies retraced which were expected amongst the majority of digital currency traders in the community.
With the drop of Bitcoin Cash and other smaller market cap tokens to spark the fire, the cryptocurrency market recorded a dip of just under three percent in its valuation. However, on a monthly basis, the market rose by more than $16 billion since the middle of October from $198 billion to $214 billion.
Since the 15th October, the crypto market added $22 billion to its valuation, rising by over eleven percent. A minor correction was expected following the massive eleven jumps within a thirty-day span.
Despite a 2.7 percent drop in the valuation of the market, the number of major digital currencies still stay quite high. Earlier last month, the daily trading number of Bitcoin was hanging at about $3.2 billion.
As of today, 9th November, the trading volume of Bitcoin on a daily basis remains above the $4.5 billion region and is up by 40 percent within the past few weeks. This noticeable jump in trading activity of Bitcoin and other currencies like Ethereum is attributable to the general increase in positivity and optimism towards the mid-term growth trend end of the market.
Several traders look at Bitcoin futures market of Bakkt to act as a big catalyst for the next rally of Bitcoin, as unlike other futures trading platforms, Bakkt physically delivers Bitcoin to future contract holders. With this in mind, Institutional investors could impact the price of Bitcoin in a good way.
As reported by CCN:
“While the general sentiment towards BTC and major cryptocurrencies is positive, the recent crackdown on decentralized crypto exchange EtherDelta has led investors to be more cautious in investments in tokens.”
What are your thoughts? Let us know what you think down below in the comments!

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One Possible Solution To Banking Bitcoin

An article was written by an independent analyst, Aubrey Hansen for FX Street asks the simple question of ‘why is it so hard to bank crypto?’
Hansen describes herself as a ‘digital nomad’ and is constantly travelling between countries all over the world, but having access to cash and banking services is always a concern. Looking at modern banking, which has jumped forward in advancements, traveller’s cheques are a thing of the past and as Hansen says, she has to organise her foreign currency before she travels anywhere. Nevertheless, fees for banking just get in the way in today’s world and adds up over time to become a significant drain on the finances.
Moreover, the issue of taxes shows a completely new issue which continues to confuse ‘digital nomads’ all around the world.
“If you bank in a certain country but don’t live there, do you pay tax there? If you don’t live in any country but get paid by businesses in various countries, where do you pay your tax? It’s a difficult question that more people ask daily as the digital nomad community grows.”
With banking services which are based on the blockchain, they might be able to provide solutions for a multiple of these issues by showing a whole new different online service which isn’t tied to a specific country like the Dominican Republic or the Cayman Islands, these banks can reduce taxes which aren’t necessary for their customers.
Hensen then goes onto talk about withdrawing cash and that your card is charged at certain services which can be made available to clients through the issuance of MasterCard or Visa debit cards which, in theory, should bring lower fees than those associated with traditional “brick and mortar banks”.
Systems based on blockchain can also be implemented with crypto services which would provide a much-needed service in for the number of clients which is ever growing that are now paid in Bitcoin or similar digital assets.
“EQIBank is one example of such a system. The new digital bank is the world’s first licensed and fully regulated offshore bank of it’s kind, providing both private and corporate banking services as well as a cryptocurrency exchange and loan service”
Hansen finishes off by saying that EQIBank is something that should be a no-brainer for travellers. Reduced fees and simple taxes could save them time and money.
What are your thoughts? Let us know down below!

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Ripple (XRP) Golden Cross Signals Further Near Term Upside

Chart for XRP/USD (4H)
Ripple (XRP) rallied aggressively soon after the golden cross seen on the XRP/USD 4H chart. The price is currently trading above the 50 EMA on the 4H chart and is not likely to drop below it. Bollinger Bands %B indicator on the XRP/USD chart also shows that Ripple (XRP) is just preparing for a massive rally. We have seen over the past few weeks that Ripple (XRP) is also beginning to gain in dominance against Bitcoin (BTC). Ripple (XRP) is known for its quick but aggressive rallies. What does this mean? It means that Ripple (XRP) makes its entire gains for the cycle in an extremely short timeframe. This is why so many Ripple (XRP) investors are strong believers in the idea of hodling.
Most XRP believers have been buying Ripple (XRP) since before the correction and are still holding their coins at more than 70% losses but have no intention of cutting their losses. In fact, they believe that the price is going to appreciate manifold by the end of the year. In 2017, Ripple (XRP) completed its bullish cycle in just 70 days. That means if you were too scared to get involved before March 2017, you would have missed out on the first pump. After the dump in April 2017, if you were too scared to get in thinking it is going to do down lower, you would have missed out on a massive pump all the way to the ATH in May 2017. If you had any ideas to get involved after that, after a correction, let’s say in September 2017, you would only have lost money by the end of 2017.

Chart for XRP/BTC (4H)
The same goes for the rally in 2018. The difference though is that the January 2018 rally was a lot more aggressive and took half the time (35 days). The correction in both cases, took an equal time of 203 days. All of this explains that investing in Ripple (XRP) is a game of hodling. You cannot predict when the rally is going to occur but if it does and you’re not in, the rest of the year does not matter. For 203 days, you can stop thinking about cryptocurrencies in general and Ripple (XRP) in particular and start investing in other markets that is if you do not want to short this market. Ripple (XRP) is once again at the point of a breakout and a similar rally can be expected.
Ripple (XRP) just like other cryptocurrencies might be hard to evaluate before every decisive move. It may not be possible to pinpoint the exact time and date of a decisive move, unless you are a whale. However, for the average investor there are plenty of signs and indicators that the market shows us well before a major development. A golden cross is one such important development. Now, a golden cross is far more significant if it happens on the daily time frame but that does not mean that a golden cross on a 1H or 4H time frame may not see the price rally. Barring extenuating circumstances, we have seen the price rally every time a golden cross has happened on the 4H chart. It is very likely that this time will be no different and we will see the rally extend all the way towards the golden cross on the daily time frame which is expected to occur in early 2019.

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Augur Proves Its Worth During US Elections


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Augur is a project built on the Ethereum blockchain, facilitated by its native token, REP. By definition, Augur is a decentralised oracle and prediction market protocol, that is owned and run by the people who use it and of course, REP investors.
Users of the Augur network can make predictions that in turn, have a monetary value, like a bet. This means that users can predict on political movements, cryptocurrency movements and even natural disasters. Augur is an open world full of markets which users can place bets on.
What is Augur
According to the Augur website:
“Augur is a decentralized oracle and peer to peer protocol for prediction markets. Augur is free, public, open source software, portions of which are licensed under the General Public License (GPL) and portions of which are licensed under the Massachusetts Institute of Technology (MIT) license. Augur is a set of smart contracts written in Solidity that can be deployed to the Ethereum blockchain.”
Furthermore:
“Augur is a protocol, freely available for anyone to use however they please. Augur is accessible through a desktop client app, similar to interacting with an Ethereum or Bitcoin node. Users of the Augur protocol must themselves ensure that the actions they are performing are compliant with the laws in all applicable jurisdictions and must acknowledge that others’ use of the Augur protocol may not be compliant. Users of the Augur protocol do so at their own risk.”
According to the Augur website, here are a few use cases for the Augur network:
Political Forecasting
“Turn political knowledge into predictive power by trading on the outcome of upcoming elections, potential policy decisions, and other political events.”
Event Hedging
“Hedge against catastrophic events like natural disasters, market crashes, and geopolitical upheaval by betting that the event will occur.”
Weather Prediction
“Harness the power of crowds to create a more accurate weather prediction tool for events like hurricane landfalls, heat waves, and daily temperature averages.”
Company Forecasting
“Companies can use Augur to guide decision making by forecasting vital information such as total product sales and project completion times.”
How does it work?
Using Augur is a simple process, firstly, users must select and event that they want to hedge against. In this example, we are looking at the US midterm elections, so let’s stick with that. Within the event, users can then bet on a specific market, or can create their own, so, in this instance, a market may include something like ‘democrats or republicans to take the house in US midterms’. Now, other investors can trade on the outcome of the market, they can back whichever outcome they want to bet for, so again in this example, an investor may bet a bunch of Ethereum or REP tokens on the democrats taking the house in the US midterms.
As Augur is decentralised, the final outcome must be reported before winning bets are returned, this gives all users a chance to dispute the outcome if they think it is false or unfair. Finally, those who own shares of the winning market (through the bets they have placed) will receive their payout and the contract is closed.
Augur simply takes a traditional betting format, and brings it to the blockchain.
Augur has been impressive throughout the elections
As we have stated, Augur is in the news this week for holding it’s cool during a huge increase in activity as a result of the US midterm elections. Since Augur is built on the Ethereum network, it’s often assumed that Ethereum products are unable to handle high volumes of traffic and large scale transactions. Even so though, during the recent US election period, it’s alleged that Augur has seen an incredible $1.65 million in bets, with as much as $900,000 all coming through on the same day.
According to Ethereum World News:
“The decentralized prediction platform of Augur (REP) that is built on the Ethereum network, has achieved an impressive feat of handling approximately $1.65 Million in bets during the US Midterm elections that were held on the 6th of November this year. During the day of the midterm elections, the value of bets had initially reached $900,000 only to surpass the $1 Million Mark as the day came to a close. Further researching the bets made using Augur on the tracking website of Predictions.Global, we find one particular bet that asks which party will control the house after the 2018 US Midterm elections. The volume of this bet currently stands at $1.625 Million.”
In terms of value, it’s not a huge amount given the sheer scale of transactions that move across various blockchains, however, it’s a huge amount for a project like Augur to have to handle. What this tells us, is two things. Scalability on the Ethereum network might not be as drastic as we think. Secondly, this proves that there’s a growing interest in cryptocurrency and within the blockchain, so much so, that people are now using it to bet on the outcome of major political elections.

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“Alexa, Send XRP To Dad”

The XRP Tip Bot is used on Reddit, Twitter and Discord for the shole purpose of being able to send small amounts of XRP to other users and now the bot could be available on the Amazon Alexa App Store thanks to a third party developer sometime in the future.

Hey @haydentiff, hilarious video yesterday!:D
I have something new for you. I hope you guys own an Alexa at home
This will go into beta soon, so some people can try it out. But still needs some improvements first
Thanks also to @WietseWind for the support with the API pic.twitter.com/5LA6AFTckI
— nixer (@nixerFFM) November 6, 2018

Initially being created by the Twitter user, Nixer using the API from the XRP Tip Bot designed by Wietse Wind the new application will allow verbal commands to be said including being able to check balances and direct transaction initiation.
As mentioned by SludgeFeed, in a video posted to Nixer’s account, the developer simply states “Send XRP to Tiffany Hayden” who is a member of the community for XRP and the app used a voice response to determine how much to send. After Nixer sent out the amount, the app then asked for confirmation before sending the tokens and the transaction was verified by Wind directly.
Despite the app for Alexa is still in pre-beta and it would require Amazon approval to be added to the app store, this sounds promising.
Currently, there are more than 74,000 tips which have been sent through the XRP Tip Bot. This totals to over 90,000 XRP and as has been previously reported, the Tip Bot is now available in the Google Play Store and Apple Store.
XRP is currently in the red and is down by 2.58% at the time of writing. The token is also priced at $0.498.
Speaking of cryptocurrency, CoinMarketApp is holding a giveaway in which you can win up to $300 worth of either Bitcoin, Ethereum, Ethereum Classic, Litecoin or Bitcoin Cash.
What are your thoughts? Let us know what you think down in the comments below!

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Is Bitcoin (BTC) Bullish Or Bearish?

So, a lot of investors and analysts seem to think that BTC/USD is bearish or more blood is about to come. Most of them keep saying, Bitcoin (BTC) won’t go above $20,000 before 2019 or that the price may drop to $4,000 before going up but they rarely explain the rationale behind such statements. The bulls often substantiate their claims with evidence but the bears rarely do this. This is because most bears at this point are trading on sentiment, just like most bulls at the top were trading on sentiment. That being said, there are some bears that make a very good point. At least they have a reason for being bearish and are not trading on sentiment.
One popular bearish view is that the price has to break below the 21 Month EMA towards the end of December just like it did in 2015. They contend that price completes 13 months of correction before dropping below the 21 Month EMA. By that analysis, the price should continue to consolidate till December and then drop below the 21 Month EMA to enter another correction till late 2019. They also expect the price to drop around 86% same as it did in 2015. Both of these cycles would last a period of 22 bars or 669 days in total. According to this scenario, Bitcoin (BTC) should complete its correction around late 2019. After that, a period of gradual ascend will begin for Bitcoin (BTC) that will last another two years. In short, Bitcoin (BTC) may remain below $30,000 before 2022.

The bearish view relies on the assumption that the rate of rise or decline of BTC/USD will remain the same during each cycle. In my opinion, that assumption is flawed. Just as we cannot expect the price to rise with the same pace considering the finite amount of money available to put into the cryptocurrency market, similarly we cannot expect the price to drop in such large percentages when the market cap is that high. We have seen the same in the case of large cap markets like the stock market where gains of a few percent are very significant, whereas in the crypto market a few percent gains are inconsequential.
This means that we believe the rate of rise or fall will keep on declining with the passage of time. Thus, some cycles of the past will also be completed over shorter time spans. For instance, the rectangles highlighting parts of the Bollinger Band %B indicator on the above chart shows how similar the two fractals are but the latter has taken half the duration of the former to complete. The first rectangle encompassing the part of the chart between November 2013 and May 2015 has a duration of 80 bars or 560 days whereas the second rectangle encompassing the period between January 2018 and November 2018 lasts a duration of 40 bars or 280 days in total. By this analysis, we can say that the correction has also taken half the duration of the previous correction and is therefore complete and the market is ready to begin a new cycle.

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The Impact Of Institutional Investors On The Market

Institutional investors have come into the crypto space and with that in mind, large buyers such as endowments and hedge funds have been consistently purchasing over $100,000,000 worth of cryptocurrency through private transactions.
Now, miners have started to schedule over the counter coin sales. Some have even set up their own liquidity desks and operations to accommodate the estimated $250 million to $30 billion in trades alone.
Before this, big investors have steered clear from the crypto investing space because of the lack of stability for the bigger currencies. With prices of Bitcoin and Ethereum have reached a certain balance in this, more and more traditional financial institutions have started diversifying their portfolios with crypto assets.
For individual investors, this active interest from big players presents a range of new opportunities as well.
As Forbes mentioned, considering the current demand, large investment companies are saying close to the launch of dedicated crypto-investment products for much longer. The Goldman Sachs Group has become the very first bank to offer a Bitcoin trading product to its customers. At the start of this month, the company began to bring on a few customers to test their crypto trading desks which will allow trading Bitcoin non-deliverable forward contracts.
The owner of the New York Stock Exchange, Intercontinental Exchange has planned the launch of their Bitcoin futures for later next month. The contracts will be backed by Bitcoin reserves held in ICE’s virtual asset ‘warehouse’. This means that Bitcoins will change hands once the contract expires. All futures contract will also be validated through ICE Clear US.
CEO of the G8C token-issuing GanaEight Coin Ltd, a Ganapati Group company, Hayato Terai has said:
“Legislative changes regarding financial products are bringing in more transparency and legitimacy to the crypto-trading space. The ICO space will soon undergo similar changes as well. With better regulations and security mechanisms such as tokenized securities and stablecoins already being introduced, we should expect more interest and participation from institutional investors.”
Earlier in the year, Goldman Sach’s Principal Strategic Investments Group invested in BitGoo’s product along with Galaxy Digital Ventures LLC. The product is a new generation custodian purpose built wallet for storing digital assets, designed for specifically for institutional.
What are your thoughts? Let us know what you think down below in the comments!

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Amazon Teams Up With Ethereum Marketplace

Kaleido is a startup which aims to assist enterprises to implement blockchain technology and has launched a new platform in collaboration with Amazon Web Services (AWS). The startup’s marketplace will provide protocols and tools for all the components of new blockchain projects according to the founder and CEO, Steve Cerveny who said: “from the app all way to the chain.”
The network of financial institutions on the commodities platform of Komgo, includes ING, Koch Supply & Trading, Citi, MUFG Bank, Societe Generale, BNP Paribas and Shell being the current client.
Kaleido is just one of over 50 blockchain projects looked over by the blockchain technology company and incubator, ConsenSys which was launched by the co-founder of Ethereum Joe Lubin four years ago in 2014.
The startup launched in May of this year and offered specific support to blockchain to enterprises its Blockchain Business Cloud platform. Cerveny sees the startup as the next evolution of this service.
“We knew that customers struggling to adopt blockchain needed more help than just the chain. We knew that they needed more advanced components [that were] easily deployed and pre-integrated.”
The marketplace is full of stack offerings which are intended to make it easier for businesses to integrate blockchain solutions quickly by helping manage not only the blockchain itself but the surrounding protocols and structure. With this, businesses can focus more on their operations and less on the complicated differences of the underlying technology in blockchain networks.
In a statement, Komgos CEO Souleima Baddi said:
“By building on an open blockchain system, Komgo can select from the best protocols in development across the ecosystem and use existing building blocks for an optimized solution.”
One partner of Kaleido is AWS which has been with them since the launch of the platform earlier in the year. The startup worked with Amazon’s blockchain team to develop integrate AWS in the system so that it would work for enterprise blockchain customers. Amazon is one of the biggest businesses looking into the industry but it isn’t alone. IBM, HSBC, Maersk, Deloitte and SAP have all been involved in enterprise blockchain projects.
Through the Kaleido marketplace, businesses have access to AWS services like private networking and data backup, other common blockchain services like HD wallets and industrial products like Chainlink, Viant and OpenLaw.
What are your thoughts? Let us know what you think down below in the comments!

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Is Litecoin (LTC) Still A Strong Buy?

Litecoin (LTC) has lost its bullish momentum once gain as the price has now retraced back below the 10 Week EMA. The longer the price remains below the 10 Week EMA, the higher the probability that it may eventually break below its support. Currently, we do not see any strong probability of that happening in the near future. However, if the price fails to break the 10EMA resistance, then that will be the inevitable consequence. Even though Bitcoin (BTC) and some large cap coins managed to break through their downtrend resistances before, Litecoin (LTC) is still struggling to break past its 10 Week EMA. In fact, LTC/USD has continuously been rejected by the 10 Week EMA since the month of May.
Litecoin (LTC) has seen a constant decline in volume. The price has bottomed out for now and has consolidated above a strong support for more than ten weeks now. However, as long as Bitcoin (BTC) remains undecided, Litecoin (LTC) is going nowhere. In this mode of uncertainty, if Litecoin (LTC) breaks below $50, that would be completely disastrous. The price of Litecoin (LTC) cannot afford to fall below $50 in any case. If it breaks and closes below $50, there is a very high probability that Litecoin (LTC) will see another correction for the next eight months or so. RSI for the above chart looks favorable for a short run up but it is unlikely that the price will break the downtrend during this run up.
While Litecoin (LTC) may have lost its bullish momentum, it is pertinent to note that the lower it falls, the easier it gets for LTC/USD to break the downtrend resistance. Litecoin (LTC) has already reached a decision point and will have to make a decisive move before December. Cryptocurrency seasonality suggests that October to December has been the most bullish periods in the past. In the past few days, we have already seen many cryptocurrencies signal that. However, the market was soon to bleed red again and is once again shrouded by uncertainty. Considering that a lot of investors are looking to hedge against a stock market crash points to a bright long term future for cryptocurrencies. Litecoin (LTC) is a direct beneficiary in this case as institutions cannot afford to invest in high risk coins.

Litecoin (LTC) is expected to climb to new highs during its next bullish cycle. However, there have been debates over Litecoin (LTC)’s value proposition which does seem to have hurt investor sentiment for now. As the above weekly chart for LTC/BTC shows, Litecoin (LTC) fell back to the trend line despite breaking out of the falling wedge successfully. Not only did it fall back to the trend line, it has been repeatedly testing it. At this point, Litecoin (LTC) is very vulnerable as long as it stays below the 10 Week EMA. One strong swing from Bitcoin (BTC) could push Litecoin (LTC) into another bear trend.
Litecoin (LTC) is rapidly losing its position as being the cheapest easily accessible coin and the one with the highest growth potential. These were the main reasons Litecoin (LTC) grew exponentially. Some would argue that Litecoin (LTC) is currently one of the few spendable cryptocurrencies online, but with solutions like Lightning Network around the corner, it would not take long for Bitcoin (BTC) to address this issue. Short term, Litecoin (LTC) may still benefit from a growing cryptocurrency market just like most cryptocurrencies, but debates over its value propositions are ultimately going to be taken more seriously.

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