Ethereum Price Analysis: ETH Back In Familiar Range, Can Buyers Take Control?

ETH price recovered nicely from the $132 support level and traded above $134 against the US Dollar.
The price even cleared the $135 and $136 resistance levels, but upsides remain capped.
There is a crucial bearish trend line formed with resistance at $138 on the hourly chart of ETH/USD (data feed via Kraken).
The pair might face a strong resistance near the $138 level and it could drop back to $135.

Ethereum price is slowly recovering higher against the US Dollar and bitcoin. However, there are many hurdles for ETH buyers near the $138 and $139 levels.
Ethereum Price Analysis
Recently, we saw a major drop in ETH price below the $134 support level against the US Dollar. The ETH/USD pair traded close to the $132 support level and later started a decent recovery. It climbed back above the $134 and $135 resistance levels. There was also a close above the $135 level and the 50% Fib retracement level of the recent decline from the $140 swing high to $132 low. However, there are still many hurdled for buyers on the upside, starting with $137 and ending near $140.
The price is currently trading near the $137 resistance and the 100 hourly simple moving average. Besides, the 61.8% Fib retracement level of the recent decline from the $140 swing high to $132 low is also near the $137 level. On the upside, there is a strong resistance formed near the $138 level. There is also a crucial bearish trend line formed with resistance at $138 on the hourly chart of ETH/USD.
Below the trend line, the 76.4% Fib retracement level of the recent decline from the $140 swing high to $132 low is positioned. Therefore, if the price continues to move higher, it could face sellers near the $137 and $138 levels. The next main resistance is near the $140 level, which prevented gains on many occasions recently. On the downside, an initial support is at $135. A break below the $135 level may push the price back towards the $132 level.

Looking at the chart, ETH price is slowly climbing high and moving back in the key $130-140 range. It may continue to rise towards the range resistance, but a break above $138 and $140 won’t be easy. There are even chances of a fresh drop below $135 before the price climbs higher towards $140.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is showing positive signs and it could move into the bullish zone.
Hourly RSI – The RSI for ETH/USD is now well above the 50 level and it is moving higher towards the 60 level.
Major Support Level – $135
Major Resistance Level – $137
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Crypto Ratings: China Prefers Smart Contract Platforms, Bitcoin Downgraded

The Centre for Information and Industry Development in China (CCID) has updated its monthly crypto project rankings. Following the update the top three spots on the list of most promising public blockchain-based assets are compromised of the Ethereum network (ETH), Tron (TRX), and EOS, whilst Bitcoin (BTC) fell on the list.
CCID looked at a total of 35 different projects in the digital asset space. The evaluation comprised of three components – basic tech, applicability, and creativity.
China More Excited by Smart Contracts Than BTC
The latest Chinese CCID crypto ratings are in and it is clear that the Chinese government body is optimistic about platforms supporting the creation of decentralisation applications. The newly published ratings have smart contract platforms Tron and EOS topping the list of 35 crypto projects.
Interestingly, Tron only made its debut on the list of projects deemed worthy of rating by the CCID last month. It has quickly managed to replace Ethereum as the project the agency is second most optimistic about. It failed to displace EOS, however, which has been rated the most promising project month-in, month-out since last June.
The CCID ratings are awarded based on three criteria: basic tech, applicability, and creativity.
Scoring highly in the basic tech department was EOS, Tron, Bitshares, Stem, and Gxchain. According to a translation taken from Bitcoin.com, the CCID did give mention Ethereum and its recent Constantinople upgrade. However, the performance-enhancements made to the Ethereum network were not enough to take ETH into contention for best crypto by basic tech:
“Since the Constantinople upgrade, the efficiency of the Ethereum network has improved, and the Ethereum basic technology index has also risen from the 9th [place] to the 6th.”
This basic tech assessment accounts for 64 percent of the total score of a project.
In terms of “applicability”, the CCID stated that this score was based on “the comprehensive level of public chain support for practical applications”. It comprises of 20 percent of the total score for crypto projects.
Here, the CCID’s five hottest crypto projects are: Ethereum, NEO, Tron, Nebulas, and Ontology.
Finally, the digital assets evaluated by the CCID were assessed by their creativity. This score accounts for 16 percent of the total awarded. The CCID explained this part of the ratings system as referring to the amount of “continuous innovation in the public chain”. The five projects deemed to be the most important in this regard are Bitcoin, Ethereum, EOS, Litecoin, and Lisk.
Evidently, the CCID researchers behind the latest crypto ratings update are less enamoured with straight-up digital currency offerings than they are with smart contract platforms. Bitcoin dropped from thirteenth position two months previous, down to fifteenth. Meanwhile, Bitcoin Cash also fell from to outside of the top 30 projects.
 
Related Reading: Weiss Publish Their First Cryptocurrency Ratings
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Vitalik Buterin Allegedly Cashed Out $40 Million ETH Tokens In Early 2018

Coinspeaker
Vitalik Buterin Allegedly Cashed Out $40 Million ETH Tokens In Early 2018
A sneak peek into Buterin’s account highlights the ETH holdings of the Ethereum founder and his cashing-out into fiat currencies in the last four years.
Vitalik Buterin Allegedly Cashed Out $40 Million ETH Tokens In Early 2018

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Source: CoinSpeaker

Ethereum Price Analysis: Stop Hunting Pushes ETH Into Bearish Zone

ETH price failed to break the $139 resistance and declined sharply against the US Dollar.
The price broke the key $134 support level to enter a bearish zone.
A new connecting bearish trend line is formed with resistance at $139 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is likely to struggle near the $135 and $136 levels if it corrects higher in the near term.

Ethereum price declined sharply below key supports against the US Dollar and bitcoin. ETH settled below $136 and the 100 hourly SMA, which is a short-term bearish sign.
Ethereum Price Analysis
There was another attempt by ETH price to climb above the $139-140 resistance area against the US Dollar. The ETH/USD pair failed to surpass the $140 resistance and later started a downside move. There were range moves above $138 before sellers took charge and pushed the price below $136 and the 100 hourly simple moving average. There was a break below a connecting bullish trend line at $138 on the hourly chart, opening the doors for more losses.
As a result, there was a sharp decline and the price tumbled below the $134 support level. The price traded towards the $132 support and settled below the 100 hourly simple moving average. Recently, it corrected higher above the $133 level and the 23.6% Fib retracement level of the last drop from the $140 swing high to $132 low. Buyers even pushed the price above the $134 level, but upsides were capped by the $136 resistance. Besides, the 50% Fib retracement level of the last drop from the $140 swing high to $132 low acted as a resistance.
It seems like the previous support area near $136 is acting as a solid resistance. Therefore, the price may consolidate in the short term before it makes another attempt to clear the $136 level. On the upside, the next resistance is near $137 and the 100 hourly SMA. Moreover, there is a new connecting bearish trend line is forming with resistance at $139 on the hourly chart of ETH/USD.

Looking at the chart, ETH price clearly moved into a bearish zone below the $136 support and the 100 hourly SMA. If buyers struggle to push the price back above the $136 and $137 levels, there is a risk of more downsides. An initial support is near $134, below which the price may revisit the $132 swing low.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is about to move into the bullish zone.
Hourly RSI – The RSI for ETH/USD declined below the 50 level and it is currently below the 40 level.
Major Support Level – $132
Major Resistance Level – $137
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Crypto Bull Returns, Predicts Targets For Bitcoin, Ethereum, Ripple, Litecoin

Ever since Bitcoin’s break of its parabolic advance in December 2017, the entire crypto market has been locked in a brutal bear market that’s resulted in companies going under, widespread layoffs, and investors and miners capitulating. Even the largest cap coins, Bitcoin, Ethereum, Litecoin, and Ripple, all have fallen 85% or more from their all-time high prices.
The lack of bullish price momentum has caused many long-term bulls to sit on the sidelines, waiting for the bear market to end. One prolific Ethereum technical analyst that earned a reputation during the last bull run, has come out of an over 20-month-long hibernation to post some extremely bullish price charts for Bitcoin, Ethereum, Litecoin, and Ripple – complete with wild price targets and predictions on when to expect each coin’s price to break out.
TA Expert Returns With Bold Price Predictions for Bitcoin, Ethereum, Ripple, and Litecoin
Twitter and Reddit user ScienceGuy9489 has been missing from the crypto scene since June 2017, long before Bitcoin went parabolic and experienced a subsequent correction that led to a long, arduous bear market.
In just a short while back, ScienceGuy9489’s charts have already topped Reddit, predicting that “we are set for the next bullrun,” but its his Twitter posts that have the crypto community buzzing. In the most recently shared charts, the trader has predicted the breakout dates for Bitcoin and Ethereum, as well as price targets for the two cryptocurrencies, along with Ripple (XRP) and Litecoin.
Related Reading | One Simple Chart Proves Altcoin Season Is Upon Us
The trader suggests that Ripple is “set up for a break out opportunity” currently, as it is brushing up against key downtrend resistance dating back as far as the nearly $4 top set back in early January 2018. In fact, the analyst is calling for a breakout price target of $4 on Ripple.

#Ripple #XRP set up for a break out opportunity at at moment. pic.twitter.com/DHxTI7mPX8
— ScienceGuy9489 (@ScienceGuy9489) March 20, 2019

Litecoin, he says, which has led the recently bullish momentum over the past few weeks, is “trying to breakout” currently. For the cryptocurrency created by Charlie Lee, ScienceGuy9489 set a price target for $650, which would set a new all-time high for Litecoin.

#LTC is trying to breakout. Other coins are also moving positive moves. pic.twitter.com/xJSc1Ew0D9
— ScienceGuy9489 (@ScienceGuy9489) March 16, 2019

On his Ethereum chart, which is the trader’s cryptocurrency of choice, he expects an oddly specific breakout date of April 24, 2019 with a price target of $2090, which would also set a new high for the smart contract-supporting crypto.

ETH should be breaking out by April 24th pic.twitter.com/z8lwk9zMHY
— ScienceGuy9489 (@ScienceGuy9489) March 11, 2019

Finally, with Bitcoin, the king of all cryptocurrencies, the trader has set the “liftoff date” at April 11, 2019, just a mere few weeks away. The price target for Bitcoin’s breakout? A new all-time high of $28,100.

BTC Liftoff Due Date: April 11, 2019 pic.twitter.com/osscXh2TNI
— ScienceGuy9489 (@ScienceGuy9489) March 11, 2019

Anyone viewing these charts and the outlandish price targets might be left scratching their head, however, it’s rare the entire cryptocurrency community gives one analyst such attention, and it’s even more unique to find a crypto analyst who disappeared during the last bull run, only to return again as the bear market is ending.
Related Reading | Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term
As for if the trader’s lofty predictions actually will play out, only time will tell. But it is certain that the entire crypto community will be watching closely to see if either the breakout dates are targets are reached with any accuracy.
Featured image from Shutterstock
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Ethereum’s [ETH] Vitalik Buterin says ICO boom would have happened regardless of the platform

Vitalik Buterin, creator of the second largest cryptocurrency and leading smart contract platform, Ethereum [ETH], spoke about the end of the ICO boom, during an Unchained Live event with Laura Shin.
Buterin had previously stated that the next bull run, unlike the earlier one, was going to be built on the application of technology, instead of hype. During the event, Laura asked Vitalik about the end of ICO mania, considering the “fact that a large part” of Ethereum’s success was because of the ICO craze.
Buterin agreed that it was “definitely true” to an extent, adding that the ICO boom would have happened regardless of the platform. He further stated that projects such as Mastercoin were built on Bitcoin, before the launch of Ethereum. He said,
“There were all these other projects that were launching and they were using Bitcoin base that second layers dp. I feel like that boom would have happened regardless of what platform it ultimately would have happened on.”
This was followed by Buterin stating that it was a “complex situation,” due to factors associated with costs and benefits. Nonetheless, he added that one of the biggest benefits was that a lot of interesting projects were getting funded. He added,
“[…] and you know there’s a lot of big Ethereum projects that had token sales. There’s a lot of projects that did not have token sales, but had tokens that launched in other ways, Maker being one example. The fact that they have money for development is, I think, just a good and useful thing.”
He also spoke about the downside of the ICO market, and remarked that it was “definitely one of the biggest costs.” He said,
“Yeah there’s a bunch of stuff that I’m like apparently an advisor for and there are my 10,000 Instagram accounts.  They’re all scams there yeah and are very unfortunate things. If there were magical ones which could have like shut them all down, that probably would have been better, but the magic ones don’t exist.”
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Source: AMB Crypto

Ethereum [ETH/USD] Price Analysis: Coin sees trend reversal as bull returns to market

Ethereum [ETH], the second largest cryptocurrency by market cap, was seen glowing green on 21 March. This time around, the cryptocurrency was not the only coin pictured with the bull, as several other major coins joined in.
According to CoinMarketCap, Ethereum was trading at $140.34 with a market cap of $14.78 billion, at press time. The cryptocurrency had a trading volume of $4.7 billion, and witnessed a significant rise of over 5 percent over the past seven days.
1-hour
Ethereum [ETH] one-hour price chart | Source: TradingViewOn the one-day price chart, the downtrends for the cryptocurrency were recorded from $142.52 to $140.19, and further south till $138.92. The uptrend for the cryptocurrency was outlined from $131.40 to $135.55, and further north till $138.27.
The immediate resistance for the cryptocurrency was at $138.93, and strong resistance was at $140.21. The immediate support, on the contrary, was placed at $135.54, and strong support was at $132.29.
Bollinger Bands showed that the coin was moving towards a volatile market, as the bands were diverging in order to make room for more price movements.
MACD forecast a strong bullish weather for the cryptocurrency, as the moving average line deceived the signal line to move upwards.
RSI indicated that the buying pressure for the coin was equally met with the selling pressure, showing a nearly stabilized market.
1-day
Ethereum [ETH] one-day price chart | Source: TradingViewThe downtrends for the cryptocurrency were demonstrated from $247.76 to $157.56, and from $157.55 to $138.73. The uptrends for the coin were displayed from $83.74 to $103.21, and from $103.22 to $131.40.
The coin’s immediate resistance in the long-run was at $140.56, and strong resistance was at $157.62. The immediate support for the cryptocurrency found its resting ground at $125.11, and strong support was at $82.85.
Parabolic SAR pictured the cryptocurrency rejoicing in a bullish market, as the dotted lines were below the signal line.
Klinger Oscillator showed that the bear was closing in on the coin as the reading line was below the signal line.
Chaikin Money Flow showed money flowing into the market as the line was above the zero-mark, forecasting a strong bullish presence.
Conclusion
The coin joined the rest of the cryptocurrencies in greeting the bull. This move was supported by CMF and Parabolic SAR from the one-day chart, and MACD from the one-hour chart.
The post Ethereum [ETH/USD] Price Analysis: Coin sees trend reversal as bull returns to market appeared first on AMBCrypto.
Source: AMB Crypto

John McAfee on Bitcoin, BlockFi faces backlash and more

Crypto News – 21st March – John McAfee on Bitcoin, BlockFi faces backlash and more
Don’t forget to follow us for the daily video#cryptocurrency #CryptoTwitter #CryptoNews #Bitcoin #OTZ #altcoinnews #Altcoins @officialmcafee pic.twitter.com/aAEnLmr8ut
— AMBCrypto (@CryptoAmb) March 21, 2019

Daily Crypto News – 21 March
Coindcx launches lending program: Indian crypto exchange, Coindcx, announced the launch of Dcxlend, a crypto-lending program, that will support five cryptocurrencies, including Bitcoin and XRP.
Read more at https://bit.ly/2Cw1wEe
Ledger’s CEO on the cryptoverse: Eric Larchevêque, CEO of the hardware wallet manufacturer, Ledger, stated that financial institutions want to build a back office using cryptocurrency and its underlying technology.
Read more at https://bit.ly/2HJyODf
Facebook joins crypto race: The Mark Zuckerberg-led social media giant is stepping up its crypto project, and is looking for a lead counsel to head its Blockchain division.
Read more at https://bit.ly/2TplUMS
Mike Novogratz on Satoshi Nakamoto: Bitcoin advocate and billionaire is in the news again after he claimed that people should bow down to Satoshi Nakamoto, and thank him for the creation of the world’s premier cryptocurrency.
Read more at https://bit.ly/2ujAEmj
Vitalik Buterin on ICOs: Buterin, the creator of the world’s second largest cryptocurrency and smart contracts platform, Ethereum, claimed that ICO boom would have happened, regardless of the ETH platform
Read more at https://bit.ly/2FnOzwD
Cryptocurrency users surged in 2018: According to a report filed by Silvergate Bank with the United States’ SEC, despite the ongoing crypto-winter, the cryptocurrency user base shot up by 122% in 2018.
Read more at https://bit.ly/2UMWNF9
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Source: AMB Crypto

Vitalik Buterin: If the Price is Zero, Then the Network Can’t Be Secure

Coinspeaker
Vitalik Buterin: If the Price is Zero, Then the Network Can’t Be Secure
In his recent interview, Vitalik Buterin explained why Ethreum price is important for the crypto industry and answered to many other questions.
Vitalik Buterin: If the Price is Zero, Then the Network Can’t Be Secure

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Source: CoinSpeaker

Vitalik Buterin: “Inevitable” That Ethereum Loses Some of its Lead in Crypto

Ethereum co-founder Vitalik Buterin admitted that Ethereum is losing its lead in the cryptocurrency market.
Speaking on the Unchained podcast, Buterin said that losing a chunk of market share was “inevitable and unavoidable” for both the crypto projects. The 25-year old developer referred to new blockchain projects that were taking different approaches to reach the same goal as that of Ethereum, thereby taking away some part of its community. He told host Laura Shin that:
“It [Ethereum] has lost some of its lead to some extent. It’s kind of inevitable and unavoidable. Ethereum really was the first general purpose smart contract thing. Bitcoin was, for example, the first cryptocurrency and originally, it had 100 percent of the market share. Then, it went to 90 and now it’s at 55.”
How is Crypto Market Share Calculated?
Market share refers to the percentage of one asset’s market capitalization against the total valuation of the asset’s industry. The first cryptocurrency bitcoin gained a natural lead over other crypto projects. It continues to hold the first rank of biggest cryptocurrency by market cap. Nevertheless, the rise of competing projects, starting with Litecoin, Dash, and followed by Dogecoin, XRP, Ethereum, Bitcoin Cash, amongst many others kept sneaking away little portions off bitcoin’s once-100% market share.

.@laurashin asks @VitalikButerin, "Would you be upset if another blockchain took the lead [ahead of ethereum]?" Buterin jokingly responded, "It depends which blockchain … If #TRON takes over ethereum, I'll have lost a certain amount of hope for humanity, not nearly all."
— Christine Kim (@christine_dkim) March 21, 2019

However, losing market share does not mean that bitcoin is shrinking. The cryptocurrency market capitalization, on a whole, was just $1.59 billion on April 23, 2013. And now, its valuation is well above $141 billion. Similarly, Bitcoin’s market capitalization on April 28, 2013, was $1.50 billion.
And now, it has surged to $71.95 billion. Of course, bitcoin’s market share is now 48-percent less than what it used to be in 2013. But it does not mean its individual valuation has gone down. As a standalone project, bitcoin is ballooning as it was all those years.
Is Bitcoin Losing Market Lead?
From an investor’s point of view, the market now has more crypto projects than ever. Traders have more options to spread their portfolio and distribute their risks across multiple crypto-assets. It might have to do with an asset’s long-term potential, but it can also be about hedging near-term – to make profits from intraday price volatility.
But the crypto market is not just a few traders anymore. According to a study published by the University of Cambridge last December, the number of cryptocurrency users almost doubled in the first three fiscal quarters of 2018. Excerpts from the report:

“Combining public data and survey findings, we estimate that the total number of user accounts at service providers amounts to at least 139 million in late 2018. Using a combination of verified user data and the average share of ID-verified accounts described above, we also estimate there are currently at least 35 million ID-verified users globally.”
Source: University of Cambridge
An increase in user-base means that more fiat assets flew into the crypto market, benefitting bitcoin as well as rest of the cryptocurrency market. The only difference remained that investors now had more assets to invest other than bitcoin, which is why the leading crypto asset lost some part of its market share. Again, it doesn’t mean that it lost the lead.

Buterin rightly said that it was a win-win situation for everybody and no one blockchain plan was competing with the other.
“I want to see an environment where different approaches to things can thrive and prosper. Ethereum can win and other projects that do interesting things can win too.”
[Disclaimer: The author is holding long positions in Bitcoin and Ethereum markets.]
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Why This Investor Says Ethereum is Positioned to Become a Store of Value

It isn’t a secret that when crypto investors mention a “digital store of value,” they are decidedly referring to Bitcoin (BTC). But, as emission (supply output) rate of Ethereum (Ether/ETH) has dwindled over its nearly four years in existence, commentators have begun to evaluate the cryptocurrency’s status.
Although some are sure that Ether is gas through and through, giving users the ability to issue transactions, execute smart contract commands, and issue digital tokens, many have begun to fit the asset into different categories. And somehow, some way, one investor managed to fit a round peg into a square hole.
Ethereum Is “Positioned” To Be A Store Of Value
At Ethereum’s current annual inflation rate of 4.4%, well above the U.S. Federal Reserve’s ~2% target, many argue that it would be hard to call it anything like a digital iteration of gold. In a recent series of tweets, however, investor James Spediacci has politely begged to differ. The trader, who has purportedly been cited in the New York Times, laid out his thoughts on the subject matter in a 15-part thread, picking apart the nitty-gritty of this non-issue.

1/ Why ETH is positioned to be a Store of Value (SoV)
It’s been said that ETH attracted temporary reservation demand and hoarding because investors needed a store of ETH to participate in the many ICO’s in 2017, but now that demand has dried up, dropping the price of ETH 90%.
— James Spediacci ⟠ ₿ (@JamesSpediacci) March 17, 2019

Spediacci noted that while the value proposition of Ethereum has plummeted over the past year, primarily a result of the unwinding of the token sale bubble, which pushed everyone and their mom to purchase ETH en-masse, it will eventually get back on its feet. He explains that as Proof of Stake (PoS) is activated over the incumbent mining system, inflation will “go down to near-zero in two years,” giving Ether a lower stock-to-flow (above ‘ground’ supply to annual issuance) than most government-issued currencies.
At the same time, decentralized finance applications, which puts financial processes on Ethereum’s chain, will continue to collateralize their ecosystem by locking up Ether, furthering curbing circulating supply figures.
Spediacci writes that as applications like Compound have consumed 10,000 Ether worth of collateral every day, “the natural demand for the cryptocurrency will soon pass natural supply,” making Ethereum purportedly the first digital asset to have use-induced deflation.
He adds that once staking goes live, Ethereum will be granted the “six characteristics of money”: durability, portability, acceptability, divisibility, uniformity, and limited supply.
Spediacci did admit that economic abstraction poses as a risk to Ether’s money status, as the asset would be devalued as the gas of Ethereum’s ecosystem. But, he seemed confident that is entirely possible to see ETH become a value store, despite such an occurrence being seen to be not on the table.
Bitcoin Exists. Does Crypto Need Another Store of Value?
While Spediacci is sure that Ethereum’s SoV classification will come with time and development, especially with the growth of DeFi applications like MakerDAO, does this market really need another gold-esque cryptocurrency?
Many Bitcoin maximalists have given issued a “no” in response to this inquiry. The fact of the matter is that as is stands, BTC is seen as the most viable contender to replace gold’s long-standing hegemony, especially in the 21st century’s digital age, not Ether, a Bitcoin fork, or a newfangled cryptocurrency promising the sun and the moon.

Brendan Blumer, the chief executive of Block.one, the blockchain startup that is heads development of the EOS blockchain, believes that Bitcoin will make a move on gold’s de-facto go-to store of value status over the next two decades.
The Winklevoss Twins, the purported Facebook co-founders behind the Gemini exchange, have made a similar argument in recent years. Twin Cameron, breaking down the “Bitcoin is a digital form of gold” argument, remarked that if you boil it down, the digital asset is (or can be) better at fungibility, scarcity, portability, and divisible than the precious metal itself. In their eyes, the only thing that gold has only BTC is a “3,000-year headstart.”
All these pundits see Bitcoin (and BTC only) as the only digital asset that will ever hold status as a usable store of value. In fact, Mike Novogratz of Galaxy Digital once stated that if the cryptocurrency market was the periodic table, BTC would be the only one with an atomic number of 79, much like how gold is gold.
But, according to the stakeholder’s sentiment and those that corroborated his statements, Ether will inevitability become a value store, as long as the poplar blockchain moves ahead with its lofty ambitions to launch 2.0 (Serenity).
Related Reading: Where’s Ethereum 2.0 At? Vitalik Buterin Gives A Much-Needed Update
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Ethereum Price Analysis: ETH Turning Bullish, Targets Fresh Weekly Highs

ETH price gained traction and surpassed the key $138 resistance level against the US Dollar.
The price formed a strong support near the $136 level before climbing above $138.
This week’s major bearish trend line was breached with resistance near $138 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is now trading nicely above the trend line and eyeing more gains above $140 and $142.

Ethereum price slowly moved above key resistances against the US Dollar and bitcoin. ETH could continue to move higher towards the $145 resistance as long as it is above $138.
Ethereum Price Analysis
After a brief consolidation, ETH price formed a strong support near the $135 and $136 levels against the US Dollar. The ETH/USD pair slowly moved higher and broke a few important resistances near the $138 level. There was even a close above the $138 level and the 100 hourly simple moving average. This is a positive sign and has opened the doors for more gains above the $142 and $144 levels. More importantly, bitcoin price already climbed higher, challenging the $4,050 resistance, and it may continue to rise in the near term.
Therefore, it could help ETH, XRP, and other cryptocurrencies. During the recent upside, this week’s major bearish trend line was breached with resistance near $138 on the hourly chart of ETH/USD. There was a break above the 50% Fib retracement level of the last decline from the $142 swing high to $135 low. The price traded close to the $140 level and later corrected lower. It traded below the 23.6% Fib retracement level of the recent wave from the $135 low to $140 high.
However, the $138 level and the 100 hourly SMA acted as a strong support. Besides, the 50% Fib retracement level of the recent wave from the $135 low to $140 high acted as a support. The current price action suggests that the price is well supported above $138 and it may continue to rise. An immediate resistance is at $140, above which the price could break the $142 level.

Looking at the chart, ETH price is trading in a positive zone above the $138 level. If buyers remain in action, the price may even challenge the $145 resistance level. On the downside, if there is a break below the $138 support, the price may revisit the $136 support. The main support is near the $135 level.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently gaining traction in the bullish zone.
Hourly RSI – The RSI for ETH/USD climbed above the 50 level and it is currently near the 55 level.
Major Support Level – $138
Major Resistance Level – $142
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Will Ethereum be the King of Dapps again in 2019?

2018 was definitely a forgetful year for Ethereum and Vitalik. Everything that could go wrong for the coin has gone wrong bringing the whole Ethereum Dapp ecosystem to a standstill like the situation with congestion and scalability issue. But with 2019 and Constantinople upgrade implemented, things seem to be returning to normal for the coin.
Is Ethereum inching up to regain its lost Dapp supremacy?
Ethereum was the one that introduced the world with the concept of smart contracts that laid the foundation and later expansion of dapps and formation of projects like Tron and EOS which now are competing and trying to take the crown away from Ethereum itself.
Vitalik had big plans for Ethereum in 2018, all seem to come crashing down. In January 2018, Vitalik had said in a statement to Tech Crunch that
“I expect 2018, at least within the Ethereum space that I’m best able to speak about, will be the year of action. It will be the year where all the ideas around scalability, Plasma, proof-of-stake, and privacy that we have painstakingly worked on and refined over the last four years will finally turn into real, live working code that you can play around in a highly mature form in some cases on testnets, and in some key cases even on the public mainnet. Everyone in the Ethereum space recognizes that the world is watching, and we are ready to deliver,” said Buterin.
But as the year progressed, the congestion and scalability issues increased and the whole Dapp ecosystem for Ethereum came to a freeze. Ethereum not only lost its market value but also a lot of Dapps with questions looming on its future.
After a yearlong struggle, now, with a solution for scaling their network along with Proof Of Stake, things seem to fell in place. These are initial steps which ultimately will cause creating Ethereum 2.0 with the ability to process up to 1 million transactions, which would send the crypto to the list of the fastest cryptos in oppose to its current ability to process around 15 Tx per second. These projects which are dubbed as Serenity and Casper are expected to bring Ethereum back in the game.
Ethereum seems to get its cards right but it will have to move things faster. Any more delays in upgrades and improvements would mean Ethereum losing more that it will be gaining.
Will Ethereum’s dev team deliver on its timelines and make Ethereum great again? Do let us know your views on the same.
The post Will Ethereum be the King of Dapps again in 2019? appeared first on Coingape.
Source: CoinGape

Fundamental Analyst: 90% of Smaller Crypto Projects Will Result in Complete Loss

As the crypto market begins to pick up steam once again, Bitcoin has stabilized and been on a slow and steady climb, and traders everywhere are rejoicing over the apparent alt season that is upon us.
However, before crypto investors begin to celebrate the beginnings of the next bull run, one fundamental-focused crypto analyst believes that the vast majority of cryptocurrencies in the market will result in “complete loss” for investors, who are essentially playing the role of venture capitalists by funding projects with little to no use case or real world traction.
Crypto Investing is No Get Rich Scheme, Assume 90% Failure Rate
A self-proclaimed fundamental analysis-oriented crypto trader has taken to Twitter to express his concerns in investing in smaller crypto projects, comparing crypto investors to venture capitalists who invest in startups with an impossibly high rate of failure.

Failure can be a gradual process, or a sudden one, failure can be complete or partial, but assuming that 90% of your investments in smaller crypto projects will result in a complete loss is a pretty realistic starting point.
— Wolf of Qtrade.io (@cryptic_monk) March 18, 2019

The trader’s concerns are less about investing in cryptocurrencies, even the smaller projects he warns could result in “complete loss,” and more about the fact that uninformed cryptocurrency investors don’t appear to understand the risk to reward ratio in investing in cryptocurrency projects. He claims small crypto projects are unproven, often have tiny teams, and are more akin to startups.

The most common crypto project (by numbers) consists of a relatively small core team, say, one really dedicated person up to maybe 25 core team members, a few hardcore fans, and a somewhat larger, loosely attached community consisting mostly of hopeful "investors".
— Wolf of Qtrade.io (@cryptic_monk) March 18, 2019

“No matter how these small projects are financed (via an ICO, premine, fair launch, dev reward, self-funded etc.), they are essentially young startups in a completely unproven technological field. Such startups are known to have an extremely high failure rate of about 90%,” the analyst explained.
Related Reading | Crypto Comeback: One Simple Chart Proves Altcoin Season Is Upon Us
Any investment in projects of this scope should consider the funds to be venture capital. While this opens up a “highly specialized investment field previously only available to a closed group,” where investors have a shot at investing in the next Facebook, most “early stage startups fail” for a number of reasons.
Only Bitcoin, Ethereum, and Monero Have “Traction,” Should Make Up Core Crypto Exposure
With crypto assets being such a risky investment, why are so many confident in putting their capital into the emerging market class? While some of it may be due to general inexperience in retail investors that have flocked to crypto as an asset class, there’s no denying that “there’s a realistic chance that somewhere in the 10% of the projects that survive” lies a gem that ends up providing a 10x, 100x, or even 1000x return on investment.

Only very few projects, maybe only Bitcoin, Ethereum and Monero have something that could be called real-world traction. These are the only available "blue chips", and the only ones that you should really consider core hedges of your crypto exposure.
— Wolf of Qtrade.io (@cryptic_monk) March 18, 2019

But even less risky than “buying into that 90%/10% game” and hoping to find a moonshot, the analyst suggests that any crypto investor’s core exposure should be tied to Bitcoin, Ethereum, and Monero, which he says has “real-world traction.”
Related Reading | Fundamentals Grow While Bitcoin Price Stagnates, Where Does BTC Go From Here?
Overall, his thoughts are in line with most of the crypto community, which recommend investing only what one can afford to lose, and to build their portfolio around high-cap coins such as Bitcoin and Ethereum.
Featured image from Shutterstock
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Source: New feedNewsBTC.com

Ethereum (ETH) Disputations, Code Isn’t Law Insists Vlad

Ethereum prices stable but bullish
Code is Law a misnomer insists Vlad Zamfir of Casper Labs
Transaction volumes low but poised to expand as prices expand

After penning an article critiquing Szabo’s law, Vlad is clearly of the opinion that there ought to be an element of human participation within the Ethereum governance model. Nonetheless, Ethereum (ETH) prices are stable, and after three days of consolidation, it is likely that prices will edge higher with targets at $170.
Ethereum Price Analysis
Fundamentals
Public blockchains are inherently fractious and often factions sprout disagreeing on improvements, upgrades or even a fruitful push for equal representation. We saw that happen with Bitcoin Cash when contentious led to a split creating two chains in SV and ABC.
However, it is the current flame-throwing and uncomfortable topic of how best to deal with Parity Funds that is reviving the discussion on which governance model best suits Ethereum. As fractious and heated the atmosphere, well-articulated arguments from Vlad Zamfir is shedding light on the apparent lack of effective controls and human participation within Ethereum and the tendency towards adherence of Szabo’s law.
Drumming for pro-governance, Vlad is against the idea of protocol improvements or changes on the ground of technical maintenance as stipulated by Szabo. He argues that the perception that code is law is a misnomer and “too radically anti-legal to be part of a sensible crypto legal system.” All the same, his beliefs are against what blockchain represents—autonomy.
As a network, it should operate free from third parties—in this case, government, even if solutions riding on these networks seem to go against the incumbent and disrupt the status quo.
Candlestick Arrangement

Up 3.5 percent from last week’s close and stable in the past 24 hours, Ethereum (ETH) is trading within a tight trade range. With clear supports at $135 and trading within a clear bullish breakout pattern set in motion by Mar 4-5 double bar bullish breakout, the path of least resistance is clear.
Already, increasing demand and positive fundamentals—especially Joseph Lubin’s comments—indicate there is an undervaluation.
However, before conservative traders flow in, prices must first close above $170. It is likely that prices will rally in the short-term now that BB bands are spreading and prices appear to be banding along the upper BB pointing to increasing demand.
Technical Indicator
Since Ethereum (ETH) prices are trading inside Mar 15-16 bull bars, then is imperative that prices close above $150 or dip below $135 as price action confirm bulls of Mar 5 or bears flow affirming those of Feb 24. In any case, accompanying transaction volumes must be above averages of 230k or above 300k of Mar 5.
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Source: New feedNewsBTC.com