Tron [TRX/USD] Technical Analysis: Bulls help the price to breach through the immediate resistance

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

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

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

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

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

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

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

Litecoin [LTC] Technical Analysis: Bears retain long-term control of the LTC market

Cryptocurrencies around the world have taken a tumble of late, especially since January 10, and the case of Litecoin [LTC] is no different. LTC has been going through a regular downslide since the heights of the previous year and despite some bullish resistance, is struggling to improve on its value against the US dollar which stands at $31.83 presently.
At the time of press, LTC retained its eighth-position in the list of world’s largest cryptocurrencies with a market capitalization of $1.914 billion. It also has a 24-hour trading volume of $602.28 million with ZB.com, contributing a significant 7.98% via the trading pair LTC/USDT.
1-hour
Source: TradingView
The uptrend for LTC in the one-hour time frame is struggling to hold and extends from $31.071 to $32.049. However, there is still some way to go before LTC overhauls the downtrend that extended from $33.375 to $31.179. Both the resistance and support points are holding steady at $32.479 and $30.897 respectively.
The Bollinger Bands are holding steady after it seemed that they were contracting. This suggests that volatility is holding steady for the time being.
The Aroon indicator has the Aroon up line cross and go over the Aroon down line and is thus, closer to 100, indicating that some bullish resistance has overpowered the predominant bearish trend of the market for the time being.
The Relative Strength Index indicator has the trading market neither being oversold or overbought, suggesting that both the buying and selling pressures have evened themselves out.
1-day
Source: TradingView
The long-term chart for LTC gives a more bleak reflection of the fortunes of LTC. The bearish market dominates trends as the coin is yet to reverse the huge downtrend that extended from $89.180 in mid-July last year to $40.155 last week. The uptrend extended from $29.304 to $40.079, but it was brief and has since dissipated.
Both the resistance and support points at $40.203 and $23.422 respectively, have also held firm against bullish and bearish market pressures.
The Parabolic SAR has all the markers above the candlesticks, indicating that the brief bullish resistance has been snuffed out and that the bears have retained overwhelming long-term control of the market.
The MACD line has the signal line hovering under the MACD line, indicating a bearish market. However, the histogram would suggest otherwise which means that gradually, the bearish trend is flattening thanks to bullish influence.
The Chaikin Money Flow indicates that the market is trending below the point of zero, suggesting that money is still trickling out of the market and that it remains a bearish market despite bullish efforts to the contrary.
Conclusion
The one-hour chart suggests a minor bullish trend to LTC’s prices, as is suggested by indicators such as Bollinger Bands, Aroon and RSI. On the other hand, the long-term, one-day chart suggests a bleaker market with the bears still retaining control over much of the Litecoin [LTC] market.
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Source: AMB Crypto

$16 million worth of Ethereum & ERC20 tokens stolen during Cryptopia hack

The year started with a bang as one of the leading exchanges reported a case of cryptocurrency heist that occurred on their platform. The exchange in the spotlight here is Cryptopia, a New Zealand cryptocurrency exchange. The platform released an official statement on January 15, 2019, stating that they faced a security breach, which resulted in a significant loss.
The platform, however, has still not disclosed details pertaining to tokens that were stolen from the platform and the worth of the tokens. To add on, the announcement stated that the exchange will be under maintenance until the case of the stolen tokens has come to a conclusion. It is currently being taken care of by the New Zealand police officers and the required regulatory authorities have been informed about the incident.
Now, a research by Elementus, a next-generation blockchain analysis company, outlines the timeframe of the heist and total tokens that were lost. The report stated that the funds were moved from the platform’s two hot wallets, one had Ethereum [ETH] and the other had ERC20 tokens, on January 13, 2019, 1:28 PM GMT.

This was followed by the disclosure of the cryptocurrencies that were stolen. The report stated that Ethereum and ERC20 tokens were worth about a whopping $16 million. It further states that this number was taking into consideration only information found on the Ethereum blockchain.
“The funds were taken from more than 76k different wallets, none of which were smart contracts. The thieves must have gained access to not one private key, but thousands of them […] It seems Cryptopia not only lost their funds, they also lost access to all, or nearly all, of their 76k+ Ethereum wallets.”
The largest amount of cryptocurrencies that were stolen was Ethereum, Dentacoin, Oyster Pearl, Lisk ML, Centrality, Mothership, Ormeus, DAPS, Zap, and Pillar.

Additionally, according to the report, the cryptocurrencies were spread across fourteen exchange platforms. The largest amount of cryptocurrencies were sent to Bibox, an AI-enhanced, encrypted cryptocurrency exchange platform. The second in line was Binance, the largest cryptocurrency exchange in terms of trade volume, and the third on the line is noted to be Houbi. The report suggests that the hackers have transferred over $882,632 out of the $16 million and that the majority of the tokens are still held in two different wallets.

The two wallets that have the stolen funds are identified to be 0x9007A0421145B06a0345d55a8C0f0327f62A2224 and 0xaA923Cd02364Bb8A4c3d6F894178d2e12231655C. These wallets have an approx. of $13 million worth of cryptocurrencies. Moreover, the report concludes that there are still over 1948 Ethereum wallets and about $46k in Ethereum remain at risk.
The post $16 million worth of Ethereum & ERC20 tokens stolen during Cryptopia hack appeared first on AMBCrypto.
Source: AMB Crypto

Ripple/XRP: “XRP is definitely coiling up”, says prominent trader and charting expert

Peter Brandt, the author of “Diary of a Professional and Commodity Trader” and a well-known trader tweeted the charts of Steller Lumens [XLM] and XRP on January 21, 2019.
Brandt tweeted the technical analysis chart of Stellar Lumens and set the first target as $0.0653 and the next one at $0.00150 and said “so basically worthless. Sorry.”
Source: @PeterLbrandt
A user, @BrandonVanB replied to Brandt’s tweet:
“@PeterLBrandt do you have any insight into XRP (Ripple). The fundamentals look amazing.”
Peter Brandt replied to @BrandonVanB with another technical analysis chart saying: “XRP is definitely coiling up”
Source: @PeterLbrandt
“Coiling Up” is a technical term used to signify a market which has the potential to make a strong move in one direction after being pushed in the opposite direction or held flat. The idea is that if a market should be headed in one direction due to its fundamentals but has pressure in the opposite direction, it will eventually make a strong move in the course of the original fundamental direction.
Moreover, the coiled move will be more significant and substantial than the move if it would have continued in the normal direction without interference.
Brandt’s tweet doesn’t necessarily mean that the movement of price will move upwards, it could go either way. In addition to the technicals, Ripple is on a crusade with a slew of partnerships with various institutions around the world.
Ripple has over 200+ partnerships which are spread over 40 countries and each one of them is using Ripple’s blockchain solutions, be it xRapid, xCurrent, or xVia.
Brandt’s tweet faced a lot of commotion in the community as Brandt had said that “XRP will replace NO portion of global forex trading volume” in August 2017.
@CarpeNoctom replied to Brandt’s tweet saying:
“Almost every crypto chart looks like that
So I guess everything is worthless soon
Sorry not sorry”
Another Twitter user, @OSD728 commented:
“If the prices of xlm do go that low I will definitely buy more not saying I want it to but still that’s a good entry point”
Peter Brandt is well-known for his prediction of the 2018 crash of cryptocurrencies and for his accurate predictions when it comes to technical analysis or charting.
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Source: AMB Crypto

Bitcoin Cash [BCH] Technical Analysis: Token turns the tide, emerges as highest gainer amongst top-10 coins

Bitcoin Cash has come to the fore, emerging as the highest-gainer in the top-10 as the collective market shot-up above the $120 billion-mark. The fourth-largest cryptocurrency is now head and shoulders above the rest of the coins in the market, in terms of 24-hour price increase, with a massive 7 percent price increase in a bearish market.
On 22 January, the BCH price slipped to a one-month low of $118.8, following which it saw a 10.79 percent increase as the coin’s price shot up to $131.64. The market cap of the coin surged by over $225 million in less than a day and is now valued at $2.31 billion.
Exchange dominance has also seen a re-shuffle, with the top spot being taken over by L-Bank, with a BCH trading volume of $22.52 million or 7.57 percent in the BCH/BTC trading pair. The following two spots are taken by P2PB2B in the BCH/USD and BCH/BTC trading pairs respectively.
1-hour:
Source: Trading View
It comes as no surprise that the one-hour BCH trend line shows a stand-out green uptick as the BCH price rapidly rose. Two prominent uptrends can be noticed, the first, larger one, stretching from $120.77 to $129.3 and the second, shorter one, extending from $127 to $130.12. Prior to the uptrends, the BCH price fell during the past weekend, indicated by the downtrend from $128.54 to $121.78.
Bitcoin Cash has skyrocketed past its immediate support level pegged at $119.94 and it is very likely to break its resistance placed at $130.49. The previous support and resistance levels of the coin were placed at $125.72 and $130.18 respectively.
The Chaikin Money Flow indicator points to a bullish market as the CMF line is above 0, indicating an inflow of money into BCH.
The Parabolic SAR shows that the coin is trading with bullish momentum as the dotted lines are aligned below the coin’s trend line.
The Awesome Oscillator confirms the above indications, as the AO line is green, showing a bullish swing to the BCH market.
1-day:
Source: Trading View
Despite the positive signs in the above one-hour chart, the one-day chart indicates that post the hardfork, BCH prices are on a steep decline, indicated by the massive downtrend stretching from $626.31 in mid-November to $139.64 in January. A brief uptrend, immediately prior to the hardfork, is also noticed from $429.62 to $628.56.
Bitcoin Cash’s support level of $76.7 has long been surpassed, with the coin trading at almost double of the support figure. However, the recent increase in the BCH price is still not close to the immediate resistance level of $196.84.
The Bollinger Band points to a long-run decrease in volatility for the coin as the Moving Average line shows that the coin is trading in a marginally bearish market.
The Fisher Transform indicator shows a crossing over of the Fisher and Trigger lines, indicating a bullish Bitcoin Cash market.
The Relative Strength Index has been on the rise since the week began and is currently pegged at 43.64, up from a low of 37.34 from last week.
Conclusion:
Bitcoin Cash is currently leading the top-10 coins list in terms of short-term price increase, which is confirmed by the one-hour chart indicators, pointing to a bullish market. In the long-run, however, the coin is still fighting off the bears and is looking to break into a bullish zone, with the one-day chart indicators pointing to the same.
The post Bitcoin Cash [BCH] Technical Analysis: Token turns the tide, emerges as highest gainer amongst top-10 coins appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] could soon see an imminent breakout due to recurring bear pennant pattern

The price of Bitcoin is currently in a consolidation phase after formation of a recurring pattern twice within the span of a month. The current price of Bitcoin, at the time of writing, was $3,580, with the market cap hovering at $63 billion.
1-hour
Source: TradingView
Bitcoin’s price action, as seen in the chart above, is the best example of history repeating itself. The overall trend of Bitcoin is a downtrend as it has consistently been forming lower lows as seen in the hourly charts.
Pennant
There is a clear formation of a pennant in the price action chart, which breaks out to the top and then moves in a sideways fashion before dropping to retrace the same pattern all over again. However, it will be in a slightly lesser proportion compared to the one before.
Pennants usually show how the price gets caught up between forming lower lows as they head towards the peak of the pennant, where they have no more room, thus causing a breakout.
The first pattern started its formation on December 27, 2018, and it proceeded to ricochet between the trend lines consistently. The price broke out of the pennant pattern caused a massive spike of 6.56% as the prices rose from $3,838 to $4,090, The spike was followed by a sideways movement, which caused a sudden collapse in prices.
Fibonacci Retracement
The sudden collapse in the prices took place in two distinct steps, which occurred at the 0.618 Fibonacci level. The 0.618 level or the 61.8% level is deemed as the most important level by most traders. The price drop happened from $4,026 to $3,618, making a pit stop at $3,812, which, in total, was a drop of 10.13%. By observation, it can also be noted that the second collapse was almost half of the first one.
The second pattern that formed, followed the footsteps of the previous pattern and the price broke out of the pennant at $3,625 and reached $3,728, which was a total percentage increase of approximately 3%, which is half of the previous breakout. This followed by yet another sideways/downtrend movement, which collapsed again at the same Fibonacci level as the previous pattern. The collapse took place from $3,689 to $3,514 with a stop at $3,587 at the 0.618 or 61.8% Fibonacci level. The total decline was 4.74%, which is approximately half of the previous collapse.
Moreover, before the formation of the second pennant, the sideways movement of the prices found support at 0.886 or 88.6% Fibonacci level of the first pattern which was eventually broken as the prices fell lower.
At the moment, the prices are being supported at the 0.86 or 88.6% Fibonacci level of the second pattern, which is at $3,514, a perfect correlation. If the prices ever decide to break below this support, there is going to be a collapse.
1-day
Source: TradingView
The one-day chart also shows a consistent downtrend with prices forming lower lows, indicating a strong bear trend for Bitcoin. Bitcoin’s fall into the abyss is currently being supported by two supports, the first and the imminent support is at $3,477, which was tested multiple times. The second support is the lowest that Bitcoin reached in 2018, which is at $3,139.
Volume 
The volume indicator shows a very important indication of decreasing volume that has been in play since mid-November, which confirms that the price will undergo a massive and sudden change in the future.
The change, as per the technicals, indicates that the price should move downwards, however, the prices could go either way.
The Relative Strength Index also shows a declining trend, indicating that the selling momentum for Bitcoin is increasing.
Conclusion
The one-hour chart shows a recurring pattern in which the prices are being supported at the 0.86 Fibonacci level. If the price ever decides to drop to below the current support it would face the next immediate support at $3,136. In a worst-case scenario, the price would go into a free fall until $1,900 and the price was last seen at this point on July 14, 2017.
If the breakout happens to the upside then the price would have no resistance until $4,422 to $5,000, where the prices will be tested before it moves up. However, the one-day chart shows a declining volume trend, which indicates a strong movement in price that might happen in a few days.
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Source: AMB Crypto

Bitcoin [BTC] and other cryptocurrency exchanges are not money transmitters under MTA, says State of Pennsylvania

The State of Pennsylvania has released a statement on Bitcoin and other cryptocurrencies on their official portal. This guidance is in relation to the Money Transmitter Act [MTA] aka Money Transmission Business Licensing Law applicable to virtual currency exchanges.
The official statement also reveals that the Department of Banking and Securities [DoBS] of Pennsylvania has received multiple inquiries from businesses engaged in providing services related to buying, selling and trading cryptocurrencies. This was followed by the DoBS stating that the guidance is being published as they will not be addressing all the requests on a case-by-case basis.
According to MTA, money is defined as currency or legal tender that is recognized as a medium of exchange. To add on, the law of Pennsylvania stated that currency issued by the US government is only recognized as money in Pennsylvania. Due to this, Bitcoin and other cryptocurrencies are not classified as money according to the act. The statement also points that in the US, there has been not a single jurisdiction that has declared digital currency as a legal tender.
“…Thus, in order to “transmit” money under the MTA, fiat currency must be transferred with or on behalf of an individual to a 3rd party, and the money transmitter must charge a fee for the transmission”
They stated that a majority of the requests related to guidance on the applicability of the MTA were from cryptocurrency exchanges that were web-based. This was further followed by the DoBS deeming that these platforms are “not money transmitters” under the Money Transmitter Act.
“The Platforms, while never directly handling fiat currency, transact virtual currency settlements for the users and facilitate the change in ownership of virtual currencies for the users. There is no transferring money from a user to another user or 3rd party, and the Platform is not engaged in the business of providing payment services or money transfer services.”
The DoBS also gave an official statement on Kiosks and ATMs. They said:
“In both the one-way and two-way Kiosk systems, there is no transfer of money to any third party. The user of the Kiosk merely exchanges fiat currency for virtual currency and vice versa, and there is no money transmission. Thus, the entities operating the Kiosks would not be money transmitters under the MTA.”
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Source: AMB Crypto

Bitcoin and other cryptocurrencies must migrate from PoW, says Bank for International Settlement in a research paper

Bitcoin’s search volume for the global market as a whole piqued in Q4 of 2017 when it’s price hit an all-time high of ~$20,000.
This search volume for Bitcoin far exceeded that of Gold, Silver, US Dollar. Much of the appeal/attraction for Bitcoin or other cryptocurrencies comes from the fact that there is no central controlling authority and the fact that one can be their own bank.
As exciting and promising Bitcoin sounds, a paper published by Bank for International Settlements says otherwise. The paper titled “Beyond the doomsday economics of “proof-of-work” in cryptocurrencies” mentions how Bitcoin’s Proof-of-Work [PoW] consensus mechanism has two flaws. The paper also touches on the economics of Bitcoin and PoW, whilst imploring what the future might hold for Bitcoin and other cryptocurrencies that are based on similar consensus algorithms.
The first limitation that the paper stated was that Proof-of-Work axiomatically requires high transaction costs to ensure payment finality.
As per Satoshi Nakamoto, double-spending is an attack by a large miner controlling a significant fraction of the network’s computational power. The paper stated:
“Nakamoto’s definition of payment finality (although not explicitly spelled out as such) is thus operational: the deeper a payment is buried in the ledger, the less likely an adversary with given computational resources will succeed in a double-spending attack.”
Double-spending on such a network of nodes would actually be more profitable than mining, hence, the blockchain for Bitcoin includes “economic payment finality” –  the instant that payment to another party is completed, at which point the receiving institution has irrevocable access to the money.
This can be avoided by incentivizing miners with a very high required ratio of income as compared to the transaction volume [the amount that can be double-spent].
Moreover, the paper provided a rough example that the mining income must amount to 8.3% of the transaction volume, which is a multiple of the transactions fees in today’s mainstream payment services.
The second limitation that the paper stated was that the system cannot generate transaction fees in line with the goal of guaranteeing payment security and that the system either works below capacity and users’ incentives to set transaction fees are very low or the system gets congested and suffers scalability issues.
Furthermore, the paper noted:
“Underlying this is a key externality: the proof-of-work and hence the level of security is determined at the level of the block one’s transaction is included in, with protection also being provided by the proofs-of-work for subsequent blocks… While each user would benefit from high transaction fee income for the miner, the incentives to contribute with one’s own fee are low.”
The paper concluded that PoW can only achieve payment security if mining income is high, but the transaction market for Bitcoin will not be able to generate an adequate level of income. As a result, the liquidity is set to deteriorate substantially in the future.
The paper stated:
“A simple model suggests that ultimately, it could take nearly a year, or 50,000 blocks, before a payment could be considered “final”.”
Moreover, the research indicated that the second-layer solutions for Bitcoin and other PoW-based assets like the Lightning Network or Sidechains can improve the economics of payment security but they in themselves still face scaling issues.
Due to the above-mentioned facts, the liquidity of Bitcoin and other digital assets that have forked from Bitcoin and PoW based cryptocurrencies will eventually need to migrate from PoW consensus algorithm to a more fitting and evolving consensus algorithm.
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Source: AMB Crypto

Bitcoin Cash [BCH] escapes the bear as price shoots up by more than 7%

As the cryptocurrency market enters the last week of January, the behavior of tokens have also seen a change as some coins are in the green while others are still bleeding. The sporadic movement has been ongoing for quite some time now, with cryptocurrencies like Bitcoin [BTC], XRP and Bitcoin Cash [BCH] all suffering the same fate, until today.
On January 23, Bitcoin Cash saw a resurgence with the prices climbing on the charts. At the time of writing, BCH was rising by 7.06%, with a total market cap of $2.295 billion. The cryptocurrency was trading for $129.85 and had a 24-hour market volume of $276.262 million.

The chart showed that over the past 24 hours, Bitcoin Cash had climbed from a bottom of $119.94 to reach a peak of $130.42, before settling at its current price. The Chaikin Money Flow indicator on the chart also points to a significant spike, a sign of the massive amounts of money coming into the market during the price rally.
The total trade volume of BCH was majorly split between three exchanges: LBank, Huobi Global and P2PB2B. LBank had a grasp on $22.821 million worth of BCH trade while Huobi Global and P2PB2B saw BCH transactions worth $35.191 million taking place on the platform.
Bitcoin Cash has been in the news multiple times over the last few weeks, mainly due to updates and comments from its proponents. Roger Ver, the Chief Executive Officer of Bitcoin.com and one of the most vocal supporters, had recently announced that Bitcoin.com’s wallet will receive its update soon. The news had also rallied users of the wallet, one member even listing out the features needed in the update; spend and replace built right into the wallet, strong privacy thanks to Coinshuffle, and improving the transaction creation, signing, and broadcasting speed.
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Source: AMB Crypto

Bitcoin Cash [BCH] Technical Analysis: Bears charge towards BCH following weekend decline

Bitcoin Cash [BCH], the fourth-largest cryptocurrency has been pushed down due to the bearish market forces yet again. The collective cryptocurrency market fell by a massive $5 billion over the weekend and since correcting forces have not stepped in yet, the market cap is languishing at $118 billion, its lowest since mid-December.
At press time, BCH has declined marginally against the US dollar in terms of 24-hour price change, however, the market cap of the coin has fallen to $2.14 billion, just $20 million ahead of EOS [EOS], in the fifth place.
In terms of exchange-volume dominance, Bitcoin Cash [BCH] is being traded the most on P2PB2B with the following three trading pairs: BCH/USD, BCH/ETH, and BCH/BTC accounting for the following share: 8.24 percent, 7.51 percent, and 7.43 percent respectively. The next two exchanges holding maximum BCH volumes are HitBTC and LBank.
1-hour:

The one-hour Bitcoin Cash trendline boasts two prominent downtrends with contrasting severities. The first occurring prior to last weekend extends from $130.02 to $127.2, the second beginning at the close of the weekend extended from $128.49 to $$121.47. A meager uptrend was also noticed from $127.16 to $129.5.
Bitcoin Cash’s immediate support level is pegged at $119.64, which the coin is hovering over. The immediate resistance level of the coin is $123.07, which the coin slipped below on 20 January. The other resistance and support level of the coin is at $130.43 and $125.37.
The Bollinger Bands point to a decline in the volatility of Bitcoin Cash, as the weekend’s price fluctuations have stabilized. The Moving Average line points to a bearish trend in the market.
The Fisher Transform indicator points to a bearish market as the Fisher line has overtaken the Trigger Line.
The Awesome Oscillator indicates that the Bitcoin Cash market has been taken over by the bears, as the AO line is below 0.
1-day:

The one-day trend line boasts a significant downtrend during the Bitcoin Cash hardfork that split the coin in two and sent the market into a spiral. The first downtrend began prior to the hardfork and extended from $854.67 to $452.38, 47.06 percent decline, and the second one, post the November hardfork extended from $628.38 to $134.94, a whopping 78.52 percent decline.
The immediate key support level of the coin stands at $72.09, which the coin has not come close to since mid-December. The immediate key resistance level stands at $197.80, which the coin fell below at the beginning of the month. The previous support level stood at 411.52. The previous resistance levels were pegged at $650.38 and $628.38 respectively.
The Chaikin Money Flow points to withdrawal of money from Bitcoin Cash as the CMF line has dipped below 0.
The MACD Line points to a mildly bearish trend. Bitcoin Cash almost broke into a bullish territory at the beginning of the year but because of the bearish pressure, it failed to escape.
The Parabolic SAR points to a bearish market as the dotted line is aligned above Bitcoin Cash’s trend line.
Conclusion:
In the short term, Bitcoin Cash [BCH] has severely declined as the week began, trading at a low of around $119.34, while last week it saw a high of $131.69. However, in the long-run, the bears have softened their grip on the BCH market, as the trend line looks to stabilize and major indicators point to only a marginal bearish momentum for the coin.
The post Bitcoin Cash [BCH] Technical Analysis: Bears charge towards BCH following weekend decline appeared first on AMBCrypto.
Source: AMB Crypto

Cardano [ADA] Technical Analysis: Bear holds strong on to the token’s future

The eleventh-largest cryptocurrency on CoinMarketCap, Cardano [ADA] exhibited a uniform price during the first part of the January 20. A gradual decline in its valuation was noted later in the day followed by a steady surge during the first half of the next day. Cardano developer, Charles Hoskinson, hosted his latest impromptu AMA session last week, disclosing the launch of a revamped Daedalus wallet structure in its 1.5 version, which would aid the coin’s scaling up the process.
At the time of writing, ADA held a market cap of $1.110 billion. The coin was priced at $0.043 and the volume of coins traded accounted for over $16.5 million, with a decline of 0.89%.
1-hour
Source: Trading View
The uptrend registered by the coin during the one-hour period tallied from $0.045 to $0.046 and a downtrend from $0.046 to $0.043. The first resistance was marked at $0.044 and the immediate support at $0.042.
The Bollinger Bands indicator exhibits a contraction in the graph, depicting a decline in price volatility of the market.
The Awesome Indicator depicts a bearish pattern in the coin’s price, with the lines turning green.
The Klinger Oscillator shows a bearish market trend for the coin.
1-day
Source: Trading View
The one-day ADA graph shows an uptrend from $0.030 to $0.041 in its price, accompanied by a whopping downtrend from $0.077 to $0.046. The coin has faced an immediate resistance at $0.05 and support at $0.037.
The Parabolic SAR indicator traces a bearish market pattern for the coin, with the series of dotted line aligned above the candles.
The MACD indicator for the same time period also forecasts a bearish pattern, with the MACD line below the signal line.
The Chaikin Money Flow graph lies below the zero-line, which depicts that the price of the coin is following a bearish trend with money flowing out of the market.
Conclusion
As indicated by the indicators MACD, CMF and Parabolic SAR on the one-day chart and the AI and Klinger Oscillator on the one-hour chart, the future of ADA still lies in the bear’s realm.
The post Cardano [ADA] Technical Analysis: Bear holds strong on to the token’s future appeared first on AMBCrypto.
Source: AMB Crypto

XRP/USD Technical Analysis: Market suffocates cryptocurrency as prices remain unchanged

The cryptocurrency market’s volatile nature has been prolonged with a majority of the top coins suffering the same fate. Cryptocurrencies like Bitcoin [BTC], XRP and Ethereum have been going through a mixed phase of bullish and bearish trends, sometimes taking the side of the bull for a longer time. XRP, at the time of writing, had a bearish undertone, which was reflected by most of the other cryptocurrencies too.
1-hour:

XRP’s one-hour graph paints the picture of a cryptocurrency undergoing sideways movement as a result of the unmoving market. XRP’s immediate support has been holding at $$0.318 while the resistance is at $0.343. The downtrend brought the prices down from $0.337 to $0.322.
The Relative Strength Index shows the graph staying in the middle of the overbought zone and the oversold zone. The hold in the middle is a sign of a relative equilibrium between the buying pressure and the selling pressure.
The MACD indicator comprises of the signal line and the MACD line moving as a conjoined pair after a bearish turn. The MACD histogram, on the other hand, is a mix of both bearish and bullish signals.
1-day:

The one-day graph for XRP bears a resemblance to the one-hour graph as both shows sideways price movement. The long-term support is currently at $0.262 while the recent downtrend resulted in the price falling to $0.374 from $0.515.
The Chaikin Money Flow indicator has taken a steep dip below the zero line. This is a sign of the capital leaving the market increasing in momentum compared to the capital coming into the market.
The Awesome Oscillator has shown a dip in its graph when placed side by side with the other time periods. The lull in the graph signifies the lack of market momentum.
Conclusion:
The above-mentioned indicators all point to a bear regime, with an extended bear run predicted. As the investor sentiment sours due to the unmoving market, proponents of the field expectantly wait for the market to go green before recording the longest bear market in the history of cryptocurrencies.
The post XRP/USD Technical Analysis: Market suffocates cryptocurrency as prices remain unchanged appeared first on AMBCrypto.
Source: AMB Crypto

BitTorrent creator: “never been affiliated with Tron or Justin Sun”

Tron [TRX], the ninth largest cryptocurrency in the space, has been making a lot of buzz in the space. This has led to the coin gaining a lot of attention from other communities in the space as well. The main reason it is currently a hot topic of the space is its BitTorrent acquisition.
BitTorrent is considered to be one of the biggest acquisitions in the space as it has always been greeted with high-regard by several influencers in the space as it is the largest file-sharing peer-to-peer platform around the globe and because of its use-cases.
The speculation of Tron acquiring the platform was doing its rounds in the space much before the actual announcement. Additionally, some reports claim that Justin Sun, the Founder and CEO of Tron Foundation, had filed for a temporary restraining order on the platform as the software company had started look for more prospectus bidders. In the end, the Foundation acquired the biggest Torrent platform for over $140 million.
This was soon followed with news that employees had started to take the exit route after the acquisition, wherein five employees were confirmed to have left the firm. This turned out to a major blow for the Foundation as they released a statement clarifying the entire situation, citing that despite some taking the exit gate there were many who joined the bandwagon.
Now, Bram Cohem, creator of BitTorrent, has spoken about the Tron and the Founder on his official social media handle. He said on Twitter:
“I’m no longer in any way affiliated with BitTorrent and have never been affiliated with Tron or Justin Sun”
Along with this, the creator also spoke about the speculation of Sun investing in his current project, Chai Network. Cohem has clarified that neither Sun nor the Foundation have any shares in the project.
Chris Burniske, Partner at Placeholder said on Twitter:
“@Tronfoundation’s$TRX is pumping because it will allow people to claim #BitTorrent-coin ($BTT). Though, per tweets like Bram’s & other whispers, Tron is just shilling BitTorrent’s brand, while talent bleeds & workability of $BTT is an afterthought.”
Recently, the Former Chief Strategy Officer of BitTorrent, Simon Morris was also in the limelight for his statement against the Foundation’s current project and Justin Sun. In an interview with Breaker Magazine, he stated that Tron network will not be able to process BitTorrents’ transactions.
Nonetheless, this was soon brushed off by Sun, wherein he claimed that the team will be opting for on-chain/off-chain transactions and ensure that Tron network will be able to handle the token’s transactions.
The post BitTorrent creator: “never been affiliated with Tron or Justin Sun” appeared first on AMBCrypto.
Source: AMB Crypto