Bitcoin Cash [BCH], Litecoin [LTC], Binance Coin [BNB] Become Biggest Losers; Dip By More Than 8% In A Day

As the cryptocurrency market turned red yet again, some of the biggest altcoins that have been observed to perform well lately showed a major dip in the last 24 hours. While Bitcoin Cash and Litecoin plunged by 8%, the earlier bullish Binance Coin also witnessed a dip of over 9% in its price. However, this could just be a correction after the rally.
Bitcoin Cash
Apart from the 24-hour cycle, BCH has also shown a great decline on the weekly chart. In the span of 7 days, the token plummeted from a trading price of $315 where it’s market cap was $5.5 billion to $272 with a market cap of $4.8 billion.
BCH 7d chart source Coinmarketcap
Across the past week, Bitcoin Cash began the cycle in the green zone but was soon knocked down by the bear. By the middle of the timeline, the coin was trading at $2.82. However, it performed a sudden upswing and rested at a bullish price of $308. By the end of the week, BCH, similarly to its fellow altcoins was pulled back into the red zone.
At press time, Bitcoin Cash is trading at $275 with a market cap of $4.8 billion. It’s the 24-hour total trading volume is accounted at $1.6 billion.
Litecoin
LTC has followed a similar pattern when compared to BCH on the weekly timeline. On the 7-day chart, Litecoin began its journey by trading at a bullish price of $79 with a market cap equivalent to $4.9 billion. However, this was not the week-peak for the coin as it displayed a major upturn and reached $83 at one point.
LTC 7d chart source Coinmarketcap
Clearly, the observed jump did not stabilize LTC at its bullish position, after which the coin strolled down to $75 mid-week.
Today, the token touched its lowest point of the week after attempting to escape the bear claws. At the time of writing, LTC was traveling at a relatively lower price of $72 with a market cap of $4.4 billion. Its trade volume in the 24-hour cycle was recorded at $2.9 billion.
Also Read: Coinbase Cryptocurrency Exchange Shutdowns Office in Chicago, 30 Employees Lose Jobs
Binance Coin
The coin that has recently claimed its position in the top-10 list of cryptocurrencies is currently showing price correction after a bullish performance in the market. Interestingly enough, it is the only coin among the three that is displaying progress on the weekly chart.
At the beginning of the week, BNB was trading at $19.6 where its market cap was recorded at $2.7 billion. As it progressed in the timeline, the token showed its first upturn at $24.7 and finally reached the highest of the week at $25.3.
BNB 7d chart source Coinmarketcap
Binance Coin could not hold the price at its high point but sustained a trading price above the starting price. This made BNB the higher gainer of the week, followed by Bitcoin.
Witnessing the reds in such deep shades, the cryptocurrency market continues to baffle the community. The situation begs the question of whether we have really entered the bull’s reign.
The post Bitcoin Cash [BCH], Litecoin [LTC], Binance Coin [BNB] Become Biggest Losers; Dip By More Than 8% In A Day appeared first on Coingape.
Source: CoinGape

Is Bitcoin’s Expensive Onchain Transaction Concern for Lightning Network?

On April 23, a researcher and writer in the field of decentralized technology and economies, Noam Levenson shed some light on the actual nature of the Lightning Network (LN) on the Subreddit called r/BTC. Here, a note-worthy observation by the researcher was the trouble that the high-cost onchain BTC transactions could attract the users.
He first stated the challenges forming in regards to the Lightning Network, such as difficulty in maintaining a network map. According to Levenson, a topology is required to route transactions. Here, he added:
“Problems with this are both the eventual enormous size of the topology and the number of messages that would need to be sent in order to determine the topology.”
The techie also introduced solutions to the above conundrum, mentioning that the network could either be utilized for microtransactions or the users would have to rely on centralized hubs to maintain the network.
Also Read: Crypto Investment Rises in South Korea as the Middle Age Population Doubles its Exposure Taking It to USD 6100
In case of relying on centralized hubs, he raised the issue of high cost on onchain transactions for Bitcoin, which might give the hubs more power over individuals. He also mentioned:
“This is especially relevant to any transactions that fall under the “dust” level of BTC (i.e. the cost of onchain transactions). If a transaction falls under this metric, time lock hashes cannot be used and the transaction ceases to be trustless.”
As a result, users could lose a lot of money on onchain transactions in the form of dust. Furthermore, they would not be able to switch to another hub if the one being used turns out to be untrustworthy. In addition to this, Levenson propagated that this is particularly because executing an onchain transaction to open a new channel with a different hub could be very expensive.
However, his main intent was not to criticize the Lightning Network but to fetch several distinct opinions of experts on the subject. While he presented many other concerns for the technology, he also marked his purpose at the beginning of the post, saying:
“Currently, I’ve read everything I could on the LN, including criticisms and responses to those criticisms and so on. Before I publish my article, I want to post my conclusions here for anyone to present any counter-arguments. Please do so.”
The post Is Bitcoin’s Expensive Onchain Transaction Concern for Lightning Network? appeared first on Coingape.
Source: CoinGape

Bitcoin’s Golden Cross: Fake-out or Real Bull Market on Horizon?

“This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro”
On April 23, Senior Market Analyst at eToro, Mati Greenspan commented on the Bitcoin rally that took its price above $5,500. He also mentioned the surge that was seen in BTC price, recorded at $5,622. In his official Newsletter, the market expert stated:
“Just like that, it seems everyone is bullish on bitcoin again.
Another strong surge during the Asian session today brought us to a new high of $5,622 a coin, the highest level since November’s capitulation.”
Regarding the speculated reasons for the great spike, he mentioned that there does not seem to be specific causes or catalysts for the rally at present. Furthermore, he suggested that the upswing must have been the result of a mere shift in outlook.
A Twitter post by Greenspan also explained how this rally was a Golden Cross for Bitcoin. This is because BTC’s short-term moving average performed a crossover by the long-term moving average. The analyst took to a chart to exhibit the phenomenon.
Source: Twitter
Referring to this technical chart, he explained that the presentation shows Bitcoin’s 50-day moving average (gold) crossing above its 200-day moving average (blue). Greenspan believes that this could be a stark sign of the bull market making a comeback.
Also Read: Bitcoin [BTC] Begins Rally With Two Strong Bullish Signals, First ‘Take Profit’ at $5800: Analyst
However, this is not the only time the Golden Cross has been observed in the journey of Bitcoin in the crypto-market. In July 2015, BTC plunged after a similar showing similar signs. Soon after, in October 2015, a Golden Crossover took place that carried on till 2018. On this, Greenspan took to Twitter comments and wrote:
“Yes, that was a false golden cross. However, the one in October 2015 was sustained until 2018.”
Goomba, a cryptocurrency enthusiast, and follower also opined in the Twitter thread, saying:
“Also history tells us this cross doesn’t mark the end of the bear market”
The question still remains if Bitcoin and the others are off to seeing the real bull market. As warned by many, this Golden Cross could just be a fake-out, similar to the one seen in early 2015.
The post Bitcoin’s Golden Cross: Fake-out or Real Bull Market on Horizon? appeared first on Coingape.
Source: CoinGape

Bitcoin [BTC] Breaches $5,500 Mark, Soared by 10% This Week; Bulls are Back?

On April 23, Bitcoin finally broke out above $5,500 to mark its highest record in 2019. At the time of writing, BTC was trading in the green zone at $5,560 with a market cap of $98.1 billion. Here, its trading volume was recorded at $16.2 billion.
1 hr Chart Source: TradingView
The highest trading volume of the king coin was observed to be flowing in from BitMEX, an only-Bitcoin exchange. The pair that brought in the most investment was XBT/USD. which is a part of Perpetual Contract designed by the exchange. On BitMEX, the trading volume was recorded at $2.66 billion.
The second highest trading volume was $1.4 billion, according to CoinMarketCap. Here, the contributor was FCoin with the pair BTC/USDT.
During the past month, the state of Bitcoin has excelled as it was trading at just a little above $4,000. However, it underwent several upswings to reach where it is today.
A major upturn on the BTC chart was noted in the first week of April when the coin went up from $4,163 to $5,256 in a span of two days. From this point, the token adhered to the $5,500 spot until now.
Source: CoinMarketCap
Since crypto-winter, all the big coins that were stuck in red zone arose from their graves to an eco-friendly spirit. Many altcoins, such as Litecoin [LTC], Bitcoin Cash [BCH] and Binance Coin [BNB] have exhibited a massive spike in their prices and overall market performances. Recently, BNB broke into the top-10 cryptocurrency list while displaying its all-time-high figure on the price chart.
Also Read: Shop on Amazon and Buy Dominos’ Pizza Through Bitcoin Becomes a Reality
While BNB continues to amaze, Litecoin also entered the list of legendary performers with flying colors. During the bear market a few months ago, the coin was trading below an impoverished zone below $30. Soon, LTC took off as investor sentiment grew due to the launch of Lightning Network. Since then, the token’s value has more than doubled.
The crypto-community is onto celebrating a rising future for its industry as the bull is gradually phasing out the bear’s impact on the markets. Many technical advancements have also become apparent that would take the industry to the cusp of real-world applications.
The post Bitcoin [BTC] Breaches $5,500 Mark, Soared by 10% This Week; Bulls are Back? appeared first on Coingape.
Source: CoinGape

Binance Coin [BNB] Spikes by 6%, Becomes Top Gainer in 24-hour Cycle

After a bearish morning for all the leading coins across the cryptocurrency board, the market finally turned green with Binance Coin taking the charge. At the time of writing, BNB token rocketed by 6.12% where it was trading at $24.56 with a market cap of $3.46 billion. Here, its trading volume was recorded at $245.5 million.
BNB 1-day price chart; Source: CoinMarketCap
Recently, BNB has been performing relatively bullish than its contemporaries. In January, the coin was frozen in the red zone by the crypto-winter and was still trading at around $6. However, it was soon observed that Binance Coin had hit the All-Time-High and surpassed the performance by its competitors.
Also Read: Ethereum, Monero and XRP Bullish, Peter Brandt Lists Stop Loss Levels To Watch-Out For
On the weekly front, the token has shown outstanding spirit as the figures reflect a hike of at least 25% in its market price. At the beginning of the 7-day cycle, BNB was trading much lower at a price of $19.76 where it’s market cap was equivalent to $2.78 billion. In a week’s time, the market cap took a flight and showed an increase of around a billion dollar.
BNB 7-day price chart; Source: CoinMarketCap
Furthermore, BNB also broke over $25 in the last 48 hours and has maintained consistency since then.
One of the biggest reasons that are attracting investment on the token is the launch of Binance Chain, the blockchain protocol by Binance. Being the biggest cryptocurrency exchange in the world, Binance has majorly influenced BNB’s market performance with such announcements.
Today, the official Twitter of Binance DEX also posted the news of its integration with CoolWallet S app. This, the exchange claimed, would allow seamless interaction between the user’s desktop, DEX, and CoolWallet app.
Here, a Twitter handle dedicated to XRP called RareData commented:
“With a DEX live for years for @Bitstamp USD, @GateHub EUR, @Bitso MXN etc. I would love to see the same functionality enabled for the XRP ledger!”
Another Twitter user and a cryptocurrency enthusiast, Robert Miller also wrote:
“Their support is the best I’ve ever seen.”
The post Binance Coin [BNB] Spikes by 6%, Becomes Top Gainer in 24-hour Cycle appeared first on Coingape.
Source: CoinGape

Litecoin [LTC/USD] Technical Analysis: Positive correlation to achieve long-term bullish goals

As Litecoin [LTC] keeps switching between the seventh and the eighth position, it is currently showing a healthy run. At the time of reporting, the coin was up by 0.35% wherein it was trading at a fair price of $32.2 with a market cap of $1.92 billion. Here, the total trade volume in the past 24 hours was recorded at $426.4 million.
1-hour:
LTCUSD 1-hour candlesticks | Source: tradingview
In the scenario of one-hour candlesticks, LTC is witnessing an uptrend stretching of $28.7 to $30.6 whereas the downtrend is spotted from $34.4 to $32.9. There is concentration noticed in the prices, preparing for a trend breakout.
The Bollinger Bands are following a broad tunnel pattern to give way to price fluctuation. No change in volatility is expected in the market anytime soon.
The Aroon indicator is showing a lowered strength in the red as well as the green trend. This is indicative of a sideways market trend for the cryptocurrency.
The Awesome Oscillator has turned bullish on Litecoin as the bars are glowing green to pass a safety stance of the matter.
1-day:
LTCUSD 1-day candlesticks | Source: tradingview
In the longer time frame of one-day candlesticks, the coin is experiencing a steep downtrend of $55.8 to $32.2 whereas the support level is suspending at $22.8 level. A trend breakout is not suspected as the price-concentration is absent here.
The Parabolic SAR is bullish on the matter as the dots continue to align themselves below the price candles.
The RSI is in sync with the above as the indicator is suggesting a high buying pressure on the graph, making up for a healthy market for LTC.
The MACD also made a bullish crossover by the signal to predict a positive price trend for the token. To confirm the stance, the reading line is still moving in upwards direction.
Conclusion
In this technical analysis, it has been observed that the majority of indicators are supportive of a bullish for the cryptocurrency. However, high volatility is to be expected in the current Litecoin market.
The post Litecoin [LTC/USD] Technical Analysis: Positive correlation to achieve long-term bullish goals appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC]’s value-proportion “increased massively” in Dec 2017-18, says Francis Pouliot

Francis Pouliot, the CEO and Co-founder of a Canadian firm called Bull Bitcoin, recently posted a series of tweets that discussed the incidents projecting a bullish signal for the cryptocurrency from its early days till the present. Here, the BTC enthusiast made several references to the past and recited the journey of the coin through events such as the slaying of ‘BearWhale’ in 2014 and much more. The original tweet by Pouliot read:
“1/ Looking back at Bitcoin Markets
I learned years ago the futility of trading on $BTC market. My strategy: stable $BTC income, business profits in $BTC, not owning fiat.
My thesis: $BTC markets have a pattern of discovering the increase in $BTC held by hodlers last resort.”
In 2014, the supporters of Bitcoin claimed victory over a market manipulator known as BearWhale. In the month of October of the same year, a sell order of 30,000 BTC was placed when the token was valued at $300. This spooked the market in heavy dosage, resulting in the price plunging to concerning levels.
However, the investors fought against the BearWhale resulting in a 25% hike since the incident took place, deploying a higher value for the coin at $375 that year, as reported by Coindesk. Regarding this, Pouliot projected his views and stated:
2/ My first bullish signal was the slaying of Bear Whale in October 2014 (https://www.cnbc.com/2014/10/09/bitcoins-bearwhale-and-the-future-of-a-cryptocurrency.html …).
The second was Backpage being Financially censored and ONLY accept Bitcoin. Tens of thousands of sex workers now need bitcoin. I believe they helped create 2015 $200 price floor.
Secondly, the Bitcoin proponent mentioned Bitcoin Embassy, a group of people closely associated with the cryptocurrency as a remarkable entity. He also stated that the number of podcasts, Bitcoin core presence in terms of the road map, value proposition [a phase before maximalism] also saw an increase.
Furthermore, colored coins, multi-sig, side-chains, merchants, exchanges also came into existence to strengthen the grip of Bitcoin into the world. During this time, many investors sold anything they could to buy BTC at $200.
Next, Pouliot talked about SegWit and conveyed that January 2017 saw the expectations of the technology getting activated. In his words:
“4/ Bullish: January 2017 I became convinced segwit would activated. The third was after we won #UASF August 2017 (sophisticated investors got it). Third time Nov 2017 #NO2X Segwit, I told family/friends “can’t stop Bitcoin now”. It was, for those involved, an obvious time to buy”
According to him, the value proposition of Bitcoin increased massively in 2017 and 2018 via network effects, coherent ideologies, infrastructure, resistance, anti-fragility, liquidity, power and influence. He also opined that the Bitcoin maximalists and holders of last resort contributing in shaping up the monumental price floor for the market.
In another tweet, Pouliot wrote about the present situation wherein 2019 might be the year of demand for Bitcoin, resulting in the increase of BTC’s fundamental value. He added:
“Finance prepares for 2020 financial/economic crisis. Censorship in full swing. European banks fail, geopolitics of trade, B2B settlement, billions gearing up for investments. This creates hodlers.”
In the end tweet, he shared his final view on Bitcoin’s success and the future. As per his post, it is time to get paid and get fiat to start accumulating Bitcoin. Furthermore, he mentioned that 2019 could be the last opportunity for billions of people worldwide to afford 1 BTC.
The post Bitcoin [BTC]’s value-proportion “increased massively” in Dec 2017-18, says Francis Pouliot appeared first on AMBCrypto.
Source: AMB Crypto

Litecoin [LTC/USD] Technical Analysis: Long-term fate of cryptocurrency to be ruled by bullish sentiments

Litecoin [LTC], the eighth-largest cryptocurrency according to CoinMarketCap, is floating in the red space on the price graph. Moreover, the coin has been overtaken by Tether [USDT] once again.
At the time of writing, Litecoin was trading at a depreciated price of $29.17, with a market cap of $1.74 billion. Here, the total trade volume of the token in the past 24 hours was recorded at $410.5 million.
1-hour
LTCUSD 1-hour candlesticks | Source: tradingview
In the one-hour technical analysis of the Litecoin candlesticks, an acute downtrend has been spotted from $35.9 to $29.7, whereas the current support level is set at $27.6. The concentration in prices has packed the market tightly, preparing it for a trend breakout.
The Parabolic SAR is bearish on the cryptocurrency as the dots have aligned themselves above the price candles to give a negative price prediction.
The Aroon Indicator is also bearish on the LTC market as the downward trend is stronger than the upward trend on the graph wherein the green trend has crashed.
The Relative Vigor Index is the only indicator standing with the Litecoin market wherein the RVGI has made a bullish crossover by the signal.
1-day
LTCUSD 1-day candlesticks | Source: tradingview
In the one-day time frame of the Litecoin candles, the downtrend is stretching from $55.8 to $32.9, whereas the support is set at $22.8. However, there is no possibility of a trend breakout in the long-term as price concentration is not visible yet.
The Bollinger Bands are currently depicting a high buying pressure in the LTC market as the reading line is traveling in the buy zone to move further up.
The Chaikin Money Flow is also tending to move up to indicate healthy buying activity in the market. The reading line is currently approaching upwards to cross the 0-mark.
Conclusion
In the technical analysis, it has been observed that the cryptocurrency is going to stay bearish in the short run but will soon turn bullish in the bigger picture. However, not much volatility is expected in the foreseeable future.
The post Litecoin [LTC/USD] Technical Analysis: Long-term fate of cryptocurrency to be ruled by bullish sentiments appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Cash [BCH], Ethereum [ETH], Litecoin [LTC] become biggest double digit gainers

As the cryptocurrency market takes a flight on the bull’s back, three coins on the third, fourth and eighth position have claimed their names under the top gainers of the day list, namely, Ethereum [ETH], Bitcoin Cash [BCH] and Litecoin [LTC].
Ethereum:
At the time of reporting, the coin was valued at $134.81 with a market cap of $14 billion. The total trade volume of the coin in the past 24 hour was $3.16 billion.
ETH 1-day price graph | Source: CoinMarketCap
At the beginning of the 24-hour cycle, the trading price of Ethereum was recorded to be $123 with a market cap of $12.8 billion. However, after many downturns and drops, the coin touched its lowest point of the day at $115.6 wherein its market cap reached a bottom of $12 billion.
Post this, Ether met a bullish fate where its touched the pinnacle of its trading price at $135 with a market cap of above $14 billion.
Bitcoin Cash:
At press time, the BCH token was trading at $173.78 with a market cap of over $3 billion. The total trade volume of the coin across a day was observed to be $489.5 million.

 
The one day chart for Bitcoin Cash has seen a a sudden surge in price as displayed by the drastic spike in the graph. As the year comes to a close, a majority of the cryptocurrencies have displayed a similar surge on the charts, a plateau like formation that showcases the switch between a bearish and bullish trend.
Litecoin:

At the beginning of the 1-day cycle, the token was trading at a low price of $29.58 with a market cap of $1.76 billion. The coin took a steep downturn to trade even lower at $28.42 with a market cap of $1.69 billion.
In a span of an hour, the coin jumped to a high point of $31.27. LTC went even further to gain its momentum and started to trade at $32. Currently, the coin is trading at its highest.
The post Bitcoin Cash [BCH], Ethereum [ETH], Litecoin [LTC] become biggest double digit gainers appeared first on AMBCrypto.
Source: AMB Crypto

Tron [TRX/USD] Technical Analysis: Cryptocurrency to turn bullish in long run

Tron [TRX], the tenth largest cryptocurrency in the world is currently down by 6.6% wherein the token was trading at a depreciated price of $0.0187 with a market cap of $1.25 billion. The trade volume of the 24-hour cycle was recorded to be $108.5 million.
1-hour:
TRXUSD 1-hour candlesticks | Source: tradingview
In the 1-hour analysis, the Tron candlesticks, the downtrend is stretching from $0.0239 to $0.0206 whereas the support level is set at $0.0183. As of now, there is no concentration in price, therefore, a trend breakout is not to be expected.
The Parabolic SAR is bullish on the cryptocurrency as the dots are assembled below the candlesticks.
The Awesome Oscillator is also positive on the fate of Tron. As of now, the bars have turned green and are waving a safe signal for the market.
The Aroon indicator is nodding at the prediction by its fellow indicators. It is currently showing greater strength in the green trend as the red trend continues to crash.
1-day:
TRXUSD 1-day candlesticks | Source: tradingview
In the longer time frame of the Tron candlesticks, the downtrend is ranging from $0.0247 to $0.0204. Here, an immediate, strong support level is set at $0.0119. There is no visible expectations of a trend breakout in the foreseeable future.
The Bollinger Bands have converged to give way to volatility in the Tron market. The bands were running in a narrow tunnel-pattern but have broadened for the prices to fluctuate.
The RSI has just returned from the overbought zone to carry out a trend reversal. However, the indicator is still depicting a high buying pressure and is moving upwards to show a bullish presence.
The Relative Vigor Index has made a bearish crossover by the signal to project a bearish stance in its prediction.
Conclusion:
In this technical analysis, it has been concluded that the majority of the indicators are suggestive of a bullish run for the coin. Moreover, higher volatility is to be expected in the Tron market trend.
The post Tron [TRX/USD] Technical Analysis: Cryptocurrency to turn bullish in long run appeared first on AMBCrypto.
Source: AMB Crypto

XRP adopted by another exchange; Bitrue to announce 5 pairs

Bitrue, a cryptocurrency exchange today announced that it will be adding XRP to its platform, which will be available for trading in five pairs in the first week of 2019. However, the pairs have not been announced till now as the platform has asked the community for suggestions. The original official tweet by Bitrue read:
“We’re happy to announce that we will be on-boarding all #XRP trading pairs in the next couple of months!
We’re planning to add 5 pairs in the 1st week of 2019, so please give us a shout on your most needed #XRP pair! #xrpthebase”
Under the comment section, there were suggestions that included XRP paired with EUR. In cryptocurrencies, Tron [TRX] and Cardano [ADA] were also the popular choices.
The platform mentioned that it will also accept approaches from the community members if they want to be on the priority list of suggestions. In its words:
“We want also to encourage all our partners to reach out if you want to be prioritized in supporting the XRP pair! “
Recently, the biggest cryptocurrency platform in the world, Binance also added XRP as the base pair wherein the current pairs were announced to be with Tron [TRX] and Zcoin [XCZ]. Due to this, XRP price hiked to carry on a bullish run wherein the coin spiked by 21%.
At the time of writing, XRP is down by a mere 1.41%, trading at a price of $0.36 with a market cap of $14.9 billion. The total trade volume for the coin is currently recorded at $574.3 million.
Booboo, a Twitter user commented,
“XRP / TRX. XRP/ ADA. XRP /VET hell, why not use it as a base trading partner with ALL the coins?”
Tomas Vanicek, another Twitter user said:
“Xrp/Eur, Europe is huge and hungry”
The post XRP adopted by another exchange; Bitrue to announce 5 pairs appeared first on AMBCrypto.
Source: AMB Crypto

Tron [TRX/USD] Technical Analysis: Cryptocurrency to rise and fall due to volatility

The cryptocurrency markets are undergoing wild waves of volatility where all the coins across the board are currently painted red. Here, Tron [TRX], the tenth-largest coin, is also down by 0.5% wherein the token is trading at $0.0199, with a market cap of $1.32 billion. The total trade volume of the token in 24 hours is seen to be $98.1 million.
1-hour
XRPUSD 1-hour candlesticks | Source: tradingview
In the one-hour time frame of the Tron candlesticks, the downward trend line is stretching from $0.0239 to $0.0208 where the upward trend is ranging from $0.0189 to $0.020. A price concentration has been noticed in the TRX market as prices look tight for a trend breakout to erupt.
The Parabolic SAR is bearish on the cryptocurrency as the dots have assembled themselves above the price candles to resist a positive price movement.
The Aroon Indicator is showing a weakened green trend, giving the red trend an edge in the market. This indicates a bearish prediction by the reading line.
The Relative Vigor Index is also bearish on the cryptocurrency as the reading line made a bearish crossover by the signal. However, the RVGI has deviated to an upward approach.
1-day
XRPUSD 1-day candlesticks | Source: tradingview
In the one-day scenario, the downtrend is ranging from $0.0247 to $0.0216 and the uptrend is stretching from $0.013 to $0.02. In this case, price concentration has been spotted to some extent. However, there is no strong possibility of a trend breakout.
The Bollinger Bands are showing a high degree of volatility in the market to suggest wild fluctuations in the TRX price trend.
The RSI has judged a trend reversal due to the reading line bouncing back down after traveling in the overbought zone. The buying pressure is still high but is crashing with the decline in the buying activity.
The Chaikin Money Flow indicator is moving below the 0-mark, depicting a low buying pressure. Therefore, the indicators seems to be bearish on the cryptocurrency.
Conclusion
In the technical analysis, the indicators used in the short-term are bearish along with the ones used in the longer time frame that have predicted a trend reversal in the bear’s favor. A volatility of high magnitude will be experienced in the market as suggested by the Bollinger Bands.
The post Tron [TRX/USD] Technical Analysis: Cryptocurrency to rise and fall due to volatility appeared first on AMBCrypto.
Source: AMB Crypto

XRP is a security? Social media welcomes another debate on the matter

Dr.T, a prominent member of the XRP community challenged Ari Paul in a Twitter thread about XRP not being a security. Here, Dr.T stated that XRP is not a security because the digital asset was created before Ripple. Furthermore, Ari Paul and a few others engaged in an intense argument on the subject. The original tweet by Dr.T stated:
“I just came across this. I noticed that @AriDavidPaul had liked the tweet as well. You’re aware of these facts I will let your followers know as well: XRP was created before Ripple, so it can’t be a security. Merry Christmas & Happy Holiday season Mike. “
Here, Paul replied by writing that Dr.T needs to be careful with giving “inaccurate” legal advice on the web as he could personally be held liable for it. He also stated that even if Ripple was created five years after XRP, XRP could still be a security. Furthermore, according to Howey Test, which is a test used by the Securities and Commission Exchange [SEC] to check if a digital asset is a security or not, the timing of Ripple incorporation is not an eligible determinant.
He continued to convey that many in the cryptocurrency space have been posting several screenshots of early Ripple PR, Twitter posts and website captures where they created XRP. By this, Paul negated the argument of XRP being born before Ripple. He then opined boldly, indicating that Ripple might have committed early fraud if the claims related to XRP being created before Ripple are true.
To this, ecent, another member of the XRP ecosystem joined the Twitter thread to voice his opinion. In his tweet, he brought the point of “XRP once being a security, but is not any more”. He wrote:
“More
Disregarding for a second the clarity provided by other countries on this topic…Im curious whether the “XRP is a security” camp will be satisfied if the SEC were to say “XRP was once a security but now isn’t” or is blood the only thing that will satisfy those opposed to it?”
By now, the discussion had turned into a rebuttal session where it was Paul’s turn now. Here, he stated that the SEC enforces the regulations. At present, the definition of a security is defined by the 1933 and 1934 Securities Acts Legislation and interpreted by the courts. According to him, SEC’s opinion carries much weight and pragmatism at this hour.
ecent reverted to the above and wrote:
“Thanks but that wasn’t my question. Im curious if in your opinion the CT “XRP is a security” camp will be satisfied with “XRP was but is no longer a security” from the SEC. Will that be satisfactory to you / others in your opinion or will nothing short of criminal charges work?”
According to Paul, his interpretation of such a statement by the SEC will mean what it exactly communicates: a statement of intent by the SEC that is not likely to be prosecuted. He added that such a statement would probably support civil lawsuits.
In his next post, he stated that the key to winning the race is purely intellectual honesty and general clarity in the cryptocurrency space. In his words:
“I don’t like “gaslighting.” It’s up to regulators and judges to enforce laws and regulation as they will.”
On the contrary, ecent believes that intellectual honesty is important indeed. However, he opined that the “XRP is a security” argument is not an honest one, in intent or perspective. He also mentioned that according to the legal clarity established abroad as well as the attempts that are being made to frame regulatory infrastructure for cryptocurrencies, XRP is clearly not a security.
This statement by ecent took a deep hit when Ari Paul re-framed some of the points expressed by the former. Here, Paul questioned the stance of the US on XRP being a security. The tweet read:
“I don’t understand. Are you saying that XRP was a security, but you’re hoping that in other countries it’s not and/or that the US will change its laws to retroactively make the crime of selling an unregistered security not a crime? You’re saying XRP is a US security?”
The debate continued as both the parties stuck to their arguments. Many other members of the cryptocurrency space and XRP in specific joined and submitted their comments on the subject.
The post XRP is a security? Social media welcomes another debate on the matter appeared first on AMBCrypto.
Source: AMB Crypto

XRP multi-sig wallets discussed by prominent members of ecosystem

As the Christmas holidays began, two of the most prominent members of the XRP community, Dr.T and Tiffany Hayden, recently held a discussion on the advantages and cons of a multi-sig wallet on an exchange. The question was asked by a cryptocurrency and blockchain space enthusiast.
Here, Dr.T responded by stating that the multi-sig feature enables high security of funds against hackers. However, to legitimize the use of such wallets, it requires a third party to participate. In his words:
“Multi-sig makes signing transactions harder as you have others who must agree to move funds. It means, stealing/hacking is MUCH harder too. Cons: legit use requires another party too.”
Here, Tiffany Hayden raised a few valuable questions to keep in check the implementation of multi-sig. Through her questions, she implied that there must be a paper describing who holds the keys and clarity on what the multi-sig contract is programmed to do. She also wrote:
“Under what conditions the different parties will sign a txn, and how I can remove my money anytime I want w/o permission?”
She continued to state that absense of information is scary. Moreover, it is even scarier to notice people’s ignorance on the matter and their unwillingness to address such issues.
Dr.T put up another tweet on the matter and opined that there can be a use case for a multi-sig wallet for a custodian. Here, he commented:
“The nefarious use-case would be: A custodian keeping fractional reserves of the money they borrowed from customers and making sure they don’t face a “bank-run” type of scenario (all customers withdrawing cash from ATM at the same time). They can then “safely” lend speculate XRP.”
On the market front, XRP is currently traveling in the red zone, slumped by just 0.33%. At the time of writing, the token was trading at a price of $0.37 with a market cap of $15.3 billion.
The post XRP multi-sig wallets discussed by prominent members of ecosystem appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Technical Analysis: Bull to succeed over bear’s occasional threats

After a long bullish run, the cryptocurrency market seems to be having a tough time keeping the bear out of the market. At the time of writing, Bitcoin [BTC] was trading at a price of $3890 with a market cap of $67.8 billion. The total trade volume in the past 24 hours was recorded to be $5.8 billion.
1-hour:
Bitcoin one-hour price chart | Source: Trading View
In the 1-hour chart of the Bitcoin candlesticks, there is a steep uptrend ranging from $3238 to $3830, whereas the downtrend is extending from $4038 to $3926. Furthermore, the strongest resistance level is currently set at $4137 to curb the price hike. There is no possibility of a trend breakout, as of now, as no concentration in the price trend has been spotted.
The Parabolic SAR is currently bullish on the cryptocurrency. This is evident by the position of the dots that are aligned below the price candles.
The Aroon indicator is showing more strength in the uptrend, therefore giving a bullish prediction.
The Awesome Oscillator is denying the presence of a bull wherein the bars have turned red to speculate a negative fate for the coin.
1-day:
Bitcoin one-day price chart | Source: Trading View
In the 1-day analysis of the BTC chart, the candlesticks are experiencing a downtrend running from $6259 to $4079. Here, a support level is set at $3183. Same as above, there is no price-concentration observed, hence, a trend breakout does not seem visible.
The Bollinger Bands are closing in on each other to constrict the volatility of the price trend. Hence, a lower volatility is to be expected in the future market of Bitcoin.
The RSI is traveling in the bullish zone as of now, almost turning to a neutral stance. Therefore, a prediction by the RSI cannot be confirmed.
The MACD has made a bullish crossover by the signal to predict a positive future for the token. Furthermore, it is moving upward to confirm its prediction.
Conclusion:
In this technical analysis, a majority of the indicators are passing a green signal for the Bitcoin price trend. A lower volatility or a sideways trend can also be expected.
The post Bitcoin [BTC/USD] Technical Analysis: Bull to succeed over bear’s occasional threats appeared first on AMBCrypto.
Source: AMB Crypto