Don’t Underestimate Samsung Galaxy S10’s Crypto Offering, Millions Will Be Exposed To Bitcoin

It’s official, Samsung, one of the most preeminent powerhouses in the technology sector, has formally delved into the crypto space. While the company, headquartered in Seoul, South Korea, has hinted at its involvement with blockchain historically — backing CryptoKitties, experimenting with ASICs, and trialing blockchain — it has yet to release a cryptocurrency product built for the masses. Until now, that is.
Meet Samsung’s Blockchain Keystore
On Wednesday, at the most important date on the Samsung calendar — Unpacked 2019 — the technology giant unveiled its latest flagship products, the Galaxy S10 lineup. Introduced this year was the S10E, S10, and S10+, which promise to be answers to Apple’s controversial X lineup.
While the announcement was the same old, same old, with a flashy keynote, extremely extensive media coverage, and marginal (yet visible) improvements over last year’s phone, something caught the eye of crypto industry participants across the board. According to a press release issued as Unpacked trended on Twitter, the entire S10 lineup will have a blockchain- and crypto-centric feature. The release reads as follows:
“Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.”
Although the words “crypto” and “wallet” weren’t mentioned, it is believed that this facet of the press release indicates that Samsung likely has a (semblance of a) wallet or private key solution offering ready to ship for S10 users. In fact, according to a South Korean crypto source, a pre-release S10 had a tutorial video outlining a wallet that held Ethereum and Bitcoin.

– Samsung now priming their phones with Blockchain tutorials. The wallet integration on the Galaxy S10 has been confirmed… even after they denied it. Trying to keep Apple on their toes?
— Korean Cryptocurrency & Blockchain News (@BlockchainROK) February 21, 2019

This confirmation that the so-called “Blockchain KeyStore” exists comes after technology news outlet SamMobile revealed that the company filed for crypto-related trademarks in December, and insiders took to Twitter to leak images of a beta version of a cryptocurrency wallet on a pre-release S10.
While this is monumental news in and of itself, what’s interesting is the way in which Samsung may be securing “blockchain-enabled mobile services.” For those who missed the loop, all S10 devices outside of the U.S. proper will utilize the Exynos 9 Series (9820) system-on-chip (SOC). According to information garnered from a company website, the Samsung-built chip will offer “rock-solid security.” How so?
Well, the newfangled Exynos SOC utilizes a technology called “physically unclonable function,” abbreviated to PUF, to safely secure and manage data in “perfect isolation.” It wasn’t explicitly stated whether Samsung KeyStore will enlist the use of PUF. But, more likely than not, the blockchain key storage system activated on the to-be-shipped flagship smartphones will feature PUF and secure elements/secure enclaves, used to keep pertinent information sequestered away from cyber-threats, in some capacity.
NewsBTC’s Joseph Young even noted that this pro-security offering could be “next level,” quipping that “Apple has a lot of work to do now” in this field.

Apple has a lot of work to do now. Some next level stuff by Samsung including crypto private key storage.
— Joseph Young (@iamjosephyoung) February 21, 2019

How Big Could This Crypto Offering Be?
That’s the question that has been on crypto pundits’ minds since this news broke. In the eyes of Lord of Crypto, a lesser-known trader, this could potentially be the “most bullish news of 2019,” explaining that Samsung, the world’s largest smartphone provider with ~20% market share, will spark notable levels of adoption. Lord even claimed that pundits have “underestimated” the magnitude of this announcement.

Potentially most bullish news of 2019 is happening in 10 minutes:
Samsung (top selling phones in the world) unveiling new Galaxy S10 It is said to have a native Crypto Wallet built into it
Underestimated how big this will be for adoption. Other phones will follow suit
— (@Lord_of_Crypto) February 20, 2019

From a cold, hard numbers point of view, this could just be true. Samsung didn’t divulge whether KeyStore or company-branded blockchain offerings of similar caliber would come pre-installed on devices, but millions are still likely to be exposed to the crypto ecosystem in some capacity.
Per statistics gathered by Satoshi Flipper, a real estate developer by trade but Bitcoin lover by night, Samsung shipped 70 million units in Q4 2018 alone. All the devices shipped likely weren’t flagships. But, considering the popularity of Galaxy devices, it wouldn’t be nonsensical to claim that a minimum of 25 million individuals will pick up S10 smartphones over the course of the coming year.

– Twitter has 326 million active monthly users– Samsung shipped 70 million units In Q4 2018 alone and the new Galaxy smartphones will do more for bitcoin adoption than @Bakkt and all the ETF's in the pipeline combined.
— Satoshi, MBA (@SatoshiFlipper) February 20, 2019

Thus, Satoshi Flipper noted that KeyStore & Co., along with a Lightning Network application that NewsBTC reported on previously, could do more for Bitcoin adoption than “Bakkt and all the ETF’s in the pipeline combined.”
Related Reading: Researcher: Bitcoin Lightning On Square Could Be Bigger Than Crypto ETF, Bakkt Combined
Even if this offering isn’t actively used by common Joes and Jills with S10s in their pockets, White Rabbit, a long-time Bitcoin miner, remarked that custody (security) remains one of the largest problems facing this space today. And as such, he determined that the introduction of proper security solutions, like KeyStore, could be “interesting” to watch in the coming months and years.
Alec Ziupsnys, better known as RhythmTrader on Twitter, noted that Samsung’s latest move in the blockchain realm should spark competition from Apple and Google, thus catalyzing adoption even further.
Featured Image from Shutterstock
The post Don’t Underestimate Samsung Galaxy S10’s Crypto Offering, Millions Will Be Exposed To Bitcoin appeared first on NewsBTC.
Source: New

“People interested in XRP are not interested in Bitcoin,” says Andreas Antonopoulos

Andreas Antonopoulos, the author of Mastering Bitcoin and a well-known Bitcoin proponent, spoke about Blockstream’s Liquid sidechain, the first Bitcoin production sidechain, during a Q&A session on YouTube. Here, the author also spoke about whether there was any competition between Bitcoin’s Liquid sidechain and XRP/ Ripple, with respect to use case.
Antonopoulos started by talking about the Liquid sidechain, wherein he stated that the product was designed by Blockstream, a well-known company in the Bitcoin space that has been a part of numerous projects related to Bitcoin. The initial discussion for a Bitcoin Liquid sidechain solution commenced in 2015.
Here, a sidechain refers to a separate blockchain that is connected to the main chain via a two-way peg, a mechanism that enables assets to be fungible at a predetermined rate. Andreas explained sidechain as,
“[…] you can move [value] from Bitcoin’s chain… to this other blockchain, use it [there for some purpose], and then move it back.”
Sidechain introduces a concept wherein a user of the main chain has to send coins to an output address, which is then locked up to avoid the user from using it for other purposes. This is followed with a confirmation that is transmitted through the chain after the initial transaction is completed. Succeeding this, the same amount of coins will be released on the sidechain, which can later be used by the user. The same concept applies when the coins are transferred from the main chain to the sidechain.
With Liquid sidechain, users can make use of Liquid BTC, which is a “one-to-one equivalent of Bitcoin,” to lock up 1 BTC on the Bitcoin blockchain, which then becomes 1 Liquid BTC that can be used on the Liquid sidechain. This enables faster and cheaper transactions, without burdening the Bitcoin blockchain.
Antonopoulos also said, “in the case of Liquid, it is first sidechain implemented by Blockstream,” adding that it has been in the beta stage for over a year. He stated that this sidechain is intended to be a “backend exchange-to-exchange pipeline” for transactions of the largest cryptocurrency in the space. It will ensure that the coin moves “very fluidly” between exchanges without the need for on-chain transactions.
“The idea being, you have exchanges around the world who must withdraw and deposit… bitcoin to addresses that belong to other exchanges. Every time they do a withdrawal or deposit, they are not only using up space on the Bitcoin blockchain, but they also need to pay fees.”
He further added,
“Liquid is essentially payment channels with exchanges that allow them to move money… between themselves directly, like a SWIFT network. Liquid uses a federated signing model. It is not a mined chain, but a signed chain. It uses a proof-of-authority [consensus algorithm]”
This was followed by the author stating that this sidechain solution is not suitable for end-users and consumers, but a solution for exchanges that manage large Bitcoin transactions, “in a network that is off-chain and commercial product.”
Antonopoulos also voiced his opinion on whether there is any competition between Liquid sidechain and XRP saying,
“I don’t think so. Ripple [XRP] has a different model in its consensus layer, as well as… how the currency is used within the network. I think the people who are interested in XRP are not interested in Bitcoin, even through a sidechain.”
He further added,
“There is a spectrum of applications here, from payment channels and atomic swaps with… [decentralized] Lightning Network, to a [distributed proof-of-authority] sidechain like Liquid, to XRP / Ripple. There is some overlap in those applications, but I don’t think the overlap is enough and… I think they differentiate enough that they don’t directly compete.”
The post “People interested in XRP are not interested in Bitcoin,” says Andreas Antonopoulos appeared first on AMBCrypto.
Source: AMB Crypto

The Launch of Samsung S10 and S10+ Boosts SSNLF Stock


The Launch of Samsung S10 and S10+ Boosts SSNLF Stock

The next generation Samsung devices enhanced with built-in crypto-supporting features are expected to push the SSNLF stock prices higher in the world markets attracting more investors.

The Launch of Samsung S10 and S10+ Boosts SSNLF Stock

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Source: CoinSpeaker

Crypto Investor Who Shorted Ethereum at $700: Bottom is Far From Over, Here’s Why

It has been difficult not to get hopes up when crypto markets surge by over 20% in a couple of weeks. What should be remembered though is that the asset class is still in the midst of a bear market that has lasted for over a year.
One hedge fund partner, who has been known for shorting, still thinks there is further to go before markets hit the bottom.
Ethereum Momentum Slow, Devs Jumping Ship
Alex Sunnarborg, founding partner of Tetras Capital, a New York City based cryptocurrency hedge fund, spoke to Forbes recently about the firm’s investment strategies and where he sees markets going next.
The company is estimated to have $30 million in assets under management. It shorted Ethereum in May when it was trading at around $700, which Sunnarborg admits was the firm’s biggest win for 2018.
Total market cap – 6 months
When asked where the bottom is for Ether he replied that fundamentals do not have that much impact because the assets trade so much relative to each other. Basically, Ethereum will follow what Bitcoin does, a pattern which we have all seen play out over the past couple of years.
He added that the ConsenSys downsizing news was bad for ETH as it is an integral piece of the Ethereum ecosystem. “There’s this massive disconnect between how much money is still tied up in these projects and how much people actually use them,” he added.
Ethereum dApps have had minimal uptake and rival platforms EOS and Tron are now getting the lion’s share of users. This will cause developers to jump ship to other platforms which would cause a ‘drop in momentum and steam’.
Not Confident on Bitcoin Yet
When asked the crucial question on whether Bitcoin has bottomed yet Sunnarborg replied;
“I don’t think so, and I think calling that is very difficult. That’s part of the reason I’m really thankful that we’re in the position we are right now. We can hedge ourselves, remain more neutral and not have to call that exact price or timing bottom. I’m not confident right now.”
The interviewer asked about what the firm was bullish and supportive of. Aside from being a Bitcoin proponent, he added that Mimblewimble and Grin are interesting along with Zcash and Monero.
Obviously, not a fan of EOS and alluding to its centralization he added; “The one-year long, $4 billion-dollar ICO seems a little excessive to me. The whole governance system, with 21 block producers that can essentially make, vote, or deny everything, is a weird concept to me.”
Back to the bottoms, he said that bad news is needed to cause the landslide and this is likely to come from the US SEC. Once all the bad actors and dodgy ICOs get washed out, the volume and price manipulation is quashed, and a few big name products get launched then the only way is up.
Noted crypto analysts are also of the opinion that this rally won’t last.

This is a suckers rally which will lead to more downside $btc
— fil₿fil₿ (@filbfilb) February 20, 2019

The $25 billion rally has been enjoyed by many, however, to put things into perspective, markets are still half of what they were worth on August 1 when market cap was $270 billion and falling.
Image from Shutterstock
The post Crypto Investor Who Shorted Ethereum at $700: Bottom is Far From Over, Here’s Why appeared first on NewsBTC.
Source: New

New Leaked Video Shows Blockchain Tutorial on Samsung Galaxy S10


New Leaked Video Shows Blockchain Tutorial on Samsung Galaxy S10

While Samsung has successfully released its Galaxy s10 line, there’s many speculations among crypto community about smartphone’s blockchain features and in-built crypto wallet. The recently leaked video provides new insights.

New Leaked Video Shows Blockchain Tutorial on Samsung Galaxy S10

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Source: CoinSpeaker

Bitcoin Price Watch: BTC Readies For Bullish Acceleration Above $4,000

Bitcoin price is well supported on the downside near the $3,900 and $3,850 supports against the US Dollar.
The price is likely to accelerate gains above the $3,975 and $4,000 resistance levels.
There is a major bullish trend line formed with support at $3,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could dip a few points, but buyers are likely to protect declines below $3,850.

Bitcoin price is likely setting up for the next break above $4,000 against the US Dollar. BTC could gain bullish momentum towards $4,200 if it succeeds in surpassing the $4,000 resistance.
Bitcoin Price Analysis
Yesterday, we saw a minor downside correction from the $3,975 swing high in bitcoin price against the US Dollar. The BTC/USD pair traded below the $3,900 support level, but it found support near the $3,860 level. Later, it formed a support base above $3,860 and finally started a fresh upward move. It broke the 50% Fib retracement level of the recent decline from the $3,974 high to $3,861 low. Besides, there was a break above a connecting bearish trend line at $3,900 on the hourly chart of the BTC/USD pair.
The pair settled above the $3,920 level and traded close to the $3,950 resistance. BTC tested the 76.4% Fib retracement level of the recent decline from the $3,974 high to $3,861 low. It is currently consolidating below $3,950, with a bullish angle. The current price action is positive and it seems like there could be more gains above $3,950 and $3,975. However, a successful break above the $4,000 resistance is must for an upside acceleration. The next key resistance is near $4,180 and $4,200 levels.
On the downside, the main support is near the $3,900 level. There is also a major bullish trend line formed with support at $3,900 on the same chart. Should BTC decline below the trend line, it could test the $3,860 and $3,830 support levels. The final support is at $3,800 and the 100 hourly simple moving average. Below the 100 hourly SMA, the price could decline towards $3,720.

Looking at the chart, bitcoin price is clearly trading with a bullish bias above the $3,900 and $3,860 supports. Therefore, there are high chances of more upsides above the $3,975 and $4,000 resistance. Buyers could aim for $4,200 if there is a successful hourly close above the $4,000 barrier in the near term.
Technical indicators
Hourly MACD – The MACD is slowly gaining strength in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently well above the 50 level, with a positive angle.
Major Support Level – $3,900 followed by $3,860.
Major Resistance Level – $3,950. $3,975 and 4,000.
The post Bitcoin Price Watch: BTC Readies For Bullish Acceleration Above $4,000 appeared first on NewsBTC.
Source: New

Bitcoin [BTC/USD] Price Analysis: Coin breaks from sideways movement as prices rise

Bitcoin, the king of all cryptocurrencies briefly touched the $4,000 range following which, it tumbled down again to the $3,900 range. The rally that started a few days back has brought back excitement and volatility to the once-stale cryptocurrency market.
The price of Bitcoin at press time was $3,938 and the market cap was at $69.68 billion. The 24-hour trading volume of Bitcoin crossed the $8 billion mark and was at $8.87 billion. BitMEX is the largest contributor to the total trading volume as it contributes 16.80% i.e, $1.81 billion  of it via the trading pair BTC/USD.
Although a lot of the traders expected Bitcoin to make a “Bart move,” Bitcoin followed the contrarian theory and broke to the upside.
1 Hour
Source: TradingView
The uptrend for Bitcoin in the one-hour time frame extends from $3,356 to $3,887. Since Bitcoin was in a sideways movement which was followed by an uptrend rally, there is no sight of a downtrend yet.
The support lines are seen at $3,358, $3,498, and $3,577 while the next resistance that Bitcoin has to break is at $4,043. However, considering the market sentiment, $4,000 could also act as a strong resistance point for Bitcoin.
The Parabolic SAR markers indicate bullish movement as the markers have begun forming below the price candles.
The MACD indicator for the aforementioned time frame indicates an imminent bullish crossover as the MACD and the Signal line are in close proximity to each other.
The Relative Strength Index shows that the buyers have a slight momentum due to the recent rally.
1 Day
Source: TradingView
The one-day chart for Bitcoin, which is a longer time frame, shows bullish signs as well due to the recent rally. The downtrend extends from $9,027 to $3,917. The rally needs to be much higher for the formation of a clear uptrend. The support can be seen at $3,198 while the next resistance can be seen at $4,111.
The Aroon indicator shows an Aroon green line that has struck the 100-line, indicating that the uptrend is in full swing.
The Stochastic indicator shows that the lines have crossed the oversold threshold in a bullish crossover.
The Chaikin Money Flow indicator shows that the money flow line has crossed above the zero, indicating a bullish scenario for BTC.
The one-hour time frame, confirmed by the MACD, SAR, and RSI is indicating a bullish outlook for BTC. The indicators, CMF, Stochastic and Aroon of the one-day time frame confirm the same.
The post Bitcoin [BTC/USD] Price Analysis: Coin breaks from sideways movement as prices rise appeared first on AMBCrypto.
Source: AMB Crypto

Breaking: Samsung Releases Galaxy S10 and S10+ with Built-in Crypto Wallets


Breaking: Samsung Releases Galaxy S10 and S10+ with Built-in Crypto Wallets

Samsung  has just made an announcement that might give a strong boost to the cryptocurrency industry, by confirming that its new flagship smartphones -Galaxy S10, Galaxy S10+ and Samsung Galaxy S10 5G – will have a secure storage backed by hardware, which will house users’ private keys for blockchain-enabled mobile services.

Breaking: Samsung Releases Galaxy S10 and S10+ with Built-in Crypto Wallets

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Source: CoinSpeaker

Crypto Sphere Believes Galaxy S10, JPM Coin Behind Bitcoin Rally, But Is Really a Return to Mean

The crypto market lit up with green over the last 48 hours following a powerful rally led by Litecoin, Ethereum, and EOS, which also helped propel Bitcoin toward important psychological resistance at $4K. Should the first-ever cryptocurrency break through the resistance, a major blow will be dealt to bears and could signal that a bottom is already in.
Battered and beaten bulls are tirelessly trying to find correlations to news that may be driving the rally, however, the move is likely a return to mean following extremely oversold conditions.
Crypto Community Searches For News Correlations Behind Bitcoin Rally
Reading through various crypto community discussion groups, members are filtering through recent crypto news hoping to discover the reason behind Bitcoin’s sudden boom. Over at Reddit in both r/bitcoinmarkets and r/cryptocurrency the common speculation on what’s fueling the recent rally points to today’s reveal of the Samsung Galaxy S10.
Announcements from the tech world rarely cause any movement in crypto markets, however, Samsung’s rumored inclusion of a crypto wallet has enormous implications, potentially exposing crypto to millions and millions of the South Korean tech giant’s customer base.
Related Reading | Samsung Galaxy S10 Could Expose Crypto to Millions of Tech Savvy Users
Elsewhere, even Bloomberg is suggesting the recent rally is being driven by news. In a tweet, the media powerhouse claims Bitcoin is having a “delayed boost” thanks to the announcement of JPM Coin, the new “cryptocurrency” announced this week by banking beast JP Morgan this past week.

Bitcoin is getting a delayed boost from the announcement that JPMorgan has developed a digital coin to speed up payments between corporate customers
— Bloomberg Crypto (@crypto) February 19, 2019

However, in recent weeks, the market has barely responded to news – good or bad. For example, the ongoing QuadrigaCX imbroglio that resulted in millions in crypto being lost due to the exchange founder’s passing, would have caused a massive sell-off had it occurred in mid-2018.
Bitcoin and Crypto Markets Return to Mean After Oversold Conditions
The reality in current crypto markets is that Bitcoin and its altcoins brethren are posting gains following sustained downward movements and extremely oversold conditions. Such oversold conditions on assets can cause markets to mean revert, according to prominent trader and panel member Peter Brandt.

Regarding RSI, Stochastic, MACD et al. Markets can remain overbought far longer than many bears have the ability to pay up for a losing short position. OB/OS measures good for trading range mkts. Severely OS mkts tend to mean revert.
— Peter Brandt (@PeterLBrandt) February 19, 2019

When any asset reaches extremely oversold or even overbought conditions, the market tends to correct and returns toward its mean. The scenario played out perfectly when Bitcoin’s parabolic advance was broken in late December 2017, and the inverse occurred after Bitcoin fell through support at $6K.
Related Reading | Crypto Market At Critical Resistance, Is Altcoin Season Right Around the Corner?
The powerful downward movement took Bitcoin and other crypto far below their mean, and the market is now correcting upward toward its mean value.

A commonly shared chart on bubble cycles put together by Dr. Jean-Paul Rodrigue of the Department of Global Studies and Geography at Hofstra University, demonstrates what is happening now during the “blow off phase.” The chart shows that an asset can crash so low, it’s below its mean value and eventually returns as faith is restored in the market.
Feature image from ShutterStock
The post Crypto Sphere Believes Galaxy S10, JPM Coin Behind Bitcoin Rally, But Is Really a Return to Mean appeared first on NewsBTC.
Source: New

Litecoin Up over 120% Since December Low, What’s Fueling Litecoin to Outperform Bitcoin

The 5th largest cryptocurrency Litecoin has been having a green February for the most part as it surges 59 percent in this month alone. At the time of writing, Litecoin has been trading at $51.50 with 24-hours gains of 6.03 percent. In the BTC market as well, it has been in the green by over 6 percent.
While the top cryptocurrencies like Bitcoin, XRP, Stellar, Tron, Cardano, Bitcoin SV, IOTA, and Monero have turned red by around 1 to 2 percent, it’s amazing that Litecoin is still holding gains.
Since hitting the bottom in mid-December at below $23, Litecoin has climbed more than 120 percent, outperforming the top cryptocurrencies, especially Bitcoin.

                     LTC price chart, Source: Coinmarketcap
It is not only the Litecoin price that is surging, but the LTC/USD longs are also approaching its all-time high in November 2018. With the way the longs are spiking, there is a low possibility that a severe drop would be happening.

                     LTC/USD Longs, Source: TradingView
Litecoin Outperforming Bitcoin
Meanwhile, the February month saw Litecoin trading volume going well above $1 billion. Currently, LTC is managing the daily trading volume of $1.54 billion which is seeing a slight increase from yesterday’s $1.4 billion, unlike Bitcoin’s daily trading volume that yesterday hit its highest at $9.9 billion in about 9 months only to now drop down to $8.8 billion. According to the data provided by Coin Metrics, on February 9th, the exchange volume went to $1.7 billion for LTC and the last time Litecoin’s daily trading volume has been above $1 billion has been a year back in February 2018.

                           Litecoin Exchange Volume (USD), Source: Coin Metrics
This is not the first time that Bitcoin has been outperforming Bitcoin by price and trading volume increment as the 5th largest cryptocurrency has historically led the Bitcoin rallies as well, as Joe McCann said,
“Looking at how LTC has outperformed BTC since the epic selloff on November 14th 2018, we can see that LTC has outperformed BTC by better than 4:1 from current cycle low to current session high. As mentioned before, LTC has historically led BTC rallies…”

In the first week of February, Litecoin price started seeing a surge on the grounds of Litecoin creator, Charlie Lee announcing new features in the form of fungibility and Confidential Transactions to be added on Litecoin. However, unlike the previous time, Litecoin Foundation took active steps this time by exploring Mimblewimble implementation and collaborating with Beam for this.

Apart from the trading volume keeping the prices up, the on-chain transactions on Litecoin have been keeping stable around 20k. Even during the bear market, the transactions have held their ground that means speculators have fled from the Litecoin market, as noted by eToro senior analyst, Mati Greenspan, who further added,
“Unlike Bitcoin, $LTC has already snapped its long term bearish trend line (yellow) at the beginning of the year. At the moment, there’s a strong psychological resistance at $50, but after that it’s smooth sailing #ToTheMoon.”
Well, Litecoin has already crossed $51 and now with only about 168 days are left in Litecoin reward halving, it would be interesting to see where will this short-term rally lead to or if Litecoin is leading another rally to the peak!
The post Litecoin Up over 120% Since December Low, What’s Fueling Litecoin to Outperform Bitcoin appeared first on Coingape.
Source: CoinGape

Bullish Bitcoin (BTC) Inch Close to $4,500 as Tech Leader Says it is Better than Paper Money


Bitcoin prices are trending higher, up 8.1 percent in the last week

Elon Musk says Bitcoin and crypto is brilliant for value transfer

Transactional volumes high, behind recent higher highs

Adoption is on the rise, and it is at this juncture that Elon Musk has reasons to believe that Bitcoin is brilliant and a better tool for value transfer. As an influencer, this is bullish, and as long as prices are on the rise, we expect momentum to build up.
Bitcoin (BTC) Price Analysis
Interesting days ahead. There is a full adoption wave, and that is what the community needs. While Bitcoin is fashioned to be an alternative to government-issued paper money, most corporations are reluctant to take the lead and accept it as a form of settlement for customers willing to use the global coin. Tesla is a public listed company, but the founder Elon Musk has on numerous occasions aired his two cents on Bitcoin and cryptocurrency. He continues to make comments, but the company is yet to make it clear whether they will be accepting BTC for their new, fuel-free Tesla. Considering Tesla’s objective of championing green, sustainable energy which is everything against the mechanics powering the network–energy demanding chip-sets, it is unlikely that they will quickly jump in and join other companies like Trading View for example which is accepting BTC in its purest form.
Nonetheless, the question of sustainable energy and blanket conclusions made by critics of the tech that Bitcoin is not at all power efficient continues to draw debate and is quite sticky especially if we factor in the nomadic nature of miners and their propensity to set rigs in a zone with cheap, surplus power. All the same, Elon Musk being an innovator and entrepreneur has some bullish insights on Bitcoin. He calls the rare coin brilliant and a better conduit for the transfer of value.
Candlestick Arrangement

Prices are correcting, but the path of least resistance is up. At spot rates, BTC is up 8.1 percent in the last week and trading above $4,000 according to data streams from BitFinex. Because our trade conditions are live and traders can fine-tune their entries in lower time frames with the first target at $4,500, fitting stops should be around $3,500–$3,800 zone. Like in our previous emphasis, once prices edge past $4,500 or Dec 2018 highs, it is likely that BTC prices will expand towards $5,800–$6,000 at the back of strong volumes.
Technical Indicators
In the secondary volumes charts, participation is on the rise. Since recent higher highs are at the back of strong volumes–37k, it is clear that bulls are in charge unless of course there are counter moves with equally high liquidation volumes.
The post Bullish Bitcoin (BTC) Inch Close to $4,500 as Tech Leader Says it is Better than Paper Money appeared first on NewsBTC.
Source: New

Drastic Shift in Sentiment in Crypto After Bitcoin Surges: Technical Indicators Point Toward a Rally

Since Bitcoin (BTC) embarked on a bear market rally on Sunday, pushing past $3,600, $3,700, and $3,800 in rapid succession, the waters of the nascent crypto market have quieted. As of the time of writing, Ethereum, EOS, among other leading crypto assets have posted single-digit percentage losses — nothing to write home about.
And while some would say that the lack of continued buy-side pressure could warrant a short-term pullback, notable traders have become convinced that from a fundamental and technical perspective, BTC still has a lot going for it.
Bitcoin Could Push Higher In The Coming Days
DonAlt, a leading analyst, recently claimed on Twitter that he’s bullish until Bitcoin finds itself around $4,400. In his message’s sub-tweets, the trader somewhat jokingly added that it would be even possible for BTC to find itself at $4,700 if this market plays its proverbial cards right.

I'm bullish till $4400 but I like saying this stuff after green candles – not during red ones.Don't overexpose, risk what you can afford to lose, remember to take profits at your target areas and don't get overly hyped.
— DonAlt (@CryptoDonAlt) February 19, 2019

An analyst going by the moniker “Flood” also expressed optimism. Noting that he has a long order open at $3,800 to catch a “sharp bounce,” due to the fact that there likely remain “large players” who missed Bitcoin’s recent spike to the upside, and are thus clamoring to open long positions in a bid to counteract shorts.
Crypto Rand recently broke down why analysts are touting sentiment. The prominent industry commentator claimed that BTC’s recent move allowed it to break out of its short-term falling wedge and bull flag, along with a longer-term “major bear pennant” —  an evidently positive sign. Rand added that from volume readings should also spark some form of optimism, noting that this measure has entered and uptrend, indicating buying pressure and market popularity.

#Bitcoin daily scenario looking better:
– Falling Wedge + Bull Flag success.– Major Bear Pennant breaking upwards.– Volume downtrend ended.– Volume starting an uptrend.– Highest daily volume of 2019 on daily.
— Crypto Rand (@crypto_rand) February 19, 2019

Related Reading: Could Bitcoin ETN’s Large Premium to BTC be a Sign of Institutional Buying?
Even a trader that appeared on CNBC’s “Futures Now” segment remarked that Bitcoin is looking a tad better than it was prior to Monday’s rally. Jeff Kilburg, a trader at the CME, noted that “Bitcoin has the ability to rebound,” adding that the approval of an ETF or another “robust confirmation” that the cryptocurrency will survive should confirm such a bullish move.
Long-Term Crypto Bulls Still Star-Struck
From a longer-term perspective, an array of analysts and researchers have remained bullish too. Bitcoin Jack, an analyst for crypto trading unit Bravado, recently posted a chart that accentuated that in the coming years, BTC could embark on a monumental rebound heading into and past the impending block reward reduction. The chart, which was sourced from crypto investor Brian “The Rational Investor” Beamish, depicted that “we are within the time range for a bottom around the four-year MA cyclic support.”

Shoutout to @CRInvestor for his 1W MACD Cross tweet, it had to be merged with this Bitcoin cycle analysis.
The 2019 accumulation will produce many millionaires.
— Bitcoin Jack (@BTC_JackSparrow) February 19, 2019

PlanB, also known as 100TrillionUSD on Twitter, has also expressed that Bitcoin should swell into the coming years. Citing his stock-to-flow (amount of BTC in existence over issuance rate) analysis, he noted that BTC is fairly valued at $6,250. While this isn’t much higher than the asset’s current valuation, in separate tweets, he has remarked that BTC could reach $10,000 by the next Bitcoin issuance shift, slated to activate in May of next year.
Once the so-called “halvening” goes live, PlanB has claimed that considering the stock-to-flow ratios of other precious metals, like gold, silver, platinum, among others, BTC at $3,500 will be 10 times to 100 times undervalued. So, if PlanB’s thesis is correct, a fair valuation for post-halvening Bitcoin could be between $34,000 and $340,000.

Crypto trader Filb Filb has only touched on the fabled $300,000 range, recently explaining his thesis behind a $333,000 prediction he made in December 2018. Through the use of regression and statistical analysis, taking the swelling worldwide debt sum of $274 trillion and combining it with BTC’s current level of adoption, Filb determined that a fair valuation for Bitcoin is ~$74 billion.  While this indicates that BTC is currently in a logical valuation zone, Filb added that the crypto asset will continue to see its use swell in the years to come. In fact, harnessing data from the Internet industry’s cycles, it was revealed that if all pans out for Bitcoin, $333,000 could just be in the cards.
Featured Image from Shutterstock
The post Drastic Shift in Sentiment in Crypto After Bitcoin Surges: Technical Indicators Point Toward a Rally appeared first on NewsBTC.
Source: New

Bitcoin Cash Support Added on Coinbase Wallet App


Bitcoin Cash Support Added on Coinbase Wallet App

Konstantin Rabin, financial expert and crypto enthusiast, takes a look at recent announcement from Coinbase in which it has confirmed that they added Bitcoin Cash support in their wallet app.

Bitcoin Cash Support Added on Coinbase Wallet App

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitcoin [BTC] and other cryptocurrency reserves of mining giant Bitmain allegedly running on fumes

Bitmain, the mining giant that came close to controlling more than 50% of hash rate responsible for mining Bitcoin is now down in the dumps, as per the latest rumors circulating the depths of the cryptoverse.
A Twitter user @btcking555 tweeted,
“BREAKING: The insider just wechat Bitmain’s latest crypto holdings are 6k in BTC and 750k in BCH. Thats around $130 mln in total value and almost 90 prc down from a year ago !! Also Bitmain had to liquidate some 500k BCH over Q3 and Q4 to cover losses. No wonder BCH has tanked”
To make matters worse, Bitmain lost half a billion dollars in Q3 of 2018. This further substantiates rumors of Bitmain’s demise, especially when compared to the first half of 2018 during which Bitmain had profits worth $1 billion.
Putting two and two together, one can assume that the aforementioned tweet about the sell-off of their crypto-reserves makes sense since Bitmain is in dire need of funds. Moreover, Bitmain’s dream for an IPO under Hong Kong Stock Exchange [HKEx] has not yet materialized as the exchange said that it was reluctant to allow IPO related to cryptocurrencies, owing to its highly volatile market.
@brcking555 further continued,
“Also Jihan is desperate to raise any capital in order not to sell down any more BCH and is pissed about todays leaks to media about massive Q3 losses. His “smoking mirrors” announcement on 7nm chip may not even help him.”
Alister Milne, the CIO of Digital Currency Fund and a Bitcoin enthusiast replied to the above tweet in agreement,
“Looks like they dumped 16k BTC as well … combined, its probably why $6000 broke.”
@eddyspenserwold commented on the same thread,
“March 2018 Bitmain holdings:
BTC 22,082
BCH 1,021,306
BTC 6,000 (liquidated 70%)
BCH 750,000 (liquidated 25%)
Bitmain still believes in Bcash.
In Q3-4 2018, Bitmain sold more Bitcoin than Bcash but Bcash tanked more.”
Another prominent person in the cryptocurrency ecosystem, Udi Wertheimer commented,
“I mean, shitcoin twitter isn’t going to like this reply, but if they liquidated ~50% of their holdings in 6 months that’s pretty bullish for BCH from here on out”
People in the community have speculated that the mining giant’s reallocation of hash power during the Bitcoin Cash hard fork combined with the brutal bear market of 2018 has contributed to Bitmain’s current state.
The post Bitcoin [BTC] and other cryptocurrency reserves of mining giant Bitmain allegedly running on fumes appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Price Crosses $4,000, Could we have Another Spike While Chart “Screams Bottom”

Volatility entered the market on the weekend when greens exploded across the cryptocurrency space with top ones registering a rise of as high as 12 percent in a day. Bitcoin took a spike as well and briefly hit $4,000 on Bitfinex. At the time of writing, Bitcoin has been trading at $3,952 with 24-hours gains of 0.42 percent, as per data provided by Coinmarketcap.
Bitcoin price 5-days chart, Source: TradingView
The price wasn’t the only one that took a spike, one of the strong factors that contributed to this hike has been its trading volume. The leading cryptocurrency that is currently managing the daily trading volume of $8.95 billion yesterday hit $9.9 billion. This high was previously registered on May 3rd, 2018.
Trading volume has an integral part to play in the Bitcoin price as the crypto trader and analyst Josh Rager shared,
“Bitcoin currently at resistance level with a break and close above $4100 is bullish. But…Volume continues to decrease on high time frames: the decreasing volume w/ rising price = bearish. If the volume doesn’t pick up, I foresee BTC price dropping back to support.”

It’s a possibility that as traders and investors start getting bullish, the flagship cryptocurrency might do a U-turn and take a hit to another bottom as many analysts have already predicted for in the first quarter of 2019 as Rager further comments, “I expect bullishness and overconfidence by majority before a drop to the bottom.”
“Notice the long wick, a nice sign of a slight retrace likely. Would like $BTC push up slightly higher to at least $4100 to mid $4ks would be a nice a target. For traders, this is good volatility. For Holders, you could see new lows in the coming weeks,” noted Rager.
Now, similar thoughts are echoed by economist and crypto trader Alex Kruger who says, the current market has covered all the factors, viz. “Capitulation” that occurred from November to December in 2018, then bounced off long term trend measure, twice, on Dec & Feb (200 WMA), and the current movement that broke out from High Low” in high volume, to hit the bottom.
In the short term, analysts are predicting Bitcoin to move between the $3,700 and $4,200 range while as Rager noted and now Kruger, once this $4,200 level gets broken, price can move really “fast,” but it in no way means Bitcoin price won’t crash rather the chart is giving bearish signals.
“Prices may crash again. After all, bitcoin’s demand is almost entirely speculative, and natural sellers (miners, exchanges) will always sell.”

The post Bitcoin Price Crosses $4,000, Could we have Another Spike While Chart “Screams Bottom” appeared first on Coingape.
Source: CoinGape